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 technology, which is expected to add significantly to operational costs. Mergers and acquisitions... Read more..

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, and received a number of proposals for solar and biofuels energy projects. Although the request... Read more..

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 Hurricanes Katrina and Rita in 2005. Workers are expected to be in Texas supporting utilities there... Read more..

Progress Energy Receives National Economic Development Award

Site Selection magazine has named Progress Energy one of North America’s Top Utilities for Economic Development for the sixth time in the last seven years. The magazine’s September 2008 issue selected Progress Energy as one of 10 winning utilities based on its success in helping to generate 7,405 new jobs and more than $766 million in capital investment in the Carolinas and Florida service areas in 2007. “In challenging economic... Read more..

Progress Energy Responding to Outages from Hanna

A strong Tropical Storm Hanna came ashore at 3:20 a.m., bringing high winds and heavy rains to much of Progress Energy Carolinas’ service area, and the company has deployed hundreds of company and contract workers to restore service as quickly and safely as possible. As of 8 a.m., about 55,000 customers were without power. Most of those customers are in coastal areas and in the coastal plain east of Interstate 95. Crews are also working to restore... Read more..

Progress Energy Crews Heading East to Assist in Storm Restoration

Progress Energy crews from Western North Carolina are headed to coastal areas today to assist in restoring service from the expected effects of Tropical Storm/Hurricane Hanna. The storm is expected to make landfall near the N.C./S.C. border between 2 and 4 a.m. Saturday. Company line & service crews, as well as contract line and tree crews and support personnel are expected to arrive in Wilmington and other coastal areas today, so they can be... Read more..

Progress Energy Ready for Potential Carolinas Landfall From Hanna

The forecast for Tropical Storm/Hurricane Hanna continues to change, and Progress Energy Carolinas is prepared to respond quickly to any damage and outages caused by the storm in the company’s service area. Progress Energy Carolinas officials are continuing to monitor the potential path of the storm and implementing early phases of the company’s comprehensive storm plan. The storm is expected to begin a northwesterly advance Thursday... Read more..

Progress Energy Carolinas, SunEdison Plan Solar Project at Plant Site

Progress Energy Carolinas and SunEdison have signed an agreement under which SunEdison will build, own and operate a 1.2-megawatt solar photovoltaic (PV) plant on the site of the Progress Energy L.V. Sutton Plant near Wilmington and sell the energy produced to the utility for distribution to customers. SunEdison will build the solar PV array on about 10 acres at the existing power plant site, located off Highway 421. Progress Energy will lease the... Read more..

Appalachian Energy Inks Largest Contract in Its History

The fastest growing alternative energy provider in the Southeast has signed the largest contract in its seven-year history. Appalachian Energy is partnering with Jim Barkley Toyota to provide a turnkey solar energy system that will be the largest photovoltaic (PV) installation in Western North Carolina. “It was a business decision that made good financial sense based on the federal and state tax credits available, as well as the collaboration with... Read more..

Progress Energy Florida Prepares for Effects of Tropical Storm Fay

Progress Energy Florida continues to monitor Tropical Storm Fay closely and is preparing for the storm’s potential impact on the company’s service area. Progress Energy Florida today opened its system storm center in Winter Garden to ensure quick response to storm damage and enhanced information flow to customers. The command center mobilizes resources to respond to severe weather, including plans for staging and logistics. “We are... Read more..