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Risk Management Activities and Derivative Transactions (Tables)

3 Months Ended

9 Months Ended

12 Months Ended

Sep. 30, 2012

Dec. 31, 2011

Risk Management Activities And Derivative Transactions Disclosure [Line Items]

Notional amounts of derivative instruments related to interest rate risk

Notional Amounts of Derivative Instruments Related to Interest Rate
		Progress Energy		PEC		PEF
(in millions)		September 30, 2012
Undesignated contracts	$	100	$	50	$	50

(in millions)		December 31, 2011
Cash flow hedges	$	500	$	250	$	50

Underlying notional amounts for commodity derivative instruments accounted for at fair value

Underlying Notional Amounts for Commodity Derivative Instruments Accounted for At Fair Value
		Progress Energy	PEC	PEF
		September 30, 2012
Commodity contracts
	Electricity-energy (Gigawatt-hours)^(a)	1,850	1,850	0
	Electricity-capacity (Gigawatt-months)^(a)	5	5	0
	Natural gas (millions of decatherms)	297	89	208
	Fuel oil (millions of gallons)	6	0	6

		December 31, 2011
Commodity contracts
	Natural gas (millions of decatherms)	347	103	244
	Fuel oil (millions of gallons)	10	0	10

Location and fair value amounts of derivatives reflected in the unaudited condensed balance sheets

Location and Fair Value of Derivatives Reflected in the Balance Sheets
				Progress Energy				PEC				PEF
Instrument / Balance Sheet location				September 30, 2012
(in millions)			Asset		Liability		Asset		Liability		Asset		Liability
Derivatives designated as hedging instruments
Commodity contracts
	Derivative liabilities, current				$	1			$	-			$	1
		Total derivatives designated as hedging instruments				1				0				1

Derivatives not designated as hedging instruments
Commodity contracts^(a)
	Investments and other assets: other		$	1		0	$	0		0	$	1		0
	Derivative liabilities, current			8		220		3		74		5		146
	Deferred credits and other liabilities: other			14		209		2		74		12		135
Interest rate contracts^(a)
	Derivative liabilities, current					23				11				12
CVOs^(b)
	Deferred credits and other liabilities: other					4				0				0
		Total derivatives not designated as hedging instruments		23		456		5		159		18		293
		Total derivatives	$	23	$	457	$	5	$	159	$	18	$	294

^(a)	Substantially all of these contracts receive regulatory treatment.
^(b)	As discussed in Note 16 in the 2011 Form 10-K, the Parent issued 98.6 million Contingent Value Obligations (CVOs) in connection with the acquisition of Florida Progress Corporation (Florida Progress) during 2000. Through a negotiated settlement agreement and subsequent tender offer between October 2011 and February 2012, we repurchased and continue to hold 83.4 million CVOs.

				Progress Energy				PEC				PEF
Instrument / Balance Sheet location			December 31, 2011
(in millions)			Asset		Liability		Asset		Liability		Asset		Liability
Derivatives designated as hedging instruments
Commodity contracts
	Derivative liabilities, current				$	2			$	-			$	2
	Deferred credits and other liabilities: other					1				-				1
Interest rate contracts
	Derivative liabilities, current					76				38				0
	Deferred credits and other liabilities: other					17				9				8
		Total derivatives designated as hedging instruments				96				47				11

Derivatives not designated as hedging instruments
Commodity contracts^(a)
	Derivative liabilities, current		$	5		357	$	0		91	$	5		266
	Deferred credits and other liabilities: other			0		332		0		110		0		222
CVOs^(b)
	Current liabilities: other					14				-				-
		Total derivatives not designated as hedging instruments		5		703		0		201		5		488
		Total derivatives	$	5	$	799	$	0	$	248	$	5	$	499

^(a)	Substantially all of these contracts receive regulatory treatment.
^(b)	As discussed in Note 16 in the 2011 Form 10-K, the Parent issued 98.6 million CVOs in connection with the acquisition of Florida Progress during 2000. In 2011, we repurchased and continue to hold 80.1 million CVOs in a negotiated settlement agreement and subsequent tender offer.

