Duke Power Preparing Combined Construction and Operating License; Selects Westinghouse AP1000 Reactor Design

Oct 26, 2005, 01:00 ET from Duke Energy

    CHARLOTTE, N.C., Oct. 26 /PRNewswire-FirstCall/ -- Duke Power confirmed
 today it is preparing a combined construction and operating license (COL)
 application for new nuclear generation. The application is for two
 Westinghouse Advanced Passive 1000 (AP1000) reactors at a site to be named
 following the conclusion of its current site selection study.
     (Logo: http://www.newscom.com/cgi-bin/prnh/20040414/DUKEENERGYLOGO)
     Pursuit of the COL application, which is expected to be submitted to the
 U.S. Nuclear Regulatory Commission within the next 24-30 months, is part of
 the company's long-term generation planning process, and will allow Duke Power
 to keep new nuclear generation as an option for meeting its customers' future
 energy needs.
     "Our employees have proven that nuclear generation can provide safe,
 reliable and cost-effective electricity for our customers," said Brew Barron,
 Duke Power chief nuclear officer. "Preparing this application provides us the
 option to continue using a diverse fuel mix in the future."
     Duke Power's selection of the Westinghouse AP1000 reactor design allows
 the company to rely on proven, safe nuclear technology and progressive
 innovation as it considers a new nuclear power plant. The AP1000 design is
 based on the same Westinghouse pressurized water reactor (PWR) technology that
 has achieved thousands of successful reactor-years of operation throughout the
 world.
     Westinghouse PWR technology is currently in use at the Duke Power-operated
 McGuire and Catawba nuclear stations.
     Westinghouse is partnering with The Shaw Group Inc., a global engineering,
 design, construction and operations firm, on engineering work for this
 project.
     "The selection of the AP1000 reactor technology is a significant milestone
 for this project," said Bryan Dolan, nuclear projects managing director. "We
 are pleased this work is moving forward."
     In preparing to meet future customer needs, Duke Power is also continuing
 to evaluate potential new, state-of-the-art coal and combined-cycle plants,
 and is seeking bids from the wholesale power market.
     Duke Power, a business unit of Duke Energy, is one of the nation's largest
 electric utilities and provides safe, reliable, competitively priced
 electricity and value-added products and services to more than 2 million
 customers in North Carolina and South Carolina. The company operates three
 nuclear generating stations, eight coal-fired stations, 31 hydroelectric
 stations and numerous combustion turbine units. Total system generating
 capability is approximately 19,900 megawatts. More information about Duke
 Power is available on the Internet at: http://www.dukepower.com.
     Duke Energy (NYSE:   DUK) is a diversified energy company with a portfolio
 of natural gas and electric businesses, both regulated and unregulated, and an
 affiliated real estate company. Duke Energy supplies, delivers and processes
 energy for customers in the Americas. Headquartered in Charlotte, N.C., Duke
 Energy is a Fortune 500 company traded on the New York Stock Exchange under
 the symbol DUK. More information about the company is available on the
 Internet at: http://www.duke-energy.com.
     This document 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. Although Duke Energy believes that its expectations are
 based on reasonable assumptions, it can give no assurance that its goals will
 be achieved. Important factors could cause actual results to differ materially
 from those in the forward-looking statements herein are discussed in Duke
 Energy's 2004 Form 10-K and other filings with the Securities and Exchange
 Commission.
 
     - Media teleconference Wednesday, Oct. 26, at 11 a.m. (EDT). Media may
       dial in at 866-332-6118 to hear the briefing and participate in question
       and answer period.
 
     CONTACT: Rita Sipe
     Phone: 704/382-8609
     24-Hour: 704/382-8333, Option 1
 
 

SOURCE Duke Energy