Commission File Number | Registrant, State of Incorporation or Organization, Address of Principal Executive Offices, Telephone Number and Zip Code |
IRS Employer Identification No. | |||||||||
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1-32853 | DUKE ENERGY CORPORATION |
20-2777218 |
1-3382 | DUKE ENERGY PROGRESS, LLC | 56-0165465 |
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | ||||
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | ||||
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | ||||
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT: |
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Registrant | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | |||||||||||||||||
Duke Energy | Common Stock, $0.001 par value | DUK | New York Stock Exchange LLC | |||||||||||||||||
Duke Energy | 5.625% Junior Subordinated Debentures due September 15, 2078 | DUKB | New York Stock Exchange LLC | |||||||||||||||||
Duke Energy | Depositary Shares | DUK PR A | New York Stock Exchange LLC | |||||||||||||||||
each representing a 1/1,000th interest in a share of 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share | ||||||||||||||||||||
Duke Energy | 3.10% Senior Notes due 2028 | DUK 28A | New York Stock Exchange LLC | |||||||||||||||||
Duke Energy | 3.85% Senior Notes due 2034 | DUK34 | New York Stock Exchange LLC |
DUKE ENERGY CORPORATION | |||||
Date: April 28, 2023 | By: /s/ David S. Maltz |
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Name: David S. Maltz | |||||
Title: Vice President, Legal, Chief Governance Officer and Assistant Corporate Secretary |
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DUKE ENERGY PROGRESS, LLC | |||||
Date: April 28, 2023 | By: /s/ David S. Maltz |
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Name: David S. Maltz | |||||
Title: Vice President, Legal, Chief Governance Officer and Assistant Secretary |
($ in millions) | Historic Base Case | Year 1 -MYRP | Total Year 1 | ||||||||
Original requested revenue requirement increase | $219 | $107 | $326 | ||||||||
Post-filing, pre-Stipulation adjustments | 87 | (2) | 85 | ||||||||
Revised company requested revenue requirement increase | 306 | 105 | 411 | ||||||||
Agreed upon adjustments: | |||||||||||
Reduction in depreciation expense | (26) | (2) | (28) | ||||||||
Reduction due to transmission cost allocation | (20) | (20) | |||||||||
Extended amortization period for GIP deferral | (11) | (11) | |||||||||
Reduced contingency in MYRP projects | (4) | (4) | |||||||||
Change to in-service dates | (10) | 4 | (6) | ||||||||
Other revenue reductions | (20) | (2) | (22) | ||||||||
Total agreed upon adjustments | (87) | (4) | (91) | ||||||||
Company requested revenue requirement increase considering agreed upon items | $219 | $101 | $320 | ||||||||
Net annualized customer rate increase | 5.5% | 2.5% | 8.0% |
($ in millions) | Year 2 -MYRP | Year 3 -MYRP | Combined Total | ||||||||
Original requested revenue requirement increase | $151 | $138 | $615 | ||||||||
Post-filing, pre-Stipulation adjustments | (18) | 10 | 77 | ||||||||
Revised company requested revenue requirement increase | 133 | 148 | 692 | ||||||||
Agreed upon adjustments: | |||||||||||
Reduction in depreciation expense | (2) | (1) | (31) | ||||||||
Reduction due to transmission cost allocation | (20) | ||||||||||
Extended amortization period for GIP deferral | (11) | ||||||||||
Reduced contingency in MYRP projects | (7) | (8) | (19) | ||||||||
Change to in-service dates | 4 | 3 | 1 | ||||||||
Other revenue reductions | (1) | (2) | (25) | ||||||||
Total agreed upon adjustments | (6) | (8) | (105) | ||||||||
Company requested revenue requirement increase considering agreed upon items | $127 | $140 | $587 | ||||||||
Net annualized customer rate increase | 3.2% | 3.5% | 14.7% |