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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 10-K

(Mark One)

For the fiscal year ended December 31, 2002 or

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from  __________________  to  __________________

Commission file number 1-4928  

DUKE ENERGY CORPORATION
(Exact name of registrant as specified in its charter)

704-594-6200
(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:

		Title of each class		Name of each exchange on which registered
		Common Stock, without par value		New York Stock Exchange, Inc.
		6.375% Preferred Stock A, 1993 Series, par value $25		New York Stock Exchange, Inc.
		First and Refunding Mortgage Bonds, 6  3 /4% Due 2025		New York Stock Exchange, Inc.
		First and Refunding Mortgage Bonds, 6  7 /8% Series B Due 2023		New York Stock Exchange, Inc.
		First and Refunding Mortgage Bonds, 7% Due 2033		New York Stock Exchange, Inc.
		7.20% Quarterly Income Preferred Securities issued by Duke    Energy Capital Trust I and guaranteed by Duke Energy    Corporation		New York Stock Exchange, Inc.
		7.20% Trust Preferred Securities issued by Duke Energy Capital    Trust II and guaranteed by Duke Energy Corporation		New York Stock Exchange, Inc.
		Preference Stock Purchase Rights		New York Stock Exchange, Inc.
		Series C 6.60% Senior Notes Due 2038		New York Stock Exchange, Inc.
		Corporate Units		New York Stock Exchange, Inc.

Securities registered pursuant to Section 12(g) of the Act:
Title of class
Preferred Stock, par value $100

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months and (2) has been subject to such filing requirements for the past 90 days.  Yes  x  No 

Indicate by check mark if disclosure of delinquent filers pursuant to Item 405 of Regulation S-K is not contained herein, and will not be contained, to the best of registrant’s knowledge, in definitive proxy or information statements incorporated by reference in Part III of this Form 10-K or any amendment to this Form 10-K.  

Indicate by check mark whether the registrant is an accelerated filer (as defined in Rule 12b-2 of the Securities Exchange Act of 1934).  Yes  x  No  

		Estimated aggregate market value of the common equity held by nonaffiliates    of the registrant       at March 3, 2003		$12,015,000,000
		at June 28, 2002		$25,846,000,000
		Number of shares of Common Stock, without par value, outstanding       at March 3, 2003		897,280,223
		at June 28, 2002		832,055,248

Documents incorporated by reference:

The registrant is incorporating herein by reference certain sections of the proxy statement relating to the 2003 annual meeting of shareholders to provide information required by Part II, portions of Item 5, and Part III, Items 10, 11 and 12 of this annual report.

DUKE ENERGY CORPORATION
FORM 10-K FOR THE YEAR ENDED DECEMBER 31, 2002
TABLE OF CONTENTS

		Item
				PART I.
		1.		Business
				General
				Franchised Electric
				Natural Gas Transmission
				Field Services
				Duke Energy North America
				International Energy
				Other Energy Services
				Duke Ventures
				Environmental Matters
				Geographic Regions
				Employees
				Operating Statistics
				Executive Officers of Duke Energy
		2.		Properties
		3.		Legal Proceedings
		4.		Submission of Matters to a Vote of Security Holders
				PART II.
		5.		Market for Registrant’s Common Equity and Related Stockholder Matters
		6.		Selected Financial Data
		7.		Management’s Discussion and Analysis of Results of Operations and Financial Condition
		7A.		Quantitative and Qualitative Disclosures About Market Risk
		8.		Financial Statements and Supplementary Data
		9.		Changes in and Disagreements with Accountants on Accounting and Financial Disclosure
				PART III.
		10.		Directors and Executive Officers of the Registrant
		11.		Executive Compensation
		12.		Security Ownership of Certain Beneficial Owners and Management
		13.		Certain Relationships and Related Transactions
		14.		Controls and Procedures
				PART IV.
		15.		Exhibits, Financial Statement Schedule, and Reports on Form 8-K.
				Signatures
				Exhibit Index

SAFE HARBOR STATEMENT UNDER THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995

Duke Energy Corporation’s reports, filings and other public announcements may contain or incorporate by reference statements that do not directly or exclusively relate to historical facts. Such statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. You can typically identify forward-looking statements by the use of forward-looking words, such as “may,” “will,” “could,” “project,” “believe,” “anticipate,” “expect,” “estimate,” “continue,” “potential,” “plan,” “forecast” and other similar words. Those statements represent Duke Energy’s intentions, plans, expectations, assumptions and beliefs about future events and are subject to risks, uncertainties and other factors. Many of those factors are outside Duke Energy’s control and could cause actual results to differ materially from the results expressed or implied by those forward-looking statements. Those factors include:

• State, federal and foreign legislative and regulatory initiatives that affect cost and investment recovery, have an impact on rate structures, and affect the speed at and degree to which competition enters the electric and natural gas industries
• The outcomes of litigation and regulatory investigations, proceedings or inquiries
• Industrial, commercial and residential growth in Duke Energy’s service territories
• The weather and other natural phenomena
• The timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates
• General economic conditions, including any potential effects arising from terrorist attacks and any consequential hostilities or other hostilities
• Changes in environmental and other laws and regulations to which Duke Energy and its subsidiaries are subject or other external factors over which Duke Energy has no control
• The results of financing efforts, including Duke Energy’s ability to obtain financing on favorable terms, which can be affected by various factors, including Duke Energy’s credit ratings and general economic conditions
• Lack of improvement or further declines in the market prices of equity securities and resultant cash funding requirements for Duke Energy’s defined benefit pension plans
• The level of creditworthiness of counterparties to Duke Energy’s transactions
• The amount of collateral required to be posted from time to time in Duke Energy’s transactions
• Growth in opportunities for Duke Energy’s business units, including the timing and success of efforts to develop domestic and international power, pipeline, gathering, processing and other infrastructure projects
• The performance of electric generation, pipeline and gas processing facilities
• The extent of success in connecting natural gas supplies to gathering and processing systems and in connecting and expanding gas and electric markets and
• The effect of accounting pronouncements issued periodically by accounting standard-setting bodies

In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.