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MCN INVESTMENT CORPORATION AND SUBSIDIARIES                        EXHIBIT 12-2
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(DOLLARS IN THOUSANDS)

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<CAPTION>

                                                    TWELVE MONTHS         TWELVE MONTHS        TWELVE MONTHS          
                                                        ENDED                 ENDED                ENDED                
                                                 SEPTEMBER 30, 1998     DECEMBER 31, 1997     DECEMBER 31, 1996          
                                                 ------------------     -----------------     -----------------          
   EARNINGS AS DEFINED (1)(4)                                                                                            
<S>                                              <C>                    <C>                   <C>                
   Pre-tax income (loss) (2)(5)                  $        (561,736)     $          51,892     $          21,899  
   Fixed charges (3)                                        84,157                 65,891                41,628  
                                                ------------------     -----------------     -----------------          
                                                                                                                 
        Earnings (loss) as defined               $        (477,579)     $         117,783     $          63,527  
                                                 =================      =================     =================  
                                                                                                                 
                                                                                                                 
   FIXED CHARGES AS DEFINED (1)(4)                                                                               
   Interest, expensed                            $          82,307      $          64,434     $          40,523  
   Interest, capitalized                                    18,860                 15,002                 8,002  
   Amortization of debt discounts, premium                                                                       
        and expense                                          1,399                  1,183                   982  
   Interest implicit in rentals                                451                    274                   123  
                                                 ------------------     -----------------     -----------------          
                                                                                                                 
        Fixed charges as defined                 $         103,017      $          80,893     $          49,630  
                                                 =================      =================     =================  
                                                                                                                 
   Ratio of Earnings to Fixed Charges                                                1.46                  1.28  
                                                                        =================     =================  
                                                                                                                 
   Coverage Deficiency (6)                       $         580,596                                                 
                                                 ================= 
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(1) Earnings and fixed charges are defined and computed in accordance with
    Item 503 of Regulation S-K.

(2) This amount represents the aggregate of (a) the pre-tax income from
    continuing operations of MCN Investment and its majority-owned subsidiaries,
    (b) MCN Investment's share of pre-tax income of its 50% owned companies, and
    (c) any income actually received from less than 50% owned companies.

(3) Fixed charges added to earnings are adjusted to exclude interest
    capitalized during the period.

(4) In June 1996, MCN completed the sale of The Genix Group, its computer
    operations subsidiary. For purposes of calculating the Ratio of Earnings to
    Fixed Charges, it has been classified as a discontinued operation and
    therefore excluded from the ratio for all periods presented.

(5) MCN Investment recorded several unusual charges, consisting of
    property write-downs, investment losses, and restructuring charges, totaling
    $564,984,000 pre-tax ($367,239,000 net of taxes), in the 1998 second and
    third quarters.

(6) Earnings for the twelve-month period ended September 30, 1998 were not
    adequate to cover fixed charges. The amount of the coverage deficiency was
    $580,596,000. The ratio of earnings to fixed charges for 1998, excluding the
    unusual charges would have been 0.85.