Core Insights - Duke Energy expresses gratitude to customers in Florida for reducing electricity usage during extreme cold, which helped alleviate strain on the electric grid [1][2] - The company is well-positioned to meet customer demand for the remainder of the week and is focused on diversifying its energy mix to support economic growth in Florida [2] Company Overview - Duke Energy Florida, a subsidiary of Duke Energy, has an energy capacity of 12,300 megawatts, serving 2 million customers across a 13,000-square-mile area in Florida [3] - Duke Energy, a Fortune 150 company, serves 8.6 million customers across multiple states and owns a total energy capacity of 55,100 megawatts [4] Energy Transition and Reliability - The company is undergoing a significant energy transition, prioritizing customer reliability while investing in electric grid upgrades and cleaner energy sources, including natural gas, nuclear, renewables, and energy storage [5] Customer Support and Energy Management - Duke Energy provides various tools and programs to assist customers in managing their energy bills, including flexible payment options and energy-saving tips [3][7]

Core Insights - Duke Energy expresses gratitude to customers for reducing electricity usage during extreme cold, which helped alleviate strain on the electric grid [1][2] - The company is well-positioned to meet customer demand for the remainder of the week and is focused on diversifying its energy mix to support economic growth in the Carolinas [2] Customer Engagement - Duke Energy encourages customers to maintain energy-saving habits and provides low- and no-cost tips for energy conservation [3] - The company offers various tools and programs to assist customers in managing their energy bills, including flexible payment options and additional assistance [3][6] Company Overview - Duke Energy is a major energy holding company serving approximately 8.6 million customers across multiple states, with a significant electric capacity of 55,100 megawatts [4] - The company is actively pursuing an energy transition, investing in electric grid upgrades and cleaner energy sources such as natural gas, nuclear, renewables, and energy storage [5]

Company Overview - Duke Energy is a Fortune 150 company headquartered in Charlotte, N.C., and is one of America's largest energy holding companies, serving 8.4 million customers across multiple states [3] - The company owns 54,800 megawatts of energy capacity and its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio, and Kentucky [3] Current Situation - Duke Energy is requesting customers to voluntarily reduce their energy use from 5 to 9 a.m. EST on February 2, 2026, due to extremely cold temperatures leading to high electricity demand [1] - The initiative aims to protect the grid and ensure electricity availability for as many customers as possible during this cold spell [1] Customer Engagement - The company acknowledges the challenge of reducing electricity usage and appreciates customer cooperation during this period [2] - Duke Energy Florida serves over 2 million customers across a 13,000-square-mile service area and owns 12,300 megawatts of energy capacity [2] Energy Transition Strategy - Duke Energy is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner generation methods, including natural gas, nuclear, renewables, and energy storage [4]

Core Insights - Extremely cold temperatures are causing high energy demand across the East Coast, prompting Duke Energy to request customers to voluntarily reduce energy use during peak hours [1] - Duke Energy is one of America's largest energy holding companies, serving 8.6 million electric customers and 1.7 million natural gas customers across multiple states [2] - The company is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner energy sources such as natural gas, nuclear, renewables, and energy storage [3] Company Overview - Duke Energy is headquartered in Charlotte, N.C., and is a Fortune 150 company [2] - The company collectively owns 55,100 megawatts of energy capacity [2] - Its electric utilities operate in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky [2] Energy Demand Management - Duke Energy is taking steps to manage energy demand, including maximizing generation and purchasing power [1] - The company is collaborating with large commercial and industrial customers through demand response programs [1] - Customers are encouraged to reduce energy use by adjusting thermostats, avoiding major appliances, and turning off unnecessary devices during peak hours [4]

