EXHIBIT 12.4

PSEG ENERGY HOLDINGS L.L.C.COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

|                                           |  |               |      |                     |  |      |      |      |  |      |      |      |  |      |      |   |  |   |      |   |  |   |      |   |  |   |       |  
|------------------------------------------ |  | ------------- | ---- | ------------------- |  | ---- | ---- | ---- |  | ---- | ---- | ---- |  | ---- | ---- | - |  | - | ---- | - |  | - | ---- | - |  | - | ----- | -
|                                          
|                                           |  | For the Nine  |      |                     |  |      |      |      |  |      |      |      |  |     
|                                           |  | Months Ended  |      | For the Years Ended
|                                           |  | September 30, |      | December 31,       
|                                           |  | 2007          |      | 2006                |  | 2006 |      | 2005 |  | 2004 |      | 2003 |  | 2002
|Earnings as Defined in Regulation S-K (A): |  |               |      |                     |  |      |      |      |  |      |      |      |  |      |      |   |  |   |      |   |  |   |      |   |  |   |       |  
|                                          
|Pre-tax Income (Loss) from Continuing      |  |               |      |                     |  |      |      |      |  |      |      |      |  |      |      |   |  |   |      |   |  |   |      |   |  |   |       |  
|Operations                                 |  | $             | 128  |                     |  | $    | 15   |      |  | $    | (11  | )    |  | $    | 251  |   |  | $ | 185  |   |  | $ | 227  |   |  | $ | (389  | )
|(Income)/Loss from Equity Investees, Net   |  |               |      |                     |  |      |      |      |  |      |      |      |  |      |      |   |  |   |      |   |  |   |      |   |  |   |       |  
|of Distributions                           |  |               | (16  | )                   |  |      | (55  | )    |  |      | (37  | )    |  |      | (27  | ) |  |   | 78   |   |  |   | 59   |   |  |   | (3    | )
|Fixed Charges                              |  |               | 125  |                     |  |      | 147  |      |  |      | 199  |      |  |      | 208  |   |  |   | 216  |   |  |   | 210  |   |  |   | 215   |  
|Capitalized Interest                       |  |               | (1   | )                   |  |      | (1   | )    |  |      | (1   | )    |  |      | (1   | ) |  |   | (2   | ) |  |   | (11  | ) |  |   | (13   | )
|Total Earnings                             |  | $             | 236  |                     |  | $    | 106  |      |  | $    | 150  |      |  | $    | 431  |   |  | $ | 477  |   |  | $ | 485  |   |  | $ | (190  | )
|                                          
|Fixed Charges as Defined in Regulation S-  |  |               |      |                     |  |      |      |      |  |      |      |      |  |      |      |   |  |   |      |   |  |   |      |   |  |   |       |  
|K (B)                                      |  |               |      |                     |  |      |      |      |  |      |      |      |  |      |      |   |  |   |      |   |  |   |      |   |  |   |       |  
|                                          
|Interest Expense                           |  | $             | 124  |                     |  | $    | 146  |      |  | $    | 197  |      |  | $    | 206  |   |  | $ | 215  |   |  | $ | 209  |   |  | $ | 213   |  
|Interest Factor in Rentals                 |  |               | 1    |                     |  |      | 1    |      |  |      | 2    |      |  |      | 2    |   |  |   | 1    |   |  |   | 1    |   |  |   | 2     |  
|Total Fixed Charges                        |  | $             | 125  |                     |  | $    | 147  |      |  | $    | 199  |      |  | $    | 208  |   |  | $ | 216  |   |  | $ | 210  |   |  | $ | 215   |  
|                                          
|Ratio of Earnings to Fixed Charges (C)     |  |               | 1.89 |                     |  |      | 0.72 |      |  |      | 0.75 |      |  |      | 2.07 |   |  |   | 2.21 |   |  |   | 2.31 |   |  |   | (0.88 | )

|(A) | The term earnings is defined as pre-tax
income from continuing operations before income or loss from equity investees
plus distributed income from equity investees. Add to pre-tax income the amount
of fixed charges adjusted to exclude the amount of any interest capitalized during
the period.                                                                            
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|(B) | Fixed Charges represent (a) interest, whether expensed or capitalized, (b) amortization of debt discount, premium and expense (c) an estimate of interest implicit in rentals.                                                                                                                                                                                                    
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|(C) | The ratio of earnings to fixed charges for the nine months ended September 30, 2006 was 0.72, as noted above, which represents a deficiency of $41 million. The ratios of earnings to fixed charges for the years ended
December 31, 2006 and 2002 were 0.75 and (0.88), respectively, as noted above, which represent deficiencies of $49 million and $405 million, respectively.
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