Exhibit No. 12(b)

CAROLINA POWER & LIGHT COMPANY

d/b/a PROGRESS ENERGY CAROLINAS, 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)	2009			2008			2007			2006			2005
EARNINGS, AS DEFINED:
Net income	$	514		$	534		$	501		$	457		$	493
Fixed charges, as below		212			227			223			225			205
Income attributable to noncontrolling interests, net of tax		2			–			–			–			–
Income taxes, as below		272			293			290			260			234
Total earnings, as defined	$	1,000		$	1,054		$	1,014		$	942		$	932
FIXED CHARGES, AS DEFINED:
Interest on long-term debt	$	197		$	210		$	214		$	218		$	191
Other interest		10			9			1			(1	)		6
Imputed interest factor in rentals – charged principally to operating expenses		5			8			8			8			8
Total fixed charges, as defined		212			227			223			225			205
Preferred dividends, as defined		5			5			5			5			4
Total fixed charges and preferred dividends combined	$	217		$	232		$	228		$	230		$	209
INCOME TAXES:
Income tax expense	$	277		$	298		$	295		$	265		$	239
Included in AFUDC – deferred taxes in book depreciation		(5	)		(5	)		(5	)		(5	)		(5	)
Total income taxes	$	272		$	293		$	290		$	260		$	234
Ratio of Earnings to Fixed Charges		4.72			4.64			4.55			4.19			4.55
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined		4.61			4.54			4.45			4.10			4.46