4
GLOSSARY
OF TERMS
We use
the words “Progress Energy,” “we,” “us” or “our” with respect to certain
information to indicate that such information relates to Progress Energy, Inc.
and its subsidiaries on a consolidated basis. When appropriate, the parent
holding company or the subsidiaries of Progress Energy are specifically
identified on an unconsolidated basis as we discuss their various business
activities.
The
following abbreviations, acronyms or initialisms are used by the Progress
Registrants:
TERM
DEFINITION
401(k)
Progress
Energy 401(k) Savings & Stock Ownership Plan
AFUDC
Allowance
for funds used during construction
ARO
Asset
retirement obligation
ASLB
Atomic
Safety and Licensing Board
Asset
Purchase Agreement
Agreement
by and among Global, Earthco and certain affiliates, and the Progress
Affiliates as amended on August 23, 2000
ASC
FASB
Accounting Standards Codification
ASU
Accounting
Standards Update
Audit
Committee
Audit
and Corporate Performance Committee of Progress Energy’s board of
directors
BART
Best
Available Retrofit Technology
Base
Revenues
Non-GAAP
measure defined as operating revenues excluding clause recoverable
regulatory returns, miscellaneous revenues and fuel and other pass-through
revenues
Brunswick
PEC’s
Brunswick Nuclear Plant
Btu
British
thermal unit
CAIR
Clean
Air Interstate Rule
CAMR
Clean
Air Mercury Rule
CAVR
Clean
Air Visibility Rule
CCO
Competitive
Commercial Operations
CCRC
Capacity
Cost-Recovery Clause
CERCLA
or Superfund
Comprehensive
Environmental Response, Compensation and Liability Act of 1980, as
amended
Ceredo
Ceredo
Synfuel LLC
CIGFUR
Carolina
Industrial Group for Fair Utility Rates II
Clean
Smokestacks Act
North
Carolina Clean Smokestacks Act, enacted in June 2002
Coal
Mining
Two
Progress Fuels subsidiaries engaged in the coal mining business, which
were sold on March 7, 2008
the
Code
Internal
Revenue Code
CO2
Carbon
dioxide
COL
Combined
license
Corporate
and Other
Corporate
and Other segment primarily includes the Parent, Progress Energy Service
Company and miscellaneous other nonregulated businesses
CR1
and CR2
PEF’s
Crystal River Units No. 1 and 2 coal-fired steam
turbines
CR3
PEF’s
Crystal River Unit No. 3 Nuclear Plant
CR4
and CR5
PEF’s
Crystal River Units No. 4 and 5 coal-fired steam
turbines
CUCA
Carolina
Utility Customer Association
CVO
Contingent
value obligation
D.C.
Court of Appeals
U.S.
Court of Appeals for the District of Columbia Circuit
DOE
United
States Department of Energy
DSM
Demand-side
management
Earthco
Four
coal-based solid synthetic fuels limited liability companies of which
three were wholly owned
ECCR
Energy
Conservation Cost Recovery Clause
ECRC
Environmental
Cost Recovery Clause
5
EPACT
Energy
Policy Act of 2005
EPC
Engineering,
procurement and construction
ESOP
Employee
Stock Ownership Plan
FASB
Financial
Accounting Standards Board
FDEP
Florida
Department of Environmental Protection
FERC
Federal
Energy Regulatory Commission
FGT
Florida
Gas Transmission Company, LLC
Fitch
Fitch
Ratings
the
Florida Global Case
U.S.
Global, LLC v. Progress Energy, Inc. et al
Florida
Progress
Florida
Progress Corporation
FPSC
Florida
Public Service Commission
FRCC
Florida
Reliability Coordinating Council
Funding
Corp.
Florida
Progress Funding Corporation, a wholly owned subsidiary of Florida
Progress
GAAP
Accounting
principles generally accepted in the United States of
America
the
Georgia Contracts
Full-requirements
contracts with 16 Georgia electric membership cooperatives formerly
serviced by CCO
Georgia
Operations
Former
reporting unit consisting of the Effingham, Monroe, Walton and Washington
nonregulated generation plants in service and the Georgia
Contracts
GHG
Greenhouse
gas
Global
U.S.
Global, LLC
GridSouth
GridSouth
Transco, LLC
GWh
Gigawatts-hours
Harris
PEC’s
Shearon Harris Nuclear Plant
IPP
Progress
Energy Investor Plus Plan
kV
Kilovolt
kVA
Kilovolt-ampere
kWh
Kilowatt-hours
Levy
PEF’s
proposed nuclear plant in Levy County, Fla.
