UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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Item 7.01. Regulation FD Disclosure.
Pursuant to the Order of the Securities and Exchange Commission dated March 25, 2020 (the “SEC Order”), granting exemptions from the reporting requirements under the Securities Exchange Act of 1934 for certain public companies as a result of the COVID-19 pandemic, Duke Energy Corporation (the “Corporation”) is filing this Form 8-K to announce its intention to file the Form 10-Q for the quarter ended March 31, 2020 (the “Form 10-Q”), on May 12, 2020, rather than May 11, 2020, the deadline for accelerated filers such as the Corporation. This delay is necessitated by the additional time required by our workforce, who are largely working remotely during the COVID-19 pandemic, to complete the processes necessary for our internal controls. Also, pursuant to the SEC Order requirement to include a risk factor regarding the material impacts of the COVID-19 pandemic in this Form 8-K, the Corporation sets forth the Risk Factor below which will be included in its Form 10-Q.
Item 8.01. Other Events.
The operations of the Corporation and its regulated subsidiaries (the “Duke Energy Registrants”) have been and may be affected by COVID-19 in ways listed below and in ways the Corporation cannot predict at this time.
The COVID-19 pandemic has begun to impact the Duke Energy Registrants' business strategy, results of operations, financial position and cash flows, albeit not materially as of this filing date, from specific activities listed below:
· | Decreased demand for electricity and natural gas; | |
· | Delays in rate cases and other legal proceedings; and | |
· | The health and availability of our critical personnel and their ability to perform business functions. |
Furthermore, due to the unpredictability of the COVID-19 pandemic’s ongoing impact on global health and economic stability as of this filing date, the Duke Energy Registrants expect that the activities listed below could negatively impact their business strategy, results of operations, financial position and cash flows:
· | An inability to procure satisfactory levels of fuels or other necessary equipment to continue production of electricity and delivery of natural gas; | |
· | An inability to obtain labor or equipment necessary for the construction of generation projects or pipeline expansion; | |
· | An inability to maintain information technology systems and protections from cyberattack; | |
· | An inability to obtain financing in volatile financial markets; | |
· | Additional federal regulation tied to stimulus and other aid packages; | |
· | Impairment charges to certain assets, including goodwill; and | |
· | Actions of state utility commissions or federal or state governments to allow customers to suspend or delay payment of bills related to the provision of electric or gas services. |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
DUKE ENERGY CORPORATION | ||
Date: May 8, 2020 | By: | /s/ David S. Maltz |
Name: | David S. Maltz | |
Title: |
Assistant Corporate Secretary |