Exhibit 12.2



Con Edison Company of New York, Inc.

Ratio of Earnings
to Fixed Charges

(Millions of Dollars)



|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|----------------------------------------------------- |  | ---------------------------------------- | ----- | ---- | - | ----- |  | ---- | ----- | ---- | - | ----- |  | - | -----
|                                                      |  | For the Twelve Months Ended December 31,
|                                                      |  | 2004                                     |       | 2003 |   | 2002  |  | 2001 |       | 2000
|Earnings                                              |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|Net Income                                            |  |                                          | 518   |      | $ | 591   |  | $    | 605   |      | $ | 649   |  | $ | 570  
|Preferred Stock Dividend                              |  |                                          | 11    |      |   | 11    |  |      | 13    |      |   | 14    |  |   | 14   
|Cumulative Effect of Changes in Accounting Principles |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|(Income) or Loss from Equity Investees                |  |                                          | -     |      |   | -     |  |      | 1     |      |   | -     |  |   | -    
|Minority Interest Loss                                |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|Income Tax                                            |  |                                          | 278   |      |   | 367   |  |      | 342   |      |   | 427   |  |   | 290  
|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|Pre-Tax Income from Continuing Operations             |  | $                                        | 807   |      | $ | 969   |  | $    | 961   |      | $ | 1,090 |  | $ | 874  
|                                                      |  |                                          |       |      |  
|Add: Fixed Charges*                                   |  |                                          | 387   |      |   | 409   |  |      | 408   |      |   | 410   |  |   | 392  
|Add: Amortization of Capitalized Interest             |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|Add: Distributed Income of Equity Investees           |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|Subtract: Interest Capitalized                        |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|Subtract: Preferred Stock Dividend Requirement        |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|Earnings                                              |  | $                                        | 1,194 |      | $ | 1,378 |  | $    | 1,369 |      | $ | 1,500 |  | $ | 1,266
|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|* Fixed Charges                                       |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|Interest on Long-term Debt                            |  | $                                        | 317   |      | $ | 333   |  | $    | 333   |      | $ | 347   |  | $ | 319  
|Amortization of Debt Discount, Premium and Expense    |  |                                          | 15    |      |   | 13    |  |      | 12    |      |   | 13    |  |   | 13   
|Interest Capitalized                                  |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|Other Interest                                        |  |                                          | 34    |      |   | 42    |  |      | 51    |      |   | 32    |  |   | 43   
|Interest Component of Rentals                         |  |                                          | 21    |      |   | 21    |  |      | 12    |      |   | 18    |  |   | 17   
|Preferred Stock Dividend Requirement                  |  |                                          | -     |      |   | -     |  |      | -     |      |   | -     |  |   | -    
|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|Fixed Charges                                         |  | $                                        | 387   |      | $ | 409   |  | $    | 408   |      | $ | 410   |  | $ | 392  
|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |      
|Ratio of Earnings to Fixed Charges                    |  |                                          | 3.1   |      |   | 3.4   |  |      | 3.4   |      |   | 3.7   |  |   | 3.2  
|                                                      |  |                                          |       |      |   |       |  |      |       |      |   |       |  |   |