S&P shifts Duke Energy view to negative

S&P said it changed the outlook for Duke Energy Corp. and all its rated subsidiaries to negative from stable.

The change in outlook follows the North Carolina State Supreme Court’s order on several matters related to Duke Energy Carolina LLC’s and Duke Energy Progress LLC’s previous rate cases. “The state supreme court affirmed parts of those rate case orders and remanded a part of them back to the North Carolina Utilities Commission (NCUC). Specifically, we think the potential of an equitable sharing proposal of Duke Energy’s coal ash costs raises regulatory risk for the company, since it suggests that the company may be asked to absorb more of the costs related to its coal ash spending,” S&P said in a press release.

The agency affirmed its ratings on Duke Energy and its subsidiaries, including the A- long-term issuer credit rating on Duke Energy.

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