# EDGAR Filing Document

**Accession Number:** 0000017797
**File Stem:** 0001104659-25-103832
**Filing Date:** 2025-10
**Character Count:** 12808
**Document Hash:** 9adefdee24dba1584e6e93383c3558fc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-25-103832.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0001104659-25-103832

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20251027

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251029

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Duke Energy CORP
- **CENTRAL INDEX KEY:** 0001326160
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 202777218
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-32853
- **FILM NUMBER:** 251431465

**BUSINESS ADDRESS:**
- **STREET 1:** 525 SOUTH TRYON STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202-1803
- **BUSINESS PHONE:** 800-488-3853

**MAIL ADDRESS:**
- **STREET 1:** 525 SOUTH TRYON STREET
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28202-1803

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Duke Energy Holding Corp.
- **DATE OF NAME CHANGE:** 20050628

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Deer Holding Corp.
- **DATE OF NAME CHANGE:** 20050504
**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** DUKE ENERGY PROGRESS, LLC.
- **CENTRAL INDEX KEY:** 0000017797
- **STANDARD INDUSTRIAL CLASSIFICATION:** ELECTRIC & OTHER SERVICES COMBINED [4931]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 560165465
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-03382
- **FILM NUMBER:** 251431466

**BUSINESS ADDRESS:**
- **STREET 1:** 411 FAYETTEVILLE STREET
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27601
- **BUSINESS PHONE:** 800-488-3853

**MAIL ADDRESS:**
- **STREET 1:** 411 FAYETTEVILLE STREET
- **CITY:** RALEIGH
- **STATE:** NC
- **ZIP:** 27601

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** DUKE ENERGY PROGRESS, INC.
- **DATE OF NAME CHANGE:** 20130514

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CAROLINA POWER & LIGHT CO
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the**

**Securities Exchange Act of 1934**

**Date of Report: October 27, 2025**

**(Date of earliest event reported)**

---

| | | |
|:---|:---|:---|
| **Commission file <br> number** | **Registrant, State of Incorporation or Organization, <br> Address of Principal Executive Offices and Telephone Number** | **IRS Employer<br> Identification Number** |
| **1-32853** | <br> **DUKE ENERGY CORPORATION**<br> (a Delaware corporation)<br> 525 South Tryon Street<br> Charlotte, North Carolina 28202<br> 800-488-3853<br>| **20-2777218** |
| **1-3382** | **DUKE ENERGY PROGRESS, LLC**<br> (a North Carolina limited liability company)<br> 411 Fayetteville Street<br> Raleigh, North Carolina 27601<br> 800-488-3853<br>| **56-0165465** |

---

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

◻ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

◻ Soliciting Material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

◻ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

◻ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

---

| | | | |
|:---|:---|:---|:---|
| **<u>Registrant</u>** | **<u>Title of each class</u>** | **<u>Trading<br> Symbol(s)</u>** | **<u>Name of each <br> exchange on which<br> registered</u>** |
| Duke Energy | Common Stock, $0.001 par value | DUK | New York Stock Exchange LLC |
| Duke Energy | 5.625% Junior Subordinated Debentures due September 15, 2078 | DUKB | New York Stock Exchange LLC |
| Duke Energy | Depositary Shares each representing a 1/1,000<sup>th</sup> interest in a share of 5.75% Series A Cumulative Redeemable Perpetual Preferred Stock, par value $0.001 per share | DUK PR A | New York Stock Exchange LLC |
| Duke Energy | 3.10% Senior Notes due 2028 | DUK 28A | New York Stock Exchange LLC |
| Duke Energy | 3.85% Senior Notes due 2034 | DUK 34 | New York Stock Exchange LLC |
| Duke Energy | 3.75% Senior Notes due 2031 | DUK 31A | New York Stock Exchange LLC |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ◻

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ◻

---

| | |
|:---|:---|
| **Item 7.01.** | **Regulation FD** |

---

On October 27, 2025, Duke Energy Progress, LLC ("DEP") and the Office of Regulatory Staff ("ORS"), as well as other intervening parties, reached a partial settlement in connection with the base rate proceeding filed with the Public Service Commission of South Carolina ("PSCSC") on June 12, 2025. DEP and ORS filed with the PSCSC an Agreement and Stipulation of Partial Settlement Regarding Revenue Requirement and Related Issues (the "Stipulation"). Testimony consistent with the Stipulation was filed on October 27 and 28, 2025. The Stipulation includes, among other things, (i) a return on equity of 9.99% based on a capital structure of 53% equity and 47% debt and an overall rate of return of 7.2%, (ii) a South Carolina retail rate base of $2.2 billion, and (iii) agreement for nuclear and other production tax credit ("PTC") flow back to customers. Key provisions in the case also include (i) support for DEP's proposed annual reserve funding increase to $6 million, and (ii) support for DEP's proposed pension cost rider.

