Con Edison Company of New York, Inc.

Exhibit 12.2

Ratio of Earnings to Fixed Charges

(Millions of Dollars)

	For the Nine Months Ended September 30, 2004		For the Twelve Months Ended December 31, 2003		For the Nine Months Ended September 30, 2003
Earnings
Net Income for Common Stock	$	474	$	591	$	457
Preferred Stock Dividend		8		11		8
Cumulative Effect of Changes in Accounting Principles		—		—		—
(Income) or Loss from Equity Investees		—		—		—
Minority Interest Loss		—		—		—
Income Tax		285		367		294
Pre-Tax Income from Continuing Operations	$	767	$	969	$	759
Add: Fixed Charges*		289		409		298
Add: Amortization of Capitalized Interest		—		—		—
Add: Distributed Income of Equity Investees		—		—		—
Subtract: Interest Capitalized		—		—		—
Subtract: Preferred Stock Dividend Requirement		—		—		—
Earnings	$	1,056	$	1,378	$	1,057
* Fixed Charges
Interest on Long-term Debt	$	239	$	333	$	251
Amortization of Debt Discount, Premium and Expense		11		13		10
Interest Capitalized		—		—		—
Other Interest		23		42		23
Interest Component of Rentals		16		21		14
Preferred Stock Dividend Requirement		—		—		—
Fixed Charges	$	289	$	409	$	298
Ratio of Earnings to Fixed Charges		3.7		3.4		3.5