Exhibit 99

FOR IMMEDIATE RELEASE
November 3, 2005

IDACORP Announces Third Quarter 2005 Results

BOISE - IDACORP, Inc. (NYSE:IDA) today reported third quarter net income of $23.6 million as compared with $26.1 million in 2004 and year-to-date earnings of $56.1 million versus $58.7 million last year.

Earnings per share fell by 12 cents for the quarter to 56 cents per share and by 21 cents for the first nine months to $1.33 per share.

"We continue to see good performance from Idaho Power at the operating level with record growth in customers resulting in increased sales at higher prices," said IDACORP President and Chief Executive Officer Jan B. Packwood.  "Our decline in earnings compared to a year ago includes the result of reversing in the third quarter Idaho Power's previously accrued 2005 tax deduction related to capitalized overhead costs.

"We are continuing to invest in our existing infrastructure and in the new power plants, lines and substations that robust growth requires, while at the same time taking steps to ensure fair and timely recovery of those costs," said Packwood.

Last week Idaho Power filed for an additional $44 million in annual revenue which, if approved by the Idaho Public Utilities Commission (IPUC), would result in an overall average increase of 7.8 percent to base rates.  Idaho Power cannot predict what level of rate adjustment the IPUC will grant.

Third Quarter and Year-To-Date Performance Summary

IDACORP's earnings per share in the third quarter reflect the combination of 50 cents per share at the regulated utility and six cents per share at the holding company and non-regulated businesses, including intraperiod tax allocations.  Year-to-date, Idaho Power has recorded earnings of $1.31 per share while the holding company and non-regulated companies registered a net contribution of two cents per share.

Idaho Power's third quarter general business revenues increased $20.5 million or 11 percent over last year's third quarter due to the combined benefits of increases in customers, usage per customer and average revenue per customer.  Idaho Power added more than 16,000 general business customers over the past 12 months, a 3.7 percent increase, while the overall average electrical use per customer increased by 2.2 percent.

Compared with third quarter 2004, the average use per customer in the irrigation class during third quarter 2005 increased by more than 6 percent.  Temperatures during the third quarter were 32.4 percent warmer than normal and 7.5 percent warmer than the same period last year.

During the third quarter, Idaho Power recorded additional income tax expense of $2 million related to the reversal of its previously accrued 2005 tax deduction related to capitalized overhead costs.  Recently released Treasury Regulations have negatively impacted Idaho Power's continued use of that tax method.  The reversal of the capitalized overhead deduction, coupled with changes in other flow-through tax adjustments, have increased IDACORP and Idaho Power's 2005 effective income tax rates over prior quarters.  For the nine months ended September 30, 2004, IDACORP and Idaho Power's income tax expense was positively impacted by the reversal of a regulatory tax liability, the capitalized overhead tax deduction, and settlement of prior tax audits.

Analysis of Earnings

The following table summarizes earnings per share (EPS) from each of the business units:

	Three Months Ended				Year-To-Date
Subsidiary	9/30/05		9/30/04		9/30/05		9/30/04
Idaho Power Company	$	0.50	$	0.63	$	1.31	$	1.34
IDACORP Energy		0.00		0.04		(0.01)		0.06
IDACORP Financial Services		0.06		0.07		0.18		0.26
Ida-West Energy		0.02		0.02		0.04		0.08
IdaTech		(0.06)		(0.04)		(0.16)		(0.11)
IDACOMM		(0.02)		(0.01)		(0.02)		(0.02)
Holding Company		0.06		(0.03)		(0.01)		(0.07)
	$	0.56	$	0.68	$	1.33	$	1.54

The following table summarizes the effect of certain items on EPS:

			Three Months Ended		Year-To-Date
Subsidiary			9/30/05	9/30/04	9/30/05	9/30/04
Idaho Power Company
	Reverse tax liability reserve			0.43		0.43
	General rate case settlement			(0.31)		(0.31)
	Financing costs - preferred stock			(0.05)		(0.05)
	Reverse capitalized overhead costs		(0.05)
Non-Regulated
	IDACORP Energy settlement
		of legal matters		0.05		0.08
	Sale of El Cortez					0.05
	Ida-West Debt Restructure					0.05

