Northern States Power 8-K Other Events

Exhibit 12.01

NSP-MINNESOTA AND SUBSIDIARIES

STATEMENT OF COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

(amounts in thousands, except ratio)

	Six Months Ended June 30, 2017		Year Ended Dec. 31
			2016		2015		2014		2013		2012
Earnings, as defined:
Pretax income from operations	$	254,613	$	713,263	$	537,573	$	603,005	$	575,203	$	515,665
Add: Fixed charges	128,718		255,779		240,148		233,386		227,301		243,317
Total earnings, as defined	$	383,331	$	969,042	$	777,721	$	836,391	$	802,504	$	758,982
Fixed charges, as defined:
Interest charges	$	114,971	$	226,547	$	208,763	$	199,667	$	191,889	$	201,158
Interest component of leases	13,747		29,232		31,385		33,719		35,412		42,159
Total fixed charges, as defined	$	128,718	$	255,779	$	240,148	$	233,386	$	227,301	$	243,317
Ratio of earnings to fixed charges	3.0		3.8		3.2		3.6		3.5		3.1