Who Brands - Brand Ownership DirectoryWho Brands
HomeBrowse BrandsCategoriesCompaniesCompareBlogQuizAbout
HomeBrowse BrandsCategoriesCompaniesCompareBlogQuizAbout
Who Brands

Your trusted reference for brand ownership information. We provide factual, comprehensive data about who owns the brands you know.

Stay in the know

Get the latest ownership updates delivered to your inbox.

Browse

  • All Brands
  • Categories
  • Companies
  • Countries
  • Compare Brands
  • Blog
  • Brand Quiz
  • RSS Feed

Company

  • About Us
  • Methodology
  • Contact
  • FAQ
  • Submit a Brand
  • List Your Brand
  • Write for Us

Legal

  • Terms of Service
  • Privacy Policy
  • Cookie Policy
  • Affiliate Disclosure
  • Disclaimer

Support Us

☕Buy me a coffee

2026 Who Brands. All information is provided for educational purposes. Brand names and logos are trademarks of their respective owners.

  1. Home
  2. Brands
  3. Energy & Utilities
  4. Duke Energy Progress
Duke Energy Progress logo
Energy & Utilities

Who Owns Duke Energy Progress?

Duke Energy Progress (DEP) is owned by Duke Energy Corporation (NYSE: DUK), a publicly traded energy company headquartered in Charlotte, North Carolina. Duke Energy Progress traces its origins to Carolina Power and Light Company (CP&L), founded in 1908 in Raleigh. The utility serves approximately 1.7 million customers across eastern North Carolina and South Carolina. In January 2026, FERC approved the merger of DEP and Duke Energy Carolinas, with DEP merging into DEC effective January 1, 2027.

Parent Company

Duke Energy

Acquired

2012

Status

Publicly Traded

Headquarters

Raleigh, North Carolina, USA

Duke Energy Progress Timeline

1904
Duke Energy

Parent company established in Charlotte, North Carolina, USA

Company Founded
1908

Duke Energy Progress

Founded by Carolina Power and Light Company

Founded
2012
Acquired by Duke Energy

Duke Energy acquired Duke Energy Progress

Acquired
United StatesOfficial Website

Who Owns Duke Energy Progress?

  • Parent Company: Duke Energy
  • Ownership Type: Wholly owned
  • Acquisition Year: 2012
  • Company Type: Publicly Traded
  • Stock Ticker: NYSE: DUK
BrandParent CompanyOwnership Type
Duke Energy ProgressDuke EnergyWholly owned

History of Duke Energy Progress

  • Founded: 1908
  • Founders: Carolina Power and Light Company
  • Acquired by Duke Energy: 2012

Duke Energy Progress traces its origins to Carolina Power and Light Company (CP&L), founded in 1908 in Raleigh, North Carolina. CP&L was established to provide electric service to communities in eastern North Carolina and was one of the early electric utilities in the state. The company expanded its service territory and generation capacity throughout the 20th century, developing coal-fired and nuclear generating stations.

CP&L developed a significant nuclear fleet. The Brunswick Nuclear Plant near Southport, North Carolina, has two units licensed in 1975 and 1977. The Harris Nuclear Plant near New Hill, North Carolina, has one unit licensed in 1987. The Robinson Nuclear Plant near Hartsville, South Carolina, has one unit licensed in 1971. These nuclear plants provide low-carbon baseload electricity and remain a key component of Duke Energy Progress's generation mix.

In 2000, CP&L merged with Florida Power Corporation to form Progress Energy, Inc., a Raleigh-based electric utility holding company. Progress Energy operated two regulated electric utilities: Progress Energy Carolinas in eastern North Carolina and South Carolina, and Progress Energy Florida in central Florida.

In 2012, Duke Energy Corporation completed its merger with Progress Energy, Inc., creating the largest electric utility in the United States by customer count at the time. Duke Energy renamed Progress Energy Carolinas as Duke Energy Progress and Progress Energy Florida as Duke Energy Florida.

The 2012 merger was notable for a leadership controversy. William Johnson, the CEO of Progress Energy, was designated to lead the combined company. However, Duke Energy's board replaced him with Duke Energy's existing CEO, James Rogers, within hours of the merger closing. This action drew scrutiny from North Carolina regulators and led to investigations by the NCUC and FERC.

Following the 2012 merger, Duke Energy reorganized its Carolinas operations into two regulated utilities: Duke Energy Carolinas (DEC), serving western and central North Carolina and western South Carolina, and Duke Energy Progress (DEP), serving eastern North Carolina and South Carolina.

