PPL Electric Utilities 10-Q 2002 Q2 Quarterly report

Exhibit 12(c)
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars)
				12 Months Ended June 30,		12 Months Ended December 31, (c)
				2002 (b)		2001(b)		2000(b)		1999		1998		1997
Fixed charges, as defined:
	Interest on long-term debt			$	216	$	220	$	223	$	205	$	188	$	195
	Interest on short-term debt and other interest				3		4		16		12		14		17
	Amortization of debt discount, expense and premium - net				7		6		4		3		2		2
	Interest on capital lease obligations
		Charged to expense							4		9		8		9
		Capitalized									1		2		2
	Estimated interest component of operating rentals				7		8		14		19		18		15
	Preferred stock dividends of subsidiaries on a pre-tax basis				21		23		23		23		23		14
			Total fixed charges	$	254	$	261	$	284	$	272	$	255	$	254
Earnings, as defined:
	Net income (a)			$	71	$	114	$	250	$	444	$	361	$	308
	Preferred security dividend requirements				24		26		26		37		48		40
					95		140		276		481		409		348
Add:
	Income taxes			$	32	$	65	$	171	$	151	$	273	$	248
	Amortization of capitalized interest on capital leases								2		2		2		2
	Total fixed charges as above (excluding capitalized interest,    capitalized interest on capital lease obligations and    preferred stock dividendsof subsidiaries on a pre-tax basis)				232		238		257		243		222		231
			Total earnings	$	359	$	443	$	706	$	877	$	906	$	829
Ratio of earnings to fixed charges					1.4		1.7		2.5		3.2		3.6		3.3
(a)	Net income excludes extraordinary items and the cumulative effect of a change in accounting principle.
(b)	Due to the corporate realignment on July 1, 2000, data subsequent to 2000 is not comparable to prior years. See Note 12 in PPL Electric's Form 10-K for the year
	ended December 31, 2001 for additional information.
(c)	Ratio of earnings to fixed charges for years 2001 and prior were recalculated to give proper effect of preferred security dividends of subsidiaries on a pre-tax basis.