Progress Energy 2007 Annual Report Download - page 6

use of nuclear energy is an essential part of getting
serious about addressing climate change.
SECURING THE FUTURE. To adapt to today’s
changing energy landscape, Progress Energy is
implementing a balanced three-part strategy of
aggressive energy efficiency, innovative alterna-
tive energy and state-of-the-art power plants. This
annual report describes just a few examples of how
we’re moving forward on these three fronts.
Progress Energy Carolinas in 2007 doubled its
energy-efficiency goal and announced an array of
new efficiency initiatives, including a partnership
to promote the use of compact fluorescent lights
(CFLs). We solicited proposals for renewable energy
projects and actively worked alongside diverse
groups in the passage of new energy legislation in
North Carolina and South Carolina. The North
Carolina law established the first renewable energy
standard in the Southeast.
Also in 2007, we announced a new natural gas-
fired unit in Richmond County, N.C., and in early
2008 filed a federal license application for a poten-
tial new nuclear plant in Wake County, N.C. This
keeps our option open on this project, but it is not
yet a decision to build a new nuclear plant.
Meanwhile, Progress Energy Florida expanded
its aggressive efficiency program, signed contracts
for more renewable energy projects and launched a
much-praised SolarWise for SchoolsSM program. We
also completed a new gas-fired unit at our Hines
Energy Complex in Polk County, Fla.
In 2008 we plan to submit a federal license
application and seek state approval for a potential
new nuclear plant in Levy County, Fla. Given the
growth in Florida, this nuclear project will likely be
on a faster track than the one in North Carolina.
THE PEOPLE. My goal is to bring out the best in
the people who work here so together we can bring
out the best in Progress Energy. You will meet a few
of our many talented employees in this report. More
than 10,000 others have their own stories to tell.
I’m proud of this company’s legacy of safety,
integrity and service. We are building on that record
while being innovative in meeting the new energy
realities of 2008 and beyond. Our employees are
savvy about the changes in our industry and are
deeply committed to our service mission. They
feel the responsibility of having millions of people
depend on us every hour of every day.
The way our people strive to produce operational
excellence day after day and superior financial results
year after year inspires me. Together, we’re creating
a great place to work for all kinds of people willing
to perform to high standards – a place where we
treat everyone with dignity, respect and fairness,
and engage everyone in securing a strong future.
$2.44
1988 2007
$2.50
2.00
1.50
1.00
.50
0
20 YEARS OF DIVIDEND GROWTH
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