SECURITIES AND EXCHANGE COMMISSION

                     Washington, D.C.  20549


                            FORM 8-K
                                
                                
                         CURRENT REPORT
                                
             PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934
                                
                                
                 Date of Report August 11, 1994
                                
                (Date of earliest event reported)
                                
                                
                   ---------------------------
                                
                                
                       IDAHO POWER COMPANY
       (Exact name of registrant as specified in charter)
                                
                                
                                
           Idaho                  1-3198         82-0130980
(State or other jurisdiction   (Commission     (I.R.S. Employer
     of incorporation)         File Number)    Identification No.)


                       1221 W Idaho Street
                                
                     Boise, Idaho 83702-5627
                                
      (Address of principal executive offices)   (Zip Code)
                                
          Registrant's telephone number, (208) 383-2200
                                
                                
                                
                                
      _____________________________________________________
      Former name or address, if changed since last report.
                       Idaho Power Company

                            Form 8-K


Items 1 through 4 and Items 6 and 7 are inapplicable and have
        been omitted herefrom.

Item 5. Other Events

On August 5, 1994, the Idaho Public Utilities Commission, in a 2-1
vote, denied Idaho Power's request for $11.5 million in interim
rate relief.

In its general rate case application filed June 30, 1994, the
Company included major capital improvements at two hydroelectric
facilities (Milner and Swan Falls) and indicated its desire to
begin recovering these additional costs through interim rates.

The Commission Staff and Intervenors presented testimony that
interim rate relief is extraordinary relief to be used only in
extraordinary situations.

Two of the three commissioners supported the Staff's and
Intervenors' contention that a financial emergency or immediate
need must be shown before allowing Idaho Power interim rate
relief.  They contended that the timing of the rate case filing
was in the Company's control; that the power cost adjustment
mechanism sufficiently insulates the Company from power cost
fluctuations; and determined that recovery on the Milner and Swan
Falls investments should occur through the usual process in
considering the Company's request for permanent rate relief. One
of the three commissioners voted to approve the interim increase.

The Company intends to proceed as planned in its general rate
case.  This order denying interim rate relief should have no
bearing or impact on that effort.  The Commission has tentatively
set the week of October 10, 1994 for cross-examination of the
Company witnesses.  The Idaho PUC Staff and Intervenors will pre-
file testimony on November 22, 1994 with hearings commencing on
December 12, 1994.



SIGNATURES

        Pursuant to the requirements of the Securities Exchange
Act of 1934, the registrant has duly caused this report to be
signed on its behalf by the undersigned thereunto duly
authorized.

                              IDAHO POWER COMPANY



                 By: /s/             J LaMont Keen
                                     J LaMont Keen
                     Vice President and Chief Financial Officer

Dated:              August 11, 1994