Exhibit 12
3/23/100
MISSISSIPPI POWER COMPANY
Computation of ratio of earnings to fixed charges for the
the five years ended December 31, 1998
and the twelve months ended December 31, 1999
Twelve
Months
Ended
Year ended December 31, December 31,
-------------------------------------------------------
1994 1995 1996 1997 1998 1999
--------------------------Thousands of Dollars---------------
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
Earnings Before Interest and Income Taxes $ 107,680 $ 118,257 $ 114,073 $ 113,149 $ 118,316 $ 121,704
AFUDC - Debt funds 1,039 399 713 0 0 0
---------- ------------ ----------- ---------- ---------- -----------
Earnings as defined $ 108,719 $ 118,656 $ 114,786 $ 113,149 $ 118,316 $ 121,704
========== ============ =========== ========== ========== ===========
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt $ 19,725 $ 21,898 $ 19,898 $ 19,856 $ 20,567 $ 20,455
Interest on interim obligations 1,442 1,141 1,416 96 943 2,750
Amort of debt disc, premium and expense, net 1,479 1,510 1,547 1,577 1,446 1,432
Other interest charges 404 1,185 753 2,943 3,586 6,128
---------- ------------ ----------- ---------- ---------- -----------
Fixed charges as defined $ 23,050 $ 25,734 $ 23,614 $ 24,472 $ 26,542 $ 30,765
========== ============ =========== ========== ========== ===========
RATIO OF EARNINGS TO FIXED CHARGES 4.72 4.61 4.86 4.62 4.46 3.96
==== ==== ==== ===== ===== ====