Exhibit 12.2

IDACORP, Inc.

Consolidated Financial Information

Supplemental Ratio of Earnings to Fixed Charges

Nine Months

Twelve Months Ended

Ended

December 31,

September 30,

(Thousands of Dollars)

2009

2008

2007

2006

2005

2004

Earnings, as defined:

Income from continuing operations before income taxes

 $

126,663 

 $

117,614 

 $

96,003 

 $

115,452 

 $

103,327 

 $

60,830 

Adjust for distributed income of equity investees

8,767 

5,176 

6,064 

(9,347)

(10,370)

1,990 

Equity in loss of equity method investments

- 

- 

- 

- 

- 

- 

Minority interest in losses of majority owned

subsidiaries

- 

- 

- 

- 

- 

(48)

Supplemental fixed charges, as below

60,608 

82,962 

74,631 

67,521 

65,991 

67,654 

Total earnings, as defined

 $

196,038 

 $

205,752 

 $

176,698 

 $

173,626 

 $

158,948 

 $

130,426 

Fixed charges, as defined:

Interest charges¹

 $

58,778 

 $

80,282 

 $

71,946 

 $

64,720 

 $

62,962 

 $

61,269 

Preferred stock dividends of  subsidiaries - gross up -

IDACORP rate

- 

- 

- 

- 

- 

3,216 

Rental interest factor

706 

890 

933 

1,025 

1,417 

1,652 

Total fixed charges, as defined

 $

59,484 

 $

81,172 

 $

72,879 

 $

65,745 

 $

64,379 

 $

66,137 

Supplemental increment to fixed charges²

1,124 

1,790 

1,752 

1,776 

1,612 

1,517 

Total supplemental fixed charges

 $

60,608 

 $

82,962 

 $

74,631 

 $

67,521 

 $

65,991 

 $

67,654 

Ratio of earnings to fixed charges

3.23 x

2.48 x

2.37 x

2.57 x

2.41 x

1.93 x

¹Interest on uncertain tax positions is not included in interest charges.

² 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.