UNITED STATES ~~SECURITIES AND EXCHANGE COMMISSION~~

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT ~~REPORT~~ ~~Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934~~REPORT

~~Date~~Pursuant to ofSection 13 ~~Report~~or 15(~~Date~~ d) of ~~earliest event reported): September 7, 2006~~the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 22, 2006

DUKE ENERGY CORPORATION

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-32853	20-2777218
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

526 South Church Street, Charlotte, North Carolina 28202-1904

(Address of Principal Executive Offices, including Zip code)

(704) 594-6200

(Registrant’s telephone number, including area code)

SPECTRA ENERGY CORP

(Exact Name of Registrant as Specified in its Charter)

Delaware	1-33007	20-5413139
(State or Other Jurisdiction	(Commission	(IRS Employer
of Incorporation)	File Number)	Identification No.)

5400 Westheimer Court, Houston, Texas 77056

(Address of Principal Executive Offices, including Zip code)

(713) 627-5400

(Registrant’s telephone number, including area code)

DUKE CAPITAL LLC

(Exact Name of Registrant as Specified in its Charter)

Delaware	0-23977	51-0282142
(State or Other Jurisdiction	(Commission	(IRS Employer
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
of Incorporation)	File Number)	Identification No.)

526 ~~South~~ South Church Street, Charlotte, North Carolina 28202-1904 ~~(Address of Principal Executive Offices, including Zip Code)~~

(~~704)~~Address of ~~594-6200 (Registrant’s~~Principal ~~telephone~~Executive ~~number~~Offices, including ~~area~~Zip code)

(704) 594-6200

(Registrant’s telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240. 13e-4(c))

~~Item~~o Soliciting material ~~1.01~~pursuant ~~Entry~~to ~~into~~Rule 14a-12 aunder ~~Material~~the ~~Definitive~~Exchange ~~Agreement~~Act (17 CFR 240.14a-12)

~~On September 7,~~o Pre-commencement ~~2006,~~communications ~~Duke~~pursuant ~~Ventures,~~to ~~LLC, a wholly~~Rule 14d-~~owned subsidiary of the registrant~~ 2(~~“Duke Ventures”~~b), under ~~entered~~the ~~into~~Exchange aAct ~~Formation and Sale Agreement with Crescent Resources, LLC~~ (~~“Crescent”), Morgan Stanley Real Estate Fund V U.S., L.P. and~~17 ~~other~~CFR ~~affiliated funds controlled by Morgan Stanley (the “MS Members”)~~240. The Formation and Sale Agreement provided for the simultaneous signing and closing of a joint venture transaction between Duke Ventures and the MS Members with respect to the operation of Crescent, which develops and manages high14d-~~quality commercial, residential and multi-family real estate projects primarily in the Southeastern and Southwestern United States and was previously wholly owned by Duke Ventures.~~2(b))

~~Under the~~o Pre-commencement ~~Formation~~communications ~~and~~pursuant ~~Sale~~to ~~Agreement, Duke Ventures created Crescent Holdings, LLC~~ Rule 13e-4(~~“Crescent Holdings”~~c) and contributed to Crescent Holdings all of the membership interests in Crescent, which was ascribed an enterprise value of approximately $2.1 billion. Immediately following the contribution, Crescent entered into a credit agreement under ~~which Crescent borrowed approximately $1.2 billion. The net proceeds of approximately $1.2 billion under~~ the ~~borrowing~~Exchange ~~after~~Act ~~establishing~~(17 ~~reserves~~CFR ~~for transaction expenses and working capital were immediately distributed by Crescent to Crescent Holdings and immediately thereafter solely to Duke Ventures~~240. 13e-4(c))

~~Immediately following~~Item the debt transaction referred to above, under the Formation and Sale Agreement the MS Members collectively acquired from Duke Ventures a 49% membership interest in Crescent Holdings for a purchase price of approximately $415 million8. ~~Moreover, at the closing, Arthur W~~01. ~~Fields,~~Other the President and Chief Executive Officer of Crescent Holdings, acquired a 2% membership interest in Crescent Holdings for an amount equal to the pro rata equity valuation paid by the MS Members. Following such transactions, Crescent Holdings was held 49% by Duke Ventures, 49% by the MS Members and 2% by Mr. Fields.Events

