News Summary: Duke Energy 4Q Earnings

By The Associated Press

CHARGED UP: Duke Energy's fourth-quarter earnings beat analysts' expectations as electric rates rose and more extreme weather increased demand for power. Net income was $435 million, or 62 cents per share.

POWER OUTAGE: Electricity demand grew slightly less than 1 percent for the year. In Duke's service territory, auto manufacturers and metals companies have been increasing activity but textile manufacturers and chemical companies have cut back.

DIM PROSPECTS? Duke CEO Jim Rogers said demand for power will likely remain weak for the foreseeable future because of the slow-growing economy and energy efficiency programs.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

If you liked this article you might like

What's Behind the Surge in Energy Stocks

What's Behind the Surge in Energy Stocks

Hillary Clinton Says Prosecuting Individuals is Key to Wall Street Reform

Hillary Clinton Says Prosecuting Individuals is Key to Wall Street Reform