Exhibit 12.1

Consolidated Edison, Inc.

Ratio of Earnings to Fixed Charges

(Millions of Dollars)

	For the Nine Months Ended September 30, 2013			For the Twelve Months Ended December 31, 2012		For the Nine Months Ended September 30, 2012
Earnings
Net Income for Common Stock	$	828		$	1,138	$	931
Preferred Stock Dividend		—			3		3
(Income) or Loss from Equity Investees		(5	)		4		(4	)
Minority Interest Loss		—			—		—
Income Tax		373			600		501
Pre-Tax Income	$	1,196		$	1,745	$	1,431
Add: Fixed Charges*		597			638		484
Add: Distributed Income of Equity Investees		—			—		—
Subtract: Interest Capitalized		—			—		—
Subtract: Pre-Tax Preferred Stock Dividend Requirement		—			5		5
Earnings	$	1,793		$	2,378	$	1,910
* Fixed Charges
Interest on Long-term Debt	$	421		$	568	$	429
Amortization of Debt Discount, Premium and Expense		12			18		12
Interest Capitalized		—			—		—
Other Interest		143			20		17
Interest Component of Rentals		21			27		21
Pre-Tax Preferred Stock Dividend Requirement		—			5		5
Fixed Charges	$	597		$	638	$	484
Ratio of Earnings to Fixed Charges		3.0			3.7		3.9