Exhibit 12.2.b
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends
(millions of dollars)
| Six Months Ended June 30, 2010 |
Twelve Months Ended June 30, 2010 |
Years Ended December 31, | ||||||||||||||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | ||||||||||||||||||||||||
| Earnings, as defined: |
||||||||||||||||||||||||||||
| Income from continuing operations before income taxes, extraordinary item and cumulative effect of change in accounting principle |
$ | 604 | $ | 1,450 | $ | 503 | $ | 1,364 | $ | 977 | $ | 762 | $ | 754 | ||||||||||||||
| Fixed charges as defined |
202 | 413 | 416 | 369 | 357 | 347 | 364 | |||||||||||||||||||||
| Capitalized interest |
— | — | — | — | (4 | ) | (9 | ) | (6 | ) | ||||||||||||||||||
| Preference security dividend requirement |
(14 | ) | (26 | ) | (24 | ) | (26 | ) | (25 | ) | (25 | ) | (25 | ) | ||||||||||||||
| Total earnings, as defined |
$ | 792 | $ | 1,837 | $ | 895 | $ | 1,707 | $ | 1,305 | $ | 1,075 | $ | 1,087 | ||||||||||||||
| Fixed charges, as defined: |
||||||||||||||||||||||||||||
| Interest charges |
$ | 180 | $ | 371 | $ | 376 | $ | 330 | $ | 320 | $ | 311 | $ | 329 | ||||||||||||||
| Preference security dividend requirement |
14 | 26 | 24 | 26 | 25 | 25 | 25 | |||||||||||||||||||||
| Rental interest factor |
8 | 16 | 16 | 13 | 12 | 11 | 10 | |||||||||||||||||||||
| Total fixed charges, as defined |
$ | 202 | $ | 413 | $ | 416 | $ | 369 | $ | 357 | $ | 347 | $ | 364 | ||||||||||||||
| Ratio of Earnings to Fixed Charges and Preferred Dividends |
3.92 | 4.45 | 2.15 | 4.63 | 3.66 | 3.10 | 2.99 | |||||||||||||||||||||