November 7, 2008

Duke Energy to Lower Capital Spending By $200 Million After Posting 65% Drop in 3Q Profit, an Industrial Info News Alert

Researched by Industrial Info Resources (Sugar Land, Texas) -- Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) has announced a 65% drop in third-quarter profit to $215 million compared with $607 million in the same period last year. Chairman, President and CEO Jim Rogers said the company attributes the decline to milder temperatures and storm-related costs. Industrial Info is tracking 71 Duke Energy projects worth approximately $29.34 billion as part of the Power Tracker database. Two of the largest projects are unit additions at the Edwardsport Generating Station in Indiana worth $2.35 billion and the Cliffside Steam Station in North Carolina worth $2.4 billion. Duke Energy continues to make progress on the two plants, Rogers said.

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SOURCE: Industrial Info Resources