Duquesne Light Inactive 10-Q2005 Q1 Quarterly report

Filed: 10 May 05, 12:00am

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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)
	Three Months Ended March 31,		Year Ended December 31,
	2005		2004		2003		2002		2001		2000
Fixed Charges:
Interest on long-term debt	$	12.2	$	45.6	$	53.1	$	55.2	$	62.3	$	73.5
Other interest		0.4		1.4		1.5		2.2		0.7		3.1
Company obligated mandatorily redeemable preferred securities dividend requirement (a)		—		—		6.3		12.6		12.6		12.6
Portion of lease payments representing an interest factor		0.5		2.5		3.9		1.9		3.1		6.8
Dividend requirements		2.0		6.6		3.2		3.3		3.4		3.4

Total Fixed Charges	$	15.1	$	56.1	$	68.0	$	75.2	$	82.1	$	99.4

Earnings:
Net income	$	21.9	$	67.8	$	69.6	$	75.4	$	53.4	$	92.6
Income tax expense		14.1		44.3		45.4		48.9		30.8		40.5
Fixed charges as above		15.1		56.1		68.0		75.2		82.1		99.4

Total Earnings	$	51.1	$	168.2	$	183.0	$	199.5	$	166.3	$	232.5

Ratio Of Earnings To Fixed Charges and Preferred and Preference Stock Dividend Requirements		3.38		3.00		2.69		2.65		2.03		2.34

(a)	From July 1, 2003 until their redemption in 2004, dividends on the monthly income preferred securities were included with interest on long-term debt due to the adoption of SFAS No. 150.