Exhibit 12
THE NARRAGANSETT ELECTRIC COMPANY
Computation of Ratio of Earnings to Fixed Charges
(SEC Coverage)
(Unaudited)
12 Months
Ended
March 31, 1995 Years Ended December 31,
Actual -------------------------------------------------------------
(Unaudited) 1994 1993 1992 1991 1990
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(In Thousands)
Net Income $16,040 $14,589 $14,274 $21,052 $16,820 $17,599
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Add income taxes and fixed charges
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Current federal income taxes 906 1,020 2,183 4,608 1,558 7,624
Deferred federal income taxes 4,619 3,930 2,199 4,560 5,528 351
Investment tax credits - net (507) (508) (508) (507) (500) (504)
Interest on long-term debt 14,991 14,334 12,715 13,290 12,581 11,016
Interest on short-term debt and other 3,443 2,897 2,074 1,277 2,500 2,968
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Net earnings available for fixed charges $39,492 $36,262 $32,937 $44,280 $38,487 $39,054
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Fixed charges:
Interest on long-term debt $14,991 $14,334 $12,715 $13,290 $12,581 $11,016
Interest on short-term debt and other 3,443 2,897 2,074 1,277 2,500 2,968
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Total fixed charges $18,434 $17,231 $14,789 $14,567 $15,081 $13,984
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Ratio of earnings to fixed charges 2.14 2.10 2.23 3.04 2.55 2.79
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