Cash flow hedges - location and amount of pretax gains and losses in comprehensive income or income

Cash Flow Hedges - Location and Amount of Pre-Tax Gains and (Losses) Recognized in Comprehensive Income
				Progress Energy				PEC				PEF
			Three months ended September 30
(in millions)			2012		2011		2012		2011		2012		2011
Pre-tax gains (losses) recognized in OCI^(a)
	Commodity contracts		$	1	$	(1)	$	0	$	0	$	1	$	(1)
	Interest rate contracts^(b)			0		(111)		0		(58)		0		(27)
Total pre-tax gains (losses) recognized in OCI			$	1	$	(112)	$	0	$	(58)	$	1	$	(28)
Location of pre-tax gains (losses) reclassified from OCI into income^(a)
	Interest rate contracts^(b)
		Interest expense	$	(2)	$	(3)	$	0	$	(2)	$	0	$	0
Total pre-tax gains (losses) reclassified from OCI into income			$	(2)	$	(3)	$	0	$	(2)	$	0	$	0
Location of pre-tax gains (losses) recognized in income on derivatives^(c)
	Interest rate contracts^(b)
		Interest expense	$	0	$	(1)	$	0	$	(1)	$	0	$	0
Total pre-tax gains (losses) recognized in income on derivatives			$	0	$	(1)	$	0	$	(1)	$	0	$	0

^(a)	Effective portion.
^(b)	Amounts in AOCI related to terminated hedges are reclassified to earnings as the interest expense is recorded. The effective portion of the hedges will be amortized to interest expense over the term of the related debt.
^(c)	Related to ineffective portion and amount excluded from effectiveness testing.

				Progress Energy				PEC				PEF
			Nine months ended September 30
(in millions)			2012		2011		2012		2011		2012		2011
Pre-tax gains (losses) recognized in OCI^(a)
	Commodity contracts		$	1	$	(1)	$	0	$	0	$	1	$	(1)
	Interest rate contracts^(b)			(11)		(134)		(7)		(67)		(2)		(35)
Total pre-tax gains (losses) recognized in OCI			$	(10)	$	(135)	$	(7)	$	(67)	$	(1)	$	(36)
Location of pre-tax gains (losses) reclassified from OCI into income^(a)
	Interest rate contracts^(b)
		Interest expense	$	(12)	$	(9)	$	(5)	$	(5)	$	(2)	$	0
Total pre-tax gains (losses) reclassified from OCI into income			$	(12)	$	(9)	$	(5)	$	(5)	$	(2)	$	0
Location of pre-tax gains (losses) recognized in income on derivatives^(c)
	Interest rate contracts^(b)
		Interest expense	$	0	$	(3)	$	0	$	(1)	$	0	$	0
Total pre-tax gains (losses) recognized in income on derivatives			$	0	$	(3)	$	0	$	(1)	$	0	$	0

^(a)	Effective portion.
^(b)	Amounts in AOCI related to terminated hedges are reclassified to earnings as the interest expense is recorded. The effective portion of the hedges will be amortized to interest expense over the term of the related debt.
^(c)	Related to ineffective portion and amount excluded from effectiveness testing.

Undesignated contracts - location and amount of pretax gains and losses recognized in income as regulatory assets or liabilities

Undesignated Contracts - Location and Amount of Pre-Tax Gains and (Losses) Recognized in Income or as Regulatory Assets or Liabilities
				Progress Energy				PEC				PEF
				Three months ended September 30
(in millions)				2012	2011			2012	2011			2012	2011
Location of pre-tax gains and (losses) recognized in earnings
	Commodity contracts
		Regulated electric revenue	$	(9)	$	0	$	(9)	$	0	$	0	$	0
		Fuel used in electric generation and purchased power^(a)		(135)		(91)		(35)		(20)		(100)		(71)
	Interest rate contracts
		Interest expense^(b)		(4)		0		(3)		0		(1)		0
Total pre-tax gains (losses) recognized in earnings			$	(148)	$	(91)	$	(47)	$	(20)	$	(101)	$	(71)
Location of pre-tax gains and (losses) recognized as regulatory assets or liabilities
	Commodity contracts^(c)
		Regulatory asset	$	60	$	(157)	$	15	$	(42)	$	45	$	(115)
	Interest rate contracts^(b)
		Regulatory asset		2		0		2		0		0		0
Total pre-tax gains (losses) recognized as regulatory assets or liabilities			$	62	$	(157)	$	17	$	(42)	$	45	$	(115)
Location of pre-tax gains and (losses) recognized in income on derivatives
	Fair value loss transition adjustment
		Regulated electric revenue	$	0	$	1	$	0	$	1	$	0	$	0
	CVOs
		Other income and expenses, net		(1)		(63)		0		0		0		0
Total pre-tax gains (losses) recognized in income on derivatives			$	(1)	$	(62)	$	0	$	1	$	0	$	0

^(a)	After settlement of the derivatives and the fuel is consumed, gains or losses are passed through the fuel cost-recovery clause.
^(b)	Amounts in regulatory assets and liabilities related to terminated hedges are reclassified to earnings as the interest expense is recorded. The hedges will be amortized to interest expense over the term of the related debt.
^(c)	Amounts are recorded in regulatory assets and liabilities in the Balance Sheets until derivatives are settled.

