UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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): November 29, 2004
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PROGRESS ENERGY, INC.
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(Exact Name of Registrant as Specified in Its Charter)
North Carolina
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(State or Other Jurisdiction of Incorporation)
1-15929 56-2155481
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(Commission File Number) (IRS Employer Identification No.)
410 S. Wilmington Street, Raleigh, North Carolina 27601-1748
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(Address of Principal Executive Offices) (Zip Code)
919-546-6111
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(Registrant's Telephone Number, Including Area Code)
None
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(Former Name or Former Address, if Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17
CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
SECTION 7 - REGULATION FD
ITEM 7.01 REGULATION FD DISCLOSURE.
The information in this report (including the exhibit) is furnished
pursuant to Item 7.01 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. ("Progress
Energy") that the information is material or that the dissemination of the
information is required by Regulation FD.
On November 29, 2004, Progress Energy issued a Quarterly Report to Holders
of Contingent Value Obligations for the Quarter Ended September 30, 2004. A copy
of the CVO Report, which was prepared on November 15, 2004, is being furnished
as Exhibit 99.1. Exhibit 99.1 is incorporated by reference into this Item 7.01.
Progress Energy regards any information provided in the CVO Report to be
current and accurate only as of the date of the CVO Report and specifically
disclaims any duty to update such information unless it is necessary to do so in
accordance with applicable law.
This report, including the CVO Report, 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 or
implied by 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: factors affecting the
synthetic fuel plants, including cash flows derived from the synthetic fuel
plants, market acceptance of synthetic fuel, competition from competing
products, impacts of environmental regulations on potential buyers of synthetic
fuel, and income tax issues related to synthetic fuel tax credits, including a
determination from governmental authorities that Progress Energy does not
qualify for Section 29 tax credits for its synthetic fuel facilities. 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.
SECTION 9 - FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(c) EXHIBITS.
99.1 Quarterly Report to Holders of Contingent Value Obligations for the
Quarter Ended September 30, 2004.
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/Robert H. Bazemore, Jr.
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Robert H. Bazemore, Jr.
Chief Accounting Officer and
Controller
Date: November 29, 2004
EXHIBIT INDEX
Exhibit No. Exhibit Description
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99.1 Quarterly Report to Holders of Contingent Value
Obligations for the Quarter Ended September 30, 2004