Company Overview of Duke Energy Florida, Inc.
Duke Energy Florida, Inc., a regulated public utility, engages in the generation, transmission, distribution, and sale of electricity in central and north Florida. It operates coal, gas/oil, and uranium electric generation stations. As of April 15, 2013, it served 1.7 million residential, commercial, and industrial customers. The company was formerly known as Florida Power Corporation and changed its name to Duke Energy Florida, Inc. in April 2013. The company was founded in 1899 and is based in St. Petersburg, Florida. Duke Energy Florida, Inc. operates as a subsidiary of Florida Progress Corporation.
299 First Avenue North
St. Petersburg, FL 33701
Founded in 1899
Key Executives for Duke Energy Florida, Inc.
Executive Vice President and Director
Senior Vice President and Director
Senior Vice President of Energy Delivery and Director
Compensation as of Fiscal Year 2013.
Duke Energy Florida, Inc. Key Developments
Duke Energy Florida, Inc. Announces Unaudited Earnings and Operating Results for the Nine Months Ended September 30, 2013
Nov 18 13
Duke Energy Florida, Inc. announced unaudited earnings and operating results for the nine months ended September 30, 2013. For the period, the company reported total operating revenues of $3,442 million against $1,388 million a year ago. Operating income was $567 million against $243 million a year ago. Income from continuing operations before income taxes was $448 million against $193 million a year ago. Total income was $268 million against $123 million a year ago. Total revenues were $3,421 million against $3,576 million a year ago.
For the period, the company reported total electric energy generation of 25,767 GWh against 26,478 GWh a year ago. Total sales were 29,132 GWh against 29,814 GWh a year ago.
Florida Public Service Commission Approves Amended Stipulation and Settlement Agreement of Duke Energy Florida
Oct 17 13
On October 17, 2013, the Florida Public Service Commission voted to approve without modification the amended stipulation and settlement agreement that was filed on August 1, 2013 by Duke Energy Florida settling certain matters related to the Crystal River 3 nuclear facility, the proposed Levy County nuclear project, the Crystal River 1 and 2 coal units, and future generation needs in Florida. An order will be issued by the FPSC detailing its decision.
Duke Energy Florida Reaches Revised Multi-Year Settlement with Florida Public Service Commission
Aug 1 13
Duke Energy Florida, Inc. filed a revised settlement agreement with the Florida Public Service Commission (FPSC) that provides long-term clarity for Florida customers, the company and other key stakeholders. Developed collaboratively with the Office of Public Counsel and other consumer advocates, the revised settlement agreement contains provisions related to the Crystal River 3 nuclear plant (CR3), the proposed Levy nuclear project, the Crystal River 1 and 2 coal units, and future generation needs in Florida. Major components of the revised settlement agreement include: Addressing issues related to the company's decision to retire CR3, CR3 costs to be recovered in customer rates, and the acceptance of the Nuclear Electric Insurance Limited (NEIL) mediator's proposal; Terminating the engineering, procurement and construction (EPC) agreement for the Levy nuclear project; Establishing a framework for Duke Energy Florida to construct or acquire natural gas-fired generation; Allowing recovery of investments in CR3, the Levy nuclear project and the Crystal River 1 and 2 coal units, subject to limited prudence reviews as outlined in the agreement; Extending the company's current base rate freeze an additional two years, through the end of 2018. Additionally, Duke Energy Florida will write-off $295 million associated with CR3 and $65 million related to the wholesale allocation of investments in the Levy nuclear project, as well as accelerate the recovery of $135 million in cash flows related to CR3. As a result, Duke Energy will recognize pretax charges of approximately $360 million in the second quarter of 2013. These non-cash charges will be treated as special items and, therefore, excluded from Duke Energy's adjusted diluted earnings per share. The revised settlement agreement is subject to review and approval of the FPSC, which is expected by the end of 2013. The revised settlement agreement, if approved, resolves the current pending regulatory docket before the FPSC.
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