EXHIBIT 12 OHIO POWER COMPANY Computation of Consolidated Ratio of Earnings to Fixed Charges (in thousands except ratio data) Year Ended December 31, 1991 1992 1993 1994 1995 Fixed Charges: Interest on First Mortgage Bonds. . . . . . . . . . . . $ 71,765 $ 83,572 $ 74,121 $ 63,805 $ 61,836 Interest on Other Long-term Debt. . . . . . . . . . . . 28,575 26,611 24,510 21,453 23,193 Interest on Short-term Debt . . . . . . . . . . . . . . 5,973 2,711 1,122 992 2,658 Miscellaneous Interest Charges. . . . . . . . . . . . . 3,237 2,800 2,958 5,140 7,126 Estimated Interest Element in Lease Rentals . . . . . . 22,800 22,800 15,300 13,900 50,700 Total Fixed Charges. . . . . . . . . . . . . . . . $132,350 $138,494 $118,011 $105,290 $145,513 Earnings: Net Income. . . . . . . . . . . . . . . . . . . . . . . $166,102 $160,553 $185,770 $162,626 $189,447 Plus Federal Income Taxes . . . . . . . . . . . . . . . 78,480 75,783 64,244 74,822 93,699 Plus State Income Taxes . . . . . . . . . . . . . . . . 1,898 1,082 2,626 3,375 1,618 Plus Fixed Charges (as above) . . . . . . . . . . . . . 132,350 138,494 118,011 105,290 145,513 Total Earnings . . . . . . . . . . . . . . . . . . $378,830 $375,912 $370,651 $346,113 $430,277 Ratio of Earnings to Fixed Charges. . . . . . . . . . . . 2.86 2.71 3.14 3.28 2.95