Exhibit 12.1

Ameren Corporation

Computation of Ratio of Earnings to Fixed Charges

(Thousands of Dollars, Except Ratios)

	Year Ended December 31,
	2007		2008		2009		2010(a)		2011(b)
Net income from continuing operations attributable to Ameren Corporation	$	617,804	$	605,189	$	612,313	$	138,678	$	518,945
Add- Net income attributable to noncontrolling interest		27,266		28,422		2,007		3,366		1,061
Add- Taxes based on income		330,141		326,736		332,128		325,320		310,110
Net income before income taxes and noncontrolling interests		975,211		960,347		946,448		467,364		830,116
Add- fixed charges:
Interest on short-term and long-term debt (c)		421,406		440,507		518,149		511,468		464,522
Estimated interest cost within rental expense		5,020		6,510		8,341		8,593		8,196
Amortization of net debt premium, discount, and expenses		18,638		19,716		16,183		14,337		13,312
Subsidiary preferred stock dividends		10,871		10,357		9,874		8,278		6,028
Adjust preferred stock dividends to pretax basis		5,709		5,497		5,271		4,753		3,561
Total fixed charges		461,644		482,587		557,818		547,429		495,619
Less: Adjustment of preferred stock dividends to pretax basis		5,709		5,497		5,271		4,753		3,561
Earnings available for fixed charges	$	1,431,146	$	1,437,437	$	1,498,995	$	1,010,040	$	1,322,174
Ratio of earnings to fixed charges		3.10		2.97		2.68		1.84		2.67

^(a)  In the third quarter of 2010, Ameren Corporation recorded a goodwill and other impairment charge of $589 million. See Note 17 - Goodwill, Impairment and Other Charges under Part II, Item 8 of this Form 10-K for additional information.

^(b)  During 2011, Ameren Corporation recorded a charge to earnings of $125 million related to a loss on regulatory disallowance, charges related to the closure of two energy centers and asset impairments. See Note 17 - Goodwill, Impairment and Other Charges under Part II, Item 8 of this Form 10-K for additional information.

^(c)  Includes interest expense related to uncertain tax positions