INTRODUCTION

"Duke Energy targets key regions of the world where free markets prevail. As monopolies give way to competition, we fuel the new economies by providing low-cost and reliable energy and by advancing open competition. Open competition promotes economic growth. Our customers can buy reliable energy at prices that are competitive on a world scale. We benchmark ourselves against the best in the world in energy price and reliability. Our success is measured by growth. We help our customers grow by providing energy at competitive prices. We help the countries in which we operate to grow a robust economy. And we help Duke Energy grow value for its shareholders by investing in world energy markets. At Duke Energy, we promote and capture growth."

Duke Energy International (DEI) is replicating Duke Energy's North American strategy of integrating natural gas and power assets with energy trading and marketing. DEI manages these energy businesses from within the regions in which it operates, recruiting local talent and brainpower – people who know the markets and have established relationships. This strengthens the company's social, economic and commercial ties in the markets and provides a distinct competitive advantage: intellectual capital.

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