The Stipulation is subject to the review and approval of the PSCSC. An evidentiary hearing to review the Stipulation and remaining issues in the case commenced on October 29, 2025. An overview providing additional detail on the Stipulation is attached to this Form 8-K as Exhibit 99.1. The information in Exhibit 99.1 is being furnished pursuant to this Item 7.01 and shall not be deemed "filed" for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

---

| | |
|:---|:---|
| **Item 9.01.** | **Financial Statements and Exhibits** |

---

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit<br> No.** | **Description** |
| [99.1](tm2529676d1_ex99-1.htm) | [Duke Energy Progress, LLC Fact Sheet](tm2529676d1_ex99-1.htm) |
| 104 | Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrants have duly caused this report to be signed on their behalf by the undersigned thereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **DUKE ENERGY CORPORATION** | **DUKE ENERGY CORPORATION** |
|  | By: | /s/ DAVID S. MALTZ |
|  |  | David S. Maltz |
|  |  | Title: Vice President, Legal, Chief Governance Officer and Corporate Secretary |
| Dated: October 30, 2025 |  |  |
|  | **DUKE ENERGY PROGRESS, LLC** | **DUKE ENERGY PROGRESS, LLC** |
|  | By: | /s/ DAVID S. MALTZ |
|  |  | David S. Maltz |
| Dated: October 30, 2025 |  | Title: Vice President, Legal, Chief Governance Officer and Corporate Secretary |

---

## Exhibit 99.1

**Exhibit 99.1**

**Duke Energy Progress**

**Summary of 2025 South Carolina Proposed Rate Case Settlement**

**(Docket 2025-154-E)**

**Background:**

· On June 12, 2025, Duke Energy Progress (DEP) filed a rate case with the Public
Service Commission of South Carolina (PSCSC) to request an increase in retail revenues. This is the first base rate case filed by DEP
in South Carolina since 2022. The filing requests an overall increase in annual retail revenues of approximately $75 million (or 12.1%
average increase across all retail customers).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The rate case filing requests an overall rate of return of 7.65% based on approval of a 10.85% return on equity and a 53% equity component
of the capital structure.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;o The filing is based on a South Carolina retail rate base of $2.3 billion as of December 31, 2023, adjusted for known and measurable
changes through December 31, 2024.

· **On October 27, 2025, DEP and the Office of Regulatory Staff (ORS), as well as other consumer, environmental, and industrial intervening parties, filed an Agreement and Stipulation of Partial Settlement Regarding Revenue Requirement and Related Issues (Stipulation) resolving all revenue requirement issues in the base rate proceeding.** 

**Major components of the Proposed Stipulation:**

· Approximate $40 million annual customer rate increase (representing average
increase of 6.5% across all retail customers), net of $10 million in annual PTC flow-back.

· Return on equity of 9.99% based upon a capital structure of 53% equity and
47% debt and an overall rate of return of 7.2%.

· South Carolina retail rate base of $2.2 billion.

· Support for DEP's proposed annual storm reserve funding increase (from
$3 million to $6 million).

· Support for DEP's proposed pension cost rider, minimizing future volatility
due to changes in pension costs.

· Inflation Reduction Act (IRA) / Nuclear and Other Production Tax Credits
(PTCs): Agreement to flow back $10 million annually to South Carolina retail customers over a 24-month period. In 2028, the rider will
shift to a four-year amortization of PTCs actually earned and monetized, less costs to achieve and amounts already included in the rider.

October 29, 2025

**Additional Information:**

· The Stipulation is subject to the review and approval of the PSCSC. An evidentiary
hearing to review the Stipulation and other issues in the case commenced on October 29, 2025.

· DEP has requested new rates go into effect no later than February 1, 2026.

· The Stipulation does not result in any material immediate accounting impacts.

**Reconciliation of DEP's Original Request to Stipulation**

---

| | |
|:---|:---|
|  | **Cumulative Increase**<br> ($ in millions) |
| **Original filed base annual revenue increase** | $**75** |
| Reduced ROE (from 10.85% to 9.99%) | $(14) |
| Other revenue reductions | $(10) |
| **Base annual revenue increase per Stipulation** | $**51** |
| PTC rider | $(10) |
| **Net overall annual revenue increase per Stipulation** | $**40** |
| **Average % increase in annual retail revenues** | **6.5%** |

---

*Note: Totals may not add due to rounding.*

**Cautionary Statement Regarding Forward-Looking Statements**

This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2024, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

October 29, 2025