Utilities Exploring Private Credit in a Potential First

Duke Energy Corp. trucks in Charlotte, North Carolina.

Photographer: Callaghan O'Hare/Bloomberg

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.