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Duke Energy 2012 results near top of EPS guidance range

           Duke Energy 2012 results near top of EPS guidance range

- Company achieves adjusted diluted earnings per share (EPS) of $4.32 in 2012,
compared to $4.38 in 2011; reported diluted EPS $3.07 for 2012, compared to
$3.83 in 2011

- Fourth quarter 2012 adjusted diluted EPS of 70 cents, compared with 71 cents
for the fourth quarter 2011; fourth quarter 2012 reported diluted EPS of 62
cents, compared to 65 cents in 2011

- Company will provide updates on its businesses, report on regulatory
initiatives, and offer a financial and business outlook for 2013 and beyond
during Feb. 28 analyst meeting

PR Newswire

CHARLOTTE, N.C., Feb. 13, 2013

CHARLOTTE, N.C., Feb. 13, 2013 /PRNewswire/ --Duke Energy (NYSE: DUK) today
posted 2012 full-year adjusted diluted EPS of $4.32, which was near the top of
its adjusted diluted EPS guidance range of $4.20 to $4.35.

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

For 2012, adjusted EPS reflected the addition of earnings from Progress
Energy, net of the impact of shares issued in connection with the merger, the
impact of the new market-based Electric Security Plan (ESP) in Ohio, and
unfavorable weather. These were partially offset by revised customer rates at
Duke Energy Carolinas.

Duke Energy's full-year reported diluted EPS was $3.07 for 2012, compared to
$3.83 in 2011.

Fourth quarter 2012 adjusted diluted EPS was 70 cents, compared to 71 cents
for fourth quarter 2011. Fourth quarter 2012 reported diluted EPS was 62
cents, compared to 65 cents for fourth quarter 2011.

"For Duke Energy, 2012 was a year of unprecedented accomplishment, highlighted
by the merger with Progress Energy that has already begun providing savings
for our customers," said Jim Rogers, chairman, president and chief executive
officer. "We also made significant progress with our fleet modernization
program by bringing online three major new power plants in North Carolina,
enabling us to retire older, less efficient coal-fired units."

"I am especially pleased with the outstanding performance and resilience of
our employees," he added. "During a year of change and uncertainty, they
maintained their focus and strong commitment. The nuclear fleet maintained a
capacity factor greater than 90 percent, excluding Crystal River 3, for the
13^th consecutive year and the company achieved its best safety record ever.

"From a financial perspective, we achieved our objectives by delivering 2012
adjusted diluted EPS near the top of our guidance range, increasing the
dividend and maintaining the strength of our balance sheet," Rogers said.

The company also resolved two significant regulatory proceedings in 2012: the
North Carolina Utilities Commission's merger investigation and the Indiana
Utility Regulatory Commission's cost recovery settlement for the Edwardsport
Integrated Gasification Combined Cycle (IGCC) Station.

BUSINESS UNIT RESULTS
The discussion below of fourth-quarter and year-end 2012 financial results
includes adjusted segment income, which is a non-GAAP financial measure. The
tables on pages 24 through 27 present a reconciliation of reported results to
adjusted results.

U.S. Franchised Electric and Gas (USFE&G)
USFE&G recognized fourth-quarter 2012 adjusted segment income of $498 million,
compared to $206 million in the fourth quarter 2011, an increase of $0.42 per
share.

USFE&G's increased results were primarily driven by the addition of Progress
Energy's regulated utility operations in the Carolinas and Florida (+$0.28 per
share).

Other drivers, excluding the addition of Progress Energy, included:

  oIncreased pricing and riders principally related to the implementation of
    revised customer rates at Duke Energy Carolinas as a result of the 2011
    rate case (+$0.07 per share)
  oAdjustments to income taxes (+$0.07 per share)
  oMore favorable weather (+$0.03 per share)

These results were partially offset by higher operating and maintenance
expenses
(-$0.05 per share).

Full-year 2012 adjusted segment income for USFE&G was $2,086 million compared
to $1,316 million in 2011, an increase of $1.34 per share.

Higher year-over-year results were primarily driven by the addition of
Progress Energy's regulated utility operations in the Carolinas and Florida
(+$1.02 per share). Excluding the addition of Progress Energy, other drivers
included increased pricing and riders principally related to the
implementation of revised customer rates at Duke Energy Carolinas (+$0.48 per
share) and lower operating and maintenance and governance costs (+$0.06 per
share).

These results were partially offset by unfavorable weather compared to the
prior year
(-$0.19 per share).

International Energy
International Energy recognized fourth-quarter 2012 adjusted segment income of
$89 million, compared to $96 million in the fourth quarter 2011, a decrease of
$0.01 per share.

International Energy's quarterly results decreased primarily due to higher
purchased power costs in Brazil because of unfavorable hydrology (-$0.02 per
share) and unfavorable foreign exchange rates primarily in Brazil (-$0.01 per
share).

These results were partially offset by increased volumes for our thermal
generation in Central America due to drier weather (+$0.02 per share).

Full-year 2012 adjusted segment income for International Energy was $439
million compared to $466 million in 2011, a decrease of $0.05 per share.

Lower year-over-year results were primarily driven by unfavorable foreign
exchange rates primarily in Brazil (-$0.06 per share) and lower results in
Central America due to lower average prices (-$0.04 per share).

These results were partially offset by higher average sales prices and volumes
in Brazil (+$0.03 per share) and higher average MTBE prices and volumes at
National Methanol Company (+$0.03 per share).

Commercial Power
Commercial Power's adjusted segment earnings for the fourth quarter 2012 were
break-even, compared to $30 million in the fourth quarter 2011, a decrease of
$0.04 per share.

Commercial Power's quarterly results decreased primarily due to adjustments to
income taxes (-$0.03 per share) and lower results from the Midwest gas
generation fleet (-$0.01 per share) driven by lower capacity revenues,
partially offset by lower operating and maintenance costs.

Results for the Midwest coal generation fleet were flat primarily due to the
net impacts of the new market-based ESP in Ohio (-$0.05 per share), offset by
the absence of a prior-year fee related to exiting the Midwest Independent
System Operator (+$0.04 per share), and lower operating and maintenance costs
(+$0.01 per share).

Full-year 2012 adjusted segment income for Commercial Power was $93 million,
compared to $186 million in 2011, a decrease of $0.16 per share.

Lower year-over-year results were driven by lower results for the Midwest coal
generation fleet due to the net impacts of the new market-based Ohio ESP on
the Midwest coal generation fleet (-$0.21 per share) offset by the absence of
a prior-year fee related to exiting MISO (+$0.04 per share), and lower
operating and maintenance costs (+$0.04 per share). Additionally, lower
results were due to unfavorable pricing and lower sales volumes for Duke
Energy Retail (-$0.08 per share).

These were partially offset by higher results at Duke Energy Renewables
(+$0.04 per share).

Results for the Midwest gas generation fleet were flat primarily due to the
offsetting impacts of favorable generation volumes (+$0.06 per share), lower
operating and maintenance costs (+$0.03 per share), and unfavorable capacity
revenues (-$0.11 per share).

Other
On an adjusted basis, Other primarily includes corporate interest expense not
allocated to the business units, results from Duke Energy's captive insurance
company, other investments, and quarterly income tax levelization adjustments.

Other recognized fourth-quarter 2012 adjusted net expense of $91 million,
compared to net expense of $17 million in the fourth quarter 2011, a
difference of $0.12 per share. Other's results were primarily due to the
addition of interest expense on Progress Energy's corporate debt (-$0.06 per
share).

Full-year 2012 adjusted net expense for Other was $135 million compared to a
net expense of $25 million in 2011, a difference of $0.19 per share.

Increased year-over-year adjusted net expense for Other was primarily driven
by the addition of interest expense on Progress Energy's corporate debt
(-$0.12 per share) and higher interest expense on Duke Energy corporate debt
(-$0.05 per share).

Share Dilution
On July 2, 2012, Duke Energy issued approximately 258 million shares of common
stock in connection with the closing of the merger with Progress Energy Inc.
The issuance of these additional shares had a dilutive impact of $0.26 per
share and $1.00 per share on the quarter-over-quarter and year-over-year
adjusted diluted EPS results, respectively.

Earnings Conference Call for Analysts
An earnings conference call for analysts is scheduled for 10 a.m. ET
Wednesday, Feb. 13, to discuss Duke Energy's financial performance for the
fourth quarter 2012 as well as providing other business updates. The
conference call will be hosted by Jim Rogers, chairman, president and chief
executive officer, and Lynn Good, executive vice president and chief financial
officer.

The call can be accessed via the investors' section
(http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing
888-695-0608 in the

United States or 719-325-2286 outside the United States. The confirmation code
is 4249923. Please call in 10 to 15 minutes prior to the scheduled start time.

