Exhibit 12.3

Central Illinois Public Service Company
Computation of Ratios of Earnings to Fixed Charges and Combined
Fixed Charges and Preferred Stock Dividend Requirements
(Thousands of Dollars, Except Ratios)

	Year Ended December 31,
	2003		2004		2005		2006		2007
Net income from continuing operations	$	28,474	$	32,463	$	42,998	$	37,372	$	16,535
Add - Taxes based on income		6,245		16,135		24,596		15,539		9,322
Net income before income taxes		34,719		48,598		67,594		52,911		25,857
Add - fixed charges:
Interest on long-term debt		33,118		31,372		28,969		29,932		36,670	(1)
Estimated interest cost within rental expense		-		-		-		726		899
Amortization of net debt premium, discount, and expenses		935		903		953		1,025		1,105
Total fixed charges		34,053		32,275		29,922		31,683		38,674
Earnings available for fixed charges		68,772		80,873		97,516		84,594		64,531
Ratio of earnings to fixed charges		2.01		2.50		3.25		2.67		1.66
Earnings required for combined fixed charges and
preferred stock dividends:
Preferred stock dividends		2,973		2,512		2,512		2,512		2,512
Adjustment to pretax basis		651		1,248		1,437		1,045		1,416
		3,624		3,760		3,949		3,557		3,928
Combined fixed charges and preferred stock dividend requirements	$	37,677	$	36,035	$	33,871	$	35,240	$	42,602
Ratio of earnings to combined fixed charges and preferred stock dividend requirements		1.82		2.24		2.87		2.40		1.51

⁽¹⁾ Includes FIN 48 interest expense