Tim Gause, Duke Energy
www.duke-energy.com

At Duke Energy, we have taken several proactive steps to position the company to weather the economic downturn. Freezing 2009 salaries for exempt employees is probably the move that has had the biggest impact. We made this difficult decision in an attempt to avoid layoffs.

In another proactive move, we have set a new companywide employee incentive target of trimming $100 million from our 2009 operations and maintenance budget. While we remain committed to providing excellent customer service and reliability, we realize the extreme importance of cost control in this challenging economic environment.

We’re also reducing costs by doing things like minimizing discretionary spending on travel, business lunches and events, re-evaluating and renegotiating consultant contracts, and identifying activities that can be delayed or deferred until the economy rebounds.

Duke Energy Carolinas plans to continue its focus on boosting economic development in the region, which carries added importance in challenging times like these. Energy costs are typically one of the top five costs for manufacturers, and Duke’s competitive rates will make our region more attractive for businesses considering locating here and existing businesses looking to expand.