Duke Energy Corporation
Company Summary
Website
http://www.duke-energy.com/Financial Data:
NYSE:DUK from Google FinanceTickers:
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DUK - New York Stock Exchange
Related Entities
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Firm Transport Commitments
Project: Atlantic Coast Pipeline
Firm Commitment: 885,000 Dth/d
Project: NC 102 Solar Project
Firm Commitment: 102 MW
Recent news
- 2/2/2024 - Duke Energy Updates... (subscriber access)
- 10/30/2023 - Duke Energy Developing... (subscriber access)
- 10/26/2023 - Duke Energy Completes... (subscriber access)
- 10/26/2023 - Brookfield Rebrands... (subscriber access)
- 7/6/2023 - Duke Energy Streamlines... (subscriber access)
Investor Presentations
- 3Q17 Earnings Presentation
- 2Q17 Earnings Presentation (subscriber access)
- 1Q16 Investor Presenation (subscriber access)
Company Transactions
Date: 6/30/2019
Type: Acquisition
NOTES:
Duke Energy entered into a definitive agreement to sell a minority interest in a portion of its commercial renewable energy portfolio to John Hancock for $415 million.
Duke Energy entered into a definitive agreement to sell a minority interest in a portion of its commercial renewable energy portfolio to John Hancock for $415 million.
Date: 4/22/2019
Type: Acquisition
NOTES:
Duke Energy acquired the 150 MW North Rosamond solar project in Kern County, California from Clearway Energy Group
Duke Energy acquired the 150 MW North Rosamond solar project in Kern County, California from Clearway Energy Group
Date: 2/15/2017
Type: Acquisition
BUYERS:
China Three Gorges Corporation
SELLERS:
Duke Energy Corporation
DETAILS:
COST: 1.2 $B
VOLUMES: 2090 MW
NOTES:
China Three Gorges Corporation agreed to purchase Duke Energy's 2,090-megawatt business in Brazil for approximately $1.2 billion enterprise value
China Three Gorges Corporation agreed to purchase Duke Energy's 2,090-megawatt business in Brazil for approximately $1.2 billion enterprise value
REGIONS:
South America
Date: 12/21/2016
Type: Acquisition
NOTES:
Duke Energy announced that it has reached an agreement to sell its international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital for approximately $1.2 billion enterprise value (cash and the assumption of debt).
Duke Energy announced that it has reached an agreement to sell its international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital for approximately $1.2 billion enterprise value (cash and the assumption of debt).
REGIONS:
South America
Date: 10/3/2016
Type: Acquisition
REGIONS:
United States
Date: 5/2/2016
Type: Acquisition
BUYERS:
Duke Energy Corporation
SELLERS:
Community Energy Solar LLC
ASSETS:
Tarboro Solar Farm
Winton Solar Farm
Seaboard Solar Farm
Woodland Solar Farm
Gaston Solar Farm
Garysburg Solar Farm
PROJECTS:
Seaboard Solar Farm
DETAILS:
VOLUMES: 30 MW
REGIONS:
Southeast
Date:
Type: Acquisition
BUYERS:
Duke Energy Corporation
SELLERS:
Canadian Solar Inc
Recurrent Energy
PROJECTS:
Pflugerville Solar Project
DETAILS:
VOLUMES: 144 MW
NOTES:
Duke Energy Renewables has acquired the 144-MW Pflugerville Solar Project from Canadian Solar. The plant is expected online in mid-2021 and power will be sold to Austin Energy under a 15-year power purchase agreement.
Duke Energy Renewables has acquired the 144-MW Pflugerville Solar Project from Canadian Solar. The plant is expected online in mid-2021 and power will be sold to Austin Energy under a 15-year power purchase agreement.
REGIONS:
ERCOT
News & Press Releases
Criterion News
- 2/2/2024 - Duke Energy Updates... (subscriber access)
- 10/30/2023 - Duke Energy Developing... (subscriber access)
- 10/26/2023 - Duke Energy Completes... (subscriber access)
- 10/26/2023 - Brookfield Rebrands... (subscriber access)
- 7/6/2023 - Duke Energy Streamlines... (subscriber access)
- 6/23/2023 - Indiana's Solar Energy... (subscriber access)
- 6/13/2023 - Duke Energy to Sell... (subscriber access)
- 6/8/2023 - Duke Energy Corp.... (subscriber access)
- 4/14/2023 - Duke Energy Florida adds... (subscriber access)
- 4/4/2023 - Duke Energy Offers of... (subscriber access)
- 2/23/2023 - Duke Energy to Build EV... (subscriber access)
- 2/21/2023 - Duke Energy Reports EPS... (subscriber access)
- 1/30/2023 - Pacolet Completes JV... (subscriber access)
- 1/27/2023 - Duke Energy Begins... (subscriber access)
- 1/25/2023 - Utility Companies... (subscriber access)
- 1/19/2023 - Duke Energy Acquires... (subscriber access)
- 1/17/2023 - Duke Energy Gains... (subscriber access)
- 1/6/2023 - Duke Energy Rotates... (subscriber access)
- 1/3/2023 - Duke Energy To Re-Submit... (subscriber access)
- 12/16/2022 - FERC Raises Concerns... (subscriber access)
- 12/8/2022 - Duke Energy Completes... (subscriber access)
- 12/2/2022 - Dominion Energy Receives... (subscriber access)
- 11/22/2022 - Duke Energy Acquires 100... (subscriber access)
- 11/21/2022 - Onward Energy to Acquire... (subscriber access)
- 10/5/2022 - Duke Energy Forecasts... (subscriber access)
- 9/30/2022 - Duke Energy Creates EV... (subscriber access)
- 9/8/2022 - Duke Energy, TECO, and... (subscriber access)
- 8/18/2022 - Duke Energy Seeks... (subscriber access)
- 8/16/2022 - Supply Chain Issues... (subscriber access)
- 5/17/2022 - Duke Carolinas to... (subscriber access)
Press Releases
- Delivering value to customers – Duke Energy's 7.7 million electric customers continue to benefit from rates below the national average, while also receiving strong reliability. The company prioritizes low rates even as it executes on its five-year, $58 billion capital plan.
- Combating climate change – Since 2005, Duke Energy has reduced its carbon emissions by 39%. The company is on track to reduce its carbon emissions by at least 50% by 2030 and attain its goal of net-zero carbon emissions by 2050. Last year, the company also released a goal of net-zero methane emissions across our local gas distribution companies by 2030.
- Investing in renewable energy – Duke Energy is one of the top 10 owners of wind and solar in the U.S. Since 2007, the company has grown its renewable generation portfolio and now has more than 8,000 megawatts (MW) of wind, solar and biomass capacity owned or under contract. The company plans to double its renewables portfolio over the next five years. By 2030, the regulated renewables capacity will at least triple.
- Powering communities through COVID-19 – Last year, Duke Energy was one of the first utilities to proactively suspend disconnections for nonpayment for customers and waive payment fees. The company continues to engage with customers to offer them flexible billing arrangements. Duke Energy and its foundation donated more than $8 million to various relief organizations to help support communities in need during the pandemic.
- Funding for Share the Warmth (STW) comes from Duke Energy customers, employees and the Duke Energy Foundation. The Duke Energy Foundation will match dollar for dollar up to $500,000 in customer contributions during the heating season. The Share the Warmth program provides financial assistance for heating bills during the winter season for those in need within the Duke Energy service territory in the Carolinas.
- Over 80 agencies within the Duke Energy service territory in the Carolinas assist in the distribution of the funds. Eligibility is based on need and not income guidelines and determined by our STW agencies.
- On the web: Share the Warmth - Energy Assistance - Duke Energy (duke-energy.com)
- Provides financial assistance to qualified customers who are at or below 150% of the federal poverty limit.
- Funding for Energy Neighbor Fund comes from Duke Energy Progress customers, employees and the Duke Energy Foundation. The Duke Energy Foundation will match dollar for dollar up to $500,000 in customer contributions throughout the year.
- On the web: Energy Neighbor Fund
- This program, funded by Duke Energy shareholders, employees and customers, lends a Helping Hand to customers who are least able to cope with their electric bills.
- Duke Energy has more than $460,000 dedicated to its Indiana customers in need this winter.
- Duke Energy has partnered with the Indiana Community Action Association Energy Assistance Program (EAP) to distribute the program dollars. The EAP agencies will notify recipients if they are eligible for up to a $300 credit toward their electric bill.
- On the web: Helping Hand
- Funding for HeatShare comes from Duke Energy shareholders, employees and customers. Duke Energy donates $100,000 and will match dollar for dollar up to $100,000 in employee and customer contributions.
- HeatShare is administered by The Salvation Army. Eligible customers may apply for one-time annual assistance up to $400 beginning mid-January through July 31 or until funds are depleted.
- Eligibility is based on need and doesn't follow government income assistance guidelines.
- On the web: HeatShare
- Funding for WinterCare comes from Duke Energy shareholders, employees and customers. Duke Energy donates $25,000 and will match dollar for dollar up to $25,000 in employee and customer contributions.
- WinterCare is administered by the Northern Kentucky Community Action Commission (NKCAC). Eligibility and the distribution of funds are determined on a case-by-case basis.
- Eligible customers may receive assistance up to $300 during the year as long as funds are available.
- On the web: WinterCare
- Funding for Energy Neighbor Fund comes from Duke Energy customers, employees and the Duke Energy Foundation. The Duke Energy Foundation will match dollar for dollar up to $500,000 in customer contributions annually.
- ENF funds are allocated by county on a monthly basis to 14 partner United Way and other social service agencies to assist Duke Energy Florida customers, based on need.
- On the web: Energy Neighbor Fund
- Reduce your thermostat to the lowest comfortable setting when home, and bump the thermostat down a degree or two when leaving home.
- One of the easiest things customers can do to support heating efficiency is to change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Leave drapes or blinds open during sunny winter days to allow the sun's rays to warm the house, but close them at night to help insulate your home.
- Reduce your thermostat to the lowest comfortable setting when home, and bump the thermostat down a degree or two when leaving home.
- One of the easiest things customers can do to support heating efficiency is to change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Leave drapes or blinds open during sunny winter days to allow the sun's rays to warm the house, but close them at night to help insulate your home.
- The added convenience for customers to choose an extended payment arrangement that meets their needs online, anytime. Click here for more information.
- Duke Energy Progress customers who need additional assistance can visit the Energy Neighbor Fund website to learn how community agencies can help pay energy bills. In addition, 211.org is a division of United Way that helps connect customers with available financial support. You can visit the site online, or simply dial 211.
- Resources are available here for small business customers as they are reopening, from financial assistance to billing and payment options to professional guidance to manage their energy usage.
- Threat to disconnect: Scammers may aggressively tell a customer their utility bill is past due, and service will be disconnected—usually within an hour—if a payment is not made.
- Request for immediate payment: Scammers might instruct a customer to purchase a prepaid card, cryptocurrency, or to send funds via a mobile app to make a bill payment.
- Request for prepaid card or payment through certain mobile apps: Customers are instructed to pay with a prepaid debit card. The impostor asks for the prepaid card's number, which grants instant access to the card's funds. More recently, customers have also been instructed to send a payment through a mobile app. Duke Energy currently does not accept payments through the Cash App, Venmo or Zelle apps. However, customers can make payments on Duke Energy's mobile app available in the Apple App Store for iOS and the Google Play Store for Android.
- Personal information: During the COVID-19 crisis, criminals are promising to mail refund checks for overpayments on their accounts if they can confirm their personal data, including birthdays and, in some cases, Social Security numbers. Duke Energy will apply refunds as a credit to customers' accounts and will not contact customers to verify personal information by phone, email or in person in order to mail a check.
- Customers should never purchase a prepaid card to avoid service interruption. Utility companies do not specify how customers should make a bill payment and always offer a variety of ways to pay a bill, including online payments, phone payments, automatic bank drafts, mail, or in person.
- If someone threatens immediate service interruption, customers should be aware. Customers with past due accounts receive multiple advanced notices, typically by mail and in their regular monthly bill. Utilities will never notify of a disconnection in one hour or less.
- If customers suspect someone is trying to scam them, they should hang up, delete the email, or shut the door. The utility should be contacted immediately at the number on the most recent monthly bill or on the utility's official website, not the phone number the scammer provides. If customers ever feel that they are in physical danger, they should call 9-1-1.
- The company is on track to achieve its 2030 goal of reducing carbon emissions from electricity generation by at least 50% from 2005 levels and be net-zero carbon by 2050.
- Duke Energy will double its enterprisewide renewable portfolio from 8 gigawatts to 16 gigawatts by 2025, and at least triple renewable capacity for its regulated utilities by 2030.
- The company will reduce its methane emissions in its natural gas business to net-zero by 2030.
- During 2019, Duke Energy helped communities attract more than 15,000 new jobs and $7.1 billion in capital investment to its service territories.
- Increasing the percentage of underrepresented employee groups, specifically females and minorities, is a Duke Energy priority. The company has an aspirational goal to increase the percentage of females and minorities in its workforce to 25% and 20%, respectively
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app (download the Duke Energy app on your smartphone via Apple Store or Google Play).
- Text OUT to 57801 (standard text and data charges may apply).
- Call Duke Energy's automated outage-reporting system: 800.228.8485.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required. When checking on neighbors and friends, be sure to follow social distancing recommendations (staying at least 6 feet from others) and other CDC recommendations to protect yourself and others.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you need to go to a disaster shelter, follow CDC recommendations for staying safe and healthy in a public disaster shelter during the COVID-19 pandemic.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, National Weather Service and media for changing weather conditions and rising lake and river levels.
- High-water conditions can create navigational hazards, and the public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- If rising water threatens your home – or if you evacuate your home – turn off your power at the circuit breaker panel or fuse box.
- Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over – and don't stand near – downed power lines.
- Downed lines will be hard to see in the rain and can potentially be hidden in standing water. If you encounter large pools of standing water, stop, back up and choose another path.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make repairs and obtain verification from your local building inspection authority before power can be restored.
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about four hours if it is unopened. If the power will be out for more than four hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app (download the Duke Energy App on your smartphone via Apple Store or Google Play).
- Text OUT to 57801 (standard text and data charges may apply).
- Call Duke Energy's automated outage-reporting system:
- Duke Energy Carolinas: 1-800-POWERON (1-800-769-3766)
- Duke Energy Progress: 800.419.6356
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app (download the Duke Energy App on your smartphone via Apple Store or Google Play).
- Text OUT to 57801 (standard text and data charges may apply).
- Call Duke Energy's automated outage-reporting system:
- Duke Energy Carolinas: 1-800-POWERON (1-800-769-3766)
- Duke Energy Progress: 800.419.6356
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about four hours if it is unopened. If the power will be out for more than four hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app (download the Duke Energy App on your smartphone via Apple Store or Google Play).
- Text OUT to 57801 (standard text and data charges may apply).
- Call Duke Energy's automated outage-reporting system:
- Duke Energy Carolinas: 1-800-POWERON (1-800-769-3766)
- Duke Energy Progress: 800.419.6356
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about four hours if it is unopened. If the power will be out for more than four hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines, water, non-perishable foods and other supplies that might be hard to find after a storm strikes. Your emergency kit should also include items that can help protect you and others from COVID-19, such as hand sanitizer, bar or liquid soap, and face coverings aligned with CDC guidance.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of storms to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required. When checking on neighbors and friends, be sure to follow social distancing recommendations (staying at least 6 feet from others) and other CDC recommendations to protect yourself and others.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you need to go to a disaster shelter, follow CDC recommendations for staying safe and healthy in a public disaster shelter during the COVID-19 pandemic.
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app (download the Duke Energy App on your smartphone via Apple Store or Google Play).
- Text OUT to 57801 (standard text and data charges may apply).
- Call Duke Energy's automated outage-reporting system:
- Duke Energy Carolinas: 1-800-POWERON (1-800-769-3766)
- Duke Energy Progress: 800.419.6356
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines, water, non-perishable foods and other supplies that might be hard to find after a storm strikes. Your emergency kit should also include items that can help protect you and others from COVID-19, such as hand sanitizer, bar or liquid soap, and face coverings aligned with CDC guidance.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of storms to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required. When checking on neighbors and friends, be sure to follow social distancing recommendations (staying at least 6 feet from others) and other CDC recommendations to protect yourself and others.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you need to go to a disaster shelter, follow CDC recommendations for staying safe and healthy in a public disaster shelter during the COVID-19 pandemic.
- Duke Energy's webpage: duke-energy.com/lakes.
- Duke Energy's lake services phone line: 800.829.5253.
- Duke Energy's free Lake View app (download on your smartphone via Apple Store or Google Play).
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about four hours if it is unopened. If the power will be out for more than four hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Prospera – Help Hispanic-owned businesses achieve greater disaster preparedness and resiliency, reopen or recover more quickly from the impacts of COVID-19 ($50,000)
- Clearwater Jazz Holiday – Support the virtual Journey through Jazz afterschool program in economically challenged communities ($15,000)
- Holocaust Museum – Support free virtual lessons for grades 1 to 12 to promote civility and embracing differences between people ($15,000)
- John Morroni Legacy Foundation – Support first responder mental health initiative ($15,000)
- Council on Aging of Volusia County – Provide hurricane preparedness kits for seniors ($9,800)
- Museum of Art -Deland – Support classroom arts collaboration program in Title I schools ($10,000)
- Orlando Ballet – Provide free lessons for underserved children ($5,000)
- Orlando Philharmonic, Young People's Concerts – Introduce elementary students to the arts in Title I schools in Volusia and Seminole counties ($10,000)
- Polk Ecumenical Action Council for Empowerment – Address affordable housing ($5,000)
- Seminole County Schools Foundation – Provide digital tools for Take Stock in Children program ($5,000)
- United Arts of Central Florida – Address the underrepresentation of people of color in the arts in Central Florida ($50,000)
- Volusia Schools FUTUTRES Foundation – Provide digital tools for Take Stock in Children program ($5,000)
- Apalachicola Main Street – Develop educational programming that chronicles the life and legacy of abolitionist, author and lecturer Moses Roper ($10,000)
- Big Bend Minority Chamber of Commerce – Assist 40 women- and minority-owned businesses with business continuity planning workshops ($10,000)
- Council on Culture and Arts – Tallahassee-Leon County Cultural Resources Commission ($5,000)
- Forgotten Coast en Plein Air 2021 – Support artist residencies in the Forgotten Coast to explore a community issue or challenge ($19,000)
- Gainesville Area Chamber: Greater Gainesville Coalition for Change – Increase equity in business community ($10,000)
- Hillside Coalition of Labor – Support educational materials for African-American History Festival ($5,000)
- Ocala Marion Chamber of Economic Partnership – Provide direct technical assistance to businesses in Ocala's majority-minority communities ($5,000)
- Double its enterprise-wide renewable portfolio from 8 gigawatts to 16 gigawatts by 2025, at least triple renewable capacity for our regulated utilities by 2030, and bring our regulated renewable capacity total to 40 gigawatts by 2050;
- Add more than 11,000 megawatts of energy storage across our system by 2050 and continue to invest and advocate for emerging technologies;
- Accelerate the amount of coal plants it plans to retire, adding to the 50 coal units, which total more than 6,500 megawatts, retired since 2010; and
- Retire all coal-only units by 2030 in the Carolinas.
- Employing new technologies for measuring and monitoring, operational efficiencies and damage prevention initiatives in its natural gas business
- Procuring natural gas from suppliers that balance low methane emissions with affordable energy for customers.
- The impact of the COVID-19 pandemic;
- State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;
- The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;
- The ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process;
- The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;
- Costs and effects of legal and administrative proceedings, settlements, investigations and claims;
- Industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of our service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, such as self-generation and distributed generation technologies;
- Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs;
- Advancements in technology;
- Additional competition in electric and natural gas markets and continued industry consolidation;
- The influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;
- The ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources;
- The ability to obtain the necessary permits and approvals and to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business;
- Operational interruptions to our natural gas distribution and transmission activities;
- The availability of adequate interstate pipeline transportation capacity and natural gas supply;
- The impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events, such as fires, explosions, pandemic health events or other similar occurrences;
- The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers;
- The timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;
- The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions;
- Credit ratings of the Duke Energy Registrants may be different from what is expected;
- Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;
- Construction and development risks associated with the completion of the Duke Energy Registrants' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;
- Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;
- The ability to control operation and maintenance costs;
- The level of creditworthiness of counterparties to transactions;
- The ability to obtain adequate insurance at acceptable costs;
- Employee workforce factors, including the potential inability to attract and retain key personnel;
- The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);
- The performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities;
- The effect of accounting pronouncements issued periodically by accounting standard-setting bodies;
- The impact of U.S. tax legislation to our financial condition, results of operations or cash flows and our credit ratings;
- The impacts from potential impairments of goodwill or equity method investment carrying values; and
- The ability to implement our business strategy, including enhancing existing technology systems.
- Duke Energy will install, own and operate 60 fast chargers across Duke Energy Carolinas and Duke Energy Progress South Carolina territories to provide a foundational level of infrastructure and facilitate EV market growth. Fast chargers installed under this program will feature next-generation power output of 100 kilowatts (kW) and above, ensuring South Carolina keeps pace with advances in the market.
- This program will provide up to a total of $1,000 for 400 residential Duke Energy Carolinas customers who install a Level 2 charging station, provide access to their charging data, and manage EV charging load to occur during off-peak periods.
- The added convenience for customers to choose an extended payment arrangement that meets their needs online, anytime. Click here for more information.
- Duke Energy Carolinas customers who need additional assistance can visit the Share the Warmth website to learn how community agencies can help pay energy bills.
- Resources are available here for small business customers as they are reopening, from financial assistance to billing and payment options to professional guidance to manage their energy usage.
- Clearwater Marine Aquarium – Animal Care Fund ($100,000)
- Tampa Bay Watch – Bay Grasses in Classes service-learning program ($10,000)
- Bok Tower Gardens – Restoration of rare plant habitat ($25,000)
- Oakland Nature Preserve – Habitat restoration to support water quality and gopher tortoises ($20,100)
- Back to Nature Wildlife – Wildlife rehabilitation ($2,500)
- Florida Museum of Natural History – "The Story of Florida Water," a new permanent exhibit ($100,000)
- Franklin Promise Coalition – Oyster habitat creation and disaster preparedness programs ($28,000)
- University of Florida – Sportfish snook research ($25,800)
- Rainbow River Conservation – Historical interpretive signage ($2,412)
- Audubon Society of Florida – Bald Eagle Conservation Program ($40,000)
- The City of Charlotte will buy the output from a 35-MW facility in Iredell County.
- Bank of America will buy the output from a 25-MW facility planned by Silver Pine Energy Holdings.
- Jurisdictional electrification: The company is pursuing pilot programs for electrification in our jurisdictions:
- In late 2018, Duke Energy launched an EV charging-station pilot in Florida called Park and Plug to encourage clean transportation.
- Duke Energy has installed 500 charging stations, which have been used more than 13,000 times since the program launched in late 2018.
- Approximately 15% of these charging stations have been installed in income-qualified communities.
- The project has been consistently ahead of schedule and under budget, proving utility programs can effectively and efficiently deploy needed EV charging infrastructure.
- Like its program in Florida, Duke Energy has applied for pilot programs in the Carolinas and Ohio, pending commission approvals.
- The active program in Florida and the proposed pilot programs in the Carolinas and Ohio will add approximately 5,700 EV chargers to Duke Energy's service areas, including about 2,200 residential EV chargers.
- Employee programs:
- The company is on track to install more than 200 workplace chargers for employees by the end of 2020.
- The company offers a rebate of $3,000 to employees who purchase an EV and $1,500 to employees who choose to lease an EV.
- Duke Energy measures reductions in CO2 emissions and petroleum annually and will reach the following levels by 2030:
- CO2 emissions: Reduced by 60,000 metric tons per year
- Petroleum usage: Reduced by 10 million gallons per year
- Will reduce nitrogen oxides (NOx), volatile organic compounds (VOCs) and particulate matter (PM) emissions.
- Online tools so customers can directly choose an extended payment arrangement that meets their individual needs. Customers can make a six-month payment arrangement with zero down payment. We ask customers who need more time to contact us to discuss their specific situation and needs.
- Customers who need additional assistance can visit the Energy Neighbor Fund webpage to learn how community agencies can help pay energy bills.
- Professional guidance for small business customers to help analyze their energy usage, discuss energy rates and identify solutions to help lower their energy bills as they are reopening.
- To make it easier to pay, the company will continue waiving credit/debit card and walk-in payment fees for residential customers for an additional two months once billing and payment practices resume. These fees will resume in November.
- Customers who need financial assistance are encouraged to visit 211.org or call 211 to locate available resources. The free service can help customers find local community agencies that provide assistance to meet a wide range of needs, including medical expenses and health counseling, child and elder care, housing, food and other essentials and utility bills.
- Federally funded programs like the Low-Income Home Energy Assistance Program (LIHEAP). Additional funds were added to the program due to the pandemic, and the state is urging utility customers to apply through statewide community action agencies. Click here for details.
- The added convenience for customers to choose an extended payment arrangement that meets their needs online, anytime. Click here for more information. Customers participating in an extended payment arrangement will not be at risk of service disconnection.
- Duke Energy Progress customers who need additional assistance can visit the Energy Neighbor Fund webpage to learn how community agencies can help pay energy bills.
- Duke Energy Carolinas customers who need additional assistance can visit the Share the Warmth webpage to learn how community agencies can help pay energy bills.
- Resources are available here for small business customers as they are reopening, from financial assistance to billing and payment options to professional guidance to manage their energy usage.
- To make it easier to pay, the company will continue waiving credit and debit card fees for residential customers until further notice. Walk-in payment fees for residential customers will resume in December.
- Dillon County: The Woodle Site is a 163-acre property that is located adjacent to Inland Port Dillon and is just 2 miles from Exit 190 on Interstate 95. It's logistical advantage, along with its ample access to utilities and a skilled and plentiful workforce, makes this the ideal site for distribution facilities and manufacturing.
"We are excited to have partnered with Duke Energy to develop an excellent site here in Dillon County through their Site Readiness Program. The program allowed us to not only identify the Woodle Site as a potential industrial site, but also enabled us to complete some of the due diligence and master planning for this site that we would have been unable to complete otherwise. The county believes the Woodle Site will immediately become one of our top sites here in Dillon County as its unmatched proximity to Inland Port Dillon and access to Interstate 95 making it a logistics haven." – Clay Young, Director, Dillon County Economic Development - Lancaster County: Located 45 minutes south of Charlotte, the Springs Grace Complex offers a phenomenal industrial redevelopment opportunity that is one of the most attractive large heavy manufacturing properties in the state. Totaling 332 useable acres, the property is located just off S.C. 9 and provides easy access to nearby Interstate 77. Significant electrical power, rail service and an active water-withdrawal permit that allows for an intake of at least 18 million gallons per day from the adjacent Catawba River are some of the property's premier assets.
"The value of Lancaster County's participation in the Duke Energy Site Readiness Program has been immeasurable to our efforts over the years to expand the county's inventory of viable and available industrial properties. As a result of this excellent program, Lancaster County has been able to win new industrial projects and secure funding to undertake critical infrastructure improvements to county-owned properties. Additionally, property owners have taken the initiative to have key recommended due-diligence items prepared that enhance the marketability of their sites so that they are better able to attract industrial projects. We are thankful that Duke Energy has made Site Readiness available to us and look forward to locating more industrial projects to those properties that have been able to benefit as part of the program." -- Jamie Gilbert, Executive Director, Lancaster County Department of Economic Development - Newberry County: The Newberry South Industrial Site is a 192-acre single-owner property that is located on S.C. 34 about 2 miles from 4-lane U.S. 76 and 6 miles from Interstate 26. This central location halfway between Columbia and Greenville avails itself to a workforce of more than 415,000. The site is well-served with all utilities and is ideal for larger manufacturing entities.
"Making steady economic progress as a small county is difficult. Newberry County's growth strategy is to leverage mutually beneficial partnerships wherever we can, so we can compete above our weight class for great economic development projects. Our historic and continued partnerships with Duke Energy are absolutely key to this community's continued success. I'm extremely grateful to Duke Energy for believing in our community, and investing in our future shared prosperity. Together, we can't lose." – Rick Farmer, Director, Newberry County Economic Development - Burke County: The Hickory Airport Industrial Site offers a unique opportunity for any company that needs direct access to a commercial airport. The airport offers a runway that will soon exceed 7,000 feet and has all the amenities needed to handle commercial air travel. The site itself is more than 150 acres (with land inside the airport fence and immediately adjacent to the airport), has an abundance of infrastructure capacity already in-place and can handle multiple structures to meet most industrial needs. The site has direct access to U.S. 321 and is located within 4 miles of Interstate 40.
- Catawba County: The SE Catawba County Business Park is a 55-acre site located just off of N.C. 16 and N.C. 150 in Catawba County. The park is 30 minutes from the Charlotte Douglas International Airport, making it ideal for development as a corporate headquarters location, a light manufacturing facility, a research and development center or a mixed-use residential and commercial development. Electrical, water and sewer infrastructure are available at the site with natural gas lines within 2,000 feet.
- Edgecombe County: The 76-acre Bulluck Tract South Site is located an hour east of Research Triangle Park and the Raleigh-Durham International Airport, and just minutes from Interstate 95. Within an easy 2-hour drive from ports in both Norfolk, Va., and Wilmington, the site features more than half of a mile of CSX mainline rail frontage, is adjacent to the CSX Rocky Mount Terminal and is less than 10 miles from the new CSX Carolina Connector Intermodal Terminal. With abundant utilities in place, including Duke Energy Progress distribution and transmission lines on site, the site is ideal for industrial manufacturing and distribution.
"The Duke Energy Site Readiness Program has been a great asset to Edgecombe County's economic development efforts. The program assembled expertise from the site selection, civil engineering, utility, economic development and landowner groups all for the purpose of advancing a common economic growth vision. We are extremely thankful for the support of Duke Energy and their commitment to proactive community engagement." – Oppie Jordan, Director, Vice President, Edgecombe County Carolinas Gateway Partnership - Granville County: The Century 21 Site is a 194-acre tract located off Interstate 85 near Oxford. The site has excellent frontage on I-85 and offers excellent access to the interstate. It is located within a 45-minute drive of the Research Triangle Park and the Raleigh-Durham International Airport.
- Lee County: The Lee Brick Site is a 321-acre tract in Sanford. The site features rail frontage on Norfolk Southern Railroad track and offers good access to U.S. 1. It is located within a 45-minute drive of the Research Triangle Park and the Raleigh-Durham International Airport. Sanford is also centrally located between Raleigh, Durham and Fayetteville.
- Nash County: The 142-acre N.C. Highway 97 Industrial Site located on Interstate 95 is an ideal location for advanced manufacturing, food processing and logistics companies. The county-owned N.C. Highway 97 site is strategically positioned on the Eastern Seaboard between New York and Miami with accessibility to major markets and supply chains. Nash County's N.C. Tier 1 ranking designates the N.C. Highway 97 site as a high priority location for state incentives. The site is in a Foreign Trade Zone and provides convenient access to three sea ports, Carolina Connector-CSX intermodal rail terminal, regional airport and Raleigh-Durham International Airport.
"The acceptance of our N.C. Highway 97 site into the Duke Energy Site Readiness Program helps distinguish Nash County sites as shovel ready thanks to the program's ensuring due diligence and quality. Nash County now has two Duke Energy site readiness properties for companies who are looking for their next premier business location." – Andy Hagy, Director, Nash County Department of Economic Development - An 18-megawatt lithium battery site will be built at the company's 45-megawatt Lake Placid Solar Power Plant, which came online in December 2019. The addition of battery energy storage to the utility-scale solar plant will be the first of its kind for Duke Energy Florida. It will allow solar energy to be dispatchable for Duke Energy Florida grid operators and improve overall plant efficiency.
- An 8.25-megawatt Micanopy lithium battery site will be located 15 miles southwest of Gainesville in Alachua County. The battery storage site provides a cost-effective solution for focused power quality and reliability for the town of Micanopy and nearby neighbors.
- A 3.5-megawatt solar plus storage microgrid site will be added at Pinellas County's John Hopkins Middle School. The microgrid will support grid operations and provide backup electric power to the school when it must operate as a special need's hurricane evacuation shelter. The microgrid consists of a 1-megawatt solar parking canopy array and a 2.5-megawatt battery and controls, which will store and deploy clean, renewable energy to the school and grid. The project enhances electric service and grid operations for customers.
- Business customers: piedmontng.com/Extension
- Residential customers: piedmontng.com/ExtraTime
- 211.org
- Helps customers find local community agencies providing assistance with a wide range of needs.
- Share the Warmth
- Assists families with their utility bills, no matter the source of energy they use.
- Low Income Home Energy Assistance Program (LIHEAP)
- Helps low-income households, with special attention to households that spend a high percentage of their total income on home energy.
- Federally funded programs like LIHEAP are available. Additional funds were added to the program due to the pandemic, and the state is urging utility customers to apply through statewide community action agencies. Click here for details.
- The added convenience for customers to choose an extended payment arrangement that meets their needs online, anytime. Click here for more information.
- Duke Energy Progress customers who need additional assistance can visit the Energy Neighbor Fund webpage to learn how community agencies can help pay energy bills.
- Duke Energy Carolinas customers who need additional assistance can visit the Share the Warmth webpage to learn how community agencies can help pay energy bills.
- Resources are available here for small business customers as they are reopening, from financial assistance to billing and payment options to professional guidance to manage their energy usage.
- To make it easier to pay, the company will continue waiving walk-in payment fees for customers for an additional two months once standard billing and payment practices resume.
- Utility bills
- Housing, food and other essentials
- Child and elder care
- Medical expenses and health counseling
- Federally funded programs like the Low-Income Home Energy Assistance Program (LIHEAP). Additional funds were added to the program due to the pandemic, and the state is urging utility customers to apply through statewide community action agencies. Click here for details.
- The added convenience for customers to choose an extended payment arrangement that meets their needs online, anytime. Click here for more information.
- Duke Energy Progress customers who need additional assistance can visit the Energy Neighbor Fund webpage to learn how community agencies can help pay energy bills.
- Duke Energy Carolinas customers who need additional assistance can visit the Share the Warmth webpage to learn how community agencies can help pay energy bills.
- Resources are available here for small business customers as they are reopening, from financial assistance to billing and payment options to professional guidance to manage their energy usage.
- To make it easier to pay, the company will continue waiving credit and debit card fees for residential customers until further notice. Walk-in payment fees for residential customers will resume in December.
- Duke Energy Carolinas: 1.800.777.9898
- Duke Energy Progress: 1.800.452.2777
- Utility bills
- Housing, food and other essentials
- Child and elder care
- Medical expenses and health counseling
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app – download the Duke Energy App from a smartphone via Apple Store or Google Play.
- Text OUT to 57801 (standard text and data charges may apply).
- Call the automated outage-reporting system for Duke Energy Florida: 800.228.8485
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines, water, non-perishable foods and other supplies that might be hard to find after a storm strikes. Your emergency kit should also include items that can help protect you and others from COVID-19, such as hand sanitizer, bar or liquid soap, and face coverings aligned with CDC guidance.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of storms to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required. When checking on neighbors and friends, be sure to follow social distancing recommendations (staying at least 6 feet from others) and other CDC recommendations to protect yourself and others.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you need to go to a disaster shelter, follow CDC recommendations for staying safe and healthy in a public disaster shelter during the COVID-19 pandemic.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, national weather service and media for changing weather conditions and rising lake and river levels.
- High water conditions can create navigational hazards, and the public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public who have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near water should have this service de-energized to avoid injuries and equipment damage.
- If rising water threatens your home — or if you evacuate your home — turn off your power at the circuit breaker panel or fuse box.
- Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over — and don't stand near — downed power lines.
- Downed lines will be hard to see in the rain and can potentially be hidden in standing water. If you encounter large pools of standing water, stop, back up and choose another path.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make repairs and obtain verification from your local building inspection authority before power can be restored.
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about four hours if it is unopened. If the power will be out for more than four hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Catawba Valley Community College Foundation
- FSIC American Innovation and Opportunity Fund
- Gaston Innovation Group
- Johnson C. Smith University
- MeckEd
- myFutureNC
- Nash Community College
- NC Agricultural and Technical State University
- NC Society of Hispanic Professionals
- North Carolina Central University Foundation
- Piedmont Community College
- Richmond Community College Foundation
- Urban League of Central Carolinas
- USO of North Carolina
- Winston-Salem State University Foundation
- Young Black Leadership Alliance
- St. Petersburg College Foundation – Diversity in Energy Initiative, ($100,000).
- University of South Florida Foundation – Advancing STEM Skills and Environmental Education Across Generations ($75,000).
- Pasco-Hernando State College Foundation – Elevating Engineering Achievement and Career Attainment ($42,000).
- South Florida State College Hardee Campus – Powerline System Simulators: Expanding the Learning Experience ($14,150).
- AmSkills Apprenticeship Foundation – Innovation and Manufacturing Academy ($22,500).
- Citrus County Education Foundation – Foundation for Success projects ($11,000).
- United Way of Citrus County – Powering the Workforce ($9,000).
- Lake-Sumter State College Foundation – Increasing Access to Energy Technology Programs and Careers ($120,000).
- University of Central Florida Foundation – College of Engineering and Computer Science program support ($75,000).
- Valencia College Foundation – Duke Energy Scholarships program ($50,000).
- Hispanic Heritage Scholarship Fund of Metro Orlando – Scholarships and student programing ($20,000).
- The Education Foundation of Osceola County – Career Pipelines ($20,000).
- Foundation for Seminole State College of Florida – Workforce Jumpstart ($10,000).
- Foundation for Seminole County Public Schools – Grants for Great Ideas and STEM learning ($5,000).
- Futures Inc. – ENVIRO STEM ($5,000).
- United Against Poverty – Success Training Employment Program ($5,000).
- Boys & Girls Club of North Central Florida – Synergy ($25,850).
- Consortium of Florida Education Foundation – Increasing the Impact of Florida's Local Education Foundations on Classroom Investments ($27,500).
- Florida Chapter of American Association of Blacks in Energy – Ninth Annual Youth Energy Academy, Second Annual Energy Academy and scholarships ($18,000).
- Easy transport – Mobilization requires just a standard 40-foot shipping container, eliminating the need for oversized or overweight road permits as well as the typical caravan of heavy trucks emitting fossil-fuel exhaust.
- Quick setup – Mobile cranes often require an entire day for setup before work can begin and another day for equipment removal.
- Safety and precision – Engineered to eliminate ground stability issues and operate in wind speeds up to about 40 miles per hour (18 meters per second), the service enables wind turbine repair and replacement up to 100 meters in the air with fewer unexpected delays.
- Reduced risk – One contractor versus many and a smaller construction zone result in a more easily coordinated project that keeps workers safe, while projects are kept on schedule and on budget.
- Environmentally friendly – Powered by a wind turbine's back-feed circuit, the new up-tower crane is fully electrical and produces zero greenhouse emissions as compared to traditional cranes that run on fossil fuels. The reduced project footprint also minimizes damage to local terrain and wildlife.
- The 69-megawatt (MW) Maiden Creek solar facility, located on Didley Dadburn Road in the Catawba County town of Maiden
- The 25-MW Gaston solar facility located on Neal Road in the Gaston County town of Bessemer City
- Building a 9- to 10-megawatt solar plant and 17- to 18-megawatt battery storage facility at the Asheville station, after the retired coal plant is demolished
- Connecting a 9-megawatt lithium-ion battery facility to the company's Rock Hill substation in the city of Asheville
- Constructing a microgrid that includes a 2-megawatt solar plant and a 4-megawatt lithium-ion battery storage facility in Hot Springs
- Federal-funded programs like the Low-Income Home Energy Assistance Program (LIHEAP). Additional funds were added to the program due to the pandemic, and the state is urging utility customers to apply through statewide community action agencies. Click here for details.
- The added convenience for customers to choose an extended payment arrangement that meets their needs on-line, anytime. Click here for more information.
- Resources are available here for small business customers as they are reopening, from financial assistance to billing and payment options to professional guidance to manage their energy usage.
- To make it easier to pay, the company will continue waiving credit and debit card and walk-in payment fees for residential customers for an additional two months once standard billing and payment practices resume. These fees will resume in November.
- Utility bills
- Housing, food and other essentials
- Child and elder care
- Medical expenses and health counseling
- Nonprofits with a history of championing social justice and racial equity work on behalf of Black Americans, as represented in their mission statements and previous bodies of work, are the priority for this program.
- Nonprofits led by people of color (POC), a historically underfunded group across philanthropy, will be given additional consideration in the grant review process.
- Preference will be given to nonprofits not already funded by, or not eligible for, the Duke Energy Foundation's other competitive grant cycles, specifically the K-12 education, workforce and nature grant cycles.
- The nonprofit applicant may be a governmental entity if the organization meets the strategic principles listed above.
- All regions of North Carolina served by Duke Energy Progress or Duke Energy Carolinas are eligible.
- Trainings and policy reform
- Criminal justice reform, including community policing
- Civic engagement for communities of color
- Reducing disparate outcomes for people of color through education and workforce development
- Change air filters regularly. A dirty air filter makes an HVAC system work harder, which uses more energy.
- Set your thermostat at the highest comfortable setting. The smaller the difference between the inside and outside temperatures, the lower your energy bill will be.
- Close blinds, drapes and curtains during the hottest part of the day to keep the sun's rays from heating your house.
- Use a ceiling fan in occupied rooms to supplement your air conditioning, allowing you to turn up the thermostat. Make sure the fans are set to operate in a counterclockwise direction.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors, or prepare meals that don't require cooking.
- Run your dishwasher, washing machine and dryer at night when it's cooler. Run full loads. Consider air drying dishes and clothes to save even more.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Online tools so customers can directly choose an extended payment arrangement that meets their individual needs.
- Customers who need additional assistance can visit the Energy Neighbor Fund webpage to learn how community agencies can help pay energy bills.
- Professional guidance for small business customers to help analyze their energy usage, discuss energy rates and identify solutions to help lower their energy bills as they are reopening.
- To make it easier to pay, the company will continue waiving credit/debit card and walk-in payment fees for residential customers for an additional two months once billing and payment practices resume. These fees will resume in November.
- Utility bills
- Housing, food and other essentials
- Child and elder care
- Medical expenses and health counseling
- A call with pre-recorded voice, often referred to as a robocall, with a caller ID display showing the customer's utility's name.
- A mimicked Interactive Voice Response menu that customers typically hear when they call their utility.
- Threats to disconnect power or natural gas service to a customer's home or business within an hour.
- Immediate payment demands by prepaid debit card.
- And, with many utilities suspending nonpay disconnections during the COVID-19 pandemic, scammers are now promising refund checks if the customer makes a payment and the pending disconnect was an error.
- Hang up the phone, especially if it's a robocall requesting personal information or requesting an immediate payment by prepaid debit card or gift card to avoid disconnection within an hour.
- Call the utility provider by using the phone number provided on the bill or on the company's official website, followed by a call to the police.
- Never purchase a prepaid debit card or gift card to make an immediate payment to avoid a service disconnection or shutoff. Legitimate utility companies do not specify how customers should make a payment, and they always offer a variety of ways to pay a bill, including accepting payments online, by phone, automatic bank draft, mail or in person.
- The impact of the COVID-19 pandemic;
- State, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices;
- The extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate;
- The ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process;
- The costs of decommissioning nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process;
- Costs and effects of legal and administrative proceedings, settlements, investigations and claims;
- Industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of our service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, such as self-generation and distributed generation technologies;
- Federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs;
- Advancements in technology;
- Additional competition in electric and natural gas markets and continued industry consolidation;
- The influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change;
- The ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources;
- The ability to obtain the necessary permits and approvals and to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business;
- Operational interruptions to our natural gas distribution and transmission activities;
- The availability of adequate interstate pipeline transportation capacity and natural gas supply;
- The impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events, such as fires, explosions, pandemic health events or other similar occurrences;
- The inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers;
- The timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets;
- The results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions;
- Credit ratings of the Duke Energy Registrants may be different from what is expected;
- Declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds;
- Construction and development risks associated with the completion of the Duke Energy Registrants' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all;
- Changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants;
- The ability to control operation and maintenance costs;
- The level of creditworthiness of counterparties to transactions;
- The ability to obtain adequate insurance at acceptable costs;
- Employee workforce factors, including the potential inability to attract and retain key personnel;
- The ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent);
- The performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities;
- The effect of accounting pronouncements issued periodically by accounting standard-setting bodies;
- The impact of U.S. tax legislation to our financial condition, results of operations or cash flows and our credit ratings;
- The impacts from potential impairments of goodwill or equity method investment carrying values; and
- The ability to implement our business strategy, including enhancing existing technology systems.
- Online tools so customers can directly choose an extended payment arrangement that best fits their needs
- Simplified processes for accessing Low Income Home Energy Assistance
- Program (LIHEAP) and other funds available through communities' agencies
- A $15,000 grant to the Heartland Career Center in Wabash County to expand the center's educational footprint to become the first adult training facility within a 30-mile radius in the region
- A $19,900 grant to the Community Education Coalition in Bartholomew County to expand work-based learning programs and launch career awareness and outreach strategies to successfully grow the pipeline of skilled workers in the area
- A $25,000 grant to Bona Vista Programs and its pre-employment transition services in Howard County to support individuals with disabilities to successfully learn necessary skills for community employment
- Associated Industries of South Carolina Foundation: In partnership with the S.C. Chamber of Commerce, the funding will help build a mobile skilled-trades workshop that will house simulators and be deployed to schools, career fairs, trade shows and public and private events throughout the state.
- Florence County School District 2: Supports the growth of the engineering pathway curriculum by adding a STEM club for girls in middle school and expanding Project Lead the Way engineering courses in high school.
- Town of Summerton: In partnership with Greenville Technical College, the grant provides funding for the Summerton Hemp House Project, a student-led, green building project that serves as a catalyst for green industry employment and training opportunities using affordable housing and the environment as a context for learning.
- S.C. Independent Colleges and Universities: Provides nine $5,000 scholarships to junior or senior engineering students at qualifying independent colleges and universities in Duke Energy's service areas.
- Francis Marion University: Supports creation of an Engineering Makerspace that will provide a valuable resource giving students the opportunity to be creative while becoming familiar with contemporary design and manufacturing equipment in use in industry.
- The Duette Solar Power Plant will be built on approximately 520 acres in Manatee County, Fla. Once operational, the 74.5-megawatt (MW) facility will consist of approximately 227,000 single-axis tracking solar panels, capable of producing enough electricity to power approximately 23,000 homes at peak production annually. Once completed, the estimated cost will be 42 cents per 1,000 kilowatt-hours (kWh) for a typical residential customer.
- The Charlie Creek Solar Power Plant will be built on 610 acres in Hardee County, Fla. The 74.9-MW facility will consist of approximately 235,000 single-axis tracking solar panels, capable of producing enough electricity to power approximately 23,000 homes at peak production annually. Once completed, the estimated cost will be 39 cents per 1,000 kWh for a typical residential customer.
- The Archer Solar Power Plant will be built on 630 acres in Alachua County, Fla. This 74.9-megawatt (MW) facility will consist of approximately 220,000 single-axis tracking solar panels, capable of producing enough electricity to power approximately 23,000 homes at peak production annually. Once completed, the estimated cost will be 32 cents per 1,000 kWh for a typical residential customer.
- The Columbia Solar Power Plant in Columbia County, Fla., began serving customers on March 17, 2020. The facility is 74.9 MW with 245,000 solar panels.
- The DeBary Solar Power Plant in Volusia County, Fla., began serving customers on May 14, 2020. The facility is 74.5 MW with 300,000 panels.
- Duke Energy crews are using social distancing measures and, when appropriate for certain work, face coverings while working in the field.
- We are reducing or eliminating processes that involve paper transfers among crews and extended physical spacing during activities like job briefings.
- Crew coordination and logistics support are being conducted remotely through a virtual outage response center model.
- Meetings with vendors and others suppliers are underway to understand now the expectations for supporting storm response and the options available.
- Social distancing rules and screening processes will occur at staging sites, crew lodging, catering and support services to help protect crews as well as communities during large-scale outage restorations.
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines, water, non-perishable foods and other supplies that might be hard to find after a storm strikes. Your emergency kit should also include items that can help protect you and others from COVID-19, such as hand sanitizer, bar or liquid soap, and face coverings aligned with CDC guidance.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of storms to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required. When checking on neighbors and friends, be sure to follow social distancing recommendations (staying at least 6 feet from others) and other CDC recommendations to protect yourself and others.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Pet owners should make arrangements to stay at evacuation shelters that accept pets; friends' or family members' homes; or pet-friendly hotels.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you need to go to a disaster shelter, follow CDC recommendations for staying safe and healthy in a public disaster shelter during the COVID-19 pandemic.
- Visit duke-energy.com on a desktop computer or mobile device.
- Use the Duke Energy mobile app – Download the Duke Energy App from a smartphone via Apple Store or Google Play.
- Text OUT to 57801 (standard text and data charges may apply).
- Call the automated outage-reporting system for your utility:
- Duke Energy Carolinas: 800-769-3766
- Duke Energy Progress: 800-419-6356
- Duke Energy Florida: 800.228.8485
- Duke Energy Ohio/Kentucky: 800.543.5599
- Duke Energy Indiana: 800.343.3525
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about 4 hours if it is unopened. If the power will be out for more than 4 hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Good fielded shareholder questions on a range of topics. The company will post responses to questions on its website.
- Shareholders approved one shareholder proposal: "Shareholder proposal regarding elimination of supermajority voting provisions in Duke Energy's Certificate of Incorporation."
- Shareholders rejected three other shareholder proposals.
- Shareholders elected all 13 board of director nominees.
- Avon Education Foundation, Hendricks County – $10,000
- Brownsburg Education Foundation, Hendricks County – $25,000
- Crawford County Community School Corp., Crawford County – $20,000
- East Washington School Corp., Washington County – $12,974
- Fayette County Community Voices, Fayette County – $13,450
- Fayette County School Corp., Fayette County – $12,411
- Foundation of Monroe County Community Schools, Monroe County – $17,600
- Franklin Community Schools, Johnson County – $5,000
- Greater Clark County Schools, Clark County – $15,000
- Hamilton Heights School Corp., Hamilton County – $7,500
- Hamilton Southeastern School Foundation, Hamilton County – $21,039
- Indiana State University, Statewide – $40,000
- Ivy Tech Foundation, Vigo County – $10,000
- Johnson County Early Learning Center, Johnson County – $24,000
- Kokomo School Corp., Howard County – $24,993
- Lafayette School Corp., Tippecanoe County – $10,000
- Milan Community Schools, Ripley County – $7,500
- MSD of Martinsville, Morgan County – $13,715
- North Knox Primary, Knox County – $10,000
- Purdue University, Tippecanoe County – $25,000
- Rose-Hulman Institute of Technology, Vigo County – $12,500
- Salem Community Schools Corp., Washington County – $5,000
- United Way of Howard County, Howard County – $15,000
- Vincennes Community School Corp., Knox County – $15,000
- Wabash County YMCA, Wabash County – $10,000
- Leading the way in energy efficiency: Duke Energy's goals to reduce customer energy consumption and peak demand were both exceeded in 2019. The company has set even more aggressive energy efficiency goals for 2020.
- Investing in renewable energy: Duke Energy plans to double its renewable energy portfolio within five years. In 2019, the company owned, operated and contracted over 8,000 megawatts (MW) of capacity. In the new report, Duke Energy is establishing a goal of 16,000 MW by the end of 2025.
- Focusing on safety: Duke Energy remained one of the electric utility industry's top leaders in safety performance for the fifth year in a row.
- Providing value to customers: The company continues to provide electricity at prices below the national average in all six states it serves while maintaining high reliability.
- Citrus County United Way (Citrus County)
- Heart of Florida United Way (Orange, Osceola and Seminole counties)
- Lake/Sumter County United Way (Lake and Sumter counties)
- Marion County United Way (Marion County)
- Pasco United Way (Pasco County)
- United Way Suncoast (Pinellas County)
- Second Harvest Food Bank (Orange, Osceola, Seminole, Lake, Volusia and Brevard Counties)
- Seniors First Meals on Wheels (Orange County)
- St. Petersburg Free Clinic (Pinellas County)
- United Way of Central Florida (Hardee, Highlands and Polk counties)
- Volusia/Flagler County United Way (Volusia and Flagler counties)
- If you see a downed power line, assume it is energized and stay away. Report downed lines to Duke Energy immediately. Click here for a video demonstration and to read more about safety around power lines.
- Never bring a generator indoors. Generators should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Adhere to stay-at-home orders and help crews avoid distraction by supporting social distancing guidelines as they work. If it is necessary to leave home, customers should move over or slow down if they see utility crews or other first responders working along roads.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Additional information about repair efforts is available on Duke Energy's outage map at duke-energy.com/outages/current-outages.
- If you see a downed power line, assume it is energized and stay away. Report downed lines to Duke Energy immediately. Click here for a video demonstration and to read more about safety around power lines.
- Never bring a generator indoors. Generators should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Adhere to stay-at-home orders and help crews avoid distraction by supporting social distancing guidelines as they work. If it is necessary to leave home, customers should move over or slow down if they see utility crews or other first responders working along roads.
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- A refrigerator can keep food cold for about 4 hours if it is unopened. If the power will be out for more than 4 hours, use coolers to keep refrigerated food cold.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Customers should stay tuned to local news for the latest weather advisories, as well as state and local emergency management officials.
- If you rely on electricity for medical needs, please consider now what actions you will take in the event of an extended power outage. With statewide "stay-at-home" orders in place, you may need to alter your emergency plans.
- If you see a downed power line, always assume it is energized and stay away. Report downed lines to Duke Energy immediately. Click here for a video demonstration and to read more about safety around power lines.
- Never bring a generator indoors. Generators should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Please avoid approaching Duke Energy crews in the field or entering their work zone as they restore power. If you do need to speak with someone, be advised that employees will maintain at least six feet of separation.
- Please adhere to stay-at-home orders and help our crews avoid distraction by supporting social distancing guidelines as they work.
- If it is necessary to leave home, customers should move over or slow down if they see utility crews or other first responders working along roads. It's not only the law, but also helps protect our crews who are working to help restore power to customers.
- Additionally, employees do not travel, climb or work when sustained winds reach 39 miles per hour. When the storm passes and wind speeds drop below 39 miles per hour making it safe for travel, crews will begin damage assessment and repairs.
- Have appliance thermometers in your refrigerator and freezer. The freezer temperature should be at or below 0° F, and the refrigerator should be at or below 40° F.
- Keep refrigerator and freezer doors closed as much as possible to maintain the cold temperature.
- The refrigerator will keep food cold for about 4 hours if it is unopened.
- A full freezer will keep the temperature for approximately 48 hours (24 hours if it is half full) if the door remains closed.
- Have coolers on hand to keep refrigerated food cold if the power will be out for more than 4 hours.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Asheville Museum of Science, Buncombe Co. – $20,000
- Association for the Preservation of the Eno River Valley, Durham & Orange Co. – $15,000
- Boys & Girls Clubs of North Central NC, Granville, Franklin, Halifax & Warren Co. – $20,000
- Boys & Girls Clubs of the Coastal Plain, Greene, Lenoir & Pitt Co. – $15,000
- Chatham Education Foundation, Chatham Co. – $15,000
- Classroom Central, Cabarrus, Gaston, Iredell, Mecklenburg & Union Co. – $15,000
- Digi-Bridge, Mecklenburg Co. – $15,000
- East Durham Children's Initiative, Durham Co. – $15,000
- EducationNC, statewide – $20,000
- Emily Krzyzewski Family Life Center, Durham Co. – $14,500
- FIRST North Carolina, statewide – $80,000
- Freedom School Partners, Mecklenburg Co. – $15,000
- Girl Scouts North Carolina Coastal Pines, Central & Eastern NC – $20,000
- Girl Scouts Hornets' Nest Council, Anson, Cabarrus, Mecklenburg, Rowan, Stanley & Union Co. – $15,000
- Horizons Unlimited, Rowan-Salisbury School District, Rowan Co. – $35,000
- Kaleideum, Triad Region – $15,000
- Marbles Kids Museum, Central and Eastern NC – $20,000
- Masonboro.org, New Hanover Co. – $40,000
- Moore County Literacy Council, Moore Co. – $15,000
- Out Teach, Mecklenburg Co. – $40,000
- Project Scientist, Mecklenburg Co. – $20,000
- Promising Pages, Mecklenburg Co. – $20,000
- Read Charlotte, Mecklenburg Co. – $100,000
- Ready for School, Ready for Life, Guilford Co. – $12,500
- Renaissance West Community Initiative, Mecklenburg Co. – $15,000
- STEM West, Burke, Catawba & McDowell Co. – $10,500
- Teach for America, Charlotte & Triad, Mecklenburg & Guilford Co. – $30,000
- Teach for America, Eastern North Carolina, Eastern NC – $25,000
- The Foundation of Wayne Community College, Wayne Co. – $20,000
- The NC Agricultural Foundation, statewide – $50,000
- The YMCA of the Triangle, Triangle Region – $12,500
- UNC Pembroke Foundation, Robeson Co. – $20,000
- YMCA of Greater Charlotte, Mecklenburg Co. – $15,000
- Duke Energy Carolinas: 1-800-777-9898
- Duke Energy Progress: 1-800-419-6356
- Duke Energy Florida: 1-800-700-8744
- Duke Energy Indiana: 1-800-521-2232
- Duke Energy Ohio/Kentucky: 1-800-543-5599
- Piedmont Natural Gas: 1-800-752-7504
- City of Westfield
- Crawford County Economic Development Corporation
- Grow Wabash County
- Indy Partnership
- Radius Indiana
- Economic Development Corporation of Wayne County
- Stay away from fallen or sagging power lines – and also keep children and pets away from power lines.
- Consider all power lines – as well as trees, limbs or anything in contact with power lines – energized and dangerous.
- Beware of storm debris that might conceal fallen or sagging power lines.
- Report all power line hazards using the following phone numbers:
- 800.769.3766 for Duke Energy Carolinas customers.
- 800.419.6356 for Duke Energy Progress customers.
- Click here for a video demonstration and to read more about safety around power lines.
- The Twin Rivers Solar Power Plant will be built on 460 acres in Hamilton County, Fla. Once operational, the 74.9-megawatt (MW) facility will consist of approximately 235,000 tracking solar panels. The panels track the movement of the sun and are capable of producing enough electricity to power approximately 23,000 homes at peak production.
- The Santa Fe Solar Power Plant will be built on approximately 600 acres in Columbia County, Fla. The 74.9-MW plant will consist of approximately 235,000 tracking solar panels, which will produce enough carbon-free energy to power more than 23,000 average homes at peak production.
- Delivering value to customers – Duke Energy's 7.7 million electric customers continue to benefit from rates below the national average, while also receiving strong reliability.
- Combating climate change – Since 2005, Duke Energy has reduced its carbon emissions by 31%. In September, the company updated its climate strategy with a new goal of net-zero carbon emissions by 2050 and accelerated its 2030 goal, now cutting carbon emissions by at least 50%.
- Responding to storms – In response to Hurricane Dorian, Duke Energy mobilized nearly 8,000 resources in Florida and more than 10,000 resources in the Carolinas and restored more than 95% of the 300,000 outages within 24 hours.
- Investing in renewable energy – Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 7,100 megawatts (MW) of wind, solar and biomass capacity owned or under contract. Duke Energy is on track to meet its goal of owning or having under contract 8,000 MW of wind, solar and biomass capacity by the end of 2020.
- Powering communities – Through its Powerful Communities program, the Duke Energy Foundation annually invests more than $30 million in charitable grants to bolster education, advance the workforce, safeguard nature and strengthen communities. Through the Duke Energy In Action program, employees and retirees annually volunteer more than 100,000 hours and donate millions of dollars to nonprofit organizations.
- Reduce your thermostat to the lowest comfortable setting. If you have a heat pump, maintain a moderate setting or use a programmable thermostat specifically designed for use with heat pumps.
- Leave drapes or blinds open during sunny winter days to allow the sun to warm the house. Close them at night to help insulate your home.
- Have the heating and air conditioning system checked regularly to maintain performance. Duke Energy offers qualified customers rebates to help offset the cost of replacing older HVAC units with more energy-efficient ones.
- Replace standard incandescent bulbs with light-emitting diodes (LED). LEDs are more efficient while giving off the same amount of light.
- Operate ceiling fans in a clockwise direction, which pushes warm air back down into the room.
- Change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Set your water heater's thermostat to 120 degrees to help you reduce your monthly water heating bills.
- Check the number of days in your billing cycle. Most bills are for 30 days, but there are times when the billing cycle is shorter or longer. If there are more days in the bill, your bill total could be higher.
- Look at "average kilowatt-hour" (kWh) use per day. At first glance your bill may look higher, but if your average use is similar to the same time last year or in a month with similar extreme temperatures, it's a normal bill.
- If you have a smart meter, check online to see if a daily usage analysis tool is available. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing your bill.
- Customers without a smart meter can receive high bill alerts when hotter or colder weather may be causing your bill to trend higher than last month. We send these alerts before you receive your bill – so you can take steps to lower your usage before your bill comes.
- Customers can also use the Duke Energy app to access and manage your account, making it easier to stay on top of your energy usage and bills. You can also take advantage of our energy- and money-saving products and services.
- Audubon Florida's Bald Eagle Conservation Program: to protect, research and rehabilitate bald eagles through the Audubon Center for Birds of Prey Eagle Watch Program.
- Bok Tower Gardens' Restoration of Sandhill and Scrub Habitat: to restore critically imperiled habitats in Polk and Lake Counties that are home to federally and state endangered plant species.
- Clearwater Marine Aquarium's 2020 Sea Turtle Rescue, Rehabilitation and Release and Conservation Program: to protect endangered sea turtles and care for injured and sick sea turtles with the goal of returning them to their ocean home.
- Florida Native Plant Society's Conservation and Habitat Restoration for Two Endangered Mint Species: to monitor and restore two of Florida's endangered mints in Marion and Lake counties.
- Florida Wildflower Foundation's Big Bend Roadside Surveys to Discover Wildflower Areas as Pollinator Habitat: to survey roadsides and adjacent easements in Florida's Big Bend region for wildflower habitats that can be economically managed to build insect pollinator habitats and pathways.
- Florida Wildlife Corridor's Ranch to Ridge Expedition: to support the Florida Wildlife Corridor's 2019 Ranch to Ridge Expedition and documentary film to educate and inspire the public to understand, value and help conserve wild Florida.
- Florida Wild Mammal Association's Wildlife Rehabilitation and Education Program: to help fund the wildlife hospital open year-round that provides care to more than 1,000 animals yearly that are sick, orphaned or injured until well enough to release.
- Franklin's Promise Coalition Inc.'s Conservation Corps of the Forgotten and Emerald Coasts: to provide young adults with job training, academic programming, leadership skills and additional support through a strategy of service that conserves, protects and improves the environment, as well as community resilience.
- Inwater Research Group Inc.'s Citrus County Sea Turtles: Sea Turtle Conservation: to highlight the importance of sea turtle habitats near Crystal River and Homosassa, while teaching local students and teachers about this incredible resource.
- Oakland Nature Preserve Inc.'s Upland Preserve Restorations for Gopher Turtles and Other Species: to restore the upland preserve and continue to provide habitat suitable for the endangered gopher tortoise populations and their commensal species.
- Rainbow River Conservation's Rainbow River Wood Duck Box Maintenance and Upgrade Project: to upgrade and maintain 50 wood duck boxes along the Rainbow River in Marion County, which have been 98% productive in hosting baby broods of ducks after 24 years.
- Trout Lake Nature Center's Exploring the Natural World: to provide nature-based programs for students and adults in Lake County and surrounding areas through on-site field experiences.
- University of Florida: Florida Museum of Natural History's Citizen Science: Common Loon Spring Migration Tracking and Education: to train citizen scientists who will survey the migration of Common Loons, vulnerable wintering birds; data to be used to educate the public and understand migratory pathways.
- West Pasco Audubon Society's Bird and Habitat Conservation in Jay B. Starkey Wilderness Park: to conserve bird species and habitat in Jay B. Starkey Wilderness Park by building a bird blind to provide cover for data collection, observation and a non-disruptive encounter with wildlife.
- West Volusia Audubon's Sustainable Landscaping Principles for Homeowner Associations, Builders and Developers: to train homeowner associations, developers and builders on how to utilize sustainable Florida landscaping techniques to reduce the need for fertilizer and irrigation, build a demonstration garden to showcase techniques, develop a sustainable plant guide and conduct follow-up surveys.
- Withlacoochee Aquatic Restoration's Water Quality Study for Restoration Plan Completion: to gather data to complete the design of a restoration plan for the Withlacoochee River, as a final step of a two-year water quality monitoring study
- The thermostat can be the biggest contributor of high winter bills. Select the lowest comfortable setting on your thermostat when you're home and then lower the temperature a degree or two when you leave.
- Change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Inefficient heating can also add to monthly power bills during colder temperatures. Regular service calls from a licensed technician will help to properly maintain your heating and cooling system.
- The ceiling fan is a great way to stay cool in the summer and warm in the winter. Simply set the fans to operate in a clockwise direction, which pushes warm air back down into the room.
- On sunny days, leave your drapes or blinds open to allow the sun's rays to warm the house.
- Wear warm clothing for additional energy savings at home. If you're planning a holiday party this season, consider a holiday sweater theme. That way, you can bump down the thermostat a degree or two while your guests stay warm and toasty.
- Before installing lights, check each set – new and old – for damaged sockets, loose connections and frayed or bare wires. Discard damaged sets or repair them before using.
- Never use more than three standard-sized sets of lights per extension cord.
- Plug exterior lights into ground-fault interruptible (GFI) outlets only. If the home lacks outside GFI outlets, call an electrician to install them.
