Con Edison Company of New York, Inc.



Exhibit 12.2



Ratio of Earnings to Fixed Charges

(Millions of Dollars)



|                                                      |  |                                            |       |                                              |   |                                            |  |   |      
|----------------------------------------------------- |  | ------------------------------------------ | ----- | -------------------------------------------- | - | ------------------------------------------ |  | - | -----
|                                                      |  | For the NineMonths EndedSeptember 30, 2004 |       | For the TwelveMonths Ended December 31, 2003 |   | For the NineMonths EndedSeptember 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  
|                                                      |  |                                            |       |                                              |   |                                            |  |   |