Duke Energy 2012 Annual Report Download - page 3

Dear fellow customers, investors, employees and all others who have a vested interest in our success —
including our partners, suppliers, policymakers, regulators and communities:
For Duke Energy, 2012 was a year of
perseverance and transformation. After wrapping
up a challenging merger journey, we’re now
moving forward as a stronger company that’s
better prepared for a new energy landscape.
We completed the merger of Duke Energy and Progress Energy on July 2, 2012,
overcoming two federal regulatory setbacks. Late in the year, we resolved an issue
with North Carolina regulators regarding the post-merger change in CEO.
I’m grateful for our employees’ resilience. They turned 2012, a year of extraordinary
uncertainty, into a year of great accomplishment in meeting our operational and
nancial objectives. They also achieved the best employee safety record in our
company’s history. The way they have pulled together bodes well for our future.
Our new logo on this annual report cover is symbolic of this new beginning in our rst
full year since becoming the largest electric utility in the United States. What matters
most is what we do now, and how we do it. Despite complex issues still in front of us,
we’re on our way to demonstrating the tremendous potential of Duke Energy.
James E. Rogers
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Chairman, President and Chief Executive Ofcer
Chairman’s Letter
to Stakeholders
1