Core Viewpoint - Spire is focusing on strategic growth through the acquisition of Duke Energy's Piedmont Natural Gas Tennessee business, which is expected to enhance its utility footprint and diversify its portfolio, with the transaction anticipated to close in early 2026 [1][7]. Financial Performance - For fiscal 2025, Spire reported adjusted earnings of $4.45 per share and approved a 5.1% increase in the annual dividend, raising it to $3.30 per share, marking the 23rd consecutive year of dividend hikes [4][6][14]. - The company invested $922 million in fiscal 2025, with nearly 90% allocated to utilities, and achieved a regulatory revenue increase of $210 million due to a rate case in Missouri [5][13]. Leadership Changes - Scott Doyle was appointed as president and CEO on April 24, 2025, and Steve Greenley joined as COO on October 13, 2025, indicating a significant leadership transition [3][4]. Regulatory Developments - The Missouri Legislature passed Senate Bill 4 in April 2025, modernizing regulatory rate-setting mechanisms, while the Missouri Public Service Commission approved a stipulation agreement resulting in a $210 million revenue increase [10][11]. - In Alabama, Spire concluded its annual budget process and worked with stakeholders through the Rate Stabilization and Equalization process, with new rates effective in early December [12]. Future Outlook - Management's priorities for fiscal 2026 include ensuring safe and reliable service, executing the capital plan efficiently, maintaining customer affordability, achieving constructive regulatory outcomes, and successfully integrating the Tennessee acquisition [15].

Core Viewpoint - Duke Energy is preparing for a winter storm that is expected to bring significant snowfall and strong winds to the Carolinas, urging customers to take safety precautions as conditions worsen [1][2]. Customer Safety Measures - Customers are advised to prepare an emergency kit, charge phones, gather flashlights and batteries, and review critical actions [6]. - The company encourages customers to download or update the Duke Energy app and confirm their account login information to receive outage alerts and updates [6]. - It is recommended that customers avoid driving until conditions improve and stay away from downed power lines and storm debris [6]. Storm Impact on Operations - High winds and heavy snowfall may create hazardous travel conditions, potentially delaying power restoration efforts as crews cannot perform elevated work in bucket trucks when winds exceed 30 mph [6]. - The storm poses a risk to the power grid, especially in areas where trees may have been weakened by a recent ice storm [2]. - Despite grid improvements, severe weather can still lead to extended outages, and restoration may take time due to blocked roads and hazardous conditions [6]. Company Overview - Duke Energy is one of America's largest energy holding companies, serving 8.6 million customers across several states and owning 55,100 megawatts of energy capacity [6][7]. - The company is actively investing in electric grid upgrades and cleaner energy generation, including natural gas, nuclear, renewables, and energy storage [8].

Core Insights - Duke Energy is preparing for an extreme cold weather event in Florida, with temperatures expected to be 20-25 degrees below average, marking the coldest air in nearly a decade [1][2] - The company emphasizes the importance of energy conservation during this period and encourages customers to utilize available resources to manage their energy usage and save on bills [2][8] Company Overview - Duke Energy Florida, a subsidiary of Duke Energy, has an energy capacity of 12,300 megawatts and serves 2 million customers across a 13,000-square-mile area in Florida [5] - Duke Energy, a Fortune 150 company, serves 8.4 million customers across multiple states and has a total energy capacity of 54,800 megawatts [6] Energy Management Programs - Duke Energy offers various programs to help customers save on their energy bills, including the EnergyWise® Home Program, which provides up to $141 in annual bill credits for enrolling qualified appliances [9] - The company also promotes the Time-of-use Rate Program, which encourages customers to shift energy use to off-peak hours [9] - Additional energy-saving tips include setting thermostats to lower settings, changing air filters regularly, sealing air leaks, and utilizing natural sunlight for heating [9] Infrastructure and Transition - Duke Energy is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner energy sources such as natural gas, nuclear, renewables, and energy storage [7]

Financial Data and Key Metrics Changes - The company achieved basic adjusted earnings of $4.45 per share for fiscal year 2025, marking a successful year for shareholder value [2] - The board approved a dividend increase of 5.1%, bringing the annualized rate to $3.30 per share, continuing a 23-year streak of annual dividend increases [17] Business Line Data and Key Metrics Changes - Fiscal year 2025 saw investments of $922 million, with nearly 90% allocated to utilities, enhancing system reliability and safety [16] - The company reported growth across all segments, driven by infrastructure investments [15] Market Data and Key Metrics Changes - The Missouri Public Service Commission approved a $210 million revenue increase following a positive conclusion to a rate case [4] - New legislation in Missouri established a future test year for rate-setting, allowing utilities to set rates based on projected costs [17] Company Strategy and Development Direction - The company is focused on operational excellence, regulatory engagement, financial discipline, and strategic growth, with a commitment to delivering reliable natural gas service [18] - The pending acquisition of Piedmont Natural Gas Tennessee business is expected to enhance Spire's scale and diversify its utility portfolio [3][15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the business and the ability to deliver strong operational and financial performance [18] - The company remains focused on maintaining customer affordability while executing its capital plan efficiently [21] Other Important Information - The company successfully concluded an annual budget process in Alabama, reinforcing its commitment to constructive regulatory outcomes [4] - The transition planning for the acquisition of Piedmont Natural Gas is well underway, with an 18-month transition service agreement in place [20] Q&A Session Summary Question: Current status of the acquisition of Piedmont Natural Gas Tennessee business - The acquisition is progressing well, with the Hart-Scott-Rodino review complete and awaiting approval from the Tennessee Public Utility Commission [20] Question: Company's business priorities for shareholders in fiscal year 2026 - The priorities include delivering safe and reliable natural gas service, executing the capital plan efficiently, maintaining customer affordability, achieving constructive regulatory outcomes, and successfully closing the Tennessee acquisition [21]

