Exhibit 12(b) PENNSYLVANIA POWER & LIGHT COMPANY AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Thousands of Dollars) 1995 1994(a) 1993 1992 1991 Fixed charges, as defined: Interest on long-term debt .................. $213,413 $214,390 $225,800 $240,260 $232,092 Interest on short-term debt and other interest ....................... 18,043 18,108 12,645 11,955 20,875 Amortization of debt discount, expense and premium - net.......................... 2,344 2,151 1,798 1,447 1,379 Interest on capital lease obligations Charged to expense ...................... 14,385 11,097 9,059 10,473 20,518 Capitalized ............................. 1,619 1,037 927 1,618 2,894 Estimated interest component of operating rentals ......................... 8,134 6,016 5,411 5,357 4,854 Proportionate share of fixed charges of 50-percent-or-less-owned persons ................................... 1,014 1,142 1,299 1,456 1,567 Total fixed charges ................. $258,952 $253,941 $256,939 $272,566 $284,179 Earnings, as defined: Net income .................................. $352,084 $243,443 $348,126 $346,724 $348,414 Less undistributed income of less than 50-percent-owned persons ............ - 352,084 243,443 348,126 346,724 348,414 Add (Deduct): Federal income taxes ........................ 195,028 198,777 162,795 144,546 114,904 State income taxes .......................... 62,388 76,903 63,508 64,648 49,534 Deferred income taxes ....................... 15,018 (45,198) 22,367 33,175 51,772 Investment tax credit - net ................. (10,814) (12,253) (13,506) (14,029) 1,156 Income taxes on other income and deductions - net .......................... 25,410 (38,437) (1,280) 322 (903) Amortization of capitalized interest on capital leases ................ 5,510 9,271 11,696 12,820 16,965 Total fixed charges as above (excluding capitalized interest on capital lease obligations) ............. 257,333 252,904 256,012 270,948 281,285 Total earnings ...................... $901,957 $685,410 $849,718 $859,154 $863,127 Ratio of earnings to fixed charges ..................................... 3.48 2.70 3.31 3.15 3.04 <FN> (a) Restated to reflect the retroactive dividend of PMDC to Resources.