The Washington Water Power Co. has agreed to buy PacifiCorp's electrical properties in northern Idaho.
PacifiCorp, based in Portland, Ore., is the parent company of Utah Power and other subsidiaries.If approved by the Idaho Public Utilities Commission and the Federal Energy Regulatory Commission, the $26 million cash purchase of Pacific Power Co. properties in Bonner County would be done by this summer, officials said.
The ownership transfer will mean stable rates for the 9,300 residential, commercial and industrial customers now served by Pacific Power in the Sandpoint area, officials said.
"As a result of the sale, customers in northern Idaho will be assured rate stability," Pacific Power President Paul G. Lorenzini said. "Pacific has none of its own generating plants or transmission lines in the area and has relied upon the Bonneville Power Administration and WWP to deliver power to the Sandpoint area."
The Pacific Power service area is contiguous to that of WWP, which already provides natural gas to about 2,500 customers in the Sandpoint area and electricity to more than 78,000 northern Idaho customers.