FirstEnergy (FE) 10-Q2008 Q3 Quarterly report

Filed: 7 Nov 08, 12:00am

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Legalese
Litigious
Readability	H.S. sophomore Avg

New words: abroad, accessed, accreditation, acknowledged, advocacy, alter, assumption, Avon, awaiting, bilateral, bond, Brattle, brought, Chase, cogeneration, Coincident, copy, Council, deadline, desulfurization, discretionary, dramatically, Earlier, Environment, expansion, expedited, FGD, fleet, flue, Gorge, gradually, highly, history, honor, honored, Hurricane, idle, idled, Ike, indefinitely, Intercontinental, interrelated, JPMorgan, Lake, larger, lender, lending, lessen, member, meter, ministerial, mix, modest, month, movement, mph, mutual, overfunded, overnight, permanently, portability, reborrowed, reconsider, remeasured, repower, reset, revaluation, roughly, safeguard, shortage, shut, Signal, sixty, slower, sooner, sponsored, SREC, startup, stay, stringent, submission, suggested, Suisse, swept, temporary, thirteen, Toronto, turbulent, turmoil, unexpectedly, unprecedented, unrestricted, unspecified, vacatur, vegetation, Wachovia, Waverly, week, wider, windstorm, Written

Removed: calculation, carbon, choice, clarify, contractor, converted, cumulative, declined, eventually, experimental, formula, intended, marketable, match, network, NOPR, percent, prevail, reached, replacing, represented, returned, safety, sought, turbine, unresolved, unused, vote

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					EXHIBIT 12

FIRSTENERGY CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	1,009,655	$	1,040,868
Interest and other charges, before reduction for amounts capitalized
and deferred		564,199		593,091
Provision for income taxes		584,932		695,467
Interest element of rentals charged to income (a)		172,371		146,390

Earnings as defined	$	2,331,157	$	2,475,816

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	564,199	$	593,091
Interest element of rentals charged to income (a)		172,371		146,390

Fixed charges as defined	$	736,570	$	739,481

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.16		3.35







(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

	Nine Months Ended
	September 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	165,235	$	147,862
Interest and other charges, before reduction for amounts capitalized
and deferred		51,851		62,749
Provision for income taxes		77,122		79,074
Interest element of rentals charged to income (a)		56,673		60,370

Earnings as defined	$	350,881	$	350,055

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	51,851	$	62,749
Interest element of rentals charged to income (a)		56,673		60,370

Fixed charges as defined	$	108,524	$	123,119

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.23		2.84







(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

THE CLEVELAND ELECTRIC ILLUMINATING COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	217,811	$	211,214
Interest and other charges, before reduction for amounts capitalized
and deferred		94,479		107,430
Provision for income taxes		107,082		131,525
Interest element of rentals charged to income (a)		1,379		28,013

Earnings as defined	$	420,751	$	478,182

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	94,479	$	107,430
Interest element of rentals charged to income (a)		1,379		28,013

Fixed charges as defined	$	95,858	$	135,443

CONSOLIDATED RATIO OF EARNINGS TO FIXED		4.39		3.53
CHARGES






(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

THE TOLEDO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	69,503	$	72,799
Interest and other charges, before reduction for amounts capitalized
and deferred		17,445		25,205
Provision for income taxes		27,614		44,924
Interest element of rentals charged to income (a)		28,121		46,861

Earnings as defined	$	142,683	$	189,789

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	17,445	$	25,205
Interest element of rentals charged to income (a)		28,121		46,861

Fixed charges as defined	$	45,566	$	72,066

CONSOLIDATED RATIO OF EARNINGS TO FIXED		3.13		2.63
CHARGES






(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

JERSEY CENTRAL POWER & LIGHT COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September 30,
	2008		2007
	(Dollars in thousands)

EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	152,788	$	163,957
Interest and other charges, before reduction for amounts capitalized
and deferred		80,306		79,467
Provision for income taxes		115,623		118,637
Interest element of rentals charged to income (a)		5,951		6,143

Earnings as defined	$	354,668	$	368,204

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred		80,306		79,467
Interest element of rentals charged to income (a)		5,951		6,143

Fixed charges as defined	$	86,257	$	85,610

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		4.11		4.30







(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

METROPOLITAN EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Nine Months Ended
	September30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	64,018	$	75,797
Interest and other charges, before reduction for amounts capitalized
and deferred		33,666		38,471
Provision for income taxes		45,866		53,145
Interest element of rentals charged to income (a)		1,521		1,509

Earnings as defined	$	145,071	$	168,922

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred		33,666		38,471
Interest element of rentals charged to income (a)		1,521		1,509

Fixed charges as defined	$	35,187	$	39,980

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		4.12		4.23







(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

	Nine Months Ended
	September 30,
	2008		2007
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	62,357	$	74,237
Interest and other charges, before reduction for amounts capitalized
and deferred		45,157		38,426
Provision for income taxes		39,324		49,025
Interest element of rentals charged to income (a)		2,494		2,402

Earnings as defined	$	149,332	$	164,090

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	45,157	$	38,426
Interest element of rentals charged to income (a)		2,494		2,402

Fixed charges as defined	$	47,651	$	40,828

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.13		4.02







(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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