Florida Power Corporation · St. Petersburg, FL United States
Company Description
Phone: 727-820-5151
Fax: 727-384-7865
Toll Free: 800-700-8744
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This link will open in a new window Sometimes the sunshine state just isn't bright enough, and that's when Florida Power really shines. The utility transmits and distributes electricity to 1.6 million customers and oversees about 9,360 MW of generating capacity from interests in nuclear and coal-, oil-, and gas-fired power plants. Additionally, Florida Power purchases about 20% of the energy it provides. The utility, a subsidiary of holding company Progress Energy , also sells wholesale power to other utilities and marketers. The company is interconnected with 22 municipal power systemsn and with nine rural electric cooperative systems. To read the full description, subscribe now.
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Key Florida Power Corporation Financials
| Company Type | Subsidiary Headquarters |
| Fiscal Year-End | December |
| Annual Sales (mil.) | $4,731.0 |
| Employees | 2,000 |
Florida Power Corporation Executives
36 executives listed for Florida Power Corporation's St. Petersburg, FL location.
| Title | Name & Bio | Contact |
| Chairman | William Johnson | Network |
| President and CEO | Vincent Dolan | Network |
| SVP, CFO, and Director | Mark Mulhern | Network |
Competition
Competitive Landscape for Florida Power Corporation
Demand for electricity is driven by industrial and commercial activity and by population growth. The profitability of individual companies depends on the efficiency of their operations. Large companies have economies of scale in purchasing power; small companies can compete effectively by specializing in geographic regions. The industry is capital-intensive: average annual revenue per worker is about $2 million. The traditional electricity industry consisted of investor-owned utilities, municipal utilities, cooperatives, and government entities that owned the generation, transmission, and retail distribution facilities within a limited area and served all customers within that area as tightly regulated "natural monopolies." Though "natural monopolies" still exist, the electric energy industry in the US underwent a restructuring driven by changes in federal and state laws in the 1990s. In restructured, or deregulated, markets, generation, transmission, and distribution operations are carried out by separate companies, and the owners of local distribution lines make their lines available to competitors. The intended purpose of moving toward a less regulated electricity market was to decrease the cost of electricity by fostering competition among producers. One practical effect was the divestment of generation facilities by many investor-owned utilities. Despite the popularity of restructuring activities initially, as of mid-2009 only 14 states had deregulated their electricity industries. Several other states, including California, launched restructuring initiatives before suspending them, in part because of concerns that restructuring caused electricity rates to rise. Many local electricity distributors are still owned by utility holding companies that also own power generation facilities, wholesale transmission lines, and wholesale power trading companies. To read the full description, subscribe now.Top Florida Power Corporation Competitors
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