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As Of Filer Filing For·On·As Docs:Size Issuer Filing Agent 4/19/21 Duke Energy Corp. 8-K:7,9 4/16/21 12:329K Toppan Merrill/FA Duke Energy Progress, LLC. |
Document/Exhibit Description Pages Size 1: 8-K Current Report HTML 53K 2: EX-99.1 Miscellaneous Exhibit HTML 25K 8: R1 Cover HTML 63K 10: XML IDEA XML File -- Filing Summary XML 13K 7: XML XBRL Instance -- tm2113358d1_8k_htm XML 32K 9: EXCEL IDEA Workbook of Financial Reports XLSX 7K 3: EX-101.DEF XBRL Definitions -- duk-20210416_def XML 77K 5: EX-101.LAB XBRL Labels -- duk-20210416_lab XML 114K 6: EX-101.PRE XBRL Presentations -- duk-20210416_pre XML 74K 4: EX-101.SCH XBRL Schema -- duk-20210416 XSD 17K 11: JSON XBRL Instance as JSON Data -- MetaLinks 28± 37K 12: ZIP XBRL Zipped Folder -- 0001104659-21-051629-xbrl Zip 25K
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): i April 16, 2021
| Commission file number | Registrant, State of Incorporation or Organization, Address of Principal Executive Offices and Telephone Number |
IRS Employer Identification Number |
 |
||
| i 1-32853 |
i Charlotte, i North Carolina i 28202-1803
|
i 20-2777218 |
i 1-3382 |
(an i North Carolina limited liability company) |
|
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:
| i ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| i ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| i ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| i ¨ | 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:
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).
c
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. ¨
C:
Item 7.01. Regulation FD Disclosure.
On April 16, 2021, the North Carolina Utilities Commission (the “NCUC”) issued an order (the “Order”) approving previous settlements reached by Duke Energy Progress, LLC (“DEP”), the North Carolina Public Staff (the “Public Staff”) and other parties on June 2, 2020, and July 31, 2020, which resolved certain issues in DEP’s base rate case proceeding originally filed with the NCUC on October 30, 2019. These issues include a return on equity of 9.6% based upon a capital structure of 52% equity and 48% debt, deferral treatment for approximately $0.4 billion of grid improvement projects with a return, Unprotected Federal Excess Deferred Income Taxes flow back period of 5 years, and the reasonableness and prudence of $714 million of deferred storm costs, which were removed from the rate case and for which DEP filed a petition seeking to securitize the costs in October 2020. DEP expects a financing order from the NCUC in May and the securitization transaction to close in the third quarter of 2021.
In addition, the Order approved without modification the Agreement and Stipulation of Partial Settlement of DEP and Duke Energy Carolinas, LLC, the Public Staff, the North Carolina Attorney General’s Office and the Sierra Club, filed with the NCUC on January 25, 2021, which resolved all coal ash prudence and cost recovery issues through early 2030, including in DEP’s 2019 base rate case proceeding, as well as the equitable sharing issue on remand from DEP’s 2017 North Carolina rate case as a result of the December 11, 2020, North Carolina Supreme Court decision.
The Order denied the proposal of DEP to shorten the remaining depreciable lives of certain of DEP’s coal-fired generating units, indicating that DEP’s integrated resource planning proceeding was the appropriate proceeding for the review of generating plant retirements.
An overview providing additional detail of the Order is attached to this Form 8-K as Exhibit 99.1. The information in Exhibit 99.1 is being furnished pursuant to this Item 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. |
| 99.1 | Duke Energy Progress Summary of Order Issued by the North Carolina Utilities Commission |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
C:
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: April 19, 2021 | By: | /s/ David S. Maltz |
| Name: | David S. Maltz | |
| Title: | Vice President, Legal, Chief Governance Officer and Assistant Corporate Secretary | |
| DUKE ENERGY PROGRESS, LLC | ||
| Date: April 19, 2021 | By: | /s/ David S. Maltz |
| Name: | David S. Maltz | |
| Title: | Vice President, Legal, Chief Governance Officer and Assistant Secretary | |
C:
| Co-Registrant CIK | 0000017797 |
| Co-Registrant Amendment Flag | false |
| Co-Registrant Form Type | 8-K |
| Co-Registrant DocumentPeriodEndDate | 2021-04-16 |
| 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 |
| This ‘8-K’ Filing | Date | Other Filings | ||
|---|---|---|---|---|
 | ||||
| Filed on: | 4/19/21 | |||
| For Period end: | 4/16/21 | |||
| 1/25/21 | 8-K | |||
| 12/11/20 | 8-K | |||
| 7/31/20 | 8-K | |||
| 6/2/20 | 10-Q/A, 8-K | |||
| 10/30/19 | 4, 8-K | |||
| List all Filings | ||||