Exhibit 12


<TABLE>
<CAPTION>

                                                      TUCSON ELECTRIC POWER COMPANY
                                             COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES


                                              3 Months                            12 Months Ended
                                               Ended      --------------------------------------------------------------------
                                              Mar. 31,    Mar. 31,    Dec. 31,    Dec. 31,    Dec. 31,    Dec. 31,    Dec. 31,
                                                2003        2003        2002        2001        2000        1999        1998
------------------------------------------------------------------------------------------------------------------------------
                                                                             - Thousands of Dollars -
<S>                                          <C>         <C>         <C>         <C>         <C>         <C>         <C>
Fixed Charges:
  Interest on Long-Term Debt                 $ 19,272    $ 68,920    $ 65,620    $ 68,678    $ 66,377    $ 66,836    $ 72,672
  Other Interest (1)                              208         400         273         441       9,067      13,081      13,207
  Interest on Capital Lease Obligations (2)    20,734      86,287      87,783      90,506      92,658      82,414      81,823
------------------------------------------------------------------------------------------------------------------------------
Total Fixed Charges                            40,214     155,607     153,676     159,625     168,102     162,331     167,702


Net Income                                     60,295     115,962      53,737      75,284      51,169      73,475      41,676


Less:
  Extraordinary Income & Accounting
    Change - Net of Tax                       (67,471)    (67,471)          -         470           -      22,597           -
------------------------------------------------------------------------------------------------------------------------------
Net Income from Continuing Operations          (7,176)     48,491      53,737      74,814      51,169      50,878      41,676


Add (Deduct):
  Losses (gains) from Equity Investees (3)        (36)       (145)         17         700       1,543           -           -
  Income Taxes                                 (3,475)     31,497      35,350      55,910      26,566      22,350      17,578
  Total Fixed Charges                          40,214     155,607     153,676     159,625     168,102     162,331     167,702
------------------------------------------------------------------------------------------------------------------------------

Total Earnings before Taxes and
  Fixed Charges                              $ 29,527    $235,450    $242,780    $291,049    $247,380    $235,559   $226,956
==============================================================================================================================

Ratio of Earnings to Fixed Charges              0.734       1.513       1.580       1.823       1.472      1.451      1.353

<FN>
 (1)  Excludes recognition of Allowance for Borrowed Funds Used During Construction.

 (2)  Amounts have been restated for year ended 2001 to conform to current year's
      presentation.

 (3)  Inncom losses (gains).

</FN>
</TABLE>