Last week, the nation’s third-largest utility, Duke Energy (DUK) filed an application for $200 million in federal stimulus funds to bolster its $1 billion smart grid initiative in Ohio, Indiana, and Kentucky. Today the company is announcing that it has found a partner to supply the guts for the project — and it’s not who you might think. More

Former vice president Al Gore, who sits on Apple's compensation committee and supervised the company's internal investigation of its option backdating case, has been granted options to buy 10,000 shares of Apple (AAPL) at the strike price of $129.67, according to Jonny Evans at Macworld UK.

With Apple shares closing at $140.98 Tuesday night, the options would be worth $113,100 if exercised today. Should Apple reach its 2007 high of 202.96 before the options expire in 10 years, the grant would be worth more than $730,000, not counting taxes.

Gore, who describes himself as a "recovering politician," has won the Nobel Peace Prize and an Academy Award since leaving office. He took a seat on the Apple board in 2003 and co-founded the cable network Current TV in 2004. He also advises Google (GOOG) and venture capital firm Kleiner Perkins Caufield & Byers.

Bloomberg News reports that in January, Gore exercised options to buy 1,000 shares at $7.48, reaping a potential profit of more than $124,000.