				Progress Energy				PEC				PEF
				Nine months ended September 30
(in millions)				2012	2011			2012	2011			2012	2011
Location of pre-tax gains and (losses) recognized in earnings
	Commodity contracts
		Regulated electric revenue	$	(9)	$	0	$	(9)	$	0	$	0	$	0
		Fuel used in electric generation and purchased power^(a)		(395)		(219)		(100)		(42)		(295)		(177)
	Interest rate contracts
		Interest expense^(b)		(4)		0		(3)		0		(1)		0
Total pre-tax gains (losses) recognized in earnings			$	(408)	$	(219)	$	(112)	$	(42)	$	(296)	$	(177)
Location of pre-tax gains and (losses) recognized as regulatory assets or liabilities
	Commodity contracts^(c)
		Regulatory asset	$	(108)	$	(201)	$	(34)	$	(55)	$	(74)	$	(146)
	Interest rate contracts^(b)
		Regulatory asset		2		0		2		0		0		0
Total pre-tax gains (losses) recognized as regulatory assets or liabilities			$	(106)	$	(201)	$	(32)	$	(55)	$	(74)	$	(146)
Location of pre-tax gains and (losses) recognized in income on derivatives
	Commodity contracts
		Regulated electric revenue	$	2	$	1	$	2	$	1	$	0	$	0
	Fair value loss transition adjustment
		Regulated electric revenue		1		1		1		1		0		0
	CVOs
		Other income and expenses, net		7		(59)		0		0		0		0
Total pre-tax gains (losses) recognized in income on derivatives			$	10	$	(57)	$	3	$	2	$	0	$	0

^(a)	After settlement of the derivatives and the fuel is consumed, gains or losses are passed through the fuel cost-recovery clause.
^(b)	Amounts in regulatory assets and liabilities related to terminated hedges are reclassified to earnings as the interest expense is recorded. The hedges will be amortized to interest expense over the term of the related debt.
^(c)	Amounts are recorded in regulatory assets and liabilities in the Balance Sheets until derivatives are settled.

Information regarding derivative instruments that contain credit risk related contingent features

Information Regarding Derivative Instruments that Contain Credit-Risk-Related Contingent Features
	Progress Energy		PEC		PEF
(in millions)		September 30, 2012
Aggregate fair value amounts of derivative instruments in a net liability position	$	325	$	118	$	207
Collateral already posted		74		13		61
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period		251		105		146

(in millions)		December 31, 2011
Aggregate fair value amounts of derivative instruments in a net liability position	$	489	$	152	$	337
Collateral already posted		147		24		123
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period		342		128		214

Information regarding cash collateral under master netting arrangements

Information Regarding Cash Collateral under Master Netting Arrangements
		Progress Energy				PEC				PEF
	September 30, 2012
(in millions)	Receivables		Payables		Receivables		Payables		Receivables		Payables
Amounts offset against net derivative positions	$	73	$	0	$	13	$	0	$	60	$	0
Amounts not offset against net derivative positions		1		0		0		0		1		0

(in millions)	Receivables		Payables		Receivables		Payables		Receivables		Payables
Amounts offset against net derivative positions	$	140	$	0	$	23	$	0	$	117	$	0
Amounts not offset against net derivative positions		3		0		0		0		3		0

PEC [Member]

Risk Management Activities And Derivative Transactions Disclosure [Line Items]

Notional amounts of derivative instruments related to interest rate risk

Notional Amounts of Derivative Instruments Related to Interest Rate
		Progress Energy		PEC		PEF
(in millions)		September 30, 2012
Undesignated contracts	$	100	$	50	$	50

(in millions)		December 31, 2011
Cash flow hedges	$	500	$	250	$	50

Underlying notional amounts for commodity derivative instruments accounted for at fair value

Underlying Notional Amounts for Commodity Derivative Instruments Accounted for At Fair Value
		Progress Energy	PEC	PEF
		September 30, 2012
Commodity contracts
	Electricity-energy (Gigawatt-hours)^(a)	1,850	1,850	0
	Electricity-capacity (Gigawatt-months)^(a)	5	5	0
	Natural gas (millions of decatherms)	297	89	208
	Fuel oil (millions of gallons)	6	0	6

		December 31, 2011
Commodity contracts
	Natural gas (millions of decatherms)	347	103	244
	Fuel oil (millions of gallons)	10	0	10

Location and fair value amounts of derivatives reflected in the unaudited condensed balance sheets

Location and Fair Value of Derivatives Reflected in the Balance Sheets
				Progress Energy				PEC				PEF
Instrument / Balance Sheet location				September 30, 2012
(in millions)			Asset		Liability		Asset		Liability		Asset		Liability
Derivatives designated as hedging instruments
Commodity contracts
	Derivative liabilities, current				$	1			$	-			$	1
		Total derivatives designated as hedging instruments				1				0				1

