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Duke Energy’s Commercial Power Business Announces Appointments February 11, 2008

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CHARLOTTE, N.C. -

Duke Energy’s Commercial Power Business today announced three appointments that support its growth strategies. 

  • Wouter van Kempen, president, Duke Energy Generation Services, will assume the additional role of leading all commercial development in North America. 
  • Phil Grigsby, currently vice president, business development, will become senior vice president, Midwest generation portfolio.
  • Richard Bates, currently managing director, mergers and acquisitions, will become vice president, mergers and acquisitions.

“These appointments provide the talent and experience we need to increase efficiency and provide the leadership to meet the challenges of our commercial operations as we continue to grow and diversify,” said Lynn J. Good, group executive and president, Duke Energy Commercial Businesses.
  
van Kempen’s consolidated group will focus on opportunities for growth of existing and new North American commercial businesses, including expansion of Duke’s wind energy business and other low-carbon growth platforms.

In his new role, Grigsby will have responsibility for the commercial generation business in the Midwest and support regulatory and legislative initiatives in Ohio.

Bates has been a member of the Duke Energy mergers and acquisitions team since joining the company in June of 2000. He succeeds Paul H. Barry, who recently left the company.

Duke Energy, one of the largest electric power companies in the United States, supplies and delivers energy to approximately 4 million U.S. customers. The company has approximately 36,000 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 Commercial Power Business has approximately 8,100 megawatts of unregulated generation, primarily in the Midwest, including efficient natural gas and coal-fired plants. Substantially all of the financial results for this business are driven by sales to retail customers in Ohio under the state’s rate stabilization plan.

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: www.duke-energy.com.


Contact: Duke Energy Contact: Tom Shiel
Phone: 704.382.2355
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