|Exhibit 12(b)                                      
|---------------------------------------------------
|FLORIDA POWER & LIGHT COMPANY
COMPUTATION OF RATIOS

|                                   | Three Months Ended
March 31, 2004
|---------------------------------- | ---------------------------------
|                                  
|                                   | (millions of dollars)            
|RATIO OF EARNINGS TO FIXED CHARGES
|                                  
|Earnings, as defined:              |                                  
|Net income                         | $                                
|Income taxes                       |                                  
|Fixed charges, as below            |                                  
|                                   |                                  
|                                   |                                  
|Total earnings, as defined         | $                                
|                                   |                                  
|                                   |                                  
|Fixed charges, as defined:         |                                  
|Interest charges                   | $                                
|Rental interest factor             |                                  
|Capitalized interest               |                                  
|                                   |                                  
|                                   |                                  
|Total fixed charges, as defined    | $                                
|                                   |                                  
|                                   |                                  
|Ratio of earnings to fixed charges |                                  
|                                   |                                  



|RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED STOCK DIVIDENDS
|-------------------------------------------------------------------------
|                                                                         
|Earnings, as defined:                                                    
|Net income                                                               
|Income taxes                                                             
|Fixed charges, as below                                                  
|                                                                         
|                                                                         
|Total earnings, as defined                                               
|                                                                         
|                                                                         
|Fixed charges, as defined:                                               
|Interest charges                                                         
|Rental interest factor                                                   
|Capitalized interest                                                     
|                                                                         
|                                                                         
|Total fixed charges, as defined                                          
|                                                                         
|                                                                         
|Non-tax deductible preferred stock dividends                             
|Ratio of income before income taxes to net income                        
|                                                                         
|                                                                         
|Preferred stock dividends before income taxes                            
|                                                                         
|                                                                         
|Combined fixed charges and preferred stock dividends                     
|                                                                         
|                                                                         
|Ratio of earnings to combined fixed charges and preferred stock dividends
|