Derivatives not designated as hedging instruments
Commodity contracts^(a)
	Investments and other assets: other		$	1		0	$	0		0	$	1		0
	Derivative liabilities, current			8		220		3		74		5		146
	Deferred credits and other liabilities: other			14		209		2		74		12		135
Interest rate contracts^(a)
	Derivative liabilities, current					23				11				12
CVOs^(b)
	Deferred credits and other liabilities: other					4				0				0
		Total derivatives not designated as hedging instruments		23		456		5		159		18		293
		Total derivatives	$	23	$	457	$	5	$	159	$	18	$	294

^(a)	Substantially all of these contracts receive regulatory treatment.
^(b)	As discussed in Note 16 in the 2011 Form 10-K, the Parent issued 98.6 million Contingent Value Obligations (CVOs) in connection with the acquisition of Florida Progress Corporation (Florida Progress) during 2000. Through a negotiated settlement agreement and subsequent tender offer between October 2011 and February 2012, we repurchased and continue to hold 83.4 million CVOs.

				Progress Energy				PEC				PEF
Instrument / Balance Sheet location			December 31, 2011
(in millions)			Asset		Liability		Asset		Liability		Asset		Liability
Derivatives designated as hedging instruments
Commodity contracts
	Derivative liabilities, current				$	2			$	-			$	2
	Deferred credits and other liabilities: other					1				-				1
Interest rate contracts
	Derivative liabilities, current					76				38				0
	Deferred credits and other liabilities: other					17				9				8
		Total derivatives designated as hedging instruments				96				47				11

Derivatives not designated as hedging instruments
Commodity contracts^(a)
	Derivative liabilities, current		$	5		357	$	0		91	$	5		266
	Deferred credits and other liabilities: other			0		332		0		110		0		222
CVOs^(b)
	Current liabilities: other					14				-				-
		Total derivatives not designated as hedging instruments		5		703		0		201		5		488
		Total derivatives	$	5	$	799	$	0	$	248	$	5	$	499

^(a)	Substantially all of these contracts receive regulatory treatment.
^(b)	As discussed in Note 16 in the 2011 Form 10-K, the Parent issued 98.6 million CVOs in connection with the acquisition of Florida Progress during 2000. In 2011, we repurchased and continue to hold 80.1 million CVOs in a negotiated settlement agreement and subsequent tender offer.

Cash flow hedges - location and amount of pretax gains and losses in comprehensive income or income

Cash Flow Hedges - Location and Amount of Pre-Tax Gains and (Losses) Recognized in Comprehensive Income
				Progress Energy				PEC				PEF
			Three months ended September 30
(in millions)			2012		2011		2012		2011		2012		2011
Pre-tax gains (losses) recognized in OCI^(a)
	Commodity contracts		$	1	$	(1)	$	0	$	0	$	1	$	(1)
	Interest rate contracts^(b)			0		(111)		0		(58)		0		(27)
Total pre-tax gains (losses) recognized in OCI			$	1	$	(112)	$	0	$	(58)	$	1	$	(28)
Location of pre-tax gains (losses) reclassified from OCI into income^(a)
	Interest rate contracts^(b)
		Interest expense	$	(2)	$	(3)	$	0	$	(2)	$	0	$	0
Total pre-tax gains (losses) reclassified from OCI into income			$	(2)	$	(3)	$	0	$	(2)	$	0	$	0
Location of pre-tax gains (losses) recognized in income on derivatives^(c)
	Interest rate contracts^(b)
		Interest expense	$	0	$	(1)	$	0	$	(1)	$	0	$	0
Total pre-tax gains (losses) recognized in income on derivatives			$	0	$	(1)	$	0	$	(1)	$	0	$	0

^(a)	Effective portion.
^(b)	Amounts in AOCI related to terminated hedges are reclassified to earnings as the interest expense is recorded. The effective portion of the hedges will be amortized to interest expense over the term of the related debt.
^(c)	Related to ineffective portion and amount excluded from effectiveness testing.

