EXHIBIT 12.4
PSEG ENERGY HOLDINGS L.L.C.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
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| For the Nine |
| For the Years Ended |
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| September 30, |
| December 31, |
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| 2006 |
| 2005 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
| 2001 |
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Earnings as Defined in Regulation S-K (A): |
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Pre-tax (Loss) Income from Continuing Operations |
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| (6 | ) | $ | 169 |
| $ | 269 |
| $ | 199 |
| $ | 249 |
| $ | (369 | ) | $ | 237 |
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(Income)/Loss from Equity Investees, Net of Distributions |
| (55 | ) |
| (77 | ) |
| (28 | ) |
| 78 |
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| 60 |
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| (2 | ) |
| (59 | ) | |
Fixed Charges |
| 152 |
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| 169 |
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| 214 |
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| 224 |
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| 215 |
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| 219 |
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| 186 |
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Capitalized Interest |
| (1 | ) |
| (1 | ) |
| (1 | ) |
| (3 | ) |
| (10 | ) |
| (12 | ) |
| (13 | ) | |
Total Earnings | $ | 90 |
| $ | 260 |
| $ | 454 |
| $ | 498 |
| $ | 514 |
| $ | (164 | ) | $ | 351 |
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Fixed Charges as Defined in Regulation S-K (B) |
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Interest Expense | $ | 151 |
| $ | 168 |
| $ | 213 |
| $ | 223 |
| $ | 214 |
| $ | 218 |
| $ | 183 |
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Interest Factor in Rentals |
| 1 |
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| 1 |
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| 1 |
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| 1 |
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| 1 |
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| 1 |
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| 3 |
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Total Fixed Charges | $ | 152 |
| $ | 169 |
| $ | 214 |
| $ | 224 |
| $ | 215 |
| $ | 219 |
| $ | 186 |
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Ratio of Earnings to Fixed Charges (C) |
| 0.59 |
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| 1.53 |
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| 2.12 |
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| 2.22 |
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| 2.39 |
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| (0.75 | ) |
| 1.88 |
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(A) | The term “earnings” is defined as pre-tax income from continuing operations before income or loss from equity investees plus distributed income from equity investees. Add to pre-tax income the amount of fixed charges adjusted to exclude the amount of any interest capitalized during the period. |
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(B) | Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense (c) an estimate of interest implicit in rentals. |
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(C) | The ratio of earnings to fixed charges for the nine months ended September 30, 2006 was 0.59, as noted above, which represents a deficiency of $62 million. The ratio of earnings to fixed charges for the year ended December 31, 2002 was (0.75), as noted above, which represents a deficiency of $383 million. |