Current Report Filing (8-k)
June 02 2020 - 4:03PM
Edgar (US Regulatory)
0001326160
false
0000030371
false
8-K
2020-06-02
false
false
false
false
false
0000017797
false
8-K
2020-06-02
false
false
false
false
false
0001326160
2020-06-01
2020-06-02
0001326160
duk:DukeEnergyProgressMember
2020-06-01
2020-06-02
0001326160
us-gaap:CommonStockMember
2020-06-01
2020-06-02
0001326160
duk:JuniorSubordinatedDebentures5.125CouponDueJanuary2073Member
2020-06-01
2020-06-02
0001326160
duk:JuniorSubordinatedDebentures5.625CouponDueSeptember2078Member
2020-06-01
2020-06-02
0001326160
duk:DepositoryShareMember
2020-06-01
2020-06-02
0001326160
duk:DukeEnergyCarolinasMember
2020-06-01
2020-06-02
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED STATES
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
Date of Report (Date of earliest event reported):
June 2, 2020
Commission file
number
|
Registrant, State of Incorporation or Organization,
Address of Principal Executive Offices, and Telephone Number
|
IRS Employer
Identification No.
|
|
|
|
1-32853
|
DUKE ENERGY CORPORATION
(a Delaware corporation)
550 South Tryon Street
Charlotte, North Carolina 28202-1803
704-382-3853
|
20-2777218
|
1-3382
|
DUKE ENERGY PROGRESS, LLC
(an North Carolina limited liability company)
410 South Wilmington Street
Raleigh, North Carolina 27601-1748
704-382-3853
|
56-0165465
|
|
|
|
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:
¨
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:
Title of each class
|
|
Trading
Symbol(s)
|
|
Name of each exchange on which registered
|
Common stock, $0.001 par value
|
|
DUK
|
|
New York Stock Exchange LLC
|
5.125% Junior Subordinated Debentures due January 15, 2073
|
|
DUKH
|
|
New York Stock Exchange LLC
|
5.625% Junior Subordinated Debentures due September 15, 2078
|
|
DUKB
|
|
New York Stock Exchange LLC
|
Depositary Shares, 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
|
|
DUK PR A
|
|
New York Stock Exchange LLC
|
Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Co-Registrant CIK
|
0000030371
|
Co-Registrant Amendment Flag
|
false
|
Co-Registrant Form Type
|
8-K
|
Co-Registrant DocumentPeriodEndDate
|
2020-06-02
|
Co-Registrant Written Communications
|
false
|
Co-Registrant Solicitating Materials
|
false
|
Co-Registrant PreCommencement Tender Offer
|
false
|
Co-Registrant PreCommencement Issuer Tender Offer
|
false
|
Co-Registrant Emerging Growth Company
|
false
|
Co-Registrant CIK
|
0000017797
|
Co-Registrant Amendment Flag
|
false
|
Co-Registrant Form Type
|
8-K
|
Co-Registrant DocumentPeriodEndDate
|
2020-06-02
|
Co-Registrant Written Communications
|
false
|
Co-Registrant Solicitating Materials
|
false
|
Co-Registrant PreCommencement Tender Offer
|
false
|
Co-Registrant PreCommencement Issuer Tender Offer
|
false
|
Co-Registrant Emerging Growth Company
|
false
|
Item 8.01. Other Events.
On June 2, 2020, Duke Energy Progress, LLC
(“DEP”) reached a partial settlement with the Public Staff – North Carolina Utilities Commission (the
“Public Staff”) in connection with DEP’s general rate case filed with the North Carolina Utilities
Commission (the “NCUC”) on October 30, 2019. In DEP’s initial rate case application, it sought to
recover costs related to Hurricanes Florence, Michael, Dorian, and Winter Storm Diego (“Deferred Storm
Costs”). Pursuant to the partial settlement, the parties agreed that (1) DEP will remove its request for recovery
of its Deferred Storm Costs in the rate case; (2) file a petition for a securitization financing order for its Deferred Storm
Costs no later than 120 days from the issuance of an order by the NCUC in the rate case in which the NCUC makes findings and
conclusions regarding Deferred Storm Costs and the partial settlement; (3) a recovery rider related to Deferred Storm Costs,
initially to be set at $0, will be established in the rate case; and (4) if DEP does not file a petition for a securitization
financing order or is unable to recover the Deferred Storm Costs through securitization, DEP may request recovery of Deferred
Storm Costs from the NCUC by filing a petition requesting an adjustment to the recovery rider outside a general rate case
proceeding. The parties agreed to certain assumptions to demonstrate the quantifiable benefits to customers of a
securitization financing. The parties also agreed to certain accounting adjustments related to the rate case.
The partial settlement does not include an agreement on coal
ash recovery, return on equity, capitalization structure, depreciation rates, the grid improvement plan, or the return of unprotected
Excess Deferred Income Tax (EDIT) balances, among other items. The Stipulation is subject to the review and approval of the
NCUC. An overview providing additional detail on the filing is attached to this Form 8-K as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
104
|
Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).
|
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned
hereunto duly authorized.
|
DUKE ENERGY CORPORATION
|
|
|
Date: June 2, 2020
|
By:
|
/s/ David S. Maltz
|
|
Name:
|
David S. Maltz
|
|
Title:
|
Assistant Corporate Secretary
|
|
|
|
|
|
|
|
DUKE ENERGY PROGRESS, LLC
|
|
|
Date: June 2, 2020
|
By:
|
/s/ David S. Maltz
|
|
Name:
|
David S. Maltz
|
|
Title:
|
Vice President, Legal, Assistant Secretary and Chief Governance Officer
|
Duke Energy (NYSE:DUKH)
Historical Stock Chart
From May 2024 to Jun 2024
Duke Energy (NYSE:DUKH)
Historical Stock Chart
From Jun 2023 to Jun 2024
Real-Time news about Duke Energy Corporation (New York Stock Exchange): 0 recent articles
More Duke Energy Corp News Articles