News Release
July 12, 2002

DUKE ENERGY WILL RESPOND TO GOVERNMENT INQUIRIES ON TRADING PRACTICES

CHARLOTTE, N.C. – Duke Energy announced that it received subpoenas late yesterday for documents related to its trading activities. 

 

Duke Energy received a subpoena from the Commodity Futures Trading Commission, which had earlier served subpoenas on other energy companies. Duke Energy also received a subpoena from the Houston office of the U.S. attorney regarding a grand jury investigation. Both subpoenas request documents and information related to trading activities, including so-called “round-trip” trading.

 

Duke Energy is fully cooperating with these investigations, as it has with other government organizations inquiring into the same issues.

 

Duke Energy is a diversified multinational energy company with an integrated network of energy assets and expertise. The company manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses – meeting the energy needs of customers throughout North America and in key markets around the world. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

 

Contact: Terry Francisco
Phone: 704/373-6680
24 Hour Phone: 704/382-8333
Email: thfrancisco@duke-energy.com