1
EXHIBIT 12(A)
PUBLIC SERVICE ELECTRIC AND GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
YEAR ENDED DECEMBER 31,
-------------------------------------------------------------
1989 1990 1991 1992 1993
--------- --------- --------- --------- ---------
(THOUSANDS OF DOLLARS)
Net Income....................... $ 544,374 $ 537,619 $ 545,479 $ 475,936 $ 614,868
Plus Income Taxes................ 214,299 209,360 261,912 223,782 307,414
--------- --------- --------- --------- ---------
Net Income Before Income Taxes... 758,673 746,979 807,391 699,718 922,282
--------- --------- --------- --------- ---------
Fixed Charges
Interest Charges............... 333,717 346,020 358,517 401,902 389,956
Interest Factor in Rentals..... 8,908 9,162 9,311 9,591 11,090
--------- --------- --------- --------- ---------
Total.................. 342,625 355,182 367,828 411,493 401,046
--------- --------- --------- --------- ---------
Earnings Before Fixed Charges.... $1,101,298 $1,102,161 $1,175,219 $1,111,211 $1,323,328
--------- --------- --------- --------- ---------
--------- --------- --------- --------- ---------
Ratio............................ 3.21 3.10 3.20 2.70 3.30
---- ---- ---- ---- ----
---- ---- ---- ---- ----
2