<SEC-DOCUMENT>0000897101-20-000900.txt : 20201113
<SEC-HEADER>0000897101-20-000900.hdr.sgml : 20201113
<ACCEPTANCE-DATETIME>20201113075139
ACCESSION NUMBER:		0000897101-20-000900
CONFORMED SUBMISSION TYPE:	S-3ASR
PUBLIC DOCUMENT COUNT:		8
FILED AS OF DATE:		20201113
DATE AS OF CHANGE:		20201113
EFFECTIVENESS DATE:		20201113

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			IDACORP INC
		CENTRAL INDEX KEY:			0001057877
		STANDARD INDUSTRIAL CLASSIFICATION:	ELECTRIC SERVICES [4911]
		IRS NUMBER:				820505802
		STATE OF INCORPORATION:			ID
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		S-3ASR
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-250055
		FILM NUMBER:		201309192

	BUSINESS ADDRESS:	
		STREET 1:		1221 WEST IDAHO STREET
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702-5627
		BUSINESS PHONE:		2083882200

	MAIL ADDRESS:	
		STREET 1:		PO BOX 70
		STREET 2:		1221 WEST IDAHO STREET
		CITY:			BOISE
		STATE:			ID
		ZIP:			83702-5627
</SEC-HEADER>
<DOCUMENT>
<TYPE>S-3ASR
<SEQUENCE>1
<FILENAME>idacorp201607_s3asr.htm
<DESCRIPTION>S-3ASR
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>AS
FILED WITH THE SECURITIES AND EXCHANGE COMMISSION ON NOVEMBER 13, 2020</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: red"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Registration
No. 333- </B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>UNITED
STATES</B></FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt"><B>SECURITIES AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Washington,
D.C.&nbsp; 20549</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>FORM&nbsp;S-3</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>REGISTRATION
STATEMENT UNDER<BR>
THE SECURITIES ACT OF 1933</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font: 10pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>IDACORP,&nbsp;Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(Exact
name of registrant as specified in its charter)&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 27%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Idaho</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 44%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>1221
    West Idaho Street</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 27%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>82-0505802</B></FONT></TD></TR>
<TR STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(State
    or other jurisdiction<BR>
    of incorporation or organization)</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Boise,
    Idaho 83702-5627</B><BR>
    <B>(208) 388-2200</B></FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(I.R.S.
    Employer<BR>
    Identification Number)</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(Address,
    including zip code, and telephone number, including<BR>
    area code, of registrant&rsquo;s principal executive offices)</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Lisa
A. Grow</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">President
and Chief Executive Officer</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">IDACORP,&nbsp;Inc.</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">1221 West Idaho Street</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Boise, Idaho &nbsp;83702-5627</FONT><BR>
<FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(208) 388-2200</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(Names,
addresses, including zip codes, and telephone numbers,<BR>
including area codes, of agents for service)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Copies
to:</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; width: 44%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Andrew
    Bor,&nbsp;Esq.</B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 54%; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Cheryl
    W. Thompson, Esq.</B></FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Andrew
    Moore, Esq.</B><BR>
    Perkins Coie LLP <BR>
    1201 Third Avenue, Suite 4800<BR>
    Seattle, Washington 98101-3099<BR>
    (206) 359-8000</FONT></TD>
    <TD STYLE="vertical-align: bottom; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: center; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Senior
    Counsel and Deputy Corporate Secretary<BR>
    IDACORP,&nbsp;Inc.<BR>
    1221 West Idaho Street<BR>
    Boise, Idaho 83702-5627<BR>
    (208) 388-2200</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">Approximate
date of commencement of proposed sale to the public:&nbsp; <B>From time to time after the effective date of this registration
statement</B>.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">If
the only securities being registered on this Form&nbsp;are being offered pursuant to dividend or interest reinvestment plans,
please check the following box.&nbsp;&nbsp;&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">If
any of the securities being registered on this Form&nbsp;are to be offered on a delayed or continuous basis pursuant to Rule&nbsp;415
under the Securities Act of 1933, other than securities offered only in connection with dividend or interest reinvestment plans,
check the following box.&nbsp;&nbsp;&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">If
this Form&nbsp;is filed to register additional securities for an offering pursuant to Rule&nbsp;462(b)&nbsp;under the Securities
Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration
statement for the same offering.&nbsp;&nbsp;&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">If
this Form&nbsp;is a post-effective amendment filed pursuant to Rule&nbsp;462(c)&nbsp;under the Securities Act, check the following
box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering.&nbsp;&nbsp;&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">If
this Form&nbsp;is a registration statement pursuant to General Instruction I.D. or a post-effective amendment thereto that shall
become effective upon filing with the Commission pursuant to Rule&nbsp;462(e)&nbsp;under the Securities Act, check the following
box.&nbsp;&nbsp;&nbsp;&#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">If
this Form&nbsp;is a post-effective amendment to a registration statement filed pursuant to General Instruction I.D. filed to register
additional securities or additional classes of securities pursuant to Rule&nbsp;413(b)&nbsp;under the Securities Act, check the
following box.&nbsp;&nbsp;&#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company.&nbsp;&nbsp;See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated
filer,&rdquo; &ldquo;smaller reporting company&rdquo; and &ldquo;emerging growth company&rdquo; in Rule&nbsp;12b-2 of the Exchange
Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Large
    accelerated filer &#9746;</FONT></TD>
    <TD STYLE="width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Accelerated
    filer &#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Non-accelerated
    filer &#9744;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Smaller
    reporting company &#9744;</FONT></TD></TR>
<TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-right: 5.4pt; padding-left: 5.4pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Emerging
    growth company &#9744;</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font: 8pt Times New Roman, Times, Serif">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of Securities Act. &#9744;<BR STYLE="clear: both"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>CALCULATION
OF REGISTRATION FEE</B>&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: bottom; width: 31%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Title
    of each class of securities to be registered</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Amount
    to be<BR>
    registered (1)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Proposed
    maximum<BR>
    offering price<BR>
    per unit(2)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 15%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Proposed
    maximum<BR>
    aggregate<BR>
    offering price(2)(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 15%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Amount
    of<BR>
    registration fee(3)</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 1%; border-top: Black 2.25pt double; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
<TR STYLE="font: 10pt Times New Roman, Times, Serif">
    <TD STYLE="vertical-align: top; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Common
    Stock, without par value</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">500,000 shares</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;92.57</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;46,285,000.00</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-right: Black 1pt solid; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,660.12
    </FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&nbsp;</FONT></TD></TR>
</TABLE>
<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(1)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Pursuant
                                         to Rule&nbsp;416(a)&nbsp;under the Securities Act of 1933, this registration statement
                                         also covers any additional securities to be offered or issued in connection with a stock
                                         split, stock dividend or similar transaction.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(2)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">Estimated solely for the purposes of calculating the registration fee pursuant to Rule 457(c) and based on the average of the high and low prices of the Company's common stock as reported on the New York Stock Exchange on November 10, 2020.</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 0; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 0.25in; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">(3)</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">This
                                                                                                                                                                                                                                registration statement is filed in accordance with Rule 415(a)(6) under the Securities Act and registers 236,606 shares of
                                                                                                                                                                                                                                unsold common stock that were registered on Registration Statement No. 333-221614 filed by the registrant on November 16,
                                                                                                                                                                                                                                2017 (the "2017 Registration Statement"). A registration fee of $412.69 was previously paid in connection with such unsold
                                                                                                                                                                                                                                shares of common stock under the 2017 Registration Statement, which fees will continue to be applied to such unsold
                                                                                                                                                                                                                                securities included on this registration statement in accordance with Rule 415(a)(6). The registration fee of $2,660.12 being
                                                                                                                                                                                                                                paid herewith has been calculated based on the $24,382,382.58 proposed maximum aggregate offering price of the 263,394
                                                                                                                                                                                                                                newly registered shares of common stock. Pursuant to Rule 415(a)(6) under the Securities Act, the offering of the unsold
                                                                                                                                                                                                                                securities under the 2017 Registration Statement will be deemed terminated as of the date of effectiveness of this
                                                                                                                                                                                                                                registration statement.</FONT></TD></TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 16.5pt"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 16.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PROSPECTUS</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;<IMG SRC="a201607001_v1.jpg" ALT=""></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20"><B>Dividend
Reinvestment and Stock Purchase <FONT STYLE="letter-spacing: -0.25pt">Plan </FONT></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20; letter-spacing: -0.25pt">
</FONT></B><B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20">500,000 Shares of Common Stock</FONT></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><B><FONT STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20"></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 135.95pt 0pt 186.55pt; text-align: justify; text-indent: -32.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
<FONT STYLE="letter-spacing: -0.25pt">IDACORP, </FONT>Inc. Dividend Reinvestment and Stock Purchase Plan, which we refer to in
this prospectus as the <FONT STYLE="letter-spacing: -0.15pt">&ldquo;plan,&rdquo;</FONT> is a simple and <FONT STYLE="letter-spacing: -0.1pt">convenient
</FONT>method of purchasing <FONT STYLE="letter-spacing: -0.2pt">IDACORP</FONT> common stock (without par value). The plan is
open to our <FONT STYLE="letter-spacing: -0.15pt">existing</FONT> common shareholders, residential customers of Idaho <FONT STYLE="letter-spacing: -0.15pt">Power
</FONT><FONT STYLE="letter-spacing: -0.2pt">Company,</FONT> and <FONT STYLE="letter-spacing: -0.15pt">new investors</FONT> who
may participate by making an initial investment. Participants in the plan may:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<TD STYLE="width: 49.9pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 16.05pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">purchase
                                         additional shares of <FONT STYLE="letter-spacing: -0.15pt">IDACORP </FONT>common stock
                                         through convenient and economical methods;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; margin-right: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 49.9pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 16.05pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">elect
                                         to reinvest dividends on some or all of their common stock;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; margin-right: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 49.9pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 16.05pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">sell
                                         or transfer shares of common stock through the plan; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; margin-right: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top; font: 10pt Times New Roman, Times, Serif">
<TD STYLE="width: 49.9pt; font: 10pt Times New Roman, Times, Serif"></TD><TD STYLE="width: 16.05pt; font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&bull;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">deposit
                                         common stock certificates for safe<FONT STYLE="letter-spacing: -0.1pt">k</FONT>eeping.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif; margin-right: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Shares
of common stock purchased under the plan will be either newly issued shares purchased directly from us or previously issued shares
purchased on the open market, at our election. <FONT STYLE="letter-spacing: -0.45pt">We</FONT> will <FONT STYLE="letter-spacing: -0.15pt">reinvest
</FONT>dividends on common stock held in your plan account. Participation in the plan is voluntary. Shareholders who do not wish
to participate in the plan will continue to receive cash dividends on IDACORP common stock, when, as and if declared. Participants
in the plan may terminate their participation at any time.</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20; letter-spacing: -0.4pt">We </FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20">list
our common stock on the New <FONT STYLE="letter-spacing: -0.3pt">York </FONT>Stock Exchange under the symbol <FONT STYLE="letter-spacing: -0.2pt">&ldquo;IDA.&rdquo; </FONT>The
reported last sale price of our common stock on the New York Stock Exchange on November 10, 2020 was $93.02 per share. Our
principal executive offices are located at 1221 West Idaho Street, Boise, Idaho 83702, and our telephone number is (208)
388-2200. The law in some jurisdictions requires us to offer shares under the plan to persons not presently shareholders only
through a registered broker. In those instances, a broker will make such offers as the registered broker.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 19.95pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investing
in our securities involves risks. Please see &ldquo;Risk Factors&rdquo; on page 1 of this prospectus as well as the risk
factors in our most recent Annual Report on Form 10-K and in the other reports we file with <FONT STYLE="letter-spacing: -0.2pt">the <B>U.S.
Securities and Exchange Commission that we incorporate by reference in this prospectus.</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Please
read this prospectus carefully <FONT STYLE="letter-spacing: -0.15pt">before</FONT> <FONT STYLE="letter-spacing: -0.1pt">investing
</FONT>and retain it <FONT STYLE="letter-spacing: -0.15pt">for</FONT> future reference. <FONT STYLE="letter-spacing: -0.35pt">We
</FONT>cannot assure you of a profit or protect you against a loss on the shares of common stock you purchase under the plan.</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Neither
the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or
determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.95pt 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 11.95pt 0pt 29.95pt; text-align: justify; text-indent: 20pt; color: #231F20"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 67.6pt 0pt 85.55pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20"><B>The
date of this prospectus is November 13,
2020</B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

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<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD STYLE="text-align: right; border-bottom: Black 1px solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Page</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 97%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><A HREF="#a001_v1">About This Prospectus</A></FONT></TD>
    <TD STYLE="width: 3%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a002_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk Factors</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a003_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cautionary Note Regarding Forward-Looking Statements</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a004_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">About IDACORP</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a005_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Plan</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a006_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purpose of the Plan</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a007_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Eligibility</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a008_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Advantages and Disadvantages</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a009_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Administration</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a010_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Account Forms</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a011_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Enrollment</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a012_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend Reinvestment</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a013_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optional Cash Payments</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a014_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changing Your Investment Options</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a015_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investment Period &ndash; Source of Shares &ndash; Purchase Price</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a016_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expenses to Participants</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a017_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Deposit of Certificates</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a018_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Share Transfers and Gifts</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a019_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Selling and Withdrawing Shares</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a020_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Termination of Participation</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a021_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificates for Shares &ndash; Accounts</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a022_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Account Access</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a023_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Account Statements</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a024_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other Information</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.125in"><A HREF="#a025_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">U.S. Federal Income Tax Information</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">22</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a026_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Direct Registration</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a027_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use of Proceeds</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a028_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend Policy</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a029_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporation of Certain Information by Reference</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a030_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Where You Can Find More Information</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a031_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Legal Matters</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="#a032_v1"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Experts</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">26</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a001_v1"></A>ABOUT THIS PROSPECTUS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">This
prospectus is part of a registration statement on Form S-3 that IDACORP, Inc. filed with the Securities and Exchange Commission
using the &ldquo;shelf&rdquo; registration process. We may from time to time provide a prospectus supplement, which may add, update
or change information contained in this prospectus. You should rely only on the information contained or incorporated by reference
in this prospectus and any prospectus supplement, together with the additional information described under &ldquo;Where You Can
Find More Information.&rdquo; We have not authorized any other person to provide you with information that is different. If anyone
provides you with different or inconsistent information, you should not rely on it. If there is any inconsistency between the information
in this prospectus and any prospectus supplement, you should rely on the information contained in that prospectus supplement. We
are offering to sell shares of common stock and seeking offers to buy shares of common stock only in states where offers and sales
are permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">This
prospectus incorporates by reference important business and financial information about IDACORP, Inc. that is not included in or
delivered with this prospectus. See &ldquo;Where You Can Find More Information.&rdquo; You may obtain copies of documents containing
such information from us, without charge, by either calling or writing to us at:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">IDACORP, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">1221 W. Idaho Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">Boise,
Idaho 83702</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">Attention: Shareowner Services<BR>

