EXHIBIT 12.5
DUKE ENERGY FLORIDA, INC.
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
The ratio of earnings to fixed charges is calculated using the Securities and Exchange Commission guidelines.
		Years Ended December 31,
(in millions)		2013		2012		2011		2010		2009
Earnings as defined for fixed charges calculation
Add:
	Pretax income from continuing operations	$	538	$	413	$	494	$	729	$	671
	Fixed charges		285		309		275		300		278
Deduct:
	Interest capitalized		68		18		14		13		27
Total earnings		$	755	$	704	$	755	$	1,016	$	922
Fixed charges:
	Interest on debt, including capitalized portions	$	249	$	274	$	253	$	271	$	258
	Estimate of interest within rental expense		36		35		22		29		20
Total fixed charges		$	285	$	309	$	275	$	300	$	278
Preferred dividends, as defined			―	$	2	$	2	$	2	$	2
Total fixed charges and preferred dividends combined		$	285	$	311	$	277	$	302	$	280
Ratio of earnings to fixed charges			2.7		2.3		2.8		3.4		3.3
Ratio of earnings to fixed charges and preferred dividends combined			2.7		2.3		2.7		3.4		3.3