DERIVATIVE FINANCIAL INSTRUMENTS: Level 3 (Tables)

6 Months Ended

Jun. 30, 2012

Derivative Financial Instruments [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

The table below presents the fair values and locations of derivative instruments not designated as hedging instruments recorded on the balance sheets at June 30, 2012 and December 31, 2011 (in thousands of dollars).

	Asset Derivatives			Liability Derivatives
	Balance Sheet	Fair		Balance Sheet	Fair
	Location	Value		Location	Value
June 30, 2012
Current:
Financial swaps	Other current assets	$	3,262	Other current assets	$	1,946
Financial swaps	Other current liabilities	3,668		Other current liabilities	7,043
Forward contracts	Other current assets	31		Other current liabilities	1,898
Forward contracts	Other current liabilities	134
Long-term:
Financial swaps	Other assets	428		Other assets	312
Financial swaps	Other liabilities	7		Other liabilities	310
Forward contracts	Other assets	241
Total		$	7,771		$	11,509
December 31, 2011
Current:
Financial swaps	Other current assets	$	4,361	Other current assets	$	1,036
Financial swaps	Other current liabilities	1,526		Other current liabilities	4,755
Forward contracts	Other current assets	70		Other current liabilities	1,370
Long-term:
Financial swaps	Other assets	359		Other liabilities	108
Total		$	6,316		$	7,269

Schedule of Derivative Instruments, Gain (Loss) in Statement of Financial Performance [Table Text Block]

The table below presents the gains and losses on derivatives not designated as hedging instruments for the three and six months endedJune 30, 2012 and 2011 (in thousands of dollars).

		Gain/(Loss) on Derivatives Recognized
		in Income(1)
	Location of Gain/(Loss) on Derivatives Recognized in Income	Three months ended						Six months ended
		June 30						June 30
		2012			2011			2012			2011
Financial swaps	Off-system sales	$	5,471		$	(215	)	$	9,910		$	6,506
Financial swaps	Purchased power	(2,159		)	195			(3,152		)	28
Financial swaps	Fuel expense	(3,633		)	386			(3,717		)	386
Financial swaps	Other operations and maintenance	24			227			(21		)	227

⁽¹⁾  Excludes changes in fair value of derivatives, which are recorded on the balance sheet as regulatory assets or regulatory liabilities.

Schedule of Derivative Instruments [Table Text Block]

Idaho Power had volumes of derivative commodity forward contracts and swaps outstanding at June 30, 2012 and 2011 set forth in the table below.

		June 30,
Commodity	Units	2012	2011
Electricity purchases	MWh	421,550	529,600
Electricity sales	MWh	1,358,245	764,875
Natural gas purchases	MMBtu	20,295,429	1,908,639
Natural gas sales	MMBtu	2,238,804	705,622
Diesel purchases	Gallons	537,374	449,248