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 1991 1992 1993 1994 1995 9/30/96 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 71,765 $ 83,572 $ 74,121 $ 63,805 $ 61,836 $ 54,685 Interest on Other Long-term Debt. . . . . . . . 28,575 26,611 24,510 21,453 23,193 27,154 Interest on Short-term Debt . . . . . . . . . . 5,973 2,711 1,122 992 2,658 3,561 Miscellaneous Interest Charges. . . . . . . . . 3,237 2,800 2,958 5,140 7,126 4,838 Estimated Interest Element in Lease Rentals . . 22,800 22,800 15,300 13,900 50,700 50,700 Total Fixed Charges. . . . . . . . . . . . $132,350 $138,494 $118,011 $105,290 $145,513 $140,938 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $166,102 $160,553 $185,770 $162,626 $189,447 $212,504 Plus Federal Income Taxes . . . . . . . . . . . 78,480 75,783 64,244 74,822 93,699 111,048 Plus State Income Taxes . . . . . . . . . . . . 1,898 1,082 2,626 3,375 1,618 1,998 Plus Fixed Charges (as above) . . . . . . . . . 132,350 138,494 118,011 105,290 145,513 140,938 Total Earnings . . . . . . . . . . . . . . $378,830 $375,912 $370,651 $346,113 $430,277 $466,488 Ratio of Earnings to Fixed Charges. . . . . . . . 2.86 2.71 3.14 3.28 2.95 3.30