Pricing Supplement No. 2 Dated July 24, 1996 Rule 424(b)(5)
File No. 33-51215
(To Prospectus dated December 8, 1993 and
Prospectus Supplement dated December 17, 1993)
$200,000,000
IDAHO POWER COMPANY
First Mortgage Bonds, Secured Medium-Term Notes, Series B
Due From Nine Months to Forty Years From Date of Issue
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Principal Amount: $15,000,000 Original Issue Date: July 29, 1996
Interest Rate: 6.93% Maturity Date: July 30, 2001
Issue Price: 100% payable in Proceeds to Issuer After
in immediately Commission: 99.50%
available funds
Original Interest
Accrual Date: July 29, 1996
Principal's Commission: .50%
Form: Book-Entry
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Redemption: The Offered Notes cannot be redeemed prior to maturity.
Capacity: Principal
Subject to the terms and conditions set forth in a Terms Agreement, dated
July 24, 1996 between Salomon Brothers Inc (the "Purchaser") and the
Company (the "Terms Agreement"), the Purchaser has agreed to purchase from
the Company, and the Company has agreed to sell to the Purchaser, as
principal, $15,000,000 principal amount of the Offered Notes.
The Purchaser is committed to take and pay for all of the Offered Notes if
any are purchased.
The Purchaser has purchased the Offered Notes as principal in this
transaction and may resell the Offered Notes to one or more investors at
varying prices related to prevailing market conditions at the time or times
of resale as determined by the Purchaser. The Purchaser may allow certain
dealers a concession, and the Purchaser may allow, and such dealers may
reallow, a concession on sales to other dealers. For further information
with respect to the plan of distribution and any discounts, commissions or
profits on resale that may be deemed underwriting discounts or commissions,
see "Plan of Distribution" in the Prospectus Supplement.
Use of Proceeds: The net proceeds from this sale and other sale of
Offered Notes of even date herewith will be used by the
Company to repay a portion of its outstanding short-
term debt.
Principal:
SALOMON BROTHERS INC
