Exhibit 12.1

Virginia Electric and Power Company

Computation of Ratio of Earnings to Fixed Charges

(millions of dollars)

					Years Ended
			Three Months Ended March 31, 2006	Twelve Months Ended March 31, 2006	2005	2004	2003	2002	2001
Earnings, as defined:
	Earnings before income taxes and minority interests in consolidated subsidiaries		$ 152	$ 722	$ 754	$ 929	$ 875	$1,248	$700
	Fixed charges included in the determination of net income		81	340	333	258	309	301	309
		Total earnings, as defined	$ 233	$ 1,062	$ 1,087	$1,187	$ 1,184	$ 1,549	$ 1,009
	Fixed charges, as defined:
		Interest charges	$ 80	$ 336	$ 329	$ 256	$ 318	$ 308	$ 319
		Rental interest factor	3	10	10	9	10	10	10
		Total fixed charges, as defined	$ 83	$ 346	$ 339	$ 265	$ 328	$ 318	$ 329
Ratio of Earnings to Fixed Charges			2.81	3.07	3.21	4.48	3.61	4.87	3.07