Exhibit 12.1
Virginia Electric and Power Company
Computation of Ratio of Earnings to Fixed Charges
(millions of dollars)
| Years Ended | |||||||||||||||||||||
Three 2007 | Twelve March 31, 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | |||||||||||||||
Earnings, as defined: | |||||||||||||||||||||
Earnings from continuing operations before income taxes and minority interests in consolidated subsidiaries | $ | 142 | $ | 751 | $ | 762 | $ | 754 | $ | 929 | $ | 875 | $ | 1,248 | |||||||
Fixed charges included in the determination of net income | 67 | 299 | 313 | 333 | 258 | 309 | 301 | ||||||||||||||
Total earnings, as defined | $ | 209 | $ | 1,050 | $ | 1,075 | $ | 1,087 | $ | 1,187 | $ | 1,184 | $ | 1,549 | |||||||
Fixed charges, as defined: | |||||||||||||||||||||
Interest charges | $ | 68 | $ | 299 | $ | 311 | $ | 329 | $ | 256 | $ | 318 | $ | 308 | |||||||
Rental interest factor | 3 | 11 | 11 | 10 | 9 | 10 | 10 | ||||||||||||||
Total fixed charges, as defined | $ | 71 | $ | 310 | $ | 322 | $ | 339 | $ | 265 | $ | 328 | $ | 318 | |||||||
Ratio of Earnings to Fixed Charges | 2.94 | 3.39 | 3.34 | 3.21 | 4.48 | 3.61 | 4.87 | ||||||||||||||