
                                                              
                                                           Exhibit 12(b)


                          Minnesota Power & Light Company
              Computation of Ratios of Earnings to Fixed Charges and
            Preferred Dividends and Supplemental Ratios of Earnings to
                   Fixed Charges and Preferred Dividends (1)


                                          For the Year Ended
                          ----------------------------------------------------
                                             December 31,
                          ----------------------------------------------------
                            1991      1992       1993       1994       1995  
                          --------  ---------  ---------  ---------  ---------
                                     (In thousands except ratios)
     Income from 
      continuing
      operations
      per 
      consolidated
      statement
      of income          $ 70,854   $ 67,821   $ 67,374   $ 59,465   $ 61,857

     Add (deduct)
       Current 
        income tax
        expense            16,371     29,147     29,277     24,116     13,356
       Deferred 
        income tax
        expense 
        (benefit)           9,734     (1,113)     1,084       (981)   (11,336)
       Deferred 
        investment 
        tax
        credits            (1,615)    (1,568)    (2,035)    (2,478)      (865)
       Undistributed 
        income 
        from less 
        than 50% 
        owned equity            
        investments        (4,941)    (5,733)    (6,009)    (7,547)    (9,124)
       Minority 
        interest             (129)     2,684        (83)      (879)       260
                         ---------  ---------  ---------  ---------  ---------  
                           90,274     91,238     86,608     71,696     54,148
                         ---------  ---------  ---------  ---------  ---------
                                                                               
     Fixed charges
       Interest on 
        long-term
        debt               44,516     44,008     44,647     48,137     45,713
       Capitalized 
        interest               --        422      3,010         --      1,395
       Other interest 
        charges - net       8,008      6,455      1,501      7,382      7,934
       Interest 
        component 
        of all 
        rentals             5,695      5,728      5,729      5,737      3,670 
                        ---------  ---------  ---------  ---------  ---------  
          Total fixed 
           charges         58,219     56,613     54,887     61,256     58,712 
                         ---------  ---------  ---------  ---------  ---------  
                         
     Earnings before 
      income taxes
      and fixed 
      charges 
      (excluding
      capitalized 
      interest)          $148,493   $147,429   $138,485   $132,952   $111,465 
                        =========  =========  =========  =========  =========

     Preferred 
      dividend
      requirements          4,311      3,807      3,342      3,200      3,200
     Ratio of income 
      from continuing 
      operations 
      before income 
      taxes to income 
      from continuing
      operations(2)          1.35       1.39       1.44       1.35       1.45 
                         ---------  ---------  ---------  ---------  ---------
     Preferred 
      dividend factor       5,820      5,292      4,812      4,320      4,640  
     Total fixed 
      charges              58,219     56,613     54,887     61,256     58,712
                         ---------  ---------  ---------  ---------  ---------
     Total fixed 
      charges and
      preferred 
      dividends          $ 64,039   $ 61,905   $ 59,699   $ 65,576   $ 63,352
                         =========  =========  =========  =========  =========
                                                                               
     Ratio of earnings 
      to fixed            
      charges and 
      preferred
      dividends              2.32       2.38       2.32       2.03       1.76 
                         =========  =========  =========  =========  =========

     Earnings before 
      income taxes
      and fixed 
      charges 
      (excluding 
      capitalized               
      interest)          $148,493   $147,429   $138,485   $132,952   $111,465
     Supplemental 
      charges              16,846     16,017     15,149     14,370     13,519
                         ---------  ---------  ---------  ---------  ---------

     Earnings before 
      income taxes 
      and fixed and 
      supplemental 
      charges
      (excluding 
      capitalized 
      interest)          $165,339   $163,446   $153,634   $147,322   $124,984
                         =========  =========  =========  =========  =========

     Total fixed 
      charges and 
      preferred
      dividends          $ 64,039   $ 61,905   $ 59,699   $ 65,576   $ 63,352
     Supplemental 
      charges              16,846     16,017     15,149     14,370     13,519 
       Fixed and 
        supplemental                    
        charges          $ 80,885   $ 77,922   $ 74,848   $ 79,946   $ 76,871
                         =========  =========  =========  =========  =========

     Supplemental 
      ratio of
      earnings to 
      fixed
      charges and 
      preferred 
      dividends(3)           2.04       2.10       2.05       1.84       1.63
                         =========  =========  =========  =========  =========

      --------------
      (1)   Ratios for prior periods have been restated to reflect 
            discontinued operations.

      (2)   Excludes $18.4 million of tax benefits recognized in 1995. See  
            Note 14 to the Company's 1995 Consolidated  Financial  Statements  
            in  the  Company's  Form  8-K  dated  February  16, 1996, 
            incorporated herein by reference.

      (3)   The supplemental ratio of earnings to fixed charges includes 
            the Company's obligation under a contract with Square Butte 
            Electric Cooperative (Square Butte) which extends through 2007,
            pursuant to which  the Company is purchasing  71 percent of  the 
            output of  a generating unit capable of generating up to 470  
            megawatts. The Company is obligated to  pay Square Butte all
            of Square  Butte's leasing, operating and debt  service 
            costs (less any amounts collected from the sale of power or  
            energy to others) that shall  not have been paid by  Square 
            Butte when  due.  See Note  12  to the  Company's 1995  
            Consolidated  Financial  Statements in  the Company's Form 8-K 
            dated February 16, 1996, incorporated herein by reference.


