Exhibit 12.2

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

(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
		Preference security dividend requirements of consolidated subsidiaries	19	25	25	25	25	38	54
		Rental interest factor	9	12	11	10	10	10	6
		Total fixed charges, as defined	$ 264	$ 324	$ 298	$ 355	$ 346	$ 368	$ 357
Ratio of Earnings to Fixed Charges and Preferred Dividends			0.29	0.26	3.14	3.47	4.34	2.83	3.19