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 6/30/99 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . $ 63,805 $ 61,836 $ 52,147 $ 45,540 $ 33,663 $ 28,767 Interest on Other Long-term Debt. . . . . . . . 21,453 23,193 27,045 29,620 38,520 43,435 Interest on Short-term Debt . . . . . . . . . . 992 2,658 4,006 4,519 5,821 7,711 Miscellaneous Interest Charges. . . . . . . . . 5,140 7,126 3,705 4,464 4,617 4,645 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 $143,858 Earnings: Net Income. . . . . . . . . . . . . . . . . . . $162,626 $189,447 $217,655 $208,689 $209,925 $209,116 Plus Federal Income Taxes . . . . . . . . . . . 74,822 93,699 117,243 121,559 112,087 115,649 Plus State Income Taxes . . . . . . . . . . . . 3,375 1,618 2,252 2,655 2,742 2,889 Plus Fixed Charges (as above) . . . . . . . . . 105,290 145,513 140,103 137,043 141,921 143,858 Total Earnings . . . . . . . . . . . . . . $346,113 $430,277 $477,253 $469,946 $466,675 $471,512 Ratio of Earnings to Fixed Charges. . . . . . . . 3.28 2.95 3.40 3.42 3.28 3.27