				Progress Energy				PEC				PEF
			Nine months ended September 30
(in millions)			2012		2011		2012		2011		2012		2011
Pre-tax gains (losses) recognized in OCI^(a)
	Commodity contracts		$	1	$	(1)	$	0	$	0	$	1	$	(1)
	Interest rate contracts^(b)			(11)		(134)		(7)		(67)		(2)		(35)
Total pre-tax gains (losses) recognized in OCI			$	(10)	$	(135)	$	(7)	$	(67)	$	(1)	$	(36)
Location of pre-tax gains (losses) reclassified from OCI into income^(a)
	Interest rate contracts^(b)
		Interest expense	$	(12)	$	(9)	$	(5)	$	(5)	$	(2)	$	0
Total pre-tax gains (losses) reclassified from OCI into income			$	(12)	$	(9)	$	(5)	$	(5)	$	(2)	$	0
Location of pre-tax gains (losses) recognized in income on derivatives^(c)
	Interest rate contracts^(b)
		Interest expense	$	0	$	(3)	$	0	$	(1)	$	0	$	0
Total pre-tax gains (losses) recognized in income on derivatives			$	0	$	(3)	$	0	$	(1)	$	0	$	0

^(a)	Effective portion.
^(b)	Amounts in AOCI related to terminated hedges are reclassified to earnings as the interest expense is recorded. The effective portion of the hedges will be amortized to interest expense over the term of the related debt.
^(c)	Related to ineffective portion and amount excluded from effectiveness testing.

Undesignated contracts - location and amount of pretax gains and losses recognized in income as regulatory assets or liabilities

Undesignated Contracts - Location and Amount of Pre-Tax Gains and (Losses) Recognized in Income or as Regulatory Assets or Liabilities
				Progress Energy				PEC				PEF
				Three months ended September 30
(in millions)				2012	2011			2012	2011			2012	2011
Location of pre-tax gains and (losses) recognized in earnings
	Commodity contracts
		Regulated electric revenue	$	(9)	$	0	$	(9)	$	0	$	0	$	0
		Fuel used in electric generation and purchased power^(a)		(135)		(91)		(35)		(20)		(100)		(71)
	Interest rate contracts
		Interest expense^(b)		(4)		0		(3)		0		(1)		0
Total pre-tax gains (losses) recognized in earnings			$	(148)	$	(91)	$	(47)	$	(20)	$	(101)	$	(71)
Location of pre-tax gains and (losses) recognized as regulatory assets or liabilities
	Commodity contracts^(c)
		Regulatory asset	$	60	$	(157)	$	15	$	(42)	$	45	$	(115)
	Interest rate contracts^(b)
		Regulatory asset		2		0		2		0		0		0
Total pre-tax gains (losses) recognized as regulatory assets or liabilities			$	62	$	(157)	$	17	$	(42)	$	45	$	(115)
Location of pre-tax gains and (losses) recognized in income on derivatives
	Fair value loss transition adjustment
		Regulated electric revenue	$	0	$	1	$	0	$	1	$	0	$	0
	CVOs
		Other income and expenses, net		(1)		(63)		0		0		0		0
Total pre-tax gains (losses) recognized in income on derivatives			$	(1)	$	(62)	$	0	$	1	$	0	$	0

^(a)	After settlement of the derivatives and the fuel is consumed, gains or losses are passed through the fuel cost-recovery clause.
^(b)	Amounts in regulatory assets and liabilities related to terminated hedges are reclassified to earnings as the interest expense is recorded. The hedges will be amortized to interest expense over the term of the related debt.
^(c)	Amounts are recorded in regulatory assets and liabilities in the Balance Sheets until derivatives are settled.

				Progress Energy				PEC				PEF
				Nine months ended September 30
(in millions)				2012	2011			2012	2011			2012	2011
Location of pre-tax gains and (losses) recognized in earnings
	Commodity contracts
		Regulated electric revenue	$	(9)	$	0	$	(9)	$	0	$	0	$	0
		Fuel used in electric generation and purchased power^(a)		(395)		(219)		(100)		(42)		(295)		(177)
	Interest rate contracts
		Interest expense^(b)		(4)		0		(3)		0		(1)		0
Total pre-tax gains (losses) recognized in earnings			$	(408)	$	(219)	$	(112)	$	(42)	$	(296)	$	(177)
Location of pre-tax gains and (losses) recognized as regulatory assets or liabilities
	Commodity contracts^(c)
		Regulatory asset	$	(108)	$	(201)	$	(34)	$	(55)	$	(74)	$	(146)
	Interest rate contracts^(b)
		Regulatory asset		2		0		2		0		0		0
Total pre-tax gains (losses) recognized as regulatory assets or liabilities			$	(106)	$	(201)	$	(32)	$	(55)	$	(74)	$	(146)
Location of pre-tax gains and (losses) recognized in income on derivatives
	Commodity contracts
		Regulated electric revenue	$	2	$	1	$	2	$	1	$	0	$	0
	Fair value loss transition adjustment
		Regulated electric revenue		1		1		1		1		0		0
	CVOs
		Other income and expenses, net		7		(59)		0		0		0		0
Total pre-tax gains (losses) recognized in income on derivatives			$	10	$	(57)	$	3	$	2	$	0	$	0

^(a)	After settlement of the derivatives and the fuel is consumed, gains or losses are passed through the fuel cost-recovery clause.
^(b)	Amounts in regulatory assets and liabilities related to terminated hedges are reclassified to earnings as the interest expense is recorded. The hedges will be amortized to interest expense over the term of the related debt.
^(c)	Amounts are recorded in regulatory assets and liabilities in the Balance Sheets until derivatives are settled.

