Pricing Supplement No. 4 Filing under Rule 424(b)(3) Dated December 10, 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 ------------------ Principal amount: $25,000,000 Redeemable: Yes No X --- --- Original Interest Accrual Date: December 10, 1998 Initial Redemption Date: Stated Maturity: December 10, 2008 Initial Redemption Price: Interest Rate: 6.06% Reduction Percentage: Interest Payment Dates: April 1 and October 1 Redemption Limitation Date: Regular Record Dates: March 15 and September 15 Redeemable at Holder's Option: Yes No X --- --- Holder's Option Redemption Date(s): Redemption Price: OID: Yes No X --- --- Total Amount of OID (%): Yield to Maturity (%): Initial Accrual Period OID (%): (Constant - Yield Method) ----------------------------------- Use of Proceeds: To reduce short-term debt. Other Provisions: N/A ----------------------------------- As used herein, "N/A" means "Not Applicable". ----------------------------------- MORGAN STANLEY DEAN WITTER MERRILL LYNCH & CO. SALOMON SMITH BARNEY