Exhibit 12(d)
LOUISVILLE GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
			3 Months
			Ended
			March 31,		Years Ended December 31,
			2016		2015		2014		2013		2012		2011
Earnings, as defined:
	Income Before Income Taxes		$	91	$	299	$	272	$	257	$	192	$	195
	Total fixed charges as below			18		61		51		36		44		46
		Total earnings	$	109	$	360	$	323	$	293	$	236	$	241
Fixed charges, as defined:
	Interest charges (a) (b)		$	17	$	57	$	49	$	34	$	42	$	44
	Estimated interest component of
	operating rentals			1		4		2		2		2		2
		Total fixed charges	$	18	$	61	$	51	$	36	$	44	$	46
Ratio of earnings fixed charges				6.1		5.9		6.3		8.1		5.4		5.2

(a)	Includes interest on long-term and short-term debt, as well as amortization of loss on reacquired debt and amortization of debt discount, expense and premium - net.
(b)	Includes a credit for amortization of a fair market value adjustment of $7 million in 2013.

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