Exhibit 12

PROGRESS ENERGY FLORIDA, INC.
EXHIBIT 12
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES AND
PREFERRED DIVIDENDS COMBINED AND RATIO OF EARNINGS TO FIXED CHARGES

(million of dollars)
Twelve Months Ended March 31	2005		2004
Earnings, as defined:
Net Income	$	329	$	275
Fixed charges, as below		125		104
Income taxes		168		132
Total earnings, as defined	$	622	$	511
Fixed Charges, as defined:
Interest on long-term debt	$	106	$	105
Other interest		14		(6	)
Imputed interest factor in rentals — charged principally to operating expenses		5		5
Total fixed charges, as defined	$	125	$	104
Preferred dividends, as defined	$	2	$	2
Total fixed charges and preferred dividends combined	$	127	$	106
Ratio of Earnings to Fixed Charges		4.97		4.92
Ratio of Earnings to Fixed Charges and Preferred Dividends Combined		4.89		4.81

(in millions)
Years Ended December 31	2004		2003			2002		2001		2000
Earnings, as defined:
Net income	$	335	$	296		$	325	$	311	$	212
Fixed charges, as below		122		103			114		117		130
Income taxes		174		147			163		183		151
Total earnings, as defined	$	631	$	546		$	602	$	611	$	493
Fixed Charges, as defined:
Interest on long-term debt	$	107	$	103		$	99	$	100	$	102
Other interest		10		(6	)		10		14		26
Imputed interest factor in rentals-charged principally to operating expenses		5		6			5		3		2
Total fixed charges, as defined	$	122	$	103		$	114	$	117	$	130
Preferred dividends, as defined	$	2	$	2		$	3	$	3	$	3
Total fixed charges and preferred dividends combined	$	124	$	105		$	117	$	120	$	133
Ratio of earnings to fixed charges		5.17		5.30			5.28		5.22		3.79
Ratio of earnings to fixed charges and preferred dividends combined		5.09		5.20			5.15		5.09		3.71