the reliable and safe operation of our power plants , electric distribution system and natural gas infrastructure in our communities is foundational to our customers , our financial results and our credibility with stakeholders . our regulated generation fleet performance was strong throughout the year . all of our nuclear sites have achieved the industry 's highest distinction rating . our electric distribution system performed well throughout the year , with outage durations down when adjusted for storms . the safety of our workforce is a core value . our employees delivered strong safety results in 2019 , and we are at or near the top of our industry . storm response and system restoration . the 2019 atlantic hurricane season was the fourth consecutive year of above-average damaging storms . our ability to effectively handle all facets of the 2019 storm response efforts is a testament to our team 's extensive preparation and coordination , applying lessons learned from previous storms , and to on-the-ground management throughout the restoration efforts . notably in 2019 duke energy earned eei 's emergency recovery award , our 22nd eei award since 1998 and a strong affirmation of the work of our employees to support customers when they need us most . customer satisfaction . duke energy continues to transform the customer experience through our use of customer data to better inform operational priorities and performance levels . this data-driven approach allows us to identify the investments that are the most important to the customer experience . in 2019 , we instituted billing and payment-related communications and options , and we continue to enhance outage-related communications to customers . constructive regulatory and legislative outcomes . one of our long-term strategic goals is to achieve modernized regulatory constructs in our jurisdictions . modernized constructs provide benefits , which include improved earnings and cash flows through more timely recovery of investments , as well as stable pricing for customers . in 2019 , duke energy , north carolina regulators and environmentalists reached an agreement to permanently close all remaining coal ash basins in north carolina . this agreement reduces the cost to close our coal ash basins for our carolinas customers in comparison to the initial ncdeq closure order . in 2019 we achieved constructive rate case outcomes driving earnings growth through rate base increases in south carolina ( electric ) , north carolina ( natural gas ) , ohio ( electric distribution ) and kentucky ( natural gas ) . in addition , we have a multiyear rate plan in florida and grid investment riders in the midwest which enable more timely cost recovery and earnings growth . digital transformation . duke energy has a demonstrated track record of driving efficiencies and productivity into the business . we continue to leverage new technology , digital tools and data analytics across the business in response to a transforming landscape . in 2019 , we created a team dedicated to developing applications and other solutions to deliver productivity gains and improvements to the customer experience . modernizing the power grid . our grid improvement programs continue to be a key component of our growth strategy . modernization of the electric grid , including smart meters , storm hardening , self-healing and targeted undergrounding helps to ensure the system is better prepared for severe weather , improves the system 's reliability and flexibility , and provides better information and services for customers . in 2019 , 79 % of our jurisdictions were equipped with smart meters and we remain on track to be fully deployed across all regions by 2021. we continue to expand our self-optimizing grid capabilities , and in 2019 that saved over a half million customer interruptions . generating cleaner energy . overall , we have lowered our carbon emissions by 39 % since 2005 , consistent with our new goal to reduce carbon emissions by at least 50 % by 2030 and to achieve net-zero carbon emissions by 2050. our commitment for 2030 includes retiring plants , operating our existing carbon-free resources and investing in natural gas infrastructure , renewables and our energy delivery system . as we look beyond 2030 , we will need additional tools to continue our progress . we will work actively to advocate for research and development of carbon-free , dispatchable resources . that includes longer-term energy storage , advanced nuclear technologies , carbon capture and zero-carbon fuels . expanding the natural gas platform . we continue to pursue natural gas infrastructure investments . while the judicial and administrative challenges to date have been substantial , we are committed to the construction of the acp pipeline to bring low-cost gas supply and economic development opportunities to the southeast u.s. construction is underway on a liquefied natural gas facility in robeson county , north carolina , on property piedmont owns . this investment will help piedmont provide a reliable gas supply to customers during peak usage periods and protect customers from price volatility when there is a higher-than-normal demand for natural gas . dividend growth . in 2019 , duke energy continued to grow the dividend payment to shareholders . 2019 represented the 93rd consecutive year duke energy paid a cash dividend on its common stock . 