January 30, 2015 1:52 PM ET

Electric Utilities

Company Overview of Duke Energy Progress, Inc.

Company Overview

Duke Energy Progress, Inc., a regulated public utility, generates, transmits, distributes, and sells electricity in North Carolina and South Carolina. The company generates power from various fuels, such as coal, nuclear, oil and gas, hydroelectric, and solar resources. It supplies electric service to approximately 1.5 million residential, commercial, and industrial customers; and serves a coverage area of approximately 34,000 square miles. The company was formerly known as Carolina Power & Light Company and changed its name to Duke Energy Progress, Inc. in April 2013. Duke Energy Progress, Inc. is based in Charlotte, North Carolina. Duke Energy Progress, Inc. is a subsidiary of Duke Energy ...

550 South Tryon Street

Charlotte, NC 28202

United States

Phone:

704-382-3853

Key Executives for Duke Energy Progress, Inc.

Chief Executive Officer and Director
Age: 54
Chief Financial Officer and Executive Vice President
Age: 55
Executive Vice President of Regulated Utilities and Director
Age: 53
Chief Accounting Officer
Age: 39
General Counsel
Age: 58
Compensation as of Fiscal Year 2014.

Duke Energy Progress, Inc. Key Developments

North Carolina Department of Utilities Commission Issues Order Granting Second Extension of Time Matter of Decommissioning Costs for Nuclear Power Plants Owned Operated by Progress Energy Carolinas, Inc., Duke Energy Carolinas and Virginia Electric and Power Company

The North Carolina Utilities Commission issued the following order in the matter of decommissioning costs for Nuclear Power Plants Owned and operated by Carolina Power & Light Company, d/b/a Progress Energy Carolinas, Inc., Duke Energy Carolinas, LLC, and Virginia Electric and Power Company d/b/a Dominion North Carolina Power. On August 12, 2014, the Commission issued an order granting extension of time in the captioned docket. The Order sets September 10, 2014 as the date for Duke Energy Carolinas, LLC (DEC) to file its Nuclear Decommissioning Cost and Funding Report. On September 5, 2014, DEC filed a Motion for Second Extension of Time requesting an additional thirty days in which to file the Report. In support of its motion, DEC states that due to the timing of the completion of a study being used to prepare the Report DEC needs additional time to adequately prepare the Report. In addition, DEC states that it has conferred with the public staff and the public staff does not object to the requested extension of time.

N Department of Environment & Natural Resources Prepares to Fine Duke Energy over Coal Ash Contamination

North Carolina environmental regulators announced they have taken the first formal step toward fining Duke Energy for groundwater contamination from coal ash storage ponds at its Sutton Plant near Wilmington. The N.C. Department of Environment and Natural Resources sent Duke Energy Progress written notice of its intent to enforce state groundwater regulations for violations at Sutton. Tom Reeder, director of the N.C. Division of Water Resources, announced fines of up to $25,000 per day are possible under state law. Duke Energy Progress has 15 days to respond to the notice that it has violated state regulations.

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

Duke Energy Progress reported unaudited sales results for the second quarter and six months ended June 30, 2014. For the quarter, sales were 14,693 GWh against 14,055 GWh last year. For the six months, sales were 30,854 GWh against 28,756 GWh last year.

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