Progress Energy 2006 Annual Report Download - page 7

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5
“Our investors and customers have good reason
to feel confident about the road ahead.”
Robert B. McGehee
Chairman and Chief Executive Officer
commitments. That’s why we’re blending the
strengths of multiple approaches and retaining the
flexibility to adjust our plans to new developments.
THANKS WHERE THANKS IS DUE. As important as
plans, technologies and service territories are in our
business, it’s the people of Progress Energy and the
way they work together that give our company a
performance edge.
I am immensely grateful for the superb way our
more than 10,000 employees meet every challenge,
whether quickly responding to damaging storms or
generously helping with community needs. (Our
2006 employee charitable-giving campaign exceeded
its $1.8 million goal by 12 percent.)
The people here, including an experienced leadership
team, make this a company I’m honored to lead
and serve. Our investors and customers have good
reason to feel confident about the road ahead.
energy-efficiency initiatives and alternative energy
projects, including plants fueled by landfill gas,
animal waste and the bamboo-like e-grass™, as well
as solar and hydrogen applications.
As for existing plants, we announced major
initiatives last year to increase the power output of
our Crystal River Nuclear Plant and to convert the
oil-fired Bartow Plant to natural gas. (The Bartow
project will double the plant’s output while reducing
air emissions in the densely populated Tampa Bay
region.) Also in 2006, our Brunswick Nuclear Plant
received a 20-year extension on its federal operating
licenses and earned the nuclear industry’s Best of
the Best Award for its capacity-upgrade project.
We’re also taking steps to prepare for adding new
generating facilities. In 2006 we announced two
sites for potential nuclear expansion: one site in
Levy County, Fla., and the other in Wake County,
N.C. We are hard at work on the extensive license
applications for these two nuclear projects to keep
these promising options open, but we’re not at the
point where we need to make a final decision to
pursue either project.
We recognize that no single technology or
initiative will be sufficient to meet the growing
energy demands of our customers and the region we
serve while also fulfilling our environmental