41 md & a duke energy duke energy objectives – 2020 and beyond duke energy will continue to deliver exceptional value to customers , be an integral part of the communities in which we do business and provide attractive returns to investors . we have an achievable , long-term strategy in place , and it is producing tangible results , yet the industry in which we operate is becoming more and more dynamic . we are adjusting , where necessary , and accelerating our focus in key areas to ensure the company is well positioned to be successful for many decades into the future . story_separator_special_tag given legal challenges and ongoing discussions with customers , acp expects mechanical completion of the full project in late 2021 with in-service likely in the first half of 2022. the delays resulting from legal challenges have also impacted the cost for the project . project cost is approximately $ 8 billion , excluding financing costs . this estimate is based on the current facts available around construction costs and timelines , and is subject to future changes as those facts develop . abnormal weather , work delays ( including delays due to judicial or regulatory action ) and other conditions may result in cost or schedule modifications , a suspension of afudc for acp and or impairment charges potentially material to duke energy 's cash flows , financial position and results of operations . acp and duke energy will continue to consider their options with respect to the foregoing given their existing contractual and legal obligations . see notes 4 and 18 to the consolidated financial statements , `` regulatory matters `` and `` variable interest entities , `` respectively , for additional information . on november 13 , 2013 , the puco issued an order authorizing recovery of mgp costs at certain sites in ohio with a deadline to complete the mgp environmental investigation and remediation work prior to december 31 , 2016. this deadline was subsequently extended to december 31 , 2019. duke energy ohio has filed a request for extension of the deadline . a hearing on that request has not been scheduled . disallowance of costs incurred , failure to complete the work by the deadline or failure to obtain an extension from the puco could result in an adverse impact on gas utilities and infrastructure 's results of operations , financial position and cash flows . see note 4 to the consolidated financial statements , “ regulatory matters , ” for additional information . within this item 7 , see liquidity and capital resources for discussion of risks associated with the tax act . commercial renewables replace_table_token_21_th ( a ) certain projects are included in tax-equity structures where investors have differing interests in the project 's economic attributes . in the table above , 100 % of the tax-equity project 's capacity is included . year ended december 31 , 2019 , as compared to 2018 commercial renewables ' results were favorable primarily due to new tax equity solar projects in the current year and a prior year goodwill impairment charge . the following is a detailed discussion of the variance drivers by line item . operating revenues . the increase was primarily due to new solar projects placed in service and higher irradiance . operating expenses . the decrease was primarily due to a goodwill impairment charge in the prior year , partially offset by increased depreciation due to new solar projects placed in service . other income and expenses , net . the decrease was primarily due to income from the fes settlement agreement in the prior year . income tax benefit . the decrease in the tax benefit was primarily driven by taxes associated with duke energy 's interest in tax equity solar projects recorded during 2019 and a reduction in ptcs generated . 47 md & a segment results - commercial renewables loss attributable to noncontrolling interests . the variance was primarily due to an increase in solar projects with tax equity investors . hlbv accounting was utilized , resulting in allocation of losses to the noncontrolling interest partners . see note 1 to the consolidated financial statements , `` summary of significant accounting policies `` for more information . matters impacting future commercial renewables results commercial renewables continues to experience growth with tax equity projects ; however , the future expiration of federal tax incentives could result in adverse impacts to future results of operations , financial position and cash flows . during 2019 , duke energy evaluated recoverability of its renewable merchant plants principally in the electric reliability council of texas west market , due to declining market pricing and declining long-term forecasted energy prices , primarily driven by lower forecasted natural gas prices . these assets were not impaired ; however , a continued decline in energy market pricing would likely result in a future impairment . impairment of these assets could result in adverse impacts to the future results of operations , financial position and cash flows of commercial renewables . see note 11 to the consolidated financial statements , `` property , plant and equipment , `` for additional information . within this item 7 , see liquidity and capital resources for discussion of risks associated with the tax act . other replace_table_token_22_th year ended december 31 , 2019 , as compared to 2018 the variance was driven by the prior year severance