Public Service Company of New Hampshire												Exhibit 12
Ratio of Earnings to Fixed Charges
		Three Months
(Thousands of Dollars)		Ended
		March 31, 2009		For the Years Ended December 31,
		(unaudited)		2008		2007		2006		2005		2004
Earnings, as defined:
Net income	$	17,495	$	58,067	$	54,434	$	35,323	$	41,739	$	46,641
Income tax expense		7,506		21,996		22,794		39,183		12,234		12,993
Equity in (earnings)/losses of regional nuclear
generating companies		(18)		(62)		(343)		74		(230)		(165)
Dividends received from regional equity investees		220		-		521		367		172		614
Fixed charges, as below		13,781		54,597		50,637		50,092		49,751		47,211
Less: Interest capitalized (including AFUDC)		(860)		(2,967)		(2,985)		(2,768)		(1,896)		(272)
Total earnings, as defined	$	38,124	$	131,631	$	125,058	$	122,271	$	101,770	$	107,022
Fixed charges, as defined:
Interest on long-term debt (a)	$	8,104	$	32,655	$	26,029	$	24,100	$	20,481	$	17,441
Interest on rate reduction bonds		3,658		15,969		18,013		20,828		24,074		26,901
Other interest (b)		792		1,539		2,243		829		1,733		1,197
Rental interest factor		367		1,467		1,367		1,567		1,567		1,400
Interest capitalized (including AFUDC)		860		2,967		2,985		2,768		1,896		272
Total fixed charges, as defined	$	13,781	$	54,597	$	50,637	$	50,092	$	49,751	$	47,211
Ratio of Earnings to Fixed Charges		2.77		2.41		2.47		2.44		2.05		2.27
(a) Interest on long-term debt amounts include amortized premiums, discounts and capitalized expenses related to indebtedness.
(b) For the three months ended March 31, 2009, other interest includes interest related to Financial Accounting Standards Board Interpretation No. 48, "Accounting for Uncertainty in Income Taxes - an Interpretation of FASB Statement No. 109."