EXHIBIT 12

                     KENTUCKY POWER COMPANY
        Computation of Ratio of Earnings to Fixed Charges
                (in thousands except ratio data)

                                                                                                    Twelve
                                                                                                    Months
                                                              Year Ended December 31,               Ended
                                                  1995       1996       1997       1998      1999   9/30/00
                                                                                  
Fixed Charges:
  Interest on First Mortgage Bonds . . . . . .  $19,090    $14,914    $14,867   $13,936   $12,712   $ 9,923
  Interest on Other Long-term Debt . . . . . .    2,422      6,446      8,597    12,188    13,525    16,530
  Interest on Short-term Debt. . . . . . . . .    2,242      2,849      3,034     2,455     2,552     3,032
  Miscellaneous Interest Charges . . . . . . .      510        555        559       634       869     1,099
  Estimated Interest Element in Lease Rentals.      700        800      1,700     1,500     1,200     1,200
       Total Fixed Charges . . . . . . . . . .  $24,964    $25,564    $28,757   $30,713   $30,858   $31,784

Earnings:
  Net Income . . . . . . . . . . . . . . . . .  $25,128    $16,973    $20,746   $21,676   $25,430   $24,291
  Plus Federal Income Taxes. . . . . . . . . .    3,914      5,119      9,415     9,785    12,993    12,332
  Plus State Income Taxes. . . . . . . . . . .    1,420        598      2,190     2,096     2,784     2,994
  Plus Fixed Charges (as above). . . . . . . .   24,964     25,564     28,757    30,713    30,858    31,784
       Total Earnings. . . . . . . . . . . . .  $55,426    $48,254    $61,108   $64,270   $72,065   $71,401

Ratio of Earnings to Fixed Charges . . . . . .     2.22       1.88       2.12      2.09      2.33      2.24