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Duke Energy Declares Quarterly Dividend January 5, 2007

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CHARLOTTE, N.C. -

Duke Energy today declared a quarterly cash dividend on its common stock of $0.21 per share. The dividend is payable on March 15, 2007, to shareholders of record on the close of business Feb. 16, 2007.

The reduction in Duke Energy's dividend reflects the Jan. 2 spinoff of its natural gas businesses into a separate stand-alone company, Spectra Energy, which will pay its own dividend.

This is the 81st consecutive year that Duke Energy has paid a quarterly cash dividend on its common stock.

Duke Energy Canada Exchangeco Inc., a subsidiary of Spectra Energy as a result of the spinoff, today also announced a quarterly cash dividend on its Duke Energy exchangeable shares (TSX: DX.A) of CDN $0.25 per share. The dividend is payable on March 15, 2007, to holders of Duke Energy exchangeable shares of record on the close of business Feb. 16, 2007.

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.

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: Media Contact: Mark Craft
Phone: 704-382-7364
24-Hour Phone: 704-382-8333
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