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PROGRESS ENERGY : Florida Will Issue a Request for Proposals for Generation Beginning in 2013

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05/30/2008 | 10:54pm CEST

ST. PETERSBURG, Fla., May 30 /PRNewswire-FirstCall/ -- Progress Energy Florida today announced that on June 12, 2008 the company will issue a Request for Proposals (RFP) to supply approximately 1,200 megawatts of generating capacity beginning in 2013.

(Logo: http://www.newscom.com/cgi-bin/prnh/20020923/CHM008LOGO-c )

Proposals will compete with Progress Energy's self-build option consisting of a highly-efficient, combined-cycle, natural gas unit to be built on company property at its existing Suwannee plant in Suwannee County, Florida. The proposed unit will have an in-service date of June 1, 2013.

"Progress Energy Florida is committed to meeting the growing energy needs of our 1.7 million customers," said Jeff Lyash, president and chief executive officer of Progress Energy Florida. "We have a need for generating capacity in 2013 and, through this process we will be able to identify the most cost-effective, safe and reliable generation source for our customers."

The RFP, which is in accordance with Florida Public Service Commission rules, will be issued on June 12, 2008. Interested bidders must obtain the official RFP in order to participate and will be required to obtain updated RFP information regularly from the RFP Web site: www.progress-energy.com/PEF2013RFP.

An RFP pre-release meeting is planned for Thursday, June 5, 2008 and a meeting for interested bidders will be held on Thursday June 19, 2008. Both meetings will take place from 1 - 3 p.m. each day in the Cotillion-Terrace Room at the Marriott Westshore, 1001 N. Westshore Boulevard in Tampa, Fla.

Upon completion of screenings and evaluations, a short list of proposals will be announced in October 2008. Finalists are expected to be named in November 2008 and the award announcement is planned for mid-December 2008.

Proposal must be received by 3 p.m. EDT on Tuesday, Aug. 12, 2008.

Beginning today additional information about the pre-release RFP will be available to prospective bidders on the Progress Energy RFP Web site: www.progress-energy.com/PEF2013RFP .

All inquiries or contact about the RFP, including questions of clarification, requests for additional information, and submission of proposals, must be directed in writing to:

    David Dawson

    Progress Energy Florida

    Resource Planning

    6565 38th Ave North

    St. Petersburg, FL 33710

    Telephone number:  (727) 344-4165

    Fax number:  (727) 344-4184

    E-mail:  [email protected]

Progress Energy Florida reserves the right to revise the schedule at any time, at the company's sole discretion. Depending on Progress Energy Florida's requirements to review the proposals, the company may shorten or lengthen the schedule and revise the dates associated with the schedule.

Progress Energy Florida, a subsidiary of Progress Energy (NYSE: PGN), provides electricity and related services to 1.7 million customers in Florida. The company is headquartered in St. Petersburg, Fla., and serves a territory encompassing more than 20,000 square miles including the cities of St. Petersburg and Clearwater, as well as the Central Florida area surrounding Orlando. Progress Energy Florida is pursuing a balanced approach to meeting the future energy needs of the region. That balance includes increased energy-efficiency programs, investments in renewable energy technologies and a state-of-the-art electricity system. For more information about Progress Energy, visit the company's Web site at www.progress-energy.com.

Caution Regarding Forward-Looking Information:

This release contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements, by their very nature, involve assumptions, risks and uncertainties that could cause actual results or outcomes to differ materially from those expressed in the forward-looking statements. For example, the company's decision on whether to move forward with generation construction will depend on a variety of factors that are each subject to change, such as the political and regulatory environments, financing options available to fund construction and the overall cost of generation construction and associated transmission facilities. Any forward-looking statement speaks only as of the date such statement is made, and we undertake no obligation to update any forward-looking statement or statements to reflect events or circumstances after the date on which such statement is made.

SOURCE Progress Energy Florida

© PRNewswire 2008
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