Duke Energy Corporation is an American electric power and natural gas
holding company
A holding company is a company whose primary business is holding a controlling interest in the Security (finance), securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own Share ...
headquartered in
Charlotte, North Carolina
Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina and the county seat of Mecklenburg County, North Carolina, Mecklenburg County. The population was 874,579 at the 2020 United ...
. The company ranked as the 141st largest company in the United States in 2024 – its highest-ever placement on the
Fortune 500
The ''Fortune'' 500 is an annual list compiled and published by ''Fortune (magazine), Fortune'' magazine that ranks 500 of the largest United States Joint-stock company#Closely held corporations and publicly traded corporations, corporations by ...
list.
Overview
Duke Energy is based in Charlotte, North Carolina. It owns 58,200
megawatts
The watt (symbol: W) is the unit of power or radiant flux in the International System of Units (SI), equal to 1 joule per second or 1 kg⋅m2⋅s−3. It is used to quantify the rate of energy transfer. The watt is named in honor o ...
of base-load and peak generation in the United States, which it distributes to its 7.2 million customers. It has approximately 29,000 employees. Duke Energy's service territory covers with of distribution lines. Almost all of Duke Energy's Midwest generation comes from coal,
natural gas
Natural gas (also fossil gas, methane gas, and gas) is a naturally occurring compound of gaseous hydrocarbons, primarily methane (95%), small amounts of higher alkanes, and traces of carbon dioxide and nitrogen, hydrogen sulfide and helium ...
, or oil, while half of its Carolinas generation comes from its
nuclear power plants
A nuclear power plant (NPP), also known as a nuclear power station (NPS), nuclear generating station (NGS) or atomic power station (APS) is a thermal power station in which the heat source is a nuclear reactor. As is typical of thermal power s ...
. During 2006, Duke Energy generated 148,798,332 megawatt-hours of electrical energy.
Duke Energy Renewable Services (DERS), a subsidiary of Duke Energy, specializes in the development, ownership, and operation of various generation facilities throughout the United States. This segment of the company operates 1,700 megawatts of generation. 240 megawatts of wind generation were under construction and 1,500 additional megawatts of wind generation were in planning stages. On September 9, 2008, DERS updated its projections for future
wind power
Wind power is the use of wind energy to generate useful work. Historically, wind power was used by sails, windmills and windpumps, but today it is mostly used to generate electricity. This article deals only with wind power for electricity ge ...
capacity. By the end of 2008, it would have over 500 MW of
nameplate capacity
Nameplate capacity, also known as the rated capacity, nominal capacity, installed capacity, maximum effect or gross capacity,
Piedmont Natural Gas
Piedmont Natural Gas Company, Inc. is a wholly owned subsidiary of Duke Energy. Piedmont is an energy services company whose principal business is the distribution of natural gas to over one million residential, commercial, industrial and power gen ...
History
The company began in 1900 as the Catawba Power Company when Walker Gill Wylie and his brother financed the building of a hydroelectric power station at India Hook Shoals along the Catawba River near India Hook, South Carolina. When Wylie needed additional funding to further his ambitious plan for construction of a series of hydroelectric power plants, Wylie convinced James B. Duke and his partner James Blaney to invest in the Southern Power Company, founded in 1905.
In 1917 James Blaney was the founder of the Wateree Power Company that was formed as a holding company for several utilities that had been founded and/or owned by Duke, and Blaney his associates, and in 1924 the name was changed to Duke Power. In 1927, most of the subsidiary companies, including Southern Power Company, Catawba Power Company, Great Falls Power Company, and Western Carolina Power Company were merged into Duke Power, although Southern Public Utilities, 100% owned by Duke Power, maintained a legally separate existence for the retail marketing of Duke-generated power to residential and commercial customers. Southern Public Utilities also operated transit systems, which Duke eventually converted from streetcars to buses.
In 1973, through its subsidiary, the Eastover Mining Company, Duke Power engaged in a lengthy contract dispute with the workers at the Brookside coal mine in
Harlan County, Kentucky
Harlan County is a county located in southeastern Kentucky. As of the 2020 United States census, 2020 census, the population was 26,831. Its county seat is Harlan, Kentucky, Harlan. It is classified as a moist county—one in which alcohol sale ...
. For thirteen months, workers picketed the company for improved medical benefits and the right to representation by the United Mine Workers of America, while Duke Power insisted on a no-strike clause in the miner's eventual labor contract. The strike culminated in the shooting and death of twenty-two year old miner, Lawrence D. Jones, by a foreman at the Duke Power-owned mine. Five days later, Duke Power would reach an agreement with the striking miners which included recognition of the new UMWA local, the rehiring of workers dismissed during the strike, and dropping charges related to the action.
