<DOCUMENT>
<TYPE>EX-12
<SEQUENCE>5
<FILENAME>dex12.txt
<DESCRIPTION>COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
<TEXT>
<PAGE>
EXHIBIT 12
Alabama Gas Corporation
Computation of ratio of earnings to fixed charges
(In thousands, except for ratios)
<TABLE>
<CAPTION>
Years ended September 30, Twelve months
----------------------------------------------- ended
2000 1999 1998 1997 1996 June 30, 2001
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<S> <C> <C> <C> <C> <C> <C>
Earnings, as defined:
Income from continuing operations
before provision for income taxes $40,646 $36,460 $31,987 $28,688 $26,008 $40,027
Add:
Interest, net of amounts
capitalized (1) 9,550 10,218 10,052 10,619 9,296 11,066
Appropriate portion of rent
expense (1/3) 736 693 705 760 715 730
Dividends on preferred stock of
subsidiary 0 0 0 0 0 0
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Total earnings, as defined $50,932 $47,371 $42,744 $40,067 $36,019 $51,823
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Fixed charges, as defined:
Interest(1) $ 9,870 $10,441 $10,994 $10,969 $ 9,585 $11,565
Appropriate portion of rent
expense(1/3) 736 693 705 760 715 730
Dividends on preferred stock of
subsidiary 0 0 0 0 0 0
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Total fixed charges, as defined: $10,606 $11,134 $11,699 $11,729 $10,300 $12,295
======= ======= ======= ======= ======= =======
Ratio of earnings to fixed charges 4.80 4.25 3.65 3.42 3.50 4.21
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</TABLE>
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(1) Includes amortization of debt discount and expense.
</TEXT>
</DOCUMENT>