FLORIDA PWR4PREF Stock

Duke Energy Florida, Inc. (Duke Energy Florida) is a regulated public utility. The Company is engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. The Company manages and has a partial ownership interest in Crystal River Unit 3, which has been retired. Duke Energy Florida's service area covers approximately 20,000 square miles and supplies electric service to approximately 1.7 million residential, commercial and industrial customers. The Company is interconnected with 22 municipal and nine rural electric cooperative systems. The Company is a subsidiary of Duke Energy Corporation, an energy company that operates in the United States and Latin America primarily through its direct and indirect subsidiaries.