Projected Key Operating & Financial Metrics - 2005

The projected key operating and financial metrics for 2005 are:

		Previous	Current
Metric		Estimate	Estimate
Idaho Power Company Operation & Maintenance Expense
	(Millions)	$244-$248	No change
Idaho Power Company Capital Expenditures (Millions)		$190-$200	$185-$195
Idaho Power Company Hydroelectric Generation (Million
	MWh)	6.3	No change
Non-regulated Subsidiary Earnings Per Share		$0.00-$0.05	$(0.05)-$(0.10)
Effective Tax Rates:
	Idaho Power Company	35% - 40%	38%-43%
	Consolidated - IDACORP	5%	11%-16%

Non-regulated subsidiary earnings per share estimates have been revised to reflect increased estimated losses at IdaTech and lower estimated income from IDACOMM.

Idaho Power currently expects to spend from $185 million to $195 million in capital expenditures, excluding allowance for funds used during construction and other non-cash items.

Web Cast / Conference Call

The company will hold an analyst conference call today at 2:30 p.m. Mountain Time (4:30 p.m. Eastern Time).  All parties interested in listening may do so through a live Web cast.  Details of the conference call logistics are posted on the company's Web site (http://www.idacorpinc.com).  A replay of the conference call will be available on the company's Web site for a period of 12 months.

Background Information / Safe Harbor Statement

Boise, Idaho-based IDACORP, formed in 1998, is a holding company comprised of Idaho Power Company, a regulated electric utility; IDACORP Financial, a holder of affordable housing projects and other real estate investments; IdaTech, a developer of integrated fuel cell systems; IDACOMM, a provider of telecommunication services and commercial Internet services; and Ida-West Energy, an operator of small hydroelectric generation projects that satisfy the requirements of the Public Utility Regulatory Policies Act of 1978.

Certain statements contained in this news release, including statements with respect to future earnings, ongoing operations, and financial conditions, are "forward-looking statements" within the meaning of federal securities laws.  Although IDACORP and Idaho Power believe that the expectations and assumptions reflected in these forward-looking statements are reasonable, these statements involve a number of risks and uncertainties, and actual results may differ materially from the results discussed in the statements.  Factors that could cause actual results to differ materially from the forward-looking statements include:  changes in governmental policies, including new interpretations of existing policies and regulatory actions and regulatory audits, including those of the Federal Energy Regulatory Commission, the Idaho Public Utilities Commission, the Oregon Public Utility Commission and the Internal Revenue Service with respect to allowed rates of return, industry and rate structure, day-to-day business operations, acquisition and disposal of assets and facilities, operation and construction of plant facilities, relicensing of hydroelectric projects, recovery of purchased power expenses, recovery of other capital investments, present or prospective wholesale and retail competition (including but not limited to retail wheeling and transmission costs) and other refund proceedings; changes arising from the recently enacted Energy Policy Act of 2005; litigation and regulatory proceedings, including those resulting from the energy situation in the western United States, and settlements that influence business and profitability; changes in and compliance with environmental, endangered species and safety laws and policies; weather variations affecting hydroelectric generating conditions and customer energy usage; over-appropriation of surface and groundwater in the Snake River Basin resulting in reduced generation at hydroelectric facilities; construction of power generating facilities including inability to obtain required governmental permits and approvals, and risks related to contracting, construction and start-up; operation of power generating facilities including breakdown or failure of equipment, performance below expected levels, competition, fuel supply, including availability, transportation and prices, and transmission; impacts from the potential formation of a regional transmission organization; population growth rates and demographic patterns; market demand and prices for energy, including structural market changes; changes in operating expenses and capital expenditures and fluctuations in sources and uses of cash; results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by factors such as credit ratings and general economic conditions; actions by credit rating agencies, including changes in rating criteria and new interpretations of existing criteria; homeland security, natural disasters, acts of war or terrorism; market conditions and technological developments that could affect the operations and prospects of IDACORP's subsidiaries or their competitors; increasing health care costs and the resulting effect on health insurance premiums paid for employees; performance of the stock market and the changing interest rate environment, which affect the amount of required contributions to pension plans, as well as the reported costs of providing pension and other postretirement benefits; increasing costs of insurance, changes in coverage terms and the ability to obtain insurance; changes in tax rates or policies, interest rates or rates of inflation; adoption of or changes in critical accounting policies or estimates; and new accounting or Securities and Exchange Commission requirements, or new interpretation or application of existing requirements.  Any such forward-looking statements should be considered in light of such factors and others noted in the companies' Form 10-K for the year ended December 31, 2004, the Quarterly Reports on Form 10-Q for the quarters ended March 31, and June 30, 2005 and other reports on file with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which such statement is made.  New factors emerge from time to time and it is not possible for management to predict all such factors, nor can it assess the impact of any such factor on the business or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any forward-looking statement.

