Exhibit 12.1
                                                                       9/30/98
                              THE SOUTHERN COMPANY
            Computation of ratio of earnings to fixed charges for the
                     the five years ended December 31, 1997
                    and the twelve months ended June 30, 1998

                                                                                                                       Twelve
                                                                                                                       Months
                                                                                                                       Ended
                                                                    Year ended December 31,                          June 30,
                                            ====================================================================     ==========
                                                1993          1994           1995          1996          1997           1998
                                            -----------------------------------Thousands of Dollars----------------------------
                                                                                                          
EARNINGS  AS DEFINED  IN ITEM 503 OF REGULATION S-K:
   Income  Before  Interest  Charges        $1,826,864     $1,756,149     $1,900,288    $1,944,144    $2,037,380     $2,242,758
      Currently payable  federal & state
        income taxes                           484,926        685,047        656,519       651,213       650,939        679,330
      Deferred  federal & state income 
        taxes, net                             209,376         (3,881)        86,938        56,603        23,959         (4,233)
      Other income taxes, net                  (17,535)         4,145         25,194        49,802       164,177        170,207
      AFUDC - Debt funds                        13,251         18,123         20,267        19,073        14,053         11,071
                                            -----------     ---------     -----------   -----------   -----------    -----------
         Earnings as defined                $2,516,882     $2,459,583     $2,689,206    $2,720,835    $2,890,508     $3,099,133
                                            ===========     =========     ===========   ===========   ===========    ===========




FIXED CHARGES AS DEFINED IN ITEM 503 OF REGULATION S-K:
   Interest  on long-term  debt             $  594,746     $  567,120     $  557,199    $  530,067    $  679,696     $  715,101
   Interest on interim  obligations             29,831         33,401         62,693       107,008       111,694        117,702
   Amort of debt discount, premium & 
       expense, net                             26,295         29,911         43,960        33,184        34,233         58,351
   Other interest  charges                      87,086         46,945         52,712        68,099       182,827        225,841
                                            -----------     ---------      ---------     ---------   -----------     ----------
         Fixed charges as defined           $  737,958     $  677,377     $  716,564    $  738,358    $1,008,450     $1,116,995
                                            ===========     =========      =========     =========   ===========      =========



RATIO OF EARNINGS TO FIXED CHARGES                3.41           3.63           3.75          3.68          2.87           2.77
                                                  ====           ====           ====          ====          ====           ====