Exhibit 12

EDISON INTERNATIONAL

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES AND PREFERRED AND PREFERENCE STOCK

(Thousands of Dollars)

	Year Ended December 31,
	2002(5)		2003(5)		2004		2005		2006
EARNINGS BEFORE INCOME TAXES AND FIXED CHARGES:
Income from continuing operations before fixed charges and taxes (1)	$	2,619,639	$	1,856,153	$	1,124,330	$	2,396,513	$	2,543,050
Add:
Rentals (2)		246,682		247,512		216,877		200,764		191,166
Allocable portion of interest on long-term contracts for the purchase of power (3)		1,616		1,568		1,515		1,457		1,393
Amortization of previously capitalized fixed charges		7,418		8,410		2,690		2,839		2,394
Total earnings before income taxes and fixed charges (A)	$	2,875,355	$	2,113,643	$	1,345,412	$	2,601,573	$	2,738,003
FIXED CHARGES:
Interest and amortization	$	1,125,752	$	988,665	$	974,622	$	803,932	$	825,204
Rentals (2)		246,682		247,512		216,877		200,764		191,166
Capitalized interest (4)		6,403		7,578		70		363		7,727
Allocable portion of interest on long-term contracts for the purchase of power (3)		1,616		1,568		1,515		1,457		1,393
Dividends on preferred securities		89,337		73,255		—		—		—
Subsidiary preferred and preference stock dividend requirements - pre-tax basis		25,222		18,264		22,962		38,182		77,651
Total fixed charges (B)	$	1,495,012	$	1,336,842	$	1,216,046	$	1,044,698	$	1,103,141
RATIO OF EARNINGS TO FIXED CHARGES (A) / (B):		1.92		1.58		1.11		2.49		2.48

(1) Includes allowance for funds used during construction, accrual of unbilled revenue and minority interest.

(2) Rentals include the interest factor relating to certain significant rentals plus one-third of all remaining annual rentals.

(3) Allocable portion of interest included in annual minimum debt service requirement of supplier.

(4) Includes the fixed charges associated with Nuclear Fuel and capitalized interest of fifty-percent owned partnerships.

(5) Revised to exclude the income and expenses associated with discontinued operations.