Progress Energy CEO Johnson Urges Flexibility and Customer Protection in Implementing EPA Rules

The U.S. electric utility industry faces an “unprecedented convergence of new federal environmental rules – unprecedented in scope of change and compression of deadlines,” Progress Energy Chairman, President and CEO Bill Johnson told utility regulators Monday in Washington. And the “current fragmented approach, coupled with rapid-compliance... 

Rising Costs Threaten Utility Sector’s Large Dividends

To combat rising costs, companies in the Electric Utilities Sector have been looking to mergers and acquisitions to keep profits steady and maintain their healthy dividends. Stricter environmental regulations require that any new power plants built that are large enough to produce 75,000 tons of carbon dioxide a year must use the best available control... 

Comverge Surpasses Half a Billion Dollars in Future Contracted Revenues

Comverge Inc., a leading provider of smart grid, demand management, and energy efficiency solutions, announced today that its future contracted revenues have surpassed $500 million, a significant milestone recently achieved with the signing of contracts with Progress Energy Carolinas and Pepco Holdings, Inc. Comverge expects over $350 million, or 70%,... 

Comverge Announces Multi-Year Demand Management Program with Progress Energy Carolinas

Comverge, Inc. announced that it has entered into an agreement with Progress Energy Carolinas (PEC) to provide demand response hardware, software, software hosting services and project support in connection with PEC’s new EnergyWise(TM) residential demand response and energy efficiency program. The exclusive agreement has an initial term of five... 

Madison County Wind for Schools Project Brings Alternative Energy Education to Western N.C.

Winds blowing through the mountains of North Carolina will move more than leaves next year when the first rural wind power education program east of the Mississippi River is established in Madison County. A regional partnership will install small wind turbines at three schools in Madison County and develop a K-12 alternative-energy curriculum as part... 

Duke Energy Signs Used Fuel Contract for Proposed Lee Nuclear Station

Duke Energy has signed a contract with the U.S. Department of Energy (DOE) for the disposal of used nuclear fuel generated at its proposed William States Lee III Nuclear Station. The contract provides for the DOE’s acceptance and permanent disposal of all fuel from the station. For this service, the company will pay a $1 per megawatt-hour fee... 

Progress Energy Carolinas Again Seeking Renewable Energy Projects

Progress Energy Carolinas is again seeking proposals for potential renewable energy projects and alternative energy providers, as part of the company’s balanced strategy for meeting the growing energy needs of 1.4 million households and businesses in the Carolinas. The company issued an open-ended request for renewable proposals in November 2007,... 

Duke Energy Ohio Reaches Agreement on Electric Security Plan

Duke Energy Ohio announced today that a settlement agreement has been reached with most intervening parties, the Staff of the Public Utilities Commission of Ohio (PUCO) and the Ohio Consumers’ Counsel on its electric security plan under Ohio’s new energy law. The agreement, which establishes generation rates for 2009 through 2011, must be... 

Duke Energy Finalizes Catamount Energy Acquisition

Duke Energy has finalized its acquisition of Catamount Energy Corporation, announced on June 26, 2008. “The Catamount purchase further positions Duke Energy with additional expertise, resources and a proven track record to continue our growth in the wind business,” said Wouter van Kempen, president of Duke Energy Generation Services (DEGS),... 

Progress Energy Sending Crews, Contractors to Assist in Ike Restoration

Progress Energy is sending more than 800 company and contract workers from the Carolinas and Florida to Texas to assist utilities there with expected damage and power outages from Hurricane Ike. The company’s deployment of 385 employees and 437 contract personnel is larger than deployments made in support of utilities in Louisiana and Texas after...