. . . Exhibit 12.1 SEMCO ENERGY, Inc. Ratio of Earnings to Fixed Charges (Thousands of Dollars) Years ended December 31, --------------------------------------------------------- Description 2005 2004 2003 2002 2001 - ------------------------------------------------- --------- -------- ------- -------- --------- Earnings as defined (a) Income (loss) before income taxes, dividends on trust preferred securities, discontinued operations & extraordinary items $ 17,758 $ 3,689 $ (864) $ 33,777 $ 21,338 Fixed charges as defined 43,999 45,262 47,208 43,956 44,142 Add distributed earnings of equity investees 1,310 772 1,117 1,154 873 Less reported earnings of equity investees (1,623) (1,755) (1,604) (1,506) (1,356) Less preference securities dividend requirements of consolidated subsidiaries - - (6,616) (13,232) (13,235) -------- ------- ------- -------- -------- Earnings as defined $ 61,444 $47,968 $39,241 $ 64,149 $ 51,762 ======== ======= ======= ======== ======== Fixed charges as defined (a) Interest expensed and capitalized $ 39,551 $40,663 $37,316 $ 29,817 $ 30,044 Amortization of debt costs and debt basis adjustments 3,507 3,630 2,369 158 27 Estimate of Interest within rental expense 941 969 907 749 836 Preference securities dividend requirements of consolidated subsidiaries - - 6,616 13,232 13,235 -------- ------- ------- -------- -------- Fixed charges as defined $ 43,999 $45,262 $47,208 $ 43,956 $ 44,142 ======== ======= ======= ======== ======== Ratio of earnings to fixed charges 1.40 1.06 (b) 1.46 1.17 ======== ======= ======= ======== ======== Notes: (a) "Earnings" and "fixed charges" as defined in instructions for Item 503 of Regulation S-K. (b) For 2003, the ratio of earnings to fixed charges was less than 1:1. The amount of earnings that would be required to attain a ratio of 1:1 was approximately $8.0 million.