Exhibit 12.1

Ameren Corporation

Computation of Ratio of Earnings to Fixed Charges

(Thousands of Dollars, Except Ratios)

	Year Ended December 31,
	2004			2005			2006			2007			2008
Net income from continuing operations	$	529,884		$	605,725		$	546,738		$	617,804		$	605,189
Less- Change in accounting principle		—			(22,135	)		—			—			—
Less- Minority interest		(4,201	)		(3,231	)		(27,135	)		(27,266	)		(28,422	)
Add- Taxes based on income		282,558			356,016			283,825			330,141			326,736
Net income before income taxes, change in accounting principle and minority interest		816,643			987,107			857,698			975,211			960,347
Add- fixed charges:
Interest on long term debt		269,868			297,822			345,410			421,406	(1)		440,507	(1)
Estimated interest cost within rental expense		3,185			4,208			4,081			5,020			6,510
Amortization of net debt premium, discount, and expenses		12,983			14,687			15,341			18,638			19,716
Subsidiary preferred stock dividends		11,089			12,745			10,936			10,871			10,357
Adjust preferred stock dividends to pre-tax basis		5,913			7,227			5,565			5,709			5,497
Total fixed charges		303,038			336,689			381,333			461,644			482,587
Less: Adjustment of preferred stock dividends to pre-tax basis		5,913			7,227			5,565			5,709			5,497
Earnings available for fixed charges	$	1,113,768		$	1,316,569		$	1,233,466		$	1,431,146		$	1,437,437
Ratio of earnings to fixed charges		3.67			3.91			3.23			3.10			2.97

⁽¹⁾ Includes FIN 48 interest expense