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    Duke Energy Corp (DUK)

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    Duke Energy is a leading energy company that operates primarily through two main segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). The company is engaged in providing regulated electric utilities and natural gas services across various regions, including the Carolinas, Florida, the Midwest, Ohio, and Kentucky. Duke Energy focuses on delivering reliable, affordable, and increasingly clean energy, with significant investments in modernizing infrastructure and expanding efficiency and demand management programs .

    1. Electric Utilities and Infrastructure (EU&I) - Provides regulated electric utilities in the Carolinas, Florida, and the Midwest, and invests in electric transmission infrastructure and offshore wind contracts.
    2. Gas Utilities and Infrastructure (GU&I) - Comprises natural gas local distribution companies in Ohio and Kentucky, along with investments in natural gas storage, midstream pipeline, and renewable natural gas.
    NamePositionExternal RolesShort Bio

    Lynn J. Good

    ExecutiveBoard

    Chair and Chief Executive Officer

    None mentioned

    Lynn J. Good is the Chair and CEO of Duke Energy. She has been in this role since 2013 and leads the company’s strategy and operations.

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    Cynthia S. Lee

    Executive

    Vice President, Chief Accounting Officer, and Controller

    None mentioned

    Cynthia S. Lee joined Duke Energy in 2002 and became VP, Chief Accounting Officer, and Controller in May 2021. She previously served as Director of Investor Relations.

    Harry K. Sideris

    Executive

    President and Chief Executive Officer

    None mentioned

    Harry K. Sideris has been with Duke Energy for 29 years and became President and CEO effective April 1, 2025.

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    Julia S. Janson

    Executive

    Executive Vice President and Chief Executive Officer, Duke Energy Carolinas

    None mentioned

    Julia S. Janson has been with Duke Energy since 2012 and became EVP and CEO of Duke Energy Carolinas in May 2021.

    Kodwo Ghartey-Tagoe

    Executive

    Executive Vice President, Chief Legal Officer, and Corporate Secretary

    None mentioned

    Kodwo Ghartey-Tagoe joined Duke Energy in 2002 and became EVP and Chief Legal Officer in October 2019. He previously served as President of South Carolina operations.

    Louis E. Renjel

    Executive

    Executive Vice President, External Affairs and Communications

    None mentioned

    Louis E. Renjel joined Duke Energy in 2017 and became EVP of External Affairs and Communications in March 2023.

    R. Alexander Glenn

    Executive

    Executive Vice President and Chief Executive Officer, Duke Energy Florida and Midwest

    None mentioned

    R. Alexander Glenn joined Duke Energy in 2012 and became EVP and CEO of Florida and Midwest operations in March 2023.

    Steven K. Young

    Executive

    Executive Vice President and Chief Commercial Officer

    None mentioned

    Steven K. Young joined Duke Energy in 1980 and became EVP and Chief Commercial Officer in September 2022.

    T. Preston Gillespie

    Executive

    Executive Vice President, Chief Generation Officer, and Head of Enterprise Operational Excellence

    None mentioned

    T. Preston Gillespie has been with Duke Energy since 1987. He oversees generation strategy and operational excellence.

    Annette K. Clayton

    Board

    Director

    NXP Semiconductors (Board Member), Nordson Corporation (Board Member effective April 1, 2024)

    Annette K. Clayton joined Duke Energy’s board in 2019. She is the former CEO of Schneider Electric North America.

    Derrick Burks

    Board

    Director

    Equity LifeStyle Properties (Board Member), Kite Realty Group Trust (Board Member)

    Derrick Burks joined Duke Energy’s board in 2022. He is a retired managing partner of Ernst & Young’s Indianapolis office.

    E. Marie McKee

    Board

    Director

    None mentioned

    E. Marie McKee joined Duke Energy’s board in 2012. She is a retired SVP of Human Resources and President of Steuben Glass at Corning Incorporated.

    Idalene F. Kesner

    Board

    Director

    Berry Global Group (Board Member), Olympic Steel (Board Member), Lincoln Industries (Board of Advisors)

    Idalene F. Kesner joined Duke Energy’s board in 2021. She is Dean Emerita of the Indiana University Kelley School of Business.

