EXHIBIT 12.1

PSEG POWER LLC
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                  |  | $                          | 1,414 |                     | $ | 1,263 |   | $    | 1,590 |      | $ | 878   |   | $    | 752  |   | $ | 594  |   | $ | 815  |  
|Fixed Charges                                              |  |                            | 157   |                     |   | 143   |   |      | 193   |      |   | 190   |   |      | 197  |   |   | 198  |   |   | 219  |  
|Capitalized Interest                                       |  |                            | (22   | )                   |   | (21   | ) |      | (23   | )    |   | (30   | ) |      | (89  | ) |   | (107 | ) |   | (106 | )
|Preferred Stock Dividend Requirements                      |  |                            |      |                     |   |      |   |      |      |      |   |      |   |      |     |   |   |     |   |   |     |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|Total Earnings                                             |  | $                          | 1,549 |                     | $ | 1,385 |   | $    | 1,760 |      | $ | 1,038 |   | $    | 860  |   | $ | 685  |   | $ | 928  |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|Fixed Charges as Defined in Regulation S-K
(B)             |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|Interest Expense                                           |  | $                          | 156   |                     | $ | 142   |   | $    | 192   |      | $ | 189   |   | $    | 195  |   | $ | 197  |   | $ | 217  |  
|Preferred Securities Dividend Requirements of
Subsidiaries |  |                            |      |                     |   |      |   |      |      |      |   |      |   |      |     |   |   |     |   |   |     |  
|Interest Factor in Rentals                                 |  |                            | 1     |                     |   | 1     |   |      | 1     |      |   | 1     |   |      | 2    |   |   | 1    |   |   | 2    |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|Total Fixed Charges                                        |  | $                          | 157   |                     | $ | 143   |   | $    | 193   |      | $ | 190   |   | $    | 197  |   | $ | 198  |   | $ | 219  |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  
|Ratio of Earnings to Fixed Charges                         |  |                            | 9.87  |                     |   | 9.69  |   |      | 9.12  |      |   | 5.46  |   |      | 4.37 |   |   | 3.46 |   |   | 4.24 |  
|                                                           |  |                            |       |                     |   |       |   |      |       |      |   |       |   |      |      |   |   |      |   |   |      |  

|    |                                                                                                                                                                                                                      
|--- | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|(A) | The term earnings shall
 be defined as pre-tax Income from Continuing Operations. 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 and (c) an estimate
 of interest implicit in rentals.                                

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