TEXT-EXTRACT 2 filename2.txt Mail Stop 3628 October 22, 2021 Lynn J. Good Chief Executive Officer Duke Energy Progress, LLC 410 South Wilmington Street Raleigh, North Carolina 27601-1748 Karl W. Newlin Manager, President, Treasurer and Chief Financial Officer Duke Energy Progress NC Storm Funding LLC 410 South Wilmington Street Raleigh, North Carolina 27601-1748 Re: Duke Energy Progress, LLC Duke Energy Progress NC Storm Funding LLC Registration Statement on Form SF-1 Filed September 3, 2021 File Nos. 333-259315 and 333-259315-01 Dear Ms. Good and Mr. Newlin: We have reviewed your registration statement and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe our comments apply to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to these comments, we may have additional comments. Registration Statement on Form SF-1 General 1. We note your disclosure on page 82 and elsewhere regarding the conditions of issuance of additional storm recovery bonds by the issuing entity. Please confirm that additional Lynn J. Good Duke Energy Progress, LLC Karl W. Newlin Duke Energy Progress NC Storm Funding LLC October 22, 2021 Page 2 issuances of securities issued by the issuing entity will be registered on separate registration statements. Security for the Storm Recovery Bonds Pledge of Collateral, page 82 2. We note that, in addition to the recovery property, property in the collection account and all of its subaccounts will also secure the bonds, including cash, instruments, investment property or other assets on deposit therein or credited thereto from time to time and all financial assets and securities entitlements carried therein or credited thereto. Please confirm whether any of the underlying collateral will consist of securities for purposes of Rule 190 under the Securities Act. Part II Information Not Required in Prospectus Item 14. Exhibits, page 2 3. Please file your remaining exhibits with your next amendment. Refer to Item 1100(f) of Regulation AB and Instruction 1 to Item 601 of Regulation S-K. Please contact Arthur Sandel at (202) 551-3262 with any other questions. Sincerely, /s/ Michelle Stasny Michelle Stasny Special Counsel Office of Structured Finance cc: Adam O Brian, Esq., Hunton Andrews Kurth LLP Michael Fitzpatrick, Esq., Hunton Andrews Kurth LLP