Telephone: (208) 388-2200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
information contained in or incorporated by reference in this prospectus is accurate only as of the date of the respective documents
in which the information is contained. Our business, financial condition, results of operations and prospects may have changed
since those dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Unless
we indicate otherwise, or the context otherwise requires, references in this prospectus to the &ldquo;Company,&rdquo; &ldquo;we,&rdquo;
&ldquo;us&rdquo; and &ldquo;our&rdquo; or similar terms are to IDACORP, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">No person
has been authorized to give any information or to make any representations, other than those contained in this prospectus, in connection
with the offer described herein, and, if given or made, such information or representations must not be relied upon as having been
authorized by us. This prospectus does not constitute an offering of any securities other than those to which it specifically relates,
nor an offering of any securities in any jurisdiction to any person to whom it is unlawful to make such offer in such jurisdiction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a002_v1"></A>RISK FACTORS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Investing
in our securities involves risks. You should review all the information contained or incorporated by reference in this prospectus
before deciding to invest. See &ldquo;Where You Can Find More Information&rdquo; in this prospectus. In particular, you should
carefully consider the risks and uncertainties discussed in &ldquo;Risk Factors,&rdquo; &ldquo;Cautionary Note Regarding Forward-Looking
Statements,&rdquo; and &ldquo;Management&rsquo;s Discussion and Analysis of Financial Condition and Results of Operations,&rdquo;
as well as the other disclosures, in</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which is incorporated by reference into this prospectus;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>our Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020, which are
incorporated by reference into this prospectus; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>other reports and documents we file with the Securities and Exchange Commission after the date of this prospectus and which
are deemed incorporated by reference into this prospectus.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If any
of these risks actually occur, our business, financial condition and results of operations could be materially and adversely affected,
and thus you should carefully consider them before deciding to invest in our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.45pt; color: #231F20"><B><U>Risks
Related to Our Common Stock and This Offering</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.45pt; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">Future sales of our common stock
in the public market could lower our stock price.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We may
sell additional shares of common stock through director or employee stock option or benefit plans or stock purchase or ownership
plans as well as through public offerings. We cannot predict the size of future issuances of our common stock, or the effect, if
any, that future issuances and sales of shares of our common stock will have on the market price of our common stock. Sales of
substantial amounts of our common stock, or the perception that such sales could occur, may adversely affect the prevailing market
price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
market price of our common stock may fall or rise during the period between a request for sale, its receipt by the Plan Administrator
and the ultimate sale in the open market.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Selling
participants should be aware that the price of our common stock may fall or rise during the period between a request for sale,
its receipt by the Plan Administrator and the ultimate sale in the open market. You alone bear the risk that the price may fall
or rise during these periods. Therefore, you should evaluate these possibilities when deciding whether and when to sell any shares
through the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
market price of our common stock is uncertain and may fluctuate significantly, and you could lose all or part of your investment.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Volatility
in the market price of our common stock may prevent you from being able to sell your shares at or above the price you paid for
them. We cannot predict whether the market price of our common stock will rise or fall. Numerous factors influence the trading
price of our common stock. These factors may include changes in our financial condition, results of operations and prospects, legal
and administrative proceedings and political, economic, financial and other global and national factors that can affect the capital
markets generally, the stock exchanges on which our common stock is traded and our business segments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.55pt; color: #231F20"><B><U>Risks
Related to Our Corporate Structure and Regulatory Matters</U></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1.55pt; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">Our charter and bylaws and Idaho
law could delay or prevent a change in control that you may favor.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
terms of some of the provisions in our articles of incorporation and bylaws and provisions of the Idaho law could delay or prevent
a change in control that you may favor or may impede the ability of the holders of our common stock to change our management. In
particular, the provisions of our articles of incorporation and bylaws:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>authorize our board of directors to issue up to 20,000,000 shares of preferred stock in one or more series without further
action by shareholders;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>limit the shareholders&rsquo; right to remove directors, fill vacancies and increase or reduce the number of directors;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>regulate how shareholders may present proposals or nominate directors for election at shareholders&rsquo; meetings; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>require a supermajority vote of shareholders to amend certain provisions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">We are subject to the provisions
of the Idaho Control Share Acquisition Act and the Idaho Business Combination Act. The Idaho Control Share Acquisition Act is designed
to protect minority shareholders if someone acquires 20% or more of our voting stock. An acquiring person must disclose to us its
identity, acquisition plans and financing. The acquiring person cannot vote a number of shares exceeding the applicable percentages,
unless two-thirds of the outstanding voting stock, excluding shares owned by the acquiring person, approves of such voting power.
The</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">Idaho Business Combination Act prohibits us from engaging in certain business combinations with a person who owns 10% or more
of our outstanding voting stock for three years after that person acquired the shares, unless our board of directors approved of
the business combination or the acquisition in advance. The Idaho Business Combination Act provides that notice and informational
requirements and special shareholder meeting and voting procedures must be followed prior to consummation of a proposed &ldquo;business
combination,&rdquo; as defined in the Idaho Business Combination Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Statutory
and regulatory factors will limit another party&rsquo;s ability to acquire us and could deprive you of the opportunity to gain
a takeover premium for your shares of common stock.</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Even
if our board of directors favors a sale of the company, a sale would require approval of a number of federal and state regulatory
agencies, including the Federal Energy Regulatory Commission, the Idaho Public Utilities Commission, the Oregon Public Utility
Commission and the Wyoming Public Service Commission. The approval process could be lengthy and the outcome uncertain, which may
deter otherwise interested parties from proposing or attempting a business combination. These regulatory constraints may result
in a limited number of potential buyers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a003_v1"></A>CAUTIONARY NOTE REGARDING
FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">This
prospectus, any prospectus supplement and the additional information described under the heading &ldquo;Where You Can Find More
Information&rdquo; may contain &ldquo;forward-looking statements&rdquo; within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which are subject to the safe harbor created
by the Private Securities Litigation Reform Act of 1995. Any statements that express, or involve discussions as to, expectations,
beliefs, plans, objectives, assumptions, future events or performance, often, but not always, through the use of words or phrases
such as &ldquo;anticipates,&rdquo; &ldquo;believes,&rdquo; &ldquo;continues,&rdquo; &ldquo;could,&rdquo; &ldquo;estimates,&rdquo;
&ldquo;expects,&rdquo; &ldquo;guidance,&rdquo; &ldquo;intends,&rdquo; &ldquo;potential,&rdquo; &ldquo;plans,&rdquo; &ldquo;predicts,&rdquo;
&ldquo;projects,&rdquo; &ldquo;may result,&rdquo; &ldquo;may continue,&rdquo; or similar expressions, are not statements of historical
facts and may be forward-looking. Forward-looking statements are not guarantees of future performance and involve estimates, assumptions,
risks, and uncertainties. Actual results, performance, or outcomes may differ materially from the results discussed in the statements.
In addition to any assumptions and other factors and matters referred to specifically in connection with such forward- looking
statements, factors that could cause actual results or outcomes to differ materially from those contained in forward-looking statements
include those factors discussed in our filings with the SEC, including the Form 10-K, the Forms 10-Q and the Forms 8-K incorporated
by reference in this prospectus, and we refer you to those reports for further information, as well as the following factors:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the effect of decisions by the Idaho and Oregon public utilities commissions and the Federal Energy
Regulatory Commission that impact Idaho Power Company&rsquo;s (IDACORP&rsquo;s primary subsidiary) ability to recover costs and
earn a return on investment;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">changes to or the elimination of Idaho Power Company&rsquo;s regulatory cost recovery mechanisms;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #231F20">the impacts of the COVID</FONT>-19 pandemic on the global and regional
economy and on Idaho Power Company&rsquo;s employees, customers, contractors, and suppliers, including on loads and revenues, uncollectible
accounts, transmission revenues, and other aspects of the economy and the companies&rsquo; business;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">changes in residential, commercial, and industrial growth and demographic patterns within Idaho
Power Company&rsquo;s service area, the loss or change in the business of significant customers, or the addition of new customers,
and their associated impacts on loads and load growth, and the availability of regulatory mechanisms that allow for timely cost
recovery through customer rates in the event of those changes;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">abnormal or severe weather conditions, including conditions and events associated with climate
change, wildfires, droughts, earthquakes, and other natural phenomena and natural disasters, which affect customer sales, hydropower
generation levels, repair costs, service interruptions, liability for damage </TD></TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20">
                                                                                   <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="text-align: justify">caused by utility property, and the availability and
cost of fuel for generation plants or purchased power to serve customers;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">advancement of self-generation, energy storage, energy efficiency, alternative energy sources,
and other technologies that may affect Idaho Power Company&rsquo;s sale or delivery of electric power or introduce operational
or cyber-security vulnerability to the power grid;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify">acts or threats of terrorist incidents, other malicious acts, social unrest, acts of war, cyber-attacks,
the companies&rsquo; failure to secure data or to comply with privacy laws or regulations, security breaches, or the disruption
or damage to the companies&rsquo; business, operations, or reputation resulting from such events and related litigation or penalties;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify">the expense and risks associated with capital expenditures for, and the permitting and construction
of, utility infrastructure that Idaho Power Company may be unable or unwilling to complete or may not be deemed prudent by regulators;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">variable hydrological conditions and over-appropriation of surface and groundwater in the Snake
River basin, which may impact the amount of power generated by Idaho Power Company&rsquo;s hydropower facilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the ability of Idaho Power Company to acquire fuel, power, and transmission capacity under reasonable
terms, particularly in the event of unanticipated power demands, lack of physical availability, transportation constraints, climate
change, or a credit downgrade;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">disruptions or outages of Idaho Power Company&rsquo;s generation or transmission systems or of
any interconnected transmission systems may constrain resources or cause Idaho Power Company to incur repair costs and purchase
replacement power or lease transmission at increased costs;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">accidents, fires (either affecting or caused by Idaho Power Company facilities or infrastructure),
explosions, and mechanical breakdowns that may occur while operating and maintaining Idaho Power Company assets, which can cause
unplanned outages, reduce generating output, damage company assets, operations, or reputation, subject Idaho Power Company to third-party
claims for property damage, personal injury, or loss of life, or result in the imposition of civil, criminal, and regulatory fines
and penalties for which Idaho Power Company may have inadequate insurance coverage;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the increased purchased power costs and operational challenges associated with purchasing and integrating
intermittent renewable energy sources into Idaho Power Company&rsquo;s resource portfolio;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">failure to comply with state and federal laws, regulations, and orders, including new interpretations
and enforcement initiatives by regulatory and oversight bodies, which may result in penalties and fines and increase the cost of
compliance, and the cost of remediation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">changes in tax laws or related regulations or new interpretations of applicable laws by federal,
state, or local taxing jurisdictions, and the availability of tax credits, and the tax rates payable by IDACORP shareholders on
common stock dividends;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">adoption of, changes in, and costs of compliance with, laws, regulations, and policies relating
to the environment, natural resources, and threatened and endangered species, and the ability to recover associated increased costs
through rates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify">the inability to obtain or cost of obtaining and complying with required governmental permits and
approvals, licenses, rights-of-way, and siting for transmission and generation projects and hydropower facilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify">failure to comply with mandatory reliability and security requirements, which may result in penalties,
reputational harm, and operational changes;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify">the impacts of economic conditions, including inflation, interest rates, supply costs, population
growth or decline in Idaho Power Company&rsquo;s service area, changes in customer demand for electricity, revenue </TD></TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20">
                                                                                                          <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="text-align: justify">from sales of
excess power, credit quality of counterparties and suppliers, and the collection of receivables;</TD></TR>
</TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the ability to obtain debt and equity financing or refinance existing debt when necessary and on
favorable terms, which can be affected by factors such as credit ratings, volatility or disruptions in the financial markets, interest
rate fluctuations, decisions by the Idaho or Oregon public utility commissions, and the companies&rsquo; past or projected financial
performance;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">changes in the method for determining LIBOR and the potential replacement of LIBOR and the impact
on interest rates for IDACORP&rsquo;s and Idaho Power Company&rsquo;s credit facilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the ability to enter into financial and physical commodity hedges with creditworthy counterparties
to manage price and commodity risk, and the failure of any such risk management and hedging strategies to work as intended;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">changes in actuarial assumptions, changes in interest rates, and the actual and projected return
on plan assets for pension and other post-retirement plans, which can affect future pension and other postretirement plan funding
obligations, costs, and liabilities and the companies&rsquo; cash flows;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the assumptions underlying the coal mine reclamation obligations at Bridger Coal Company and related
funding requirements, and the remediation costs associated with planned exits from participation in Idaho Power Company&rsquo;s
co-owned coal plants;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">the ability to continue to pay dividends based on financial performance, and in light of credit
rating considerations, contractual covenants and restrictions, and regulatory limitations;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify">Idaho Power Company&rsquo;s concentration in one industry and one region and the lack of diversification,
and the resulting exposure to regional economic conditions and regional legislation and regulation;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">employee workforce factors, including the operational and financial costs of unionization or the
attempt to unionize all or part of the companies&rsquo; workforce, the impact of an aging workforce and retirements, the cost and
ability to attract and retain skilled workers and third-party vendors, and the ability to adjust the labor cost structure when
necessary; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">adoption of or changes in accounting policies and principles, changes in accounting estimates,
and new Securities and Exchange Commission or New York Stock Exchange requirements, or new interpretations of existing requirements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Any
forward-looking statement speaks only as of the date on which such statement is made. New factors emerge from time to time and
it is not possible for management to predict all such factors, nor can it assess the impact of any such factor on the business
or the extent to which any factor, or combination of factors, may cause results to differ materially from those contained in any
forward-looking statement. We disclaim any obligation to update publicly any forward-looking information, whether in response to
new information, future events, or otherwise, except as required by applicable law. The forward-looking statements in this prospectus,
any prospectus supplement, and the documents incorporated by reference in this prospectus are qualified in their entirety by the
preceding cautionary statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a004_v1"></A>ABOUT IDACORP</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We are
a holding company formed in 1998, whose principal operating subsidiary is Idaho Power Company. We are subject to provisions of
the Public Utility Holding Company Act of 2005, which provides access to books and records to the Federal Energy Regulatory Commission
and state utility regulatory commissions and imposes record retention and reporting requirements on us. In 1998, we exchanged one
share of our common stock for each share of Idaho Power Company&rsquo;s common stock, and Idaho Power Company became our wholly-owned
subsidiary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Idaho
Power Company was incorporated under the laws of the State of Idaho in 1989 as successor to a Maine corporation organized in 1915.
Idaho Power Company is an electric public utility engaged in the generation,</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">transmission, distribution, sale and purchase of electric