Information regarding derivative instruments that contain credit risk related contingent features

Information Regarding Derivative Instruments that Contain Credit-Risk-Related Contingent Features
	Progress Energy		PEC		PEF
(in millions)		September 30, 2012
Aggregate fair value amounts of derivative instruments in a net liability position	$	325	$	118	$	207
Collateral already posted		74		13		61
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period		251		105		146

(in millions)		December 31, 2011
Aggregate fair value amounts of derivative instruments in a net liability position	$	489	$	152	$	337
Collateral already posted		147		24		123
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period		342		128		214

Information regarding cash collateral under master netting arrangements

Information Regarding Cash Collateral under Master Netting Arrangements
		Progress Energy				PEC				PEF
	September 30, 2012
(in millions)	Receivables		Payables		Receivables		Payables		Receivables		Payables
Amounts offset against net derivative positions	$	73	$	0	$	13	$	0	$	60	$	0
Amounts not offset against net derivative positions		1		0		0		0		1		0

(in millions)	Receivables		Payables		Receivables		Payables		Receivables		Payables
Amounts offset against net derivative positions	$	140	$	0	$	23	$	0	$	117	$	0
Amounts not offset against net derivative positions		3		0		0		0		3		0

PEF [Member]

Risk Management Activities And Derivative Transactions Disclosure [Line Items]

Notional amounts of derivative instruments related to interest rate risk

Notional Amounts of Derivative Instruments Related to Interest Rate
		Progress Energy		PEC		PEF
(in millions)		September 30, 2012
Undesignated contracts	$	100	$	50	$	50

(in millions)		December 31, 2011
Cash flow hedges	$	500	$	250	$	50

Underlying notional amounts for commodity derivative instruments accounted for at fair value

Underlying Notional Amounts for Commodity Derivative Instruments Accounted for At Fair Value
		Progress Energy	PEC	PEF
		September 30, 2012
Commodity contracts
	Electricity-energy (Gigawatt-hours)^(a)	1,850	1,850	0
	Electricity-capacity (Gigawatt-months)^(a)	5	5	0
	Natural gas (millions of decatherms)	297	89	208
	Fuel oil (millions of gallons)	6	0	6

		December 31, 2011
Commodity contracts
	Natural gas (millions of decatherms)	347	103	244
	Fuel oil (millions of gallons)	10	0	10

Location and fair value amounts of derivatives reflected in the unaudited condensed balance sheets

Location and Fair Value of Derivatives Reflected in the Balance Sheets
				Progress Energy				PEC				PEF
Instrument / Balance Sheet location				September 30, 2012
(in millions)			Asset		Liability		Asset		Liability		Asset		Liability
Derivatives designated as hedging instruments
Commodity contracts
	Derivative liabilities, current				$	1			$	-			$	1
		Total derivatives designated as hedging instruments				1				0				1

Derivatives not designated as hedging instruments
Commodity contracts^(a)
	Investments and other assets: other		$	1		0	$	0		0	$	1		0
	Derivative liabilities, current			8		220		3		74		5		146
	Deferred credits and other liabilities: other			14		209		2		74		12		135
Interest rate contracts^(a)
	Derivative liabilities, current					23				11				12
CVOs^(b)
	Deferred credits and other liabilities: other					4				0				0
		Total derivatives not designated as hedging instruments		23		456		5		159		18		293
		Total derivatives	$	23	$	457	$	5	$	159	$	18	$	294

^(a)	Substantially all of these contracts receive regulatory treatment.
^(b)	As discussed in Note 16 in the 2011 Form 10-K, the Parent issued 98.6 million Contingent Value Obligations (CVOs) in connection with the acquisition of Florida Progress Corporation (Florida Progress) during 2000. Through a negotiated settlement agreement and subsequent tender offer between October 2011 and February 2012, we repurchased and continue to hold 83.4 million CVOs.

