Exhibit 12.01

XCEL ENERGY INC.
STATEMENT OF COMPUTATION OF
RATIO OF EARNINGS TO FIXED CHARGES

(Thousands of Dollars)

	March 31,			December 31,
	2007			2006		2005		2004		2003		2002
Earnings as defined:
Pretax income from continuing operations	$		166,423	$	750,092	$	672,577	$	684,199	$	693,516	$	793,701
Add:
Fixed charges	161,940			622,554		593,707		579,447		586,392		547,357
Deduct:
Undistributed equity in earnings (loss) of unconsolidated affiliates	695			2,775		712		3,342		4,833		(2,644		)
Earnings as defined	327,668			1,369,871		1,265,572		1,260,304		1,275,075		1,343,702
Fixed Charges:
Interest charges within rental expense	161,940			622,554		593,707		579,447		563,661		509,013
Preference security dividend requirements of consolidated subsidiaries				—		—		—		22,731		38,344
Total fixed charges	$	161,940		622,554		593,707		579,447		586,392		547,357
Ratio of earnings to fixed charges	2.0			2.2		2.1		2.2		2.2		2.5