Duke Energy Carolinas, LLC
(Docket No. E-7 Sub 1243)
and
Duke Energy Progress, LLC
(Docket No. E-2 Sub 1262)

Joint Petition for Issuance of Storm Recovery Financing Orders

January 28, 2021
10:00 a.m.
Remote via Webex


Newly enacted North Carolina General Statute 62-172 authorizes the Commission to grant the request of a petitioning electric utility to issue storm recovery bonds to finance the utility’s storm recovery costs. In the joint petition the two Duke utilities seek authority from the Commission to finance their storm recovery costs due to Hurricanes Florence, Michael, and Dorian, and Winter Storm Diego.

Duke Energy Carolinas seeks to recover through the securitization process about $230.8 million in storm recovery costs. Duke Energy Progress seeks to recover about $748 million. The Companies state in their joint petition that the securitization of storm costs could save 32 percent for DEC customers and 33 percent for DEP customers.

The hearing on January 28, 2021, is for the purpose of hearing expert witness testimony. There will not be an opportunity for members of the public to speak at this hearing, but they may observe.

Members of the public can submit written statements to the Commission via email. Be sure to include the docket number in the subject line. Another option is to mail a statement to the Commission at the address below. In either case, after two or three business days, statements are made part of the official record for the proceeding, and can be viewed on this website via Docket No. E-2 Sub 1262 and/or Docket No. E-7 Sub 1243.

The Public Staff – North Carolina Utilities Commission is a separate, independent agency that represents the using and consuming public in matters before the Commission, including this one. You can send the Public Staff a statement, or ask them a question, via email.

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