EXHIBIT 12.4

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

|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|----------------------------------------------------------- |  | ------------------------------------- | ---- | ------------------------------------ | - | ----- | - | ---- | ---- | ---- | - | ---- | - | ---- | ---- | - | - | ---- | - | - | ----- | -
|                                                            |  | For the Six
  Months Ended
  June 30, |      | For the
  Years Ended
  December 31, |  
|                                                            |  |                                       |      |                                      |  
|                                                            |  | 2007                                  |      | 2006                                 |   | 2006  |   | 2005 |      | 2004 |   | 2003 |   | 2002 |     
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |     
|Earnings as Defined in Regulation
  S-K (A):                |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|Pre-tax (Loss) Income from
  Continuing Operations          |  | $                                     | 90   |                                      | $ | (135  | ) | $    | (11  | )    | $ | 251  |   | $    | 185  |   | $ | 227  |   | $ | (389  | )
|Loss/(Income) from Equity
  Investees, Net of Distributions |  |                                       | 25   |                                      |   | (31   | ) |      | (37  | )    |   | (27  | ) |      | 78   |   |   | 59   |   |   | (3    | )
|Fixed Charges                                               |  |                                       | 81   |                                      |   | 98    |   |      | 199  |      |   | 208  |   |      | 216  |   |   | 210  |   |   | 215   |  
|Capitalized Interest                                        |  |                                       |     |                                      |   |      |   |      | (1   | )    |   | (1   | ) |      | (2   | ) |   | (11  | ) |   | (13   | )
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|Total Earnings                                              |  | $                                     | 196  |                                      | $ | (68   | ) | $    | 150  |      | $ | 431  |   | $    | 477  |   | $ | 485  |   | $ | (190  | )
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|Fixed Charges as Defined
  in RegulationS-K (B)             |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|Interest Expense                                            |  | $                                     | 81   |                                      | $ | 97    |   | $    | 197  |      | $ | 206  |   | $    | 215  |   | $ | 209  |   | $ | 213   |  
|Interest Factor in Rentals                                  |  |                                       |     |                                      |   | 1     |   |      | 2    |      |   | 2    |   |      | 1    |   |   | 1    |   |   | 2     |  
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|Total Fixed Charges                                         |  | $                                     | 81   |                                      | $ | 98    |   | $    | 199  |      | $ | 208  |   | $    | 216  |   | $ | 210  |   | $ | 215   |  
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|                                                            |  |                                       |      |                                      |   |       |   |      |      |      |   |      |   |      |      |   |   |      |   |   |       |  
|Ratio of Earnings to Fixed
  Charges (C)                    |  |                                       | 2.42 |                                      |   | (0.69 | ) |      | 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.         
|    |                                                                                                                                                                                                                                                                                                                        
|(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.                                                                                                                                   
|    |                                                                                                                                                                                                                                                                                                                        
|(C) | The ratio of earnings to
  fixed charges for the six months ended June 30, 2006 was (0.69), as noted
  above, which represents a deficiency of $166 million. The ratio of earnings
  to fixed charges for the year ended December 31, 2002 was (0.88), as noted
  above, which represents a deficiency of $405 million.

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