PPL Electric Utilities 10-Q 2003 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,
				2003		2002		2001		2000		1999 (b)		1998 (b)
Fixed charges, as defined:
	Interest on long-term debt			$	207	$	209	$	220	$	223	$	205	$	188
	Interest on short-term debt and   other interest				3		3		4		16		12		14
	Amortization of debt discount,   expense and premium - net				8		7		6		4		3		2
	Interest on capital lease obligations
		Charged to expense									4		9		8
		Capitalized											1		2
	Estimated interest component of   operating rentals				7		7		8		14		19		18
	Preferred securities distributions of   subsidiaries on a pre-tax basis				3		13		23		23		23		23
			Total fixed charges	$	228	$	239	$	261	$	284	$	272	$	255
Earnings, as defined:
	Net income (a)			$	56	$	39	$	114	$	250	$	444	$	361
	Preferred security dividend requirements				7		16		26		26		37		48
					63		55		140		276		481		409
Add:
	Income taxes				31		18		65		171		151		273
	Amortization of capitalized interest   on capital leases										2		2		2
	Total fixed charges as above   (excluding capitalized interest,   capitalized interest on capital lease   obligations and preferred stock   dividends of subsidiaries on a   pre-tax basis)				220		225		238		257		243		222
			Total earnings	$	314	$	298	$	443	$	706	$	877	$	906
Ratio of earnings to fixed charges					1.4		1.2		1.7		2.5		3.2		3.6

(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 in 2000 and subsequent years are not comparable to prior years. See Note 19 in PPL Electric's Form 10-K for the year ended December 31, 2002 for additional information.