News Release
Oct. 28, 2002

DUKE ENERGY RECEIVES FERC DATA REQUEST

CHARLOTTE, N.C. -- Duke Energy today announced that it is one of a number of companies to have received a data request from the Federal Energy Regulatory Commission (FERC) regarding pricing information provided to publications.

 

The FERC request, addressed to the “Largest North American Gas Marketers, As Measured by 2001 Physical Sales Volume (Bcf/d),” was received by the company on Friday, Oct. 25, 2002. It is an extension of FERC's existing review of energy trading. Duke Energy will fully respond to the request.

 

Duke Energy began a review of its historical survey publication data after another market participant announced in September that certain of its employees had provided inaccurate pricing data to publications. The company briefly suspended reporting of pricing data until steps to formalize its processes were put in place. Duke Energy's processes now require that all data provided to publications is validated and conveyed by risk management staff reporting to the company’s chief risk officer.

 

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 500 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: Peter Sheffield
Phone: 704/373-4503
24 Hour Phone: 704/382-8333
Email: pvsheffield@duke-energy.com