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 *   YOUNG STEVEN K 2. Date of Event Requiring Statement (Month/Day/Year) 06/01/2005 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) Vice President and Controller 5. If Amendment, Date Original Filed(Month/Day/Year) (Street) CHARLOTTE, NC 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 3,209 D   Common Stock 7,617 I By Trustee under Retirement Savings Plan Common Stock 637 I By Trustee, Dividend Reinvestment Plan

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)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
LTIP Phantom Stock 2004 Grant	  (1)	  (2)	Common Stock	3,296	$ (3)	D	Â
LTIP Phantom Stock Grant Feb 2005	  (4)	  (2)	Common Stock	4,100	$ (3)	D	Â
Performance Shares (Chairman's Award)	08/18/2006	  (2)	Common Stock	8,000	$ (3)	D	Â
Phantom Stock	  (5)	  (2)	Common Stock	1,003	$ (5)	D	Â
Stock Option (Right to Buy)	02/17/2002	02/17/2008	Common Stock	2,600	$ 27.63	D	Â
Stock Option (Right to Buy)	02/17/2003	02/17/2009	Common Stock	6,000	$ 29.66	D	Â
Stock Option (Right to Buy)	12/20/2003	12/20/2009	Common Stock	4,200	$ 24.88	D	Â
Stock Option (Right to Buy)	12/20/2004	12/20/2010	Common Stock	7,600	$ 42.81	D	Â
Stock Option (Right to Buy)	  (6)	12/19/2011	Common Stock	9,800	$ 37.68	D	Â
Stock Option (Right to Buy)	01/17/2002	01/17/2012	Common Stock	1,500	$ 38.33	D	Â
Stock Option (Right to Buy)	01/28/2003	01/28/2013	Common Stock	1,400	$ 17.1	D	Â
Stock Option (Right to Buy)	  (7)	02/25/2013	Common Stock	8,200	$ 13.77	D	Â
Stock Option (Right to Buy)	  (8)	04/01/2013	Common Stock	1,800	$ 14.54	D	Â

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
YOUNG STEVEN K 526 SOUTH CHURCH STREET CHARLOTTE, NC 282021802	Â	Â	  Vice President and Controller	Â

Signatures

By: Judy Z. Mayo, as Attorney-in-Fact for		06/09/2005
**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)	The phantom stock vests in 5 equal annual installments beginning February 28, 2006.
(5)	Paid in cash upon termination of employment or occurrence of other events as specified in the Executive Savings Plan I.
(6)	One remaining installment of one-fourth of such options vests December 19, 2005; balance fully vested.
(7)	Two remaining installments of one-fourth each of such options vest February 25, 2006 and 2007; balance fully vested.
(8)	Two remaining installments of one-fourth each of such shares vest April 1, 2006 and 2007; remainder fully vested.

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