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Press Release

05/26/2011

Progress Energy issues 2011 Corporate Responsibility Report

RALEIGH, N.C. — Progress Energy issued its fifth corporate responsibility report today, reflecting the company’s commitment to transparent communication on environmental performance, financial management, community partnerships and other business issues. The 2011 report also mentions the planned merger with Duke Energy and how the combined company will be positioned for growth, enabling a continued commitment to serving its customers and communities.

“Our communities are changing continuously,” said Bill Johnson, chairman, president and CEO of Progress Energy. “We remain focused on serving these communities, where our employees live and work, and we are investing significantly in making the power system on which millions of people depend progressively cleaner, smarter and more secure.”

The report includes information on the company’s balanced solution strategy to meet growing electricity demand and secure the region’s energy future by investing in energy-efficiency programs, alternative and renewable energy sources and a state-of-the-art power system.

In addition, the report addresses the company’s commitment to its communities, including philanthropy, economic development and supplier-diversity efforts; the environment, including air and water quality; employees, including safety, ethics and diversity; and shareholders, with an emphasis on corporate governance and productivity.

The 2011 Corporate Responsibility Report is exclusively online and is available at www.progress-energy.com/CRR. An executive summary of the report is also available for download.

Highlights from the 2011 Corporate Responsibility Report include:

  • Employee safety record was in the top 10 percent of the electric utility industry, and Progress Energy Florida had its safest year in its history in 2010;
  • Invested $9 million in community programs in four target areas: education, environment, economic development and employee involvement;
  • 1.125 million megawatt-hours of electricity purchased from renewable energy resources, equal to the average annual electricity use of about 78,000 households;
  • Launched new solar power incentive programs in Florida and the Carolinas;
  • Completed installation of emissions-reduction equipment at its two largest coal-fired plants in Florida;
  • Customers in Florida and the Carolinas had electricity for 99.98 percent of the time in 2010, as a result of its investment in preventive maintenance;
  • Worked to help bring more than 3,500 jobs and more than $675 million in investments to the company’s service areas in 2010; and
  • Continued its long record of commitment to providing a dividend for shareholders.

Progress Energy (NYSE: PGN), headquartered in Raleigh, N.C., is a Fortune 500 energy company with more than 22,000 megawatts of generation capacity and approximately $10 billion in annual revenues. Progress Energy includes two major electric utilities that serve about 3.1 million customers in the Carolinas and Florida. The company has earned the Edison Electric Institute’s Edison Award, the industry’s highest honor, in recognition of its operational excellence, and was the first utility to receive the prestigious J.D. Power and Associates Founder’s Award for customer service. The company is pursuing a balanced strategy for a secure energy future, which includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. Progress Energy celebrated a century of service in 2008. Visit the company’s website at www.progress-energy.com.

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