Progress Energy Florida Announces Wholesale Power Agreements
Posted on: Wednesday, 6 December 2006, 15:01 CST
ST. PETERSBURG, Fla., Dec. 6 /PRNewswire-FirstCall/ -- Progress Energy Florida has signed a long-term agreement to provide wholesale power to Seminole Electric Cooperative Inc. Financial terms of the contract were not disclosed.
(Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c)
Progress Energy will provide 750 megawatts of capacity and energy to Seminole Electric for seven years, beginning Jan. 1, 2014. The new agreement takes effect after their existing 30-year wholesale contract expires in 2013.
"Progress Energy Florida has a solid, longstanding relationship with Seminole Electric, and we are pleased to build upon our 25-year partnership," said Jeff Lyash, president and chief executive officer of Progress Energy Florida. "We will continue to meet Seminole Electric's growing energy needs with flexible and competitive products."
Seminole Electric is a generation and transmission cooperative headquartered in Tampa. Seminole's 10 member distribution cooperatives serve more than 1.6 million individuals and businesses in portions of 46 Florida counties.
"This new agreement is a very good fit for us," said Tim Woodbury, senior vice president and chief strategic officer for Seminole. "The agreement will help us maintain diversity in our power-supply portfolio by providing another cost-effective and reliable third-party source of supply that complements Seminole-owned generation."
Progress Energy Florida also has signed a five-year agreement with the city of Mount Dora for about 26 megawatts of full-requirements service beginning Jan. 1. Mount Dora owns and operates its own municipal electric utility and serves about 6,000 customers.
Both agreements will be filed with the Federal Energy Regulatory Commission.
Progress Energy Florida, a subsidiary of Progress Energy , provides electricity and related services to more than 1.6 million customers in Florida. The company is headquartered in St. Petersburg, Fla., and serves a territory encompassing more than 20,000 square miles including the cities of St. Petersburg and Clearwater, as well as the Central Florida area surrounding Orlando. Progress Energy is the 2006 recipient of the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence. In 2005, the company also received the prestigious J.D. Power and Associates Founder's Award for dedication, commitment and sustained improvement in customer service. For more information about Progress Energy, visit the company's Web site at http://www.progress-energy.com/.
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Progress Energy Florida
CONTACT: Media, Progress Energy Florida 24-hour media line,+1-866-520-6397
Web site: http://www.progress-energy.com/
Source: PRNewswire-FirstCall
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