EXHIBIT 12.01

XCEL ENERGY INC.
AND SUBSIDIARIES

COMPUTATION OF RATIO OF CONSOLIDATED EARNINGS
TO CONSOLIDATED FIXED CHARGES

(not covered by Report of Independent Public Accountants)

			Year Ended December 31,
			2000		1999		1998		1997		1996
			(in thousands, except ratios)
Earnings:
	Net Income		$	526,828	$	570,933	$	624,330	$	388,242	$	546,880
	Provisions for Federal and state taxes on income			304,865		179,673		240,391		230,629		300,463
	Fixed charges as below			791,187		472,364		402,608		375,176		311,033
	Less: Undistributed equity in earnings of unconsolidated affiliates			87,019		67,926		56,953		36,532		26,365
		Total	$	1,535,861	$	1,155,044	$	1,210,376	$	957,515	$	1,132,011
Fixed Charges:
	Interest charges, excluding AFC—debt		$	752,387	$	433,564	$	369,297	$	352,889	$	309,507
	Distributions on redeemable preferred securities of subsidiary trust			38,800		38,800		33,311		22,287		1,526
		Total	$	791,187	$	472,364	$	402,608	$	375,176	$	311,033
Ratio of earnings to fixed charges				1.9		2.4		3.0		2.6		3.6