EXHIBIT 4.6


                              CERTIFICATE OF TRUST
                                       OF
                                IDACORP TRUST II

                  THIS CERTIFICATE OF TRUST of IDACORP Trust II (the "Trust"),
dated as of September 24, 1998, is being duly executed and filed by the
undersigned, as trustees, to form a business trust under the Delaware Business
Trust Act (12 Del. C. ss. 3801, et seq.).

                  (i) Name. The name of the business trust formed hereby is
IDACORP Trust II.

                  (ii) Delaware Trustee. The name and business address of the
trustee of the Trust with a principal place of business in the State of Delaware
are:

                  Bankers Trust (Delaware)
                  E.A. Delle Donne Corporate Center
                  Montgomery Building
                  1101 Centre Road, Suite 200
                  Wilmington, DE 19805-1266

                  (iii) Counterparts. This Certificate of Trust may be executed
in one or more counterparts, all of which together shall constitute one and the
same instrument.

                  (iv) Effective Date. This Certificate of Trust shall be
effective as of its filing.

                  IN WITNESS WHEREOF, the undersigned, being the trustees of the
Trust, have executed this Certificate of Trust as of the date first above
written.

                              Bankers Trust Company, not in its individual
                              capacity but solely as Trustee


                              By: /s/ James C. McDonough
                                  -----------------------------------
                                  Name:   James C. McDonough
                                  Title:  Vice President

                              Bankers Trust (Delaware), not in its individual
                              capacity but solely as Trustee

                              By: /s/  M. Lisa Wilkins
                                  -----------------------------------
                                  Name:   M. Lisa Wilkins
                                  Title:  Assistant Secretary

                                  /s/  J. LaMont Keen
                                  -----------------------------------
                              J. LaMont Keen, not in his individual capacity
                              but solely as Trustee