Exhbit 12.1(D)

Western Massachusetts Electric Company

Ratio of Earnings to Fixed Charges

(In thousands)

	2006		2005					2004			2003			2002				2001
Earnings, as defined:
Net income	$	15,644	$		15,085			$	12,373		$	16,212		$	37,682			$	14,968
Income tax expense	7,766		9,294					7,187			11,687			5,843				6,560
Equity in losses/(earnings) of regional nuclear generating and transmission companies	241		(311				)	(149		)	(473		)	(1,626			)	(290			)
Dividends received from regional equity investees	372		103					687			1,715			2,067				1,297
Fixed charges, as below	20,462		19,548					17,097			14,946			15,394				16,741
Interest capitalized (not including AFUDC)	—		—					—			—			—				—
Total earnings, as defined	$	44,485	$			43,719		$	37,195		$	44,087		$	59,360			$	39,276
Fixed charges, as defined:
Interest on long-term debt	$	10,671	$			9,535		$	6,655		$	3,860		$		2,942		$		4,940
Interest on rate reduction bonds	6,723		7,570					8,332			8,994			9,587				6,251
Other interest	1,507		1,041					782			965			1,857				4,120
Rental interest factor	1,333		1,200					1,167			1,033			933				833
Amortized premiums, discounts and capitalized expenses related to indebtedness	228		202					161			94			75				597
Interest capitalized (not including AFUDC)	—		—					—			—			—				—
Total fixed charges, as defined	$	20,462	$	19,548				$	17,097		$	14,946		$		15,394		$		16,741
Ratio of Earnings to Fixed Charges	2.17		2.24					2.18			2.95			3.86				2.35