EXHIBIT 12.1 DETROIT EDISON SECURITIZATION FUNDING LLC COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES (THOUSANDS OF DOLLARS) <Table> <Caption> Twelve Months Ended December 31, 2001 ----------------- EARNINGS Pre-tax income............................ $ - Fixed charges............................. 86,928 -------- Earnings................................ $ 86,928 ======== FIXED CHARGES Interest expense.......................... $ 86,928 -------- Fixed charges........................... $ 86,928 ======== Ratio of Earnings to Fixed Charges........ 1.00 ==== </Table>