LIBOR
London
Inter Bank Offered Rate
MACT
Maximum
achievable control technology
MD&A
Management’s
Discussion and Analysis of Financial Condition and Results of Operations
contained in PART II, Item 7 of this Form 10-K
Medicare
Act
Medicare
Prescription Drug, Improvement and Modernization Act of
2003
MGP
Manufactured
gas plant
MW
Megawatts
MWh
Megawatt-hours
Moody’s
Moody’s
Investors Service, Inc.
NAAQS
National
Ambient Air Quality Standards
NC
REPS
North
Carolina Renewable Energy and Energy Efficiency Portfolio
Standard
NCUC
North
Carolina Utilities Commission
NDT
Nuclear
decommissioning trust
NEIL
Nuclear
Electric Insurance Limited
NERC
North
American Electric Reliability Corporation
North
Carolina Global Case
Progress
Synfuel Holdings, Inc. et al. v. U.S. Global, LLC
the
Notes Guarantee
Florida
Progress’ full and unconditional guarantee of the Subordinated
Notes
NOx
Nitrogen
Oxides
NOx
SIP Call
EPA
NOx State Implementation Plan Call rule which requires 22 states including
North Carolina, South Carolina and Georgia (but excluding Florida) to
further reduce emissions of nitrogen oxides
NRC
United
States Nuclear Regulatory Commission
O&M
Operation
and maintenance expense
OATT
Open
Access Transmission Tariff
OCI
Other
comprehensive income
6
Ongoing
Earnings
Non-GAAP
financial measure that includes results from continuing operations after
excluding the effects of certain identified gains and
charges
OPC
Florida’s
Office of Public Counsel
OPEB
Postretirement
benefits other than pensions
the
Parent
Progress
Energy, Inc. holding company on an unconsolidated basis
PEC
Carolina
Power & Light Company d/b/a Progress Energy Carolinas,
Inc.
PEF
Florida
Power Corporation d/b/a Progress Energy Florida, Inc.
PESC
Progress
Energy Service Company, LLC
Power
Agency
North
Carolina Eastern Municipal Power Agency
Preferred
Securities
7.10%
Cumulative Quarterly Income Preferred Securities due 2039, Series A issued
by the Trust
Preferred
Securities Guarantee
Florida
Progress’ guarantee of all distributions related to the Preferred
Securities
Progress
Affiliates
Five
affiliated coal-based solid synthetic fuels facilities
Progress
Energy
Progress
Energy, Inc. and subsidiaries on a consolidated basis
Progress
Registrants
The
reporting registrants within the Progress Energy consolidated group.
Collectively, Progress Energy, Inc., PEC and PEF
Progress
Fuels
Progress
Fuels Corporation, formerly Electric Fuels Corporation
PRP
Potentially
responsible party, as defined in CERCLA
PSSP
Performance
Share Sub-Plan
PUHCA
2005
Public
Utility Holding Company Act of 2005
PVI
Progress
Energy Ventures, Inc., formerly referred to as Progress Ventures,
Inc.
QF
Qualifying
facility
RCA
Revolving
credit agreement
Reagents
Commodities
such as ammonia and limestone used in emissions control
technologies
REPS
Renewable
energy portfolio standard
Robinson
PEC’s
Robinson Nuclear Plant
RSU
Restricted
stock unit
RTO
Regional
transmission organization
SCPSC
Public
Service Commission of South Carolina
Section
29
Section
29 of the Code
Section
29/45K
General
business tax credits earned after December 31, 2005 for synthetic
fuels production in accordance with Section 29
Section
316(b)
Section
316(b) of the Clean Water Act
(See
Note/s “#”)
For
all sections, this is a cross-reference to the Combined Notes to the
Financial Statements contained in PART II, Item 8 of this Form
10-K
SERC
SERC
Reliability Corporation
S&P
Standard
& Poor’s Rating Services
SNG
Southern
Natural Gas Company
SO2
Sulfur
dioxide
Subordinated
Notes
7.10%
Junior Subordinated Deferrable Interest Notes due 2039 issued by Funding
Corp.
Tax
Agreement
Intercompany
Income Tax Allocation Agreement
Terminals
Coal
terminals and docks in West Virginia and Kentucky, which were sold on
March 7, 2008
the
Trust
FPC
Capital I
the
Utilities
Collectively,
PEC and PEF
VIE
Variable
interest entity
Ward
Ward
Transformer site located in Raleigh, N.C.
Ward
OU1
Operable
unit for stream segments downstream from the Ward site
Ward
OU2
Operable
unit for further investigation at the Ward facility and certain adjacent
areas