EXHIBIT 12.1 MIRANT MID-ATLANTIC, LLC AND SUBSIDIARIES STATEMENT REGARDING RATIO OF EARNINGS TO FIXED CHARGES (In millions, except Ratio) For the three For the period from months ended July 12, 2000 (inception) to March 31, 2001 December 31, 2000 -------------- ---------------------------- Earnings, as defined: Income (loss) from continuing operations before income taxes and minority interest $ 68 $ 5 Add: Fixed charges 22 3 ------- ------ Total earnings, as defined $ 90 $ 8 ------- ------ Fixed charges, as defined: Interest expensed $ 2 -- Amortized capitalized expenses related to indebtedness -- -- Interest element of rentals 20 3 ------- ------ Total fixed charges, as defined $ 22 $ 3 ------- ------ Ratio of earnings to fixed charges 4.098 2.508 ------- ------