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| Exhibit 12.1 |
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| 2/12/2008 |
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GEORGIA POWER COMPANY | |||||||||||||||||
Computation of ratio of earnings to fixed charges for | |||||||||||||||||
the five years ended December 31, 2007 | |||||||||||||||||
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| Year ended December 31, |
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| 2003 |
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| 2004 |
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| 2005 |
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| 2006 |
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| 2007 |
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| --------------------------------------------------Thousands of Dollars--------------------------------------- |
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EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: |
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Earnings before income taxes |
| $ | 1,037,301 |
| $ | 1,081,028 |
| $ | 1,197,831 |
| $ | 1,236,845 |
| $ | 1,262,232 |
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Interest expense, net of amounts capitalized |
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| 193,728 |
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| 240,572 |
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| 297,313 |
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| 319,894 |
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| 345,538 |
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Distributions on mandatorily redeemable preferred securities |
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| 62,415 |
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| 15,948 |
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| 0 |
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| 0 |
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| 0 |
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AFUDC - Debt funds |
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| 5,634 |
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| 10,295 |
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| 11,812 |
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| 12,354 |
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| 28,469 |
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Earnings as defined |
| $ | 1,299,078 |
| $ | 1,347,843 |
| $ | 1,506,956 |
| $ | 1,569,093 |
| $ | 1,636,239 |
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FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: |
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Interest on long-term debt |
| $ | 167,125 |
| $ | 179,219 |
| $ | 215,264 |
| $ | 217,954 |
| $ | 270,429 |
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Interest on affiliated loans |
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| 3,299 |
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| 46,512 |
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| 68,735 |
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| 87,672 |
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| 65,769 |
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Interest on interim obligations |
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| 0 |
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| 24 |
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| 0 |
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| 0 |
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| 8,463 |
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Amort of debt disc, premium and expense, net |
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| 16,579 |
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| 16,812 |
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| 17,109 |
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| 17,054 |
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| 18,431 |
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Other interest charges |
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| 12,359 |
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| 8,301 |
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| 8,017 |
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| 9,571 |
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| 10,915 |
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Distributions on mandatorily redeemable preferred securities |
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| 62,415 |
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| 15,948 |
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| 0 |
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| 0 |
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| 0 |
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Fixed charges as defined |
| $ | 261,777 |
| $ | 266,816 |
| $ | 309,125 |
| $ | 332,251 |
| $ | 374,007 |
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RATIO OF EARNINGS TO FIXED CHARGES |
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| 4.96 |
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| 5.05 |
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| 4.87 |
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| 4.72 |
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| 4.37 |
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