Exhibit No. 12 (a)

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

(dollars in millions)	2008			2007
Earnings, as defined:
Income from continuing operations before minority interest	$	758		$	713
Fixed charges, as below		674			619
Preferred dividend requirements		(4	)		(4	)
Minority interest		(5	)		(8	)
Income taxes, as below		385			300
Total earnings, as defined	$	1,808		$	1,620
Fixed Charges, as defined:
Interest on long-term debt	$	601		$	561
Other interest		55			43
Imputed interest factor in rentals – charged principally to operating expenses		13			10
Preferred dividend requirements of subsidiaries		5			5
Total fixed charges, as defined	$	674		$	619
Income Taxes:
Income tax expense	$	390		$	305
Included in AFUDC – deferred taxes in book depreciation		(5	)		(5	)
Total income taxes	$	385		$	300
Ratio of Earnings to Fixed Charges		2.68			2.62

Exhibit No. 12 (a)

PROGRESS ENERGY, INC.
Computation of Ratio of Earnings to Fixed Charges
For the Years Ended December 31

(dollars in millions)	2007			2006			2005			2004			2003
Earnings, as defined:
Income from continuing operations before minority interest	$	702		$	523		$	692		$	654		$	771
Fixed charges, as below		625			651			606			591			590
Preferred dividend requirements		(7	)		(7	)		(7	)		(7	)		(7	)
Minority interest		(9	)		(9	)		29			19			—
Income taxes, as below		329			199			(42	)		62			(138	)
Total earnings, as defined	$	1,640		$	1,357		$	1,278		$	1,319		$	1,216
Fixed Charges, as defined:
Interest on long-term debt	$	553		$	619		$	566		$	529		$	543
Other interest		52			13			21			43			27
Imputed interest factor in rentals — charged principally to operating expenses		13			12			12			12			13
Preferred dividend requirements of subsidiaries		7			7			7			7			7
Total fixed charges, as defined	$	625		$	651		$	606		$	591		$	590
Income Taxes:
Income tax expense (benefit)	$	334		$	204		$	(37	)	$	67		$	(130	)
Included in AFUDC — deferred taxes in book depreciation		(5	)		(5	)		(5	)		(5	)		(8	)
Total income taxes	$	329		$	199		$	(42	)	$	62		$	(138	)
Ratio of Earnings to Fixed Charges		2.62			2.08			2.11			2.23			2.06