EX-12.1 5 c57480_ex12-1.htm -- Converted by SEC Publisher, created by BCL Technologies Inc., for SEC Filing

EXHIBIT 12.1

PSEG POWER LLC
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

 
 
  For the Three Months Ended
March 31, 		   For the Years Ended
December 31,
    2009       2008       2008       2007     2006     2005       2004  
                  (Millions, except ratios)
Earnings as Defined in Regulation S-K (A):                                                      
 
Pre-tax Income from Continuing Operations $ 318     $ 275     $ 1,711     $ 1,590     $ 878     $ 752     $ 594  
Fixed Charges   52       49       197       193       190       197       198  
Capitalized Interest (B)   (8 )     (7 )     (31 )     (23 )     (30 )     (89 )     (107 )
Preferred Stock Dividend Requirements   -       -       -       -       -       -       -  
Total Earnings $ 362     $ 317     $ 1,877     $ 1,760     $ 1,038     $ 860     $ 685  
 
Fixed Charges as Defined in Regulation S-K (B)                                                      
 
Interest Expense $ 51     $ 49     $ 195     $ 192     $ 189     $ 195     $ 197  
Interest Factor in Rentals   1       -       2       1       1       2       1  
Preferred Stock Dividend Requirements   -       -       -       -       -       -       -  
Total Fixed Charges $ 52     $ 49     $ 197     $ 193     $ 190     $ 197     $ 198  
 
Ratio of Earnings to Fixed Charges   6.96       6.47       9.53       9.12       5.46       4.37       3.46  

(A)

The term "earnings" shall be defined as pre-tax Income from Continuing Operations. Add to pre-tax 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.