| Exhibit                  12                                                                       |   |
|--------------------------------------------------------------------------------------------------------|--------|
| The                  Peoples                  Gas Light and Coke Company      |   |
| Ratio                  of                  Earnings to Fixed Charges          |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   | Three-Month |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   |   |   |   | Transition |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                   |   | 2007 |   |   | Period                  Ended |   |   | For                  Fiscal                  Years Ended September 30, |   |
| (Millions)                                                                                             |   | 9                  months |   |   | 12/31/2006 |   |   | 2006 |   |   | 2005 |   |   | 2004 |   |   | 2003 |   |
| EARNINGS                                                                                               |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Earnings                  on                  common stock                                             |   | $ | (18.6 | ) |   | $ | 19.1 |   |   | $ | (35.5 | ) |   | $ | 49.3 |   |   | $ | 45.4 |   |   | $ | 79.6 |   |
| Federal                  and                  state income taxes                                       |   |   | (11.1 | ) |   |   | 11.6 |   |   |   | (26.1 | ) |   |   | 26.7 |   |   |   | 24.4 |   |   |   | 45.7 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Net                  pretax                  income                                                    |   |   | (29.7 | ) |   |   | 30.7 |   |   |   | (61.6 | ) |   |   | 76.0 |   |   |   | 69.8 |   |   |   | 125.3 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed                  charges                                                                         |   |   | 24.3 |   |   |   | 7.6 |   |   |   | 27.9 |   |   |   | 24.7 |   |   |   | 22.3 |   |   |   | 24.0 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                  earnings as defined                                                             |   | $ | (5.4 | ) |   | $ | 38.3 |   |   | $ | (33.7 | ) |   | $ | 100.7 |   |   | $ | 92.1 |   |   | $ | 149.3 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FIXED                  CHARGES                                                                         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  on                  long-term debt, including related amortization           |   | $ | 17.0 |   |   | $ | 5.6 |   |   | $ | 22.2 |   |   | $ | 21.6 |   |   | $ | 19.7 |   |   | $ | 20.7 |   |
| Other                  interest                                                                        |   |   | 5.9 |   |   |   | 1.8 |   |   |   | 4.8 |   |   |   | 2.2 |   |   |   | 1.4 |   |   |   | 1.6 |   |
| Interest                  factor applicable to rentals                                                 |   |   | 1.4 |   |   |   | 0.2 |   |   |   | 0.9 |   |   |   | 0.9 |   |   |   | 1.2 |   |   |   | 1.7 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Fixed                  charges                                                                         |   | $ | 24.3 |   |   | $ | 7.6 |   |   | $ | 27.9 |   |   | $ | 24.7 |   |   | $ | 22.3 |   |   | $ | 24.0 |   |
|                                                                                                   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio                  of                  earnings to fixed charges                                   |   |   | (0.2 | ) |   |   | 5.0 |   |   |   | (1.2 | ) |   |   | 4.1 |   |   |   | 4.1 |   |   |   | 6.2 |   |