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EXHIBIT 12
CASCADE NATURAL GAS CORPORATION AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
AND PREFERRED DIVIDEND REQUIREMENTS
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Twelve Months Ended
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30-Jun-00 30-Sep-99 30-Sep-98 30-Sep-97 30-Sep-96 31-Dec-95
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(unaudited)
(dollars in thousands)
<S> <C> <C> <C> <C> <C> <C>
Fixed charges, as defined:
Interest expense $ 10,749 $ 10,486 10,132 9,436 10,101 $ 9,938
Amortization of debt
issuance expense 606 603 605 612 612 606
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Total fixed charges $ 11,355 $ 11,089 10,737 10,048 10,713 $ 10,544
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Earnings, as defined:
Net earnings $ 15,932 $ 14,053 9,544 10,627 8,211 $ 7,732
Add (deduct):
Income taxes 8,749 8,075 5,694 6,263 4,272 4,508
Fixed charges 11,355 11,089 10,737 10,048 10,713 10,544
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Total earnings $ 36,036 $ 33,217 25,975 26,938 23,196 $ 22,784
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Ratio of earnings to
fixed charges 3.17 3.00 2.42 2.68 2.17 2.16
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Fixed charges and preferred
dividend requirements:
Fixed charges $ 11,355 $ 11,089 10,737 10,048 10,713 $ 10,544
Preferred dividend
requirements 192 756 778 811 819 853
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Total $ 11,547 $ 11,845 11,515 10,859 11,532 $ 11,397
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Ratio of earnings to fixed charges and
preferred dividend requirements 3.12 2.80 2.26 2.48 2.01 2.00
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