Exhibit 12.1 5/2/2008 ALABAMA POWER COMPANY Computation of ratio of earnings to fixed charges for the five years ended December 31, 2007 and the year to date March 31, 2008 Three Months Ended Year ended December 31, March 31, --------------------------------------------------------------------------- 2003 2004 2005 2006 2007 2008 --------------------------------Thousands of Dollars----------------------- EARNINGS AS DEFINED IN ITEM 503 OF REGULATION S-K: Earnings before income taxes $ 782,220 $ 819,955 $ 819,515 $ 875,256 $ 969,493 $214,128 Interest expense, net of amounts capitalized 215,858 211,373 215,431 254,229 275,814 69,510 Distributions on mandatorily redeemable preferred securities 15,255 0 0 0 0 0 AFUDC - Debt funds 6,421 6,856 8,173 7,939 17,990 5,134 ----------- ----------- ----------- ------------ ----------- --------- Earnings as defined $1,019,754 $1,038,184 $1,043,119 $ 1,137,424 $1,263,297 $288,772 =========== =========== =========== ============ =========== ========= FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K: Interest on long-term debt $ 183,953 $ 173,226 $ 186,542 $ 231,060 $ 250,512 $ 65,506 Interest on affiliated loans 274 16,479 16,563 16,764 15,369 2,934 Interest on interim obligations 388 465 1,063 1,873 1,915 302 Amort of debt disc, premium and expense, net 15,671 14,793 14,559 12,987 14,542 3,364 Other interest charges 21,993 13,266 4,877 (514) 11,467 2,539 Distributions on mandatorily redeemable preferred securities 15,255 0 0 0 0 0 ----------- ----------- ----------- ------------ ----------- --------- Fixed charges as defined $ 237,534 $ 218,229 $ 223,604 $ 262,170 $ 293,805 $ 74,645 =========== =========== =========== ============ =========== ========= RATIO OF EARNINGS TO FIXED CHARGES 4.29 4.76 4.67 4.34 4.30 3.87