charges related to a corporate initiative , prior year loss on sale of the retired beckjord station , and the absence in the current year of costs related to the piedmont acquisition , offset by obligations to the duke energy foundation in 2019. the following is a detailed discussion of the variance drivers by line item . operating expenses . the variance was primarily due to prior year severance charges related to a corporate initiative as well as costs associated with the piedmont acquisition , partially offset by obligations to the duke energy foundation in 2019. losses on sales of other assets and other , net . the variance was driven by the prior year loss on sale of the retired beckjord station , including the transfer of coal ash basins and other real property and indemnification from all potential future claims related to the property , whether arising under environmental laws or otherwise . other income and expenses , net . the variance was primarily due to higher returns on investments that fund certain employee benefit obligations and bison investment income . interest expense . the variance was primarily due to higher

senior unsecured debt a2 a- duke energy kentucky stable stable senior unsecured debt baa1 a- piedmont natural gas stable stable senior unsecured a3 a- credit ratings are intended to provide credit lenders a framework for comparing the credit quality of securities and are not a recommendation to buy , sell or hold . the duke energy registrants ' credit ratings are dependent on the rating agencies ' assessments of their ability to meet their debt principal and interest obligations when they come due . if , as a result of market conditions or other factors , the duke energy registrants are unable to maintain current balance sheet strength , or if earnings and cash flow outlook materially deteriorates , credit ratings could be negatively impacted . cash flow information the following table summarizes duke energy 's cash flows for the two most recently completed fiscal years . replace_table_token_39_th 66 md & a liquidity and capital resources operating cash flows the following table summarizes key components of duke energy 's operating cash flows for the two most recently completed fiscal years . replace_table_token_40_th the variance was driven primarily by : a $ 241 million increase in net income after adjustment for non-cash items primarily due to increases in revenues as a result of rate increases in the current year , partially offset by decreases in current year non-cash adjustments ; a $ 573 million refund of amt credit carryforwards ; a $ 253 million decrease in cash outflows from working capital primarily due to fluctuations in accounts receivable balances , including a prior year increase for amt refunds , and prior year increases in regulatory assets related to fuel costs , partially offset by fluctuations in inventory levels and current year decreases in property tax and severance accruals ; and a $ 105 million payment in the prior year for disposal of beckjord . partially offset by : a $ 213 million increase in payments for aros . investing cash flows the following table summarizes key components of duke energy 's investing cash flows for the two most recently completed fiscal years .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```senior unsecured debt a2 a- duke energy kentucky stable stable senior unsecured debt baa1 a- piedmont natural gas stable stable senior unsecured a3 a- credit ratings are intended to provide credit lenders a framework for comparing the credit quality of securities and are not a recommendation to buy , sell or hold . the duke energy registrants ' credit ratings are dependent on the rating agencies ' assessments of their ability to meet their debt principal and interest obligations when they come due . if , as a result of market conditions or other factors , the duke energy registrants are unable to maintain current balance sheet strength , or if earnings and cash flow outlook materially deteriorates , credit ratings could be negatively impacted . cash flow information the following table summarizes duke energy 's cash flows for the two most recently completed fiscal years . replace_table_token_39_th 66 md & a liquidity and capital resources operating cash flows the following table summarizes key components of duke energy 's operating cash flows for the two most recently completed fiscal years . replace_table_token_40_th the variance was driven primarily by : a $ 241 million increase in net income after adjustment for non-cash items primarily due to increases in revenues as a result of rate increases in the current year , partially offset by decreases in current year non-cash adjustments ; a $ 573 million refund of amt credit carryforwards ; a $ 253 million decrease in cash outflows from working capital primarily due to fluctuations in accounts receivable balances , including a prior year increase for amt refunds , and prior year increases in regulatory assets related to fuel costs , partially offset by fluctuations in inventory levels and current year decreases in property tax and severance accruals ; and a $ 105 million payment in the prior year for disposal of beckjord . partially offset by : a $ 213 million increase in payments for aros . investing cash flows the following table summarizes key components of duke energy 's investing cash flows for the two most recently completed fiscal years .
