EXHIBIT 12.1  

NV ENERGY, INC.

RATIOS OF EARNINGS TO FIXED CHARGES

(Dollars in Thousands)

	Three Months Ended March 31,						Year Ended December 31,
	2010			2009			2009			2008			2007			2006			2005
EARNINGS AS DEFINED:
Net Income (Loss)	$	(1,721	)	$	(22,244	)	$	182,936		$	208,887		$	197,295		$	279,792		$	86,137
Income taxes (benefit)		1,256			(11,414	)		75,451			95,354			87,555			145,605			43,118
Fixed Charges		87,509			90,043			360,896			335,868			310,876			336,024			319,654
Capitalized Interest (allowance for borrowed funds used during construction)		(4,939	)		(5,146	)		(20,229	)		(29,527	)		(25,967	)		(17,119	)		(24,691	)
Preferred Stock Dividend Requirement		-			-			-			-			-			(3,602	)		(6,000	)
Total	$	82,105		$	51,239		$	599,054		$	610,582		$	569,759		$	740,700		$	418,218
FIXED CHARGES AS DEFINED:
Interest Expensed and Capitalized (1)	$	87,509		$	90,043		$	360,896		$	335,868		$	310,876		$	332,422		$	313,654
Preferred Stock Dividend Requirement		-			-			-			-			-			3,602			6,000
Total	$	87,509		$	90,043		$	360,896		$	335,868		$	310,876		$	336,024		$	319,654
RATIO OF EARNINGS TO FIXED CHARGES								1.66			1.82			1.83			2.20			1.31
DEFICIENCY	$	5,404		$	38,804

(1) Includes amortization of premiums, discounts, and capitalized debt expense and interest component of rent expense.

For the purpose of calculating the ratios of earnings to fixed charges, “Earnings” represents net income or (loss) adjusted for income taxes (benefits) and fixed charges excluding capitalized interest.  For the years ended December 31, 2006 and 2005, “Earnings” represents net income or (loss) adjusted for pre-tax preferred stock dividend requirement of SPPC income taxes and fixed charges excluding capitalized interest.  “Fixed charges” represent the aggregate of interest charges on long-term debt (whether expensed or capitalized), the portion of rental expense deemed to be attributable to interest, and the pre-tax preferred stock dividend requirement of SPPC.