- Before climbing a ladder, inspect it to ensure it's in good working condition and follow the weight limits specified on the ladder and manufacturer instructions.
- Never use a ladder on or near power lines or poles.
- Reduce your thermostat to the lowest comfortable setting when home, and bump the thermostat down a degree or two when leaving home.
- One of the easiest things customers can do to support heating efficiency is to change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Leave drapes or blinds open during sunny winter days to allow the sun's rays to warm the house, but close them at night to help insulate your home.
- Text "SHARE" to 30296, or visit https://www.duke-energy.com/donatenow
- Mail a check to:
Share the Warmth Fund
The Duke Energy Foundation
PO BOX 35469
CHARLOTTE NC 28254-3429 - Online: Duke Energy paperless billing customers can donate online when scheduling monthly payments by completing the "Customer Contribution" section.
- A caller ID display with the customer's utility's name
- A mimicked interactive voice response menu that customers typically hear when they call their utility
- Threats to disconnect power, water or natural gas service to a customer's home or business within an hour
- Immediate payment demands by prepaid debit card
- Hang up the phone.
- Call the utility provider by using the phone number provided on the bill or on the company's official website, followed by a call to the police.
- Never purchase a prepaid debit card or gift card to avoid service disconnection or shutoff. DO NOT pay over the phone if immediate payment is demanded by a prepaid card to avoid a disconnection. Legitimate utility companies do not specify how customers should make a bill payment, and they always offer a variety of ways to pay a bill, including accepting payments online, by phone, automatic bank draft, mail or in person.
- GoRaleigh – $200,000 to help offset the cost of installing five electric bus-charging stations.
- GoTriangle – $100,000 to help offset the cost of installing two charging stations for two electric buses expected to arrive by the end of the year.
- Duke Energy Progress is retiring the Asheville coal plant and replacing it with a highly efficient natural gas plant that will be in service in late 2019.
- Duke Energy Progress is proposing to shorten the depreciable lives of its two remaining coal-fired power plants as it focuses on cleaner energy sources, including carbon-free nuclear and renewables and highly efficient natural gas.
- The company is responsibly managing coal ash and safely closing ash basins at operating and retired coal plant sites in the Carolinas. Federal and state regulatory compliance costs incurred after August 2017 to safely close ash basins at eight sites in the Carolinas are included in the proposal.
- Duke Energy Progress is working to improve the grid, making it stronger and more resistant to power outages from severe weather and flooding, and better protected against physical and cyber threats.
- The rate request includes costs to rebuild the electric system and restore power after major storms in 2018 and 2019. If Senate Bill 559 becomes law, Duke Energy Progress will seek to securitize these costs through the issuance of bonds, providing savings to customers.
- Self-healing technology is helping to speed restoration by automatically detecting power outages and quickly rerouting power to customers. During Hurricane Florence in 2018, this technology helped to avoid more than 80,000 customer outages.
- Duke Energy Progress has deployed nearly 1 million smart meters, providing customers enhanced usage data and usage alerts, improved outage detection and enabling new programs tailored to help customers make smarter energy choices and save money.
- Today's rate filing, consistent with an earlier request for the Duke Energy Carolinas utility, includes a number of proposals intended to reduce the impact of rising costs on low- and fixed-income customers, including eliminating individual credit and debit card fees for residential customers when paying bills.
- The filing proposes no increase in the monthly basic service charge, which has been the subject of concerns raised by customer advocates worried that increases in this charge posed disproportionate impacts on low- and fixed-income customers.
- The company also requests that the NCUC convene a broad stakeholder workshop to evaluate additional regulatory programs and protections for low-income customers, ranging from voluntary programs to potential new tariffs and other initiatives.
- Duke Energy's proxy statement "includes key graphics that help investors quickly digest information, such as graphics for the board's age, independence and gender. In addition, Duke includes a skills matrix and provides an interactive version of the proxy."
- Duke Energy's 10-K filing "aids the reader by providing a secondary table of contents preceding the financial statements, and uses a two-column page layout."
- Duke Energy's investor web pages "provide easy access to the annual meeting webcast and transcript, and also the company's bylaws."
- "Accessibility – Quickly finding comprehensive information.
- "Accuracy – Obtaining all the regulatory content and additional information that allows for better understanding.
- "Comparability – Presenting information that enables quick comparison among issuers, thanks to strict compliance with regulatory and market standards.
- "Availability – Having access to all information as soon as possible, in appropriate languages, and in all formats (paper, web, etc.) so that no reader is at an advantage or disadvantage."
- Basin excavation is completed at Dan River, Sutton Plant and Riverbend Steam Station.
- Water and ash flows have been stopped to all basins except the Asheville plant, which will retire, and basin water removal is underway at virtually every site across the state.
- Three beneficial reuse units are under construction at Cape Fear, Buck and HF Lee.
- Dan Beard Council, Boy Scouts of America
$10,000 for ecology and conservation programs - Cardinal Land Conservancy
$25,000 for Mouth of the Little Miami River Nature Preserve - Cincinnati Nature Center
$15,000 for Boardwalk and Wetlands Restoration Project - Cincinnati Park Foundation
$10,000 to Burnett Woods invasive species removal - Civic Garden Center of Greater Cincinnati
$9,728 for tree forestation - Clermont County Office of Environmental Quality
$23,450 for studying harmful algal blooms and nitrate sensing - Great Parks Forever
$40,000 for designing water quality improvements for Sharon Lake - Madisonville Community Urban Redevelopment Corporation
$25,000 for the Little Duck Creek Improvement Project Phase II - Metroparks of Butler County
$10,000 for Pollinator Power Place - Mill Creek Alliance Water Quality Education and Monitoring
$10,000 for water quality monitoring and education - Ohio River Foundation
$10,000 for invasive species removal strike force - Three Valley Conservation Trust
$10,000 for Ruder Preserve Restoration - Village of Newtown
$10,000 to help beautify Lake Barber area - Banklick Watershed Council
$25,000 to Brushy Fork Woods and Wetland Preserve - Northern Kentucky University Research Foundation
$10,000 to fund Greater Cincinnati Pollinator Habitat Initiative - Duke Energy Carolinas is proposing to shorten the remaining depreciable lives of several coal-fired power plants as it transitions to cleaner energy sources, including more carbon-free renewables and highly efficient natural gas.
- The company is responsibly managing coal ash and safely closing ash basins at operating and retired coal plant sites in the Carolinas. Federal and state regulatory compliance costs incurred since 2017 to safely close ash basins at seven sites in the Carolinas are included in the proposal.
- The company is building a smart-thinking grid that will support the growth of solar power, battery storage, microgrids and electric vehicles – enabling cleaner energy options across the state.
- Duke Energy is working to improve the grid, making it stronger and more resistant to power outages from severe weather and flooding, and better protected against physical and cyber threats.
- Self-healing technology is helping to speed restoration by automatically detecting power outages and quickly rerouting power to customers. During Hurricane Florence in 2018, this technology helped to avoid more than 80,000 customer outages.
- The rate request includes costs to rebuild the electric system and restore power after major storms in 2018. If Senate Bill 559 (currently under consideration by the N.C. General Assembly) becomes law, Duke Energy will seek to securitize these costs, providing savings to customers.
- Duke Energy Carolinas recently completed its deployment of more than 2 million smart meters, providing customers enhanced usage data and usage alerts, improved outage detection and enabling new programs tailored to help customers make smarter energy choices and save money.
- The company is proposing to eliminate individual credit and debit card fees for residential customers when paying bills.
- Clay County Soil and Water Conservation District – Nature trail, native prairie and pollinator planting (Clay County) $18,000
- Conner Prairie Museum – White River shoreline stabilization and pond analysis (Hamilton County) $25,000
- Conservation Law Center – Lake Monroe water quality monitoring station (Monroe County) $20,000
- Friends of Edwardsport – Edwardsport walking trail (Knox County) $27,500
- Friends of the Kokomo-Howard County Public Library – Butterfly garden (Howard County) $10,000
- Heritage Fund of Bartholomew County – Exhibit Columbus (Bartholomew County) $10,000
- Indiana Natural Resources Foundation – Indiana tree project (Monroe County) $20,000
- Indiana Wildlife Federation, Inc. – Teter retreat and organic farms sustainable trail project (Marion County) $15,000
- Ivy Tech Community College Foundation – Memorial monarch waystation (Clark County) $8,500
- Parke Trails Alliance – Parke Community rail trail (Parke County) $10,000
- The Nature Conservancy – Increasing public access and adding pollinator habitat (Owen County) $27,465
- Tree Lafayette – Arbor Day 2020 (Tippecanoe County) $18,058
- Indiana University Foundation – Indiana Resilience Planning for Action – Greenhouse Gas Reduction (statewide) $30,000
- Collaborate and align with our states and stakeholders as we transform. The steps and timeline for this transition will be unique in each state we serve, and we'll collaborate with regulators, customers and other stakeholders to determine the right path.
- Accelerate our transition to cleaner energy solutions. We're planning to at least double our portfolio of solar, wind and other renewables by 2025. We'll continue deploying low-cost natural gas to speed the transition from coal and maintain reliability. New natural gas infrastructure will be required to fuel this transition and balance renewables. We'll continue expanding energy storage, energy efficiency and electric vehicle infrastructure.
- Continue to operate our existing carbon-free technologies, including nuclear and renewables. Our nuclear fleet's nearly 11,000 megawatts of carbon-free generation in the Carolinas is central to our ability to meet these goals. That's enough energy to serve 7 million homes.
- Modernize our electric grid. The company is investing in a multiyear effort to create a smarter and more resilient grid that can protect against extreme weather and cyber or physical attacks. These grid improvements also support adding more renewables, while avoiding outages and providing customers more control over their energy use.
- Advocate for sound public policy that advances technology and innovation. This includes advanced renewable energy, longer-lasting storage, new nuclear technologies, low- and zero-carbon fuels and effective ways to capture carbon emissions. The company also will support permitting reforms that will enable new technologies to be deployed.
- Since 2005, Duke Energy's carbon dioxide (CO2) emissions decreased by 31%, sulfur dioxide (SO2) emissions decreased by 96% and nitrogen oxides (NOx) emissions decreased by 74%.
- Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 7,100 megawatts of wind, solar and biomass capacity – owned or under contract.
- Electric customers continue to benefit from rates below the national average in all customer classes and all service areas.
- Stay away from fallen or sagging power lines – and keep children and pets away from power lines, as well.
- Consider all power lines – as well as trees, limbs or anything in contact with power lines – energized and dangerous.
- Beware of storm debris that might conceal fallen or sagging power lines.
- Report all power line hazards using the following phone numbers
- 800.769.3766 for Duke Energy Carolinas customers.
- 800.419.6356 for Duke Energy Progress customers.
- If a power line falls on a vehicle you're in, stay in the vehicle. If you MUST get out of the car – due to a fire or other immediate life-threatening situation – try to jump clear of the car and land on both feet. Be sure that no part of your body is touching the vehicle when your feet touch the ground.
- Click here for a video demonstration and to read more about safety around power lines.
- Visiting duke-energy.com on a desktop computer or mobile device.
- Texting OUT to 57801 (standard text and data charges may apply).
- Calling the automated outage-reporting system at 800.769.3766 for Duke Energy Carolinas customers and 800.419.6356 for Duke Energy Progress customers.
- In North Carolina's Triangle area (Raleigh-Durham-Chapel Hill).
- In South Carolina's Pee Dee region (Darlington, Dillon, Florence, Lee, Marion, Marlboro and Williamsburg).
- Along the entire coasts of both North Carolina and South Carolina – extending to communities up to 100 miles inland.
- Customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center, as well as state and local emergency management officials.
- For a hurricane kit checklist and important safety information, visit www.ready.gov.
- Tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety.
- Duke Energy also urges customers to follow instructions and warnings issued by local emergency management officials.
- Stay away from fallen or sagging power lines, and keep children and pets away from power lines as well. Consider all power lines – as well as trees, limbs or anything in contact with power lines – energized and dangerous.
- Report all power line hazards using the following phone numbers:
- 800.769.3766 for Duke Energy Carolinas customers.
- 800.419.6356 for Duke Energy Progress customers.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video demonstration and to read more about safety around power lines.
- In advance of a storm, create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Maintain a supply of water and nonperishable food.
- Keep a portable radio or TV, or a NOAA weather radio, on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, or at pet-friendly hotels or friends' or family members' homes.
- Visiting duke-energy.com on a desktop computer or mobile device.
- Texting OUT to 57801 (standard text and data charges may apply).
- Calling the automated outage-reporting system at 800.769.3766 for Duke Energy Carolinas customers and 800.419.6356 for Duke Energy Progress customers.
- Visiting dukeenergyupdates.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Using the Duke Energy mobile app – Download the Duke Energy App from a smartphone via Apple Store or Google Play
- Calling the automated outage-reporting system at 800.228.8485
- Creating a fee-free payment option for residential customers who wish to pay their monthly utility bills with credit cards, debit cards or electronic checks. Currently, these customers must pay a $1.50 fee at the time of transaction to use any of these payment methods.
- Building a 5.5-megawatt distribution battery storage pilot project in Edgewood, Ky., that will benefit all customers by regulating voltage on the grid. The prospective project will be located on a circuit that will benefit from enhanced reliability given its proximity to a major hospital.
- Establishing an electric vehicle charging pilot program to expand electric vehicle charging infrastructure across Northern Kentucky, provide modest incentives to assist customers when investing in related technologies and help Duke Energy Kentucky study the impacts of electric vehicle charging on the overall electric grid. The program would focus on fast-charge systems, electric transit bus charging, non-road electric equipment like forklifts and airport ground service equipment, and residential and commercial charging stations.
- Expanding LED streetlighting options to provide customers with more choices for fixtures, poles and more.
- Do not attempt to disconnect or work on or around your natural gas meter.
- Do not attempt to relight any of your natural gas appliances. Call Piedmont at 800.752.7504 so we can inspect your meter and your natural gas appliances for possible damage.
- Do not attempt to clear flood debris from your natural gas meter or from any other natural gas appliance, including your water heater.
- Never use outdoor equipment indoors for cooking or heating. This includes natural gas grills, generators, etc.
- If you smell the rotten egg odor of natural gas and suspect a leak, leave the premises immediately, and do not use a cellphone or anything electrical that can cause a spark inside your home.
- Once outside and away from the smell of natural gas, use your cellphone or a neighbor's phone to call Piedmont Natural Gas at 800.752.7504 or dial 911.
- Stay away from fallen or sagging power lines, and keep children and pets away from power lines as well. Consider all power lines – as well as trees, limbs or anything in contact with power lines – energized and dangerous.
- Report all power line hazards using the following phone numbers:
- 800.769.3766 for Duke Energy Carolinas customers.
- 800.419.6356 for Duke Energy Progress customers.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video demonstration and to read more about safety around power lines.
- In advance of a storm, create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Maintain a supply of water and nonperishable food.
- Keep a portable radio or TV, or a NOAA weather radio, on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, or at pet-friendly hotels or friends' or family members' homes.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.769.3766 for Duke Energy Carolinas customers and 800.419.6356 for Duke Energy Progress customers.
- If rising water threatens your home — or if you evacuate your home — turn off your power at the circuit breaker panel or fuse box.
- Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over — and don't stand near — downed power lines.
- Downed lines will be hard to see in the rain and can potentially be hidden in standing water. If you encounter large pools of standing water, stop, back up and choose another path.
- If your home or business is flooded, Duke Energy can't reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make repairs and obtain verification from your local building inspection authority before power can be restored.
- Maintain a supply of water and non-perishable food.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards by calling Duke Energy at 800-228-8485.
- Never bring a generator indoors. Generators should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Visiting duke-energy.com on a desktop computer or mobile device.
- Texting OUT to 57801 (standard text and data charges may apply).
- Using the Duke Energy mobile app – Download the Duke Energy App from a smartphone via Apple Store or Google Play
- Calling the automated outage-reporting system at 800.228.8485
- Stay away from fallen or sagging power lines, and keep children and pets away from power lines as well. Consider all power lines – as well as trees, limbs or anything in contact with power lines – energized and dangerous.
- Report all power line hazards using the following phone numbers:
- 800-769-3766 for Duke Energy Carolinas customers.
800-419-6356 for Duke Energy Progress customers. - If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video demonstration and to read more about safety around power lines.
- In advance of a storm, create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Maintain a supply of water and nonperishable food.
- Keep a portable radio or TV, or a NOAA weather radio, on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, or at pet-friendly hotels or friends' or family members' homes.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized, as well as trees, limbs or anything in contact with lines.
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Maintain a supply of water and nonperishable food.
- Keep a portable radio or TV or a NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, friends' or family members' homes, or pet-friendly hotels. Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Report all power line hazards using the following phone number: 800.228.8485.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Using the Duke Energy mobile app – Download the Duke Energy App from a smartphone via Apple Store or Google Play
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, the National Weather Service and media for changing weather conditions and rising lake and river levels.
- High-water conditions can create navigational hazards, and the public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public that have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near the water should have this service de-energized to avoid injuries and equipment damage.
- Specialized training for first responders for severe weather scenarios.
- Organized planning initiatives for communities to prepare for extreme weather.
- Equipment necessary for severe weather rescues to preserve human life.
- Community storm preparedness training, materials, kits or shelters.
- Emergency communication tools for severe weather scenarios.
- Improved outcomes for low-income communities experiencing extreme weather.
- Chester County: The Steele Property is a 724-acre property in Chester County located on a four-lane divided highway with easy access to two exits on I-77. The site is ideally suited to a wide range of manufacturers with its excellent transportation infrastructure, robust utilities and close proximity to both Charlotte and Columbia, each providing access to a civilian workforce of 1.2 million.
- Florence County: The Dargan Site is located in a business area of Florence. Infrastructure is in place that makes this a great site for the right industry.
- "Duke Energy is a strong ally for the Florence County Economic Development Partnership and assists with economic development efforts in many ways – the Site Readiness Program being one of them," said Florence County Economic Development Director Joe W. King. "Acceptance into the Site Readiness Program helps set Florence County sites apart from others by ensuring due diligence and quality. Duke Energy's national presence combined with its emphasis on economic development makes it feel like an extension of our own team."
- Greenwood County: The Emerald Industrial Site is a 177-acre property in Greenwood County within 25 miles of both I-26 and I-385, with direct immediate access to four-lane highways. Greenwood County boasts a modern and diverse economic base. About 26% of the local workforce is dedicated to manufacturing.
- Lancaster County: The Airport Industrial Site presents a tremendous opportunity for future industrial development. It rates well for size, infrastructure, access and topography. The property is well suited for aerospace companies that would need access to an airport with a 6,000-foot runway but is ideal for a variety of manufacturers.
"Lancaster County looks forward to working with the owners in the industrial development of the property and greatly appreciates Duke Energy for selecting the site for evaluation," said Jamie Gilbert, director at the Lancaster County Department of Economic Development. - Carteret County: The Radio Island site is a 142-acre undeveloped deep-water tract owned by the N.C. Ports Authority. The Radio Island property is part of the Port of Morehead City, and it offers direct access to the Intracoastal Waterway and has unobstructed access to the Atlantic Ocean. The channel depth is authorized to 45 feet, and the site is less than 4 miles from the sea buoy, making it one of the most easily accessible ports on the U.S. East Coast.
- Cumberland County: The Highway 24 site is a 285-acre property near Fayetteville. It is located near the intersection of Highway 24 and I-95. The site is mostly cleared and is ideal for industrial or distribution customers desiring quick interstate access.
- New Hanover County: The Blue Clay Road site is a 120-acre, undeveloped tract owned by New Hanover County. This property is about 4.5 miles from I-40, adjacent to a CSX rail line and in close proximity to the Wilmington International Airport and Port of Wilmington. At full build-out the site could support up to 800,000 square feet. Full infrastructure is expected to be online by July 2020.
- Rockingham County: The 1,600-acre Miller property is fully infrastructured for a large, energy-intensive manufacturer. Large scale power, natural gas, water, sewer and rail are already in place for the right industrial client.
- Rutherford County: Rutherfordton Industrial Park Phase II is an 80-acre business park with the opportunity for an additional 45 acres that can accommodate multiple industrial parcels and a maximum building size of 110,000 square-feet. Located in the town limits of Rutherfordton, it will soon have access to the U.S. Highway 221 Bypass which provides connection to I-26, I-85 and I-40. All properties are currently zoned for manufacturing and industrial use.
- Walmart Stores, multiple locations
Category: Solution Innovations, Enterprise - Cape Fear Community College, Wilmington, N.C.
Category: Storm Restoration - Lake Wales Care Center, Lake Wales, Fla.
Category: Community Excellence - First Quality Tissue, Anderson, S.C.
Category: Economic Development - Bon Secours, St. Petersburg, Fla.
Category: Solution Innovation, Mid-Market - Hunt Southern, Shaw Air Force Base, Sumter, S.C.
Category: Renewable Excellence - College Hill Community Urban Redevelopment Corp.
$40,000 for Mergard Building in College Hill
Duke Energy has awarded multiple Urban Revitalization grants to College Hill Community Urban Redevelopment Corp. since the grant program was launched in 2011. The funds have catalyzed ongoing redevelopment projects along the community's business district on Hamilton Avenue, reducing blight, creating jobs and spurring additional private investments.
This 2019 grant will fund conceptual planning and final designs for the 12,000-square-foot Mergard Building at 6060 Hamilton Ave. Once the redevelopment work is complete in 2022, the building is expected to feature 10,000 square feet of commercial space and about 2,000 square feet for residential use, create 10 new jobs and support 10-15 temporary construction positions.
- Madisonville Community Urban Redevelopment Corp.
$30,000 for bakery and restaurant in Madisonville
The Madisonville Community Urban Redevelopment Corp. will use its Urban Revitalization grant for architectural and engineering work needed to stabilize a historic structure, which will eventually house two new businesses: a bakery and a restaurant.
The building at 6012 Madison Road is a blighted and vacant structure in the heart of the Madisonville business district – near the renovated Metz House, which received an Urban Revitalization grant in 2016. Once renovated, the two businesses at 6012 Madison Road will create 22 jobs in the community. The businesses' owners, one of whom was raised in Madisonville and recently moved back to the community, are committed to hiring local residents for both the bakery and restaurant.
- Walnut Hills Redevelopment Foundation
$15,000 for Durner Building in Walnut Hills
The 12,875-square-foot Durner Building at 2453 Gilbert Ave. in Walnut Hills' historic Peeble's Corner business district stood vacant for decades and fell into significant disrepair. Duke Energy awarded an Urban Revitalization grant to the Durner Building and neighboring Century Theater in 2015 for the first phase of the projects' redevelopment.
The 2019 grant will be used for architectural and engineering work required for the final phase of construction – filling the remaining financing gap to complete the project. When finished, the building will house restaurant/retail space and offices for the Walnut Hills Redevelopment Foundation and MORTAR, which is a nationally recognized group that builds communities by enabling underserved entrepreneurs and businesses to succeed. The developers expect the building to generate 33 permanent jobs once work is complete and the spaces are occupied.
- OTR A.D.O.P.T.
$10,000 for 2151 Colerain Ave. building in West End
OTR A.D.O.P.T., or Advancing Derelict and Obsolete Properties through Transfer, works to match historic buildings in Over-the-Rhine and other historic neighborhoods with individuals who have the ability and commitment to bring them back to life.
The group's vacant and blighted property at 2151 Colerain Ave. in the West End is in dire need of structural work to make it attractive for redevelopment. The Duke Energy Urban Revitalization grant will be put toward employing engineering, architecture and construction professionals to plan and carry out the stabilization work, and market the property to a potential owner who will complete the redevelopment work and recruit tenants for the ground-floor commercial space and four apartments on the upper floors. - Catalytic Development Funding Corp. of Northern Kentucky
$40,000 for former West Side Café building in Newport, Ky.
The 9,300-square-foot building at 438 W. 11th St. in Newport, Ky., was built in 1899 as a railroad hotel to support the city's steel industry and, most recently, was home to West Side Café. The prominent and historic three-story building now stands vacant and is in dire need of extensive renovations to return it to a productive use in Newport's burgeoning West Side neighborhood.
Fedders Construction, a rapidly growing design-build firm that recently moved into the former Green Line Car Barn across the street from the former West Side Café building, is partnering with the Catalytic Fund on this project and to recruit tenants for the redeveloped first-floor restaurant space and office/residential opportunities on the upper floors. The Duke Energy Urban Revitalization grant will be put toward predevelopment soft costs, like architectural and engineering work, that are typically not able to be financed through traditional means. The restaurant space is expected to create roughly 10 new jobs in the neighborhood, while the entire project is likely to support about 10 temporary construction positions.
- Catalytic Development Funding Corp. of Northern Kentucky
$35,000 for 700 Monmouth St. property in Newport, Ky.
Jason Reser, owner of Reser Bicycle Outfitters and Trailhead Coffee, is no stranger to Monmouth Street in Newport, Ky.; he's operated his bike business at 648 Monmouth St. since 2000. And Reser sees an opportunity for additional positive redevelopment in Newport's central business district. That's why he's partnering with the Catalytic Fund to return the 700 Monmouth St. property to its former glory – and create commercial and residential spaces.
The building, built around 1865, has housed a variety of businesses including an ammunition shop and a sewing and vacuum store. The Duke Energy Urban Revitalization grant will be used to restore the building's façade and transform the interior into 1,300 square feet of tenant-ready commercial space and four apartments. Once complete, the building will join past Urban Revitalization grant winners like Carabello Coffee Co. and The Baker's Table in the transformation of Monmouth Street. And it could bring five new jobs to Newport.
- Catalytic Development Funding Corp. of Northern Kentucky
$35,000 for Molly Malone's Annex in Covington, Ky.
Molly Malone's Irish Pub & Restaurant has become a source of pride in Covington, Ky., since opening in 2007. The business owners are now working with the Catalytic Fund to transform an adjacent 6,000-square-foot building into an innovative specialty cocktail tasting lounge and unique event space.
The Duke Energy Urban Revitalization grant will help bring life to the deteriorating structure, which has stood vacant for 12 years. Once construction wraps up in late 2020, the project will join past Urban Revitalization grant winners like Hotel Covington and Braxton Brewing in Covington's ongoing transformation, create six jobs and serve as a focal point of the Roebling Point entertainment district. - Julie Janson, currently executive vice president, external affairs and chief legal officer, will become executive vice president, external affairs and president, Carolinas region. In addition to the external affairs organization, Julie will be responsible for the strategic direction and performance of the company's regulated utilities in North Carolina and South Carolina.
- Kodwo Ghartey-Tagoe, currently Duke Energy's state president in South Carolina, will become executive vice president and chief legal officer. Kodwo will be the primary legal advisor to Duke Energy's board of directors and senior management and lead the Office of the General Counsel, which includes the company's legal, corporate governance, ethics and compliance, and audit functions.
- Brian Savoy, currently senior vice president, business transformation and technology, will become senior vice president, business transformation technology, and chief administrative officer. In addition to leading our business transformation, information and technology organizations, Brian will have responsibility for the administrative services and supply chain organizations.
- Harry Sideris, currently senior vice president and chief distribution officer, will become senior vice president, customer delivery and services. Harry will lead an organization that consolidates the customer delivery, customer experience, customer services and grid solutions organizations under one leader.
- Doug Esamann, currently executive vice president, energy solutions and president, Midwest and Florida regions, will add the company's natural gas business to his responsibilities. With these added responsibilities, Doug will oversee all of the company's natural gas operations in the Carolinas, Ohio, Kentucky and Tennessee.
- Michael Callahan, currently vice president, investor relations, will become Duke Energy's state president in South Carolina.
- Bryan Buckler, currently director of finance for the Carolinas, will become vice president of investor relations.
- Sasha Weintraub, currently senior vice president, chief commercial officer for natural gas, will add operational and regulatory responsibilities and become senior vice president, natural gas business unit.
- Peter Toomey, currently senior vice president of enterprise strategy and planning, will become senior vice president of strategic regulatory initiatives.
- Cari Boyce, currently senior vice president of stakeholder strategy and sustainability, and president of the Duke Energy Foundation, will become senior vice president of enterprise strategy and planning.
- Louis Renjel, currently senior vice president of federal government affairs, will also add stakeholder strategy and sustainability to his responsibilities, becoming senior vice president, federal government and corporate affairs.
- Shawn Heath, currently vice president and chief of staff, will become vice president, chief of staff and president of the Duke Energy Foundation.
- Pinellas County:
- Neighborly Care Network and Florida Dream Center: Prepare-a-thon: Storm Kit Distribution to Seniors and Vulnerable Residents ($25,000)
- Clearwater Jazz Holiday: Leadership and Civility through Jazz After-School Program ($15,000)
- In Touch with Communities Around the World: Art and Leadership Skills at Tyrone Middle School ($10,000)
- Holocaust Museum: Speak Up, Speak Now: Combating Bullying in Underserved Communities ($10,000)
- St. Petersburg Art Alliance: Downtown Art Walk Trolley to Support Arts Access ($10,000)
- Polk County:
- Lake Wales Main Street Redevelopment: Connecting Diverse Communities via Streetscapes ($10,000)
- Highlands County:
- Nu-Hope Elder Care Services: Prepare-a-thon: Storm Kit Distribution to Seniors ($14,000)
- Lake, Orange, Osceola and Seminole Counties
- United Arts of Central Florida: Taking the Arts to Low-Income, Diverse Communities ($50,000)
- Orange, Osceola, Seminole, Volusia, Marion, Lake, Hernando, Citrus, Polk, Pinellas and Pasco
- Prospera: Storm Preparedness Training for Small Hispanic Businesses ($25,000)
- Volusia County:
- African American Museum of the Arts: Spotlight on African American Artists: Visits to Schools and Museum ($10,000)
- Citrus County:
- Citrus County Meals on Wheels: Prepare-a-thon: Storm Kit Distribution to Seniors ($14,000)
- Bay, Franklin, Gulf, Liberty, Wakulla counties:
- City of Mexico Beach: Beach Restoration: Dune Walkovers, Sea Oat and Native Plant Revegetation ($150,000)
- Forgotten Coast Cultural Coalition: Hurricane Michael Art Project: Resiliency through the Arts ($20,000)
- Clover School District: Creates a first-of-its-kind program in the state – a partnership with York Technical College, Clover School District and York District 1 to implement a utility lineworker certification program for high school students.
- S.C. Independent Colleges and Universities: Provides nine $5,000 scholarships to junior or senior engineering students at qualifying independent colleges and universities in Duke Energy's service areas.
- Tri-County Technical College: Supports a marketing program aimed at increasing the number of women, minorities and veterans pursuing engineering and mechatronics degrees.
- Florence-Darlington Technical College: Supports an effort to recruit and retain women and minorities in the field of engineering technology through a mentorship program that pairs students with leaders in the engineering field.
- Mayo River Conservation (p.17) – Acquisition and conservation of up to 618 acres in this corridor as part of the Mayo River State Park on both sides of the state line, protecting a significant aquatic habitat with at least 10 rare and listed aquatic species, and providing greater access and safety for the public to more than 10 miles of the Mayo River for recreation.
- Pigg River Dam Removal (p.19) – Removal of a defunct dam to support recovery of the federally and state-listed Roanoke logperch through aquatic habitat restoration, fish passage, and restoration of aquatic connectivity within the Pigg River ecosystem. The project removed the last impediment to fish passage within a 72-mile reach of the Pigg River from the headwaters down to the Leesville Reservoir.
- Abreu Grogan Park Improvements (p.19) – Closed for four months after the Dan River spill to be used as a staging ground for the Dan River cleanup; improvements increased access to the river and use of the park by a broader population in Danville, Va., as the only access to the 14-mile section of the Dan River designated as a Virginia Scenic River.
- Establishment of Dan River Public Boat Launch Facilities (p.20) – Negotiation on potential properties is ongoing for one motorized boat access location or two non-motorized boat access locations.
- Set your air conditioning to the setting that comfortably meets your lifestyle needs. Hot summer days can mean higher energy bills. The further your thermostat setting is from the temperature outside, the higher your energy bill will be.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors, or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weatherstripping. And keep exterior doors closed as much as you can to keep the cool air inside.
- Eligible homeowners in the Carolinas can get a free home energy assessment, which includes an Energy Efficiency Starter Kit containing LEDs, an energy-efficient showerhead, and switch and outlet energy seals.
- Duke Energy partners with local agencies to help low-income customers who may struggle to pay their energy bills. Please visit the company's website, call 800.452.2777 (Duke Energy Progress) or 800.777.9898 (Duke Energy Carolinas) to learn more about the special assistance programs available to North Carolina and South Carolina customers.
- In addition, financial emergencies may occur from time to time. Duke Energy strongly encourages customers to call to learn about payment arrangements if they receive a disconnection notice and cannot pay their bill before the disconnection date.
- Easterseals Crossroads in Hancock and Shelby counties - $30,000 – Easterseals Crossroads, through its workforce development program, will provide education and training to individuals with disabilities seeking potential careers in the energy industry.
- IU Kokomo in Cass and Whitley counties - $10,000 – The Kokomo Experience and You program provides all undergraduate students with opportunities to participate in learning experiences by immersing them in businesses and nonprofit enterprises.
- Tippecanoe School Corporation in Tippecanoe County - $19,500 – The Greater Lafayette Career Academy's engineering students will gain industry experience through placements with partner organizations and earn college credits through early college and/or dual credit agreements. The engineering curriculum requires students to use advanced hardware and software, which the project will also provide.
- Indiana State University in Vigo County - $12,500 – This grant will help build a vocational training certificate program for North Vigo High School. It will provide hands-on training in electronics and energy to improve job readiness for skilled workers in the community.
- Workforce Network Inc. in Vigo County - $21,347 – The Duke Energy Jobs for America's Graduates (JAG) challenge invites teams from nine high schools to participate in energy sector work-based learning experiences through a STEM summer camp, classroom speakers, field trips and work experiences.
- TechnoKats robotics team in Kokomo - $10,000 – TechnoKats, which inspires and motivates high schoolers to become interested in science and technology, had been housed at the Duke Energy operations office in Kokomo. Due to renovations at the center, the team will need to relocate. This grant will help the robotics team find a new location for building its 2019 robot.
- We have made investments to upgrade and keep up with growth on our system, including the addition of more than 1,400 miles of new power lines.
- Nearly 90% of the power Duke Energy produced in Indiana in 2018 was generated from coal. Duke Energy needs to continue to prepare for the likelihood of future greenhouse gas regulations and has proposed accelerating the retirement dates for some of its Indiana coal-fired power units. It is a moderate plan that staggers generating unit retirements over time and spreads out the customer rate impact.
- Federal rules require changes to the way the company manages coal ash stored at power plant sites. Duke Energy is closing ash basins at its power plants responsibly and in compliance with stricter regulations.
- Trees are a primary cause of power outages, and the cost per mile to trim trees on our system has more than tripled, mostly in the last two years.
- Duke Energy is replacing and upgrading equipment to reduce power outages and modernize the electric grid for the type of information and services consumers have come to expect, such as better communication during power outages. These improvements include line sensors that detect problems, reduce power outages, and limit the number of customers affected when outages do occur.
- Duke Energy has been installing smart meters for its customers across its Indiana service area. Smart meters are read automatically – not manually – so they significantly reduce the need for estimated bills when meters can't be easily accessed, such as in severe weather. They also provide customers the ability to view their previous day's usage and make adjustments before their bill arrives.
- The company is proposing the elimination of convenience charges for residential customers when they use a credit or debit card to make a bill payment.
- Due to factors such as more energy efficient appliances and the success of energy efficiency programs, customer power usage has been declining, but the amount of fixed costs to deliver power continues to rise. Duke Energy is proposing a five-year program for residential and commercial customers that would align the interests of customers and their utility by tying company revenues to the number of customers served instead of the amount of power they use. It removes the incentive for utilities to increase the use of electricity and allows utilities to continue to aggressively support customer energy efficiency programs. A number of electric utilities have moved to this model, and it is often currently used by gas companies.
- The new smart meters enable options such as "time of use" rates, where customers can shift their power usage to times of day when energy costs are lower.
- Field testing was conducted on eight control and eight treatment randomly assigned turbines on a nightly basis between 2017 and 2018.
- The trials showed a 50% reduction in overall bat fatalities during the field testing period.
- The Brazilian free-tailed bat and hoary bat showed the greatest fatality reductions. The hoary bat, a bat species of recent conservation concern, showed a reduction of 78%.
- Workforce development growth via GROW NKY – $50,000
The Growing Regional Outcomes through Workforce for Northern Kentucky (GROW NKY) initiative will apply its $50,000 grant to support comprehensive, holistic workforce development and talent strategy, which is focused on leveraging the community's full complement of assets to grow, attract and retain a globally competitive workforce. Led by the Northern Kentucky Chamber of Commerce in conjunction with a variety of workforce partners, the initiative focuses on ensuring Northern Kentucky can attract future businesses and retain current businesses as a result of a strategic workforce effort. - Power Lineman Academy at Grant Career Center – $50,000
Grant Career Center in Bethel, Ohio, will use its Duke Energy workforce development grant to launch a training program for men and women who aim to become utility line technicians. Through the Power Lineman Academy, individuals will receive hands-on education related to the delivery of electricity to homes and businesses. Training will focus on electrical and construction safety, the erection of power lines, components of power grid equipment, and the general maintenance and operation of the electric grid. - Lineworker certificate at Gateway Community and Technical College – $32,315
The Duke Energy grant will allow Gateway Community and Technical College in Northern Kentucky to create an accelerated utility lineworker certificate program designed to train individuals who desire to become utility lineworkers. The 16-credit-hour program will incorporate the college's energy technology curriculum with expansive training and equipment. Upon completion of the accelerated certificate, students will have an understanding of the skills, knowledge, safe work practices and physical ability required to become line technician apprentices. - Upgraded electrical engineering labs at University of Cincinnati – $25,000
University of Cincinnati's department of electrical engineering and computer science will use its Duke Energy grant to purchase new equipment for the school's electric power and power electronics laboratories. The equipment will allow students to gain hands-on education and experience using state-of-the-art electricity delivery equipment. In addition, the upgraded labs will enable the school to accept 20 additional students per year into its three core electrical engineering and lab courses, support the development and recruitment for a new Master of Engineering in Sustainability degree program, and offer one-day advanced training sessions for current utility workers. - Energy career discovery with NaviGo – $15,000
Students often don't have real experience in their selected career path until they've completed additional training or accepted a position. With the help of NaviGo Scholars, students can explore and investigate career paths while they're still in high school, informing their decisions for the future. Through its partnership with Duke Energy, NaviGo will expose students to career opportunities in the energy industry – and help staff the next generation of careers in the energy industry. - Expand hands-on career experiences via Greater Cincinnati Construction Foundation – $11,000
The Greater Cincinnati Construction Foundation's "Constructing a Pathway Out of Poverty" initiative aims to increase access to and participation in hands-on career experiences for Cincinnati Public Schools students in grades 10 through 12. The Duke Energy workforce development grant will enable the foundation to expand the project-based learning program to additional schools and students, and provide support of school employability initiatives and students' transitions to technical jobs. - New enhanced operator training program for the Northern Kentucky Community Action Commission – $10,000
The Northern Kentucky Community Action Commission's YouthBuild program works with young adults to create a place where they can complete their secondary education, prepare for post-secondary education, and gain valuable life and career skills. While enrolled with the program, participants are encouraged to grow and develop to their full potential and find their true value. YouthBuild will apply its $10,000 grant from Duke Energy to add an enhanced operator certificate training program in cooperation with Gateway Community and Technical College. The program will enable up to 32 participants to earn certification and 14 college credit hours toward an associate's degree in manufacturing engineering technology, electrical technology or industrial maintenance technology. On completing the program, participants will qualify for entry-level manufacturing jobs or paid apprenticeship programs, helping themselves and their families advance toward financial self-sufficiency. - Pre-apprenticeship program at Warren County Educational Service Center – $10,000
A $10,000 Duke Energy grant will enable Warren County Educational Service Center in Ohio, in collaboration with the NaviGo Scholars program, to expand its career exploration opportunities for at-risk students. Participants will engage in innovative programming designed to increase awareness of in-demand jobs via weekly tours of local businesses and career coaching. The goals for the program are for students to increase their knowledge of career opportunities and increase their interest in pursuing careers in high-demand technical fields. - Do not attempt to disconnect or work on or around your natural gas meter.
- Do not attempt to relight any of your natural gas appliances. Call Piedmont at 800.752.7504 so we can inspect your meter and your natural gas appliances for possible damage.
- Do not attempt to clear flood debris from your natural gas meter or from any other natural gas appliance, including your water heater.
- Never use outdoor equipment indoors for cooking or heating. This includes natural gas grills, generators, etc.
- If you smell the rotten egg odor of natural gas and suspect a leak, leave the premises immediately, and do not use a cellphone or anything electrical that can cause a spark inside your home.
- Once outside and away from the smell of natural gas, use your cellphone or a neighbor's phone to call Piedmont Natural Gas at 800.752.7504 or dial 911.
- The 11-megawatt (MW) Trenton lithium-based battery facility will be located 30 miles west of Gainesville in Gilchrist County. The energy storage project will continue to improve power reliability using newer technologies.
- The 5.5-MW Cape San Blas lithium-based battery facility will be located approximately 40 miles southeast of Panama City in Gulf County. The project will provide additional power capacity to meet our customers' increasing demand for energy. This project is an economical alternative to replacing distribution equipment necessary to accommodate local load growth.
- The 5.5-MW Jennings lithium-based battery facility will be located 1.5 miles south of the Florida-Georgia border in Hamilton County. The project will continue to improve power reliability through energy storage as an alternative solution to installing new and more costly distribution equipment.
- May 31, 9:30-11:00 a.m. Tampa Bay area
Duke Energy Distribution Control Center in St. Petersburg
Contact Peveeta Persaud for address: 352-216-0150 - May 31, 10 a.m. - noon Orlando area
1845 S Orange Blossom Trail, Apopka, FL 32703
Contact Ana Gibbs for information: 813-928-7263 - Consider all downed power lines and anything touching them energized and HAZARDOUS. Do not go near them and report the problem to Duke Energy by calling 800.228.8485.
- Report all power line hazards to Duke Energy at 800.228.8485, or contact your local emergency services department or agency.
- Stay away from downed or sagging power lines, and do not touch anything that is on or near a power line (i.e., trees or tree limbs, cars, ladders).
- Keep children and family pets away from areas where lines may have fallen (backyards, fields, school yards, etc.).
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be hazardous for crews making repairs.
- Operate your generator outside. Never operate it inside a building or garage.
- Always follow the manufacturer's instructions to ensure safe and proper operation.
- Always have a licensed electrician install stationary or standby emergency generators.
- To avoid electrocution, plug individual appliances into the generator using heavy-duty, outdoor rated cords with a wire gauge adequate for the appliance load. This is the safest way to use a generator. Duke Energy does not recommend connecting a generator directly to a breaker panel, fuse box or meter box because of the hazard it can create for utility lineworkers.
- Obey all local, state and national electrical and fire codes.
- Store gasoline in approved fuel containers and out of children's reach.
- Keep children away from generators.
- Have a fully charged, properly rated fire extinguisher (i.e., rated for electrical and gas fires) ready at all times.
- Never replenish fuel in a generator when it is running.
- Call an electrician to repair a generator. Never attempt to repair it yourself.
- If rising water threatens your home – or if you evacuate your home – turn off your power at the circuit breaker panel or fuse box.
- Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over – and don't stand near – downed power lines.
- Never replace a fuse or touch a circuit breaker with wet hands or while standing on a wet or damp surface.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain certification from your local building inspection authority before power can be restored. Duke Energy can provide a free, no-obligation referral to a local reputable electrician at 888.999.8856.
- Online at duke-energy.com/outages
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.228.8485
- The caller becomes angry and tells the customer his or her account is past due and service will be disconnected if a large payment isn't made – usually within the hour.
- The caller instructs the customer to purchase a pre-paid debit or credit card – widely available at retail stores – then call him or her back to supposedly make a payment to Duke Energy.
- The scammer asks the customer for the prepaid card's receipt number and PIN number, which grants instant access to the card's funds.
- The customer has received no other notice from Duke Energy that an account is overdue.
- Duke Energy never asks or requires a customer with a delinquent account to purchase a prepaid debit card – or iTunes card -- to avoid disconnection.
- Customers can make payments online, by phone, automatic bank draft, mail or in person at any number of retail outlets.
- Customers with delinquent accounts receive advance disconnection notification with the regular monthly billing – never a single notification one hour before disconnection.
- Customers who suspect or experience fraud, or feel threatened during contact with one of these thieves, should contact local law enforcement authorities and then the Duke Energy Indiana phone number listed on their bill (800.521.2232). Never dial the phone number the scammers provide.
- Good fielded shareholder questions on a range of topics. The company will post responses to all questions on its website.
- Shareholders rejected all four shareholder proposals.
- Shareholders elected all 14 board of director nominees.
- In the six states where Duke Energy has retail electric customers, the company's electric rates were below the national averages, according to data from the Edison Electric Institute.
- Duke Energy relies on a balanced energy mix that includes carbon-free nuclear, lower-cost natural gas, hydroelectric and coal. In 2018, nearly 38 percent of the energy produced by the company was carbon-free.
- Duke Energy owned and purchased renewable energy (wind, solar, biomass and hydroelectric power) was equivalent to roughly 9.3 percent of its generation mix in 2018 – reflecting an 11 percent increase compared to 2017.
- The company's use of coal has dropped more than 50 percent from 2008 to 2018 – from 63 million tons annually to 29 million tons. The use of cleaner-burning and lower-cost natural gas has spurred much of that reduction.
- Duke Energy's carbon dioxide (CO2) emissions remained roughly flat in 2018 – despite producing 2 percent more energy versus the previous year. The company's carbon intensity, the amount of CO2 produced per kilowatt-hour generated, fell 2 percent from the previous year. Overall, the company's carbon emissions have dropped 31 percent since 2005.
- Duke Energy established new goals in the report. One is to reduce water withdrawals by its generation fleet by 1 trillion gallons by 2030 – compared to its 2016 mark of 5.34 trillion gallons.
- Duke Energy is also investing more in energy storage. The company is looking to install more than 400 megawatts (MW) of battery storage over the next 15 years. Today, work is underway at the Bad Creek Hydroelectric Station in South Carolina to increase its pumped storage output by more than 300 MW.
- The state's order requires the most expensive closure method available in the face of scientific and engineering evidence, performed by outside experts, that less expensive and more rapid closure options would continue to fully protect people and the environment.
- NCDEQ issued its one-size-fits-all order without the benefit of corrective action plans required by the N.C. Coal Ash Management Act (CAMA). Required for any closure option – including excavation – corrective action plans are separate, site-specific plans to help restore groundwater around basins to state standards more rapidly than either capping or excavation could achieve on its own; NCDEQ itself requested that Duke Energy deliver the plans in December 2019. By failing to consider whether such corrective action would allow capping to meet CAMA requirements, the state regulator acted erroneously.
- NCDEQ's determination that excavation is "more protective" – a determination made without the benefit of complete closure plans and corrective action plans required by CAMA – is inconsistent with the scientific analysis submitted to the state regulator demonstrating that groundwater quality at the six sites is predicted to be virtually the same under all closure options.
- The order, as currently written, could result in approximately $4 billion to $5 billion in additional and unnecessary costs, potentially create decades of disruptions to local communities, and will increase rather than mitigate environmental harm.
- Customers, property owners and untrained contractors should not prune or cut trees and plants near power lines.
- When planting trees near power lines, be sure to select a low-growing variety in order to minimize impact to the lines.
- Contact Florida 811 prior to digging to locate any underground utilities which are often located in utility easements.
- Metropolitan School District of Martinsville
- North Lawrence Community Schools
- Salem Community Schools Corporation
- Foundation of Monroe County Community Schools
- Community Foundation of Bloomington and Monroe County
- Milan Community Schools
- Zionsville Education Foundation
- Purdue University
- Bauer Family Resources
- Crossroads of America Council, BSA
- Franklin Community Schools
- Plainfield Community Schools
- Avon Education Foundation, Inc.
- United Way of Howard County
- Indiana State University
- Indiana 4-H Foundation
- Rose-Hulman Institute of Technology
- Vincennes Community School Corporation
- Metropolitan School District of North Posey County
- United Way Metro
- Greater Clark County Schools
- Crawford County Community School Corporation
- New Albany / Floyd County Schools
- Silver Creek Primary
- Westfield Washington Schools
- United Way of Central Indiana
- North Vermillion Community Schools
- Ivy Tech Foundation, Inc.
- National Inventors Hall of Fame
- Boone County Economic Development Corporation
- Cass County Economic Development
- Crawford County Economic Development Corporation
- Greater Lafayette Commerce
- Hamilton County Economic Development Corporation
- Hancock County Economic Development Council
- Hendricks County Economic Development Partnership
- Jackson County Industrial Development Corporation
- Morgan County Economic Development Corporation
- Pike County Economic Development Corporation
- Accelerate West Central Indiana
- I-74 Business Corridor Group
- Indiana Technology Corridor
- North Central Indiana Economic Development Partnership
- Radius Indiana / Bloomington Economic Development Corporation
- Southwest Indiana Development Council
- Shelby County Development Corporation
- Grow Wabash County
- Whitley County Economic Development Corporation
- Fostering diversity and inclusion – A 20-year-old network of Employee Resource Groups (ERGs) that work to address the needs of employees, communities and customers. The ERGs represent African Americans, Hispanics, women, people with disabilities, new employees, veterans and the LGBT community. Duke Energy's commitment to diversity and inclusion has received frequent recognition, including the 2018 Secretary of Defense Employer Support Freedom Award, the highest honor the U.S. Department of Defense gives to companies for their outstanding support for employees who serve in the National Guard and Reserve.
- Valuing work-family balance – Duke Energy offers mothers and fathers fully paid parental leave – totaling six weeks – to allow for bonding, bolster work-family balance and help attract and retain highly skilled workers. Duke Energy's other family-focused employee benefits include a $5,000 reimbursement for costs associated with adopting a child, generous vacation time, paid sick leave, and paid time off to care for a sick or injured child, parent or other family member.
- Supporting our communities – Through the Duke Energy In Action program, the company sponsors volunteer projects for employees throughout the year and provides them with 10 paid hours to volunteer for a cause of their choice. Employees can also earn company donations through volunteerism and receive dollar-for-dollar matching donations to the cause of their choice from the Duke Energy Foundation.
- Focusing on safety – In 2018, Duke Energy maintained an industry-leading safety performance, with an employee Total Incident Case Rate (TICR) of 0.43.
- Investing in professional development – Through both formal training and knowledge transfer, the company invests in positioning employees for success. The Duke Energy Leadership Academy offers a variety of learning and development opportunities, including independent studies and facilitated programs to address the needs of each leadership level.
- Adventure Crew
$13,000 for environmental education and empowerment through outdoor adventure
- Boone County School District
$10,000 for student energy teams and STEM clubs
- Cincinnati Children's Hospital Medical Center
$7,500 for Summer Passport to Encourage Reading program
- Cincinnati Early Learning Centers, Inc.
$12,000 to support early literacy and kindergarten readiness
- Cincinnati Museum Center
$10,000 to stimulate interest in STEM and promote learning about energy, the environment and engineering
- Cincinnati Public Schools
$19,738 for July Read and Ride literacy enrichment program
- Contemporary Arts Center
$5,000 for CAC Makerspace sessions for participants to explore engineering, tech, science and art methods
- Covington Partners in Prevention
$5,000 for summer youth program to eliminate learning loss for Covington students
- Down Syndrome Association of Greater Cincinnati
$9,000 for summer tutoring to address summer slide in math and reading
- Imago, Inc.
$14,400 to expand environmental education program to CPS' Academy of World Languages
- iSPACE Inc.
$12,000 to provide hands-on STEM learning opportunities to students from low-income areas
- Literacy Network of Greater Cincinnati
$10,000 to sustain and grow reading programs for economically disadvantaged students
- Miami University
$10,000 for student case study competition focused on critical issues in the energy industry
- Northern Kentucky Education Council Inc.
$15,000 to help struggling young students with the support they need to be successful in reading and math
- Northern Kentucky University Foundation Inc.
$32,000 for teachers to participate in high-quality, classroom-embedded professional development in STEM subjects
- Ohio River Foundation
$10,000 for hands-on programs that allow students to learn about river ecology, pollution and habitat protection
- Partnership for Innovation in Education
$20,000 for immersion learning labs that provide hands-on STEM education and experiences for underserved students
- The Public Library of Cincinnati and Hamilton County
$15,000 for Summer Adventure program to help children prevent summer learning loss
- Teach for America
$10,000 to increase the number of STEM teachers in Greater Cincinnati schools as well as strengthening their impacts on students
- Thomas More University
$14,500 for high school students to attend an immersive weeklong camp that provides hands-on activities in STEM and other topics
- University of Cincinnati Foundation
$10,000 to support gardening and 3D-printing clubs for middle schoolers to explore STEM topics and future careers - The Lake Placid Solar Power Plant will be built on 380 acres in Highlands County. The 45-megawatt (MW) plant will consist of approximately 180,000 tracking solar panels. The solar power plant is expected to be in service in December 2019 and will be owned, operated and maintained by DEF. DEF acquired the development rights to the project from EDF Renewables, and DEF is responsible for all remaining development activities, including construction.
- The Trenton Solar Power Plant will occupy about 580 acres in Gilchrist County. The 74.9-MW plant will consist of approximately 280,000 tracking solar panels, which will produce enough carbon-free energy to power over 23,000 average homes at peak production. It is expected to be in service in December 2019. The solar power plant will be owned, operated and maintained by DEF. DEF acquired the development rights to the project from Southeast Solar & Power LLC, and DEF is responsible for all remaining development activities, including construction.
- The DeBary Solar Power Plant will be built on about 445 acres in Volusia County. The 74.5-MW plant will consist of approximately 300,000 fixed-tilt solar panels, which will produce enough carbon-free energy to power over 20,000 average homes at peak production. It is expected to be in service in March 2020. The solar power plant will be developed, owned, operated and maintained by DEF. DEF developed the project on company-owned land in the city of DeBary.
- The impact to residential customers' rates for the Lake Placid project is estimated to be 22 cents per 1,000 kilowatt-hours (kWh).
- The impact to residential customers' rates for DeBary is estimated to be 33 cents per 1,000 kWh.
- The impact to residential customers' rates for Trenton is estimated to be 37 cents per 1,000 kWh.
- Specialized training for first responders for severe weather scenarios.
- Organized planning initiatives for communities to prepare for extreme weather.
- Equipment necessary for severe weather rescues to preserve human life.
- Community storm preparedness training, materials, kits or shelters.
- Emergency communication tools for severe weather scenarios.
- Improved outcomes for low-income communities experiencing extreme weather.
- Check the number of days in your billing cycle. Most bills are for 30 days, but there are times when the billing cycle is shorter or longer. If there are more days in the bill, it could be higher.
- Look at your electric and/or natural gas usage chart to see how your current month's usage compares to the previous 12 months. Energy usage closely aligns with outside temperatures, so compare your current month's usage to the same time last year or a month with similar temperatures.
- Log in to your free Duke Energy online account to view your hourly and/or daily usage. Identifying spikes throughout the month – by day or even hour – can show what appliances and behaviors are increasing your bill.
- The best way to avoid billing surprises is to track your use. Many Duke Energy electric customers receive free High Bill Alerts and Usage Alerts via email and/or text message when hotter or colder weather may be causing usage and bills to trend higher than last month.
- Use Duke Energy's online calculator to estimate your heating bill and avoid a high energy bill surprise.
- Have your heating system checked regularly to maintain performance.
- Change air filters regularly, as a dirty air filter makes a heating system work harder, which uses more energy.
- Install a programmable thermostat to maximize your energy savings.
- Lower your thermostat to the lowest comfortable setting when at home and down a degree or two when you leave. If you have a heat pump, set the thermostat and leave it. Lowering it may cause the auxiliary heat to turn on, which is inefficient and expensive.
- Leave drapes or blinds open during sunny winter days to allow the sun to warm the house. Close them at night to help insulate your home.
- Replace standard bulbs with light-emitting diodes (LED). LEDs are more efficient than regular bulbs, while giving off the same amount of light.
- Operate ceiling fans in a clockwise direction, which pushes warm air back down into the room.
- Check the number of days in your billing cycle. Most bills are for 30 days, but there are times when the billing cycle is shorter or longer. If there are more days in the bill, it could be higher.
- Look at "average kilowatt-hour" (kWh) use per day. At first glance your bill may look higher, but if your average use is similar to the same time last year or in a month with similar extreme temps, it's a normal bill.
- If you have a smart meter, check online to see if a daily usage analysis tool is available. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing your bill.
- The best way to avoid billing surprises is to track your use. Duke Energy customers who have a smart meter can sign up for a Usage Alert. Similar to data alerts you get from your cellphone company, you can set a budget amount for your monthly energy bill and receive notices when you are approaching your limit.
- Have your heating system checked regularly to maintain performance. Duke Energy offers qualified customers rebates to help offset the cost of replacing older HVAC units with more energy-efficient ones.
- Leave drapes or blinds open during sunny winter days to allow the sun to warm the house. Close them at night to help insulate your home.
- Replace standard bulbs with light-emitting diodes (LED). LEDs are more efficient than regular bulbs, while giving off the same amount of light.
- Reduce your thermostat to the lowest comfortable setting when at home and down a degree or two when leaving home. If you have a heat pump, set the thermostat and leave it. Lowering it may cause the auxiliary heat to turn on, which is inefficient and expensive.
- Operate ceiling fans in a clockwise direction, which pushes warm air back down into the room.
- Change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Helping Hand: https://www.duke-energy.com/community/customer-assistance-programs/helping-hand
- Energy Assistance Program: https://www.duke-energy.com/home/billing/special-assistance/energy-assistance-program
- Duke Energy Indiana -- 800.521.2232
- Delivering value to customers – Duke Energy's 7.6 million electric customers continue to benefit from rates below the national average, while also receiving strong reliability.
- Providing value to shareholders – In 2018, Duke Energy delivered total shareholder return of 7.4 percent, which exceeded both the S&P 500 and the Philadelphia Utility Index.
- Reducing emissions rates – Since 2005, Duke Energy has reduced its carbon dioxide emissions by 31 percent. By 2030, the company plans to reduce carbon dioxide emissions by 40 percent from 2005 levels.
- Investing in renewable energy – Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 6,400 megawatts of wind, solar and biomass capacity – owned or under contract. Duke Energy is on track to meet its goal of owning or having under contract 8,000 megawatts (MW) of wind, solar and biomass capacity by 2020.
- Powering communities – Through its Powerful Communities program, the Duke Energy Foundation annually invests more than $30 million in charitable grants to bolster education, advance the workforce, safeguard nature and strengthen communities. Through the Duke Energy In Action program, employees and retirees annually volunteer more than 100,000 hours and donate millions of dollars to nonprofit organizations.
- Ensure an adequate supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc., as well as the availability of a portable, battery-operated radio, TV or weather radio.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy or local emergency services.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER. It's the law in Indiana and a good practice for all drivers.
- If you use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside; never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may omit carbon monoxide.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system:
- Indiana: 800.343.3525
- Report an outage or view current outages by visiting duke-energy.com/outages
- Duke Energy on Twitter: twitter.com/DukeEnergy
- Duke Energy on Facebook: facebook.com/DukeEnergy
- Ensure an adequate supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc., as well as the availability of a portable, battery-operated radio, TV or weather radio.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy or local emergency services.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER. It's the law in Ohio and Kentucky, and a good practice for all drivers.
- If you use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside; never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may omit carbon monoxide.
- Text OUT to 57801 (standard text and data charges may apply).
- Call the automated outage-reporting system at 800.543.5599.
- Report an outage or view current outages by visiting duke-energy.com/outages.
- Duke Energy on Twitter: twitter.com/DukeEnergy
- Duke Energy on Facebook: facebook.com/DukeEnergy
- North Carolina
- Crisis Assistance Ministry (Mecklenburg County)
- North Carolina Department of Health and Human Services (all other North Carolina counties)
- South Carolina
- South Carolina Office of Economic Opportunity (Anderson, Cherokee, Greenville and Spartanburg counties)
- Tennessee
- Metro Action Commission (Davidson County)
- Mid-Cumberland Community Action Agency (Cheatham, Robertson, Rutherford, Sumner, Trousdale, Williamson and Wilson counties)
- Highland Rim Economic Corporation (Dickson County)
- Call: 800.752.7504
- Email: customerselfservice@duke-energy.com
- Helping Hand: https://www.duke-energy.com/community/customer-assistance-programs/helping-hand
- Energy Assistance Program: https://www.duke-energy.com/home/billing/special-assistance/energy-assistance-program
- Duke Energy Indiana = 800.521.2232
- Duke Energy Ohio
- HeatShare: https://www.duke-energy.com/community/customer-assistance-programs/heatshare
- Home Energy Assistance Program: https://www.duke-energy.com/home/billing/special-assistance/home-energy-assistance-program
- Percentage of Income Plan: https://www.duke-energy.com/home/billing/special-assistance/percentage-of-income
- Duke Energy Kentucky
- WinterCare: https://www.duke-energy.com/community/customer-assistance-programs/wintercare
- Home Energy Assistance Program: https://www.duke-energy.com/home/billing/special-assistance/low-income-home-eap-ky
- Duke Energy Florida
- Energy Neighbor Fund: https://www.duke-energy.com/community/customer-assistance-programs/energy-neighbor-fund
- Bill Extender: https://www.duke-energy.com/home/billing/special-assistance/bill-extender
- Partnership Agencies: https://www.duke-energy.com/community/customer-assistance-programs/energy-neighbor-fund/energy-assistance-resources-fl
- Duke Energy Florida: 800.700.8744
- Duke Energy Carolinas - North Carolina
- Helping Home Fund: https://www.duke-energy.com/home/billing/special-assistance/helping-home-fund
- Share the Warmth: https://www.duke-energy.com/community/customer-assistance-programs/share-the-warmth
- Moratorium: https://www.duke-energy.com/home/billing/special-assistance/moratorium
- Partnership Agencies: https://www.duke-energy.com/home/billing/special-assistance/low-income-programs
- Moratorium: https://www.duke-energy.com/home/billing/special-assistance/moratorium
- Duke Energy Carolinas – South Carolina
- Share the Warmth: https://www.duke-energy.com/community/customer-assistance-programs/share-the-warmth
- Moratorium: https://www.duke-energy.com/home/billing/special-assistance/moratorium
- Partnership Agencies: https://www.duke-energy.com/home/billing/special-assistance/low-income-programs
- Duke Energy Progress – North Carolina
- Energy Neighbor Fund: https://www.duke-energy.com/community/customer-assistance-programs/energy-neighbor-fund
- Preference Pay: https://www.duke-energy.com/home/billing/special-assistance/preference-pay
- Partnership Agencies: https://www.duke-energy.com/community/customer-assistance-programs/energy-neighbor-fund/energy-assistance-resourcesdep
- Moratorium: https://www.duke-energy.com/home/billing/special-assistance/moratorium
- Duke Energy Progress – South Carolina
- Energy Neighbor Fund: https://www.duke-energy.com/community/customer-assistance-programs/energy-neighbor-fund
- Preference Pay: https://www.duke-energy.com/home/billing/special-assistance/preference-pay
- Partnership Agencies: https://www.duke-energy.com/community/customer-assistance-programs/energy-neighbor-fund/energy-assistance-resourcesdep
- Moratorium: https://www.duke-energy.com/home/billing/special-assistance/moratorium
- DEC: https://www.duke-energy.com/home/billing/equal-payment-plan
- DEP: https://www.duke-energy.com/home/billing/equal-payment-plan
- Duke Energy Carolinas (NC and SC) = 800.777.9898
- Duke Energy Progress (NC and SC) = 800.452.2777
- More than 7 million work hours were logged in 2018 by expert teams focused on basin closure, demonstrating the company's commitment to safely managing coal ash.
- Work to prepare basins for closure is underway across the fleet. By early 2019, the company will stop sending ash and wastewater to nearly all basins, well in advance of state and federal requirements. To accomplish this, the company constructed dry bottom ash handling systems, lined water treatment basins and new lined retention basins at a number of operating coal plants.
- Ash has been excavated from seven basins at the Asheville plant (Asheville, N.C.), Rogers Energy Complex (Mooresboro, N.C.), W.S. Lee facility (Belton, S.C.), Cayuga Generating Station (Cayuga, Ind), Gibson Generating Station (Owensville, Ind), and Gallagher Generating Station (New Albany, Ind).
- In the coming months, excavation will be completed at seven additional basins at the Dan River facility (Eden, N.C.), Riverbend Steam Station (Mount Holly, N.C.), Sutton Energy Complex (Wilmington, N.C.) and East Bend Station (Boone Co., KY).
- Approximately 22 million tons of ash have been excavated since basin closure began in recent years, with more than 5 million tons moved in 2018 alone.
- A vital step in closure is to remove the free water from the basins, which will happen at both excavated and capped facilities. That process is underway at many locations and is the most effective step in improving groundwater quality. In addition, the company has begun work to determine additional corrective actions to improve groundwater, and it will monitor groundwater for decades to ensure that the environment remains well protected.
- On Jan. 2, the company will open the window for an additional 20 megawatts of new rooftop solar installations for residential, non-residential and nonprofit customers.
- Per the N.C. Utilities Commission order earlier in the year, the company will also reallocate any 2018 capacity for projects that have not been installed. That means customers who were waitlisted in 2018 with already-installed projects will be allowed to collect any available rebates. Any unconnected customers, or those that connected projects Oct. 3, 2018, or later, are eligible to apply in 2019.
- The proposed location for the new substation will be on the Osprey Energy Center site.
- The new 230-kilovolt (kV) Kathleen Transmission Line will extend from the Osprey Energy Center approximately 26.2 miles west to the existing Kathleen substation.
