Exhibit No. 12 (c)

FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined
For the Twelve Months Ended September 30

(dollars in millions)	2007		2006
Earnings, as defined:
Net income	$	386	$	330
Fixed charges, as below		228		165
Income taxes		169		155
Total earnings, as defined	$	783	$	650
Fixed Charges, as defined:
Interest on long-term debt	$	202	$	146
Other interest		22		15
Imputed interest factor in rentals – charged principally to operating expenses		4		4
Total fixed charges, as defined		228		165
Preferred dividends, as defined		2		2
Total fixed charges and preferred dividends combined	$	230	$	167
Ratio of Earnings to Fixed Charges		3.43		3.94
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined		3.40		3.88

Exhibit No. 12 (c)

FLORIDA POWER CORPORATION
d/b/a PROGRESS ENERGY FLORIDA, INC.
Computation of Ratio of Earnings to Fixed Charges and
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined
For the Years Ended December 31

(dollars in millions)	2007		2006		2005		2004		2003
Earnings, as defined:
Net income	$	317	$	328	$	260	$	335	$	297
Fixed charges, as below		188		159		138		122		103
Income taxes		144		193		121		174		147
Total earnings, as defined	$	649	$	680	$	519	$	631	$	547
Fixed Charges, as defined:
Interest on long-term debt	$	157	$	145	$	116	$	107	$	103
Other interest		28		10		18		10		(6	)
Imputed interest factor in rentals — charged principally to operating expenses		3		4		4		5		6
Total fixed charges, as defined		188		159		138		122		103
Preferred dividends, as defined		2		2		2		2		2
Total fixed charges and preferred dividends combined	$	190	$	161	$	140	$	124	$	105
Ratio of Earnings to Fixed Charges		3.45		4.28		3.76		5.17		5.31
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined		3.42		4.22		3.71		5.08		5.21