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The themes Duke Energy is part of, the highest-graded companies in its industry, and the companies in its sector whose grade rose recently.
The theme it is part of
Highest-graded in Utilities Regulated Electric
Graded A or B and worth $2B or more: A first, then the largest.
NEENextera Energy Inc.$179.3BA+
ELPCEnergy Co. Of Parana$8.2BA
KEPKorea Electric Power Corporation$7.3BA
NGGNational Grid plc$86.6BB+
EXCExelon Corporation$46.7BB
Grade rose recently in Utilities
Rose to A or B on a filing in the last 90 days, worth $2B or more: largest first.
CEGConstellation Energy CorporationNov 9, 2026BAGraded B, now A
VSTVistra Corp.Nov 9, 2026CBGraded C, now B
AESThe AES CorporationNov 3, 2026CBGraded C, now B- KEPKorea Electric Power CorporationSep 15, 2026CAGraded C, now A
How it makes money
- Retail electric service79%
- Retail natural-gas service9%
- Wholesale electricity8%
Shares of revenue are estimates for year ended December 31, 2025, high confidence, not figures from a filing.
Competes with
What it sells3
Retail electricity
Electricity generated or purchased by Duke Energy and delivered to homes, businesses and industrial customers.
Wholesale electricity
Electricity and power capacity sold to municipalities, cooperative utilities and other companies that serve customers.
Natural-gas delivery
Natural gas transported through local distribution pipes to homes, businesses, industrial customers and power plants.
Who buys it5
- Households that receive electricity or natural gas through a Duke Energy utility and pay utility bills.
- Commercial customers, including businesses and data centers, that buy electricity or natural gas for their facilities.
- Industrial customers, including manufacturers, that buy energy for their operations.
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- Municipalities, cooperative utilities and other companies that buy electricity wholesale to serve their own customers.
- Power plants that buy natural gas for electricity generation.
What it stands on, and what could break it
What the business leans on
- 1State utility commissions approve many retail rates and decide whether the company can recover costs through customer bills.
- 2Electric generation depends on supplies of natural gas, nuclear fuel and coal, as well as purchased electricity when company-owned plants are unavailable or demand is high.
- 3Natural-gas delivery depends on adequate supplies of gas and access to interstate pipelines and storage.
- 4The parent company depends on cash coming from its utility subsidiaries and on access to debt and equity markets to fund its financial needs.
What could go wrong
- 1State regulators may not approve rates that let Duke Energy recover the full cost of power plants, grid improvements, storm repairs or other utility expenses.
- 2Severe storms, hurricanes or operating accidents could damage power plants, electricity lines or gas systems and interrupt service.
- 3Coal-ash cleanup, nuclear plant decommissioning and spent-fuel storage can create substantial costs, and recovery of some costs from customers may be uncertain.
About Duke Energy CORP
Duke Energy owns power plants and the lines that carry electricity, and its utilities deliver power to customers in their service areas. It also distributes natural gas to homes, businesses and some power plants. State regulators approve many of the rates customers pay. At December 31, 2025, it served 8.7 million electric customers (high confidence) and 1.8 million natural-gas customers (high confidence); the gas-customer count includes Tennessee, whose business was sold in 2026.
- Head office
- Charlotte, North Carolina
- Founded
- 2005 (incorporated May 3, 2005; high confidence)
- Employees
- 26,441 (December 31, 2025, high confidence)
- Listed on
- NYSE
- Financial year ends
- December 31
Built from Duke Energy CORP’s own filings with the U.S. Securities and Exchange Commission (SEC). Figures are as reported, with per-share history restated onto today’s share basis. This describes a business — it is not investment advice and not a recommendation to buy or sell anything.