A replay of the conference call will be available until midnight ET, Feb. 22,
2013, by calling 888-203-1112 in the United States or 719-457-0820 outside the
United States and using the code 4249923. A replay and transcript also will be
available by accessing the investors' section of the company's website.

Analyst Meeting Feb. 28
Duke Energy will host an investor and analyst meeting Thursday, Feb. 28, from
8:30 a.m. to 12:30 p.m. ET in New York City.

Rogers and other members of the Duke Energy management team will provide
updates on the company's operating businesses, report on regulatory
initiatives, and offer the company's financial and business outlook for 2013
and beyond.

A live webcast of the meeting can be accessed via the investors' section of
Duke Energy's website (http://www.duke-energy.com/investors/) or by dialing
719-325-2329 outside the United States or 888-427-9376 in the United States.
The confirmation code is 8401489. Please call 10 to 15 minutes prior to the
scheduled start time. A replay and transcript of the meeting will be available
by accessing the investors' section of the company's website.

Special Items and Non-GAAP Reconciliation
Special items affecting Duke Energy's adjusted diluted EPS for fourth quarter
2011 and fourth quarter 2012 include:

                                                               4Q2012  4Q2011
                                                Pre-Tax Tax
(In millions, except per-share amounts)                       EPS     EPS
                                                Amount  Effect
                                                               Impact  Impact
Fourth Quarter 2012
- Costs to Achieve, Progress Energy      $(164)  $73    $(0.13)
Merger
- Edwardsport Charges                    $(28)   $11    $(0.02)
- Discontinued Operations                $56     $(25)  $0.05
- Economic Hedges (Mark-to-Market)       $26     $(10)  $0.02
Fourth Quarter 2011
- Costs to Achieve, Progress Energy      $(39)   $11            $(0.06)
Merger
- Economic Hedges (Mark-to-Market)       $2      $(1)           --
Total diluted EPS impact                                       $(0.08) $(0.06)

Special items affecting Duke Energy's adjusted diluted EPS for full-year 2011
and full-year 2012 include:

                                                               2012    2011
                                                Pre-Tax Tax
(In millions, except per-share amounts)                        EPS     EPS
                                                Amount  Effect
                                                               Impact  Impact
Full-Year 2012
- Costs to Achieve, Progress Energy      $(636)  $239   $(0.70)
Merger
- Edwardsport Charges                    $(628)  $226   $(0.70)
- DNC Host Committee Support             $(10)   $4     $(0.01)
- Economic Hedges (Mark-to-Market)       $(9)    $3     $(0.01)
- Voluntary Opportunity Plan Deferral    $99     $(39)  $0.11
- Discontinued Operations                $60     $(24)  $0.06
Full-Year 2011
- Edwardsport Impairment                 $(222)  $87            $(0.30)
- Emission Allowance Impairment          $(79)   $28            $(0.12)
- Costs to Achieve, Progress Energy      $(68)   $17            $(0.12)
Merger
- Economic Hedges (Mark-to-Market)       $(1)    $-             $(0.01)
Total diluted EPS impact                                       $(1.25) $(0.55)

Reconciliation of reported to adjusted diluted EPS for the quarters:

                                                                 4Q2012 4Q2011

                                                                 EPS    EPS
Diluted EPS, as reported                                         $0.62  $0.65
Adjustments to reported EPS:
- Diluted EPS impact of special items and mark-to-market  $0.08  $0.06
in Commercial Power
Diluted EPS, adjusted                                            $0.70  $0.71

Reconciliation of reported to adjusted diluted EPS for the annual periods:

                                                                   2012  2011

                                                                   EPS   EPS
Diluted EPS, as reported                                           $3.07 $3.83
Adjustments to reported EPS:
- Diluted EPS impact of special items and mark-to-market in $1.25 $0.55
Commercial Power
Diluted EPS, adjusted                                              $4.32 $4.38

NON-GAAP FINANCIAL MEASURES
The primary performance measure used by management to evaluate segment
performance is segment income. Segment income is defined as income from
continuing operations net of income attributable to non-controlling interests.
In addition, direct interest expense and income taxes are included in segment
income and certain governance costs are allocated to each of the segments.

Management believes segment income, which is the GAAP measure used to report
segment results, is a good indicator of each segment's operating performance
as it represents the approximate net income contribution of Duke Energy's
business segments by incorporating the direct financing methods or capital
structures of the business segments as well as the income tax attributes of
the businesses and regions in which they operate.

Duke Energy's management uses adjusted diluted EPS, which is a non-GAAP
financial measure as it represents diluted EPS from continuing operations
attributable to Duke Energy Corporation common shareholders, adjusted for the
per-share impact of special items and the mark-to-market impacts of economic
hedges in the Commercial Power segment, as a measure to evaluate operations of
the company. In addition, Duke Energy's management calculates the EPS impact
of segment income drivers to facilitate an understanding of the impacts of
each income driver on consolidated adjusted diluted EPS.

Special items represent certain charges and credits, which management believes
will not be recurring on a regular basis, although it is reasonably possible
such charges and credits could recur. Mark-to-market adjustments reflect the
mark-to-market impact of derivative contracts, which is recognized in GAAP
earnings immediately as such derivative contracts do not qualify for hedge
accounting or regulatory accounting treatment, used in Duke Energy's hedging
of a portion of the economic value of its generation assets in the Commercial
Power segment. The economic value of the generation assets is subject to
fluctuations in fair value due to market price volatility of the input and
output commodities (e.g. coal, power) and, as such, the economic hedging
involves both purchases and sales of those input and output commodities
related to the generation assets. Because the operations of the generation
assets are accounted for under the accrual method, management believes that
excluding the impact of mark-to-market changes of the economic hedge contracts
from adjusted earnings until settlement better matches the financial impacts
of the hedge contract with the portion of the economic value of the underlying
hedged asset. Management believes that the presentation of adjusted diluted
EPS provides useful information to investors, as it provides them an
additional relevant comparison of the company's performance across periods.
Adjusted diluted EPS is also used as a basis for employee incentive bonuses.
The most directly comparable GAAP measure for adjusted diluted EPS is reported
diluted EPS from continuing operations attributable to Duke Energy Corporation
common shareholders, which includes the impact of special items and the
mark-to-market impacts of economic hedges in the Commercial Power segment. Due
to the forward-looking nature of adjusted diluted EPS for future periods,
information to reconcile such non-GAAP financial measures to the most directly
comparable GAAP financial measures is not available at this time, as the
company is unable to forecast special items and the mark-to-market impacts of
economic hedges in the Commercial Power segment for future periods.

Duke Energy also uses adjusted segment income and adjusted Other net expenses
as a measure of historical and anticipated future segment and Other
performance. Adjusted segment income and adjusted Other net expenses are
non-GAAP financial measures, as they represent reported segment income and
Other net expenses adjusted for special items and the mark-to-market impacts
of economic hedges in the Commercial Power segment. Management believes that
the presentation of adjusted segment income and adjusted Other net expenses
provides useful information to investors, as it provides them an additional
relevant comparison of a segment's or Other's performance across periods. When
an EPS amount is provided for a segment income driver, the per share impact is
derived by taking the before-tax amount of the item less income taxes based on
Duke Energy's consolidated effective tax rate, divided by the Duke Energy
weighted-average diluted shares outstanding for the period. The most directly
comparable GAAP measure for adjusted segment income or adjusted Other net
expenses is reported segment income or Other net expenses, which represents
segment income and Other net expenses from continuing operations, including
any special items and the mark-to-market impacts of economic hedges inthe
Commercial Power segment. Due to the forward-looking nature of any forecasted
adjusted segment income or adjusted Other net expenses and any related growth
rates for future periods, information to reconcile these non-GAAP financial
measures to the most directly comparable GAAP financial measures is not
available at this time, as the company is unable to forecast special items,
the mark-to-market impacts of economic hedges in the Commercial Power segment,
or any amounts that may be reported as discontinued operations or
extraordinary items for future periods.

Duke Energy 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.

