Exhibit 12.2
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
| Years Ended December 31, | |||||||||||||||
| 2007 | 2006 | 2005 | 2004 | 2003 | |||||||||||
| Earnings, as defined: |
|||||||||||||||
| Earnings from continuing operations before income taxes and minority interests in consolidated subsidiaries |
$ | 977 | $ | 762 | $ | 754 | $ | 929 | $ | 875 | |||||
| Fixed charges included in the determination of net income |
328 | 313 | 333 | 258 | 309 | ||||||||||
| Total earnings, as defined |
$ | 1,305 | $ | 1,075 | $ | 1,087 | $ | 1,187 | $ | 1,184 | |||||
| Fixed charges, as defined: |
|||||||||||||||
| Interest charges |
$ | 320 | $ | 311 | $ | 329 | $ | 256 | $ | 318 | |||||
| Preference security dividend requirements of consolidated subsidiaries |
25 | 25 | 25 | 25 | 25 | ||||||||||
| Rental interest factor |
12 | 11 | 10 | 9 | 10 | ||||||||||
| Total fixed charges, as defined |
$ | 357 | $ | 347 | $ | 364 | $ | 290 | $ | 353 | |||||
| Ratio of Earnings to Fixed Charges and Preferred Dividends |
3.66 | 3.10 | 2.99 | 4.09 | 3.35 | ||||||||||