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'''Progress Energy''' is a an energy company headquartered in Raleigh, N.C. which has more than 21,000 megawatts of generation capacity from 36 sites in the Carolinas, Florida and Georgia and $9 billion in annual revenues. The company owns "two major utilities that serve more than 3.1 million customers in the Carolinas and Florida".<ref>[http://www.progress-energy.com/aboutus/index.asp "About Us"], Progress Energy website, accessed May 2008.</ref>
On January 9, 2011, [[Duke Energy]] said it agreed to buy [[Progress Energy ]] for $13.7 billion in stock, creating the largest power company in the U.S. power company if it wins approval from regulators in North and South Carolina. The transaction would create a company with approximately 7.1 million electricity customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio, and 57,000 megawatts of generating capacity. State regulators have sought concessions from large power companies planning to merge, such as rate reductions.<ref>Matt Daily, [http://www.reuters.com/article/idUSTRE7092NK20110110?feedType=RSS&feedName=topNews "Duke Energy to buy Progress Energy for $13.7 billion"] Reuters, Jan. 10, 2011.</ref> If the deal is approved by regulators, the combined companies would form the single largest utility in the United States.<ref>[http://oilandglory.foreignpolicy.com/posts/2011/01/10/coals_dim_future "Coal's Dim Future"] Steve LeVine, Foreign Policy, January 10, 2011.</ref>
==Lobbying and Congressional campaign contributions==
