The Florida Public Service Commission will consider at its November 20, 2007, Agenda Conference, Docket No. 070653-EI, Application by Progress Energy Florida, Inc., for authority to issue and sell securities pursuant to Section 366.04, Florida Statutes, and Chapter 25-8, Florida Administrative Code. The Company seeks PSC approval pursuant to Section 366.04, Florida Statutes, to issue, sell or otherwise incur during 2008 any combination of equity securities and long-term debt securities and other long-term obligations, consisting of up to $2.0 billion of any combination of equity securities and long-term debt securities and obligations. Additionally, the Company requests authority to issue, sell or otherwise incur during 2008 and 2009 any combination of additional equity and debt securities and obligations consisting of up to $1 billion outstanding at any time of short-term debt, including commercial paper, bank loans or loans from affiliates, which amount shall be in addition to and in excess of the amount the Company is authorized to issue pursuant to Section 366.04, Florida Statutes, which permits the Company to issue short-term securities aggregating to more than five percent of the par value of the Company’s other outstanding securities.