Exhibit 12.2

Potomac Electric Power Company

	Six Months Ended June 30, 2009		For the Year Ended December 31,
			2008		2007		2006		2005		2004
	(millions of dollars)
Net income	$	36	$	116	$	125	$	85	$	165	$	97
Income tax expense (a)		27		64		62		58		128		56
Fixed charges:
Interest on long-term debt, amortization of discount, premium and expense		52		95		86		77		83		83
Other interest		5		11		12		13		14		14
Total fixed charges		57		106		98		90		97		97
Income before income tax expense, and fixed charges	$	120	$	286	$	285	$	233	$	390	$	250
Ratio of earnings to fixed charges		2.11		2.70		2.91		2.59		4.04		2.57
Total fixed charges, shown above		57		106		98		90		97		97
Preferred dividend requirements, adjusted to a pre-tax amount		—		—		—		2		2		2
Total fixed charges and preferred dividends	$	57	$	106	$	98	$	92	$	99	$	99
Ratio of earnings to fixed charges and preferred dividends		2.11		2.70		2.91		2.54		3.94		2.53

(a) Concurrent with the adoption of FIN 48 in 2007, amount includes interest on uncertain tax positions.