Duke Energy Corp. to redeem $300 million in QUIPS

              Duke Energy Corp. to redeem $300 million in QUIPS

PR Newswire

CHARLOTTE, N.C., Jan. 2, 2013

CHARLOTTE, N.C., Jan. 2, 2013 /PRNewswire/ -- Duke Energy today announced that
on Feb. 1, the company will redeem a series of preferred securities, known as
QUIPS, issued by a financing trust owned by its subsidiary Progress Energy,

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

The redemption covers the entire issue of FPC Capital I 7.10 percent
Cumulative Quarterly Income Preferred Securities (NYSE: FPCPRA), with a face
value of $300 million. As the securities are being redeemed at par, security
holders will receive $25 per preferred security held, plus accrued and unpaid
distributions in the amount of $0.374722 per preferred security, payable upon
presentation on the redemption date of Feb. 1, 2013.

Call notices for this issue are being mailed today by The Bank of New York
Mellon Trust Company, N.A., as trustee.

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.

MEDIA CONTACT: Jennifer Zajac
Phone:         980-373-9242
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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