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,
                                       1996     1995       1995     1994   
                                      ------   ------     ------   ------  
                                                 
     Net Income                       $238.6   $227.8     $227.0   $200.8  
                                                       
     Add:                                                   
      Operating Income Taxes           137.1    129.8      129.5    114.7  
      Other Income Taxes                (0.2)    (0.6)       0.1     (0.8) 
                                      ------   ------     ------   ------ 
     Income Before Taxes               375.5    357.0      356.6    314.7  
                                                       
     Total Interest Charges             99.6    106.1      104.5    108.4  
                                      ------   ------     ------   ------ 
     Total Earnings (A)               $475.1   $463.1     $461.1   $423.1  
                                      ------   ------     ------   ------ 
     Fixed Charges (B)                $ 99.6   $106.1     $104.5   $108.4  
                                      ------   ------     ------   ------ 
      Ratio of Earnings to                                                
       Fixed Charges (A/B)              4.77     4.36       4.41     3.90 
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