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Carolina Power & Light (CP&L), later doing business as Progress Energy Inc., was an electrical generation, transmission, and distribution utility based in Raleigh, North Carolina. The company was founded on July 13, 1908 as the result of the merger and buyout of numerous small, private, and financial distressed utilities across the state.
Due to rapid advances in automotive technology at that time, in 1933 all electric streetcar services ended, replaced by gasoline-powered buses. Ridership remained strong until the 1950s, when the popularity of private vehicles began to reduce transit ridership nationwide. 1881–1894 – Raleigh Street Railway; 1894–1908 – Raleigh Electric Co.
Raleigh Electric Company Power House, also known as the Carolina Power and Light Power House, is a historic power station located at Raleigh, North Carolina. It was built in 1910, and is a triparte, gable-front steel framed common bond brick building. It consists of two original two-story blocks and a one-story replacement block built in 1930.
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The company built a new headquarters in downtown Raleigh in 2004. [3] On January 10, 2011, Duke Energy announced plans to take over Progress Energy in a $26 billion deal resulting in the country's largest electric utility with 7.1 million customers. Duke Energy plans to "maintain substantial operations in Raleigh."
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