Exhibit 12.4

PECO Energy Company
Ratio of Earnings to Fixed Charges
	Years Ended December 31,
(In millions, except ratios)	2013		2014		2015		2016		2017
Pre-tax income from continuing operations	557		466		521		587		538
Less: Capitalized interest	(2	)	(2	)	(2	)	(3	)	(3	)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest	555		464		519		584		535
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness	114		112		114		125		128
Interest component of rental expense(a)	7		5		3		2		3
Total fixed charges	121		117		117		127		131
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest plus fixed charges	676		581		636		711		666
Ratio of earnings to combined fixed charges	5.6		5.0		5.4		5.6		5.1

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(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,
(In millions, except ratios)	2013		2014		2015		2016		2017
Pre-tax income from continuing operations	557		466		521		587		538
Less: Capitalized interest	(2	)	(2	)	(2	)	(3	)	(3	)
Preference security dividend requirements	(10	)	—		—		—		—
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements	545		464		519		584		535
Fixed Charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness	114		112		114		125		128
Interest component of rental expense(a)	7		5		3		2		3
Preference security dividend requirements	10		—		—		—		—
Total fixed charges	131		117		117		127		131
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	676		581		636		711		666
Ratio of earnings to fixed charges and preferred stock dividends	5.2		5.0		5.4		5.6		5.1

__________

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