EX-12.2 4 c53412_ex12-2.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

Exhibit 12.2

PUBLIC SERVICE ELECTRIC AND GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

    For the Three Months  
For the Years Ended
    Ended March 31,   December 31,
    2008   2007   2007   2006   2005   2004   2003
    (Millions, except ratios)
Earnings as Defined in Regulation S-K (A):                                          
 
Pre-tax Income from Continuing Operations   $ 202   $ 231   $ 637   $ 448   $ 583   $ 592   $ 376
Fixed Charges     81     81     332     346     342     362     390
Earnings   $ 283   $ 312   $ 969   $ 794   $ 925   $ 954   $ 766
                                           
Fixed Charges as Defined in Regulation S-K (B)                                          
                                           
Interest Expense   $ 81   $ 81   $ 332   $ 346   $ 342   $ 362   $ 390
Interest Factor in Rentals     -     -     -     -     -     -     -
Total Fixed Charges   $ 81   $ 81   $ 332   $ 346   $ 342   $ 362   $ 390
                                           
Ratio of Earnings to Fixed Charges     3.49     3.85     2.92     2.29     2.70     2.64     1.96

(A)      The term "earnings" shall be defined as pretax income from continuing operations. Add to pretax income the amount of fixed charges adjusted to exclude the amount of any interest capitalized during the period.
 
(B)      Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense and (c) an estimate of interest implicit in rentals.