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Progress Energy was a power generation and distribution company. Prior to its merger with Duke Energy, it was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues.
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Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company ranked as the 141st largest company in the United States in 2024 – its highest-ever placement on the Fortune 500 list.
Progress Energy was an energy company headquartered in Raleigh, N.C. which has more than 21,000 megawatts of generation capacity from 36 sites in the Carolinas, Florida and Georgia and $9 billion in annual revenues. The company owned "two major utilities that serve more than 3.1 million customers in the Carolinas and Florida".[2]
Meanwhile, the Raleigh, N.C.-based energy company Progress Energy adopted a similar focus. In 2012, Duke Energy and Progress Energy combined their companies, expanding Duke Energy's services to Florida and forming the largest electric utility in the United States.
Progress Energy was a power generation and distribution company. Prior to its merger with Duke Energy, it was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues.
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