Exhibit 12.1

OTTER TAIL CORPORATION
CALCULATION OF RATIOS

												Six Months Ended
		Year Ended December 31,										June 30,
		1999 (a)		2000		2001		2002		2003		2003		2004
Earnings:
Pretax income from continuing operations		$	69,784,257	$	59,397,298	$	63,685,762	$	66,188,568	$	54,586,338	$	25,669,069	$	23,378,823
Plus fixed charges (see below)			18,069,648		20,055,142		19,671,799		22,612,037		22,786,790		11,447,449		11,175,119
Total earnings	1	$	87,853,905	$	79,452,440	$	83,357,561	$	88,800,605	$	77,373,128	$	37,116,518	$	34,553,942
Fixed Charges
Interest charges		$	14,712,507	$	16,559,112	$	15,801,291	$	17,965,795	$	17,498,269	$	8,799,643	$	8,438,545
Amortization of debt expense, premium and discount			593,271		576,340		568,533		772,242		982,521		494,806		490,074
Estimated interest component of operating leases			2,763,870		2,919,690		3,301,975		3,874,000		4,306,000		2,153,000		2,246,500
Total fixed charges	2	$	18,069,648	$	20,055,142	$	19,671,799	$	22,612,037	$	22,786,790	$	11,447,449	$	11,175,119
Preferred Dividend Requirement		$	3,345,365	$	2,646,749	$	2,836,621	$	985,444	$	951,877	$	483,567	$	501,278
Total Fixed Charges and Preferred Dividend Requirement	3	$	21,415,013	$	22,701,891	$	22,508,420	$	23,597,481	$	23,738,667	$	11,931,016	$	11,676,397
Ratio of Earnings to Fixed Charges			4.86		3.96		4.24		3.93		3.40		3.24		3.09
(1) Divided by (2)
Ratio of Earnings to Fixed Charges and Preferred Dividend Requirements			4.10		3.50		3.70		3.76		3.26		3.11		2.96
(1) Divided by (3)

(a) Pretax income from continuing operations includes a pre-tax gain of approximately $14.5 million from the sale of radio station assets in October 1999.