Duquesne Light 10-Q 2004 Q3 Quarterly report

EXHIBIT 12.2

DUQUESNE LIGHT COMPANY AND SUBSIDIARIES

Calculation of Ratio of Earnings to Fixed Charges and Preferred and Preference Stock Dividend Requirements

	(Millions of Dollars)
	Nine Months Ended September 30, 2004		Year Ended December 31,
			2003		2002		2001		2000		1999
Fixed Charges:
Interest on long-term debt	$	31.0	$	49.2	$	52.6	$	60.1	$	71.2	$	76.9
Other interest		1.4		1.5		2.2		0.7		3.1		4.8
Company obligated mandatorily redeemable preferred securities dividend requirement (a)		—		6.3		12.6		12.6		12.6		12.6
Amortization of debt discount, premium and expense - net		2.5		3.9		2.6		2.2		2.3		2.5
Portion of lease payments representing an interest factor		1.9		3.9		1.9		3.1		6.8		43.0
Dividend requirements		4.6		3.2		3.3		3.4		3.4		4.0
Total Fixed Charges	$	41.4	$	68.0	$	75.2	$	82.1	$	99.4	$	143.8
Earnings:
Net income	$	53.1	$	69.6	$	75.4	$	53.4	$	92.6	$	151.0
Income tax expense		33.9		45.4		48.9		30.8		40.5		73.6
Fixed charges as above		41.4		68.0		75.2		82.1		99.4		143.8
Total Earnings	$	128.4	$	183.0	$	199.5	$	166.3	$	232.5	$	368.4
Ratio Of Earnings To Fixed Charges and Preferred and Preference Stock Dividend Requirements		3.10		2.69		2.65		2.03		2.34		2.56

(a) Effective July 1, 2003, dividends on the monthly income preferred securities are included with interest on long-term debt due to the adoption of SFAS No. 150.