Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Millions of Dollars)
	6 Months Ended June 30,		12 Months Ended December 31,
	2007		2006		2005		2004			2003			2002
Earnings, as defined:
Net income (a)	$	473	$	846	$	704	$	689		$	786		$	407
Preferred security dividend requirements		9		14		2		2			29			66
Less undistributed income (loss)   of equity method investments				3		2		(1	)		(5	)		(9	)
Income taxes		107		273		127		206			168			219
Total fixed charges as below   (excluding capitalized interest,   preferred security distributions of   subsidiaries on a pre-tax basis and   interest expense related to discontinued   operations)		251		480		512		525			500			579
Total earnings	$	840	$	1,610	$	1,343	$	1,423		$	1,488		$	1,280
Fixed charges, as defined:
Interest on long-term debt	$	250	$	482	$	465	$	491		$	417		$	486
Interest on short-term debt and   other interest		12		13		29		20			25			70
Amortization of debt discount,   expense and premium - net		4		11		23		8			41			25
Estimated interest component of   operating rentals		9		29		32		34			45			38
Preferred securities distributions of   subsidiaries on a pre-tax basis		11		24		5		5			45			79
Total fixed charges (b)	$	286	$	559	$	554	$	558		$	573		$	698
Ratio of earnings to fixed charges		2.9		2.9		2.4		2.6			2.6			1.8
Ratio of earnings to combined fixed charges   and preferred stock dividends (c)		2.9		2.9		2.4		2.6			2.6			1.8

(a)	Net income excludes minority interest, income (loss) from discontinued operations and the cumulative effects of changes in accounting principles.
(b)	Interest on unrecognized tax benefits is not included in fixed charges.
(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.