Exhibit 12    

                                                       
                            FLORIDA POWER CORPORATION                   
                        Statement of Computation of Ratios                
                              (Dollars In Millions)                      
    

     Ratio of Earnings to Fixed Charges:                                  
     
   
      
                                         12-Months           Year Ended
                                    Ended September 30,     December 31,
                                       1995     1994       1994     1993   
                                      ------   ------     ------   ------  
                                                 
     Net Income                       $227.8   $188.8     $200.8   $194.9  
                                                       
     Add:                                                   
      Operating Income Taxes           129.8    105.7      114.7    104.5  
      Other Income Taxes                (0.6)     0.3       (0.8)    (0.1) 
                                      ------   ------     ------   ------ 
     Income Before Taxes               357.0    294.8      314.7    299.3  
                                                       
     Total Interest Charges            106.1    108.0      108.4    105.8  
                                      ------   ------     ------   ------ 
     Total Earnings (A)               $463.1   $402.8     $423.1   $405.1  
                                      ------   ------     ------   ------ 
     Fixed Charges (B)                $106.1   $108.0     $108.4   $105.8  
                                      ------   ------     ------   ------ 
      Ratio of Earnings to                                                
       Fixed Charges (A/B)              4.36     3.73       3.90     3.83 
                                       =====    =====      =====    =====