Progress Energy

Business & Economy
4:38 pm
Mon May 6, 2013

Duke Energy Assesses 1700-Acre Chatham Co. Tract For Business Potential

An aerial view of the site.
Credit Duke Energy

A large parcel of undeveloped land near Siler City has been chosen by Duke Energy to take part in the utility's Site Readiness Program. The utility selected a total of 17 sites in the Carolinas, ten of which are in North Carolina. Duke Energy's Jeff Brooks says the 1700-acre Chatham County tract will be assessed for its potential to lure large industry and manufacturing to the area and calls it a "win-win" for everyone.

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5:01 am
Mon April 22, 2013

Progress Energy A Top Producer Of Solar Power Nationwide

One of Progress Energy's solar energy farms in San Antonio, Texas.
Credit Duke Energy/Progress Energy

The North Carolina utility company Progress Energy is among the nations leaders in solar production. Last year the utility company produced almost 70 megawatts of new solar generating capacity. The Solar Electric Power Association (SEPA) says that’s the 8th highest output of all U.S. utility companies.

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Business & Economy
8:14 am
Wed February 27, 2013

Progress Reaches Tentative Deal To Cut Rate Hikes

Progress Energy has reached a tentative deal with the Public Staff on the state Utilities Commission to reduce its request for a rate increase.  The agreement allows a 4.7 percent increase in June, then raises that to 5.7 percent next year.  Progress filed for an 11 percent increase in October.  Public Staff executive director Robert Gruber says it's a fair deal.

"What do they actually need in order to be able to operate reliably and attract investors?  You have to compromise that need with the impact on consumers," Gruber says.

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Business & Economy
5:10 pm
Mon December 3, 2012

Utilities Commission Approves Settlement With Duke Energy

State regulators have accepted the terms of a settlement with Duke Energy over its merger with Progress Energy.

The utility commission's vote was unanimous on the agreement terms announced last week. Duke Energy will move ahead with changes that include Jim Rogers' retirement as C-E-O. He plans to spend another year running the company But spokesman Tom Williams says Rogers could step away sooner.

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Business & Economy
7:15 am
Wed October 3, 2012

Duke Energy Could Spend Billions To Fix Florida Plant

Duke Energy may have to pay billions of dollars to repair the Crystal River nuclear plant in Florida.

A Charlotte engineering firm says the cost to fix a cracking outer-concrete layer of the containment unit could reach 3-point-4 billion dollars. Utility spokesman Mike Hughes says that's a worst-case scenario.

Mike Hughes: "Including having to do additional repair work that is not part of the planned repair scope."

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4:25 pm
Fri September 14, 2012

Progress Energy To Shut Down Coal Plant

Progress Energy will close one of its older coal-fired plants tomorrow.

Officials with the Duke Energy subsidiary say the Lee plant near Goldsboro is one of four coal plants it will retire by the end of next year. The company will replace each of them with natural gas facilities designed to cut back on environmental emissions. Progress Energy spokesman Mike Hughes says it's part of a fleet modernization program begun three years ago.

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Business & Economy
7:36 am
Tue August 14, 2012

Duke Energy CEO Jim Rogers Testifies Before Florida Regulators

Duke Energy CEO Jim Rogers was in Florida's capital of Tallahassee yesterday to testify before power regulators there. the members of the Florida Public Service Commission questioned Rogers on the leadership change at the utility and about a failing nuclear facility in that state. Rogers said despite the issues the company faces, the Sunshine State is important to the company's future.

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Business & Economy
9:00 am
Fri August 3, 2012

Duke Energy Announces Rate Cuts

Duke Energy announced its first in a series of rate cuts.

Leoneda Inge:  Duke Energy and Progress Energy promised if the companies were allowed to merge they would implement millions of dollars in utility rate cuts one month after the merger was approved.  The first round of cuts comes to about 89-million dollars.

Inge:  Yeah, I was just about to say, it’s about a dollar a month, hugh?

Tom Williams: It’s about a dollar month, but you know we have just begun this process

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Politics & Government
5:00 am
Thu August 2, 2012

State Utilities Commission Hires Chicago Law Firm

Some new legal minds will be taking a look at the controversial Duke Energy-Progress Energy merger.

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Business & Economy
9:00 am
Tue July 31, 2012

Two Duke Energy Board Members Resign

Duke Energy is looking for new board members since the resignation of two former Progress Energy directors. 

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