Exhibit 12f

Idaho Power CompanyConsolidated Financial InformationRatio of Earnings to Combined Fixed Charges and Preferred DividendsRequirements
|                                        |                                     |                          |
|---------------------------------------------|------------------------------------------|-------------------------------|
|                                        |                                     | **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) |   |   | -  |   |   | -  |   |   | -  |   |   | -  |   |   | -  |
|                                        | Fixed  charges, as below                 |                          |   | 61,394  |   |   | 62,969  |   |   | 58,833  |   |   | 64,964  |   |   | 61,403  |   |   | 60,304  |
|                                        |                                     | Total  earnings, as defined   |   | $ | 190,069  |   | $ | 182,004  |   | $ | 183,856  |   | $ | 111,594  |   | $ | 145,185  |   | $ | 120,087  |
|                                        |                                     |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| 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  |
|                                        |                                     |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Preferred  stock dividends - gross up Idaho |                                     |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                        | Power  rate                              |                          |   | 8,275  |   |   | 8,133  |   |   | 9,564  |   |   | 9,033  |   |   | 4,456  |   |   | 4,668  |
|                                        |                                     |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                        |                                     | Total  combined fixed charges |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                        |                                     |                          | and  preferred dividends |   | $ | 69,669 |   | $ | 71,102  |   | $ | 68,397  |   | $ | 73,997  |   | $ | 65,859  |   | $ | 64,972  |
|                                        |                                     |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio  of earnings to fixed charges         |                                     |                          | 2.73x |   |   | 2.56x |   |   | 2.69x |   |   | 1.51x |   |   | 2.20x |   |   | 1.85x |
|                                        |                                     |                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                             |                                          |                               |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |