EXHIBIT NO. 12(b)

BALTIMORE GAS AND ELECTRIC COMPANY AND SUBSIDIARIES        COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND  COMPUTATION OF RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND  PREFERRED AND PREFERENCE
DIVIDEND REQUIREMENTS

|                                                                                               |                                                                                        | 12 Months Ended
|---------------------------------------------------------------------------------------------- | -------------------------------------------------------------------------------------- | ---------------
|
|
|Income from Continuing Operations (Before Extraordinary Loss)                                  |                                                                                        | $              
|Taxes on Income                                                                                |                                                                                        |                
|                                                                                               |                                                                                        |                
|Adjusted Income                                                                                |                                                                                        | $              
|                                                                                               |                                                                                        |                
|Fixed Charges:                                                                                 |                                                                                        |                
|                                                                                               | Interest and Amortization of Debt Discount and Expense and Premium on all Indebtedness |                
|                                                                                               | Capitalized Interest                                                                   |                
|                                                                                               | Interest Factor in Rentals                                                             |                
|                                                                                               |                                                                                        |                
|                                                                                               | Total Fixed Charges                                                                    |                
|                                                                                               |                                                                                        |                
|Preferred and Preference Dividend Requirements:(1)                                             |                                                                                        |                
|                                                                                               | Preferred and Preference Dividends                                                     |                
|                                                                                               | Income Tax Required                                                                    |                
|                                                                                               |                                                                                        |                
|                                                                                               | Total Preferred and Preference Dividend Requirements                                   |                
|                                                                                               |                                                                                        |                
|Total Fixed Charges and Preferred and Preference Dividend Requirements                         |                                                                                        | $              
|                                                                                               |                                                                                        |                
|Earnings(2)                                                                                    |                                                                                        | $              
|                                                                                               |                                                                                        |                
|Ratio of Earnings to Fixed Charges                                                             |                                                                                        |                
|Ratio of Earnings to Combined Fixed Charges and Preferred and Preference Dividend Requirements |                                                                                        |                

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