energy and capacity and is regulated by the Federal Energy Regulatory Commission and the state utility regulatory commissions of
Idaho and Oregon. Idaho Power Company is the parent of Idaho Energy Resources Co., a joint venturer in Bridger Coal Company, which
supplies coal to the Jim Bridger generating plant owned in part by Idaho Power Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Idaho
Power Company&rsquo;s service territory covers a 24,000 square-mile area in southern Idaho and eastern Oregon. As of September
30, 2020, Idaho Power Company supplied electric energy to more than 580,000 general business customers. Idaho Power Company owns
and operates 17 hydroelectric generation facilities, three natural gas-fired plants and one diesel-powered generator, and shares
ownership in three coal-fired generating plants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Our other operating subsidiaries are:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>IDACORP Financial Services, Inc., an investor in affordable housing and other real estate investments; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Ida-West Energy Company, an operator of small hydroelectric generation projects that sell electric energy pursuant to the Public
Utility Regulatory Policies Act of 1978</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Our
principal executive office is located at 1221 W. Idaho Street, Boise, Idaho 83702, and our general telephone number is (208) 388-2200.
For additional information concerning our business and affairs, including our capital requirements and external financing arrangements,
and pending legal and regulatory proceedings, including descriptions of those laws and regulations to which we are subject, prospective
purchasers should refer to the documents incorporated by reference into this prospectus, as described in the section entitled &ldquo;Where
You Can Find More Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a005_v1"></A>THE PLAN</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a006_v1"></A>Purpose of the Plan</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">What is the purpose of the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
purpose of the plan is to provide our common shareholders, Idaho Power Company residential customers and other investors with a
convenient and economical method of investing in our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a007_v1"></A>Eligibility</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">Who is eligible to participate in
the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Any
interested investor is eligible to participate in the plan. However, regulations in certain countries may limit or prohibit participation
in the plan. If you reside outside the United States and wish to participate in the plan, then you should first determine whether
you are subject to any governmental regulations prohibiting your participation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a008_v1"></A>Advantages and Disadvantages</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20; text-indent: 0.25in">What are the
advantages of the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">The plan provides participants with a simple and regular method of purchasing our common stock.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Because the plan provides for aggregated purchases of our common stock, brokerage commissions on
purchases of shares on the open market should be lower than commissions you would ordinarily pay if you purchased shares directly.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">You will not receive any certificates for shares of common stock you purchase under the plan. This
relieves you of the responsibility for the safekeeping of multiple certificates and protects you against loss, theft or destruction
of stock certificates.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">You may send your certificated shares of IDACORP common stock to the Plan Administrator (defined
below) for safekeeping. These shares will participate in the plan. You may also convert your certificated </TD></TR></TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20">
                                                                                                                               <TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="width: 0.25in">&nbsp;</TD><TD STYLE="text-align: justify">shares to uncertificated
form through our direct registration system. See the procedures set forth in &ldquo;Direct Registration&rdquo; below.</TD></TR>
</TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Each quarter, or more frequently if you make optional cash payments or request a plan transaction,
you will receive a statement of your plan account, providing a simplified method of record keeping.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>Full investment of funds is possible under the plan because it permits fractions of shares, as well as full shares, to be credited
to your plan account, and dividends are calculated on both full and fractional shares.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>You may execute certain transactions online at <B>shareowneronline.com</B> or over the telephone, if you have authorized automated
privileges for your account.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What are the disadvantages of the
plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Before deciding whether to participate in the
plan, you should consider the following disadvantages of the plan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>You will not be able to time precisely your purchases through the plan and will bear the market risk associated with fluctuations
in the price of our common stock pending investment of funds under the plan.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>You will not earn interest on funds held pending their investment.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Your investment of cash dividends will result in your being treated for federal income tax purposes
as having received a dividend on the dividend payment date, to the extent of our earnings and profits. You may have to pay income
tax on the dividend even though the dividend is reinvested and does not provide cash to pay the tax.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">You will not know the actual number of shares of common stock bought for your account until after
the applicable investment period.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Because the Plan Administrator will buy shares of common stock for your account at an average price
per share, the price paid for your shares on any date may be greater than the price at which shares of our common stock are then
trading.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Sales of shares of common stock held in your plan account may be delayed. You will bear the market
risk pending sale of your shares pursuant to the plan.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">You may not pledge shares of common stock credited to your plan account unless you withdraw such
shares from the plan.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">Plan accounts are not insured by the Securities Investor Protection Corporation, the Federal Deposit
Insurance Corporation or any other entity.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a009_v1"></A>Administration</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">Who administers the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #231F20">Equiniti Trust Company d/b/a
EQ Shareowner Services, which we refer to in this prospectus as the &ldquo;Plan Administrator,&rdquo; administers the plan. The
Plan Administrator is responsible for:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>enrolling new participants in the plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>reinvesting dividends;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>processing optional cash payments;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>processing share sale requests;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>depositing and safekeeping plan shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>keeping records;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>processing requests to move shares into direct registration; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>issuing account statements.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator is also responsible for purchasing and selling shares of common stock for participants&rsquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">plan accounts,
including the selection of the broker who makes the purchases and sales. We have no control over the times or prices at which the
Plan Administrator effects transactions in the open market or the selection of the broker used by the Plan Administrator to effect
open market transactions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
may obtain information about the plan, the Plan Administrator or your plan account by contacting the Plan Administrator online,
by telephone or in writing, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><I>Internet:</I>&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">shareowneronline.com</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">Available 24 hours a day, 7 days a week for
access to account information and answers to many common questions and general inquiries.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><I>Email:</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">Go to <B>shareowneronline.com </B>and select
&ldquo;Contact Us.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><I>Telephone:</I>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">1-800-565-7890 Toll-Free</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">651-450-4064 outside the United States</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Customer Care Specialists are available Monday
through Friday, from 7:00 a.m. to 7:00 p.m. Central Time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">You may also access your account information
24 hours a day, 7 days a week using our automated voice response system.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><I>Written correspondence and deposit of certificated
shares*:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">EQ Shareowner Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">P.O. Box 64856</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">St. Paul, MN 55164-0856</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><I>Certified and overnight delivery:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">EQ Shareowner Services 1110 Centre</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Pointe Curve,
Suite 101 Mendota</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Heights, MN 55120-4100</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">*If sending in a certificate for deposit, see
&ldquo;Certificate Deposit Information.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">When
communicating with the Plan Administrator about an existing account, you should provide your name, account number and a daytime
telephone number. Be sure also to refer to &ldquo;IDACORP, Inc.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator reserves the right to resign at any time upon reasonable notice to us, and we reserve the right to replace the
Plan Administrator upon reasonable notice.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a010_v1"></A>Account Forms</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20; text-indent: 0.25in">What forms
do I use to enroll in the plan, make changes to my plan account or request transactions?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">To enroll
in the plan, make changes to your plan account or request transactions, you should complete the appropriate account form and return
it to the Plan Administrator. We explain the different forms below. You may download the forms at <B>shareowneronline.com</B> or
obtain these account forms by contacting the Plan Administrator by telephone. You should return all forms to the Plan Administrator.
You may conduct certain transactions online at <B>shareowneronline.com </B>or by telephone without using these account forms. See
&ldquo;Account Access&rdquo; below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Account
Authorization Form. </I>An <I>Account Authorization Form </I>is used to enroll in the plan and, at the time of enrollment, select
a dividend reinvestment option and, if you choose, authorize automatic withdrawals and/or authorize automated account access. Once
you have enrolled in the plan, you may use the <I>Account Authorization</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I></I></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20"><I>Form </I>to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>establish, change or terminate automatic withdrawals;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>change your address on record;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>make or change dividend reinvestment elections; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>authorize automated requests.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Transaction
Request Form.</I> A <I>Transaction Request Form</I> is used to change or terminate automatic withdrawals, make optional cash payments,
sell plan shares, deposit share certificates, request shares be issued into direct registration, and terminate participation in
the plan. A <I>Transaction Request Form </I>is attached to each account statement mailed to participants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Direct
Deposit of Dividends Authorization Form. </I>You may use a <I>Direct Deposit of Dividends Authorization Form </I>or sign up online
to authorize the direct deposit of cash dividends that are not being reinvested to your bank account. Follow the instructions on
<B>shareowneronline.com </B>to authorize direct deposit. In the alternative, simply complete a <I>Direct Deposit of Dividends Authorization
Form </I>and return it to the Plan Administrator along with a voided check, for deposits to a checking account, or savings deposit
slip, for deposits to a savings account, and we will begin depositing dividend funds directly to your account. If your stock is
jointly owned, please ensure that all registered owners sign the form.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Stock
Power Form.</I> A <I>Stock Power Form</I> is used to transfer ownership, gift your shares or request a name change. A <I>Stock
Power Form</I>, along with instructions can be accessed and printed through <B>shareowneronline.com</B>. Please note that you must
obtain a Medallion Signature Guarantee for any transfer of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a011_v1"></A>Enrollment</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">How do I enroll in the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>If
you are an existing registered shareowner. </I>If your shares are currently registered in your name with IDACORP, not held on your
behalf by your broker or bank in their name (&ldquo;street name&rdquo;), you can enroll through <B>shareowneronline.com </B>or
by submitting an <I>Account Authorization Form </I>by mail.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>If
you are a new investor.</I> If you do not already own IDACORP shares registered in your name, you can enroll in the plan by submitting
a completed <I>Account Authorization Form</I> along with a payment for your initial investment. You may enroll through <B>shareowneronline.com</B>
and authorize an automatic withdrawal from your bank account or through the mail by sending the <I>Account Authorization Form </I>along
with a check.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>If
you own shares in street name.</I> If you currently own shares of IDACORP common stock that are held on your behalf by a bank or
broker (in &ldquo;street name&rdquo;), you can instruct the bank or broker to transfer at least one share to a book-entry Direct
Registration Shares (&ldquo;DRS&rdquo;) account registered in your name. Once the process is complete, you will receive a statement
showing the deposit of shares to book-entry DRS. Upon receipt of the statement, you can enroll in the plan as an existing registered
shareowner.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Are there any additional enrollment
requirements for investors who are not already common shareholders?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">Yes.
If you are not a common shareholder of record, you must make an initial investment and pay an enrollment fee in order to enroll
in the plan. The size of the initial investment depends on whether or not you are a residential customer of Idaho Power Company.
If you are a residential customer of Idaho Power Company, you may enroll by sending the Plan Administrator a completed <I>Account
Authorization Form</I> along with a check for at least $25 but not more than $20,000, plus a $15 enrollment fee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If you
are not an Idaho Power Company residential customer, you may enroll by sending the Plan Administrator a completed <I>Account Authorization
Form</I> along with a check for at least $200 but not more than $20,000, plus a $15</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">enrollment fee. If you authorize automatic
withdrawals from a bank account, we will waive the initial investment. For more information about automatic withdrawals, please
see &ldquo;Optional Cash Payments.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator will make every effort to process your investment in the next investment period, provided that it receives the
funds no later than one business day prior to the investment period. Otherwise, the Plan Administrator holds cash for investment
in the next investment period. See &ldquo;Optional Cash Payments&rdquo; for information about sending checks to the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a012_v1"></A>Dividend Reinvestment</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">How does dividend reinvestment work?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator will reinvest dividends on shares held in your plan account, including any shares that you deposit for safekeeping.
When you enroll in the Plan, you may select the option to automatically reinvest your dividend. If you do not select an option,
the Plan Administrator will default your choice to full reinvestment. You have the following investment options on shares registered
in your name:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #231F20"><I>Full Dividend Reinvestment.</I> All cash dividends payable on shares
held in the plan, along with any shares held in physical certificate form or through book-entry Direct Registration Shares (&ldquo;DRS&rdquo;),
will be used to purchase additional shares. The participant will not receive cash dividends from IDACORP; instead, all dividends
will be reinvested. Whole and fractional shares will be allocated to the plan account. (RD)</FONT>&nbsp;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Partial Dividend Reinvestment by Shares.</I> A participant may elect to reinvest a portion of
the dividend and receive the remainder in cash. The number of partial shares elected will be applied to the total shares held in
the plan, along with any shares held in physical certificate form or held through book-entry DRS. The cash portion of dividends
will be sent by check unless the participant has elected to have those dividends deposited directly to a designated bank account.
(RP)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Partial Dividend Reinvestment by Percentage.</I> A participant may elect to reinvest a portion
of the dividend and receive the remainder in cash. The percentage elected will be applied to the total shares held in the plan,
along with any shares held in physical certificate form or held through book-entry DRS. A participant may elect percentages from
10%-90%, in increments of 10%. The cash portion of dividends will be sent by check unless the participant has elected to have those
dividends deposited directly to a designated bank account. (RX%)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; color: #231F20"><I>An example of partial
reinvestment by percentage: </I>A participant has a total of 150 shares; 120 shares are held in the plan, 15 shares are held in
physical certificate form, and 15 shares are held in book-entry DRS. The participant chooses to have 50% of the total dividend
reinvested. This will equate to 75 shares having dividends reinvested and 75 shares having dividends paid in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Optional Cash Payments Only.</I> A participant will be paid cash for the shares held in physical
certificate form or held through book-entry DRS. All shares held in the plan will be reinvested. The cash portion of dividends
will be sent by check unless the participant has elected to have those dividends deposited directly to a designated bank account.
(RV)</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Does it matter whether I hold shares
in certificate form or through direct registration?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">No.
If you elect full dividend reinvestment, dividends on your shares, whether held in certificate form or through direct registration,
will be reinvested. If you elect partial dividend reinvestment, dividends on the number of shares you specify will be reinvested.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">When will dividend reinvestment
begin?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If the
Plan Administrator receives your properly completed <I>Account Authorization Form </I>at least one business day before the record
date for a dividend, the Plan Administrator will begin reinvestment with that dividend.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>



