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News Release June 05, 2002 |
DUKE ENERGY REPORTS NO 'WASH' NATURAL GAS TRANSACTIONS
Out of the more than 30,000 transactions, the company identified only three transactions that occurred simultaneously by prearrangement with the same counterparty for the same amount of natural gas at the same price. These transactions were done at the request of a counterparty and none were entered into by Duke Energy to boost Duke Energy’s revenues, volumes or prices. These three transactions represented a tiny fraction of the British thermal unit volume of Duke Energy’s natural gas transactions during that period in the western “The de minimis number of such transactions belies any intent or practice to inflate reported revenues, trading volumes or prices,” Duke Energy said in its filing. The data being reported to FERC today is focused only on simultaneous natural gas transactions in the western 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
Duke Energy’s affidavit is in response to a May 22 inquiry by FERC to approximately 150 participants in the western
| Contact: | Terry Francisco | |
| Phone: | 704/373-6680 | |
| 24 Hour Phone: | 704/382-8333 | |
| Email: | thfrancisco@duke-energy.com |