Exhibit 12.01

SOUTHWESTERN PUBLIC SERVICE CO.

STATEMENT OF COMPUTATION OF

RATIO OF EARNINGS TO FIXED CHARGES

(amounts in thousands, except ratio)

	Year Ended Dec. 31
	2012		2011		2010		2009		2008
Earnings, as defined:
Pretax income from operations	$	168,598	$	145,034	$	126,933	$	108,245	$	52,769
Add: Fixed charges		103,760		100,901		100,518		114,684		74,525
Total earnings, as defined	$	272,358	$	245,935	$	227,451	$	222,929	$	127,294
Fixed charges, as defined:
Interest charges	$	69,074	$	65,095	$	63,912	$	71,688	$	61,090
Interest component of leases		34,686		35,806		36,606		42,996		13,435
Total fixed charges, as defined	$	103,760	$	100,901	$	100,518	$	114,684	$	74,525
Ratio of earnings to fixed charges		2.6		2.4		2.3		1.9		1.7