Duke draws $1 billion under its Master Credit Agreement
CHARLOTTE, NORTH CAROLINA - Duke Energy Corporation announced it is drawing approximately $1 billion under its $3.2 billion Master Credit Agreement, which expires in June 2012.
"In light of the uncertain market environment, we made this proactive financial decision to increase our liquidity and cash position and to bridge our access to the debt capital markets," said David Hauser, group executive and chief financial officer. "This improves our flexibility as we continue to execute our business plans."
With this draw, the company expects to have approximately $2 billion of cash and cash equivalents.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers electricity to approximately 4 million U.S. customers in its regulated jurisdictions. The company has approximately 35,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky.
In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
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Duke Energy Florida to build its largest battery storage projects yet
ST. PETERSBURG - Duke Energy Florida (DEF) has announced three battery storage projects, totaling 22 megawatts, that will improve overall reliability and support critical services during power outages.
Duke Energy, the nation's largest electric utility, unveils its new logo. (PRNewsFoto/Duke Energy) (PRNewsfoto/Duke Energy)
Collectively, the storage facilities will enhance grid operations, increase efficiencies and improve overall reliability for surrounding communities.
They will also provide important backup generation during power outages, a service that is becoming increasingly important with the number and intensity of storms that have recently impacted the state.
As the grid manager and operator, DEF can maximize the versatility of battery technology…
