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February 11, 2016 1:51 AM ET

Electric Utilities

Company Overview of Duke Energy Progress, LLC

Company Overview

Duke Energy Progress, LLC generates, transmits, distributes, and sells electricity in North Carolina and South Carolina. The company generates power from coal, nuclear, oil and gas, and hydroelectric resources. It supplies electric service to residential, commercial, and industrial customers. The company was founded in 1899 and is based in Raleigh, North Carolina. Duke Energy Progress, LLC operates as a subsidiary of Progress Energy Inc.

410 South Wilmington Street

Raleigh, NC 27601-1748

United States

Founded in 1899

Phone:

704-382-3853

Fax:

704-382-3814

Key Executives for Duke Energy Progress, LLC

Chief Executive Officer and Director
Age: 55
Chief Financial Officer and Executive Vice President
Age: 56
Executive Vice President of Regulated Utilities and Director
Age: 54
Chief Accounting Officer, Vice President and Controller
Age: 40
Controller of Progress Energy & Florida Progress
Age: 54
Compensation as of Fiscal Year 2015.

Duke Energy Progress, LLC Key Developments

Duke Energy Progress Proposes to Build the $750 Million Combined-Cycle Natural Gas Plant

Duke Energy Progress proposes to build the $750 million combined-cycle natural gas plant on the site of the current 376 megawatt Asheville coal plant. Once the gas plant is completed in 2019, Duke intends to close the coal plant down. The move was initially popular, including with some environmental groups, because it involved shutting down the coal plant years ahead of Duke's original plan. But the gas plant has run into opposition as regional groups raised objections to plans for a 45 mile power line through North Carolina's southwestern mountains and South Carolina's foothills. That line would run from the plant site to a new switching station at Campobello, S.C., to connect the plant to Duke Energy Carolinas' grid in South Carolina.

Public Service Company of North Carolina, Inc. Files Natural Gas Pipeline Construction and Transportation Agreement with Duke Energy Progress, LLC

Public Service Company of North Carolina Inc. (PSNC) filed a Natural Gas Pipeline Construction and Transportation Agreement (Agreement) between PSNC and Duke Energy Progress, LLC (DEP). The agreement will provide long-term gas redelivery service to DEP's proposed new 650-megawatt (MW) natural gas-fired combined cycle (CC) generating plant in Asheville. This plant is part of DEP's Western Carolinas Modernization Project. It will replace an existing 376-MW coal-fired plant when the coal-fired plant is retired from service. In addition, the new plant will serve current and growing electric demand in the area. DEP is expected to apply for a certificate of public convenience and necessity to construct the new plant pursuant to Section 1 of S.L. 2015-716 in November 2015, with a target commercial operation date of November 2019.

Duke Energy Progress Plans to Invest $37 Million to Enhance Reliability in Jacksonville, N.C

Duke Energy Progress has announced plans to construct a new transmission line to serve the Jacksonville area. The utility's $37 million investment includes construction of a 230-kilovolt (kV) transmission line between its existing Jacksonville substation, located off of Gum Branch Road, and a future Grants Creek substation adjacent to Old 30 Road. The line will be approximately 14 miles long. Construction is expected to begin in late 2017 and is targeted for completion in July 2020.

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