Talen Energy Supply 10-K 2003 FY Annual report

Exhibit 12(c)
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars)
					2003 (b)		2002 (b)		2001 (b)		2000 (b)		1999
Fixed charges, as defined:
	Interest on long-term debt				$	201	$	209	$	220	$	223	$	205
	Interest on short-term debt and   other interest					3		3		4		16		12
	Amortization of debt discount,   expense and premium - net					8		7		6		4		3
	Interest on capital lease obligations
			Charged to expense									4		9
			Capitalized											1
	Estimated interest component of   operating rentals					7		7		8		14		19
	Preferred security distributions of   subsidiaries on a pre-tax basis							13		23		23		23
				Total fixed charges	$	219	$	239	$	261	$	284	$	272
Earnings, as defined:
	Net income (a)				$	25	$	39	$	114	$	250	$	444
	Preferred security dividend   requirements					3		16		26		26		37
						28		55		140		276		481
Add:
	Income taxes					18		18		65		171		151
	Amortization of capitalized interest   on capital leases											2		2
	Total fixed charges as above   (excluding capitalized interest,   capitalized interest on capital lease   obligations and preferred security   distributions of subsidiaries on a   pre-tax basis)					219		225		238		257		243
				Total earnings	$	265	$	298	$	443	$	706	$	877
Ratio of earnings to fixed charges						1.2		1.2		1.7		2.5		3.2
(a)		Net income excludes extraordinary item and the cumulative effect of a change in accounting principle.
(b)		Due to the corporate realignment on July 1, 2000, data in 2000 and subsequent years are not comparable to 1999.