Business Transactions Duke Energy's Code of Business Ethics

Duke Energy's contractual agreements and business transaction processes govern our business relationships and ensure that Duke Energy's interests are protected.

The laws governing contracts and business transactions are numerous and complex. Therefore, Duke Energy has in place certain policies and procedures to ensure that any business transaction entered into on behalf of Duke Energy has received an appropriate level of review and approval.

In addition to contractual risks, participation in energy commodity markets exposes Duke Energy to credit and market risk. Therefore, Duke Energy has established risk management policies and procedures to guide its personnel in mitigating the potential negative financial impacts posed by these transactions and to build a portfolio of positions that collectively meet Duke Energy's desired risk reward profile.

Our Responsibilities

Duke Energy controls expenditures for goods and services through a purchasing process of requisitioning, procuring, administering contracts, receiving, approving invoices and disbursing funds. Duke Energy also controls its market and credit risk exposures through risk management policies and procedures.  

Duke Energy employees must:

  • Know what types of contracts we are authorized to execute on behalf of the company, if any.
  • If authorized to transact in the commodity market, only execute transactions in authorized commodities, using approved instruments, and following the applicable procedures for maintaining compliance with the specific risk limits and hedge guidelines. 
  • Secure written approval of contracts after any necessary advice, counsel and review is obtained and evidenced. 
  • Ensure the supplier is apprised of expectations regarding their obligation to conduct business in an ethical manner. 
  • Document the purchasing process to support that appropriate steps were taken and provide an audit trail.

Duke Energy employees must not:

  • Separate a single transaction into multiple transactions to circumvent an individual’s authorized approval limit. 
  • Divulge the quotation of one supplier to another supplier.