File No. __________

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D. C.  20549

FORM U-3A-2

STATEMENT BY HOLDING COMPANY CLAIMING EXEMPTION UNDER RULE U-3A-2 FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935

To Be Filed Annually Prior to March 1

IDACORP, Inc.
(Name of Company)

HEREBY FILES WITH THE SECURITIES AND EXCHANGE COMMISSION, PURSUANT TO RULE 2, ITS STATEMENT CLAIMING EXEMPTION AS A HOLDING COMPANY FROM THE PROVISIONS OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935, AND SUBMITS THE FOLLOWING INFORMATION:

1.     NAME, STATE OF ORGANIZATION, LOCATION AND NATURE OF BUSINESS OF CLAIMANT AND EVERY SUBSIDIARY THEREOF, OTHER THAN ANY EXEMPT WHOLESALE GENERATOR (EWG) OR FOREIGN UTILITY COMPANY IN WHICH CLAIMANT DIRECTLY OR INDIRECTLY HOLDS AN INTEREST, AS OF DECEMBER 31, 2004.

Name/	Location and
(State of Organization)	Nature of Business
IDACORP, Inc.	Principal Executive Office
(Idaho)	located at 1221 W Idaho Street
	Boise, Idaho  83702-5627
	Holding Company
Subsidiaries of IDACORP, Inc.
Idaho Power Company	Boise, Idaho
(Idaho)	Electric Utility
Ida-West Energy Company	Boise, Idaho
(Idaho)	Electrical Generation
IDACORP Services Co.	Boise, Idaho
(Nevada)	Marketing Company
IDACORP Energy Services Co.	Boise, Idaho
(Nevada)	Marketing Company
IDACORP Technologies Inc.	Boise, Idaho
(Idaho)	Research and Development
IDACORP Financial Services, Inc.	Boise, Idaho
(Idaho)	Non-Utility Investments
IDACOMM, Inc.	Boise, Idaho
(Idaho)	Broadband Service Provider
Subsidiaries of Idaho Power Company
Idaho Energy Resources Co.	Boise, Idaho
(Wyoming)	Coal Mining
Subsidiaries of Ida-West Energy Company
Y-8 Power Company	Boise, Idaho
(Idaho)	Electrical Generation
Falls River Hydro Company	Boise, Idaho
(Idaho)	Electrical Generation
Hazelton Power Company	Boise, Idaho
(Idaho)	Electrical Generation
Wilson Power Company	Boise, Idaho
(Idaho)	Electrical Generation
I-W Land Company	Boise, Idaho
(Idaho)	Land Development for Electrical Generation
Ida-West Operating Services, Inc.	Boise, Idaho
(Idaho)	Electrical Generation
South Forks Hydro Company	Boise, Idaho
(Idaho)	Electrical Generation
Ida-West Acquisition Company	Boise, Idaho
(Idaho)	Electrical Generation
Garnet Power Company	Boise, Idaho
(Idaho)	Electrical Generation
Hermiston Power Company	Boise, Idaho
(Oregon)	Electrical Generation
Subsidiaries of IDACORP Energy Services, Co.
IDACORP Energy LP	Boise Idaho
(Delaware)	Energy Marketing
Equigy Development, LP	Denver, Colorado
(Delaware)	Natural Gas Marketing
Subsidiaries of IDACORP Technologies, Inc.
IdaTech, LLC	Bend, Oregon
(Oregon)   IdaTech Fuel Cells GmBh (Germany)	Fuel Cell Research and Development   Germany Fuel Cell Research and Development (no activity in 2004)
Subsidiaries of IDACOMM, Inc.
IDACOMM Services	Boise, Idaho
(Idaho)	Broadband Services
RMC Holdings, Inc.	Boise, Idaho
(Idaho)	Internet Service Provider
Velocitus, Inc.	Boise, Idaho
(Idaho)	Internet Service Provider

 

 

2.     A BRIEF DESCRIPTION OF THE PROPERTIES OF CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES USED FOR THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE, OR FOR THE PRODUCTION, TRANSMISSION, AND DISTRIBUTION OF NATURAL OR MANUFACTURED GAS, INDICATING THE LOCATION OF PRINCIPAL GENERATING PLANTS, TRANSMISSION LINES, PRODUCING FIELDS, GAS MANUFACTURING PLANTS, AND ELECTRIC AND GAS DISTRIBUTION FACILITIES, INCLUDING ALL SUCH PROPERTIES WHICH ARE OUTSIDE THE STATE IN WHICH CLAIMANT AND ITS SUBSIDIARIES ARE ORGANIZED AND ALL TRANSMISSION OR PIPELINES WHICH DELIVER OR RECEIVE ELECTRIC ENERGY OR GAS AT THE BORDERS OF SUCH STATE.

