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CLAIM #21819 · DUK (DUK) · 2023Q2 earnings call · Aug 8, 2023 · due Dec 31, 2024

These actions are credit positive, and we expect to see continued balance sheet improvement into 2024 as we recover the remaining deferred fuel costs and see the full year impact of both North Carolina rate cases.

Brian Savoy · CFO

PENDING
graded after results covering Dec 31, 2024 are reported

In context

Florida over 21 months with a debt return. We also read settlement with the public staff in our DEC North Carolina fuel proceeding and expect to receive an order in the coming weeks. Per the agreement, we would recover approximately 1 billion of deferred fuel by the end of 2024. Across our jurisdictions, we're on pace to recover 1.7 of deferred fuel costs in 2023. And expect our deferred fuel balance to be back in line with our historical average by the end of 2024. As Lynn mentioned, we expect to complete the sale of our commercial renewables business by the end of the year, and will use proceeds for debt avoidance at the holding company. In addition, about $1.5 billion of commercial renewables debt will come off the balance sheet when the transactions close further supporting metrics. These actions are credit positive, and we expect to see continued balance sheet improvement into 2024 as we recover the remaining deferred fuel costs and see the full year impact of both North Carolina rate cases. Moving to slide 11. This year marks the 97th consecutive year of paying a quarterly cash dividend and the 17th consecutive annual increase. Looking forward we're executing on our strategic priorities and are excited about the path ahead as a fully regulated company. We operate in constructive growing jurisdictions, which combined with our $65 billion five-year capital plan give us confidence in our 5% to 7% growth rate through 2027. Our attractive dividend yield coupled with long term earnings growth from investments and our regulated utilities, provide a compelling risk adjusted return for shareholders. With that, we'll open the line for your questions. Operator: [Operator Instructions] Our first question comes from Mrs. Shar Pourreza with Guggenheim Partners. The line is now open. Sh

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SEC filings for DUK · Claim quote is verbatim from the 2023Q2 earnings call.