EXHIBIT 12
NORTHWEST NATURAL GAS COMPANY
Computation of Ratio of Earnings to Fixed Charges
January 1, 1990 - September 30, 1995
($000)
Twelve
Months
Year Ended December 31 Ended
----------------------------------------- Sept.30,
1990 1991 1992 1993 1994 1995
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Fixed Charges, as
defined:
Interest on Long-
Term Debt $22,244 $21,977 $23,001 $22,578 $21,921 $23,103
Other Interest 2,853 4,266 3,223 1,906 2,473 2,447
Amortization of Debt
Discount and Expense 363 348 511 775 850 888
Interest Portion of
Rentals 1,546 1,485 1,439 1,701 1,697 1,697
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Total Fixed
Charges, as
defined $27,006 $28,076 $28,174 $26,960 $26,941 $28,135
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Earnings, as defined:
Net Income $30,724 $14,377 $15,775 $37,647 $35,461 $36,202
Taxes on Income 13,629 2,321 6,951 22,096 20,473 22,352
Fixed Charges,
as above 27,006 28,076 28,174 26,960 26,941 28,135
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Total Earnings,
as defined $71,359 $44,774 $50,900 $86,703 $82,875 $86,689
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Ratio of Earnings to
Fixed Charges 2.64 1.59 1.81 3.22 3.08 3.08
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