In 1988, Nantahala Power & Light Co., which served southwestern North Carolina, was purchased by Duke from
Alcoa
Alcoa Corporation (an acronym for "Aluminum Company of America") is an American industrial corporation. It is the world's eighth-largest producer of aluminum. Alcoa conducts operations in 10 countries. Alcoa is a major producer of primary alu ...
. For many years it was operated as a separate division of Duke Power, operating under the Duke Power Nantahala Area brand. All former Nantahala operations now operate as Duke Energy Carolinas, although the former Nantahala hydroelectric dams operating in the area are operated as the Nantahala Region for regulatory and permitting purposes. The purchase of Nantahala gave Duke Power, and subsequently Duke Energy, it's first and only interconnection with the
TVA
The Tennessee Valley Authority (TVA) is a federally owned electric utility corporation in the United States. TVA's service area covers all of Tennessee, portions of Alabama, Mississippi, and Kentucky, and small areas of Georgia, North Carolina ...
.
In 1990, Duke sold its remaining transit operations. Duke Power merged with PanEnergy, a natural gas company, in 1997 to form Duke Energy. The Duke Power name continued as the electric utility business of Duke Energy until the Cinergy merger.
With the purchase of Cinergy Corporation announced in 2005 and completed on April 3, 2006, Duke Energy Corporation's customer base grew to include the
Midwestern United States
The Midwestern United States (also referred to as the Midwest, the Heartland or the American Midwest) is one of the four census regions defined by the United States Census Bureau. It occupies the northern central part of the United States. It ...
as well. The company operates
nuclear power
Nuclear power is the use of nuclear reactions to produce electricity. Nuclear power can be obtained from nuclear fission, nuclear decay and nuclear fusion reactions. Presently, the vast majority of electricity from nuclear power is produced by ...
plants, coal-fired plants, conventional
hydroelectric
Hydroelectricity, or hydroelectric power, is Electricity generation, electricity generated from hydropower (water power). Hydropower supplies 15% of the world's electricity, almost 4,210 TWh in 2023, which is more than all other Renewable energ ...
plants, natural-gas turbines to handle peak demand, and pumped hydro storage. During 2006, Duke Energy also acquired Chatham, Ontario-based Union Gas, which is regulated under the Ontario Energy Board Act (1998).
On January 3, 2007, Duke Energy spun off its gas business to form Spectra Energy. Duke Energy shareholders received 1 share of Spectra Energy for each 2 shares of Duke Energy. After the spin-off, Duke Energy now receives the majority of its revenue from its electric operations in portions of North Carolina, South Carolina, Kentucky, Ohio, and Indiana. The spinoff to Spectra also included Union Gas, which Duke Energy acquired the previous year.
In 2011, Duke Energy worked with Charlotte's business leader community to help build Charlotte into a
smart city
A smart city is an urban area that uses digital technology to collect data and operate services. Data is collected from citizens, devices, buildings, or cameras. Applications include traffic and transportation systems, power plants, utilities ...
. The group called the initiative "Envision Charlotte". At the time, the group decided on a goal to reduce energy use in the "urban core of the city by 20 percent". To do so, the group focused on making energy consumption changes to commercial buildings larger than 10,000 square feet.
On July 3, 2012, Duke Energy merged with
Progress Energy Inc
Progress Energy was a power generation and distribution company. Prior to its merger with Duke Energy, it was a Fortune 500 energy company with more than 21,000 megawatts of generation capacity and $9 billion in annual revenues. Headquartered in ...
with the Duke Energy name retained along with the
Charlotte, North Carolina
Charlotte ( ) is the List of municipalities in North Carolina, most populous city in the U.S. state of North Carolina and the county seat of Mecklenburg County, North Carolina, Mecklenburg County. The population was 874,579 at the 2020 United ...
, headquarters.
Duke announced on June 18, 2013, that CEO Jim Rogers was retiring and Lynn Good would become the new CEO. Rogers has been CEO and Chairman since 2006, while Good was Chief Financial Officer of Duke since 2009, having joined Duke in the 2006 Cinergy merger. Rogers' retirement was part of an agreement to end an investigation into Duke's Progress Energy acquisition in 2012.
In 2016, Duke Energy purchased Piedmont Natural Gas for $4.9 billion to become its wholly owned subsidiary. Duke Energy completed selling its remaining power operations in Central and South America for $1.2 billion months afterwards. At one point Duke Energy had more than 4,300 megawatts of electric generation in Latin America. It operated eight hydroelectric power plants in Brazil with an installed capacity of 2,307 megawatts.
