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 1994 1995 1996 1997 1998 3/31/99 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 63,805 $ 61,836 $ 52,147 $ 45,540 $ 33,663 $ 30,994 Interest on Other Long-term Debt. . . . . . . . 21,453 23,193 27,045 29,620 38,520 41,554 Interest on Short-term Debt . . . . . . . . . . 992 2,658 4,006 4,519 5,821 6,171 Miscellaneous Interest Charges. . . . . . . . . 5,140 7,126 3,705 4,464 4,617 4,691 Estimated Interest Element in Lease Rentals . . 13,900 50,700 53,200 52,900 59,300 59,300 Total Fixed Charges. . . . . . . . . . . . $105,290 $145,513 $140,103 $137,043 $141,921 $142,710 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $162,626 $189,447 $217,655 $208,689 $209,925 $210,310 Plus Federal Income Taxes . . . . . . . . . . . 74,822 93,699 117,243 121,559 112,087 114,837 Plus State Income Taxes . . . . . . . . . . . . 3,375 1,618 2,252 2,655 2,742 2,548 Plus Fixed Charges (as above) . . . . . . . . . 105,290 145,513 140,103 137,043 141,921 142,710 Total Earnings . . . . . . . . . . . . . . $346,113 $430,277 $477,253 $469,946 $466,675 $470,405 Ratio of Earnings to Fixed Charges. . . . . . . . 3.28 2.95 3.40 3.42 3.28 3.29