PPL (PPL) 10-Q 2002 Q3 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 September 30,		12 Months Ended December 31, (c)
				2002 (b)		2001(b)		2000(b)		1999		1998		1997
Fixed charges, as defined:
	Interest on long-term debt			$	213	$	220	$	223	$	205	$	188	$	195
	Interest on short-term debt and   other interest				3		4		16		12		14		17
	Amortization of debt discount,   expense and premium - net				7		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				19		23		23		23		23		14
			Total fixed charges	$	249	$	261	$	284	$	272	$	255	$	254
Earnings, as defined:
	Net income (a)			$	70	$	114	$	250	$	444	$	361	$	308
	Preferred security dividend   requirements				21		26		26		37		48		40
					91		140		276		481		409		348
Add:
	Income taxes				34		65		171		151		273		248
	Amortization of capitalized interest   on capital leases								2		2		2		2
	Total fixed charges as above   (excluding capitalized interest,   capitalized interest on capital lease   obligations and preferred stock   dividends of subsidiaries on a   pre-tax basis)				229		238		257		243		222		231
			Total earnings	$	354	$	443	$	706	$	877	$	906	$	829
Ratio of earnings to fixed charges					1.4		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 in 2000 and subsequent years are 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.