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 June 30,			12 Months Ended December 31, (c)
					2002			2001		2000		1999		1998		1997
Fixed charges, as defined:
	Interest on long-term debt				$	373		$	351	$	323	$	233	$	203	$	196
	Interest on short-term debt and other interest					22			44		64		47		33		26
	Amortization of debt discount, expense and   premium - net					22			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					76			64		31		30		31		33
				Total fixed charges	$	529		$	512	$	452	$	344	$	297	$	283
Earnings, as defined:
	Net income (loss) (a)				$	(52	)	$	167	$	491	$	492	$	379	$	296
	Preferred security dividend requirements					65			52		26		26		25		24
	Less undistributed income (loss) of equity method   investments					51			20		74		56		3		(25	)
						(38	)		199		443		462		401		345
Add:
	Income taxes					166			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)					427			419		405		307		257		239
				Total earnings	$	555		$	879	$	1,144	$	945	$	919	$	824
Ratio of earnings to fixed charges						1.0			1.7		2.5		2.7		3.1		2.9
Ratio of earnings to combined fixed charges and preferred   stock dividends (b)						1.0			1.7		2.5		2.7		3.1		2.9
(a)		Net income (loss) 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.