PPL (PPL) 10-Q 2002 Q1 Quarterly report

Exhibit 12(c)
PPL ELECTRIC UTILITIES CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars)
				12 Months Ended March 31,		12 Months Ended December 31, (c)
				2002 (b)		2001 (b)		2000 (b)		1999		1998		1997
Fixed charges, as defined:
	Interest on long-term debt			$	214	$	220	$	223	$	205	$	188	$	195
	Interest on short-term debt   and other interest				4		4		16		12		14		17
	Amortization of debt discount,   expense and premium - net				6		6		4		3		2		2
	Interest on capital lease   obligations
		Charged to expense							4		9		8		9
		Capitalized									1		2		2
	Estimated interest component of   operating rentals				7		8		14		19		18		15
	Preferred stock dividends of   subsidiaries on a pre-tax basis				23		23		23		23		23		14
			Total fixed charges	$	254	$	261	$	284	$	272	$	255	$	254
Earnings, as defined:
	Net income (a)			$	100	$	114	$	250	$	444	$	361	$	308
	Preferred security dividend   requirements				25		26		26		37		48		40
				$	125	$	140	$	276	$	481	$	409	$	348
Add:
	Income taxes				55		65		171		151		273		248
	Amortization of capitalized   interest on capital leases								2		2		2		2
	Total fixed charges as above   (excluding capitalized interest   on capital lease obligations and   preferred stock dividends of   subsidiaries on a pre-tax basis)				232		238		261		248		230		238
			Total earnings	$	412	$	443	$	710	$	882	$	914	$	836
Ratio of earnings to fixed charges					1.6		1.7		2.5		3.2		3.6		3.3
(a)	Net income excludes extraordinary items and the cumulative effect of a change in   accounting principle.
(b)	Due to the corporate realignment on July 1, 2000, data subsequent to 2000 is not comparable   to prior years. See Note 12 in PPL Electric's Form 10-K for the year ended   December 31, 2001 for additional information.
(c)	Ratio of earnings to fixed charges for years 2001 and prior were recalculated to give proper   effect of preferred security dividends of subsidiaries on a pre-tax basis.