Idaho Power 10-Q 2003 Q3 Quarterly report

Exhibit 12a

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

													Twelve
			Twelve Months Ended										Months
			December 31,										Ended
			(Thousands of Dollars)										September 30,
			1998		1999		2000		2001		2002		2003
Earnings, as defined:
	Income before income taxes		$	133,806	$	137,021	$	210,701	$	189,860	$	10,525	$	14,700
	Adjust for distributed income of equity
		investees		(4,697)		(837)		(3,116)		(1,620)		(2,544)		(17,463)
	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)		(420)
	Supplemental fixed charges, as below			72,496		74,800		75,800		86,818		64,257		70,391
		Total earnings, as defined	$	201,938	$	211,382	$	282,103	$	274,742	$	72,027	$	67,208
Fixed charges, as defined:
	Interest charges		$	60,677	$	62,975	$	63,339	$	75,305	$	60,031	$	65,817
	Preferred stock dividends of
		subsidiaries - gross up -
		IDACORP rate		8,445		8,313		8,886		8,142		857		1,381
	Rental interest factor			801		955		1,036		1,587		1,770		1,624
		Total fixed charges	$	69,923	$	72,243	$	73,261	$	85,034	$	62,658	$	68,822
	Supplemental increment to fixed
		charges (A)		2,573		2,557		2,539		1,784		1,599		1,569
		Total supplemental fixed charges	$	72,496	$	74,800	$	75,800	$	86,818	$	64,257	$	70,391
Supplemental ratio of earnings to fixed
	Charges (B)			2.79x		2.83x		3.72x		3.16x		1.12x		0.95x

(A) Explanation of increment - Interest on the guaranty of American Falls Reservoir District bonds and Milner Dam, Inc. notes which are already included in operation expenses.
(B)  The supplemental ratio of earnings to fixed charges for the twelve months ended September 30, 2003 was 0.95, as noted above, which represents a deficiency of $3 million.