The company expects to spend $13 billion upgrading the North Carolina grid from 2017.
On December 3, 2022, an attack was carried out on two Duke Energy substations located in
Moore County, North Carolina
Moore County is a County (United States), county located in the U.S. state of North Carolina. As of the 2020 United States census, 2020 census, its population was 99,727. Its county seat is Carthage, North Carolina, Carthage and its largest com ...
. Damage from the attack left up to 40,000 residents without electrical power for several days, with officials closing schools and declaring a state of emergency. The
Federal Bureau of Investigation
The Federal Bureau of Investigation (FBI) is the domestic Intelligence agency, intelligence and Security agency, security service of the United States and Federal law enforcement in the United States, its principal federal law enforcement ag ...
supported local investigators in case the incident met the definition of domestic terrorism under the Patriot Act.
Proposed nuclear plant
On March 16, 2006, Duke Power announced that a
Cherokee County, South Carolina
Cherokee County is a county in the U.S. state of South Carolina. As of the 2020 census, the population was 56,216. The county seat is Gaffney. The county was formed in 1897 from parts of York, Union, and Spartanburg counties. It was named ...
site had been selected for a potential new
nuclear power plant
A nuclear power plant (NPP), also known as a nuclear power station (NPS), nuclear generating station (NGS) or atomic power station (APS) is a thermal power station in which the heat source is a nuclear reactor. As is typical of thermal power st ...
. The site is jointly owned by Duke Power and
Southern Company
Southern Company is an American gas and electric utility holding company based in the Southern United States. It is headquartered in Atlanta, Georgia, with executive offices located in Birmingham, Alabama. As of 2021 it is the second largest ut ...
. Duke planned to develop the site for two
Westinghouse Electric Company
Westinghouse Electric Company LLC is an American nuclear power company formed in 1999 from the nuclear power division of the original Westinghouse Electric Corporation. It offers nuclear products and services to utilities internationally, includ ...
AP1000
The AP1000 is a nuclear power plant designed and sold by Westinghouse Electric Company. The plant is a pressurized water reactor with improved use of passive nuclear safety and many design features intended to lower its capital cost and improve ...
(advanced passive)
pressurized water reactor
A pressurized water reactor (PWR) is a type of light-water nuclear reactor. PWRs constitute the large majority of the world's nuclear power plants (with notable exceptions being the UK, Japan, India and Canada).
In a PWR, water is used both as ...
s. Each reactor would have been capable of producing approximately 1,117 megawatts. (See
Nuclear Power 2010 Program
The "Nuclear Power 2010 Program" was launched in 2002 by President George W. Bush, 13 months after the beginning of his presidency, in order to restart orders for nuclear power reactors in the U.S. by providing subsidies for a handful of Generat ...
.)
On December 14, 2007, Duke Power submitted a
Combined Construction and Operating License
The Combined Construction and Operating License (Regulatory Guide 1.206, COL) replaced the previous Draft Regulatory Guide 1145 as the licensing process for new nuclear power plants in the United States
The United States of America (USA), al ...
to the
Nuclear Regulatory Commission
The United States Nuclear Regulatory Commission (NRC) is an independent agency of the United States government tasked with protecting public health and safety related to nuclear energy. Established by the Energy Reorganization Act of 1974, the ...
, with an announcement that it will spend $160 million in 2008 on the plant with a total cost of $5 billion to $6 billion. The plant was approved in 2016.
In August 2017, Duke decided to seek permission from the North Carolina Utility Commission to cancel the project due to the bankruptcy of Westinghouse and "other market activity", although they retained the option of restarting the project at some point in the future if circumstances change.
This site would have been adjacent to the old site, which was never completed and abandoned in the early 1980s, and used by
James Cameron
James Francis Cameron (born August 16, 1954) is a Canadian filmmaker, who resides in New Zealand. He is a major figure in the post-New Hollywood era and often uses novel technologies with a Classical Hollywood cinema, classical filmmaking styl ...
as a film set for the 1989 movie ''
The Abyss
''The Abyss'' is a 1989 American science fiction film written and directed by James Cameron and starring Ed Harris, Mary Elizabeth Mastrantonio, and Michael Biehn. When an American submarine sinks in the Caribbean, a US search and recovery tea ...
''.
In 2018, Duke Energy announced that they had decided not to include new nuclear power in their long-range plans.