MEDIA CONTACT:
Tom Shiel      704-382-2355
24-Hour:       800-559-3853
ANALYSTS:
Bob Drennan    704-382-4070

Bill Currens   704-382-1603



DUKE ENERGY CORPORATION
EARNINGS VARIANCES
December 31, 2012 QTD vs. Prior Year
                  U.S.
                  Franchised  International  Commercial
($ per share)                 Energy         Power        Other     Consolidated
                  Electric &
                  Gas
2011 QTD
Reported          $  0.46     $    0.22      $  0.07      $ (0.10)  $   0.65
Earnings Per
Share, Diluted
Costs to
Achieve,             -             -            -           0.06        0.06
Progress Energy
Merger
2011 QTD
Adjusted          $  0.46     $    0.22      $  0.07      $ (0.04)  $   0.71
Earnings Per
Share, Diluted
Share                (0.17)        (0.08)       (0.03)      0.02        (0.26)
Differential (a)
2011 QTD
Adjusted
Earnings Per      $  0.29     $    0.14      $  0.04      $ (0.02)  $   0.45
Share, Diluted,
Recasted for
Share Issuance
Progress Energy      0.28          -            -           (0.06)      0.22
Contribution
Weather              0.03          -            -           -           0.03
Pricing and          0.07          -            -           -           0.07
Riders (b)
Operation and
Maintenance and      (0.05)        -            -           -           (0.05)
Governance
Expenses
Latin America,
including            -             -            -           -           -
Foreign Exchange
Rates (c)
Midwest Coal         -             -            -           -           -
Generation (d)
Midwest Gas          -             -            (0.01)      -           (0.01)
Generation (e)
Duke Energy          -             -            (0.01)      -           (0.01)
Retail
Interest             -             -            0.01        (0.01)      -
Expense
Adjustments to       0.07          -            (0.03)      (0.04)      -
income taxes
Other                0.02          (0.01)       -           (0.01)      -
                                                -
2012 QTD
Adjusted          $  0.71     $    0.13      $  -         $ (0.14)  $   0.70
Earnings Per
Share, Diluted
Costs to
Achieve,             -             -            -           (0.13)      (0.13)
Progress Energy
Merger
Edwardsport          (0.02)        -            -           -           (0.02)
Charges
Economic Hedges      -             -            0.02        -           0.02
(Mark-to-Market)
Discontinued         -             -            -           -           0.05
Operations
2012 QTD
Reported          $  0.69     $    0.13      $  0.02    $   (0.27)  $   0.62
Earnings Per
Share, Diluted

       Note 1: Earnings Per Share amounts are calculated using the
       consolidated effective income tax rate.
       Note 2: Adjusted and Reported Earnings Per Share amounts by segment may
       not recompute from other published schedules due to rounding.
       Reflects the impact on prior period earnings per diluted share due to
       the increase in Duke Energy's weighted-average diluted common shares
       outstanding as a result of shares issued to complete the merger with
(a)
       Progress Energy. Weighted-average diluted shares outstanding increased
       from 444 million for the quarter ended December 31, 2011 to 705 million
       for the quarter ended December 31, 2012.
       Primarily due to implementation of revised customer rates in North
(b)    Carolina and South Carolina as a result of the 2011 Duke Energy
       Carolinas rate cases (+$0.09) and decreased riders (-$0.02).
       Primarily due to increased volumes in Central America (+$0.02), net of
(c)   higher purchased power in Brazil (-0.02) and unfavorable foreign
       currency exchange rates (-$0.01).
       Primarily due to the new market-based Ohio ESP (-$0.08), partially
       offset by the absence of prior year MISO exit fees (+$0.04),
(d)    non-bypassable stabilization charge (+$0.02), capacity revenues
       received from PJM in 2012 (+$0.01), and lower operation and maintenance
       expenses (+$0.01).
(e)    Primarily due to a decrease in capacity revenue (-$0.02) net of lower
       operation and maintenance expenses (+$0.01).



DUKE ENERGY CORPORATION
EARNINGS VARIANCES
December 31, 2012 YTD vs. Prior Year
                  U.S.
                  Franchised  International  Commercial
($ per share)                 Energy         Power       Other     Consolidated
                  Electric &
                  Gas
2011 YTD
Reported          $  2.66     $    1.05      $  0.29     $ (0.17)  $   3.83
Earnings Per
Share, Diluted
Costs to
Achieve,             -             -            -          0.12        0.12
Progress Merger
Edwardsport          0.30          -            -          -           0.30
Charges
Emission
Allowances           -             -            0.12       -           0.12
Impairment
Economic Hedges      -             -            0.01       -           0.01
(Mark-to-Market)
2011 YTD
Adjusted          $  2.96     $    1.05      $  0.42     $ (0.05)  $   4.38
Earnings Per
Share, Diluted
Share                (0.67)        (0.24)       (0.10)     0.01        (1.00)
Differential (a)
2011 YTD
Adjusted
Earnings Per      $  2.29     $    0.81      $  0.32     $ (0.04)  $   3.38
Share, Diluted,
Recasted for
Share Issuance
Progress Energy      1.02          -            -          (0.12)      0.90
Contribution
Weather              (0.19)        -            -          -           (0.19)
Pricing and          0.48          -            -          -           0.48
Riders (b)
Volume               0.04          -            -          -           0.04
Operation and
Maintenance and      0.06          -            -          -           0.06
Governance
Expenses
Latin America,
including            -             (0.09)       -          -           (0.09)
Foreign Exchange
Rates (c)
National             -             0.03         -          -           0.03
Methanol Company
Midwest Coal         -             -            (0.13)     -           (0.13)
Generation (d)
Midwest Gas          -             -            -          -           -
Generation (e)
Duke Energy          -             -            (0.08)     -           (0.08)
Retail
Duke Energy          -             -            0.04       -           0.04
Renewables
Interest Expense     (0.02)        -            0.01       (0.05)      (0.06)
Adjustments to       0.06          -            (0.02)     (0.02)      0.02
income taxes
Other (f)            (0.11)        0.01         0.02       -           (0.08)
2012 YTD
Adjusted          $  3.63     $    0.76      $  0.16     $ (0.23)  $   4.32
Earnings Per
Share, Diluted
Costs to
Achieve,             -             -            -          (0.70)      (0.70)
Progress Merger
Voluntary
Opportunity Plan     0.11          -            -          -           0.11
Deferral
Edwardsport          (0.70)        -            -          -           (0.70)
Charges
Democratic
National
Convention Host      -             -            -          (0.01)      (0.01)
Committee
Support
Economic Hedges      -             -            (0.01)     -           (0.01)
(Mark-to-Market)
Discontinued         -             -            -          -           0.06
Operations
2012 YTD
Reported          $  3.04     $    0.76      $  0.15     $ (0.94)  $   3.07
Earnings Per
Share, Diluted

     Note 1: Earnings Per Share amounts are calculated using the consolidated
     effective income tax rate.
     Note 2: Adjusted and Reported Earnings Per Share amounts by segment may
     not recompute from other published schedules due to rounding.
     Reflects the impact on prior period earnings per diluted share due to the
     increase in Duke Energy's weighted-average diluted common shares
(a)  outstanding as a result of shares issued to complete the merger with
     Progress Energy. Weighted-average diluted shares outstanding increased
     from 444 million for the year ended December 31, 2011 to 575 million for
     the year ended December 31, 2012.
     Primarily due to implementation of revised customer rates in North and
(b)  South Carolina as a result of the 2011 Duke Energy Carolinas rate cases
     (+$0.44) and increased riders (+$0.04).
     Primarily driven by unfavorable foreign exchange rates (-$0.06), lower
     average prices and lower capitalized interest in Central America
(c) (-$0.04), and the absence of prior year arbitration award net of higher
     pricing in Peru (-$0.01), partially offset by higher average sales prices
     and volumes in Brazil (+$0.03).
     Primarily due to the new market-based Ohio ESP (-$0.44), partially offset
     by the non-bypassable stabilization charge (+$0.13), capacity revenues
(d)  received from PJM in 2012 (+$0.10), absence of prior year MISO exit fees
     (+$0.04) and lower operation and maintenance expenses between years
     (+$0.04).
     Primarily due to favorable generation volumes (+$0.06), lower operation
     and maintenance expenses between years (+$0.03), and recovery of a Lehman
(e)  Brothers receivable previously written-off (+$0.02), partially

     offset by a decrease in capacity revenue (-$0.11).
     Amount for U.S. Franchised Electric & Gas is primarily due to an increase
(f)  in depreciation and amortization expense (-$0.14), partially offset by
     other miscellaneous items (+$0.03).