Duke Energy Progress has been retiring coal-fired generating units and replacing them with natural gas, solar, and battery storage. The utility's service territory in eastern North Carolina has been particularly well-suited for solar development due to flat terrain, favorable solar resources, and available land. Duke Energy Progress has been one of the leading utilities in the Southeast for solar capacity additions.

The utility filed its 2025 Carolinas Resource Plan jointly with Duke Energy Carolinas, outlining generation resource additions and retirements through 2050. The plan includes investments in natural gas generation, solar energy, battery storage, and potentially new nuclear capacity, while retiring remaining coal units.

In January 2026, FERC approved the merger of DEP and DEC. DEP will merge into DEC effective January 1, 2027, creating a single Carolinas utility. The merger is expected to reduce administrative costs and simplify regulatory proceedings.

About Duke Energy

Who owns Duke Energy?
Duke Energy is a publicly traded company owned by its shareholders. It trades on the New York Stock Exchange under the ticker symbol DUK. The company is not controlled by a single parent company but is owned by institutional and individual investors. Duke Energy operates as an independent energy holding company with its strategic direction set by its Board of Directors and executive management team.

Is Duke Energy publicly traded?
Yes, Duke Energy is publicly traded on the New York Stock Exchange under the ticker symbol DUK. The company reported FY2025 revenue of $32.24 billion and adjusted EPS of $6.31. Duke Energy's 2026 adjusted EPS guidance is $6.55 to $6.80, with a long-term growth target of 5% to 7% through 2030.

Who founded Duke Energy?
Duke Energy was founded in 1904 as the Duke Power Company by James Buchanan Duke. The company expanded through strategic mergers, including Cinergy Corporation in 2000 and Progress Energy in 2012, establishing itself as one of the largest electric utilities in the United States with operations across six states.

Where is Duke Energy headquartered?
Duke Energy is headquartered in Charlotte, North Carolina, USA. Charlotte is one of the fastest-growing cities in the United States, adding approximately 157 new residents per day. Duke Energy serves 7.4 million electric customers and 1.5 million gas customers across North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.

What is Duke Energy's annual revenue?
Duke Energy reported FY2025 total operating revenues of $32.24 billion, up from $30.36 billion in 2024. The company achieved reported and adjusted EPS of $6.31 in 2025. Duke Energy's $103 billion five-year capital plan is the largest regulated capital plan in the U.S. utility industry.

What brands does Duke Energy own?
Duke Energy operates through subsidiary brands including Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, Duke Energy Ohio/Kentucky, Piedmont Natural Gas, and Duke Energy Renewables. The company is pursuing a merger of Duke Energy Carolinas and Duke Energy Progress, which is projected to save customers more than $1 billion.

What are Duke Energy's key initiatives?
Duke Energy's key initiatives include its $103 billion capital plan to build 15 gigawatts of new generation capacity by 2031, securing data center electric service agreements (7.8 gigawatts signed with 15.4 gigawatts in pipeline), expanding battery storage to 5,600 megawatts by 2031, targeting 4,000 megawatts of new solar by 2034, extending nuclear plant licenses by 20 years, and achieving net-zero carbon emissions by 2050.

What controversies has Duke Energy faced?
Duke Energy has faced regulatory challenges including the North Carolina Utilities Commission pausing its solar procurement process in April 2026, criticism over extending coal operations and increasing natural gas reliance, disputes in Indiana over alleged over-collection of $89 million, and public opposition to proposed rate increases. The company has also drawn scrutiny over its data center contracts and their impact on residential customer bills.

  • Founded: 1904
  • Headquarters: Charlotte, North Carolina, USA
  • Company Type: Publicly Traded
  • Stock: NYSE: DUK
  • Revenue: $32.24 billion (FY2025)
  • Employees: Approximately 29,000

Visit Duke Energy website

View full company profile for Duke Energy

Where Is Duke Energy Progress Made / Based?

  • Headquarters: Raleigh, North Carolina, USA
  • Manufacturing / Operations: North Carolina, South Carolina

Duke Energy Progress Categories & Tags

Electric UtilityRegulated UtilityNorth Carolina

Duke Energy Progress Sustainability & Ethics

Duke Energy Progress' sustainability strategy is tied to Duke Energy Corporation's commitment to achieve net zero carbon emissions by 2050 and eliminate coal from its Carolinas generation mix by 2035. The utility is retiring coal-fired units and replacing them with natural gas, solar, and battery storage.

