PR Newswire·May 11, 2026, 10:30 AM ET

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

Duke Energy submitted an application to the U.S. Department of Energy for loans potentially worth billions of dollars to strengthen the electric grid & add capacity.
This application initiates a negotiation process to determine the final loan amount & stipulations.
DOE financing aims to reduce interest costs for critical investments, delivering direct customer savings through lower financing expenses.
The company's state-regulated, integrated utility model ensures reduced financing costs flow to customers while maintaining reliable service under regulatory oversight.
Rates in Duke Energy's vertically integrated states remain below the national average due to coordinated planning & operation.
The company recently announced over $5 billion in cost-saving benefits from combining Carolinas utilities & tax credits expected between 2025-2028.
CEO Harry Sideris emphasized that pursuing federal loan opportunities is central to the strategy of delivering reliable power at the lowest possible cost.
Duke Energy serves 8.7 million electric customers across six states with 55,700 megawatts of capacity & natural gas utilities serving 1.6 million customers.
The company is executing an energy modernization strategy focused on grid upgrades & efficient generation resources to meet growing energy needs.