EXHIBIT 12.1



ORION POWER HOLDINGS, INC. AND SUBSIDIARIES

RATIO OF EARNINGS FROM CONTINUING OPERATIONS TO FIXED CHARGES



|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|------------------------------------------------------------- |  | ------------------------------------ | ------ | ------- | ------------------------------- | -------- | ------- |  | - | ------- | - |  | - | -------- | -
|                                                              |  | Three Months Ended September 30,     |        |         | Nine Months Ended September 30, |         
|                                                              |  | 2004                                 |        | 2003(1) |                                 |          | 2004(2) |  |   | 2003(2) |  
|                                                              |  | (in thousands, except ratio amounts) |       
|Fixed charges:                                                |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Interest expense                                              |  | $                                    | 25,650 |         | $                               | 25,909   |         |  | $ | 71,331  |   |  | $ | 71,932   |  
|Capitalized interest                                          |  |                                      |       |         |                                 |         |         |  |   |        |   |  |   |         |  
|Interest within rent expense                                  |  |                                      | 112    |         |                                 | 149      |         |  |   | 318     |   |  |   | 362      |  
|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Total fixed charges                                           |  | $                                    | 25,762 |         | $                               | 26,058   |         |  | $ | 71,649  |   |  | $ | 72,294   |  
|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Earnings from continuing operations:                          |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Income (loss) from continuing operations before income taxes  |  |                                      | 32,739 |         |                                 | (504,816 | )       |  |   | (8,261  | ) |  |   | (509,464 | )
|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Plus                                                         |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Fixed charges from above                                      |  |                                      | 25,762 |         |                                 | 26,058   |         |  |   | 71,649  |   |  |   | 72,294   |  
|Amortization of capitalized interest                          |  |                                      | 285    |         |                                 | 285      |         |  |   | 855     |   |  |   | 855      |  
|Less                                                         |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Capitalized interest                                          |  |                                      |       |         |                                 |         |         |  |   |        |   |  |   |         |  
|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|                                                              |  | $                                    | 58,786 |         | $                               | (478,473 | )       |  | $ | 64,243  |   |  | $ | (436,315 | )
|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  
|Ratio of earnings from continuing operations to fixed charges |  | $                                    | 2.28   |         | $                               |         |         |  | $ |        |   |  | $ |         |  
|                                                              |  |                                      |        |         |                                 |          |         |  |   |         |   |  |   |          |  

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|(1) | For the three months ended September 30, 2003, Orion Powers earnings from continuing operations were insufficient to cover its fixed charges by $505 million.
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|(2) | For the nine months ended September 30, 2004 and 2003, Orion Powers earnings from continuing operations were insufficient to cover its fixed charges by $7 million and $509
million, respectively.
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