December 2012
QUARTERLY HIGHLIGHTS
(Unaudited)
                              Three Months Ended      Years Ended
                              December 31,            December 31,
(In millions, except
per-share amounts and where   2012         2011       2012         2011
noted)
COMMON STOCK DATA
Income from continuing operations attributable to Duke Energy
Corporation common shareholders^(a)
                              $       $      $       $     
 Basic                      0.57        0.65   3.01           
                                                                   3.83
                              $       $      $       $     
 Diluted                    0.57        0.65   3.01           
                                                                   3.83
Income from discontinued operations attributable to Duke Energy
Corporation common shareholders^(a)
                              $       $      $       $     
 Basic                      0.05             0.06           
                                           -                          -
                              $       $      $       $     
 Diluted                    0.05             0.06           
                                           -                          -
Net income attributable to Duke Energy Corporation
common shareholders^(a)
                              $       $      $       $     
 Basic                      0.62        0.65   3.07           
                                                                   3.83
                              $       $      $       $     
 Diluted                    0.62        0.65   3.07           
                                                                   3.83
 Dividends Declared Per      $       $      $       $     
Share^(a)                         -          3.03           
                                           -                       2.97
 Weighted-Average Shares
Outstanding^(a)
 Basic                     704          444        574          444
 Diluted                   705          444        575          444
SEGMENT INCOME BY BUSINESS
SEGMENT
U.S. Franchised Electric and  $       $      $       $     
Gas^(b)(c)(d)                   481         206  1,744           
                                                                   1,181
Commercial Power^(e)          16           31         87           134
International Energy          89           96         439          466
Total Reportable Segment      586          333        2,270        1,781
Income
Other Net Expense^(f)(g)      (182)        (45)       (538)        (76)
Income from Discontinued      31           -          36           1
Operations, net of tax
Net Income Attributable to    $       $      $       $     
Duke Energy Corporation         435         288  1,768           
                                                                   1,706
                              $       $      $       $     
                                  -              -        
                                           (1)                        -
CAPITALIZATION
Total Common Equity                                   50%          52%
Preferred Stock of                                    -            -
Subsidiaries
Total Debt                                            50%          48%
                                                      $        $     
Total Debt                                            40,518         
                                                                   21,000
                                                      $       $     
Book Value Per Share^(a)                              58.12           
                                                                   51.36
Actual Shares                                         704          445
Outstanding^(a)
CAPITAL AND INVESTMENT
EXPENDITURES
U.S. Franchised Electric and  $       $      $       $     
Gas                           1,360        1,061   4,220           
                                                                   3,717
Commercial Power              213          268        1,038        492
International Energy          432          18         551          114
Other                         65           41         149          141
Total Capital and Investment  $       $      $       $     
Expenditures                  2,070        1,388   5,958           
                                                                   4,464

(a) Reflects the impact of the 1-for-3 reverse stock split on July 2, 2012.
(b) Includes charges of $17 million in the fourth quarter of 2012 related to
the Edwardsport IGCC project (net of tax of $11 million).
(c) Includes impairment and other charges of $402 million for the year ended
December 31, 2012, related to the Edwardsport IGCC project (net of tax of $226
million).
(d) Includes impairment and other charges of $135 million for the year ended
December 31, 2011, related to the Edwardsport IGCC project (net of tax of $87
million).
(e) Includes non-cash impairment charges of $51 million for the year ended
December 31, 2011, related to an emission allowance impairment (net of tax of
$28 million).
(f) Includes costs to achieve of $91 million in the fourth quarter of 2012
related to the Progress Energy merger (net of tax of $73 million).
(g) Includes costs to achieve of $397 million for the year ended December 31,
2012, related to the Progress Energy merger (net of tax of $239 million).



December 2012
QUARTERLY HIGHLIGHTS
(Unaudited)
                         Three Months Ended        Years Ended
                         December 31,              December 31,
(In millions, except     2012         2011         2012        2011
where noted)
U.S. FRANCHISED
ELECTRIC AND GAS
 Operating Revenues     $       $       $       $      
(a)                                                    
                         4,873        2,461        16,080         10,619
 Operating Expenses     4,029        2,027        12,943      8,473
(b)
 Gains on Sales of      2            -            15          2
Other Assets, net
 Operating Income       846          434          3,152       2,148
(Loss)
 Other Income and       114          73           341         274
Expenses
 Interest Expense       260          149          806         568
 Income Before Income   700          358          2,687       1,854
Taxes
 Income Tax Expense     218          152          941         673
(c)
 Less: Income
Attributable to          1            -            2           -
Noncontrolling
Interests
                         $       $       $       $      
 Segment Income                                    
                          481         206        1,744         
                                                               1,181
                         $       $       $       $      
 Depreciation and                                  
Amortization              552         351        1,827         
                                                               1,383
 Duke Energy Carolinas  19,547       18,501       81,362      82,127
GWh sales
 Progress Energy        14,425       12,609       58,390      56,223
Carolinas GWh sales (g)
 Progress Energy        8,629        8,272        38,443      39,578
Florida's GWh sales (h)
 Duke Energy Ohio GWh   5,744        5,608        24,344      24,923
sales
 Duke Energy Indiana    7,893        7,680        33,577      33,181
GWh sales
 Net Proportional MW                              49,654      27,397
Capacity in Operation
COMMERCIAL POWER
                         $       $       $       $      
 Operating Revenues                                
                          471        565         2,078          
                                                               2,491
 Operating Expenses     469          559          1,981       2,300
(d)
 Gains on Sales of      (3)          -            8           15
Other Assets, net
 Operating Income       (1)          6            105         206
(Loss)
 Other Income and       13           -            39          21
Expenses
 Interest Expense       8            20           63          87
 Income Before Income   4            (14)         81          140
Taxes
 Income Tax Expense     (12)         (45)         (7)         (2)
 Less: Income
Attributable to          -            -            1           8
Noncontrolling
Interests
                         $       $       $       $      
 Segment Income                                    
                           16        31          87       
                                                               134
                         $       $       $       $      
 Depreciation and                                  
Amortization               56        57         228        
                                                               230
Actual Coal-fired Plant  3,743        3,958        16,164      17,378
Production, GWh
Actual Gas-fired Plant   3,639        3,545        17,122      12,021
Production, GWh
Actual Renewable Plant   1,053        846          3,452       3,132
Production, GWh
Actual Plant             8,435        8,349        36,738      32,531
Production, GWh
 Net Proportional MW                              8,094       8,325
Capacity in Operation
INTERNATIONAL ENERGY
                         $       $       $       $      
 Operating Revenues                                
                          368        353          1,549       
                                                               1,467
 Operating Expenses     275          231          1,043       946
 Gains on Sales of      -            (1)          -           (1)
Other Assets, net
 Operating Income       93           121          506         520
(Loss)
 Other Income and       35           37           171         203
Expenses
 Interest Expense       16           16           76          47
 Income Before Income   112          142          601         676
Taxes
 Income Tax Expense     20           41           149         195
 Less: Income
Attributable to          3            5            13          15
Noncontrolling
Interests
                         $       $       $       $      
 Segment Income                                    
                           89         96          439        
                                                               466
                         $       $       $       $      
 Depreciation and                                  
Amortization               25         24           99        
                                                               90
 Sales, GWh             4,868        5,021        20,132      18,889
 Proportional MW                                  4,584       4,277
Capacity in Operation
OTHER
                         $       $       $       $      
 Operating Revenues                                
                           23         10          74        
                                                               44
 Operating Expenses     190          54           704         133
(e)
 (Losses) Gains on
Sales of Other Assets,   (4)          -            (7)         (8)
net
 Operating Income       (171)        (44)         (637)       (97)
(Loss)
 Other Income and       2            6            16          49
Expenses
 Interest Expense       101          39           297         157
 (Loss) Income Before   (270)        (77)         (918)       (205)
Income Taxes
 Income Tax (Benefit)   (86)         (29)         (378)       (114)
Expense (f)
 Less: Income (Loss)
Attributable to          (2)          (3)          (2)         (15)
Noncontrolling
Interests
                         $       $       $       $      
 Net Expense                                       
                         (182)         (45)         (538)        
                                                               (76)
                         $       $       $       $      
 Depreciation and                                  
Amortization               36         28          135        
                                                               103

(a) Includes pre-tax charges of $28 million for the three months and year
    ended December 31, 2012, related to the Edwardsport IGCC project.
    Includes pre-tax impairment and other charges of $600 million and $222
(b) million for the years ended December, 2012 and 2011, respectively, related
    to the
    Edwardsport IGCC project.
    Includes a tax benefit of $226 million and $87 million for the years ended
(c) December 31, 2012 and 2011, respectively, on the impairment and other
    charges
    related to the
    Edwardsport IGCC project.
    Includes pre-tax non-cash impairment charges of $79 million for the year
(d) ended December 31, 2011, related to an impairment of emission allowances
    due to the Cross State
    Air Pollution Rule.
    Includes costs to achieve of $166 million recorded in Operating Expense
(e) for the three months ended December 31, 2012, and $628 million recorded
    in Operating Expense for
    the year ended December
    31, 2012.
    Includes a tax benefit related to costs to achieve of $73 million for the
(f) three months ended December 31, 2012, and $239 million for the year ended
    December 31, 2012.
    All of Progress Energy Carolinas' GWh sales for the three months and year
(g) ended December 31, 2011, and 26,634 GWh sales for the year ended December
    31, 2012, occurred prior to the merger with Progress Energy.
    All of Progress Energy Florida's GWh sales for the three months and year
(h) ended December 31, 2011, and 18,348 GWh sales for the year ended December
    31, 2012, occurred prior to the merger with Progress Energy.



