Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Millions of Dollars)
				12 Months Ended March 31,			12 Months Ended December 31, (c)
					2002		2001		2000		1999		1998		1997
Fixed charges, as defined:
	Interest on long-term debt				$	364	$	351	$	323	$	233	$	203	$	196
	Interest on short-term debt and   other interest					27		44		64		47		33		26
	Amortization of debt discount,   expense and premium - net					20		17		5		4		2		2
	Interest on capital lease obligations
		Charged to expense								4		9		8		9
		Capitalized										1		2		2
	Estimated interest component of   operating rentals					36		36		25		20		18		15
	Preferred stock dividends of   subsidiaries on a pre-tax   basis					75		64		31		30		31		33
			Total fixed charges		$	522	$	512	$	452	$	344	$	297	$	283
Earnings, as defined:
	Net income (a)				$	91	$	167	$	491	$	492	$	379	$	296
	Preferred security dividend   requirements					63		52		26		26		25		24
	Less undistributed income of   equity method investments					5		20		74		56		3		(25	)
						149		199		443		462		401		345
Add:
	Income taxes					197		261		294		174		259		238
	Amortization of capitalized interest on capital leases									2		2		2		2
	Total fixed charges as above   (excluding capitalized   interest on capital lease   obligations and preferred   stock dividends of   subsidiaries on a pre-tax   basis)					447		448		421		314		265		248
			Total earnings		$	793	$	908	$	1,160	$	952	$	927	$	833
Ratio of earnings to fixed charges						1.5		1.8		2.6		2.8		3.1		2.9
Ratio of earnings to combined fixed   charges and preferred stock   dividends (b)						1.5		1.8		2.6		2.8		3.1		2.9
(a)	Net income excludes extraordinary items, minority interest and the cumulative effect of a change in accounting principle.
(b)	PPL, the parent holding company, does not have any preferred stock outstanding; therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.
(c)	Ratio of earnings to fixed charges for years 2001 and prior were recalculated to give proper effect of preferred security dividends of subsidiaries on a pre-tax basis.