FirstEnergy Solutions Inactive 10-K2007 FY Annual report

Filed: 29 Feb 08, 12:00am

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Readability	7th grade Avg

New words: absence, AC, advanced, advocacy, AIG, altered, Ameren, answer, AQC, arguing, asserted, Atomic, avoid, Babcock, Bali, begun, beneficiary, boost, bordering, bound, BPJ, breach, bring, built, bundled, burden, Burger, Byrd, Calpine, carbon, CFR, Chairman, Chatman, choice, citizen, classified, clear, commerce, compel, Compromised, conceding, concentrated, confidence, contested, contesting, convened, costly, counterclaim, cubic, degree, departure, detailed, detailing, DFI, diminished, disagreement, divided, Donald, Eastlake, embodied, empty, escalated, eventually, evolve, Exelon, exert, exit, exiting, feet, Ferguson, FPA, frequently, GAAP, Gary, gathering, geothermal, guarantor, Hagan, House, hybrid, hydroelectric, identical, ignite, impermissible, implicated, intent, intracompany, introduced, irrevocably, Joseph, judgment, LAR, legislature, likewise, lowest, match, Mcf, mediator, merchant, minimize, Missouri, native, newly, Northeast, notably, notwithstanding, nuisance, officially, opacity, ordinary, outlay, pancaking, passed, Paulette, PennFuture, percentage, political, postretirement, premised, quo, quoted, ready, RECB, receipt, reconcilable, reconciled, reconciliation, reevaluate, ReliabiltyFirst, reopen, reputation, retreat, Rhonda, Roadmap, role, ROP, run, session, shifting, side, Similarly, SNCR, spinning, spread, stack, staggered, Sublease, subprime, subsidy, substitute, Suisse, suit, Super, systematically, tentative, tranche, unconditionally, unduly, uneconomic, unfavorable, universal, unlimited, unpredictability, unreasonable, unrecovered, unresolved, upheld, vacate, vacated, vast, viability, virtue, waiver, widely, Wilcox, Wisconsin, yield

Removed: accrue, acid, acknowledgement, Advisory, Advocate, age, Allegheny, America, Assistant, auction, background, Baltimore, base, boric, borrow, Brookdale, calendar, Cayci, cogeneration, College, community, compete, Concurrent, cooperated, coordination, corrosion, David, degradation, demographic, demonstration, docket, DPL, Elder, employee, endorsed, enforce, enhancing, establishment, examination, extended, fifteen, formal, Fraud, FSG, gain, Georgian, Goodell, harmonize, home, iii, improving, inquiry, interconnect, interruptible, intersystem, Jaffe, Kennedy, Leila, lessen, liaison, Mack, Maier, median, modified, month, MOU, nation, nationwide, NJ, nonutility, notification, OCC, organizational, participated, particulate, pepco, Perrella, Pico, positive, preceding, prevailing, Princeton, Prudential, reactive, recognizing, Red, resolution, Russell, Savage, securitization, served, shopping, simulated, Southern, subpoena, sum, terminated, testing, timetable, Today, training, treatment, Trenton, twelve, Van, vegetation, view, website, Whitehead, Yoskin

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											EXHIBIT 12.8
											Page 1
PENNSYLVANIA ELECTRIC COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES

		Year Ended December 31,
			2003		2004		2005		2006		2007
		(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items		$	20,237	$	36,030	$	27,553	$	84,182	$	92,938
Interest and other charges, before reduction for amounts capitalized
	and deferred		37,660		40,022		39,900		45,278		54,840
Provision for income taxes			24,836		30,001		16,613		56,539		64,015
Interest element of rentals charged to income (a)			3,076		3,016		3,225		3,247		3,214

	Earnings as defined	$	85,809	$	109,069	$	87,291	$	189,246	$	215,007

FIXED CHARGES AS DEFINED IN REGULATION S-K:
Interest before reduction for amounts capitalized and deferred		$	33,883	$	40,022	$	39,900	$	45,278	$	54,840
Subsidiary's preferred stock dividend requirements			3,777		-		-		-		-
Interest element of rentals charged to income (a)			3,076		3,016		3,225		3,247		3,214

	Fixed charges as defined	$	40,736	$	43,038	$	43,125	$	48,525	$	58,054

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES			2.11		2.53		2.02		3.90		3.70




	(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 12.8
											Page 2
PENNSYLVANIA ELECTRIC COMPANY

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES PLUS
PREFERRED STOCK DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)

		Year Ended December 31,
			2003		2004		2005		2006		2007
		(Dollars in thousands)
EARNINGS AS DEFINED IN REGULATION S-K:
Income before extraordinary items		$	20,237	$	36,030	$	27,553	$	84,182	$	92,938
Interest and other charges, before reduction for amounts capitalized
	and deferred		37,660		40,022		39,900		45,278		54,840
Provision for income taxes			24,836		30,001		16,613		56,539		64,015
Interest element of rentals charged to income (a)			3,076		3,016		3,225		3,247		3,214

	Earnings as defined	$	85,809	$	109,069	$	87,291	$	189,246	$	215,007

FIXED CHARGES AS DEFINED IN REGULATION S-K PLUS
	PREFERRED STOCK DIVIDEND REQUIREMENTS
	(PRE-INCOME TAX BASIS):
Interest before reduction for amounts capitalized and deferred		$	33,883	$	40,022	$	39,900	$	45,278	$	54,840
Preferred stock dividend requirements			3,777		-		-		-		-
Adjustments to preferred stock dividends
	to state on a pre-income tax basis		-		-		-		-		-
Interest element of rentals charged to income (a)			3,076		3,016		3,225		3,247		3,214

Fixed charges as defined plus preferred stock
	dividend requirements (pre-income tax basis)	$	40,736	$	43,038	$	43,125	$	48,525	$	58,054

CONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES
	PLUS PREFERRED STOCK DIVIDEND REQUIREMENTS
	(PRE-INCOME TAX BASIS)		2.11		2.53		2.02		3.90		3.70



	(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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