Exhibit 12(d)
PPL MONTANA, LLC AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
				2001		2000
Fixed charges, as defined:
	Interest expense on credit facility		$	2	$	16
	Amortization of financing costs			1		3
	Amortization of wholesale energy commitments			6		7
	Interest with rental expense			15		6
		Total fixed charges	$	24	$	32
Earnings, as defined:
	Net income		$	103	$	87
Add (Deduct):
	Income taxes			68		58
	Total fixed charges as above			24		32
		Total earnings	$	195	$	177
Ratio of earnings to fixed charges				8.1		5.5
(a) 2000 net income excluding extraordinary item.