BOISE, Idaho, April 1, 2013 /PRNewswire/ -- IDACORP, Inc. (NYSE: IDA) and its primary subsidiary Idaho Power are pleased to announce their selection for Target Rock Advisors' 2013 Sustainable Utility Leader Award.
The March 26 announcement credited IDACORP's performance in the classic triple bottom line (TBL) categories of environmental stewardship, economic performance and societal contributions. According to Target Rock Advisors, the marketplace shows utilities that best manage their TBL have "significantly outperformed" their peers over the past decade, as well as the broader market indices.
"Today's investors always look to traditional metrics, but they're also beginning to examine how companies are doing from an environmental, social and governance standpoint," said IDACORP Director of Investor Relations Larry Spencer. "This award helps differentiate our company from other utilities as a long-term, sustainable investment."
IDACORP was selected for the honor from among approximately 150 publicly traded energy utilities and related companies across the country, representing 350 distinct operating subsidiaries. The company was one of three award recipients in the "mid cap" (market capitalization of $2-10 billion) category.
"Sustainability has been a part of our daily business operations for nearly a century," said IDACORP Executive Vice President and Chief Financial Officer Darrel Anderson. "This award signals operational excellence and shows our sustainability efforts are being recognized by the investment community."
Based in Hauppauge, NY, Target Rock Advisors, LLC provides research, data and analytics, as well as related consulting services to utilities, the financial community and other related industries. More information about the 2013 award is available on the company's website.
About IDACORP, INC.
IDACORP, Inc. (NYSE: IDA) is based in Boise, Idaho and was formed in 1998 as a holding company. IDACORP subsidiaries include: Idaho Power, a regulated electric utility; IDACORP Financial, an investor in affordable housing projects and real estate; and Ida-West Energy, an operator of small hydroelectric projects. IDACORP's origins lie with Idaho Power and operations beginning in 1916. Today, Idaho Power employs more than 2,000 people who serve more than 500,000 customers throughout a 24,000-square-mile area in southern Idaho and eastern Oregon. To learn more, visit www.idahopower.com or www.idacorpinc.com.
SOURCE IDACORP, Inc.