Carolina Power & Light (CP&L), later doing business as Progress Energy Inc., was an electrical generation, transmission, and distribution utility based in

Raleigh, North Carolina Raleigh ( ) is the List of capitals in the United States, capital city of the U.S. state of North Carolina. It is the List of municipalities in North Carolina, second-most populous city in the state (after Charlotte, North Carolina, Charlotte) ...

. The company was founded on July 13, 1908 as the result of the merger and buyout of numerous small, private, and financial distressed utilities across the state. Known locally as "CP&L" the company's main operations were in Eastern North Carolina and in parts of northeastern South Carolina and in the

Asheville Asheville ( ) is a city in Buncombe County, North Carolina, United States. Located at the confluence of the French Broad and Swannanoa rivers, it is the county seat of Buncombe County. It is the most populous city in Western North Carolina a ...

area of western North Carolina. The company merged with

Florida Progress Corporation Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company ranked as the 141st largest company in the United States in 2024 – its highest-ever placement on the ...

in 2000 to become Progress Energy Inc.

History

In 1908, Raleigh Electric, Central Carolina Power and Consumer Light & Power merged to form

Carolina Power & Light Carolina Power & Light (CP&L), later doing business as Progress Energy Inc., was an electrical generation, transmission, and distribution utility based in Raleigh, North Carolina. The company was founded on July 13, 1908 as the result of the merger ...

. In 1952, CP&L added southeastern North Carolina to its service territory with the acquisition of Tide Water Power, following the death of

Hugh MacRae Hugh MacRae (30 March 1865 – 1951) was an American businessman who served as a co-conspirator in the Wilmington insurrection of 1898. Early life MacRae was born in 1865 to a Scottish and English family in Carbonton, North Carolina; his grand ...

. In 1987, CP&L placed the

Shearon Harris Nuclear Power Plant The Harris Nuclear Plant is a nuclear power plant with a single Westinghouse designed pressurized-water nuclear reactor operated by Duke Energy. It was named in honor of W. Shearon Harris, former president of Carolina Power & Light (predecessor ...

into service. In 2002, subsequent to the 2000 acquisition of

, CP&L began doing business as Progress Energy, Inc. It then distinguished its operations as Progress Energy Carolinas and Progress Energy Florida. In 2011,

Duke Energy Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina. The company ranked as the 141st largest company in the United States in 2024 – its highest-ever placement on the ...

acquired Progress Energy. CP&L was renamed Duke Energy Progress.

References

{{DEFAULTSORT:Carolina Power and Light Energy companies established in 1908 1908 establishments in North Carolina 1908 mergers and acquisitions 2000 mergers and acquisitions Electric power companies of the United States Companies based in Raleigh, North Carolina