Utilities Exploring Private Credit in a Potential First (1)

Two of the biggest power companies in the US have had talks with private credit lenders about raising money in what would be a first for utilities.

Duke Energy Corp. has spoken with private credit providers about financing pieces of its $87 billion capital plan and Xcel Energy Inc. has also had conversations with private credit firms about its $60 billion plan, executives said in interviews on Monday.

While traditional equity and debt financing work well for the majority of its spending plan, private credit has the potential to be “icing on the cake,” Duke Chief Financial Officer Brian ...