DUKE ENERGY CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In millions, except per-share amounts)
                                                  Years Ended December 31,
                                                  December 31,
                                                  2012      2011      2010
Operating Revenues
Regulated electric                                $      $      $ 
                                                  15,621    10,589    10,723
Non-regulated electric, natural gas, and other    3,534     3,383     2,930
Regulated natural gas                             469       557       619
Total operating revenues                          19,624    14,529    14,272
Operating Expenses
Fuel used in electric generation and purchased    5,582     3,309     3,345
power - regulated
Fuel used in electric generation and purchased    1,722     1,488     1,199
power - non-regulated
Cost of natural gas and coal sold                 264       348       381
Operation, maintenance and other                  5,006     3,770     3,825
Depreciation and amortization                     2,289     1,806     1,786
Property and other taxes                          985       704       702
Goodwill and other impairment charges             666       335       726
Total operating expenses                          16,514    11,760    11,964
Gains on Sales of Other Assets and Other, net     16        8         153
Operating Income                                  3,126     2,777     2,461
Other Income and Expenses
Equity in earnings of unconsolidated              148       160       116
affiliates
Impairments and gains on sales of                 22        11        103
unconsolidated affiliates
Other income and expenses, net                    397       376       370
Total other income and expenses                   567       547       589
Interest Expense                                  1,242     859       840
Income From Continuing Operations Before Income   2,451     2,465     2,210
Taxes
Income Tax Expense from Continuing Operations     705       752       890
Income From Continuing Operations                 1,746     1,713     1,320
Income From Discontinued Operations, net of       36        1         3
tax
Net Income                                       1,782     1,714     1,323
Less: Net Income Attributable to Noncontrolling   14        8         3
Interests
Net Income Attributable to Duke Energy            $     $     $ 
Corporation                                       1,768     1,706     1,320
                                                  -         -         -
Earnings Per Share - Basic and Diluted
Income from continuing operations attributable to Duke Energy Corporation
common shareholders
               Basic                             $     $     $  
                                                   3.01     3.83    2.99
               Diluted                            $     $     $  
                                                   3.01     3.83    2.99
Income from discontinued operations attributable to Duke Energy Corporation
common shareholders
               Basic                             $     $     $  
                                                   0.06      -    0.01
               Diluted                            $     $     $  
                                                   0.06      -    0.01
Net Income attributable to Duke Energy
Corporation common shareholders
               Basic                             $     $     $  
                                                   3.07     3.83    3.00
               Diluted                            $     $     $  
                                                   3.07     3.83    3.00
Dividends declared per share                      $     $     $  
                                                   3.03     2.97    2.91
Weighted-average shares outstanding
               Basic                              574       444       439
               Diluted                            575       444       440



DUKE ENERGY CORPORATION

CONSOLIDATED

BALANCE SHEETS
(Unaudited)

(In millions)
                                              December 31,     December 31,
                                              2012             2011
ASSETS
Current Assets
Cash and cash equivalents                     $         $       
                                              1,424            2,110
Short-term investments                        333              190
Receivables (net of allowance for doubtful
accounts of
  $34 at December 31, 2012 and $35 at         1,516            784
  December 31, 2011)
Restricted receivables of variable interest
entities (net of allowance for
  doubtful accounts of $44 at December 31,    1,201            1,157
  2012 and $40 at December 31, 2011)
Inventory                                     3,223            1,588
Other                                         2,425            1,051
  Total current assets                        10,122           6,880
Investments and Other Assets
Investments in equity method unconsolidated   483              460
affiliates
Nuclear decommissioning trust funds           4,242            2,060
Goodwill                                      16,365           3,849
Intangibles, net                              372              363
Notes receivable                              71               62
Restricted other assets of variable interest  62               135
entities
Other                                         2,399            2,231
  Total investments and other assets          23,994           9,160
Property, Plant and Equipment
Cost                                          98,833           60,377
Cost, variable interest entities              1,558            913
Accumulated depreciation and amortization     (31,969)         (18,709)
Generation facilities to be retired, net      136              80
  Net property, plant and equipment           68,558           42,661
Regulatory Assets and Deferred Debits
Regulatory assets                            11,004           3,672
Other                                         178              153
  Total regulatory assets and deferred        11,182           3,825
  debits
Total Assets                                  $           $      
                                              113,856          62,526
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable                              $         $       
                                              2,444            1,433
Notes payable and commercial paper            745              154
Non-recourse notes payable of variable        312              273
interest entities
Taxes accrued                                 459              431
Interest accrued                              448              252
Current maturities of long-term debt          3,110            1,894
Other                                         2,511            1,091
  Total current liabilities                   10,029           5,528
Long-term Debt                                35,499           17,730
Non-recourse long-term debt of variable       852              949
interest entities
Deferred Credits and Other Liabilities
Deferred income taxes                         10,490           7,581
Investment tax credits                        458              384
Accrued pension and other post-retirement     2,520            856
benefit costs
Asset retirement obligations                  5,169            1,936
Regulatory liabilities                        5,584            2,919
Other                                         2,221            1,778
  Total deferred credits and other            26,442           15,454
  liabilities
Commitments and Contingencies
Preferred stock of subsidiaries               93               -
Equity
Common stock, $0.001 par value, 2 billion
shares authorized; 704 million
  and 445 million shares outstanding at
  December 31, 2012 and
  December 31, 2011, respectively             1                1
Additional paid-in capital                    39,279           21,132
Retained earnings                             1,889            1,873
Accumulated other comprehensive loss          (306)            (234)
  Total Duke Energy Corporation               40,863           22,772
  shareholders' equity
Noncontrolling interests                      78               93
  Total equity                                40,941           22,865
Total Liabilities and Equity                  $           $      
                                              113,856          62,526



DUKE ENERGY CORPORATION
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
(In millions)
                                                 Years Ended December 31,
                                                 2012           2011
CASH FLOWS FROM OPERATING ACTIVITIES
 Net income                                     $        $      
                                                 1,782          1,714
 Adjustments to reconcile net income to net
 cash provided by
        operating activities:                    3,439          1,958
                     Net cash provided by        5,221          3,672
                     operating activities
CASH FLOWS FROM INVESTING ACTIVITIES
                     Net cash used in investing  (6,174)        (4,434)
                     activities
CASH FLOWS FROM FINANCING ACTIVITIES
                     Net cash provided by        267            1,202
                     financing activities
 Net (decrease) increase in cash and cash        (686)          440
 equivalents
 Cash and cash equivalents at beginning of       2,110          1,670
 period
 Cash and cash equivalents at end of period      $        $      
                                                 1,424          2,110



Duke Energy Carolinas
Quarterly Highlights
Supplemental Franchised Electric Information
December 2012
              Three Months Ended                Years Ended
              December 31                       December 31
                                    %                                 %
              2012       2011       Inc.(Dec.)  2012       2011       Inc.(Dec.)
GWH Sales
 Residential  5,745      5,631      2.0%        26,279     28,323     (7.2%)
 General      6,419      6,357      1.0%        27,476     27,593     (0.4%)
 Service
 Industrial   5,079      5,001      1.6%        20,978     20,783     0.9%
 Other
 Energy       73         71         1.6%        290        286        1.1%
 Sales
  Total
 Regular      17,316     17,060     1.5%        75,023     76,985     (2.5%)
 Sales
 Billed
 Special      1,666      1,225      36.0%       6,130      5,911      3.7%
 Sales (1)
  Total
 Electric     18,982     18,285     3.8%        81,153     82,896     (2.1%)
 Sales
 Unbilled     565        216        161.3%      209        (769)      n/a
 Sales
  Total
 Electric
 Sales -      19,547     18,501     5.7%        81,362     82,127     (0.9%)
 Duke Energy
 Carolinas
Average
Number of
Customers
 Residential  2,056,785  2,043,114  0.7%        2,052,799  2,040,848  0.6%
 General      337,316    335,218    0.6%        336,756    334,531    0.7%
 Service
 Industrial   6,679      6,872      (2.8%)      6,749      6,958      (3.0%)
 Other
 Energy       14,363     14,262     0.7%        14,342     14,218     0.9%
 Sales
  Total
 Regular      2,415,143  2,399,466  0.7%        2,410,646  2,396,555  0.6%
 Sales
 Special      21         24         (10.5%)     23         26         (11.5%)
 Sales
 Total
 Average
 Number of    2,415,164  2,399,490  0.7%        2,410,669  2,396,581  0.6%
 Customers -
 Duke Energy
 Carolinas
Heating and
Cooling
Degree Days
 Actual
 Heating      1,206      1,110      8.6%        2,694      3,063      (12.0%)
 Degree Days
 Cooling      24         10         149.8%      1,568      1,776      (11.7%)
 Degree Days
 Variance
 from Normal
 Heating      (3.5%)     (11.7%)    n/a         (16.5%)    (4.4%)     n/a
 Degree Days
 Cooling      (44.7%)    (77.5%)    n/a         1.3%       19.1%      n/a
 Degree Days
 (1) Fourth quarter 2012 and year-to-date 2012 include 103 GWH and 421 GWH,
 respectively, of sales associated with the FERC mitigation contracts, for which
 the financial results are excluded from the U.S. Franchised Electric & Gas
 segment earnings.



