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DUKE ENERGY 2006 SUMMARY ANNUAL REPORT 3
CHAIRMAN’S LETTER TO STAKEHOLDERS
Dear fellow investors, customers, employees and all who have a
vested interest in our success — our partners, suppliers, policymakers,
regulators and communities:
I want to thank the entire Duke Energy team for accomplishing both a
merger and a spinoff last year. Never before in my career have I seen
people work so hard to resolve so many complex issues. Our many financial,
operational and policy accomplishments in 2006 were the result of your
dedication and support.
For our other stakeholders, let me summarize our key accomplishments simply
by saying that we did what we said we would do in our 2006 Charter.
2006 ongoing diluted earnings per share of $1.81 exceeded 2005 ongoing
diluted earnings per share of $1.73. Duke Energy’s total shareholder return for
2006, before the spinoff of Spectra Energy in early 2007, was 26.3 percent.
We outperformed both the Philadelphia Stock Exchange Utility Sector Index
(20 percent) and the S&P 500 Index (15.8 percent).
The strategic steps we took last year positioned the company for growth in
2007 and beyond. We established an industry-leading electric power platform
through the successful execution of the merger with Cinergy — and we did
it in 11 months.
(LEFT) JAMES E. ROGERS, CHAIRMAN, PRESIDENT AND CHIEF EXECUTIVE OFFICER