Exhibit 12

IDACORP, INC.
Consolidated Financial Information
Ratio of Earnings to Fixed Charges

			Twelve Months Ended
			December 31,
			(Thousands of Dollars)
													June 30,
			2000		2001		2002		2003		2004		2005
Earnings, as defined:
	Income before income taxes		$	210,701	$	189,860	$	10,525	$	25,459	$	48,213	$	48,405
	Adjust for distributed income of equity
		investees		(3,116)		(1,620)		(2,544)		(20,536)		26,616		17,869
	Equity in loss of equity method
		investments		186		296		-		-		-		-
	Minority interest in losses of majority
		owned subsidiaries		(1,468)		(612)		(211)		(435)		(48)		-
	Fixed charges, as below			73,261		85,034		62,658		68,134		66,137		65,888
		Total earnings, as defined	$	279,564	$	272,958	$	70,428	$	72,622	$	140,918	$	132,162
Fixed charges, as defined:
	Interest charges		$	63,339	$	75,305	$	60,031	$	64,813	$	61,269	$	62,229
	Preferred stock dividends of
		subsidiaries - gross up -
		IDACORP rate		8,886		8,142		857		1,915		3,216		2,101
	Rental interest factor			1,036		1,587		1,770		1,406		1,652		1,558
		Total fixed charges, as defined	$	73,261	$	85,034	$	62,658	$	68,134	$	66,137	$	65,888
Ratio of earnings to fixed charges				3.82x		3.21x		1.12x		1.07x		2.13x		2.01x