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                                                                     EXHIBIT 12c

                                 PSEG POWER LLC
               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES



                                                    For the Year Ended December 31,
                                                 -------------------------------------
                                                  2004    2003    2002    2001    2000
                                                 -----   -----   -----   -----   -----
                                                       (Millions, except ratios)
                                                                  
Earnings as Defined in Regulation S-K (A):

Pre-Tax Income from Continuing Operations        $ 494   $ 800   $ 781   $ 644   $ 521
Fixed Charges                                      254     225     219     213     209
Capitalized Interest                              (107)   (106)    (93)    (62)    (11)
Preferred Stock Dividend Requirements               --      --      --      --      --
                                                 -----   -----   -----   -----   -----
Earnings                                         $ 641   $ 919   $ 907   $ 795   $ 719
                                                 =====   =====   =====   =====   =====

Fixed Charges as Defined in Regulation S-K (B)

Interest Expense                                 $ 253   $ 223   $ 217   $ 206   $ 209
Subsidiaries' Preferred Securities
   Dividend Requirements                            --      --      --      --      --
Interest Factor in Rentals                           1       2       2       7      --
                                                 -----   -----   -----   -----   -----
Total Fixed Charges                              $ 254   $ 225   $ 219   $ 213   $ 209
                                                 =====   =====   =====   =====   =====
Ratio of Earnings to Fixed Charges                2.52    4.08    4.14    3.73    3.44
                                                 =====   =====   =====   =====   =====


(A)  The term "earnings" shall be defined as pretax income from continuing
     operations. Add to pretax 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.


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