Exhibit 12e

Idaho Power CompanyConsolidated Financial InformationSupplemental Ratio of Earnings to Fixed Charges
|                                      |                                     |                        |
|-------------------------------------------|------------------------------------------|-----------------------------|
|                                      |                                     | **Twelve Months Ended**     |
|                                      |                                     | **December 31,**            |
|                                      |                                     | **(Thousands of Dollars)**  |
|                                      |                                     |                        |
|                                      |                                     | **1998**                    |   | **1999** |   | **2000** |   | **2001** |   | **2002** |   | **2003** |
|                                      |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |
| Earnings,  as defined:                    |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      | Income  from continuing operations       |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      |                                     | before  income taxes        |   | $ | 133,021  |   | $ | 119,872  |   | $ | 128,139  |   | $ | 48,250  |   | $ | 86,326  |   | $ | 80,319  |
|                                      | Adjust  for distributed income of equity |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      |                                     | investees                   |   |   | (4,697) |   |   | (837) |   |   | (3,116) |   |   | (1,620) |   |   | (2,544) |   |   | (20,536) |
|                                      | Equity  in loss of equity method         |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      |                                     | investments                 |   |   | 476  |   |   | -  |   |   | -  |   |   | -  |   |   | -  |   |   | -  |
|                                      | Minority  interest in losses of majority |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      |                                     | owned  subsidiaries         |   |   | (125) |   |   | -  |   |   | -  |   |   | -  |   |   | -  |   |   | -  |
|                                      | Supplemental  fixed charges, as below    |                        |   | 63,967  |   |   | 65,526  |   |   | 61,372  |   |   | 66,748  |   |   | 63,002  |   |   | 61,849  |
|                                      |                                     | Total  earnings, as defined |   | $ | 192,642  |   | $ | 184,561  |   | $ | 186,395  |   | $ | 113,378  |   | $ | 146,784  |   | $ | 121,632  |
|                                      |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed  charges, as defined:               |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      | Interest  charges                        |                        | $ | 60,593  |   | $ | 62,014  |   | $ | 57,797  |   | $ | 64,002  |   | $ | 60,317  |   | $ | 59,363  |
|                                      | Rental  interest factor                  |                        |   | 801  |   |   | 955  |   |   | 1,036  |   |   | 962  |   |   | 1,086  |   |   | 941  |
|                                      |                                     | Total  fixed charges        |   | $ | 61,394  |   | $ | 62,969  |   | $ | 58,833  |   | $ | 64,964  |   | $ | 61,403  |   | $ | 60,304  |
|                                      |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental  increment to fixed charges* |                                     |                        | 2,573  |   |   | 2,557  |   |   | 2,539  |   |   | 1,784  |   |   | 1,599  |   |   | 1,545  |
|                                      |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      | Total  supplemental fixed charges        |                        | $ | 63,967  |   | $ | 65,526  |   | $ | 61,372  |   | $ | 66,748  |   | $ | 63,002  |   | $ | 61,849  |
|                                      |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental  ratio of earnings to fixed  |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                      | charges                                  |                        |   | 3.01x |   |   | 2.82x |   |   | 3.04x |   |   | 1.70x |   |   | 2.33x |   |   | 1.97x |
|                                      |                                     |                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

*Explanation ofincrement - Interest on the guaranty of American Falls Reservoir District bondsand Milner Dam, Inc. notes which are already included in operation expenses.