Exelon (EXC) S-3ASR Automatic shelf registration

Exhibit 12.6

PECO Energy Company

Computation of Earnings to Fixed Charges

	Years Ended December 31,															Quarter Ended March 31, 2012
	2007			2008			2009			2010			2011
Pre-tax income from continuing operations		737			475			499			476			535			148
Plus: Loss from equity investees		7			16			24			0			0			0
Less: Capitalized Interest		(3	)		(3	)		(2	)		(4	)		(4	)		(1	)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees and capitalized interest		741			488			521			472			531			147
Fixed charges:
Interest expense and amortization of debt discount and premium on all indebtedness (a)		251			229			185			193			135			31
Interest component of rental expense(b)		6			9			9			10			9			3
		257			238			194			203			144			34
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		998			726			715			675			675			181
Ratio of earnings to fixed charges		3.9			3.1			3.7			3.3			4.7			5.3

(a) Includes interest expense of $0 for the quarter ended March 31, 2012 and $0, $35 million, $0, $0 and $0 million for the years ended December 31, 2011, 2010, 2009, 2008 and 2007, respectively, related to uncertain income tax positions.

(b) 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 Combined Fixed Charges and Preferred Stock Dividends

																Quarter
																Ended
	Years Ended December 31,															March 31,
	2007			2008			2009			2010			2011			2012
Pre-tax income from continuing operations		737			475			499			476			535			148
Plus: Loss from equity investees		7			16			24			—			—			—
Less: Capitalized interest		(3	)		(3	)		(2	)		(4	)		(4	)		(1	)
Preference security dividend requirements		(6	)		(6	)		(6	)		(6	)		(6	)		(2	)
Pre-tax income from continuing operations after adjustment for income or loss from equity investees, capitalized interest and preference security dividend requirements		735			482			515			466			525			145
Fixed charges:
Interest expensed and capitalized, amortization of debt discount and premium on all indebtedness (a)		251			229			185			193			135			31
Interest component of rental expense (b)		6			9			9			10			9			3
Preference security dividend requirements		6			6			6			6			6			2
Total fixed charges		263			244			200			209			150			36
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		998			726			715			675			675			181
Ratio of earnings to combined fixed charges and preferred stock dividends		3.8			3.0			3.6			3.2			4.5			5.1

(a) Includes interest expense of $0 for the quarter ended March 31, 2012 and $0, $35 million, $0, $0 and $0 million for the years ended December 31, 2011, 2010, 2009, 2008 and 2007, respectively, related to uncertain income tax positions.

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