The nuclear fleet is a core component of the clean energy strategy. The Brunswick, Harris, and Robinson nuclear stations provide low-carbon baseload electricity with zero carbon emissions. Nuclear power complements variable renewable sources like solar by providing reliable generation around the clock.

Duke Energy Progress has significantly expanded its solar generation capacity. Eastern North Carolina's flat terrain and available land have supported large-scale solar development. North Carolina ranks among the top states for installed solar capacity in the United States.

Energy efficiency and demand response programs help customers reduce consumption and manage peak demand. The utility offers rebates for energy-efficient appliances, smart thermostat programs, and demand response incentives.

Coal ash management is a significant environmental issue. Duke Energy has been closing coal ash ponds across its system under regulatory oversight from the U.S. EPA and state environmental agencies, following the 2014 Dan River coal ash spill.

Awards & Recognition

Specific awards for Duke Energy Progress as a standalone utility are not widely published in available sources. Recognition for the broader Duke Energy Corporation includes acknowledgment from utility industry organizations for reliability, safety, and environmental stewardship. The Edison Electric Institute has recognized Duke Energy for emergency response and outage restoration. The company's nuclear fleet has received safety recognition from the U.S. Nuclear Regulatory Commission and nuclear industry organizations.

Duke Energy Progress Recalls & Controversies

Duke Energy Progress does not manufacture consumer products, so product recalls do not apply. The utility has faced environmental, regulatory, and rate-related controversies.

2012 merger leadership controversy: The Duke Energy-Progress Energy merger was marred by a leadership change. William Johnson, Progress Energy's CEO, was designated to lead the combined company but was replaced by James Rogers within hours of the merger closing. The NCUC and FERC investigated the switch, and Duke Energy faced criticism for the abrupt change.

Coal plant closure controversy: Duke Energy Progress has retired coal-fired generating units as part of Duke Energy's clean energy transition. Environmental groups have pressed for faster retirements, while some regulators and industrial customers have raised concerns about reliability and cost during the transition. Coal plant closures have also raised concerns about job losses in affected communities.

Rate increase disputes: Duke Energy Progress has filed rate cases with the NCUC and PSCSC to recover infrastructure investments. Consumer advocacy groups have raised concerns about the impact of rate increases on residential customers, particularly low-income households.

Coal ash management: Duke Energy Progress has coal ash disposal sites from historical coal plant operations. Following the 2014 Dan River coal ash spill at a Duke Energy facility, the company has been closing coal ash ponds under regulatory oversight. Environmental groups have raised concerns about groundwater contamination.

Nuclear waste management: The Brunswick, Harris, and Robinson nuclear stations generate spent nuclear fuel requiring long-term storage. The absence of a federal permanent nuclear waste repository means spent fuel is stored on-site. Community groups have raised concerns about on-site storage safety.

DEP-DEC merger scrutiny: The merger of DEP and DEC, approved by FERC in January 2026, has drawn scrutiny from consumer advocates concerned about potential rate impacts and from environmental groups concerned about the combined utility's resource planning. State regulatory approvals are still required.

Brands Owned by Duke Energy

Duke Energy CarolinasEnergy Utilities

Duke Energy Carolinas

Owned by Duke Energy

Duke Energy's regulated electric utility subsidiary serving approximately 3.8 million customers across western and central North Carolina and western South Carolina, tracing its origins to Duke Power Company founded in 1904 by James Buchanan Duke, operating a diverse generation fleet including nuclear, natural gas, coal, hydro, and solar, with a 2025 Carolinas Resource Plan filed to guide the clean energy transition through 2050.

electric-utilityregulated-utilitynorth-carolina
Duke Energy FloridaEnergy Utilities

Duke Energy Florida

Owned by Duke Energy

Duke Energy's regulated electric utility subsidiary serving approximately 1.8 million customers across central and northern Florida, tracing its origins to Florida Power Corporation founded in 1899, acquired by Duke Energy through the 2012 merger with Progress Energy, operating a generation fleet of natural gas, solar, and battery storage as it transitions away from coal and retired nuclear capacity.