<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I have cash dividends that are
not being reinvested deposited directly into my bank account?</P>
<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
you may have cash dividends that are not being reinvested deposited directly to your bank account. Follow the instructions on <B>shareowneronline.com
</B>to authorize direct deposit. In the alternative, simply complete a <I>Direct Deposit of Dividends Authorization Form </I>and
return it to the Plan Administrator along with a voided check, for deposits to a checking account, or savings deposit slip, for
deposits to a savings account, and we will begin depositing dividend funds directly to your account. If your stock is jointly owned,
please ensure that all registered owners sign the form. You may obtain a <I>Direct Deposit of Dividends Authorization Form </I>by
contacting the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a013_v1"></A>Optional Cash Payments</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">How do I make optional cash payments?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">After
enrolling in the plan, you may make optional cash payments by authorizing automatic withdrawals from your bank account or by sending
a check to the Plan Administrator at any time. You may vary your optional cash payments from a minimum of $25 per transaction up
to a maximum of $20,000 per month.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Optional
Cash Payment by Check. </I>When making optional cash payments by check, you must include a completed <I>Transaction Request Form</I>.
The Plan Administrator attaches <I>Transaction Request Forms</I> to your account statements. You may also obtain <I>Transaction
Request Forms </I>by contacting the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
should make your check payable to &ldquo;EQ Shareowner Services&rdquo; and include your account number on your check. Be sure also
to refer to &ldquo;IDACORP, Inc.&rdquo; on the face of the check. You should mail your check directly to the Plan Administrator
at the address set forth above under &ldquo;Administration.&rdquo; Do not mail checks to IDACORP, Inc. The Plan Administrator will
not accept cash, money orders, traveler&rsquo;s checks or third party checks. Your check must be in U.S. dollars and drawn on a
United States or Canadian financial institution. If you live outside the United States, contact your bank to verify that they can
provide you with a check that clears through a United States or Canadian financial institution and can print the dollar amount
in U.S. funds. Due to the longer clearance period, the Plan Administrator is unable to accept checks through a non-United States
bank.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator will make every effort to process your payment in the next investment period. If the Plan Administrator receives
the payment at least one business day before the dividend payment date or, in any month in which dividends are not paid, one business
day before the 25th day of the month or, if the 25th day of the month is not a trading day, the next business day, the payment
will be invested during the next investment period. Otherwise, the Plan Administrator holds cash payments for investment in the
next investment period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">You will not earn interest on any cash payments
held pending their investment into common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
may obtain a refund of any cash payment upon request if the Plan Administrator receives the request on or before the second business
day prior to the date on which it is to be invested. However, the Plan Administrator will not make any refunds until it has actually
collected the funds from your check.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Optional
Cash Payment by Automatic Withdrawal.</I> You may set up automatic withdrawal from a designated bank account. The request may be
submitted online, by telephone or by sending an <I>Account Authorization Form</I> by mail (see &ldquo;Administration&rdquo; above).
Requests are processed and become effective as promptly as administratively possible. Once the automatic withdrawal is initiated,
funds will be debited from the participant&rsquo;s designated bank account four business days before the beginning of the next
investment period. Changes or a discontinuation of automatic withdrawals can be made online, by telephone or by using the <I>Transaction
Request Form</I> attached to the participant&rsquo;s statement. To be effective with respect to a particular investment date, a
change request must be received by the Plan Administrator at least 15 trading days prior to the investment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
will not receive confirmation of the transfer of funds other than as reflected in your quarterly plan account and in your bank
account statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Uncollected
Optional Cash Payments. </I>In the event that any check or any automatic withdrawal is returned unpaid for any reason, the Plan
Administrator will consider the request for investment of such money null and void and shall immediately remove from the participant&rsquo;s
account shares, if any, purchased upon the prior credit of such money. The Plan Administrator shall then be entitled to sell these
shares to satisfy any uncollected amounts. If the net proceeds of the sale of such shares are insufficient to satisfy the balance
of such uncollected amounts, the Plan Administrator shall be entitled to sell additional shares from the participant&rsquo;s account
to satisfy the uncollected balance. The Plan Administrator will also charge a returned funds fee for an optional cash payment returned
unpaid for any reason, whether the investment was made by check or by attempted automatic withdrawal from a bank account. This
fee will be collected by the Plan Administrator through the sale of the number of shares necessary to satisfy the fee from the
participant&rsquo;s plan account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Investment
of Pending Optional Cash Payments. </I>Participants will not earn interest on funds held by the Plan Administrator. During the
period that an optional cash investment is pending, the collected funds in the possession of the Plan Administrator may be invested
in certain Permitted Investments. For purposes of this plan, &ldquo;Permitted Investments&rdquo; shall mean the Plan Administrator
may hold the funds uninvested or invested in select Wells Fargo deposit products. The risk of any loss from such Permitted Investments
shall be the responsibility of the Plan Administrator. Investment income from such Permitted Investments shall be retained by the
Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a014_v1"></A>Changing Your Investment Options</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I change my investment options
under the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
you may change your investment options at any time online at <B>shareowneronline.com </B>or by contacting the Plan Administrator
by telephone or completing and returning an <I>Account Authorization Form</I>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a015_v1"></A>Investment Period &ndash; Source of Shares
&ndash; Purchase Price</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">When will funds be invested under
the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">The Plan Administrator will invest funds monthly
under the plan as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"><I>Reinvested Dividends:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 96%; border-collapse: collapse; margin-left: 0.25in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="color: #231F20"><U>Type of Purchase</U></FONT></TD>
    <TD STYLE="width: 80%"><FONT STYLE="color: #231F20"><U>Investment Period</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: #231F20">Original issue stock</FONT></TD>
    <TD><FONT STYLE="color: #231F20">On the dividend payment date for the common stock &ndash; generally the last day of February and the 30th day of May, August and November.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: #231F20">Open market purchases</FONT></TD>
    <TD><FONT STYLE="color: #231F20">Within 30 days after the dividend payment date. The Plan Administrator will determine the exact time of open market purchases.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"><I>Initial Investments and Optional Cash Payments:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 96%; border-collapse: collapse; margin-left: 0.25in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%"><FONT STYLE="color: #231F20"><U>Type of Purchase</U></FONT></TD>
    <TD STYLE="width: 80%"><FONT STYLE="color: #231F20"><U>Investment Period</U></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="color: #231F20">Original issue stock</FONT></TD>
    <TD><FONT STYLE="color: #231F20">On the dividend payment date for the common stock &ndash; generally the last day of February and the 30th day of May, August and November, and on the 25th day of the month in any month in which we do not pay dividends. If the 25th day of the month is not a trading day, on the following trading day.</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0; color: #231F20"></P>


