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North Carolina Utilities Commission Approves One Cliffside Unit February 28, 2007

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CHARLOTTE, N.C. -

The North Carolina Utilities Commission approved a Certificate of Public Convenience and Necessity (CPCN) for Duke Energy Carolinas  to build one of two proposed new state-of-the-art coal units at the Cliffside Steam Station west of Charlotte.

In a brief "Notice of Decision," the commission ruled that Duke Energy Carolinas had carried its burden of proof for one unit. A more detailed order is expected from the Commission in the coming weeks.

"We appreciate the Commission's timely consideration of this matter," said Ellen T. Ruff, president of Duke Energy Carolinas. "This is one of several significant milestones for the project.  We still need to receive timely approval of the air permit.  Additionally, our decision will not be made until we have seen the final cost estimates.  Our initial estimates were based on two units, and the Commission only authorized one unit. "

Duke Energy Chairman, President and Chief Executive Officer James E. Rogers said, "We will review the complete order once it is issued. We're not making a decision until we see the final overall cost estimate for the project as well as the conditions on the environmental permit.  It is only prudent for us to make a decision after all these key facts have been reviewed and validated."

Rogers added, "We are pleased that the Commission accepted our commitment to invest 1 percent of revenues each year in the Carolinas for energy efficiency subject to appropriate regulatory treatment and our plan to retire older, less efficient units."

Duke Energy Carolinas relies on a diverse energy portfolio with resources that include coal, natural gas, nuclear, renewable energy and energy efficiency. 

Energy demand in the region is growing at a rapid pace with Duke Energy Carolinas adding 40,000 to 60,000 new customers every year. The company forecasts the need for an additional 2,120 megawatts of new capacity in 2011 and 6,120 megawatts by 2021.

Duke Energy Corp., one of the largest electric power companies in the United States, supplies and delivers energy to approximately 3.9 million U.S. customers. The company has nearly 37,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.

Duke Energy's Carolinas operations include nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides nearly 21,000 megawatts of safe, reliable and competitively priced electricity to more than 2.2 million electric customers in a 22,000-square-mile service area of North Carolina and South Carolina.

Headquartered in Charlotte, N.C., Duke Energy 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: http://www.duke-energy.com/.


Contact: Paige Sheehan
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