Idaho Power 10-Q 2007 Q2 Quarterly report

Exhibit 12

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

					Twelve Months Ended
				Six	December 31,
				Months Ended	(Thousands of Dollars)
				June 30,
				2007	2006		2005		2004		2003		2002
Earnings, as defined:
	Income from continuing operations
		before income taxes	$	51,382	$	115,452	$	103,326	$	60,830	$	31,063	$	22,036
	Adjust for distributed income of equity
		investees		2,877		(9,347)		(10,370)		1,990		(2,136)		(2,544)
	Equity in loss of equity method
		investments		-		-		-		-		-		-
	Minority interest in losses of majority
		owned subsidiaries		-		-		-		(48)		(435)		(211)
	Fixed charges, as below			34,468		65,745		64,379		66,137		68,134		62,658
		Total earnings, as defined	$	88,727	$	171,850	$	157,336	$	128,909	$	96,626	$	81,939
Fixed charges, as defined:
	Interest charges		$	34,016	$	64,720	$	62,962	$	61,269	$	64,813	$	60,031
	Preferred stock dividends of
		subsidiaries - gross up -
		IDACORP rate		-		-		-		3,216		1,915		857
	Rental interest factor			452		1,025		1,417		1,652		1,406		1,770
		Total fixed charges, as defined	$	34,468	$	65,745	$	64,379	$	66,137	$	68,134	$	62,658
Ratio of earnings to fixed charges				2.57x		2.61x		2.44x		1.95x		1.42x		1.31x