<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0; color: #231F20"></P>


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<P STYLE="margin-top: 0; margin-bottom: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 96%; border-collapse: collapse; margin-left: 0.25in">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 20%; font-size: 10pt"><FONT STYLE="color: #231F20">Open market purchases</FONT></TD>
    <TD STYLE="width: 80%; font-size: 10pt"><FONT STYLE="color: #231F20">Within 30 days after the dividend payment date or the 25th day of the month in any month in which we do not pay dividends. The Plan Administrator will determine the exact time of open market purchases.</FONT></TD></TR>
</TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If for
any reason purchases are not made within 35 days, the Plan Administrator will return your uninvested funds to you. You will not
earn any interest on funds held for investment by the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What are the sources of common stock
for the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We decide
on the source of common stock for the plan. If we choose open market stock, the Plan Administrator will purchase common stock on
the open market. Our common stock is currently listed on the New York Stock Exchange. If we use original issue or treasury stock
for the plan, the Plan Administrator will purchase the common stock from us. Subject to certain limitations, the Plan Administrator
has full discretion regarding open market purchases. This discretion includes, but is not limited to, determining:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the number of shares, if any, to be purchased on any day;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the time of day to purchase shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the price paid for such shares;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the markets on which such shares are purchased, including on any securities exchange, on the over-the- counter market or in
negotiated transactions; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the persons, including other brokers through whom such purchases are made.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator, in its sole discretion, has the right to purchase original issue stock directly from us if the Plan Administrator
cannot make all necessary open market purchases within the investment period. The Plan Administrator has this right even if we
have directed that the shares be purchased in the open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">How many shares will be purchased
for me?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
number of shares purchased will depend on the dollar amount you are investing and the price of the common stock. The Plan Administrator
will credit your plan account with the number of shares, computed to three decimal places, equal to the total dollar amount invested,
less brokerage commissions, divided by the weighted average price per share paid to buy the shares. You may not direct the Plan
Administrator to purchase a specific number of shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What is the price of common stock
purchased under the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
price of common stock purchased on the open market will be the weighted average price, including brokerage commissions, paid by
the Plan Administrator to buy the stock during that investment period. The price of common stock purchased directly from us will
be the average of the reported high and low sales prices as reported on the consolidated transaction reporting system on the date
of purchase.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a016_v1"></A>Expenses to Participants</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Although
we pay all costs of administering the plan, you will incur fees and expenses in connection with purchases and sales for your plan
account, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 70%"><FONT STYLE="font-size: 10pt; color: #231F20"><I>Investment Summary:</I></FONT></TD>
    <TD STYLE="width: 2%">&nbsp;</TD>
    <TD STYLE="width: 28%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="color: #231F20">Minimum cash investments</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Minimum one-time initial purchase for new investors &ndash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Not a residential customer of Idaho Power</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$200.00 </FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Minimum one-time initial purchase for new investors &ndash;</FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-size: 10pt; color: #231F20">Residential customer of Idaho Power</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">$25.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-size: 10pt; color: #231F20">Minimum one-time optional cash purchase</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">$25.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="font-size: 10pt; color: #231F20">Minimum recurring automatic investments</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">$25.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Maximum monthly investment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">$20,000.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20"><I>Fees:</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20"><I>Investment fees</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Initial enrollment (new investors only)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$15.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Dividend reinvestment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">Company Paid</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Check investment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">Company Paid</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">One-time automatic investment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">Company Paid</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Recurring automatic investment</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">Company Paid</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Dividend purchase trading commission per share</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$0.06</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Optional cash purchase trading commission per share</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$0.06</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20"><I>Sales fees</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Batch Order</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$15.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Market Order</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$25.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Limit Order per transaction (Day/GTD/GTC)</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$30.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Stop Order</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$30.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Sale trading commission per share</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$0.12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Direct deposit of sale proceeds</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$5.00</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in">&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20"><I>Other fees</I></FONT></TD>
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Certificate deposit</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">Company Paid</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in"><FONT STYLE="color: #231F20">Returned check / Rejected automatic bank withdrawals</FONT></TD>
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="color: #231F20">$35.00 per item</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.375in">Prior year duplicate statements</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$20.00 per year</FONT></TD></TR>
</TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a017_v1"></A>Deposit of Certificates</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I deposit certificated shares
in my plan account?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
you may, at no cost to you, deposit into your plan account certificates representing shares of our common stock, whether or not
the shares were acquired under the plan. Share certificates deposited with the Plan Administrator are credited to your plan account
and are treated as if acquired under the plan, with all dividends being reinvested. You are responsible for maintaining your own
records on the cost basis of certificated shares deposited with the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">To do
so, send your certificates to the Plan Administrator accompanied by the <I>Transaction Request Form </I>attached to your account
statement. <B>Do not endorse the certificates or complete the assignment section on the back of the certificates. </B>We recommend
that you use registered mail to send your certificates to the Plan Administrator, insuring the certificates for 4% of the current
market value of the stock represented thereby. In any case, you bear the full risk of loss, regardless of the method used to deliver
the certificates to the Plan Administrator, in the event the certificates are lost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Depositing
shares into your plan account is different from direct registration. In direct registration, your shares are not part of the plan
and dividends are not reinvested, unless you indicate that you want your shares to participate in the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Is mail loss insurance available?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Choosing
registered, express or certified mail alone will not protect you should your certificates become lost or stolen. The Plan Administrator
can provide loss insurance for certificates being returned for conversion to book-entry form. Mail loss insurance covers the cost
of the replacement surety bond only. Replacement transaction fees may also apply. To take advantage of the optional mail loss insurance,
you must include a $10 check, made payable to EQ Surety Program, along with your certificates and instructions. To qualify for
this service, you must choose to use an accountable mail delivery service such as Federal Express, United Parcel Service, DHL,
Express Mail, Purolator, TNT or United States Postal Service Registered Mail. Any one shipping package may not contain certificates
exceeding a total value of $100,000. The value of certificated shares is based on the closing market price of the common stock
on the trading day prior to the documented mail date. Claims related to lost certificates under this service must be made within
60 days of the documented delivery service mail date. This is specific coverage for the purpose of converting shares to book-entry
form and the surety is not intended to cover certificates being tendered for certificate breakdown or exchange for other certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a018_v1"></A>Share Transfers and Gifts</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I transfer plan shares to another
person?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
you may transfer plan shares to another person, subject to compliance with applicable laws. To do this, you must complete and sign
a <I>Stock Power Form </I>and return the completed executed <I>Stock Power Form </I>to the Plan Administrator. Your signature on
the stock power must be medallion guaranteed by an eligible financial institution. You may obtain a <I>Stock Power Form </I>online
at <B>shareowneronline.com </B>or by contacting the Plan Administrator by telephone. For further instructions relating to the transfer
of plan shares to another person, contact the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I purchase shares for others?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
you may purchase shares of common stock for others by making cash payments on their behalf. If the recipient is not already a participant
in the plan, you must have the recipient complete an <I>Account Authorization Form </I>and submit the completed form and the following
to the Plan Administrator:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>an enrollment fee; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>an initial investment of $25 if the recipient is a residential customer of Idaho Power Company; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>an initial investment of $200 if the recipient is not a residential customer of Idaho Power Company.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If the
recipient is already a participant in the plan, you may submit a check of at least $25 with the recipient&rsquo;s account number
and name on it. Be sure to refer to &ldquo;IDACORP, Inc.&rdquo; on the face of the check.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a019_v1"></A>Selling and Withdrawing Shares</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">How may I sell shares held in my
plan account?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
may sell shares held in your plan account at any time. You may place sale orders online, by telephone or through the mail, to the
extent noted below. You may instruct the Plan Administrator to sell shares under the plan through a Batch Order, Market Order,
Day Limit Order, Good-&rsquo;Til-Date/Canceled Limit Order or Stop Order, which are described below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Batch Order (online, telephone, mail)</I> &ndash; Requests to sell shares are aggregated and
the total of all shares are sold on the open market. Batch Order sale requests will be completed by the Plan Administrator within
five business days (except where deferral is necessary under state or federal regulations). The price per share sold will not be
known until the sales are completed and will always be the weighted- average price for all shares sold for the plan on the trade
date. Once entered, a Batch Order cannot be canceled by the participant.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Market Order (online or telephone) </I>&ndash; During market hours, sale requests will be promptly
submitted by the Plan Administrator to a broker. The sale will be at the prevailing market price when the trade is executed. Once
entered, a Market Order request cannot be canceled. Sale requests submitted near the close of the market may be executed on the
next trading day, along with other requests received after market close.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Day Limit Order (online or telephone) </I>&ndash; Sale requests for a Day Limit Order will be
promptly submitted by the Plan Administrator to a broker. The sale will be executed when and if the stock reaches or exceeds the
specified price on the day the order was placed. The request will be automatically canceled if the price is not met by the end
of the trading day. If you submit a Day Limit Order when the market is closed, your order will be processed on the next business
day. Once entered, a Day Limit Order cannot be canceled by the participant. Depending on the number of shares being sold and current
trading volumes, the order may only be partially filled and the remainder of the order cancelled.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Good-&rsquo;Til -Date/Canceled (GTD/GTC) Limit Order (online or telephone)</I> &ndash; Requests
to sell shares with a GTD and GTC Limit Order will be promptly submitted by the Plan Administrator to a broker. The sale will be
executed when and if the stock reaches or exceeds the specified price during the period specified in the order. GTC orders expire
after 90 days if the order does not specify a shorter period. The request is automatically canceled if the price is not met by
the end of the order period. The unfilled portion of an order also may be canceled by the applicable stock exchange or by the participant
prior to the termination or cancellation date specified in the order.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify"><I>Stop Order (online or telephone) </I>&ndash; Requests to sell shares will be promptly submitted
by the Plan Administrator to a broker for a Stop Order. The sale will be executed when the stock reaches a specified price, at
which time the order becomes a Market Order and the sale will be at the prevailing market price when the trade is executed. The
price specified in the order must be below the current market price.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Please
note that IDACORP&rsquo;s share price may fluctuate between the time your sale request is received and the time the sale is completed
on the open market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Requests
received by mail will be processed as a Batch Order. When submitting a written request, please include your name and account number
and reference &ldquo;IDACORP, Inc.&rdquo; Also, please remember to sign your name as it appears on your account whenever you submit
written instructions to the Plan Administrator. All registered owners must sign.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">IDACORP&rsquo;s
Insider Trading and Transactions in Company Securities Standard prohibits trading in IDACORP&rsquo;s common stock if the shareholder
or the potential shareholder is in possession of material, non-public information about the company, with very limited exceptions
(generally relating to programmatic trading pursuant to authorized Rule 10b5-1 plans). Share sales by employees, affiliates and
Section 16 officers must be made in compliance with IDACORP&rsquo;s Insider Trading and Transactions in Company Securities Standard.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"><I>Additional Terms and Conditions for Selling
Shares</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Sales
are usually made through a broker, who will receive brokerage commissions. The Plan Administrator is authorized, in its sole discretion,
to choose any broker to make sales of plan shares. The Plan Administrator will furnish you the name of the registered broker used
to sell your shares within a reasonable time upon written request. Typically, the shares are sold through the New York Stock Exchange.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Depending
on the number of shares to be sold and the current trading volume, sale transactions may be completed in multiple transactions
and over the course of more than one day (except in the case of a Day Limit Order). All sales are subject to market conditions,
system availability, restrictions and other factors. The actual sale date, time or price received for any shares sold through the
plan cannot be guaranteed. IDACORP&rsquo;s share price may fluctuate between the time the sale request is received and the time
the sale is completed on the open market. The Plan Administrator will not be liable for any claim arising out of a failure to sell
stock on a certain date or at a specific price. You bear this risk by participating in the plan, and you should evaluate and monitor
this risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Sales
proceeds will be net of any fees to be paid by the participant. The Plan Administrator will deduct any fees or applicable tax withholding
from the sale proceeds. Sales processed on accounts without a valid Form W-9 for U.S. citizens or Form W-8BEN for non-U.S. citizens
will be subject to Federal Backup Withholding. This withholding can be avoided by furnishing the appropriate and valid form prior
to the sale. Forms are available online at <B>shareowneronline.com</B>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">A check
for the proceeds of the sale of shares (in U.S. dollars), less applicable taxes and fees, will be mailed by first class mail as
soon as administratively possible after the settlement date. If you submit a request to sell all or part of your plan shares, and
you request that the net proceeds be deposited electronically into a checking or savings account, you must provide a voided blank
check for a checking account or blank savings deposit slip for a savings account. If you are unable to provide a voided check or
deposit slip, your written electronic deposit request must include a medallion signature guarantee from an eligible financial institution.
Requests for automatic deposit of sale proceeds that do not provide the required documentation will not be processed (although
the sale will be completed as described above), and the Plan Administrator will issue a check for the net sale proceeds.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">A participant
who wishes to sell shares currently held in certificate form may send them in for deposit to the Plan Administrator and then may
proceed with the sale. To sell shares through a broker of your choice, you may request the broker to transfer shares electronically
from your plan account to your brokerage account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I withdraw shares from my plan
account without terminating participation in the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">Yes,
you may withdraw any number of whole shares held in your plan account at any time. You may request a withdrawal by completing a
<I>Transaction Request Form </I>and returning it to the Plan Administrator. Requests can be submitted through <B>shareowneronline.com</B>,
over the telephone and by mail. The Plan Administrator will transfer your whole plan shares into your direct registration account
and issue a direct registration statement to you. For more information, see &ldquo;Direct Registration.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What happens when I sell or transfer
all of the shares registered in my name?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If you
sell all the shares in your account, or if you hold less than one full share in your account, the Plan Administrator may terminate
your participation in the plan. If you sell fewer than all the shares, you will continue to participate in the plan unless you
inform the Plan Administrator of your desire to stop participating. If you transfer all shares of common stock registered in your
name into a new registration, the Plan Administrator will not automatically transfer the plan account to the new registration.
You must contact the Plan Administrator to request a transfer of plan shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a020_v1"></A>Termination of Participation</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">When and how may I close my plan
account?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Your
participation in the plan is entirely voluntary. You may terminate your participation at any time online at <B>shareowneronline.com</B>,
by submitting a <I>Transaction Request Form </I>with the appropriate information or by submitting a written request to the Plan
Administrator, which must include your name, account number and a reference to &ldquo;IDACORP, Inc.&rdquo; You may also terminate
your participation in the plan by telephone.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator will process termination requests promptly. If the Plan Administrator receives your termination request on or
after the dividend record date but before the dividend payment date, the Plan Administrator will process your termination request
as soon as administratively possible and mail a separate dividend check to you. We will not reinvest any future dividends unless
you re-enroll in the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In addition,
the Plan Administrator must receive requests to terminate automatic withdrawals from a bank account at least fifteen (15) business
days prior to the beginning of the next investment period in order for the request to become effective before the next optional
cash payment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Upon
termination of your participation in the plan, unless you have requested that some or all plan shares be sold, the Plan Administrator
will transfer your whole plan shares to your direct registration account and issue a direct registration statement to you. The
Plan Administrator will also issue you a check for any fractional share, less any applicable brokerage commissions and service
fees. For more information, see &ldquo;Direct Registration.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If you
so request, the Plan Administrator will sell some or all plan shares on your behalf. After settlement of the sale, the Plan Administrator
will send you a check for the proceeds from the sale, less any applicable brokerage commissions and service fees.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator reserves the right to terminate participation in the Plan if a participant does not have at least one whole
share in the Plan. Upon termination the participant may receive the cash proceeds from the sale of any fractional share, less any
service fee and brokerage commission.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">If I terminate participation, may
I re-enroll in the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Generally,
you may re-enroll in the plan at any time. However, we and the Plan Administrator reserve the right to reject an <I>Account Authorization
Form</I> on any grounds, including excessive enrollment and termination. We reserve the right to deny, modify, suspend or terminate
participation in the plan by otherwise eligible persons to the extent we deem it advisable or necessary in our discretion to comply
with applicable laws or to eliminate practices that are not consistent with the purposes of the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a021_v1"></A>Certificates for Shares &ndash; Accounts</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Will I receive certificates for
shares purchased in the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">No.
The Plan Administrator holds the shares purchased for you in your plan account. This service protects against loss, theft or destruction
of stock certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">In whose name will accounts be maintained?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Your
plan account will be maintained in the name or names which appear on our shareholder records or in the name that you indicate on
the <I>Account Authorization Form</I>. If you transfer shares to a direct registration account, that account will be maintained
in the name or names which appear on our shareholder records. See the procedures set forth in &ldquo;Direct Registration&rdquo;
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a022_v1"></A>Account Access</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I execute transactions by telephone?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
in order to conduct transactions by telephone, you will need to authorize automated privileges for your account and select a personal
identification number for security purposes. You may establish automated privileges by telephoning the Plan Administrator. After
you have authorized automated privileges, you will be able to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">change your dividend reinvestment option;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">change the dollar amount of or terminate automatic withdrawals from your bank account;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD STYLE="text-align: justify">sell all or a portion of your plan shares, if you have a designated bank account. Certain restrictions
may apply.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I view my account information
and execute transactions online?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Yes,
you may view your account balance, stock values, dividend information, reinvestment details and other helpful information at <B>shareowneronline.com</B>.
The Plan Administrator maintains this website. You may also use online access to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>enroll in the plan;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>change your dividend reinvestment option;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>authorize, change or terminate automatic withdrawals from your bank account;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>sell all or a portion of your shares if you have a designated bank account and, for joint accounts, you have previously authorized
automated account access;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>elect to view statements, tax forms and company communications &ndash; you will receive an email notification when new documents
are available for viewing; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>update your personal information.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">How do I establish online access?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
may establish online access or enroll in the plan online by going to <B>shareowneronline.com</B> and following the instructions
for online access enrollment. Participation in the plan through the Plan Administrator&rsquo;s online services is voluntary.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">To enroll in the Plan:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"><I>If you are an existing registered shareowner:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: #231F20"><B>1.</B></FONT></TD><TD><FONT STYLE="color: #231F20">Go to <B>shareowneronline.com</B></FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: #231F20">2.</FONT></TD><TD><FONT STYLE="color: #231F20">Select </FONT> <B>Register
</B>then <B>Register for Online Access</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD>Enter your Company Name, Authentication ID* and Account
Number</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: #231F20">*</FONT></TD><TD><FONT STYLE="color: #231F20">If you do not have your
Authentication ID, select <B>I </B></FONT><B> don&rsquo;t know</B> and complete the online form to have it sent to you<FONT STYLE="color: #231F20"><B>.
</B>For security, this number is required for first time sign on.</FONT></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; color: #231F20"><I>If you are a new investor:</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; color: #231F20"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><B>1.</B></TD><TD>Go to <B>shareowneronline.com</B></TD>
</TR></TABLE>

<P STYLE="margin: 0 0 0 0.25in; font: 10pt Times New Roman, Times, Serif"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: #231F20">2.</FONT></TD><TD><FONT STYLE="color: #231F20">Select </FONT> <B>Register
</B>then <B>Buy Shares in a Company</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; color: #231F20; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left">3.</TD><TD>Select &ldquo;<B>IDACORP, Inc.</B>&rdquo;</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; color: #231F20"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0in; margin-bottom: 0in; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="color: #231F20">4.</FONT></TD><TD><FONT STYLE="color: #231F20">Select </FONT> <B>Invest
in this company</B> and follow the instructions to buy shares</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Your
account number can be found on your dividend check, dividend deposit notice or account statement. If you do not have your Authentication
ID, you may request one online or by phone. Your Authentication ID will be sent to your mailing address on file.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">After
you have successfully signed up, you will be able to access your account immediately. You will also receive written confirmation
to your mailing address on file that your account has been activated for online access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a023_v1"></A>Account Statements</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What kind of reports will I receive
from the Plan Administrator?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator maintains an account for each plan participant and sends account statements to each participant as soon as administratively
possible after each quarterly dividend reinvestment, after each optional cash payment and after any transfer, sale, deposit or
withdrawal of plan shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
account statements provide you with records of your purchases and sales and should be retained for tax purposes. The Plan Administrator
charges a fee to supply historical statement information. In addition, you will receive copies of or have access to all communications
sent to holders of our common stock, including the annual report, the notice of annual meeting and proxy statement, and any reports
or informational statements required by the Internal Revenue Service. You may elect to have your statements and other information
sent to you automatically by initiating eDelivery through <B>shareowneronline.com</B><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: #231F20">.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Shares
of common stock credited to your plan account are subject to escheat to the state in which you reside in the event such shares
are deemed, under such state&rsquo;s laws, to have been abandoned by you. You should therefore notify the Plan Administrator promptly
in writing of any change of address. Account statements and other communications will be addressed to you at your last address
on record with the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a024_v1"></A>Other Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What happens if IDACORP issues a
stock dividend, declares a stock split or has a rights offering?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Any
stock dividends or stock splits distributed by IDACORP on common stock held by the Plan Administrator for the participant will
be credited to the participant&rsquo;s account. This will include all whole and fractional shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In the
event that IDACORP makes available to its shareowners any rights to subscribe for additional common stock, the rights to subscribe
will be based on any shares held in and outside of the plan. Any new shares distributed by IDACORP resulting from the exercise
of the rights will be issued directly to the participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">How do I vote my shares at meetings
of shareholders?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Participants
in the plan will receive voting materials and have the sole right to vote the common stock of IDACORP represented by their shares
in the plan. In the event the participant does not provide direction for voting, the plan shares will not be voted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">The
participant is encouraged to read the voting materials carefully. Votes may be submitted online, by telephone or by returning the
signed, dated proxy card.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20; text-indent: 0.25in">A participant&rsquo;s shares will be voted in
accordance with the most recently submitted instructions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">May I pledge shares credited to
my plan account?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">No.
You may not pledge shares in your plan account. If you want to pledge these shares, you or your broker may request a transfer of
these shares to a brokerage account by completing the <I>Transaction Request Form</I> attached to your plan account statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What are the responsibilities of
IDACORP and the Plan Administrator under the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Equiniti
Trust Company, as Plan Administrator, is authorized to choose a broker at its sole discretion to facilitate purchases and sales
of common stock by plan participants. The Plan Administrator will furnish the name of the registered broker utilized in share transactions
within a reasonable time upon written request from a participant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We,
the Plan Administrator, and any broker selected by the Plan Administrator to make purchases and sales pursuant to the plan will
not be liable for any act or failure to act done in good faith in administering the plan. This includes, but is not limited to,
any claims of liability relating to:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the failure to terminate your account upon your death prior to receiving written notice of your death;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>the prices at which or the times when common stock is purchased or sold; or</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>any changes in the market value of our common stock.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator acts solely as our agent and owes no duties, fiduciary or otherwise, to any other person by reason of the plan,
and no implied duties, fiduciary or otherwise, shall be read into the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator undertakes to perform only the duties that are described in this prospectus. No implied covenants or obligations
shall be read into the plan with respect to us or the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">In the
absence of negligence or willful misconduct on its part, the Plan Administrator, whether acting directly or through agents or attorneys,
shall not be liable for any action taken, suffered or omitted or for any error of business judgment it made in performing its duties
under the plan, and the Plan Administrator shall never be liable for any special, indirect or consequential loss or damage of any
kind whatsoever, including lost profits. This is so even if the Plan Administrator has been advised of the likelihood of such loss
or damage and regardless of the form of action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator shall not be required to and shall make no representations and have no responsibilities as to the validity,
accuracy, value or genuineness of any signatures or endorsements, other than its own. Also, the Plan Administrator shall not be
obligated to take any legal action under the plan that might, in its judgment, involve any expense or liability, unless it has
been furnished with reasonable indemnity.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">The
Plan Administrator shall not be responsible or liable for any failure or delay in the performance of its obligations under the
plan arising out of or caused, directly or indirectly, by circumstances beyond its reasonable control, including</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>acts of God, such as earthquakes, fires or floods;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>wars and civil or military disturbances;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>sabotage;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>epidemics;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>riots;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>interruptions, loss or malfunctions of utilities;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>computer, hardware or software, or communications services;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>accidents;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>labor disputes; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>acts of civil or military authority or governmental actions.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -0.05pt; color: #231F20">However, the Plan Administrator
shall use reasonable efforts which are consistent with accepted practices in the stock investment plan industry to resume performance
as soon as administratively possible under the circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: -0.05pt; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">This
immunity does not relieve us or the Plan Administrator of any liability for violations of applicable laws, including without limitation,
federal securities laws. We and the Plan Administrator cannot assure you of a profit or protect you against a loss on shares purchased
under the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
IDACORP common stock is not insured by the FDIC or any other government agency, are not deposits or other obligations of, and are
not guaranteed by, EQ Shareowners Services or IDACORP, and are subject to investment risks, including possible loss of principal
amount invested. Common stock held in the plan are not subject to protection under the Securities Investor Protection Act of 1970.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Who interprets and regulates the
plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Our board of directors interprets and regulates
the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Can IDACORP change or terminate
the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We may
change the terms of the plan, including any fees, or terminate the plan at any time. We will notify you of any material changes
to the plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20"><A NAME="a025_v1"></A>U.S. Federal Income Tax Information</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">What are the principal U.S. federal
income tax consequences of my participation in the plan?</P>