- The new 230-kV Haines City Transmission Line will extend from the Osprey Energy Center approximately 21.4 miles east to the existing Haines City East substation.
- If you plan to use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside. Never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may emit carbon monoxide (CO). The following are symptoms of CO poisoning:
- Flu-like symptoms
- Headache
- Drowsiness
- Ringing sensation in the ears
- Nausea
- Blurred vision
- Chest pains
- Light-headedness or dizziness
- If you suspect carbon monoxide poisoning, open doors and windows, leave your home / business and consult a physician.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina and South Carolina, and a good practice for all drivers.
- If you plan to use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside. Never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may emit carbon monoxide (CO). The following are symptoms of CO poisoning:
- Flu-like symptoms
- Headache
- Drowsiness
- Ringing sensation in the ears
- Nausea
- Blurred vision
- Chest pains
- Light-headedness or dizziness
- If you suspect carbon monoxide poisoning, open doors and windows, leave your home / business and consult a physician.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina and South Carolina, and a good practice for all drivers.
- If you plan to use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside. Never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may emit carbon monoxide (CO). The following are symptoms of CO poisoning:
- Flu-like symptoms
- Headache
- Drowsiness
- Ringing sensation in the ears
- Nausea
- Blurred vision
- Chest pains
- Light-headedness or dizziness
- If you suspect carbon monoxide poisoning, open doors and windows, leave your home / business and consult a physician.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina and South Carolina, and a good practice for all drivers.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.POWERON for Duke Energy Carolinas customers and 800.419.6356 for Duke Energy Progress customers
- Report an outage or view current outages online at www.dukeenergyupdates.com
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- If you plan to use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside. Never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may emit carbon monoxide (CO). The following are symptoms of CO poisoning:
- Flu-like symptoms
- Headache
- Drowsiness
- Ringing sensation in the ears
- Nausea
- Blurred vision
- Chest pains
- Light-headedness or dizziness
- If you suspect carbon monoxide poisoning, open doors and windows, leave your home / business and consult a physician.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina and South Carolina, and a good practice for all drivers.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.POWERON for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Report an outage or view current outages online at www.dukeenergyupdates.com
- Duke Energy will provide updates on its social media channels to keep customers informed if significant outages occur:
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- If you plan to use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside. Never operate it inside a building or garage.
- Don't use grills or other outdoor appliances or equipment indoors for space heating or cooking, as these devices may omit carbon monoxide.
- Check and restock your emergency kits with flashlights, batteries, bottled water, non-perishable foods, medicines, etc. Also, ensure a portable, battery-operated radio, TV or NOAA radio is on hand.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina and South Carolina, and a good practice for all drivers.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.POWERON for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Report an outage or view current outages online at www.dukeenergyupdates.com
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Duke Energy Center (DEC), 550 South Tryon St.
- 526 South Church Street (sell)
- 401 South College Street (sell)
- 400 South Tryon Street (exit lease)
- 39-floor office tower across from the Duke Energy Center at the 500 block of South Tryon Street.
- Developer: Childress Klein
- Building height: 39 stories
- Employees: Will house approximately 3,600 employees
- Total square footage: 1 million square feet (appx)
- Retail square footage: 25,000 square feet (appx)
- Parking: Seven-level above-ground parking
- We encourage customers to prepare by checking their supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc. Also, ensure a portable, battery-operated radio, TV or NOAA radio is on hand.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina, but a good practice for all drivers.
- If you use a generator due to a power outage, follow the manufacturer's instructions to ensure safe and proper operation. Operate your generator outside. Never operate it inside a building or garage.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.POWERON for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Report an outage or view current outages online at www.dukeenergyupdates.com
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Anderson County Library: To support the Fishing Tackle Loan Program, which in partnership with S.C. Department of Natural Resources teaches library users about local fish habitats and the community's impact on water quality.
- Carolina Waterfowl Rescue: To restore and enhance the habitat of a previous mining site in Marlboro County by providing refuge for protected and endangered wildlife.
- Chesterfield Soil and Water Conservation District: To provide additional habitat for many wildlife species that depend on the longleaf pine ecosystem in Chesterfield County.
- Friends of Paris Mountain State Park: To help with habitat restoration at Lake Buckhorn, originally constructed by the Civilian Conservation Corps in 1939.
- Kalmia Gardens of Coker College: To help restore, promote and protect natural habitats and wildlife by removing non-native plant species.
- Lindsay Pettus Greenway: To develop the Environmental Education Center area with a baseline natural resources inventory, removal of invasive species and restoration of native habitat.
- The Nature Conservancy of South Carolina: To support several priority stewardship projects including trail maintenance, signage updates and habitat enhancement at Nine Times Preserve in Pickens County.
- Newberry Soil and Water Conservation District: To expand habitat management capabilities of U.S. Forest Service lands while continuing to assist private landowners in implementing habitat improvement practices.
- Palmetto Conservation Foundation: To support training of and work by Palmetto Conservation Corps crews to protect and improve about 100 miles of public trails.
- Partners for Active Living: To improve water quality along Spartanburg's Mary Black Foundation Rail Trail with innovative landscape elements designed to remove debris and pollution from surface runoff water.
- South Carolina Aquarium: To support the traveling environmental education outreach program – Rovers – in Marion and Clarendon counties.
- South Carolina Waterfowl Association: To support scholarships to Camp Leopold, a school year natural resource conservation and environmental education camp in Pinewood, S.C., that reconnects students to the land community through the use of hands-on environmental education programs.
- Trees Greenville: To continue the "Energy Saving Trees" program, which gives residents trees and information that will help conserve energy and reduce energy bills through strategic tree planting.
- Trees SC: To support Florence County residents with free trees and education on strategic planting that will help save energy and money.
- Sycamore Land Trust Beanblossom Bottoms nature preserve trail project in Monroe County, $27,500 to make the trail more accessible to visitors with disabilities
- Indiana Forest Alliance in Jackson County, $15,000 to enhance an aquatic salamander habitat in Indian Creek and the Blue River
- Wabash River Enhancement Corporation in Tippecanoe County, $24,077 to purchase supplies for water sampling on the Wabash River
- Blue River Community Foundation in Shelby County, $11,000 to help build two canoe access ramps to the river
- Indiana Natural Resources Foundation in Greene County, $20,000 to help fund interpretive exhibits in the Goose Pond fish and wildlife area
- Jeffersonville Township Public Library in Clark County, $15,000 to help pay for a rain garden landscape project at the library's Clarksville branch
- Indiana Wildlife Federation in Vigo County, $15,000 to help fund ongoing restoration efforts at Lake Le Fer at Saint Mary-of-the-Woods College
- Owen County Soil and Water Conservation District in Owen County, $7,500 for the MYPath ecological restoration project
- Vermillion Trails Alliance in Vermillion County, $5,000 to help fund the Trail Head Park
- Hamilton County Parks and Recreation in Hamilton County, $14,500 toward a mobile environment and nature education trailer
- Have your heating system inspected each year by a qualified professional to ensure it is working properly.
- Upgrade your old furnace to a new high-efficiency model (newer models can be up to 98 percent efficient).
- Install a programmable thermostat to maximize your energy savings.
- Change or clean your furnace filters each month during the heating season.
- Seal leaks around doors and windows with caulk or weather stripping to reduce unwanted drafts.
- Tampa Bay Watch (Pinellas County) $100,000: to support a multi-level habitat restoration program that will be showcased in the new Discovery Center at the St. Petersburg Pier and help construct a living shoreline exhibit. Duke Energy volunteers will restore a coastal habitat, which will be used as part of the "Tampa Bay Story" highlighting the recovery of the Tampa Bay estuary. Funds will also help construct a living shoreline exhibit where children and adults can use a touch-screen platform to build a living shoreline habitat.
- Clearwater Marine Aquarium (Pinellas County) $60,000: to rescue, rehabilitate and release stranded and endangered sea turtles. Information obtained from strandings will be utilized to further understand these animals, including the effects of human interactions.
- National Audubon Society Inc. (statewide) $50,000: to support the Eagle Eyes on the Environment program, which educates individuals on water, energy, habitat conservation and how birds, water and energy are all connected.
- Franklin's Promise Coalition Inc. Conservation Corps of the Forgotten Coast (Franklin County) $33,000: to engage "opportunity youth" (those neither in school nor working, or who are at risk of dropping out of school) to enhance and sustain the Apalachicola River Watershed.
- Bok Tower Gardens (Polk, Orange and Lake counties) $25,000: to expand the restoration of scrub and sandhill habitats adjacent to power line easements within Orange, Polk and Lake counties.
- Oakland Nature Preserve Inc. (Orange County) $25,000: to support environmental camps that educate and develop environmentally responsible citizens and the Blue Hike program, which highlights the importance of central Florida's waterways.
- Clearwater Audubon (Pinellas County) $15,000: to promote interest in environmental education and youth engagement, collect valuable research data using bird banding and protect raptors by providing Osprey nesting areas in conjunction with Duke Energy.
- Save Crystal River (Citrus County) $10,500: to implement and refine curriculum developed last year to provide to all schools in Citrus County and online for any teacher nationwide and create traveling science kits for Citrus County schools.
- Franklin County Emergency Management (Franklin County) $15,000: to purchase sea oats and supplies for Duke Energy and other volunteers to utilize during the sea oat restoration project on St. George's Island.
- Florida Wildlife Corridor (statewide) $9,999: to conduct community outreach and education about the Florida Wildlife Corridor, which is a network of lands and waters throughout the state that supports wildlife and people. The organization combines conservation science with compelling imagery and rich storytelling to heighten the visibility of the corridor and inspire its protection.
- Service technicians always wear the company's blue uniform with the Piedmont logo when making a service call.
- A worker making a service call will arrive in a Piedmont Natural Gas vehicle with the company's name and logo clearly displayed.
- All Piedmont workers are required to carry their company ID badge, which has the Piedmont Natural Gas logo at the top, along with a photo of the employee and the employee's first and last names.
- Technicians will never ask for cash or any other form of payment from customers during a service call to their home or business.
- Workforce – Workforce development programs aligned with the energy industry's future workforce.
- Nature – Programs supporting water quality, quantity, conservation and access, habitat and forest restoration and conservation, and species conservation.
- State Strategic Impact – Priorities defined annually at the state level to respond to the unique needs of the states Duke Energy serves.
- Through the Duke Energy Foundation, the company has provided more than $1.5 million to nine HBCUs to support scholarships, academic programs and other initiatives, with a focus on programs aligned with the energy industry's future workforce needs. For example, the company invested in a five-week bridge program at North Carolina A&T State University to attract and retain high achieving students in engineering and computer science disciplines.
- The company participates in career fairs and information sessions and conducts on-campus interviews at several HBCUs across our service footprint, including North Carolina A&T State University, Florida A&M University and South Carolina State University.
- Duke Energy participates in the North Carolina Governor's HBCU Internship Program and partners with student chapters of the National Association of Black Engineers (NSBE).
- Duke Energy recently participated in the HBCU Diversity in Tech Summit at North Carolina A&T State University.
- Food Finders Food Bank, Inc., in Howard County, $50,000 to provide additional food during the high-need holiday season
- Indiana Chamber of Commerce Foundation, Inc., $50,000 to advance workforce development goals
- Indiana Symphony Society, Inc., $30,000 to support Discovery Concerts, offered to third- through sixth-grade students
- Indiana Special Olympics, Inc., $20,000 to support the Olympic Town summer games for contestants with intellectual disabilities
- Indiana University Southeast, $17,500 to help build nonprofit capacity in Southern Indiana through a professional development conference and on-site consulting
- Heart of Rushville in Rushville, Ind., $16,500 to create a park in memory of Carol Jenkins-Davis, a young woman who lost her life due to a racially motivated crime
- Arts Council of Southern Indiana, $10,000 to help fund creation of Art on Wheels, a mobile van that will travel in Clark, Harrison and Floyd counties, delivering interactive art experiences to children under age 18
- YMCAs of the Wabash Valley, $15,000 to support a youth food delivery program, helping feed approximately 400 school-age children during the two-week winter holiday break
- Arts and Cultural Council, Decatur County, $12,000 for the Rebekah Park amphitheater, providing a permanent location for arts and cultural events
- Sculpture Trails Outdoor Museum, Greene County, $12,000 for a traveling foundry program to support STEAM (Science, Technology, Engineering, Arts and Math) programs
- From Saturday, Oct. 20 through Wednesday, Oct. 24, Duke Energy Customer Care representatives will be available at First Baptist Church in Mexico Beach (823 N. 15th Street, Mexico Beach, FL 32410) to answer questions about suspending or reconnecting electric service and provide other Duke Energy related information.
- For customers' safety, locations impacted by flooding or other damage may require repairs by a licensed electrician and/or inspection by local officials before electric service can be restored.
- Damaged meter boxes are one example. Though Duke Energy owns the actual meter at each customer's home or business, the customer owns the meter box in which the meter is mounted. To prevent a significant safety hazard, Duke Energy will not restore power to a location that is damaged or has a damaged meter box.
- As part of its rebuilding efforts, Duke Energy representatives are identifying locations that need repairs to customer-owned equipment (such as meter boxes) and properties that have been abandoned, condemned, uninhabitable or a total loss. As the company finds these locations, its customer information system is updated to provide the most helpful response to customers who call. Duke Energy is also proactively contacting these affected customers as part of its damage notification process.
- Customers who can receive power after electrical damage repairs and inspections should call Duke Energy at 1-800-754-7730.
- For locations that have been abandoned, condemned or determined to be uninhabitable or a total loss, Duke Energy will remove all compromised electrical facilities and replace with new equipment when the customer is ready to restore service. Customers in this situation, should also call Duke Energy at 1-800-754-7730.
- Customers in these devastated areas lost much more than just power and have more to think about than their energy bills, so the company is offering flexible bill payment arrangements and other programs, giving them one less thing to worry about.
- The company will waive late-payment charges for up to two months for customers who experienced significant property damage. It will also hold bills for certain customers in the hardest-hit counties to enable those customers to focus on more immediate concerns.
- Customers who need assistance or have questions can call Duke Energy at the following numbers:
- Residential customers – 800.700.8744
- Business customers – 877.372.8477
- Residential customers – 800.700.8744
- Business customers – 877.372.8477
- Zone 1 – Taylor, Madison, Hamilton, Suwannee, Lafayette, Dixie and Gilchrist counties: Power has been restored to all customers whose properties can receive power.
- Zone 2 – Jefferson and Leon counties: Power has been restored to all customers whose properties can receive power.
- Zone 3A – Wakulla County: Power has been restored to all customers whose properties can receive power.
- Zone 3B – Franklin County communities of Carrabelle, Lanark Village, Panacea and Alligator Point: Power has been restored to all customers whose properties can receive power.
- Zone 3C – Franklin County communities of St. George Island, Eastpoint and Apalachicola: The majority of customers whose properties can receive power will have service restored no later than 11:59 p.m., Wednesday, Oct. 17. Visit https://www.duke-energy.com/outages for details.
- Zone 4 – Communities in this zone are located where the center of the hurricane made landfall, causing massive destruction. The majority of Gulf County customers whose properties can receive power, except for those in St. Joe Beach, can expect to have service restored by 11:59 p.m., Thursday, Oct. 18.
- Estimated power restoration times apply to customers whose homes and businesses did not experience flooding or other damage that might prevent electric service restoration – due to safety reasons.
- Locations impacted by flooding or other damage might require repairs by a licensed electrician and/or inspection by local officials before electric service can be restored.
- Damaged meter boxes are one example. Though Duke Energy owns the actual meter at each customer's home or business, the customer owns the meter box in which the meter is mounted. The company cannot restore power to a location whose meter box is damaged, for safety reasons.
- For storm or power restoration updates, visit https://www.dukeenergyupdates.com/michael/florida – or follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
- Latest damage photos – https://news.duke-energy.com/multimedia-gallery/photos/hurricane-michael-florida
- Residential EV Charging Program
This program will provide a rebate and ongoing quarterly participation payments for up to 400 residential customers installing qualifying Level II charging equipment in exchange for utility management of home charging during defined hours. A Level II EVSE allows customers to charge their EVs up to six times faster than a standard 120 volt wall outlet. - EV School Bus Charging Station Program
This program is designed to facilitate the replacement of older diesel school buses with modern, clean, zero-emission electric school buses, reducing operating costs and eliminating harmful diesel emissions from the daily commutes of school children in South Carolina. Duke Energy will provide financial support for the purchase of about 30 electric school buses. In addition to studying the charging characteristics and usage patterns of electric school buses, this program will test bidirectional power flow abilities of electric school buses and the potential to use their batteries during times of high electric demand or during disaster recovery. - EV Transit Bus Charging Station Program
Duke Energy will provide financial support to eligible transit agency customers electing to procure electric transit buses for up to 30 electric transit bus charging stations. Electric transit buses also eliminate diesel emissions and reduce fuel and maintenance costs for transit agencies. - DC Fast Charging Station Program
Duke Energy will install, own and operate up to 30 DC Fast Charging ("DCFC") installations across its South Carolina territory to provide a foundational level of infrastructure and facilitate EV market growth. - Latest outage numbers can be found here. Information about how to report a power outage also can be found at that link.
- For the latest storm and power restoration updates, visit https://www.dukeenergyupdates.com/michael/carolinas – or follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
- Duke Energy urges all customers to check on neighbors who have special needs and might require extra assistance due to a power outage.
- Stay away from power lines that have fallen or are sagging.
- Consider all power lines – as well as trees, limbs and anything else in contact with power lines – energized and dangerous.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video about power line safety.
- Wakulla County: The majority of customers that can receive power will have their service restored no later than 11:59 p.m., Sunday, Oct. 14. Individual power restoration times will be updated as they become available. Visit https://www.duke-energy.com/outages for details.
- Franklin County communities of Carabelle, Lanark Village and Panacea: The majority of customers that can receive power will have their service restored no later than 11:59 p.m., Monday, Oct. 15. Individual power restoration times will be updated as they become available. Visit https://www.duke-energy.com/outages for details.
- Franklin County communities of Dog Island, St. George Island, Eastpoint, Apalachicola and Alligator Point: Estimated power restoration times for these areas will be available today at no later than 6 p.m.
- In all counties, estimated times indicate when power will be restored to the majority of customers whose properties did not experience damage or flooding that would prevent electrical service restoration. Many customers will be restored sooner.
- Power restoration times in isolated areas might be extended, depending on damage severity.
- Damaged or flooded properties first might require repairs by a licensed electrician and/or an electrical inspection by local officials before electric service can be restored. This includes properties whose electric meter boxes were damaged.
- For storm or power restoration updates, visit https://www.dukeenergyupdates.com/michael/florida – or follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
- Latest damage photos – https://news.duke-energy.com/multimedia-gallery/photos/hurricane-michael-florida
- Stay away from power lines that have fallen or are sagging.
- Consider all power lines – as well as trees, limbs and anything else in contact with power lines – energized and dangerous.
- Report power line hazards by calling 800.228.8485.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video about power line safety.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, the National Weather Service and local media for information about changing weather conditions and rising lake and river levels.
- High water conditions can create navigational hazards. The public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public who have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near water, should have this service de-energized to avoid injuries and equipment damage.
- Wakulla County: The majority of customers that can receive power will have their service restored no later than 11:59 p.m., Sunday, Oct. 14. Individual power restoration times will be updated as they become available. Visit https://www.duke-energy.com/outages for details.
- Franklin County communities of Carabelle, Lanark Village and Panacea: The majority of customers that can receive power will have their service restored no later than 11:59 p.m., Monday, Oct. 15. Individual power restoration times will be updated as they become available. Visit https://www.duke-energy.com/outages for details.
- Franklin County communities of Dog Island, St. George Island, Eastpoint, Apalachicola
and Alligator Point: Estimated power restoration times for these areas will be available on Saturday, Oct. 13 at 6 p.m. - In all counties, estimated times indicate when power will be restored to the majority of customers whose properties did not experience damage or flooding that would prevent electrical service restoration. Many customers will be restored sooner.
- Power restoration times in isolated areas might be extended, depending on damage severity.
- Damaged or flooded properties first might require repairs by a licensed electrician and/or an electrical inspection by local officials before electric service can be restored. This includes properties whose electric meter boxes were damaged.
- An estimated total of 31,000 Duke Energy Florida customers lost power due to the hurricane. Latest outage numbers can be found here.
- For storm or power restoration updates, visit
https://www.dukeenergyupdates.com/michael/florida – or follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy). - Latest damage photos – https://news.duke-energy.com/multimedia-gallery/photos/hurricane-michael-florida
- Visit duke-energy.com on a desktop computer or mobile device.
- Text OUT to 57801 (standard text and data charges may apply).
- Stay away from power lines that have fallen or are sagging.
- Consider all power lines – as well as trees, limbs and anything else in contact with power lines – energized and dangerous.
- Report power line hazards by calling 800.228.8485.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video about power line safety.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, the National Weather Service and local media for information about changing weather conditions and rising lake and river levels.
- High water conditions can create navigational hazards. The public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public who have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near water, should have this service de-energized to avoid injuries and equipment damage.
- Duke Energy crews have repaired 750,000 power outages in the Carolinas so far.
- 287,000 customers – almost all of them in North Carolina – remain without power, as of 5 p.m. ET.
- Latest outage numbers can be found here. Information about how to report a power outage also can be found at that link.
- More than 9,000 workers – including power line technicians, damage assessors and tree specialists – are responding to the storm's impact in the Carolinas.
- For the latest storm and power restoration updates, visit https://www.dukeenergyupdates.com/michael/carolinas – or follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
- Duke Energy urges all customers to check on neighbors who have special needs and might require extra assistance due to a power outage.
- Stay away from power lines that have fallen or are sagging.
- Consider all power lines – as well as trees, limbs and anything else in contact with power lines – energized and dangerous.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video about power line safety.
- 490,000 customers remain without power in the Carolinas as of 6:30 p.m. ET.
- Additional outages are expected as the storm continues to roll through eastern North Carolina tonight.
- The company will provide estimated power restoration times once field crews complete damage assessments, which could take up to 24 hours.
- Some outages could take several days to repair.
- Latest outage numbers can be found here.
- 6,000 workers – including power line technicians, damage assessors and tree specialists – are responding to the storm's impact in the Carolinas.
- Additional repair crews from Florida and the Midwest are traveling to the Carolinas to assist.
- For the latest storm or power restoration updates, visit https://www.dukeenergyupdates.com/michael/carolinas – or follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
- Stay away from power lines that have fallen or are sagging.
- Consider all power lines – as well as trees, limbs and anything else in contact with power lines – energized and dangerous.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video about power line safety.
- People who live along lakes and rivers, and in other areas prone to flooding, should pay close attention to state and local emergency management officials, the National Weather Service and local media for information about rising river and lake levels.
- Duke Energy is adjusting operations at its hydro-electric power plants, located on rivers and lakes, to accommodate additional water flow from recent rainfall.
- Visiting duke-energy.com on a desktop computer or mobile device.
- Texting OUT to 57801 (standard text and data charges may apply).
- Calling the automated outage-reporting system at 800.228.8485.
- Stay away from power lines that have fallen or are sagging.
- Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards by calling 800.228.8485.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Click here for a video about power line safety.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, national weather service and media for changing weather conditions and rising lake and river levels.
- High water conditions can create navigational hazards and the public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public who have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near water, should have this service de-energized to avoid injuries and equipment damage.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Maintain a supply of water and non-perishable food.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, friends' or family members' homes, or pet-friendly hotels. Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Report all power line hazards using the following phone number 800.228.8485.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Visiting duke-energy.com on a desktop computer or mobile device.
- Texting OUT to 57801 (standard text and data charges may apply).
- Calling the automated outage-reporting system at 800.228.8485.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, national weather service and media for changing weather conditions and rising lake and river levels.
- High water conditions can create navigational hazards and the public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public who have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near water, should have this service de-energized to avoid injuries and equipment damage.
- Since 2005, Duke Energy's carbon dioxide (CO2) emissions decreased by 31 percent, sulfur dioxide (SO2) emissions decreased by 96 percent and nitrogen oxides (NOx) emissions decreased by 75 percent.
- By 2030, the company plans to reduce CO2 emissions 40 percent from 2005 levels.
- Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 6,400 megawatts of wind, solar and biomass capacity – owned or under contract.
- The company is teaming up with customers to reduce customer energy consumption by 15,000 gigawatt-hours by 2020, which is equivalent to the annual usage of 1.25 million homes.
- Electric customers continue to benefit from rates below the national average in all customer classes and all service areas.
- The company met its goal to recycle 80 percent of its solid waste a year earlier than planned.
- United Arts of Central Florida, Diversity Initiative for Lake, Orange, Osceola and Seminole Counties: $60,000
- Prospera – Hispanic Business Council, Florida Programming: $50,000
- Florida Holocaust Museum, Annual Education Programs: $23,499
- Forgotten Coast Cultural Coalition, Forgotten Coast en Plein Air Events: $20,000
- Marion Cultural Alliance, The Silver Springs Story: $15,000
- Ruth Eckerd Hall, Artist Residencies: Performing Arts Education and Outreach: $15,000
- Florida Orchestra, Youth Education Programs: $15,000
- Dr. Carter G. Woodson African American History Museum, Preserving Jordan Park's Legacy: $10,000
- Lake Wales Main Street, Downtown Development Strategy Design Plan: $10,000
- Boy Scouts of America
$10,000 for ecology and conservation programs - Cardinal Land Conservancy
$25,000 for Rinsky Woods Nature Preserve - Children Inc.
$10,000 for Service Learning Program - Cincinnati Parks Foundation
$10,000 for increasing Cincinnati's tree canopy - Cincy Red Bike
$25,000 to expand bike share system - Civic Garden Center of Greater Cincinnati
$10,000 for community garden hubs - East Row Garden Club
$10,000 for Newport Tree Revitalize program - Foundation for Ohio River Education
$20,000 for river and urban stream research and education - Green Umbrella
$14,600 for green infrastructure at schools - Lincoln Heights Comprehensive Development Corp.
$20,000 for a green, sustainable and resilient eco district - Madisonville Community Urban Redevelopment Corporation
$25,000 for Little Duck Creek Trail improvement project - Miami University
$15,000 for student energy case competition - Mill Creek Alliance
$15,000 for environmental education and service programs - Thomas More College
$20,000 for water quality research - University of Cincinnati Foundation
$25,000 for research training program for teachers - Cincinnati Zoo & Botanical Garden
$22,000 for pollinator-friendly habitats - The company has agreed not to bill customers $30 million of operating costs deferred since the plant's in-service date.
- Customer bills will decrease approximately 0.5% and will not be adjusted for Edwardsport plant costs until the time of a decision in the company's next base rate case.
- The agreement also designates $1.7 million out of shareholder funds for low-income energy assistance and renewable energy development.
- Do not attempt to disconnect or work on or around your natural gas meter.
- Do not attempt to relight any of your natural gas appliances. Call Piedmont at 800.752.7504 so we can inspect your meter and your natural gas appliances for possible damage.
- Do not attempt to clear flood debris from your natural gas meter or from any other natural gas appliance, including your water heater. Call Piedmont for an assessment.
- Never use outdoor equipment indoors for cooking or heating. This includes natural gas grills, generators, etc.
- Natural gas appliances damaged by water may need to be replaced according to manufacturer guidelines and instructions.
- When choosing a contractor for repair or replacement of your natural gas appliances, make sure the contractor is licensed, is committed to safety and follows all manufacturer safety guidelines.
- You can choose to work with Piedmont Natural Gas, one of our approved Gas Advantage Dealers, or any other licensed contractor to repair or replace damaged appliances.
- View a list of Piedmont's Gas Advantage Dealers. (www.piedmontng.com/about/partners/findcontractordealer/home.aspx)
- Note that unauthorized repairs can be unsafe and may void your warranty according to manufacturer guidelines.
- Call your appliance manufacturer if you are unsure that the work being performed is an approved repair.
- Leave the premises immediately.
- Call Piedmont Natural Gas at 800.752.7504 or dial 911.
- Call from a neighbor's house or from another location far from the smell of natural gas.
- DO NOT use anything electrical that may create a spark; this includes cellphones.
- DO NOT operate any light switches.
- DO NOT light a match.
- DO NOT attempt to locate the source of the leak.
- DO NOT attempt to stop the leak.
- DO NOT return to the area until Piedmont Natural Gas or the emergency services have declared the area safe.
- DO NOT attempt to operate pipeline valves yourself. You may inadvertently cause danger or additional damage.
- DO NOT attempt to extinguish a natural gas fire.
- If you see or suspect damage to natural gas lines or facilities due to uprooted trees or wind-related damage, call Piedmont Natural Gas at 800.752.7504 or call 911.
- Call Piedmont to report natural gas lines that have been uncovered due to flood conditions.
- Call 811 to have your natural gas lines located and marked (for free) before you remove uprooted trees, rebuild storm-damaged structures or dig anywhere on your property.
- Visit www.dukeenergyupdates.com
- Texting "OUT" to 57801 (standard text and data charges may apply).
- Call the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers; 800-419-6356 for Duke Energy Progress customers.
- For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
- Stay away from fallen and sagging power lines. Keep children, pets and others away from power lines.
- Consider all power lines – as well as trees, branches and anything else in contact with power lines – energized and dangerous.
- Use extreme caution when traversing damaged and flooded areas. Energized power lines could be hidden by debris and flood waters.
- The Duke Energy hydro operations team continues to aggressively move water through its river systems to reduce impacts as much as possible. Please stay alert to changing conditions, as significant rainfall will lead to even higher lake levels.
- High water conditions can create navigational hazards. Please use caution and adhere to the advice of local emergency management officials before going on area lakes and rivers.
- For updated lake level information, go to duke-energy.com/community/lakes or call Duke Energy's lake neighbor information phone line at 800-829-Lake (5253) (Duke Energy Carolinas lakes) and 800.899.4435 (Duke Energy Progress lakes).
- Never use a generator indoors. Always follow manufacturer instructions.
- Keep at least one battery-powered flashlight where it can be located easily in the dark.
- Listen for storm information on a battery-powered radio
- Keep an extra supply of fresh batteries.
- Never use outdoor grills in the house.
- Storm updates and videos from Duke Energy can be found at
www.dukeenergyupdates.com - Stay away from fallen and sagging power lines. Keep children, pets and others away from power lines.
- Consider all power lines – as well as trees, branches and anything else in contact with power lines – energized and dangerous.
- Use extreme caution when traversing damaged and flooded areas. Energized power lines could be hidden by debris and flood waters.
- The Duke Energy hydro operations team continues to aggressively move water through its river systems to reduce impacts as much as possible. Please stay alert to changing conditions, as significant rainfall will lead to even higher lake levels.
- High water conditions can create navigational hazards. Please use caution and adhere to the advice of local emergency management officials before going on area lakes and rivers.
- For updated lake level information, go to duke-energy.com/community/lakes or call Duke Energy's lake neighbor information phone line at 800-829-Lake (5253) (Duke Energy Carolinas lakes) and 800.899.4435 (Duke Energy Progress lakes).
- Never use a generator indoors. Always follow manufacturer instructions.
- Keep at least one battery-powered flashlight where it can be located easily in the dark.
- Listen for storm information on a battery-powered radio
- Keep an extra supply of fresh batteries.
- Never use outdoor grills in the house.
- Storm updates and videos from Duke Energy can be found at www.dukeenergyupdates.com
- Stay away from fallen and sagging power lines. Keep children, pets and others away from power lines.
- Consider all power lines – as well as trees, branches and anything else in contact with power lines – energized and dangerous.
- Use extreme caution when traversing damaged and flooded areas. Energized power lines could be hidden by debris and flood waters.
- People who live along lakes and rivers, and in other low-lying or flood-prone areas, should pay close attention to local emergency management officials, the National Weather Service and local media for changing weather conditions and rising water levels.
- Updated lake levels are available at duke-energy.com//lakes and by calling 800.829.5253 (Duke Energy Carolinas lakes) or 800.899.4435 (Duke Energy Progress lakes).
- Never use a generator indoors. Always follow manufacturer instructions.
- Keep at least one battery-powered flashlight where it can be located easily in the dark. Listen for storm information on a battery-powered radio. Keep an extra supply of fresh batteries. Never use outdoor grills in the house.
- Based on the hurricane's latest track and the overall forecast, Duke Energy's modeling continues to project between 1 million and 3 million power outages across the Carolinas.
- Duke Energy urges everyone to take the storm seriously. Extensive initial damage – paired with ongoing high-winds and flooding – is expected.
- All Duke Energy customers in the Carolinas could see impacts from the storm and should be making final plans and preparations for their homes and families.
- Duke Energy urges its customers and all members of the public to follow warnings and guidance from local, state and federal officials.
- Power restoration could take weeks – not days – as Hurricane Florence is forecasted to be a historic weather event in terms of size and duration.
- Duke Energy asks its customers for their patience ahead of what will be a lengthy period of power restoration and recovery from this major storm.
- Duke Energy has been taking steps to prepare its ash basins and cooling pond sites for Hurricane Florence.
- Each site has a storm preparation checklist to ensure it is as well prepared as possible.
- Duke Energy's Brunswick nuclear power plant, four miles inland in Southport, N.C., is in the path of Hurricane Florence.
- Per plant procedures, operators today have been safely and systematically shutting down the plant's two units prior to the hurricane making landfall.
- Staff at Duke Energy's other Carolinas nuclear power plants have initiated storm procedures and preparations, and continue to monitor the storm's status.
- People who live along lakes and rivers – and in other low-lying areas, or areas prone to flooding – should pay close attention to local emergency management officials, the National Weather Service and local media for changing weather conditions and rising lake and river levels, and be prepared to take appropriate action.
- Report and view power outages at www.duke-energy.com/outages
- Specific power outages need to be reported to Duke Energy only once.
- Stay away from fallen and sagging power lines – both on dry ground and in water.
- Keep children and pets away from fallen and sagging power lines.
- Consider all fallen and sagging power lines energized and dangerous – as well as trees, branches and anything else in contact with power lines.
- For Duke Energy's latest information and updates on Hurricane Florence, visit www.dukeenergyupdates.com.
- Do not attempt to disconnect or work on or around your natural gas meter.
- Do not attempt to relight any of your natural gas appliances. Call Piedmont at 800.752.7504 so we can inspect your meter and your natural gas appliances for possible damage.
- Do not attempt to clear flood debris from your natural gas meter or from any other natural gas appliance, including your water heater. Call Piedmont for an assessment.
- Never use outdoor equipment indoors for cooking or heating. This includes natural gas grills, generators, etc.
- Natural gas appliances damaged by water may need to be replaced according to manufacturer guidelines and instructions.
- When choosing a contractor for repair or replacement of your natural gas appliances, make sure the contractor is licensed, committed to safety and follows all manufacturer safety guidelines.
- You can choose to work with Piedmont Natural Gas, one of our approved Gas Advantage Dealers, or any other licensed contractor to repair or replace damaged appliances.
- View a list of Piedmont's Gas Advantage Dealers.
- Note that unauthorized repairs can be unsafe and may void your warranty according to manufacturer guidelines.
- Call your appliance manufacturer if you are unsure that the work being performed is an approved repair.
- Leave the premises immediately.
- Call Piedmont Natural Gas at 800.752.7504 or dial 911.
- Call from a neighbor's house or from another location far from the smell of natural gas.
- DO NOT use anything electrical that may create a spark; this includes cellphones.
- DO NOT operate any light switches.
- DO NOT light a match.
- DO NOT attempt to locate the source of the leak.
- DO NOT attempt to stop the leak.
- DO NOT return to the area until Piedmont Natural Gas or the emergency services have declared the area safe.
- DO NOT attempt to operate pipeline valves yourself. You may inadvertently cause more danger or additional damage.
- DO NOT attempt to extinguish a natural gas fire.
- If you see or suspect damage to natural gas lines or facilities due to uprooted trees or wind-related damage, call Piedmont Natural Gas at 800.752.7504 or call 911.
- Call 811 to have your natural gas lines located and marked (for free) before you remove uprooted trees, rebuild storm-damaged structures or dig anywhere on your property.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Maintain a supply of water and non-perishable food.
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, friends' or family members' homes, or pet-friendly hotels.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Report all power line hazards using the following phone numbers:
- Duke Energy Carolinas customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Visiting duke-energy.com on a desktop computer or mobile device.
- Texting OUT to 57801 (standard text and data charges may apply).
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- People who live along lakes and rivers, and in other low-lying areas or areas prone to flooding, should pay close attention to local emergency management officials, national weather service and media for changing weather conditions and rising lake and river levels.
- High water conditions can create navigational hazards and the public should use caution and adhere to the advice of local emergency management officials before going on area lakes or rivers.
- Members of the public that have electrical service to facilities (piers, outside lighting on seawalls, etc.) on or near the water, should have a qualified electrical contractor de-energize this service to avoid injuries and equipment damage.
- For updated lake level information, go to duke-energy.com/community/lakes or call Duke Energy's Lake Neighbor Information line at 800-829-Lake (5253).
- The accelerated service line replacement program through which Duke Energy Kentucky is upgrading main-to-curb and curb-to-meter service lines with low-maintenance, high-grade plastic pipe. The company launched the program in 2016 and, as of now, will conclude its work in 2019 – ahead of schedule and under budget.
- The new Big Bone natural gas pipeline, which began serving customers in 2017. The 12-inch natural gas pipeline spans approximately 10 miles from Walton to Big Bone, Ky., and was constructed in response to load growth and to enhance system reliability.
- Digital metering technology that will allow Duke Energy Kentucky to better serve its natural gas customers as well as provide customers better information and insight into their natural gas usage. The new metering technology is being deployed throughout Northern Kentucky, and the project is scheduled to wrap up by the end of 2018.
- A 66-acre site near Creek Way and 106th Street in Zionsville (Boone County)
- An 80-acre site along State Road 1 in Brookville (Franklin County) near the Interstate 74 interchange at St. Leon
- A 200-acre site at the Indianapolis Metropolitan Airport in Fishers (Hamilton County)
- A 143-acre site along East County Road 400 South near the interchange of State Road 3 and Interstate 70 (Henry County)
- A 500-acre site inside the Vermillion Rise Mega Park (Vermillion County)
- Since 2005, Duke Energy's carbon dioxide (CO2) emissions decreased by 31 percent, sulfur dioxide (SO2) emissions decreased by 96 percent and nitrogen oxides (NOx) emissions decreased by 75 percent.
- By 2030, the company plans to reduce CO2 emissions 40 percent from 2005 levels.
- Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 6,400 megawatts of wind, solar and biomass capacity – owned or under contract.
- The company is teaming up with customers to reduce customer energy consumption by 15,000 gigawatt-hours by 2020, which is equivalent to the annual usage of 1.25 million homes.
- Electric customers continue to benefit from rates below the national average in all customer classes and all service areas.
- The company met its goal to recycle 80 percent of its solid waste a year earlier than planned.
- Bausch + Lomb, Greenville and Woodruff, S.C., and Tampa, Fla.
Category: Solution Innovation – Enterprise - Enbridge, Batesville, Ind.
Category: Solution Innovation – Mid-Market - Publix, Lakeland, Fla.
Category: Storm Restoration - Palmetto Health Tuomey, Sumter, S.C.
Category: Community Excellence - Cincinnati/Northern Kentucky International Airport, Hebron, KY
Category: Economic Development - City of Asheville/Buncombe County, Asheville, N.C.
Category: Innovation in Sustainability - Chapman Cultural Center: To provide arts education to all Spartanburg County schools, to include 25 Title 1 schools.
- Chester County Historical Society: To offer hands-on history education to 3rd and 8th grade students and translate that into creative works of art and literature.
- City of Sumter: To provide access to the arts through 10 productions as part of the Youth Education Scholarship (Y.E.S.) Program at the Sumter Opera House.
- Greenwood Community Theatre: To support community youth outreach through the arts and fund The Penguin Project for children with special needs.
- Greenville Symphony: The Duke Energy EdReach Program introduces youngsters to simple music theory and the instruments and musicians that comprise a symphony orchestra.
- Peace Center for the Performing Arts: To provide access to the arts for nearly 26,000 students through the Peace Passport Field Trip Series.
- American Red Cross: To recruit and train volunteers across the state for many roles in disaster response efforts.
- Urban League of the Upstate: To support leadership development after-school programs for high school students in Greenville and Spartanburg counties.
- Community Matters Cincinnati Inc.
$20,000 for LPH Thrives in Lower Price Hill
Reduce blight and transform five properties into new storefronts for local businesses near Eighth and State streets and Neave and St. Michael streets.
- College Hill Community Urban Redevelopment Corp.
$40,000 for Marquette Building in College Hill
Redevelopment of the historic Marquette Building into a mixed-use building including a bakery and ice cream shop, large startup incubator and co-working space, and more space for The Lord's Bounty – a nonprofit resale shop that has called College Hill home for 35 years.
- Hamilton County Development Corp.
$20,000 for small business coaching in Norwood
One-on-one mentoring and coaching from an experienced business professional to help small businesses in Norwood refine their business plans, sharpen marketing, improve operations and grow.
- Hamilton County Development Corp.
$20,000 for small business coaching in Lockland
Hamilton County Development Corp. will match business experts with Lockland business owners for one-on-one coaching. The goal is to help local businesses enhance their business and marketing strategies, boost operations and grow sales. - Center for Great Neighborhoods
$40,000 for Orchard Park Place in Covington
Transform a prominent vacant and blighted lot into a new community asset and inexpensive commercial spaces for two creative businesses to expand their work and create full-time job opportunities.
- Catalytic Development Funding Corp. of Northern Kentucky
$30,000 for Ludlow Yards in Ludlow
Conversion of a 1-acre site in Ludlow's commercial corridor into at least 5,000 square feet of commercial space – creating 10-30 new jobs – and about 50 new residential units.
- Catalytic Development Funding Corp. of Northern Kentucky
$45,000 for 501 Greenup in Covington
The 501 Greenup project will repurpose a former church building into a multipurpose facility that will include a performing arts space as well as a culinary training center to provide workforce training for in-demand careers. The project is expected to create at least 30 new permanent jobs.
- Catalytic Development Funding Corp. of Northern Kentucky
$40,000 for YMCA in Covington
Renovation of the vacant 70,000-square-foot YMCA into approximately 35 residential units and roughly 30,000 square feet of space for commercial or office users – bringing upward of 20 new jobs to Covington.
- Catalytic Development Funding Corp. of Northern Kentucky
$20,000 for The Baker's Table in Covington
Redevelopment of the vacant Heringer Meat Market building on West Seventh Street into a dedicated brick and mortar bakery that will open with six full-time employees and one part-time employee. - Solar Rebates – Applications are being accepted now from customers interested in Duke Energy's five-year, $62 million solar rebate program. The program is expected to more than double the number of private solar energy customers in North Carolina over the next five years. Customers wishing to apply should visit duke-energy.com/NCSolarRebates.
- Competitive Bidding RFP – Duke Energy is looking to add 680 megawatts (MW) of renewable energy in the Carolinas to increase its diverse energy mix. Today, it filed a request for proposal (RFP) for companies to build future large-scale solar or other renewable facilities in the Duke Energy territories of North Carolina and South Carolina. At peak output, 680 MW of solar capacity can power more than 100,000 homes.
- Budget Billing gives customers better control over their energy spending by establishing predictable monthly payments.
- Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their summer bills.
- Customers can also sign up to receive High Bill Alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
- Customers with smart meters can check online to view their daily usage tool. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing their bill.
- Set your AC to the comfortable setting that meets your lifestyle needs. Hot summer days can mean higher energy bills. The further your thermostat setting is from the temperature outside, the higher your energy bill will be.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors, or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weatherstripping. And keep the door closed as much as you can to keep the cool air inside.
- Eligible homeowners in Indiana can get a free home energy assessment, which includes an Energy Efficiency Starter Kit containing LEDs, an energy-efficient showerhead, and switch and outlet energy seals.
- Duke Energy partners with local agencies to help low-income customers who may struggle to pay their energy bills. Please visit the company's website or call 800.521.2232 to learn more about the special assistance programs available to Indiana customers.
- In addition, financial emergencies may occur from time to time. Duke Energy strongly encourages customers to call 800.521.2232 to learn about payment arrangements if they receive a disconnection notice and cannot pay before the disconnection date.
- Budget Billing gives customers better control over their energy spending by establishing predictable monthly payments.
- Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their summer bills.
- Customers can also sign up to receive High Bill Alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
- Set your AC to the comfortable setting that meets your lifestyle needs. Hot summer days can mean higher energy bills. The further your thermostat setting is from the temperature outside, the higher your energy bill will be.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors, or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weatherstripping. And keep the door closed as much as you can to keep the cool air inside.
- Eligible homeowners in the Carolinas, Midwest and Florida can get a free home energy assessment, which includes an Energy Efficiency Starter Kit containing LEDs, an energy-efficient showerhead, and switch and outlet energy seals.
- Duke Energy partners with local agencies to help low-income customers who may struggle to pay their energy bills. Please visit the company's website or call 800.700.8744 to learn more about the special assistance programs available to Florida customers.
- In addition, financial emergencies may occur from time to time. Duke Energy Florida strongly encourages customers to call 800.700.8744 to learn about payment arrangements if they receive a disconnection notice and cannot pay before the disconnection date.
- Equal Payment Plan gives customers better control over their energy spending by establishing predictable monthly payments.
- Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their summer bills.
- Customers can also sign up to receive High Bill Alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
- Customers with smart meters can check online to view their daily usage tool. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing their bill.
- Set your AC to the comfortable setting that meets your lifestyle needs. Hot summer days can mean higher energy bills. The further your thermostat setting is from the temperature outside, the higher your energy bill will be.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors, or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weatherstripping. And keep the door closed as much as you can to keep the cool air inside.
- Eligible homeowners in the Carolinas, Midwest and Florida can get a free home energy assessment, which includes an Energy Efficiency Starter Kit containing LEDs, an energy-efficient showerhead, and switch and outlet energy seals.
- Duke Energy partners with local agencies to help low-income customers who may struggle to pay their energy bills. Please visit the company's website, call 800.452.2777 (Duke Energy Progress) or 800.777.9898 (Duke Energy Carolinas) to learn more about the special assistance programs available to North Carolina customers.
- In addition, financial emergencies may occur from time to time. Duke Energy strongly encourages customers to call to learn about payment arrangements if they receive a disconnection notice and cannot pay before the disconnection date.
- Budget Billing gives customers better control over their energy spending by establishing predictable monthly payments.
- Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their summer bills.
- Customers can also sign up to receive High Bill Alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
- Customers with smart meters can check online to view their daily usage tool. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing their bill.
- Set your AC to the comfortable setting that meets your lifestyle needs. Hot summer days can mean higher energy bills. The further your thermostat setting is from the temperature outside, the higher your energy bill will be.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors, or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weatherstripping. And keep the door closed as much as you can to keep the cool air inside.
- Eligible homeowners in the Carolinas, Midwest and Florida can get a free home energy assessment, which includes an Energy Efficiency Starter Kit containing LEDs, an energy-efficient showerhead, and switch and outlet energy seals.
- Duke Energy partners with local agencies to help low-income customers who may struggle to pay their energy bills. Please visit the company's website or call 800.544.6900 to learn more about the special assistance programs available to Ohio and Kentucky customers.
- In addition, financial emergencies may occur from time to time. Duke Energy strongly encourages customers to call 800.544.6900 to learn about payment arrangements if they receive a disconnection notice and cannot pay before the disconnection date.
- Duke Energy employs more than 2,000 military veterans, from engineers who operate the nuclear fleet to lineworkers who connect customers to the grid.
- Duke Energy plans to increase the number of hours of annual military leave with full pay for National Guard and Reserve members from 80 to 120 hours beginning Jan. 1, 2019.
- Over the past year, Duke Energy's military recruiting team has attended more than 30 military-related events nationwide.
- Together We Stand, a 450-member veteran-focused employee resource group, mentors new hires and helps veterans adjust to civilian life at Duke Energy.
- Duke Energy actively participates in Enable America, a nonprofit funded in part by the Duke Energy Foundation that provides training and job placement assistance for disabled veterans.
- 20 percent of Americans read below the level needed to earn a living wage
- 50 percent of American adults cannot read a book written at the eighth-grade level
- Six out of 10 American households do not buy a single book in an entire year
- 85 percent of juvenile offenders have problems reading
- Classroom Central – $18,000 to create a dedicated STEM section in the organization's Free Store that enables teachers to bring learning experiences directly to students.
"Duke Energy and Piedmont Natural Gas has been one of Classroom Central's most committed corporate partners since we opened in 2002. In addition to donating truckloads of school supplies each year for the students and teachers we serve, they funded the launch of a new STEM section in our Free Store to provide curriculum and materials for 21st-century learning," said Karen Calder, executive director of Classroom Central. "We are grateful to the employees of Duke Energy and Piedmont Natural Gas who generously contribute hundreds of volunteer hours each year, allowing us to offer supplies to 127,000 students across six school districts in North Carolina and South Carolina." - East Durham Children's Initiative – $20,000 to provide a five-week, intensive summer learning program for 60 East Durham students in grades K-2 who are performing in the lowest quartile in reading and math.
"Duke Energy continues to be an important partner in EDCI's work to reduce summer learning loss among children. Kids attending EDCI BELL Summer Camp this year will receive high-quality instruction in reading and math and learn about careers in different STEM fields," said David Reese, CEO of EDCI. "In fact, Duke Energy's support has inspired us to host an Energy Week at camp this year, where students will learn about different energy concepts from Duke Energy employees." - FIRST North Carolina – $90,000 to provide STEM opportunities for students in rural and low-income communities through its Power Up STEM program.
"Duke Energy is truly a leader in ensuring that the next generation of engineers, computer scientists and STEM leaders has access to learning opportunities that provide relevance, experience and fun, all at the same time," said Marie Hopper, president of FIRST North Carolina. "By providing the seed money to start high school robotics teams in communities that have been traditionally on the sidelines, Duke Energy helps engage students in hands-on, mentor-based robotics programs that are so much more than just about robots. Students are learning teamwork, collaboration and communication skills that will help Duke Energy and other companies fill their pipeline of future employees." - Forsyth Technical Community College Foundation – $95,844 to support the Electrical Lineman Training Institute by replacing worn equipment and connecting graduates with potential employers across the region and beyond.
"The strategic partnership between Duke Energy and Forsyth Tech for the education of the next generation of electrical lineworkers is an excellent example of business-college collaboration for workforce development," said Dr. Gary Green, president of Forsyth Technical Community College. "Because of Duke Energy's generous support, we are providing career opportunities for young people to earn excellent wages and benefits." - Catawba County Historical Association (NC) Lyle Creek at Bunker Hill Covered Bridge – $100,000 to acquire and permanently protect a 27.5-acre tract of land along a degraded section of Lyle Creek, which feeds into Lake Norman.
- Conservation Trust for North Carolina (NC) Wildacres Conservation Easement – $34,779 to help secure a 1,076-acre conservation easement permanently safeguarding wildlife habitat and water quality on Wildacres Retreat.
- Dan River Basin Association (DRBA) (NC and VA) Get Dirty with DRBA – $16,460 to organize 300 volunteers in river cleanups across the Dan River Basin.
- Eden Downtown Development Inc. (NC) Eden River Access Points – $100,000 to replace the Draper Landing and establish a new Klyce Street Landing access point in the City of Eden.
- Mainspring Conservation Trust Inc. (NC) Dills-Cartoogechaye Creek Restoration – $100,000 to restore 1,200 feet of streambank and provide educational signage along Cartoogechaye Creek to increase water quality, benefit rare aquatic species and provide public education.
- Marbles Kids Museum (NC) River Play-way – $99,500 to develop a playful river-themed exhibit using hands-on learning to spark curiosity in and care for the Neuse River.
- Maritime Heritage Foundation of Beaufort, North Carolina Inc. (NC) Gallants Channel: Water Access for Educational Programs, North Carolina Maritime Museum Beaufort – $100,000 to develop a new marina and floating docks at Gallants Channel.
- Tennessee Tech University (NC) Didymo Research Project – $31,508 to conduct research on Didymo colonization and mat formation, and to better define the conditions that lead to blooms in North Carolina streams.
- The Conservation Fund (NC) Deep River Conservation Corridor – $100,000 to purchase 15 acres of property in Chatham County as part of expanding the Deep River State Trail and the Jordan Lake State Recreation Area. The area is a critical habitat for the Cape Fear shiner.
- The Parks Conservancy of New Hanover County (NC) Pages Creek Parks Preserve Kayak Launch and Storage – $17,000 to build a kayak launch and storage at the first and only public access point on Pages Creek.
- Town of North Wilkesboro (NC) Memorial Park to Mulberry Fields Greenway Connection Project – $48,000 to restore a riparian buffer and provide educational signage along a greenway connection between the Memorial Park Trailhead and the Mulberry Fields section. The greenway lies along the Yadkin River.
- City of Manning (SC) Pocotaligo Nature Walk and Trail – $100,000 to renovate and expand a popular boardwalk through the Pocotaligo Swamp known as the Pocotaligo River Walk and Trail, and to bring the boardwalk up to ADA standards.
- Florence County (SC) Lynches River Boat and Kayak Project – $68,200 for river cleanup at four priority areas along the Lynches River to improve access for boaters and kayakers.
- Friends of the Reedy River (SC) Cleveland Park Stables – $100,000 to convert 2.5 acres along the Reedy River into a passive public park. Invasive plants will be removed and replaced with native vegetation, and educational signage will share the project's connection to improving water quality.
- Lindsay Pettus Greenway (SC) Gills Creek Nature Pavilion, Trail and Observation Piers – $100,000 to construct a trail and pier overlooks to provide recreational trail users access to Gills Creek in Lancaster, S.C.
- Town of Cheraw (SC) Cheraw Erosion and Handicap Fishing Deck Project – $100,000 to provide three ADA-compliant fishing platforms at the Town of Cheraw's Riverside Park on the Pee Dee River.
- Greater Cincinnati STEM Collaborative – $30,000 to purchase bicycles and helmets for students in the STEM Bicycle Club after-school program; enable hundreds of diverse, low-income students to attend STEM summer camps; and allow hundreds of middle school-age girls to attend Greenlight for Girls Day Cincinnati, which provides engaging, hands-on STEM workshops.
- Northern Kentucky University Foundation – $50,000 for scholarships for Northern Kentucky middle school teachers to attend the Next Generation STEM Classroom Project to learn how to best keep students engaged and interested in STEM subjects.
- Cincinnati Public Schools – $39,925 for high-quality instruction, time-tested reading intervention materials and more to reverse deficiencies in second-grade literacy across the district – and help students reach literacy proficiency.
- The Literacy Network of Greater Cincinnati – $15,000 to recruit, train and support volunteer reading tutors; supply books to tutors to encourage their students to read at home; build Little Free Libraries across the city; support the Children's Basic Reading Program, which helps children who have profound reading difficulties or symptoms of dyslexia; and underwrite the Winners Walk Tall program, which provides character lessons to help children develop healthy habits, a positive self-esteem, respect and the ability to make good decisions.
- Northern Kentucky Cooperative for Educational Services – $25,000 to connect high schools and employers to prepare students for successful transitions to the next chapters in their lives as well as their careers.
- Warren County Educational Service Center – $25,000 to expand career exploration opportunities to students deemed at risk; develop and implement various tiers of mentoring services with local businesses; and provide opportunities for students to engage in innovative programming designed to increase awareness of the top priority areas of industry and develop formal and informal professional mentoring relationships within their future career trades.
- A 66-acre site near Creek Way and 106th Street in Zionsville (Boone County)
- A 175-acre site in the River Ridge Commerce Center in Jeffersonville (Clark County)
- An 80-acre site along State Road 1 near the Interstate 74 interchange at St. Leon (Franklin County)
- A 200-acre site at the Indianapolis Metropolitan Airport in Fishers (Hamilton County)
- A 143-acre site along East County Road 400 South near the interchange of State Road 3 and Interstate 70 (Henry County)
- A 500-acre site inside the Vermillion Rise Mega Park (Vermillion County)
- Valuing work-family balance – In 2017, Duke Energy began offering mothers and fathers fully paid parental leave – totaling six weeks – to allow for bonding, bolster work-family balance and help attract and retain highly skilled workers. Duke Energy's other family-focused employee benefits include a $5,000 reimbursement for costs associated with adopting a child, generous vacation time, paid sick leave, and paid time off to care for a sick or injured child, parent or other family member.
- Fostering diversity and inclusion – A 20-year-old network of Employee Resource Groups representing African-Americans, Hispanics, women, people with disabilities, new employees, veterans and the LGBT community that work to address the needs of employees, communities and customers.
- Supporting our communities – Through the Duke Energy In Action program, the company sponsors volunteer projects for employees throughout the year and provides them with 10 paid hours to volunteer for a cause of their choice. Employees can also earn company donations through volunteerism and receive dollar-for-dollar matching donations to the cause of their choice from the Duke Energy Foundation.
- Focusing on safety – In 2017, Duke Energy's safety performance was strong, with an employee Total Incident Case Rate (TICR) of 0.36 – the best ever for Duke Energy and one of the best in the industry.
- Shared Solar – Will allow customers to subscribe to the output of a nearby solar facility and provides an alternative for customers who do not want, or can't have, a solar array on their property.
- Green Source Advantage – Will allow large customers to secure solar power to offset the amount of power purchased from Duke Energy. This is an expanded version of a pilot program Duke Energy Carolinas provided.
- Continue fleet modernization – By 2030, the company expects more than 80 percent of its generation mix to come from zero and lower CO2-emitting sources.
- Continue investments in nuclear fleet – Through 2017, this zero CO2 emissions option marked 19 consecutive years operating at a capacity factor exceeding 90 percent, and the company is evaluating the possibility of extending nuclear operating licenses.
- Expand renewables and natural gas – Invest $11 billion over 2017 to 2026 in new natural gas-fired, wind and solar generation.
- Modernize the electric grid – Invest $25 billion between 2017 and 2026 to create a smarter, more resilient grid with smart grid technologies to enable more renewables, and storm hardening and targeted undergrounding of electric lines to protect against extreme weather.
- Promote energy efficiency – Based on the expansion of existing programs, the company expects cumulative energy savings to grow to 22,000 GWh by 2030, which is the equivalent to the annual usage of 1.8 million homes.
- Residential service: $0.51 per dekatherm
- Small general service: $0.27 per dekatherm
- Medium general service: $0.24 per dekatherm
- Up to $750 for replacement of a non-EPA-certified wood stove or qualified fireplace with a new EPA-certified wood stove
- Up to $1,500 for replacement of a non-EPA-certified wood stove or qualified fireplace with a new EPA-certified wood-pellet stove, ductless heat pump or new gas stove
- Up to $4,000 for a single-story home or up to $4,500 for a two-story home for replacement of a non-EPA-certified wood stove with a new EPA-certified wood or wood-pellet stove, or ductless heat pump with a new heater rated gas stove, for an income-qualified homeowner
- Up to $6,000, or up to $10,000 for income-qualified customers, for replacement of an older technology hydronic heater with a new EPA-certified wood pellet hydronic heater or other clean technology home heating device
- Service disconnection threats: Customers may receive threats to turn off service – usually in less than an hour – if a large payment is not made.
- Immediate payment requests: Customers are asked to quickly purchase a prepaid debit card and provide the card information, which grants the scammer instant access to personal funds. Some scammers may also request a money wire.
- Calls that appear to be from your utility: Scammers may rig caller ID to make it look like the call is from a service provider.
- We encourage customers who suspect a scam to hang up and call their utility directly, followed by a call to the police. Never dial the phone number the scammers provide.
- Do not pay over the phone if immediate payment is demanded to avoid disconnection.
- Piedmont never asks or requires a customer with a delinquent account to purchase a prepaid debit card to avoid disconnection. Customers can make payments online or by phone, automatic bank draft or mail.
- Residential – 6.2 percent
- Small General Service – 5.1 percent
- Medium General Service – 3.1 percent
- Large General Service – 3.6 percent
- Residential – 7.3 percent
- Small General Service – 6.1 percent
- Medium General Service – 4.7 percent
- Large General Service – 5.6 percent
- Asheville Museum of Science (NC) French Broad River Interactive Exhibit & Education Programming – $100,000 to construct an interactive exhibit emulating the French Broad River to teach hydrology fundamentals and the impact of humans along a river's course.
- Durham Soil and Water Conservation District (NC) Bionomic Educational Training Center (BETC) – $26,500 to support a curricula-based workforce-development training program that teaches students how to design and install stormwater best management practices (BMPs).
- Girl Scouts Hornet's Nest Council (NC) Wonders of Water and Wildlife (WoWW) Lake Nature Trail – $54,750 to help construct the Lake Nature Trail, which will increase community awareness of water resource protection by developing project infrastructure and hands-on learning opportunities.
- Macon Soil and Water Conservation District (NC) Macon County Blueways Initiative – $61,625 to install five canoe launches and one stream access area at three Macon County Recreation Parks.
- Tar River Land Conservancy (NC) Knap of Reeds Watershed Protection Project – $100,000 to purchase 842 acres of watershed area in the Upper Neuse River Basin.
- Tourism-Recreation Investment Partnership for Davidson County Foundation (NC) Daniel Boone Heritage Canoe Trail – Wil-Cox Bridge/Trading Ford Recreation Area – $100,000 to increase accessibility and awareness of the Yadkin River by improving access points and amenities.
- Town of Davidson (NC) Davidson Elementary School Headcut Stream Stabilization – $91,817 to protect existing habitat and improve water quality by reducing sediment pollution downstream and stabilizing a headcut along the South Prong West Branch of the Rocky River.
- Town of Star (NC) Forks of Little River Passive Park Amenities – $30,000 to improve amenities, including construction of a picnic shelter beside the Little River and a culvert to make the hiking trail more accessible and safe.
- Town of Sunset Beach (NC) Living Shoreline at Town Park – $34,950 to preserve the shoreline and provide food and shelter for aquatic and terrestrial species through use of riparian and marsh grasses and a "living shoreline."
- City of Rock Hill (SC) Cotton Mill Stream Restoration – $100,000 to restore eroded Cotton Mill stream banks to improve water quality and enhance the plant, fish and wildlife habitat.
- Ducks Unlimited Inc. (SC) Santee National Wildlife Refuge Bluff Unit – $75,000 to enhance the publicly accessible 726-acre wetland complex, including the Dingle Pond, at the Santee National Wildlife Refuge Bluff Unit.
- Kalmia Gardens (of Coker College) (SC) Stormwater Best Management Practice Benefiting Black Creek – $77,500 to reduce the pollution load entering Black Creek from a 300-acre urban watershed while restoring site ecologies and implementing a regenerative stormwater conveyance (RSC) system.
- Open Space Institute Land Trust (SC) Black River Conservation Corridor: Enhancing Conservation, Habitat Connectivity & Public Access – $86,000 to protect critical land in the Black River Conservation Corridor and improve public access.
- Apply tax savings to offset a portion of the current rate request pending before the NCUC.
- Avoid billing customers for storm-related and ongoing environmental compliance costs.
- Accelerate the depreciation of assets, such as smart meters or coal plants, which would reduce future requests to include these investments in customer rates.
- Shared Solar – Will allow customers to subscribe to the output of a nearby solar facility and provides an alternative for customers who do not want, or can't have, a solar array on their property.
- Green Source Advantage – Will allow large customers to secure solar power to offset the amount of power purchased from Duke Energy. This is an expanded version of a pilot program Duke Energy Carolinas provided.
- Delivering value to customers – Duke Energy's more than 7.5 million electric customers continue to benefit from rates below the national average in all customer classes and all service areas, while also receiving strong reliability.
- Offering new products and services – Duke Energy is offering a number of new enhanced services in some of its service areas that will provide customers with more control over their energy use as well as offer tailored bill payment options.
- Reducing emissions rates – Since 2005, Duke Energy's U.S. carbon dioxide (CO2) emissions decreased by 29 percent, sulfur dioxide (SO2) emissions decreased by 94 percent and nitrogen oxides (NOx) emissions decreased by 70 percent. By 2030, the company plans to reduce carbon dioxide emissions 40 percent from 2005 levels.
- Investing in renewable energy – Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 5,400 megawatts of wind, solar and biomass capacity – owned or under contract. Duke Energy is on track to meet its goal of owning or having under contract 8,000 megawatts (MW) of wind, solar and biomass capacity by 2020.
- Leading in energy efficiency – The company is on track to reduce customer energy consumption by 15,000 GWh by 2020, which is equivalent to the annual usage of 1.25 million homes.
- Supporting its communities – The Duke Energy Foundation provides philanthropic support to address the needs of the communities where customers live and work. The Foundation annually provides more than $30 million in charitable grants, with a focus on three areas: K to career, the environment and community impact.
- We encourage customers to prepare by checking their supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc. Also, ensure a portable, battery-operated radio, TV or NOAA radio is on hand.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy and your local police department.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER. It's the law in Ohio and Kentucky, and a good practice for all drivers.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.543.5599
- Report an outage or view current outages online at www.duke-energy.com/winterstorm
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- As temperatures are forecasted to dive well below freezing later this weekend and early next week, Duke Energy is prepared to meet its customers' energy needs across Ohio and Kentucky.
- Our system operators are closely monitoring the electric power and natural gas systems, and the company has an adequate supply of energy to meet demand.
- The low temperatures will put higher stress on the equipment used to deliver electricity. Isolated equipment problems are possible, which could result in some scattered outages.
- We encourage customers to prepare by checking their supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc. Also, ensure a portable, battery-operated radio, TV or NOAA radio is on hand.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy and your local police department.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER. It's the law in Indiana, and a good practice for all drivers.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 800.343.3525
- Report an outage or view current outages online at www.duke-energy.com/winterstorm
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- As temperatures are forecasted to dive well below freezing later this weekend and early next week, Duke Energy is prepared to meet its customers' energy needs across Indiana.
