Exhibit 12f

Idaho Power Company
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements

														Twelve
				Twelve Months Ended										Months
				December 31,										Ended
				(Thousands of Dollars)										March 31,
				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	$	72,108
	Adjust for distributed income of equity
		investees			(4,697)		(837)		(3,116)		(1,620)		(2,544)		(10,309)
	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		61,342
		Total earnings, as defined		$	190,069	$	182,004	$	183,856	$	111,594	$	145,185	$	123,141
Fixed charges, as defined:
	Interest charges			$	60,593	$	62,014	$	57,797	$	64,002	$	60,317	$	60,332
	Rental interest factor				801		955		1,036		962		1,086		1,010
		Total fixed charges		$	61,394	$	62,969	$	58,833	$	64,964	$	61,403	$	61,342
Preferred stock dividends - gross up Idaho
	Power rate				8,275		8,133		9,564		9,033		4,456		3,670
		Total combined fixed charges
			and preferred dividends	$	69,669	$	71,102	$	68,397	$	73,997	$	65,859	$	65,012
Ratio of earnings to fixed charges					2.73x		2.56x		2.69x		1.51x		2.20x		1.89x