EX-12.1 3 c58378_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 Six Months
Ended June 30,		       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 $ 946     $ 867     $ 1,711     $ 1,590     $ 878     $ 752     $ 594  
Fixed Charges   101       99       197       193       190       197       198  
Capitalized Interest (B)   (18 )     (15 )     (31 )     (23 )     (30 )     (89 )     (107 )
Total Earnings $ 1,029     $ 951     $ 1,877     $ 1,760     $ 1,038     $ 860     $ 685  
                                                       
Fixed Charges as Defined in Regulation S-K                                                      
                                                       
Interest Expense $ 100     $ 98     $ 195     $ 192     $ 189     $ 195     $ 197  
Interest Factor in Rentals   1       1       2       1       1       2       1  
Total Fixed Charges $ 101     $ 99     $ 197     $ 193     $ 190     $ 197     $ 198  
                                                       
Ratio of Earnings to Fixed Charges   10.19       9.61       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.