Progress Energy Carolinas
Quarterly Highlights
Supplemental Franchised Electric Information
December 2012
              Three Months Ended                Years Ended
              December 31                       December 31
                                    %                                 %
              2012       2011       Inc.(Dec.)  2012       2011       Inc.(Dec.)
GWH Sales
 Residential  3,748      3,668      2.2%        16,663     18,148     (8.2%)
 General      3,497      3,544      (1.3%)      15,062     15,331     (1.8%)
 Service
 Industrial   2,624      2,573      2.0%        10,508     10,613     (1.0%)
 Other
 Energy       31         31         0.0%        122        124        (1.6%)
 Sales
  Total
 Regular      9,900      9,816      0.9%        42,355     44,216     (4.2%)
 Sales
 Billed
 Special      4,153      2,765      50.2%       15,870     12,605     25.9%
 Sales (a)
  Total
 Electric     14,053     12,581     11.7%       58,225     56,821     2.5%
 Sales
 Unbilled     372        28         n/a         165        (598)      n/a
 Sales
  Total
 Electric
 Sales -      14,425     12,609     14.4%       58,390     56,223     3.9%
 Progress
 Energy
 Carolinas
Average
Number of
Customers
 Residential  1,234,321  1,223,251  0.9%        1,231,065  1,221,426  0.8%
 General      220,156    217,944    1.0%        219,477    217,296    1.0%
 Service
 Industrial   4,420      4,469      (1.1%)      4,431      4,486      (1.2%)
 Other
 Energy       1,811      1,900      (4.7%)      1,836      1,950      (5.8%)
 Sales
  Total
 Regular      1,460,708  1,447,564  0.9%        1,456,809  1,445,158  0.8%
 Sales
 Special      15         18         (16.7%)     18         18         0.0%
 Sales
 Total
 Average
 Number of
 Customers -  1,460,723  1,447,582  0.9%        1,456,827  1,445,176  0.8%
 Progress
 Energy
 Carolinas
Heating and
Cooling
Degree Days
 Actual
 Heating      1,116      981        13.8%       2,508      2,821      (11.1%)
 Degree Days
 Cooling      60         49         22.4%       1,887      2,122      (11.1%)
 Degree Days
 Variance
 from Normal
 Heating      (5.0%)     (16.4%)    n/a         (19.1%)    (9.1%)     n/a
 Degree Days
 Cooling      (18.9%)    (36.4%)    n/a         3.3%       19.1%      n/a
 Degree Days
 (a) Year-to-date 2012 includes 577 GWH of sales associated with the FERC
 mitigation contracts, for which the financial results are excluded from the
 U.S. Franchised Electric & Gas segment earnings.



Progress Energy Florida
Quarterly Highlights
Supplemental Franchised Electric Information
December 2012
               Three Months Ended                Years Ended
               December 31                       December 31
                                     %                                 %
               2012       2011       Inc.(Dec.)  2012       2011       Inc.(Dec.)
GWH Sales
 Residential   4,309      4,094      5.3%        18,251     19,238     (5.1%)
 General       3,661      3,655      0.2%        14,945     15,091     (1.0%)
 Service
 Industrial    776        783        (0.9%)      3,160      3,243      (2.5%)
 Other Energy  6          6          2.4%        25         25         0.6%
 Sales
  Total
 Regular       8,753      8,539      2.5%        36,381     37,597     (3.2%)
 Sales Billed
 Special       428        532        (19.6%)     1,818      2,763      (34.2%)
 Sales
  Total
 Electric      9,181      9,071      1.2%        38,199     40,360     (5.4%)
 Sales
 Unbilled      (552)      (798)      (30.9%)     244        (781)      n/a
 Sales
  Total
 Consolidated
 Electric
 Sales -       8,629      8,272      4.3%        38,443     39,578     (2.9%)
 Progress
 Energy
 Florida
Average
Number of
Customers
 Residential   1,467,235  1,453,982  0.9%        1,464,154  1,452,497  0.8%
 General       188,266    186,432    1.0%        187,445    185,879    0.8%
 Service
 Industrial    2,366      2,392      (1.1%)      2,371      2,413      (1.7%)
 Other Energy  1,576      1,550      1.7%        1,560      1,573      (0.8%)
 Sales
  Total
 Regular       1,659,443  1,644,356  0.9%        1,655,530  1,642,362  0.8%
 Sales
 Special       18         15         20.0%       15         15         0.0%
 Sales
 Total Average
 Number of
 Customers -   1,659,461  1,644,371  0.9%        1,655,545  1,642,377  0.8%
 Progress
 Energy
 Florida
Heating and
Cooling
Degree Days
 Actual
 Heating       156        106        47.2%       367        411        (10.7%)
 Degree Days
 Cooling       420        377        11.4%       3,111      3,155      (1.4%)
 Degree Days
 Variance
 from Normal
 Heating       (7.3%)     (36.9%)    n/a         (21.5%)    (12.0%)    n/a
 Degree Days
 Cooling       (4.8%)     (14.5%)    n/a         3.7%       5.2%       n/a
 Degree Days



Duke Energy Ohio
Quarterly Highlights
Supplemental Franchised Electric Information
December 2012
                    Three Months Ended            Years Ended
                    December 31, 2012             December 31, 2012
                                      %                             %
                    2012     2011     Inc.(Dec.)  2012     2011     Inc.(Dec.)
GWH Sales
 Residential        1,821    1,779    2.4%        8,591    8,880    (3.3%)
 General Service    2,187    2,186    0.0%        9,375    9,626    (2.6%)
 Industrial         1,421    1,359    4.6%        5,761    5,728    0.6%
 Other Energy       28       35       (20.0%)     113      114      (0.9%)
 Sales
  Total Regular
 Electric Sales     5,457    5,359    1.8%        23,840   24,348   (2.1%)
 Billed
 Special Sales     189      161      17.4%       425      663      (35.9%)
  Total        5,646    5,520    2.3%        24,265   25,011   (3.0%)
 Electric Sales
 Unbilled Sales     98       88       11.4%       79       (88)     n/a
  Total Electric
 Sales - Duke       5,744    5,608    2.4%        24,344   24,923   (2.3%)
 Energy Ohio
Average Number of
Customers
 Residential        735,557  732,359  0.4%        734,270  730,839  0.5%
 General Service    85,938   85,331   0.7%        85,672   85,143   0.6%
 Industrial        2,571    2,589    (0.7%)      2,582    2,601    (0.7%)
 Other Energy       2,916    2,865    1.8%        2,898    2,850    1.7%
  Total Regular    826,982  823,144  0.5%        825,422  821,433  0.5%
 Sales
 Special Sales      1        1        0.0%        1        1        0.0%
 Total Average
 Number Electric    826,983  823,145  0.5%        825,423  821,434  0.5%
 Customers - Duke
 Energy Ohio
Heating and
Cooling Degree
Days
 Actual
 Heating Degree     1,284    1,090    17.8%       3,002    3,435    (12.6%)
 Days
 Cooling Degree     5        14       (64.3%)     1,389    1,303    6.6%
 Days
 Variance from
 Normal
 Heating Degree     (3.7%)   (19.6%)  n/a         (17.9%)  (5.2%)   n/a
 Days
 Cooling Degree     (77.3%)  (39.1%)  n/a         21.2%    19.7%    n/a
 Days
  Note: Includes data for
 Duke Energy Ohio and Duke
 Energy Kentucky



