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Pricing Supplement No. 1 Filing under Rule 424(b)(3)
Dated June 4, 1998 Registration No. 333-39551
(To Prospectus dated April 22,
1998 as supplemented by the
Prospectus Supplement dated
April 24, 1998)
THE WASHINGTON WATER POWER COMPANY
Medium-Term Notes, Series C
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Principal amount: $20,000,000 Redeemable: Yes No X
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Original Interest Accrual Date: June 4, 1998 Initial Redemption Date: N/A
Stated Maturity: June 5, 2028 Initial Redemption Price: N/A
Interest Rate: 6.88% Reduction Percentage: N/A
Interest Payment Dates: April 1 and October 1 Redemption Limitation Date: N/A
Regular Record Dates: March 15 and September 15
OID: Yes No X
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Total Amount of OID (%):
Yield to Maturity (%):
Initial Accrual
Period OID (%):
(Constant - Yield Method)
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Use of Proceeds: To reduce short-term debt.
Other Provisions: N/A
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As used herein, "N/A" means "Not Applicable".
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MORGAN STANLEY DEAN WITTER
MERRILL LYNCH & CO.
SALOMON SMITH BARNEY