electric-utilityregulated-utilityflorida
Duke Energy RenewablesEnergy Utilities

Duke Energy Renewables

Owned by Duke Energy

Duke Energy's former commercial renewables business unit, established around 2000 as Duke Energy Renewable Services to develop and operate unregulated wind, solar, and distributed generation projects across North America; Duke Energy sold its commercial distributed generation portfolio, including REC Solar, to ArcLight Capital Partners for $364 million in December 2023, with remaining renewable development now integrated into Duke Energy's regulated utility subsidiaries.

renewable-energywind-powersolar-power
View all brands owned by Duke Energy

Duke Energy Progress Ownership: Pros & Cons

Advantages

  • +Regulated utility status provides revenue stability and predictable returns
  • +Nuclear fleet (Brunswick, Harris, Robinson) provides low-carbon baseload generation
  • +Eastern North Carolina's terrain and land availability support solar development
  • +Strong load growth from data centers and manufacturing expansion
  • +Backed by Duke Energy's investment-grade credit profile and access to capital markets
  • +Merger with DEC will reduce administrative costs and simplify regulatory proceedings

Considerations

  • -Rates are regulated by NCUC and PSCSC, limiting pricing flexibility
  • -Coal ash cleanup costs are significant and subject to regulatory proceedings
  • -Coal plant retirements require substantial capital investment in replacement generation
  • -Nuclear fleet carries operational risks and spent fuel management challenges
  • -DEP-DEC merger faces state regulatory approval requirements
  • -Rate increases face opposition from consumer advocacy groups

Frequently Asked Questions About Duke Energy Progress

Sources & Further Reading

  • [Duke Energy Corporate Website](
  • [Duke Energy Investor Relations](
  • [North Carolina Utilities Commission](
  • [South Carolina Public Service Commission](
  • [U.S. Nuclear Regulatory Commission](
  • [U.S. EPA Coal Ash Information](
  • [Duke Energy Sustainability Report](
  • [FERC](
  • [Edison Electric Institute](
  • [Wikidata: Duke Energy](
  • [SEC EDGAR: Duke Energy Filings](

Competitors to Duke Energy Progress

These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.

BrandParent CompanyCountryFoundedMarket PositionPrimary MarketGender Target
Duke Energy CarolinasDuke Energy CarolinasSister Brand
Duke Energy
USA
1904
Mass marketUnited statesAll Genders
Florida Power & LightFlorida Power & Light
Nextera Energy
USA
1925
Mass marketUnited statesAll Genders
Duke Energy FloridaDuke Energy FloridaSister Brand
Duke Energy
USA
1899
Mass marketUnited statesAll Genders

Learn More About Competitors

Duke Energy CarolinasEnergy Utilities

Duke Energy Carolinas

Owned by Duke Energy

Duke Energy's regulated electric utility subsidiary serving approximately 3.8 million customers across western and central North Carolina and western South Carolina, tracing its origins to Duke Power Company founded in 1904 by James Buchanan Duke, operating a diverse generation fleet including nuclear, natural gas, coal, hydro, and solar, with a 2025 Carolinas Resource Plan filed to guide the clean energy transition through 2050.

electric-utilityregulated-utilitynorth-carolina
Florida Power & LightEnergy Utilities

Florida Power & Light

Owned by NextEra Energy Inc.

Florida Power & Light is the largest electric utility in Florida, serving approximately 5.9 million customer accounts. A wholly-owned subsidiary of NextEra Energy Inc. (NYSE: NEE).

electric-utilityelectricitypower-generation
Duke Energy FloridaEnergy Utilities

Duke Energy Florida

Owned by Duke Energy

Duke Energy's regulated electric utility subsidiary serving approximately 1.8 million customers across central and northern Florida, tracing its origins to Florida Power Corporation founded in 1899, acquired by Duke Energy through the 2012 merger with Progress Energy, operating a generation fleet of natural gas, solar, and battery storage as it transitions away from coal and retired nuclear capacity.

electric-utilityregulated-utilityflorida

Competitive Analysis

Market Positioning: Duke Energy Progress competes with 3 brands in the same categories, ranging from mass market to luxury positioning.

Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.

Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.

Independent Alternatives to Duke Energy Progress

Looking for brands with different ownership structures? These similar brands are not owned by Duke Energy, giving you alternative choices that support different corporate structures.

Adani Green EnergyEnergy Utilities

Adani Green Energy

Owned by Adani Group

Adani Green Energy Limited (AGEL) is India's largest renewable energy company by installed capacity, listed on the National Stock Exchange and BSE. It develops, builds, and operates solar and wind power plants across India.

renewable-energysolarwind
Privately Owned

Adani Green Energy is privately owned, unlike Duke Energy Progress which is under a publicly traded parent company.

