Exhibit 12.01

NORTHERN STATES POWER COMPANY — WISCONSIN

STATEMENT OF COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

(Thousands of Dollars)

	Year ended Dec. 31,
	2005		2004			2003		2002		2001
Earnings as defined:
Pretax income	$	41,633	$	89,600		$	84,506	$	91,298	$	57,550
Add:  Fixed Charges	23,411		21,871			23,249		23,467		23,139
Deduct: Undistributed equity in earnings (loss) of unconsolidated affiliates	—		(10		)	21		232		553
Earnings as defined	$	65,044	$	111,481		$	107,734	$	114,533	$	80,136
Fixed Charges:
Interest charges	$	23,411	$	21,871		$	23,249	$	23,467	$	23,139
Distributions on redeemable preferred securities of subsidiary trust	—		—			—		—		—
Total fixed charges	$	23,411	$	21,871		$	23,249	$	23,467	$	23,139
Ratio of earnings to fixed charges	2.8		5.1			4.6		4.9		3.5