Exhibit 12(e)

LOUISVILLE GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES
(Millions of Dollars)
				Successor				Predecessor
				6 Months		2 Months		10 Months
				Ended		Ended		Ended
				June 30,		Dec. 31,		Oct. 31,			Year Ended December 31,
				2011		2010		2010		2009		2008		2007		2006
Earnings, as defined:
	Income Before Income Taxes			$	93	$	29	$	167	$	142	$	131	$	179	$	179
	Mark to market impact of derivative
		instruments					1		(20)		(20)		35
					93		30		147		122		166		179		179
	Total fixed charges as below				24		8		40		46		60		53		47
			Total earnings	$	117	$	38	$	187	$	168	$	226	$	232	$	226
Fixed charges, as defined:
	Interest charges (a)			$	23	$	8	$	38	$	44	$	58	$	50	$	41
	Estimated interest component of
	operating rentals				1				2		2		2		2		2
	Preferred stock dividends														1		4
			Total fixed charges (b)	$	24	$	8	$	40	$	46	$	60	$	53	$	47
Ratio of earnings to fixed charges					4.9		4.8		4.7		3.7		3.8		4.4		4.8

(a)	Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.
(b)	Interest on unrecognized tax benefits is not included in fixed charges.