Exhibit 12(b)

FLORIDA POWER & LIGHT COMPANY
COMPUTATION OF RATIOS

	Years Ended December 31,
	2003		2002		2001		2000		1999
	(millions of dollars)
RATIO OF EARNINGS TO FIXED CHARGES
Earnings, as defined:
Net income	$	755	$	732	$	694	$	622	$	591
Income taxes		403		413		383		341		324
Fixed charges, as below		186		177		198		192		174
Total earnings, as defined	$	1,344	$	1,322	$	1,275	$	1,155	$	1,089
Fixed charged, as defined:
Interest charges	$	173	$	166	$	187	$	176	$	163
Rental interest factor		8		8		6		7		3
Fixed charges included in nuclear fuel cost		1		3		5		9		8
Capitalized interest		4		-		-		-		-
Total fixed charges, as defined	$	186	$	177	$	198	$	192	$	174
Ratio of earnings to fixed charges		7.23		7.47		6.44		6.02		6.26
RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
Earnings, as defined:
Net income	$	755	$	732	$	694	$	622	$	591
Income taxes		403		413		383		341		324
Fixed charges, as below		186		177		198		192		174
Total earnings, as defined	$	1,344	$	1,322	$	1,275	$	1,155	$	1,089
Fixed charged, as defined:
Interest charges	$	173	$	166	$	187	$	176	$	163
Rental interest factor		8		8		6		7		3
Fixed charges included in nuclear fuel cost		1		3		5		9		8
Capitalized interest		4		-		-		-		-
Total fixed charges, as defined		186		177		198		192		174
Non-tax deductible preferred stock dividends		13		15		15		15		15
Ratio of income before income taxes to net income		1.53		1.56		1.55		1.55		1.55
Preferred stock dividends before income taxes		20		23		23		23		23
Combined fixed charges and preferred stock dividends	$	206	$	200	$	221	$	215	$	197
Ratio of earnings to combined fixed charges     and preferred stock dividends		6.52		6.61		5.77		5.37		5.53