Exhibit 12.1

OTTER TAIL CORPORATION
CALCULATION OF RATIOS

												Three Months Ended
		Year Ended December 31,										March 31,
		1999 (a)		2000		2001		2002		2003		2003		2004
Earnings:
Pretax income from continuing operations		$	69,784,257	$	59,397,298	$	63,685,762	$	66,188,568	$	54,586,338	$	14,240,454	$	11,668,253
Plus fixed charges (see below)			18,069,648		20,055,142		19,671,799		22,612,037		22,786,790		5,698,134		5,615,042
Total earnings	1	$	87,853,905	$	79,452,440	$	83,357,561	$	88,800,605	$	77,373,128	$	19,938,588	$	17,283,295
Fixed Charges
Interest charges		$	14,712,507	$	16,559,112	$	15,801,291	$	17,965,795	$	17,498,269	$	4,370,997	$	4,246,391
Amortization of debt expense, premium and discount			593,271		576,340		568,533		772,242		982,521		250,637		245,401
Estimated interest component of operating leases			2,763,870		2,919,690		3,301,975		3,874,000		4,306,000		1,076,500		1,123,250
Total fixed charges	2	$	18,069,648	$	20,055,142	$	19,671,799	$	22,612,037	$	22,786,790	$	5,698,134	$	5,615,042
Preferred Dividend Requirement		$	3,345,365	$	2,646,749	$	2,836,621	$	985,444	$	951,877	$	247,663	$	247,307
Total Fixed Charges and Preferred Dividend Requirement	3	$	21,415,013	$	22,701,891	$	22,508,420	$	23,597,481	$	23,738,667	$	5,945,797	$	5,862,349
Ratio of Earnings to Fixed Charges			4.86		3.96		4.24		3.93		3.40		3.50		3.08
(1) Divided by (2)
Ratio of Earnings to Fixed Charges and Preferred Dividend Requirements			4.10		3.50		3.70		3.76		3.26		3.35		2.95
(1) Divided by (3)

(a) Pretax income from continuing operations includes a pre-tax gain of approximately $14.5 million from the sale of radio station assets in October 1999.