Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 250 energy company with more than 21,000 megawatts (MW) of generation capacity, $9 billion in annual revenues and more than 10,500 employees. Our company has two regulated, integrated electric utilities that serve approximately 3.1 million customers in North Carolina, South Carolina and Florida. Progress Energy Carolinas’ (PEC) service territory covers more than 34,000 square miles in the Carolinas, and Progress Energy Florida (PEF) encompasses more than 20,000 square miles in Florida.
Our company has received numerous awards for outstanding operations, customer service and corporate responsibility. We are the 2006 recipient of the Edison Electric Institute’s Edison Award, the industry’s highest honor, in recognition of operational excellence, and are the first utility to receive the prestigious J.D. Power and Associates Founder’s Award for customer service. In addition, we were ranked among the top companies in the Corporate Responsibility Officer list of best corporate citizens and have been named to the Dow Jones Sustainability North America Index (DJSI North America) for four straight years.
Regulatory oversight
State and federal rules require that Progress Energy and its two utilities provide reliable and affordable electrical service to meet the demand of our customers. Regulatory bodies in each of the states served by PEC and PEF, such as the Florida Public Service Commission, North Carolina Utilities Commission and the Public Service Commission of South Carolina, oversee and approve our decisions on energy-efficiency programs, renewable energy purchases, new rates or tariffs and annual fuel costs. Progress Energy works with consumer advocates, including the Florida Office of Public Counsel, North Carolina Utilities Commission Public Staff and South Carolina Office of Regulatory Staff, to ensure that customer interests are protected in regulatory actions.
The Federal Energy Regulatory Commission (FERC) regulates wholesale electric costs, interstate transmission service and reliability standards. In addition, the Nuclear Regulatory Commission and other federal regulatory agencies provide oversight of company operations.
Generation mix
We safely generate reliable and affordable electricity from a diverse fuel portfolio, including nuclear, coal, gas, oil and hydroelectric power, at 32 sites in the Carolinas and Florida. Our installed generation capacity includes 44 percent natural gas and oil, 35 percent coal, 20 percent nuclear, and 1 percent hydroelectric. This fuel diversity enables the company to minimize cost impacts from any one fuel source and ensures reliable power for our residential, commercial, industrial and wholesale customers.
Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 250 energy company with more than 21,000 megawatts (MW) of generation capacity, $9 billion in annual revenues and more than 10,500 employees. Our company has two regulated, integrated electric utilities that serve approximately 3.1 million customers in North Carolina, South Carolina and Florida. Progress Energy Carolinas’ (PEC) service territory covers more than 34,000 square miles in the Carolinas, and Progress Energy Florida (PEF) encompasses more than 20,000 square miles in Florida.