Headquarters buildings
J.A. Jones designed the first headquarters building, known as the Power Building, which was completed in 1927 at 440 South Church. It was five stories and . The Electric Center at 526 South Church Street opened in 1975 with an addition in 1988.
State Farm Insurance
State Farm Insurance is a group of mutual insurance companies throughout the United States with corporate headquarters in Bloomington, Illinois. Founded in 1922, it is the largest property, casualty and auto insurance provider in the United ...
sold the Power Building in 2004 for $8 million to The Dilweg Cos., who anticipated significant development. Novare Group bought at 408 South Church Street for $17 million from The Dilweg Cos. in a deal announced March 27, 2006.Doug Smith, "Atlanta Group Buys Power Building," ''The Charlotte Observer'', 28 March 2006, p. 1D. The Power Building was demolished February 24, 2007.
Duke Energy Center at 550 South Tryon Street was announced as the company's headquarters in 2009. The company announced May 17, 2021 that the headquarters will move in 2023 to Duke Energy Plaza, across the street from the current headquarters. Childress Klein is developing the new building, which will allow Duke to sell its Church Street and College Street buildings, and end its lease at 400 South Tryon. Previously named Charlotte Metro Tower, the 40-story building will be purchased when completed for up to $675 million by Childress Klein and CGA Capital, in the largest real estate deal in the city's history, announced in December 2019.
Finances
For the fiscal year 2017, Duke Energy reported earnings of US$3.059 billion, with an annual revenue of US$23.565 billion, an increase of 3.6% over the previous fiscal cycle. Duke Energy's shares traded at over $79 per share, and its market capitalization was valued at over US$58.8 billion in November 2018.
Environmental record
In 1999, the
United States Environmental Protection Agency
The Environmental Protection Agency (EPA) is an independent agency of the United States government tasked with environmental protection matters. President Richard Nixon proposed the establishment of EPA on July 9, 1970; it began operation on De ...
commenced an enforcement action against Duke Energy for making modifications to very old and deteriorating coal-burning power plants without getting permits under the Clean Air Act. Duke asserted that a "modification" under the Clean Air Act did not require a permit. Environmental groups asserted that Duke was using loopholes in the law to increase emissions. Initially, Duke prevailed at the trial court level, but in 2006 the case was argued before the
Supreme Court
In most legal jurisdictions, a supreme court, also known as a court of last resort, apex court, high (or final) court of appeal, and court of final appeal, is the highest court within the hierarchy of courts. Broadly speaking, the decisions of ...
('' Environmental Defense v. Duke Energy Corp.'' (05-848)). The Court unanimously ruled on April 2, 2007, that the modifications allowed the power plants to operate for more hours, increasing emissions, so Clean Air Act permits were needed.
In 2002, researchers at the
University of Massachusetts Amherst
The University of Massachusetts Amherst (UMass Amherst) is a public land-grant research university in Amherst, Massachusetts, United States. It is the flagship campus of the University of Massachusetts system and was founded in 1863 as the ...
identified Duke Energy as the 46th-largest corporate producer of
air pollution in the United States
Air pollution is the introduction of chemicals, Atmospheric particulate matter, particulate matter, or biotic material, biological materials into the Earth's atmosphere, atmosphere that cause harm or discomfort to humans or other living organisms ...
, with roughly 36 million
pounds of toxic chemicals released annually into the air. Major pollutants included
sulfuric
Sulfur (American spelling and the preferred IUPAC name) or sulphur ( Commonwealth spelling) is a chemical element; it has symbol S and atomic number 16. It is abundant, multivalent and nonmetallic. Under normal conditions, sulfur atoms form ...
and
hydrochloric acid
Hydrochloric acid, also known as muriatic acid or spirits of salt, is an aqueous solution of hydrogen chloride (HCl). It is a colorless solution with a distinctive pungency, pungent smell. It is classified as a acid strength, strong acid. It is ...
,
chromium
Chromium is a chemical element; it has Symbol (chemistry), symbol Cr and atomic number 24. It is the first element in Group 6 element, group 6. It is a steely-grey, Luster (mineralogy), lustrous, hard, and brittle transition metal.
Chromium ...
compounds, and
hydrogen fluoride
Hydrogen fluoride (fluorane) is an Inorganic chemistry, inorganic compound with chemical formula . It is a very poisonous, colorless gas or liquid that dissolves in water to yield hydrofluoric acid. It is the principal industrial source of fluori ...
. The
Political Economy Research Institute
The Political Economy Research Institute (PERI) is an independent research unit at the University of Massachusetts Amherst. According to its mission statement, it "...promotes human and ecological well-being through our original research". PERI was ...
ranks Duke Energy 13th among corporations emitting airborne pollutants in the United States. The ranking is based on the quantity (80 million pounds in 2005) and toxicity of the emissions. This change reflects the purchase of fossil fuel-heavy Cinergy, which occurred in 2005.
