Press Release

Duke Energy Chief Joins EDAF in National Ad Campaign Supporting Carbon Cap

Jim Rogers Says Well-Designed Emissions Cap Will Keep Electricity Affordable

Posted: 13-May-2009

FOR IMMEDIATE RELEASE

Contact
Tony Kreindler, Environmental Defense Fund, (202) 445-8108, tkreindler@edf.org

(Washington – May 13, 2009) Duke Energy is joining the Environmental Defense Action Fund in a national advertising campaign that supports a "smart cap" on carbon emissions as the climate change solution that protects consumers. Jim Rogers, chairman, president and chief executive officer of Charlotte, NC-based Duke Energy, highlights the consumer benefits of a well-designed carbon cap in a 30-second television spot that begins airing nationally today.

"Why would the head of one of America's largest coal burning utilities support a cap on carbon emissions?" Rogers asks in the spot. "Because America has to start making smart choices."

"A well-designed cap that provides a smooth transition to clean energy will keep electricity affordable and protect your family's budget," Rogers adds.

Video of the ad can be viewed at www.asmartcap.org, which provides more information on how a well-designed carbon cap will help solve climate change, drive investment in clean energy, and protect family budgets.

"To pass successful and long-lasting climate change legislation, we must protect consumers from unnecessary price spikes," said Rogers. "I am convinced we can meet the ambitious targets of reducing greenhouse gas emissions by 80 percent by 2050 -- if we design a plan that gets the transition right. This means implementing a cap and trade program that provides new incentives to reduce emissions in the near term and to invest in clean technologies. It also must take into account the fact that half our states get more than 50 percent of their electricity from coal."

Rogers is the second utility executive to join the "Smart Cap" campaign, which launched last week with an ad featuring John W. Rowe, chairman and chief executive officer of Exelon Corporation.

"These two executives get the urgency of capping carbon for our environment and our economy. We need a strong and smart cap that drives economic investment and protects consumers," said David Yarnold, executive director of Environmental Defense Action Fund.

Duke Energy and the Environmental Defense Fund are members of the U.S. Climate Action Partnership, a group of 25 leading companies and five non-profit groups that are calling on Congress to enact a cap on greenhouse gases as soon as possible. The group's members represent every sector of the U.S. economy. More information about USCAP is online at www.us-cap.org.