Exhibit 12.2

Virginia Electric and Power Company

Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

(millions of dollars)

			Years Ended
	Nine Months  Ended September 30, 2006	Twelve Months  Ended September 30, 2006	2005	2004	2003	2002	2001
Earnings, as defined:
Earnings before income taxes and minority interests in consolidated subsidiaries	$616	$ 707	$ 754	$ 929	$ 875	$1,248	$700
Fixed charges included in the determination of net income	232	337	333	258	309	301	309
Total earnings, as defined	$848	$1,044	$1,087	$1,187	$1,184	$1,549	$1,009
Fixed charges, as defined:
Interest charges	$231	$335	$329	$256	$318	$308	$319
Preference security dividend requirements of consolidated subsidiaries	19	24	25	25	25	25	38
Rental interest factor	8	11	10	9	10	10	10
Total fixed charges, as defined	$258	$370	$364	$290	$353	$343	$367
Ratio of Earnings to Fixed Charges and Preferred Dividends	3.29	2.82	2.99	4.09	3.35	4.52	2.75