In early 2008, Duke Energy announced a plan to build the new, 800-megawatt Cliffside Unit 6 coal plant west of Charlotte, North Carolina. The plan has been strongly opposed by environmental groups such as Rising Tide North America,
Rainforest
Rainforests are forests characterized by a closed and continuous tree Canopy (biology), canopy, moisture-dependent vegetation, the presence of epiphytes and lianas and the absence of wildfire. Rainforests can be generally classified as tropi ...
Action Network, the community-based Canary Coalition as well as the
Southern Environmental Law Center
The Southern Environmental Law Center (SELC) is the largest 501(c)(3) environmental nonprofit organization in the southeastern United States, with more than 100 attorneys and 200 staff members overall working at the local, state, and federal leve ...
, which has threatened to sue Duke if it does not halt construction plans. On April 1, activists locked themselves to machinery at the Cliffside construction area as part of Fossil Fools Day.
Duke Energy has been "one of the most vocal advocates" for a "
cap-and-trade
Carbon emission trading (also called carbon market, emission trading scheme (ETS) or cap and trade) is a type of emissions trading scheme designed for carbon dioxide (CO2) and other greenhouse gases (GHGs). A form of carbon pricing, its purpose ...
ThinkProgress
''ThinkProgress'' was an American Progressivism in the United States, progressive news website that was active from 2005 to 2019. It was a project of the Center for American Progress#Center for American Progress Action Fund, Center for America ...
'' "and the company's CEO, Jim Rogers, thinks the company will profit from cap-and-trade". The company left the
National Association of Manufacturers
The National Association of Manufacturers (NAM) is an advocacy group headquartered in Washington, D.C., with additional offices across the United States. It is the nation's largest manufacturing industrial trade association, representing 14,000 s ...
in part over differences on climate policy.
In a joint venture with the French-based global energy firm AREVA, under the nominal name of ADAGE, Duke Energy has planned a "Green" biomass burning facility in Mason County, Washington and is negotiating with forestland owners to secure the 600,000 tons of wood debris it needs yearly to fuel its $250 million biomass plant.
The joint venture between electric power company Duke Energy and global nuclear services giant AREVA was created to build wood
waste-to-energy
Waste-to-energy (WtE) or energy-from-waste (EfW) refers to a series of processes designed to convert waste materials into usable forms of energy, typically electricity or heat. As a form of energy recovery, WtE plays a crucial role in both wa ...
power plants around the country.
ADAGE president Reed Wills announced the first Northwest outpost will be in the struggling timber town of Shelton, Washington.
The following pollutants are provided by DUKE-AREVA-ADAGE in their application for permit to the Department of Environmental Protection for a similar type of plant in Florida.
* 248 tons per year – particulate matter
* 288 tons per year – particulate matter 10
* 233 tons per year – particulate matter 2.5
* 249 tons per year – NOx (nitrogen oxides)
* 246 tons per year – SO2 (sulfur dioxide)
* 248 tons per year – CO (carbon monoxide)
* 40 tons per year – H2SO4 – (sulfuric acid mist)
* 63 tons per year – VOC (volatile organic compounds)
* 29 tons per year – F (fluorides)
Generating facilities
* This list is partially complete due to the July 3, 2012, merger with Progress Energy.
Biomass fired
*Shelton Biomass Facility (proposed)
Nuclear
*
Catawba Nuclear Station
The Catawba Nuclear Station is a nuclear power plant located on a peninsula, called "Concord Peninsula", that reaches out into Lake Wylie, in York, South Carolina, US. Catawba utilizes a pair of Westinghouse four-loop pressurized water reactor ...
Crystal River Energy Complex
The Crystal River Energy Complex consists of seven power-generating plants on a site near the mouth of the Crystal River in Citrus County, Florida. Crystal River 1, 2, 4, and 5 are fossil fuel power plants. Crystal River 3 was previously t ...
Dynegy
Dynegy Inc. is an electric company based in Houston, Texas. It owns and operates a number of power stations in the U.S., all of which are powered by fossil fuels. Dynegy was acquired by Vistra Corp on April 9, 2018. The company is located at 601 ...
William H. Zimmer Power Station
The William H. Zimmer Power Station, located near Moscow, Ohio, was a 1.35-gigawatt (1,351 megawatt, MW) fossil fuel power station#Coal, coal power plant. Planned by Cincinnati Gas and Electric (CG&E) (a forerunner of Duke Energy), with Columbus ...
