Exhibit 12.01

EXHIBIT 12(a)

NORTHERN STATES POWER COMPANY — MINNESOTA
AND SUBSIDIARIES

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES

(not covered by Report of Independent Auditor)

			Year Ended December 31,
			2002		2001		2000		1999		1998
					(in thousands, except ratios)
Earnings:
	Net income		$	200,222	$	207,865	$	111,224	$	158,980	$	210,206
	Provisions for Federal and state taxes on income			108,141		132,732		92,191		97,431		124,713
	Fixed charges as below			123,220		112,780		146,192		125,431		113,160
	Less: Undistributed equity in earnings of unconsolidated affiliates			—		—		—		—		—
		Total	$	431,583	$	453,377	$	349,607	$	381,842	$	448,079
Fixed Charges:
	Interest charges, excluding AFC — debt		$	107,470	$	97,030	$	130,442	$	109,681	$	97,410
	Distributions on redeemable preferred securities of subsidiary trust			15,750		15,750		15,750		15,750		15,750
		Total	$	123,220	$	112,780	$	146,192	$	125,431	$	113,160
Ratio of earnings to fixed charges				3.5		4.0		2.4		3.0		4.0

EXHIBIT 12(b)

NORTHERN STATES POWER COMPANY — WISCONSIN

COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES

(not covered by Report of Independent Auditor)

			Year Ended December 31,
			2002		2001		2000		1999		1998
					(in thousands, except ratios)
Earnings:
	Net income		$	54,373	$	36,392	$	30,296	$	36,366	$	32,195
	Provisions for Federal and state taxes on income			36,925		21,158		20,690		25,302		20,468
	Fixed charges as below			23,467		23,139		21,557		19,627		19,189
	Less: Undistributed equity in earnings of unconsolidated affiliates			232		553		411		409		3
		Total	$	114,533	$	80,136	$	72,132	$	80,886	$	71,849
Fixed Charges:
	Interest charges, excluding AFC — debt		$	23,467	$	23,139	$	21,557	$	19,627	$	19,189
	Distributions on redeemable preferred securities of subsidiary trust			—		—		—		—		—
		Total	$	23,467	$	23,139	$	21,557	$	19,627	$	19,189
Ratio of earnings to fixed charges				4.9		3.5		3.3		4.1		3.7

EXHIBIT 12(c)

PUBLIC SERVICE COMPANY OF COLORADO
AND SUBSIDIARIES

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES

(not covered by Report of Independent Auditor)

			Year Ended December 31,
			2002		2001		2000		1999		1998
					(in thousands, except ratios)
Earnings:
	Net income		$	264,680	$	273,033	$	196,128	$	204,265	$	200,103
	Provisions for Federal and state taxes on income			128,686		132,501		102,770		96,574		101,494
	Fixed charges as below			237,765		226,651		244,952		234,544		210,539
	Less: Undistributed equity in earnings of unconsolidated affiliates			—		—		—		—		—
		Total	$	631,131	$	632,185	$	543,850	$	535,383	$	512,136
Fixed Charges:
	Interest charges, excluding AFC — debt		$	223,021	$	211,451	$	229,752	$	219,344	$	200,828
	Distributions on redeemable preferred securities of subsidiary trust			14,744		15,200		15,200		15,200		9,711
		Total	$	237,765	$	226,651	$	244,952	$	234,544	$	210,539
Ratio of earnings to fixed charges				2.7		2.8		2.2		2.3		2.4

EXHIBIT 12(d)

SOUTHWESTERN PUBLIC SERVICE COMPANY
AND SUBSIDIARIES

COMPUTATION OF RATIO OF EARNINGS
TO FIXED CHARGES

(not covered by Report of Independent Auditor)

			Year Ended December 31,
			2002		2001		2000		1999		1998
					(in thousands, except ratios)
Earnings:
	Net income		$	73,882	$	130,100	$	69,492	$	102,709	$	114,987
	Provisions for Federal and state taxes on income			43,363		71,175		58,776		59,399		65,696
	Fixed charges as below			54,913		57,276		67,713		64,888		64,052
	Less: Undistributed equity in earnings of unconsolidated affiliates			—		—		—		—		—
		Total	$	172,158	$	258,551	$	195,981	$	226,996	$	244,735
Fixed Charges:
	Interest charges, excluding AFC — debt		$	47,063	$	49,426	$	59,863	$	57,038	$	56,202
	Distributions on redeemable preferred securities of subsidiary trust			7,850		7,850		7,850		7,850		7,850
		Total	$	54,913	$	57,276	$	67,713	$	64,888	$	64,052
Ratio of earnings to fixed charges				3.1		4.5		2.9		3.5		3.8