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2001 News Releases
Date: February 28,
2001
Florida
Power Corporation Reaches Agreement With
Gulfstream Natural Gas System to Serve Hines Power Plant
HOUSTON —
Gulfstream Natural Gas System, L.L.C. and Florida Power
Corporation, a Progress Energy company, have announced the
execution of an agreement in which Gulfstream will provide firm
natural gas transportation service to Florida Power’s recently
approved high-efficiency power plant, Hines 2, located at the
company’s Hines Energy Complex in Polk County, Fla., and other
electric generating plants operated by Florida Power.
"We are very
pleased to have reached an agreement to supply one of
Florida’s top electric utilities with natural gas
transportation on the Gulfstream Natural Gas System," said
Guy Buckley, Gulfstream senior vice president and general
manager, business functions. "We look forward to providing
Florida Power, and other Florida generators, the reliable,
economic transportation services they need to continue
implementing their impressive growth strategy."
"The Gulfstream
pipeline is fulfilling a demonstrated need in the state for
additional natural gas delivery," said William Habermeyer
Jr., president and CEO of Florida Power Corp. "Having the
pipeline in place is integral to our ability to expand the
electric generation infrastructure to meet the current and
anticipated needs of our growing customer base."
The initial phase of
the Hines Energy Complex, 482 megawatts (MW) of generation, came
on line in 1999, and a second phase providing 495 megawatts of
additional generation, is planned to begin operation in November
2003.
Gulfstream Natural
Gas System, L.L.C. is a joint interstate natural gas pipeline
development of Williams (NYSE:WMB) and Duke Energy (NYSE:DUK)
scheduled to be placed into service in June 2002. The proposed
753-mile pipeline is designed to extend from Mississippi and
Alabama across the Gulf of Mexico to serve the state of Florida.
It is designed primarily to serve Florida utilities and
power-generation facilities that will use high-efficiency
natural gas turbines to meet the demand for electric energy
which is expected to increase 25 percent by 2007.
More information
about the Gulfstream Natural Gas System is available by visiting
the project web site at www.gulfstreamgas.com.
Duke Energy, a
diversified multinational energy company, creates value for
customers and shareholders through an integrated network of
energy assets and expertise. Duke Energy manages a dynamic
portfolio of natural gas and electric supply, delivery and
trading businesses — generating revenues of more than $49
billion in 2000. Duke Energy, headquartered in Charlotte, N.C.,
is a Fortune 100 company traded on the New York Stock Exchange
under the symbol DUK. More information about the company is
available on the Internet at: www.duke-energy.com.
Williams, through
its subsidiaries, connects businesses to energy and
communications. The company delivers innovative, reliable
products and services through its extensive networks of
energy-distributing pipelines and high-speed fiber-optic cables.
Williams information is available at www.williams.com.
Florida Power Corp.
is one of two major electric utility subsidiaries of Progress
Energy, a Fortune 500 diversified holding company headquartered
in Raleigh, N.C. Progress Energy is one of the top 10
investor-owned utilities in the United States with more than
19,000 megawatts of capacity and $7 billion in annual revenues.
The company's diverse portfolio includes two major electric
utility companies, Florida Power and CP&L in the Carolinas,
as well as NCNG, SRS, Progress Telecom and Energy Ventures, an
organization created to manage wholesale energy marketing and
trading, merchant generation, fuel properties, as well as barge
and rail subsidiaries. These companies serve 2.8 million
customers across the Southeast, providing electricity, natural
gas, energy services and broadband capacity. For more
information about Progress Energy, visit the company's Web site
at www.progress-energy.com.
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