Exhibit 12.2.b

Virginia Electric and Power Company

Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

(millions of dollars)

	Three Months Ended March 31, 2012			Twelve Months Ended March 31, 2012			Years Ended December 31,
							2011			2010			2009			2008			2007
Earnings, as defined:
Income from continuing operations before income taxes, extraordinary item and cumulative effect of change in accounting principle	$	391		$	1,305		$	1,362		$	1,394		$	503		$	1,364		$	977
Fixed charges as defined		115			394			388			412			416			369			357
Capitalized interest		—			—			—			—			—			—			(4	)
Preference security dividend requirement		(7	)		(27	)		(27	)		(27	)		(24	)		(26	)		(25	)
Total earnings, as defined	$	499		$	1,672		$	1,723		$	1,779		$	895		$	1,707		$	1,305
Fixed charges, as defined:
Interest charges	$	104		$	353		$	346		$	368		$	376		$	330		$	320
Preference security dividend requirement		7			27			27			27			24			26			25
Rental interest factor		4			14			15			17			16			13			12
Total fixed charges, as defined	$	115		$	394		$	388		$	412		$	416		$	369		$	357
Ratio of Earnings to Fixed Charges and Preferred Dividends		4.34			4.24			4.44			4.32			2.15			4.63			3.66