Exhibit 12.1
5/15/101
GEORGIA POWER COMPANY
Computation of ratio of earnings to fixed charges for the
the five years ended December 31, 2000
and the twelve months ended March 31, 2001
Twelve
Months
Ended
Year ended December 31, March 31,
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1996 1997 1998 1999 2000 2001
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------------------------------------Thousands of Dollars-------------------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
Earnings Before Interest and Income Taxes $1,295,124 $1,277,565 $1,249,768 $1,158,999 $1,192,370 $1,217,111
AFUDC - Debt funds 11,452 9,030 7,117 12,429 23,396 24,410
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Earnings as defined $1,306,576 $1,286,595 $1,256,885 $1,171,428 $1,215,766 $1,241,521
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FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt $ 210,149 $ 196,707 $ 182,879 $ 164,375 $ 171,994 $ 175,917
Interest on interim obligations 15,478 7,795 12,213 19,787 28,262 28,488
Amort of debt disc, premium and expense, net 14,802 14,191 13,378 15,127 14,257 15,069
Other interest charges 21,296 57,623 71,536 75,868 79,396 79,386
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Fixed charges as defined $ 261,725 $ 276,316 $ 280,006 $ 275,157 $ 293,909 $ 298,860
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RATIO OF EARNINGS TO FIXED CHARGES 4.99 4.66 4.49 4.26 4.14 4.15
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Note: The above figures have been adjusted to give effect to Georgia
Power Company's 50% ownership of Southern Electric Generating
Company.