EX-12 3 aeex12.htm EXHIBIT 12 EXHIBIT 12

EXHIBIT 12

COMPUTATION IN SUPPORT OF RATIO OF EARNINGS TO FIXED CHARGES

For the Six Months ended June 30, 2002

(Dollar Amounts in Thousands)

Allegheny
Energy, Inc.

Earnings:

     Net income *

 $                72,129

     Plus:   Fixed charges (see below)

158,180

             Income taxes

40,240

             Amortization of capitalized interest

220

     Less:   Capitalized interest

(5,525)

             Preferred Dividends

(2,519)

             Income from unconsolidated equity
                investees

  

(1,793)

     Total Earnings

 $               260,932

Fixed Charges:

     Interest on long-term debt

 $               148,199

     Other interest

     Preferred dividends

3,946

     Estimated interest

       component of rentals

6,035

     Total Fixed Charges

 $               158,180

     Ratio of Earnings to Fixed Charges

1.65

* Net income excludes Minority Interest of $260 and Preferred Dividends of $2,519.