If you think utility stocks are just for income-hungry retirees, you haven’t looked at Idacorp (NYSE: IDA) lately. In a market obsessed with flashy tech plays and volatile AI bets, Idaho’s humble power provider is quietly charging up for growth, and savvy investors are starting to take notice.

What makes Idacorp, traditionally a slow-and-steady utility, an appealing pick in 2025?

First, let’s talk about location. Idacorp’s territory covers one of the fastest-growing states in the U.S., Idaho. The state’s population has surged nearly 3% annually in recent years, driving up residential, commercial, and industrial electricity demand. More people = more power.

Then, there’s the AI angle. Yes, even a utility stock can get a piece of the AI boom. As data centers expand across the Mountain West, driven by AI’s insatiable hunger for electricity, utilities like Idacorp, which offer cheap, reliable hydropower, become prime suppliers. According to the U.S. Energy Information Administration, Idaho boasts some of the lowest electricity costs in the country. That makes it a magnet for power-hungry infrastructure.

Idacorp isn’t just coasting on demographic tailwinds. The company has consistently beaten earnings estimates, maintained a rock-solid dividend (currently yielding around 3%), and continues to invest in grid upgrades and clean energy.

And yet, the stock is still under the radar.

With a forward P/E around 17 (as of May 2025), IDA looks attractively valued compared to peers like NextEra Energy (NEE) or Dominion (D), especially considering its low debt, strong regulatory environment, and long-term growth profile.

In a world where volatility is the norm, IDA offers a rare combination of defense and upside. It’s not flashy, but it’s effective. The utility sector is often overlooked during bull runs, but as inflation moderates and interest rate cuts loom, stable dividend payers with growth upside like Idacorp will likely shine.

Idacorp might not be on your radar, but maybe it should be. It’s quietly partaking in the AI infrastructure boom, benefiting from population growth and power-hungry tech, while delivering steady income and dependable returns. For long-term investors looking to plug into growth without the drama, IDA stock could be a powerful pick.

Are you ready to level up from Monopoly and start playing the long game? It might be time to put Idacorp on your watchlist or in your portfolio.