Carolina Power & Light Company · Raleigh, NC United States
Company Description
Phone: 919-546-6111
Fax: 919-546-2920
Toll Free: 800-452-2777
View Carolina Power & Light Company Locations On A US Map
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This link will open in a new window The Palmetto state and Tarheels both have Carolina Power & Light on their minds when they need some power. The company, which operates as Progress Energy Carolinas, transmits and distributes electricity to some 1.5 million homes and businesses in the Carolinas. The utility generates more than 12,400 MW of capacity from its fossil-fueled, nuclear, and hydroelectric power plants. Carolina Power & Light purchases about 5% of the power it distributes. The Progress Energy subsidiary also sells power to wholesale customers, primarily other utilities and energy marketers, including North Carolina Eastern Municipal Power Agency and North Carolina Electric Membership Corporation. To read the full description, subscribe now.
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Key Carolina Power & Light Company Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $4,429.0 |
| Employees | 6,000 |
Carolina Power & Light Company Executives
34 executives listed for Carolina Power & Light Company's Raleigh, NC location.
| Title | Name & Bio | Contact |
| President, CEO, and Director | Lloyd Yates | Network |
| Director; CFO and SVP, Progress Energy | Mark Mulhern | Network |
| SVP, Chief Nuclear Officer, and Director | James Scarola | Network |
Competition
Competitive Landscape for Carolina Power & Light Company
Demand for electricity is driven by industrial and commercial activity and by population growth. The profitability of individual companies depends on the efficiency of their operations. Large companies have economies of scale in purchasing power; small companies can compete effectively by specializing in geographic regions. The industry is capital-intensive: average annual revenue per worker is about $2 million. The traditional electricity industry consisted of investor-owned utilities, municipal utilities, cooperatives, and government entities that owned the generation, transmission, and retail distribution facilities within a limited area and served all customers within that area as tightly regulated "natural monopolies." Though "natural monopolies" still exist, the electric energy industry in the US underwent a restructuring driven by changes in federal and state laws in the 1990s. In restructured, or deregulated, markets, generation, transmission, and distribution operations are carried out by separate companies, and the owners of local distribution lines make their lines available to competitors. The intended purpose of moving toward a less regulated electricity market was to decrease the cost of electricity by fostering competition among producers. One practical effect was the divestment of generation facilities by many investor-owned utilities. Despite the popularity of restructuring activities initially, as of mid-2009 only 14 states had deregulated their electricity industries. Several other states, including California, launched restructuring initiatives before suspending them, in part because of concerns that restructuring caused electricity rates to rise. Many local electricity distributors are still owned by utility holding companies that also own power generation facilities, wholesale transmission lines, and wholesale power trading companies. To read the full description, subscribe now.Top Carolina Power & Light Company Competitors
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