Kentucky Public Service Commission

Final Order Entered: 1. Duke Kentucky is authorized to obtain long-term debt in an aggregate amount not to exceed $275 million as set forth in its application for the period ending December 31, 2024. 2. Duke Kentucky is authorized to borrow from Boone County, Kentucky, or another authorized issuer of tax-exempt bonds in the Commonwealth of Kentucky, for a term not to exceed 30 years, the proceeds of up to a maximum of $76.72 million aggregate principal amount of Authority Bonds that may be issued in one or more series, for the period ending December 31, 2024. 3. Duke Kentucky is authorized to continue to classify $25 million of Utility Money Pool Agreement borrowings as long-term debt if it deems it prudent to do so. 4. Duke Kentucky is authorized to use interest rate management techniques and to enter into interest rate management agreements that will reduce its overall interest costs. Further, in the event Duke Kentucky enters into an interest rate management agreement, a copy of the agreement shall be provided to the Commission within 30 days of its execution. 5. The proceeds from the transactions authorized herein shall be used only for the lawful purposes set out in the application. 6. Duke Kentucky shall agree to only such terms and prices as are consistent with this Order.

20221027_PSC No Deficiency Letter.pdf

Duke Energy Kentucky, Inc.s Application for Financing Authority

Minna Sunderman Rocco DAscenzo

20221003_PSC Acknowledgment Letter.pdf

Duke Energy Kentucky, Inc. Notice of Intent to File an Application for an Order Authorizing the Issuance of Unsecured Debt and Long-term Notes, Execution and Delivery of Long-term Loan Agreements, and Use of Interest Rate Management Instruments Using Elect