Exhibit 12(b)

IDACORP, Inc.
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
Requirements

|                                      |                                           |                              |      |        |                       
|------------------------------------- | ----------------------------------------- | ---------------------------- | ---- | ------ | ----------------------
|                                      |                                           |                              |      |        | Twelve Months Ended   
|                                      |                                           |                              |      |        | December 31,          
|                                      |                                           |                              |      |        | (Thousands of Dollars)
|                                      |                                           |                              |      |        |                       
|                                      |                                           |                              | 2006 |        | 2005                  
|                                      |                                           |                              |      |        |                       
|Earnings, as defined:                 |                                           |                              |      |        |                       
|                                      | Income from continuing
  operations       |                              |      |        |                       
|                                      |                                           | before income taxes          |      | $      | 115,452               
|                                      | Adjust for distributed
  income of equity |                              |      |        |                       
|                                      |                                           | investees                    |      |        | (9,347)               
|                                      | Equity in loss of equity
  method         |                              |      |        |                       
|                                      |                                           | investments                  |      |        | -                     
|                                      | Minority interest in losses
  of majority |                              |      |        |                       
|                                      |                                           | owned subsidiaries           |      |        | -                     
|                                      | Fixed charges, as below                   |                              |      | 65,745 |                       
|                                      |                                           | Total earnings, as defined   |      | $      | 171,850               
|                                      |                                           |                              |      |        |                       
|Fixed charges, as defined:            |                                           |                              |      |        |                       
|                                      | Interest charges                          |                              | $    | 64,720 |                       
|                                      | Preferred stock dividends of              |                              |      |        |                       
|                                      |                                           | subsidiaries - gross up -    |      |        |                       
|                                      |                                           | IDACORP rate                 |      |        | -                     
|                                      | Rental interest factor                    |                              |      | 1,025  |                       
|                                      |                                           | Total fixed charges          |      | $      | 65,745                
|                                      |                                           |                              |      |        |                       
|                                      | Preferred dividends
  requirements        |                              |      | -      |                       
|                                      |                                           |                              |      |        |                       
|                                      |                                           | Total combined fixed charges |      | $      | 65,745                
|                                      |                                           |                              |      |        |                       
|                                      |                                           |                              |      |        |                       
|Ratio of earnings to
  combined fixed |                                           |                              |      |        |                       
|                                      | charges and preferred
  dividends         |                              |      | 2.61x  |                       
|                                      |                                           |                              |      |        |                       
|                                      |                                           |                              |      |        |