EXHIBIT 12 PG&E GAS TRANSMISSION, NORTHWEST CORPORATION SEC FILING - FORM 10-Q - First Quarter 2000 EXHIBIT 12 - RATIO OF EARNINGS TO FIXED CHARGES For the Three Months Ended ---------------------------------- Ratio of Earnings to Fixed Charges 2000 1999 - ---------------------------------- ----------- ---------- Earnings Net income 13.6 13.1 Adjustments: Income taxes 8.6 8.1 Fixed charges (as below) 10.6 10.6 ----------- ---------- Total adjusted earnings 32.8 31.8 =========== ========== Fixed charges: Net interest expense 10.4 10.2 Adjustments: Interest component of rents 0.0 0.0 AFUDC debt 0.2 0.4 ----------- ---------- Total fixed charges 10.6 10.6 =========== ========== Ratio of earnings to fixed charges 3.1 3.0 =========== ==========