Energy Giant Duke Looks Towards Future

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Researched by Industrial Information Resources, Incorporated; Houston, Texas). Duke Energy North America (Houston, Texas), a totally owned subsidiary of Duke Energy (NYSE: DUK) (Charlotte, North Carolina), is indicating that between the need for additional capacity and old units retiring, the excess capacity currently being experienced in the market now will be gone in a couple of years and that starting in 2004 or 2005 construction will pick-up again.

Duke Energy North America currently has three (3) projects for over 2,300 megawatts (MW) under active construction, over thirteen (13) for over 9,000MW in development and has put another ten (10) projects for 8,000MW on hold. Duke is one of the leading non-regulated power companies with over 15,300MW in operation. If Duke continues with all of their plans, they will increase that capacity by 133% before 2010.

Duke Energy employs over 23,000 people worldwide and generated revenues of over $59 billion in 2001. Duke is also the largest producer of natural gas liquids (NGL), number two in gas marketing, third in power marketers, and one of the top ten power generators in the United States.