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Duke Energy and IBEW 1347 Reach Tentative Agreement Before Deadline April 3, 2009

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Duke Energy Ohio and Kentucky announced that it has reached a tentative agreement with International Brotherhood of Electrical Workers (IBEW) 1347 union negotiators today. This five year contract represents over 1,000 electric transmission and distribution employees in Ohio and Kentucky.  The current contract will be extended through April 24 for purposes of education, explanation and ratification.

"Duke Energy is pleased to have reached this tentative agreement that is good for our employees, our customers and our company," said vice president of Employee & Labor Relations Jim O'Connor of Duke Energy. 

The company and union have been negotiating for several months and the contract was scheduled to expire at 11:59 p.m. tonight.

Duke Energy is the third largest electric power holding company in the United States, based on kilowatt-hour sales. Its regulated utility operations serve approximately 4 million customers located in five states North Carolina, South Carolina, Indiana, Ohio and Kentucky - representing a population of approximately 11 million people. Duke Energy's commercial power and international business segments operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.

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:

Contact: Johnna Reeder
Phone: 513-419-5760, 513-256-8411
24-Hour Phone: 704-382-8333

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