Progress Energy 2007 Annual Report Download - page 20

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The matters discussed throughout this Annual Report
that are not historical facts are forward looking and,
accordingly, involve estimates, projections, goals,
forecasts, assumptions, risks and uncertainties that could
cause actual results or outcomes to differ materially from
those expressed in the forward-looking statements. Any
forward-looking statement is based on information current
as of the date of this report and speaks only as of the date
on which such statement is made, and we undertake no
obligation to update any forward-looking statement or
statements to reflect events or circumstances after the
date on which such statement is made.
In addition, examples of forward-looking statements
discussed in this Annual Report include, but are not limited
to, “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” including, but not
limited to, statements under the following headings:
a) “Strategy” about our future strategy and goals;
b) “Results of Operations” about trends and uncertainties;
c) “Liquidity and Capital Resources” about operating cash
flows, estimated capital requirements through the year
2010 and future financing plans; and d) “Other Matters”
about our synthetic fuels tax credits, the effects of new
environmental regulations, nuclear decommissioning
costs and changes in the regulatory environment.
Examples of factors that you should consider with respect
to any forward-looking statements made throughout this
document include, but are not limited to, the following:
the impact of fluid and complex laws and regulations,
including those relating to the environment and the
Energy Policy Act of 2005 (EPACT); the anticipated future
need for additional baseload generation and associated
transmission facilities in our regulated service territories
and the accompanying regulatory and financial risks;
the financial resources and capital needed to comply
with environmental laws and renewable energy portfolio
standards and our ability to recover related eligible costs
under cost-recovery clauses or base rates; our ability to
meet current and future renewable energy requirements;
the inherent risks associated with the operation of nuclear
facilities, including environmental, health, regulatory and
financial risks; the impact on our facilities and businesses
from a terrorist attack; weather and drought conditions
that directly influence the production, delivery and demand
for electricity; recurring seasonal fluctuations in demand
for electricity; the ability to recover in a timely manner, if at
all, costs associated with future significant weather events
through the regulatory process; economic fluctuations and
the corresponding impact on our customers, including
downturns in the housing and consumer credit markets;
fluctuations in the price of energy commodities and
purchased power and our ability to recover such costs
through the regulatory process; our ability to control costs,
including operations and maintenance (O&M) and large
construction projects; the ability of our subsidiaries to
pay upstream dividends or distributions to the Parent; the
ability to successfully access capital markets on favorable
terms; the impact that increases in leverage may have on
us; our ability to maintain our current credit ratings and
the impact on our financial condition and ability to meet
our cash and other financial obligations in the event our
credit ratings are downgraded; our ability to fully utilize
tax credits generated from the previous production and
sale of qualifying synthetic fuels under Internal Revenue
Code Section 29/45K (Section 29/45K); the investment
performance of our nuclear decommissioning trust funds
and assets of pension and benefit plans; the outcome of
any ongoing or future litigation or similar disputes and the
impact of any such outcome or related settlements; and
unanticipated changes in operating expenses and capital
expenditures. Many of these risks similarly impact our
nonreporting subsidiaries.
These and other risk factors are detailed from time to
time in our filings with the United States Securities and
Exchange Commission (SEC). All such factors are difficult
to predict, contain uncertainties that may materially
affect actual results and may be beyond our control. New
factors emerge from time to time, and it is not possible for
management to predict all such factors, nor can it assess
the effect of each such factor on Progress Energy.
SAFE HARBOR FOR FORWARD-LOOKING STATEMENTS