Public Service Company of New Hampshire and Subsidiary

Exhibit 12

Ratio of Earnings to Fixed Charges

(Unaudited)

Nine Months

Ended

September 30,

For the Years Ended December 31,

(Thousands of Dollars)

2015

2014

2013

2012

2011

2010

Earnings, as defined:

Net income

$

 92,491 

$

 113,944 

$

 111,397 

$

 96,882 

$

 100,267 

$

 90,067 

Income tax expense

 56,135 

 72,135 

 71,101 

 60,993 

 49,945 

 50,801 

Equity in earnings of regional nuclear
  generating companies

 (5)

 (8)

 (12)

 (8)

 (7)

 (23)

Dividends received from regional equity investees

 -   

 -   

 42 

 -   

 -   

 80 

Fixed charges, as below

 35,624 

 46,530 

 47,318 

 52,769 

 52,111 

 54,721 

Less: Interest capitalized (including AFUDC)

 (636)

 (640)

 (500)

 (1,579)

 (7,064)

 (6,621)

Total earnings, as defined

$

 183,609 

$

 231,961 

$

 229,346 

$

 209,057 

$

 195,252 

$

 189,025 

Fixed charges, as defined:

Interest Expense

$

 34,582 

$

 45,349 

$

 46,176 

$

 50,228 

$

 44,147 

$

 47,067 

Rental interest factor

 406 

 541 

 642 

 962 

 900 

 1,033 

Interest capitalized (including AFUDC)

 636 

 640 

 500 

 1,579 

 7,064 

 6,621 

Total fixed charges, as defined

$

 35,624 

$

 46,530 

$

 47,318 

$

 52,769 

$

 52,111 

$

 54,721 

Ratio of Earnings to Fixed Charges

 5.15 

 4.99 

 4.85 

 3.96 

 3.75 

 3.45