Exhibit 12.2

CECONY

Ratio of Earnings to Fixed Charges

	For the Years Ended December 31,
(millions of dollars)	2010		2009			2008		2007			2006
Earnings
Net income for common stock	$	893	$	781		$	783	$	844		$	686
Preferred stock dividend		11		11			11		11			11
(Income) or loss from equity investees		2		(1	)		—		(2	)		—
Minority interest loss		—		—			—		—			—
Income tax		495		404			397		392			349
Pre-tax income for common stock	$	1,401	$	1,195		$	1,191	$	1,245		$	1,046
Add: Fixed charges*		578		582			520		487			472
Add: Distributed income of equity investees		—		—			—		—			—
Subtract: Interest capitalized		—		—			—		—			—
Subtract: Pre-tax preferred stock dividend requirement		—		—			—		—			—
Earnings	$	1,979	$	1,777		$	1,711	$	1,732		$	1,518
* Fixed charges
Interest on long-term debt	$	520	$	518		$	458	$	411		$	370
Amortization of debt discount, premium and expense		17		16			16		17			16
Interest capitalized		—		—			—		—			—
Other interest		19		27			25		39			65
Interest component of rentals		22		21			21		20			21
Pre-tax preferred stock dividend requirement		—		—			—		—			—
Fixed charges	$	578	$	582		$	520	$	487		$	472
Ratio of Earnings to Fixed Charges		3.4		3.1			3.3		3.6			3.2