Exhibit 12

Idaho Power Company
Consolidated Financial Information
Ratio of Earnings to Fixed Charges

			Twelve Months Ended										Twelve Months
			December 31,										Ended
			(Thousands of Dollars)										June 30,
			1997		1998		1999		2000		2001		2002
Earnings, as defined:
	Income from continuing operations
		before income taxes	$	135,908	$	133,021	$	119,872	$	128,139	$	48,250	$	70,262
	Adjust for distributed income of equity
		investees		(3,943)		(4,697)		(837)		(3,116)		(1,620)		(2,073)
	Equity in loss of equity method
		investments		-		476		-		-		-		-
	Minority interest in losses of majority
		owned subsidiaries		-		(125)		-		-		-		-
	Fixed charges, as below			61,743		61,394		62,969		58,833		64,964		64,665
		Total earnings, as defined	$	193,708	$	190,069	$	182,004	$	183,856	$	111,594	$	132,854
Fixed charges, as defined:
	Interest charges		$	60,761	$	60,593	$	62,014	$	57,797	$	64,002	$	63,640
	Rental interest factor			982		801		955		1,036		962		1,025
		Total fixed charges, as defined	$	61,743	$	61,394	$	62,969	$	58,833	$	64,964	$	64,665
Ratio of earnings to fixed charges				3.14x		3.10x		2.89x		3.13x		1.72x		2.05x