				Progress Energy				PEC				PEF
Instrument / Balance Sheet location			December 31, 2011
(in millions)			Asset		Liability		Asset		Liability		Asset		Liability
Derivatives designated as hedging instruments
Commodity contracts
	Derivative liabilities, current				$	2			$	-			$	2
	Deferred credits and other liabilities: other					1				-				1
Interest rate contracts
	Derivative liabilities, current					76				38				0
	Deferred credits and other liabilities: other					17				9				8
		Total derivatives designated as hedging instruments				96				47				11

Derivatives not designated as hedging instruments
Commodity contracts^(a)
	Derivative liabilities, current		$	5		357	$	0		91	$	5		266
	Deferred credits and other liabilities: other			0		332		0		110		0		222
CVOs^(b)
	Current liabilities: other					14				-				-
		Total derivatives not designated as hedging instruments		5		703		0		201		5		488
		Total derivatives	$	5	$	799	$	0	$	248	$	5	$	499

^(a)	Substantially all of these contracts receive regulatory treatment.
^(b)	As discussed in Note 16 in the 2011 Form 10-K, the Parent issued 98.6 million CVOs in connection with the acquisition of Florida Progress during 2000. In 2011, we repurchased and continue to hold 80.1 million CVOs in a negotiated settlement agreement and subsequent tender offer.

Cash flow hedges - location and amount of pretax gains and losses in comprehensive income or income

Cash Flow Hedges - Location and Amount of Pre-Tax Gains and (Losses) Recognized in Comprehensive Income
				Progress Energy				PEC				PEF
			Three months ended September 30
(in millions)			2012		2011		2012		2011		2012		2011
Pre-tax gains (losses) recognized in OCI^(a)
	Commodity contracts		$	1	$	(1)	$	0	$	0	$	1	$	(1)
	Interest rate contracts^(b)			0		(111)		0		(58)		0		(27)
Total pre-tax gains (losses) recognized in OCI			$	1	$	(112)	$	0	$	(58)	$	1	$	(28)
Location of pre-tax gains (losses) reclassified from OCI into income^(a)
	Interest rate contracts^(b)
		Interest expense	$	(2)	$	(3)	$	0	$	(2)	$	0	$	0
Total pre-tax gains (losses) reclassified from OCI into income			$	(2)	$	(3)	$	0	$	(2)	$	0	$	0
Location of pre-tax gains (losses) recognized in income on derivatives^(c)
	Interest rate contracts^(b)
		Interest expense	$	0	$	(1)	$	0	$	(1)	$	0	$	0
Total pre-tax gains (losses) recognized in income on derivatives			$	0	$	(1)	$	0	$	(1)	$	0	$	0

^(a)	Effective portion.
^(b)	Amounts in AOCI related to terminated hedges are reclassified to earnings as the interest expense is recorded. The effective portion of the hedges will be amortized to interest expense over the term of the related debt.
^(c)	Related to ineffective portion and amount excluded from effectiveness testing.

				Progress Energy				PEC				PEF
			Nine months ended September 30
(in millions)			2012		2011		2012		2011		2012		2011
Pre-tax gains (losses) recognized in OCI^(a)
	Commodity contracts		$	1	$	(1)	$	0	$	0	$	1	$	(1)
	Interest rate contracts^(b)			(11)		(134)		(7)		(67)		(2)		(35)
Total pre-tax gains (losses) recognized in OCI			$	(10)	$	(135)	$	(7)	$	(67)	$	(1)	$	(36)
Location of pre-tax gains (losses) reclassified from OCI into income^(a)
	Interest rate contracts^(b)
		Interest expense	$	(12)	$	(9)	$	(5)	$	(5)	$	(2)	$	0
Total pre-tax gains (losses) reclassified from OCI into income			$	(12)	$	(9)	$	(5)	$	(5)	$	(2)	$	0
Location of pre-tax gains (losses) recognized in income on derivatives^(c)
	Interest rate contracts^(b)
		Interest expense	$	0	$	(3)	$	0	$	(1)	$	0	$	0
Total pre-tax gains (losses) recognized in income on derivatives			$	0	$	(3)	$	0	$	(1)	$	0	$	0

^(a)	Effective portion.
^(b)	Amounts in AOCI related to terminated hedges are reclassified to earnings as the interest expense is recorded. The effective portion of the hedges will be amortized to interest expense over the term of the related debt.
^(c)	Related to ineffective portion and amount excluded from effectiveness testing.

Undesignated contracts - location and amount of pretax gains and losses recognized in income as regulatory assets or liabilities

