Intermountain Power Agency

What Intermountain Power Agency does

Intermountain Power Agency (IPA) is a political subdivision of the State of Utah, organized in 1977 under the Utah Interlocal Co-operation Act to finance, construct, operate, and maintain the Intermountain Power Project (IPP). The agency operates as a joint-action public power entity serving 35 participants — 23 Utah municipalities, 6 California municipalities, and 6 Utah electric cooperatives — whose operations touch six states (Utah, California, Nevada, Colorado, Wyoming, Arizona). Its core asset is the IPP Generation Station near Lynndyl, Utah, historically comprising two 900 MW coal-fired units producing more than 13 million MWh annually, with output delivered via the ~490-mile Southern Transmission System to Adelanto, California, and the Northern Transmission System serving Utah and Nevada.

Revenue flows through long-term Power Sales Contracts with two components: a fixed-cost portion allocated by generation entitlement shares (covering debt service, operating expenses, and reserves) and a variable-cost portion billed monthly based on energy received. The Los Angeles Department of Water and Power (LADWP) is the single largest purchaser at 48.617% of generation entitlement and serves as Operating Agent; California municipalities collectively hold 78.943% of entitlement. In late 2024/early 2025, the coal units ceased operations, and IPA is executing the IPP Renewed initiative, transitioning the site to cleaner energy technologies (operational in 2025) while continuing to access capital markets through 2022-2024 bond issuances.

The business is essentially a contracted wholesale power utility with a regulatory monopoly structure, government status, and high capital intensity. Customer concentration on LADWP and the California participant base, combined with legacy Power Sales Contracts expiring June 15, 2027, makes the IPP Renewed contract execution the central value driver going forward.

Name

Intermountain Power Agency

Legal name

Intermountain Power Agency

Website

https://ipautah.com

Company type

Private

Founded year

1977

Operating status

Operating

Headcount range

1–10 employees

Short description

Intermountain Power Agency is a Utah political subdivision operating the Intermountain Power Project, a 1,800 MW generation and transmission system delivering wholesale power under long-term contracts to 35 public power participants across six states, currently transitioning from coal to cleaner energy technologies via its IPP Renewed initiative.

Ownership category

akta.pro rank

Product category

Wholesale Electric Power Generation

NAICS

Fossil Fuel Electric Power Generation (221112), Electric Power Transmission, Control, and Distribution (22112), Electric Power Generation (22111)

SIC

Electric Services (4911)

akta.pro primary industry

Utility-Scale Power Generation Asset Management (EUAEAMAA)

akta.pro secondary industry

Resource Adequacy, Capacity Expansion & Integrated Grid Planning (IRP linkages) (EUADAGAI)

Keywords

• Wholesale power generation
• Municipal electric supply
• Baseload power generation
• Public power agency
• Transmission services

Headquarters

HQ city

South Jordan

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Supply Chain, Personnel, Others

Revenue model

1. Power Sales Contracts – Fixed Cost Component: Fixed cost component allocated among Purchasers based upon their respective generation entitlement shares, billed monthly. This covers debt service, operating expenses, reserves, and other fiduciary requirements.
2. Power Sales Contracts – Variable Cost Component: Variable cost component billed monthly (one month in arrears), allocated among Purchasers based on the amount of energy each Purchaser receives.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels3 records

Core offering

Intermountain Power Agency (IPA) owns and operates the Intermountain Power Project (IPP), a coal-fired generation facility near Lynndyl, Utah consisting of two 900 MW units (1,800 MW total) that historically produced more than 13 million MWh per year. Power output and generation capacity are sold to 35 public power participants (municipal utilities and electric cooperatives across Utah, California, and neighboring states) under long-term Power Sales Contracts, with delivery via the project's AC and DC transmission systems (Southern Transmission System extending ~490 miles to California and the Northern Transmission System serving Utah and Nevada).

Product overview

Intermountain Power Agency operates as a single unified offering centered on the Intermountain Power Project (IPP), a coal-fired power generation facility in Utah with associated transmission infrastructure. The portfolio includes the core power generation assets (two coal-fired units), the Southern Transmission System (STS) for California power delivery, and the Northern Transmission System (NTS) for regional delivery. IPP Renewed represents the planned transition to cleaner energy technologies scheduled for 2025. Additional products include Generator and Transmission Interconnection Procedures for third-party access to the grid.

Differentiator

Problem solved

Functional benefit

Products and services

• Intermountain Power Project (IPP) Coal-fired baseload power generation facility delivering wholesale electricity and generation capacity to 35 public power participants (municipal utilities and electric cooperatives) across Utah, California, Nevada, Colorado, Wyoming, and Arizona under long-term Power Sales Contracts.
• IPP Renewed Transformative initiative extending the life of the Intermountain Power Project by deploying cleaner energy technologies at the IPP site to replace the legacy coal-fired generation, providing next-generation power supply to existing and future participants.

Named customers10 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered major, core and minor.

