Duke draws $1 billion under its Master Credit Agreement
CHARLOTTE, NORTH CAROLINA - Duke Energy Corporation announced it is drawing approximately $1 billion under its $3.2 billion Master Credit Agreement, which expires in June 2012.
"In light of the uncertain market environment, we made this proactive financial decision to increase our liquidity and cash position and to bridge our access to the debt capital markets," said David Hauser, group executive and chief financial officer. "This improves our flexibility as we continue to execute our business plans."
With this draw, the company expects to have approximately $2 billion of cash and cash equivalents.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4 million U.S. customers in its regulated jurisdictions. The company has approximately 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky.
In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
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Big prizes awarded to European electricity prediction specialists
LONDON - Three European prediction specialists have won prizes worth €2 million for developing the most accurate predictions of electricity flow through a grid
The three winners of the Big Data Technologies Horizon Prize received their awards at a ceremony on 12th November in Austria.
The first prize of €1.2 million went to Professor José Vilar from Spain, while Belgians Sofie Verrewaere and Yann-Aël Le Borgne came in joint second place and won €400,000 each.
The challenge was open to individuals groups and organisations from countries taking part in the EU’s research and innovation programme, Horizon 2020.
Carlos Moedas, Commissioner for Research, Science and…
