**Exhibit 12.1**

 

AESEastern Energy, L.P.

Statements Regarding Ratio ofEarnings to Fixed Charges

YEARS ENDED DECEMBER 31, 2004, 2003,2002, 2001 AND 2000

(Amounts in Thousands, Except Ratio Amounts)

 
| ** **                          | ** **                                                                                | **2004** | ** ** | **2003** | ** ** | **2002** | ** ** | **2001** | ** ** | **2000** | ** ** |
|-------------------------------------|-------------------------------------------------------------------------------------------|----------|------------|----------|------------|----------|------------|----------|------------|----------|------------|
|                                |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Income from  Continuing Operations  |                                                                                      | $        | 57,299     |     | $          | 89,066   |       | $        | 58,630     |     | $          | 51,865 |   | $ | 98,237 |   |
|                                |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Add:                                | Fixed  Charges                                                                            |     | 59,329     |     | 59,448     |     | 58,139     |     | 58,757     |     | 57,614     |   |
| Add:                                | Amortization  of Capitalized Interest                                                     |     | —     |     | —     |     | —     |     | —     |     | 173        |   |
| Less:                               | Interest  Capitalized                                                                     |     | —     |     | —     |     | —     |     | —     |     | —     |   |
|                                |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Earnings                            |                                                                                      | 116,628  |       | 148,514  |       | 116,769  |       | 110,622  |       | 156,024  |       |
|                                |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Fixed  Charges:                     |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Add:                                | Interest  expense and capitalized amounts (including construction related fixed  charges) |     | 58,930     |     | 59,144     |     | 57,694     |     | 58,434     |     | 57,314     |   |
| Add:                                | Amortization  of deferred financing                                                       |     | 399        |     | 304        |     | 445        |     | 323        |     | 300        |   |
| Add:                                | Interest  capitalized                                                                     |     | —     |     | —     |     | —     |     | —     |     | —     |   |
|                                |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Total Fixed  Charges                |                                                                                      | $        | 59,329     |     | $          | 59,448   |       | $        | 58,139     |     | $          | 58,757 |   | $ | 57,614 |   |
|                                |                                                                                      |     |       |     |       |     |       |     |       |     |       |
| Ratio of  Earnings to Fixed Charges |                                                                                      | 1.97     |       | 2.50     |       | 2.01     |       | 1.88     |       | 2.71     |       |

 

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