News Release
June 07, 2002

DUKE ENERGY SIGNS SEVEN-YEAR POWER SUPPLY CONTRACT WITH GEORGIA POWER

HOUSTON -- Duke Energy business unit Duke Energy North America (DENA) has been awarded a seven-year power supply contract with Georgia Power, to commence in June 2005. As part of Georgia Power’s evaluation of future electricity demand, it has elected to purchase 620 megawatts of capacity from DENA’s 1,240-megawatt Murray Energy Facility, located in Murray County, Ga. The value of the contract was not disclosed.

 

The Murray Energy Facility consists of two combined-cycle, natural gas-fired merchant generation plants sited near the Georgia-Tennessee border, just 30 miles southeast of Chattanooga, Tenn. Georgia Power, the largest subsidiary of Southern Company with more than 1.9 million customers, will purchase the total output of one combined-cycle plant at the Murray Energy Facility.

 

“We identified a capacity need for generation beginning in 2005 due to continued growth in the demand for electricity,” said Jeff Wallace, Georgia Power’s vice president of pricing and planning. “We have reviewed the numerous bids from the request for proposals process, and Duke Energy offered a competitive proposal and geographically suitable power source that fits best with the long-term economic and reliability needs of our customers.”

 

“This contract reinforces the strength and viability of long-term power supply opportunities in the market. Georgia Power and Duke Energy are looking ahead and anticipating future energy needs to ensure high-quality, low-cost power for customers across Georgia,” said Jim Donnell, DENA president and chief executive officer.  

 

Duke Energy North America (DENA) is Duke Energy's Houston-based merchant energy company. DENA's generation portfolio currently includes approximately 8,000 megawatts in operation. Eleven plants under construction will come on line this quarter, adding 6,700 megawatts to its portfolio.

 

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 need 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: Bethany Vetters
Phone: 713/627-6301
24 Hour Phone: 704/382-8333
Email: bbvetters@duke-energy.com