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 9/30/97 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 83,572 $ 74,121 $ 63,805 $ 61,836 $ 52,147 $ 47,400 Interest on Other Long-term Debt. . . . . . . . 26,611 24,510 21,453 23,193 27,045 28,171 Interest on Short-term Debt . . . . . . . . . . 2,711 1,122 992 2,658 4,006 3,949 Miscellaneous Interest Charges. . . . . . . . . 2,800 2,958 5,140 7,126 3,705 4,152 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 $136,872 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $160,553 $185,770 $162,626 $189,447 $217,655 $218,831 Plus Federal Income Taxes . . . . . . . . . . . 75,783 64,244 74,822 93,699 117,243 120,048 Plus State Income Taxes . . . . . . . . . . . . 1,082 2,626 3,375 1,618 2,252 2,779 Plus Fixed Charges (as above) . . . . . . . . . 138,494 118,011 105,290 145,513 140,103 136,872 Total Earnings . . . . . . . . . . . . . . $375,912 $370,651 $346,113 $430,277 $477,253 $478,530 Ratio of Earnings to Fixed Charges. . . . . . . . 2.71 3.14 3.28 2.95 3.40 3.49