| Exhibit 12.2
      Wisconsin Public Service Corporation
      Ratio of Earnings to Fixed Charges and
      Ratio of Earnings to Fixed Charges and Preferred      Dividends
(Millions)**2003
      2002
      2001
      2000
      1999
      EARNINGS
      Earnings on common stock**$78.9
      $83.1
      $80.6
      $70.4
      $67.1
      Federal and state income taxes**45.7
46.8
43.9
40.1
38.0
      Net pretax income**124.6
      129.9
      124.5
      110.5
      105.1
      Income/loss from less than 50% equity investees**6.0
      6.6
      6.3
      0.0
      0.0
      Distributed earnings of less than 50% equity investees**4.3
      5.4
      3.3
      0.0
      0.0
      Fixed charges**38.8
      41.2
      39.3
      37.7
      33.6
      Subtract
      Preferred dividend requirement**4.8
4.8
4.7
4.8
4.8
      Total earnings as defined**$156.9
      $165.1
      $156.1
      $143.4
      $133.9
      FIXED CHARGES
      Interest on long-term debt, including related amortization**$27.8
      27.2
      $24.1
      $21.6
      $21.9
      Other interest**4.9
      7.9
      9.2
      10.1
      5.6
      Interest factor applicable to rentals**1.3
1.3
1.3
1.2
1.3
      Fixed charges before preferred dividend requirement**$34.0
      $36.4
      $34.6
      $32.9
      $28.8
      Ratio of earnings to fixed charges**4.6
      4.5
      4.5
      4.4
      4.6
      Preferred dividends (grossed up) (see below)**$4.8
      $4.8
      $4.7
      $4.8
      $4.8
      Total fixed charges including preferred dividends**$38.8
      $41.2
      $39.3
      $37.7
      $33.6
      Ratio of earnings to fixed charges and preferred dividends**4.0
      4.0
      4.0
      3.8
      4.0
      PREFERRED DIVIDEND CALCULATION:
      Preferred dividends**$3.1
      $3.1
      $3.1
      $3.1
      $3.1
      Tax rate**35.6%
      35.0%
      34.4%
      35.3%
      35.2%
      Preferred dividends (grossed up)**$4.8
      $4.8
      $4.7
      $4.8
      $4.8**************************************** |
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