Political Expenditures Policy

Statement of Purpose and Philosophy

Duke Energy strongly believes in and supports the democratic political process and encourages its directors, employees and agents to take an active interest in fostering principles of good government in the countries, states and communities in which they live.

Duke Energy principles governing corporate political expenditures and Political Action Committee contributions:

1. Political expenditures shall reflect the company's interests and not those of its individual officers or directors.
2. No political expenditure shall be made in anticipation of, in recognition of, or in return for any official act.
3. Political expenditure decisions will be made based upon the following principles:
   
   a. promotion of sound and sustainable energy and environmental policies and legislation;
   b. efficient and effective regulatory systems, and;
   c. our commitment to providing all employees with a work environment guided by our company values of Safety, Integrity and Service.
4. On a semi-annual basis, beginning in 2016, all reported DUKEPAC contributions, corporate contributions and lobbying expenses will be disclosed in the aggregate by category and posted directly on this website. View the Current Report.
   
   April 2019 Update: Beginning with the report covering June through December 2018, the Duke Energy Corporate Political Expenditure Report will disclose, on a semi-annual basis:
   - 527 Contribution Recipients and amounts
   - Federal lobbying portion of trade association dues for dues in excess of $50,000 in the reporting period
   - Links to Federal Election Commission and Florida Department of State, Division of Elections, websites with navigation instructions to easily obtain DukePAC contribution information
5. On a semi-annual basis, the Vice President, Federal Government Affairs, shall report to the Corporate Governance Committee of the Duke Energy Corporation Board of Directors on the Political Expenditure Committee's (as defined below) annual strategy, and the company's political expenditures. This includes the company's payments to trade associations and other tax-exempt organizations that may be using the funds for lobbying and political activities.
6. Duke Energy encourages participation in DUKEPAC, but it will not pressure or coerce employees to make personal political contributions or contribute to DUKEPAC.
7. Employees will not be reimbursed either directly or indirectly for personal political contributions or expenses.

Guidelines and approval process for political expenditure requests:

DUKEPAC political contributions

DUKEPAC political contributions are governed by its articles of association and actions of the DUKEPAC Trustees.

Corporate political expenditure guidelines

1. Current federal law bars corporate contributions to candidates in federal elections, and the laws of North Carolina, Ohio, and Kentucky prohibit corporate contributions to candidates in those states. Duke Energy administers our political contributions consistent with federal and state laws.
2. The company shall establish and maintain a Political Expenditures Committee (PEC), whose purpose shall be to annually develop a company political expenditure strategy and recommend DukePAC allocations among federal and state jurisdictions. This committee will approve, monitor and track corporate political expenditures and provide recommendations and updates to company senior management. The PEC shall comprise senior officers from a cross-section of disciplines in the company.
3. The company maintains a tiered approval process that will govern all political expenditures to ensure such expenditures have the appropriate level of management and Corporate Governance Committee review.

Trade associations and chambers of commerce:

1. Duke Energy belongs to a number of trade associations that participate in the political process. These associations represent a broad array of professional and industry interests.
2. Duke Energy is active in various chambers of commerce as a means to promote economic development and vitality in the jurisdictions in which we do business.
3. Duke Energy may not always agree with political positions taken by trade associations and chambers of commerce of which it is a member. However, we believe our participation in these organizations provides an overall benefit to the company.