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**Exhibit 12.2**                                                                               |
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| **IDACORP, Inc.**                                                                                                      |
| **Consolidated Financial Information**                                                                                 |
| **Supplemental Ratio of Earnings to Fixed Charges**                                                                    |
| ** **                                                                                                             |
| ** **                                                                                                             | **Twelve Months Ended** |
| ** **                                                                                                             | **December 31,** |
| ** **                                                                                                             | **(Thousands of Dollars)** |
| ** **                                                                                                             |
| ** **                                                                                                             | **2007** | **2006** | **2005** | **2004** | **2003** |
|                                                                                                                        |  |  |  |  |  |
| Earnings, as defined:                                                                                                  |  |  |  |  |  |
|                                                                                                                        |  |  |  |  |  |
| Income  from continuing operations before income taxes                                                                 |  $ | 96,003  |  $ | 115,452  |  $ | 103,327  |  $ | 60,830  |  $ | 31,063  |
| Adjust  for distributed income of equity investees                                                                     | 6,064  | (9,347) | (10,370) | 1,990  | (2,136) |
| Equity  in loss of equity method investments                                                                           | -  | -  | -  | -  | -  |
| Minority  interest in losses of majority owned                                                                         |  |  |  |  |  |
| subsidiaries                                                                                                           | -  | -  | -  | (48) | (435) |
| Supplemental  fixed charges, as below                                                                                  | 74,631  | 67,521  | 65,991  | 67,654  | 69,679  |
| Total  earnings, as defined                                                                                            |  $ | 176,698  |  $ | 173,626  |  $ | 158,948  |  $ | 130,426  |  $ | 98,171  |
|                                                                                                                        |  |  |  |  |  |
| Fixed charges, as defined:                                                                                             |  |  |  |  |  |
|                                                                                                                        |  |  |  |  |  |
| Interest  charges1                                                                                                     |  $ | 71,946  |  $ | 64,720  |  $ | 62,962  |  $ | 61,269  |  $ | 64,813  |
| Preferred  stock dividends of  subsidiaries - gross up -                                                          |  |  |  |  |  |
| IDACORP  rate                                                                                                          | -  | -  | -  | 3,216  | 1,915  |
| Rental  interest factor                                                                                                | 933  | 1,025  | 1,417  | 1,652  | 1,406  |
| Total  fixed charges, as defined                                                                                       |  $ | 72,879  |  $ | 65,745  |  $ | 64,379  |  $ | 66,137  |  $ | 68,134  |
|                                                                                                                        |  |  |  |  |  |
| Supplemental increment to  fixed charges2                                                                              | 1,752  | 1,776  | 1,612  | 1,517  | 1,545  |
|                                                                                                                        |  |  |  |  |  |
| Total  supplemental fixed charges                                                                                      |  $ | 74,631  |  $ | 67,521  |  $ | 65,991  |  $ | 67,654  |  $ | 69,679  |
|                                                                                                                        |  |  |  |  |  |
| Ratio of earnings to fixed  charges                                                                                    | 2.37 x | 2.57 x | 2.41 x | 1.93 x | 1.41 x |
|                                                                                                                        |  |  |  |  |    |
| 1 FIN 48 interest is not included in interest charges.                                                                 |  |  |  |  |  |
|                                                                                                                        |  |  |  |  |  |
| 2 Explanation of increment - Interest on the guaranty  of American Falls Reservoir District bonds and Milner Dam, Inc. |
| notes  which are already included in operation expenses.                                                               |

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