Duke Energy Indiana
Quarterly Highlights
Supplemental Franchised Electric Information
December 2012
                    Three Months Ended            Years Ended
                    December 31, 2012             December 31, 2012
                                      %                             %
                    2012     2011     Inc.(Dec.)  2012     2011     Inc.(Dec.)
GWH Sales
 Residential        1,928    1,914    0.7%        8,867    9,316    (4.8%)
 General Service    1,931    1,945    (0.7%)      8,314    8,359    (0.5%)
 Industrial         2,540    2,555    (0.6%)      10,412   10,237   1.7%
 Other Energy       13       14       (7.1%)      53       54       (1.9%)
 Sales
  Total Regular
 Electric Sales     6,412    6,428    (0.2%)      27,646   27,966   (1.1%)
 Billed
 Special Sales     1,341    1,127    19.0%       5,796    5,370    7.9%
  Total        7,753    7,555    2.6%        33,442   33,336   0.3%
 Electric Sales
 Unbilled Sales     140      125      12.0%       135      (155)    n/a
  Total Electric
 Sales - Duke       7,893    7,680    2.8%        33,577   33,181   1.2%
 Energy Indiana
Average Number of
Customers
 Residential        685,700  680,649  0.7%        683,335  678,931  0.6%
 General Service    100,171  100,013  0.2%        100,120  99,795   0.3%
 Industrial        2,723    2,744    (0.8%)      2,734    2,754    (0.7%)
 Other Energy       1,441    1,410    2.2%        1,433    1,399    2.4%
  Total Regular    790,035  784,816  0.7%        787,622  782,879  0.6%
 Sales
 Special Sales      9        11       (18.2%)     10       11       (9.1%)
 Total Average
 Number Electric    790,044  784,827  0.7%        787,632  782,890  0.6%
 Customers - Duke
 Energy Indiana
Heating and
Cooling Degree
Days
 Actual
 Heating Degree     1,426    1,157    23.2%       3,242    3,701    (12.4%)
 Days
 Cooling Degree     5        12       (58.3%)     1,483    1,384    7.2%
 Days
 Variance from
 Normal
 Heating Degree     (1.0%)   (21.2%)  n/a         (18.1%)  (5.9%)   n/a
 Days
 Cooling Degree     (78.3%)  (47.8%)  n/a         30.8%    28.7%    n/a
 Days



DUKE ENERGY CORPORATION
ADJUSTED TO REPORTED EARNINGS RECONCILIATION
Three Months Ended December 31, 2012
(Dollars in millions, except per-share amounts)
                                Special Items
                                Costs to
                                                         Economic
                                Achieve,
                      Adjusted             Edwardsport   Hedges             Discontinued   Total        Reported
                      Earnings  Progress   Charges                          Operations     Adjustments  Earnings
                                                         (Mark-to-Market)
                                Energy                   *
                                Merger
SEGMENT INCOME
U.S. Franchised       $ 498     $ -        $ (17)      D $ -                $ -            $ (17)       $ 481
Electric and Gas
Commercial            -         -          -             16               B -              16           16
Power
International         89        -          -             -                  -              -            89
Energy
Total Reportable      587       -          (17)          16                 -              (1)          586
Segment Income
Other                 (91)      (91)     A               -                  -              (91)         (182)
Total Reportable
Segment Income and    $ 496     $ (91)     $ (17)        $ 16               $ -            $ (92)       404
Other Net Expense
Discontinued          -                                                     31           C 31           31
Operations
Net Income (Loss)
Attributable to Duke  $ 496     $ (91)     $ (17)        $ 16               $ 31           $ (61)       $ 435
Energy Corporation
EPS ATTRIBUTABLE TO
DUKE ENERGY           $ 0.70    $ (0.13)   $ (0.02)      $ 0.02             $ 0.05         $ (0.08)     $ 0.62
CORPORATION, BASIC
EPS ATTRIBUTABLE TO
DUKE ENERGY           $ 0.70    $ (0.13)   $ (0.02)      $ 0.02             $ 0.05         $ (0.08)     $ 0.62
CORPORATION, DILUTED
A - Net of $73 million tax benefit. $3 million of gain recorded in Regulated electric (Operating Revenues), $166
million recorded within Operating Expenses and $1 million recorded in Interest Expense on the Consolidated
Statements of Operations.
B - Net of $10 million tax expense. $27 million gain recorded within Non-regulated electric, natural gas, and
other (Operating Revenues) and $1 million loss recorded within Fuel used in electric generation
and purchased power-non-regulated (Operating Expenses) on the Consolidated Statements of Operations.
C - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements
of Operations.
D - Net of $11 million tax benefit. Recorded in Regulated Electric within Operating Revenues on the Consolidated
Statements of Operations.
Weighted Average
Shares (reported
and adjusted) - in
millions
      Basic    704
      Diluted  705
* Represents the mark-to-market impact of derivative contracts, which is recognized in earnings immediately as
such derivative contracts do not qualify for hedge or regulatory accounting, used in Duke Energy Corporation's
hedging of a portion of the economic value of its generation assets in the Commercial Power segment. The
economic value of the generation assets is subject to fluctuations in fair value due to market price volatility
of the input and output commodities (e.g. coal, gas, power) and, as such, the economic hedging involves both
purchases and sales of those input and output commodities related to the generation assets. Because the
operations of the generation assets are accounted for under the accrual method, management believes that
excluding the impact of mark-to-market changes of the economic hedge contracts from adjusted earnings until
settlement better matches the financial impacts of the hedge contract with the portion of the economic value of
the underlying hedged asset. Management believes that the presentation of adjusted diluted EPS Attributable to
Duke Energy Corporation provides useful information to investors, as it provides them an additional relevant
comparison of Duke Energy Corporation's performance across periods.

DUKE ENERGY CORPORATION
ADJUSTED TO REPORTED EARNINGS RECONCILIATION
December 2012 Year-to-Date
(Dollars in millions, except per-share amounts)
                                Special Items
                                Costs to
                                           Voluntary                               Economic
                                Achieve,                               DNC Host
                      Adjusted             Opportunity   Edwardsport   Committee   Hedges             Discontinued   Total        Reported
                      Earnings  Progress                 Charges       Support                        Operations     Adjustments  Earnings
                                           Plan                                    (Mark-to-Market)
                                Energy     Deferral                                *
                                Merger
SEGMENT
INCOME
U.S.
Franchised            $ 2,086   $ -        $ 60        C $ (402)     E $ -         $ -                $ -            $ (342)      $ 1,744
Electric and
Gas
Commercial            93        -          -             -             -           (6)              B -              (6)          87
Power
International         439       -          -             -             -           -                  -              -            439
Energy
Total Reportable      2,618     -          60            (402)         -           (6)                -              (348)        2,270
Segment Income
Other                 (135)     (397)    A -             -             (6)       F -                  -              (403)        (538)
Total Reportable
Segment Income and    2,483     (397)      60            (402)         (6)         (6)                -              (751)        1,732
Other Net Expense
Discontinued          -         -          -             -             -           -                  36           D 36           36
Operations
Net Income (Loss)
Attributable to Duke  $ 2,483   $ (397)    $ 60          $ (402)       $ (6)       $ (6)              $ 36           $ (715)      $ 1,768
Energy Corporation
EPS ATTRIBUTABLE TO
DUKE ENERGY           $ 4.33    $ (0.70)   $ 0.10        $ (0.70)      $ (0.01)    $ (0.01)           $ 0.06         $ (1.26)     $ 3.07
CORPORATION, BASIC
EPS ATTRIBUTABLE TO
DUKE ENERGY           $ 4.32    $ (0.70)   $ 0.11        $ (0.70)      $ (0.01)    $ (0.01)           $ 0.06         $ (1.25)     $ 3.07
CORPORATION, DILUTED
A - Net of $239 million tax benefit. $2 million recorded in Regulated electric (Operating Revenues), $628 million recorded within
Operating Expenses and $6 million recorded in Interest Expense on the Consolidated Statements of Operations.
B - Net of $3 million tax benefit. $6 million loss recorded within Non-regulated electric, natural gas, and other (Operating Revenues) and
$3 million loss recorded within Fuel used in electric generation and purchased power-non-regulated (Operating Expenses) on the
Consolidated Statements of Operations.
C - Net of $39 million tax expense. $101 million recorded in Operation, maintenance and other and $2 million expense recorded in
Depreciation and amortization (all Operating Expenses) on the Consolidated Statements of Operations.
D - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations.
E - Net of $226 million tax benefit. $28 million recorded in Regulated electric within Operating Revenues, $580 million recorded in
Impairment charges(Operating Expenses) and $20 million recorded within within Operation, maintenance and other (Operating Expenses) on the
Consolidated Statements of Operations.
F - Net of $4 million tax benefit. Recorded within within Operation, maintenance and other (Operating Expenses) on the Consolidated
Statements of Operations.
Weighted Average Shares (reported and
adjusted) - in millions
      Basic    574
      Diluted  575
* Represents the mark-to-market impact of derivative contracts, which is recognized in earnings immediately as such derivative contracts
do not qualify for hedge or regulatory accounting, used in Duke Energy Corporation's hedging of a portion of the economic value of its
generation assets in the Commercial Power segment. The economic value of the generation assets is subject to fluctuations in fair value
due to market price volatility of the input and output commodities (e.g. coal, gas, power) and, as such, the economic hedging involves
both purchases and sales of those input and output commodities related to the generation assets. Because the operations of the generation
assets are accounted for under the accrual method, management believes that excluding the impact of mark-to-market changes of the economic
hedge contracts from adjusted earnings until settlement better matches the financial impacts of the hedge contract with the portion of the
economic value of the underlying hedged asset. Management believes that the presentation of adjusted diluted EPS Attributable to Duke
Energy Corporation provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy
Corporation's performance across periods.



