PPL Electric Utilities 10-Q 2006 Q1 Quarterly report

Exhibit 12(c)
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Millions of Dollars)
	12 Months Ended March 31,		12 Months Ended December 31,
	2006		2005		2004		2003		2002		2001
Fixed charges, as defined:
Interest on long-term debt	$	146	$	151	$	176	$	201	$	209	$	220
Interest on short-term debt and   other interest		16		22		7		3		3		4
Amortization of debt discount,   expense and premium - net		9		9		7		8		7		6
Estimated interest component of   operating rentals		8		8		8		7		7		8
Preferred security distributions of   subsidiaries on a pre-tax basis										13		23
Total fixed charges	$	179	$	190	$	198	$	219	$	239	$	261
Earnings, as defined:
Net income (a)	$	181	$	145	$	74	$	25	$	39	$	114
Preferred security dividend   requirements		2		2		2		3		16		26
		183		147		76		28		55		140
Add:
Income taxes		95		69		8		18		18		65
Total fixed charges as above   (excluding capitalized interest and   preferred security distributions of   subsidiaries on a pre-tax basis)		179		190		197		219		225		238
Total earnings	$	457	$	406	$	281	$	265	$	298	$	443
Ratio of earnings to fixed charges		2.6		2.1		1.4		1.2		1.2		1.7
Preferred stock dividend requirements on a   pre-tax basis	$	4	$	4	$	4	$	5	$	7	$	7
Fixed charges, as above		179		190		198		219		239		261
Total fixed charges and preferred   stock dividends	$	183	$	194	$	202	$	224	$	246	$	268
Ratio of earnings to combined fixed charges   and preferred stock dividends		2.5		2.1		1.4		1.2		1.2		1.7

(a) Net income excludes the cumulative effect of a change in accounting principle.