Business
Dark Days Ahead For Hoku?
January 3, 2012 
Idaho Power still has its finger on the power switch at the Hoku solar panel plant under construction at Pocatello, but the Idaho Public Utilities Commision is telling the utility to wait awhile before cutting electricity.
Idaho Power Co. had threatened to shut off electricity after the Honolulu-based polysilicon maker missed a $1.9 million November payment because of “cash problems.” PUC Commishes set a schedule to hear out the dispute, with arguments set for meetings next Tuesday or Wednesday. As long as the case is unresolved, regulators say Idaho Power can’t shut off electricity to Hoku.
Hoku claims that losing power in the middle of a freezing winter could jeopardize just-completed facilities its new $360 million Pocatello plant. On the flip side, Idaho Power says allowing Hoku to continue to receive electricity without paying its bills puts the utility at risk of losing millions in the deal.
The company is obviously in trouble following a dramatic dip in its stock price and considerable negative comments in the financial media. Idaho power has a legitimate concern about getting stuck and the PUC commishes are in the position of being the “power broker” with–no doubt–plenty of political pressure from locals in Pocatello.
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