News Release
July 06, 1998

DUKE POWER ANNOUNCES OCONEE NUCLEAR STATION APPLICATION FOR LICENSE RENEWAL

CHARLOTTE, N.C. -- Duke Power today submitted its application for the renewal of the Oconee Nuclear Station’s operating license.

"This is a significant day for Duke Power and for the nuclear industry," said Mike Tuckman, Duke Power executive vice president, nuclear generation. "We have been working towards this day for nearly 25 years."

"As the nation’s leader in commercial nuclear generation of electricity, Oconee is of tremendous value to our customers and to the company. We are confident in the station’s ability to operate safely and reliably well into the 21st century," Tuckman continued.

Oconee Nuclear is a three unit, pressurized water reactor station located in Seneca, S.C., that began operation in 1973 and 1974. The Nuclear Regulatory Commission granted the original 40-year operating license in 1973.

The license renewal process beginning with a submittal for license extension, could take as many as three to five years to complete. Throughout the process, the applicant and the NRC will maintain open dialogue as information about the station and its operating history is prepared and reviewed.

Duke Power will hold an audioconference today at 1 p.m. eastern with executive vice president Mike Tuckman. To participate, reporters should call (888) 889-6558. The password for the conference is "nuclear." Reporters should call in a few minutes beforehand to avoid a delay in getting connected. The call can be heard on a delayed basis. Call Guynn Savage at (704) 382-8350 for the number.

Oconee Nuclear Station is a three-unit power plant located on Lake Keowee, in Seneca, S.C. Each of its units can generate electricity at the rate of 847 megawatts. Oconee unit 1 began commercial operation in 1973; units 2 and 3 in 1974.

Duke Power is a business unit of Duke Energy Corporation (NYSE:DUK). Duke Energy is a global energy company with more than $24 billion in assets. Duke Energy companies provide electric service to approximately 2 million customers; operate pipelines that deliver 12 percent of the natural gas consumed in the United States; and are leading marketers of electricity, natural gas and natural gas liquids. Globally the companies develop, own and operate energy facilities and provide engineering, management, operating and environmental services. Contact Duke Energy on the World Wide Web at http://www.duke-energy.com.

Contact: Guynn Savage
Phone: (704)382-8350
24 Hour Phone: (704) 382-8333
Email: ghsavage@duke-energy.com