IDACORP, Inc.
Condensed Consolidated Statements of Income
For Periods Ended September 30, 2005 and 2004
(unaudited)
(Thousands of Dollars, except per share amounts)

				Three Months Ended				Year-To-Date
				9/30/05		9/30/04		9/30/05		9/30/04
Operating Revenues:
	Electric utility:
		General business		$	207,237	$	186,687	$	504,189	$	491,149
		Off-system sales			34,105		34,969		105,189		99,899
		Other revenues			2,890		19,532		25,429		40,653
			Total electric utility revenue		244,232		241,188		634,807		631,701
	Other				4,910		5,489		15,988		15,037
		Total Operating Revenues			249,142		246,677		650,795		646,738
Operating Expenses:
	Electric Utility:
		Purchased power			81,396		79,607		162,403		162,877
		Fuel expense			28,018		28,291		77,483		77,364
		Power cost adjustment			(9,670)		19,620		(1,673)		30,438
		Other operations & maintenance			64,292		63,243		185,108		180,515
		Depreciation			25,726		25,229		75,838		75,459
		Taxes other than income taxes			5,115		4,593		15,644		15,56
		Impairment of assets			-		-		-		9,756
			Total electric utility expenses		194,877		220,583		514,803		551,945
	Other				11,053		7,161		34,038		24,259
			Total Operating Expenses		205,930		227,744		548,841		576,204
Operating Income (Loss):
	Electric utility				49,355		20,605		120,004		79,756
	Other				(6,143)		(1,672)		(18,050)		(9,222)
		Total Operating Income			43,212		18,933		101,954		70,534
Other Income					3,763		3,297		11,390		21,007
Earnings (Losses) of Unconsolidated
	Equity-method Investments				872		2,225		584		2,919
Other Expenses					1,759		1,495		4,055		7,231
Interest Expense and Preferred Dividends:
	Interest on long-term debt				14,317		14,061		42,683		40,628
	Other interest				609		602		1,879		2,641
	Preferred dividends of Idaho Power Co				-		3,116		-		4,823
		Total Interest Exp and Pref Div			14,926		17,779		44,562		48,092
Income Before Income Taxes					31,162		5,181		65,311		39,137
Income Tax Expense (Benefit)					7,545		(20,886)		9,176		(19,580)
Net Income				$	23,617	$	26,067	$	56,135	$	58,717
Weighted Average Common Shares
	Outstanding (000's)				42,287		38,191		42,245		38,193
Earnings per Share of Common Stock
	(basic and diluted)			$	0.56	$	0.68	$	1.33	$	1.54
Dividends Paid per Share of Common Stock				$	0.30	$	0.30	$	0.90	$	0.90

IDACORP, Inc.
Condensed Consolidated Statements of Cash Flows
For Six Months Ended September 30, 2005 and 2004
Summary Financial Information
(unaudited)
(Thousands of Dollars)

