Duke Energy Corporation is an energy company that operates primarily in the U.S. through its direct and indirect subsidiaries. The company's core business involves the generation, transmission, distribution, and sale of electricity to approximately 8.4 million customers in the Southeast and Midwest regions. Duke Energy also engages in natural gas operations, serving over 1.7 million customers in the Carolinas, Ohio, Kentucky, and Tennessee. The company's competitive advantages include its diversified generation portfolio, its regulated utility model, and its extensive geographic footprint. Duke Energy faces competition from other utilities, merchant generators, and alternative energy sources.

• Employees: 27,037 (as of December 31, 2023)
• Geographic Footprint: Six states in the Southeast and Midwest regions of the U.S.
• Headquarters: Charlotte, North Carolina
• Founded: May 3, 2005
• Number of locations/facilities: Six operating nuclear stations and numerous other generating, transmission and distribution facilities.
• Revenue: $29.1 billion (FY2023)
• Key Subsidiaries/Brands: Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont Natural Gas Company

• CEO: Lynn J. Good
• CFO: Brian D. Savoy
• Chief Legal Officer and Corporate Secretary: Kodwo Ghartey-Tagoe
• Chief Generation Officer and Enterprise Operational Excellence: T. Preston Gillespie
• Chief Executive Officer, Duke Energy Florida and Midwest: R. Alexander Glenn
• Chief Executive Officer, Duke Energy Carolinas: Julia S. Janson
• Chief Accounting Officer and Controller: Cynthia S. Lee
• Adviser to the Chair, President, and Chief Executive Officer: Ronald R. Reising
• Executive Vice President, External Affairs and Communications: Louis E. Renjel
• Executive Vice President, Customer Experience, Solutions and Services: Harry K. Sideris
• Executive Vice President and Chief Commercial Officer: Steven K. Young

Key executives have extensive experience in the energy sector and have held various leadership positions within Duke Energy and other related companies.

• Annual Revenue: $29.1 billion (FY2023)
• Net Income: $2.87 billion (FY2023)
• Total Assets: $176.9 billion (as of December 31, 2023)
• Number of Employees: 27,037 (as of December 31, 2023)
• Key Financial Highlights: The company's 2023 Net Income Available to Duke Energy Corporation was impacted by higher regulatory charges in the prior year. Additional drivers primarily include growth from riders and other retail margin, favorable rate case impacts, lower operations and maintenance expense and lower tax expense. These items were partially offset by higher interest and depreciation expense, unfavorable weather and lower volumes.

Duke Energy's main product categories and service lines include:

• Electricity Generation: The company generates electricity using a variety of sources, including nuclear, natural gas, coal, hydroelectric, and renewable energy.
• Electricity Transmission and Distribution: The company transmits and distributes electricity to its retail customers.
• Natural Gas Distribution: The company distributes natural gas to residential, commercial, and industrial customers.

Flagship offerings include regulated electricity and natural gas services across its service territories.

Duke Energy operates through two main business segments:

• Electric Utilities and Infrastructure (EU&I): This segment includes the regulated electric utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and Duke Energy Ohio. This segment provides retail electric service through the generation, transmission, distribution, and sale of electricity.
• Gas Utilities and Infrastructure (GU&I): This segment includes the regulated natural gas operations of Piedmont Natural Gas, Duke Energy Ohio, and Duke Energy Kentucky. This segment serves residential, commercial, industrial, and power generation natural gas customers.

The remainder of Duke Energy's operations is presented as Other. Commercial Renewables is no longer a reportable segment.

Duke Energy's current strategic priorities include:

• Implementing a clean energy transition, including achieving net-zero carbon emissions from electricity generation by 2050.
• Modernizing the regulatory construct to support the clean energy transition.
• Transforming the customer experience through digital technologies and data analytics.
• Investing in grid improvements and renewable energy projects.

The company is focused on driving efficiencies and productivity while navigating macroeconomic challenges. Duke Energy also aims to enhance its customer base and expand its service territories.

Duke Energy operates in the electric and natural gas utility industries. Key market trends affecting the business include:

• Increasing adoption of renewable energy sources.
• Growing emphasis on energy efficiency and distributed generation.
• Advancements in technology, including smart grid technologies.
• Changing regulatory and policy landscape.

Major competitors include other regulated utilities and merchant generators. Market share information is not explicitly stated in the 10-K filing.

• Business Strategy Risks: The ability to implement the company's business strategy, including carbon emission reduction goals, is subject to various uncertainties and contingencies.
• Regulatory, Legislative and Legal Risks: The company's regulated utility revenues are dependent on state legislation and regulation, which may limit its ability to recover costs and earn an appropriate return.
• Operational Risks: The company's results of operations may be negatively affected by overall market, economic and other conditions beyond its control, including natural disasters and operational accidents.
• Financial Risks: The company relies on access to short-term and long-term debt and equity markets to finance its capital requirements, which can be adversely affected by market conditions.
• Cybersecurity Risks: The company is exposed to the risk of cyberattacks and data security breaches, which could disrupt operations and result in financial losses.