North Carolina Power & Light to buy Florida Progress in $5.3 billion deal

The acquisition will make CP&L the 10th largest energy provider in the country and could mean lower rates for customers. The trickle-down effects of the merger will be particularly interesting in North Carolina, where the debate on the best way to deregulate the electric utility market continues. Carolina Power and Duke Power Co. have offered proposals to help the state get over the biggest obstacle to deregulation – how to best deal with the $5.5 billion of debt that has been amassed by the state’s municipal power agencies.

NEW YORK, Nov. 14, 2000–Announcing a new emphasis on the energy business, an independent power developer is reporting greater overall earnings, but a net loss of $34.4 million for the third quarter 2000.

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The Clarion Energy Content Team is made up of editors from various publications, including POWERGRID International, Power Engineering, Renewable Energy World, Hydro Review, Smart Energy International, and Power Engineering International. Contact the content lead for this publication at Jennifer.Runyon@ClarionEvents.com.

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