Duke Energy 2010 Annual Report Download - page 14

LETTER TO STAKEHOLDERS (CONTINUED)
and a virtual showroom. A “Plug-in and Save” calculator shows you the financial and
carbon footprint savings from driving a plug-in electric vehicle.
We’re also helping to shape state and federal policies and standards. This technology
is good for the planet and good for our profits, helping drive electricity sales.
OUTLOOK FOR 2011 AND BEYOND
Throughout 2011, we will be planning for the integration of Duke Energy and Progress
Energy and filing for merger approvals with various federal and state regulators and
shareholders of both companies. We will leverage our existing systems and evaluate best
practices to ensure an efficient integration of the two merged companies. We have named
the top-tier management team for the combined company and have integration planning
teams in place. These early decisions were designed to accelerate the integration planning
process. We are targeting to close the transaction by the end of 2011.
Our 2011 outlook assumes a slow economic recovery, continued progress on our
modernization efforts, and stabilization of the competitive environment in Ohio. We expect
adjusted diluted earnings per share between $1.35 to $1.40. In addition, you can expect:
■An increase in the quarterly dividend of approximately 2 percent during 2011, subject
to board of directors’ approval
■Requests for increases in customer rates to recover expenses incurred in constructing
and upgrading power plants
■Continued efforts across our jurisdictions to gain approval of mechanisms that narrow
the gap between allowed and earned returns
■Increased safety performance and improved reliability due to plant and equipment
investments and the continued rollout of digital technology, and
■Continued support for communities through leadership, investment, economic
development and service projects.
OUR CONSTANT DRIVE FOR PRODUCTIVITY GAINS
The roughly 12 million people who live in our service territories and those who will follow
depend on the decisions we make today to build the right infrastructure to power our world
for the future.
Our persistent push for productivity improvements in every aspect of our business
enables us to better meet the needs of all our stakeholders. This allows us to achieve our
mission of delivering affordable, reliable and clean energy today and in the years to come.
Our pursuit of productivity gains is at the core of all that we do. It is making a better Duke
Energy for our customers, investors, employees, and communities.
We will remain sharply focused on these objectives and continue to deliver results
today, while investing for our future.
James E. Rogers
Chairman, President and Chief Executive Officer
March 4, 2011
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DUKE ENERGY CORPORATION / 2010 ANNUAL REPORT