<P STYLE="font: italic bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
following is a brief summary of some of the principal U.S. federal income tax consequences of your participation in the plan. It
is for general information only and is not intended to be a complete summary of all aspects of U.S. federal income taxation that
may be important to you, and does not constitute tax advice. The following summary is based upon existing tax laws, regulations
and rulings on the date of this prospectus. You should consult with your own tax advisor regarding the specific tax consequences
to you under applicable federal, state, local and foreign tax laws and the impact of any changes in applicable tax laws, which
may have retroactive effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Initial
Investment and Optional Cash Payments:</I> In general, a participant who makes an initial investment under the plan will not realize
gain or loss for U.S. federal income tax purposes as a result of the purchase of shares pursuant to such initial investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Tax
Basis and Holding Period of Shares:</I> Your tax basis in the shares purchased under the plan will be equal to the amount treated
as a distribution to you, less the amount of any taxes withheld as discussed below. The Internal Revenue Service, pursuant to Treasury
Regulations on broker reporting of sales of securities and on the cost basis of securities, requires administrators of dividend
reinvestment plans to retain and accurately report cost basis information to shareholders and to the Internal Revenue Service.
You should consult your own tax advisors regarding the elections that are appropriate for you. Your holding period for shares of
common stock acquired pursuant to the plan will begin on the day following the date the shares are credited to your plan account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Dividend
Income:</I> If your reinvested dividends are used to purchase authorized but unissued shares or treasury shares of common stock
from us, you will be treated for U.S. federal income tax purposes as having received a distribution in an amount equal to the fair
market value of the number of shares, including fractional shares, of common stock purchased with the reinvested dividends on the
dividend payment date.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If your
reinvested dividends are used to purchase shares of common stock on the open market or through negotiated transactions, you will
be treated for U.S. federal income tax purposes as having received a distribution in an amount equal to the amount of dividends
used to purchase shares of common stock and to pay any brokerage fees or other expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Amounts
treated as distributions will be treated as dividend income to you to the extent of our current and accumulated earnings and
profits, as determined for U.S. federal income tax purposes. Subject to holding-period requirements and certain other
limitations, dividends received with respect to our common stock by certain non- corporate common stockholders generally will
be treated as qualified dividend income that is taxable to such stockholder at preferential capital gain tax rates.
Distributions in excess of our earnings and profits will be treated first as a nontaxable return of capital to the extent of
your tax basis in your common stock and thereafter as capital gain. Some corporate stockholders may be entitled to a
dividends received deduction with respect to amounts treated as dividends.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Gains
and Losses from the Sale of Shares: </I>You will realize gain or loss when you sell or exchange shares of common stock held in
your plan account and, in the case of a fractional share, when you receive a cash payment for a fraction of a share of common stock
credited to your plan account &ndash; for example, upon your termination of participation in, or termination of, the plan. The
amount of such gain or loss will be the difference between the amount that you receive for the shares, or fraction of a share,
and your tax basis in the shares, or fraction of a share. Any gain or loss generally will be capital gain or loss, and will be
long-term capital gain or loss if your holding period is greater than one year at the time of the sale or disposition. In the case
of certain non-corporate common stockholders, long-term capital gain generally will be taxable to such stockholder at preferential
capital gain tax rates. The deductibility of capital losses is subject to certain limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Plan Administrator generally will use the first-in, first-out, or &ldquo;FIFO,&rdquo; method when determining the tax basis of
any shares sold. However, you may designate your preference for &ldquo;specific identification&rdquo; cost basis by identifying
this preference in writing to the Plan Administrator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Dividends
Subject to Withholding: </I>Reinvested dividends are subject to U.S. federal backup withholding (currently at a 24% rate) if you
fail to provide a social security or other taxpayer identification number to the Plan Administrator. A foreign person (nonresident
alien individual or foreign entity) is subject to tax withholding at a 30% rate on the gross amount of payments of U.S. source
dividends, unless the beneficial owner of the payment provides the appropriate IRS Form W-8 entitling such owner to a reduced rate
of, or exemption from, withholding tax under an income tax treaty. Foreign entity owned accounts may also be subject to withholding
at a 30% rate on all applicable U.S. sourced dividends, as required by the Foreign Account Tax Compliance Act of the U.S. Internal
Revenue Code (&ldquo;FATCA&rdquo;). Subject to the proposed Treasury regulations discussed below, gross proceeds received from
the sale or other disposition of stock that can produce U.S. sourced dividends generally will also be subject to potential FATCA
withholding. Proposed Treasury regulations eliminate withholding under FATCA on payments of gross proceeds. Taxpayers may rely
on these proposed Treasury regulations until final Treasury regulations are issued, but such Treasury regulations are subject to
change. Foreign persons should consult with their tax advisors or counsel as to which tax certification form they are required
to provide and for more specific information regarding the withholding requirements under Chapters 3 and 4 (FATCA).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"><I>Medicare
Tax on Net Investment Income: </I>Certain non-corporation common stockholders will be subject to a 3.8% Medicare tax on, among
other things, dividends on and capital gains from the sale or other disposition of stock, subject to certain exceptions. Non-corporate
common stockholders should consult with their tax advisors or counsel regarding the effect, if any, of this tax on their ownership
and disposition of our common shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a026_v1"></A>DIRECT REGISTRATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We are
a participant in the direct registration system. Direct registration is a method of recording stock ownership in book-entry form,
which allows stock to be owned, reported and transferred electronically without issuing a physical certificate. Book-entry means
that your stock is registered in your name on our books without the need for physical stock certificates. Your uncertificated stock
has the same rights and privileges as stock evidenced by a physical certificate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; color: #231F20">Direct registration is a free service that:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>eliminates the risk and cost associated with keeping physical stock certificates;</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>eliminates the time and expense associated with replacing lost, stolen or destroyed stock certificates; and</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; color: #231F20"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in">&#9679;</TD><TD>allows you to move shares electronically to a broker or to other registered accounts.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">If you
hold stock through our direct registration system, Equiniti Trust Company d/b/a EQ Shareowner Services, our transfer agent, Plan
Administrator and registrar, will establish and maintain your direct registration account and provide you with a direct registration
statement of ownership reflecting the number of shares of stock registered in your name on our books. EQ Shareowner Services will
send you a new statement of ownership each time there is activity in your account. Once you begin participation in our direct registration
system, any future transactions will be handled through the direct registration system rather than with physical certificates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
may send any stock certificates you are currently holding for conversion into our direct registration system by sending the stock
certificates to EQ Shareowner Services with a request to deposit them into your direct registration account. There is no cost to
you for this custodial service. Your certificates should not be endorsed, and we recommend sending your certificates by registered
mail, insuring them for 4% of the current market value. See &ldquo;Deposit of Certificates&rdquo; above for information on optional
mail loss insurance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Under
the plan, you may sell your direct registration shares through EQ Shareowner Services, subject to a transaction fee and a commission.
See &ldquo;Expenses to Participants&rdquo; in this prospectus. You may also sell your direct registration shares by electronically
transferring the shares to your bank or broker and selling the shares through your bank or broker. You may move electronically
all or a portion of your direct registration shares to your bank or broker at any time. To do so, provide your bank or broker with
a copy of your direct registration account statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Your
direct registration account is separate from your dividend reinvestment plan account. You may deposit your common stock certificates
in either your direct registration account or your dividend reinvestment plan account.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a027_v1"></A>USE OF PROCEEDS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Unless
shares of common stock are purchased directly from us, we will receive no proceeds from the offering of common stock under the
plan. We do not know the number of shares of common stock that will ultimately be sold pursuant to the plan, the prices at which
such shares will be sold, or the number of shares, if any, that will be purchased directly from us, and therefore, cannot estimate
the amount of proceeds to be received from any purchase of such shares. When we instruct the Plan Administrator to use original
issue common stock for the plan, we will use the proceeds for general corporate purposes, including investing in, or making loans
to, our subsidiaries, repaying indebtedness, and paying for acquisitions. If we receive proceeds from the offering of common stock
under the plan but do not use the proceeds immediately, we may temporarily invest them in short-term instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a028_v1"></A>DIVIDEND POLICY</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">It
is generally our practice to pay dividends on our common shares on the last day of February and the 30th day of May, August and
November. We cannot give you any assurance as to the amount of future dividends. The amount and timing of dividends payable on
our common stock are within the sole discretion of our board of directors. The board of directors reviews the dividend rate periodically
to determine its appropriateness in light of our current and long-term financial position and results of operations, capital requirements,
rating agency requirements, legislative and regulatory developments affecting the electric utility industry in general and Idaho
Power Company in particular, competitive conditions and any other factors the board deems relevant.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">Since
we are a holding company, substantially all of our cash flow is provided by dividends paid to us by our</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">subsidiaries, most notably
Idaho Power Company. Since Idaho Power Company is a public utility, it is subject to regulation by state utility commissions and
other regulatory agencies, which impose limits on investment returns or otherwise impact the amount of dividends that Idaho Power
Company may declare and pay, and to a federal statutory limitation on the payment of dividends. In addition, certain agreements
entered into by Idaho Power Company set restrictions on the amount of dividends it may declare and pay and restrict the circumstances
under which such dividends may be declared and paid. Further, Idaho Power Company&rsquo;s credit facility requires it to maintain
specified leverage ratios of consolidated indebtedness to consolidated total capitalization. The specific restrictions on dividends
contained in agreements to which Idaho Power Company is a party, as well as specific regulatory limitations on dividends, are described
in our Forms 10-K and 10-Q filed with the Securities and Exchange Commission, which are incorporated by reference into this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a029_v1"></A>INCORPORATION OF CERTAIN
INFORMATION BY REFERENCE</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
Securities and Exchange Commission allows us to incorporate by reference information into this prospectus, which means that we
can disclose important information to you by referring you to other documents filed separately with the Securities and Exchange
Commission. The information incorporated by reference is considered to be part of this prospectus. We incorporate by reference
the following documents that we filed with the Securities and Exchange Commission (SEC file number 1-14465):</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="color: #231F20"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000040/ida12311910k.htm" STYLE="-sec-extract: exhibit">Annual Report on Form 10-K for the year ended December 31, 2019, filed
on February 20, 2020;</A></FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000132/formdef14a-proxystatementn.htm" STYLE="-sec-extract: exhibit">The information specifically incorporated by reference into our Annual Report on Form 10-K from
our Definitive Proxy Statement on Schedule 14A, filed with the SEC on April
7, 2020</A>.</TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt; color: #231F20">Quarterly Reports on Form 10-Q for the quarters ended
<A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000138/ida3312010q.htm" STYLE="-sec-extract: exhibit">March 31, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000155/ida6302010q.htm" STYLE="-sec-extract: exhibit">June 30, 2020</A> and <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000183/ida-20200930.htm" STYLE="-sec-extract: exhibit">September 30, 2020</A>, filed on</FONT> <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000138/ida3312010q.htm" STYLE="-sec-extract: exhibit">April
30, 2020</A></FONT>, <FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000155/ida6302010q.htm" STYLE="-sec-extract: exhibit">July
30, 2020</A></FONT> <FONT STYLE="font-size: 10pt; color: #231F20">and <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000183/ida-20200930.htm" STYLE="-sec-extract: exhibit">October 29, 2020</A>, respectively;</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Current Reports on Form 8-K filed on <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000033/form8-kxfebruary132020.htm" STYLE="-sec-extract: exhibit">February
13, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000119312520094710/d909613d8k.htm" STYLE="-sec-extract: exhibit">April
1, 2020</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000142/form8-kxmay262020.htm" STYLE="-sec-extract: exhibit">May
26, 2020</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000168/form8-kxseptember2020b.htm" STYLE="-sec-extract: exhibit">September 17, 2020</A>; and</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/000105787720000040/ida123119ex410.htm" STYLE="-sec-extract: exhibit">Description of our common stock contained in Exhibit
4.10 of our Annual Report on Form 10-K for the year ended December 31, 2019, and any amendment
or report filed for the purpose of updating such description</A>.</FONT></TD></TR></TABLE>

