FirstEnergy (FE) 10-Q2007 Q3 Quarterly report

Filed: 31 Oct 07, 12:00am

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New words: advanced, Advisor, airtight, anticompetitive, burden, carbon, Chairman, Citigroup, clear, Code, concrete, consecutive, construed, coolant, cylindrical, discriminatory, embodied, exhaustive, factor, foregoing, host, hybrid, hydroelectric, Instruction, Lehman, Narrative, noncompetitive, officially, OVEC, prejudice, principle, pump, ratably, RECB, reclaim, reinforcing, reopen, retrospective, Scotia, shortly, societal, spinning, spray, storage, strainer, sump, SuperRegion, timeline, uncollectible, unduly, unjust, unlawful, unreasonable, unresolved, upheld, urging, zone

Removed: acceptable, agency, analyzed, CAL, certificate, Column, command, comment, conceptual, Cornerstone, corrective, Cuyahoga, degradation, Degraded, deregulation, docket, electrical, ensuring, Fitch, formal, framework, heightened, immaterial, initiate, licensee, main, manner, marketplace, Matrix, midnight, modified, NOAC, notified, null, obtained, occurred, plaintiff, pleading, preserved, procure, prompt, refiled, removed, serve, stabilization, steam, suffered, suspension, temporary, tolling, trade, vigorously, void, withdraw, withdrawn

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EXHIBIT 12

FIRSTENERGY CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2007		2006
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	1,040,868	$	983,743
Interest and other charges, before reduction for amounts capitalized		593,091		533,356
Provision for income taxes		695,467		624,887
Interest element of rentals charged to income (a)		146,390		170,065

Earnings as defined	$	2,475,816	$	2,312,051

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest expense	$	593,091	$	527,569
Subsidiaries’ preferred stock dividend requirements		-		5,787
Adjustments to subsidiaries’ preferred stock dividends
to state on a pre-income tax basis		-		3,676
Interest element of rentals charged to income (a)		146,390		170,065

Fixed charges as defined	$	739,481	$	707,097

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.35		3.27




____________________


(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined which we believe represents an appropriate interest factor.

EXHIBIT 12

FIRSTENERGY SOLUTIONS CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2007		2006
	(Dollars in Thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	408,684	$	311,956
Interest and other charges, before reduction for amounts capitalized		132,749		140,544
Provision for income taxes		243,736		184,572
Interest element of rentals charged to income (a)		1,092		1,168

Earnings as defined	$	786,261	$	638,240


FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest expense	$	132,749	$	140,544
Interest element of rentals charged to income (a)		1,092		1,168

Fixed charges as defined	$	133,841	$	141,712


CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		5.87		4.50




____________________


(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined which we believe represents an appropriate interest factor.

EXHIBIT 12

OHIO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2007		2006
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	147,862	$	166,536
Interest and other charges, before reduction for amounts capitalized		62,749		60,662
Provision for income taxes		79,074		91,239
Interest element of rentals charged to income (a)		60,370		67,064

Earnings as defined	$	350,055	$	385,501

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest on long-term debt	$	54,493	$	49,280
Other interest expense		8,256		10,914
Subsidiaries’ preferred stock dividend requirements		-		467
Adjustments to subsidiaries’ preferred stock dividends
to state on a pre-income tax basis		-		291
Interest element of rentals charged to income (a)		60,370		67,064

Fixed charges as defined	$	123,119	$	128,016

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.84		3.01




____________________


(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined which we believe represents an appropriate interest factor.

EXHIBIT 12

JERSEY CENTRAL POWER & LIGHT COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2007		2006
	(Dollars in thousands)

EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	163,957	$	153,355
Interest and other charges, before reduction for amounts capitalized		79,467		70,092
Provision for income taxes		118,637		120,506
Interest element of rentals charged to income (a)		6,143		6,635

Earnings as defined	$	368,204	$	350,588

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest on long-term debt	$	65,949	$	56,612
Other interest expense		13,518		13,480
Interest element of rentals charged to income (a)		6,143		6,635

Fixed charges as defined	$	85,610	$	76,727

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		4.30		4.57




____________________


(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined which we believe represents an appropriate interest factor.

EXHIBIT 12

METROPOLITAN EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2007		2006
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	75,797	$	82,981
Interest and other charges, before reduction for amounts capitalized		38,471		35,546
Provision for income taxes		53,145		55,390
Interest element of rentals charged to income (a)		1,509		1,324

Earnings as defined	$	168,922	$	175,241

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest on long-term debt	$	21,032	$	25,987
Other interest expense		17,439		9,559
Interest element of rentals charged to income (a)		1,509		1,324

Fixed charges as defined	$	39,980	$	36,870

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		4.23		4.75




____________________


(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined which we believe represents an appropriate interest factor.

EXHIBIT 12

PENNSYLVANIA ELECTRIC COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2007		2006
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	74,237	$	56,666
Interest and other charges, before reduction for amounts capitalized		38,426		33,974
Provision for income taxes		49,025		39,251
Interest element of rentals charged to income (a)		2,402		2,387

Earnings as defined	$	164,090	$	132,278

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest on long-term debt	$	22,642	$	20,937
Other interest expense		15,783		13,037
Interest element of rentals charged to income (a)		2,402		2,387

Fixed charges as defined	$	40,827	$	36,361

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		4.02		3.64




____________________


(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined interest
element can be determined which we believe represents an appropriate interest factor.

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