- Our system operators are closely monitoring the electric power system and the company has an adequate supply of electricity to meet demand.
- The low temperatures will put higher stress on the equipment used to generate and deliver electricity. Isolated equipment problems are possible, which could result in some scattered outages.
- Reduce your thermostat to the lowest comfortable setting when home, and bump the thermostat down a degree or two when leaving home.
- Operate ceiling fans in a clockwise direction, which pushes warm air back down into the room.
- One of the easiest things customers can do to support heating efficiency is to change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Have the HVAC system checked regularly by a qualified heating and air conditioning contractor to maintain efficiency and peak performance. Duke Energy offers qualified customers rebates to help offset the cost of replacing older HVAC units with more energy efficient ones.
- Leave drapes or blinds open during sunny winter days to allow the sun's rays to warm the house, but close them at night to help insulate your home.
- Replace standard bulbs with compact fluorescent light (CFL) bulbs or light emitting diodes (LED). CFLs and LEDs are more efficient than regular bulbs, while giving off the same amount of light. Visit Duke Energy's online store for free and discounted bulbs: duke-energy.com/deals.
- Qorvo Inc., Apopka, FL
Category: Solutions Innovation
Qorvo, global provider of innovative radio frequency (RF) solutions that connect us, partnered with Duke Energy to develop an innovative backup generation/demand response system. This solution delivers premium service reliability to customers while helping Duke Energy manage its system during times of grid stress. The resiliency provided by this solution is key for Qorvo's advanced processes, so it can scale production to support global smartphones and the networks that connect our world.
- Grifols, Clayton, NC
Category: Solutions Innovation
Grifols produces essential plasma-derived medicines for patients and provides hospitals, pharmacies and health care professionals with the tools, information and services they need to help them deliver expert medical care. The company's manufacturing processes require extremely high levels of reliability and power quality. Over the years, Grifols has worked with Duke Energy to meet this premium power requirement, leveraging Duke Energy's Premier Power solution, as well as redundant transformers and an alternate distribution service.
- Sierra Nevada Brewing Co., Fletcher, NC
Category: Community Excellence
When a new manufacturing neighbor moved to town, Sierra Nevada Brewing did what neighbors often do: welcomed them to the neighborhood. However, to economically serve this new neighbor's 13-megawatt demand for power, Duke Energy required access across Sierra Nevada's campus. Rather than throwing up barriers, Sierra Nevada worked with Duke Energy and the manufacturer to grant the access needed to serve the new demand. This not only reduced Duke Energy's cost to serve the new customer, but also allowed Duke Energy to meet the manufacturer's timeline, smoothing the way for a $217 million investment in its new facility.
- Naval Support Activity Crane, Crane, IN
Category: Renewable Excellence
Throughout the country, the U.S. Navy has been working with utilities to advance renewable energy projects in support of the Navy's renewable and energy security goals. Duke Energy has partnered with the Naval Support Activity Crane base to install, own and operate a 17-megawatt solar power plant. It is Duke Energy's first regulated solar investment in Indiana. Making its land available to Duke Energy, the Navy has enabled the utility to generate clean, renewable power at Naval Support Activity Crane and flow this power to the grid for consumption by all customers.
- Subaru of Indiana Automotive Inc., Lafayette, IN
Category: Innovation in Sustainability
Subaru is a recognized leader in environmental stewardship, winning 11 major awards since 2003. In addition to being an early innovator in recycling, the company has made a continuing commitment to reduce its waste stream. With a dedicated staff of sustainability professionals, Subaru freely shares its best practices with others, including Duke Energy's sustainability organization. In addition, Subaru and Duke Energy worked together in 2016 to erect two bald eagle nesting platforms on Subaru's site, helping increase the bald eagle population.
- Godwin Manufacturing, Dunn, NC
Category: Storm Restoration
When severe weather strikes, Duke Energy crews leap into action, supported by a logistics team that provides the facilities, equipment and materials needed to quickly and safely restore service. Making these items promptly available to crews is key to timely restorations. For the past 16 years, Godwin has allowed Duke Energy to use its gated truck lot to stage materials needed for storm restoration. In addition, Pat Godwin, president of Godwin Manufacturing, allows Duke Energy access to climate-controlled facilities with running water and restrooms. - The laborers who install environmental control devices, perform ground clearing, coat and install the pipe and restore the right of way.
- The teamsters who transport personnel, materials and equipment.
- The operators who operate excavators, bull dozers, pipe bending and laying machines, cranes, forklifts and other construction equipment.
- The welders who weld and bend the pipe, install road bores and perform hydrostatic testing.
- A 115-acre site located in Port St. Joe along the eastern edge of the Florida panhandle. (Gulf County)
- A 265-acre development – Summer Lake-Grace – located at the Wolf Branch Innovation District. (Lake County)
- A 110-acre property located in central Florida and nestled in the Haines City industrial park. (Polk County)
- A 218-acre site strategically located one-and-a-half miles from Interstate 75 in central Florida. (Sumter County)
- Since 2005, Duke Energy's U.S. carbon dioxide (CO2) emissions decreased by 29 percent, sulfur dioxide (SO2) emissions decreased by 94 percent and nitrogen oxides (NOx) emissions decreased by 70 percent.
- By 2030, the company plans to reduce carbon dioxide emissions 40 percent from 2005 levels.
- Since 2007, Duke Energy has grown its renewable generation portfolio and now has more than 5,400 megawatts of wind, solar and biomass capacity – owned or under contract.
- The company is on track to reduce customer energy consumption by 15,000 GWh by 2020, which is equivalent to the annual usage of 1.25 million homes.
- Electric customers continued to benefit from rates below the national average in all customer classes and all service areas.
- The company is on target to recycle 80 percent of its solid waste by 2018. Currently, 76 percent of the solid waste produced by Duke Energy is recycled.
- Power disconnection threats: Customers may receive threats to turn off electric service – usually in less than an hour – if a large payment is not made.
- Immediate payment requests: Customers are asked to quickly purchase a prepaid debit card and provide the card information, which grants the scammer instant access to personal funds. Some scammers may also request a money wire.
- Calls that appear to be from your utility: Scammers may rig caller ID to make it look like the call is from a service provider.
- We encourage customers who suspect a scam to hang up and call Duke Energy immediately at the phone number listed on their bill, followed by a call to the police. Never dial the phone number the scammers provide.
- Do not pay over the phone if immediate payment is demanded to avoid disconnection. Customers with delinquent accounts receive an advance disconnection notification from Duke Energy with the regular monthly billing – never a single notification an hour before disconnection.
- Duke Energy never asks or requires a customer with a delinquent account to purchase a prepaid debit card to avoid disconnection. Customers can make payments online, by phone, automatic bank draft, mail or in person.
- An average of nearly 3,300 jobs supported per year
- Almost $315 million in new salaries and wages annually during the peak years of construction
- More than $116 million in new tax revenue for the state
- A total economic output of more than $5 billion over the next decade
- Clearwater Marine Aquarium ($50,000): to assist stranded and endangered animals through its Sea Turtle Rescue, Rehabilitation and Release program
- Audubon Center for Birds of Prey ($50,000): to promote water, energy and habitat conservation through Eagle Eyes on the Environment program
- Franklin's Promise Coalition, Inc. ($33,000): to conduct regional habitat restoration projects through the Conservation Corps of the Forgotten Coast, a young adult development program
- Oakland Nature Preserve, Inc. ($25,000): to support its Summer Environmental Education Camp and Blue Tour program
- Bok Tower Gardens, Inc. ($25,000): to aid in the restoration of sandhill and scrub habitats in three counties and conserve federally endangered clasping warea and its pollinators
- Friends of the Largo Nature Parks, Inc. ($23,500): to provide educational field trips to 2,500 Title 1 school students in Pinellas County
- Cade Creativity Labs ($10,000): to provide innovative educational opportunities for teachers and students through the Get to Know Your H2O project with material development, semi-sponsored field trips to the Cade Museum and a portable teaching unit
- Fuel Costs – increased by $4.61 (from $33.77 to $38.38), which is a reduction from $7.14 originally proposed on August 24. The reduction is a result of the settlement, which allows for spreading the costs for under-recovered fuel of approximately $196 million over a two-year period (rather than one year). The company makes no profit from fuel.
- Capacity Cost Recovery Clause – increased by $1.43 from $11.38 to $12.81 per 1,000 kWh due to an increase in purchased power costs and a 2017 under-recovery.
- Energy Conservation Cost Recovery Clause – increased by 11 cents from $3.17 to $3.28 per 1,000 kWh.
- Environmental Cost Recovery Clause – increased by 6 cents from $1.51 to $1.57 per 1,000 kWh due primarily to a smaller over-recovery included in 2018 rates compared to 2017.
- For the Nuclear Cost Recovery Clause, Duke Energy filed for a slight decrease from $1.56 to $1.52 per 1,000 kWh for the power uprate project at the Crystal River Nuclear Plant in Citrus County. Customers will see immediate benefits from the settlement agreement in 2018 with the removal of the Levy County nuclear project of $2.50 per 1,000 kWh.
- Use the Energy Slayer Calculator to help unplug electronic devices and save money.
- Turn off your lights at night to see where energy vampires lurk. Standby lights on electronics, such as TVs, cable boxes, DVRs and MP3 players, are telltale signs that your power is slowly draining even though the product isn't in use.
- Unplug devices when you're not using them, including adapters for battery-powered gizmos that are not connected or are fully charged. Also, set your computers and other equipment to an energy-efficient mode.
- Plug devices and equipment, including adapters, into power strips. This makes it easier to turn them off with a single switch. You can even buy "smart" power strips that automatically turn off power to devices that aren't in use.
- Look for the ENERGY STAR® label when purchasing new appliances. ENERGY STAR appliances can use up to half as much energy to perform their normal duties.
- Avoid buying products that include "bells and whistles" you don't need. Some of these extra features may waste energy.
- Set your AC to the highest comfortable setting. Every degree increase saves about 5 percent in cooling costs. ENERGY STAR® recommends a minimum set point of 78 degrees Fahrenheit.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Use heat-producing appliances such as your oven and stove and your washer and dryer at night when it's cooler to avoid building up heat in your home during warmer times of day.
- Customers who have smart meters can monitor their hourly and daily energy usage online. This helps customers track their energy use and make adjustments in between billing cycles to help them save energy and money. duke-energy.com/our-company/about-us/smart-grid/smart-meter
- Duke Energy Carolinas customers can take control of their electricity use and monthly budget with Usage Alerts. Customers will automatically receive an email halfway through the billing cycle. The email will include the current bill amount and a projection of what their final monthly bill could be. Customers also have the option to receive mid-cycle alerts via text message. Customers can set up budget alerts to help keep their bill in check. They will be informed when their bill is expected to reach a specific dollar amount of their choosing, allowing them to course-correct and cut back on usage if they wish.
- Customers also receive high bill alerts if their bill is projected to be $30 and 30 percent higher than usual. This projection is based upon historical usage and whether the temperatures are higher or lower than last month. The courtesy alerts are sent halfway through the normal billing cycle, allowing customers to have time to make energy-saving choices to help reduce their bill. In order to receive an alert, a customer should have a current email address on file and at least 12 months of usage history. duke-energy.com/home/billing/high-bill-alerts
- Community Improvement Corporation of Silverton
$35,000 for Silverton Brewing Company
The Community Improvement Corporation of Silverton's grant will actually facilitate two redevelopment projects along Montgomery and Plainfield roads in the village's central business district. First, it will help the Silverton Brewing Company repurpose the historic Silverton Memorial Municipal Building into a craft brewery, restaurant and taproom. Second, the grant will contribute toward the Village of Silverton's plans to repurpose a former funeral home into a new village administration building.
- Downtown Middletown Inc.
$15,400 for Snider Building
Downtown Middletown's Snider Building – also known as the Sunshine Building – is a critical component of the rebirth of the city's urban core. Once renovated, the building will house a microbrewery and taproom, anchor the revitalization of the downtown business district and lead to more than 40 new jobs. Also, the microbrewery will give students in Cincinnati State's new brewery program critical hands-on experience.
- Downtown Middletown Inc.
$18,700 for Manchester Building
The reincarnation of the Manchester Hotel in downtown Middletown will serve as an anchor and catalyst in the redevelopment of the city's urban core. The 70-room, full-service boutique hotel and conference center will lead to 70 new jobs. The hotel will also partner with Cincinnati State so students studying culinary arts and hospitality will be able to get hands-on experience unavailable at any other college in the area.
- Hamilton County Development Corp.
$20,000 for small business coaching in Reading
Hamilton County Development Corp. will match business experts with local business owners for one-on-one coaching. The goal is to help businesses refine their business plans, sharpen marketing, improve operations and grow. Reading is home to one of the largest wedding districts in the United States, hosting 54 wedding merchants serving a full range of bridal needs.
- Keep Cincinnati Beautiful
$30,000 for community resources to revamp vacant lots
Vacant lots are at the forefront of the discussion on development and will continue to play a vital role in the long-term vision and planning of Cincinnati's communities. Keep Cincinnati Beautiful will use its grant money to create the Duke Energy Learning Lot (DELL) program, which will be a comprehensive community-based workshop series and toolkit designed to help neighborhoods strategically restore and enhance vacant lots into socially, culturally and environmentally responsible assets. Keep Cincinnati Beautiful will also engage local schools to get students outside, learning about environmental issues and STEM-related studies on green infrastructure – exposing students to issues surrounding the environment through curriculum-based environmental classroom education, field trips and service learning projects.
- Walnut Hills Redevelopment Foundation Inc.
$35,000 for pre-development of former grocery store property
Walnut Hills became a food desert earlier this year when the local grocery store closed its doors after 30 years. Now, the Walnut Hills Redevelopment Foundation is partnering with the community to determine how to best use the property moving forward. The Urban Revitalization grant will be put toward community engagement, architectural design and an RFP process that will be informed by the community.
- Westwood Community Urban Redevelopment Corp.
$33,752 for redevelopment of Firehouse No. 35
Historic Firehouse No. 35 building is a mainstay in the Westwood Historic Business District. The community's urban redevelopment group has targeted the site for a new family-friendly restaurant that will serve as a destination anchor – alongside the Madcap Center and West Side Brewing. Such a restaurant will fill an unmet need for community members, create jobs and attract additional visitors and businesses. - The Catalytic Fund
$51,300 for Sixth and Vine project in Dayton
The Catalytic Development Funding Corp. of Northern Kentucky will use an Urban Revitalization grant toward the conversion of a historic building at Sixth Avenue and Vine Street in Dayton, Ky., from residential back to mixed use. Once the renovation is complete, the building will house a coffee shop and event space, and will be used by nearby artists collective The Lodge for added capacity for its existing events. In addition to repurposing the property, the Catalytic Fund hopes the work encourages surrounding property owners to invest in their own properties, too.
- The Catalytic Fund
$50,000 for Road ID headquarters in Covington
A former self-storage building at Eighth and Washington streets in Covington will be remade into the headquarters of Road ID – a local, family-owned business that manufactures custom products to help first responders identify people in case of an emergency. Once renovations are complete, the building will house Road ID's office, manufacturing, assembly and warehousing space. And, in addition to the company's 42 full-time and 60 part-time and seasonal employees, Road ID expects to hire 30 full-time and 30 part-time employees over the next five years.
- The Catalytic Fund
$18,200 for Newport Food Port in Newport
Incubator Kitchen Collective (IKC) is a nonprofit in Newport that helps Greater Cincinnati food entrepreneurs and startups overcome barriers that can prevent local food businesses from getting off the ground. IKC has helped more than 50 small businesses grow and realize their potential. The Catalytic Fund is working with IKC to expand its kitchen facility so the group can increase occupancy and output, and create direct and indirect jobs. - A 63-acre site located at the northeast corner of U.S. Highway 31 and County Road 800 North near Edinburgh (Bartholomew County)
- A 103-acre industrial park with multiple parcels available, located off of Interstate 64 at Exit 92 near Leavenworth (Crawford County)
- A 55-acre site located along U.S. Highway 52 and Interstate 74 at 1228 Harrison-Brookville Road, near West Harrison (Dearborn County)
- A 45-acre site in Noblesville at 14469 Olio Road near Exit 210 off of Interstate 69 (Hamilton County)
- $350,000: Local community agencies in Duke Energy's service territories in Florida through community partnerships.
- $250,000: Volunteer Florida Foundation – Florida Disaster Fund to assist Florida communities with response and recovery activities.
- $250,000: 14 United Way agencies serving Duke Energy communities, including Heart of Florida United Way, United Way Suncoast, United Way of Central Florida, United Way Volusia and Flagler, United Way of Pasco, United Way of Lake and Sumter, United Way of Marion County, United Way of Citrus County, United Way of Big Bend, United Way of North Central Florida, United Way of Hernando County, United Way of Northwest Florida, United Way of Suwannee Valley and United Way of Brevard.
- $150,000: Duke Energy's Energy Neighbor Fund to assist eligible Duke Energy customers in Florida with their home energy bill during times of crisis.
- By 11 p.m. on Monday, Sept. 18 – Alachua, Citrus, Hernando, Levy, Marion, Seminole and Sumter counties.
- By 11 p.m. on Tuesday, Sept. 19 – The severely impacted areas of Hardee, Highlands, Lake, Polk and Volusia counties. Also the northern Orange and Lake County border due to rebuilding the electrical system that suffered significant damage in those areas.
- Texting OUT to 57801
- Calling Duke Energy's automated outage reporting system – 800.228.8485.
- By end of day Saturday, Sept. 16: The western portion of its service area. This includes Pinellas and Pasco counties. Currently 96 percent of customers have been restored. Some of the hardest hit areas that remain include Port Richey and Holiday in Pasco County and Venetian Isles, Snell Isle, Jungle Prada, Treasure Island, Pasadena, Lake Seminole, Disston area, Bardmoor, North Clearwater Beach and Belleair in Pinellas County.
- There is no change at this time to most central and northern portions of the service area. It remains at end of day Sunday, Sept. 17. This includes Alachua, Bay, Brevard, Citrus, Columbia, Dixie, Flagler, Franklin, Gilchrist, Gulf, Hamilton, Hernando, Jefferson, Lafayette, Lake, Leon, Levy, Madison, Marion, Orange, Osceola, Polk, Seminole, Sumter, Suwannee, Taylor, Volusia, and Wakulla counties.
- By end of day Tuesday, Sept. 18: The severely impacted areas of Hardee and Highlands counties, and the cities of Apopka and DeLand due to rebuilding the electrical system that suffered significant damage in those areas.
- By midnight Friday, Sept. 15: The western portion of its service area. This includes Pinellas and Pasco counties
- By midnight Sunday, Sept. 17: central and northern portions of the service area. This includes Alachua, Bay, Brevard, Citrus, Columbia, Dixie, Flagler, Franklin, Gilchrist, Gulf, Hamilton, Hernando, Jefferson, Lafayette, Lake, Leon, Levy, Madison, Marion, Orange, Osceola, Polk, Seminole, Sumter, Suwannee, Taylor, Volusia, and Wakulla counties.
- Restoration in the severely impacted areas of Hardee and Highlands County may extend beyond Sunday due to rebuilding the electrical system that suffered significant damage in those areas.
- Texting OUT to 57801 (standard text and data charges may apply)
- Call the automated outage reporting system at 800.228.8485.
- Stay away from power lines that have fallen or are sagging. Consider all power lines energized as well as trees, limbs or anything in contact with power lines.
- Report all power line hazards using the following phone numbers:
- Duke Energy customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- Click here for a video demonstration and to read more about safety around power lines.
- If your meter box is pulled away from your house – and you have no power – the homeowner is responsible for contacting an electrician for a permanent fix. In some instances, an electrical inspection may be required before Duke Energy can reconnect your service. Your electrician should be aware and advise you accordingly.
- If the meter box is pulled away from the house – and you have power – you should call an electrician to reattach the meter box. Again, an electrical inspection may be required.
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards using the following phone numbers:
- Duke Energy customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- Click here for a video demonstration and to read more about safety around power lines.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If your meter box is pulled away from your house – and you have no power – the homeowner is responsible for contacting an electrician for a permanent fix. In some instances, an electrical inspection may be required before Duke Energy can reconnect your service. Your electrician should be aware and advise you accordingly.
- If the meter box is pulled away from the house – and you have power – you should call an electrician to reattach the meter box. Again, an electrical inspection may be required.
- By midnight Friday, Sept. 15: The western portion of its service area. This includes Pinellas and Pasco counties
- By midnight Sunday, Sept. 17: central and northern portions of the service area. This includes Alachua, Bay, Brevard, Citrus, Columbia, Dixie, Flagler, Franklin, Gilchrist, Gulf, Hamilton, Hernando, Jefferson, Lafayette, Lake, Leon, Levy, Madison, Marion, Orange, Osceola, Polk, Seminole, Sumter, Suwannee, Taylor, Volusia, and Wakulla counties.
- Restoration in the severely impacted areas of Hardee and Highlands County may extend beyond Sunday due to rebuilding the electrical system that suffered significant damage in those areas.
- Texting OUT to 57801 (standard text and data charges may apply)
- Turn off your power at the circuit breaker panel or fuse box if rising water threatens your home or if you evacuate your home.
- Stay away from downed power lines and electrical wires. DO NOT drive over or stand near downed power lines. Electric current passes easily through water.
- Never replace a fuse or touch a circuit breaker with wet hands or while standing on a wet or damp surface.
- Do not try to drive through flooded areas; most flood-related deaths occur in automobiles.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain verification from your local building inspection authority before power can be restored.
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards using the following phone numbers:
- Duke Energy customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- By midnight Friday, Sept. 15: The western portion of its service area. This includes Pinellas and Pasco counties
- By midnight Sunday, Sept. 17: central and northern portions of the service area. This includes Alachua, Bay, Brevard, Citrus, Columbia, Dixie, Flagler, Franklin, Gilchrist, Gulf, Hamilton, Hernando, Jefferson, Lafayette, Lake, Leon, Levy, Madison, Marion, Orange, Osceola, Polk, Seminole, Sumter, Suwannee, Taylor, Volusia, and Wakulla counties.
- Restoration in the severely impacted areas of Hardee and Highlands County may extend beyond Sunday due to rebuilding the electrical system that suffered significant damage in those areas.
- Texting OUT to 57801 (standard text and data charges may apply)
- Turn off your power at the circuit breaker panel or fuse box if rising water threatens your home or if you evacuate your home.
- Stay away from downed power lines and electrical wires. DO NOT drive over or stand near downed power lines. Electric current passes easily through water.
- Never replace a fuse or touch a circuit breaker with wet hands or while standing on a wet or damp surface.
- Do not try to drive through flooded areas; most flood-related deaths occur in automobiles.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain verification from your local building inspection authority before power can be restored.
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Have an emergency kit ready for use.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Finalize plans to move family members – especially those with medical or other special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards using the following phone numbers:
- Duke Energy customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Turn off your power at the circuit breaker panel or fuse box if rising water threatens your home or if you evacuate your home.
- Stay away from downed power lines and electrical wires. DO NOT drive over or stand near downed power lines. Electric current passes easily through water.
- Never replace a fuse or touch a circuit breaker with wet hands or while standing on a wet or damp surface.
- Do not try to drive through flooded areas; most flood-related deaths occur in automobiles.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain verification from your local building inspection authority before power can be restored.
- Do not attempt to disconnect or work on or around your natural gas meter.
- Do not attempt to relight any of your natural gas appliances. Call Piedmont at 800.752.7504 so we can inspect your meter and your natural gas appliances for possible damage.
- Do not attempt to clear flood debris from your natural gas meter or from any other natural gas appliance, including your water heater. Call Piedmont for an assessment.
- Never use outdoor equipment indoors for cooking or heating. This includes natural gas grills, generators, etc.
- Natural gas appliances damaged by water may need to be replaced according to manufacturer guidelines and instructions.
- When choosing a contractor for repair or replacement of your natural gas appliances, make sure the contractor is licensed, committed to safety and follows all manufacturer safety guidelines.
- You can choose to work with Piedmont Natural Gas, one of our approved Gas Advantage Dealers, or any other licensed contractor to repair or replace damaged appliances.
- View a list of Piedmont's Gas Advantage Dealers.
- Note that unauthorized repairs can be unsafe and may void your warranty according to manufacturer guidelines.
- Call your appliance manufacturer if you are unsure that the work being performed is an approved repair.
- Leave the premises immediately.
- Call Piedmont Natural Gas at 800.752.7504 or dial 911.
- Call from a neighbor's house or from another location far from the smell of natural gas.
- DO NOT use anything electrical that may create a spark; this includes cellphones.
- DO NOT operate any light switches.
- DO NOT light a match.
- DO NOT attempt to locate the source of the leak.
- DO NOT attempt to stop the leak.
- DO NOT return to the area until Piedmont Natural Gas or the emergency services have declared the area safe.
- DO NOT attempt to operate pipeline valves yourself. You may inadvertently cause more danger or additional damage.
- DO NOT attempt to extinguish a natural gas fire.
- If you see or suspect damage to natural gas lines or facilities due to uprooted trees or wind-related damage, call Piedmont Natural Gas at 800.752.7504 or call 911.
- Call 811 to have your natural gas lines located and marked (for free) before you remove uprooted trees, rebuild storm-damaged structures or dig anywhere on your property.
- Turn off your power at the circuit breaker panel or fuse box if rising water threatens your home or if you evacuate your home.
- Stay away from downed power lines and electrical wires. DO NOT drive over or stand near downed power lines. Electric current passes easily through water.
- Never replace a fuse or touch a circuit breaker with wet hands or while standing on a wet or damp surface.
- Do no try to drive through flooded areas; most flood-related deaths occur in automobiles.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain verification from your local building inspection authority before power can be restored.
- Create (or update) an emergency supply kit. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Fill your vehicle with gas and get cash. ATMs and credit card machines may not work if there are extensive outages.
- Keep a portable, battery-operated radio, TV or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Have a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Follow the direction, guidance and warnings of local government and emergency management officials.
- For company updates, resources, videos and additional information, visit duke-energy.com/irma.
- For more tips on general emergency preparedness, visit ready.gov.
- For a hurricane kit checklist, safety tips and information on what to do before, during and after a storm, visit duke-energy.com/safety-and-preparedness/storm-safety.
- Going online at www.duke-energy.com
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Create (or update) an emergency supply kit. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Fill your vehicle with gas and get cash. ATMs and credit card machines may not work if there are extensive outages.
- Keep a portable, battery-operated radio, TV or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Have a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Follow the direction, guidance and warnings of local government and emergency management officials.
- For company updates, resources, videos and additional information, visit duke-energy.com/irma.
- For more tips on general emergency preparedness, visit ready.gov.
- For a hurricane kit checklist, safety tips and information on what to do before, during and after a storm, visit duke-energy.com/safety-and-preparedness/storm-safety.
- Going online at duke-energy.com or by visiting our mobile website at m.duke-energy.com
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Please do not enter turbulent and swift water resulting from the hurricane.
- When boating, be especially cautious and observant for floating debris such as logs, limbs and docks.
- Residents living along lakes, streams and other low-lying and flood-prone areas should pay special attention to changing weather conditions and take any necessary precautions.
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Maintain a supply of water and non-perishable food.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, friends' or family members' homes, or pet-friendly hotels.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards using the following phone numbers:
- Duke Energy customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- Create (or update) an emergency supply kit. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Fill your vehicle with gas and get cash. ATMs and credit card machines may not work if there are extensive outages.
- Keep a portable, battery-operated radio, TV or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Have a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Follow the direction, guidance and warnings of local government and emergency management officials.
- For company updates, resources, videos and additional information, visit duke-energy.com/irma.
- For more tips on general emergency preparedness, visit ready.gov.
- For a hurricane kit checklist, safety tips and information on what to do before, during and after a storm, visit duke-energy.com/safety-and-preparedness/storm-safety.
- Going online at duke-energy.com or by visiting our mobile website at m.duke-energy.com
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Maintain a supply of water and non-perishable food.
- Review insurance policies, and include extra copies of the policies and other important documents in your emergency supply kit (ideally in a waterproof container).
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
- Charge cellphones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs or evacuation is required.
- Pet owners can make arrangements to stay at evacuation shelters that accept pets, friends' or family members' homes, or pet-friendly hotels.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees, limbs or anything in contact with lines.
- Report all power line hazards using the following phone numbers:
- Duke Energy customers – 800.769.3766
- Duke Energy Progress customers – 800.419.6356
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- Visiting duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- The installation of advanced metering technology (smart meters) to enable more bill-lowering tools, access to more information about energy use, and the ability to receive usage alerts, outage notifications and customized billing options once fully implemented.
- An investment of $14.8 million in three solar sites in Walton and Crittenden that helps provide emissions-free energy to Kentucky homes and businesses.
- Duke Energy's $12.4 million purchase of the remaining 31 percent jointly owned generating assets at East Bend Station from Dayton Power and Light in 2014. The purchase will provide long-term capacity for Duke Energy Kentucky customers.
- Detailed plans to convert East Bend Station's wet ash handling system to a dry ash disposal system to comply with federal regulations.
- Safely closing its current East Bend Station coal ash basin and construction of a new on-site landfill to handle generator waste materials.
- In September 2008, Kentucky faced catastrophic devastation from a complex storm that required the company to completely rebuild a large part of Duke Energy Kentucky's energy system. This request includes recovery of $5 million in costs, spread out over five years, incurred to repair significant damage caused by Hurricane Ike.
- Strengthening the grid through strategic investments including replacing hundreds of miles of aging overhead and underground power lines.
- A reduction of $2.50 per 1,000 kilowatt-hours (kWh) for residential customers through the removal of unrecovered Levy Nuclear Project costs. Customers will not pay any further costs related to this project. The company will absorb more than $150 million in costs that would have been recovered through rates.
- A reduction of $2.53 per 1,000 kWh for residential customers by spreading the costs for under-recovered fuel of approximately $196 million over a two-year period (rather than one year).
- The addition of 700 MW of cost-effective solar power facilities over the next four years, accelerating the company's previous 10-year solar installation plan.
- Expanded customer choices with two new optional billing programs – a Shared Solar program to allow customers to participate in solar generation, and a FixedBill program for residential customers to allow them to pay a fixed amount each month regardless of usage.
- Investments to modernize the energy grid to enhance reliability, reduce outages, shorten restoration times and support the growth of renewable energy and emerging technologies.
- Installation of advanced metering technology (smart meters) to enable more bill-lowering tools, access to more information about energy use, and the ability to receive usage alerts, outage notifications and customized billing options once fully implemented.
- The installation of more than 500 electric vehicle charging stations and up to 50 MW of battery storage.
- Highly efficient natural gas power plant (Anderson County, S.C.) that continues to reduce carbon emissions
- Two new solar sites (Monroe and Mocksville, N.C.) that provide 75 megawatts of emissions-free energy to Carolinas homes and businesses
- Nuclear licensing and initial development costs at the Lee Nuclear site
- Costs since 2015 for compliance with new federal and state regulations and safe closure of ash basins at seven sites in the Carolinas
- Beneficially using nearly 3 million tons of coal ash from the Riverbend Steam Station
- Storm hardening and self-optimizing grid technology that will help reduce outages and improve reliability for customers and allow the utility to remotely manage the grid
- Smart meters to enable more energy-saving, bill-lowering tools for customers and faster service connection and outage detection. Additionally, customers can pick their own due date and receive energy usage alerts.
- Turning on the natural gas at a property without an active customer account – called unauthorized use – is the most common form of stealing, accounting for more than two-thirds of all known cases of theft last year.
- Tampering with meters so they don't accurately record the volume of natural gas being used.
- Stealing meters associated with one account and installing them at another property.
- Connecting makeshift piping using garden hoses or even bicycle inner tubes to bypass the meter.
- Piedmont will never advise customers to use a government routing number to pay their natural gas bill.
- Customers should be extremely cautious of any communication that urges them to reveal their Social Security number.
- Piedmont's payment options are clearly outlined at www.piedmontng.com/payment.
- Always call Piedmont at 1-800-752-7504 if you have a question about paying your bill.
- Customers who think they have been victimized by this bill payment scam should call their local authorities first and then reach out to Piedmont Natural Gas at 1-800-752-7504.
- University of Central Florida Foundation, Inc. ($245,000)
- Pinellas County Education Foundation, Inc. ($212,000)
- Lake-Sumter State College Foundation, Inc. ($110,000)
- Orlando Science Center, Inc. ($100,000)
- Valencia College Foundation, Inc. ($75,000)
- Consortium of Florida Education Foundations, Inc. ($50,000)
- Foundation for Building Community, Inc. ($50,000)
- EDC Foundation for Education, Inc. ($50,000)
- Foundation for Orange County Public Schools, Inc. ($50,000)
- CareerSource Pinellas, Inc./The Science Center ($50,000)
- Florida Polytechnic University Foundation, Inc. ($50,000)
- Polk Education Foundation and Business Partnership, Inc. ($50,000)
- Citrus County Education Foundation, Inc. ($40,000)
- Foundation for Seminole County Public Schools ($40,000)
- YMCA of the Suncoast ($35,000)
- Pasco Education Foundation, Inc. ($30,000)
- St. Petersburg College Foundation, Inc. ($30,000)
- Futures Foundation for Volusia County Schools ($30,000)
- Educational Foundation of Lake County, Inc. ($28,000)
- University of South Florida Foundation, Inc. ($25,000)
- The Foundation for Osceola Education, Inc. ($25,000)
- Polk State College Foundation, Inc. ($25,000)
- Health and safety repairs up to $3,000 per home such as installation of hand rails, carbon monoxide detectors, minor roof, plumbing leaks and electrical repairs
- Appliance replacement up to $2,000 per home including washing machine, refrigerator, and room air conditioners
- Heating and cooling system repair up to $800 per home
- A true-up component of the fuel rate intended to resolve the difference between projected fuel costs and what is actually billed to customers
- An increase in expenditures related to distributed energy resource initiatives to meet the goals of Act 236 (or the Distributed Energy Resource Program Act)
- A 20 year-old network of Employee Resource Groups representing African Americans, Hispanics, women, people with disabilities, new employees, veterans and the LGBT community that work to address the needs of employees, communities and customers.
- Diversity Councils that sponsor local D&I education and awareness activities, and support our diverse customers through volunteerism and community outreach.
- A series of facilitated conversations, called "Pathways to Inclusion," hosted by company leaders in the wake of the civil unrest in Charlotte, NC in 2016 that provided a venue for employees to discuss the recent events, their impact and how we can move forward and create unity.
- An unconscious bias training program that was piloted with 75 leaders in 2016, with plans to expand in the future.
- Budget Billing gives customers better control over their energy spending by establishing predictable monthly payments.
- Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their summer bills.
- Customers can also sign up to receive High Bill Alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
- Set your AC to the highest comfortable setting. Every degree increase saves about 5 percent in cooling costs. Energy Star recommends a minimum set point of 78 degrees Fahrenheit.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weather stripping. And keep the door closed as much as you can to keep the cool air inside.
- The Newlin Farm Site in Haw River is a 200-acre tract with heavy power and water infrastructure and easy access to Interstates 40 and 85. It is a complement to the site inventory already present in Alamance County and is capable of meeting the needs of a large industrial project.
- The Chatham-Siler City Advanced Manufacturing Site in Chatham County is a 290-acre tract situated in close proximity to the Siler City Advanced Manufacturing site. It has adjacency to Highway 64 and will likely serve as a supplier park or commercial support park (hotels, convenient stores, etc.) to any nearby larger project.
- The 79-acre Craven County-owned site in the Craven County Industrial Park is located on U.S. Highway 70 near New Bern. This is a prime location for industrial use.
- The 401 North Site is a 532-acre property located near the Highway 401 and Interstate 295 interchange in Cumberland County. It is well suited for industrial use as it has excellent infrastructure that includes rail.
- The Watson Farm site is a 278-acre parcel located between Youngsville and Franklinton on Highway U.S. 1 North in Franklin County. The site has excellent potential for industrial development and can be rail served.
- The 278-acre Roberts and Wellons site in Johnston County is located on the NCRR/Norfolk Southern main rail line. Minutes from downtown Raleigh and the Research Triangle Park, this site has the potential to accommodate biotech manufacturing facilities as well as warehousing, distribution, refrigeration and other projects.
- M/I Homes – Production Builder of the Year
- GWB Construction – Low Volume Builder of the Year
- Southern Energy Management – Rater of the Year
- Bill Clark Homes – Production Builder of the Year
- Herrington Homes – Low Volume Builder of the Year
- Above and Beyond Energy – Rater of the Year
- JAG and Associates – Production Builder of the Year
- Living Stone Design + Build – Low Volume Builder of the Year
- Vandemusser Design PLLC – Rater of the Year
- Enable America VetConnect, Eastern NC, to provide disabled veterans, wounded warriors and spouses with job-seeking training and support.
- Winston Salem Foundation – Project Impact, Forsyth County, to help accelerate the reading performance of at-risk first graders.
- NC Agricultural and Technical State University, Guilford County, to support the Helping Orient Minorities to Engineering (HOME) program that attracts and retains minority students in engineering and computer science.
- Richmond Community College Foundation, Richmond and Scotland County, to expand the curriculum for the Electric Utility Substation and Relay Technology program and help build a skilled workforce for the energy industry.
- Read and Feed, Wake County, to support a mobile, after-school literacy program for low-income elementary school children in Raleigh's highest needs communities.
- Set your AC to the highest comfortable setting. Every degree increase saves about 5 percent in cooling costs. Energy Star recommends a minimum set point of 78 degrees Fahrenheit.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Have your HVAC system checked by a qualified heating and air conditioning contractor to make sure it is operating efficiently. This will also help extend the life of the system.
- Don't cool an empty house. If you'll be out and about, adjust or program your thermostat to work around your schedule.
- Close the blinds. Shutting blinds, drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure the fans are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. Be sure to turn off lights when you leave a room. Lights emit heat and cause your air conditioning system to work harder.
- Replace incandescent bulbs with energy-efficient lighting options. LEDs use up to 90 percent less energy than traditional bulbs and last at least 15 times longer.
- Seal air leaks with caulking and weather stripping. And keep the door closed as much as you can to keep the cool air inside.
- Customers who have smart meters can monitor their hourly and daily energy usage online. This helps customers track their energy use and make adjustments in between billing cycles, to help them save energy and money. www.duke-energy.com/our-company/about-us/smart-grid/smart-meter
- Customers also receive high bill alerts if their bill is projected to be $30 AND 30 percent higher than usual. This projection is based upon historical usage and whether the temperatures are higher or lower than last month. The courtesy alerts are sent halfway through the normal billing cycle, allowing customers to have time to make energy-saving choices to help reduce their bill. In order to receive an alert, a customer should have a current email address on file and at least 12 months of usage history. www.duke-energy.com/home/billing/high-bill-alerts
- The Smart $aver® program offers incentives to help with the initial costs of making your home more energy efficient. www.duke-energy.com/home/products/smart-saver
- Home Energy House Call is a free in-home energy assessment designed to show you how your home uses energy, and how you can save on your monthly bill. https://www.duke-energy.com/home/products/home-energy-house-call
- Highly efficient natural gas power plants in Wilmington and Asheville that continue to reduce carbon emissions
- Four solar sites that provide emissions-free energy to Carolinas homes and businesses
- Costs since 2015 for compliance with federal and state regulations and safe closure of ash basins at eight sites in the Carolinas
- Recycling of nearly 2 million tons of coal ash from the Sutton Plant
- Hurricane Matthew (Oct. 8) and Tropical Storm Hermine (Sept. 2)
- Winter storms Jonas (Jan. 21) and Petros (Feb. 24) and an unnamed February ice storm (Feb. 15)
- Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need for at least two weeks, especially medicines and other supplies that might be hard to find after a storm strikes.
- Maintain a supply of water and non-perishable food.
- Ensure first-aid supplies and medicines are readily available.
- Review insurance policies, and include extra copies of the policies and other important documents in the emergency supply kit (ideally in a waterproof container).
- Keep a portable radio or TV, or NOAA weather radio on hand to monitor weather forecasts and official information.
- Maintain a plan to move family members – especially those with special needs – to a safe, alternate location in case an extended power outage occurs or evacuation is required. Pet owners can make arrangements to stay at evacuation shelters that accept pets, friends' or family members' homes, or pet-friendly hotels.
- Visiting www.duke-energy.com on a desktop computer or mobile device
- Texting OUT to 57801 (Standard text and data charges may apply)
- Calling the automated outage-reporting system at 800-769-3766 for Duke Energy Carolinas customers and 800-419-6356 for Duke Energy Progress customers.
- AIM: To support workforce training programs that help equip individuals with the necessary skills to earn a livable wage and develop self-sufficiency.
- Anderson Districts 1 & 2 Career and Technology Center: To support programs designed to educate students in robotics design, programming and use in industry.
- Chapman Cultural Center: To support a comprehensive educational program connecting professional artists and students and helping teachers better integrate the arts and STEM into their classrooms and after-school programs.
- Children's Museum of the Upstate: To create a mobile version of the museum, bringing engaging, hands-on, STEM programming wherever it is needed in the Upstate.
- Clemson University Women in Science/Programs for Educational Enrichment and Retention (PEER): To provide continued support to programs that provide camps for minority engineering majors, and to provide camps, encouragement and support to women pursuing careers in science and math.
- EdVenture: To support the creation of a STEM-focused exhibit at a satellite museum in Hartsville, S.C.
- Florence-Darlington Technical College: To provide under-served students an education that is highly valued by the medical community, one of the biggest employers in the Pee Dee region.
- Francis Marion University: To help provide a pipeline of teaching professionals in critical areas for the Pee Dee region of the state.
- Lancaster Literacy Council: To support education programs for adults seeking employment to strengthen their basic skills for employment, career advancement, and lifelong learning skills.
- Piedmont Technical College: To support programs that introduce manufacturing in a high school setting and encourage participants to pursue careers in the manufacturing sector through youth apprenticeship.
- Public Education Partners: To support expansion of an innovative program that provides a pathway into the teaching profession for people with bachelor's degrees in math and science.
- School District of Oconee County: To expand a district-wide initiative of accelerated professional development for the implementation of STEM curriculum.
- S.C. Governor's School for Science and Mathematics: To expand the successful virtual engineering program across the state and the summer camps that focus on STEM topics that prepare students for the program.
- South Carolina Independent Colleges and Universities: To provide scholarships for STEM majors at independent colleges and universities in Duke Energy service areas.
- Tri-County Technical College: To support a program designed to offer under-resourced adults the ability to earn college credit, national certifications and credentials leading to good jobs with a future in local manufacturing companies.
- United Way of Pickens County: To fully expand the successful "Camp iRock" summer literacy program countywide.
- Upcountry History Museum: To support hands-on discovery zones that will take visitors on a journey around the world as they explore faraway places and cultures through literature.
- Upstate Warrior Solution: To support workforce development for Upstate veterans by teaching them skills that will allow them to enter the civilian workforce at a livable wage.
- Youthlink: To support afterschool programs with an explicit goal to provide students with project-based STEM experiences for economically disadvantaged and underrepresented elementary and middle school students.
- Blue Ridge Resource Conservation and Development Council (N.C.)
- City of Asheville (N.C.)
- City of Eden (N.C.)
- City of Jacksonville (N.C.)
- Foothills Conservancy of North Carolina (N.C.)
- Pickens County (S.C.)
- Mountain Valleys Resource Conservation and Development (N.C.)
- Palmetto Conservation Foundation (S.C.)
- Rockingham County Historical Society Museum and Archives (N.C.)
- Spartanburg Area Conservancy (S.C.)
- The Nature Conservancy of South Carolina (S.C.)
- Trout Unlimited, Inc. (N.C.)
- University of North Carolina at Charlotte (N.C.)
- YMCA of Greenville (S.C.)
- Blue Ridge Resource Conservation and Development Council (N.C.) – $30,000 to improve an impacted subwatershed of the North Toe watershed by stabilizing and restoring a 1,000-foot section of Grassy Creek. The project will also continue development of the Overmountain Victory Trail.
- City of Asheville (N.C.) – $60,000 to improve water quality and engage the community through development of a riparian restoration plan along the east bank greenway and creation of educational interpretive signage.
- City of Eden (N.C.) – $100,000 to provide a walking trail next to an Eden waterway in the western section of the city.
- City of Jacksonville (N.C.) – $100,000 to revitalize Riverwalk Marina while also incorporating public access features by replacing old docks and piers and by constructing a boardwalk, on-the-water fishing, picnic and viewing areas, as well as a kayak and canoe launch for public use.
- Foothills Conservancy of North Carolina (N.C.) – $100,000 to match funds from the Catawba-Wateree Water Management Group to underwrite research. The results will be used to develop a watershed conservation strategy to protect water quality and availability in the Catawba-Wateree Basin.
- Mountain Valleys Resource Conservation and Development (N.C.) – $26,000 to improve water quality in the Ivy River Watershed, a water supply source, through partnership development, stakeholder engagement, education and outreach, and on the ground projects.
- Rockingham County Historical Society Museum and Archives (N.C.) – $61,500 to provide canoe/kayak access at High Rock Ford, the highest point of navigation on the Haw River, and add 4 river miles to the historic Haw River Paddle Trail and one-quarter mile to the historic Haw River Land Trail.
- Trout Unlimited, Inc. (N.C.) – $94,919 to complete aquatic organism passage restoration projects on strategic cold water streams for the long-term viability of brook trout and other aquatic species through the removal or replacement of culverts that block fish passage.
- University of North Carolina at Charlotte (N.C.) – $76,521 to establish a long-term Catawba Basin Upland Watershed Observatory that will document the impact of land use and invasive species on Catawba Watershed water quality and quantity in order to develop best conservation practices for uplands.
- Pickens County (S.C.) – $100,000 to support improvements to the Twelve Mile Recreation Area, located in a formerly distressed area of Pickens County, which will allow citizens access to fishing, hiking, picnic areas, whitewater and flatwater paddling while stimulating the economy and potentially creating new jobs.
- Palmetto Conservation Foundation (S.C.) – $100,000 to protect the natural environment by using best management practices and materials to construct the Dug Mountain Passage of the Palmetto Trail, which will provide public access to the lower Eastatoe Creek watershed in Jocassee Gorges.
- Spartanburg Area Conservancy (S.C.) – $75,000 to extend the Cottonwood South Trail approximately 2.5 miles along Lawson's Fork Creek, one of the main watersheds in Spartanburg, S.C. The project will connect to the existing Glendale Shoals Preserve, established by SPACE in 1994.
- The Nature Conservancy of South Carolina (S.C.) Mountain Bridge Wilderness Area Expansion – $100,000 toward the purchase of an iconic property in the South Carolina mountains. Once acquired, the Conservancy will transfer it to South Carolina State Parks.
- YMCA of Greenville (S.C.) Caine Halter Family YMCA Outdoor Classroom and Riparian Corridor Restoration – $80,075 to make updates to the Reedy River riverside, including creating an outdoor classroom and installing science stations that will become an environmental education resource for the Y's programs as well as other community partners.
- First quarter 2017 GAAP reported diluted earnings per share (EPS) was $1.02 compared to $1.01 in 2016; adjusted diluted EPS was $1.04 for the first quarter of 2017 compared to $1.13 for the first quarter of 2016
- Fundamentals of the business are strong despite warm winter weather in the first quarter
- Company remains on track to achieve its 2017 adjusted diluted earnings guidance range of $4.50 to $4.70 per share
- Lower O&M expenses (+$0.08 per share), due to reduced storm restoration costs compared to prior year and ongoing cost savings initiatives
- Higher retail revenues from increased pricing, riders and volumes (+$0.04 per share) driven by new rates in Duke Energy Progress South Carolina, base rate adjustments in Florida, and energy efficiency rider revenues at Duke Energy Carolinas
- Contribution from Piedmont Natural Gas (+$0.14 per share), which was acquired in October 2016, before debt financing costs that are included in Other, and share dilution
- Higher earnings from mid-stream pipeline investments (+$0.01 per share)
- Costs to achieve mergers represent charges resulting from potential or completed strategic acquisitions.
- Cost savings initiatives represents severance charges related to company-wide initiatives, excluding merger integration, to standardize processes and systems, leverage technology and workforce optimization.
- "Shareholder proposal regarding providing an annual report on Duke Energy's lobbying expenses."
- "Shareholder proposal regarding providing a report on the public health risk of Duke Energy's coal use."
- "Shareholder proposal regarding preparing an assessment of the impacts on Duke Energy's portfolio of climate change consistent with a two degree scenario."
- Duke Energy is on track to meet its goal of owning or having under contract 8,000 megawatts (MW) of wind, solar or biomass capacity by 2020. At the end of 2016, the company had 5,400 MW, which is 1,000 MW above last year's mark.
- Duke Energy remains on track as the price per kilowatt-hour of electricity remains lower than the national average in all six states the company serves retail electric customers.
- The company is on target to recycle 80 percent of its solid waste by 2018. Currently, 76 percent of the solid waste produced by Duke Energy is recycled.
- Duke Energy's remains an industry leader in employee safety, with the company's safety metrics continuing to improve.
- Additional bill-lowering tools designed to help customers reduce their energy costs
- An average of 13,900 jobs each year
- $10.4 billion in salaries and wages
- Almost $800 million in state taxes and $550 million in local taxes
- A total economic output of $21.5 billion over the 10 years
- Move targeted power lines underground to help reduce outages;
- enhance grid technologies to self-identify problems and reroute power, decreasing outage numbers and duration;
- advance smart metering infrastructure to enable more bill-lowering tools;
- protect against physical and cyber-security threats and keep the grid safe; and
- support the sustainable growth of renewable energy and emerging technologies.
- The thief becomes angry and tells the customer his or her account is past due and service will be disconnected if a large payment isn't made – usually in less than an hour.
- The thief instructs the customer to purchase a pre-paid debit or credit card – widely available at retail stores – then call him or her back to provide the card information to supposedly make a payment to Duke Energy. Some scammers may request a money wire or money order.
- The scammer asks the customer for the prepaid card's receipt number and PIN number, which grants instant access to the card's funds.
- Duke Energy never asks or requires a customer with a delinquent account to purchase a prepaid debit card to avoid disconnection.
- Customers have multiple payment options. They can make payments online, by phone, automatic bank draft, mail or in person.
- Customers with delinquent accounts receive an advance disconnection notification with the regular monthly billing – never a single notification one hour before disconnection.
- Customers who suspect or experience fraud, or feel threatened during contact with one of these thieves, should contact local authorities, and then the Duke Energy phone number listed on their bill.
- East Chapel Hill High School, Chapel Hill – Orange County
- Gaston Day School, Gastonia – Gaston County
- Hickory Ridge High School, Harrisburg – Cabarrus County
- Lower Creek Elementary School, Lenoir – Caldwell County
- Olympic High School, Charlotte – Mecklenburg County
- RS Central High School, Rutherfordton – Rutherford County
- South Stokes High School, Walnut Cove – Stokes County
- GAAP reported diluted earnings per share (EPS) were $3.11 in 2016, compared to $4.05 in 2015; adjusted diluted EPS was $4.69 for 2016 compared to $4.54 for 2015
- Company achieves the high end of its 2016 adjusted diluted EPS guidance range
- 2017 adjusted diluted EPS guidance range set at $4.50 to $4.70
- Five-year growth capital plan increased by approximately 25 percent to $37 billion
- Higher O&M expenses (-$0.08 per share), primarily due to higher planned spending
- Higher effective tax rate (-$0.06 per share) resulting from a prior year benefit
- Higher interest expense (-$0.03 per share) related to additional debt outstanding
- Higher depreciation and amortization (-$0.03 per share) from additional plant in service
- Favorable weather (+$0.03 per share), net of estimated volume impacts of Hurricane Matthew (-$0.02 cents per share)
- Higher AFUDC equity (+$0.02 per share) due to increased capital investments
- Contribution from Piedmont Natural Gas (+$0.10 per share), subsequent to the acquisition in October 2016 and before share dilution and debt financing costs which are included in Other
- Higher earnings from midstream pipeline investments (+$0.01 per share), primarily the Atlantic Coast Pipeline
- Costs to achieve mergers represent charges that result from potential or completed strategic acquisitions.
- Cost savings initiatives represents severance charges related to company-wide initiatives to standardize processes and systems, leverage technology and workforce optimization.
- Commercial Renewables Impairment and Asset impairment represent other-than-temporary impairments.
- Edwardsport Settlement and Ash Basin Settlement and Penalties represent charges related to Plea Agreements and settlement agreements with regulators and other governmental entities.
- $20,000 to the city of Lumberton's Disaster Relief Fund to assist those experiencing the greatest needs, including those displaced from their homes. Approximately 20 percent of Lumberton's residents were displaced.
- $20,000 to the Robeson County Disaster Relief Fund to assist a large portion of the remaining 600 families who lost their homes and possessions during the hurricane.
- $10,000 to the United Way of Robeson County Disaster Fund to expand support to individuals and families transitioning from temporary shelters and motels to permanent housing or moving back into their homes.
- The company will offer a $5,000 goodwill payment per property to support the transition to a new water supply.
- Duke Energy will provide all eligible residential property owners a property value protection plan. If a homeowner sells his or her property (or is under contract to sell) before Oct. 15, 2019, and does not receive fair market value, Duke Energy will cover the difference in price.
- In communities where a public water supply is available and selected, neighbors will receive a stipend to cover approximately 25 years of water bills. The payment will be based on water rates in their community and an average residential usage of 5,000 gallons a month. The stipends range from nearly $8,000 to $22,000, depending on the local water rate.
- Neighbors who select the sophisticated water treatment option will benefit from the value of the approximately $10,000 system, plus long-term maintenance paid by the company.
- We encourage customers to prepare by checking their supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc. Also, ensure a portable, battery-operated radio, TV or NOAA radio is on hand.
- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
- Stay away from power lines that have fallen or are sagging. Consider all lines energized as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy and your local police department.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- If you are driving and encounter emergency responders or other roadside work crews, remember to MOVE OVER, it's the law in North Carolina, but a good practice for all drivers.
- Text OUT to 57801 (standard text and data charges may apply)
- Call the automated outage-reporting system at 1-800-POWERON (1-800-769-3766) if you are a Duke Energy Carolinas customer and 1-800-419-6356 if you are a Duke Energy Progress customer.
- Report an outage or view current outages online at www.duke-energy.com/winterstorm
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- The thermostat can be the biggest contributor of high winter bills. Select the lowest comfortable setting on your thermostat when you're home, then lower the temperature a degree or two when you leave.
- Change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Inefficient heating can also add to monthly power bills during colder temperatures. Regular service calls from a licensed technician will help to properly maintain your heating and cooling system.
- The ceiling fan is a great way to enhance your home's warmth in the winter. Simply set the fans to operate in a clockwise direction, which pushes warm air back down into the room.
- On sunny days, leave your drapes or blinds open to allow the sun's rays to warm the house. Close your drapes at night to provide additional insulation for the windows.
- Wear warm clothing for additional energy savings at home. That way, you can bump down the thermostat a degree or two and still stay warm.
- Budget Billing gives customers better control over their energy spending by establishing predictable monthly payments.
- Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their heating bills.
- The company sends High Bill Alerts to customers when adverse weather may lead to a significant increase in energy costs.
- Seal leaks: Seal the air leaks around cut-throughs for pipes, gaps around chimneys and recessed lights in insulated ceilings, and unfinished spaces behind cupboards and closets; add caulk or weatherstripping to seal doors and windows.
- Maintain your heating system: Schedule service for your heating system and replace your furnace filter once a month or as needed.
- Insulate: Install the proper amount of insulation in exterior walls, roofs or ceilings, and floors above cold spaces. If you do not currently have insulation in one of these areas, installing insulation will cut your energy bills dramatically.
- Cover drafty windows: Use a heavy-duty, clear plastic sheet on a frame or tape clear plastic film to the inside of your window frames during the cold winter months. Make sure the plastic is sealed tightly to the frame to help reduce infiltration. Install tight-fitting, insulating drapes or shades on windows that feel drafty after weatherizing.
- Lower the thermostat: You can save as much as 10 percent a year on heating and cooling by simply turning your thermostat back 7 to 10 degrees from its normal setting for 8 hours a day. In the winter, set the thermostat to 68 while you're awake and set it lower while you're asleep or away from home.
- $618,000 to the Oconee County Conservation Bank to support regional land conservation and habitat preservation efforts.
- $762,000 to the Foothills Conservancy Program to administer the Keowee-Toxaway Habitat Enhancement Program (KTHEP). KTHEP funds support projects that create, enhance and protect fish and wildlife habitats along the shores of Lake Keowee and Lake Jocassee, as well as in their watersheds.
- If you have a programmable thermostat, use the "vacation" mode. If you have a manual unit, adjusting your thermostat just a few degrees cooler will have a significant impact. A change of just three degrees for 24 hours a day can save 30 percent on your heating costs. Also, set the fan to "auto," not "on." Leaving the fan on all the time costs up to $25 a month. If the forecast is for mild weather, consider turning the system off completely.
- Turn off your electric water heater at your breaker if you plan to leave home for a few days. Most models will reheat the water to the set temperature in about an hour. A large amount of the cost of running a water heater is due to the "standby" losses. Water heaters are among the top three energy using appliances in your home.
- Most of us empty our refrigerators before heading out of town, but did you know a fully stocked refrigerator keeps cold better than an empty one? Keep the fridge and freezer full and tightly packed, and the cold items will keep one another cold. It doesn't even have to be food; you can use water containers or ice trays. Conserve even more energy by adjusting the thermostats on your refrigerator and freezer to higher settings; 38°F for the refrigerator and 5°F for the freezer. For trips lasting four weeks or more, consider emptying your refrigerator completely and unplugging it.
- Unplug small electrical equipment such as radios, DVD players or TVs when not in use. Electronic appliances can act like energy vampires, sucking power even when they are not in use. This is called phantom loads. Your coffee maker, cable box, game console, laptop computer and even your rechargeable toothbrushes are a few examples of these phantom power users. Use the Duke Energy energy slayer calculator to see how much you can save (www.duke-energy.com/energyvampire) by pulling the plug before you head out of town.
- Make sure fans and lights are turned off. For security lights, consider using a timer. And, switch bulbs to LEDs or CFLs to save even more.
- City of Greensboro, Parks and Recreation (N.C.)
- Land of Sky Regional Council (N.C.)
- North Carolina Museum of Art Foundation (N.C.)
- North Carolina Wildlife Federation (N.C.)
- Southwestern North Carolina Resource Conservation and Development Council (N.C.)
- Surry County Parks and Recreation (N.C.)
- Town of Elizabethtown (N.C.)
- University of North Carolina at Chapel Hill (N.C.)
- University of North Carolina at Greensboro (N.C.)
- Water Watch of Lake Wateree Association (S.C.)
- Pee Dee Land Trust (S.C.)
- Town of Halifax (Va.)
- City of Greensboro, Parks and Recreation: Increased Americans with Disabilities (ADA) access at Lake Higgins – $37,965 to provide access to outdoor recreation at Lake Higgins to individuals of all abilities. The project will entail providing an ADA-accessible kayak/canoe launch, sidewalks and parking.
"At Greensboro Parks and Recreation, everything we do is about building better lives to build a better community," said Wade Walcutt, Greensboro Parks and Recreation director. "The partnership and grant with the Duke Energy Water Resources Fund allows us do just that, by making Lake Higgins more accessible to residents of all abilities. We're grateful to the foundation for helping us improve our residents' health and wellness, as well as their quality of life." - Land of Sky Regional Council: Water conservation along the Neuse and Haw River basins – $34,500 to conduct 22 water efficiency assessments for organizations with the highest water use in the industrial, commercial and institutional sectors in Chatham, Durham, Orange and Wake counties, where the Haw and Neuse watersheds are located. This project will help reduce overall demand for water by the largest consumers and extend public water supply capacity in the region.
- North Carolina Museum of Art Foundation: Upper tributary and forest improvement – $92,000 to improve the headwaters of the tributary to House Creek in the Ann and Jim Goodnight Museum Park in Wake County in an effort to reduce sediment and nutrient runoff in the Neuse River Basin. A new trail and signage will also provide visitors with an enhanced experience in nature.
- North Carolina Wildlife Federation: Little Tennessee Native Fish Conservation Area partnership – $85,000 to develop educational videos to inform and engage citizens, and an interactive web-based map to guide conservation efforts within the nation's first native fish conservation area along the Little Tennessee River system. NFCA is a new watershed-scale, nonregulatory approach to long-term conservation and restoration of native fish. The project will benefit several counties, including Macon, Clay, Jackson, Swain, Cherokee and Graham in North Carolina.
- Southwestern North Carolina Resource Conservation and Development Council: Implementing stormwater retrofits in Maggie Valley in Haywood County – $71,000 to restore 200 feet of stream bank, install a fire truck washing pad and bio-filter, and implement stormwater best management practices with stream access points. These activities will improve water quality and help maintain the stream at a trout standard.
- Surry County Parks and Recreation: Highway 268 fishing and canoeing access – $72,712 to build one of 13 needed river accesses in Surry County to give greater public access to waterways. Plans include adding educational signs and parking facilities along with a water-access point.
- Town of Elizabethtown: Tory Hole Park improvements in Bladen County – $100,000 to construct a river boardwalk, provide ADA access in restroom facilities and install recreational facilities that minimize environmental impacts, such as swings along the boardwalk. This project will create greater access for residents and visitors to the park and improve awareness of its natural resources.
- University of North Carolina at Chapel Hill: Water quality monitoring system for Albemarle-Pamlico Sound estuarine system – $95,000 to construct two portable, ferry-based water quality monitoring systems for ongoing assessments of water quality along the Neuse River and Pamlico Sound ferry routes. Data will be shared with citizens, policymakers and other stakeholders to raise awareness of environmental quality in the Albemarle-Pamlico Sound estuarine system, the second-largest estuary in the nation. The project is part of UNC's Institute of Marine Sciences' ferry monitoring program, FerryMon.
- University of North Carolina at Greensboro: UNCG wetlands development – $46,112 to construct two wetlands on the UNCG campus to improve water quality and increase education, community outreach, research and campus beautification. Additionally, wetland maintenance will be integrated into UNCG's STEM curriculum.
- Pee Dee Land Trust: Black Creek Conservation Strategy – $35,000 to initiate a long-term process for strategic conservation of high-priority lands along Black Creek in Darlington County. PDLT will prioritize streamside lands, educate landowners about conservation options and complete two conservation easement projects.
"The Black Creek watershed is where we got our start as an organization 17 years ago, and the people who live near this stream form the heart of our conservation community," said David Harper, Pee Dee Land Trust executive director. "The Water Resources Fund grant is right in line with our strategic conservation work – it allows us to take a closer look at streamfront properties that provide the greatest water quality and quantity benefits to the creek. We can then work with those landowners to develop plans that meet their financial and family goals while keeping the land in its natural condition, for this and future generations." - Water Watch of Lake Wateree Association: Water quality program for Lake Wateree – $20,500 to identify and track algae growth on Lake Wateree. Through frequent water, algae and shoreline analysis, the project will identify causes and solutions. Community outreach is an important aspect of this project, aimed at seeking support for steps to reduce algae presence and growth.
- Town of Halifax: Banister River Blueway Project, Banister Lake Boat Landing and King's Bridge Landing – $88,090 to complete two river access facilities: upgrading the boat ramp at Banister Lake with a kayak/canoe hand launch and other improvements, and completing the Banister River Gateway Project to include interpretive panels at King's Bridge Landing. The project will encourage the protection of natural resources, including water quality and wildlife habitat, and help market outdoor recreation and natural heritage experiences.
- Offering eligible property owners a connection to a public water supply and/or installation of whole-home water filter systems. Neighbors also will be given the opportunity to opt out completely.
- A preference to offer a connection to public water lines, where extending lines is cost-effective and water quality can be assured.
- Providing long-term maintenance to residents who select a filter system.
- Allen Steam Station (Belmont, N.C.)
- Buck Steam Station (Salisbury, N.C.)
- Cape Fear Plant (Moncure, N.C.)
- H.F. Lee Plant (Goldsboro, N.C.)
- Marshall Steam Station (Terrell, N.C.)
- Rogers Energy Complex (Mooresboro, N.C.)
- Weatherspoon Plant (Lumberton, N.C.)
- Belews Creek Steam Station (Belews Creek, N.C.)
- Mayo Plant (Roxboro, N.C.)
- Roxboro Plant (Semora, N.C.)
- A decrease in the prior period true-up of fuel costs, as compared to the prior period true-up included in the current bill
- Total fuel costs are declining due to a drop in commodity prices
- The thermostat can be the biggest contributor of high winter bills. Select the lowest comfortable setting on your thermostat when you're home, then lower the temperature a degree or two when you leave.
- Change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Inefficient heating can also add to monthly power bills during colder temperatures. Regular service calls from a licensed technician will help to properly maintain your heating and cooling system.
- The ceiling fan is a great way to stay cool in the summer and warm in the winter. Simply set the fans to operate in a clockwise direction, which pushes warm air back down into the room.
- On sunny days, leave your drapes or blinds open to allow the sun's rays to warm the house.
- Wear warm clothing for additional energy savings at home. If you're planning a holiday party this season, consider an ugly sweater theme. That way, you can bump down the thermostat a degree or two while your guests stay toasty and warm.
- Before installing lights, check each set – new and old – for damaged sockets, loose connections and frayed or bare wires. Discard damaged sets or repair them before using.
- Never use more than three standard-sized sets of lights per extension cord.
- Plug exterior lights into ground-fault interruptible (GFI) outlets only. If the home lacks outside GFI outlets, call an electrician to install them.
- Before climbing a ladder, inspect it to ensure it's in good working condition and follow the weight limits specified on the ladder and manufacturer instructions.
- Never use a ladder on or near power lines.
- The thief becomes angry and tells the customer his or her account is past due and service will be disconnected if a large payment isn't made – usually in less than an hour.
