Exhibit 12.02

SOUTH CAROLINA ELECTRIC & GAS COMPANY  CALCULATION OF RATIOS  FOR THE YEAR ENDED DECEMBER 31, 2004  (Dollars in Millions)

CALCULATION OF BOND RATIO:

|Net earnings(1)                           |                                                                               |                                   |            |       | $ | 711.1
|----------------------------------------- | ----------------------------------------------------------------------------- | --------------------------------- | ---------- | ----- | - | -----
|Divide by annualized interest charges on: |                                                                               |                                   |            |       |   |      
|                                          | Bonds authenticated under SCE&G's First and Refunding Mortgage Bond Indenture |                                   | $          | 11.8  |   |      
|                                          | Other indebtedness(1)                                                         |                                   |            | 112.5 |   |      
|                                          |                                                                               | Total annualized interest charges |            |       |   |      
|                                          |                                                                               |                                   | Bond Ratio |       |   |      

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CALCULATION OF NEW BOND RATIO:

|Net earnings(2)                           |                                                                 |                                   |                |       | $ | 691.9
|----------------------------------------- | --------------------------------------------------------------- | --------------------------------- | -------------- | ----- | - | -----
|Divide by annualized interest charges on: |                                                                 |                                   |                |       |   |      
|                                          | Bonds authenticated under SCE&G's First Mortgage Bond Indenture |                                   | $              | 111.0 |   |      
|                                          | Other indebtedness(2)                                           |                                   |                | 13.3  |   |      
|                                          |                                                                 | Total annualized interest charges |                |       |   |      
|                                          |                                                                 |                                   | New Bond Ratio |       |   |      

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CALCULATION OF PREFERRED STOCK RATIO:

|Net earnings(3)                           |                                                          |                                   |                       |       | $ | 225.2
|----------------------------------------- | -------------------------------------------------------- | --------------------------------- | --------------------- | ----- | - | -----
|Divide by annualized interest charges on: |                                                          |                                   |                       |       |   |      
|                                          | Bonds outstanding under SCE&G's mortgage bond indentures |                                   | $                     | 124.3 |   |      
|                                          | Preferred dividend requirements                          |                                   |                       | 7.3   |   |      
|                                          |                                                          | Total annualized interest charges |                       |       |   |      
|                                          |                                                          |                                   | Preferred Stock Ratio |       |   |      

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SOUTH CAROLINA ELECTRIC & GAS COMPANY
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
For Each of the Five Years Ended December 31, 2004
(Dollars in Millions)

|                                         |                                                          | Years Ended December 31, |     
|---------------------------------------- | -------------------------------------------------------- | ------------------------ | ----
|
|Fixed Charges as defined:                |                                                          |                          |     
|                                         | Interest on long-term debt                               |                          | $   
|                                         | Amortization of debt premium, discount and expense (net) |                          |     
|                                         | Interest component on rentals                            |                          |     
|                                         | Preference security dividend requirement                 |                          |     
|                                         |                                                          |                          |     
|                                         |                                                          | Total Fixed Charges (A)  |     
|                                         |                                                          |                          |     
|Earnings as defined:                     |                                                          |                          |     
|                                         | Pretax income from continuing operations                 |                          | $   
|                                         | Total fixed charges above                                |                          |     
|                                         | Preference security dividend requirements from above     |                          |     
|                                         |                                                          |                          |     
|                                         |                                                          | Total Earnings (B)       |     
|                                         |                                                          |                          |     
|Ratio of Earnings to Fixed Charges (B/A) |                                                          |                          | 4.31
|                                         |                                                          |                          |     

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