Florida Power Corp

Description

Florida Progress Corporation (Florida Progress or the Company, which termincludes consolidated subsidiaries unless otherwise indicated) is a wholly ownedsubsidiary of Progress Energy, Inc. (Progress Energy), a registered holdingcompany under the Public Utility Holding Company Act (PUHCA) of 1935. Progress
Energy and its subsidiaries, including Florida Progress, are subject to theregulatory provisions of PUHCA. Florida Progress was incorporated in Florida on
January 21, 1982. Florida Progress is the parent company of Florida Power
Corporation (Florida Power or the Utility) and certain other subsidiaries.
Progress Energy controls Florida Power Corporation and the other Florida
Progress subsidiaries through its ownership of Florida Progress.

On November 30, 2000, the acquisition of Florida Progress by CP&L Energy, Inc.
(CP&L Energy) became effective. In December 2000, CP&L Energy was renamed
Progress Energy, Inc.

Effective January 1, 2003, Florida Power began doing business under the name
Progress Energy Florida, Inc. (PEF). The legal name of the entity has not beenchanged and there is no restructuring of any kind related to the name change.
The current corporate and business unit structure remains unchanged.

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