~~Under~~As Spectra Energy Corp (“Spectra Energy” or the ~~governance~~“Company”) ~~documents~~has ~~relating~~previously disclosed, in conjunction with Duke Energy Corporation’s (“Duke Energy”) separation of its natural gas businesses (the “Separation”) to ~~Crescent~~Spectra ~~Holdings~~Energy, Spectra Energy will retain responsibilities for the ~~approval~~outstanding litigation associated with Sonatrach and Citrus Trading Corporation (“Citrus”). Duke Energy LNG Sales Inc. (“Duke LNG”), an indirect subsidiary of ~~material~~Spectra Energy after the Separation, claims in an arbitration commenced in ~~matters~~January ~~pertaining~~2001 toin London that Sonatrach, the ~~business~~Algerian state-owned energy company, together with its subsidiary, Sonatrading Amsterdam B.V. (Sonatrading), breached their shipping obligations under a liquefied natural gas (“LNG”) purchase agreement and related transportation agreements (the “LNG Agreements”) relating to Duke LNG’s purchase of ~~Crescent~~LNG from Algeria and its transportation by LNG tanker to Lake Charles, Louisiana. In conjunction with the LNG Agreements, Duke LNG entered into a natural gas purchase contract (the “Citrus Agreement”) with Citrus. Citrus is owned 50% by El Paso and 50% by CCE Holdings. CCE Holdings is owned ~~vested~~50% by Southern Union, 30% by EFS-PA, LLC (a subsidiary of General Electric), and 20% by other institutional investors. Citrus filed a lawsuit in March 2003 in the ~~Executive~~ ~~Committee~~U.S. District Court for the Southern District of ~~Crescent~~Texas against ~~Holdings,~~Duke ~~which~~LNG isand ~~comprised~~PanEnergy Corp alleging that Duke LNG breached the Citrus Agreement by failing to provide sufficient volumes of ~~five~~gas ~~members:~~to ~~two~~Citrus. Duke LNG ~~representatives~~contends that Sonatrach caused Duke LNG to experience a loss of LNG supply that affected Duke ~~Ventures~~LNG’s obligations and termination rights under the Citrus Agreement. Citrus seeks monetary damages and a judicial determination that Duke LNG did not experience such a loss. After Citrus filed its lawsuit, ~~two~~Duke ~~representatives~~LNG terminated the Citrus Agreement and filed a counterclaim asserting that Citrus had breached the agreement by, among other things, failing to provide sufficient security under a letter of credit for the MSgas ~~Members~~transactions. Citrus denies that Duke LNG had the right to terminate the agreement and contends that Duke LNG’s termination of the agreement was itself a breach, entitling Citrus ~~President~~to terminate the agreement and ~~Chief~~recover ~~Executive~~damages ~~Officer~~in the amount of ~~Crescent~~approximately $190 ~~Holdings~~million (excluding interest). The ~~approval~~Court has made rulings regarding the issues of ~~any~~fact and law that remain for trial, and the case is scheduled for a ~~matter~~jury bytrial to commence in January 2007. The final hearing on damages in the ~~Executive~~Sonatrach matter ~~Committee~~was ~~requires~~concluded in March 2006, and the ~~affirmative~~tribunal ~~vote~~issued its award on damages on November 30, 2006. Duke LNG was awarded approximately $23 million for Sonatrach’s breach of its shipping obligations. Sonatrach and Sonatrading were awarded a ~~majority~~smaller but unspecified amount that will, when calculated, be ofsubstantially less than the ~~members~~$23 ofmillion ~~the~~awarded ~~Executive~~to ~~Committee~~Duke LNG, and result ultimately in a net positive, but ~~such~~immaterial, ~~majority~~award ~~must~~to ~~include~~Duke atLNG. In December ~~least~~2006, ~~one~~Duke ~~representative~~LNG ofmade ~~Duke~~an ~~Ventures~~offer to Citrus to settle the Citrus matter. At present, no response to the settlement offer has been received from Citrus and ~~one~~it ~~representative~~is not possible to predict the ultimate outcome of the MSCitrus matter. In December ~~Members~~2006, Duke Capital will recognize a reserve in the amount of $45 million.

In ~~addition,~~December ~~on September 8,~~ 2006, Duke Energy ~~Corporation~~and ~~issued~~Duke Capital have had discussions with a ~~press~~potential ~~release~~buyer ~~relating~~of their assets in Bolivia. Such discussions to sell the Bolivian assets are subject to a binding agreement between the parties, which is expected in the ~~transactions~~near ~~contemplated~~future; byhowever, based upon the ~~Formation~~sales price ~~and~~included ~~Sale~~in ~~Agreement.~~these Adiscussions, ~~copy~~management of ~~the~~ ~~press~~Duke ~~release~~Energy isand ~~attached~~Duke toCapital anticipate ~~this~~recognizing ~~Current~~a ~~Report~~pretax onimpairment ~~Form~~of ~~8-K~~the asBolivian ~~Exhibit~~assets in December 992006 in the amount of approximately $50 million.1 The ~~and~~Bolivian isinvestments are ~~incorporated~~included in ~~its~~the ~~entirety~~businesses to be transferred from Duke Capital to Duke Energy in ~~this~~connection ~~Item~~with ~~1.01~~the ~~disclosure~~Separation byand, therefore, will not be a ~~reference~~component of Spectra Energy’s ongoing operations.

~~Item 9.01 Financial Statements and Exhibits.~~2

~~(d) Exhibits.~~SIGNATURE

2Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned hereunto duly authorized.

99.1 Press Release issued by Duke Energy Corporation on September 8, 2006.

	DUKE ENERGY CORPORATION


Date: December 22, 2006	By:	/s/Steven K. Young
	Name:	Steven K. Young
	Title:	Vice President and Controller

	SPECTRA ENERGY CORP


Date: December 22, 2006	By:	/s/Sabra L. Harrington
	Name:	Sabra L. Harrington
	Title:	Vice President and Controller

SIGNATURE

	DUKE CAPITAL LLC


Date: December 22, 2006	By:	/s/Steven K. Young
	Name:	Steven K. Young
	Title:	Chief Financial Officer and Controller

~~Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.~~3

	DUKE CAPITAL LLC
Date: September 13, 2006	By:		/s/ STEVEN K. YOUNG
		Name:		Steven K. Young
		Title:		Chief Financial Officer and Controller

EXHIBIT INDEX

Exhibit		Description
99.1		Press Release issued by Duke Energy Corporation on September 8, 2006.

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