Adani PowerEnergy Utilities

Adani Power

Owned by Adani Group

India's largest private thermal power producer, operating approximately 17,550 megawatts of installed capacity across eight states, listed on NSE and BSE.

power-generationenergythermal-power
Privately Owned

Adani Power is privately owned, unlike Duke Energy Progress which is under a publicly traded parent company.

JSW EnergyEnergy Utilities

JSW Energy

Owned by JSW Group

JSW Energy Limited is an Indian independent power producer and subsidiary of JSW Group, operating thermal, hydro, solar, and wind assets with over 10 GW of installed capacity and a target of 30 GW by 2030.

renewable-energysolarwind
Privately Owned

JSW Energy is privately owned, unlike Duke Energy Progress which is under a publicly traded parent company.

CMS EnergyEnergy Utilities

CMS Energy

Owned by CMS Energy

American energy company providing electricity and natural gas utility services to Michigan residents through Consumers Energy subsidiary.

energy-utilityelectricitynatural-gas
Publicly Traded

CMS Energy operates independently without a large parent corporation.

GE VernovaEnergy Utilities

GE Vernova

Owned by GE Vernova LLC

Independent publicly traded energy technology company spun off from General Electric in April 2024, providing gas turbines, wind turbines, grid solutions, and electrification technology globally.

energy-technologywind-powergas-turbines
Publicly Traded

GE Vernova operates independently without a large parent corporation.

NHPCEnergy Utilities

NHPC

Owned by NHPC Limited

NHPC Limited is India's premier state-owned hydropower and renewable energy company, a Navratna PSU under the Ministry of Power, with over 9 GW of installed capacity across hydro, solar, and wind.

renewable-energyhydrosolar
State-Owned

NHPC operates independently without a large parent corporation.

Duke Energy Stock Information

Jobs at Duke Energy

Latest News About Duke Energy Progress

Related Articles About Duke Energy Progress

View more articles
Toy Brand Ownership: From LEGO to Hasbro
Entertainment

Toy Brand Ownership: From LEGO to Hasbro

LEGO is family-owned by the Kirk Kristiansens. Hasbro and Mattel are Wall Street-owned. Bandai Namco owns Tamagotchi. Discover who owns the biggest toy brands and why it matters. Explore our database.

Who Brands StaffSep 4, 2026
ToysLegoHasbro
Video Game Brands and Their Corporate Parents
Pop Culture

Video Game Brands and Their Corporate Parents

EA sold for $55B to Saudi Arabia's PIF, Silver Lake and Kushner's Affinity. Microsoft bought Activision Blizzard for $75.4B. Tencent owns Riot, Supercell, and stakes in Epic. Sony bought Bungie for $3.6B. Discover video game brands and their corporate parents.

Who Brands StaffSep 3, 2026
Video GamesAcquisitionsEa
Brands That Appeared in Super Bowl Ads Then Got Acquired
Pop Culture

Brands That Appeared in Super Bowl Ads Then Got Acquired

Poppi ran a Super Bowl ad in February 2025 and PepsiCo bought it for $1.95B. Grubhub debuted in Super Bowl LX after Wonder acquired it for $650M. WeatherTech ran its 14th ad. Discover brands that appeared in Super Bowl ads then got acquired.

Who Brands StaffSep 2, 2026
Super BowlAcquisitionsPoppi
View more articles

People Also Searched

Discover popular brands and companies in the Energy & Utilities category and related searches from other users.

Adani Green Energy
Brandrenewable-energy

Adani Green Energy

Adani Green Energy Limited (AGEL) is India's largest renewable energy company by installed capacity, listed on the National Stock Exchange and BSE. It develops, builds, and operates solar and wind power plants across India.

Brand in Energy & Utilities
solarwind
Adani Power
Brandpower-generation

Adani Power

India's largest private thermal power producer, operating approximately 17,550 megawatts of installed capacity across eight states, listed on NSE and BSE.

Brand in Energy & Utilities
energythermal-power
Alabama Power
Brandelectricity

Alabama Power

Alabama-based electric utility company serving millions of customers across the state, owned by Southern Company.

Brand in Energy & Utilities
utilitiesalabama
Browse All Energy & Utilities

Last reviewed: August 1, 2026 · Reviewed by Who Brands Editorial Team