UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): ~~March 10~~February 24, ~~2025~~2026

Commission

File Number

Exact name of registrant as specified in

its charter, address of principal executive

offices and registrant’s telephone number

IRS Employer
Identification Number

1-3198

Idaho Power Company

82-0130980

1221 W. Idaho Street

Boise, ID 83702-5627

(208) 388-2200

State or Other Jurisdiction of Incorporation: Idaho

Former name or former address, if changed since last report: None

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class TradingSymbol(s) Name of each ~~exchange~~exchangeon ~~onwhich~~which registered N/A N/A N/A

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 8.01

Other Events.

On ~~March~~February 1024, ~~2025~~2026, Idaho Power Company (“Idaho Power”) entered into a Terms Agreement (the “Terms Agreement”) with ~~Mizuho~~Wells Fargo Securities, ~~USA~~ LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, ~~MUFG~~U.S. ~~Securities~~Bancorp ~~Americas~~Investments, Inc., ~~Wells~~Mizuho ~~Fargo~~ Securities, USA LLC, ~~BofA Securities, Inc.,~~ Morgan Stanley & Co. LLC, and ~~U.S.~~MUFG ~~Bancorp~~Securities ~~Investments,~~Americas Inc., as purchasers, whereby Idaho Power agreed to sell and the purchasers agreed to purchase, subject to the terms and conditions expressed therein, $~~400~~350,000,000 aggregate principal amount of Idaho Power’s 54.7085% First Mortgage Bonds due ~~2055~~2036, Secured Medium-Term Notes, Series O (the “Bonds”). The Bonds are expected to be issued on ~~March~~February 1327, ~~2025~~2026, subject to the terms and conditions expressed in the Terms Agreement and in the Selling Agency Agreement, dated February 26, 2025, between Idaho Power and each of agents named therein (the “Selling Agency Agreement”).

The Terms Agreement and the Selling Agency Agreement contain representations, warranties and agreements of Idaho Power, customary conditions to closing, indemnification rights and obligations of the parties and termination provisions. The Terms Agreement is filed as Exhibit 1.1 hereto. The Selling Agency Agreement was previously filed as Exhibit 1.1 to Idaho Power’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 26, 2025.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.

ExhibitNo.		Description
1.1		Terms Agreement, dated ~~March~~February 1024, ~~2025~~2026, between Idaho Power Company and each of ~~Mizuho~~Wells Fargo Securities, ~~USA~~ LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, ~~MUFG~~U.S. ~~Securities~~Bancorp ~~Americas~~Investments, Inc., ~~Wells~~Mizuho ~~Fargo~~ Securities, USA LLC, ~~BofA Securities, Inc.,~~ Morgan Stanley & Co. LLC, and ~~U.S.~~MUFG ~~Bancorp~~Securities ~~Investments,~~Americas Inc., as purchasers
1.2		Selling Agency Agreement, dated February 26, 2025, between Idaho Power Company and each of, BofA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities USA LLC, Morgan Stanley & Co. LLC, MUFG Securities Americas Inc., U.S. Bancorp Investments, Inc., and Wells Fargo Securities, LLC (incorporated by reference to Exhibit 1.1 to Idaho Power’s Current Report on Form 8-K filed with the Securities and Exchange Commission on February 26, 2025)
5.1		Opinion of Perkins Coie LLP, dated ~~March~~February 1125, ~~2025~~2026, filed in connection with Registration Statement on Form S-3 (File No. 333-285140-01)
23.1		Consent of Perkins Coie LLP (included in Exhibit 5.1)
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: ~~March~~February 1125, ~~2025~~2026

IDAHO POWER COMPANY By: /s/ Brian R. Buckham Brian R. Buckham ~~Senior~~Executive Vice President, Chief Financial Officer, and Treasurer

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