Financial Data and Key Metrics Changes - The company achieved basic adjusted earnings of $4.45 per share for fiscal year 2025, marking a successful year for shareholder value [2] - The board approved a dividend increase of 5.1%, bringing the annualized rate to $3.30 per share, which is the 23rd consecutive year of dividend increases [18] Business Line Data and Key Metrics Changes - Fiscal year 2025 saw the company invest $922 million, with nearly 90% allocated to utilities, enhancing system reliability and safety [17] - The company reported growth across all segments, driven by infrastructure investments [16] Market Data and Key Metrics Changes - Natural gas remains the most affordable energy source for heating, water heating, and cooking, with electricity being 2-3 times more expensive [18] - The regulatory environment improved with new legislation in Missouri establishing a future test year for rate-setting, allowing for better planning and investment [18] Company Strategy and Development Direction - The company is focused on operational excellence, regulatory engagement, financial discipline, and strategic growth, with a commitment to delivering safe and reliable natural gas service [19] - The pending acquisition of Piedmont Natural Gas Tennessee business is expected to enhance the company's scale and diversify its utility portfolio [3][16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the long-term fundamentals of the business and the ability to deliver strong operational and financial performance [19] - The company is committed to maintaining a strong balance sheet to support growth strategies and long-term shareholder value [19] Other Important Information - The Missouri Public Service Commission approved a $210 million revenue increase as a result of a rate case settlement [4] - The company successfully concluded an annual budget process in Alabama, reinforcing its regulatory engagement [4] Q&A Session All Questions and Answers Question: What is the current status of the acquisition of the Piedmont Natural Gas Tennessee business from Duke? - The acquisition is progressing well, with the Hart-Scott-Rodino review complete and awaiting approval from the Tennessee Public Utility Commission [21] Question: What are the company's business priorities for shareholders in fiscal year 2026? - The priorities include delivering safe and reliable natural gas service, executing the capital plan efficiently, maintaining customer affordability, achieving constructive regulatory outcomes, and successfully financing and closing the Tennessee acquisition [22]

Core Insights - Prolonged below-normal temperatures are leading to increased home energy use and higher bills in the Carolinas [1][6] - Duke Energy is providing practical steps and flexible options to help customers manage their energy costs during this cold weather [2][6] Weather Impact - The Carolinas are experiencing an unusually long cold stretch, with temperatures 10 to 20 degrees below normal for this time of year [1][7] - This cold weather is expected to be the longest since January 2018, with potential snow accumulation [7] Energy Use and Savings Tips - Heating systems are running longer due to low temperatures, which is the primary driver of increased energy use [2][6] - Duke Energy offers various energy-saving tips, such as setting thermostats to lower settings, sealing leaks, and utilizing natural sunlight for heating [8] - Customers can benefit from smart thermostat rewards and flexible billing options to manage their energy costs [8] Payment Options and Assistance - Duke Energy provides several payment options, including choosing due dates, requesting extensions, and installment plans for past-due balances [8] - The company also offers a Payment Assistance Finder to connect customers with local organizations that provide utility bill assistance [8] - The Share the Light Fund helps qualifying customers pay their energy bills through community and company contributions [8] Company Overview - Duke Energy is a Fortune 150 company serving 8.6 million customers across multiple states and has a total energy capacity of 55,100 megawatts [5] - The company is focused on an ambitious energy transition, investing in electric grid upgrades and cleaner energy sources, including natural gas, nuclear, renewables, and energy storage [9]