Exhibit 12.1

PIEDMONT NATURAL GAS COMPANY, INC. AND SUBSIDIARIES

Computation of Ratio of Earnings to Fixed Charges

For Fiscal Years Ended October 31, 2006 through 2010

For Six Months Ended April 30, 2010 and 2011

(in thousands except ratio amounts)

	For Six Months Ended						For Fiscal Years Ended October 31,
	April 30, 2011		April 30, 2010		2010		2009		2008		2007		2006
Earnings:
Pre-tax income from continuing operations	$	196,009	$	189,835	$	153,687	$	169,502	$	148,750	$	123,547	$	122,525
Distributed income of equity investees		22,146		28,134		47,094		23,986		34,158		28,228		57,410
Fixed charges		28,333		26,602		55,567		51,156		65,241		63,350		58,445
Total Adjusted Earnings	$	246,488	$	244,571	$	256,348	$	244,644	$	248,149	$	215,125	$	238,380
Fixed Charges:
Interest	$	27,187	$	25,388	$	53,226	$	48,433	$	62,763	$	60,530	$	55,959
Amortization of debt expense		468		326		647		789		773		746		561
One-third of rental expense		678		888		1,694		1,934		1,705		2,074		1,925
Total Fixed Charges	$	28,333	$	26,602	$	55,567	$	51,156	$	65,241	$	63,350	$	58,445
Ratio of Earnings to Fixed Charges		8.70		9.19		4.61		4.78		3.80		3.40		4.08