Edgar Filing: Trent Keith

Ownership Submission

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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(Print or Type Responses)

1. Name and Address of Reporting Person ^*

Â Trent Keith

2. Date of Event Requiring Statement (Month/Day/Year)
03/01/2005

3. Issuer Name and Ticker or Trading Symbol
DUKE ENERGY CORP [DUK]

(Last)

(First)

(Middle)

526 SOUTH CHURCH STREET

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

_____ Director	_____ 10% Owner
__X__ Officer (give title below)	_____ Other (specify below)
Acting GVP Gen Consl & Secy

5. If Amendment, Date Original Filed(Month/Day/Year)

(Street)

CHARLOTTE,Â NCÂ 282021802

6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

(City)

(State)

(Zip)

Table I - Non-Derivative Securities Beneficially Owned

1.Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	2,787	I	By Trustee under Retirement Savings Plan
Common Stock	804	I	By Trustee, Executive Savings Plan II

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.			SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security		6. Nature of Indirect Beneficial Ownership (Instr. 5)
LTIP Phantom Stock 2004 Grant	Â ⁽¹⁾	Â ⁽²⁾	Common Stock	3,216	$ ⁽³⁾	D	Â
LTIP Phantom Stock Grant Feb 2005	Â ⁽⁴⁾	Â ⁽²⁾	Common Stock	4,380	$ ⁽³⁾	D	Â
Phantom Stock	Â ⁽⁵⁾	Â ⁽²⁾	Common Stock	1,552	$ ⁽⁵⁾	D	Â
Phantom Stock II	Â ⁽⁶⁾	Â ⁽²⁾	Common Stock	40	$ ⁽⁶⁾	D	Â
Stock Option (Right to Buy)	Â ⁽⁷⁾	07/01/2012	Common Stock	12,700	$ 31.1	D	Â
Stock Option (Right to Buy)	Â ⁽⁸⁾	02/25/2013	Common Stock	13,200	$ 13.77	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
Trent Keith 526 SOUTH CHURCH STREET CHARLOTTE,Â NCÂ 282021802	Â	Â	Â Acting GVP Gen Consl & Secy	Â

Signatures

By: Judy Z. Mayo, as Attorney-in-Fact for		03/09/2005
^**Signature of Reporting Person		Date

Explanation of Responses:

*	If the form is filed by more than one reporting person, see Instruction 5(b)(v).
**	Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1)	Vesting of one-fifth of phantom stock occurred on 2/24/2005. The remaining shares scheduled to vest in 4 equal annual installments beginning 2/24/2006.
(2)	Expiration date not applicable
(3)	Converts to Common Stock on a 1-for-1 basis.
(4)	One fifth will vest on each of the first five anniversaries of the grant date provided the recipient continues to be employed by the registrant or employment terminates on account of retirement. Proration and immediate vesting apply if the recipient's employment terminates as a result of death, disability, or by the registrant without cause or as a result of a divestiture. Vesting upon separation from service will occur if the executive's employment is terminated by Duke Energy without cause within two years following a "change in control" (as defined in the Duke Energy 1998 Long-Term Incentive Plan).
(5)	Paid in cash upon termination of employment or occurrence of other events as specified in the Executive Savings Plan I.
(6)	Pad in cash upon the termination of employment or occurrence of other events as specified in the Executive Savings Plan II, subject to holding periods required by law.
(7)	Two remaining installments of one-fourth each of such options vest July 1, 2005 and 2006; balance fully vested.
(8)	Two remaining installments of one-fourth each of such options vest February 25, 2006 and 2007; balance fully vested.

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