Exhibit 12.2

Virginia Electric and Power Company

Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

(millions of dollars)

	Six Months Ended June 30, 2009			Twelve Months Ended June 30, 2009			Years Ended December 31,
							2008			2007			2006			2005			2004
Earnings, as defined:
Income from continuing operations before income taxes, extraordinary item and cumulative effect of change in accounting principle	$	559		$	1,254		$	1,364		$	977		$	762		$	754		$	929
Fixed charges as defined		205			387			369			357			347			364			290
Capitalized interest		—			—			—			(4	)		(9	)		(6	)		(7	)
Preference security dividend requirement		(13	)		(26	)		(26	)		(25	)		(25	)		(25	)		(25	)
Total earnings, as defined	$	751		$	1,615		$	1,707		$	1,305		$	1,075		$	1,087		$	1,187
Fixed charges, as defined:
Interest charges	$	185		$	347		$	330		$	320		$	311		$	329		$	256
Preference security dividend requirement		13			26			26			25			25			25			25
Rental interest factor		7			14			13			12			11			10			9
Total fixed charges, as defined	$	205		$	387		$	369		$	357		$	347		$	364		$	290
Ratio of Earnings to Fixed Charges and Preferred Dividends		3.66			4.17			4.63			3.66			3.10			2.99			4.09