EXHIBIT 12 OHIO POWER COMPANY Computation of Consolidated Ratio of Earnings to Fixed Charges (in thousands except ratio data) Twelve Months Year Ended December 31, Ended 1990 1991 1992 1993 1994 3/31/95 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 67,079 $ 71,765 $ 83,572 $ 74,121 $ 63,805 $ 63,696 Interest on Other Long-term Debt. . . . . . . . 28,425 28,575 26,611 24,510 21,453 21,511 Interest on Short-term Debt . . . . . . . . . . 4,943 5,973 2,711 1,122 992 1,055 Miscellaneous Interest Charges. . . . . . . . . 3,177 3,237 2,800 2,958 5,140 5,893 Estimated Interest Element in Lease Rentals . . 25,000 22,800 22,800 15,300 13,900 23,200 Total Fixed Charges. . . . . . . . . . . . $128,624 $132,350 $138,494 $118,011 $105,290 $115,355 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $179,990 $166,102 $160,553 $185,770 $162,626 $156,133 Plus Federal Income Taxes . . . . . . . . . . . 72,816 78,480 75,783 64,244 74,822 73,060 Plus State Income Taxes . . . . . . . . . . . . 2,771 1,898 1,082 2,626 3,375 3,288 Plus Fixed Charges (as above) . . . . . . . . . 128,624 132,350 138,494 118,011 105,290 115,355 Total Earnings . . . . . . . . . . . . . . $384,201 $378,830 $375,912 $370,651 $346,113 $347,836 Ratio of Earnings to Fixed Charges. . . . . . . . 2.98 2.86 2.71 3.14 3.28 3.01