“Storm cost securitization, which is expected to save customers in the Carolinas up to 18% on their bills compared to traditional recovery mechanisms.”

In context

“ur fourth quarter call in February. As the investment needs of our utilities accelerate, I want to underscore that customer value and affordability remain front and center. Our job is to address the needs of all customers from large industrial customers that are competing against the global market to residential customers that are managing their household budgets. This focus starts with cost management, which is a core competency for Duke Energy. We continue to leverage AI and pursue a technology-enabled industry-leading cost structure as we invest in our system. Other tools we are utilizing to keep rates as low as possible include the combination of Duke Energy Carolinas and Duke Energy Progress utilities, which, if approved, would save retail customers more than $1 billion through 2038. Storm cost securitization, which is expected to save customers in the Carolinas up to 18% on their bills compared to traditional recovery mechanisms. Energy tax credits, which collectively result in hundreds of millions of dollars in annual savings. And we're protecting existing customers through tariff structures and contract provisions for new large-load projects. These are just a few of the many solutions we employ to ensure our 10 million customers receive the service they count on at a fair price. We recognize that our work to provide affordable energy for customers is never done, but we are proud that average rate changes have paced below the rate of inflation over the last decade and that our rates are well below the national average. Turning to Slide 6. The majority of our capital plan increase relates to our record generation build, which is hitting a new gear. Last month, we filed our updated Carolinas resource plan in North”