Duke Energy Increases Quarterly Dividend

CHARLOTTE, N.C - Duke Energy has declared a quarterly cash dividend on its common stock of $0.22 per share, an increase of $0.01 over the previous level. The dividend is payable on Sept. 17, 2007, to shareholders of record on the close of business Aug. 17, 2007.

“According to our Charter, one of Duke Energy’s benchmarks for success is to provide a superior return to investors,” said James E. Rogers, chairman, president and CEO. “We are committed to having a 70- to 75-percent payout ratio, and we expect to grow our dividends with earnings over time. The board’s action increases our dividend by nearly 5 percent and affirms we are fulfilling that commitment.”

This is the 81st consecutive year that Duke Energy has paid quarterly cash dividends on its common stock.

Spectra Energy Canada Exchangeco Inc. also announced today a quarterly cash dividend on the Duke Energy exchangeable shares of CDN $0.24 per exchangeable share. The dividend is payable on Sept. 17, 2007, to shareholders of record on the close of business Aug. 17, 2007.