```    
 Suspicious Activity Report : the reliable and safe operation of our power plants , electric distribution system and natural gas infrastructure in our communities is foundational to our customers , our financial results and our credibility with stakeholders . our regulated generation fleet performance was strong throughout the year . all of our nuclear sites have achieved the industry 's highest distinction rating . our electric distribution system performed well throughout the year , with outage durations down when adjusted for storms . the safety of our workforce is a core value . our employees delivered strong safety results in 2019 , and we are at or near the top of our industry . storm response and system restoration . the 2019 atlantic hurricane season was the fourth consecutive year of above-average damaging storms . our ability to effectively handle all facets of the 2019 storm response efforts is a testament to our team 's extensive preparation and coordination , applying lessons learned from previous storms , and to on-the-ground management throughout the restoration efforts . notably in 2019 duke energy earned eei 's emergency recovery award , our 22nd eei award since 1998 and a strong affirmation of the work of our employees to support customers when they need us most . customer satisfaction . duke energy continues to transform the customer experience through our use of customer data to better inform operational priorities and performance levels . this data-driven approach allows us to identify the investments that are the most important to the customer experience . in 2019 , we instituted billing and payment-related communications and options , and we continue to enhance outage-related communications to customers . constructive regulatory and legislative outcomes . one of our long-term strategic goals is to achieve modernized regulatory constructs in our jurisdictions . modernized constructs provide benefits , which include improved earnings and cash flows through more timely recovery of investments , as well as stable pricing for customers . in 2019 , duke energy , north carolina regulators and environmentalists reached an agreement to permanently close all remaining coal ash basins in north carolina . this agreement reduces the cost to close our coal ash basins for our carolinas customers in comparison to the initial ncdeq closure order . in 2019 we achieved constructive rate case outcomes driving earnings growth through rate base increases in south carolina ( electric ) , north carolina ( natural gas ) , ohio ( electric distribution ) and kentucky ( natural gas ) . in addition , we have a multiyear rate plan in florida and grid investment riders in the midwest which enable more timely cost recovery and earnings growth . digital transformation . duke energy has a demonstrated track record of driving efficiencies and productivity into the business . we continue to leverage new technology , digital tools and data analytics across the business in response to a transforming landscape . in 2019 , we created a team dedicated to developing applications and other solutions to deliver productivity gains and improvements to the customer experience . modernizing the power grid . our grid improvement programs continue to be a key component of our growth strategy . modernization of the electric grid , including smart meters , storm hardening , self-healing and targeted undergrounding helps to ensure the system is better prepared for severe weather , improves the system 's reliability and flexibility , and provides better information and services for customers . in 2019 , 79 % of our jurisdictions were equipped with smart meters and we remain on track to be fully deployed across all regions by 2021. we continue to expand our self-optimizing grid capabilities , and in 2019 that saved over a half million customer interruptions . generating cleaner energy . overall , we have lowered our carbon emissions by 39 % since 2005 , consistent with our new goal to reduce carbon emissions by at least 50 % by 2030 and to achieve net-zero carbon emissions by 2050. our commitment for 2030 includes retiring plants , operating our existing carbon-free resources and investing in natural gas infrastructure , renewables and our energy delivery system . as we look beyond 2030 , we will need additional tools to continue our progress . we will work actively to advocate for research and development of carbon-free , dispatchable resources . that includes longer-term energy storage , advanced nuclear technologies , carbon capture and zero-carbon fuels . expanding the natural gas platform . we continue to pursue natural gas infrastructure investments . while the judicial and administrative challenges to date have been substantial , we are committed to the construction of the acp pipeline to bring low-cost gas supply and economic development opportunities to the southeast u.s. construction is underway on a liquefied natural gas facility in robeson county , north carolina , on property piedmont owns . this investment will help piedmont provide a reliable gas supply to customers during peak usage periods and protect customers from price volatility when there is a higher-than-normal demand for natural gas . dividend growth . in 2019 , duke energy continued to grow the dividend payment to shareholders . 2019 represented the 93rd consecutive year duke energy paid a cash dividend on its common stock . 