About Duke Energy Progress, LLC
The Palmetto state and Tarheels both have Duke Energy Progress on their minds when they need some power. The company, which operates as Progress Energy Carolinas, transmits and distributes electricity to some 1.5 million homes and businesses in the Carolinas. The utility generates almost 12,600 MW of capacity from its fossil-fueled, nuclear, and hydroelectric power plants. Progress Energy Carolinas purchases about 5% of the power it distributes. The
The company operates business segment, Franchised Electric, which generates, transmits, distributes, and sells electricity.
Progress Energy Carolinas' 34,000 sq. ml. service territory includes the coastal plain of North Carolina (from the Piedmont to the Atlantic coast), the lower Piedmont section of North Carolina, western North Carolina (Asheville and its surrounding area) and a northeastern segment of South Carolina.
Progress Energy Carolinas' revenues increased by 4% in 2012 due to Joint Dispatch Agreement revenues from
Net income increased by 47% in 2012 thanks to higher revenues and a jump in the volume of fuel used in electric generation and purchased power primarily due to the impact of higher rates; higher weather-adjusted volumes and increased purchased power, which was driven by favorable gas prices and nuclear plant outages; and a more favorable generation mix, which was driven by nuclear plant outages. This was offset by an increase in operation and maintenance expenses primarily due to higher nuclear plant outage costs, higher costs to achieve the merger with
Expanding its assets, in 2012, Duke Energy acquired
Progress Energy Carolinas has invested $1.7 billion through 2012 in three major generation fleet modernization projects with 2,140 MW of capacity. In 2012 it placed in service the second of these projects, the 920 MW Lee combined cycle natural gas-fired generation facility, and continued to build the 625 MW combined cycle natural gas-fired generation Sutton facility, which is scheduled to be placed in service in 2013.
410 S WILMINGTON ST
Raleigh, NC 27601-1849
Phone: 1 (704) 382-3853
Employer Type: Privately Owned
Board Member: James Hyler
Executive Vice President Strategic Services: A Mullinax
Project Manager Ii, Pmp: Steve Neglia
Employees (This Location): 2,000
Employees (All Locations): 28,798
New Hill, NC