Exhibit 12
THE NARRAGANSETT ELECTRIC COMPANY
Computation of Ratio of Earnings to Fixed Charges
(SEC Coverage)
(Unaudited)
12 Months
Ended
September 30, 1996 Years Ended December 31,
Actual -------------------------------------------------------------
(Unaudited) 1995 1994 1993 1992 1991
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(In Thousands)
Net Income $22,723 $23,910 $14,589 $14,274 $21,052 $16,820
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Add income taxes and fixed charges
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Current federal income taxes 9,311 7,212 1,020 2,183 4,608 1,558
Deferred federal income taxes 1,283 3,512 3,930 2,199 4,560 5,528
Investment tax credits - net (500) (503) (508) (508) (507) (500)
Interest on long-term debt 17,214 16,627 14,334 12,715 13,290 12,581
Interest on short-term debt and other 3,277 3,663 2,897 2,074 1,277 2,500
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Net earnings available for fixed charges $53,308 $54,421 $36,262 $32,937 $44,280 $38,487
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Fixed charges:
Interest on long-term debt $17,214 $16,627 $14,334 $12,715 $13,290 $12,581
Interest on short-term debt and other 3,277 3,663 2,897 2,074 1,277 2,500
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Total fixed charges $20,491 $20,290 $17,231 $14,789 $14,567 $15,081
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Ratio of earnings to fixed charges $2.60 2.68 2.10 2.23 3.04 2.55
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