DUKE ENERGY CORPORATION
ADJUSTED TO REPORTED EARNINGS RECONCILIATION
Three Months Ended December 31, 2011
(Dollars in millions, except per-share amounts)
                               Special
                               Items
                                Costs to
                                             Economic
                                Achieve,
                      Adjusted               Hedges               Total        Reported
                      Earnings  Progress                          Adjustments  Earnings
                                             (Mark-to-Market)
                                Energy       *
                                Merger
SEGMENT
INCOME
U.S. Franchised       $      $         $             $       $   
Electric and Gas       206              -                   -        206
                                 -
Commercial            30        -            1                B 1            31
Power
International         96                     -                    -            96
Energy
 Total
Reportable Segment    332       -            1                    1            333
Income
Other                 (17)      (28)     A -                    (28)         (45)
Net Income (Loss)     $      $         $             $       $   
Attributable to Duke   315               1                 (27)        288
Energy Corporation              (28)
EPS ATTRIBUTABLE TO   $      $         $             $        $   
DUKE ENERGY            0.71                -                 (0.06)       0.65
CORPORATION, BASIC              (0.06)
EPS ATTRIBUTABLE TO   $      $         $             $        $   
DUKE ENERGY            0.71                -                 (0.06)       0.65
CORPORATION, DILUTED            (0.06)
A - Net of $11 million tax benefit. Recorded in Operation, maintenance and other
(Operating Expenses) on the Consolidated Statements of Operations.
B - Net of $1 million tax expense. Recorded within Non-regulated electric, natural gas,
and other (Operating Revenues) on the Consolidated Statements of Operations.
Weighted Average Shares (reported and
adjusted) - in millions
      Basic    444
      Diluted  444
* Represents the mark-to-market impact of derivative contracts in the non-native
portfolio, which is recognized in earnings immediately as such derivative contracts do
not qualify for hedge or regulatory accounting, used in Duke Energy's hedging of a
portion of the economic value of its generation assets in the Commercial Power segment.
The economic value of the generation assets is subject to fluctuations in fair value
due to market price volatility of the input and output commodities (e.g. coal, power)
and, as such, the economic hedging involves both purchases and sales of those input and
output commodities related to the generation assets. Because the operations of the
generation assets are accounted for under the accrual method, management believes that
excluding the impact of mark-to-market changes of the economic hedge contracts from
adjusted earnings until settlement better matches the financial impacts of the hedge
contract with the portion of the economic value of the underlying hedged asset.
Management believes that the presentation of adjusted diluted EPS Attributable to Duke
Energy Corporation provides useful information to investors, as it provides them an
additional relevant comparison of Duke Energy Corporation's performance across periods.



DUKE ENERGY CORPORATION
ADJUSTED TO REPORTED EARNINGS RECONCILIATION
Twelve Months Ended December 31, 2011
(Dollars in millions, except per-share amounts)
                                Special Items
                                Costs to
                                                                            Economic
                                Achieve,                     Emission
                      Adjusted               Edwardsport     Allowances     Hedges               Discontinued     Total        Reported
                      Earnings  Progress     Impairment      Impairment                          Operations       Adjustments  Earnings
                                                                            (Mark-to-Market)
                                Energy                                      *
                                Merger
SEGMENT
INCOME
U.S. Franchised       $      $         $      C $          $             $           $       $   
Electric and Gas      1,316        -      (135)             -      -                     -         (135)     1,181
Commercial            186       -            -               (51)       E (1)              B -                (52)         134
Power
International         466                    -               -              -                    -                -            466
Energy
 Total
Reportable Segment    1,968     -            (135)           (51)           (1)                  -                (187)        1,781
Income
Other                 (25)      (51)     A                 -              -                    -                (51)         (76)
 Total Reportable
Segment Income and    1,943     (51)         (135)           (51)           (1)                  -                (238)        1,705
Other Net Expense

Discontinued          -                                                                          1            D 1            1
Operations
Net Income (Loss)     $      $         $          $          $             $           $       $   
Attributable to Duke  1,943       (51)      (135)            (51)      (1)                    1        (237)     1,706
Energy Corporation
EPS ATTRIBUTABLE TO   $      $         $          $          $               $           $       $   
DUKE ENERGY            4.38   (0.12)      (0.30)          (0.12)      (0.01)                  -         (0.55)      3.83
CORPORATION, BASIC
EPS ATTRIBUTABLE TO   $      $         $          $          $               $           $       $   
DUKE ENERGY            4.38   (0.12)      (0.30)          (0.12)      (0.01)                  -         (0.55)      3.83
CORPORATION, DILUTED
A - Net of $17 million tax benefit. Recorded in Operation, maintenance and other (Operating Expenses) on the Consolidated Statements of
Operations.
B - Net of an insignificant tax amount. $2 million of gain recorded within Non-regulated electric, natural gas, and other (Operating
Revenues) and $3 million loss recorded within Fuel used in electric generation and purchased power-non-regulated (Operating Expenses)
on the Consolidated Statements of Operations.
C - Net of $87 million tax benefit. Recorded in Impairment charges within Operating Expenses on the Consolidated Statements of
Operations.
D - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations.
E - Net of $28 million tax benefit. Recorded in Impairment charges within Operating Expenses on the Consolidated Statements of
Operations.
Weighted Average
Shares (reported and
adjusted) - in
millions
      Basic    444
      Diluted  444
* Represents the mark-to-market impact of derivative contracts, which is recognized in earnings immediately as such derivative
contracts do not qualify for hedge or regulatory accounting, used in Duke Energy Corporation's hedging of a portion of the economic
value of its generation assets in the Commercial Power segment. The economic value of the generation assets is subject to fluctuations
in fair value due to market price volatility of the input and output commodities (e.g. coal, gas, power) and, as such, the economic
hedging involves both purchases and sales of those input and output commodities related to the generation assets. Because the
operations of the generation assets are accounted for under the accrual method, management believes that excluding the impact of
mark-to-market changes of the economic hedge contracts from adjusted earnings until settlement better matches the financial impacts of
the hedge contract with the portion of the economic value of the underlying hedged asset. Management believes that the presentation of
adjusted diluted EPS Attributable to Duke Energy Corporation provides useful information to investors, as it provides them an
additional relevant comparison of Duke Energy Corporation's performance across periods.



Duke Energy Corporation
Operations and Maintenance Expense
For the Three Months and Years Ended December 31, 2012 and 2011
(In millions)
                              Three Months Ended           Years Ended
                              December       December      December   December
                              31, 2012       31, 2011      31, 2012   31, 2011
Operation, maintenance        $1,744         $1,065        $5,006     $3,770
and other (a)
Adjustments:
  Costs to Achieve,           (153)          (39)          (493)      (68)
  Progress Merger (b)
  Voluntary Opportunity       -              -             101        -
  Plan Deferral (b)
  Edwardsport Legal Fees      -              -             (20)       -
  (b)(c)
  DNC Host Committee          -              -             (10)       -
  Support (b)
  Reagents Recoverable        (14)           (12)          (58)       (51)
  (d)
  Energy Efficiency           (72)           (33)          (201)      (97)
  Recoverables (d)
  Other Deferrals and         (24)           (10)          (60)       (50)
  Recoverables (d)
  RTO Costs (d)               3              (5)           (3)        (36)
  Other (e)                   62             (31)          139        137
Adjusted Operation,           $1,546         $935          $4,401     $3,605
maintenance and other
  (a) As reported in the Consolidated Statements of Operations
  (b) Presented as a special item for purposes of calculating adjusted diluted
  earnings per share
  (c) Recorded in the first quarter of 2012 as part of the Edwardsport
  Impairment resulting from the settlement agreement with the Indiana Office
  of Consumer Counselor, the Duke
  Energy Industrial Group,
  and Nucor Steel - Indiana.
  (d) Primarily represents expenses to be deferred or recovered
  through rate riders
  (e) Primarily intercompany and other
  eliminations / adjustments
  Note: Includes Progress Energy expenses
  beginning July 2, 2012.



SOURCE Duke Energy

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