| Exhibit                  12                                                                  |   |
|----------------------------------------------------------------------------------------------|--------|
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| The                  Peoples                  Gas Light and Coke Company                     |
| Ratio                  of                  Earnings to Fixed Charges and                     |   |
| Ratio                  of                  Earnings to Fixed Charges and Preferred Dividends |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                              |   |   |   | Three-Month |   |   |   |   |   |   |   |   |   |
|                                                                                              |   |   |  | Transition |   |   |   |   |   |   |   |   |   |
|                                                                                              |        | 2007 |   | Period                  Ended |   | For                  Fiscal Years Ended September 30, |  |
| (Millions)                                                                                   |   | 3                  months |   | 12/31/2006 |   | 2006 |   | 2005 |   | 2004 |   | 2003 |   |
| EARNINGS                                                                                     |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings                  on                  common stock                                   |   | $28.5 |   | $19.1 |   | $(35.5 | ) | $49.3 |   | $45.4 |   | $79.6 |   |
| Federal                  and                  state income taxes                             |   | 12.8 |   | 11.6 |   | (26.1 | ) | 26.7 |   | 24.4 |   | 45.7 |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  pretax                  income                                          |   | 41.3 |   | 30.7 |   | (61.6 | ) | 76.0 |   | 69.8 |   | 125.3 |   |
| Income                  from                  less than 50% equity investees                 |   | - |   | - |   | - |   | - |   | - |   | - |   |
| Distributed                  earnings of less than 50% equity investees                      |   | - |   | - |   | - |   | - |   | - |   | - |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed                  charges                                                               |   | 7.9 |   | 7.6 |   | 27.9 |   | 24.7 |   | 22.3 |   | 24.0 |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                  earnings as defined                                                   |   | $49.2 |   | $38.3 |   | $(33.7 | ) | $100.7 |   | $92.1 |   | $149.3 |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FIXED                  CHARGES                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  on                  long-term debt, including related amortization |   | $5.6 |   | $5.6 |   | $22.2 |   | $21.6 |   | $19.7 |   | $20.7 |   |
| Other                  interest                                                              |   | 2.1 |   | 1.8 |   | 4.8 |   | 2.2 |   | 1.4 |   | 1.6 |   |
| Interest                  factor applicable to rentals                                       |   | 0.2 |   | 0.2 |   | 0.9 |   | 0.9 |   | 1.2 |   | 1.7 |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed                  charges                                                               |   | $7.9 |   | $7.6 |   | $27.9 |   | $24.7 |   | $22.3 |   | $24.0 |   |
|                                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio                  of                  earnings to fixed charges                         |   | 6.2 |   | 5.0 |   | (1.2 | ) | 4.1 |   | 4.1 |   | 6.2 |   |