Exhibit 12.2

Con Edison Company of New York, Inc.RATIO TO EARNINGS TO FIXED CHARGES(MILLIONS OF DOLLARS)

|                                                      |  | For the Six
Months Ended
June 30, 2003 |     | For the Twelve
Months Ended
June 30, 2003 |   | For the Twelve Months Ended December 31,
|----------------------------------------------------- |  | -------------------------------------- | --- | ----------------------------------------- | - | ----------------------------------------
|
|
|Earnings                                              |  |                                        |     |                                           |   |                                         
|Net Income for Common Stock                           |  | $                                      | 203 |                                           | $ | 561                                     
|Preferred Stock Dividend                              |  |                                        | 6   |                                           |   | 11                                      
|Cumulative Effect of Changes in Accounting Principles |  |                                        |    |                                           |   |                                        
|(Income) or Loss from Equity Investees                |  |                                        |    |                                           |   | 1                                       
|Minority Interest Loss                                |  |                                        |    |                                           |   |                                        
|Income Tax                                            |  |                                        | 126 |                                           |   | 331                                     
|                                                     
|Pre-Tax Income from Continuing Operations             |  | $                                      | 335 |                                           | $ | 904                                     
|Add: Fixed Charges*                                   |  |                                        | 198 |                                           |   | 418                                     
|Add: Amortization of Capitalized Interest             |  |                                        |    |                                           |   |                                        
|Add: Distributed Income of Equity Investees           |  |                                        |    |                                           |   |                                        
|Subtract: Interest Capitalized                        |  |                                        |    |                                           |   |                                        
|Subtract: Preferred Stock Dividend Requirement        |  |                                        |    |                                           |   |                                        
|                                                     
|Earnings                                              |  | $                                      | 533 |                                           | $ | 1,322                                   
|                                                     
|*Fixed Charges                                        |  |                                        |     |                                           |   |                                         
|Interest on Long-term Debt                            |  | $                                      | 169 |                                           | $ | 339                                     
|Amortization of Debt Discount, Premium and Expense    |  |                                        | 6   |                                           |   | 12                                      
|Interest Capitalized                                  |  |                                        |    |                                           |   |                                        
|Other Interest                                        |  |                                        | 14  |                                           |   | 50                                      
|Interest Component of Rentals                         |  |                                        | 9   |                                           |   | 17                                      
|Preferred Stock Dividend Requirement                  |  |                                        |    |                                           |   |                                        
|                                                     
|Fixed Charges                                         |  | $                                      | 198 |                                           | $ | 418                                     
|                                                     
|Ratio of Earnings to Fixed Charges                    |  |                                        | 2.7 |                                           |   | 3.2                                     
|                                                     

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