Exhibit 12

Public Service Company of New Hampshire and Subsidiary
Ratio of Earnings to Fixed Charges

(Unaudited)

	Three Months
	Ended
	March 31,			For the Years Ended December 31,
(Thousands of Dollars)	2014			2013			2012			2011			2010			2009
Earnings, as defined:
Net income	$	32,638		$	111,397		$	96,882		$	100,267		$	90,067		$	65,570
Income tax expense	19,700			71,101			60,993			49,945			50,801			31,990
Equity in earnings of regional nuclear generating companies	(2		)	(12		)	(8		)	(7		)	(23		)	(50		)
Dividends received from regional equity investees	—			42			—			—			80			220
Fixed charges, as below	12,248			47,318			52,769			52,111			54,721			51,227
Less: Interest capitalized (including AFUDC)	(116		)	(500		)	(1,579		)	(7,064		)	(6,621		)	(3,138		)
Total earnings, as defined	$	64,468		$	229,346		$	209,057		$	195,252		$	189,025		$	145,819
Fixed charges, as defined:
Interest on long-term debt (a)	$	11,526		$	44,370		$	46,228		$	36,832		$	36,220		$	33,045
Interest on rate reduction bonds	—			(154		)	2,687			6,276			9,660			13,128
Other interest (b)	445			1,960			1,313			1,039			1,187			316
Rental interest factor	161			642			962			900			1,033			1,600
Interest capitalized (including AFUDC)	116			500			1,579			7,064			6,621			3,138
Total fixed charges, as defined	$	12,248		$	47,318		$	52,769		$	52,111		$	54,721		$	51,227
Ratio of Earnings to Fixed Charges	5.26			4.85			3.96			3.75			3.45			2.85

(a) Interest on long-term debt includes amortized premiums, discounts and capitalized expenses related to indebtedness.

(b) For the years ended December 31, 2011, 2010 and 2009, other interest includes interest related to accounting for uncertain tax positions.