Public Service Company of New Hampshire												Exhibit 12
Ratio of Earnings to Fixed Charges
(Unaudited)
(Thousands of Dollars)		Six Months
		Ended	For the Years Ended December 31,
		June 30, 2012		2011		2010		2009		2008		2007
Earnings, as defined:
Net income	$	42,494	$	100,267	$	90,067	$	65,570	$	58,067	$	54,434
Income tax expense		26,931		49,945		50,801		31,990		21,996		22,794
Equity in earnings of regional nuclear
generating companies		(4)		(7)		(23)		(50)		(62)		(343)
Dividends received from regional equity investees		-		-		80		220		-		521
Fixed charges, as below		26,838		52,111		54,721		51,227		54,597		50,637
Less: Interest capitalized (including AFUDC)		(791)		(7,064)		(6,621)		(3,138)		(2,967)		(2,985)
Total earnings, as defined	$	95,468	$	195,252	$	189,025	$	145,819	$	131,631	$	125,058
Fixed charges, as defined:
Interest on long-term debt (a)	$	23,103	$	36,832	$	36,220	$	33,045	$	32,655	$	26,029
Interest on rate reduction bonds		1,802		6,276		9,660		13,128		15,969		18,013
Other interest (b)		692		1,039		1,187		316		1,539		2,243
Rental interest factor		450		900		1,033		1,600		1,467		1,367
Interest capitalized (including AFUDC)		791		7,064		6,621		3,138		2,967		2,985
Total fixed charges, as defined	$	26,838	$	52,111	$	54,721	$	51,227	$	54,597	$	50,637
Ratio of Earnings to Fixed Charges		3.56		3.75		3.45		2.85		2.41		2.47
(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness.
(b) For the years ended December 31, 2011, 2010 and 2009, other interest includes interest related to accounting for uncertain tax positions.