Exhibit 12.4

PECO Energy Company

Ratio of Earnings to Fixed Charges

	Years Ended December 31,
	2012			2013			2014			2015			2016
Pre-tax income from continuing operations		508			557			466			521			587
Less: Capitalized interest		(2	)		(2	)		(2	)		(2	)		(3	)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest		506			555			464			519			584
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness		122			114			112			114			125
Interest component of rental expense (a)		9			7			5			3			2
Total fixed charges		131			121			117			117			127
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges		637			676			581			636			711
Ratio of earnings to combined fixed charges		4.9			5.6			5.0			5.4			5.6

(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.

PECO Energy Company

Ratio of Earnings to Fixed Charges and Preferred Stock Dividends

	Years Ended December 31,
	2012			2013			2014			2015			2016
Pre-tax income from continuing operations		508			557			466			521			587
Less: Capitalized interest		(2	)		(2	)		(2	)		(2	)		(3	)
Preference security dividend requirements		(5	)		(10	)		—			—			—
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements		501			545			464			519			584
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness		122			114			112			114			125
Interest component of rental expense (a)		9			7			5			3			2
Preference security dividend requirements		5			10			—			—			—
Total fixed charges		136			131			117			117			127
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements plus fixed charges		637			676			581			636			711
Ratio of earnings to fixed charges and preferred stock dividends		4.7			5.2			5.0			5.4			5.6

(a) Represents one-third of rental expense relating to operating leases, which is a reasonable approximation of the interest factor.