Progress Energy — 2002 Annual Report
Cover
What does it take to build a truly great energy company?
Key Message
2002 marked the end of Progress Energy’s (formally Carolina Power and Light) ambitious and successful five-year growth plan. Part of that plan included the acquisition of Florida Progress Corporation, which nearly doubled the size of the company. The key message of this annual report was to demonstrate Progress Energy’s fundamental strength and integrity at a time when the nation’s energy sector faced unstable economic times.
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1. Start with a solid foundation
What constitutes a strong foundation these days? For a massive structure like the Washington Monument, it's 36,912 tons of granite extending nearly 37 feet below ground. But for a diversified energy company the size and scope of Progress Energy, the answer is more complex. Because our foundation is not just a platform for long-term growth, but a buttress against the economic uncertainties of the day.