- The thief instructs the customer to purchase a pre-paid debit or credit card – widely available at retail stores – then call him or her back to provide the card information to supposedly make a payment to Duke Energy. Some scammers may request a money wire or money order.
- The scammer asks the customer for the prepaid card's receipt number and PIN number, which grants instant access to the card's funds.
- Duke Energy never asks or requires a customer with a delinquent account to purchase a prepaid debit card to avoid disconnection.
- Customers can make payments online, by phone, automatic bank draft, mail or in person.
- Customers with delinquent accounts receive an advance disconnection notification with the regular monthly billing – never a single notification one hour before disconnection.
- If you suspect someone is trying to scam you, hang up and call the local police then Duke Energy. Never dial the phone number the scammers provide.
- Cape Fear Plant – Moncure, N.C.
- Cliffside Station Units 1-4 – Mooresboro, N.C.
- Dan River Steam Station – Eden, N.C.
- H.F. Lee Plant – Goldsboro, N.C.
- Robinson Plant – Hartsville, S.C.
- Sutton Plant – Wilmington, N.C.
- Weatherspoon Plant – Lumberton, N.C.
- Westwood Community Urban Redevelopment Corp.
$45,000 for West Side Brewery development in Westwood - Downtown Middletown Inc.
$20,000 for Torchlight Pass in Middletown - Hamilton County Business Center
$20,000 for small business coaching in Silverton - College Hill Community Urban Redevelopment Corp.
$14,000 for National City Bank renovations in College Hill - Madisonville Community Urban Redevelopment Corp.
$5,500 for historic Metz building renovation in Madisonville - The Catalytic Fund
$40,000 for Marianne Theatre redevelopment in Bellevue - Center for Great Neighborhoods
$30,000 for Homes for Makers in Covington - The Catalytic Fund
$25,000 for Holzhauser Drug Store rehab in Newport - The Catalytic Fund
$20,000 for 801 Madison Avenue in Covington - The Catalytic Fund
$20,000 for Second Sight Spirits in Ludlow - Third quarter 2016 GAAP reported diluted earnings per share (EPS) were $1.70 compared to $1.35 for the third quarter of 2015
- Adjusted diluted EPS of $1.68 for third quarter 2016, compared to $1.47 for the third quarter of 2015
- Company trending toward the high end of its original 2016 adjusted diluted earnings guidance range of $4.50 to $4.70 per share, excluding costs associated with Hurricane Matthew
- Favorable weather (+$0.14 per share) driven by warmer temperatures across all Duke Energy service territories
- Lower effective tax rate (+$0.08 per share) due to prior year income tax adjustments
- Higher rider revenues (+$0.05 per share) primarily related to energy efficiency and grid investment riders at Duke Energy Progress and Duke Energy Ohio, respectively
- Increased weather-normal retail customer volumes (+$0.04 per share)
- Lower O&M expenses (+$0.02 per share), primarily as a result of ongoing cost savings initiatives, despite higher storm costs (-$0.02 per share)
- Costs to achieve mergers and International impairment represent charges that result from potential or completed strategic acquisitions and divestitures that do not reflect ongoing costs.
- Cost savings initiatives represents severance charges related to company-wide initiatives to standardize processes and systems, leverage technology and workforce optimization, which are not representative of ongoing costs.
- Commercial Renewables Impairment represents an other-than-temporary impairment of certain equity method investments. Management believes the impairment does not reflect an ongoing cost.
- Edwardsport settlement and Ash basin settlement represent charges related to settlement agreements with regulators and other governmental entities and do not represent ongoing costs.
- Midwest generation operations represents the operating results of the nonregulated Midwest generation business and Duke Energy Retail Sales (collectively, the Midwest Generation Disposal Group), which have been classified as discontinued operations. Management believes inclusion of the Midwest Generation Disposal Group's operating results within adjusted earnings and adjusted diluted EPS results in a better reflection of Duke Energy's financial performance during the period.
- The N.C. Department of Environmental Quality conducted background testing in August 2015 that identified hexavalent chromium in a number of private wells that were not near ash basins. Subsequent testing in other areas, such as Chatham, Jackson and Lee counties, also showed similar results.
- Dr. Kenneth Rudo noted in recent testimony that the state health agency issued 50 to 70 health risk evaluations for hexavalent chromium in North Carolina wells not near ash basins.
- A 2004 Water Research Foundation-funded study investigated drinking water sources across the nation. In groundwater sources, a significant percentage of the chromium present was hexavalent chromium (Frey 2004).
- Comprehensive groundwater studies of Duke Energy ash basins found the concentrations of hexavalent chromium in ash basin water are low and are not consistent with the higher levels observed in neighbors' wells. Similarly, ash basins are relatively shallow, and the concentrations of hexavalent chromium are typically higher the deeper you sample into bedrock. This suggests the source is natural geology.
- Purchased power proposals;
- engineer, procurement and construction turnkey proposals in which Duke Energy takes ownership of the new facility; or
- project development proposals that are in the late stages of development where Duke Energy would take ownership and build the new facility.
- Do not attempt to disconnect or work on or around your natural gas meter
- Do not attempt to relight any of your natural gas appliances. Call Piedmont at 1.800.752.7504 so we can inspect your meter and your natural gas appliances for possible damage
- Do not attempt to clear flood debris from your natural gas meter or from any other natural gas appliance, including your water heater. Call Piedmont for an assessment
- Never use outdoor equipment indoors for cooking or heating. This includes natural gas grills, generators, etc.
- Natural gas appliances damaged by water may need to be replaced according to manufacturer guidelines and instructions
- When choosing a contractor for repair or replacement of your natural gas appliances, make sure the contractor is licensed, committed to safety and follows all manufacturer safety guidelines
- You can choose to work with Piedmont Natural Gas, one of our approved Gas Advantage Dealers, or any other licensed contractor to repair or replace damaged appliances
- For a list of Piedmont's Gas Advantage Dealers, go to www.piedmontng.com
- Note that unauthorized repairs can be unsafe and may void your warranty according to manufacturer guidelines
- Call your appliance manufacturer if you are unsure that the work being performed is an approved repair
- Leave the area immediately
- After leaving the area, call Piedmont at1.800.752.7504 or call 911
- Call from a neighbor's house or from another location far from the smell of natural gas
- DO NOT use anything electrical that may create a spark; this includes cell phones
- DO NOT operate any light switches
- DO NOT light a match
- DO NOT attempt to locate the source of a leak
- DO NOT attempt to stop a leak
- DO NOT return to the area until Piedmont Natural Gas or the emergency services have declared the area safe
- DO NOT attempt to operate pipeline valves yourself. You may inadvertently cause more danger or additional damage
- DO NOT attempt to extinguish a natural gas fire
- Anyone encountering electrical equipment after a storm, whether it is a downed power line, a substation or a solar site, should take extreme caution and assume that the equipment is energized -- especially do not go near electrical equipment when it is immersed in standing water.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged or flooded areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Anyone encountering electrical equipment after a storm, whether it is a downed power line, a substation or a solar site, should take extreme caution and assume that the equipment is energized -- especially do not go near electrical equipment when it is immersed in standing water.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged or flooded areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Duke Energy Carolinas – 800.769.3766
- Duke Energy Progress – 800.419.6356
- Do not attempt to reconnect your own power. That work is hazardous and should be completed by trained and qualified professionals.
- Our employees are trained to be vigilant and constantly aware of their surroundings.
- If, at any time, our crews believe they are in an unsafe situation, they will postpone the work until the area is safe and secure.
- Anyone encountering electrical equipment after a storm, whether it is a downed power line, a substation or a solar site, should take extreme caution and assume that the equipment is energized -- especially do not go near electrical equipment when it is immersed in standing water.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available.
- Facebook -- www.facebook.com/dukeenergy
- Twitter – https://twitter.com/DukeEnergy
- Nearly 60 transmission lines were knocked out of commission (32 restored)
- More than 115 substations were inoperable due to damage or flood waters (98 restored; many of the remaining ones are submerged)
- Duke Energy Carolinas – 800.769.3766
- Duke Energy Progress – 800.419.6356
- Our employees are trained to be vigilant and constantly aware of their surroundings.
- If, at any time, our crews believe they are in an unsafe situation, they will postpone the work until the area is safe and secure.
- We will continue to monitor this evolving situation with our focus on the safety of our customers and employees.
- Anyone encountering electrical equipment after a storm, whether it is a downed power line, a substation or a solar site, take extreme caution and assume that the equipment is energized -- especially do not go near electrical equipment when it is immersed in standing water. Please report downed power lines to Duke Energy or your local power provider.
- If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available
- Facebook -- www.facebook.com/dukeenergy
- Twitter – https://twitter.com/DukeEnergy
- More than 800 broken poles and miles of downed lines -- and still counting.
- More than 100 substations (the main electrical locations where electricity is received from power plants and then distributed to large portions of communities were down at the height of the storm; crews restored 64, but more than 50 remain out.)
- And repairs are being hampered by downed trees, flooded or damaged roads
- In some Duke Energy service areas, the electrical system will need to be rebuilt.
- Duke Energy Carolinas – 800.769.3766
- Duke Energy Progress – 800.419.6356
- Our employees are trained to be vigilant and constantly aware of their surroundings.
- If, at any time, our crews believe they are in an unsafe situation, they will postpone the work until the area is safe and secure.
- We will continue to monitor this evolving situation with our focus on the safety of our customers and employees.
- Anyone encountering electrical equipment after a storm, whether it is a downed power line, a substation or a solar site, take extreme caution and assume that the equipment is energized -- especially do not go near electrical equipment when it is immersed in standing water. Please report downed power lines to Duke Energy or your local power provider.
- If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available
- Facebook -- www.facebook.com/dukeenergy
- Twitter – https://twitter.com/DukeEnergy
- Contacted the Southeastern Electric Exchange and other utilities and related services to bring in roughly 6,000 additional personnel
- Set up three "base camps" – tent cities where crews will eat, sleep, obtain their assignments and restock their vehicles
- Duke Energy Carolinas – 800.769.3766
- Duke Energy Progress – 800.419.6356
- Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy or your local power provider.
- If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available
- Facebook -- www.facebook.com/dukeenergy
- Twitter – https://twitter.com/DukeEnergy
- Contacted the Southeastern Electric Exchange and other utilities and related services to bring in roughly 6,000 additional personnel
- Initiated six aerial patrols to assess damage and help develop restoration strategies
- Set up three "base camps" – tent cities where crews will eat, sleep, obtain their assignments and restock their vehicles
- Duke Energy Carolinas – 800.769.3766
- Duke Energy Progress – 800.419.6356
- Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy or your local power provider.
- If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available
- Facebook -- www.facebook.com/duke.energy/
- Twitter -- twitter.com/dukeenergy
- Going online at duke-energy.com or by visiting our mobile website at m.duke-energy.com
- Texting OUT to 57801 (Standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Duke Energy Carolinas – 800.769.3766
- Duke Energy Progress – 800.419.6356
- Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy or your local power provider.
- If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
- Power lines can be hidden by debris and standing water so please be extremely careful moving around in damaged areas.
- "Move Over and Slow Down" Law: The "move over" law requires drivers to move over one lane when two or more lanes are available in each direction to make way for emergency responders, tow trucks, DOT incident management assistance patrols and roadside work crews, such as utility crews. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
- Consider all downed lines energized and stay safely away. Use caution when walking outside as storm debris or standing water could conceal downed lines.
- Charge cell phones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information.
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available
- Facebook -- www.facebook.com/duke.energy/
- Twitter -- twitter.com/dukeenergy
- Going online at duke-energy.com or by visiting our mobile website at m.duke-energy.com
- Texting OUT to 57801 (Standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
- Consider all downed lines energized and stay safely away. Use caution when walking outside as storm debris or standing water could conceal downed lines.
- Charge cell phones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information.
- Duke Energy Carolinas – 800-769-3766
- Duke Energy Progress – 800-419-6356
- Online -- www.duke-energy.com/matthew. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available
- Facebook -- www.facebook.com/duke.energy/
- Twitter -- twitter.com/dukeenergy
- Customers in communities where the storm is expected to hit need to finalize plans now to stay safe. If you lose power, response crews will begin work AFTER the storm has exited the area and winds have subsided.
- Emergency kits should include:
- Flashlights with extra batteries
- Portable radio with fresh batteries
- First-aid kit
- Canned or packaged food that can be prepared without cooking or refrigeration
- Several days' supply of drinking water
- Portable (and fully charged) cell phone charger
- Prescription medication
- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
- For employee safety, Duke Energy line technicians do not perform elevated work in bucket trucks when winds are above 30 miles per hour.
- Charge cell phones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information.
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Fill your vehicle with gas and get cash as gas pumps, ATMs and credit card machines may not work if there are extensive outages.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Do not bring a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies, and determine now what action they would take in the event of an extended power outage.
- For a "Hurricane Kit Checklist," important safety tips and more information on what to do before, during and after a storm, visit www.duke-energy.com/storm, then click "Outage & Storm Information" under Duke Energy Florida.
- Going online at duke-energy.com or by visiting our mobile website at m.duke-energy.com
- Texting OUT to 57801 (Standard text and data charges may apply)
- Calling the automated outage-reporting system at 800.228.8485
- Flashlights with extra batteries
- Portable radio with fresh batteries
- First-aid kit
- Canned or packaged food that can be prepared without cooking or refrigeration
- Several days' supply of drinking water
- Portable (and fully charged) cell phone charger
- Prescription medication
- Flashlights with extra batteries
- Portable radio with fresh batteries
- First-aid kit
- Canned or packaged food that can be prepared without cooking or refrigeration
- Several days' supply of drinking water
- Portable (and fully charged) cell phone charger
- Prescription medication
- Duke Energy Carolinas – 800-769-3766
- Duke Energy Progress – 800-419-6356
- Online - www.duke-energy.com/outages. Customers can access outage maps and other information online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available:
- Facebook -- www.facebook.com/duke.energy/
- Twitter -- twitter.com/dukeenergy
- To ensure Piedmont's North Carolina natural gas customers receive a benefit from the projected transaction-related cost savings, their bills collectively will decrease by approximately $10 million by Dec. 31, 2016. Piedmont's South Carolina natural gas customer bills collectively will decrease by approximately $1.1 million.
- The combined company has committed to make annual charitable and community support contributions of at least $17.5 million in North Carolina in 2017-2020. In South Carolina, committed annual contributions during the four-year period are expected to total $3.55 million.
- The combined company has committed to provide $7.5 million to low-income household energy assistance and community workforce development programs in North Carolina, and $1.6 million in South Carolina, during the first year after the acquisition.
- North Carolina and South Carolina retail and wholesale customers are expected to receive a proportional share of the anticipated $35 million in fuel-related savings (approximately $22.8 million for North Carolina customers, $6.7 million for South Carolina customers and $5.5 million for wholesale customers). This is in addition to the $687 million in savings already guaranteed in connection with Duke Energy's 2012 merger with Progress Energy.
- Public school teachers can submit proposals for projects related to literacy or science, technology, engineering and math (STEM) for up to $500 to DonorsChoose.org, where the public can provide funding.
- The Duke Energy Foundation will match, dollar-for-dollar, all donations made toward eligible STEM and literacy projects at public schools in the company's South Carolina service area, up to $250 per project. That means the $200,000 matching gift will truly have a $400,000 impact on students in the state.
- Public school teachers can submit STEM project proposals (up to $2,000 per project) on DonorsChoose.org.
- Anyone can visit DonorsChoose.org, browse eligible projects and make a donation.
- Duke Energy will match donations, dollar-for-dollar, up to $200,000.
- Once a project is fully-funded, DonorsChoose.org buys the project materials and ships them directly to the teacher's school.
- Since 2005, Duke Energy's U.S. carbon dioxide (CO2) emissions decreased by 28 percent, sulfur dioxide (SO2) emissions decreased by 90 percent and nitrogen oxides (NOx) emissions decreased by 68 percent.
- In 2015, Duke Energy brought more than 10 solar projects on line, totaling about 300 megawatts (MW) of capacity, and added 400 MW to its wind portfolio.
- Customers continue to benefit from rates below the national average in all customer classes and all service areas.
- One of Duke Energy's residential energy efficiency programs reached a milestone – over the past six years, customers have saved 1 terawatt-hour of energy with our Home Energy Report. That's enough to power 70,000 homes for a year.
- The company has substantially improved our performance in safety measures, including decreasing its Total Incident Case Rate (TICR) by about 30 percent in 2015 vs. 2014.
- Duke Energy's total charity giving in 2015 was $48.6 million.
- Working with states and local authorities, Duke Energy helped attract $3.5 billion in total capital investment, and more than 12,000 jobs in 2015.
- Hancock County Solar Farm in Sparta, Ga.: 1 MW direct current (DC) / 769 kW AC
- Johnson County Solar Farm in Wrightsville, Ga.: 1 MW DC / 769 kW AC
- Ware County Solar Farm in Waycross, Ga.: 1 MW DC / 769 kW AC
- Wilcox County Solar Farm in Abbeville, Ga.: 1 MW DC / 769 kW AC
- Decatur County Solar Farm I In Bainbridge, Ga.: 1 MW DC / 769 kW AC
- Decatur County Solar Farm II In Bainbridge, Ga.: 1.1 MW DC / 834 kW AC
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- We encourage customers to be prepared by checking their supply of flashlights, batteries, bottled water, non-perishable foods, medicines, etc. Also, ensure a portable, battery-operated radio, TV or NOAA radio is on hand.
- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
- As severe weather moves through the area, be watchful for downed or sagging power lines. Consider all lines energized as well as trees, limbs or anything in contact with lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground. Video: https://www.youtube.com/watch?v=iUxWaWti7P0
- The heavy rains in our service area will make roads treacherous and visibility poor. If possible, avoid unnecessary travel on rain-soaked roads, as cars hitting utility poles can be a significant cause of power outages during severe weather.
- Utility crews will also be hard to see in rainy conditions. If you see utility crews working along the road, move over or slow down. Help keep them safe so they can help restore service to our customers.
- If rising water threatens your home — or if you evacuate your home — turn off your power at the circuit breaker panel or fuse box.
- Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over — and don't stand near — downed power lines.
- Downed lines will be hard to see in the rain and can potentially be hidden in standing water. If you encounter large pools of standing water, stop, back up and choose another path.
- If your home or business is flooded, Duke Energy can't reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make repairs and obtain verification from your local building inspection authority before power can be restored.
- Call 800.769.3766 (800-PowerOn)
- Text OUT to 57801 (standard text and data charges may apply).
- Visit www.duke-energy.com/hermine.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Flashlights with extra batteries
- Portable radio with fresh batteries
- First-aid kit
- Canned or packaged food that can be prepared without cooking or refrigeration
- Several days' supply of drinking water.
- Portable (and fully charged) cell phone charger
- Prescription medication
- Duke Energy Carolinas – 800-769-3766
- Duke Energy Progress – 800-419-6356
- Facebook – www.facebook.com/duke.energy/
- Twitter – twitter.com/dukeenergy
- Flashlights with extra batteries
- Portable radio with fresh batteries
- First-aid kit
- Canned or packaged food that can be prepared without cooking or refrigeration
- Several days' supply of drinking water.
- Portable (and fully charged) cell phone charger
- Prescription medication
- Duke Energy Carolinas – 800-769-3766
- Duke Energy Progress – 800-419-6356
- Florida – 800-228-8485
- Ohio and Kentucky – 800-543-5599
- Indiana – 800-343-3525
- Facebook – www.facebook.com/duke.energy/
- Twitter – twitter.com/dukeenergy
- Duke Energy – www.duke-energy.com/safety/
- Ready.Gov – www.ready.gov/september
- American Red Cross – www.redcross.org/get-help/prepare-for-emergencies/be-red-cross-ready
- Second quarter 2016 GAAP reported diluted EPS was $0.74 compared to $0.78 for the second quarter of 2015
- Adjusted diluted EPS of $1.07 for second quarter 2016, compared to $0.95 for the second quarter of 2015
- Company remains on track to achieve its 2016 adjusted diluted earnings guidance range of $4.50 to $4.70 per share
- Higher pricing and riders (+$0.08 per share)
- Lower O&M expenses (+$0.05 per share), primarily as a result of favorable outage costs and cost savings initiatives
- Increased wholesale net margins (+$0.03 per share), primarily due to the long-term wholesale contract associated with the NCEMPA purchase in the prior year
- Less favorable weather (-$0.04 per share)
- Higher pricing and riders (+$0.15 per share)
- Increased wholesale net margins (+$0.05 per share) primarily due to the long-term wholesale contract associated with the NCEMPA acquisition in the prior year
- Lower O&M expense (+$0.03 per share) as a result of favorable outage costs and cost savings initiatives, despite higher storm costs (-$0.06 per share)
- Lower effective tax rate (+$0.03 per share)
- Less favorable weather (-$0.14 per share)
- Higher depreciation and amortization expense (-$0.06 per share) primarily resulting from additional plant in-service
- Higher non-income taxes (-$0.04 per share) primarily due to increased property taxes
- Costs to achieve mergers and International impairment represent charges that result from potential or completed strategic acquisitions and divestitures that do not reflect ongoing costs of the business.
- Costs savings initiatives represent restructuring charges incurred to reduce future expenses and do not represent ongoing costs.
- Midwest generation operations represents the operating results of the nonregulated Midwest generation business and Duke Energy Retail Sales (collectively, the Disposal Group), which have been classified as discontinued operations. Management believes inclusion of the Disposal Group's operating results within adjusted earnings and adjusted diluted EPS results in a better reflection of Duke Energy's financial performance during the period.
- Sweetwater Windpower Project, Nolan County, 283 MW (of 585 MW total)
- Ocotillo Windpower Project, Howard County, 59 MW
- Notrees Windpower Project, Ector & Winkler Counties, 153 MW
- Blue Wing Solar Power Project, San Antonio,14 MW
- Notrees Battery Storage Project, Winkler County, 36 MW
- Los Vientos I Windpower Project, Willacy County, 200 MW
- Los Vientos II Windpower Project, Willacy County, 202 MW
- Los Vientos III Windpower Project, Starr County, 200 MW
- Mesquite Creek Windpower Project, Borden & Dawson Counties, 106 MW
- Los Vientos IV Windpower Project, Starr County, 200 MW
- Los Vientos V Windpower Project Starr County, 110 MW
- Say Yes to Education Guilford, Guilford County, to support rigorous education activity within the Guilford County Schools' system and provide tutoring, mentoring, health and social services, after school programming and other services for families and students.
- Buncombe County Schools, Buncombe County, to establish STEM labs in several primary, elementary and intermediate schools.
- Masonboro.org, New Hanover County, to provide hands-on environmental education to fifth grade students in New Hanover County.
- NC FIRST Robotics, statewide, to engage underserved students in robotics competitions by working with adult mentors and coaches.
- Boys and Girls Clubs of Wake County, to support Project Learn, which reinforces knowledge and skills learned at school through homework help and learning activities.
- International House, Charlotte, to fund early childhood literacy programming for students from kindergarten through third grade.
- Chill out and grill out. Cooking out is not only delicious, it's also smart. You won't heat up your kitchen, forcing your air conditioning to work harder and use more energy.
- Give your fridge the day off. Keep drinks in coolers or ice chests so your fridge isn't constantly opened and closed.
- Don't cool an empty house. If you'll be out and about, program your thermostat to work around your schedule for additional savings.
- Pane relief. Close your curtains and shades before you leave home to keep the sun's rays from heating up the place. You can even move potted trees and plants in front of sun-exposed windows to act as shade.
- Huddled masses. Did you know a fully-stocked refrigerator keeps cold better than an empty one? Keep the fridge and freezer full and tightly packed, and the cold items will keep one another cold. It doesn't even have to be food; you can use water container or ice trays.
- Easy as pie. When you're baking your apple pie, resist that temptation to keep opening the oven door. Every time you open the door to take a peek, the temperature drops 25-30 degrees. That is a lot of wasted energy.
- Cooling Assistance Program -- Assists the handicapped, elderly and/or low income families with energy costs associated with the extreme summer temperatures. Learn more: www.duke-energy.com/community/programs/cooling-assistance.asp
- Helping Home Fund -- Offers free assistance for income-qualified customers in North Carolina to make their homes more energy efficient. Customers receive a complete home energy assessment and assistance to help save on energy bills. duke-energy.com/helpinghomefund
- Equal Payment Plan (EPP) -- A free service that makes managing your cash flow easier by providing predictable monthly payments. duke-energy.com/north-carolina/billing/equal-payment.asp
- Improved energy reliability and safety from updating and replacing aging energy grid infrastructure, including substations, utility poles, power lines and transformers.
- Fewer and shorter power outages where "self-healing" systems are installed. Today, when a tree or other object comes in contact with a power line causing an outage, every customer served by that line — and other lines connected to it — loses power. With self-healing technology, the company can automatically detect the problem, isolate it and reroute energy — so fewer customers are affected while repairs are made.
- Improved information for consumers. Equipment such as line sensors will enable the company to provide customers more information about power outages affecting them and estimated restoration times. In some cases, the equipment can reduce the need to dispatch field personnel to find an outage's location, which speeds power restoration.
- Energy savings from technology that optimizes voltage and reduces overall power consumption by about 1 percent on upgraded power lines.
- If the company pursues smart meters, as part of the settlement, it committed to exploring energy efficiency pilot programs that are now possible with smart meter technology.
- Visiting Duke-Energy.com/storm via computer, tablet or smartphone
- Calling the automated outage-reporting system at 800.343.3525 (Indiana) or 800.543.5599 (Kentucky and Ohio)
- Total fuel costs projected for the upcoming year are declining due to a drop in commodity prices.
- In addition, a decrease in the prior period true-up of fuel costs is included in the proposed fuel rate.
- Fuel cost savings also are associated with Duke Energy Progress' purchase of North Carolina Eastern Municipal Power Agency's ownership share in certain generation assets, which closed in July 2015.
- Set your AC to the lowest comfortable setting. Every degree increase saves you about 5 percent in cooling costs. Energy Star recommends a minimum set point of 78 degrees Fahrenheit.
- Change or clean your air filters monthly. A dirty air filter can make a cooling system work harder, which uses more energy.
- Inspect and service your HVAC. Make sure your HVAC system is ready to keep you cool by having it checked by a qualified heating and air conditioning contractor.
- Don't cool an empty house. If you'll be out and about, program your thermostat to work around your schedule.
- Close the blinds. Shutting drapes and shades during the hottest part of the day can keep the sun's rays from heating your house.
- Grill outdoors. Cooking in the oven and on the stovetop creates a lot of indoor heat. Help save energy by firing up the grill outdoors or prepare meals that don't require cooking.
- Use fans in occupied rooms. They circulate air to supplement air conditioning. Make sure they are set to operate in a counterclockwise direction.
- Turn off unnecessary lights. And, use energy-efficient light bulbs that use less electricity and emit less heat.
- Seal air leaks with caulking and weather stripping. And keep the door closed as much as you can to keep the cool air inside.
- Piedmont's North Carolina customer bills collectively would decrease by $10 million, spread over the first two years after the acquisition, to ensure Piedmont customers benefit from Piedmont-related cost savings generated by the acquisition. In North Carolina, Piedmont has about 655,000 residential customers, 69,000 commercial business customers and 1,000 industrial and other customers.
- The combined company would make annual charitable contributions totaling at least $17.5 million in North Carolina during each of the four years after the acquisition.
- The combined company would commit $7.5 million for low-income household energy assistance and community job training programs during the first year after the acquisition.
- Certain expenses related to the acquisition, including severance costs and investment banker and legal fees for transaction structuring, would be excluded from customer bills.
- Duke Energy and Piedmont would be subject to a "Code of Conduct," specific to the acquisition, ensuring, among other things, that their customers would continue to benefit from competitive natural gas prices.
- The BKV Technology Center is located at the Brooksville Tampa Bay Airport and is owned by Hernando County. It features two active air traffic-controlled runways (7,000 and 5,000 feet) and a CSX branch line connecting the 2,400-acre technology center. The Site Readiness Program evaluated a 285-acre parcel adjacent to existing commercial and industrial tenants with the ability to accommodate buildings of nearly 800,000 square feet.
- The Sunny Oaks Technology Campus in Marion County is a 456-acre business park zoned for light industrial users. It is located on the southeast corner of Highway 318 and I-75, with approximately 1.5 miles of I-75 frontage. It is centrally located between Ocala and Gainesville and is approximately 15 minutes from the University of Florida.
- Central Florida Business Park in Osceola County is a 217-acre site strategically located just south of U.S. Highway 17-92 on Ham Brown Road and is equidistant from the Port of Tampa and Port Canaveral. The property is zoned for industrial use and is located just 10 miles from the new $200 million Florida Advanced Manufacturing Research Center, which is the first industry-led smart-sensor research facility in the nation.
- The Airco Aviation Business Center is located in Pinellas County, adjacent to the St. Pete-Clearwater International Airport with more than 130 acres of property designated for aviation and light manufacturing uses. The site is strategically located less than two miles off of I-275 and is in the heart of the Tampa Bay region.
- The Smyder Property includes 94 acres in the City of Alachua within the Alachua County/Greater Gainesville region. The property is strategically located in close proximity to several key regional assets, including the Sid Martin Biotechnology Incubator, which has been ranked among the nation's top three biotechnology incubators by University Business Incubators Global since 2013. Also nearby are Progress Park, a biotech park with more than 30 companies; a logistics hub for major distribution centers; the University of Florida, a preeminent state university; and Santa Fe College, the nation's No. 1 community college as ranked by the Aspen Institute. Additionally, the Smyder Property is ideally located near several key transportation corridors including U.S. Highway 441 and I-75, as well as the Gainesville Regional Airport.
- If rising water threatens your home – or if you evacuate your home – turn off your power at the circuit breaker panel or fuse box.
- Electric current passes easily through water, so stay away from downed power lines and electrical wires. Don't drive over – and don't stand near – downed power lines.
- Never replace a fuse or touch a circuit breaker with wet hands, or while standing on a wet or damp surface.
- If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain verification from your local building inspection authority before power can be restored. Duke Energy can provide a free, no-obligation referral to a local reputable electrician at 888-999-8856.
- H.F. Lee Station Combined Cycle Plant in Wayne County
- Sutton Combined Cycle Plant in New Hanover County
- Allowing a range of closure options to include capping the material on site with long-term monitoring, a faster solution that would not require hauling millions of tons of ash through communities to new locations for decades to come
- Aligning North Carolina with other states in the Southeast and across the nation that are pursuing capping in place, which is recognized by the Environmental Protection Agency as a safe and proven option, wherever possible
- Promoting the growth of safe coal ash recycling in construction materials and other uses, the only way to avoid permanent storage of the material
- Reducing total cost to customers when compared to excavation, which is more expensive without additional measurable environmental benefits
- The 60-megawatt (MW) Monroe Solar Facility on 2272 S. Rocky River Road near Monroe in Union County will be located on a 400-acre site. Strata Solar in Chapel Hill will design and build the project.
- The 15.4-MW Mocksville Solar Facility in Davie County will use about 110 acres of land. The project will be located at 197 Crawford Road in Mocksville. Crowder Construction in Charlotte will serve as the project engineering, procurement and construction lead.
- STEM After School Programs in every Title I elementary, middle and high school in the county;
- The Enterprise Village Program that teaches fifth graders to apply math skills in simulated businesses
- Two programs that promote STEM-related innovation and career paths for high school students
- Classroom grants and matching funds for STEM Academy teacher training and industry certifications.
- Pinellas County Education Foundation ($252,000)
- Orlando Science Center ($75,000)
- Keystone Science School ($50,400)
- Foundation for Orange County ($50,000)
- Pasco Education Foundation ($50,000)
- Polk Education Foundation ($50,000)
- Consortium of Florida Education Foundations ($50,000)
- Young Men's Christian Association, Inc. ($50,000)
- Foundation for Seminole County ($40,000)
- Citrus County Education Foundation ($34,054)
- Futures, Inc. Volusia County ($30,000)
- Education Foundation of Lake County ($28,000)
- Foundation for Osceola Education ($25,000)
- Junior Achievement of Tampa Bay ($25,200)
- Madison County Foundation for Excellence ($20,000)
- Polk State College Foundation ($20,000)
- Public Education Foundation of Marion County ($20,000)
- "One path being that you've declared that your education IS NOT done, finished and completed. This path often results in personal, professional, emotional and spiritual growth – all of which may lead you toward becoming a greater you and supporting causes much bigger than yourselves.
- "The second path may be that, if you've declared that your education IS now done, finished and completed, then I fear you face a future of frustration, disappointment, and not maximizing all the potential that lies within you.
- City of Belmont (N.C.) Kevin Loftin Riverfront Park – $100,000 to complete the park along the Catawba River in Gaston County, providing river access and recreational and environmental education opportunities.
- Catawba County Parks (N.C.) Riverbend Park Lookout Shoals Lake – $100,000 to provide a handicapped-accessible river observation/fishing platform on Lookout Shoals Lake, with interpretive kiosks providing educational information about Oxford Dam, clean energy and good stewardship of our natural/cultural resources.
- City of Randleman (N.C.) Deep River Greenway – $100,000 toward the purchase of purchase 157 acres located on the Deep River in Randolph County to protect it from development, improve water quality and provide a recreational destination for the region.
- Community Services of Swain (N.C.) Swain Riverfront Expanded Public Recreational Access Project – $90,000 to expand public use and access to waterways in Swain County through new riverfront access and user opportunities, including fishing, canoe, kayak and tubing access.
- North Carolina Coastal Land Trust (N.C.) Project WOW! Waters of Waccamaw – $70,000 to permanently protect critically important wetlands and almost 2 miles of a forested buffer on the river in Columbus County.
- Piedmont Land Conservancy (N.C.) Hill Farm in the Dan River Basin – $48,000 to transfer 155 acres of the Hill Farm in Stokes County to the N.C. Wildlife Resources Commission for permanent protection and management as a public access fishing, hiking and limited hunting preserve.
- Furman University (S.C.) Swan Lake Restoration Project – $95,000 to restore seepage wetland habitat and improve water quality of Swan Lake in the Reedy River watershed by building floating marsh islands. A pedestrian bridge will also be constructed to allow views of the lake restoration. The project in Greenville County will be the basis for student-faculty ecological research and community education.
- City of Rock Hill (S.C.) River Park Kayak Launch Improvement Project – $100,000 to expand public use of and access to the Catawba River by constructing an improved canoe/kayak launch at River Park, one of three river access points in York County, S.C.
- Watershed Ecology Center (S.C.) Adopt-A-Stream program for Spartanburg County – $25,000 to improve source water quality in the county through the education and involvement of citizen water quality monitoring volunteers.
- First quarter 2016 adjusted diluted earnings per share (EPS) were $1.13 compared to $1.24 for the first quarter of 2015, reflecting the impact of milder winter weather and the prior-year sale of the Midwest Generation business
- Reported diluted EPS of $1.01 for first quarter 2016, compared to $1.22 for the first quarter of 2015
- Company remains on track to achieve its 2016 adjusted diluted earnings guidance range of $4.50 to $4.70 per share
- Milder winter weather compared to the prior year (-$0.10 per share), principally in the Carolinas and Midwest
- Higher depreciation and amortization expense (-$0.06 per share), primarily resulting from additional plant-in-service, including the North Carolina Eastern Municipal Power Agency (NCEMPA) asset purchase in July 2015
- Higher O&M expenses (-$0.01 per share), as a result of significant winter storm costs and the NCEMPA asset purchase, which were mostly offset by lower outage costs and ongoing cost efficiency initiatives
- Higher revenues from increased pricing and riders (+$0.07 per share) driven by the NCEMPA rider and energy efficiency programs
- Lower projected coal and gas fuel prices, partially offset by higher projected nuclear fuel costs
- An $11.2 million decrease in the prior period true-up of fuel costs, as compared to the prior period true-up included in the current bill
- Duke Energy continues to be a cleaner company. In 2015, overall carbon dioxide emissions from generation were 28 percent below what they were 10 years ago – and about 6 percent less than 2014.
- Carbon intensity, the amount of carbon dioxide released per kilowatt-hour of electricity produced, is 23 percent lower than 10 years ago.
- Since 2009, Duke Energy has provided more than 70 million deeply discounted energy-efficient lighting products to our customers.
- Duke Energy's price per kilowatt-hour of electricity is lower than the national average in all six states the company serves retail customers.
- Since 2013, Duke Energy has helped its communities attract more than 37,000 jobs and more than $10 billion in capital investment.
- Arts Partnership of Spartanburg: To support a mobile science and arts program for students in Spartanburg County schools.
- Children's Museum of the Upstate: To provide energy education programs for Title 1 schools with visits to the museum and programs that go to schools.
- Clemson University Women in Science/Programs for Educational Enrichment and Retention (PEER): To provide continued support to programs that provide camps for minority engineering majors, and to provide camps, encouragement and support to women pursuing careers in science and math.
- Florence County School District 2: To support Project Lead The Way, which provides hands-on STEM programs for all students in the district.
- Governor's School for Math and Science: To support summer training for teachers in Pickens, Florence and Kershaw counties with hands-on STEM activities and curriculum, and summer camps that focus on STEM topics.
- iMAGINE Upstate: To support pre-event activities focused on science and engineering for students leading up to the STEM-focused community festival.
- Junior Achievement of the Upstate: To provide kits that will help middle school children in Greenville County understand STEM career paths.
- Northeastern Technical College: To help provide summer STEM camps and counselor training for better understanding of STEM career fields.
- Public Education Partners: To help curb the loss of reading skills of students in Greenville County schools through summer book fairs and family reading nights.
- School District of Oconee County: To support a district-wide initiative of accelerated professional development for the implementation of STEM curriculum.
- School District of Pickens County: To provide literacy teacher training for all kindergarten through 5th grade teachers.
- South Carolina Independent Colleges and Universities: To provide scholarships for STEM majors at independent colleges and universities in Duke Energy service areas.
- United Way of Greenville County: To support afterschool programs for students from underserved neighborhoods that engage in hands-on STEM activities.
- United Way of Pickens County: To expand the successful "Camp iRock" summer literacy program countywide.
- Upcountry History Museum: To support literacy development through the Upcountry History Museum Book Club.
- Winthrop University: To support internships for students pursuing STEM majors.
- In April 2015, the city of Danville Parks and Recreation (Va.) received $100,000 for its Riverwalk-Sandy River Project. The funds are helping to create a riverwalk that includes a paved trail, a bridge and a boardwalk that will serve as an extension of Danville's greenway with westward access along the Dan River.
- In December 2015, Rockingham County received $91,000 to provide river access on Dan River, riparian forest improvement and environmental education.
- Online: An audio webcast will be available through the investors' section of the company's website at www.duke-energy.com/investors/.
- Phone: Participants can dial 888.427.9411 within the United States. International callers should use 719.325.2354. The pass code is 8502598.
- the prudence of subscriber decisions to contract with Grid Assurance™ for sparing service and the prudence of purchasing spare equipment from Grid Assurance™ following a qualifying event;
- the availability of single-issue ratemaking to recover costs of purchasing sparing service and spare equipment from Grid Assurance™; and
- that affiliate rules are waived for Grid Assurance™, subject to certain conditions including submission of an annual information report from Grid Assurance™ that contains audited financial statements, information about the sparing service fee formula and information about sparing sales including cost and sale price. The annual information reporting requirement will begin a year from the start of sparing operations.
- Buck Steam Station in Rowan County
- Dan River Steam Station in Rockingham County
- H.F. Lee Station Combined Cycle Plant in Wayne County
- Sutton Combined Cycle Plant in New Hanover County
- Aquion Energy is providing the innovative battery technologies and associated engineering services.
- Maxwell Technologies is providing fast-response ultracapacitors (UCAPs) that are capable of storing and discharging energy quickly and effectively.
- Win Inertia is providing the SHAD® solution (Win Inertia's HESS) integrating enhanced power electronics and patented energy management and control systems.
- Multiple federal and state agencies have been closely studying the Dan River.
- No physical impacts to fish or aquatic life have been observed to date.
- The EPA stated it does not believe human health was affected by the ash release.
- Within weeks of the incident, researchers from NC State University determined the river was safe for irrigation and livestock use.
- Duke Energy and regulators from NC and Virginia continue monitoring the river to identify any potential long-term effects.
- Improved power reliability and safety from updating and replacing aging electric grid infrastructure, including substations, utility poles, power lines and transformers.
- Fewer and shorter power outages where "self-healing" systems are installed. Today, when a tree or other object comes in contact with a power line causing an outage, every customer served by that line — and other lines connected to it — loses power. With self-healing technology, the company can automatically detect the problem, isolate it and reroute power — so fewer customers are affected while repairs are made.
- Improved information for consumers. Equipment such as line sensors will enable the company to provide customers more information about power outages affecting them and estimated restoration times. In some cases, the equipment can reduce the need to dispatch field personnel to find an outage's location, which speeds power restoration.
- Energy savings from grid technology that optimizes voltage and reduces overall power consumption by about 1 percent on upgraded power lines.
- Our work is guided by science and engineering, including comprehensive groundwater studies and state-of-the-art modeling.
- Ash is being excavated and moved to fully lined solutions at six of our 16 Carolinas plants (Asheville, Cliffside, Dan River, Riverbend, Sutton and WS Lee.)
- Newly constructed rail spurs are being used at three plants to significantly increase the amount of ash hauled away (Dan River, Sutton, Riverbend)
- We've begun safely removing water from basins at Riverbend and Sutton, and other plants will follow. This is a critical step as we move toward closure.
- On-site lined landfills are planned for Dan River, Sutton, WS Lee and Robinson plants.
- Sulfur dioxide will be reduced by an estimated 99 percent.
- Nitrogen oxide will be reduced by an estimated 45 percent.
- Mercury emissions will be reduced to negligible levels
- Water discharges will be reduced by an estimated 50 percent.
- Carbon dioxide emissions will be reduced by about 60 percent, on a per-megawatt-hour basis, due to the efficiency of the new gas units and the fact that natural gas burns more cleanly than coal.
- When: March 2, 2016, at 10 a.m. – Rain or shine
- Where: Crystal River Energy Complex, 15760 W. Power Line St., Crystal River. (Once on Power Line Street, turn right at the light. If you get to the security checkpoint, you've gone too far.)
- Attire: This is an outdoor event with uneven terrain, sand and wooded areas. Wearing flat, closed-toe shoes is recommended.
- Details: The event is by invitation only and will include remarks from Duke Energy and Fluor executives as well as local elected officials and community leaders. Light refreshments will be served.
- Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy.
- If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Company achieves adjusted diluted earnings per share (EPS) of $4.54 in 2015, compared to $4.55 in 2014; reported diluted EPS of $4.05 for 2015, compared to $2.66 in 2014
- Record mild December weather results in fourth quarter 2015 adjusted diluted EPS of 87 cents, compared to 86 cents for the fourth quarter 2014; fourth quarter 2015 reported diluted EPS of 69 cents, compared to 14 cents in 2014
- Company establishes 2016 adjusted diluted EPS guidance range of $4.50 to $4.70
- Increased pricing and riders (+$0.09 per share) as a result of increased riders, including a favorable Ohio energy efficiency settlement
- Higher wholesale net margins (+$0.05 per share) due to new and updated contracts, including earnings from the long-term wholesale contract associated with the recent North Carolina Eastern Municipal Power Agency (NCEMPA) asset purchase
- Increased weather-normal retail volumes (+$0.04 per share)
- Record breaking mild winter weather (-$0.12 per share), principally in the Carolinas and Midwest
- Higher revenues from increased pricing and riders (+$0.23 per share) due to increased energy efficiency programs and fuel and purchased power cost true-ups
- Increased wholesale net margins (+$0.16 per share) due to new and updated contracts including earnings from the long-term wholesale contract associated with the recent NCEMPA asset purchase
- Increased weather-normal retail volumes (+$0.07 per share) of 0.6 percent compared to the prior year
- Higher O&M expense (-$0.18 per share) due to higher planned outages, increased costs related to the recent NCEMPA asset purchase and nuclear outage cost levelization. These costs were partially offset by lower storm costs
- Higher depreciation and amortization expense (-$0.13 per share) primarily resulting from additional plant in-service, including the NCEMPA assets
- Lower margins at National Methanol (-$0.03 per share) due to lower MTBE and methanol prices
- Stronger results in Brazil (+$0.02 per share) due to lower purchased power costs partially offset by unfavorable foreign currency exchange rates
- Weaker results in Brazil (-$0.10 per share) primarily due to lower sales volumes and higher purchased power costs resulting from ongoing drought conditions and decreased demand in Brazil as well as unfavorable foreign currency exchange rates
- Lower results in Central America (-$0.04 per share) primarily due to lower generation and prices from increased competition
- Absence of a prior-year tax benefit in Chile (-$0.07 per share)
- Lower margins at National Methanol (-$0.07 per share) largely driven by lower MTBE and methanol prices
- How low can you go? Lower your temperature and you could save up to 3 percent on your energy bill for each degree you lower your thermostat.
- Mind the gap. Seal air leaks around windows and doors. Use weather-stripping to keep your heat – and heating dollars – from flying away.
- 120 degrees please. Water heating can account for up to 25 percent of your energy bill. Set your electric water heater to 120 degrees to save.
- Free solar heating. Open curtains on south-facing windows during the day to let the sun's warm rays heat your home.
- Clear out the dirt. One of the easiest things customers can do to support heating efficiency is to change air filters regularly. A dirty air filter makes a heating system work harder, which uses more energy.
- Maintain your HVAC. Have the HVAC system checked regularly by a qualified heating and air conditioning contractor to maintain efficiency and peak performance.
- No physical impacts to fish or aquatic life have been observed to date.
- The EPA stated it does not believe human health was affected by the ash release.
- Within weeks of the incident, researchers from North Carolina State University determined the river was safe for irrigation and livestock use.
- Duke Energy and regulators from NC and Virginia continue monitoring the river to identify any potential long-term effects.
- Continued to excavate ash from the Asheville Plant (Asheville, N.C.) and began excavating at Cliffside Steam Station (Mooresboro, N.C.), Dan River Steam Station (Eden, N.C.), Riverbend Steam Station (Mount Holly, N.C.), Sutton Plant (Wilmington, N.C) and W.S. Lee Steam Station (Belton, S.C.) to fully lined, permanent solutions
- Submitted comprehensive groundwater assessments to NCDEQ for each of the 14 coal plants in the state
- Announced plans to build fully lined on-site landfills at the Dan River Steam Station (Eden, N.C.), Robinson Plant (Hartsville, S.C.), Sutton Plant (Wilmington, N.C.) and W.S. Lee Steam Station (Belton, S.C.)
- Announced that the Electric Power Research Institute (EPRI) is conducting a comprehensive study of the coal ash recycling market and available technologies
- Announced plans to retire the coal-fired Asheville Plant (Asheville, N.C.) in four to five years and modernize Duke Energy's generation and transmission system in Western North Carolina and Upstate South Carolina – significantly reducing environmental impacts, improving system reliability and minimizing long-term costs to customers
- Cool 500,000 homes for a full year
- Light over 1 million homes for a year
- Fully power 70,000 homes for a year
- Please continue to report your outage at 1-800-POWERON or 800-419-6356.
- Customers may also text OUT to 57801 (standard text and data charges may apply)
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Avoid heating homes with a gas grill or bringing a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
- Determine now what action they would take in the event of an extended power outage.
- Please continue to report your outage at 1-800-POWERON or 800-419-6356.
- Customers may also text OUT to 57801 (standard text and data charges may apply)
- Customers can view current outages online at www.duke-energy.com/winterstorm.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Avoid heating homes with a gas grill or bringing a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
- Determine now what action they would take in the event of an extended power outage.
- Please continue to report your outage at 1-800-POWERON or 800-419-6356.
- Customers may also text OUT to 57801 (standard text and data charges may apply)
- Customers can view current outages online at www.duke-energy.com/winterstorm.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Avoid heating homes with a gas grill or bringing a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
- Determine now what action they would take in the event of an extended power outage.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Avoid heating homes with a gas grill or bringing a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
- Determine now what action they would take in the event of an extended power outage.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Do not heat homes with a gas grill or bring a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
- Determine now what action they would take in the event of an extended power outage.
- Call the automated outage-reporting system at 1-800-POWERON (1-800-769-3766).
- Report an outage or view current outages online at www.duke-energy.com/storm.
- Text OUT to 57801 (standard text and data charges may apply)
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
- Ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand.
- Avoid heating homes with a gas grill or bringing a generator inside. Such equipment should be operated only outdoors, and only in well-ventilated areas. Manufacturer instructions should be followed.
- Check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
- Determine now what action they would take in the event of an extended power outage.
- Duke Energy on Twitter: www.twitter.com/DukeEnergy
- Duke Energy on Facebook: www.facebook.com/DukeEnergy
- Providing standby power systems for critical manufacturing processes, as well as making power capacity available to the grid in case of emergencies through Duke Energy's PowerShare® program
- Partnering with Duke Energy on energy efficiency incentive programs to complete extensive facility renovations and upgrades to save energy
- Working with Duke Energy to upgrade electrical infrastructure to support an organization's growth and improve multiple energy efficiency upgrades
- Bausch & Lomb (Greenville, S.C.)
- Bay Pines VA Healthcare System, U.S. Dept. of Veterans Affairs (St. Petersburg, Fla.)
- Childress Klein (Charlotte, N.C.)
- Cisco Systems (Raleigh, N.C.)
- Coty Inc. (Sanford, N.C.)
- Crystal Photonics, Inc. (Sanford, Fla.)
- Dairy Fresh LLC (Winston-Salem, N.C.)
- Forest Hills School District (Cincinnati, Ohio)
- HCL America (Cary, N.C.)
- Impact Forge Group (Columbus, Ind.)
- Laboratory Corporation of America Holdings (Burlington, N.C.)
- MillerCoors (Trenton, Ohio)
- QuikTrip (national account with locations in the Carolinas)
- University of North Carolina at Charlotte (Charlotte, N.C.)
- Continued to excavate ash from the Asheville Plant (Asheville, N.C.) and began excavating at Cliffside Steam Station (Mooresboro, N.C.), Dan River Steam Station (Eden, N.C.), Riverbend Steam Station (Mount Holly, N.C.), Sutton Plant (Wilmington, N.C) and W.S. Lee Steam Station (Belton, S.C.) to fully lined, permanent solutions
- Submitted comprehensive groundwater assessments to NCDEQ for each of the 14 coal plants in the state
- Announced plans to build fully lined on-site landfills at the Dan River Steam Station (Eden, N.C.), Robinson Plant (Hartsville, S.C.), Sutton Plant (Wilmington, N.C.) and W.S. Lee Steam Station (Belton, S.C.)
- Announced that the Electric Power Research Institute (EPRI) is conducting a comprehensive study of the coal ash recycling market and available technologies
- Announced plans to retire the coal-fired Asheville Plant (Asheville, N.C.) in four to five years and modernize Duke Energy's generation and transmission system in Western North Carolina and Upstate South Carolina – significantly reducing environmental impacts, improving system reliability and minimizing long-term costs to customers
Duke Energy names Melissa Seixas as Florida state president
Source: PR Newswire
Orignial Article: https://contentapi.cision...
ST. PETERSBURG, Fla., Feb. 4, 2021 /PRNewswire/ -- Duke Energy today said it will elevate Melissa Seixas to serve as president of Duke Energy Florida, effective Feb. 16. Currently vice president government and community relations for Duke Energy Florida, Seixas will succeed Catherine Stempien, who is leaving at the end of February for a position outside of the company.
Seixas, 55, will lead the company's work with customers, employees, policymakers and others to advance the clean energy vision for the state, expand electrification efforts, and focus on strategic philanthropic initiatives and community relations. She will have responsibility for managing state and local regulatory and government relations across the Sunshine State.
"Melissa's many years of experience with the company have prepared her well for this important role," said Doug Esamann, executive vice president energy solutions, president Midwest and Florida Regions and natural gas business unit. "She is well-known throughout our Florida communities and will build on the great progress the team has already accomplished. She will continue to advocate for policies and practices that meet the energy needs of our customers to ensure we deliver the safe and reliable service they expect and deserve."
In her role as vice president government and community relations, Seixas directed Duke Energy Florida's efforts to strengthen relationships with local municipal, community and civic organizations, as well as business leaders throughout the company's 35-county service area. Her team worked closely with leaders to help communities achieve their energy, growth and sustainability goals.
In 1986, Seixas joined Florida Power (which later became Progress Energy and then Duke Energy) in distribution engineering. Over her 34-year career with the company, she has served in numerous roles with increasing leadership responsibilities.
Seixas holds a bachelor's degree in American history from Eckerd College and a master's degree in American history from the University of South Florida. Her executive training includes a Corporate Social Responsibility (CSR) certification from Johns Hopkins University, and programs with the Edison Electric Institute and Georgetown University's McDonough School of Business.
Seixas has a strong tradition of supporting her community. She has served on numerous boards for nonprofit and business organizations including the Clearwater Marine Aquarium and the Pinellas County Urban League, and she served as immediate past chair of the board of directors for the St. Petersburg Downtown Partnership. She also has a long history of service to the University of South Florida and was honored as the 2019 recipient of the USFSP Regional Chancellor Award for Civic Leadership. She currently serves as a member of the USF St. Petersburg Campus Advisory Board and was recently appointed to the board of trustees for the University of South Florida.
"We're excited to have Melissa as the new state president as our company continues its clean energy transformation journey, and we deeply appreciate Catherine's leadership and contributions to our company. We wish her all the best," said Esamann.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Valerie Patterson
Media line: 800.559.3853
Cell: 704-577-1821
Email: valerie.patterson@duke-energy.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-names-melissa-seixas-as-florida-state-president-301222721.html
SOURCE Duke Energy
Article Date
2/4/20212/1/2021 - Duke Energy named one of Fortune's 'World's Most Admired Companies' for fourth consecutive year
Duke Energy named one of Fortune's 'World's Most Admired Companies' for fourth consecutive year
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C., Feb. 1, 2021 /PRNewswire/ -- Duke Energy's (NYSE: DUK) commitment to helping customers through the Covid pandemic while also advancing a robust clean energy transformation kept the company among Fortune magazine's 2021 list of the World's Most Admired Companies for the fourth year in a row. Duke Energy was ranked 7th among gas and electric utilities.
"We're grateful to receive this recognition on behalf of our talented team of nearly 30,000 employees who work every day delivering a smarter and cleaner energy future to our customers," said Lynn Good, Duke Energy's chair, president and CEO. "To deliver on our vision to achieve net-zero carbon emissions by 2050, we're transforming and reshaping our company, from how we generate power and transform our fleet to the role we play in society. Even in this uncertain time, our teammates have worked tirelessly to ensure customers receive the value and experience they expect."
In determining the industry rankings, executives, directors and industry analysts are independently surveyed and companies are rated on nine attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products/services and global competitiveness.
Recent company performance highlights
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-named-one-of-fortunes-worlds-most-admired-companies-for-fourth-consecutive-year-301219256.html
SOURCE Duke Energy
Article Date
2/1/2021New Duke Energy subsidiary, eTransEnergy, to help companies and cities transition commercial fleets to electric vehicles
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C., Feb. 1, 2021 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced a major step to help large businesses and municipalities with all the planning, financing, acquisition and deployment services to electrify their fleets. The company, eTransEnergy LLC, a new, wholly owned subsidiary, will provide unregulated services to assist school districts, transit services and companies across the country achieve their economic and sustainability goals as they transition to clean energy transportation options.
Commercial fleets looking for reduced emissions, less noise, better performance and lower operating costs now have one comprehensive source for transitioning their fleets to EVs (electric vehicles), from start to finish.
"Electrifying vehicles represents an incredible opportunity for our customers and communities to reduce carbon emissions," said Doug Esamann, executive vice president of energy solutions for Duke Energy. "Through eTransEnergy, we're offering a low-risk, realistic solution for customers to transform their fleets."
As a Duke Energy company, eTransEnergy professionals offer many years of combined experience working with commercial electric fleets, managing total cost of ownership and maintaining the supporting infrastructure. Customers will benefit from this knowledge through comprehensive infrastructure planning, smart charging technology, on-site solar energy generation, battery backup options and other aspects of EV fleet management.
Greg Fields, eTransEnergy managing director, said, "We understand the unique needs of fleet operators and our goal is to simplify the complex process of scaled electric fleet adoption."
eTransEnergy works with commercial electric original equipment manufacturers (OEMs) to provide customers with access to the vehicle that best meets their needs. In addition, and to support the sustainable growth of distributed technologies like electric vehicles, Duke Energy works continuously in all its service areas to strengthen and improve the electric grid. And now, with eTransEnergy services available across North America, Duke Energy will work with local utilities to support updates to the energy grid and other infrastructure as needed.
Fleet owners and operators interested in more information should visit the eTransEnergy website.
Duke Energy's fleet conversion pledge
Duke Energy has pledged to convert 100% of its nearly 4,000 light-duty vehicles to electric and 50% of its approximately 6,000 combined fleet of medium-duty, heavy-duty and off-road vehicles to EVs, plug-in hybrids or other zero-carbon alternatives by 2030. For more information on Duke Energy's comprehensive climate strategy, visit duke-energy.com/climate.
To help spur EV adoption, Duke Energy is launching several pilot programs that deliver a more expansive charging infrastructure throughout its service territories. In Florida, the company's pilot is off the ground with over 570 charging stations nearing completion. Duke Energy has received approvals for pilots in North Carolina and South Carolina as well, and has a proposal pending in Ohio.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jennifer Sharpe
Phone: 704.616.2013
Email: jennifer.sharpe@duke-energy.com
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SOURCE Duke Energy
Article Date
2/1/20211/29/2021 - Duke Energy promotes Karn as vice president for regulatory affairs and policy for Indiana
Duke Energy promotes Karn as vice president for regulatory affairs and policy for Indiana
Source: PR Newswire
Orignial Article: https://contentapi.cision...
PLAINFIELD, Ind., Jan. 29, 2021 /PRNewswire/ -- Duke Energy has promoted Kelley Karn to the newly created office of vice president for regulatory affairs and policy for Indiana.
Since 2006, Karn served as the utility's lead regulatory attorney in Indiana and has led legal and regulatory initiatives with state and federal regulators. She was promoted to deputy general counsel in 2008.
In her new role, Kelley will be responsible for relationships and advocacy with stakeholder groups and key state executive agencies including the Indiana Utility Regulatory Commission, the Office of Utility Consumer Counselor, the Indiana Department of Environmental Management, as well as the governor's office. She will also fill policy committee needs for the company at the Indiana Chamber of Commerce, Indiana Manufacturers Association and the Indiana Energy Association.
Additionally, Karn will provide leadership and strategic direction for the development and coordination of comprehensive energy policy strategies for Duke Energy Indiana.
"There is no one better qualified to fill this new position than Kelley," said Stan Pinegar, Duke Energy state president for Indiana. "While serving as lead regulatory attorney, Kelley and her team have worked hard to create long-lasting stakeholder relationships that have resulted in constructive regulatory and legal outcomes. She will play a large role in moving the company forward in this period of rapid change in our industry."
Karn earned her bachelor's degree in government, international relations and public policy from the University of Notre Dame, graduating cum laude. Her juris doctor degree is from the Indiana University School of Law – Indianapolis, where she graduated summa cum laude. She is admitted to the Indiana Bar.
Karn and her husband, Ron, have three sons and live in Noblesville.
The company also announced that Beth Heneghan, who is associate general counsel, will move up to take Karn's role as deputy general counsel and lead regulatory attorney in Indiana.
Heneghan has been legal counsel for Duke Energy focusing on Indiana regulatory work since 2008, and was promoted to her current role as Associate General Counsel in 2012. She has been instrumental in many key regulatory outcomes for Duke Energy Indiana, including her work with both the Edwardsport IGCC plant as well as coal ash basin closures. With her depth of experience, she is well positioned to lead the Indiana regulatory legal team.
Heneghan and her husband, Mike, live in Indianapolis with their five children.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 850,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Contact: Lew Middleton
Cell: 317.474.7448 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/29/2021Duke Energy earns inclusive workplace recognition from Human Rights Campaign Foundation
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C., Jan. 29, 2021 /PRNewswire/ -- Duke Energy has received a perfect score for the fourth year in a row on the Human Rights Campaign Foundation's 2021 Corporate Equality Index, a national benchmarking study that annually ranks companies on LGBTQ-friendly corporate practices and policies.
Duke Energy's score of 100% earned the company inclusion on the organization's list of "Best Places to Work for LGBTQ Equality."
The 2021 Corporate Equality Index rates employers based on criteria in five categories: non-discrimination policies, benefits, organizational competency and accountability around LGBTQ inclusion, public commitment, and citizenship.
Duke Energy is one of only five companies headquartered in the Charlotte region to achieve a perfect score.
"We pay a lot of attention to how it feels to work at Duke Energy," said Joni Davis, Duke Energy's vice president and chief diversity and inclusion officer. "Everyone here has a role in ensuring our work environment is inclusive and enriching. We are honored to be recognized in this way."
Among the policies and practices in place at Duke Energy are anti-discrimination training, equal health coverage for transgender individuals, philanthropic giving to support the LGBTQ community, and an employee resource group whose mission is to promote LGBTQ inclusion.
"We all spend a lot of time at work, and it's important that you feel like you can bring – and share – your whole self," said Lara Nichols, Duke Energy's vice president, nuclear and environment, health and safety legal. "Allyship is critical to creating an inclusive culture, and it's an honor to serve as our We Are One (WeR1) for LGBTQ Equality employee resource group executive sponsor."
The WeR1 for LGBTQ Equality employee resource group has nearly 500 members and is supported by the company's senior leadership. Learn more on illumination.
To read the Human Rights Campaign's full report, visit hrc.org.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Shawna Berger
24-Hour: 800.559.3853
@DE_ShawnaB
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SOURCE Duke Energy
Article Date
1/29/2021Duke Energy partners with GIC to secure minority investment in Duke Energy Indiana, increases long-term EPS growth rate
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C., Jan. 28, 2021 /PRNewswire/ -- Duke Energy (NYSE: DUK), alongside GIC, today announced that it has entered into a definitive agreement for an acquisition of a 19.9 percent interest in Duke Energy Indiana (DEI), a subsidiary of Duke Energy, by an affiliate of GIC Private Limited, Singapore's sovereign wealth fund and an experienced investor in U.S. infrastructure.
Duke Energy today also announced its 2021 adjusted earnings per share (EPS) guidance range of $5.00 to $5.30. The transaction with GIC bolsters the company's growth potential and supports its increased long-term adjusted EPS growth rate of 5 to 7% through 2025, based off of a 2021 adjusted EPS midpoint of $5.15. This is up from the previously stated 4 to 6% rate.
Under the terms of the agreement, GIC will acquire a 19.9 percent indirect minority interest in Duke Energy Indiana for a total purchase price of $2.05 billion, a significant premium to Duke Energy's current public equity valuation.
Proceeds from the transaction will fund Duke Energy's increased $58 to $60 billion capital plan – a five-year plan that will accelerate its clean energy transition – and redeploy capital to support increased growth investments within its portfolio of regulated utilities. With this source of capital and increased financial strength, Duke Energy will continue providing reliable service and investing in important energy infrastructure while maintaining affordable rates for customers.
Given the innovative transaction structure, Duke Energy will receive proceeds in two, separate phases to efficiently align with the company's capital needs. The transaction allows Duke Energy to forego its previously announced plan to raise $1 billion of common equity.
Duke Energy will continue to operate DEI with its best-in-class workforce and will remain the majority owner, with an 80.1 percent stake in the business.
"We are pleased to have GIC as a long-term investor in DEI," said Lynn Good, Duke Energy's chair, president and chief executive officer. "This agreement with GIC allows Duke Energy to not only partner with a highly respected global investor, it also strengthens our confidence as we increase our long-term adjusted EPS growth rate to 5 to 7 percent. With this agreement, Duke Energy is well positioned to effectively finance our robust investment plan in a clean energy future and continue delivering sustainable value to our investors."
"Our agreement with GIC highlights the value and growth potential of DEI and recognizes the continued hard work and commitment of our people," said Stan Pinegar, DEI state president. "Delivering safe and reliable service to our customers and serving our communities remains our top priority."
Ang Eng Seng, GIC's Chief Investment Officer of Infrastructure, said, "As a long-term investor, GIC strongly believes that companies focused on meaningful sustainability practices will create better risk-adjusted returns over the long term. Duke Energy's proven management team and clear commitment to a clean energy transition make this an attractive partnership opportunity for GIC. This capital will help create long-term value by directly supporting Duke Energy's ability to capitalize on their stated ESG and decarbonization goals. We look forward to a successful transaction and long-term investment."
Transaction structure
The $2.05 billion in proceeds will be received in a staggered, two-phase closing, structured in evenly split payments. The first closing is expected to occur in the second quarter of 2021. Under the terms of the agreement, Duke Energy has the discretion to determine the timing of the second closing, but it will occur no later than January 2023.
GIC will invest in a newly formed intermediate holding company of which DEI will be a wholly owned subsidiary. GIC will receive certain limited rights commensurate with the minority stake.
The transaction is subject to customary closing conditions, including approval from the Federal Energy Regulatory Commission (FERC) and completion of review by the Committee on Foreign Investment in the United States (CFIUS).
J.P. Morgan Securities LLC served as Duke Energy's lead financial advisor, and Centerview Partners also served as a financial advisor. Skadden, Arps, Slate, Meagher & Flom LLP served as Duke Energy's legal advisor.
Barclays served as GIC's exclusive financial advisor. Sidley Austin LLP served as GIC's lead legal advisor alongside Steptoe & Johnson LLP and Ice Miller LLP.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About GIC
GIC is a leading global investment firm established in 1981 to manage Singapore's foreign reserves. As a disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including equities, fixed income, private equity, real estate and infrastructure. GIC invests through funds and directly in companies, partnering with its fund managers and management teams to help world-class businesses achieve their objectives. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,700 people across 10 offices in key financial cities worldwide. For more information about GIC, please visit www.gic.com.sg.
