Salt Lake City (June 30, 2026) — Rocky Mountain Power has filed a stipulated settlement resolving issues from the 2024 general rate case. Pending review by the Utah Public Service Commission, the proposal delivers cost stability, near-term customer benefits and a clear path for future investment in Utah.
The agreement provides for a net reduction in customer bills in the near term, supports rate stability through 2028 and advances a framework to bring forward approximately $2 billion in investments to support reliability, resilience and continued economic growth across the state.
The settlement also includes important customer protections, including an earnings test to ensure the company does not over-earn, and avoids the uncertainty of prolonged litigation.
Key elements of the settlement include:
- Rate stability through 2028, with a commitment not to file another general rate case with rates effective during that period
- A pathway to $2 billion in new Utah investment
- Customer protections, including an earnings test to ensure appropriate financial performance
- Avoidance of extended litigation, reducing uncertainty for customers
“This is a strong and balanced outcome for Utah,” said Dick Garlish, President of Rocky Mountain Power. “It delivers what our customers consistently tell us they want most – stable and predictable costs, reliable service and continued investment in the communities we serve.”
Under the settlement terms, customers will see a net decrease in their bills of 6.4% overall for an average residential customer.
The terms include a $93 million increase in general rates of 4.2% increase, or $3.44 for an average residential customer, effective July 1. However, also on July 1, customers of Rocky Mountain Power will also see an average 10.6% decrease in energy charges on their bill. This will reduce a typical residential customer’s monthly bill by about $11 per month, due to the adjustment to the Energy Balancing Account. The net impact of the two rate actions results in an overall net decrease for customers.
The agreement reflects a shared commitment to balancing affordability, reliability and long-term investment while maintaining a financially healthy utility that serves as the backbone of Utah’s economy.
“Sound energy policy is key to Utah’s continued prosperity and competitiveness,” said Derek Miller, president and CEO of the Utah Chamber. “We believe Utah’s energy future depends on affordability, reliability and sustainability. We commend all the parties who negotiated this settlement in good faith. Their willingness to work together reflects the kind of thoughtful, balanced approach Utah needs to meet its growing energy demands.”
Rocky Mountain Power will continue working with state leaders, regulators and stakeholders to deliver safe, reliable and affordable energy while supporting the state’s ongoing growth and development.
About Rocky Mountain Power
Rocky Mountain Power provides safe and reliable electric service to more than 1.2 million customers in Utah, Wyoming and Idaho. The company supplies customers with electricity from a diverse portfolio of generating plants including hydroelectric, thermal, wind, geothermal and solar resources. Rocky Mountain Power is part of PacifiCorp, one of the lowest-cost electricity providers in the United States, with two million customers in six western states. For more information, visit RockyMountainPower.net.