41 md & a duke energy duke energy objectives – 2020 and beyond duke energy will continue to deliver exceptional value to customers , be an integral part of the communities in which we do business and provide attractive returns to investors . we have an achievable , long-term strategy in place , and it is producing tangible results , yet the industry in which we operate is becoming more and more dynamic . we are adjusting , where necessary , and accelerating our focus in key areas to ensure the company is well positioned to be successful for many decades into the future . story_separator_special_tag given legal challenges and ongoing discussions with customers , acp expects mechanical completion of the full project in late 2021 with in-service likely in the first half of 2022. the delays resulting from legal challenges have also impacted the cost for the project . project cost is approximately $ 8 billion , excluding financing costs . this estimate is based on the current facts available around construction costs and timelines , and is subject to future changes as those facts develop . abnormal weather , work delays ( including delays due to judicial or regulatory action ) and other conditions may result in cost or schedule modifications , a suspension of afudc for acp and or impairment charges potentially material to duke energy 's cash flows , financial position and results of operations . acp and duke energy will continue to consider their options with respect to the foregoing given their existing contractual and legal obligations . see notes 4 and 18 to the consolidated financial statements , `` regulatory matters `` and `` variable interest entities , `` respectively , for additional information . on november 13 , 2013 , the puco issued an order authorizing recovery of mgp costs at certain sites in ohio with a deadline to complete the mgp environmental investigation and remediation work prior to december 31 , 2016. this deadline was subsequently extended to december 31 , 2019. duke energy ohio has filed a request for extension of the deadline . a hearing on that request has not been scheduled . disallowance of costs incurred , failure to complete the work by the deadline or failure to obtain an extension from the puco could result in an adverse impact on gas utilities and infrastructure 's results of operations , financial position and cash flows . see note 4 to the consolidated financial statements , “ regulatory matters , ” for additional information . within this item 7 , see liquidity and capital resources for discussion of risks associated with the tax act . commercial renewables replace_table_token_21_th ( a ) certain projects are included in tax-equity structures where investors have differing interests in the project 's economic attributes . in the table above , 100 % of the tax-equity project 's capacity is included . year ended december 31 , 2019 , as compared to 2018 commercial renewables ' results were favorable primarily due to new tax equity solar projects in the current year and a prior year goodwill impairment charge . the following is a detailed discussion of the variance drivers by line item . operating revenues . the increase was primarily due to new solar projects placed in service and higher irradiance . operating expenses . the decrease was primarily due to a goodwill impairment charge in the prior year , partially offset by increased depreciation due to new solar projects placed in service . other income and expenses , net . the decrease was primarily due to income from the fes settlement agreement in the prior year . income tax benefit . the decrease in the tax benefit was primarily driven by taxes associated with duke energy 's interest in tax equity solar projects recorded during 2019 and a reduction in ptcs generated . 47 md & a segment results - commercial renewables loss attributable to noncontrolling interests . the variance was primarily due to an increase in solar projects with tax equity investors . hlbv accounting was utilized , resulting in allocation of losses to the noncontrolling interest partners . see note 1 to the consolidated financial statements , `` summary of significant accounting policies `` for more information . matters impacting future commercial renewables results commercial renewables continues to experience growth with tax equity projects ; however , the future expiration of federal tax incentives could result in adverse impacts to future results of operations , financial position and cash flows . during 2019 , duke energy evaluated recoverability of its renewable merchant plants principally in the electric reliability council of texas west market , due to declining market pricing and declining long-term forecasted energy prices , primarily driven by lower forecasted natural gas prices . these assets were not impaired ; however , a continued decline in energy market pricing would likely result in a future impairment . impairment of these assets could result in adverse impacts to the future results of operations , financial position and cash flows of commercial renewables . see note 11 to the consolidated financial statements , `` property , plant and equipment , `` for additional information . within this item 7 , see liquidity and capital resources for discussion of risks associated with the tax act . other replace_table_token_22_th year ended december 31 , 2019 , as compared to 2018 the variance was driven by the prior year severance charges related to a corporate initiative , prior year loss on sale of the retired beckjord station , and the absence in the current year of costs related to the piedmont acquisition , offset by obligations to the duke energy foundation in 2019. the following is a detailed discussion of the variance drivers by line item . operating expenses . the variance was primarily due to prior year severance charges related to a corporate initiative as well as costs associated with the piedmont acquisition , partially offset by obligations to the duke energy foundation in 2019. losses on sales of other assets and other , net . the variance was driven by the prior year loss on sale of the retired beckjord station , including the transfer of coal ash basins and other real property and indemnification from all potential future claims related to the property , whether arising under environmental laws or otherwise . other income and expenses , net . the variance was primarily due to higher returns on investments that fund certain employee benefit obligations and bison investment income . interest expense . the variance was primarily due to higher

