Exhibit 12 SCANA CORPORATION CALCULATIONS OF BOND RATIO FOR THE YEAR ENDED DECEMBER 31, 1995 (Thousands of Dollars) Net earnings(1) $377,720 Divide by annualized interest charges on: Bonds authenticated under the Company's First and Refunding Mortgage Bond Indenture $37,774 Other indebtedness(1) $57,260 Total annualized interest charges $ 95,034 Bond ratio 3.97 (1) As defined under the Company's First and Refunding Mortgage Bond Indenture (Old Mortgage). 77 SCANA CORPORATION CALCULATION OF NEW BOND RATIO FOR THE YEAR ENDED DECEMBER 31, 1995 (Thousands of Dollars) Net earnings(1) $503,940 Divide by annualized interest charges on: Bonds authenticated under the Company's First Mortgage Bond Indenture $94,912 Other indebtedness(1) $ - Total annualized interest charges $ 94,912 New Bond Ratio 5.31 (1) As defined under the Company's Collateral Trust Mortgage Indenture (New Mortgage). 78 SCANA CORPORATION CALCULATIONS OF PREFERRED STOCK RATIO FOR THE YEAR ENDED DECEMBER 31, 1995 (Thousands of Dollars) Net Earnings (1) $276,870 Divide by annualized interest charges on: Bonds authenticated under SCE&G's mortgage bond indentures $94,912 Other indebtedness (1) $ 6,621 Preferred Dividend Requirements $ 5,629 Total annualized interest charges $107,162 Preferred stock ratio 2.58 (1) As defined under SCE&G's Restated Articles of Incorporation. 79 <PAGE 3> SCANA CORPORATION COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES For Each of the Five Years Ended December 31, 1995 (Thousands of Dollars) Years Ended December 31, 1995 1994 1993 1992 1991 Fixed Charges as defined: Interest on long-term debt.................. $113,882 $106,573 $ 96,916 $ 92,178 $ 87,854 Amortization of debt premium, discount and expense (net).............................. 2,486 2,231 1,779 874 836 Other interest expense...................... 17,102 6,749 8,672 8,819 7,648 Interest component of rentals............... 2,771 2,717 2,853 929 897 Total Fixed Charges (A)................. $136,241 $118,270 $110,220 $102,800 $ 97,235 Earnings, as defined: Income...................................... $174,026 $121,407 $171,457 $124,140 $129,671 Income taxes................................ 99,116 62,488 90,714 60,291 68,687 Total fixed charges above................... 136,241 118,270 110,220 102,800 97,235 Total Earnings (B)...................... $409,383 $302,165 $372,391 $287,231 $295,593 Ratio of Earnings to fixed charges (B/A)...... 3.00 2.55 3.38 2.79 3.04 80