Exhibit No. 12(a)

PROGRESS ENERGY, INC.

Computation of Ratio of Earnings to Fixed Charges

For the Years Ended December 31

(dollars in millions)	2008			2007			2006			2005			2004
EARNINGS, AS DEFINED:
Income from continuing operations before minority interest	$	778		$	702		$	567		$	527		$	552
Fixed charges, as below		698			625			652			607			588
Preferred dividend requirements		(7	)		(7	)		(7	)		(6	)		(7	)
Minority interest		(5	)		(9	)		(16	)		(4	)		–
Income taxes, as below		390			329			334			293			333
Total earnings, as defined	$	1,854		$	1,640		$	1,530		$	1,417		$	1,466
FIXED CHARGES, AS DEFINED:
Interest on long-term debt	$	618		$	553		$	619		$	565		$	526
Other interest		61			52			12			23			43
Imputed interest factor in rentals – charged
principally to operating expenses		12			13			14			13			12
Preferred dividend requirements of subsidiaries		7			7			7			6			7
Total fixed charges, as defined	$	698		$	625		$	652		$	607		$	588
INCOME TAXES:
Income tax expense (benefit)	$	395		$	334		$	339		$	298		$	338
Included in AFUDC – deferred taxes in
book depreciation		(5	)		(5	)		(5	)		(5	)		(5	)
Total income taxes	$	390		$	329		$	334		$	293		$	333
Ratio of Earnings to Fixed Charges		2.66			2.62			2.35			2.33			2.49