Idaho Power 10-K 2002 FY Annual report

Exhibit 12b

IDACORP, INC.
Consolidated Financial Information
Ratio of Earnings to Combined Fixed Charges and Preferred Dividends Requirements

			Twelve Months Ended
			December 31,
			(Thousands of Dollars)
			1998		1999		2000		2001		2002
Earnings, as defined:
	Income before income taxes		$	133,806	$	137,021	$	210,701	$	189,860	$	10,525
	Adjust for distributed income of equity
		investees		(4,697)		(837)		(3,116)		(1,620)		(2,544)
	Equity in loss of equity method
		investments		458		435		186		296		-
	Minority interest in losses of majority
		owned subsidiaries		(125)		(37)		(1,468)		(612)		(211)
	Fixed charges, as below			69,923		72,243		73,261		85,034		62,658
		Total earnings, as defined	$	199,365	$	208,825	$	279,564	$	272,958	$	70,428
Fixed charges, as defined:
	Interest charges		$	60,677	$	62,975	$	63,339	$	75,305	$	60,031
	Preferred stock dividends of
		subsidiaries - gross up -
		IDACORP rate		8,445		8,313		8,886		8,142		857
	Rental interest factor			801		955		1,036		1,587		1,770
		Total fixed charges	$	69,923	$	72,243	$	73,261	$	85,034	$	62,658
	Preferred dividends requirements			-		-		-		-		-
		Total combined fixed charges	$	69,923	$	72,243	$	73,261	$	85,034	$	62,658
Ratio of earnings to combined fixed
	charges and preferred dividends			2.85x		2.89x		3.82x		3.21x		1.12x