Exhibit 12.01

XCEL ENERGY INC. AND SUBSIDIARIES

STATEMENT OF COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

(amounts in thousands, except ratio)

	Year Ended Dec. 31
	2011		2010		2009		2008		2007
Earnings, as defined:
Pretax income from continuing operations	$	1,309,690	$	1,188,591	$	1,056,838	$	984,406	$	870,383
Add: Fixed charges		725,375		708,529		705,740		654,080		722,561
Add: Dividends from unconsolidated subsidiaries		34,034		32,538		29,059		-		-
Deduct: Equity earnings of unconsolidated subsidiaries		30,527		29,948		24,664		3,571		1,900
Total earnings, as defined	$	2,038,572	$	1,899,710	$	1,766,973	$	1,634,915	$	1,591,044
Fixed charges, as defined:
Interest charges	$	591,098	$	577,291	$	561,654	$	552,919	$	563,438
Interest charges on life insurance policy borrowings		332		372		324		248		105,396
Interest component of leases		133,945		130,866		143,762		100,913		53,727
Total fixed charges, as defined	$	725,375	$	708,529	$	705,740	$	654,080	$	722,561
Ratio of earnings to fixed charges		2.8		2.7		2.5		2.5		2.2