Progress Energy enters North Carolina loan agreement

North Carolina Eastern Municipal Power Agency (NCEMPA) has signed a new supplemental load agreement with Progress Energy (NYSE: PGN) for 2018 to 2031. Under the new agreement, NCEMPA will purchase the additional power necessary to meet the energy needs of its 32 members beyond that supplied by the generation facilities it currently owns.

According to Progress Energy, the agreement was entered after an extensive review of numerous proposals. The long-term agreement with Progress Energy was the lowest-cost option.

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