IDACORP, Inc. (Company) owns no property used in the generation, transmission, or distribution of electricity or for the production, transmission and distribution of natural or manufactured gas.  IDACORP, Inc. has no public utility subsidiaries that own properties used in the production, transmission and distribution of natural or manufactured gas.

Idaho Power Company (IPC) is an electric public utility engaged in the generation, purchase, transmission, distribution and sale of electric energy in an approximately 24,000-square-mile area in southern Idaho and eastern Oregon, with an estimated population of 895,000.  IPC is the only public utility subsidiary of IDACORP, Inc. that owns properties used in the generation, transmission or distribution of electric energy.  IPC holds franchises in approximately 71 cities in Idaho and nine cities in Oregon, and holds certificates from the respective public utility regulatory authorities to serve all or a portion of 24 counties in Idaho and three counties in Oregon.  As of December 31, 2004, IPC supplied electric energy to approximately 440,000 general business customers and had 1,757 full-time employees.

IPC's system includes 15 hydroelectric generating plants located in southern Idaho and two located in eastern Oregon (see Company's Annual Report on Form 10-K file number 1-3198 for more information).  IPC also owns one gas-fired plant located in Idaho and shares ownership in three coal-fired generating plants located in Wyoming, Oregon and Nevada.  Another gas-fired plant is under construction in Idaho and is due on-line later in 2005.

IPC owns approximately 4,671 miles of high voltage transmission lines, 23 step-up transmission substations located at power plants, 19 transmission substations, 7 transmission switching stations and 212 energized distribution substations.  These facilities are located in Idaho, Oregon, Wyoming, Nevada and Montana.

IPC's generating facilities are interconnected through its integrated transmission system and are operated on a coordinated basis to achieve maximum load-carrying capability and reliability.  IPC's transmission system is directly interconnected with the transmission systems of the Bonneville Power Administration, Avista Corporation, PacifiCorp, NorthWestern Energy and Sierra Pacific Power Company.  Such interconnections, coupled with transmission line capacity made available under agreements with some of the above entities, permit the interchange, purchase and sale of power among all major electric systems in the west.

 

3.     THE FOLLOWING INFORMATION FOR THE LAST CALENDAR YEAR (2004) WITH RESPECT TO CLAIMANT AND EACH OF ITS SUBSIDIARY PUBLIC UTILITY COMPANIES:

(A)  NUMBER OF KWH OF ELECTRIC ENERGY SOLD (AT RETAIL OR WHOLESALE), AND MCF. OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL.

(B)  NUMBER OF KWH OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS DISTRIBUTED AT RETAIL OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED.

(C)  NUMBER OF KWH OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS SOLD AT WHOLESALE OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED, OR AT THE STATE LINE.

(D)  NUMBER OF KWH OF ELECTRIC ENERGY AND MCF. OF NATURAL OR MANUFACTURED GAS PURCHASED OUTSIDE THE STATE IN WHICH EACH SUCH COMPANY IS ORGANIZED OR AT THE STATE LINE.

Claimant:None

 

 

 

 

 

 

Idaho Power Company:

		MWh (in thousands)				Dollars (in thousands)
		Retail		Wholesale		Retail			Wholesale
(a) Number of MWh of electric energy sold:
	Idaho	12,574		587		$	607,509		$	22,612
	Oregon	665		223			28,327			7,942
	Nevada	-		609			-			26,099
	Wyoming	-		26			-			1,025
	Montana	-		50			-			5,476
	New Mexico	-		61			-			2,895
	Utah	-		15			-			820
	Washington	-		1,306			-			53,846
	Arizona	-		4			-			178
	California	-		5			-			253
(b) Number of MWh of electric energy
	distributed at retail outside the state:	665		(see (a) above)
(c) Number of MWh of electric energy sold at
	wholesale outside the state or at the state line:	2,299		(see (a) above)
(d) Number of MWh of electric energy purchased
	outside the state or at the state line:	MWh (in thousands)				Dollars (in thousands)
		Retail		Wholesale		Retail			Wholesale
	Idaho	-		1,122		$	-		$	57,905
	Oregon	-		445			-			20,201
	Nevada (a)	-		(97)			-			(2,430)
	Wyoming	-		120			-			5,408
	Montana	-		263			-			10,763
	New Mexico	-		31			-			1,191
	Utah (b)	-		39			-			963
	Washington	-		2,345			-			101,280
	Arizona	-		8			-			366
	California (c)	-		-			-			(5)
(a)  Amount reported is a net exchange.  Gross receipts were 4,000 MWh for $199,000 and gross deliveries were 101,000 MWh for
	$2,629,000.
(b)Amount reported is a net exchange.  Gross receipts were 41,000 MWh for $1,007,000 and gross deliveries were 2,000 MWh for
	$44,000.
(c)Amount reported is a net exchange.  Gross receipts were 84 MWh for $3,000 and gross deliveries were 370 MWh for $8,000.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

4.   THE FOLLOWING INFORMATION FOR THE REPORTING PERIOD WITH RESPECT TO CLAIMANT AND EACH INTEREST IT HOLDS DIRECTLY OR INDIRECTLY IN AN EWG OR A FOREIGN UTILITY COMPANY, STATING MONETARY AMOUNTS IN UNITED STATES DOLLARS:

(A)  NAME, LOCATION, BUSINESS ADDRESS AND DESCRIPTION OF THE FACILITIES USED BY THE EWG OR FOREIGN UTILITY COMPANY FOR THE GENERATION, TRANSMISSION AND DISTRIBUTION OF ELECTRIC ENERGY FOR SALE OR FOR THE DISTRIBUTION AT RETAIL OF NATURAL OR MANUFACTURED GAS.

