Public Service Company of New Hampshire												Exhibit 12
Ratio of Earnings to Fixed Charges
(Unaudited)
(Thousands of Dollars)		Three Months
		Ended
		March 31,	For the Years Ended December 31,
		2013		2012		2011		2010		2009		2008
Earnings, as defined:
Net income	$	28,996	$	96,882	$	100,267	$	90,067	$	65,570	$	58,067
Income tax expense		17,984		60,993		49,945		50,801		31,990		21,996
Equity in earnings of regional nuclear
generating companies		(7)		(8)		(7)		(23)		(50)		(62)
Dividends received from regional equity investees		42		-		-		80		220		-
Fixed charges, as below		12,561		52,769		52,111		54,721		51,227		54,597
Less: Interest capitalized (including AFUDC)		(152)		(1,579)		(7,064)		(6,621)		(3,138)		(2,967)
Total earnings, as defined	$	59,424	$	209,057	$	195,252	$	189,025	$	145,819	$	131,631
Fixed charges, as defined:
Interest on long-term debt (a)	$	11,796	$	46,228	$	36,832	$	36,220	$	33,045	$	32,655
Interest on rate reduction bonds		85		2,687		6,276		9,660		13,128		15,969
Other interest (b)		287		1,313		1,039		1,187		316		1,539
Rental interest factor		241		962		900		1,033		1,600		1,467
Interest capitalized (including AFUDC)		152		1,579		7,064		6,621		3,138		2,967
Total fixed charges, as defined	$	12,561	$	52,769	$	52,111	$	54,721	$	51,227	$	54,597
Ratio of Earnings to Fixed Charges		4.73		3.96		3.75		3.45		2.85		2.41
(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.