FirstEnergy (FE) 10-Q2008 Q2 Quarterly report

Filed: 7 Aug 08, 12:00am

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New words: ACO, aspect, attractive, automotive, bifurcated, Boich, budget, Bull, Calpine, cancellation, covenant, declaratory, description, desire, diesel, drop, enacted, enjoin, exclusive, footnote, Franklin, fully, Gary, good, ground, Homer, indemnification, indemnity, innovative, involuntarily, job, Lakeshore, legislature, Leidich, meantime, merit, MEW, mine, mining, Mission, Montana, Mountain, nondiscriminatory, outlined, payroll, PCAOB, postponed, pretrial, proper, prove, purport, rail, redo, resell, retention, rotor, Roundup, salary, stake, statute, Strickland, subscription, target, tonnage, trimming, unfavorable, unfavorably, unrecoverable, uprate, venture, Verification, Vice, vintage, virtually, waived, waiver, Westside, yielded

Removed: accomplish, achieving, affecting, attributed, bidding, BPJ, buy, check, constituted, contemplate, covered, de, disclaim, driven, Employer, Empresa, escalation, expressly, face, fewer, filer, funded, govern, greater, holder, Identification, inadequately, Incorporation, indemnified, independently, informal, informally, inoperative, intention, lowering, mark, offer, par, personal, practicable, preceding, preliminary, reaching, realize, recommendation, representation, resolving, revision, revocation, RSP, securitization, separately, shell, shorter, solicitation, speed, strategic, structuring, successful, summer, supplement, TEBSA, Telephone, test, typically, Washington, yearly

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			EXHIBIT 12

FIRSTENERGY CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended
	June 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	538,656	$	627,832
Interest and other charges, before reduction for amounts capitalized
and deferred		370,442		389,877
Provision for income taxes		346,666		422,453
Interest element of rentals charged to income (a)		115,624		108,228

Earnings as defined	$	1,371,388	$	1,548,390

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	370,442	$	389,877
Interest element of rentals charged to income (a)		115,624		108,228

Fixed charges as defined	$	486,066	$	498,105

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.82		3.11







(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
interest element can be determined.

			EXHIBIT 12

OHIO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended
	June 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	92,751	$	99,648
Interest and other charges, before reduction for amounts capitalized
and deferred		34,542		42,438
Provision for income taxes		48,621		44,985
Interest element of rentals charged to income (a)		38,066		41,916

Earnings as defined	$	213,980	$	228,987

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	34,542	$	42,438
Interest element of rentals charged to income (a)		38,066		41,916

Fixed charges as defined	$	72,608	$	84,354

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.95		2.71







(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
interest element can be determined.

			EXHIBIT 12

PENNSYLVANIA ELECTRIC COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Six Months Ended
	June 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	39,789	$	51,207
Interest and other charges, before reduction for amounts capitalized
and deferred		30,223		24,409
Provision for income taxes		30,266		38,638
Interest element of rentals charged to income (a)		1,648		1,536

Earnings as defined	$	101,926	$	115,790

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	30,223	$	24,409
Interest element of rentals charged to income (a)		1,648		1,536

Fixed charges as defined	$	31,871	$	25,945

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.20		4.46







(a) Includes the interest element of rentals where determinable plus 1/3 of rental expense where no readily defined
interest element can be determined.

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