Public Service Company of New Hampshire and Subsidiary												Exhibit 12
Ratio of Earnings to Fixed Charges
(Unaudited)
	Nine Months
	Ended
	September 30,		For the Years Ended December 31,
(Thousands of Dollars)	2014			2013		2012		2011		2010		2009
Earnings, as defined:
Net income	$	84,955	$	111,397	$	96,882	$	100,267	$	90,067	$	65,570
Income tax expense		52,199		71,101		60,993		49,945		50,801		31,990
Equity in earnings of regional nuclear      generating companies		(5)		(12)		(8)		(7)		(23)		(50)
Dividends received from regional equity investees		-		42		-		-		80		220
Fixed charges, as below		34,966		47,318		52,769		52,111		54,721		51,227
Less: Interest capitalized (including AFUDC)		(489)		(500)		(1,579)		(7,064)		(6,621)		(3,138)
Total earnings, as defined	$	171,626	$	229,346	$	209,057	$	195,252	$	189,025	$	145,819
Fixed charges, as defined:
Interest on long-term debt (a)	$	33,812	$	44,370	$	46,228	$	36,832	$	36,220	$	33,045
Interest on rate reduction bonds		-		(154)		2,687		6,276		9,660		13,128
Other interest (b)		183		1,960		1,313		1,039		1,187		316
Rental interest factor		482		642		962		900		1,033		1,600
Interest capitalized (including AFUDC)		489		500		1,579		7,064		6,621		3,138
Total fixed charges, as defined	$	34,966	$	47,318	$	52,769	$	52,111	$	54,721	$	51,227
Ratio of Earnings to Fixed Charges		4.91		4.85		3.96		3.75		3.45		2.85
(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.