<P STYLE="margin-top: 0pt; margin-bottom: 0pt; font: 10pt Times New Roman, Times, Serif">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We also
incorporate by reference all documents we subsequently file pursuant to Sections 13(a), 13(c), 14 or 15(d) of the Securities Exchange
Act of 1934, after the date of this prospectus, and before we terminate the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">We
are not incorporating by reference any documents or portions of documents that are not deemed filed with the Securities and Exchange
Commission, including any information furnished pursuant to Items 2.02 or 7.01 of Form 8-K. Any statement contained in a document
incorporated or deemed to be incorporated by reference in or deemed to be part of the prospectus shall be deemed to be modified
or superseded for purposes of the prospectus to the extent that a statement contained in any other subsequently filed document
which also is or is deemed to be incorporated by reference or deemed to be part of the prospectus modifies or replaces such statement.
Any statement contained in a document that is deemed to be incorporated by reference or deemed to be part of the prospectus after
the most recent effective date may modify or replace existing statements contained in the prospectus. Any such statement so modified
shall not be deemed in its unmodified form to constitute a part of the prospectus for purposes of the Securities Act of 1933. Any
statement so superseded shall not be deemed to constitute a part of the prospectus for purposes of the Securities Act of 1933.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 19.95pt; color: #231F20">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We will
provide to each person, including any beneficial owner, to whom this prospectus is delivered, a copy of any or all of the information
that has been incorporated by reference in this prospectus but not delivered with this prospectus. You may obtain a copy of this
information at no cost, by written or oral request to us at the following address:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">Shareowner Services</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">IDACORP,
Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">1221 W. Idaho Street</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">Boise,
ID 83702</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">Telephone (208) 388-2200</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; color: #231F20">You may also access these
documents at our website at www.idacorpinc.com.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">You
should rely only on information contained or incorporated by reference in this prospectus and any prospectus supplement. We have
not authorized any other person to provide you with different information. If anyone provides you with different or inconsistent
information, you should not rely on it. We are not making an offer to sell these securities in any jurisdiction where the offer
or sale is not permitted.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
information contained in or incorporated by reference in this prospectus is accurate only as of the date of the respective documents
in which the information is contained. Our business, financial condition, results of operations and prospects may have changed
since those dates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a030_v1"></A>WHERE YOU CAN FIND
MORE INFORMATION</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">We file
annual, quarterly and current reports, proxy statements and other information with the Securities and Exchange Commission. Our
SEC filings are available to the public over the Internet at the SEC&rsquo;s website at www.sec.gov. Information about us is also
available at our website at www.idacorpinc.com. However, the information accessible on
or through our website is not a part of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">This prospectus is part
of a registration statement that we filed with the SEC. Other documents establishing the terms of the offered securities are or
may be filed as exhibits to the registration statement or documents incorporated by reference in the registration statement. Statements
in this prospectus about these documents are summaries and each statement is qualified in all respects by reference to the document
to which it refers. You should refer to the actual documents for a more complete description of the relevant matters. You may inspect
a copy of the registration statement through the SEC&rsquo;s website, as provided above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a031_v1"></A>LEGAL MATTERS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; color: #231F20; text-indent: 0.25in">The legality of the common
stock of IDACORP offered hereby has been passed upon for IDACORP by Cheryl W. Thompson, Senior Counsel and Deputy Corporate Secretary
of IDACORP. Ms. Thompson owns shares of unvested restricted common stock of IDACORP acquired pursuant to employee benefit plans
and participates in various employee benefit plans offered to employees of IDACORP and Idaho Power Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: -0.05pt; color: #231F20">&nbsp;&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><A NAME="a032_v1"></A>EXPERTS</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">The
financial statements and the related financial statement schedules incorporated in this prospectus by reference from the Company&rsquo;s
Annual Report on Form 10-K for the year ended December 31, 2019, and the effectiveness of the Company&rsquo;s internal control
over financial reporting, have been audited by Deloitte &amp; Touche LLP, an independent registered public accounting firm, as
stated in their reports, which are incorporated herein by reference. Such financial statements and financial statement schedules
have been so incorporated in reliance upon the reports of such firm given upon their authority as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; color: #231F20">With
respect to the unaudited interim financial information for the periods ended March 31, 2019 and 2020, June 30, 2019 and 2020 and
September 30, 2019 and 2020, which is incorporated herein by reference, Deloitte &amp; Touche LLP, an independent registered public
accounting firm, have applied limited procedures in accordance with the standards of the Public Company Accounting Oversight Board
(United States) for a review of such information. However, as stated in their reports included in the Company&rsquo;s Quarterly
Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020 and September 30, 2020 and incorporated by reference
herein, they did not audit and they do not express an opinion on that interim financial information. Accordingly, the degree of
reliance on their reports on such information should be restricted in light of the limited nature of the review procedures applied.
Deloitte &amp; Touche LLP are not subject to the liability provisions of Section 11 of the Securities Act of 1933 for their reports
on the unaudited interim financial information because those reports are not &ldquo;reports&rdquo; or a &ldquo;part&rdquo; of the
registration statement prepared or certified by an accountant within the meaning of Sections 7 and 11 of the Act.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<DIV STYLE="POSITION:RELATIVE;FLOAT:LEFT;WIDTH:48%">


<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 4pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="margin: 0pt 0; text-align: justify">You <FONT STYLE="font-size: 10pt; color: #231F20">should rely only on the information contained or incorporated
by reference in this prospectus and any prospectus supplement we provide. We have not authorized any other person to provide you
with different information. If anyone provides you with different or inconsistent information, you should not rely on it. We are
offering to sell shares of common stock and seeking offers to buy shares of common stock only in states where offers and sales
are permitted. The information contained or incorporated by reference in this prospectus is accurate only as of the date of the
respective documents in which the information is contained. Our business, financial condition, results of operations and prospects
may have changed since those dates.</FONT></P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><B>TABLE OF CONTENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; color: #231F20">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #231F20"><U>Page</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 9.4pt; color: #231F20"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 95%"><FONT STYLE="font-size: 10pt; color: #231F20">About This Prospectus</FONT></TD>
    <TD STYLE="width: 5%; text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Risk Factors</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">1</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Cautionary Note Regarding Forward-Looking Statements</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">3</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">About IDACORP</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">5</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">The Plan</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Purpose of the Plan</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Eligibility</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Advantages and Disadvantages</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">6</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Administration</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">7</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Account Forms</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">8</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Enrollment</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">9</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Dividend Reinvestment</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">10</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Optional Cash Payments</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">11</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Changing Your Investment Options</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Investment Period &ndash; Source of Shares &ndash; Purchase Price</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">12</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Expenses to Participants</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Deposit of Certificates</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">14</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Share Transfers and Gifts</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">15</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Selling and Withdrawing Shares</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">16</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Termination of Participation</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Certificates for Shares &ndash; Accounts</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">18</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Account Access</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">19</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Account Statements</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">Other Information</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">20</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 0.25in"><FONT STYLE="font-size: 10pt; color: #231F20">U.S. Federal Income Tax Information</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">22</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Direct Registration</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">23</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Use of Proceeds</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Dividend Policy</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">24</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Incorporation of Certain Information by Reference</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">25</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Where You Can Find More Information</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Legal Matters</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">26</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-size: 10pt; color: #231F20">Experts</FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt; color: #231F20">26</FONT></TD></TR>
</TABLE>

</div>
<DIV STYLE="POSITION:RELATIVE;FLOAT:RIGHT;WIDTH:48%">



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><IMG SRC="a201607002_v1.jpg" ALT="(GRAPHIC)">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; color: #231F20">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20"><FONT STYLE="font-size: 12pt"><B>D</B></FONT><B><FONT STYLE="font-size: 10pt">IVIDEND
</FONT><FONT STYLE="font-size: 12pt">R</FONT><FONT STYLE="font-size: 10pt">EINVESTMENT <BR>
AND </FONT><FONT STYLE="font-size: 12pt">S</FONT><FONT STYLE="font-size: 10pt">TOCK
</FONT><FONT STYLE="font-size: 12pt">P</FONT><FONT STYLE="font-size: 10pt">URCHASE </FONT><FONT STYLE="font-size: 12pt">P</FONT><FONT STYLE="font-size: 10pt">LAN</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">Common Stock</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20">(No par value)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt; color: #231F20">CUSIP No.
451107106</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 17.5pt; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: #231F20">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">November 13,
2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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</div>
<BR CLEAR="ALL">

