|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|-----------------------------------------------------------------------------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|--------|
| (dollars      in millions)                                                  |   | 2008   |   |   | 2007   |   |   | 2006   |   |   | 2005   |   |   | 2004   |   |
| EARNINGS,      AS DEFINED:                                                  |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      before cumulative effect of changes in accounting    principles |   | $      | 534    |   |   | $      | 501    |   |   | $      | 457    |   |   | $      | 493    |   |   | $ | 461 |   |
| Fixed      charges, as below                                                |   |   | 227    |   |   |   | 223    |   |   |   | 225    |   |   |   | 205    |   |   |   | 201 |   |
| Income      taxes, as below                                                 |   |   | 293    |   |   |   | 290    |   |   |   | 260    |   |   |   | 234    |   |   |   | 234 |   |
| Total      earnings, as defined                                             |   | $      | 1,054  |   |   | $      | 1,014  |   |   | $      | 942    |   |   | $      | 932    |   |   | $ | 896 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| FIXED      CHARGES, AS DEFINED:                                             |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest      on long-term debt                                             |   | $      | 210    |   |   | $      | 214    |   |   | $      | 218    |   |   | $      | 191    |   |   | $ | 183 |   |
| Other      interest                                                         |   |   | 9      |   |   |   | 1      |   |   |   | (1     | )      |   |   | 6      |   |   |   | 11 |   |
| Imputed      interest factor in rentals – charged                     |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| principally      to operating expenses                                      |   |   | 8      |   |   |   | 8      |   |   |   | 8      |   |   |   | 8      |   |   |   | 7 |   |
| Total      fixed charges, as defined                                        |   |   | 227    |   |   |   | 223    |   |   |   | 225    |   |   |   | 205    |   |   |   | 201 |   |
| Preferred      dividends, as defined                                        |   |   | 5      |   |   |   | 5      |   |   |   | 5      |   |   |   | 4      |   |   |   | 5 |   |
| Total      fixed charges and preferred dividends combined                   |   | $      | 232    |   |   | $      | 228    |   |   | $      | 230    |   |   | $      | 209    |   |   | $ | 206 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| INCOME      TAXES:                                                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Income      tax expense                                                     |   | $      | 298    |   |   | $      | 295    |   |   | $      | 265    |   |   | $      | 239    |   |   | $ | 239 |   |
| Included      in AFUDC – deferred taxes in                            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| book      depreciation                                                      |   |   | (5     | )      |   |   | (5     | )      |   |   | (5     | )      |   |   | (5     | ) |   |   | (5 | ) |
| Total      income taxes                                                     |   | $      | 293    |   |   | $      | 290    |   |   | $      | 260    |   |   | $      | 234    |   |   | $ | 234 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio      of Earnings to Fixed Charges                                     |   |   | 4.64   |   |   |   | 4.55   |   |   |   | 4.19   |   |   |   | 4.55   |   |   |   | 4.45 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Ratio      of Earnings to Fixed Charges and Preferred Dividends    Combined |   |   | 4.54   |   |   |   | 4.45   |   |   |   | 4.10   |   |   |   | 4.46   |   |   |   | 4.36 |   |
|                                                                        |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

----