EXHIBIT 12.1
Duquesne Light Company and Subsidiary
Calculation of Ratio of Earnings to Fixed Charges
(Thousands of Dollars)
Year Ended December 31,
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1994 1993 1992 1991 1990
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FIXED CHARGES:
Interest on long-term debt $ 94,646 $102,938 $119,179 $127,606 $135,850
Other interest 1,095 2,387 1,749 1,773 4,939
Amortization of debt discount, premium and
expense-net 6,381 5,541 4,223 3,892 4,039
Portion of lease payments representing an
interest factor 44,839 45,925 60,721 64,189 64,586
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Total Fixed Charges $146,961 $156,791 $185,872 $197,460 $209,414
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EARNINGS:
Income from continuing operations $147,449 $144,787 $149,768 $143,133 $135,456
Income taxes 87,897 75,042 107,999 101,073 84,478
Fixed charges as above 146,961 156,791 185,872 197,460 209,414
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Total Earnings $382,307 $376,620 $443,639 $441,666 $429,348
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RATIO OF EARNINGS TO FIXED CHARGES 2.60 2.40 2.39 2.24 2.05
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Duquesne's share of the fixed charges of an unaffiliated coal supplier, which
amounted to approximately $3.7 million for the year ended December 31,
1994, has been excluded from the ratio.