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Money-Saving Energy Efficiency Programs to be Offered to Carolinas Customers Company Racing Toward June 1 Implementation May 6, 2009

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CHARLOTTE, N.C. -

Duke Energy Carolinas is moving quickly to make energy efficiency programs available to residential and business customers in both Carolinas beginning June 1, 2009.

Today in South Carolina, the Public Service Commission approved a request by the utility to implement its portfolio of energy efficiency programs designed to help customers save money and energy. North Carolina regulators approved a similar set of programs on Feb. 26, 2009. In both states, work continues to determine the appropriate way to compensate the utility for its energy efficiency efforts.

“We are pleased to deliver these much-needed programs to our customers while we continue to work through the larger save-a-watt filing. Because of the potential bill savings, there has never been greater customer interest in participating in energy efficiency programs,” said Brett Carter, president of Duke Energy Carolinas. In addition, the environmental benefits of energy efficiency are significant since less power is produced and consumed.

Ranging from programs to assist qualified customers improve energy efficiency in their homes, to cash incentives for purchasing energy efficient equipment, Duke Energy’s 

efficiency programs are just the first steps in helping residents and businesses lower their energy bills. Other programs will enable customers to save even more by allowing the utility to manage their energy use in times of high demand.

One of the first energy efficiency programs to launch will be the company’s compact fluorescent lamp (CFL) Smart $aver® program. According to ENERGY STAR®, customers can save right away by replacing their homes’ five most frequently used incandescent bulbs with ENERGY STAR®-qualified compact fluorescent lights and save more than $65 a year.

In the Carolinas, Duke Energy has a joint initiative with Lowe's® Home Improvement to provide CFL bulbs at a 40 percent discount. Beginning on June 1, 2009, customers can print four 40-percent-off coupons from Duke Energy’s Web site by typing in the following address in their computer’s Web browser: www.duke-energy.com/CFL. The coupons are good for one package of either a Sylvania 13-watt or 23-watt three-pack of CFL bulbs. Customers simply enter their Duke Energy account number and requested information, print out the coupons and stop by their nearest North Carolina or South Carolina Lowe’s® store to purchase packs of Sylvania ENERGY STAR® CFL bulbs. The offer is valid through Aug. 9, 2009 and there is a limit of one set of four coupons per customer. Information on the proper installation and disposal of CFLs is available on the Web site as well. 

Regulatory Status in the Carolinas In its decision today, regulators in South Carolina agreed to let the utility offer programs to customers while the issue of cost recovery is resolved as part of a general rate case that will begin this summer. The cost of operating the programs will not be passed on to customers yet. Instead, the charge will be determined in the rate case and adjusted along with other customer rates Jan. 1, 2010 or later.

In North Carolina, regulators are considering a request by Duke Energy Carolinas to implement an interim energy efficiency rider (Rider EE) to begin recovering the costs associated with the conservation programs it plans to implement. If approved by the utilities commission, beginning June 1, 2009 the average residential customer in North Carolina would see their monthly bill increase by approximately 38 cents. Much like South Carolina, work continues to determine the appropriate cost recovery mechanism for the company’s energy efficiency work. With that in mind, Rider EE is subject to a true-up or refund based on the final outcome of the regulatory process.

The save-a-watt Model Historically, utilities like Duke Energy Carolinas have been rewarded for selling power – not saving it. The company’s save-a-watt proposal places a value on energy efficiency that creates an appropriate incentive for the utility to pursue energy efficiency in a much more robust manner, creating energy savings that can be sustained over time. Duke Energy Carolinas will offer and manage energy efficiency programs it believes customers will embrace. A third party will measure and verify the amount of power that is saved. The utility will be paid for the energy it helps customers save.

Duke Energy Carolinas Duke Energy Carolinas owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides approximately 19,000 megawatts of electricity capacity to approximately 2.4 million 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: www.duke-energy.com.


Contact: Paige Sheehan
Phone:
24-Hour Phone: 800-559-3853 (DUKE)
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