News Release
Aug. 20, 1999


Charlotte, N.C. – DukeSolutions Inc., a Duke Energy subsidiary specializing in integrated energy services for large end-use customers, has announced a long-term, multi-million-dollar investment in one of the nation’s largest privately held hydroelectric systems and thermal generating assets.

In a deal announced today with Inexcon Maine Inc., DukeSolutions has provided an investment to Great Northern Paper Inc. (GNP), Millinocket, Maine, that will facilitate the upgrades of steam and electric power systems. DukeSolutions will provide comprehensive integrated energy services designed to reduce risk and improve operations and financial performance.

Great Northern Paper’s hydroelectric system on the Penobscot River includes six hydroelectric dams and two thermal electric plants. This system has rated electric and steam capacity of 292 megawatts and 2,400 kilopounds per hour, respectively.

"In short, DukeSolutions has a reputation for doing what it says," said Joseph Kass, chairman of Inexcon. "They were able to help structure this complex deal in a very short time, and they bring a depth of resources that is unrivaled in the energy industry. It bodes well for Great Northern Paper, its employees and the communities around these plants."

As Great Northern Paper’s partner in energy supply and risk management, DukeSolutions will provide some of the needed investments in the paper company’s energy assets in addition to energy and energy-related risk management services including productivity upgrades.

"This relationship with Inexcon highlights industry’s desire to reduce energy-related risk and to focus on investment in core production assets," said Todd W. Stancombe, DukeSolutions senior vice president, North America. "By viewing energy as an asset to be managed, rather than as a commodity to be consumed, GNP can strengthen its position in the paper industry. This business arrangement clearly demonstrates a long-term commitment to GNP and its employees."

Great Northern Paper Inc. is headquartered in Millinocket, Maine. With approximately 1,500 employees, GNP operates pulp and paper mills in both Millinocket and East Millinocket, and owns about 400,000 acres of timberlands. The two mills currently produce paper for catalogs, newsprint and telephone books.

DukeSolutions is one of the fastest growing energy services companies in North America. The company helps customers make the most of their assets and increase cash flow and earnings

through integrated energy solutions. Serving more than 2,000 industrial, commercial, institutional and governmental customers, DukeSolutions implements a full range of energy services including industrial generation, energy supply and logistics, reliability and risk management, on-site utility, information management and efficiency and productivity services. DukeSolutions is a wholly owned subsidiary of Duke Energy. For more information visit

Duke Energy (NYSE:DUK) is a global energy company with more than $29 billion in assets. Headquartered in Charlotte, N.C., the company reaches into more than 50 countries, producing energy, transporting energy, marketing energy and providing energy services. In the United States, Duke Energy companies provide electric service to approximately two million customers in North Carolina and South Carolina; operate interstate pipelines that deliver natural gas to various regions of the country; and are leading marketers of electricity, natural gas and natural gas liquids. Additional information about the company is available on the Internet at:

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