1.0.0.3 false 6060 - PREFERRED STOCK OF SUBSIDIARIES false 1 $ false false u000 Standard http://www.xbrl.org/2003/iso4217 USD iso4217 0 u001 Standard http://www.xbrl.org/2003/instance shares xbrli 0 u002 Divide http://www.xbrl.org/2003/iso4217 USD iso4217 http://www.xbrl.org/2003/instance shares xbrli 0 2 PREFERRED STOCK OF SUBSIDIARIES 0 pgn_PreferredStockOfSubsidiaries pgn false na duration string No definition available. false false false false false true false false false 1 false false 0 0 false false No definition available. false 3 PREFERRED STOCK OF SUBSIDIARIES 1 us-gaap_ScheduleOfStockByClassTextBlock us-gaap true na duration string No definition available. false false false false false false false false false 1 false false 0 0 <div><div><table cellpadding="0" cellspacing="0" id="list" width="100%" style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; FONT-SIZE: 10pt; FONT-FAMILY: times new roman"><tr valign="top"><td style="WIDTH: 31px; TEXT-ALIGN: left"><div style="TEXT-ALIGN: left"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">7.  </font></div></td> <td width="1366"><div style="MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-WEIGHT: bold; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PREFERRED STOCK OF SUBSIDIARIES</font></font></div></td></tr></table></div> <div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"> </div><div style="DISPLAY: block; MARGIN-LEFT: 0pt; TEXT-INDENT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-SIZE: 10pt; FONT-FAMILY: Times New Roman">As discussed in Note 10 in the 2008 Form 10-K, all of our preferred stock was issued by the Utilities. The preferred stock is considered temporary equity due to certain provisions that could require us to redeem the preferred stock for cash. In the event of a default by PEC or PEF equivalent to the payment of four quarterly dividends onthe preferred stock, the holders of the preferred stock are entitled to elect a majority of PEC or PEF’s respective Board of Directors until all accrued and unpaid dividends are paid. All classes of preferred stock are entitled to cumulative dividends with preference to the common stock dividends, are redeemable by vote of the Utilities’ respective Board of Directors at any time, and do not have any preemptive rights. All classes of preferred stock have a liquidation preference equal to $100 per share plus anyaccumulated unpaid dividends except for PEF’s 4.75%, $100 par value class, which does not have a liquidation preference. Each holder of PEC’s preferred stock is entitled to one vote. Each holder of PEF’s preferred stock has no right to vote except for certain circumstances regarding dividends payable on preferred stock in default or potential changes to the preferred stock’s rights and preferences.</font></div></div> 7.   PREFERRED STOCK OF SUBSIDIARIES  As discussed in Note 10 in the 2008 Form 10-K, all of our preferred stock was issued by the Utilities. The false false No definition available. No authoritative reference available. false false 1 2 false UnKnown UnKnown UnKnown false true