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; color: Red"><IMG SRC="a201607003_v1.jpg" ALT="(GRAPHIC)">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; text-transform: uppercase"><B>Dividend
Reinvestment</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 12pt; text-transform: uppercase"><B>and
Stock Purchase Plan</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;<B>Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(No par value)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CUSIP No. 451107106</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">November 13, 2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<!-- Field: Page; Sequence: 30 -->
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    <DIV STYLE="page-break-before: always; margin-top: 6pt; margin-bottom: 6pt"><P STYLE="margin: 0pt">&nbsp;</P></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PART&nbsp;II</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION NOT REQUIRED IN PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 14.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Other Expenses of Issuance and Distribution.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The table below sets forth the estimated
expenses in connection with the offering described in this Registration Statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 10pt Times New Roman, Times, Serif; width: 90%; border-collapse: collapse">
<TR STYLE="background-color: rgb(214,243,232)">
    <TD STYLE="vertical-align: top; width: 82%"><FONT STYLE="font-size: 10pt">Registration fee</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 2%">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; width: 2%; text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 9%; text-align: right"><FONT STYLE="font-size: 10pt">2,660</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 5%">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Accountants&rsquo; fees</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">12,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(214,243,232)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Printing fees</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">5,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Legal fees</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">20,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(214,243,232)">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Transfer agent&rsquo;s fees</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; text-align: right"><FONT STYLE="font-size: 10pt">30,000</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD></TR>
<TR STYLE="background-color: White">
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Other</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: right"><FONT STYLE="font-size: 10pt">5,000</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR STYLE="background-color: rgb(214,243,232)">
    <TD STYLE="vertical-align: top; padding-left: 0.125in"><FONT STYLE="font-size: 10pt">Total</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">$</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-bottom: Black 2.25pt double; text-align: right"><FONT STYLE="font-size: 10pt">74,660</FONT></TD>
    <TD STYLE="vertical-align: bottom; border-bottom: Black 2.25pt double">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 15.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Indemnification of Directors and Officers.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Sections 30-29-851 <I>et seq</I>. of the
Idaho Business Corporations Act provide for indemnification of our directors and officers in a variety of circumstances, which
may include liabilities under the Securities Act of 1933, as amended.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Article&nbsp;VIII of our Articles of Incorporation,
as amended, provides that we shall indemnify our directors and officers against liability and expenses and shall advance expenses
to our directors and officers in connection with any proceeding to the fullest extent permitted by the Act as now in effect or
as it may be amended or substituted from time to time.&nbsp;Article&nbsp;VI of our Amended Bylaws provides that we shall have the
power to purchase insurance on behalf of any director, officer, employee or agent against liability and expenses in connection
with any proceeding, to the extent permitted under applicable law.&nbsp;Article&nbsp;VI further provides that we may enter into
indemnification agreements with any director, officer, employee or agent to the extent permitted under any applicable law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to underwriting agreements filed
or to be filed as exhibits to the registration statement relating to underwritten offerings of securities, the underwriters may
agree to indemnify each of our officers and directors and each person, if any, who controls us within the meaning of the Securities
Act of 1933, against certain liabilities, including liabilities under said Act and to provide contribution in circumstances where
indemnification is unavailable.&nbsp; Agency agreements may contain similar agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We have liability insurance protecting our
directors and officers against liability by reason of their being or having been directors or officers. The premium, payable solely
by us, is not separately allocable to the sale of the securities registered hereby.&nbsp;In addition, we have entered into indemnification
agreements with our directors and officers to provide for indemnification to the maximum extent permitted by law. See &ldquo;Item&nbsp;17.
Undertakings&rdquo; for a description of the Securities and Exchange Commission&rsquo;s position regarding such indemnification
provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 16.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Exhibits.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The information required by this Item is set forth in the Exhibit
Index below.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>EXHIBIT INDEX</B>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; border: Black 1pt solid; padding-right: 0; padding-left: 5.4pt">&nbsp;</TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0; padding-left: 5.4pt">&nbsp;</TD>
    <TD COLSPAN="4" STYLE="vertical-align: bottom; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0; padding-left: 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt"><B>Incorporated by Reference</B></FONT></TD>
    <TD STYLE="vertical-align: top; border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 0; padding-left: 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 7%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 37%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Exhibit Description</B></FONT></TD>
    <TD STYLE="width: 16%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Form</B></FONT></TD>
    <TD STYLE="width: 13%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>File No.</B></FONT></TD>
    <TD STYLE="width: 7%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Exhibit No.</B></FONT></TD>
    <TD STYLE="width: 12%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Date</B></FONT></TD>
    <TD STYLE="width: 8%; border-bottom: Black 1pt solid; border-right: Black 1pt solid; padding-right: 0; padding-left: 5.4pt"><FONT STYLE="font-size: 10pt"><B>Included Herewith</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0001047469-98-010059.txt">2</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0001047469-98-010059.txt"><FONT STYLE="font-size: 10pt">Agreement and Plan of Exchange between IDACORP,&nbsp;Inc. and Idaho Power Company, dated as of February&nbsp;2, 1998</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">S-4</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">333-48031</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3/16/1998</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0001047469-98-039192.txt">4.1</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0001047469-98-039192.txt"><FONT STYLE="font-size: 10pt">Articles of Incorporation of IDACORP,&nbsp;Inc.</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">Am. No. 1 to S-3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">333-64737</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3.1</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">11/4/1998</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0001047469-98-039192.txt">4.2</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0001047469-98-039192.txt"><FONT STYLE="font-size: 10pt">Articles of Amendment to Articles of Incorporation of IDACORP,&nbsp;Inc., as filed with the Secretary of State of Idaho on March&nbsp;9, 1998</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">Am. No. 1 to S-3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">333-64737</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3.2</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">11/4/1998</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0000898080-98-000216.txt">4.3</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0000898080-98-000216.txt"><FONT STYLE="font-size: 10pt">Articles of Amendment to Articles of Incorporation of IDACORP,&nbsp;Inc. creating A&nbsp;Series&nbsp;Preferred Stock, without par value, as filed with the Secretary of State of Idaho on September&nbsp;17, 1998</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">Post-Effective Am. No.1 to S-3</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">333-00139-99</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3(b)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">9/22/1998</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0000898080-98-000238.txt">4.4</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/1057877/0000898080-98-000238.txt"><FONT STYLE="font-size: 10pt">Articles of Share Exchange of IDACORP,&nbsp;Inc. as filed with the Secretary of State of Idaho on September&nbsp;29, 1998</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">Post-Effective Am. No. 1 to S-8</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">33-56071-99</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3(d)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">10/1/1998</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/49648/000105787712000124/exhibit313-idacorparticles.htm">4.5</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/49648/000105787712000124/exhibit313-idacorparticles.htm"><FONT STYLE="font-size: 10pt">Articles of Amendment to the Articles of Incorporation of IDACORP,&nbsp;Inc., as amended, as filed with the Secretary of State of Idaho on May 17, 2012</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">8-K</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">1-14465</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3.13</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">5/21/2012</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="http://www.sec.gov/Archives/edgar/data/49648/000105787714000176/exhibit315-amendedandresta.htm">4.6</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><A HREF="http://www.sec.gov/Archives/edgar/data/49648/000105787714000176/exhibit315-amendedandresta.htm"><FONT STYLE="font-size: 10pt">Amended and Restated Bylaws of IDACORP,&nbsp;Inc., amended on October 29, 2014 and presently in effect</FONT></A></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">10-Q</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">1-14465</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">3.15</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">10/30/2014</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex5-1.htm">5.1</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex5-1.htm">Opinion of Cheryl W. Thompson, Senior Counsel and Deputy Corporate Secretary, IDACORP, Inc.</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex15-1.htm">15</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex15-1.htm">Letter from Deloitte&nbsp;&amp; Touche LLP regarding unaudited interim financial information</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex23-1.htm">23.1</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex23-1.htm">Consent of Deloitte&nbsp;&amp; Touche LLP</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex5-1.htm">23.2</A></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt"><A HREF="idacorp201607_ex5-1.htm">Consent of Cheryl W. Thompson, Senior Counsel and Deputy Corporate Secretary, IDACORP, Inc. (included in Exhibit 5.1 hereto</A>)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">24</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt"><FONT STYLE="font-size: 10pt">Power of Attorney (included on the signature page&nbsp;hereof)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding: 3pt 0 3pt 5.4pt; text-align: center"><FONT STYLE="font-size: 10pt">X</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 17.&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Undertakings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(a)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned registrant hereby undertakes:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(1)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To include any prospectus required by section 10(a)(3)&nbsp;of the Securities Act of 1933;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent
post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set
forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if
the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high
end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule&nbsp;424(b)&nbsp;if,
in the aggregate, the changes in volume and price represent no more than a 20% change in the maximum aggregate offering price set
forth in the &ldquo;Calculation of Registration Fee&rdquo; table in the effective registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To include any material information with respect to the plan of distribution not previously disclosed in the registration statement
or any material change to such information in the registration statement;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><I>Provided</I>, <I>however</I>, that paragraphs
(a)(1)(i), (a)(1)(ii)&nbsp;and (a)(1)(iii)&nbsp;above do not apply if the registration statement is on Form&nbsp;S-3 and the information
required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the
Commission by the registrant pursuant to section 13 or section 15(d)&nbsp;of the Securities Exchange Act of 1934 that are incorporated
by reference in the registration statement, or is contained in a form of prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;that
is part of the registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(2)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be
deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that
time shall be deemed to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(3)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at
the termination of the offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(5)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That for the purpose of determining liability under the Securities Act of 1933 to any purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the registrant is relying on Rule&nbsp;430B:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(A)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;Each
prospectus filed by the registrant pursuant to Rule&nbsp;424(b)(3)&nbsp;shall be deemed to be part of the registration statement
as of the date the filed prospectus was deemed part of and included in the registration statement; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">(B)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Each
prospectus required to be filed pursuant to Rule&nbsp;424(b)(2), (b)(5)&nbsp;or (b)(7)&nbsp;as part of a registration statement
in reliance on Rule&nbsp;430B relating to an offering made pursuant to Rule&nbsp;415(a)(1)(i), (vii) or (x)&nbsp;for the purpose
of providing the information required by section 10(a)&nbsp;of the Securities Act of 1933 shall be deemed to be part of and included
in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness or the date
of the first contract of sale of securities in the offering described in the prospectus.&nbsp; As provided in Rule&nbsp;430B, for
liability purposes of the issuer and any person that is at that date an underwriter, such date shall be deemed to be a new effective
date of the registration statement relating to the securities in the registration statement to which that prospectus relates, and
the offering of such securities at that time shall be deemed to be the initial <I>bona fide </I>offering thereof.&nbsp; <I>Provided,
however</I>, that no statement made in a registration statement or prospectus that is part of the registration statement or made
in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the
registration statement will, as to a purchaser with a time of contract of sale prior to</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">such effective date, supersede or modify
any statement that was made in the registration statement or prospectus that was part of the registration statement or made in
any such document immediately prior to such effective date; or</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
If the registrant is subject to Rule&nbsp;430C, each prospectus filed pursuant to Rule&nbsp;424(b)&nbsp;as part of a registration
statement relating to an offering, other than registration statements relying on Rule&nbsp;430B or other than prospectuses filed
in reliance on Rule&nbsp;430A, shall be deemed to be part of and included in the registration statement as of the date it is first
used after effectiveness.&nbsp; <I>Provided, however</I>, that no statement made in a registration statement or prospectus that
is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration
statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior
to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of
the registration statement or made in any such document immediately prior to such date of first use.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">(6)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
That, for the purpose of determining liability of the registrant under the Securities Act of 1933 to any purchaser in the initial
distribution of securities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">The undersigned registrant undertakes that
in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the underwriting
method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of
the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell
such securities to such purchaser:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(i)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to
Rule&nbsp;424;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(ii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred
to by the undersigned registrant;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(iii)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The portion of any other free writing prospectus relating to the offering containing material information about the undersigned
registrant or its securities provided by or on behalf of the undersigned registrant; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">(iv)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 1.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(b)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
The undersigned registrant hereby undertakes that, for purposes of determining any liability under the Securities Act of 1933,
each filing of the registrant&rsquo;s annual report pursuant to section 13(a)&nbsp;or section 15(d)&nbsp;of the Securities Exchange
Act of 1934 (and, where applicable, each filing of an employee benefit plan&rsquo;s annual report pursuant to section 15(d)&nbsp;of
the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed
to be the initial <I>bona fide</I> offering thereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(h)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and
controlling persons of the registrant pursuant to the foregoing provisions, or otherwise, the registrant has been advised that
in the opinion of the Securities and Exchange Commission such indemnification is against public policy as expressed in the Act
and is, therefore, unenforceable.&nbsp; In the event that a claim for indemnification against such liabilities (other than the
payment by the registrant of expenses incurred or paid by a director, officer or controlling person of the registrant in the successful
defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities
being registered, the registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed
in the Act and will be governed by the final adjudication of such issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>POWER OF ATTORNEY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Each person whose signature appears below
hereby constitutes and appoints Lisa A. Grow, Steven R. Keen, and Kenneth W. Petersen as his or her true and lawful attorney-in-fact
and agent, with full power of substitution, for him or her and in his or her name, place and stead, in any and all capacities,
to sign any and all supplements and amendments (including post-effective amendments and registration statements filed pursuant
to Rule 462(b) of the Securities Act) to this registration statement, and to file the same, with all exhibits thereto, and other
documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents
full power and authority to do and perform each and every act and thing requisite and necessary to be done in connection therewith,
as fully to all intents and purposes as he or she might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact
and agents, or their substitutes, shall do or cause to be done by virtue hereof.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing
on Form&nbsp;S-3 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly
authorized, in the City of Boise, State of Idaho, on the  13<sup>th</SUP> day of November, 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3"><FONT STYLE="font-size: 10pt">IDACORP,&nbsp;INC.</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD COLSPAN="3">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 52%">&nbsp;</TD>
    <TD STYLE="width: 3%"><FONT STYLE="font-size: 10pt">By:</FONT></TD>
    <TD STYLE="width: 40%; border-bottom: Black 1pt solid">/s/Lisa A. Grow</TD>
    <TD STYLE="width: 5%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">Lisa A. Grow</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD>&nbsp;</TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer</FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">Pursuant to the requirements of the Securities
Act of 1933, this registration statement has been signed by the following persons in the capacities and on the dates indicated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 38.5pt">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 30%"><FONT STYLE="font-size: 10pt"><B><U>Signature</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 39%"><FONT STYLE="font-size: 10pt"><B><U>Title</U></B></FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 25%"><FONT STYLE="font-size: 10pt"><B><U>Date</U></B></FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Richard J. Dahl</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Chairman of the Board</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November&nbsp;13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Richard J. Dahl)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Lisa A. Grow</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">President and Chief Executive Officer </FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November&nbsp;13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Lisa A. Grow)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">and Director (Principal Executive Officer)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: bottom; border-bottom: Black 1pt solid">/s/Steven R. Keen</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Senior Vice President and Chief Financial Officer (Principal Financial Officer)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November&nbsp;13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Steven R. Keen)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: bottom; border-bottom: Black 1pt solid">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">/s/Kenneth W. Petersen</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Vice President, Chief Accounting Officer and Treasurer (Principal Accounting Officer)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November&nbsp;13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Kenneth W. Petersen)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="text-align: left; vertical-align: bottom; border-bottom: Black 1pt solid">
        /s/Darrel T. Anderson<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">November&nbsp;13, 2020&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Darrel T. Anderson)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Odette C. Bolano</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November&nbsp;13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Odette C. Bolano)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Thomas E. Carlile</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Director&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">November&nbsp;13, 2020&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Thomas E. Carlile)&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid; width: 30%">/s/Annette G. Elg</TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 39%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom; width: 3%">&nbsp;</TD>
    <TD STYLE="vertical-align: top; width: 25%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">November 13, 2020&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(Annette G. Elg)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Ronald W. Jibson</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">Director&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">November 13, 2020&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Ronald W. Jibson)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Judith A. Johansen</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November 13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Judith A. Johansen)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid"> /s/Dennis L. Johnson</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">November 13, 2020&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Dennis L. Johnson)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">
        /s/Christine King<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Director&nbsp;</P></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">November 13, 2020&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Christine King)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top; border-bottom: Black 1pt solid">/s/Richard J. Navarro</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">Director</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">November 13, 2020</FONT></TD></TR>
<TR>
    <TD STYLE="vertical-align: top"><FONT STYLE="font-size: 10pt">(Richard J. Navarro)</FONT></TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD>
    <TD STYLE="vertical-align: bottom">&nbsp;</TD>
    <TD STYLE="vertical-align: top">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DOCUMENT>
<TYPE>EX-5.1
<SEQUENCE>2
<FILENAME>idacorp201607_ex5-1.htm
<DESCRIPTION>OPINION OF CHERYL W. THOMPSON
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="margin: 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Exhibit 5.1</B></FONT></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Sans-Serif; margin: 0pt 0; text-align: right"><IMG SRC="a173042004_v1.jpg" ALT="(IDACORP LOGO)"></P>

<P STYLE="font: 10pt Sans-Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">November 13, 2020</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">IDACORP, Inc.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">1221 West Idaho Street</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">Boise, Idaho 83702-5627</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">Ladies and Gentlemen:</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">I am Senior Counsel and Deputy Corporate Secretary of IDACORP, Inc., an Idaho corporation (the "Company"), and am acting as counsel to the Company in connection with the preparation and filing of an automatic shelf registration statement on Form S-3 (the "Registration Statement"), which the Company proposes to file on or about the date hereof with the Securities and Exchange Commission (the "Commission") under the Securities Act of 1933, as amended (the "Securities Act"), relating to the issuance and sale by the Company of 500,000 shares of its common stock, without par value (the "Common Stock"), pursuant to the IDACORP, Inc. Dividend Reinvestment and Stock Purchase Plan (the "Plan").</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">For purposes of this opinion, I have examined originals or copies, certified or otherwise identified to my satisfaction, of (i) the Registration Statement; (ii) the Articles of Incorporation, as amended, and Amended and Restated Bylaws of the Company; (iii) resolutions adopted by the Board of Directors of the Company relating to the Registration Statement and the issuance and sale of the Common Stock pursuant to the Plan, and (iv) such other instruments, certificates, records and documents, and such matters of law, as I have considered necessary or appropriate for the purposes hereof (items (i) through (iv) above collectively, the "Transaction Documents"). In such examination, I have assumed the genuineness of all signatures, the authenticity of all documents submitted to me as originals, the conformity to the original documents of all documents submitted to me as copies, and the authenticity of the originals of such latter documents. As to any facts material to my opinion, I have, when relevant facts were not independently established, relied upon the Transaction Documents. For purposes of this opinion, I also assume that the Company will have obtained any legally required consents, approvals, authorizations, and other orders of any regulatory authorities necessary to issue and sell the Common Stock pursuant to the Plan.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">Based upon and subject to the foregoing, and subject to the further qualifications and limitations expressed below, I am of the opinion that the shares of the Common Stock that may be issued pursuant to the Plan will be validly issued, fully paid, and non-assessable when (i) the Registration Statement shall have become effective under the Securities Act, (ii) such shares of the Common Stock shall have been issued, sold, and delivered pursuant to the terms of the Plan, including the due execution by the Company of any certificates representing such shares and the registration by its registrar of such shares, and (iii) the Company shall have received the consideration for such shares in accordance with the terms of the Plan.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0">My opinions expressed above are limited to the laws of the State of
Idaho and the federal laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">I hereby consent to the filing of this opinion as an exhibit to the Registration Statement and to the references to me, as counsel, contained under the heading "Legal Matters" in said Registration Statement and any amendments thereto and in the prospectus constituting a part thereof. In giving such consent, I do not thereby concede that I am within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder.</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">Very truly yours,</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify"><I>/s/ Cheryl W. Thompson</I></P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">Cheryl W. Thompson</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">Senior Counsel and Deputy Corporate Secretary</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman,serif; margin: 0pt 0; text-align: justify"></P>

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<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>3
<FILENAME>idacorp201607_ex15-1.htm
<DESCRIPTION>LETTER FROM DELOITTE AND TOUCHE LLP
<TEXT>
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<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right"><B>Exhibit 15.1</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: right">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">November 13, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">The Board of Directors and Shareholders of IDACORP, Inc.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">1221 W Idaho Street</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Boise, ID 83702</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">We are aware that our reports dated April 30, 2020, July 30, 2020,
and October 29, 2020, on our review of interim financial information of IDACORP, Inc. and subsidiaries appearing in IDACORP, Inc.&rsquo;s
Quarterly Reports on Form 10-Q for the quarters ended March 31, 2020, June 30, 2020, and September 30, 2020, respectively, are
incorporated by reference in this Registration Statement.</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><I>/s/ DELOITTE &amp; TOUCHE LLP</I></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">Boise, Idaho</P>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>4
<FILENAME>idacorp201607_ex23-1.htm
<DESCRIPTION>CONSENT OF INDEPENDENT REGISTERED ACCOUNTING FIRM
<TEXT>
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<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: right"><B>Exhibit 23.1</B></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&nbsp;</B></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt"><B>CONSENT OF INDEPENDENT REGISTERED ACCOUNTING FIRM</B></P>

<P STYLE="font: 12pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">We consent to the incorporation by reference in this
Registration Statement on Form S-3 of our reports dated February 20, 2020, relating to the financial statements of IDACORP, Inc.
and subsidiaries and the effectiveness of IDACORP, Inc.&rsquo;s internal control over financial reporting, appearing in the Annual
Report on Form 10-K of IDACORP, Inc. for the year ended December 31, 2019. We also consent to the reference to us under the heading
&quot;Experts&quot; in such Registration Statement.</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0 0 8pt">/s/ Deloitte &amp; Touche LLP</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">Boise, Idaho</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">November 13, 2020</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>
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<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>5
<FILENAME>a201607001_v1.jpg
<DESCRIPTION>GRAPHIC
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end
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
