Exhibit 12.2

PUBLIC SERVICE ELECTRIC AND GAS COMPANY
COMPUTATION OF RATIOS OF EARNINGS TO FIXED CHARGES

|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|---------------------------------------------- |  | --------------------------- | ---- | -------------------- | - | ---- |  | ---- | ---- | ---- | - | ---- |  | ---- | ---- |  | - | ---- |  | - | ---- | 
|                                               |  | For the
 Nine
 Months Ended |      | For the
 Years Ended |  
|                                               |  | September
 30,              |      | December
 31,        |  
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|                                               |  | 2008                        |      | 2007                 |   | 2007 |  | 2006 |      | 2005 |   | 2004 |  | 2003 |     
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|                                               |  | (Millions,
 except ratios)  |     
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Earnings as Defined in Regulation S-K
(A):     |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Pre-tax Income from Continuing
Operations      |  | $                           | 448  |                      | $ | 516  |  | $    | 637  |      | $ | 448  |  | $    | 583  |  | $ | 592  |  | $ | 376  | 
|Fixed Charges                                  |  |                             | 244  |                      |   | 250  |  |      | 332  |      |   | 346  |  |      | 342  |  |   | 362  |  |   | 390  | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Earnings                                       |  | $                           | 692  |                      | $ | 766  |  | $    | 969  |      | $ | 794  |  | $    | 925  |  | $ | 954  |  | $ | 766  | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Fixed Charges as Defined in Regulation S-K
(B) |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Interest Expense                               |  | $                           | 244  |                      | $ | 250  |  | $    | 332  |      | $ | 346  |  | $    | 342  |  | $ | 362  |  | $ | 390  | 
|Interest Factor in Rentals                     |  |                             |     |                      |   |     |  |      |     |      |   |     |  |      |     |  |   |     |  |   |     | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Total Fixed Charges                            |  | $                           | 244  |                      | $ | 250  |  | $    | 332  |      | $ | 346  |  | $    | 342  |  | $ | 362  |  | $ | 390  | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 
|Ratio of Earnings to Fixed Charges             |  |                             | 2.84 |                      |   | 3.06 |  |      | 2.92 |      |   | 2.29 |  |      | 2.70 |  |   | 2.64 |  |   | 1.96 | 
|                                               |  |                             |      |                      |   |      |  |      |      |      |   |      |  |      |      |  |   |      |  |   |      | 

|    |                                                                                                                                                                                                                    
|--- | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(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 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 and (c) an estimate of interest implicit in rentals.                               

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