EX-12.1 2 vpex121.htm EXHIBIT 12.1

Exhibit 12.1

Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges

(millions of dollars)

Nine Months Ended September 30, 2005

Twelve Months Ended September 30, 2005




2004




2003




2002




2001




2000

Earnings, as defined:

Earnings before income taxes and minority interests in consolidated subsidiaries


$ (164)


$ (211)


$ 670


$ 919


$  1,198


$  733


$  837

Fixed charges included in the determination of net income


  241


  294


    266


   311


    304


    310


     303

Total earnings, as defined

$ 77

$ 83

$ 936

$ 1,230

$ 1,502

$ 1,043

$ 1,140

Fixed charges, as defined:

Interest charges

$ 236

$ 287

$ 262

$ 320

$ 311

$ 320

$ 297

Rental interest factor

9

12

11

10

10

10

     6

Total fixed charges, as defined

$ 245

$ 299

$ 273

$ 330

$ 321

$ 330

$ 303

Ratio of Earnings to Fixed Charges

N/A

N/A

3.43

3.73

4.68

3.16

3.76

Deficiency of Earnings to Cover Fixed Charges

$ (168)

$ (216)

N/A

N/A

N/A

N/A

N/A