**DUQUESNE LIGHT EXHIBIT 12.1**

**DuquesneLight Company and Subsidiaries**

**Calculation of Ratio of Earnings to Fixed Charges****(Millions of Dollars)**

  

|                                                                               |   | **Year Ended December 31,** |      |
|------------------------------------------------------------------------------------|--------|-----------------------------|-----------|
|                                                                               |   |                             |      |
|                                                                               |   | **2002**                    |      | 2001 |   | 2000 |   | 1999 |   | 1998 |   |
|                                                                               |   |                             |      |  |   |  |   |  |   |  |   |
| **FIXED CHARGES:******                                                             |   |                        |      |   |   |   |   |   |   |   |   |
| Interest on long-term debt                                                         |   | **$**                       | **52.6**  |   | $ | 60.1 |   | $ |  71.2 |   | $ |  76.9 |   | $ | 75.8 |   |
| Other interest                                                                     |   | **2.2**                     |      | 0.7 |   | 3.1 |   | 4.8 |   | 1.3 |   |
| Company obligated mandatorily redeemable preferred securities dividendrequirements |   | **12. 6**                   |      | 12. 6 |   | 12. 6 |   | 12. 6 |   | 12. 6 |   |
| Amortization of debt discount, premium and expense –net                       |   | **2.6**                     |      | 2.2 |   | 2.3 |   | 2.5 |   | 5.3 |   |
| Portion of lease payments representing an interest factor                          |   | **1.9**                     |      | 3.1 |   | 6.8 |   | 43.0 |   | 44.1 |   |
|                                                                               |   |                             |      |  |   |  |   |  |   |  |   |
|                                                                               |   |                        |      |   |   |   |   |   |   |   |   |
| Total Fixed Charges                                                                |   | **$**                       | **71.9**  |   | $ | 78.7 |   | $ | 96.0 |   | $ | 139.8 |   | $ | 139.1 |   |
|                                                                               |   |                             |           |   |  |  |   |  |  |   |  |  |   |  |  |   |
|                                                                               |   |                        |      |   |   |   |   |   |   |   |   |
| **EARNINGS:******                                                                  |   |                        |      |   |   |   |   |   |   |   |   |
| Income from continuing operations                                                  |   | **$**                       | **75.4**  |   | $ | 53.4 |   | $ | 92.6 |   | $ | 151.0 |   | $ | 148.5 |   |
| Income taxes                                                                       |   | **49.3**                    |      | 31.4 |   | 41.6 |   | 76.1 | * | 74.9 | * |
| Fixed charges as above                                                             |   | **71.9**                    |      | 78.7 |   | 96.0 |   | 139.8 |   | 139.1 |   |
|                                                                               |   |                             |      |  |   |  |   |  |   |  |   |
| Total Earnings                                                                     |   | **$**                       | **196.6** |   | $ | 163.5 |   | $ | 230.2 |   | $ | 366.9 |   | $ | 362.5 |   |
|                                                                               |   |                             |           |   |  |  |   |  |  |   |  |  |   |  |  |   |
|                                                                               |   |                        |      |   |   |   |   |   |   |   |   |
| **RATIO OF EARNINGS TO FIXED CHARGES******                                         |   |                        | **2.73**  |   |   | 2.08 |   |   | 2.40 |   |   | 2.62 |   |   | 2.61 |   |
|                                                                               |   |                             |           |   |  |  |   |  |  |   |  |  |   |  |  |   |

      *   Earnings related to income taxes reflect a $3.0 million and $12.0 million decrease for the twelve months ended December 31,1999 and 1998, due to a financial statement reclassification related to *Statement of Financial Accounting Standards No. 109, Accounting for Income Taxes*. The ratio of earnings to fixed charges, absentthis reclassification, equals 2.65 and 2.69 for the twelve months ended December 31, 1999 and 1998.

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