Hunton Andrews Kurth Advises Duke Energy Corporation on Establishment of At-the-Market Program (with a Forward Component) to Sell Up to $1.5 Billion of Common Stock

Hunton Andrews Kurth LLP advised Duke Energy Corporation (“Duke Energy” or the “Company”) in connection with the establishment of its at-the-market program to sell up to an aggregate sales price of $1.5 billion of shares of the Company’s common stock over a period of time and from time-to-time through either the sales agents or forward counterparties, who will, at the Company’s request, borrow from third parties.

Duke Energy, together with its subsidiaries, is a diversified energy company headquartered in Charlotte, North Carolina with both regulated and unregulated utility operations. It conducts its business through three operating business segments. Duke Energy’s electric utilities and infrastructure segment provides retail electric service through the generation, transmission, distribution and sale of electricity to approximately 8.2 million customers within the Southeast and Midwest regions of the United States. Its gas utilities and infrastructure segment serves over 1.6 million customers, including more than 1.1 million customers located in North Carolina, South Carolina and Tennessee and an additional 550,000 customers located within southwestern Ohio and northern Kentucky. Duke Energy’s commercial renewables segment primarily acquires, builds, develops and operates wind and solar renewable generation throughout the continental United States, with utility-scale wind and solar generation assets, distributed solar generation assets, distributed fuel cell assets and battery storage projects totaling 3,554 megawatts across 22 states from 23 wind facilities, 178 solar projects, 71 fuel cell locations and two battery storage facilities. On August 4, 2022 Duke Energy announced a strategic review of its commercial renewables segment.

The Hunton Andrews Kurth team included Peter K. O’Brien, Brendan P. Harney and Reuben H. Pearlman. Joseph B. Buonanno provided advice on the forward component.