Realizing Merger Benefits For Customers And Investors

Our fuel and joint generation dispatch savings were important accomplishments for Duke Energy in 2013. Our joint dispatch agreement allows Duke Energy Carolinas and Duke Energy Progress to share power from plants across the Carolinas. This enables us to run the most efficient plants available from our combined generation fleet in order to meet the total demand on both systems at the least cost. Through December 31, 2013, we exceeded our original targets and have recorded about $190 million of cumulative fuel and joint dispatch savings for our Carolinas customers since the merger closed.

We have contractually locked-in or generated about 65 percent of the total guaranteed savings of $687 million over the first five years of the merger.

The efficiencies we gain from fuel and joint dispatch help us mitigate future rate increases as we reinvest in the business for the future to replace aging power plants, modernize our grid, and scale up renewable energy.