SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
Current Report
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of report (date of earliest event reported): July 30, 2001
PROGRESS ENERGY, INC.
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(Exact name of registrant as specified in its charter)
North Carolina 1-15929 56-2155481
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(State or other jurisdiction (Commission (IRS Employer
of incorporation) File Number) Identification No.)
410 S. Wilmington Street, Raleigh, North Carolina 27601-1748
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(Address of principal executive offices)
Registrant's telephone number, including area code: (919) 546-6111
NONE
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(Former name, former address and former fiscal year, if changed from last
report)
ITEM 9. REGULATION FD DISCLOSURE
The information in this report (including the exhibit) is furnished
pursuant to Item 9 and shall not be deemed "filed" for the purposes of Section
18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to
the liabilities of that Section. The furnishing of this report is not intended
to constitute a determination by Progress Energy, Inc. that the information is
material or that the dissemination of the information is required by Regulation
FD.
On July 25, 2001, Progress Energy conducted a webcast conference call with
the investment community to announce its earnings for the quarter ended June 30,
2001. The document filed as Exhibit 99.1 to this Form 8-K provides
clarification regarding several questions that arose during the earnings
conference call. Exhibit 99.1 is incorporated by reference into this Item 9.
Progress Energy regards any information provided in Exhibit 99.1 to be
current and accurate only as of the date of this 8-K and specifically disclaims
any duty to update such information unless it is necessary to do so in
accordance with applicable law.
This report, including Exhibit 99.1, contains forward-looking statements
within the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. The forward-looking statements involve
estimates, projections, goals, forecasts, assumptions, risks and uncertainties
that could cause actual results or outcomes to differ materially from those
expressed in the forward-looking statements. Examples of factors that you
should consider with respect to any forward-looking statements made throughout
this document include, but are not limited to, the following: governmental
policies and regulatory actions (including those of the Federal Energy
Regulatory Commission, the Environmental Protection Agency, the Nuclear
Regulatory Commission, the Department of Energy, the Securities and Exchange
Commission under the Public Utility Holding Company Act of 1935, as amended, the
North Carolina Utilities Commission, the Public Service Commission of South
Carolina and the Florida Public Service Commission), particularly legislative
and regulatory initiatives that may impact the speed and degree of the
restructuring of the electricity industry and the results of negotiations
related to the expiration of Florida Power's rate stipulation; the outcome of
legal and administrative proceedings before our principal regulators; risks
associated with operating nuclear power facilities, availability of nuclear
waste storage facilities, and nuclear decommissioning costs; changes in the
economy of areas served by CP&L, Florida Progress or NCNG; the extent to which
we are able to obtain adequate and timely rate recovery of costs, including
potential stranded costs arising from the restructuring of the electricity
industry; weather conditions and catastrophic weather-related damage; general
industry trends, increased competition from energy and gas suppliers, and market
demand for energy; inflation and capital market conditions; the extent to which
we are able to realize the potential benefits of our recent acquisition of
Florida Progress Corporation and successfully integrate it with the remainder of
our business; the extent to which we are able to realize the potential benefits
of the conversion of Carolina Power & Light Company to a non-regulated holding
company structure and the success of our direct and indirect subsidiaries; the
extent to which we are able to use tax credits associated with the
operations of the synthetic fuel facilities; the extent to which we are able to
reduce our capital expenditures through the utilization of the natural gas
expansion fund established by the North Carolina Utilities Commission; and
unanticipated changes in operating expenses and capital expenditures.
All such factors are difficult to predict, contain uncertainties that may
materially affect actual results, and may be beyond the control of Progress
Energy. New factors emerge from time to time, and it is not possible for
management to predict all of such factors, nor can it assess the effect of each
such factor on Progress Energy.
Any forward-looking statement speaks only as of the date on which such
statement is made, and Progress Energy does not undertake any obligation to
update any forward-looking statement or statements to reflect events or
circumstances after the date on which such statement is made.
ITEM 7. FINANCIAL STATEMENTS, PRO FORMA FINANCIAL
INFORMATION AND EXHIBITS
(c) EXHIBITS.
99.1 Additional Question Clarification from the July 25, 2001
Progress Energy Conference Call.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
PROGRESS ENERGY, INC.
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Registrant
By: /s/ Peter M. Scott III
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Peter M. Scott III
Executive Vice President
and Chief Financial Officer
Date: July 30, 2001
EXHIBIT INDEX
Exhibit No. Exhibit Description
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99.1 Additional Question Clarification from the July 25, 2001
Progress Energy Conference Call