• Southern California Public Power Authority (SCPPA)majorStrategic or Co-development Partner · 1 January 1984SCPPA sold $1 billion of notes and bonds in January 1984 to provide initial funding for the Southern Transmission System (STS). California Purchasers assigned their STS rights to SCPPA, which makes payments-in-aid of construction to IPA on their behalf. SCPPA coordinates financing for the California purchasers' STS interest.
• California Purchasers (Anaheim, Riverside, Pasadena, Burbank, Glendale)coreStrategic or Co-development Partner · 6 August 1980Six California municipalities collectively hold 78.943% of generation entitlement. LADWP, Anaheim, Riverside, Pasadena, Burbank, and Glendale signed Power Sales Contracts (California Purchasers signed as of August 6, 1980) and participate on the Coordinating Committee.
• 23 Utah MunicipalitiescoreStrategic or Co-development Partner · 28 September 197823 Utah municipalities (including Bountiful, Lehi, Kaysville, Heber City, Murray City, Logan City, and others) organized IPA as a political subdivision of Utah and hold generation entitlement shares. They collectively represent approximately 14.04% of total generation entitlement.
• Utah Electric CooperativescoreStrategic or Co-development Partner · 28 September 1978Six Utah electric cooperatives (Moon Lake Electric Association, Mt. Wheeler Power, Dixie-Escalante Rural Electric Association, Garkane Power Association, Bridger Valley Electric Association, Flowell Electric Association) collectively hold 7.017% of generation entitlement, serving rural customers in Utah, Nevada, Colorado, Wyoming, and Arizona.
• Los Angeles Department of Water and Power (LADWP)coreStrategic or Co-development Partner · 22 June 1977LADWP serves as Project Manager and Operating Agent for IPP under the Construction Management and Operating Agreement (CMOA), responsible for constructing, operating, and maintaining the project. LADWP is also the largest purchaser with 48.617% generation entitlement share. LADWP shut down the coal plant in late 2024/early 2025, and LADWP representatives (David Hanson) participate on the Coordinating Committee.
• Intermountain Power Service Corporation (IPSC)majorImplementation/ SI/ Consulting PartnerIPSC provides operational and support functions for the Intermountain Power Project. LADWP has engaged IPSC and technical/management consultants to perform formal assessments of organizations responsible for management, operational, and support functions at the project.
• Holland and Hart LLPminorOthersLegal counsel to IPA, based in Salt Lake City, UT.
• Orrick, Herrington & Sutcliffe LLPminorOthersBond Counsel to IPA, based in New York, NY.
• Stifel, Nicolaus & CompanyminorOthersFinancial Advisor to IPA, based in Salt Lake City, UT.
• Deloitte & Touche LLPminorOthersIndependent Auditors for IPA, based in Salt Lake City, UT.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Bonneville Power Administration: Federal agency marketing power from federal dams and the Columbia Generating Station to Pacific Northwest public utilities and cooperatives — directly analogous federal joint-action wholesale transmission and generation agency.
• Western Area Power Administration (WAPA): Federal power marketing administration transmitting and selling wholesale power across 15 western states — same Western Interconnect footprint and preference-customer wholesale model underpinning IPA's NTS.
• Tennessee Valley Authority (TVA): Federal public-power corporation providing wholesale generation and transmission across seven Southeast states to municipal and cooperative utilities — same federally enabled, bond-financed, multi-state joint-action model at much larger scale.
• Salt River Project (SRP): Arizona-based public power utility and irrigation district that operates large-scale generation (coal-to-renewables transition) and delivers power across multiple counties — comparable multi-fuel public utility with long-term member-customer structure.
• Los Angeles Department of Water and Power (LADWP): Largest IPA purchaser (48.617% entitlement) and Operating Agent for IPP — vertically integrated municipal utility that owns generation, transmission, and distribution across Los Angeles and acts as a counterparty/operating partner to IPA.

Direct peers

• Colorado River Energy Distributors Association (CREDA): Joint-action agency supplying wholesale power from the Hoover/Navajo/Colorado River storage projects to preference customers across Arizona, Nevada, and California — comparable multi-state wholesale electric supply structure.
• Southern California Public Power Authority (SCPPA): Joint-action public power authority that financed the Southern Transmission System on behalf of IPA's California purchasers. Operates the same interlocal/multi-municipal agency model and coordinates transmission and power supply for the same Southern California municipal utilities.
• Platte River Power Authority: Wholesale-generation joint-action agency owned by four Colorado municipalities (Fort Collins, Loveland, Longmont, Estes Park) that supplies baseload power via long-term contracts — directly comparable to IPA's municipal-aggregation ownership and wholesale-only model.
• American Municipal Power (AMP): Not-for-profit joint-action agency serving 132+ municipal utilities across multiple states with wholesale generation, transmission, and renewable projects — operates the same multi-state wholesale power model with member-owned governance.
• MEAG Power (Municipal Electric Authority of Georgia): Joint-action agency providing wholesale generation and transmission to 49 Georgia municipal utilities through long-term power supply contracts — structurally analogous to IPA's 35-participant wholesale model with bond-secured contracts.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ipprenewed
• LinkedInlinkedin.com/company/intermountain-power-agency

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Intermountain Power Agency