Peoples Energy 10-K/A 2005 FY Annual report (amended)

Exhibit 12

Peoples Energy Corporation and Subsidiary Companies

Statement Re: Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)

	Fiscal years ended September 30,
	2005			2004			2003		2002		2001
Net Income Before Preferred
Stock Dividends, as reported	$	78,133		$	81,564		$	103,934	$	89,071	$	96,939
Change in undistributed earnings from equity investees		(10,150	)		(8,327	)		4,740		12,216		(7,587	)
Add — Income Taxes		44,704			37,833			59,182		46,321		51,372
Fixed charges excluding capitalized interest		50,615			48,426			49,441		56,439		72,051
Earnings	$	163,302		$	159,496		$	217,297	$	204,047	$	212,775
Fixed charges including capitalized interest	$	50,615		$	48,426		$	49,441	$	56,439	$	72,051
Ratio of Earnings to Fixed Charges		3.23			3.29			4.40		3.62		2.95

Exhibit 12

The Peoples Gas Light and Coke Company and Subsidiary Companies

Statement Re: Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)

	Fiscal years ended September 30,
	2005		2004		2003		2002		2001
Net Income Before Preferred
Stock Dividends	$	49,333	$	45,376	$	79,582	$	77,818	$	75,259
Add — Income Taxes		26,690		24,397		45,752		47,832		47,692
Fixed Charges excluding capitalized interest		23,781		21,114		22,314		23,673		36,737
Earnings	$	99,804	$	90,887	$	147,648	$	149,323	$	159,688
Fixed Charges including capitalized interest	$	23,781	$	21,114	$	22,314	$	23,673	$	36,737
Ratio of Earnings to Fixed Charges		4.20		4.30		6.62		6.31		4.35

Exhibit 12

North Shore Gas Company and Subsidiary Companies

Statement Re: Computation of Ratio of Earnings to Fixed Charges
(Dollars in Thousands)

	Fiscal years ended September 30,
	2005		2004		2003		2002		2001
Net Income Before Preferred
Stock Dividends	$	11,397	$	11,076	$	14,545	$	12,921	$	14,580
Add — Income Taxes		6,656		6,743		8,712		7,916		9,013
Fixed Charges excluding capitalized interest		3,706		3,688		3,603		5,045		5,434
Earnings	$	21,759	$	21,507	$	26,860	$	25,882	$	29,027
Fixed Charges including capitalized interest	$	3,706	$	3,688	$	3,603	$	5,045	$	5,434
Ratio of Earnings to Fixed Charges		5.87		5.83		7.45		5.13		5.34