The best replacement for 12 2 wire is 12 3.

The best alternatives to 12 2 wire are rated as following:
★★★★★  12 3
★★★  14 2 wire
★★  14 2

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Speaking about 12 2 wire, one probably shouldn't forget about 15 amp breaker.

Other search terms related to 12 2 wire and their ratings are:
★★★★★ 15 amp breaker
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12 2 wire
12 3
14 2 wire