    John T. Herron

    Board

    Director

    Ontario Power Generation (Board Member)

    John T. Herron joined Duke Energy’s board in 2013. He is a retired President, CEO, and Chief Nuclear Officer of Entergy Nuclear.

    Michael J. Pacilio

    Board

    Director

    None mentioned

    Michael J. Pacilio joined Duke Energy’s board in 2021. He is a retired EVP and COO of Exelon Generation.

    Nicholas C. Fanandakis

    Board

    Director

    FTI Consulting (Board Member), ITT Inc. (Board Member, not standing for re-election after May 2024)

    Nicholas C. Fanandakis joined Duke Energy’s board in 2019. He is a retired EVP and CFO of DuPont.

    Theodore F. Craver Jr.

    Board

    Independent Lead Director (transitioning to Independent Chair on April 1, 2025)

    Wells Fargo & Company (Board Member), Blackstone (Senior Advisor), Bain & Company (Senior Advisor)

    Ted Craver has been a director at Duke Energy since 2017 and is the current Independent Lead Director. He is a retired Chairman, President, and CEO of Edison International.

    Thomas E. Skains

    Board

    Director

    National Fuel Gas Company (Board Member), Truist Financial Corporation (Board Member)

    Thomas E. Skains joined Duke Energy’s board in 2016. He is the retired Chairman, President, and CEO of Piedmont Natural Gas.

    1. With your expectation of increased capital expenditures due to grid hardening and generation investments, how do you plan to finance these without issuing additional equity, and what will be the impact on your balance sheet and credit metrics?
    2. Considering the impact of the three recent hurricanes on your earnings and the lack of recovery mechanisms for lost revenues, how will these storms affect your near-term earnings and FFO to debt ratios, and what specific mitigation measures are you implementing to offset these impacts?
    3. As you prepare to file updated resource plans in the Carolinas next year, especially with potential deferrals of natural gas additions, how might changes in resource planning affect your long-term generation mix and capital expenditures?
    4. Given the significant risks associated with first-of-a-kind SMR projects, how do you plan to manage these risks and protect investors and customers from potential cost overruns and balance sheet impacts?
    5. With a slower rebound in certain industrial sectors and recovery timing shifting into 2025, how confident are you in achieving load growth at the top end of your 1.5% to 2% CAGR through 2028, and what steps are you taking to address this slowdown?
    YearAmount Due (in millions)Debt TypeInterest Rate (%)% of Total Debt
    20253,597Unsecured and Secured DebtVarious (0.900% - 6.900%) 4.5% = (3,597 / 80,121) * 100
    2027600Unsecured Debt4.850% 0.7% = (600 / 80,121) * 100
    2029650Unsecured Debt4.850% 0.8% = (650 / 80,121) * 100
    2031815Unsecured Debt5.648% 1.0% = (815 / 80,121) * 100
    2034750Unsecured Debt5.450% 0.9% = (750 / 80,121) * 100
    2035375Unsecured Debt5.100% 0.5% = (375 / 80,121) * 100
    2054750Unsecured Debt5.800% 0.9% = (750 / 80,121) * 100
    2073200First Mortgage Bonds5.005% 0.2% = (200 / 80,121) * 100
    2074173First Mortgage Bonds5.008% 0.2% = (173 / 80,121) * 100
    NameStart DateEnd DateReason for Change
    Deloitte & Touche LLP1947 PresentCurrent auditor

    Notable M&A activity and strategic investments in the past 3 years.

    CompanyYearDetails

    Duke Energy Indiana, LLC

    2022

    Completed minority investment where DEI Holdco issued additional membership interests equal to 8.85% for $1,025,000,000 on December 22, 2022, adding to an earlier 11.05% purchase and resulting in a 19.9% total stake. The transaction was executed under an Investment Agreement with Epsom Investment Pte. Ltd., an affiliate of GIC, aligning with strategic investment plans.

    Recent press releases and 8-K filings for DUK.

