**EXHIBIT
12.3**
 **Page
1**
   **THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY**
 
 **CONSOLIDATED
RATIO OF EARNINGS TO FIXED CHARGES**
 
 
 **Year
      Ended December 31,****2000**
    
    **2001**
    
    **2002**
    
    **2003**
    
    **2004*****(Dollars
      in thousands)*****EARNINGS
      AS DEFINED IN REGULATION S-K:**Income before
      extraordinary items
    
    $
    210,424
    
    $
    177,905
    
    $
    136,952
    
    $
    197,033
    
    $
    236,531Interest and
      other charges, before reduction for
      amounts
      capitalized
    
    
    201,739
    
    
    192,102
    
    
    189,502
    
    
    164,132
    
    
    138,678Provision for
      income taxes
    
    
    138,426
    
    
    137,887
    
    
    84,938
    
    
    131,285
    
    
    138,856Interest
      element of rentals charged to income (a)
    
    
    65,616
    
    
    59,497
    
    
    51,170
    
    
    49,761
    
    
    49,375Earnings as
      defined
    
    $
    616,205
    
    $
    567,391
    
    $
    462,562
    
    $
    542,211
    
    $
    563,440**FIXED
      CHARGES AS DEFINED IN REGULATION S-K:**Interest
      expense
    
    $
    201,739
    
    $
    191,727
    
    $
    180,602
    
    $
    159,632
    
    $
    138,678Subsidiary's
      preferred stock dividend requirements
    
    
    --
    
    
    375
    
    
    8,900
    
    
    4,500
    
    
    --Interest
      element of rentals charged to income (a)
    
    
    65,616
    
    
    59,497
    
    
    51,170
    
    
    49,761
    
    
    49,375Fixed charges
      as defined
    
    $
    267,355
    
    $
    251,599
    
    $
    240,672
    
    $
    213,893
    
    $
    188,053**CONSOLIDATED
      RATIO OF EARNINGS TO FIXED CHARGES**
    
    
    2.30
    
    
    2.26
    
    
    1.92
    
    
    2.53
    
    
    3.00
 
 ______________________
 
 (a)  Includes the
interest element of rentals where determinable plus 1/3 of rental expense where
no readily defined interest element can be determined.
 
  
  **EXHIBIT
12.3**
 **Page
2**
  **THE
CLEVELAND ELECTRIC ILLUMINATING COMPANY**
 
 **CONSOLIDATED
RATIO OF EARNINGS TO FIXED CHARGES PLUS PREFERRED**
 **STOCK
DIVIDEND REQUIREMENTS (PRE-INCOME TAX BASIS)**
 
 
 **Year
      Ended December 31,****2000**
    
    **2001**
    
    **2002**
    
    **2003**
    
    **2004*****(Dollars
      in thousands)*****EARNINGS
      AS DEFINED IN REGULATION S-K:**Income before
      extraordinary items
    
    $
    210,424
    
    $
    177,905
    
    $
    136,952
    
    $
    197,033
    
    $
    236,531Interest and
      other charges, before reduction for amounts
      capitalized
    
    
    201,739
    
    
    192,102
    
    
    189,502
    
    
    164,132
    
    
    138,678Provision for
      income taxes
    
    
    138,426
    
    
    137,887
    
    
    84,938
    
    
    131,285
    
    
    138,856Interest
      element of rentals charged to income (a)
    
    
    65,616
    
    
    59,497
    
    
    51,170
    
    
    49,761
    
    
    49,375Earnings as
      defined
    
    $
    616,205
    
    $
    567,391
    
    $
    462,562
    
    $
    542,211
    
    $
    563,440**FIXED
      CHARGES AS DEFINED IN REGULATION S-K PLUS**
      **PREFERRED
      STOCK DIVIDEND REQUIREMENTS**
      **(PRE-INCOME
      TAX BASIS):**Interest
      expense
    
    $
    201,739
    
    $
    191,727
    
    $
    180,602
    
    $
    159,632
    
    $
    138,678Preferred
      stock dividend requirements
    
    
    20,843
    
    
    25,213
    
    
    24,590
    
    
    12,026
    
    
    7,008Adjustments
      to preferred stock dividends
      to state on a
      pre-income tax basis
    
    
    13,012
    
    
    20,178
    
    
    8,204
    
    
    5,137
    
    
    4,113Interest
      element of rentals charged to income (a)
    
    
    65,616
    
    
    59,497
    
    
    51,170
    
    
    49,761
    
    
    49,375Fixed charges
      as defined plus preferred stock
      dividend
      requirements (pre-income tax basis)
    
    $
    301,210
    
    $
    296,615
    
    $
    264,566
    
    $
    226,556
    
    $
    199,174**CONSOLIDATED
      RATIO OF EARNINGS TO FIXED CHARGES**
      **PLUS
      PREFERRED STOCK DIVIDEND REQUIREMENTS**
      **(PRE-INCOME
      TAX BASIS)**
    
    
    2.05
    
    
    1.91
    
    
    1.75
    
    
    2.39
    
    
    2.83
 
 _________________
 
 (a)  Includes the
interest element of rentals where determinable plus 1/3 of rental expense where
no readily defined interest element can be determined.