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Duke Energy Corp, et al. – ‘8-K’ for 3/31/21

On:  Thursday, 4/1/21, at 1:15pm ET   ·   For:  3/31/21   ·   Accession #:  1104659-21-45429   ·   File #s:  1-04928, 1-32853

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 4/01/21  Duke Energy Corp                  8-K:7,9     3/31/21   12:331K                                   Toppan Merrill/FA
          Duke Energy Carolinas, LLC

Current Report   —   Form 8-K   —   Sect. 13 / 15(d) – SEA’34
Filing Table of Contents

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 -- tm2111251d2_8k_htm                  XML     32K 
 9: EXCEL       IDEA Workbook of Financial Reports                  XLSX      7K 
 4: EX-101.DEF  XBRL Definitions -- duk-20210331_def                 XML     77K 
 5: EX-101.LAB  XBRL Labels -- duk-20210331_lab                      XML    114K 
 6: EX-101.PRE  XBRL Presentations -- duk-20210331_pre               XML     74K 
 3: EX-101.SCH  XBRL Schema -- duk-20210331                          XSD     17K 
11: JSON        XBRL Instance as JSON Data -- MetaLinks               28±    37K 
12: ZIP         XBRL Zipped Folder -- 0001104659-21-045429-xbrl      Zip     25K 

‘8-K’   —   Current Report

This is an HTML Document rendered as filed.  [ Alternative Formats ]

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Washington, D.C. 20549


FORM  i 8-K



Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934


Date of Report (Date of earliest event reported):  i March 31, 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


(a  i Delaware corporation)

 i 550 South Tryon Street

 i Charlotte,  i North Carolina  i 28202-1803

 i 704- i 382-3853


 i 20-2777218
 i 1-4928


(a  i North Carolina limited liability company)

 i 526 South Church Street

 i Charlotte,  i North Carolina  i 28202-1803

 i 704- i 382-3853

 i 56-0205520


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))




Registrant   Title of each class   Trading
  Name of each exchange on which registered
Duke Energy    i Common Stock, $0.001 par value    i DUK    i New York Stock Exchange LLC
Duke Energy    i 5.125% Junior Subordinated Debentures due January 15, 2073    i DUKH    i New York Stock Exchange LLC
Duke Energy    i 5.625% Junior Subordinated Debentures due September 15, 2078    i DUKB    i New York Stock Exchange LLC
Duke Energy    i 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    i DUK PR A    i 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  i ¨


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. ¨








Item 7.01. Regulation FD Disclosure.


On March 31, 2021, the North Carolina Utilities Commission (the “NCUC”) issued an order approving without modification previous settlements reached by Duke Energy Carolinas, LLC (“DEC”), the North Carolina Public Staff (the “Public Staff”) and other parties on March 25, 2020, and July 31, 2020, which resolved certain issues in DEC’s base rate case proceeding originally filed with the NCUC on September 31, 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 $0.8 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 $213 million of deferred storm costs which were removed from the rate case and for which DEC filed a petition seeking to securitize the costs in October 2020. DEC expects a financing order from the NCUC in May and the securitization transaction to close in the third quarter of 2021.


In addition, the March 31, 2021 NCUC order approved without modification the Agreement and Stipulation of Partial Settlement of DEC and Duke Energy Progress, 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 DEC’s 2019 base rate case proceeding, as well as the equitable sharing issue on remand from DEC’s 2017 North Carolina rate case as a result of the December 11, 2020, North Carolina Supreme Court opinion.


The order denied DEC’s proposal to shorten the remaining depreciable lives of certain of DEC’s coal-fired generating plants, indicating that DEC’s integrated resource planning proceeding was the appropriate proceeding for the review of generating plant retirements.


An overview providing additional detail on 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.




99.1Duke Energy Carolinas Summary of Order Issued by the North Carolina Utilities Commission
104Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document).








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.


Date: April 1, 2021 By: /s/ David S. Maltz            
  Name: David S. Maltz
  Title: Vice President, Legal, Chief Governance Officer and Assistant Corporate Secretary
Date: April 1, 2021 By: /s/ David S. Maltz
  Name: David S. Maltz
  Title: Vice President, Legal, Chief Governance Officer and Assistant Secretary





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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

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘8-K’ Filing    Date    Other Filings
Filed on:4/1/218-K,  PX14A6G
For Period end:3/31/21
 List all Filings 
Filing Submission 0001104659-21-045429   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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