Exhibit 99.1

DUKE POWER COMPANY LLC

(formerly Duke Energy Corporation)

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL

INFORMATION

The accompanying Unaudited Pro Forma Condensed Consolidated Statement of Operations for the year ended December 31, 2005 reflect the transfer by the registrant, Duke Power LLC (“Duke Power”), to Duke Energy Corporation (“Duke Energy”) of all of its membership interests in its wholly-owned subsidiary Duke Capital LLC (“Duke Capital”) (including the operations of Duke Energy Merchants, LLC and Duke Energy Merchant Finance, LLC) as if it had occurred on January 1, 2005. The accompanying Unaudited Pro Forma Condensed Consolidated Balance Sheet as of December 31, 2005 reflects the transfer as if it had occurred on December 31, 2005.

The accompanying unaudited pro forma condensed consolidated financial statements should be read in connection with the registrant’s consolidated financial statements as of December 31, 2005, including the notes thereto, included in the registrant’s Form 10-K for the year ended December 31, 2005.

The accompanying unaudited pro forma condensed consolidated financial statements are provided for informational purposes only and is not necessarily indicative of the consolidated financial position or results of operations of Duke Power Company LLC that would have been reported had the transfer been completed at the dates indicated nor is it indicative of Duke Power Company LLC’s future consolidated financial position or results of operations.

As described in Item 8.01 of the Current Report on Form 8-K to which this unaudited pro forma condensed consolidated financial information is attached as an exhibit, on April 3, 2006 the registrant became a wholly owned subsidiary of Duke Energy Corporation, a Delaware corporation, and converted its form of organization from a North Carolina corporation to a North Carolina limited liability company. Other than the pro forma adjustments to present common stockholders’ equity as of December 31, 2005 as member’s equity, the accompanying unaudited pro forma condensed consolidated financial statements do not reflect any adjustments for these events or for any transactions that may occur subsequent to April 3, 2006.

DUKE POWER COMPANY LLC

(formerly Duke Energy Corporation)

Unaudited Pro Forma Condensed Consolidated Statement of Operations

For the Year Ended December 31, 2005

(In millions)

	Duke Energy Historical		Duke Capital Historical (a)		Duke Energy Merchants Historical (a)			Other Pro Forma Adjustments (b)			Duke Power Company LLC Pro Forma
Operating Revenues
Non-regulated electric, natural gas, natural gas liquids, and other	$	7,661	$	7,287	$	635		$	268		$	7
Regulated electric		5,406				—			19			5,425
Regulated natural gas and natural gas liquids		3,679		3,679		—						—
Total operating revenues		16,746		10,966		635			287			5,432
Operating Expenses
Natural gas and petroleum products purchased		6,279		5,812		466			(1	)		—
Operation, maintenance and other		3,553		2,002		33			124			1,642
Fuel used in electric generation and purchased power		1,584		336		—						1,248
Depreciation and amortization		1,728		766		—			1			963
Property and other taxes		571		262		—						309
Impairment and other charges		140		140								—
Total operating expenses		13,855		9,318		499			124			4,162
Gains on Sales of Investments in Commercial and Multi-Family Real Estate		191		191		—						—
Gains on Sales of Other Assets, net		534		527		—						7
Operating Income		3,616		2,366		136			163			1,277
Other Income and Expenses
Equity in earnings of unconsolidated affiliates		479		479		—						—
Gains on sales and impairments of equity method investments		1,225		1,225		—						—
Other income and expenses, net		96		81		(165	)		(165	)		15
Total other income and expenses		1,800		1,785		(165	)		(165	)		15
Interest Expense		1,062		775		(4	)					291
Minority Interest Expense		538		538		—						—
Earnings (Loss) From Continuing Operations Before Income Taxes		3,816		2,838		(25	)		(2	)		1,001
Income Tax Expense (Benefit) from Continuing Operations		1,283		1,225		(272	)					330
Income From Continuing Operations	$	2,533	$	1,613	$	247		$	(2	)	$	671

See accompanying Notes to Unaudited Pro Forma Condensed Consolidated Financial Statements, which are an integral part of these statements.

DUKE POWER COMPANY LLC

(formerly Duke Energy Corporation)

Unaudited Pro Forma Condensed Consolidated Balance Sheet

December 31, 2005

(In millions)

	Duke Energy Historical		Duke Capital Historical (a)		Duke Energy Merchants Historical (a)			Other Pro Forma Adjustments			Duke Power Company LLC Pro Forma
ASSETS
Current Assets	$	7,957	$	6,450	$	99		$	72	(b)	$	1,480
Goodwill		3,775		3,775		—						—
Investments and Other Assets		11,258		7,892		430			8	(b)		2,944
Property, Plant and Equipment
Cost		40,574		19,086		(26	)					21,514
Less accumulated depreciation and amortization		11,374		3,399		4						7,971
Net property, plant and equipment		29,200		15,687		(30	)					13,543
Regulatory Assets and Deferred Debits		2,533		1,216		—						1,317
Total Assets	$	54,723	$	35,020	$	499		$	80		$	19,284
LIABILITIES AND COMMON STOCKHOLDERS’/MEMBER’S EQUITY
Current Liabilities	$	8,418	$	7,207	$	138		$	70	(b)	$	1,143
Long-term Debt		14,547		8,790		—						5,757
Deferred Income Taxes		5,253		3,188		(151	)					2,216
Asset Retirement Obligations		2,058		29		—						2,029
Deferred Credits and Other Liabilities		7,259		3,474		65						3,720
Minority Interests		749		749		—						—
Common Stockholders’/Member’s Equity
Common stock		10,388		—		—			(10,388	)(c)		—
Retained earnings		5,335		—		—			(5,335	)(c)		—
Member’s equity		—		10,927		377			15,723 10	(c) (b)		4,429
Accumulated other comprehensive income (loss)		716		656		70						(10	)
Total common stockholders’/member’s equity		16,439		11,583		447			10			4,419
Total Liabilities and Common Stockholders’/Member’s Equity	$	54,723	$	35,020	$	499		$	80		$	19,284

See accompanying Notes to Unaudited Pro Forma Condensed Consolidated Financial Statements, which are an integral part of these statements.

DUKE POWER COMPANY LLC

(formerly Duke Energy Corporation)

Notes to Unaudited Pro Forma Condensed Consolidated Financial Statements

(a) Transfer of Duke Energy Merchants and Duke Capital LLC - Represents the pro forma adjustments required to reflect the transfer of Duke Energy Merchants, LLC and Duke Energy Merchant Finance, LLC from Duke Power Company LLC (formerly Duke Energy Corporation) to Duke Capital LLC, and the subsequent transfer of Duke Capital LLC to Duke Energy Corporation (formerly known as Duke Energy Holding Corp.).

(b) Intercompany Transactions - Represents the pro forma adjustments required to (i) eliminate certain transactions between Duke Capital LLC, Duke Energy Merchants, LLC, and Duke Energy Merchant Finance, LLC and (ii) classify certain transactions between Duke Power Company LLC and the operations transferred as third party transactions.

(c) Conversion to Limited Liability Company - Represents the pro forma adjustments required to present the pro forma shareholders’ equity balances as member’s equity to reflect the conversion to a limited liability company.