**EXHIBIT 12**

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**NUI CORPORATION AND SUBSIDIARIESCONSOLIDATED RATIO OF EARNINGS TO FIXED CHARGES(Dollars in thousands)**

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**                                Year EndedSeptember 30,                **
|                                                               | **2003**                 | **   2002**         | **   2001**         | **   2000**                       | **   1999**         |
|---------------------------------------------------------------|--------------------------|--------------------------|--------------------------|----------------------------------------|--------------------------|
| Income  (loss) from continuing operations before income taxes | $(10,285)                | $27,283                  | $45,576                  |       $32,984 | $39,581                  |
|                                                          |                     |                     |                     |                                   |                     |
| Add:                                                          |                     |                     |                     |                                   |                     |
| Interest element of  rentals                                  |                     |                     |                     |                                   |                     |
| charged to income  (a)                                        | 3,362                    | 3,752                    | 3,239                    | 2,345                                  | 3,144                    |
| Interest expense                                              |   27,494            |   28,041            |   29,469            |   21,708                          |   21,836            |
| Earnings as defined                                           | $20,571                  | $59,076                  | $78,284                  | $57,037                                | $64,561                  |
|                                                          |                     |                     |                     |                                   |                     |
| Interest expense                                              | $27,494                  | $28,041                  | $29,469                  | $21,708                                | $21,836                  |
| Capitalized interest                                          | 213                      | 173                      | 1,548                    | 754                                    | 83                       |
| Interest element of rentals charged                           |                     |                     |                     |                                   |                     |
| to income (a)                                                 |     3,362 |     3,752 |     3,239 |     2,345               |     3,144 |
| Fixed charges as  defined                                     | $31,069                  | $31,966                  | $34,256                  | $24,807                                | $25,063                  |
|                                                          |                     |                     |                     |                                   |                     |
| Consolidated ratio of earnings to  fixed charges              | 0.66(b)                  | 1.85                     | 2.29                     | 2.30                                   | 2.58                     |
|                                                          |                     |                     |                     |                                   |                     |

(a)     Includesthe interest element of rentals where determinable plus 1/3 of rental expensewhere no readily defined interest element can be determined.

(b)           For the fiscal year ended September30, 2003, the company's pre-tax earnings were inadequate to cover its fixedcharges for the year.  The amount ofsuch earnings deficiency for the year was $10.5 million pre-tax.