|Exhibit 12(a)                                                                                                                                                 
|--------------------------------------------------------------------------------------------------------------------------------------------------------------
|PPL CORPORATION AND SUBSIDIARIES
        COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND
        PREFERRED STOCK DIVIDENDS(Millions of Dollars)
|                                                                                                                                                              

|                                                                                                     |                                                                                                                                                                                                                                 | 12 Months
        Ended
        March 31, |                    |                     | 12 Months
        Ended
        December 31, |  
|---------------------------------------------------------------------------------------------------- | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- | ----------------------------------------- | ------------------ | ------------------- | -------------------------------------------- | -
|                                                                                                     |                                                                                                                                                                                                                                 | 2003                                      |                    |                     | 2002                                         |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|Fixed charges, as defined:                                                                           |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     | Interest on long-term debt                                                                                                                                                                                                      |                                           | $                  | 458                 |                                              |  
|                                                                                                     | Interest on short-term debt and
         other interest                                                                                                                                                                         |                                           |                    | 72                  |                                              |  
|                                                                                                     | Amortization of debt discount,
         expense and premium - net                                                                                                                                                               |                                           |                    | 27                  |                                              |  
|                                                                                                     | Interest on capital lease obligations                                                                                                                                                                                           |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           | Charged to expense |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           | Capitalized        |                     |                                              |  
|                                                                                                     | Estimated interest component 
        of operating rentals                                                                                                                                                                      |                                           |                    | 48                  |                                              |  
|                                                                                                     | Preferred stock dividends and
         preferred securities distributions
         of subsidiaries on a pre-tax basis                                                                                                           |                                           |                    | 73                  |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    | Total fixed charges |                                              | $
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|Earnings, as defined:                                                                                |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     | Net income (a)                                                                                                                                                                                                                  |                                           | $                  | 441                 |                                              |  
|                                                                                                     | Preferred security dividend
        requirements                                                                                                                                                                                |                                           |                    | 61                  |                                              |  
|                                                                                                     | Less undistributed income (loss)
      of   equity method investments                                                                                                                                                           |                                           |                    | (11                 | )                                            |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    | 513                 |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|Add:                                                                                                 |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     | Income taxes                                                                                                                                                                                                                    |                                           |                    | 193                 |                                              |  
|                                                                                                     | Amortization of capitalized 
         interest on capital leases                                                                                                                                                                |                                           |                    |                     |                                              |  
|                                                                                                     | Total fixed charges as above
         (excluding capitalized interest, 
         capitalized interest on capital
         lease obligations and
         preferred stock dividends of
         subsidiaries on a pre-tax basis) |                                           |                    | 587                 |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    | Total earnings      |                                              | $
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|Ratio of earnings to fixed charges                                                                   |                                                                                                                                                                                                                                 |                                           | 1.9                |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|Ratio of earnings to combined fixed
      
        charges and preferred stock
        dividends (b) |                                                                                                                                                                                                                                 |                                           | 1.9                |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  
|                                                                                                     |                                                                                                                                                                                                                                 |                                           |                    |                     |                                              |  

|(a) |  | Net income excludes extraordinary items, minority interest and the cumulative effect of a change in accounting principle.                                                                                                      
|--- |  | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(b) |  | PPL, the parent holding company, does not have any preferred stock outstanding; therefore, the ratio of earnings to combined fixed charges and preferred stock dividends is the same as the ratio of earnings to fixed charges.