Exhibit 12(b)
PPL ENERGY SUPPLY, LLC AND SUBSIDIARIES COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (Millions of Dollars)
	2008		2007			2006			2005		2004
Earnings, as defined:
Income from Continuing Operations Before Income Taxes and Minority Interest	$	1,109	$	1,118		$	866		$	649	$	851
Less earnings of equity method investments		3		5			7			7		5
Distributed income from equity method investments		3		7			3			5		5
		1,109		1,120			862			647		851
Total fixed charges as below		390		388			326			307		289
Less:
Capitalized interest		56		54			21			7		5
Preferred security distributions
Interest expense related to discontinued operations				27			29			28		22
Total fixed charges included in Income from Continuing Operations Before Income Taxes and Minority Interest		334		307			276			272		262
Total earnings	$	1,443	$	1,427		$	1,138		$	919	$	1,113
Fixed charges, as defined:
Interest on long-term debt	$	345	$	353		$	296		$	259	$	255
Interest on short-term debt and other interest		27		24			16			26		23
Amortization of debt discount, expense and premium - net		2		(3	)		(1	)		7		(6	)
Estimated interest component of operating rentals		15		14			15			15		17
Preferred securities distributions of subsidiaries on a pre-tax basis
Fixed charges of majority-owned share of 50% or less-owned persons		1
Total fixed charges (a)	$	390	$	388		$	326		$	307	$	289
Ratio of earnings to fixed charges		3.7		3.7			3.5			3.0		3.9

(a) Interest on unrecognized tax benefits is not included in fixed charges.