(RALEIGH) -- Progress Energy reported fourth quarter net income of $164 million.  That is up from $107 million during the same period of the prior year.

"In the extremely tough economy of 2009, Progress Energy aggressively managed its costs and met its financial goals while reliably and responsibly serving customers," said Bill Johnson, chairman, president and CEO. "The still-sluggish economy will make 2010 another challenging year, and the recent regulatory decision in Florida exacerbates that challenge. But we are working in a focused, constructive way to meet our short-term priorities while also creating long-term value for our customers and shareholders. I believe strongly in the ability of our employees and the future growth prospects of the communities we serve."