Exhibit 12.1
2/13/2007
GEORGIA POWER COMPANY
Computation of ratio of earnings to fixed charges for
the five years ended December 31, 2006
----------------------------------------------------------------
2002 2003 2004 2005 2006
---- ---- ---- ---- ----
EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K:
Earnings before income taxes $1,010,350 $1,037,301 $1,081,028 $1,197,831 $1,236,845
Interest expense, net of amounts capitalized 181,024 193,728 240,572 297,313 319,894
Distributions on mandatorily redeemable preferred securities 65,293 62,415 15,948 0 0
AFUDC - Debt funds 8,570 5,634 10,295 11,812 12,354
---------- ---------- ---------- ---------- ----------
Earnings as defined $1,265,237 $1,299,078 $1,347,843 $1,506,956 $1,569,093
========== ========== ========== ========== ==========
FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
Interest on long-term debt $ 148,534 $ 167,125 $ 179,219 $ 215,264 $ 217,954
Interest on affiliated loans 10,195 3,299 46,512 68,735 87,672
Interest on interim obligations 3,078 0 24 0 0
Amort of debt disc, premium and expense, net 17,012 16,579 16,812 17,109 17,054
Other interest charges 10,774 12,359 8,301 8,017 9,571
Distributions on mandatorily redeemable preferred securities 65,293 62,415 15,948 0 0
---------- ---------- ---------- ---------- ----------
Fixed charges as defined $ 254,886 $ 261,777 $ 266,816 $ 309,125 $ 332,251
========== ========== ========== ========== ==========
RATIO OF EARNINGS TO FIXED CHARGES 4.96 4.96 5.05 4.87 4.72
==== ==== ==== ==== ====