Northeast Utilities and Subsidiaries

Exhibit 12

Ratio of Earnings to Fixed Charges

(Unaudited)

Nine Months  

Ended

September 30,

For the Years Ended December 31,

(Thousands of Dollars)

2014

2013

2012 (a)

2011

2010

2009 

Earnings, as defined:

   Net income

$ 

 603,576 

$ 

 793,689 

$ 

 533,077 

$ 

 400,513 

$ 

394,107 

$ 

 335,592 

   Income tax expense

 345,858 

 426,941 

 274,926 

 170,953 

210,409 

 179,947 

   Equity in earnings of regional nuclear

     generating and transmission companies

 (72)

 (1,318)

 (1,154)

 (671)

(1,429)

 (1,762)

   Dividends received from regional equity investees

 - 

 582 

 733 

 940 

1,488 

 3,794 

   Fixed charges, as below

 290,886 

362,403 

353,616 

275,948 

 263,393 

 296,764 

   Less: Interest capitalized (including AFUDC)

 (4,151)

(4,062)

(5,261)

(11,758)

 (10,165)

 (5,929)

   Preferred dividend security requirements of

     consolidated subsidiaries

 (9,398)

(12,803)

(11,715)

(9,265)

 (10,170)

 (9,265)

 Total earnings, as defined

$ 

 1,226,699 

$ 

 1,565,432 

$ 

 1,144,222 

$ 

826,660 

$ 

 847,633 

$ 

 799,141 

Fixed charges, as defined:

   Interest on long-term debt (b)

$ 

 260,076 

$ 

 340,970 

$ 

 316,987 

$ 

 231,630 

$ 

231,089 

$ 

 224,712 

   Interest on rate reduction bonds

 - 

 422 

 6,168 

 8,611 

20,573 

 36,524 

   Other interest (c)

 12,132 

 (2,693)

 6,790 

 10,184 

(14,371)

 12,401 

   Rental interest factor

 5,129 

 6,839 

 6,695 

 4,500 

5,767 

 7,933 

 Preferred dividend security requirements of

  consolidated subsidiaries

 9,398 

 12,803 

 11,715 

 9,265 

10,170 

 9,265 

   Interest capitalized (including AFUDC)

 4,151 

 4,062 

 5,261 

 11,758 

10,165 

 5,929 

 Total fixed charges, as defined

$ 

 290,886 

$ 

 362,403 

$ 

 353,616 

$ 

275,948 

$ 

 263,393 

$ 

 296,764 

Ratio of Earnings to Fixed Charges

 4.22 

 4.32 

 3.24 

 3.00 

 3.22 

 2.69 

(a) NSTAR amounts were included in NU beginning April 10, 2012.

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

(c) For all periods presented, other interest includes interest related to accounting for uncertain tax positions.