EXHIBIT 12 OHIO POWER COMPANY Computation of Consolidated Ratio of Earnings to Fixed Charges (in thousands except ratio data) Year Ended December 31, 1993 1994 1995 1996 1997 Fixed Charges: Interest on First Mortgage Bonds . . . . . . . . . $ 74,121 $ 63,805 $ 61,836 $ 52,147 $ 45,540 Interest on Other Long-term Debt . . . . . . . . . 24,510 21,453 23,193 27,045 29,620 Interest on Short-term Debt. . . . . . . . . . . . 1,122 992 2,658 4,006 4,519 Miscellaneous Interest Charges . . . . . . . . . . 2,958 5,140 7,126 3,705 4,464 Estimated Interest Element in Lease Rentals. . . . 15,300 13,900 50,700 53,200 52,900 Total Fixed Charges . . . . . . . . . . . . . $118,011 $105,290 $145,513 $140,103 $137,043 Earnings: Net Income . . . . . . . . . . . . . . . . . . . . $185,770 $162,626 $189,447 $217,655 $208,689 Plus Federal Income Taxes. . . . . . . . . . . . . 64,244 74,822 93,699 117,243 121,559 Plus State Income Taxes. . . . . . . . . . . . . . 2,626 3,375 1,618 2,252 2,655 Plus Fixed Charges (as above). . . . . . . . . . . 118,011 105,290 145,513 140,103 137,043 Total Earnings. . . . . . . . . . . . . . . . $370,651 $346,113 $430,277 $477,253 $469,946 Ratio of Earnings to Fixed Charges . . . . . . . . . 3.14 3.28 2.95 3.40 3.42