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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) August 20, 1998
PP&L Resources, Inc.
___________________________________________________________________________
(Exact name of registrant as specified in its charter)
PENNSYLVANIA 1-11459 23-2758192
___________________________________________________________________________
(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification
No.)
TWO NORTH NINTH STREET, ALLENTOWN, PA. 18101-1179
___________________________________________________________________________
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code 610-774-5151
___________________________________________________________________________
(Former name or former address, if changed since last report.)
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Item 7. Financial Statements, Pro Forma Financial Information
and Exhibits
(c) Exhibits
(12) Computation of Ratio of Earnings to Fixed
Charges
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<TABLE>
Exhibit 12
PP&L RESOURCES, INC. AND SUBSIDIARIES
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(Millions of Dollars)
<CAPTION>
12 Months
Ended
June 30,
1998(a) 1997 1996 1995 1994 1993
<S> <C> <C> <C> <C> <C> <C>
Fixed charges, as defined:
Interest on long-term debt .......... $195 $196 $207 $213 $214 $226
Interest on short-term debt
and other interest ............... 28 25 17 18 18 13
Amortization of debt discount, expense
and premium - net.................. 2 2 2 2 2 2
Interest on capital lease obligations
Charged to expense .............. 8 9 13 15 12 9
Capitalized ..................... 2 2 2 2 1 1
Estimated interest component of
operating rentals ................. 18 15 8 8 6 5
Proportionate share of fixed charges
of 50-percent-or-less-owned
persons ........................... 1 1 1 1 1 1
Total fixed charges ......... $254 $250 $250 $259 $254 $257
Earnings, as defined:
Net income .......................... $269 $296 $329 $323 $216 $314
Preferred and Preference Stock
Dividend Requirements.............. 26 24 28 28 28 34
Less undistributed income of less
than 50-percent-owned persons ..... - - - - - -
295 320 357 351 244 348
Add (Deduct):
Federal income taxes ................ 162 169 189 195 198 163
State income taxes .................. 52 59 64 62 77 64
Deferred income taxes ............... 23 29 10 15 (45) 22
Investment tax credit - net ......... (10) (10) (10) (10) (12) (14)
Income taxes on other income and
deductions - net .................. - (9) - 24 (38) (1)
Amortization of capitalized
interest on capital leases ........ 2 2 4 5 9 12
Total fixed charges as above
(excluding capitalized interest
on capital lease obligations) ..... 252 248 248 257 253 256
Total earnings .............. $776 $808 $862 $899 $686 $850
Ratio of earnings to fixed
charges ............................. 3.06 3.23 3.45 3.47 2.70 3.31
<FN>
(a) Excluding extraordinary items.
</TABLE>
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Registrant has duly caused this report to be signed
on its behalf by the undersigned thereunto duly authorized.
PP&L RESOURCES, INC.
By: ________/s/John R. Biggar_______
Senior Vice President-Financial
Date: August 20, 1998
