EXHIBIT 12.6
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES - DUKE ENERGY INDIANA
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.

| Nine Months Ended September 30, |  | Years Ended December 31,
(in millions) | 2014 |  | 2013 |  | 2012 |  | 2011 |  | 2010 |  | 2009
Earnings as defined for fixed charges calculation |  |  |  |  |  |  |  |  |  |  |  |
Add: |  |  |  |  |  |  |  |  |  |  |  |
Pretax income (loss) from continuing operations |  | $ | 464 |  |  | $ | 581 |  |  | $ | (123 | ) |  | $ | 242 |  |  | $ | 441 |  |  | $ | 317 |
Fixed charges |  | 136 |  |  | 185 |  |  | 184 |  |  | 178 |  |  | 161 |  |  | 165 |
Total earnings |  | $ | 600 |  |  | $ | 766 |  |  | $ | 61 |  |  | $ | 420 |  |  | $ | 602 |  |  | $ | 482 |
Fixed charges: |  |  |  |  |  |  |  |  |  |  |  |
Interest on debt, including capitalized portions |  | $ | 131 |  |  | $ | 179 |  |  | $ | 178 |  |  | $ | 171 |  |  | $ | 154 |  |  | $ | 157 |
Estimate of interest within rental expense |  | 5 |  |  | 6 |  |  | 6 |  |  | 7 |  |  | 7 |  |  | 8 |
Total fixed charges |  | $ | 136 |  |  | $ | 185 |  |  | $ | 184 |  |  | $ | 178 |  |  | $ | 161 |  |  | $ | 165 |
Ratio of earnings to fixed charges |  | 4.4 |  |  | 4.1 |  |  | 0.3 |  | (a) | 2.4 |  |  | 3.7 |  |  | 2.9 |

(a) | Earnings insufficient to cover fixed charges by approximately $123 million during the year ended December 31, 2012 due primarily to a non-cash impairment charge.