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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)** |
|                                                                                                                         |
| ** **                                                                                                              | **2008** | **2007** | **2006** | **2005** | **2004** |
| Earnings, as defined:                                                                                                   |  |  |  |  |  |
|                                                                                                                         |  |  |  |  |  |
| Income from  continuing operations before income taxes                                                                  |  $ | 117,614  |  $ | 96,003  |  $ | 115,452  |  $ | 103,327  |  $ | 60,830  |
| Adjust for  distributed income of equity investees                                                                      | 5,176 | 6,064  | (9,347) | (10,370) | 1,990  |
| Equity in loss of  equity method investments                                                                            | -  | -  | -  | -  | -  |
| Minority interest in  losses of majority owned                                                                          |  |  |  |  |  |
| subsidiaries                                                                                                            | -  | -  | -  | -  | (48) |
| Supplemental fixed  charges, as below                                                                                   | 82,962  | 74,631  | 67,521  | 65,991  | 67,654  |
| Total earnings, as  defined                                                                                             |  $ | 205,752  |  $ | 176,698  |  $ | 173,626  |  $ | 158,948  |  $ | 130,426  |
|                                                                                                                         |  |  |  |  |  |
| Fixed charges, as defined:                                                                                              |  |  |  |  |  |
|                                                                                                                         |  |  |  |  |  |
| Interest charges1                                                                                                       |  $ | 80,282  |  $ | 71,946  |  $ | 64,720  |  $ | 62,962  |  $ | 61,269  |
| Preferred stock  dividends of  subsidiaries - gross up -                                                           |  |  |  |  |  |
| IDACORP rate                                                                                                            | -  | -  | -  | -  | 3,216  |
| Rental interest  factor                                                                                                 | 890  | 933  | 1,025  | 1,417  | 1,652  |
| Total fixed charges,  as defined                                                                                        |  $ | 81,172  |  $ | 72,879  |  $ | 65,745  |  $ | 64,379  |  $ | 66,137  |
|                                                                                                                         |  |  |  |  |  |
| Supplemental increment to fixed  charges2                                                                               | 1,790  | 1,752  | 1,776  | 1,612  | 1,517  |
|                                                                                                                         |  |  |  |  |  |
| Total supplemental  fixed charges                                                                                       |  $ | 82,962  |  $ | 74,631  |  $ | 67,521  |  $ | 65,991  |  $ | 67,654  |
|                                                                                                                         |  |  |  |  |  |
| Ratio of earnings to fixed charges                                                                                      | 2.48 x | 2.37 x | 2.57 x | 2.41 x | 1.93 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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