Exhibit 12.4

PECO Energy Company

Ratio of Earnings to Fixed Charges

	Years Ended December 31,
	2011			2012			2013			2014			2015
Pre-tax income from continuing operations		535			508			557			466			521
Plus: Loss from equity investees		—			—			—			—			—
Less: Capitalized interest		(4	)		(2	)		(2	)		(2	)		(2	)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest		531			506			555			464			519
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness		135			122			114			112			114
Interest component of rental expense (a)		9			9			7			5			3
Total fixed charges		144			131			121			117			117
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges		675			637			676			581			636
Ratio of earnings to combined fixed charges		4.7			4.9			5.6			5.0			5.4

(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.

PECO Energy Company

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

	Years Ended December 31,
	2011			2012			2013			2014			2015
Pre-tax income from continuing operations		535			508			557			466			521
Plus: Loss from equity investees		—			—			—			—			—
Less: Capitalized interest		(4	)		(2	)		(2	)		(2	)		(2	)
Preference security dividend requirements		(6	)		(5	)		(10	)		—			—
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements		525			501			545			464			519
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness		135			122			114			112			114
Interest component of rental expense (a)		9			9			7			5			3
Preference security dividend requirements		6			5			10			—			—
Total fixed charges		150			136			131			117			117
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements plus fixed charges		675			637			676			581			636
Ratio of earnings to fixed charges and preferred stock dividends		4.5			4.7			5.2			5.0			5.4

(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.