Undesignated Contracts - Location and Amount of Pre-Tax Gains and (Losses) Recognized in Income or as Regulatory Assets or Liabilities
				Progress Energy				PEC				PEF
				Three months ended September 30
(in millions)				2012	2011			2012	2011			2012	2011
Location of pre-tax gains and (losses) recognized in earnings
	Commodity contracts
		Regulated electric revenue	$	(9)	$	0	$	(9)	$	0	$	0	$	0
		Fuel used in electric generation and purchased power^(a)		(135)		(91)		(35)		(20)		(100)		(71)
	Interest rate contracts
		Interest expense^(b)		(4)		0		(3)		0		(1)		0
Total pre-tax gains (losses) recognized in earnings			$	(148)	$	(91)	$	(47)	$	(20)	$	(101)	$	(71)
Location of pre-tax gains and (losses) recognized as regulatory assets or liabilities
	Commodity contracts^(c)
		Regulatory asset	$	60	$	(157)	$	15	$	(42)	$	45	$	(115)
	Interest rate contracts^(b)
		Regulatory asset		2		0		2		0		0		0
Total pre-tax gains (losses) recognized as regulatory assets or liabilities			$	62	$	(157)	$	17	$	(42)	$	45	$	(115)
Location of pre-tax gains and (losses) recognized in income on derivatives
	Fair value loss transition adjustment
		Regulated electric revenue	$	0	$	1	$	0	$	1	$	0	$	0
	CVOs
		Other income and expenses, net		(1)		(63)		0		0		0		0
Total pre-tax gains (losses) recognized in income on derivatives			$	(1)	$	(62)	$	0	$	1	$	0	$	0

^(a)	After settlement of the derivatives and the fuel is consumed, gains or losses are passed through the fuel cost-recovery clause.
^(b)	Amounts in regulatory assets and liabilities related to terminated hedges are reclassified to earnings as the interest expense is recorded. The hedges will be amortized to interest expense over the term of the related debt.
^(c)	Amounts are recorded in regulatory assets and liabilities in the Balance Sheets until derivatives are settled.

				Progress Energy				PEC				PEF
				Nine months ended September 30
(in millions)				2012	2011			2012	2011			2012	2011
Location of pre-tax gains and (losses) recognized in earnings
	Commodity contracts
		Regulated electric revenue	$	(9)	$	0	$	(9)	$	0	$	0	$	0
		Fuel used in electric generation and purchased power^(a)		(395)		(219)		(100)		(42)		(295)		(177)
	Interest rate contracts
		Interest expense^(b)		(4)		0		(3)		0		(1)		0
Total pre-tax gains (losses) recognized in earnings			$	(408)	$	(219)	$	(112)	$	(42)	$	(296)	$	(177)
Location of pre-tax gains and (losses) recognized as regulatory assets or liabilities
	Commodity contracts^(c)
		Regulatory asset	$	(108)	$	(201)	$	(34)	$	(55)	$	(74)	$	(146)
	Interest rate contracts^(b)
		Regulatory asset		2		0		2		0		0		0
Total pre-tax gains (losses) recognized as regulatory assets or liabilities			$	(106)	$	(201)	$	(32)	$	(55)	$	(74)	$	(146)
Location of pre-tax gains and (losses) recognized in income on derivatives
	Commodity contracts
		Regulated electric revenue	$	2	$	1	$	2	$	1	$	0	$	0
	Fair value loss transition adjustment
		Regulated electric revenue		1		1		1		1		0		0
	CVOs
		Other income and expenses, net		7		(59)		0		0		0		0
Total pre-tax gains (losses) recognized in income on derivatives			$	10	$	(57)	$	3	$	2	$	0	$	0

^(a)	After settlement of the derivatives and the fuel is consumed, gains or losses are passed through the fuel cost-recovery clause.
^(b)	Amounts in regulatory assets and liabilities related to terminated hedges are reclassified to earnings as the interest expense is recorded. The hedges will be amortized to interest expense over the term of the related debt.
^(c)	Amounts are recorded in regulatory assets and liabilities in the Balance Sheets until derivatives are settled.

Information regarding derivative instruments that contain credit risk related contingent features

Information Regarding Derivative Instruments that Contain Credit-Risk-Related Contingent Features
	Progress Energy		PEC		PEF
(in millions)		September 30, 2012
Aggregate fair value amounts of derivative instruments in a net liability position	$	325	$	118	$	207
Collateral already posted		74		13		61
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period		251		105		146

(in millions)		December 31, 2011
Aggregate fair value amounts of derivative instruments in a net liability position	$	489	$	152	$	337
Collateral already posted		147		24		123
Additional cash collateral or letters of credit in the event credit-risk-related contingent features were triggered at the end of the reporting period		342		128		214

Information regarding cash collateral under master netting arrangements

Information Regarding Cash Collateral under Master Netting Arrangements
		Progress Energy				PEC				PEF
	September 30, 2012
(in millions)	Receivables		Payables		Receivables		Payables		Receivables		Payables
Amounts offset against net derivative positions	$	73	$	0	$	13	$	0	$	60	$	0
Amounts not offset against net derivative positions		1		0		0		0		1		0

(in millions)	Receivables		Payables		Receivables		Payables		Receivables		Payables
Amounts offset against net derivative positions	$	140	$	0	$	23	$	0	$	117	$	0
Amounts not offset against net derivative positions		3		0		0		0		3		0

- Definition

Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges.

+ References+ Details

- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References+ Details

- Definition

Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

+ References

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+ Details