EXHIBIT 12.4
PSEG ENERGY HOLDINGS L.L.C.
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
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| For the Six |
| For the Years Ended |
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| 2007 |
| 2006 |
| 2006 |
| 2005 |
| 2004 |
| 2003 |
| 2002 |
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Earnings as Defined in Regulation S-K (A): |
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Pre-tax (Loss) Income from Continuing Operations |
| $ | 90 |
| $ | (135 | ) | $ | (11 | ) | $ | 251 |
| $ | 185 |
| $ | 227 |
| $ | (389 | ) |
Loss/(Income) from Equity Investees, Net of Distributions |
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| 25 |
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| (31 | ) |
| (37 | ) |
| (27 | ) |
| 78 |
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| 59 |
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| (3 | ) |
Fixed Charges |
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| 81 |
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| 98 |
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| 199 |
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| 208 |
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| 216 |
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| 210 |
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| 215 |
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Capitalized Interest |
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| — |
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| — |
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| (1 | ) |
| (1 | ) |
| (2 | ) |
| (11 | ) |
| (13 | ) |
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Total Earnings |
| $ | 196 |
| $ | (68 | ) | $ | 150 |
| $ | 431 |
| $ | 477 |
| $ | 485 |
| $ | (190 | ) |
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Fixed Charges as Defined in Regulation |
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Interest Expense |
| $ | 81 |
| $ | 97 |
| $ | 197 |
| $ | 206 |
| $ | 215 |
| $ | 209 |
| $ | 213 |
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Interest Factor in Rentals |
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| — |
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| 1 |
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| 2 |
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| 2 |
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| 1 |
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| 1 |
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| 2 |
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Total Fixed Charges |
| $ | 81 |
| $ | 98 |
| $ | 199 |
| $ | 208 |
| $ | 216 |
| $ | 210 |
| $ | 215 |
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Ratio of Earnings to Fixed Charges (C) |
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| 2.42 |
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| (0.69 | ) |
| 0.75 |
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| 2.07 |
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| 2.21 |
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| 2.31 |
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| (0.88 | ) |
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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 six months ended June 30, 2006 was (0.69), as noted above, which represents a deficiency of $166 million. The ratio of earnings to fixed charges for the year ended December 31, 2002 was (0.88), as noted above, which represents a deficiency of $405 million. |