EXHIBIT 12.2

                     PUBLIC SERVICE ELECTRIC AND GAS COMPANY
               COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES
                 PLUS PREFERRED SECURITIES DIVIDEND REQUIREMENTS

<TABLE>
<CAPTION>
                                                 FOR THE THREE MONTHS                       FOR THE YEARS ENDED
                                                    ENDED MARCH 31,                            DECEMBER 31,
                                                 ---------------------------------------------------------------------------------
                                                   2007         2006        2006        2005        2004        2003        2002
                                                 ---------------------------------------------------------------------------------
                                                                             (MILLIONS, EXCEPT RATIOS)
<S>                                              <C>          <C>         <C>         <C>         <C>         <C>         <C>
Earnings as Defined in Regulation S-K (A):

Pre-tax Income from Continuing Operations        $   231      $   143     $   448     $   583     $   592     $   376     $   320
Fixed Charges                                         83           87         353         349         369         397         415
Preferred Securities Pre Tax                          (2)          (2)         (7)         (7)         (7)         (7)         (7)
                                                 ---------------------------------------------------------------------------------
Earnings                                         $   312      $   228     $   794     $   925     $   954     $   766     $   728
                                                 =================================================================================

Fixed Charges as Defined in Regulation S-K (B)

Interest Expense                                 $    81      $    85     $   346     $   342     $   362     $   390     $   406
Interest Factor in Rentals                             -            -           -           -           -           -           2
Preferred Securities Dividends                         1            1           4           4           4           4           4
Adjustment to state Preferred Securities
   Dividends on a pre-income tax basis                 1            1           3           3           3           3           3
                                                 ---------------------------------------------------------------------------------
Total Fixed Charges                              $    83      $    87     $   353     $   349     $   369     $   397     $   415
                                                 =================================================================================

Ratio of Earnings to Fixed Charges                  3.76         2.62        2.25        2.65        2.59        1.93        1.76
                                                 =================================================================================
</TABLE>

(A)   The term "earnings" shall be defined as pretax income from continuing
      operations. Add to pretax income the amount of fixed charges adjusted to
      exclude (a) the amount of any interest capitalized during the period (b)
      the actual amount of any preferred securities dividend requirements of
      majority owned subsidiaries (c) preferred stock dividends which were
      included in such fixed charges amount but not deducted in the
      determination of pre-tax income.

(B)   Fixed Charges represent (a) interest, whether expensed or capitalized, (b)
      amortization of debt discount and premium expense (c) an estimate of
      interest implicit in rentals and (d) preferred securities dividend
      requirements of majority owned subsidiaries and preferred stock dividends,
      increased to reflect the pre-tax earnings requirement for PSE&G.