September 15, 2008

PROGRESS ENERGY: PEC Began Recovery of GridSouth Costs Last July

COMPANIES: Carolina Power & Light Co dba Progress Energy Carolinas Inc | Duke Energy Corp | Progress Energy Carolinas Inc | Progress Energy Inc | South Carolina Electric & Gas Co
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Progress Energy Inc.’s subsidiary, Carolina Power & Light Company d/b/a Progress Energy Carolinas, Inc., began amortization and recovery of the wholesale portion of its GridSouth development costs in July 2008.

In 2000, the FERC issued Order 2000, which set minimum characteristics…

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