|                                                                                                            |   | Year                  Ended December 31, |    |
|-----------------------------------------------------------------------------------------------------------------|--------|------------------------------------------|---------|
|                                                                                                            |   | 2003                                     |    | 2004 |   | 2005 |   | 2006 |   |   |  2007 |   |
| EARNINGS                                                                                                        |   |                                |    |    |   |    |   |    |   |   |   |   |
| Income                    Before Income Taxes                                                                   |   | $                                        | 308,003 |   | $ | 238,226 |   | $ | 202,021 |   | $ | 282,865 |   | $ |  195,613 |   |
| Fixed                Charges (as below)                                                                         |   |                                     | 123,721 |   |   | 110,735 |   |   | 118,365 |   |   | 151,874 |   |   |  178,067 |   |
| Total                  Earnings                                                                                 |   | $                                        | 431,724 |   | $ | 348,961 |   | $ | 320,386 |   | $ | 434,739 |   | $ | 373,680 |   |
|                                                                                                            |   |                                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FIXED                  CHARGES                                                                                  |   |                                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest                  Expense                                                                               |   | $                                        | 115,202 |   | $ | 99,135 |   | $ | 106,301 |   | $ | 129,106 |   | $ | 165,405 |   |
| Credit                  for Allowance for Borrowed Funds Used                     During Construction |   |                                     | 5,319   |   |   | 8,100 |   |   | 8,764 |   |   | 17,668 |   |   |  6,962 |   |
| Estimated                Interest Element in Lease Rentals                                                      |   |                                     | 3,200   |   |   | 3,500 |   |   | 3,300 |   |   | 5,100 |   |   |  5,700 |   |
| Total                  Fixed                  Charges                                                           |   | $                                        | 123,721 |   | $ | 110,735 |   | $ | 118,365 |   | $ | 151,874 |   | $ |  178,067 |   |
|                                                                                                            |   |                                     |    |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio                  of Earnings to Fixed                  Charges                                            |   |                                     | 3.48    |   |   | 3.15 |   |   | 2.70 |   |   | 2.86 |   |   |  2.09 |   |