Duke Says Trades Didn’t Affect Profit
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Duke Energy Corp., under investigation for possible sham energy transactions, said 23 “round-trip” trades on the Intercontinental Exchange’s Internet market added $126 million to 2001 revenue and didn’t affect profit.
The trades accounted for a quarter of a percent of $51.4 billion in revenue from natural gas and power trading last year, Duke said, responding to an informal request for data from the Securities and Exchange Commission. The 23 trades weren’t in the West, Duke said.
Duke shares fell $1.44 to $22.26 on the NYSE.
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