PGN - Progress Energy Inc.

Progress Energy, Inc. (Progress Energy) is a utility holding company engaged in the regulated electric utility business. The Company owns, directly or indirectly its utility subsidiaries, Carolina Power & Light Company doing business as Progress Energy Carolinas, Inc. (PEC) and Florida Power Corporation doing business as Progress Energy Florida, Inc. (PEF). The Companys segments are PEC and PEF, which are engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina and in portions of Florida, respectively. The Corporate and Other segment includes amounts applicable to the activities of the Parent and Progress Energy Service Company, LLC (PESC) and other miscellaneous non-regulated businesses (Corporate and Other). As of December31, 2010, the Utilities (collectively, PEC and PEF) had more than 22,000 megawatts of regulated electric generation capacity.