Duke Energy applies for Department of Energy loans that represent potentially billions of dollars in customer savings

CHARLOTTE, N.C., May 11, 2026 /PRNewswire/ -- Duke Energy today announced it submitted an application for loans from the U.S. Department of Energy (DOE) that represent potentially billions of dollars in customer savings as the company strengthens the electric grid, adds capacity and reliably serves some of the fastest-growing states in the country. This application to the DOE is the first step in a process to negotiate the final loan amount and stipulations.

What this means: Duke Energy is applying for DOE loans to support planned investments to reliably meet rising energy demand at the lowest cost to customers:

• DOE financing would reduce interest costs for these critical investments and deliver direct customer benefits.
• DOE financing is expected to save customers money through lower financing costs.

Duke Energy's state-regulated, integrated utility model enables reduced financing costs to flow directly to customers while supporting reliable service and measurable value. Coordinated planning and operation of the entire electric system under strong regulatory oversight help ensure investments are prudent and keep customer costs down. As a result of this structure, rates in all of our vertically integrated states are below the national average.

Why this matters: Today's announcements represent the company's latest effort to leverage federal support and other measures to save customers money. This month, the company announced it was delivering more than $5 billion in cost-saving benefits to customers from the combination of its Carolinas utilities and tax-credit savings, including nuclear and solar production tax credits and investment tax credits expected to be generated between 2025 and 2028 in Florida and the Carolinas.

Our view: "Delivering reliable power at the lowest possible cost is central to every decision we make," said Harry Sideris, president and CEO of Duke Energy. "That means pursuing every opportunity like federal loans when they can help reduce costs for customers. As energy demand continues to grow, our focus is on strengthening the system, investing responsibly and ensuring customers see the benefit of those investments now and into the future."

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.7 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,700 megawatts of energy capacity. Its natural gas utilities serve 1.6 million customers in North Carolina, South Carolina, Ohio and Kentucky.

Duke Energy is executing an energy modernization strategy, keeping customer value at the forefront as it invests in electric grid upgrades and efficient generation resources to strengthen the system and serve growing energy needs.

More information is available at duke-energy.com. Follow Duke Energy on X, LinkedIn, Instagram, TikTok and Facebook for stories about the people and innovations powering its communities.

Contact: Riley Cook
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SOURCE Duke Energy