Duke celebrates FERC approval of two Duke Energy Gas Transmission projects

HOUSTON, June 20, 2002 — Two separate Duke Energy Gas Transmission (DEGT) projects — the Freehold project and the Hanging Rock project — approved last week by the Federal Energy Regulatory Commission (FERC) will utilize a new rate schedule that allows customers to contract for firm hourly swing service on Texas Eastern Transmission, LP laterals.

Texas Eastern’s new Rate Schedule MLS-1 and the Freehold project facilities will be used by New Jersey Natural Gas Co. in assuring reliable service to existing and growing residential customer loads with significant daily load swings. The project includes adding line pack, installing a new compressor unit and uprating the system.

Rate Schedule MLS-1 also will be utilized in Texas Eastern’s Hanging Rock Lateral project to provide natural gas transportation service to a newly constructed gas-fired electric generation facility in Lawrence County, Ohio.

“The approval of these projects and the new rate schedule demonstrates both FERC and Texas Eastern’s commitment to finding solutions that address customers’ increasing and changing energy needs,” said Robert B. Evans, president and chief executive officer of DEGT. “We commend the commission and its staff for their efforts to approve both project applications and to issue the Certificates for Public Convenience and Necessity in only eight months.”

In approving the two projects, FERC commissioners noted that a recurring topic before the commission is the need for hourly flexibility for both new and existing customers. Commissioners also indicated they were pleased that Texas Eastern had taken the initiative in addressing the issue with the new projects.

Duke Energy Gas Transmission is a North American specialist in developing energy infrastructure and connecting major natural gas supply basins to growing markets. The company’s natural gas operations include more than 18,900 miles of interstate transmission pipeline and 240 billion cubic feet of storage capacity in Canada and the United States. More information about DEGT is available on the Internet at www.degt.duke-energy.com.

Duke Energy is a diversified multinational energy company with an integrated network of energy assets and expertise. The company manages a dynamic portfolio of natural gas and electric supply, delivery and trading businesses — meeting the energy needs of customers throughout North America and in key markets around the world. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.

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