Exhibit No. 12

PROGRESS ENERGY, INC.
Computation of Ratio of Earnings to Fixed Charges
For the Twelve Months Ended September 30

(dollars in millions)	2010			2009
Earnings, as defined:
Income from continuing operations	$	870		$	824
Fixed charges, as below		785			735
Preferred dividend requirements		(7	)		(7	)
Income from continuing operations attributable to noncontrolling interests, net of tax		(1	)		—
Income taxes, as below		496			413
Total earnings, as defined	$	2,143		$	1,965
Fixed Charges, as defined:
Interest on long-term debt	$	724		$	658
Other interest		45			62
Imputed interest factor in rentals — charged principally to operating expenses		9			8
Preferred dividend requirements of subsidiaries		7			7
Total fixed charges, as defined	$	785		$	735
Income Taxes:
Income tax expense	$	501		$	418
Included in AFUDC — deferred taxes in book depreciation		(5	)		(5	)
Total income taxes	$	496		$	413
Ratio of Earnings to Fixed Charges		2.73			2.67