Public Service Enterprise (PEG) 10-Q2009 Q2 Quarterly report

Filed: 3 Aug 09, 12:00am

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EXHIBIT 12.1

PSEG POWER LLC

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES


		For the Six Months EndedJune 30,						For the Years Ended December 31,
		2009			2008			2008			2007			2006			2005			2004
								(Millions, except ratios)
Earnings as Defined in Regulation S-K(A):

Pre-tax Income from ContinuingOperations	$	946		$	867		$	1,711		$	1,590		$	878		$	752		$	594
Fixed Charges		101			99			197			193			190			197			198
Capitalized Interest (B)		(18	)		(15	)		(31	)		(23	)		(30	)		(89	)		(107	)
Total Earnings	$	1,029		$	951		$	1,877		$	1,760		$	1,038		$	860		$	685

Fixed Charges as Defined in Regulation S-K

Interest Expense	$	100		$	98		$	195		$	192		$	189		$	195		$	197
Interest Factor in Rentals		1			1			2			1			1			2			1
Total Fixed Charges	$	101		$	99		$	197		$	193		$	190		$	197		$	198

Ratio of Earnings to Fixed Charges		10.19			9.61			9.53			9.12			5.46			4.37			3.46

(A)	The term "earnings" shall be defined as pre-tax Income from Continuing Operations. Add to pre-tax income the amount of fixed charges adjusted to exclude the amount of any interest capitalized during the period.

(B)	Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense and (c) an estimate of interest implicit in rentals.