Progress Energy, Inc. (Progress Energy) is an integrated electric utility holding company primarily engaged in the regulated utility business. The Company’s wholly owned regulated subsidiaries, Carolina Power & Light Company (PEC) and Florida Power Corporation (PEF) (collectively, the Utilities), each a business segment, are primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina, South Carolina and Florida. The Utilities have more than 21,000 megawatts of regulated electric generation capacity and serve approximately 3.1 million retail electric customers, as well as other load-serving entities. The Utilities operate in retail service territories. The Corporate and Other segment primarily includes the operations of the Company and Progress Energy Service Company, LLC (PESC). In March 2008, the Company sold the remaining operations of Progress Fuels Corporation subsidiaries engaged in the coal mining business.