Progress Energy issued its third corporate responsibility report on May 12, reflecting the company's commitment to transparent communication on important business issues such as environmental performance, financial management and community partnerships. The 2009 report, titled "Strong Foundation, Bright Future," also describes how the company is working collaboratively to address the energy realities of today and tomorrow.
"We remain focused on living up to our responsibilities and meeting our commitments, even in these turbulent economic times," said Bill Johnson, chairman, president and CEO of Progress Energy. "This is our company's 101st year in the business of providing an essential service, and I am proud of our legacy of integrity, safety and service. Our more than 10,500 employees know that our business success ultimately depends on the respect, confidence and trust we earn."
This corporate responsibility report includes information on the company's balanced solution strategy to meet growing electricity demand and secure the region's energy future by investing in energy-efficiency programs, alternative and renewable energy sources and state-of-the-art power plants. In addition, the report addresses the company's commitment to its communities, including philanthropy, economic development and supplier-diversity efforts; the environment, including air and water quality; employees, including safety, health and diversity; and shareholders, with an emphasis on corporate governance and ethics.
The 2009 Corporate Responsibility Report is exclusively online and is available at www.progress-energy.com/aboutus. An executive summary of the report is also available for download.
Progress Energy is committed to providing clean, reliable and affordable electricity and conducting all aspects of its business in a responsible manner. The company was named to the Dow Jones Sustainability North America Index in 2008 for the fourth straight year and ranked first in the South and second in the nation for business customer satisfaction, as measured by J.D. Power's 2009 business survey.
Highlights from the 2009 Corporate Responsibility Report include:
· Employee safety record in the top 10 percent of the electric utility industry;
· $200 million spent with minority- and women-owned businesses, an increase of one-third from 2007;
· More than $11 million invested in community programs in four targeted areas: education, environment, economic development and employee involvement;
· 11,000 new jobs created in Progress Energy's service territory through economic-development initiatives;
· 1 million megawatt-hours of electricity purchased from renewable energy sources;
· More than 2 million gallons of water conserved in our corporate offices;
· Completion of emission-control equipment installation on our largest coal-fired unit;
· 21st straight year of increasing stock dividends.
Progress Energy, headquartered in Raleigh, N.C., is a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Progress Energy includes two major electric utilities that serve approximately 3.1 million customers in the Carolinas and Florida. The company has earned the Edison Electric Institute's Edison Award, the industry's highest honor, in recognition of its operational excellence, and was the first utility to receive the prestigious J.D. Power and Associates Founder's Award for customer service. The company is pursuing a balanced strategy for a secure energy future, which includes aggressive energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. Progress Energy celebrated a century of service in 2008.
