Additional tax credit amortization was $17.2 million in Q2 2025 compared with $7.5 million in Q2 2024, and $36.5 million in the first half of 2025 versus $20 million in the first half of 2024.
Depreciation expense increased by $6.4 million quarter-over-quarter due to accelerated capital investment.
For the first half of 2025, diluted earnings per share were $2.87 versus $2.67 in 2024.
Higher O&M expenses were driven by labor cost increases and wildfire mitigation program expenses.
IDACORP's diluted earnings per share were $1.76 in Q2 2025 compared with $1.71 in Q2 2024.
Net income increased by $6.3 million in Q2 2025 compared with Q2 2024, driven by higher retail revenues, customer growth, and higher usage due to warm and dry weather.
Net nonoperating expenses increased by $7 million due to higher interest on long-term debt and transmission customer deposits.
Operating cash flows for the first half of 2025 were $301 million, $45 million higher than the first half of 2024.
Operating income benefited from a $8.8 million increase in retail revenues per megawatt hour, $6 million from customer growth, and $5.5 million from increased usage per retail customer.
Dafinchi