Conflicts of Interest Duke Energy's Code of Business Ethics

Duke Energy depends on the good judgment and integrity of its employees to act in Duke Energy's best interests. Sometimes, however, there are situations where an employee might be tempted to act otherwise or find oneself in a situation where a conflict of interest may arise.

A conflict of interest exists any time an employee faces a choice between what is in his or her personal interest (financial or otherwise) and the interests of Duke Energy. When a conflict of interest arises, others may question our integrity. Therefore, employees are accountable for acting in Duke Energy's best interests and carefully avoiding even the appearance of impropriety. If an employee is in a position where their objectivity may be questioned because of individual interests or family or personal relationships, notify supervision immediately.

Conflicts of interest may arise when:

  • An employee or someone with a close relationship to the employee has an interest in an entity with which Duke Energy does business. 
  • An employee or someone with a close relationship to an employee receives improper personal benefits as a result of their position at Duke Energy.
  • Other employment (including self-employment) or serving as an officer, director, partner or consultant of another organization interferes with an employee’s  ability to act in the best interests of Duke Energy, requires the employee to use or disclose sensitive information about Duke Energy, is conducted during or conflicts with an employee's normal work times, or creates the appearance of impropriety. 
  • An employee or someone with a close relationship to an employee receives a loan or other extension of credit or credit support (such as a guaranty) from Duke Energy. Duke Energy is prohibited by law from extending or arranging for the extension of personal loans to executive officers.

Our Responsibilities

Duke Energy employees owe a duty of loyalty to the company and are expected to act in Duke Energy's best interests and avoid conflicts of interest and/or the appearance of a conflict of interest.

Duke Energy employees must:

  • Be able to identify potential conflicts of interest when they arise.
  • Make certain that any second jobs, financial interests or management interests in another entity do not cause a conflict of interest or have a negative impact on the confidence the public has in Duke Energy.
  • Get approval from a group executive when an entity in which an employee or someone with a close relationship to the employee owns or acquires an interest that is greater than 5 percent seeks to do business with Duke Energy, and:

    • The entity makes sales of goods or services to Duke Energy exceeding $1,000 annually, or
    • The employee helps make Duke Energy purchasing decisions for those goods or services, or
    • The employee has a role in making sure the entity is paid for the goods and services it provides.
  • Get approval from a group executive to:
    • Perform work or services which are similar to current job responsibilities for any person or organization that competes with or seeks to do business with Duke Energy.
    • Take a position on the board of directors of a for-profit entity that has regular business dealings with Duke Energy other than routine sales of gas and electric services. Prior to taking any such board position, employees are required to consult with their supervisor before seeking approval from a group executive who shall notify the Chief Legal Officer.
  • Always keep Duke Energy's interests uppermost even if the above criteria do not apply to a situation.

    • Duke Energy employees must not:

    • Take for personal gain an opportunity available to Duke Energy that is discovered using company assets, information or position. 
    • Personally benefit from business decisions, selections or authorizations the employee makes in the performance of their job. 
    • Cause Duke Energy (or its affiliates) to enter into, or direct others to cause Duke Energy (or its affiliates) to enter into, energy commodity contracts that benefit an employee, an employee’s family members, friends, or someone with a close relationship to an employee with whom there is a personal business interest. 
    • Participate in the selection process or oversee the work of a company in which an employee or someone with a close relationship to the employee has an interest.  
    • Interface with Duke Energy's contractors, vendors, suppliers, customers or others in a manner which creates even the appearance of a conflict of interest.

    Q & A

    Q: I've been asked to sit on the board of directors of a nonprofit organization. Do I need my supervisor's approval to do this?

    A: No, but you should still make your supervisor aware of the situation. Also, you should excuse yourself from any discussions or votes on any matter involving Duke Energy, to avoid the appearance of improper behavior or a conflict of interest.

    Q: I am considering a temporary second job for extra money during the holiday season. Is this okay?

    A: Yes, but remember your first responsibility is to our company. You must be able to fulfill all your responsibilities including overtime if that is a requirement. The job must not be with a competitor or vendor/supplier.

    Q: An employee's spouse owns a company which would like to bid on a contract exceeding $1,000 annually. The employee discloses the ownership to their supervisor. Is this a conflict of interest?

    A: No. The employee was honest about their relationship and removed themselves from the purchasing process. If the company owned by the employee's spouse is chosen as a vendor, the employee cannot be involved in supervising the work or processing payments for the work.