    Duke Energy Reports Strong Q1 2025 Performance & Strategic Initiatives
    DUK
    Earnings
    Guidance Update
    New Projects/Investments
    M&A
    Debt Issuance
    • Duke Energy reported adjusted EPS of $1.76 in Q1 2025 (up from $1.44 in Q1 2024, a 22% improvement) .
    • The company reaffirmed its full-year guidance of $6.17–$6.42 (midpoint $6.30) .
    • Capital investments exceeded $3 billion in Q1 with a full-year target of $15 billion, underscoring its commitment to infrastructure and growth .
    • Advanced its generation strategy by extending the Oconee nuclear station license by 20 years and launching uprate initiatives adding over 1 GW capacity to bolster long-term performance .
    • Plans to merge DEC and DEP utilities are expected to generate over $1 billion in customer savings, targeted for January 2027 .
    • Segment income surged with Electric Utilities/Infrastructure at $1,276 million and Gas Utilities/Infrastructure at $349 million, with long-term growth projected at 5–7% through 2029 .
    • The company enhanced its financial profile by raising $3.2 billion in long-term debt at an average rate of 5.0% and maintaining approximately $8.1 billion in liquidity as of March 31, 2025 .
    3 days ago
    Duke Energy Announces Key Leadership Appointments
    DUK
    Management Change
    CEO Change
    • Julie Janson, EVP and CEO of Duke Energy Carolinas, will retire on July 1, 2025, marking the end of her 37-year career with the company.
    • Kodwo Ghartey-Tagoe will succeed Janson as EVP and CEO of Duke Energy Carolinas, with additional appointments for Alex Glenn, Louis Renjel, and Cameron McDonald to bolster the leadership team.
    4 days ago
    Duke Energy Advances Modernization and Declares Dividends
    DUK
    New Projects/Investments
    Proxy Vote Outcomes
    Dividends
    • Duke Energy outlined a clear path for record load growth with an $83 billion capital plan over the next five years to modernize its infrastructure .
    • The company invested in grid improvements that helped avoid over 2.3 million customer outages and 11 million hours of outage time, while advancing rate cases approving $45 billion in future investments .
    • Amid a historic hurricane season, Duke Energy bolstered operational excellence with over $10 billion in grid resiliency investments in the last three years .
    • Duke Energy declared a quarterly cash dividend of $1.045 per common share, payable on June 16, 2025, with a record date of May 16, 2025 .
    • The announcement also included a dividend for its Series A preferred stock of $359.375 per share (equivalent to $0.359375 per depositary share), marking 99 consecutive years of dividend payments on common stock .
    7 days ago
    Duke Energy Announces GE Vernova Partnership for Gas Turbines
    DUK
    New Projects/Investments
    • Duke Energy and GE Vernova have partnered to secure up to 11 gas turbines (in addition to eight already secured) to support energy modernization and meet growing customer demand.
    • The arrangement leverages GE Vernova’s major U.S. manufacturing expansion, including a nearly $600 million investment in Greenville, S.C., to reduce costs and accelerate project timelines.
    Apr 24, 2025, 4:29 PM
    Duke Energy Appoints New CEO and Enhances Board Leadership
    DUK
    CEO Change
    Board Change
    Management Change
    • Harry Sideris has been named CEO and joined Duke Energy's board effective April 1, 2025, succeeding Lynn Good who is retiring after over two decades of service.
    • Sideris, previously serving as president since April 2024, will continue in that role while leading an $83-billion five-year capital plan focused on infrastructure investments.
    • Additionally, Ted Craver has been appointed as board chair, marking a key board change as he transitions from his previous role as lead independent director.
    Apr 1, 2025, 2:00 PM
    Duke Energy Extends Operations of Oconee Nuclear Station
    DUK
    New Projects/Investments
    • Duke Energy has received NRC approval to extend the operating license of its Oconee Nuclear Station by 20 years, allowing operations until 2053/2054.
    • The extension marks the first subsequent license renewal, positioning the plant to support growing regional energy demand and customer affordability as part of Duke Energy’s broader clean energy strategy.
    Mar 31, 2025, 8:30 PM
    Duke Energy Amends Credit Facility Terms
    DUK
    Debt Issuance
    • Duke Energy Corp and its subsidiaries entered into Amendment No. 2 and Consent effective March 14, 2025, revising the existing credit agreement with key lenders.
    • The amendment increases the credit facility from $9,000,000,000 to $10,000,000,000 and extends the termination date to March 16, 2030.
    Mar 17, 2025, 12:00 AM