 Status of Merger Filings (as of March 26, 2012) Stakeholder Progress on Key Milestones Filed Approved Shareholder Received shareholder approvals on August 23, 2011 Department of Justice (DOJ) To date, the parties have met their obligations under the Hart-Scott-Rodino Act (HSR) The period for closing consistent with the HSR Act initial filings expires April 26, 2012 As merger close will not occur prior to April 26, 2012, the parties filed new HSR Act filings on March 22, 2012; the waiting period for the new HSR Act filing is scheduled to expire on or before April 23, 2012 Awaiting Expiration of New Waiting Period Federal Communications Commission (FCC) Received approval of Assignment of Authorization filings on July 27, 2011 On January 5, 2012, approval extended by FCC through July 12, 2012 Federal Energy Regulatory Commission (FERC) Made three merger-related filings on April 4, 2011: merger application, joint dispatch agreement (JDA) and joint open access transmission tariff (OATT) Received conditional merger approval on September 30, 2011 Filed proposed market power mitigation plan on October 17, 2011 Proposed market power mitigation plan rejected December 14, 2011 Filed revised market power mitigation plan on March 26, 2012 Nuclear Regulatory Commission (NRC) Received approval of indirect transfer of Progress Energy licenses on December 2, 2011 North Carolina Filed merger approval application on April 4, 2011 Hearings held September 20-22, 2011 Proposed orders and briefs filed with North Carolina Utilities Commission on November 23, 2011 Filed advance notice regarding revised market power mitigation plan February 22, 2012 South Carolina Submitted merger-related filings on April 25, 2011 Hearing to approve joint dispatch agreement held December 12, 2011 Proposed orders and briefs filed with South Carolina Public Service Commission on December 20, 2011 Kentucky Received Kentucky Commission approval on October 28, 2011 JDA Merger OATT 1 Exhibit 99.1 NC Public Staff filed settlement agreement on September 2, 2011; companies signed settlement with South Carolina Office of Regulatory Staff, a party to the NC docket, on September 6, 2011 |