What is Progress Energy, Inc. mean? Progress Energy, headquartered in Raleigh, North Carolina, is a subsidiary of Duke Energy and prior to its merger with Duke Energy was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and Florida. As an independent company, the last chairman and CEO of Progress Energy was William D. Johnson; his predecessor was Robert McGehee, who died on October 9, 2007 at the age of 64 of a stroke while on a business trip to London.
Progress Energy is the majority owner and operator of the Brunswick, Crystal River 3, Robinson, and Shearon Harris nuclear power plants.
On October 16, 1999, third quarter earnings of Florida Progress Corp. fell 20.5 percent as damage from Hurricane Floyd.
On August 24, 1999, Carolina Power & Light Co. said that it would acquire Florida Progress Corp. for $5.3 billion, creating the nation's ninth-largest electric utility.
The company's current slogan is, "People, performance, excellence."
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Posted on 24 Sep 2024, this text provides information on Business related to Miscellaneous in Business. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.