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CONSOLIDATED EDISON, INC.

Ratio of Earnings to Fixed Charges
Twelve Months Ended
(Thousands of Dollars)

			March 2002		December 2001
Earnings
	Net Income for Common Stock		$	669,733	$	682,242
	Preferred Dividends			13,593		13,593
	Income Tax			426,481		442,631
		Total Earnings Before Federal Income Tax		1,109,807		1,138,466
Fixed Charges*				452,635		457,554
		Total Earnings Before Federal Income Tax and Fixed Charges	$	1,562,442	$	1,596,020
	* Fixed Charges
	Interest on Long-Term Debt		$	359,956	$	384,422
	Amortization of Debt Discount, Premium and Expense			12,634		12,526
	Interest on Component of Rentals			18,799		18,783
	Other Interest			61,246		41,823
		Total Fixed Charges	$	452,635	$	457,554
Ratio of Earnings to Fixed Charges				3.45		3.49

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CONSOLIDATED EDISON, INC. Ratio of Earnings to Fixed Charges Twelve Months Ended (Thousands of Dollars)