FirstEnergy (FE) 10-Q2009 Q1 Quarterly report

Filed: 7 May 09, 12:00am

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Readability	H.S. sophomore Avg

New words: advantage, Advocate, APB, Atlantic, atmospheric, automated, beating, Belmont, biennial, Bird, breaker, Buckeye, calendar, capacitor, career, ceased, cessation, CFO, chapter, choose, Clark, clock, collaborative, complement, coupled, CTC, deploy, descending, Director, Disease, distressed, downturn, DPA, Edgewater, electronically, eleven, Endangerment, factual, fee, FEV, fifteen, floating, freezing, host, Indiana, infrastructure, intact, Interactive, invalid, Ireland, JP, Keystone, leaving, losing, Marsh, Migratory, modification, moneypool, Morgan, motor, Muise, MWH, Noncurrent, Obama, Oceanview, oil, OPEB, opposition, organizational, owed, pace, Pan, partly, petroleum, point, preserve, prosecution, prudence, pump, RBSFI, recirculation, refinery, Registry, relationship, reopen, reorganization, resale, rescheduled, Resort, retrofit, Retrofitting, Richard, Royal, Scotland, sense, Shawville, slightly, solution, speculative, staffing, staggered, statewide, stationary, store, street, Substance, succeed, temporarily, thereto, threat, threaten, tie, tower, transformer, Treaty, unamortized, uncontested, underfunded, unenforceable, unlawful, vicinity, warrant, weakened, Web, welfare, winning

Removed: acquirer, acquiring, ad, adjustable, affirming, alternate, amend, analyzed, appoint, arguing, ARO, ASM, asserted, assignment, attention, avoid, balancing, bring, broad, build, calculated, Canada, capturing, certify, circulated, closed, closure, Code, commencing, comparable, complex, complied, conditional, consultant, controlled, convened, corroborated, decertification, deconsolidation, defending, denial, departure, derecognition, designation, DFI, disclosing, discontinued, divided, DRA, earned, EIS, EITF, embodied, employ, enter, entitlement, evaluating, evidentiary, exiting, expensed, extend, fact, focused, Force, forecast, Forked, fourth, framework, frequency, FTR, function, fundamental, goodwill, harmful, hear, heard, highest, historic, hoc, hourly, important, independence, inform, inherent, institution, instrument, internally, interpretative, introduce, ISO, Jefferson, jointly, listed, locate, marketplace, Maxim, measure, measuring, medical, merger, milder, modeling, negative, obligated, observation, OCA, operational, organized, OTC, pertinent, phased, picture, pleading, pond, premature, pressure, procedural, prohibited, protect, publication, published, quantification, rabbi, range, readily, realization, reclaim, reclamation, recognizing, recommend, reconsideration, redemption, Register, regularly, relevant, relieved, remand, remanding, repair, repurchased, reserved, residual, reversal, revise, River, Saxton, selection, short, sludge, spinning, standing, storm, substantive, suffer, sustained, tabular, tailored, Task, technique, tolling, tort, trusteed, unadjusted, uncommitted, understand, universal, unobservable, upheld, utilization, view, voluntarily, withdrawal, withdrew, writ

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					EXHIBIT 12

FIRSTENERGY CORP.

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended
	March 31,
	2009		2008
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	118,877	$	276,348
Interest and other charges, before reduction for amounts capitalized
and deferred		195,588		181,066
Provision for income taxes		53,863		187,024
Interest element of rentals charged to income (a)		42,095		58,344

Earnings as defined	$	410,423	$	702,782

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	195,588	$	181,066
Interest element of rentals charged to income (a)		42,095		58,344

Fixed charges as defined	$	237,683	$	239,410

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		1.73		2.94







(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

	Three Months Ended
	March 31,
	2009		2008
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	11,502	$	43,909
Interest and other charges, before reduction for amounts capitalized
and deferred		23,287		17,641
Provision for income taxes		4,005		26,873
Interest element of rentals charged to income (a)		18,028		19,191

Earnings as defined	$	56,822	$	107,614

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	23,287	$	17,641
Interest element of rentals charged to income (a)		18,028		19,191

Fixed charges as defined	$	41,315	$	36,832

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		1.38		2.92







(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

	Three Months Ended
	March 31,
	2009 (b)			2008
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	(105,858	)	$	57,851
Interest and other charges, before reduction for amounts capitalized
and deferred		33,322			32,520
Provision for income taxes		(61,506	)		30,326
Interest element of rentals charged to income (a)		428			474

Earnings as defined	$	(133,614	)	$	121,171

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	33,322		$	32,520
Interest element of rentals charged to income (a)		428			474

Fixed charges as defined	$	33,750		$	32,994

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		(3.96	)		3.67







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

(b) The earnings as defined in 2009 would need to increase $167,364,000 for the fixed charge ratio to be 1.0.

						EXHIBIT 12

THE TOLEDO EDISON COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

	Three Months Ended
	March 31,
	2009			2008
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	990		$	17,015
Interest and other charges, before reduction for amounts capitalized
and deferred		5,533			6,035
Provision for income taxes		(109	)		8,088
Interest element of rentals charged to income (a)		8,915			9,508

Earnings as defined	$	15,329		$	40,646

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	5,533		$	6,035
Interest element of rentals charged to income (a)		8,915			9,508

Fixed charges as defined	$	14,448		$	15,543

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		1.06			2.62







(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

	Three Months Ended
	March 31,
	2009		2008
	(Dollars in thousands)

EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	27,558	$	33,954
Interest and other charges, before reduction for amounts capitalized
and deferred		29,209		26,432
Provision for income taxes		22,551		28,403
Interest element of rentals charged to income (a)		1,943		2,074

Earnings as defined	$	81,261	$	90,863

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	29,209	$	26,432
Interest element of rentals charged to income (a)		1,943		2,074

Fixed charges as defined	$	31,152	$	28,506

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		2.61		3.19







(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

	Three Months Ended
	March 31,
	2009		2008
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	16,622	$	22,235
Interest and other charges, before reduction for amounts capitalized
and deferred		13,359		11,672
Provision for income taxes		11,735		16,675
Interest element of rentals charged to income (a)		507		535

Earnings as defined	$	42,223	$	51,117

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	13,359	$	11,672
Interest element of rentals charged to income (a)		507		535

Fixed charges as defined	$	13,866	$	12,207

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.05		4.19







(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

	Three Months Ended
	March 31,
	2009		2008
	(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items	$	18,690	$	21,392
Interest and other charges, before reduction for amounts capitalized
and deferred		13,233		15,322
Provision for income taxes		13,122		18,279
Interest element of rentals charged to income (a)		729		904

Earnings as defined	$	45,774	$	55,897

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred	$	13,233	$	15,322
Interest element of rentals charged to income (a)		729		904

Fixed charges as defined	$	13,962	$	16,226

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES		3.28		3.44







(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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