Non-GAAP Reconciliation
Duke Energy Corporation's (Duke Energy) materials for the GIC Investment in Duke Energy Indiana include a reference to the forecasted 2021 adjusted EPS guidance range of $5.00 to $5.30 per share, with a midpoint of approximately $5.15 per share. The materials also reference the long-term range of annual growth of 5% - 7% off the midpoint of the 2021 adjusted EPS guidance range, revised up from 4% - 6%. The forecasted adjusted EPS is a non-GAAP financial measure as it represents basic EPS available to Duke Energy Corporation common stockholders, adjusted for the per share impact of special items. Special items represent certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance.
Management believes the presentation of adjusted EPS provides useful information to investors, as it provides them with an additional relevant comparison of Duke Energy's performance across periods. Management uses this non-GAAP financial measure for planning and forecasting and for reporting financial results to the Duke Energy Board of Directors, employees, stockholders, analysts and investors. Adjusted EPS is also used as a basis for employee incentive bonuses.
The most directly comparable GAAP measure for adjusted EPS is reported basic EPS available to Duke Energy Corporation common stockholders. Due to the forward-looking nature of this non-GAAP financial measure for future periods, information to reconcile it to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods, such as legal settlements, the impact of regulatory orders or asset impairments.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. For details on the uncertainties that may cause our actual future results to be materially different than those expressed in our forward-looking statements, see our 2019 Form 10-K and Quarterly Reports on Form 10-Q filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise.
Duke Energy Media contact: Catherine Butler
24-Hour: 800.559.3853
Duke Energy Analyst contact: Jack Sullivan
980.373.3564
GIC Media contact: Katy Conrad
212.856.2407
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SOURCE Duke Energy
Article Date
1/28/20211/25/2021 - Duke Energy, Attorney General, Public Staff and Sierra Club reach agreement on N.C. coal ash costs
Duke Energy, Attorney General, Public Staff and Sierra Club reach agreement on N.C. coal ash costs
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C., Jan. 25, 2021 /PRNewswire/ -- In a milestone settlement that resolves the last remaining major issues on coal ash management in North Carolina, the North Carolina Attorney General, North Carolina Public Staff, Sierra Club and Duke Energy have reached an agreement on costs related to coal ash management and safe basin closure.
The proposed settlement, to be filed with the North Carolina Utilities Commission (NCUC) today, details a plan for coal ash management cost allocation between 2015 and 2030. Over this time frame, Duke Energy will reduce North Carolina customers' costs by approximately $1.1 billion.
The company will also maintain its ability to earn a return on the remaining balance, providing greater confidence in achieving its long-term financial goals and its transition to cleaner energy sources.
"This agreement addresses a shared interest in putting the coal ash debate to rest as we work toward building the cleaner energy future North Carolinians want and deserve," said Stephen De May, Duke Energy's North Carolina president. "We were able to reach a balanced compromise that will deliver immediate and long-term savings to customers and provide greater certainty to the company over the next decade."
The groups had a mutual interest in resolving the outstanding litigation in the current rate cases before the NCUC, as well as the N.C. Supreme Court-ordered review of the 2018 coal ash rate case decisions.
This settlement would reduce coal ash costs included in the pending rate requests by 60%, which would provide immediate customer savings if approved.
Duke Energy is in the process of permanently closing the remaining coal ash basins in the state, with support from the public, regulators, the environmental community and elected officials. This settlement affirms that the current closure strategy remains prudent and in the best interests of customers and communities in the Carolinas.
The NCUC will make the final decision on the proposed rate requests and the proposed settlement agreement.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/25/2021Record-breaking year in solar for Duke Energy customers in North Carolina
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C., Jan. 19, 2021 /PRNewswire/ -- Solar power continued to grow in North Carolina in 2020 with more Duke Energy customers using solar power than ever before.
Driven by the company's five-year, $62 million solar rebate program, which helps pay for the significant upfront costs of solar systems, about 5,500 Duke Energy customers installed private solar systems at their homes and businesses in 2020. Today, more than 18,000 Duke Energy customers have a private solar system.
"Our customers want more renewable energy and Duke Energy is making that a reality for them," said Stephen De May, Duke Energy's North Carolina president. "We're also connecting large-scale solar plants – owned and operated by Duke Energy and other developers."
During 2020, Duke Energy connected almost 350 megawatts of solar power capacity, which could power roughly 60,000 homes. Major projects in 2020 included Duke Energy's 69-megawatt (MW) Maiden Creek solar facility in Catawba County and the 25-MW Gaston County solar facility in Bessemer City.
Duke Energy owns and operates more than 40 solar facilities in North Carolina. The state is a national leader for solar power – trailing only California and Texas in the amount of solar power produced. Overall, Duke Energy has more than 3,700 MW of solar energy connected to its energy grid in the state.
The outlook for future solar power in North Carolina looks promising. In 2020, Duke Energy and most of the major solar industry developers in the Carolinas agreed to a defined process and timeline by which a substantial additional amount of new solar generation will be connected to the Duke Energy distribution system.
"Working with stakeholders will lead to more renewable energy in North Carolina at better prices for customers," added De May. "Renewable energy will be a cornerstone of Duke Energy as we seek to reduce carbon emissions and generate cleaner energy."
Almost 60% of Duke Energy's generation in the Carolinas is carbon-free, with nuclear, solar and hydroelectric power being the leading sources of carbon-free generation.
Duke Energy helped large customers go solar in 2020 with its Green Source Advantage program. The City of Charlotte, Bank of America and Duke University are all pursuing new solar projects under the company's program, which allows large energy users to negotiate directly with solar developers on independent solar projects.
Duke Energy is also getting innovative with new solar projects. At the U.S. Army's Fort Bragg, the company plans to build a 1.1-MW floating solar system as part of a $36 million energy services effort, which will also include infrastructure modernization, lighting and water upgrades, heating, ventilation and air conditioning and boiler system improvements. The floating solar project will be on Big Muddy Lake located at Camp Mackall.
It's not just the Carolinas where Duke Energy is expanding renewable energy. In 2019, Duke Energy met its companywide goal of owning and contracting for 8,000 MW of wind, solar and biomass generation around the nation.
In 2020, the company set a new goal of doubling that figure by 2025. Today, the company has a portfolio of roughly 57,000 MW of generation, which includes all fuel sources.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
1/19/20211/15/2021 - Duke Energy Florida, key consumer groups reach sweeping agreement for building a smarter energy grid
Duke Energy Florida, key consumer groups reach sweeping agreement for building a smarter energy grid
Source: PR Newswire
Orignial Article: https://contentapi.cision...
ST. PETERSBURG, Fla., Jan. 15, 2021 /PRNewswire/ -- Duke Energy Florida (DEF), consumer representatives and business groups have reached a sweeping agreement that will advance the clean energy vision for the state, introduce innovative programs for customers, retire coal plants faster and bring additional certainty to rates through 2024.
The agreement, filed on Jan. 14, 2021, is subject to approval by the Florida Public Service Commission (FPSC).
It includes investments to modernize the electric grid and improve reliability, offers new electric vehicle charging station programs, and supports pilot programs for innovative technology such as microgrids and floating solar pilot projects.
The agreement also provides a new optional residential "Time-of-Use" rate, reduces hurricane cost recovery impacts to customers, removes residential credit card fees for bill payments and includes accelerated retirement dates for DEF's last two coal units eight years ahead of schedule, from 2042 to 2034, in support of the company's carbon reduction goals.
After five months of negotiation, the agreement was developed with customer representatives of several consumer groups, including the state's Office of Public Counsel, the Florida Industrial Power Users Group, Nucor Steel Florida, Inc. and White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate.
"This agreement provides a path to minimize bill increases while continuing to make smart investments that will offer customers greater reliability, cleaner energy alternatives and innovative technology," said Catherine Stempien, Duke Energy Florida state president. "During these challenging times, it also provides rate certainty and clarity for Florida customers and communities regarding future adjustments."
The agreement will take effect in January 2022 and will include base rate investments of approximately $5 billion over the next three years while minimizing the impact on customer bills.
If approved, DEF's base rates will increase by $67.2 million in 2022, and by another $48.9 million in 2023 and another $79.2 million in 2024, for a cumulative rate increase of $195.4 million.
As a result, Duke Energy Florida's average residential customers will see a bill increase of 3% to 4% in 2022.
Nonresidential customer bill increases will vary based on consumption patterns, but most will see increases of 1% to 6.5% in 2022.
All customer classes will see an annual bill increase of approximately 1% to 2% in 2023 and 2024.
Public process
Duke Energy Florida has requested the FPSC to hold a hearing and hopes to have a decision by second quarter 2021.
For more information on how Duke Energy Florida is building a smarter energy grid and future updates, visit duke-energy.com/FLFuture.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Media line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/15/20211/14/2021 - Duke Energy establishes relationship with Optus Bank to support minority-owned businesses
Duke Energy establishes relationship with Optus Bank to support minority-owned businesses
Source: PR Newswire
Orignial Article: https://contentapi.cision...
GREENVILLE, S.C., Jan. 14, 2021 /PRNewswire/ -- Duke Energy (NYSE: DUK) announced today it has deposited $5 million into Optus Bank, a Black-owned bank based in South Carolina, furthering the company's support for diverse and minority-owned businesses, individuals and low income communities. The transaction was completed at the end of 2020.
One of approximately 20 banks designated as Black or African American owned in the U.S., Optus Bank will use the money Duke Energy deposited to provide other minority-owned businesses and underserved communities equal access to capital loans and financial services.
"This is so much more than a deposit in a bank. It's an investment in people and communities that continue to face barriers to mainstream funding and support," said Mike Callahan, Duke Energy's South Carolina president. "Duke Energy is proud to be part of the solution."
This marks the largest deposit Duke Energy has made with a Black-owned bank in the U.S. and the company expects to evaluate additional similar opportunities in the future. And, this historic relationship expands Optus Bank's depositors to include the utility sector.
Optus Bank's Chairman Paul Mitchell added that "Duke Energy's deposit will significantly fuel our ability to help all people build wealth and improve their lives, regardless of their background or situation. We are thankful that the South Carolina Minority Business Development Agency (MBDA) brought us together, and hope that other utilities follow Duke Energy's leadership in delivering on their commitment to advance diversity, equity and inclusion."
This deposit provides additional capital to help more people like Accountant Kadenia Javis with Javis Tax Service pursue their dreams and survive in the current economic climate and beyond. "Optus Bank has been there for me in both good and difficult times, helping us grow our business and support us during the pandemic. Optus Bank also allowed us the opportunity to purchase our first commercial building with a drive-thru window. This assisted the accounting firm to offer contactless support to taxpayers," added Ms. Javis.
"We are proud to work with Optus Bank and excited that this collaboration shines a brighter light on the important role Black-owned banks play in our financial ecosystem," said Callahan.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Optus Bank
Optus Bank's origins date back to 1921 when a group of visionary and courageous African American leaders founded a bank on the principle that all people should have access to the American Dream, regardless of their circumstances. Optus Bank is a federally designated Minority Depository Institution, a U.S. Treasury Certified Community Development Financial Institution and an FDIC insured depository. If you believe that all people should have access to wealth building opportunities, visit us at www.optus.bank.
Contact: Madison McDonald
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/14/2021Duke Energy, Firestone Walker Brewing complete one of the largest on-site solar arrays in craft beer industry
Source: PR Newswire
Orignial Article: https://contentapi.cision...
CHARLOTTE, N.C. and PASO ROBLES, Calif., Jan. 13, 2021 /PRNewswire/ -- Duke Energy (NYSE: DUK) and Firestone Walker Brewing Company have completed one of the largest on-site solar arrays in the craft beer industry – a 2.1-megawatt solar array and 281-kilowatt solar carport on 9.7 acres in Paso Robles, Calif.
The arrays will generate the majority of the brewery's energy, which is enough to brew and bottle 6 million cases of beer annually.
"REC Solar and Duke Energy Renewables have been solid partners throughout this process. They helped us unlock our vision for 'beer brewed with sunshine,' and methodically executed the complex entitlements, engineering and installation of the array. It was as painless a process as we could have hoped," said David Walker, co-owner of Firestone Walker Brewing Company.
The on-site solar, single-axis trackers and carports were made possible through the collaboration of two Duke Energy subsidiaries. REC Solar designed and built the solar project, and Duke Energy Renewables provided Firestone Walker financing through a 25-year power purchase agreement.
"Now more than ever, companies are powering their businesses using renewable energy to ensure sustainability and reduce carbon emissions," said Chris Fallon, president of Duke Energy Renewables. "Duke Energy is uniquely positioned to offer sustainable solutions that meet the important needs of our customers. We're proud to work with Firestone Walker to deliver an on-site solar solution and offer financing that will address their needs for decades to come."
The solar array, which is located adjacent to the brewery in Paso Robles, Calif., features ground-mounted single-axis trackers that maximize solar energy production and is projected to generate 4,055 megawatt-hours (MWh) of electricity in its first year. The second 281-kilowatt array consists of a solar carport spanning 14,000 square feet just south of the brewery, increasing the brewery's total solar production to 4,570 MWh of electricity generated in its first year. In its entirety, the solar installation is enough to offset 3,231 metric tons of carbon emissions.
Project planning began in late 2016, with groundbreaking in April 2020. In addition to the solar arrays, the project includes utility substation upgrades that will make it easier for other local organizations seeking to go solar to tap into the power of renewable energy.
"We have made a 25-year forward commitment to this project, and we hope that our embrace of solar energy, along with scores of others in our community, will encourage more to do the same," Walker said.
Duke Energy Renewables/REC Solar
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. REC Solar is a business unit of Duke Energy Renewables. Visit Duke Energy Renewables and REC Solar for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Firestone Walker
Firestone Walker is an innovative California beer company founded in 1996. Firestone Walker's main brewery in Paso Robles produces a diverse portfolio ranging from iconic pale ales to vintage barrel-aged beers. The Barrelworks facility in Buellton makes eccentric wild ales, while the Propagator pilot brewhouse in Venice specializes in R&D beers and limited local offerings. Firestone Walker is also the brewery behind 805, one of the nation's fastest-growing beers. More at FirestoneBeer.com.
Contact: Jennifer Garber
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/13/2021Duke Energy and its customers provide financial assistance for winter heating bills
Source: PR Newswire
CHARLOTTE, N.C., Dec. 16, 2020 /PRNewswire/ -- The COVID-19 pandemic has stretched many families' finances past the breaking point this year, and colder weather may have many facing increases in their energy bills this winter season. Duke Energy is committed to helping customers who are in need with financial assistance through its various community assistance funds. Duke Energy customers across North Carolina, South Carolina, Ohio, Kentucky, Indiana and Florida are also helping by contributing to energy assistance programs.
In the last five years, Duke Energy has contributed more than $22 million combined in winter heating assistance funds for its customers in six states, including a mix of shareholder dollars, Duke Energy Foundation funds and customer donations.
Using the theme "We're All Connected," Duke Energy encourages customers, employees and shareholders to donate whatever they can to help ensure that no one has to worry about staying warm this winter.
"A gift to these customer assistance programs, even as small as $1, helps improve the lives of seniors and families who struggle to pay their heating bills," said Barbara Higgins, Duke Energy senior vice president and chief customer officer. "The company also matches contributions dollar for dollar, which extends assistance to even more customers."
Share the Warmth (customers in Duke Energy Carolinas)
Energy Neighbor Fund (customers in Duke Energy Progress)
Helping Hand (customers in Duke Energy Indiana)
HeatShare (customers in Duke Energy Ohio)
WinterCare (customers in Duke Energy Kentucky)
Energy Neighbor Fund (customers in Duke Energy Florida)
Customers and employees in all Duke Energy jurisdictions may donate on their bill by marking the donation in the designated section, mailing a check or money order or paperless billing customers may donate online when paying their monthly bill. Click on the link above that matches your jurisdiction or state for more details.
To see how Duke Energy's winter assistance programs benefit customers and communities, visit:
Winter Energy-Saving Tips
For more information on how to cut costs and stay warm this winter, visit 10 ways to save energy and lower your bill in cold weather | Duke Energy | illumination (duke-energy.com). Duke Energy also offers energy efficiency products, services and information to help customers save energy and money at duke-energy.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour contact:
800.559.3853
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SOURCE Duke Energy
Article Date
12/16/2020Duke Energy responds to N.C. Supreme Court ruling on coal ash costs
Source: PR Newswire
CHARLOTTE, N.C., Dec. 11, 2020 /PRNewswire/ -- Duke Energy issued the following statement in response to today's ruling by the North Carolina Supreme Court in a case regarding a 2018 North Carolina Utilities Commission order that had addressed costs associated with coal ash management and safe basin closure:
"The N.C. Supreme Court's decision is a positive step forward by affirming that our coal ash management practices are a prudent part of supplying customers with reliable electricity. We are pleased that the court affirmed the North Carolina Utilities Commission's decision that it is appropriate to recover these costs.
"It's important to note that electric rates in North Carolina remain below the national average, and we work hard every day to keep rates as low as possible.
"We continue to agree with the commission's rejection of the Public Staff's cost-sharing approach in several previous rate case orders, and we look forward to the commission providing more details regarding the basis for its decision on the single issue remanded to it, pursuant to the court's opinion."
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact – 800.559.3853
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SOURCE Duke Energy
Article Date
12/11/202012/10/2020 - W. M. Keck Observatory and Duke Energy's REC Solar announce completion of major sustainability project in Hawaii
W. M. Keck Observatory and Duke Energy's REC Solar announce completion of major sustainability project in Hawaii
Source: PR Newswire
CHARLOTTE, N.C. and MAUNA KEA, Hawaii, Dec. 10, 2020 /PRNewswire/ -- Duke Energy's REC Solar and W. M. Keck Observatory have completed the world's largest commercial solar system installed at the record-breaking altitude of 13,600 feet.
The rooftop solar project – located near the summit of Mauna Kea, a dormant volcano on the Big Island of Hawaii – will reduce Keck Observatory's carbon footprint and lower its cost of energy.
The solar photovoltaic (PV) system is located on the rooftop of Keck Observatory's telescope facility, between the domes of the twin Keck I and Keck II – among the world's largest optical and infrared telescopes. The system will annually produce 259.1 MWh of energy, which will reduce the observatory's electric power needs by about 10-15% and eliminate 183 metric tons of carbon emissions.
"Incorporating renewable energy generators such as solar PV is important to Keck's core values of stewardship and service. It will reduce our reliance on electricity derived mainly from fossil fuels, which underscores our efforts to be good stewards of the planet," says project lead Mark Devenot, infrastructure specialist at Keck Observatory.
Hawaiian Electric approved operation of the PV system on Sept. 30, 2020. The system consists of a 133-kW photovoltaic array and 332 solar panels that are strategically placed on the unique 20,940-square-foot ballasted roof to avoid snow and ice fall from the domes, as well as high winds that occasionally occur a few times a year.
"One of the biggest challenges was attaching the PV array to this type of roof, which has no structural framework to anchor the system," says Devenot.
To address this issue, the solar system was custom engineered for the unique ballasted roof design and to support high winds. The team also had to deal with working at high altitude, which averaged 40% less oxygen than at sea level.
"Incorporating rooftop solar at Keck Observatory has been a special experience for the REC Solar team due to the project's focus on science, safety and innovation," says Dan Alcombright, managing director, growth implementation at Duke Energy. "Our team remained respectful of land and wind limitations throughout construction and leveraged our local experience and detailed weather data to engineer solar with specialized mechanical attachments that can handle the wind gusts and climate of a Pacific island at high altitude. We're pleased to be able to provide Keck with a viable energy solution that positively impacts both their organization and the environment."
At high altitude, the panels will catch more photons and produce more energy than at sea-level locations. This is because sunlight atop Mauna Kea doesn't have to travel through as much of the Earth's atmosphere where the photons could be absorbed by something else. Having 40% less atmosphere, which is one of the reasons that makes Mauna Kea one of the best places on Earth to conduct astronomy, also makes for efficient solar energy generation.
REC Solar has developed more than 100 commercial and utility-scale solar projects across the Hawaiian Islands, including Keck Observatory's Waimea headquarters in 2013. This new rooftop solar installation at Keck Observatory's telescope facility on Mauna Kea provides a unique research opportunity for the team to gather data on how solar panels operate in a thinner atmosphere with a high UV index and under higher than average winds. The team will continue to monitor and analyze these conditions for future solar installations at high altitudes.
W. M. Keck Observatory
The W. M. Keck Observatory telescopes are among the most scientifically productive on Earth. The two 10-meter optical/infrared telescopes on the summit of Mauna Kea on the Island of Hawaii feature a suite of advanced instruments including imagers, multi-object spectrographs, high-resolution spectrographs, integral-field spectrometers, and world-leading laser guide star adaptive optics systems. Keck Observatory is a private 501(c) 3 non-profit organization operated as a scientific partnership among the California Institute of Technology, the University of California, and the National Aeronautics and Space Administration. The Observatory was made possible by the generous financial support of the W. M. Keck Foundation. The authors wish to recognize and acknowledge the very significant cultural role and reverence that the summit of Mauna Kea has always had within the Native Hawaiian community. We are most fortunate to have the opportunity to conduct observations from this mountain. For more information, visit: www.keckobservatory.org.
Duke Energy Renewables / REC Solar
REC Solar is a business unit of Duke Energy Renewables, a nonregulated affiliate of Duke Energy (DUK) that operates 3,000 MW of wind and solar generation facilities across the U.S. Based in San Luis Obispo, Calif., with offices in Petaluma, Calif., and Honolulu, Hawaii, REC Solar has installed over 800 solar, energy storage, microgrid, and EV fleet charging sites for commercial, public sector and utility-scale customers. The company provides design, engineering, financing, operations and maintenance services, allowing for a simplified customer experience. Visit Duke Energy Renewables or REC Solar for more information.
Media contact: Jennifer Garber
Media line: 800.559.3853
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SOURCE Duke Energy
Article Date
12/10/202012/10/2020 - More than $460,000 available for Duke Energy's Indiana customers who need help paying winter electric bills
More than $460,000 available for Duke Energy's Indiana customers who need help paying winter electric bills
Source: PR Newswire
PLAINFIELD, Ind., Dec. 10, 2020 /PRNewswire/ -- Duke Energy has more than $460,000 dedicated to its Indiana customers who are struggling to pay their electric bills this winter. The funds come from corporate contributions and customer donations.
"Programs like this have never been more important than now," said Duke Energy Indiana President Stan Pinegar. "Cold weather has arrived, and many of our customers are still struggling with the economic hardships of this pandemic. In 2020, we have dedicated more than $600,000 in energy bill assistance, which includes pandemic bill relief funds distributed earlier this year."
Duke Energy works with the Indiana Community Action Association and the Indiana Housing and Community Development Authority's Energy Assistance Program, which determines eligibility and distributes the company's assistance funds. Qualifying Duke Energy customers who may be struggling to pay their electricity bills can receive up to $300. Because of high demand, customers should first check with their local agency to make sure there are still funds available locally. Click here to find a listing of service providers by county.
"The Community Action Agency network is thankful to partner with Duke Energy to support the many Hoosier households facing economic challenges in this difficult year," said Ed Gerardot, executive director of the Indiana Community Action Association. "The contributions from Duke Energy and its customers will ease the hardship for many families."
For more information on the Helping Hand program, including eligibility for funds, participating agencies and how to make a donation, visit duke-energy.com/community/customer-assistance-programs/helping-hand.
Winter energy-saving tips
For more information on how to cut costs and stay warm this winter, visit duke-energy.com/home/savings/winter-heating-energy-savings. Duke Energy also offers energy efficiency products, services and information to help customers save energy and money. For more information, visit duke-energy.com.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to more than 850,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/10/2020Duke Energy Renewables invests in bald eagle research, education in Oklahoma
Source: PR Newswire
CHARLOTTE, N.C., Dec. 10, 2020 /PRNewswire/ -- During bald eagle nesting season, avian enthusiasts agree the best things come in pairs.
That's especially true this season as Duke Energy Renewables has partnered with Sutton Avian Research Center in Oklahoma on the installation of the center's second eagle nest camera, now livestreaming video at suttoncenter.org.
Duke Energy Renewables provided grants totaling $37,500 to support the Sutton Center's original camera in Sequoyah National Wildlife Refuge – the longest consistently running nest camera in the nation – and fund the installation of a second nest camera in rural Bartlesville, just half a mile from the Sutton Center.
The second camera is now live on the Sutton Center website, and an adult eagle and a juvenile eagle have been spotted in the area. In Oklahoma, eagles typically refresh the nest in late fall or early winter, with eggs appearing in December or January.
The Sutton Center is well-known for its avian research and successful bald eagle recovery programs. It is credited with restoring Oklahoma's bald eagle population from zero nesting pairs in the 1980s to more than 200 nesting pairs today.
"People care more when they can connect with the natural world," said Lena Larsson, Ph.D. and the executive director at the Sutton Center. "Duke Energy Renewables' grant supports the Center's mission to find cooperative conservation solutions for birds and the natural world through science and education. Especially now when people are staying inside to avoid the coronavirus, providing a safe window for experiencing nature up close is tremendously important."
Duke Energy Renewables is one of the nation's top renewable energy providers. It is a commercial business unit of Duke Energy (NYSE: DUK), a leader in developing national best practices to reduce bird impacts at wind facilities and from power lines.
"The incredible work of the Sutton Center complements our own efforts to prioritize the conservation of wildlife where our renewable energy projects are located, including Frontier Windpower II in Oklahoma and the eagle protection measures we've implemented there," said Chris Fallon, president of Duke Energy Renewables. "We're proud to be an active participant in the Sutton Center's education efforts as we deliver on our mission to provide safe, clean, renewable energy in a sustainable way."
Frontier Windpower II
In 2019, Duke Energy Renewables announced the largest wind power project in its fleet – the 350-megawatt (MW) Frontier Windpower II project in Kay County, Okla., which is nearing completion.
Frontier II is an expansion of Frontier Windpower, which has been operational since 2016. The Frontier II project will incorporate IdentiFlight, an advanced technology that quickly detects eagles and slows a turbine to prevent collisions, as part of the company's comprehensive eagle management plan.
Once complete, Frontier I and II will generate a total of 550 MW of wind energy – enough clean energy to power approximately 193,000 homes.
Front-row seat
The Sutton Center's bald eagle cameras provide web users around the globe a front-row seat to the birds' real-time nesting activities; nesting season for Oklahoma bald eagles extends from November to June.
Known to mate for life and live for decades, bald eagles can boast wingspans of up to 8 feet. Bonded pairs often return to the same nesting site year after year, where eagle cams can reveal their unique personalities, courting rituals, egg laying, incubation habits, feeding strategies, and the sometimes heartbreaking survival challenges of eaglets.
Sutton Research Center
The George Miksch Sutton Avian Research Center (Sutton Center) is a private, nonprofit organization located near Bartlesville, Okla. It was founded in 1983 with the mission of finding cooperative conservation solutions for birds and the natural world through science and education. The Sutton Center focuses on educating young people and enriching their lives through free, inclusive and accessible education programs that work in concert with our wildlife recovery efforts.
The Sutton Center has become a leader in avian research and conservation and has conducted intensive, conservation-oriented, ecological field research on declining grassland birds, developed and applied techniques for the reintroduction and monitoring of Southern bald eagles, managed the successful captive breeding of endangered species and performed bird surveys across the world. For more information about supporting its mission, visit suttoncenter.org, email info@suttoncenter.org, or follow Sutton Center on Facebook and Instagram.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Bill Norton
Direct: 980.373.7276 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/10/2020Siemens Energy teams up with Duke Energy, Clemson University to study hydrogen use
Source: PR Newswire
GREENVILLE, S.C., Dec. 10, 2020 /PRNewswire/ -- Siemens Energy, Duke Energy and Clemson University have teamed up to study the use of hydrogen for energy storage and as a low- or no-carbon fuel source to produce energy at Duke Energy's combined heat and power plant at Clemson University in South Carolina.
The U.S. Department of Energy announced today that it awarded Siemens Energy a $200,000 grant for the research initiative.
The pilot project, called H2-Orange – a nod to hydrogen gas and the collaboration with Clemson University – will ramp up in March 2021 and include studies on hydrogen production, storage and co-firing with natural gas.
The studies will evaluate multiple forms of hydrogen production, including green hydrogen, which is created from water and has no byproducts. Hydrogen also has the potential to store larger quantities of energy more efficiently and for longer durations than current lithium-ion battery technology.
"We look forward to developing an advanced hydrogen energy storage system to reduce the carbon footprint on the Clemson University campus, while optimizing the cost of energy for the campus and microgrid," said Richard Voorberg, vice president of global service operations at Siemens Energy. "We want to be a driver of the energy transition, and this is a great step toward building reliable and efficient clean energy infrastructure in the U.S."
This unique arrangement combines the experience, expertise and perspectives of Siemens Energy as the technology developer, Clemson University as the beneficiary and Duke Energy as the owner and operator of the asset.
Siemens Energy will study the use of its Silyzer electrolyzer to produce hydrogen fuel to help power the existing SGT-400 natural gas turbine at the Clemson plant. The Silyzer can use renewables and clean energy sources to create hydrogen without producing emissions. Clemson University will lead the integration of hydrogen into the campus grid and ensure energy needs are met, and Duke Energy will provide operational, engineering and grid modeling expertise. Duke Energy also expects the results of the study to be applicable to its larger combustion turbine fleet.
"Hydrogen integration is a possibility at many of our natural gas stations," said Regis Repko, Duke Energy's senior vice president and chief fossil/hydro officer. "The best way to innovate is through teamwork, and this research could influence the future of energy – reducing reliance on fossil fuels, decreasing energy costs and benefiting the environment and all energy users."
For years, Duke Energy has actively evaluated hydrogen as a low- or no-carbon fuel source to help the company meet its bold net-zero carbon goal by 2050. Siemens Energy and Clemson University also have net-zero carbon goals to reach by 2030.
"This collaboration supports our institutional goal to be carbon neutral while advancing the development of energy technologies that could have far-reaching societal benefit," said Tanju Karanfil, Clemson University vice president for research. "We are proud to collaborate with industry leaders Duke Energy and Siemens Energy and appreciate their interest in this project."
Additional information – www.siemens–energy.com/press
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Siemens Energy
Siemens Energy is one of the world's leading energy technology companies. The company works with its customers and partners on energy systems for the future, thus supporting the transition to a more sustainable world. With its portfolio of products, solutions and services, Siemens Energy covers almost the entire energy value chain – from power generation and transmission to storage. The portfolio includes conventional and renewable energy technology, such as gas and steam turbines, hybrid power plants operated with hydrogen, and power generators and transformers. More than 50 percent of the portfolio has already been decarbonized. A majority stake in the listed company Siemens Gamesa Renewable Energy (SGRE) makes Siemens Energy a global market leader for renewable energies. An estimated one-sixth of the electricity generated worldwide is based on technologies from Siemens Energy. Siemens Energy employs
more than 90,000 people worldwide in more than 90 countries and generated revenue of around €27.5 billion in fiscal year 2020. www.siemens-energy.com.
Clemson University
One of the most productive public research universities in the nation, Clemson University attracts and powerfully unites students and faculty whose greatest desire is to make a difference in the lives of others. Ranked among the best national public universities by U.S. News & World Report, Clemson is dedicated to teaching, research and service. Our main campus, located in Upstate South Carolina, sits on 1,400 acres in the foothills of the Blue Ridge Mountains, along the shores of Lake Hartwell. We have a presence in every South Carolina county through research facilities, economic development hubs and innovation campuses. Through the research, outreach and entrepreneurial projects led by our faculty and students, Clemson University is driving economic development and improving quality of life in South Carolina and beyond. For more information, go to clemson.edu or visit us on Facebook, Instagram or Twitter.
Media contacts:
Duke Energy
Heather Danenhower
Cell: 352.497.4534
24-Hour Media Line: 800.559.3853
Email: heather.danenhower@duke-energy.com
Siemens Energy
Stacia Licona
Cell: 281.721.3402
Email: stacia.licona@siemens-energy.com
Clemson University
Tara Romanella
Cell: 310.869.5530
Email: tromane@clemson.edu
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SOURCE Duke Energy
Article Date
12/10/2020Duke Energy Foundation awards $150,000 to Indiana Natural Resources Foundation for new features at Ravinia State Forest
Source: PR Newswire
PLAINFIELD, Ind., Dec. 8, 2020 /PRNewswire/ -- The Duke Energy Foundation has awarded a $150,000 grant to the Indiana Natural Resources Foundation (INRF) for new features and upgrades at Ravinia State Forest in Morgan County, near Paragon, Ind.
The Indiana Department of Natural Resources (DNR) state forest encompasses 1,500 acres of rolling hills and valleys.
Projects include improvements to three parking lots, two new shelter houses featuring electric service and running water, signage and drainage improvements to the trail system, and the addition of picnic tables and grills, among other features.
"Duke Energy has a long, proud history of partnering with the DNR and we are pleased to be an early supporter of Indiana's newest recreational site," said Stan Pinegar, Duke Energy state president for Indiana.
"Duke Energy is a wonderful partner to the DNR and the Indiana Natural Resources Foundation," said Jody Kress, INRF executive director. "Their support is helping create better public access during a time of increased need for safe outdoor recreation opportunities."
"Ravinia has been an important part of our Hoosier heritage and history for the last 120 years," said Dan Bortner, director at the Indiana Department of Natural Resources. "This incredibly generous gift by the Duke Energy Foundation will greatly assist the INRF in their work to preserve our natural legacy and create new opportunities for future generations to make memories and find inspiration."
The new projects at the state forest are scheduled to begin in spring 2021 with completion scheduled for summer 2022.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to approximately 850,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than more than $2 million in Indiana annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
INRF contact: Julia Hodson
Office: 317.473.1211 | Email: jhodson@dnr.IN.gov
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SOURCE Duke Energy
Article Date
12/8/2020Duke Energy Progress customers in North Carolina will see bills go down in December
Source: PR Newswire
RALEIGH, N.C., Dec. 3, 2020 /PRNewswire/ -- Duke Energy Progress customers in North Carolina will see more than $4 in savings on their monthly energy bills beginning in December due to the combined impact of annual rate adjustments.
Overall, energy costs will decrease 3.9% for residential customers, 3.6% for commercial customers and 2.3% for industrial customers.
The total monthly impact for a typical residential customer using 1,000 kilowatt-hours (kWh) per month will be a decrease of $4.59 – from $116.87 to $112.28.
The lower rates, as approved by the North Carolina Utilities Commission, are a result of annual adjustments for costs related to fuel used to generate electricity at power plants.
These annual adjustment also reflect compliance with the state's renewable energy portfolio standard, cost recovery under the Joint Agency Asset Rider, and implementation of the competitive procurement of renewable energy statute.
Rates will also adjust slightly in January to incorporate costs associated with implementation of energy efficiency and demand-side management programs.
Duke Energy Progress serves about 1.4 million customers in central and eastern North Carolina and in the Asheville region.
More help for customers
Duke Energy Progress continues to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts includes:
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/3/202011/19/2020 - Duke Energy announces leadership changes
Duke Energy announces leadership changes
Source: PR Newswire
CHARLOTTE, N.C., Nov. 19, 2020 /PRNewswire/ -- Duke Energy today announced several executive changes, including a newly formed chief generation officer role, to further drive the company's ambitious strategy to achieve net-zero carbon emissions by 2050. In addition, the company also named new leaders in the critical areas of corporate security, risk management and ethics and compliance.
The six executives involved in the moves bring diverse backgrounds, expertise and experience that will further advance Duke Energy's industry leadership.
The changes are effective Dec. 1, 2020.
Preston Gillespie, currently senior vice president and chief nuclear officer, will become senior vice president and chief generation officer. In this new role, Gillespie will be responsible for integrating the company's nuclear, fossil, hydro and regulated renewable generation strategies to support Duke Energy's target of net-zero carbon emissions by 2050. A 30-year industry veteran, Gillespie has held a variety of leadership roles across the Duke Energy nuclear fleet, including operations shift manager, operations manager, plant manager, site vice president and senior vice president of nuclear operations.
Kelvin Henderson, currently senior vice president of North Carolina nuclear operations, will replace Gillespie as senior vice president and chief nuclear officer. Henderson has spent more than two decades in the nuclear industry and has a deep knowledge of nuclear operations, given his roles as senior reactor operator, maintenance manager, plant manager and site vice president. He also oversaw the company's corporate nuclear operations, driving efficiencies and operational excellence and will spearhead subsequent relicensing of these carbon-free assets.
Ben Waldrep, currently senior vice president and chief security officer, will assume Henderson's role, leading the North Carolina nuclear operations. This includes managing the operations of Duke Energy's McGuire, Brunswick and Harris nuclear stations. He also managed the company's corporate nuclear operations, overseeing the integration of Progress Energy and Duke Energy's nuclear fleets. Prior to his most recent role, Waldrep had a long history of leading teams in the nuclear industry, with more than 30 years in the energy sector.
Keith Butler, currently senior vice president, global risk management and insurance, chief risk officer and acting chief ethics and compliance officer, will become senior vice president and chief security officer. Butler will bring more than 35 years of experience in risk management, finance, accounting and operations to this critical leadership role for Duke Energy and the broader energy industry. He will oversee the company's cybersecurity, physical security, threat management and emergency planning functions and integrate with other peer utilities to help ensure critical infrastructure remains well protected.
Katie Aittola, currently managing director of supply chain risk, continuous improvement and governance, will become vice president, global risk management and insurance and chief risk officer. Aittola joined Duke Energy in 2009 and her background includes more than a decade in corporate development, financial planning and analysis and supply chain, which will serve her well as she leads the team responsible for identifying, evaluating and mitigating risks across the company.
Melissa Feldmeier, currently deputy general counsel, will be named vice president and chief ethics and compliance officer. Feldmeier has been a part of Duke Energy's legal team since 2001. She most recently provided legal counsel on human resources matters, serving as a trusted advisor to many senior leaders and distinguishing herself as a strong advocate to oversee Duke Energy's ethics program, data privacy and compliance standards.
"These executives exemplify the diverse, knowledgeable and experienced leadership we value at Duke Energy," said Lynn Good, Duke Energy chair, president and CEO. "Each of these leaders is dedicated to serving our customers, inspiring our people and advancing the company's strategic goals."
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
11/19/2020Duke Energy joins utilities across the continent to protect customers from scams
Source: PR Newswire
CHARLOTTE, N.C., Nov. 16, 2020 /PRNewswire/ -- The phone rings. It's Duke Energy. We're on the way to disconnect your electric service unless you pay us over the phone right now. You follow the instructions and – just like that – you've been scammed.
Sadly, this is not an uncommon phone call. That's why Duke Energy has again joined forces with utilities across the continent to bring awareness to these criminal scam tactics on the fifth annual Utility Scam Awareness Day on Nov. 18. Utility Scam Awareness Day is part of the week-long International Scam Awareness Week, an advocacy and awareness campaign focused on educating customers and exposing the tactics used by scammers.
"As the COVID-19 pandemic continues, it's absolutely critical to remind all utility customers to beware of impostors attempting to scam them," said Jared Lawrence, Duke Energy's vice president of revenue services and metering. "We've made great progress as an industry in getting the word out the past few years, and the numbers continue to improve. But so do the scammers, and that's why we must continue to keep our customers informed and aware so they don't become the next victims. Together, we can stop scams."
Recognized annually, Utility Scam Awareness Day was created by Utilities United Against Scams (UUAS), a consortium of nearly 150 U.S. and Canadian electric, water, and natural gas companies and their respective trade associations.
Scamming through the pandemic
Duke Energy – a founding member of UUAS – and the consortium's other member companies have seen an increase in scam attempts appearing to take advantage of the uncertainty of the pandemic. In addition to the frequent impostor scam, some new tactics include bogus COVID-19 references to steal personal information. Although impostors continue to target utility customers, UUAS members and partners have succeeded in taking nearly 9,400 scam telephone numbers out of operation.
"At the height of the pandemic, scammers preyed on Duke Energy customers with an alarming frequency," Lawrence said. "The good news? Most people didn't fall for it."
When the UUAS campaign started in 2016, more than 9 percent of Duke Energy customers who reported scams lost money, and so far this year less than 3 percent have reported falling for scams. That's still nearly $400,000 of hard-earned money lost to scammers in less than a year, and the reason why more work needs to be done to get the word out.
"Customers need to be on high alert as we continue to see impostor utility scams rise across North America," said UUAS Executive Director Monica Martinez. "Scammers demand money or personal information on the spot – usually with threatening language – and indicate that service will be disconnected immediately. Anyone and everyone, from senior households to small business owners, is at risk of being targeted."
UUAS advises customers who suspect that they have been victims of fraud or who feel threatened during contact with a scammer to contact their local utility or law enforcement authorities. Here are tips to protect yourself from falling victim to utility scams:
Know what to look for
Common scam tactics include:
Protect yourself
Visit Duke Energy's brand journalism site, illumination, to learn more about Lawrence's involvement in founding Utilities United Against Scams and to download a call from a customer who reported being scammed.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
11/16/202011/16/2020 - Duke Energy named one of North America's top sustainable companies for 15th straight year
Duke Energy named one of North America's top sustainable companies for 15th straight year
Source: PR Newswire
CHARLOTTE, N.C., Nov. 16, 2020 /PRNewswire/ -- With its expansion of renewable energy and significant reduction in carbon emissions, combined with its continued focus on social responsibility, Duke Energy was recently named to the Dow Jones Sustainability Index (DJSI) for North America for the 15th consecutive year.
"Trust begins with transparency and our stakeholders want to see our progress on the environmental, social and governance topics that matter most," said Katherine Neebe, Duke Energy's chief sustainability officer and president, Duke Energy Foundation. "As we focus on delivering affordable, reliable and increasingly clean energy for our customers and communities, it's an honor to be named to the Dow Jones Sustainability Index for 15 straight years."
Since 1999, the DJSI has evaluated the sustainability of leading companies worldwide.
In selecting the top performers in each business sector, the DJSI reviews companies on several general and industry-specific topics related to economic, environmental and social dimensions.
Among the topics are corporate governance, innovation management, environmental policy, climate strategy, human capital development and corporate citizenship.
The index is compiled annually by S&P Dow Jones and S&P Global.
Since 2007, Duke Energy has published an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more.
The 2019 report is available online.
Some of the company's environmental, social and governance highlights:
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
11/16/202011/12/2020 - Duke Energy crews restore power, assess damage following fast-moving Tropical Storm Eta
Duke Energy crews restore power, assess damage following fast-moving Tropical Storm Eta
Source: PR Newswire
ST. PETERSBURG, Fla., Nov. 12, 2020 /PRNewswire/ -- As Tropical Storm Eta moves offshore over the Atlantic waters, Duke Energy crews are assessing storm damage and restoring power where conditions allow.
Heavy rain, strong winds and storm surge have resulted in outages in several areas. The storm has brought downed trees and power lines, broken poles and other weather-related outages.
More than 2,800 repair workers will be involved with restoration efforts. Duke Energy crews from Ohio, Kentucky, Indiana and the Carolinas have traveled to the state to assist. This also includes supplemental repair crews from other electric utility companies through the Southeastern Electric Exchange.
As of 3 p.m., approximately 10,000 customers are without power. During this event, 110,000 outages have been restored. We expect to have 95% of customers restored before midnight tonight. Those in the hardest-hit areas may extend into Friday.
More specific restoration times will be provided later today for customers still without power. In some of the hardest-hit areas, the estimated time will indicate when we expect to have all service restored to that community. Please know that many customers will be back on before then. Duke Energy will provide estimated power restoration times for specific counties and communities as those estimates have been determined – at duke-energy.com/outages/current-outages.
In addition to making repairs, Duke Energy crews are surveying the extent of damage to utility poles and power lines. Damage assessment is an important part of the power restoration process as it helps determine where the company will deploy its workers, equipment and other resources.
"I want to thank our customers for their patience and understanding as our crews work to safely restore power as quickly as possible, while also adhering to COVID-related safe work practices," said Jason Cutliffe, Duke Energy's Florida incident commander. "We know this is a particularly difficult time for our customers to lose power, as many are working from home and attending school remotely due to the pandemic."
Workers will adhere to CDC recommendations for COVID safe work
During non-pandemic times, restoring power after a storm can be difficult for utility repair crews as travel and work conditions can be affected by high winds, fallen trees and flooding.
Now, in addition to addressing those standard challenges, Duke Energy's detailed storm response plan has incorporated the Centers for Disease Control and Prevention's (CDC's) recommendations for COVID safe work practices and physical distancing measures to help keep customers and communities safe.
Duke Energy requests that customers remain outside of marked work zones and refrain from approaching repair crews.
Outage alerts and reporting power outages
Customers can sign up to receive outage alerts and ensure contact information is current and communication preferences specified.
Customers who experience a power outage can report it the following ways:
Important safety tips and reminders
Duke Energy encourages customers to have a plan in place if they experience a power outage. Below are tips to help you and your family stay safe.
More tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
High-water safety reminders
Power restoration process
Duke Energy focuses on restoring power in a sequence that enables power restoration to public health and safety facilities and to the greatest number of customers as safely and quickly as possible. Click here for information on how Duke Energy restores power.
Tips to protect refrigerated food during power outages
For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Allison Barker
800.559.3853
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SOURCE Duke Energy
Article Date
11/12/202011/10/2020 - Duke Energy Florida's Powering Through Together partnership with the Tampa Bay Rays raises $123,000
Duke Energy Florida's Powering Through Together partnership with the Tampa Bay Rays raises $123,000
Source: PR Newswire
ST. PETERSBURG, Fla., Nov. 10, 2020 /PRNewswire/ -- The Tampa Bay Rays hit it out of the park this year, scoring $123,000 in donations, winning the American League Championship and making it an unforgettable season.
Thanks to the Powering Through Together partnership between Duke Energy Florida (DEF) and the Tampa Bay region's Major League Baseball team, DEF donated $1,000 per home run to support 211 Tampa Bay Cares. DEF doubled the donation to $2,000 per home run during post-season play.
"Congrats to the Tampa Bay Rays for bringing home the American League Championship title! Our home team scored big for our Powering Through Together partnership which has allowed us to help countless families facing financial challenges and personal hardships through these difficult times," said Catherine Stempien, Duke Energy Florida president.
The 211 Tampa Bay Cares organization connects the community with important health and social services during these difficult times.
"We are proud and excited to partner with Duke Energy and the Tampa Bay Rays and provide additional resources to our community when they need it most," said Kathleen Roache, Crisis Center Supervisor at 211 Tampa Bay Cares. "This donation will help us support many of our families and individuals with some of their most essential needs during these challenging times."
The 211 Tampa Bay Cares free service can help people find local community agencies that provide assistance to meet a wide range of needs, including housing, food, child care, medical expenses and utility bills.
"We are thrilled that together with our longtime partners at Duke Energy, the Rays success in 2020 can help to support families in our community," said Rays President Brian Auld. "This program also offers an opportunity to highlight the important work of 211 Tampa Bay Cares."
Residents who need financial assistance are encouraged to visit duke-energy.com/together to locate available resources. You can also learn more on illumination.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy (NYSE: DUK), owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Tampa Bay Rays
The Tampa Bay Rays mission is to energize the community through the magic of Rays baseball. The organization is committed to building a strong community bond through meaningful interactions and charitable donations, and has proudly represented Major League Baseball since 1998.
Duke Energy Media Contact: Ana Gibbs
Cell: 813.928.7263 l 24-Hour: 800.559.3853
Tampa Bay Rays Media Contact: Rafaela A. Amador
Office: 727.825.3236
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SOURCE Duke Energy
Article Date
11/10/2020Duke Energy provides $1 million in grants to support 40 organizations focused on social justice, racial equity in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Nov. 10, 2020 /PRNewswire/ -- Duke Energy today announced the recipients of $1 million in grants through the Duke Energy Foundation to nonprofit organizations committed to social justice and racial equity in North Carolina.
$25,000 grants will be distributed to 40 organizations across North Carolina.
"We all have a role and responsibility in advancing justice and equity," said Stephen De May, Duke Energy's North Carolina president. "Duke Energy is committed to creating equal opportunities for the communities we serve, and we're proud to support organizations already leading this critical work across North Carolina."
Earlier this year, the company committed to an annual social justice and racial equity grant cycle for at least three years in North Carolina. This is in addition to the more than $1 million the company provided in support of racial equity across all jurisdictions in August.
One example of an organization receiving support in North Carolina to reduce disparate outcomes is the Brunswick County NAACP.
"We at the Brunswick County NAACP branch are very thankful for the gracious support of the Duke Energy Foundation," said Carl Parker, local branch president for the NAACP. "Because all people have color, this type of support and investment from local partners such as Duke Energy allows us to work toward our mission to secure political, educational, social and economic equality of rights in order to eliminate race-based discrimination and ensure the health and well-being of all persons."
Duke Energy is also strengthening its internal diversity and inclusion programs to foster greater awareness, respect and inclusion.
The $1 million in grants and expanded internal programs build upon the company's past efforts to support and encourage diversity, equity and inclusion in the company and the communities it serves.
Duke Energy will continue to engage local organizations and leaders to understand how to be a part of the long-term solution to the social justice issues our communities face.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Shawna Berger
24-Hour: 800.559.3853
Twitter: @DE_ShawnaB
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SOURCE Duke Energy
Article Date
11/10/2020Duke Energy reports third-quarter 2020 financial results
Source: PR Newswire
CHARLOTTE, N.C., Nov. 5, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its third-quarter 2020 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chair, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-204-4368 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 5902971. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 15, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 5902971. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
800.559.3853
Analysts contact: Bryan Buckler
704.382.2640
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-reports-third-quarter-2020-financial-results-301167069.html
SOURCE Duke Energy
Article Date
11/5/202010/31/2020 - Duke Energy restores power to nearly 90% of Carolinas customers who lost electricity due to Tropical Storm Zeta
Duke Energy restores power to nearly 90% of Carolinas customers who lost electricity due to Tropical Storm Zeta
Source: PR Newswire
CHARLOTTE, N.C., Oct. 31, 2020 /PRNewswire/ -- Duke Energy as of 5 p.m. ET today had restored power to nearly 90 percent of the company's more than 500,000 North Carolina and South Carolina customers who lost electricity Thursday at the height of Tropical Storm Zeta.
The company expects to restore power to almost all of the remaining 61,000 customers – 38,000 in North Carolina and 23,000 in South Carolina – by 11 p.m. ET Monday, though many will be restored sooner.
Duke Energy is providing storm information – including estimated power restoration times for specific counties – at https://www.dukeenergyupdates.com/zeta.
The company encourages customers who remain without power to check the online outage map (at link above) and enter an address to find the most up-to-date estimated restoration time for that location.
Nearly 6,500 workers are continuing to make repairs through the weekend.
Duke Energy crews based in the Carolinas, the Midwest and Florida are involved in the power restoration effort, as well as crews from other utility companies in the Southeast and Northeast.
"We greatly appreciate our customers' ongoing patience during this multi-day power restoration process," said Jason Hollifield, Duke Energy's Carolinas incident commander. "Our crews are entering the final phase of restoration, which includes some of the most challenging and lengthy repairs to replace broken utility poles and restring power lines in hard-to-access and often remote areas."
A small number of additional power outages are possible Sunday in the Carolinas as high winds associated with an unrelated weather system move through the region, Hollifield said.
Hardest hit counties
North Carolina's hardest hit counties included: Catawba, Chatham, Cleveland, Davidson, Davie, Forsyth, Gaston, Graham, Guilford, Henderson, Iredell, Lincoln, Macon, McDowell, Mecklenburg, Polk, Randolph, Rockingham, Rowan, Rutherford, Stokes, Swain, Transylvania, Vance and Yadkin.
South Carolina's hardest hit counties included: Anderson, Cherokee, Chesterfield, Greenville, Oconee, Pickens, Spartanburg and York.
Power restoration process
Duke Energy focuses on safely restoring power in a sequence that enables power restoration to public health and safety facilities, and to the greatest number of customers, as quickly as possible. Click here for information on how Duke Energy restores power.
Avoid fallen power lines
The company reminds the public to stay away from fallen or damaged power lines – as they might still be energized and dangerous. Citizens should report downed power lines to Duke Energy immediately. Click here for a video demonstration and to read more about safety around power lines.
Report power outages
Customers who experience a power outage can report using any of the following methods:
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Media contact: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-restores-power-to-nearly-90-of-carolinas-customers-who-lost-electricity-due-to-tropical-storm-zeta-301164328.html
SOURCE Duke Energy
Article Date
10/31/202010/30/2020 - Duke Energy crews restore power to nearly 70% of Carolinas customers impacted by Tropical Storm Zeta
Duke Energy crews restore power to nearly 70% of Carolinas customers impacted by Tropical Storm Zeta
Source: PR Newswire
CHARLOTTE, N.C., Oct. 30, 2020 /PRNewswire/ -- Duke Energy crews have restored power to nearly 70 percent of the company's more than 500,000 North Carolina and South Carolina customers who lost electricity at the height of Tropical Storm Zeta on Thursday.
Nearly 6,500 workers continue restoration work in multiple counties in both states where the storm caused extensive damage to utility poles, power lines and other equipment on Duke Energy's electrical system.
Repair work is expected to continue through the weekend.
Duke Energy crews based in the Carolinas, the Midwest and Florida are involved in the power restoration effort, as well as crews from other utility companies in the Southeast and Northeast.
As of 4:30 p.m. ET today, 165,000 customers – 109,000 in North Carolina and 56,000 in South Carolina – remained without power.
Duke Energy is providing storm information – including estimated power restoration times for specific counties, if those estimates have been determined – at: https://www.dukeenergyupdates.com/zeta.
Customers who are registered for Duke Energy text alerts will receive a text once an estimated restoration time is established for their location. (Sign up to receive outage alerts.)
In addition to making repairs, Duke Energy crews continue to survey the extent of damage in some of the hardest hit areas. Damage assessment is an important part of the power restoration process as it helps determine how the company can most efficiently deploy its workers, equipment and other resources.
"I want to again thank our customers for their patience as our crews work to safely restore power as quickly as possible," said Jason Hollifield, Duke Energy's Carolinas incident commander. "We were fully prepared for this storm as it was originally forecasted, however Mother Nature ended up packing a more powerful punch than anticipated, resulting in more significant damage and a larger number of power outages."
Hardest hit counties
North Carolina's hardest hit counties included: Catawba, Chatham, Cleveland, Davidson, Davie, Forsyth, Gaston, Graham, Guilford, Henderson, Iredell, Lincoln, Macon, McDowell, Mecklenburg, Polk, Randolph, Rockingham, Rowan, Rutherford, Stokes, Swain, Transylvania, Vance and Yadkin.
South Carolina's hardest hit counties included: Anderson, Cherokee, Chesterfield, Greenville, Oconee, Pickens, Spartanburg and York.
Power restoration process
Duke Energy focuses on safely restoring power in a sequence that enables power restoration to public health and safety facilities, and to the greatest number of customers, as quickly as possible. Click here for information on how Duke Energy restores power.
Stay away from fallen power lines
The company reminds the public to stay away from fallen or damaged power lines – as they might still be energized and dangerous. Citizens should report downed power lines to Duke Energy immediately. Click here for a video demonstration and to read more about safety around power lines.
How to report power outages
Customers who experience a power outage can report using any of the following methods:
How to protect refrigerated food during power outages
For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
24-Hour: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-crews-restore-power-to-nearly-70-of-carolinas-customers-impacted-by-tropical-storm-zeta-301164165.html
SOURCE Duke Energy
Article Date
10/30/202010/29/2020 - Duke Energy crews restore power, assess damage across Carolinas following fast-moving Tropical Storm Zeta
Duke Energy crews restore power, assess damage across Carolinas following fast-moving Tropical Storm Zeta
Source: PR Newswire
CHARLOTTE, N.C., Oct. 29, 2020 /PRNewswire/ -- Tropical Storm Zeta's powerful winds raced through North Carolina and South Carolina today, cutting power to more than 500,000 Duke Energy customers at the height of the storm – more than 10 percent of the company's total customers in the two-state region.
More than 2,600 of Duke Energy's Carolinas-based repair workers began what is expected to be a multi-day power restoration process.
Duke Energy also is moving to the Carolinas more than 650 of its Midwest- and Florida-based repair workers to assist. In addition, the company has requested supplemental repair crews from other electric utility companies through the Southeastern Electric Exchange.
As of 5 p.m., 369,000 customers – 264,000 in North Carolina and 105,000 in South Carolina – remained without power.
Duke Energy will provide estimated power restoration times for specific counties – once those estimates have been determined – at duke-energy.com/outages/current-outages.
Customers who are registered for Duke Energy text alerts will receive a text once an estimated restoration time is established for their location. (Sign up to receive outage alerts.)
In addition to making repairs, Duke Energy crews are surveying the extent of damage to utility poles and power lines. Damage assessment is an important part of the power restoration process as it helps determine where the company will deploy its workers, equipment and other resources.
"I want to thank our customers for their patience and understanding as our crews work to safely restore power as quickly as possible, while also adhering to COVID-related safe work practices," said Jason Hollifield, Duke Energy's Carolinas incident commander. "We know this is a particularly difficult time for our customers to lose power, as many are working from home and attending school remotely due to the pandemic."
Hardest hit counties
North Carolina's hardest hit counties include: Catawba, Chatham, Cleveland, Davidson, Davie, Forsyth, Gaston, Graham, Guilford, Henderson, Iredell, Lincoln, Macon, McDowell, Mecklenburg, Polk, Randolph, Rockingham, Rowan, Rutherford, Stokes, Swain, Transylvania, Vance and Yadkin.
South Carolina's hardest hit counties include: Anderson, Cherokee, Chesterfield, Greenville, Oconee, Pickens, Spartanburg and York.
Power restoration process
Duke Energy focuses on restoring power in a sequence that enables power restoration to public health and safety facilities and to the greatest number of customers as safely and quickly as possible. Click here for information on how Duke Energy restores power.
How to report power outages
Customers who experience a power outage can report using any of the following methods:
How to protect refrigerated food during power outages
For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.
Important safety tips
Duke Energy encourages customers to have a plan in place if they experience a power outage. Below are tips to help you and your family stay safe.
More tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
24-Hour: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-crews-restore-power-assess-damage-across-carolinas-following-fast-moving-tropical-storm-zeta-301163523.html
SOURCE Duke Energy
Article Date
10/29/202010/28/2020 - Duke Energy crews ready to respond following Hurricane Zeta as remnants of storm near Carolinas
Duke Energy crews ready to respond following Hurricane Zeta as remnants of storm near Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Oct. 28, 2020 /PRNewswire/ -- With the remnants of Hurricane Zeta expected to travel across North Carolina and South Carolina Thursday, Duke Energy has readied its crews for a multi-day restoration effort and has more than 2,600 workers prepared to respond to power outages, which are expected to primarily affect Upstate South Carolina, western and Piedmont North Carolina.
Additionally, more than 300 workers are prepared and ready to travel tomorrow from the company's Midwest service territory – Indiana, Ohio and Kentucky – and Florida to supplement Carolina-based crews in power restoration, if needed.
Workers will adhere to CDC recommendations for COVID safe work practices
During non-pandemic times, restoring power after a storm can be difficult for utility repair crews as travel and work conditions can be affected by high winds, fallen trees and flooding.
Now, in addition to addressing those standard challenges, Duke Energy's detailed storm response plan has incorporated the Centers for Disease Control and Prevention's (CDC's) recommendations for COVID safe work practices and physical distancing measures to help keep customers and communities safe.
Duke Energy requests that customers remain outside of marked work zones and refrain from approaching repair crews.
We're prepared; we encourage customers to prepare as well
Before a storm hits, customers can sign up to receive outage alerts, and ensure contact information is current and communication preferences specified.
Customers who experience a power outage can report it the following ways:
Important safety tips
Duke Energy encourages customers to have a plan in place if they experience a power outage. Below are tips to help you and your family stay safe.
More tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Preparing for high water along Catawba River
Duke Energy has been lowering lake levels by aggressively moving water through the river system. Lake residents should prepare for possible flooding conditions and closely monitor lake levels. High water conditions can create navigational hazards.
We urge people living along lakes and rivers or in flood-prone areas to use caution, follow directions from emergency managers, pay close attention to changing weather and streamflow conditions and stay informed.
We are posting real-time updates on:
Power restoration process
Duke Energy focuses on restoring power in a sequence that enables power restoration to public health and safety facilities and to the greatest number of customers as safely and quickly as possible. Click here for information on how Duke Energy restores power.
Tips to protect refrigerated food during power outages
For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Media contact: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-crews-ready-to-respond-following-hurricane-zeta-as-remnants-of-storm-near-carolinas-301162186.html
SOURCE Duke Energy
Article Date
10/28/2020Duke Energy announces dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., Oct. 23, 2020 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.965 per share payable on Dec. 16, 2020, to shareholders of record at the close of business Nov. 13, 2020.
The company also declared a quarterly cash dividend on its Series A preferred stock of $359.375 per share payable on Dec. 16, 2020, to shareholders of record at the close of business Nov. 13, 2020. This is equivalent to $0.359375 per depositary share.
Duke Energy has paid a cash dividend on its common stock for 94 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
800.559.3853
Analyst contact: Bryan Buckler
704.382.2640
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-announces-dividend-payments-to-shareholders-301158832.html
SOURCE Duke Energy
Article Date
10/23/2020Duke Energy awards $260,000 to power community needs in Florida
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 20, 2020 /PRNewswire/ -- The Duke Energy Foundation is powering Florida communities with nearly $260,000 in grants to fund accessibility to the arts, promote diversity and inclusion, and address storm preparedness and COVID-19 challenges.
"Giving back to communities where we live and work is fundamental to who we are at Duke Energy," said Catherine Stempien, Duke Energy Florida president. "These grants will support 19 nonprofits that are critical to the vitality of the communities we serve and will help them continue to deliver important services during a pandemic that is reshaping all of our daily lives."
Among this year's recipients is Prospera, an economic development organization offering bilingual assistance to Hispanic entrepreneurs trying to establish or expand their business. Based in Orlando, Prospera provides Hispanic entrepreneurs with training, support and resources to help their businesses grow and prosper.
"Duke Energy has been a supporter and partner of Prospera for several years," said Prospera President and CEO Augusto Sanabria. "We value their belief in our mission and appreciate every investment they make to help us start, sustain and grow more Hispanic-owned businesses to achieve community prosperity. Duke Energy's 2020 grant will enable us to serve and invest resources in more small businesses in Florida that can benefit more than ever from a trusted guide and a helping hand."
Grant Recipients, Programs and Awards
Statewide:
Tampa Bay area:
Greater Orlando area:
Greater Tallahassee/Gainesville area:
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Allison Barker
24-Hour: 800.559.3853
Twitter: @DE_AllisonB
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SOURCE Duke Energy
Article Date
10/20/202010/9/2020 - Duke Energy unveils sweeping clean energy and emissions reduction plan at inaugural ESG day
Duke Energy unveils sweeping clean energy and emissions reduction plan at inaugural ESG day
Source: PR Newswire
CHARLOTTE, N.C., Oct. 9, 2020 /PRNewswire/ -- Duke Energy today announced an extensive expansion of its clean energy and emissions reduction plans to significantly increase the company's carbon and methane reductions, coal plant retirements and renewable energy generation goals.
The sweeping plans were announced at the company's inaugural environmental, social and governance (ESG) day. The virtual investor event featured Duke Energy's senior executives who detailed the company's ESG initiatives and unveiled new programs aimed at enhancing the company's long-term commitment to delivering clean energy to the communities that it serves.
"We are enthusiastic about the prospect of scaling up our clean energy efforts, driving economic growth in our states and growing our business as we collaborate with stakeholders to develop smart energy policy and solutions for the future," said Duke Energy chair, president and CEO Lynn Good. "Our confidence in these new commitments is grounded in Duke Energy's strong record of results."
The 10-year capital investment vision reflects long-term commitment, accelerates decarbonization
As the company executes and continues to evaluate the five-year plan announced in early 2020, the long-term opportunities and capital investment needs are becoming clearer, allowing management to provide a longer, 10-year capital investment vision that aligns with cleaner energy commitments.
This capital plan will enable Duke Energy to:
These actions reinforce Duke Energy's progress to date and laser focus on building a smarter, cleaner energy future across the Carolinas, Midwest and Florida.
The company now expects that its current five-year capital plan will increase by about $2 billion to approximately $58 billion. Beyond that, Duke Energy's 2025 to 2029 capital plan will be in the range of $65 billion to $75 billion as it pursues clean energy and renewables-driven capital needs for its communities. The company is actively mitigating the capital increases by reducing other costs through implementing digital capabilities, leveraging innovation and finding efficiencies across the business – all in an effort to maintain affordable customer bills.
The clean energy transition also provides the capability to grow earnings at the upper end of its current long-term adjusted EPS growth rate of 4 to 6 percent through 2024.
"The growth we're already seeing, as well as the clean energy policies across our jurisdictions, allows us to stretch our capital plan's runway and greatly expand our investments in our generation fleet and grid, which in turn will deliver significant value to our investors and the communities that we serve," said Duke Energy CFO Steve Young.
Duke Energy furthers environmental commitments, announces net-zero methane target by 2030
Duke Energy also announced at its ESG investor day that it will reduce methane emissions in its natural gas business to net-zero by 2030. The company has eliminated all cast iron and bare steel pipes in its natural gas delivery system, removing a major contributor to methane leakage. Further reductions will be achieved by:
Duke Energy has also joined ONE Future, a coalition of natural gas companies working to voluntarily reduce methane emissions, achieving an even greater impact to methane reduction nationwide.
"Working with the industry to address upstream emissions will complement the methane emissions reduction we will achieve in our natural gas business," said Sasha Weintraub, Duke Energy's senior vice president, natural gas business. "This comprehensive approach enables us to better serve the interests of our customers and meet the expectations of investors who value sound environmental practices."
