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April 18, 2015 12:49 PM ET

Electric Utilities

Company Overview of Duke Energy Florida, Inc.

Company Overview

Duke Energy Florida, Inc., a regulated public utility, is engaged in the generation, transmission, distribution, and sale of electricity in Florida. The company operates coal and gas/oil electric generation stations. It supplies electric service to approximately 1.7 million residential, commercial, and industrial customers. The company was formerly known as Florida Power Corporation and changed its name to Duke Energy Florida, Inc. in April 2013. The company was founded in 1899 and is based in St. Petersburg, Florida. Duke Energy Florida, Inc. is a subsidiary of Florida Progress Corporation.

299 First Avenue North

St. Petersburg, FL 33701

United States

Founded in 1899



Key Executives for Duke Energy Florida, Inc.

Chief Executive Officer and Director
Age: 54
Age: 49
Chief Financial Officer and Executive Vice President
Age: 55
Chief Accounting Officer, Vice President and Controller
Age: 39
Vice President of South Coastal Region
Age: 56
Compensation as of Fiscal Year 2014.

Duke Energy Florida, Inc. Key Developments

Duke Energy Corporation, Duke Energy Carolinas, LLC, Duke Energy Florida, Inc., Duke Energy Indiana, Inc., Duke Energy Kentucky, Inc., Duke Energy Ohio, Inc., and Duke Energy Progress, Inc., Enter into Amendment to the Credit Agreement

On January 30, 2015, Duke Energy Corporation and its wholly-owned subsidiaries, Duke Energy Carolinas, LLC, Duke Energy Florida, Inc., Duke Energy Indiana, Inc., Duke Energy Kentucky, Inc., Duke Energy Ohio, Inc., and Duke Energy Progress, Inc., entered into an amendment to the $6,000,000,000 Credit Agreement, dated as of November 18, 2011 and as amended on December 18, 2013, among the Corporation and each of such subsidiaries, as Borrowers, the lenders listed therein, Wells Fargo Bank, National Association, as Administrative Agent and Swingline Lender. The credit facility was originally described and filed in the Corporation's Form 8-K dated November 25, 2011. The amendment was entered into primarily to increase the maximum aggregate borrowing amount available to the Borrowers to $7,500,000,000, and to extend the termination date of the facility from December 2018 to January 30, 2020.

Duke Energy Florida Reports Unaudited Sales Results for the Second Quarter and Six Months Ended June 30, 2014

Duke Energy Florida reported unaudited sales results for the second quarter and six months ended June 30, 2014. For the quarter, sales were 9,840 GWh against 9,853 GWh last year. For the six months, sales were 18,501 GWh against 17,869 GWh last year.

Duke Energy Plans for Three Construction Projects in Florida

Duke Energy Florida has announced that it plans for three construction projects to meet the needs of its customers in Florida. If the plans are approved by the Florida Public Service Commission, the company will construct a state-of-the-art, highly efficient combined-cycle natural gas plant in Citrus County and two simple-cycle combustion turbine generators at the Suwannee Plant near Live Oak. Additionally, it will install new equipment at the Hines Energy Complex near Bartow to increase efficiency and power output. Officials also announced the retirement timeline for two coal-fired units at the Crystal River Energy Complex. If approved by regulators, the projects will benefit customers by increasing systemwide reliability and efficiency while reducing emissions.

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