CP&L Energy Changes Name to Progress Energy

December 05, 2000 by Jeff Shepard

CP&L Energy (Raleigh, NC) has changed its name to Progress Energy. The new company includes CP&L, Florida Power, Progress Telecom, NCNG, SRS and Energy Ventures. The names of electric utilities CP&L and Florida Power will not change.

CP&L completed its acquisition of Florida Progress Corp. on 30 November 2000. Progress Energy has more than $7 billion in annual operating revenues. The company will begin trading stock on the New York Stock Exchange 11 December 2000 under the symbol PGN.