The natural gas segment continues to deliver strong, consistent financial results, has increased customer satisfaction scores and has decreased customer rates. The company expects to expand its renewable natural gas investments over the next decade, aligned with the broader clean energy transition.
Investor day webcast replay details
The replay of the ESG Day webcast and presentation can be viewed at duke-energy.com/esg.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward looking statement
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to:
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Bryan Buckler
704.382.2640
View original content:http://www.prnewswire.com/news-releases/duke-energy-unveils-sweeping-clean-energy-and-emissions-reduction-plan-at-inaugural-esg-day-301149528.html
SOURCE Duke Energy
Article Date
10/9/2020Florida locations selected for Duke Energy's 2020 Site Readiness Program to attract jobs and spur economic development
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 8, 2020 /PRNewswire/ -- Three Florida properties have been selected to participate in Duke Energy's Site Readiness Program. In Florida, the program has led to $165 million in investment and 615 jobs over the last seven years.
The new sites are Tropicana Field Site in Pinellas County, 472 Properties in Volusia County, and Frostproof Business Park Site in Polk County. The Site Readiness Program will prepare these new sites for targeted commercial and industrial development to attract future capital investment. Since 2013, Duke Energy has selected 34 high-quality industrial sites in Florida to participate in the program.
Duke Energy works with site owners, local economic development professionals, and county and city officials to identify each participating property's current status and develop a strategy for providing water, sewer, natural gas and electricity needed for development.
"I like to think of our Site Readiness Program as planting the seeds of success," said Catherine Stempien, president of Duke Energy Florida. "The Site Readiness Program plants the seeds for communities to cultivate by implementing the consultants' recommendations and investing in the readiness of their sites. After seven years of planting seeds across Florida, we are harvesting fruit. These new sites after going through the Duke Energy program will be the seeds that our communities can cultivate so that tomorrow we can harvest again."
Duke Energy worked with major site selection firms to evaluate each property. The consultants included Global Location Strategies of Greenville, S.C., Site Selection Group of Dallas, Texas, and Ardurra of Tampa, Fla., for engineering services. Once evaluations are complete, materials highlighting the property's attributes are used by Duke Energy's business recruitment team to help strategically market the sites nationwide for companies looking to expand or relocate their operations.
Site Summaries
Tropicana Field Site (Pinellas County):
Spanning 86 acres of publicly owned land in the middle of downtown St. Petersburg and adjacent to I-275, the Tropicana Field site represents a development opportunity with existing infrastructure available for a large-scale master development.
"The Tropicana Field Redevelopment project is a once-in-a-generation opportunity to shape the future of St. Petersburg," said Alan DeLisle, city development administrator for St. Petersburg. "Recognized as one of America's fastest-growing cities and named one of the top places to start and grow a business, St. Pete's economic indicators strengthen each year. The Duke Energy Site Readiness Program helped the city identify the site's physical, workforce and economic strengths, so we could properly convey them to the development community as part of our RFP process. The Tropicana Field site presents endless possibilities to take this city on the rise to the next level."
472 Properties (Volusia County):
A group of properties totaling more than 640 acres at the interchange of Interstate 4 and State Road 472. The site is a prime location for the rapidly growing logistics and distribution industry and offers a large and well-suited workforce.
"Team Volusia was excited about the opportunity to once again work with Duke Energy on its Site Readiness Program," said Keith Norden, president & CEO, Team Volusia Economic Development Corp. "The 472 interchange properties represent a tremendous opportunity for growth in the West Volusia area and with the feedback from SSG, Team Volusia is poised to position the area for development opportunities in food manufacturing, light assembly, professional services, distribution and warehousing. We are grateful for the pivotal role Duke Energy continues to play in our pursuit of economic development."
Frostproof Business Park Site (Polk County):
The Frostproof Business Park is 225 acres with two separate large contiguous, buildable sites of 115 and 90 acres. This site is located adjacent to State Road 17 and 3 miles east of U.S. Highway 27 near Nucor Corporation's recently announced micro-mill steel rebar facility. A labor force of more than 277,000 is within 45 minutes of the site.
"The Central Florida Development Council has had the pleasure of partnering with Duke Energy's economic development team on several Polk County sites identified as prime candidates for their Site Readiness Program," said Jennifer Taylor, vice president business development of the Central Florida Development Council.
"The Frostproof site is made up of 200 acres of rail-served land nestled between two major distribution centers – Lowe's and Ferguson's. The Central Florida location adds to the appeal that has attracted the likes of Nucor Steel – the largest steel maker in North America. The city of Frostproof and the Polk County Board of County Commissioners are well-known for their business-friendly attitude and the ability to do what needs to be done to attract industry to the area. A heartfelt thank you to Duke Energy for creating this program that places our community and the state of Florida in the most strategic and competitive position for economic prosperity and high-wage job growth."
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." Through the Site Readiness Program alone, Duke Energy has helped recruit $8.3 billion in capital investment, 53 projects and more than 12,232 jobs across the six states it serves, including Florida.
For more information about Duke Energy Florida's economic development programs, visit duke-energy.com/LocateFL.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Allison Barker
24-Hour: 800.559.3853
Twitter: @DE_AllisonB
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SOURCE Duke Energy
Article Date
10/8/2020Duke Energy to expand electric vehicle charging in South Carolina
Source: PR Newswire
GREENVILLE, S.C., Oct. 7, 2020 /PRNewswire/ -- As new electric vehicles (EV) enter the market and strong sales growth continues nationwide, the Public Service Commission of South Carolina (PSCSC) has approved two Duke Energy electric transportation (ET) pilot programs that will allow South Carolina to join other states in deploying EV infrastructure to meet the needs of this growing market.
Originally proposed in 2018, Duke Energy Carolinas and Duke Energy Progress participated in extensive working-group sessions with stakeholders for feedback on the innovative plans. The approved programs – the first in the Carolinas – reflect the inclusion of much of that feedback, as well as agreements with the Office of Regulatory Staff and ChargePoint.
"Electric vehicles are coming to South Carolina, but more investment is needed to grow the adoption of this evolving technology and the benefits it brings to the state," said Mike Callahan, Duke Energy's South Carolina president. "We're listening to our customers to ensure we understand their electrification plans and needs. These pilot programs will help prepare us to meet the challenge to ensure we can keep up with increasing demand for electrification."
Program Details
Fast Charging Program
Residential EV Charging Program
Duke Energy Carolinas is the electric utility that serves customers primarily in the Upstate region of South Carolina, while Duke Energy Progress serves customers in the Pee Dee.
The pilot programs were designed to support the growing EV market in South Carolina considering the significant economic benefits created by switching transportation fuel from gasoline to electricity. Expanding access to fast-charging infrastructure will allow customers across South Carolina who drive electric to enjoy significant fuel cost savings and help eliminate emissions from transportation. The residential program from Duke Energy Carolinas will also gather current charging load data to better understand the effects of EVs on Duke Energy's electric system and determine the ability of customers to respond to load management programs.
The findings of these programs will be available to the public through an annual stakeholder engagement process as well as a final report submitted to the PSCSC. The programs start Jan. 1, 2021. Duke Energy customers interested in participating can learn more at www.duke-energy.com/business/products/park-and-plug.
The South Carolina programs join others that have been proposed or implemented across the states served by Duke Energy. The company is also leading by example, recently announcing that by 2030, Duke Energy will convert all its light-duty vehicles to electric and 50 percent of its medium-duty, heavy-duty and off-road vehicles to EV, plug-in hybrids or other zero-carbon alternatives.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/7/202010/6/2020 - Duke Energy Foundation's 'Powerful Communities' program awards over $235,000 for nature grants in Indiana
Duke Energy Foundation's 'Powerful Communities' program awards over $235,000 for nature grants in Indiana
Source: PR Newswire
PLAINFIELD, Ind., Oct. 6, 2020 /PRNewswire/ -- The Duke Energy Foundation has awarded 19 "Powerful Communities" program grants in Indiana totaling more than $235,000 for important environmental programs to support water quality, conservation, and habitat and forest restoration.
"We are proud to support these organizations, which work so faithfully to maintain and improve our natural environment," said Stan Pinegar, Duke Energy state president for Indiana. "Many of these programs provide benefits beyond the local community."
One recipient of a $25,000 grant is Indiana Natural Resources Foundation, which will use the grant for its Indiana Tree Project to add 1,000 acres of forested land in the state.
"It's so rewarding to partner with an organization that invests in their communities and shares our commitment to preserving and protecting our natural resources for future generations," said Jody Kress, executive director of the Indiana Natural Resources Foundation. "We are grateful for Duke Energy's partnership, generosity and genuine desire to make a positive impact on conservation in Indiana."
Other organizations receiving the 2020 foundation grants include:
ORGANIZATION | PROGRAM | GRANT |
Art Spaces – Wabash Valley Outdoor Sculpture Collection Inc. | TURN TO THE RIVER Phase 1 of implementation will provide an accessible and meaningful link between Terre Haute's downtown and the Wabash River within a newly revitalized central city/county government plaza.
| $10,000 |
Arts Council of Southern Indiana | This program will enhance the Arts Alliance of Southern Indiana's Monarch butterfly sanctuary. | $5,000 |
Central Indiana Land Trust | Central Indiana Land Trust will expand trails in two of its most visited and beautiful nature preserves – Laura Hare Preserve at Blossom Hollow (Johnson County) and Fred and Dorothy Meyer Nature Preserve (Morgan County).
| $15,000 |
City of Franklin, Franklin Parks and Recreation | The Youngs Creek Mitigation and Restoration project will bring back the functionality of an area that has been lost to years of development and natural destruction.
| $23,334 |
City of Noblesville | The city of Noblesville will restore native habitat for a central stretch of the White River's east bank in Noblesville, at the same time removing overgrowth of invasive species and opening the river both visually and physically to resident interaction.
| $25,000 |
City of Sullivan | The Greenway project will plant trees, shrubs and flowers and place benches along the developing Greenway Trail System that connects Sullivan County Park and Lake, Sullivan High School and the Sullivan Public Library to downtown.
| $20,000 |
Clay Community Parks | The project is to extend the Craig Municipal Park walking trail and add a bridge over the lake's dam overflow stream. | $5,000 |
Columbus Redevelopment Commission | The project will remove a low-head dam; ensure accessible pedestrian routes; provide safe and secure access to the river; provide ample access for emergency and public safety personnel for rapid response; and will be designed to reflect reasonable and responsible development of the riverfront.
| $5,000 |
Decatur County Community Foundation | This project will create a memorial walking trail and include learning and STEAM stations. Funds will be used to purchase trees native to Indiana, as well as items for a weather and music station.
| $25,000 |
Indiana University Foundation | Indiana University's Environmental Resilience Institute (ERI) will launch the 2021 Resilience Cohort to bring together local government staff and partners to advance local capacity and produce greenhouse gas inventories for up to six communities in Duke Energy's Indiana service territory.
| $10,000 |
Indiana Wildlife Federation Inc. | This grant will support the addition of a half-mile ADA-accessible interpretive nature trail loop that starts and ends at the new visitor center.
| $10,000 |
Landmark Columbus Foundation | The project will create free public programs in early 2021 and purchase and plant at least 1,300 plants in Bartholomew County.
| $3,500 |
NICHES Land Trust | NICHES will create an outdoor observation and interpretive area with seating for visitors overlooking the natural play area and woodlands at this preserve.
| $15,000 |
Pennsy Trails of Hancock County Inc. | This grant will fund a foundation for wildlife by adding native local wildflower seeds, plants, shrubs and trees to establish a healthy habitat. The grant will also provide signs to educate others on wildlife habitat.
| $8,060 |
ReThink | The program will improve the natural habitat and biodiversity by planting two pollinator gardens in a disadvantaged neighborhood.
| $3,000 |
Southern Indiana Cooperative Weed Management Area | This program will help protect Indiana lands and water by coordinating efforts to identify, prevent and control problematic invasive species.
| $10,000 |
The Nature Conservancy | The Nature Conservancy will coordinate 15 "Weed Wrangles" across Indiana's public green spaces. Each event is a locally led volunteer event that will educate, engage and empower local citizens to combat invasive species and encourage planting native species.
| $15,000 |
Town of Arcadia | The town of Arcadia will develop a new pocket park for its downtown district. It will feature native shrubs and flowers, a bench, a path of pervious pavers and a small picnic table for residents and visitors to enjoy.
| $2,500 |
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to approximately 850,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million (more than $2 million in Indiana) annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/6/2020Duke Energy to announce third-quarter 2020 financial results on Nov. 5
Source: PR Newswire
CHARLOTTE, N.C., Oct. 2, 2020 /PRNewswire/ -- Duke Energy will announce its third-quarter financial results at 7 a.m. ET on Thursday, Nov. 5, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss third-quarter 2020 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chair, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-204-4368 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 5902971. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 15, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 5902971. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
10/2/202010/1/2020 - Duke Energy to host virtual Environmental, Social and Governance (ESG) investor day on Oct. 9
Duke Energy to host virtual Environmental, Social and Governance (ESG) investor day on Oct. 9
Source: PR Newswire
CHARLOTTE, N.C., Oct. 1, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) will host a virtual Environmental, Social and Governance (ESG) investor day from 10 a.m. to 12 p.m. ET on Friday, Oct. 9, 2020.
Duke Energy Chair, President and CEO Lynn Good, Executive Vice President and Chief Financial Officer Steve Young and other members of the Duke Energy executive team will discuss how the company is building upon its ESG success to advance its long-term business strategy. They will also provide updates on the company's significant clean energy initiatives that will provide benefits to communities served by Duke Energy, and the expected positive impact to the company's long-term capital deployment plans.
The meeting webcast can be accessed at www.Duke-Energy.com/ESG. The presentation materials will be available at the site at 10 a.m. on Oct. 9. The webinar can also be accessed by dialing 800-458-4121 or 323-794-2093. The confirmation code is 933912. Please call 10 minutes prior to the scheduled start time. For those unable to view the live webcast, a replay will be available for 30 days by accessing the same link as listed above.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Neil Nissan
24-Hour: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-to-host-virtual-environmental-social-and-governance-esg-investor-day-on-oct-9-301144217.html
SOURCE Duke Energy
Article Date
10/1/2020Accelerated Decommissioning Partners becomes licensed operator of Duke Energy's Crystal River Nuclear Plant in Florida
Source: PR Newswire
CRYSTAL RIVER, Fla., Oct. 1, 2020 /PRNewswire/ -- Accelerated Decommissioning Partners and Duke Energy successfully completed a transaction today to start decontamination and dismantlement of the Crystal River Nuclear Plant in Citrus County, Fla., in 2020 instead of 2067 – nearly 50 years sooner than originally planned.
(Editor's note: To download video clips, photos and a timeline graphic, click media kit.)
Decommissioning a nuclear plant is a safe and well-defined process with oversight by the U.S. Nuclear Regulatory Commission. The process involves removing, packaging and shipping radioactive materials, such as the reactor vessel, to an off-site licensed disposal facility and then demolishing buildings.
The Nuclear Regulatory Commission approved the transfer of the nuclear plant's license from Duke Energy to Accelerated Decommissioning Partners on April 1, 2020, and the Florida Public Service Commission unanimously approved the transaction on Aug. 18, 2020.
"Our experienced team of decommissioning experts provides a turnkey solution to Duke Energy customers for a fixed price on a guaranteed schedule," said Scott State, CEO of Accelerated Decommissioning Partners, a joint venture between NorthStar Group Services and Orano USA. "We are committed to being good partners with Duke Energy, state and federal regulators and the local community."
Contract terms
Under the previously announced contract reached in May 2019, Duke Energy remains the Nuclear Regulatory Commission-licensed owner of the nuclear plant, property and equipment (except the dry cask storage facility assets) and retains ownership and control of the trust fund that pays for the decommissioning. Duke Energy will continue to have access to the site and will pay Accelerated Decommissioning Partners only for work completed.
Accelerated Decommissioning Partners becomes the Nuclear Regulatory Commission-licensed operator responsible for decommissioning the plant in compliance with all state and federal regulations.
Accelerated Decommissioning Partners also becomes responsible for operating and maintaining the on-site dry cask storage facility and owns the dry cask storage system assets, including the used nuclear fuel assemblies.
Benefits
Performing decontamination and dismantlement activities during the next seven years instead of waiting until 2067, as originally planned, aligns with Accelerated Decommissioning Partners' business model and benefits Duke Energy customers.
"The transaction has no impact on Duke Energy customer bills," said Catherine Stempien, Duke Energy's state president in Florida. "The fixed-price contract locks in today's prices, provides customers financial protection and transfers cost and schedule risks to Accelerated Decommissioning Partners. Successfully closing this transaction is an example of how we are making smart decisions that benefit our customers and company."
The local community will not notice any difference in operations at the 5,100-acre Crystal River Energy Complex located on Florida's Gulf Coast about 85 miles north of Tampa.
The complex will remain a Duke Energy industrial facility for decades to come. Accelerating the decommissioning of the nuclear plant allows for faster redevelopment of the plant's property for Duke Energy's eventual reuse.
Though Duke Energy has not determined how it might repurpose the property, the company has no plans to sell it.
Next steps
Decommissioning planning and engineering work are underway.
Between 2021 and 2026, Accelerated Decommissioning Partners will remove, package and ship shielded radioactive components, such as the reactor vessel, to an off-site licensed disposal facility and then demolish the nuclear plant's buildings.
When decontamination and dismantlement work is completed in 2027, only the dry cask storage facility that sits on less than 2 acres and houses used nuclear fuel assemblies will remain.
Accelerated Decommissioning Partners will continue 24-hour security, emergency response and radiological and environmental monitoring programs at the nuclear plant during and after the decommissioning process in compliance with state and federal requirements.
Accelerated Decommissioning Partners
Accelerated Decommissioning Partners is a joint venture formed in 2017 between NorthStar Group Services and Orano USA. The company provides a turnkey solution that completes the U.S. Nuclear Regulatory Commission license termination process for a fixed price on a guaranteed schedule.
NorthStar Group Services is the largest demolition company in the world and owns and operates one of the most technically advanced demolition fleets of equipment in the U.S. NorthStar purchased the Vermont Yankee Nuclear Power Station in 2019 and is currently decommissioning it with support from Orano USA.
Orano USA is a major nuclear supplier of materials and services with in-house capabilities and decades of experience in used nuclear fuel management and dismantling, packaging and transporting radioactive materials. The company has the most advanced reactor vessel segmentation specialty tools and equipment in the industry. Orano also manufactured the Crystal River Nuclear Plant's on-site NUHOMS® dry cask storage facility, successfully transferring used nuclear fuel assemblies from the plant's fuel storage pool to that facility in 2018.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Accelerated Decommissioning Partners Contact: Curtis Roberts
Cell: 202.374.8766
Duke Energy Contact: Heather Danenhower
Cell: 352.497.4534 | 24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
10/1/20209/30/2020 - Fuel savings will decrease bills for Duke Energy Carolinas customers in South Carolina beginning Oct. 1
Fuel savings will decrease bills for Duke Energy Carolinas customers in South Carolina beginning Oct. 1
Source: PR Newswire
GREENVILLE, S.C., Sept. 30, 2020 /PRNewswire/ -- Duke Energy Carolinas customers in South Carolina will see a drop in their electric rates starting Oct. 1 as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants.
A typical residential customer in South Carolina using 1,000 kilowatt-hours (kWh) per month will see a decrease of $6.81, or about 5.6 percent. Commercial customers will see an average decrease in their bills of about 5.6 percent, and industrial customers will receive an average decrease of about 9.8 percent.
Duke Energy Carolinas makes a fuel cost recovery filing annually with the Public Service Commission of South Carolina (PSCSC). The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates.
Duke Energy Carolinas works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Joint dispatch of Duke Energy's generation fleet in the Carolinas also helps to minimize the company's fuel costs. The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly.
Duke Energy Carolinas serves more than 600,000 customers primarily in the Upstate region of South Carolina.
More help for customers
Duke Energy continues to provide assistance to residential and business customers impacted by the pandemic whose accounts have fallen behind due to illness or lost wages.
Support for these efforts includes:
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/30/2020Largest floating solar power plant in the Southeast coming to Fort Bragg
Source: PR Newswire
CHARLOTTE, N.C., Sept. 30, 2020 /PRNewswire/ -- The U.S. Army's Fort Bragg in North Carolina will soon be home to the largest floating solar plant in the Southeast – a 1.1-megawatt (MW) system as part of a Utility Energy Service Contract (UESC) awarded to Duke Energy.
The $36 million contract will focus on energy resilience and security at Fort Bragg: infrastructure modernization including lighting and water upgrades, heating, ventilation and air-conditioning and boiler system improvements.
"As a leader in solar energy, we're excited to bring this unique project to Fort Bragg," said Melisa Johns, vice president, Distributed Energy Solutions at Duke Energy. "This project takes a comprehensive look at the way energy is being used at Fort Bragg and will lead to more efficient energy use and significant cost savings."
Ameresco, Duke Energy's prime contractor, will build the 1.1-MW floating solar PV system on the Big Muddy Lake located at Camp Mackall. Fort Bragg will own and operate the system once construction is completed. Construction is expected to begin in November.
"We approached Duke Energy with the idea of a floating solar array unsure of how they would respond to the innovative concept," said Audrey Oxendine, Fort Bragg Energy and Utilities Branch Chief. "However, Duke Energy was excited to take on the challenge and work with us to make an idea into reality."
The floating solar installation will be paired with a 2-MW battery energy storage system. The system will supplement power to Fort Bragg from the local grid and provide backup power during electric service outages.
Floating solar power could have a big future. The U.S. Department of Energy's National Renewable Energy Laboratory (NREL) researchers estimate that installing floating solar photovoltaics on the more than 24,000 man-made U.S. reservoirs could generate about 10 percent of the nation's annual electricity production. Currently, floating solar makes up only about 1-2 percent of the world's solar capacity.
About 90 percent of the floating solar capacity in the world is in Asia. However, the technology can take advantage of water space that would otherwise go unused – like at Fort Bragg. (View and download video of a floating solar facility).
North Carolina and Duke Energy are leaders in solar energy. The state is second in the nation for overall solar power capacity. Duke Energy owns and operates 40 solar facilities in North Carolina – one of which is a 13-MW facility at the Marine Corps Base Camp Lejeune in Onslow County.
The project is part of Duke Energy's federal business, which develops and delivers solutions that strengthen infrastructure reliability, operational resilience and energy cost performance. Duke Energy recognizes that federal and military energy infrastructure needs are diverse and uniquely complex.
About Fort Bragg
Fort Bragg has the largest population of any military installation in the Department of Defense with more than 50,000 active duty personnel. Among its many important functions, the post is the home of the headquarters for both the U.S. Army Forces Command (FORSCOM) and U.S. Army Special Operations Command (USASOC). The post is also home of the Joint Special Operations Command (JSOC), the XVIII Airborne Corps, and the headquarters of U.S. Army Reserve Command, and the 82nd Airborne Division. Womack Army Medical Center is a 1.1 million square feet, 138-bed hospital located on the post serving more than 160,000 eligible beneficiaries, the largest beneficiary population in the Army. Two airfields are located within the confines of the post: Pope Army Airfield and Simmons Army Airfield.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
Fort Bragg Public Affairs
910.432.0502
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SOURCE Duke Energy
Article Date
9/30/20209/29/2020 - Duke Energy powers vitality of natural resources in North Carolina through $522,400 in grants
Duke Energy powers vitality of natural resources in North Carolina through $522,400 in grants
Source: PR Newswire
CHARLOTTE, N.C., Sept. 29, 2020 /PRNewswire/ -- The Duke Energy Foundation today announced $522,400 in grants to fund environmental projects creating access to nature and protecting species, habitats and water quality in North Carolina.
One of the ways Duke Energy builds powerful communities is through protecting and restoring wildlife and natural resources that communities and future generations depend on.
"We're pleased to support projects that protect and expand access to North Carolina's natural treasures, especially as more people are engaged in outdoor activities," said Stephen De May, Duke Energy's North Carolina president. "Our company is committed to the environment of our great state."
One of this year's grantees, Asheville GreenWorks, will receive funding for its Everybody's Environment program to promote racial equity in the environmental field.
"Asheville GreenWorks' Urban Forestry program grew tremendously over the past several years due in large part to generous funding from the Duke Energy Foundation," said Dawn Chavez, executive director, Asheville GreenWorks. "GreenWorks and many other environmental and conservation organizations in western North Carolina have been working together as part of Everybody's Environment to advance racial equity in our organizations and programs. The recent nature grant from the Duke Energy Foundation helps to build our capacity to effect meaningful change in equity, diversity and inclusivity in the environmental field."
Duke Energy is committed to investing in and working alongside our community partners to ensure future generations enjoy the immeasurable benefits of our natural resources.
A complete list of all grantees can be found here.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Shawna Berger
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/29/2020Duke Energy invests more than $350,000 in projects that help preserve, enhance South Carolina's natural places
Source: PR Newswire
GREENVILLE, S.C., Sept. 29, 2020 /PRNewswire/ -- The Duke Energy Foundation recently awarded more than $350,000 in grants to South Carolina organizations that will fund environmental projects, wildlife conservation efforts and environmental educational programs across the state.
As a result of increased usage during the pandemic, a large portion of the funding also went to 22 qualified nonprofit and government entities that received up to $10,000 for funding of projects such as trail upkeep and maintenance; park beautification; and safety enhancements.
"These grants support programs and organizations that work to protect and restore the wildlife and natural resources that our communities depend on," said Michael Callahan, Duke Energy's South Carolina president. "We think it's important to work alongside our community partners to ensure these beautiful places around us can be enjoyed by nature lovers of all ages for years to come."
The South Carolina State Park Service manages and protects more than 80,000 acres of South Carolina's natural and cultural resources, including more than 300 miles of hiking and riding trails.
"Our partnership with Duke Energy is exceptional and has helped us deliver our promise of wise stewardship of resources and service to our visitors," said Paul McCormack, director of the South Carolina State Park Service. "The latest grants for Landsford Canal State Park and the Carrick Creek Trail at Table Rock State Park underscore the value of their significant support."
The City of Florence will use grant funding for an extension of a boardwalk at the Florence Rail Trail and the installation of a partially covered platform within the Jeffries Creek ecosystem.
"During this health crisis, having safe recreational opportunities for the citizens of Florence is more important than it has ever been," said Stephen Wukela, mayor of the City of Florence. "We are very thankful that Duke Energy has provided the city with this grant to expand those amenities and continue our efforts in expanding our trail systems."
A complete list of all grantees can be found here.
The Foundation funds more than $2 million annually to nonprofit organizations in South Carolina.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/29/2020Piedmont Natural Gas to offer renewable natural gas through Nashville fueling station
Source: PR Newswire
NASHVILLE, Tenn., Sept. 29, 2020 /PRNewswire/ -- Piedmont Natural Gas today announced that renewable natural gas (RNG) is now available at its compressed natural gas (CNG) fueling station in Nashville, Tenn.
Renewable natural gas is pipeline-quality biomethane produced from biomass that is fully interchangeable with conventional natural gas and can be used in natural gas vehicles. By fueling with RNG at Piedmont's Nashville station, fleets and organizations can further reduce their emissions footprint – helping decarbonize transportation in Tennessee.
"Drivers of CNG vehicles and companies with CNG fleets already have been benefiting from the cost advantages of fueling with abundant, domestic natural gas," said Phillip Grigsby, Piedmont's senior vice president of ventures and business development. "But there's a tremendous environmental benefit as well, since CNG vehicles have lower greenhouse gas emissions compared to diesel-fueled vehicles.
"That environmental advantage over diesel increases even more when the natural gas source is renewable – in this case, RNG captured from a landfill," Grigsby said. "Piedmont is excited to help our customers even further in meeting their sustainability goals."
Bluesource, an environmental action partner based in Cottonwood Heights, Utah, will pair RNG available in the pipeline system with Piedmont's station, bringing the environmental benefits of renewable natural gas to Piedmont's consumers.
Bluesource Vice President Will Overly said, "We're thrilled to partner with Piedmont and empower their customers to manage and reduce greenhouse gas emissions. The economic and environmental benefits of RNG drive real change at the consumer level and beyond."
Piedmont's own fleet consists of 43% CNG vehicles, or approximately 643 vehicles. Piedmont provides CNG for industrial customers, including refuse, transit, over-the-road fleets and construction, as well as services for private use at CNG fueling stations.
Piedmont operates a network of 11 publicly accessible CNG fueling stations for fleets and personal natural gas vehicles within its three-state service area in the Carolinas and Tennessee. The company plans to continue extending RNG as a fuel source in its CNG fueling stations. These fast-fill stations are open 24 hours a day, seven days a week.
For more information on Piedmont's CNG fueling stations, visit piedmontng.com/vehiclesandfueling.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Bluesource
Bluesource is a climate action partner for private and public companies, nonprofits and governments. Bluesource has pioneered creative solutions to the climate crisis since 2001, with deep expertise across environmental technologies and markets. With more than 200 projects in the United States and Canada, Bluesource is a leader in voluntary, compliance and pre-compliance carbon, renewable energy attribute, renewable natural gas and energy efficiency markets. Bluesource empowers organizations to take their next step toward environmental action.
Jason Wheatley
Piedmont Natural Gas
877.348.3612
jason.wheatley@duke-energy.com
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SOURCE Duke Energy
Article Date
9/29/2020Florida's natural resources and species conservation efforts to benefit from nearly $355,000 in grants from Duke Energy
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 28, 2020 /PRNewswire/ -- The Duke Energy Foundation has awarded nearly $355,000 to 10 nonprofits committed to protecting and restoring Florida's natural resources.
The grants will fund programs that protect and rehabilitate Florida wildlife, as well as conserve and restore native habitats. The grants also support environmental education and help preserve Florida's natural resources, including its waterways.
"Our community partners who work to protect Florida's natural resources and wildlife have not escaped consequences of the COVID-19 pandemic," said Catherine Stempien, Duke Energy Florida state president. "These grants will help them to continue the good work they do every day to protect, restore and rehabilitate our state's environmental treasures and resources in a sustainable way."
Among this year's recipients is the Clearwater Marine Aquarium, which received $100,000 to support its Animal Care Fund. Like many other attractions, the aquarium had to close its doors to the public this year for two months because of COVID-19.
"We were left virtually without much needed revenues to cover ongoing expenses. Yet, our work and care for our animals never stops; it must continue regardless of circumstances," said Frank Dame, the aquarium's chief executive officer. "This grant will provide much needed funds for supplies and medical equipment that we otherwise could not afford because of this pandemic. Our animals and staff very much appreciate this generous grant from Duke Energy and your continuing partnership with CMA."
Grant Recipients, Programs and Awards
Tampa Bay area:
Greater Orlando area:
Greater Tallahassee/Gainesville area:
Statewide:
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Allison Barker
24-Hour: 800.559.3853
Twitter: @DE_AllisonB
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SOURCE Duke Energy
Article Date
9/28/2020Duke Energy reaches deal with Vote Solar, Sunrun, renewable energy advocates to modernize, expand rooftop solar in South Carolina
Source: PR Newswire
GREENVILLE, S.C., Sept. 16, 2020 /PRNewswire/ -- Duke Energy today announced an agreement with leading solar installers, environmental groups and renewable energy advocates that, if approved by regulators, will create long-term stability for the residential solar industry in South Carolina.
The deal will provide options for customers while allowing the company to address increasing electric demand periods in the winter for the benefit of the company's systems and customers in both North Carolina and South Carolina.
The proposed plan – Solar Choice Net Metering – could be the next generation of net energy metering for the Carolinas, a billing process that credits small customers with rooftop solar arrays for excess electricity they generate and provide to Duke Energy via the grid.
Solar Choice Net Metering will include retail rates that vary based on the time of day and when utilities experience peak demand. It will also give customers the ability to install a smart thermostat with their solar panels and receive an incentive for the combination.
"This first-of-a-kind package completely modernizes the rooftop solar transaction," said Lon Huber, Duke Energy's vice president for rate design and strategic solutions. "This new arrangement not only recognizes the value of solar and the enabling energy grid, but it unlocks additional benefits for all customers by addressing when utilities experience peak demand across their systems in the Carolinas."
Those organizations part of the effort include renewable energy advocates Vote Solar and North Carolina Sustainable Energy Association; the Southern Environmental Law Center on behalf of South Carolina Coastal Conservation League, Upstate Forever and Southern Alliance for Clean Energy; and leading rooftop solar installer Sunrun. Each organization that is part of the agreement will continue to advance the proposal to other stakeholders and ultimately regulators.
The agreement builds on the goals of the South Carolina Energy Freedom Act (Act 62). The 2019 legislation is the result of a collaborative and bipartisan effort to develop the next steps for energy policy in South Carolina that support the state's continued commitment to solar energy development.
"Collaboration brought us a pathway to growing renewables in the state with Act 62, and that spirit of working together created this plan for the continued expansion of solar in South Carolina," said Mike Callahan, Duke Energy South Carolina state president. "Duke Energy is committed to the cooperative spirit that has been a hallmark of achieving successful solar policy and creating a cleaner energy future for customers in South Carolina."
"Duke Energy deserves credit for its leadership in bringing stakeholders together, establishing trust through transparency, and embracing policy innovation," said Thad Culley, senior regional director for Vote Solar. "I am hopeful that this collaborative approach will encourage more partnerships with Duke Energy as we try to navigate our way toward a cleaner, more resilient grid, while providing additional choices for South Carolina families."
If approved by regulators, the company anticipates a transitional tariff to be available on June 1, 2021, to allow for a full transition into the new plan on or before Jan. 1, 2022.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy Media Contact: Ryan Mosier
24-Hour: 800.559.3853
Vote Solar Media Contact: Hilary Lewis
202.455.0361
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SOURCE Duke Energy
Article Date
9/16/2020Duke Energy's Green Source Advantage continues solar expansion in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Sept. 15, 2020 /PRNewswire/ -- Duke University has become the first academic institution to execute a renewable power agreement under Duke Energy's Green Source Advantage (GSA) program – further expanding solar energy in North Carolina.
Duke University will purchase about 101 megawatts (MW) of solar capacity from three solar facilities in North Carolina. The power generated will partially offset the university's energy usage.
"The Green Source Advantage is an ideal fit for colleges and universities seeking to advance their renewable energy and sustainability goals," said Stephen De May, Duke Energy's North Carolina president. "The innovative program's flexibility allows for a major expansion of renewable energy in North Carolina."
The agreement will help Duke University's ambitious effort to become carbon neutral by 2024.
The expanded solar energy fits into the university's Climate Action Plan, which was launched in 2009 and updated in 2019 with a goal of reducing on-campus emissions by 84% by 2024, with the remaining emissions reduced to zero through investment in carbon offsets.
Duke University will partner with Asheville, N.C.-based Pine Gate Renewables to build the solar projects, which are being developed in partnership with Silver Pine Energy Holdings. The facilities will be online by 2022.
"We are excited to partner with Duke Energy and Duke University for these projects," said Pine Gate Renewables CEO Ben Catt. "We've developed, constructed and energized dozens of solar projects with Duke Energy over the years, and look forward to bringing more renewable energy to North Carolina through innovative and exciting programs such as GSA."
"This partnership (with Pine Gate Renewables) is a key step toward carbon neutrality," said Duke President Vincent E. Price. "Duke is committed to building on our history of leadership in protecting the environment, a vitally important priority for our university – and for humanity – as we grapple with the challenges of climate change."
The GSA program is an outgrowth of 2017's landmark solar legislation in North Carolina. Programs such as solar rebates for customers and solar leasing were also part of that legislation. Overall, there is 600 MW of capacity available under GSA. Currently, around 30 MW is still available to eligible customers.
The GSA allows large energy users to offset its power purchases by securing renewable energy from projects connected to the Duke Energy grid. The customer may keep the Renewable Energy Certificates (RECs) of the projects and use the energy purchased to satisfy sustainability or carbon-free goals.
Two other GSA contracts have been announced this year:
Under GSA, customers and developers agree on the specific project and additional costs associated with energy from the facility. Other Duke Energy customers do not pay for any part of the project.
Duke Energy maintains about 3,500 MW of solar power on its energy grid in North Carolina, which could power about 700,000 homes and businesses at peak output. The company also operates 40 solar facilities in the state. North Carolina currently ranks No. 2 in the nation for overall solar power.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
9/15/20209/10/2020 - Duke Energy and solar industry achieve milestone agreements to expand solar in the Carolinas
Duke Energy and solar industry achieve milestone agreements to expand solar in the Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Sept. 10, 2020 /PRNewswire/ -- A pair of collaborative milestones have been reached between Duke Energy and third-party solar developers as well as industry organizations to create a pathway for more solar energy in the Carolinas.
"These agreements continue to advance renewable energy in the Carolinas," said Stephen De May, Duke Energy's North Carolina president. "Collaborative engagement was key to taking this important step forward."
First, Duke Energy and most of the major solar industry developers in North Carolina and South Carolina have agreed to a defined process and timeline by which a substantial additional amount of solar generation will be interconnected to the Duke Energy distribution system.
Solar projects totaling several hundred megawatts (MW) will be targeted for completion in 2021 and 2022 (in addition to those projects already in process). The parties also agreed to resolve several long-standing formal and informal interconnection disputes.
The parties have filed notice of the settlement with the N.C. Utilities Commission (NCUC) and the Public Service Commission of S.C. (SCPSC) requesting regulatory approval of certain limited waivers necessary to implement the agreement.
"We're very pleased to have reached this agreement with Duke Energy," said Steve Levitas, senior vice president for Strategic Initiatives at Pine Gate Renewables, a fully integrated utility-scale solar developer based in Asheville, N.C. "It took a lot of hard work, creativity and good faith by both sides. We look forward to continuing to work with Duke to meet the need for clean energy resources in the Carolinas."
In the second major milestone, Duke Energy has reached a resolution with the North Carolina Clean Energy Business Alliance and the North Carolina Sustainable Energy Association to implement a fundamental change to the interconnection process.
This change – commonly referred to as "queue reform" – transitions the interconnection process from analyzing each request one by one to a more efficient process of studying interconnection requests in clusters.
The cluster study method has been adopted by several states and system operators around the nation and provides a more predictable path to interconnection – studying only those projects that are committed to becoming operational within a certain period.
This new study process will eliminate the backlog that was created when "ready" projects were delayed while the utility studied sometimes speculative projects that were in a higher spot in the utility interconnection queue. The result was a slower process for all.
Queue reform has been under development in the Carolinas for more than a year and is the product of a broad stakeholder process that resulted in the consensus approach.
Implementation of queue reform will require approval by the NCUC, SCPSC and the Federal Energy Regulatory Commission. Also included in the filing was a proposal to provide more certainty regarding future interconnection costs for third parties.
The Carolinas region is one of the fastest-growing solar power areas of the country. North Carolina is No. 2 in the nation for overall solar power.
Overall, Duke Energy has more than 3,500 MW of solar capacity connected to its energy grid in the Carolinas – roughly the amount to serve more than 600,000 customers.
The company has connected more than 500 solar facilities operated by other companies in the Carolinas.
The settlement only involves utility-scale solar facilities and not residential solar owners. Duke Energy has more than 25,000 rooftop solar customers in the Carolinas and continues to see healthy and steady growth in that sector along with a quick and efficient interconnection process.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
9/10/20209/9/2020 - Duke Energy advances climate strategy with aggressive pledge to electrify vehicle fleet by 2030
Duke Energy advances climate strategy with aggressive pledge to electrify vehicle fleet by 2030
Source: PR Newswire
CHARLOTTE, N.C., Sept. 9, 2020 /PRNewswire/ -- Duke Energy is continuing its push to reduce carbon emissions with a new pledge to convert most of its current 10,000-vehicle fleet to electric or another zero-carbon alternative in just 10 years. With approximately 600 electric vehicles (EVs) already in its fleet, the utility says it will continue to pursue electrification as more electric vehicle options become available.
"We've set a bold vision to achieve net-zero carbon emissions from electric generation by 2050. But beyond how we generate power, we're looking at other ways to transform our business to reduce emissions," said Lynn Good, chair, president and CEO. "Electric vehicles are an important part of that strategy. With our new pledge, we're committed to transitioning our fleet and spurring adoption within our communities."
More specifically, Duke Energy's pledge is to convert 100% of its nearly 4,000 light-duty vehicles to electric and 50% of its approximately 6,000 combined fleet of medium-duty, heavy-duty and off-road vehicles to EVs, plug-in hybrids or other zero-carbon alternatives as more of these options become available.
Benefits of EVs include reduced emissions, better performance, less noise and fewer expenses. Customers interested in purchasing an EV can estimate their savings by visiting the Duke Energy fuel savings calculator.
Duke Energy's EV story
Through our EV programs, Duke Energy continues to promote a cleaner environment and provide opportunities for communities to electrify transportation:
Impacts of Duke Energy's fleet conversion
For more information on Duke Energy's comprehensive climate strategy, visit duke-energy.com/climate.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108
Media line: 800.559.3853
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SOURCE Duke Energy
Article Date
9/9/2020Duke Energy Florida decreases electric rates for 2021
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 3, 2020 /PRNewswire/ -- Duke Energy Florida (DEF) customers will see lower bills in 2021.
The company plans to decrease Florida residential rates by 2.8% while making grid improvements to enhance reliability, security and resilience in 2021 and beyond.
The rate reflects an expected decrease in DEF's storm cost recovery and fuel charges.
Rates for 2021 will also reflect grid reliability investments to reduce the number and duration of outages, and DEF's annual capacity, energy conservation, storm protection plan and environmental compliance clause costs.
If approved, typical residential customers using 1,000 kilowatt-hours (kWh) will see a decrease of $3.63 or 2.8% in their monthly bill beginning January 2021. Commercial and industrial customers will see bill impacts ranging from a 6.6% decrease to a 1.1% increase.
However, the specific bill impact will vary depending on several factors. This decrease will be partially offset when rates are adjusted to include the investments in the Twin Rivers and Santa Fe solar plants as they come online in early 2021.
"In 2021, Duke Energy Florida is bringing new services and technologies to our customers while lowering costs and keeping residential rates for electricity lower than the national average," said Catherine Stempien, Duke Energy Florida state president. "While our customers' bills are decreasing, we know some of them continue to face financial hardships. We're providing enhanced care and expanded assistance for those impacted by the pandemic."
Enhanced customer care
Duke Energy Florida has been proactively working with customers who are accumulating past-due balances on their utility bills, offering payment plans to mitigate potentially more significant financial challenges in the future.
The company will continue to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts include:
Customers should download the company's mobile app or visit duke-energy.com for information and most service transactions. Customers who are unable to self-serve can contact the customer contact center at 800.700.8744.
Duke Energy's customer service specialists are available Monday through Friday, 7 a.m. to 7 p.m. to assist customers with customized payment plans that meet their specific situations.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/3/2020Duke Energy presents options to further accelerate carbon reduction in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Sept. 1, 2020 /PRNewswire/ -- Duke Energy Carolinas and Duke Energy Progress today filed their 2020 Integrated Resource Plans (IRPs), based in part on extensive input from more than 200 customer and stakeholder participants.
The plans outline a range of options to achieve varying levels of carbon reduction, including for the first time potential pathways to achieve up to 70% carbon emissions reduction with policy and technology advancements. Aggressive carbon reduction targets are achievable with investments in solar, wind, and energy storage. Offshore wind, advanced nuclear and other technologies also will play a role as they become available.
"The Carolinas are a national leader for carbon emissions reduction in the electric sector, and we're eager to build on and accelerate that success," said Lynn Good, Duke Energy chair, president and CEO. "To that end, we've conducted extensive analysis to provide customers, regulators and policymakers a comprehensive view of the options for further reductions. We are ready to collaborate to find the best fit for the Carolinas and the citizens and businesses we serve."
Duke Energy actively engaged stakeholders, such as business customers, consumer advocacy and environmental groups, in North Carolina and South Carolina over a six-month period to listen and solicit input to inform the planning process. Duke Energy held three virtual sessions with more than 200 external stakeholder participants representing a broad range of interests. They provided recommendations in the areas of resource planning, carbon reduction, energy efficiency and demand response.
"Duke Energy certainly gave stakeholders many opportunities to weigh in before developing major long-term plans that will affect thousands of families and businesses, and I hope to see that robust engagement reflected throughout this important process," said David Rogers, southeast deputy regional director, Beyond Coal, Sierra Club. "I appreciated the opportunity for more substantive engagement with Duke Energy, and I highly encourage company leaders to continue involving stakeholders early in key strategic decisions."
The 2020 IRPs each present six potential pathways within the 15-year planning horizon that evaluate different possible resource portfolios. Each pathway keeps Duke Energy on a trajectory to meet its near-term carbon reduction goal of at least 50% by 2030 and long-term goal of net-zero by 2050 in the Carolinas, while exploring accelerated coal retirement options, significant increases in renewables, including onshore and offshore wind, and further integration and development of new technologies, among other scenarios.
The plans demonstrate the valuable role nuclear and natural gas can play as part of a balanced portfolio, sustaining Duke Energy's industry-leading pace in carbon reductions by enabling early coal retirements.
The plans also underscores the energy grid improvements that will be required to maintain reliability for customers, while adding the extensive renewables and energy storage needed to achieve these various goals.
"This is a clear-eyed view of the real-world requirements to achieve a range of potential public policy goals in the Carolinas, consistent with Duke Energy's mission to provide all customers with affordable, reliable and cleaner energy," said Good.
The scenario analyses included in the IRPs provide a comparison of system costs, estimated customer bill impacts and varying levels of carbon reduction to inform regulators' decisions and to inform future discussions about public policy. Collaboration with stakeholders, continued investment in grid improvements and the advancement of new, innovative technologies will ultimately guide the pace of energy transition in the Carolinas.
Duke Energy Progress (DEP) and Duke Energy Carolinas (DEC) are required to make Integrated Resource Plan (IRP) filings each year with the North Carolina Utilities Commission (NCUC) and the Public Service Commission of South Carolina (PSCSC). Every other year, the companies file comprehensive IRPs such as the ones being filed today. This year marks the first comprehensive IRP filed in SC pursuant to the Energy Freedom Act enacted in 2019.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/1/20208/31/2020 - Duke Energy Indiana provides $300,000 in energy assistance funds to help customers during pandemic
Duke Energy Indiana provides $300,000 in energy assistance funds to help customers during pandemic
Source: PR Newswire
PLAINFIELD, Ind., Aug. 31, 2020 /PRNewswire/ -- Duke Energy is providing $300,000 in energy assistance funds to help qualified Indiana customers who may be struggling to pay their energy bills during the pandemic. The company also is emphasizing that eligible residential customers can avoid disconnections for nonpayment if they establish a payment plan, which can now extend up to 12 months.
"We know the pandemic continues to be a financial hardship for many," said Duke Energy Indiana President Stan Pinegar. "These funds, in combination with federal Low-Income Energy Assistance dollars administered by the state, can help hundreds of Hoosiers with energy costs during a challenging time."
Duke Energy is working with the Indiana Community Action Association and the Indiana Housing and Community Development Authority's Energy Assistance Program, which determines eligibility and distributes the company's assistance funds.
Recipients of the Duke Energy funds must be Duke Energy customers and meet income-eligibility requirements. The company also encourages eligible customers to establish a payment plan, if needed, for any outstanding balances to avoid disconnection.
"While the Indiana Community Action Agency network can help in many ways, the Duke Energy Helping Hand Program is a valuable resource during uncertain times as moratoriums on utility disconnections and evictions expire," said Ed Gerardot, executive director of the Indiana Community Action Association.
Duke Energy Indiana suspended service disconnections for nonpayment until Sept. 15 for customers who were experiencing financial hardship due to the COVID-19 pandemic. The deadline gave customers an additional month to make payment arrangements beyond the state's current disconnection moratorium. Eligible residential customers can avoid disconnection by establishing a payment plan, which now can extend up to 12 months.
If customers are behind on their Duke Energy bills, they should contact the company right away at 800.521.2232 to talk with a customer service representative to establish payment arrangements. Payment plans can also be established online. Click here for more information.
Federal initiatives such as the Low-Income Energy Assistance Program (LIHEAP) provide home energy assistance to help eligible low-income households meet their home heating and/or cooling needs. These federal funds received hundreds of millions of dollars as part of the federal stimulus initiative. Indiana's next funding cycle for the program opens Sept. 1. To apply for the Energy Assistance Program, customers should contact their local service provider. Click here to find a listing of service providers by county.
Since mid-March, the Duke Energy Foundation has contributed more than $1.15 million in shareholder funds to Indiana nonprofit groups, focusing on hunger relief, small business recovery, education and workforce needs as well as social justice grants.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/31/2020Duke Energy Carolinas customers in North Carolina will see bills go down Sept. 1
Source: PR Newswire
RALEIGH, N.C., Aug. 28, 2020 /PRNewswire/ -- Duke Energy Carolinas customers in North Carolina will see a drop in their electric rates starting Sept. 1.
Overall, energy costs will decrease 2.9% for residential customers, 2.5% for commercial customers and 2.1% for industrial customers.
The total monthly impact for a typical residential customer using 1,000 kilowatt-hours (kWh) per month will be a decrease of $3.13 – from $106.97 to $103.84.
As part of its COVID-19 response, the company added fuel savings from the first quarter of 2020 to its February fuel filing to bring more savings to customers in 2020 – rather than including these savings in its 2021 filing.
The net decrease in rates, as approved by the North Carolina Utilities Commission, includes annual adjustments for costs related to fuel used to generate electricity at power plants, as well as compliance with the state's renewable energy portfolio standard and implementation of the competitive procurement of renewable energy statute.
The fuel rate is based on the projected cost of fuel used to generate electricity for customers, plus a true up of the prior year's projection.
While the company's actual costs are typically calculated through the previous December, the new rates include a true up through March to provide more immediate benefit to customers. By law, the company makes no profit from the fuel component of rates.
Duke Energy Carolinas serves 2 million households and businesses in central and western North Carolina, including Durham, the Triad and Charlotte.
More help for customers
Duke Energy continues to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts includes:
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/28/20208/27/2020 - Duke Energy Site Readiness Program a win for economic development, jobs in South Carolina
Duke Energy Site Readiness Program a win for economic development, jobs in South Carolina
Source: PR Newswire
GREENVILLE, S.C., Aug. 27, 2020 /PRNewswire/ -- Duke Energy has selected three properties in South Carolina for participation in its 2020 Site Readiness Program to enhance the readiness of the sites for business and industrial development.
The Site Readiness Program has helped prepare properties that have won 15 major projects in South Carolina since the program started in 2005, resulting in more than 2,600 new jobs and nearly $1 billion in capital investment.
Through the program, Duke Energy identifies high-potential sites and partners with county officials and local economic development professionals to develop a strategy for getting the site fully ready to market to industrial projects.
"Our Site Readiness Program has been highly successful and a valuable tool for our partners and communities across the Carolinas," said Stu Heishman, Duke Energy's vice president of economic development and business recruitment. "Our team works with local and regional partners to develop a strategy to advance the readiness of selected sites and recruit national companies to the Carolinas. We have strong relationships with our state and local partners, and leverage the expertise of nationally recognized consultants to maximize the impact of the program."
The locations include:
Duke Energy worked with major site selection firms to evaluate the sites, including Global Location Strategies (GLS), Strategic Development Group and Site Selection Group. Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites. Additionally, each site is eligible to apply for a $10,000 matching grant from Duke Energy to help prepare it to attract projects.
After each site's state of readiness has advanced, Duke Energy's business recruitment team strategically markets each of them nationwide to companies looking to expand or relocate their operations.
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." Through these efforts, Duke Energy helped recruit $537 million in capital investment in South Carolina and more than 1,750 jobs for the state in 2019.
For more information about Duke Energy's economic development programs, visit http://locationdukeenergy.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy media line:
800.559.3853
View original content:http://www.prnewswire.com/news-releases/duke-energy-site-readiness-program-a-win-for-economic-development-jobs-in-south-carolina-301119821.html
SOURCE Duke Energy
Article Date
8/27/20208/27/2020 - Duke Energy Site Readiness Program a win for economic development, jobs in North Carolina
Duke Energy Site Readiness Program a win for economic development, jobs in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Aug. 27, 2020 /PRNewswire/ -- Duke Energy has selected six properties in North Carolina for participation in its 2020 Site Readiness Program to enhance the readiness of the sites for business and industrial development.
The Site Readiness Program has helped prepare properties that have won 23 major projects in North Carolina since the program started in 2005, resulting in more than 5,650 new jobs and nearly $6.4 billion in capital investment.
Through the program, Duke Energy identifies high-potential sites and partners with county officials and local economic development professionals to develop a strategy for getting the site fully ready to market to industrial projects.
"Our Site Readiness Program has been highly successful and a valuable tool for our partners and communities across the Carolinas," said Stu Heishman, Duke Energy's vice president of economic development and business recruitment. "Our team works with local and regional partners to develop a strategy to advance the readiness of selected sites and recruit national companies to the Carolinas. We have strong relationships with our state and local partners, and leverage the expertise of nationally recognized consultants to maximize the impact of the program."
The locations include:
Duke Energy worked with major site selection firms to evaluate the sites, including Global Location Strategies (GLS), Strategic Development Group and Site Selection Group. Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites. Additionally, each site is eligible to apply for a $10,000 matching grant from Duke Energy to help prepare it to attract projects.
After each site's state of readiness has advanced, Duke Energy's business recruitment team strategically markets each of them nationwide to companies looking to expand or relocate their operations.
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." Through these efforts, Duke Energy helped recruit $3.3 billion in capital investment in North Carolina and more than 4,200 jobs for the state in 2019.
For more information about Duke Energy's economic development programs, visit http://locationdukeenergy.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy media line:
800.559.3853
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SOURCE Duke Energy
Article Date
8/27/2020North Carolina's largest battery system now operating at Duke Energy substation
Source: PR Newswire
CHARLOTTE, N.C., Aug. 26, 2020 /PRNewswire/ -- The future of battery storage took a big step forward in North Carolina recently as Duke Energy began operating the largest battery system in the state.
In the city of Asheville, a 9-megawatt (MW) lithium-ion Samsung battery system is operating next to a Duke Energy substation in the Shiloh community. With a total cost of less than $15 million, the project will primarily be used to help the electric system operate more efficiently. It will provide energy support to the electric system, including frequency regulation and other grid support services.
Battery storage offers many benefits to customers. Duke Energy has plans to invest $600 million for 375 MW of energy storage across its regulated businesses.
"Energy storage will play a significant role in how we deliver energy to customers now and into the future as we act to reduce carbon emissions by at least 50% by 2030 and achieve net-zero carbon emissions by 2050," said Stephen De May, Duke Energy's North Carolina president.
Duke Energy has more than a decade of experience with battery storage. At one time, the company's 36-MW battery system next to the company's Notrees Wind Facility in Texas was the largest battery operating in the United States. It remains one of the country's biggest.
News media can download a time-lapse video of the construction project.
Additional Duke Energy projects
In Haywood County, the company installed a solar plus storage microgrid on top of Mount Sterling at the Great Smoky Mountains National Park. The project included the removal of a single overhead electric line, which resulted in 13 acres of park land returned to its natural state. This facility continues to serve a remote emergency communications tower in a less expensive and more reliable way.
"We have a long history of testing new battery technologies with a number of battery manufacturers," added De May. "Our research work is now paying off with larger projects that will provide customers more reliable service with lower overall emissions."
In Madison County in the town of Hot Springs, the company is planning a 4-MW lithium-ion battery system that will help improve electric reliability for the town, along with providing services to the overall electric system.
In South Carolina, Duke Energy is planning a 5-MW lithium-ion battery at the Anderson County Civic Center in Anderson County. The battery will provide backup power at the facility, which serves as a critical shelter for emergency service agencies. As a grid asset, the battery will also provide benefits to the bulk power system to enhance reliability.
The battery storage project is just one of many Duke Energy investments in the region. The company recently finished construction of the $817 million Asheville Combined Cycle Station, which became fully operational April 5, 2020. The new station replaced a 344-megawatt, two-unit coal plant at the Asheville site, which retired on Jan. 29, 2020.
The company also recently announced a 5-MW solar facility for the town of Woodfin in Buncombe County.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
8/26/2020Duke Energy Florida announces three new battery storage sites, including special needs shelter and first pairing with utility solar
Source: PR Newswire
ST. PETERSBURG, Fla., Aug. 25, 2020 /PRNewswire/ -- Duke Energy Florida plans to add three battery energy storage sites and nearly 30 megawatts to enhance power quality, reliability and critical services during outages, the company announced Tuesday.
The battery storage sites will be located at Duke Energy's Lake Placid Solar Power Plant in Highlands County, John Hopkins Middle School in Pinellas County, and southwest of Gainesville in Alachua County. The sites will play an important role in supporting public safety during significant weather events, as well as addressing overall electric grid efficiency and reliability.
"Batteries are an exciting technology that allows us to bring more renewables onto the grid and support resiliency in our communities," said Catherine Stempien, Duke Energy Florida state president. "These projects help us determine the best uses so that when battery storage technology becomes even more cost-competitive, as it is projected to do, we can deploy them quickly for the benefit of our customers."
The versatility of battery storage technology allows Duke Energy, as the grid manager and operator, to maximize benefits to customers and the grid.
"Duke Energy's new battery energy storage project will provide students at John Hopkins Middle School with a real-life lesson about solar energy and the need to protect our environment by seeking alternative methods of generating electricity," said Clint Herbic, associate superintendent of operational services for Pinellas County Schools. "It also will be a critical addition for our county's residents, as the school also serves as a Special Needs Hurricane Shelter."
Duke Energy Florida's continued investment in battery energy storage reflects the company's belief that energy storage plays a significant and evolving role in how energy is delivered to customers now and in the future. Through energy storage and microgrids, the utility can enable the integration of more renewables onto the grid and help improve reliability and security while keeping costs affordable for customers.
The battery sites will serve customer electric needs, increase energy security and complement other electric resources on the grid. All three sites are on track to be completed by the end of 2021. Along with three other battery storage installations announced last year in Gulf, Columbia and Gilchrist counties, these sites will fulfill Duke Energy Florida's pledge to customers to add 50 megawatts of battery storage by 2022.
Additional renewables projects
As part of Duke Energy Florida's commitment to renewables, the company is investing an estimated $1 billion to construct or acquire a total of 700 megawatts of cost-effective solar power facilities and 50 megawatts of battery storage through 2022.
Duke Energy is leading the industry in how battery technology is used on the grid. In 2018, the company and University of South Florida St. Petersburg unveiled a 250-kilowatt Tesla battery that is connected to a 100-kilowatt solar array and electric vehicle charging stations – the first of its kind in Florida.
This solar-battery microgrid system manages the energy captured by the solar array, situated on top of the university's parking garage. The solar array plus storage was completed through a $1 million grant from Duke Energy. The microgrid provides a backup power source during an outage for the parking garage elevator, lights and the electric vehicle charging stations. Click here to learn more.
In addition to expanding its battery storage technology and solar investments, Duke Energy Florida is investing in transportation electrification to support the growing U.S. adoption of electric vehicles. The company also is investing in 530 electric vehicle charging stations and a modernized power grid to deliver the diverse and reliable energy solutions customers want and need.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Allison Barker
24-Hour: 800.559.3853
Twitter: @DE_AllisonB
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SOURCE Duke Energy
Article Date
8/25/2020Duke Energy Progress extends commitment to diversity and inclusion to financial sector
Source: PR Newswire
CHARLOTTE, N.C., Aug. 20, 2020 /PRNewswire/ -- Duke Energy Progress, a subsidiary of Duke Energy (NYSE: DUK), has successfully closed a $700 million debt offering with the help of seven diverse and minority-owned financial firms.
This transaction, which involved African American-, disabled-veteran-, Hispanic- and women-owned brokerage firms as co-underwriters to sell the notes, marks the fourth significant transaction since 2016 by a Duke Energy franchise that engaged diversity-owned financial institutions as it raises low-cost capital for investments in cleaner, smarter energy infrastructure. Duke Energy Ohio, Duke Energy Florida and Piedmont Natural Gas have also completed similar transactions.
"As we look at recent events across our nation, engaging banks led by minority-owned professionals has never been more important" said Steve Young, Duke Energy's chief financial officer. "This transaction is yet another example of our long-standing commitment to diversity, inclusion and equity. Ultimately, this deal benefits our customers through capital and betters our communities as we support for minority-owned businesses."
The joint bookrunners included Citigroup Global Markets Inc., Academy Securities, Inc., C.L. King & Associates, Inc., Great Pacific Securities, Loop Capital Markets LLC, Mischler Financial Group, Inc., Samuel A. Ramirez & Company, Inc. and Siebert Williams Shank & Co., LLC.
"By doing business with minority-owned banks, Duke Energy is making a statement in the business community and positioning itself as a pacesetter by providing joint bookrunner opportunities for diverse firms," said Jim Reynolds, Chairman and CEO of Loop Capital Markets. "This isn't the first time Duke Energy has taken deliberate steps to find ways to incorporate such firms into their transactions, and we appreciate the partnership. As an African-American owned financial services firm, we are proud of our expertise, caliber of service and the opportunity to expand our engagement with companies, large and small, and work in deal leadership roles on their capital-raising needs."
Duke Energy Progress priced the bonds on Aug. 17 and closed the transaction on Aug. 20. Net proceeds will be used to repay outstanding borrowings under Duke Energy Progress's term loan facility expiring in Dec. 2020.
"Being a part of the change in our communities involves companies, like Duke Energy, looking beyond internal education and culture changes," said Young. "We must be intentional, going outside of our walls and expanding our working relationships to diverse suppliers, banks and more."
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/20/20208/19/2020 - Duke Energy Renewables closes $109.4 million in a preferred tax equity funding from Goldman Sachs
Duke Energy Renewables closes $109.4 million in a preferred tax equity funding from Goldman Sachs
Source: PR Newswire
CHARLOTTE, N.C., Aug. 19, 2020 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), today announced the closing of $109.4 million in a preferred tax equity funding from Goldman Sachs' Alternative Energy Investing Group.
The investment will be used over 18 months to fund a diverse portfolio of approximately 75 megawatts of solar and solar plus storage projects, which will be developed and constructed by Duke Energy Renewables' subsidiary REC Solar. Projects will feature ground-mount and rooftop commercial and industrial projects, as well as community solar projects across several different states including Arizona, California, Colorado, Hawaii, Massachusetts and Texas.
Goldman Sachs's investment structure, monetizing both cash and tax attributes generated by the projects, is uniquely tailored to finance large, distributed portfolios of renewables assets. Monetizing the investment in this way allows Duke Energy Renewables to free up capital to continue to invest in its distributed generation portfolio.
"Goldman Sachs' investment will support Duke Energy Renewables' continued growth in the distributed energy space, which will further our goals of delivering long-term value to customers and investors," said Chris Fallon, president of Duke Energy Renewables. "This is just one more way we're providing reliable and cost-effective renewable energy to businesses and communities across the United States."
"Our partnership with Duke Energy Renewables demonstrates the benefits of an integrated approach to financing high-quality distributed solar projects at scale. By combining the financing of tax and cash attributes into a single product, Goldman Sachs is able to provide sponsors like Duke Energy Renewables with comprehensive and flexible financing solutions tailored to each individual portfolio's needs," said Vivek Kagzi, of Goldman Sachs' Alternative Energy Investing Group.
The portfolio comprises behind-the-meter and utility-scale installations that will provide power to a wide range of private sector and public sector customers through long-term power purchase agreements (PPAs).
NextPower Capital acted as the financial advisor to Duke Energy Renewables and REC Solar, and Hunton Andrews Kurth LLP and O'Melveny & Myers LLP were the transaction legal counsels for Duke Energy Renewables and Goldman Sachs, respectively.
As one of the nation's top renewable energy providers, Duke Energy currently owns, operates and contracts more than 8,000 MW of capacity and plans to double that by 2025.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. REC Solar is a business unit of Duke Energy Renewables. Visit Duke Energy Renewables and REC Solar for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Goldman Sachs
Founded in 1869, The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm. Goldman Sachs Merchant Banking Division (MBD) is the primary center for the firm's long-term principal investing activity. MBD is one of the leading private capital investors in the world with investments across private equity, infrastructure, private debt, growth equity and real estate.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980-373-0668 | 24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
8/19/20208/18/2020 - Piedmont Natural Gas outlines flexible payment plans for customers behind on natural gas bills
Piedmont Natural Gas outlines flexible payment plans for customers behind on natural gas bills
Source: PR Newswire
CHARLOTTE, N.C., Aug. 18, 2020 /PRNewswire/ -- Piedmont Natural Gas is resuming standard billing practices in the coming weeks in its service territories in North Carolina, South Carolina and Tennessee, offering plans and flexible options to help customers who are behind on their utility payments. Service disconnections for nonpayment will continue to be suspended until October 2020.
"Piedmont's return to standard business practices reflects the hardships some of our customers still face," said Sasha Weintraub, senior vice president for Piedmont Natural Gas. "By offering flexible plans for past-due balances, we want to put our customers first and make it easier for them to get back on track."
Customers can sign up for payment arrangements now in South Carolina and Tennessee, and enrollment will be made available in North Carolina beginning in September. Options and information specific to each state are outlined at Piedmont's COVID-19 Response.
"We're asking customers with a past-due balance to contact us now to establish a plan and mitigate potentially more significant financial challenges in the future," said Mia Haynes, vice president of customer care for Piedmont Natural Gas. "In addition to the extended payment plans Piedmont is offering, customers can explore other financial support options from one of several nonprofit and community agencies in our service territories."
Haynes urges customers to visit piedmontng.com or call Piedmont at 800.752.7504 as soon as possible to learn about available resources and set up a payment plan for their past-due balance.
When the pandemic first began, Piedmont took swift action to help customers by suspending key credit processes, halting disconnections for nonpayment, and eliminating late payment fees and third-party fees for credit card and other payments. Since March of this year, Piedmont and its parent company Duke Energy have donated $6 million for COVID-19 relief efforts, offering support for our customers and communities.
