Progress Energy earnings up in Florida, but parent company's are down

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Progress Energy, the parent of the second largest electricity provider in the state, announced third quarter earnings of 98 cents per share down from $1.23 per share in the same period last year, reports the News Service of Florida. The company said a major driver for its drop in earnings was bad weather. Progress Energy Florida reported third quarter earnings of 68 cents per share, up from 61 cents for the same period last year. The company said lower environmental costs, lower employee benefits costs and lower workers compensation costs were helping. Retail growth and use accounted for a penny of the increase in Florida, the company said. On the negative side in Florida was cooler summer weather

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