Exhibit 12 (a) 1
 1                          
                          CENTRAL POWER AND LIGHT COMPANY
                         RATIO OF EARNINGS TO FIXED CHARGES
                            FOR YEARS ENDED DECEMBER 31
                                                            
                                   1994     1993     1992     1991       1990
                                            (thousands except ratios)
Operating income                $256,251  $190,079 $266,665 $249,573   $162,527
Adjustments:                                                      
  Federal income taxes            51,329   (18,954)  34,726   42,869     (2,914)
  Provision for deferred                                             
    federal income taxes          26,659    90,520   48,610   36,821    103,326
  Deferred investment tax                                            
    credits                       (5,789)   (5,806)  (5,837)  (5,831)    (6,103)
  Other income and deductions      1,272     1,663      890    2,522     (1,687)
  Allowance for borrowed and 
    equity funds used during
    construction                   3,689     2,618    1,171    2,124      1,057
  STP carrying costs                  --        --       --       --    185,078
  Mirror CWIP amortization        68,000    75,702   82,527   96,671         --
      Earnings                  $401,411  $335,822 $428,752 $424,749   $441,284
                                                                  
                                                                  
Fixed charges:                                                    
  Interest on long-term debt    $111,408  $112,939 $125,476 $124,987   $126,584
  Interest on short-term debt
    and other                     12,365    11,993    7,266    8,697     15,521
       Fixed Charges            $123,773  $124,932 $132,742 $133,684   $142,105
                                                                  
                                                                  
                                                                  
Ratio of Earnings to Fixed 
  Charges                           3.24      2.69     3.23     3.18       3.11