Exhibit 12(a)
PPL CORPORATION AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS (Millions of Dollars)
	3 Months Ended March 31,		12 Months Ended December 31,
	2008		2007		2006		2005		2004			2003
Earnings, as defined:
Net income (a)	$	246	$	1,016	$	842	$	695	$	681		$	772
Preferred security dividend requirements		5		18		14		2		2			29
Less undistributed income (loss)   of equity method investments						3		2		(1	)		(5	)
Income taxes		129		270		268		128		196			162
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)		113		495		476		505		519			494
Total earnings	$	493	$	1,799	$	1,597	$	1,328	$	1,399		$	1,462
Fixed charges, as defined:
Interest on long-term debt	$	121	$	522	$	482	$	465	$	491		$	417
Interest on short-term debt and   other interest		5		35		13		29		20			25
Amortization of debt discount,   expense and premium - net		4		8		11		23		8			41
Estimated interest component of   operating rentals		5		21		29		32		34			45
Preferred securities distributions of   subsidiaries on a pre-tax basis		7		23		24		5		5			45
Total fixed charges (b)	$	142	$	609	$	559	$	554	$	558		$	573
Ratio of earnings to fixed charges		3.5		3.0		2.9		2.4		2.5			2.6
Ratio of earnings to combined fixed charges   and preferred stock dividends (c)		3.5		3.0		2.9		2.4		2.5			2.6

(a)	Net income excludes minority interest, 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.