(DUK) Duke Energy / Cisco Systems Join to Manage Home Energy

Duke Energy Corporation (DUK) signed an agreement with Cisco Systems Inc. (CSCO) to develop a smart grid-enabled home energy management solution. Duke Energy plans to use the tool to help its residential customers reduce the amount of energy wasted in their homes. Duke Energy caters to a population of 11 million in central and western North Carolina, western South Carolina, southwestern Ohio, central, north central and southern Indiana, and northern Kentucky. Internal generation usually falls short of demand and the company has to purchase power for its customers due to generating plant outages, extreme weather conditions, seasonal demand growth, and price volatility. In fiscal 2009 cost of fuel and purchased power rose by $29 million year-over-year to $3.2 billion. Duke Energy is testing the Cisco Home Energy Management Solution with