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Last updated on April 20, 2014 at 5:20 EDT

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

November 7, 2008

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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Industrial Info Resources (IIR) is a marketing information service specializing in industrial process, energy and financial related markets with products and services ranging from industry news, analytics, forecasting, plant and project databases, as well as multimedia services. For more information send inquiries to powergroup@industrialinfo.com or visit us online at www.industrialinfo.com.

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SOURCE: Industrial Info Resources