Exhibit 12.1

Boston Edison CompanyComputation of Ratio of Earnings to Fixed ChargesTwelve Months Ended December 31, 2003(in thousands)
| Net income from continuing operations                 |      | $ | 130,918 |
|-------------------------------------------------------|--------------------------|---|---------|
| Income taxes                                          |      |   | 90,972  |
| Fixed charges (including securitization certificates) |      |   | 112,694 |
|                                                       |                          |   |         |
|     Total                         |      | $ | 334,584 |
|                                                       |                          |   |         |
|                                                       |                          |   |         |
|                                                       |                          |   |         |
|                                                       |      |   |         |
| Interest expense                                      |      | $ | 93,174  |
| Interest component of rentals                         |      |   | 19,520  |
|                                                       |                          |   |         |
|     Total                         |      | $ | 112,694 |
|                                                       |                          |   |         |
|                                                       |                          |   |         |
|                                                       |                          |   |         |
|                                                       |      |   |         |
| Ratio of earnings to fixed charges                    |      |   | 2.97    |
|                                                       |                          |   |         |
|                                                       |                          |   |         |
|                                                       |                          |   |         |
|                                                       |                          |   |         |

Exhibit 12.2

Boston Edison CompanyComputation of Ratio of Earnings to Fixed Chargesand Preferred Stock Dividend RequirementsTwelve Months Ended December 31, 2003(in thousands)
| Net income from continuing operations                 |                      | $ | 130,918 |
|-------------------------------------------------------|--------------------------------|---|---------|
| Income taxes                                          |                 |   | 90,972  |
| Fixed charges (including securitization certificates) |            |   | 112,694 |
|                                                       |                                |   |         |
|     Total                         |            | $ | 334,584 |
|                                                       |                                |   |         |
|                                                       |                                |   |         |
|                                                       |                                |   |         |
|                                                       |            |   |         |
| Interest expense                                      |            | $ | 93,174  |
| Interest component of rentals                         |            |   | 19,520  |
|                                                       |                                |   |         |
|     Subtotal                      |            |   | 112,694 |
| Preferred stock dividend requirements                 |            |   | 3,322   |
|                                                       |                                |   |         |
|     Total                         |            | $ | 116,016 |
|                                                       |                                |   |         |
|                                                       |                                |   |         |
|                                                       |                                |   |         |
|                                                       |            |   |         |
| Ratio of earnings to fixed charges                    |       |   | 2.88    |
|                                                       |                                |   |         |
|                                                       |                                |   |         |
|                                                       |                                |   |         |
|                                                       |                                |   |         |