(purchased by Dynegy, 2014)
Hydroelectric
Conventional hydro
Following is a list of Duke Energy's thirty conventional hydroelectric facilities, in order of average electric production. All properties are 100% owned by Duke, and all but Markland are located in North Carolina and South Carolina (Markland is located in southern
Indiana
Indiana ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Michigan to the northwest, Michigan to the north and northeast, Ohio to the east, the Ohio River and Kentucky to the s ...
).
* Blewett Falls Hydroelectric Plant
* Cowans Ford Hydro Station, 350 MW average capacity
* Keowee Hydro Station, 158 MW
* Walters Hydroelectric Plant, 112 MW
* Tillery Hydroelectric Plant, 87 MW
* Rocky Creek & Cedar Creek Hydro Stations, combined 73 MW
* Great Falls & Dearborn Hydro Stations, combined 70 MW
* Markland Hydro Station, 65 MW
* Mountain Island Hydro Station, 60 MW
* Lake Wylie Hydro Station, 60 MW
* Wateree Hydro Station, 56 MW
* Fishing Creek Hydro Station, 37 MW
* Oxford Hydro Station, 36 MW
* Bridgewater Hydro Station at Lake James, 31.5 MW
* Rhodhiss Hydro Station, 26 MW
* Lookout Shoals Hydro Station, 26 MW
* Blewett Hydroelectric Plant, 22 MW
* Ninety-Nine Islands Plant, 18 MW
* Gaston Shoals Plant, 9 MW
* Tuxedo Plant, 5 MW
* Marshall Plant, 4 MW
* and ten clustered locations at Nantahala, in mountainous southwestern North Carolina, producing a cumulative 99 MW
Pumped-storage hydro
*
Bad Creek Hydroelectric Station
The Bad Creek Hydroelectric Station is a pumped-storage hydroelectric power station located north of Salem, South Carolina, Salem in Oconee County, South Carolina, Oconee County, South Carolina. The power plant is owned by Duke Energy and its las ...
*Anclote Station
* Asheville Combustion Turbines
*Bartow Combined Cycle Station
*
Buck Steam Station
The Buck Steam Station is a 369- MW formerly coal-fired electrical power plant, owned by Duke Energy. There are also three natural gas-fueled combustion turbines at the location that provide an additional 93 MW (and which began operation in 1970 ...
*Buzzard Roost Station
*Cayuga Combustion Turbine Station
*Cliffside Steam Station
*Connersville Peaking Station
* Dan River Steam Station
* Darlington County Electric Plant
*Henry County Peaking Station
*Hines Energy Complex
* H.F. Lee Energy Complex
*Lee Steam Station
* W.S. Lee Steam Station
*Lincoln Combustion Turbine Station
*Madison Peaking Station
*Miami-Wabash Peaking Station
*Mill Creek Combustion Turbine Station
*Noblesville Station
*Rockingham Station
* Smith Energy Complex
* Sutton Combined Cycle Plant
*Wabash River Repowering Station
*Wheatland Peaking Station
*Woodsdale Station
Solar farms
Citing the falling cost of building solar farms, Duke Energy announced plans in 2017 to launch three new such projects in Kentucky. Two will be in Kenton County and one will be in Grant County. Together the three plants will create more than 6.7 MW of power. These join several other solar farms including:
* Davidson County Solar Farm
*Martins Creek Solar Farm 1 MW (Murphy, NC)
*Culberson Solar Farm 1 MW (Murphy, NC)
*Osceola Solar Facility 4 MW (St.Petersburg, Fla)
Additionally, Duke Energy added 451 MW of solar capacity to North Carolina's grid in 2017.
*Hamilton Solar Power Plant 74.9 MW (Jasper, FL)
*Columbia Solar Power Plant 74.9 MW (Fort White, FL) (opening in 2020)
*Live Oak Solar Power Plant ? MW (Live Oak, FL)
In 2020 Duke Energy began commercial operations of several farms in Texas, operating alongside its Farm from 2010.
* Blue Wing Solar Project (San Antonio, TX)
* Lapetus Solar Project 100 MW (Andrews County, TX)
* Holstein Solar Project 200 MW (Nolan County, TX)
* Rambler Solar Project 200 MW (Tom Green County, TX)
Wind farms
*
Los Vientos Wind Farm
Los Vientos Wind Farm is a 912 Watt#Megawatt, megawatt (MW) wind farm in Starr County, Starr and Willacy County, Willacy counties in South Texas. It is the second largest wind farm in the United States behind the Alta Wind Energy Center in Califo ...
