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                             EXHIBIT NO. (12)<PAGE>
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                                                                  EXHIBIT (12)
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                                                CMS ENERGY CORPORATION
                                          Ratio of Earnings to Fixed Charges 
                                                 (Millions of Dollars)
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                                                                    Years Ended December 31            
                                                          1995      1994      1993      1992      1991 
                                                         ----------------------------------------------
                                                                                         (b)     (c)(d)          
<C>                                                      <S>       <S>       <S>       <S>       <S>   
Earnings as defined (a)
Net income                                               $ 204     $ 179     $ 155     $(297)    $(262)          
Income taxes                                               118        92        75      (146)      (94)          
Exclude equity basis subsidiaries                          (57)      (18)       (6)       10        10           
Fixed charges as defined, adjusted to
  exclude capitalized interest of $8,
  $6, $5, $3, and $5 for the years
  ended December 31, 1995, 1994,
  1993, 1992, and 1991, 
  respectively                                             280       237       245       228       364 
                                                         ----------------------------------------------

Earnings as defined                                      $ 545     $ 490     $ 469     $(205)    $  18 
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Fixed charges as defined (a)
Interest on long-term debt                               $ 224     $ 193     $ 204     $ 169     $ 274           
Estimated interest portion of lease rental                   9         9        11        16        17           
Other interest charges                                      27        18        24        35        68           
Preferred stock dividend                                    42        36        17        16        15 
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Fixed charges as defined                                 $ 302     $ 256     $ 256     $ 236     $ 374 
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Ratio of earnings to fixed charges                        1.81      1.91      1.83         -        -  
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NOTES:
(a) Earnings and fixed charges as defined in instructions for Item 503 of Regulation S-K.

(b) For the year ended December 31, 1992, fixed charges exceeded earnings by $441 million.  Earnings as defined include
a $520 million pretax loss on the settlement of MCV Power Purchases, $(15) million for potential customer refunds and
other reserves related to 1992 but recorded in 1991, and $6 million relating to CMS Generation Company's reduction in
its investment in The Oxford Energy Company.  The ratio of earnings to fixed charges would have been 1.30 excluding
these amounts.

(c) Excludes an extraordinary after-tax loss of $14 million.

(d) For the year ended December 31, 1991, fixed charges exceeded earnings by $356 million.  Earnings as defined include
pretax losses of $398 million for write-downs and reserve amounts related to the abandonment of the Midland nuclear
plant, $76 million for potential customer refunds and other reserves, and $51 million relating to CMS Generation
Company's reduction in its investment in The Oxford Energy Company.  The ratio of earnings to fixed charges would have
been 1.45 excluding these amounts.

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