SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Mulhern Mark F (Last) (First) (Middle) 410 S. WILMINGTON STREET (Street) RALEIGH NC 27601 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol PROGRESS ENERGY INC [ PGN ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President of major subsidiary
	3. Date of Earliest Transaction (Month/Day/Year) 03/13/2007
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/13/2007		M		3,933	A	$41.97	18,733	D
Common Stock	03/13/2007		S		3,933	D	$48.55	14,800	D
Common Stock	03/13/2007		M		7,000	A	$44.75	21,800	D
Common Stock	03/13/2007		S		7,000	D	$48.45	14,800	D
Common Stock								1,383(1)	I	Employee 401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (right to buy)	$41.97	03/13/2007		M			3,933	(2)	09/30/2012	Common Stock	3,933	$0	0	D
Employee Stock Option (right to buy)	$44.75	03/13/2007		M			7,000	(3)	09/30/2013	Common Stock	7,000	$0	7,000	D
Units based on value of Common Stock	(4)							(5)	(5)	Common Stock	182		182(6)	D
Units based on value of Common Stock	(7)							(8)	(9)	Common Stock	4,206		4,206(10)	D
Units based on value of Common Stock	(11)							(8)	(12)	Common Stock	16,914		16,914(13)	D

Explanation of Responses:

1. Includes 329 shares acquired through routine acquisitions of the Company's stock under Progress Energy's 401(k) Plan between April 2006 and February 2007.

2. The options vested in three equal installments on October 1, 2003, 2004, and 2005.

3. The options vested in three equal installments on October 1, 2004, 2005, and 2006.

4. Management Deferred Compensation Plan units are convertible at a rate of 1 for 1.

5. Units will be settled 100 percent in cash in accordance with the payment schedule selected by the reporting person on his Election Form. The reporting person may reallocate the value of the units in his Deferral Accounts among alternative investment accounts once per calendar month.

6. Includes 9 units acquired between February 2006 and February 2007 through routine dividend reinvestment transactions that are exempt under Rule 16a-11.

7. Management Incentive Compensation Plan units are convertible at a rate of 1 for 1.

8. Based upon payment schedule selected by the reporting person on his Election Form.

9. Units will be settled 100 percent in cash in accordance with schedule provided in the Plan.

10. Includes 219 units acquired between February 2006 and February 2007 through routine dividend reinvestment transactions that are exempt under Rule 16a-11.

11. Performance Share Sub Plan units are convertible at a rate of 1 for 1.

12. Units granted prior to January 1, 2005 will be settled 100 percent in cash. Units granted on or after January 1, 2005 will be settled 100 percent in Common Stock.

13. Includes 882 units acquired between April 2006 and February 2007 through routine dividend reinvestment transactions that are exempt under Rule 16a-11.

Remarks:

	Mark F. Mulhern by Arlene S. Graves pursuant to POA	03/15/2007
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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