EXHIBIT 12.1

CIPS Ratio of Earnings to Combined Fixed Charges and Preferred Dividends
(Thousands of Dollars, Except Ratios)

	Three Months Ended March 31,						Year Ended December 31,
	2009			2010			2005		2006		2007			2008			2009
Net income from continuing operations	$	28,897		$	9,291		$	42,998	$	37,372	$	16,535		$	14,739		$	28,897
Add- Taxes based on income	16,265			7,343			24,596		15,539		9,322			5,199			16,265
Net income before income taxes	45,162			16,634			67,594		52,911		25,857			19,938			45,162
Add- fixed charges:
Interest on short-term and long-term debt	28,315		(1)	7,172		(1)	28,969		29,932		36,670		(1)	29,422		(1)	28,315		(1)
Estimated interest cost within rental expense	1,216			299			—		726		899			760			1,216
Amortization of net debt premium, discount, and expenses	881			189			953		1,025		1,105			1,024			881
Total fixed charges	30,412			7,660			29,922		31,683		38,674			31,206			30,412
Earnings available for fixed charges	75,574			24,294			97,516		84,594		64,531			51,144			75,574
Ratio of earnings to fixed charges	2.48			3.17			3.25		2.67		1.66			1.63			2.48
Earnings required for combined fixed charges and preferred stock dividends:
Preferred stock dividends	2,512			628			2,512		2,512		2,512			2,512			2,512
Adjustment to pretax basis	1,414			496			1,437		1,045		1,416			886			1,414
	3,926			1,124			3,949		3,557		3,928			3,398			3,926
Combined fixed charges and preferred stock dividend requirements	$	34,338		$	8,784		$	33,871	$	35,240	$	42,602		$	34,604		$	34,338
Ratio of earnings to combined fixed charges and preferred stock dividend requirements	2.20			2.76			2.87		2.40		1.51			1.47			2.20

(1)Includes interest expense related to uncertain tax positions.