Exhibit 12(e)
LOUISVILLE GAS AND ELECTRIC COMPANY
COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
PREFERRED STOCK DIVIDENDS
(Millions of Dollars)
						Successor						Predecessor
						9 Months		Year		2 Months		10 Months
						Ended		Ended		Ended		Ended
						Sep. 30,		Dec. 31,		Dec. 31,		Oct. 31,			Year Ended December 31,
						2012		2011		2010		2010		2009		2008		2007
Earnings, as defined:
		Income Before Income Taxes				$	148	$	195	$	29	$	167	$	142	$	131	$	179
		Mark to market impact of derivative
			instruments								1		(20)		(20)		35
							148		195		30		147		122		166		179
		Total fixed charges as below					32		46		8		40		46		60		53
				Total earnings		$	180	$	241	$	38	$	187	$	168	$	226	$	232
Fixed charges, as defined:
		Interest charges (a)				$	31	$	44	$	8	$	38	$	44	$	58	$	50
		Estimated interest component of
		operating rentals					1		2				2		2		2		2
		Preferred stock dividends																	1
				Total fixed charges and preferred
					stock dividends	$	32	$	46	$	8	$	40	$	46	$	60	$	53
Ratio of earnings to combined fixed
	charges and preferred stock dividends						5.6		5.2		4.8		4.7		3.7		3.8		4.4

(a) Includes interest on long-term and short-term debt, as well as amortization of debt discount, expense and premium - net.

187