Jim Rogers announces intent to retire from Duke Energy by the end of 2013

  Jim Rogers announces intent to retire from Duke Energy by the end of 2013

PR Newswire

CHARLOTTE, N.C., Nov. 29, 2012

CHARLOTTE, N.C., Nov. 29, 2012 /PRNewswire/ --Duke Energy Chairman, President
and CEO Jim Rogers today announced his intent to retire from the company by
the end of 2013, which is consistent with the expiration of his employment

(Logo: http://photos.prnewswire.com/prnh/20040414/DUKEENERGYLOGO )

Rogers has served as a CEO in the utility industry since 1988. Over that
period, he has delivered one of the best average annual total shareholder
returns in the industry.

Rogers became president and CEO of Duke Energy following the merger between
Duke Energy and Cinergy in 2006. Before the merger, he served as Cinergy's
chairman and CEO for more than 11 years. Prior to the formation of Cinergy, he
served as chairman, president and CEO of PSI Energy from 1988 until 1994.

"It has been an honor serving as CEO for the past 24 years and working in a
dynamic industry that provides an essential service for our customers," Rogers
said. "My continuing focus for the remainder of my tenure will be on
positioning Duke Energy as a stronger, more efficient organization for many
years to come, while continuing to fully realize the significant benefits of
the merger for our customers and investors."

"I have worked closely with Jim since 2006 and have always been impressed with
his dedication to Duke Energy and its employees," said Duke Energy lead
Director Ann Maynard Gray. "He has delivered excellent results for
shareholders throughout his career, and the Board of Directors looks forward
to continuing to work with Jim to deliver benefits to our customers and

A special committee of the Duke Energy Board of Directors will oversee the
recommendation of a successor to Rogers.

About Duke Energy

Duke Energy (NYSE: DUK) is the largest electric power holding company in the
United States with more than $100 billion in total assets. Its regulated
utility operations serve approximately 7.1 million electric customers located
in six states in the Southeast and Midwest. Its commercial power and
international business segments own and 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 250 company traded
on the New York Stock Exchange under the symbol DUK. More information about
the company is available at: www.duke-energy.com.

Forward-Looking Information

This release includes forward-looking statements within the meaning of Section
27A of the Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Forward-looking statements are based on management's beliefs and
assumptions. These forward-looking statements are identified by terms and
phrases such as "anticipate," "believe," "intend," "estimate," "expect,"
"continue," "should," "could," "may," "plan," "project," "predict," "will,"
"potential," "forecast," "target," "guidance," "outlook" and similar
expressions. Forward-looking statements involve risks and uncertainties that
may cause actual results to be materially different from the results
predicted. Factors that could cause actual results to differ materially from
those indicated in any forward-looking statement include, but are not limited
to: state, federal and foreign legislative and regulatory initiatives; the
impact of compliance with material restrictions or conditions imposed by
regulators; and costs and effects of legal and administrative proceedings,
settlements, investigations and claims.

Additional risks and uncertainties are identified and discussed in Progress
Energy's and Duke Energy's reports filed with the SEC and available at the
SEC's website at www.sec.gov. In light of these risks, uncertainties and
assumptions, the events described in the forward-looking statements might not
occur or might occur to a different extent or at a different time than Duke
Energy has described. Duke Energy undertakes no obligation to publicly update
or revise any forward-looking statements, whether as a result of new
information, future events or otherwise.

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 Phone:         980-373-4743
 24-Hour:       800-559-3853
 Bob Drennan    704-382-4070

 Bill Currens   704-382-1603

SOURCE Duke Energy

Website: http://www.duke-energy.com
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