Overview

• On Aug. 14, Duke Energy submitted applications to the North Carolina Utilities Commission, Public Service Commission of South Carolina and Federal Energy Regulatory Commission to merge Duke Energy Carolinas and Duke Energy Progress effective Jan. 1, 2027.
• The company’s testimony forecasts approximately $3.2 billion in system-wide savings and more than $1 billion in retail customer savings through 2038.
• The merger is expected to incur about $143 million in transaction costs and will not trigger immediate retail rate or service changes, with DEC and DEP rates blending gradually through future state rate cases.
• ‘Share the Benefits’ provisions would have wholesale customers contribute $55 million annually for five years and North Carolina retail customers $25 million annually for six years to offset short-term impacts on South Carolina ratepayers.
• Duke Energy says combining the utilities will improve planning efficiency, enhance grid reliability and reduce the need to curtail solar production due to congestion or oversupply.