Exhibit 12(b)

IDACORP, INC.Consolidated Financial InformationRatio of Earnings to Combined Fixed Charges and Preferred DividendsRequirements
|                                 |                                     | ** **                    |       |
|--------------------------------------|------------------------------------------|-------------------------------|------------|
|                                 |                                     | **Twelve Months Ended**       |       |
|                                 |                                     | **December 31,**              | ** ** |
|                                 |                                     | **(Thousands of Dollars)**    |       |
|                                 |                                     |                          | ** ** |
|                                 |                                     | **2001**                      | ** ** | **2002** | ** ** | **2003** | ** ** | **2004** |   | **2005** |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings,  as defined:               |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | Income  before income taxes              |                          | $          | 189,860  |   | $ | 10,525  |   | $ | 25,459  |   | $ | 48,213  |   | $ | 76,582 |
|                                 | Adjust  for distributed income of equity |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     | investees                     |       |   | (1,620) |   |   | (2,544) |   |   | (20,536) |   |   | 26,616  |   |   | 4,069 |
|                                 | Equity  in loss of equity method         |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     | investments                   |       |   | 296  |   |   | -  |   |   | -  |   |   | -  |   |   | - |
|                                 | Minority  interest in losses of majority |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     | owned  subsidiaries           |       |   | (612) |   |   | (211) |   |   | (435) |   |   | (48) |   |   | - |
|                                 | Fixed  charges, as below                 |                          |       | 85,034  |   |   | 62,658  |   |   | 68,134  |   |   | 66,137  |   |   | 64,379 |
|                                 |                                     | Total  earnings, as defined   |       | $ | 272,958  |   | $ | 70,428  |   | $ | 72,622  |   | $ | 140,918  |   | $ | 145,030 |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed  charges, as defined:          |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | Interest  charges                        |                          | $          | 75,305  |   | $ | 60,031  |   | $ | 64,813  |   | $ | 61,269  |   | $ | 62,962 |
|                                 | Preferred  stock dividends of            |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     | subsidiaries  - gross up -    |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     | IDACORP  rate                 |       |   | 8,142  |   |   | 857  |   |   | 1,915  |   |   | 3,216  |   |   | - |
|                                 | Rental  interest factor                  |                          |       | 1,587  |   |   | 1,770  |   |   | 1,406  |   |   | 1,652  |   |   | 1,417 |
|                                 |                                     | Total  fixed charges          |       | $ | 85,034  |   | $ | 62,658  |   | $ | 68,134  |   | $ | 66,137  |   | $ | 64,379 |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | Preferred  dividends requirements        |                          |       | -  |   |   | -  |   |   | -  |   |   | -  |   |   |   |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     | Total  combined fixed charges |       | $ | 85,034  |   | $ | 62,658  |   | $ | 68,134  |   | $ | 66,137  |   | $ | 64,379 |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio  of earnings to combined fixed |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
|                                 | charges  and preferred dividends         |                          |       | 3.21x |   |   | 1.12x |   |   | 1.07x |   |   | 2.13x |   |   | 2.25x |
|                                 |                                     |                          |       |   |   |   |   |   |   |   |   |   |   |   |   |
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