Virginia Electric & Power 10-Q 2009 Q3 Quarterly report

Exhibit 12.2

Virginia Electric and Power Company

Computation of Ratio of Earnings to Fixed Charges and Preferred Dividends

(millions of dollars)

							Years Ended December 31,
	Nine Months Ended September 30, 2009			Twelve Months Ended September 30, 2009			2008			2007			2006			2005			2004
Earnings, as defined:
Income from continuing operations before income taxes, extraordinary item and cumulative effect of change in accounting principle	$	1,057		$	1,267		$	1,364		$	977		$	762		$	754		$	929
Fixed charges as defined		312			397			369			357			347			364			290
Capitalized interest		—			—			—			(4	)		(9	)		(6	)		(7	)
Preference security dividend requirement		(20	)		(26	)		(26	)		(25	)		(25	)		(25	)		(25	)
Total earnings, as defined	$	1,349		$	1,638		$	1,707		$	1,305		$	1,075		$	1,087		$	1,187
Fixed charges, as defined:
Interest charges	$	280		$	356		$	330		$	320		$	311		$	329		$	256
Preference security dividend requirement		20			26			26			25			25			25			25
Rental interest factor		12			15			13			12			11			10			9
Total fixed charges, as defined	$	312		$	397		$	369		$	357		$	347		$	364		$	290
Ratio of Earnings to Fixed Charges and Preferred Dividends		4.32			4.13			4.63			3.66			3.10			2.99			4.09