CONSOLIDATED EDISON COMPANY OF NEW YORK, INC. RATIO OF EARNINGS TO FIXED CHARGES TWELVE MONTHS ENDED (Thousands of Dollars) JUNE JUNE 1994 1993 Earnings Net Income $ 718,653 $ 626,460 Federal Income Tax 385,880 211,190 Federal Income Tax Deferred 26,310 144,630 Investment Tax Credits Deferred (10,760) (13,200) Total Earnings Before Federal Income Tax 1,120,083 969,080 Fixed Charges* 322,107 315,173 Total Earnings Before Federal Income Tax and Fixed Charges $1,442,190 $1,284,253 *Fixed Charges Interest on Long-Term Debt $ 272,505 $ 270,127 Amortization of Debt Discount, Premium and Expenses 11,053 5,831 Interest Component of Rentals 18,442 18,736 Other Interest 20,107 20,479 Total Fixed Charges $ 322,107 $ 315,173 Ratio of Earnings to Fixed Charges 4.48 4.07