American Electric Power (AEP) 10-Q 2011 Q2 Quarterly report

EXHIBIT 12

AMERICAN ELECTRIC POWER COMPANY, INC. AND SUBSIDIAIRIES

Computation of Consolidated Ratios of Earnings to Fixed Charges

(in millions except ratio data)

																Twelve			Six
																Months			Months
	Years Ended December 31,															Ended			Ended
	2006			2007			2008			2009			2010			6/30/2011			6/30/2011
EARNINGS
Income Before Income Tax Expense and Equity Earnings	$	1,483		$	1,663		$	2,015		$	1,938		$	1,849		$	2,247		$	1,148
Fixed Charges (as below)		999			1,146			1,240			1,237			1,254			1,237			612
Preferred Security Dividend Requirements of    Consolidated Subsidiaries		(4	)		(4	)		(4	)		(4	)		(4	)		(4	)		(2	)
Total Earnings	$	2,478		$	2,805		$	3,251		$	3,171		$	3,099		$	3,480		$	1,758
FIXED CHARGES
Interest Expense	$	729		$	838		$	957		$	973		$	999		$	981		$	481
Credit for Allowance for Borrowed Funds Used    During Construction		82			79			75			67			53			54			30
Estimated Interest Element in Lease Rentals		184			225			204			193			198			198			99
Preferred Security Dividend Requirements of    Consolidated Subsidiaries		4			4			4			4			4			4			2
Total Fixed Charges	$	999		$	1,146		$	1,240		$	1,237		$	1,254		$	1,237		$	612
Ratio of Earnings to Fixed Charges		2.48			2.44			2.62			2.56			2.47			2.81			2.87