Exhibit 12(b) SOUTHERN INDIANA GAS & ELECTRIC COMPANY Ratio of Earnings to Fixed Charges (SEC METHOD) FOR TWELVE MONTHS ENDED MARCH 31, 1999 Earnings as defined Net Income 43,012,272 Add: Income Taxes: Current: Federal 20,374,034 State 2,958,746 Deferred (net): Federal 3,371,190 State 847,960 Deferred investment tax credit, net (1,442,997) Interest on long-term debt, less AFUDC borrowed 15,196,373 Amortization of premium, discount and expense on debt 699,000 Other Interest 2,805,549 One-third of rentals charged to operating expense 548,087 ----------- Earnings as defined 88,370,214 =========== Fixed Charges as Defined Interest on long-term debt 16,627,689 Amortization of premium, discount, and expense on debt 699,000 Other Interest 2,805,549 One-third of rentals charged to operating expense 548,087 ----------- Fixed charges as defined 20,680,325 =========== Ratio of Earnings to Fixed Charges 4.2732 ===========