EXHIBIT 12

PUBLIC SERVICE ENTERPRISE GROUP INCORPORATED

COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

	Six Months Ended June 30,						Years Ended December 31,
	2012			2011			2011			2010			2009			2008			2007
	(Millions, except ratios)
Earnings as Defined in Regulation S-K (A):
Pre-tax Income from Continuing Operations	$	1,062		$	1,338		$	2,384		$	2,616		$	2,636		$	1,806		$	2,303
(Income) Loss from Equity Investees, net of Distributions		4			(4	)		(4	)		(19	)		(25	)		(5	)		(10	)
Fixed Charges		234			265			522			571			600			633			755
Capitalized Interest		(12	)		(4	)		(14	)		(67	)		(45	)		(37	)		(26	)
Preferred Securities Dividend Requirements of Subsidiaries		0			0			0			(2	)		(6	)		(6	)		(6	)
Total Earnings	$	1,288		$	1,595		$	2,888		$	3,099		$	3,160		$	2,391		$	3,016
Fixed Charges as Defined in Regulation S-K (B)
Interest Expense	$	227		$	258		$	509		$	555		$	581		$	615		$	737
Interest Factor in Rentals		7			7			13			14			13			12			12
Preferred Securities Dividend Requirements of Subsidiaries		0			0			0			2			6			6			6
Total Fixed Charges	$	234		$	265		$	522		$	571		$	600		$	633		$	755
Ratio of Earnings to Fixed Charges		5.50			6.02			5.53			5.43			5.27			3.78			3.99

(A) The term “earnings” shall be defined as pre-tax Income from Continuing Operations before income or loss from equity investees plus distributed income from equity investees. Add to pre-tax income the amount of fixed charges adjusted to exclude (a) the amount of any interest capitalized during the period and (b) the actual amount of any preferred securities dividend requirements of majority-owned subsidiaries stated on a pre-tax level.

(B) Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense, (c) an estimate of interest implicit in rentals and (d) preferred securities dividend requirements of majority-owned subsidiaries stated on a pre-tax level.