				Nine Months Ended
				9/30/2005		9/30/2004
Operating Activities
	Net Income			$	56,135	$	58,717
	Adjustments to reconcile net income to net cash provided by
		operating activities:
		Impairment of long-lived assets			-		9,756
		Depreciation and amortization			93,069		93,298
		Deferred taxes and investment tax credits			(8,030)		(25,924)
		Changes in regulatory assets and liabilities			2,974		26,645
		Gain on sale of non-utility assets			(1,490)		(4,557)
		Gain on extinguishment of debt			-		(7,188)
		Undistributed earnings of equity method investments			(12,027)		1,348
	Change in:
			Receivables and prepayments		(9,042)		(1,351)
			Accounts payable and other accrued liabilities		(31,518)		(6,800)
			Taxes accrued		19,775		2,148
			Other		11,337		9,320
		Net cash provided by operating activities			121,183		155,412
Investing Activities					(100,525)		(140,978)
Financing Activities
	Issuance of long-term debt				64,992		105,000
	Retirement of long-term debt				(76,166)		(73,419)
	Retirement of IPC preferred stock				-		(52,220)
	Dividends on common stock				(38,001)		(34,224)
	Increase (decrease) in short-term borrowings				19,330		(12,385)
	Other				(903)		(1,396)
		Net cash used in financing activities			(30,748)		(68,644)
Net decrease in cash and cash equivalents					(10,090)		(54,210)
Cash and cash equivalents - beginning of period					23,403		75,159
Cash and cash equivalents - end of period				$	13,313	$	20,949

IDACORP, Inc.
Condensed Consolidated Balance Sheets
As of September 30, 2005 and December 31, 2004
Summary Financial Information
(unaudited)
(Thousands of Dollars)

			9/30/05		12/31/04
Assets
	Cash and cash equivalents		$	13,313	$	23,403
	Receivables, net of allowance			77,956		57,956
	Employee notes			3,090		3,523
	Energy marketing assets			30,822		9,203
	Other current assets			124,245		127,331
		Total current assets		249,426		221,416
	Investments			189,393		223,061
	Property, plant and equipment-net			2,283,002		2,209,462
	Energy marketing assets - long-term			28,427		16,635
	Regulatory assets			416,209		433,271
	Employee notes - long-term			3,130		3,746
	Other assets			131,270		126,581
		Total other assets		579,036		580,233
		Total Assets	$	3,300,857	$	3,234,172
Liabilities And Shareholders' Equity
	Current maturities of long-term debt		$	17,851	$	78,603
	Notes payable			55,600		36,270
	Accounts payable			53,197		79,156
	Energy marketing liabilities			31,110		9,420
	Other current liabilities			126,504		82,009
		Total current liabilities		284,262		285,458
	Deferred income taxes			540,533		555,774
	Energy marketing liabilities - long-term			28,427		16,635
	Regulatory liabilities			275,959		275,854
	Other liabilities			126,670		112,616
		Total other liabilities		971,589		960,879
	Long-term debt			1,028,882		979,549
	Shareholders' equity			1,016,124		1,008,286
		Total Liabilities & Shareholders' Equity	$	3,300,857	$	3,234,172

Idaho Power Company Supplemental Operating Statistics

			Three Months Ended				Year-To-Date
			9/30/05		9/30/04		9/30/05		9/30/04
Energy Use - MWh
	Residential			1,141,236		1,066,321		3,424,215		3,324,805
	Commercial			964,801		931,938		2,718,994		2,654,947
	Industrial			879,766		860,066		2,547,816		2,475,548
	Irrigation			1,012,470		917,194		1,385,517		1,681,954
	Total General Business			3,998,273		3,775,519		10,076,542		10,137,254
	Off-System Sales			586,776		790,570		2,269,049		2,439,326
		Total		4,585,049		4,566,089		12,345,591		12,576,580
Revenue ($000's)
	Residential		$	76,131	$	67,869	$	215,506	$	199,878
	Commercial			48,115		45,293		129,547		124,128
	Industrial			31,780		29,212		86,893		84,275
	Irrigation			51,211		44,313		72,243		82,868
	Total General Business			207,237		186,687		504,189		491,149
	Off-System Sales			34,105		34,969		105,189		99,899
		Total	$	241,342	$	221,656	$	609,378	$	591,048
Customers - Period End
	Residential			376,784		362,929
	Commercial			57,501		55,967
	Industrial			131		126
	Irrigation			18,015		17,354
		Total		452,431		436,376