Duke Energy announced in October 2018 that it would install 530
electric car
An electric car or electric vehicle (EV) is a passenger car, passenger automobile that is propelled by an electric motor, electric traction motor, using electrical energy as the primary source of propulsion. The term normally refers to a p ...
charging stations around Florida. Ten percent of the stations will go into low income communities.
Awards
Duke Energy has been chosen as one of The 50 Best Employers In America by Business Insider
In 2002, Duke Energy was awarded the Ig Nobel Prize in Economics for "adapting the mathematical concept of imaginary numbers for use in the business world".
Criticism
In December 2000, Cinergy Corp agreed to pay $1.4B to settle allegations that its coal plants illegally polluted the air. Duke Energy completed its acquisition of Cinergy Corp in 2006.
In July 2004, Duke Energy agreed to pay $208M to settle allegations that it had engaged in
price gouging
Price gouging is the practice of increasing the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair by some. This commonly applies to price increases of basic necessities after natural disaste ...
in California during the energy crisis of 2000 and 2001.
In December 2009, Duke Energy agreed to spend approximately $93M to resolve violations of the Clean Air Act. Duke became obligated to make investments that were expected to reduce
sulfur dioxide
Sulfur dioxide (IUPAC-recommended spelling) or sulphur dioxide (traditional Commonwealth English) is the chemical compound with the formula . It is a colorless gas with a pungent smell that is responsible for the odor of burnt matches. It is r ...
emissions by 86%.
On February 14, 2011,
Greenpeace
Greenpeace is an independent global campaigning network, founded in Canada in 1971 by a group of Environmental movement, environmental activists. Greenpeace states its goal is to "ensure the ability of the Earth to nurture life in all its biod ...
launched a campaign in which
Phil Radford
Philip David Radford (born January 2, 1976) is an American consumer and conservation leader, currently serving as the President and CEO of Consumer Reports, a nonpartisan nonprofit organization that works with consumers to foster truth, transpare ...
called on Duke Energy to abandon
mountaintop removal
Mountaintop removal mining (MTR), also known as mountaintop mining (MTM), is a form of surface mining at the summit or summit ridge of a mountain. Coal seams are extracted from a mountain by removing the land, or overburden, above the seams. T ...
coal, produce a third of its energy from renewable sources by 2020, and abandon coal altogether by 2030."
In May 2011, Duke agreed to pay $30M to resolve allegations that changes made to the company pension plan disproportionately harmed employees over 40, costing many of them up to half of their accrued benefits.
In December 2011, the non-partisan organization
Public Campaign
Every Voice was an American nonprofit, progressive liberal political advocacy organization.
criticized Duke Energy for spending $17.47 million on
lobbying
Lobbying is a form of advocacy, which lawfully attempts to directly influence legislators or government officials, such as regulatory agency, regulatory agencies or judiciary. Lobbying involves direct, face-to-face contact and is carried out by va ...
. It also criticized Duke for not paying any taxes from 2008 to 2010 and receiving $216 million in tax rebates, in spite of turning a $5.4 billion profit and extensively raising executive compensations.
In 2012, Greenpeace protested Duke's lobbying of the Democratic Party, including its
funding
Funding is the act of providing resources to finance a need, program, or project. While this is usually in the form of money, it can also take the form of effort or time from an organization or company. Generally, this word is used when a firm use ...
of the
2012 Democratic National Convention
The 2012 Democratic National Convention was a gathering, held from September 4–6, 2012, at the Time Warner Cable Arena in Charlotte, North Carolina, in which delegates of the Democratic Party nominated President Barack Obama and Vice Pr ...
.
In July 2012, Duke Energy was criticized for paying former Progress Energy CEO Bill Johnson $44.7 million in compensation, including a $10 million severance, for something close to 20 minutes on the job as Duke's CEO.
In 2012, Duke Energy sued
Citrus County, Florida
Citrus County is a County (United States), county located on the northwest central coast of the State (United States of America), U.S. state of Florida. As of the 2020 United States census, 2020 census, the population was 153,843. Its county s ...
claiming its tax bill was too high. The county hired an outside appraiser who found that there were a lot of unreported and underreported items and the tax claim was actually too low.
In May 2013, university students launched a campaign for Brown University to divest fossil fuels, specifically referring to Duke Energy and other coal plant operators.
