Exhibit 12.1

Boston Edison Company

Computation of Ratio of Earnings to Fixed Charges

Twelve Months Ended December 31, 2004

(in thousands)

Net income from continuing operations	$	134,130
Income taxes		89,997
Fixed charges (including securitization certificates)		106,282
Total	$	330,409
Interest expense	$	83,838
Interest component of rentals		22,444
Total	$	106,282
Ratio of earnings to fixed charges		3.11