Exhibit 12.5

CILCORP INC.

Computation of Ratio of Earnings to Fixed Charges

(Thousands of Dollars, Except Ratios)



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|----------------------------------------------------------------- |  | ----------------------- | ------ | - | ---- | - | ------ | ---- |  | - | ------- | - |  | ---- | ------- | --- |  | - | ------- | ---
|                                                                  |  | Year Ended December 31, |       
|                                                                  |  | 2004                    |        |   | 2005 |   |        | 2006 |  |   | 2007    |   |  | 2008 |        
|Net income from continuing operations                             |  | $                       | 10,367 |   |      | $ | 3,222  |      |  | $ | 21,004  |   |  | $    | 49,402  |     |  | $ | 43,542  |    
|Less- Change in accounting principle                              |  |                         |       |   |      |   | (2,497 | )    |  |   |        |   |  |      |        |     |  |   |        |    
|Add- Taxes based on income (benefit)                              |  |                         | (8,526 | ) |      |   | (3,164 | )    |  |   | (10,944 | ) |  |      | 21,018  |     |  |   | 19,411  |    
|                                                                  |  |                         |        |   |      |   |        |      |  |   |         |   |  |      |         |     |  |   |         |    
|Net income before income taxes and change in accounting principle |  |                         | 1,841  |   |      |   | 2,555  |      |  |   | 10,060  |   |  |      | 70,420  |     |  |   | 62,953  |    
|Add- fixed charges:                                               |  |                         |        |   |      |   |        |      |  |   |         |   |  |      |         |     |  |   |         |    
|Interest on long term debt                                        |  |                         | 51,992 |   |      |   | 50,562 |      |  |   | 51,574  |   |  |      | 62,824  | (1) |  |   | 53,592  | (1)
|Estimated interest cost within rental expense                     |  |                         | 395    |   |      |   | 390    |      |  |   | 289     |   |  |      | 343     |     |  |   | 430     |    
|Amortization of net debt premium, discount, and expenses          |  |                         | 767    |   |      |   | 693    |      |  |   | 801     |   |  |      | 1,322   |     |  |   | 1,428   |    
|Subsidiary preferred stock dividends                              |  |                         | 2,062  |   |      |   | 1,988  |      |  |   | 1,933   |   |  |      | 1,869   |     |  |   | 1,354   |    
|Adjust preferred stock dividends to pre-tax basis                 |  |                         | 346    |   |      |   | 1,293  |      |  |   | (1,007  | ) |  |      | 812     |     |  |   | 604     |    
|                                                                  |  |                         |        |   |      |   |        |      |  |   |         |   |  |      |         |     |  |   |         |    
|Total fixed charges                                               |  |                         | 55,562 |   |      |   | 54,926 |      |  |   | 53,590  |   |  |      | 67,170  |     |  |   | 57,408  |    
|                                                                  |  |                         |        |   |      |   |        |      |  |   |         |   |  |      |         |     |  |   |         |    
|Less: Adjustment of preferred stock dividends to pre-tax basis    |  |                         | 346    |   |      |   | 1,293  |      |  |   | (1,007  | ) |  |      | 812     |     |  |   | 604     |    
|Earnings available for fixed charges                              |  | $                       | 57,057 |   |      | $ | 56,188 |      |  | $ | 64,657  |   |  | $    | 136,778 |     |  | $ | 119,757 |    
|                                                                  |  |                         |        |   |      |   |        |      |  |   |         |   |  |      |         |     |  |   |         |    
|Ratio of earnings to fixed charges                                |  |                         | 1.02   |   |      |   | 1.02   |      |  |   | 1.20    |   |  |      | 2.03    |     |  |   | 2.08    |    
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(1)Includes FIN 48 interest expense