**Exhibit 12(a)**

**CONSTELLATIONENERGY GROUP, INC. AND SUBSIDIARIES**

**COMPUTATION OFRATIO OF EARNINGS TO FIXED CHARGES**
| ** **                                                                                                                 | ** ** | **12 Months Ended** | ** **  |
|----------------------------------------------------------------------------------------------------------------------------|------------|-------------------------------|-------------|
| ** **                                                                                                                 | ** ** | **December  2006**            | ** **  | **December  2005** | ** ** | **December  2004** | ** ** | **December  2003** | ** ** | **December  2002** | ** ** |
| ** **                                                                                                                 | ** ** | **(In millions)**        | ** **  |
| Income from Continuing  Operations (Before Extraordinary Loss and Cumulative Effects of Changes in  Accounting Principles) | ** ** | **$**                         | **748.6**   |   | $ | 535.9 |   | $ | 498.4 |   | $ | 409.4 |   | $ | 515.4 |   |
| Taxes on Income,  Including Tax Effect for BGE Preference Stock Dividends                                                  | ** ** | **343.1**                     |        | 155.4 |   | 110.2 |   | 213.7 |   | 292.6 |   |
| Adjusted Income                                                                                                            | ** ** | **$**                         | **1,091.7** |   | $ | 691.3 |   | $ | 608.6 |   | $ | 623.1 |   | $ | 808.0 |   |
| Fixed Charges:                                                                                                             |       |                          |        |   |   |   |   |   |   |   |   |
| Interest and  Amortization of Debt Discount and Expense and Premium on all Indebtedness                                    | ** ** | **$**                         | **315.9**   |   | $ | 297.6 |   | $ | 315.9 |   | $ | 325.6 |   | $ | 265.9 |   |
| Earnings  Required for BGE Preference Stock Dividends                                                                      | ** ** | **21.1**                      |        | 21.6 |   | 21.4 |   | 21.7 |   | 21.8 |   |
| Capitalized  Interest                                                                                                      | ** ** | **13.7**                      |        | 9.9 |   | 9.7 |   | 11.7 |   | 42.5 |   |
| Interest Factor  in Rentals                                                                                                | ** ** | **4.5**                       |        | 6.1 |   | 4.1 |   | 3.5 |   | 2.1 |   |
| Total Fixed  Charges                                                                                                       | ** ** | **$**                         | **355.2**   |   | $ | 335.2 |   | $ | 351.1 |   | $ | 362.5 |   | $ | 332.3 |   |
| Amortization of  Capitalized Interest                                                                                      | ** ** | **$**                         | **4.3**     |   | $ | 3.7 |   | $ | 2.8 |   | $ | 2.4 |   | $ | 1.3 |   |
| Earnings (1)                                                                                                               | ** ** | **$**                         | **1,437.5** |   | $ | 1,020.3 |   | $ | 952.8 |   | $ | 976.3 |   | $ | 1,099.1 |   |
| Ratio of Earnings to Fixed Charges                                                                                         | ** ** | **4.05**                      |        | 3.04 |   | 2.71 |   | 2.69 |   | 3.31 |   |

 

*Certain prior-year amounts have beenreclassified to conform with the current year’s presentation.*

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(1)   Earnings are deemed to consist of income fromcontinuing operations (before extraordinary items, cumulative effects ofchanges in accounting principles, and income (loss) from discontinuedoperations) that includes earnings of Constellation Energy’s consolidatedsubsidiaries, equity in the net income of unconsolidated subsidiaries, incometaxes (including deferred income taxes, investment tax credit adjustments, andthe tax effect of BGE’s preference stock dividends), and fixed charges(including the amortization of capitalized interest but excluding thecapitalization of interest).

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