Exhibit 12c

IDACORP, INC.Consolidated Financial InformationSupplemental Ratio of Earnings to Combined Fixed Charges and PreferredDividends Requirements
|                                       |                                     |                           |
|--------------------------------------------|------------------------------------------|--------------------------------|
|                                       |                                     | **Twelve Months Ended**        |
|                                       |                                     | **December 31,**               |
|                                       |                                     | **(Thousands of Dollars)**     |
|                                       |                                     |                           |
|                                       |                                     | **1999**                       |   | **2000** |   | **2001** |   | **2002** |   | **2003** |   | **2004** |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |
| Earnings,  as defined:                     |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       | Income  before income taxes              |                           | $ | 137,021  |   | $ | 210,701  |   | $ | 189,860  |   | $ | 10,525  |   | $ | 25,459  |   | $ | 48,213  |
|                                       | Adjust  for distributed income (loss)    |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | of  equity investees           |   |   | (837) |   |   | (3,116) |   |   | (1,620) |   |   | (2,544) |   |   | (20,536) |   |   | 26,616  |
|                                       | Equity  in loss of equity method         |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | investments                    |   |   | 435  |   |   | 186  |   |   | 296  |   |   | -  |   |   | -  |   |   | -  |
|                                       | Minority  interest in losses of majority |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | owned  subsidiaries            |   |   | (37) |   |   | (1,468) |   |   | (612) |   |   | (211) |   |   | (435) |   |   | (48) |
|                                       | Supplemental  fixed charges and          |                           |   | 74,800  |   |   | 75,800  |   |   | 86,818  |   |   | 64,257  |   |   | 69,679  |   |   | 67,654  |
|                                       |                                     | Preferred  dividends, as below |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | Total  earnings, as defined    |   | $ | 211,382  |   | $ | 282,103  |   | $ | 274,742  |   | $ | 72,027  |   | $ | 74,167  |   | $ | 142,435  |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed  charges, as defined:                |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       | Interest  charges                        |                           | $ | 62,975  |   | $ | 63,339  |   | $ | 75,305  |   | $ | 60,031  |   | $ | 64,813  |   | $ | 61,269  |
|                                       | Preferred  stock dividends of            |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | subsidiaries  - gross up -     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | IDACORP  rate                  |   |   | 8,313  |   |   | 8,886  |   |   | 8,142  |   |   | 857  |   |   | 1,915  |   |   | 3,216  |
|                                       | Rental  interest factor                  |                           |   | 955  |   |   | 1,036  |   |   | 1,587  |   |   | 1,770  |   |   | 1,406  |   |   | 1,652  |
|                                       |                                     | Total  fixed charges           |   | $ | 72,243  |   | $ | 73,261  |   | $ | 85,034  |   | $ | 62,658  |   | $ | 68,134  |   | $ | 66,137  |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental  increment to fixed charges * |                                     |                           | 2,557  |   |   | 2,539  |   |   | 1,784  |   |   | 1,599  |   |   | 1,545  |   |   | 1,517  |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental  fixed charges                |                                     |                           | 74,800  |   |   | 75,800  |   |   | 86,818  |   |   | 64,257  |   |   | 69,679  |   |   | 67,654  |
| Preferred  dividends requirements          |                                     |                           | -  |   |   | -  |   |   | -  |   |   | -  |   |   | -  |   |   | -  |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     | Total  combined supplemental   |   | $ | 74,800  |   | $ | 75,800  |   | $ | 86,818  |   | $ | 64,257  |   | $ | 69,679  |   | $ | 67,654  |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Supplemental  ratio of earnings to         |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       | combined  fixed charges and preferred    |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                       | Dividends                                |                           |   | 2.83x |   |   | 3.72x |   |   | 3.16x |   |   | 1.12x |   |   | 1.06x |   |   | 2.11x |
|                                       |                                     |                           |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

*Explanationof increment - Interest on the guaranty of American Falls Reservoir Districtbonds and Milner Dam, Inc. notes which are already included in operationexpenses.