| Exhibit 12 |
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| North Shore Gas Company and Subsidiary Companies |
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| Statement Re: Computation of Ratio of Earnings to Fixed Charges |
| (Dollars in Thousands) |
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Fiscal years ended September 30, |
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2000 |
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1999 |
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1998 |
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1997 |
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1996 |
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| Net Income Before Preferred |
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| Stock Dividends |
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$ 6,184 |
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$ 12,492 |
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$ 12,986 |
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$ 14,814 |
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$ 16,347 |
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| Add - Income Taxes |
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3,657 |
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7,396 |
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8,124 |
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9,229 |
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10,154 |
| Fixed Charges (see below) |
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5,114 |
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5,277 |
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5,190 |
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5,068 |
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5,741 |
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| Earnings |
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$ 14,955 |
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$ 25,165 |
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$ 26,300 |
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$ 29,111 |
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$ 32,242 |
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| Fixed Charges: |
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| Interest on Long-Term Debt |
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$ 4,537 |
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$ 4,682 |
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$ 4,625 |
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$ 4,627 |
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$ 4,937 |
| Other Interest |
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577 |
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595 |
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565 |
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441 |
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804 |
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| Total Fixed Charges |
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$ 5,114 |
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$ 5,277 |
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$ 5,190 |
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$ 5,068 |
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$ 5,741 |
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| Ratio of Earnings to Fixed Charges |
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2.92 |
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4.77 |
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5.07 |
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5.74 |
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5.62 |
