Debt and Credit Facilities (Tables)

12 Months Ended

Dec. 31, 2011

Debt Disclosure [Abstract]

Long-term debt

(in millions)					2011		2010
Parent
Senior unsecured notes, maturing 2012-2039		6.28	%	$	4,000	$	4,200
Unamortized premium and discount, net					(7)		(6)
Current portion of long-term debt					(450)		(205)
	Long-term debt, net				3,543		3,989
PEC
First mortgage bonds, maturing 2013-2038		5.17	%		3,025		2,525
First mortgage bonds/pollution control obligations, maturing 2017-2024		0.57	%		669		669
Senior unsecured notes, maturing 2012		6.50	%		500		500
Miscellaneous notes		6.00	%		5		5
Unamortized premium and discount, net					(6)		(6)
Current portion of long-term debt					(500)		0
	Long-term debt, net				3,693		3,693
PEF
First mortgage bonds, maturing 2013-2040		5.56	%		4,100		4,100
First mortgage bonds/pollution control obligations, maturing 2018-2027		0.57	%		241		241
Medium-term notes, maturing 2028		6.75	%		150		150
Unamortized premium and discount, net					(9)		(9)
Current portion of long-term debt					0		(300)
	Long-term debt, net				4,482		4,182
	Progress Energy consolidated long-term debt, net			$	11,718	$	11,864
Florida Progress Funding Corporation (See Note 23)
Debt to affiliated trust, maturing 2039		7.10	%	$	309	$	309
Unamortized premium and discount, net					(36)		(36)
	Long-term debt, affiliate			$	273	$	273

RCAs and available capacity

(in millions)				Total	Outstanding		Reserved(a)		Available
2011
Parent		Five-year (expiring 5/3/12)(b)	$	478	$	0	$	252	$	226
PEC		Three-year (expiring 10/15/13)		750		0		184		566
PEF		Three-year (expiring 10/15/13)		750		0		233		517
	Total credit facilities		$	1,978	$	0	$	669	$	1,309
2010
Parent		Five-year (expiring 5/3/12)	$	500	$	0	$	31	$	469
PEC		Three-year (expiring 10/15/13)		750		0		0		750
PEF		Three-year (expiring 10/15/13)		750		0		0		750
	Total credit facilities		$	2,000	$	0	$	31	$	1,969
(a)	To the extent amounts are reserved for commercial paper or letters of credit outstanding, they are not available for additional borrowings. At December 31, 2011 and 2010, the Parent had issued $2 million and $31 million, respectively, of letters of credit supported by the RCA. Additionally, on December 31, 2011, the Parent, PEC and PEF had $250 million, $184 million and $233 million, respectively, of outstanding commercial paper supported by the RCA.
(b)	On February 15, 2012, the Parent’s RCA was amended to extend its expiration date to May 3, 2013.

Short-term debt

The following table summarizes short-term debt, comprised of outstanding commercial paper and other miscellaneous short-term debt, and related weighted-average interest rates at December 31:
(in millions)		2011				2010
Parent		0.50	%	$	250	0.00	%	$	0
PEC		0.49			188	0.00			0
PEF		0.51			233	0.00			0
	Total	0.50	%	$	671	0.00	%	$	0

Long-term debt maturities

Long-term debt maturities during the next five years are as follows:
(in millions)	Progress Energy Consolidated
2012	$	950
2013		830
2014		300
2015		1,000
2016		300

Debt to total capital ratio - leverage

Company		Maximum Ratio		Actual Ratio(a)
Parent		68	%	58	%
PEC		65	%	46	%
PEF		65	%	51	%
(a)	Indebtedness as defined by the credit agreement includes certain letters of credit, surety bonds and guarantees not recorded on the Consolidated Balance Sheets.