EXHIBIT 12
                                                                 COLUMBUS SOUTHERN POWER COMPANY
                                                 Computation of Consolidated Ratios of Earnings to Fixed Charges
                                                                (in thousands except ratio data)

                                                                                                    Twelve
                                                                                                    Months
                                                                  Year Ended December 31,            Ended
                                                   1996      1997       1998      1999      2000    3/31/01
                                                                                  
Fixed Charges:
  Interest on First Mortgage Bonds. . . . . . . . $59,711    $55,156   $47,323   $43,207    $40,602  $40,171
  Interest on Other Long-term Debt. . . . . . . .  12,125     15,525    23,594    25,878     25,878   25,878
  Interest on Short-term Debt . . . . . . . . . .   2,400      5,104     3,493     2,460      2,412    2,999
  Miscellaneous Interest Charges. . . . . . . . .   4,374      4,729     4,459     4,659     14,205   14,047
  Estimated Interest Element in Lease Rentals . .   4,600      4,100     5,300     4,600      5,300    5,300
       Total Fixed Charges. . . . . . . . . . . . $83,210    $84,614   $84,169   $80,804    $88,397  $88,395

Earnings:
  Income Before Extraordinary Item    . . . . . . $107,108   $119,379  $133,044  $150,270  $120,202 $130,402
  Plus Federal Income Taxes . . . . . . . . . . .   60,302     69,760    71,202    82,686   116,590  118,202
  Plus State Income Taxes . . . . . . . . . . . .       11          6         3        89       136    1,364
  Plus Fixed Charges (as above) . . . . . . . . .   83,210     84,614    84,169    80,804    88,397   88,395
       Total Earnings . . . . . . . . . . . . . . $250,631   $273,759  $288,418  $313,849  $325,325 $338,363

Ratio of Earnings to Fixed Charges. . . . . . . .     3.01       3.23      3.42      3.88      3.68     3.82