Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Millions of Dollars)
					2002			2001		2000		1999		1998
Fixed charges, as defined:
	Interest on long-term debt				$	486		$	351	$	323	$	233	$	203
	Interest on short-term debt   and other interest					71			44		64		47		33
	Amortization of debt   discount, expense and   premium - net					25			17		5		4		2
	Interest on capital lease   obligations
			Charged to expense								4		9		8
			Capitalized										1		2
	Estimated interest   component of   operating rentals					39			36		25		20		18
	Preferred stock dividends of   subsidiaries on a   pre-tax basis					79			64		31		30		31
				Total fixed charges	$	700		$	512	$	452	$	344	$	297
Earnings, as defined:
	Net income (a)				$	436		$	167	$	491	$	492	$	379
	Preferred security dividend   requirements					67			52		26		26		25
	Less undistributed income   (loss) of equity   method investments					(23	)		20		74		56		3
						526			199		443		462		401
Add:
	Income taxes					210			261		294		174		259
	Amortization of capitalized   interest on capital   leases										2		2		2
	Total fixed charges as   above (excluding   capitalized interest,   capitalized interest   on capital lease obligations   and preferred stock   dividends of subsidiaries   on a pre-tax basis)					600			419		405		307		257
				Total earnings	$	1,336		$	879	$	1,144	$	945	$	919
Ratio of earnings to fixed   charges (b)						1.9			1.7		2.5		2.7		3.1
Ratio of earnings to combined   fixed charges and preferred   stock dividends (b) (c)						1.9			1.7		2.5		2.7		3.1
(a)		Net income excludes extraordinary item, minority interest and the cumulative effect of a change in accounting principle.
(b)		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.
(c)		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.