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 1992 1993 1994 1995 1996 6/30/97 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 83,572 $ 74,121 $ 63,805 $ 61,836 $ 52,147 $ 48,990 Interest on Other Long-term Debt. . . . . . . . 26,611 24,510 21,453 23,193 27,045 27,529 Interest on Short-term Debt . . . . . . . . . . 2,711 1,122 992 2,658 4,006 3,793 Miscellaneous Interest Charges. . . . . . . . . 2,800 2,958 5,140 7,126 3,705 1,262 Estimated Interest Element in Lease Rentals . . 22,800 15,300 13,900 50,700 53,200 53,200 Total Fixed Charges. . . . . . . . . . . . $138,494 $118,011 $105,290 $145,513 $140,103 $134,774 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $160,553 $185,770 $162,626 $189,447 $217,655 $223,080 Plus Federal Income Taxes . . . . . . . . . . . 75,783 64,244 74,822 93,699 117,243 125,614 Plus State Income Taxes . . . . . . . . . . . . 1,082 2,626 3,375 1,618 2,252 2,887 Plus Fixed Charges (as above) . . . . . . . . . 138,494 118,011 105,290 145,513 140,103 134,774 Total Earnings . . . . . . . . . . . . . . $375,912 $370,651 $346,113 $430,277 $477,253 $486,355 Ratio of Earnings to Fixed Charges. . . . . . . . 2.71 3.14 3.28 2.95 3.40 3.60