Fourth Quarter 2023 Earnings Review and Business Update
Culture of continuous improvement delivers sustainable savings
SIGNIFICANT O&M SAVINGS
DESPITE RISING INFLATION
TOP-PERFORMER ACROSS MULTIPLE
O&M COST EFFICIENCY MEASURES(2)
ā Delivered on all 2023 cost initiatives
$4.8
O&M Cost Management
($ in billions)
$4.4
Declining O&M (-4%) CAGR
$4.4
2022
2023
2024E
Base O&M(1)
#2/19
ELECTRIC NON-GENERATION
O&M/CUSTOMER
#3/19
ELECTRIC NON-GENERATION
O&M / MWH
#2/11
NUCLEAR PRODUCTION EXPENSE /
NUCLEAR GENERATION MWH
(1) Base O&M is a non-GAAP financial measure, as it represents reported O&M expenses adjusted for special items and expenses recovered through riders and excludes O&M expenses for Duke Energy's non-regulated
electric products and services supporting regulated operations.
(2) Source: Company annual filings, 2022 FERC Form 1; Data as of YE 2022 unless otherwise noted; Reflects total electric O&M net of power production O&M; Figures reflect utility operations unless otherwise noted;
Electric customer counts sourced from 2022 company 10-K. UTY constituents included in comparison: AEE, AEP, AES (US), CNP, D, DTE, ED, EIX, ES, ETR, EXC, FE, NEE, PEG, PNW, SO, WEC, XEL
DUKE
ENERGY.
FOURTH QUARTER 2023 EARNINGS REVIEW AND BUSINESS UPDATE
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