(B)  NAME OF EACH SYSTEM COMPANY THAT HOLDS AN INTEREST IN SUCH EWG OR FOREIGN UTILITY COMPANY, AND DESCRIPTION OF THE INTEREST HELD.

(C)  TYPE AND AMOUNT OF CAPITAL INVESTED, DIRECTLY OR INDIRECTLY, BY THE HOLDING COMPANY CLAIMING EXEMPTION; ANY DIRECT OR INDIRECT GUARANTEE OF THE SECURITY OF THE EWG OR FOREIGN UTILITY COMPANY BY THE HOLDING COMPANY CLAIMING EXEMPTION; AND ANY DEBT OR OTHER FINANCIAL OBLIGATION FOR WHICH THERE IS RECOURSE, DIRECTLY OR INDIRECTLY, TO THE HOLDING COMPANY CLAIMING EXEMPTION OR ANOTHER SYSTEM COMPANY, OTHER THAN THE EWG OR FOREIGN UTILITY COMPANY.

(D)  CAPITALIZATION AND EARNINGS OF THE EWG OR FOREIGN UTILITY COMPANY DURING THE REPORTING PERIOD.

(E)  IDENTIFY ANY SERVICE, SALES OR CONSTRUCTION CONTRACT(S) BETWEEN THE EWG OR FOREIGN UTILITY COMPANY AND A SYSTEM COMPANY, AND DESCRIBE THE SERVICES TO BE RENDERED OR GOODS SOLD AND FEES OR REVENUES UNDER SUCH AGREEMENT(S).

 

 

 

None

 

 

 

 

 

EXHIBIT A

FINANCIAL STATEMENTS

Description of Exhibit

Consolidating statements of income and retained earnings for the calendar year 2004 together with the consolidating balance sheets as of December 31, 2004 for IDACORP, Inc., Idaho Power Company, Ida-West Energy Company, IDACORP Services Co., IDACORP Energy Services Co., IDACORP Technologies, Inc., IDACORP Financial Services, Inc., IDACOMM, Inc., and their respective subsidiaries.

 

 

 

 

 

EXHIBIT B

ORGANIZATIONAL CHART SHOWING RELATIONSHIP OF EACH EWG OR FOREIGN UTILITY COMPANY TO ASSOCIATE COMPANIES IN THE HOLDING COMPANY SYSTEM.

None.

 

 

 

 

 

 

 

 

 

SIGNATURES

The above-named claimant has caused this statement to be duly executed on its behalf by its authorized officers on the 28th day of February 2005.

IDACORP, Inc.



By:  /s/ Jan B. Packwood
Jan B. Packwood
President and Chief
Executive Officer and Director

(Corporate Seal)

 

By:   /s/ Darrel T. Anderson
Darrel T. Anderson
Senior Vice President - Administration and
Chief Financial Officer

 

 

Attest:

 

By  /s/ Thomas R. Saldin
Thomas R. Saldin
Senior Vice President, General
Counsel and Secretary

 

 

Name, title and address of officer to whom notices and correspondence concerning this statement should be addressed:

Darrel T. Anderson
Senior Vice President - Administration and
Chief Financial Officer
P.O. Box 70
Boise, Idaho  83707
(208) 388-2650

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

EXHIBIT INDEX

Description of Exhibits

 

 

Consolidating statements of income and retained earnings for the calendar year 2004 together with the consolidating balance sheets as of December 31, 2004 for IDACORP, Inc., Idaho Power Company, Ida-West Energy Company, IDACORP Services Co., IDACORP Energy Services Co., IDACORP Technologies, Inc., IDACORP Financial Services, Inc., IDACOMM, Inc., and their respective subsidiaries.

 

IDACORP, Inc. and Subsidiaries Organization Chart as of December 31, 2004.

 

 

 

THE COMPANY IS REQUESTING CONFIDENTIALITY FOR THE FINANCIAL STATEMENTS ENDED DECEMBER 31, 2004 OF THIS U-3A-2 FILING.  THIS REQUEST IS BEING MADE PURSUANT TO SECTION 22b OF THE PUBLIC UTILITY HOLDING COMPANY ACT OF 1935 AND RULE 104 THEREUNDER.