On February 2, 2014, the massive Dan River coal-ash spill led to a grand jury investigation into Duke Energy. The initial investigation was overseen by Governor Pat McCrory, who was accused of intervening on Duke's behalf as he had been a Duke Energy employee for 28 years. Prosecutors went looking for any cash or items of value that might have been given to Governor McCrory and members of his administration in exchange for cheap settlements. Duke Energy was prosecuted, pled guilty to nine charges of
criminal negligence
In criminal law, criminal negligence is an offence that involves a breach of an objective standard of behaviour expected of a defendant. It may be contrasted with strictly liable offences, which do not consider states of mind in determining c ...
, and agreed to pay $102 million in fines and restitutions. Duke Energy was also ordered to close all of its 32 ash ponds in the state of North Carolina by 2029.
In September 2016, the
Government Pension Fund of Norway
The Government Pension Fund of Norway () is the sovereign wealth fund collective owned by the government of Norway. It consists of two entirely separate sovereign wealth funds: the Government Pension Fund Global (or Norges Bank Investment Mana ...
, then worth $900 billion, excluded Duke Energy and its subsidiaries from the fund, citing "risk of severe environmental damage".
In August 2020, environmental watchdog EWG released a report accusing Duke Energy of charging
Indiana
Indiana ( ) is a U.S. state, state in the Midwestern United States, Midwestern region of the United States. It borders Lake Michigan to the northwest, Michigan to the north and northeast, Ohio to the east, the Ohio River and Kentucky to the s ...
ratepayers for $12 billion worth of failed projects. This was the direct consequence of a controversial bill passed in Indiana earlier that year. Projects included two natural gas pipelines and two retired nuclear power plants.
In 2021, investigative reporting by the ''Orlando Sun Sentinel'' revealed that Duke Energy, FPL (
Nextera Energy
NextEra Energy, Inc. is an American energy company with about 58 GW of generating capacity (24 GW of which were from fossil fuel sources), revenues of over $18 billion in 2020, and about 14,900 employees throughout the US and Canada. It is the ...
), and
TECO Energy
TECO Energy Inc. is an energy-related holding company based in Tampa, Florida, and a subsidiary of Emera Incorporated. TECO Energy has several subsidiaries: Tampa Electric, which provides electricity to the Tampa Bay Area and parts of Central ...
put forth more than $3 million to promote "ghost" spoiler candidates in key Florida legislature races. The scheme involved former senator Frank Artiles and was effective in costing the Democrats at least one election.
In January 2021, Duke Energy agreed to a settlement, which the company proposed, to absorb $1.1 billion worth of coal-ash pond closure and cleanup costs, in
North Carolina
North Carolina ( ) is a U.S. state, state in the Southeastern United States, Southeastern region of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, South Carolina to the south, Georgia (U.S. stat ...
, between 2015 and 2030. The parties involved also waived all rights to challenge the "reasonableness and prudence" of Duke Energy's coal ash management practices and costs before March 2020. Duke estimates the costs to be between $8 and $9 billion, the settlement reduces the cost on the ratepayer by 60%.
In August 2021, Indiana city officials from Bloomington, Carmel, and West Lafayette, and other lawmakers sent a letter to Duke Energy deploring its progress towards renewables and asking it to stop overcharging low-income homes for electricity.
December 2022 rolling blackouts
In December 2022, a major winter storm impacted much of the United States. On December 24, 2022,
Christmas Eve
Christmas Eve is the evening or entire day before Christmas, the festival commemorating nativity of Jesus, the birth of Jesus in Christianity, Jesus. Christmas Day is observance of Christmas by country, observed around the world, and Christma ...
, Duke Energy implemented
rolling blackout
A rolling blackout, also referred to as rota or rotational load shedding, rota disconnection, feeder rotation, or a rotating outage, is an intentionally engineered electrical power shutdown in which electricity delivery is stopped for non-over ...
s for the first time in their history, due to unprecedented energy demand. The rolling blackouts came without warning and lasted hours. In addition to facility failures, Duke reported failures related to the software that regulated the controlled blackouts. The
Federal Energy Regulatory Commission
The Federal Energy Regulatory Commission (FERC) is an independent agency of the United States government that regulates the interstate transmission and wholesale sale of electricity and natural gas and regulates the prices of interstate transport ...
initiated an investigation in response to the blackouts.
See also
* 2005 Atlantic Power Outage
* '' Harlan County USA''—1976 Academy Award-winning documentary film covering the efforts of 180 coal miners on strike against the Duke Power Company in Harlan County, Kentucky, in 1973.
*
Fixed bill Fixed bill refers to an energy pricing program in which a consumer pays a predetermined amount for their total energy consumption for a given period. The price is independent of the amount of energy the customer uses or the unit price of the energy. ...