Northeast U.S., Canadian Maritime Provinces

A showcase region for Duke Energy's "value chain" strategy - making, moving, managing and marketing energy, including:

• Completed Phase I of Bridgeport Energy Project (340 MW), with Phase II (180 MW) to be in service by July 1999;
• Launched construction of 520 MW natural gas-fired Maine Independence Station expected to be in service in 2000;
• Constructed 83 miles of the 650-mile Maritimes & Northeast Pipeline scheduled to begin delivering natural gas by late 1999;
• Announced Algonquin HubLine, to interconnect Algonquin and Maritimes & Northeast pipelines and serve power generation projects in greater Boston Harbor area;
• Formed a joint venture to build Cross Bay Pipeline, expanding service to New York City; and
• Signed long-term agreements with three leading industrial companies in Canada's Maritimes Provinces to provide more than 97 MMcf/d of natural gas.