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Combining Duke Energy Carolinas and Duke Energy Progress projected to save customers over $1B in future costs
Today, Duke Energy asked state and federal regulators for permission to combine its two electric utilities in the Carolinas. Planned for years, the combination is projected to result in billions of dollars in customer savings.
About this update from Duke Energy Corporation (holding Company)
[{"type":"list","items":[{"val":[{"type":"text","content":"Filed today for approval with state and federal regulators, operating as one utility could save customers even more than the $1 billion in cost savings already achieved since 2012","length":179,"tagName":"p"}]},{"val":[{"type":"text","content":"If approved, no bill or service changes would occur to retail rates before 2027 due to the combination","length":102,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":281,"olType":false},{"type":"text","content":"CHARLOTTE, N.C., Aug. 14, 2025 /PRNewswire/ -- Today, Duke Energy asked state and federal regulators for permission to combine its two electric utilities in the Carolinas. Planned for years, the combination is projected to result in billions of dollars in customer savings.","length":278,"tagName":"p"},{"type":"image","alt":"Duke Energy logo (PRNewsfoto/Duke Energy)","displaySize":"","headline":null,"caption":"Duke Energy logo (PRNewsfoto/Duke Energy)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":128,"url":"https://media.zenfs.com/en/prnewswire.com/829a69c01f1ce34f867ba8075a40a22b"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/AZkz2p7IVk.0RFE.fpGQ7Q--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTIyNjtjZj13ZWJw/https://media.zenfs.com/en/prnewswire.com/829a69c01f1ce34f867ba8075a40a22b","width":400,"height":128}},"href":"https://mma.prnewswire.com/media/660545/Duke_Energy_New_Logo.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) have operated as separate utilities since the 2012 merger of Duke Energy and Progress Energy. Although legally considered a merger, the proposed combination is more in line with reorganizing two corporate divisions into one. This strategic reorganization will create a single utility, streamlining operations and significantly reducing costs for customers. Subject to approval, the targeted effective date of the combination is Jan. 1, 2027.","length":500,"tagName":"p"},{"type":"text","content":"Our view:","length":9,"tagName":"p"},{"type":"text","content":""Combining our two utilities reduces customer costs, simplifies operations, supports economic growth and promotes regulatory efficiencies, all of which will create value for customers in both states," said Kodwo Ghartey-Tagoe, executive v...