EXHIBIT 12-1





                       MCN CORPORATION AND SUBSIDIARIES
               COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
                            (Thousands of Dollars)


                                                Twelve Months      Twelve Months      Twelve Months
                                                    Ended              Ended              Ended 
                                             September 30, 1995  December 31, 1994  December 31, 1993
                                             ------------------  -----------------  -----------------
                                                                                    
EARNINGS AS DEFINED (1)
Pre-tax income (2) .......................          $102,835          $105,887          $106,987
Fixed charges (3) ........................            76,436            60,910            48,955
                                                    --------          --------          --------
  Earnings as defined ....................          $179,271          $166,797          $155,942
                                                    ========          ========          ========

FIXED CHARGES AS DEFINED (1) (4)
Interest, expensed .......................          $ 55,893          $ 48,948          $ 38,728
Interest, capitalized ....................             6,275             2,928             3,966
Amortization of debt discounts, premium
  and expense ............................             1,600             1,332             1,153
Interest implicit in rentals .............             8,865             7,773             6,350
Preferred securities dividend requirements
  of subsidiaries ........................             8,965             2,203             1,086
                                                    --------          --------          --------
  Fixed charges as defined ...............          $ 81,598          $ 63,184          $ 51,283
                                                    ========          ========          ========

Ratio of Earnings to Fixed Charges .......              2.20              2.64              3.04
                                                    ========          ========          ========
<FN>
Notes:
(1)      Earnings and fixed charges are defined and computed in accordance 
         with Item 503 of Regulation S-K.

(2)      This amount represents the aggregate of (a) the pre-tax income of MCN
         and its majority-owned subsidiaries, (b) MCN's share of pre-tax
         income of its 50% owned companies, and (c) any income actually
         received from less than 50% owned companies.

(3)      Fixed charges added to earnings are adjusted to exclude interest
         capitalized during the period for nonutility companies and the
         preferred securities dividend requirements of MichCon included in
         fixed charges but not deducted in the determination of pre-tax
         income.

(4)      Fixed charges represent (a) interest, whether expensed or
         capitalized, (b) amortization of debt discount, premium and expense,
         (c) an estimate of interest implicit in rentals, and (d) preferred
         securities dividend requirements of subsidiaries (MichCon and MCN
         Michigan Limited Partnership), increased to reflect the pre-tax
         earnings requirement for MichCon.