Additional resources for financial support:
Customers with past-due balances who do not contact Piedmont to establish a payment arrangement will be subject to disconnection for nonpayment. These customers will receive notices in their October bill specifying the earliest possible date their natural gas service could be disconnected for nonpayment.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Piedmont Natural Gas media line:
877.348.3612
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SOURCE Piedmont Natural Gas
Article Date
8/18/2020Duke Energy plans gradual return to standard business operations while continuing to assist South Carolina customers in need
Source: PR Newswire
GREENVILLE, S.C., Aug. 17, 2020 /PRNewswire/ -- Duke Energy will begin its standard billing and payment practices in South Carolina in the coming weeks, keeping service disconnections for nonpayment of electric service suspended until October 2020.
South Carolina customers who are experiencing financial hardship due to the COVID-19 pandemic now will have until October to pay previous balances to their accounts or make payment arrangements.
Duke Energy Carolinas and Duke Energy Progress – the company's two electric utilities in South Carolina – will return to standard billing and payment practices as of Oct. 1, which means customers in arrears will receive notices about their past-due balances. However, the earliest possible date their electric service could be disconnected is Oct. 12.
For several months, the company has been reaching out to customers behind on their bills to offer payment plans. We are actively working with customers to prevent the disconnection of electric service.
The company urges eligible customers to take advantage of available financial support through the Low-Income Home Energy Assistance Program (LIHEAP) funds available through statewide community action agencies. The COVID-19 pandemic has caused extraordinary financial and emotional hardships for many in the community. Customers who need assistance are encouraged to visit 211.org to learn about available resources.
Those in need of a payment arrangement are not required to make a down payment and no customer on a payment plan who is current on that arrangement will be disconnected.
"Many of our customers are facing unprecedented adversity during this pandemic, so for months we have expanded the ways we can help them avoid power interruptions," said Mike Callahan, Duke Energy's South Carolina state president. "Our goal has been to work with customers as South Carolina continues to open up the economy. We will continue to help our customers access resources to assist and provide additional information that can help reduce their bills as we return to standard billing practices."
In response to the COVID-19 pandemic in March, the company immediately launched a sweeping series of steps to help customers, including voluntarily suspending disconnections for nonpayment, as well as late-payment fees and other payment related fees.
During the pandemic, the Duke Energy Foundation has contributed more than $500,000 in Foundation and corporate funds to South Carolina not-for-profit organizations, focusing on hunger relief, social services and bill assistance needs of its customers and communities, as well as support for small businesses.
More about the measures Duke Energy has taken in response to the pandemic can be found at dukeenergyupdates.com.
Enhanced flexibility for customers
Duke Energy has been working with South Carolina customers who are accumulating past-due balances on their electric utility bills, offering payment plans to mitigate potentially more significant financial challenges in the future.
"If you are facing a financial hardship, we are here to help," said Lesley Quick, Duke Energy's vice president for customer service. "Our customer contact specialists are prepared to support our customers through these challenging times and provide manageable solutions so customers can keep their lights on."
Expanded assistance options
Duke Energy will continue to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts includes:
What customers can expect
Duke Energy Carolinas and Duke Energy Progress residential and nonresidential electric customers with delinquent balances who have not requested a payment arrangement before Oct. 1 could be subject to disconnections for nonpayment beginning Oct. 12 under regular credit and notice timelines. Customers who are in arrears will receive notices about their past-due balances and the earliest possible date their electric service could be interrupted.
Even if a customer has turned down or not responded to a previously offered payment arrangment offer, such arrangements can still be made after a notice is received in order to avoid disconnection.
While the companies have been reaching out to offer payment arrangements ahead of time, Duke Energy recognizes that it may have higher-than-normal call volume and encourages customers to consider using the online self-service options to avoid longer wait times.
Customers should download the company's mobile app or visit duke-energy.com for information about most service transactions.
Customers who need financial assistance are encouraged to visit 211.org to locate available resources. The free service can help customers find local community agencies that provide assistance to meet a wide range of needs, including:
To get started, simply visit 211.org or dial 211 from your phone.
Service orders, field operations
Duke Energy also suspended some of its field operations and non-emergency work inside customers' premises. However, as a provider of an essential service, the company continues working hard to deliver the reliable power customers need while following CDC guidelines to protect the health and well-being of its communities.
The company has been methodically resuming some activities, consistent with its commitment to safely and reliably serve customers.
As the company continues to resume service orders previously suspended, personnel will follow CDC guidelines to complete work.
Duke Energy employees and contractors who may interact with customers or engage in fieldwork have access to necessary personal protective equipment and will maintain social distancing to the extent practical.
For work that must be scheduled, the company will contact customers in advance to inform them of the nature of the work and the safety protocols that will be used. Customers will have the right to refuse and reschedule the work for a later date, unless an immediate safety issue exists. If you have questions regarding work that needs to be scheduled, please call us.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy media line:
800.559.3853
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SOURCE Duke Energy
Article Date
8/17/2020Duke Energy plans gradual return to standard business operations while extending assistance for North Carolina customers in need
Source: PR Newswire
CHARLOTTE, N.C., Aug. 17, 2020 /PRNewswire/ -- Duke Energy will begin its standard billing practices in North Carolina in the coming weeks, keeping service disconnections for nonpayment suspended until October 2020, a full month beyond its required moratorium. North Carolina customers who are experiencing financial hardship due to the COVID-19 pandemic will have until October to pay overdue balances or make payment arrangements.
Beginning in September, those who need additional time to pay any outstanding balance will be able to establish flexible payment plans with no down payment required. Additionally, Duke Energy will continue to waive late fees until further notice.
The company also urges eligible customers to take advantage of available financial support through the North Carolina Department of Health and Human Services' Crisis Intervention Program and Low-Income Home Energy Assistance Program (LIHEAP) funds available through statewide community action agencies.
In response to the COVID-19 pandemic in March, the company immediately launched a sweeping series of steps to help customers, including voluntarily suspending disconnections for nonpayment, as well as late-payment fees and residential customer fees for credit card payments and other payment types.
During the pandemic, the Duke Energy Foundation has contributed more than $2.1 million in Foundation and corporate funds to North Carolina not-for-profit organizations, focusing on food, bill assistance and education needs of its customers and communities.
"Many of our customers are facing unprecedented adversity during this pandemic. We want to be thoughtful and provide extended payment options to avoid power interruptions," said Stephen De May, Duke Energy's North Carolina president. "As financial assistance has become available for qualified customers, we believe now is the right time to share our plans to resume more standard operations. We will, however, continue to help our customers access resources to assist and provide additional information that can help reduce their bills."
Enhanced customer care
Duke Energy will be working with North Carolina customers who are accumulating past-due balances on their utility bills, offering payment plans beginning in September to mitigate potentially more significant financial challenges in the future.
"If you are facing a financial hardship, we are here to help," said Yolanda Holiday, Duke Energy general manager for customer service. "Our customer contact specialists are prepared to support our customers through these challenging times and provide manageable solutions so customers can keep their lights on."
Customers will also have access to self-service options on duke-energy.com.
Expanded assistance options
Duke Energy will also continue to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts includes:
What customers can expect
Duke Energy Carolinas and Duke Energy Progress will return to standard billing and payment practices in October, which means customers in arrears will receive notices about their past-due balances and the earliest possible date their service could be interrupted. That change may result in disconnections for nonpayment under regular credit and notice timelines in October for residential and nonresidential customers with delinquent balances who do not request a payment arrangement.
The company urges customers to establish a payment plan to avoid disconnection.
The company anticipates higher-than-normal call volume and encourages customers to consider using the online self-service options now to avoid longer wait times.
Customers should download the company's mobile app or visit duke-energy.com for information and most service transactions. Customers who are unable to self-serve can contact the customer contact center at:
Duke Energy's customer service specialists are available Monday through Friday, 7 a.m. to 7 p.m. to assist customers with customized payment plans that meet their specific situations.
Customers who need financial assistance are encouraged to visit 211.org to locate available resources. The free service can help customers find local community agencies that provide assistance to meet a wide range of needs, including:
To get started, simply visit 211.org or dial 211 from your phone.
Service orders, field operations
The company also suspended some of its field operations and non-emergency work inside customers' premises. However, as a provider of an essential service, the company continues working hard to deliver the reliable power customers need while following CDC guidelines to protect the health and well-being of its communities.
The company has been methodically resuming some activities, consistent with its commitment to safely and reliably serve customers.
As the company continues to resume service orders previously suspended, personnel will follow CDC guidelines to complete work.
Duke Energy employees and contractors who may interact with customers or engage in fieldwork have access to necessary personal protective equipment and will maintain social distancing to the extent practical.
For work that must be scheduled, the company will contact customers in advance to inform them of the nature of the work and the safety protocols that will be used. Customers will have the right to refuse and reschedule the work for a later date, unless an immediate safety issue exists. If you have questions regarding work that needs to be scheduled, please call us.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy media line:
800.559.3853
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SOURCE Duke Energy
Article Date
8/17/20208/12/2020 - Duke Energy provides more than $1 million in grants to support social justice, racial equity
Duke Energy provides more than $1 million in grants to support social justice, racial equity
Source: PR Newswire
CHARLOTTE, N.C., Aug. 12, 2020 /PRNewswire/ -- Duke Energy, through its foundation, today announced the recipients of more than $1 million in employee-directed grants to nonprofit organizations committed to social justice and racial equity.
Grants will be distributed to 80 organizations across seven states where the company has electric and gas customers – North Carolina, South Carolina, Florida, Indiana, Ohio, Kentucky and Tennessee.
On June 8, Duke Energy pledged $1 million to support social justice and racial equity. In a first for the company, Duke Energy and Piedmont Natural Gas employees helped identify which organizations in each state would receive support. Those came from the company's Advocates for African Americans employee resource group, as well as other diversity and inclusion councils.
A complete list of grantees can be found here.
"When Duke Energy committed to giving $1 million across its jurisdictions to support social justice and racial equity and engaged employees to identify and direct the funds in our communities, I was honored to be a part of the process," said Chiquita Clark, chair of Duke Energy's Florida chapter of Advocates for African Americans and member of Duke Energy's enterprise Diversity and Inclusion Council. "I'm proud of the company's response and actions we are taking both internally and externally to be a positive voice for change."
One example of an organization receiving support to reduce disparate outcomes is the Pinellas County, Fla., Urban League.
"Our Pinellas County Urban League and our Urban League Young Professionals are pleased to partner with Duke Energy in heightening our role of being a major advocate, especially for those people who are most vulnerable in society, seeking, in part, to ensure their voices are heard on issues important to them, and their views and wishes genuinely considered when decisions are being made about their lives," said Watson L. Haynes II, president and CEO, Pinellas County Urban League.
Duke Energy is also strengthening its internal diversity and inclusion programs to foster greater awareness, respect and inclusion.
"Duke Energy is committed to being part of the long-term solution to end systemic racism and inequality," said Joni Davis, Duke Energy chief diversity and inclusion officer. "We believe in living by our values and cultivating a workplace and community that make diversity, equity and inclusion a priority."
In addition to these grants, employees also have the opportunity to support local organizations through the Duke Energy Foundation's matching grant program, Dollars4Good, as well as its Hours4Good program, which enables employees to earn grants for volunteer hours logged.
The $1 million in grants and expanded internal programs build upon the company's past efforts to support and encourage diversity, inclusion and equity in our company and communities.
The company will continue to engage local organizations and leaders to understand how to be a part of the long-term solution to the social justice issues our communities face.
Learn more on Duke Energy's illumination website about the employee-directed grant process.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Contact: Shawna Berger
24-Hour: 800.559.3853
Twitter: @DE_ShawnaB
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SOURCE Duke Energy
Article Date
8/12/2020Duke Energy reports second-quarter 2020 financial results
Source: PR Newswire
CHARLOTTE, N.C., Aug. 10, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) today posted its second-quarter 2020 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chair, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website, or by dialing 800-458-4121 in the U.S. or 323-794-2093 outside the U.S. The confirmation code is 1877808. Please call 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 20, 2020 by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S., and using the code 1877808. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
800.559.3853
Analysts contact: Bryan Buckler
704.382.2640
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SOURCE Duke Energy
Article Date
8/10/2020Duke Energy, South Carolina Chamber of Commerce partner to support small businesses impacted by COVID-19
Source: PR Newswire
GREENVILLE, S.C., Aug. 7, 2020 /PRNewswire/ -- Duke Energy is teaming up with the South Carolina Chamber of Commerce to start a new program aimed at helping small businesses rebound and survive during the ongoing COVID-19 crisis.
The Chamber will use a $100,000 grant from the Duke Energy Foundation to provide support to 56 small businesses in the counties Duke Energy serves in the state, with half of those owned by minorities and women.
The program will provide mentoring over six months from experts in the fields of marketing, legal support, advocacy training, governance, sustainability, finance and taxes. Participants will also receive a $1,000 microgrant to help with expenses related to the pandemic.
Additionally, the Chamber will offer online classes taught by subject-matter experts on these and other topics to small businesses across South Carolina.
"Small businesses are the lifeblood of our economy in South Carolina, and the pandemic has challenged their very existence these past few months," said Mike Callahan, Duke Energy's South Carolina president. "We're pleased to work with the state Chamber to offer these critical resources to the business community during these challenging times."
The Chamber is in the process of standing up the structure of the program and will announce additional details on how businesses can participate in the coming weeks.
"The S.C. Chamber is excited to partner with the Duke Energy Foundation to administer this new program focused on helping small and minority owned businesses in the state," said Ted Pitts, president and CEO of the state Chamber. "This creative small business program will help entrepreneurs and their companies grow, benefiting them, their communities and the state."
For information on what Duke Energy is doing to assist customers and respond to the COVID-19 pandemic, visit dukeenergyupdates.com. For more on the Chamber's efforts, visit https://www.scchamber.net/covid-19-resource-hub.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy media contact: Ryan Mosier
800.559.3853
South Carolina Chamber media contact: Katie Titus
916.996.2015
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SOURCE Duke Energy
Article Date
8/7/20207/31/2020 - Duke Energy urges Florida customers to prepare for Hurricane Isaias amid coronavirus pandemic
Duke Energy urges Florida customers to prepare for Hurricane Isaias amid coronavirus pandemic
Source: PR Newswire
ST. PETERSBURG, Fla., July 31, 2020 /PRNewswire/ -- With Florida in the path of Hurricane Isaias, Duke Energy Florida is preparing for potential outages and is encouraging customers to do the same.
Hurricane Isaias is forecast to reach the Southeast coast of Florida on Saturday, bringing strong winds, heavy rainfall and the potential for flooding. Duke Energy customers in central and eastern Florida may experience weather-related outages.
"We understand now more than ever that our customers are depending upon us to provide safe and reliable power," said Jason Cutliffe, Duke Energy's storm director for Florida. "With COVID-19, customers are spending more time at home and even brief outages can be concerning. Our team is ready to respond as quickly and safely as possible to minimize the effects to our customers. We'll also adjust our plans in the event the path of the storm shifts or changes."
During non-pandemic times, restoring power after a storm can be difficult for utility repair crews, as travel and work conditions can be affected by high winds and widespread flooding. In addition to these concerns, Duke Energy's detailed storm response plan has incorporated CDC recommendations for COVID compliance and social distancing measures to help keep our customers and communities safe.
Crews are wearing face coverings when the job allows and have modified work practices to reduce interactions. Customers are asked to remain outside of marked work zones and refrain from approaching crews working to restore outages during storms.
Outage alerts and reporting power outages
Before the storm hits, customers can sign up to receive outage alerts and should make sure their contact information is up to date and select their communication preferences.
Customers who experience a power outage can report it the following ways:
Important safety tips and reminders
Duke Energy encourages customers to have a plan in place if they experience a power outage. Below are tips to help you and your family stay safe.
More tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Power restoration process
Duke Energy focuses on restoring power in a sequence that enables power restoration to public health and safety facilities and to the greatest number of customers as safely and quickly as possible. Click here for information on how Duke Energy restores power.
High-water safety reminders
Tips to protect refrigerated food during a power outage
For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Allison Barker
800.559.3853
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SOURCE Duke Energy
Article Date
7/31/20207/31/2020 - Fuel savings will decrease bills for Duke Energy Carolinas customers in South Carolina beginning this fall
Fuel savings will decrease bills for Duke Energy Carolinas customers in South Carolina beginning this fall
Source: PR Newswire
GREENVILLE, S.C., July 31, 2020 /PRNewswire/ -- Duke Energy Carolinas is proposing a decrease in monthly fuel costs for its South Carolina customers beginning this fall as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants.
If approved, a typical residential customer in South Carolina using 1,000 kilowatt-hours (kWh) per month would see a decrease of $6.81, or about 5.6 percent. Commercial customers would see an average decrease in their bills of about 5.6 percent, and industrial customers would receive an average decrease of about 9.8 percent. The new rates would go into effect Oct. 1, 2020.
Duke Energy Carolinas makes a fuel cost recovery filing annually with the Public Service Commission of South Carolina (PSCSC). The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates.
Duke Energy Carolinas works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Joint dispatch of Duke Energy's generation fleet in the Carolinas also helps to minimize the company's fuel costs. The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly.
Duke Energy Carolinas serves more than 600,000 customers primarily in the Upstate region of South Carolina. The proposed decrease would affect the bills of all Duke Energy Carolinas customers in South Carolina. The company's other South Carolina utility -- Duke Energy Progress -- made its annual fuel filing earlier this year.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
7/31/2020Duke Energy teams with SustainRNG to develop renewable natural gas on dairy farms
Source: PR Newswire
CHARLOTTE, N.C., July 30, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced a partnership with SustainRNG to harness renewable natural gas (RNG) on dairy farms, starting in the southeastern United States.
Duke Energy has invested in a minority share of the company and retains the option to invest in future operating projects.
SustainRNG will engineer, finance, construct and operate RNG sites in collaboration with dairy farmers. By capturing and processing methane from farms into RNG, Duke Energy and SustainRNG will be able to provide a locally generated renewable energy source to end users nationwide via injection into the existing natural gas pipeline network.
Renewable natural gas is methane that has been captured from the breakdown of organic waste and processed to remove contaminants and meet natural gas pipeline quality standards. Trane Technologies invented the advanced methane generation technology and has exclusively licensed its system to SustainRNG for use in the agricultural sector.
"Duke Energy is committed to supporting sustainable energy solutions, and our partnership with SustainRNG will bring more renewable natural gas into the market, which benefits both the environment and customers," said Phillip Grigsby, Duke Energy's senior vice president of ventures and business development. "In addition, these projects will create jobs, both in the construction and ongoing operation of the RNG facilities."
The RNG projects also will provide an additional revenue stream for farmers while simultaneously reducing their waste management liability.
"We are excited to be partnering with dairy farmers, who will be co-owners of the projects and have a stake in their success," said SustainRNG Chief Executive Officer Michael Shore. "Equally important, our projects will help farmers to be more sustainable locally and leverage the power of the agriculture sector to mitigate climate change."
The advanced technology employed in SustainRNG's projects uses specialized anaerobic digestion units, or parallel flow digesters, that stratify the flow of particles by size, facilitating the breakdown of the organic materials in manure. SustainRNG is initially targeting use of the technology to deploy digesters on dairy farms of 3,000 to 6,000 head that use water wash-down manure management, which is currently an underserved niche in the dairy digester market.
SustainRNG expects to complete its first project in 2021.
The terms of the transaction were not disclosed.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About SustainRNG
SustainRNG is an agile, entrepreneurial developer of renewable natural gas projects in the agriculture sector formed to commercialize the advanced methane generation technology under license from Trane Technologies. The company is transforming how the agriculture sector manages manure, helping farmers be more sustainable, and leveraging the power of the agriculture sector to solve climate change. SustainRNG was founded by CleanSource Capital, based in Charlotte, N.C., and is an affiliate of the Abundant Power Group. The company can be reached at info@sustainrng.com
Media Contact: Jason Wheatley
Office: 704.731.4034 l 24-Hour: 877.348.3612
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SOURCE Duke Energy
Article Date
7/30/2020Duke Energy, Buncombe County, N.C., to partner on solar project
Source: PR Newswire
CHARLOTTE, N.C., July 29, 2020 /PRNewswire/ -- Continuing efforts to bring more renewable energy to North Carolina, Duke Energy and Buncombe County will team up to build a new solar power plant on a retired landfill in the town of Woodfin.
Duke Energy will own and operate the 5-megawatt solar power plant located on the closed Buncombe County landfill – near Interstate 26 and the French Broad River.
The new solar plant will help meet the county's 2030 renewable energy goals, while providing energy to all Duke Energy customers in the Carolinas.
"Working with local communities is critical to advancing our clean energy plan," said Stephen De May, Duke Energy's North Carolina president. "This project is an innovative example of how to creatively repurpose land to advance community goals."
The plant is expected to come online in the second half of 2021 and will produce enough energy annually to power about 1,000 homes and businesses.
"We are excited to see the solar farm on the county's retired landfill moving forward. This is a great way to make productive use of land that cannot be used for many other purposes while helping the county meet its goal of using 100% renewable energy by 2030," notes Board of Commission Chairman Brownie Newman.
Sourcing its renewables from local generation was identified as a top priority during the county's renewable energy community engagement process. This project will allow the county to reach nearly 20% of its renewable goal with locally sourced clean energy.
Background
The landfill stopped operating in 1996. To avoid disturbing the ground covering, the solar racking system will be built on concrete blocks instead of being anchored into the ground. Underground cabling will be kept to a minimum. Check out video footage of the site.
The project will be located on 25 acres and will be connected to the Duke Energy power grid. Under a 25-year agreement, the county will lease the land to Duke Energy. For Buncombe County to include the solar power generated toward its 100% renewable energy goal, it will own the Renewable Energy Certificates (REC) from the Duke Energy power plant to offset the energy used from the county's operations.
The solar project is just one of many Duke Energy investments in the region. The company recently finished construction of the $817 million Asheville Combined Cycle Station, which became fully operational April 5, 2020. The new station replaced a 344-megawatt two-unit coal plant at the Asheville site, which retired on Jan. 29, 2020.
The company's efforts in the region also include increased participation in energy efficiency and conservation programs to reduce energy usage, a battery storage project in Asheville and a solar and battery microgrid system in neighboring Madison County.
More details about the landfill solar plant are in the company's filing with the North Carolina Utilities Commission. The regulatory body must give final approval to the project.
Duke Energy is a national leader in renewable energy. It operates 40 solar power plants in North Carolina. The state is ranked second in the nation for overall solar generation.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
7/29/2020Duke Energy provides $648,000 in grants to build diverse workforce in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., July 28, 2020 /PRNewswire/ -- Duke Energy announced today it is awarding 16 organizations in North Carolina with $648,000 in grants to support workforce education and training programs.
Programs to address the most pressing skill gaps in local communities, and programs that cultivate the energy sector's future workforce, were priorities for consideration.
"At Duke Energy, we recognize the importance of expanding access to workforce training opportunities in the communities we serve, especially those that are underserved," said Stephen De May, Duke Energy's North Carolina president. "We look forward to working with these organizations to build the diverse workforce North Carolina needs to be a strong, successful economic engine."
North Carolina Central University (NCCU) received one of this year's workforce grants, and will use it to help continue its recruitment efforts and targeted academic support to increase its number of workforce-ready graduates. The Duke Energy Foundation has been a partner with NCCU since it began its dual physics/engineering degree program in 2015 in partnership with North Carolina State University.
"With Duke Energy Foundation funding, we were able to strengthen our recruitment efforts, which enabled us to increase enrollment in our physics program by 82%, and currently we have nearly 40 majors," said Dr. Caesar Jackson, professor of physics at NCCU. "This is an outstanding accomplishment during a time when the number of physics degree programs at HBCUs has been declining."
The 2020 Powerful Communities grants, from the Duke Energy Foundation with support from Piedmont Natural Gas, aim to bolster programs serving under-represented, low-income or diverse audiences, including women and minorities.
The following organizations received grants, and full descriptions of their programs can be found here.
The grants are part of Duke Energy's Powerful Communities philanthropic program, which awards strategic charitable grants to nonprofit organizations working to build powerful communities by bolstering education, developing the future workforce of the energy sector and conserving and protecting our environment.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/28/2020Duke Energy Florida awards $655,000 in workforce grants to help job seekers and students skill up for employment
Source: PR Newswire
ST. PETERSBURG, Fla., July 28, 2020 /PRNewswire/ -- Duke Energy Florida is awarding $655,000 in grants to 19 workforce development and education programs as the region tackles economic disruptions from the coronavirus pandemic.
The grants support education and training programs that address the most pressing skills gaps in communities served by Duke Energy Florida, as well as programs to cultivate the energy sector's future workforce.
"At Duke Energy, we believe philanthropic giving is important to help our cities, our towns and our communities not only survive the current COVID-19 pandemic, but also grow and thrive," said Catherine Stempien, state president Duke Energy Florida. "During these unprecedented times, attracting, training and educating a diverse workforce for the future with skills employers need, can help our communities emerge from this pandemic stronger and more resilient."
In recent years, Duke Energy has given millions of dollars to bolster organizations that are preparing to meet the industry's transformation and evolving customer expectations. One of those organizations is Lake-Sumter State College, which received $120,000 this year to continue support for the college's Increasing Access to Energy Technology Programs and Careers.
"We are incredibly grateful to Duke Energy for their generous and ongoing support of our energy programs," said Stan Sidor, president of Lake-Sumter State College. "Our strong partnership allows us to offer an industry-leading education for our students who can seamlessly transition into high-wage jobs in the energy industry. We believe our program is second to none in providing an expansive and in-depth curriculum for line workers and relay technicians."
Also, St. Petersburg College is a 2020 recipient of a $100,000 award to support the launch of the Diversity in Energy Initiative in partnership with Duke Energy Florida. The program will target and recruit historically underserved lower-income, minority and female populations for careers in the energy field and connect them to related educational pathways.
"We are proud to be able to exercise our relationships to bring awareness and access across our communities, especially in underserved areas," said Matthew Lio-Trao, St. Petersburg College's vice president of Academic Affairs. "This career nationally averages an annual salary of over $77,000, and it is in demand locally and regionally. We expect to have many successful graduates of the program."
Grant Recipients, Programs and Awards
Tampa Bay area:
Greater Orlando area:
Greater Tallahassee area:
Statewide:
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Allison Barker
Mobile: 304.558.9104| 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/28/2020Duke Energy to use innovative technology to make wind turbine repair faster and cleaner
Source: PR Newswire
CHARLOTTE, N.C., July 28, 2020 /PRNewswire/ -- Duke Energy Renewables is making wind turbine repair and maintenance a breeze by offering a first-of-its-kind service option to wind energy producers around the U.S. An alternative lifting service is now available through Duke Energy Renewable Services, an industry-leading operator and maintenance provider for third-party wind and solar photovoltaic (PV) facilities in the U.S.
Traditional wind turbine maintenance requires many cranes, a massive construction zone and precise scheduling of multiple contractors and equipment. The alignment of multiple resources inserts an element of risk to completing wind turbine projects on time and on budget. Duke Energy Renewables' alternative lifting service makes that process more efficient.
"Streamlining the wind turbine maintenance process to one call, one truck, one team and in as little as one day is a new service, we're thrilled to offer our commercial wind energy customers," said Jeff Wehner, vice president of Duke Energy Renewables. "U.S. wind power has more than tripled over the past decade. As wind energy resources continue to grow, utilizing more efficient maintenance services will help to optimize wind energy resources so that they produce the greatest amount of renewable energy possible."
The service is the first U.S. commercial offering that leverages the GenHook LT™ all-in-one crane package from KenzFigee – a well-established global specialist supplier and service provider of tailor-made cranes and equipment for the marine, offshore and wind energy industries.
"KenzFigee is proud to deliver a product that reflects Duke Energy's commitment to sustainability and service excellence," said Jan-Pieter Klaver, CEO of KenzFigee.
"The complexity and coordination of so many people and pieces of equipment often results in costly project delays," added Wehner. "We knew there had to be a better way, and working closely with KenzFigee, we found it."
A better option for wind turbine maintenance
Some key benefits now available to commercial wind site operators who choose an alternative lifting solution include:
Follow this link for an animated video demonstrating the alternative lifting service.
Large Corrective Services
Duke Energy Renewable Services offers a variety of preventive and corrective services to commercial wind sites within the U.S.
The Large Corrective Team services and replaces major components in wind turbines in excess of 100 meters tall. The massive turbine blades can sweep a vertical airspace of about an acre and the blades contribute to a total wind turbine height exceeding 400 feet.
The Large Corrective Team is ISO 9001:2015 certified and boasts an industry-leading safety record and offers experienced technicians, specialized tooling, dedicated project management, scheduling, crane management and lift planning to help keep U.S. wind turbines spinning.
"Wind power is already a top clean energy source," said Tony Morelli, who manages the Large Corrective Team. "We're proud to deploy this state-of-the-art, zero-emission crane to make it even cleaner."
For more information about this and other available Duke Energy Renewables Services, contact Duke Energy Renewable Services today.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/28/20207/27/2020 - Duke Energy begins construction of nearly 100 megawatts of new solar capacity in North Carolina
Duke Energy begins construction of nearly 100 megawatts of new solar capacity in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., July 27, 2020 /PRNewswire/ -- Continuing its expansion of solar energy to deliver cleaner energy for customers, Duke Energy today announced it has begun construction on two major solar projects in North Carolina. The projects:
The projects were selected as part of a competitive bidding process that was established from 2017's landmark solar legislation in North Carolina. The projects were among the most cost-effective and will deliver clean solar energy at the lowest possible cost.
"Catawba County applauds Duke Energy's efforts in partnering with the private sector to increase the use of cost-effective renewable energy," said Randy Isenhower, chair, Catawba County Board of Commissioners. "This project will bring jobs to our community during construction and generate clean energy for years to come."
Together, the projects will feature about 400,000 solar panels and generate enough energy to power approximately 20,000 homes and businesses. Both projects are scheduled to come online by the end of this year. At peak construction, a combined 380 workers will be employed at the two sites.
"Building more solar supports Duke Energy's strategy of lowering carbon emissions as we strive to meet our 2050 net-zero carbon goal," said Stephen De May, Duke Energy's North Carolina president. "We participated in a rigorous bidding process – competing with other companies to bring more renewable energy to the state."
On-site workers will fluctuate throughout the construction process. Duke Energy will ensure safe work practices by contractors meeting the highest expectations. Duke Energy will also provide proper traffic management support to ensure safe operations around the site at all times.
Under North Carolina's Competitive Procurement for Renewable Energy, proposed projects must be built where there is a need for energy capacity on the Duke Energy system in North Carolina or South Carolina. The bids can come from any company, including Duke Energy, and can be in the form of power purchase agreements (PPA), utility self-developed facilities or utility asset acquisitions.
Duke Energy maintains more than 3,300 MW of solar power on its energy grid in North Carolina, which could power about 700,000 homes and businesses at peak output. The company also operates 40 solar facilities in the state. North Carolina currently ranks No. 2 in the nation for overall solar power.
With nuclear, hydro and renewable energy, more than half of North Carolina's energy mix is carbon free.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
7/27/2020Duke Energy announces sustainability expert as new Foundation president and head of national engagement strategy
Source: PR Newswire
CHARLOTTE, N.C., July 23, 2020 /PRNewswire/ -- Duke Energy today named Katherine Neebe as president, Duke Energy Foundation and vice president, national engagement and strategy to the company. She also will serve as chief sustainability officer.
Neebe has deep experience building strategic partnerships that create significant change. She will play a key collaborative role working with the company's customers, communities, employees, non-governmental organizations and other stakeholders to develop solutions to meet customer needs for continued reliable and affordable energy – while simultaneously working to achieve the company's goal of net-zero carbon emissions by 2050.
Neebe will also lead the Duke Energy Foundation, which provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars.
As vice president, national engagement and strategy and chief sustainability officer, she will oversee the company's sustainability, advocacy and stakeholder engagement teams.
"Building stronger communities where Duke Energy customers and employees live and work is fundamental to our core mission," said Julie Janson, Duke Energy's executive vice president of external affairs and president, Carolinas region. "With her strong background in building lasting relationships, we are excited to have Katherine join our team."
Neebe joins Duke Energy from Walmart, where she most recently was senior director, environmental, social, governance on the global responsibility team. Prior to Walmart, Neebe worked for the World Wildlife Fund, where she managed one of the world's largest corporate-NGO partnerships focused on water, sustainable agriculture and climate.
Said Neebe, "I'm passionate about working for purpose-driven companies that make critical contributions to society. I look forward to the opportunity to take my past experience and apply it to the energy industry – to help Duke Energy build vital communities."
Neebe starts her new role in mid-August, based in Charlotte.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/23/2020Duke Energy Renewables brings another 200-MWac solar plant online in Texas
Source: PR Newswire
CHARLOTTE, N.C., July 23, 2020 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), today announced that its 200-megawatt alternating current (MWac) Rambler Solar project in Tom Green County, Texas, has begun commercial operation.
The Rambler Solar project is the second 200-MWac Texas solar facility that Duke Energy Renewables has brought online this year, bringing its total Texas solar portfolio to over 500 MWac in operation. In early July, the company announced the commercial operation of its Holstein Solar project in Nolan County.
"We're pleased to continue our expansion of solar energy resources in Texas, which is experiencing an increasing demand for power," said Chris Fallon, president of Duke Energy Renewables. "The Rambler Solar project will bring significant economic benefit to the state and generate clean energy to meet the area's growing energy needs."
Duke Energy Renewables acquired the Rambler Solar project in September 2019 from Recurrent Energy, a wholly owned subsidiary of Canadian Solar, Inc.
"Texas is one of the largest and fastest-growing solar markets in the U.S., where the energy landscape is changing rapidly. We are proud to partner with Duke Energy Renewables in the Rambler Solar project to provide clean, affordable and reliable energy to local communities and look forward to contributing more high-quality solar projects in this important market," said Dr. Shawn Qu, chairman and CEO of Canadian Solar.
The energy generated from the Rambler Solar project is being sold to a customer under a 15-year agreement. The 200-MWac project, spanning approximately 1,700 acres west of San Angelo, Texas, contains more than 733,000 Canadian Solar high-efficiency bifacial modules. Rambler Solar will power the equivalent of 40,000 homes.
The facility's construction was performed by Signal Energy. Duke Energy Renewables will provide long-term operations and maintenance services to the project.
The project employed approximately 400 workers during peak construction. Along with indirect economic benefits that accompany solar project development – such as increased local spending in the service and construction industries – Rambler will also directly provide several million dollars to Tom Green County and to the local school district over the 40-year life of the project.
As one of the nation's top renewable energy providers, Duke Energy currently owns, operates and contracts more than 8,000 MW of capacity and plans to double that by 2025.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
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SOURCE Duke Energy
Article Date
7/23/2020Duke Energy Progress customers receiving 560 megawatts of cleaner energy from new natural gas power plant in North Carolina
Source: PR Newswire
ASHEVILLE, N.C., July 22, 2020 /PRNewswire/ -- Duke Energy Progress customers in North Carolina and South Carolina are receiving 560 megawatts of cleaner energy from the company's new state-of-the-art Asheville Combined Cycle Station in Arden, N.C.
(Editor's note: Download photos and drone video clips.)
The new station generates enough energy to serve about 450,000 homes.
The $817 million station includes two electricity-producing power blocks with four generators and more than 18,000 components. The first 280-megawatt power block came online in December 2019, and the second 280-megawatt power block became fully operational in April 2020.
As part of the project, Duke Energy shut down a 1960s-era coal-fired power plant at the Asheville site in January 2020. Demolition of the coal plant is underway, with completion expected in 2023.
The Asheville Combined Cycle Station is Duke Energy's most efficient plant in the Carolinas – and 75% more efficient than the retired coal plant it replaced.
Customers in North Carolina and South Carolina benefit dollar for dollar from this efficiency through lower power plant fuel costs.
"Customers want cleaner, more reliable energy, and we're committed to delivering on this expectation," said Kevin Murray, vice president of project management and construction. "By building the new Asheville station, we're significantly reducing air emissions – including carbon dioxide, sulfur dioxide and nitrogen oxides – and continuing to move toward our companywide goal of cutting carbon dioxide emissions by 50% by 2030."
Because natural gas burns more cleanly than coal, carbon dioxide emissions at the site have dropped by about 60% per megawatt-hour in comparison to the now-retired coal plant. Sulfur dioxide is expected to decrease by 99% and nitrogen oxides by 40%. Mercury has also been eliminated.
Economic benefits
Construction and related activities provided significant economic benefits: 1,300 construction jobs; $128 million in work to suppliers of goods and services in the Carolinas, Midwest and Florida; and $17 million in work for businesses owned by minorities, women and veterans.
The project also generated $1.7 million in new property taxes for Buncombe County, making Duke Energy Progress' 2019 total property tax bill $4.4 million (paid in 2020).
Investments in renewables and grid improvements
In addition to building the Asheville Combined Cycle Station, the company is investing more than $175 million in western North Carolina to upgrade power lines, electrical substations and other equipment and systems that move energy from power plants to customers.
The company is also investing $120 million in renewable energy in the region, including:
Community giving and involvement
For more than 50 years, the Asheville site has helped fuel a strong economy in the region, and employees have donated their time and money to give back to the communities where they live and work.
In Buncombe County, Asheville project teams helped build houses for underprivileged families; spearheaded food, clothing, school supplies and blood drives; and collected toys and money to help children during the holidays.
Since 2013, Duke Energy Progress has also contributed $4.7 million to Buncombe County through Duke Energy Foundation grants and community sponsorships.
Asheville Combined Cycle Station
The Asheville Combined Cycle Station is a state-of-the-art, efficient and environmentally responsible facility.
The station uses cleaner natural gas, replaces a 1960s-era coal plant and significantly reduces air emissions. The station's four generators offer the latest technology with a proven performance. A heat recovery system captures and then reuses heat from the hot exhaust gases to make more energy, making it efficient.
Two design features also give Duke Energy operators more flexibility to ensure reliability and meet customer demand. First, the station is designed with bypass stacks, allowing the combustion turbine generator to continue producing energy when the heat recovery steam generator or steam turbine generator needs maintenance. Second, if natural gas becomes unavailable, the station can burn diesel fuel.
Click learn how the station works for more details.
About 30 employees operate and maintain the plant; most of these employees previously worked at the now-retired coal plant.
More information about the station can be found at duke-energy.com/AshevilleCC.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Heather Danenhower
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/22/2020Duke Energy Indiana plans gradual return to standard business operations while extending assistance for customers in need
Source: PR Newswire
PLAINFIELD, Ind., July 15, 2020 /PRNewswire/ -- Duke Energy Indiana will continue to suspend service disconnections for nonpayment for an additional month beyond the state's current moratorium on disconnection for nonpayment. Customers who are experiencing financial hardship due to the COVID-19 pandemic now have until September 15 to settle their accounts or make payment arrangements.
Leading up to the deadline, Duke Energy is offering customers in need the opportunity to establish payment plans for up to six months in length. The company is also urging eligible customers to take advantage of additional Low-Income Home Energy Assistance Program funds available through statewide community action agencies due to the pandemic.
In response to the COVID-19 pandemic in March, the company immediately launched a sweeping series of steps to help customers, including suspending disconnections for non-payment, as well as late-payment fees and residential fees for credit card payments and other payment types.
During the pandemic, the Duke Energy Foundation has contributed over $950,000 in foundation and corporate funds to Indiana not-for-profit organizations, focusing on food, small business recovery, education and workforce needs of its customers and communities.
"So many of our customers are facing unprecedented adversity during this pandemic. We want to be thoughtful and provide extended payment options to avoid power interruptions," said Stan Pinegar, Duke Energy Indiana state president. "As financial assistance has become available for qualified customers, we believe now is the right time to begin resuming more standard operations. We will, however, continue to help our customers access resources to assist and provide additional information that can help reduce their bills."
Enhanced customer care
Duke Energy Indiana has contacted residential and non-residential customers with significant past-due balances on their utility bills, offering payment plans to mitigate potentially more significant financial challenges in the future.
"If you are facing a financial hardship, we are here to help," said Marion Byndon, Duke Energy general manager for customer service. "Our customer contact specialists are prepared to support our customers through these challenging times and provide manageable solutions so customers can keep their lights on."
Expanded assistance options
Duke Energy Indiana will continue to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts include:
What customers can expect
Duke Energy Indiana will return to standard billing and payment practices in mid-August, which means customers in arrears will receive notices about their past-due balances and the earliest possible date their service could be interrupted. That change will result in disconnections for non-payment under regular credit and notice timelines after September 15 for residential and non-residential customers.
The company anticipates higher-than-normal call volume and encourages customers to consider using the online self-service options now to avoid longer wait times.
Customers should download the company's mobile app or visit duke-energy.com for information and most service transactions. Customers who are unable to self-serve can contact the customer contact center at 800.521.2232.
Duke Energy's customer service specialists are available Monday through Friday, 7 a.m. to 7 p.m. to assist customers with customized payment plans that meet their specific situations.
Customers who need financial assistance are encouraged to visit 211.org to locate available resources. The free service can help customers find local community agencies that provide assistance to meet a wide range of needs, including:
To get started, simply visit 211.org or dial 211 from your phone.
Service orders, field operations
The company also suspended some of its field operations and non-emergency work inside customers' premises. However, as a provider of an essential service, the company continues working hard to deliver the reliable power customers need while following CDC guidelines to protect the health and well-being of its communities.
The company has been methodically resuming some activities, consistent with its commitment to safely and reliably serve customers.
As the company continues to resume service orders previously suspended, personnel will follow CDC guidelines to complete work.
Duke Energy Indiana employees and contractors who may interact with customers or engage in field work have access to necessary personal protective equipment and will maintain social distancing to the extent practical.
For work that must be scheduled, the company will contact customers in advance to inform them of the nature of the work and the safety protocols that will be used. Customers will have the right to refuse and reschedule the work for a later date, unless an immediate safety issue exists. If you have questions regarding work that needs to be scheduled, please call us.
The company anticipates that all previously delayed, deferred, and suspended non-essential operations will have resumed by September 1, 2020.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Lew Middleton
Office: 317.838.1505 | Cell: 317.474.7448
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/15/2020Duke Energy announces $750,000 in grants for North Carolina nonprofits dedicated to social justice, racial equity
Source: PR Newswire
CHARLOTTE, N.C., July 15, 2020 /PRNewswire/ -- Duke Energy today announced a new $750,000 grant opportunity through the Duke Energy Foundation for North Carolina nonprofit organizations working for social justice and racial equity.
Applications will be reviewed through a competitive grant cycle, and $25,000 grants will be awarded for general operating funds at eligible nonprofits.
The company has committed to an annual social justice and racial equity grant cycle for at least three years in North Carolina.
"Duke Energy is committed to addressing racism in our state," said Stephen De May, Duke Energy's North Carolina president. "This grant opportunity provides nonprofits with the most flexible funding available to empower the critical work that Black Americans are already leading across North Carolina."
The NC Social Justice and Racial Equity grant cycle will operate with the following strategic principles:
"Providing much needed support for nonprofits in the racial equity and social justice space is strategically important at this propitious moment in our nation's history," said James H. Johnson Jr., Kenan Distinguished Professor at the University of North Carolina's Kenan-Flagler Business School. "Entities funded through this initiative will be afforded the opportunity to continue longstanding work and perhaps experiment with new approaches to racial equity and social justice in North Carolina and beyond."
Grant applications should come from organizations with primary missions of addressing social justice and racial equity. Initiatives of focus for interested organizations may include but are not limited to:
"Duke Energy recently announced a $1 million commitment across all its jurisdictions to support the fight for racial justice, and we mentioned then that it was just a start and more work needed to be done," said Danielle Virgil, chair of Duke Energy's Triangle chapter of Advocates for African-Americans, an employee resource group. "I'm proud that we're taking another positive step today and helping local organizations develop long-term solutions to the social justice and racial equity issues our communities face in North Carolina."
The grant application is open now through Aug. 31, 2020. Eligible nonprofits should visit www.duke-energy.com/RacialEquity to access the application and materials. Applicants will be notified about the outcome of their applications before Oct. 31.
This new grant opportunity is in addition to the $1 million commitment Duke Energy made to racial equity across our jurisdictions.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
7/15/2020Stay cool, save money as heat wave lingers in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., July 15, 2020 /PRNewswire/ -- As the streak of mid-90s temperatures continues in North Carolina and South Carolina, Duke Energy is providing free tools and tips to help customers save energy – and money – as the region's heat wave lingers during the COVID-19 pandemic.
Duke Energy's system is performing well and, as always, the company is monitoring its power plants, power lines and other equipment to help ensure customers receive reliable service during the extended hot-weather period.
Low- to no-cost summer energy efficiency tips
High temperatures can lead to higher energy bills as Duke Energy customers try to stay cool. Below are some tips to help manage your energy use.
Track your energy usage
Customers with smart meters can check online to view their daily usage. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing their bills.
Videos are available for customers with smart meters to learn how to track energy usage here.
Duke Energy customers with smart meters also receive usage alerts through email and/or text halfway through their billing cycle, well before their bill arrives, with their current usage amount and a projection of what their final monthly bill could be.
Customers can also set budget alerts so they know when their bill reaches a specific dollar amount of their choosing, allowing them to adjust their usage and help save money on their bill.
Customers without smart meters can sign up to receive high bill alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
Additionally, here are tips on how to understand your energy bill and avoid surprises during hot weather: https://illumination.duke-energy.com/articles/how-to-avoid-a-high-energy-bill-during-hot-weather.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact:
800.559.3853
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SOURCE Duke Energy
Article Date
7/15/2020Duke Energy Florida plans gradual return to standard business operations while extending assistance for customers in need
Source: PR Newswire
ST. PETERSBURG, Fla., July 14, 2020 /PRNewswire/ -- Duke Energy Florida will continue assisting customers experiencing economic hardship from the COVID-19 pandemic as the company begins returning to standard billing and payment practices in mid-August.
However, the earliest disconnections for non-payment under regular credit and notice timelines will not begin until Sept. 1 for customers.
In March, in response to the COVID-19 pandemic, the company immediately launched a sweeping series of steps to help customers, including suspending disconnections for non-payment, as well as late-payment fees and fees for credit card payments and other payment types.
The company also has donated $1 million to assist COVID-19 relief efforts in Florida. For more information on how Duke Energy Florida has helped local communities through rapid-relief funding during the pandemic, click here.
Now, as the company prepares to resume standard billing practices, Duke Energy encourages customers to take advantage of the company's payment programs to help manage electric bills and avoid service disconnection.
"Our customers remain our top priority. Many of them are facing unprecedented adversity during this pandemic. We want to be thoughtful and provide extended payment options to avoid power interruptions during the pandemic," said Catherine Stempien, Duke Energy Florida president. "As financial assistance has become available for qualified customers, we believe now is the right time to begin resuming more traditional operations. We will, however, continue to help our customers access resources to assist them and provide additional information that can help reduce their bills."
Enhanced customer care
Duke Energy Florida has been proactively working with customers who are accumulating past-due balances on their utility bills, offering payment plans to mitigate potentially more significant financial challenges in the future.
"If you are facing a financial hardship, we are here to help," said Malcolm Barnes, Duke Energy's general manager for regional customer care operations. "Our customer contact specialists are prepared to support our customers through these challenging times and provide manageable solutions so customers can keep their lights on."
Expanded assistance options
Duke Energy Florida will continue to provide assistance to residential and business customers whose accounts have fallen behind due to illness or lost wages.
Support for these efforts include:
What customers can expect
Duke Energy Florida customers will return to standard billing and payment practices in mid-August, which means customers in arrears will receive notices about their past-due balances and the earliest possible date their service could be interrupted. That change could result in disconnections for non-payment under regular credit and notice timelines during the month of September for customers.
The company anticipates higher than normal call volume as standard operations resume and encourages customers to consider using the online self-service options now to avoid long wait times.
Customers should download the company's mobile app or visit duke-energy.com for information and most service transactions. Customers who are unable to self-serve can contact the customer contact center at 800.700.8744.
Duke Energy's customer service specialists are available Monday through Friday, 7 a.m. to 7 p.m. to assist customers with customized payment plans that meet their specific situations.
Customers who need financial assistance are encouraged to visit 211.org to locate available resources. The free service can help customers find local community agencies that provide assistance to meet a wide range of needs, including:
To get started, simply visit 211.org or dial 211 from your phone.
Service orders, field operations
The company also suspended some of its field operations and non-emergency work inside customers' premises. However, as a provider of an essential service, the company continues working hard to deliver the reliable power customers need while following CDC guidelines to protect the health and well-being of our communities.
The company has been methodically resuming some activities, consistent with its commitment to safely and reliably serve customers.
As the company continues to resume service orders previously suspended, personnel will continue following CDC guidelines to complete work.
Duke Energy Florida employees and contractors who may interact with customers or engage in field work have access to necessary personal protective equipment and will maintain social distancing to the extent practical.
For work that must be scheduled, the company will contact customers in advance to inform them of the nature of the work and the safety protocols that will be used. Customers will have the right to refuse and reschedule the work for a later date, unless an immediate safety issue exists. If you have questions regarding work that needs to be scheduled, please call us.
The company anticipates that all previously delayed, deferred, and suspended non-essential operations will have resumed by Sept. 1, 2020.
Home Energy Checks can still be completed online. To learn more about Duke Energy's response to the COVID-19 virus, please visit the company webpage.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Ana Gibbs
Office: 813.928.7263 l 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/14/2020Scams targeting utility customers on the rise during COVID-19 pandemic; Duke Energy and Piedmont Natural Gas warn of scammers' latest tactics
Source: PR Newswire
CHARLOTTE, N.C., July 8, 2020 /PRNewswire/ -- Scams targeting electric and natural gas customers are on the rise, with imposters implementing new tactics during the COVID-19 pandemic to trick utility customers out of money and personal information.
June 2020 was the highest single month on record for reported scam attempts targeting Duke Energy customers, hitting more than 4,000.
The total number of scam attempts reported by Duke Energy customers so far in 2020 – more than 15,000 – already is approaching 2019's full-year total of 18,000.
"Unfortunately, the scammers appear to be preying on the uncertainty and financial hardship caused by the pandemic, and they are tracking trends and adjusting their tactics," said Jared Lawrence, Duke Energy's vice president of revenue services and metering. "As new scam techniques are employed, it is imperative that customers stay alert, informed and make a concerted effort to guard their personal information and wallets."
New tactic
Scammers have added a new tactic, which promises to mail customers refund checks for overpayments on their accounts if they can confirm their personal data, including birthdays and, in some cases, social security numbers.
Generally, Duke Energy and subsidiary Piedmont Natural Gas will apply refunds as a credit to customers' accounts and will not contact customers to verify personal information by phone, email or in person in order to mail a check.
Phone scam
Scam reports also indicate that phone scammers posing as utility providers continue to call and insist customers are delinquent on their bills. The scammer typically claims a service disconnection is pending, rigs caller ID to mimic your utility provider, and demands an immediate payment in the form of a prepaid debit card.
Note: Duke Energy and Piedmont Natural Gas have currently suspended disconnections for nonpayment.
Common scam tactics include:
Customers who suspect they have been victims of fraud or who feel threatened during an interaction with one of these scammers should:
Customers can learn about recent scams and how to recognize the warning signs on the Federal Trade Commission website www.consumer.ftc.gov/features/scam-alerts.
Duke Energy is also a founding member of Utilities United Against Scams (UUAS), a consortium of more than 140 U.S. and Canadian electric, water, and natural gas companies (and their respective trade associations) that raises awareness of utility scams targeting customers. Duke Energy's Lawrence is also the UUAS founder and executive committee chair.
Visit duke-energy.com/stopscams or utilitiesunited.org for more information and tips about how customers can protect themselves from impostor utility scams, or follow along on social media: Twitter @DukeEnergy or @U_U_A_S and Facebook @Duke Energy or @UtilitiesUnited.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy media line:
800.559.3853
Piedmont Natural Gas media line:
877.348.3612
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SOURCE Duke Energy
Article Date
7/8/2020Duke Energy to announce second-quarter 2020 financial results on Aug. 10
Source: PR Newswire
CHARLOTTE, N.C., July 7, 2020 /PRNewswire/ -- Duke Energy will announce its second-quarter financial results at 7 a.m. ET on Monday, Aug. 10, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss second-quarter 2020 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chair, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 800-458-4121 in the U.S. or 323-794-2093 outside the U.S. The confirmation code is 1877808. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 20, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 1877808. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
7/7/2020Duke Energy Renewables' largest solar project now online in Texas
Source: PR Newswire
CHARLOTTE, N.C., July 7, 2020 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), announced that its 200-megawatt alternating current (MWac) Holstein Solar project in Nolan County, Texas, has begun commercial operation. It is the largest solar project in Duke Energy Renewables' fleet.
"Texas is one of the fastest growing solar energy markets in the country. Holstein Solar supports the state's growth and is a great addition to our growing Texas solar energy portfolio," said Chris Fallon, vice president of Duke Energy Renewables. "We're pleased to support the state's expanding renewable energy industry by providing low-cost, clean energy resources to meet the growing needs of Texans."
Duke Energy Renewables acquired the project from 8minute Solar Energy, a leading developer of utility-scale solar projects. 8minute Solar Energy led the development of the project and brought the EPC, operation and maintenance (O&M), hedge, tax equity and debt counterparties to the project.
"We are changing the energy game in Texas. Holstein proves that in Texas, where cost is the top consideration, solar is a smart and reliable choice," said Dr. Tom Buttgenbach, president and CEO of 8minute Solar Energy. "We are proud to partner with Duke Energy Renewables on large-scale solar projects that now fulfill the promise of a future where energy is clean, abundant and affordable for all."
The Holstein Solar project is among four Duke Energy Renewables solar generation facilities in Texas. The 100-MWac Lapetus Solar project in Andrews County went into commercial operation in January 2020. Duke Energy Renewables is also working to complete construction of its 200-MWac Rambler Solar project in Tom Green County, which is slated to be in commercial operation by mid-2020. The addition of these projects will bring Duke Energy Renewables' total Texas solar energy portfolio to 514 MWac.
The 200-MWac Holstein Solar project contains over 709,000 solar panels across approximately 1,300 acres in Wingate, Texas. The facility will power the equivalent of 40,000 homes.
The project employed up to 400 workers during peak construction.
Much of the energy generated from the Holstein Solar project will be sold through a 12-year term hedge agreement to J. Aron & Company LLC, a subsidiary of Goldman Sachs. This is the first Duke Energy Renewables solar project to utilize a hedge agreement.
The facility's design, procurement of inverters, balance of plant systems and construction of the project were performed by Blattner Energy. First Solar Energy Services will provide O&M services for the project under a five-year agreement.
As one of the nation's top renewable energy providers, Duke Energy currently owns, operates and contracts more than 8,000 MW of capacity and plans to double that by 2025.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
7/7/2020Duke Energy announces dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., July 6, 2020 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.965, an increase of $0.02 per share. This dividend is payable on Sept. 16, 2020, to shareholders of record at the close of business Aug. 14, 2020.
The company also declared a quarterly cash dividend on its Series A preferred stock of $359.375 per share payable on Sept. 16, 2020, to shareholders of record at the close of business Aug. 14, 2020. This is equivalent to $0.359375 per depositary share.
In addition, the company declared a semi-annual cash dividend on its Series B preferred stock of $24.375 per share payable on Sept. 16, 2020, to shareholders of record at the close of business Aug. 14, 2020.
Duke Energy has paid a cash dividend on its common stock for 94 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Bryan Buckler
704.382.2640
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SOURCE Duke Energy
Article Date
7/6/2020Duke Energy reaffirms capital investments in renewables and grid projects to deliver cleaner energy, economic growth
Source: PR Newswire
CHARLOTTE, N.C., July 5, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) today said that the company will continue advancing its ambitious clean energy goals without the Atlantic Coast Pipeline (ACP) by investing in renewables, battery storage, energy efficiency programs and grid projects.
Duke Energy's $56 billion capital investment plan will deliver significant customer benefits and create jobs at a time when policymakers at all levels are looking for ways to rebuild the economy in 2020 and beyond. These investments will deliver cleaner energy for customers and communities while enhancing the energy grid to provide greater reliability and resiliency.
"Sustainability and the reduction of carbon emissions are closely tied to our region's success," said Lynn Good, Duke Energy Chair, President and CEO. "In our recent Climate Report, we shared a vision of a cleaner energy future with an increasing focus on renewables and battery storage in addition to a diverse mix of zero-carbon nuclear, natural gas, hydro and energy efficiency programs.
"Achieving this clean energy vision will require all of us working together to develop a plan that is smart, equitable and ensures the reliability and affordability that will spur economic growth in the region. While we're disappointed that we're not able to move forward with ACP, we will continue exploring ways to help our customers and communities, particularly in eastern North Carolina where the need is great," said Good.
Already a clean-energy leader, Duke Energy has reduced its carbon emissions by 39% from 2005 and remains on track to cut its carbon emissions by at least 50% by 2030. The company also has an ambitious clean energy goal of reaching net-zero emissions from electricity generation by 2050.
In September 2020, Duke Energy plans to file its Integrated Resource Plans (IRP) for the Carolinas after an extensive process of working with the state's leaders, policymakers, customers and other stakeholders. The IRPs will include multiple scenarios to support a path to a cleaner energy future in the Carolinas.
Since 2010, Duke Energy has retired 51 coal units totaling more than 6,500 megawatts (MW) and plans to retire at least an additional 900 MW by the end of 2024. In 2019, the company proposed to shorten the book lives of another approximately 7,700 MW of coal capacity in North Carolina and Indiana.
Duke Energy will host an analyst call in early August 2020 to discuss second quarter 2020 financial results and other business and financial updates. The company will also host its inaugural Environmental, Social and Governance (ESG) investor day in October 2020.
*****(Editor's note: To download video soundbites from Duke Energy Chair, President and CEO Lynn Good, click here)*****
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to:
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media contact: Neil Nissan
800.559.3853
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SOURCE Duke Energy
Article Date
7/5/2020Piedmont Natural Gas seeks first base rate adjustment in Tennessee since 2012
Source: PR Newswire
NASHVILLE, Tenn., July 2, 2020 /PRNewswire/ -- Following significant investments to support population growth and the reliability of its system, Piedmont Natural Gas today filed a request with the Tennessee Public Utility Commission (TPUC) to raise its base rates by 15%.
Piedmont's last base rate adjustment was nearly nine years ago. Since 2012, Piedmont has invested approximately $600 million in the Nashville metropolitan area to build the infrastructure needed to support the community's substantial growth, which includes an increase in population of 11.2% since 2010, and comply with federal safety regulations.
"Piedmont has made vital upgrades to our natural gas system in this growing community without a rate increase for nearly a decade – a result of our strong effort to control costs and minimize impacts to customers," said Sasha Weintraub, Piedmont Natural Gas senior vice president.
If approved, the new rates could go into effect Jan. 1, 2021, with the utility's average residential customer experiencing a bill increase of about $11 each month, or $132 annually.
"With the cost of natural gas continuing to decrease, customer bills after the proposed rate adjustment would still be lower than they were in July 2018, and Piedmont will be able to continue supporting growth and prosperity in our Tennessee communities," said Weintraub.
The new proposed residential rate will be 10% less than the rate was in July 2018, as Piedmont made a series of rate adjustments that resulted in a net bill decrease of $14 per month for the average residential customer between March 2019 and March 2020.
To learn more about Piedmont's rates, visit piedmontng.com/rates.
Bill Relief Programs
Piedmont will continue aiding residential and business customers whose accounts have fallen behind due to the COVID-19 pandemic. The company has suspended key credit actions, including disconnections for nonpayment, late payment fees and fees for credit card and other payments.
Support for these efforts includes:
Ongoing Community Assistance
In March of this year, when a devastating tornado hit downtown Nashville, Piedmont Natural Gas donated $200,000 to organizations in the metro area to support recovery. With the economic downturn brought on by the pandemic, Piedmont Natural Gas and its parent company together have donated a total of $6 million for COVID-19 relief efforts in seven states, including Tennessee.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108
Media Line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
7/2/2020Duke Energy Florida proposes new program providing solar access to customers while lowering bills over time
Source: PR Newswire
ST. PETERSBURG, Fla., July 1, 2020 /PRNewswire/ -- Duke Energy Florida (DEF) today filed a proposed new Clean Energy Connection (CEC) Program with the Florida Public Service Commission.
The announcement is the latest advancement in Duke Energy's commitment to solar energy.
If approved by the commission, the program will provide Duke Energy Florida customers with about 750 megawatts (MW) of new, cost-effective solar power – offering more options for qualified residential, business and local government customers to share in a slice of the company's solar energy production on a voluntary basis.
Duke Energy plans to invest an estimated $1 billion in its new solar power plants across Florida in the next three years. The first plants will go online in 2022 and more will follow through 2024.
"The Clean Energy Connection Program is delivering on what our customers want – affordable clean energy options. It will be a measurable way for customers to share in reducing carbon emissions," said Catherine Stempien, Duke Energy Florida state president. "We know that larger-scale solar is the most cost-effective way to get the benefits of solar on our entire system and this program gives customers, especially those who may not have the ability to install solar at home, a compelling alternative to rooftop panels."
The program directly supports the development and construction of new cost-effective, utility-owned, solar power plants interconnected to the Florida power grid.
"We appreciate Duke Energy's development of the CEC program, which is another step in the right direction. Our initial subscription represents our commitment to work with DEF and others in the state for more ambitious renewable energy goals and a just transition to clean energy," said St. Petersburg Mayor Rick Kriseman.
How the program works
Customers can subscribe to kilowatt blocks of solar power from the company's Clean Energy Connection solar portfolio. The monthly subscription fee will help pay for the cost of construction and operation of the solar power plants and is conveniently added to a customer's regular electric bill.
Participating customers can subscribe to blocks of solar generation equivalent to 1 kilowatt (kW) of solar power per block and receive bill credits based on their subscription size and the solar energy that is produced by the Clean Energy Connection solar facilities each month.
The monthly subscription fee is fixed at $8.35 per kW. A customer with average usage of 1,000 kWh/month would need to subscribe to approximately 5 kW to cover their full usage. Subscribers receive bill credits based on their subscription size and the solar energy that is produced by the Clean Energy Connection solar facilities each month.
The bill credit rate for the first 36 months of the program participation will be 4 cents per kWh (kilowatt-hour), then the bill credit rate increases by 1.5% every year. The bill credit amount varies each month with the actual solar energy produced, where it may be greater during the months with more direct sunlight.
For a residential customer subscribing to a 5-kW block, the month-to-month impact will vary, but the net annual impact in year one is estimated to be a charge of about $6. Starting in year five, the annual bill credit is estimated to exceed the subscription fee. By year seven, customer credits are expected to exceed the charges paid to date for the program.
The program sets aside 26 MW for low-income customers who participate in government subsidy programs or Duke Energy Florida's low-income energy efficiency program.
With program enrollment, low-income customers will see guaranteed savings on their bill every month. These customers will pay an $8.35 monthly per kW subscription fee and receive a $9.03 monthly per kW bill credit, producing a savings of 68 cents for every kW subscribed. In this case, a low-income customer subscribing to a 3-kW block will save $2.04 every month, or $24.48 annually.
The Clean Energy Connection Program is designed to utilize low-cost universal DEF solar facilities while delivering solar energy efficiently to and for the benefit of all of our customers. It is also designed to provide participating customers with a seven-year full payback, with bill credits first exceeding subscription fees around three to five years. As long as the customer remains in the program for seven years, the annual bill credits are projected to be more than the subscription costs, creating real customer bill savings.
"Duke Energy's Clean Energy Connection Program aligns well with Mosaic's commitments to environmental sustainability. We applaud Duke Energy for this innovative approach to expanding the use of renewable energy sources," said Mosaic Senior Vice President, Government and Public Affairs Ben Pratt.
Customers can request to offset 100% of their power usage with solar by subscribing to enough blocks of solar power to match the customer's annual energy usage.
If approved by the Florida Public Service Commission, the program will open to residential and small businesses for enrollment in 2021 with the program beginning to generate power at the beginning of 2022.
Customers who are interested in participating in the program can learn more through the Clean Energy Connection website.
Duke Energy Florida remains a leader in advancing clean energy in the state. It has installed more than 1 million solar panels in Florida and the Clean Energy Connection Program will support this continued success.
DEF currently has more than 500 MW of solar generation under construction or in operation as the company continues to construct or acquire a total of 700 MW of solar power facilities in Florida from 2018 through 2022.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Ana Gibbs
Cell: 813.928.7263 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/1/2020Duke Energy Progress customers in South Carolina will see bills go down beginning July 1
Source: PR Newswire
GREENVILLE, S.C., July 1, 2020 /PRNewswire/ -- Duke Energy Progress customers in South Carolina will see a decrease in monthly bills beginning in July as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants.
Duke Energy Progress serves about 170,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
Beginning July 1, a typical residential customer using 1,000 kilowatt-hours (kWh) per month will see bills decrease from the current $124.98 to $120.87, a decrease of $4.11, or 3.3 percent.
Commercial customers will see an average decrease in their bills of about 1.6 percent, and industrial customers will receive an average decrease of about 2.9 percent.
The primary reason for the overall decrease in rates is the decreasing price of natural gas.
Duke Energy Progress makes a fuel cost recovery filing annually with the Public Service Commission of South Carolina (PSCSC). The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates.
The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. The company made its annual fuel filing April 27. The PSCSC held a hearing and approved the new rates in June.
Duke Energy Progress works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs.
The decrease affects the bills of all Duke Energy Progress customers in South Carolina. The company's other South Carolina utility -- Duke Energy Carolinas -- will make its annual fuel filing July 30.
More help for customers
In March, Duke Energy announced it will not disconnect any customer's service for nonpayment, in order to give customers experiencing financial hardship extra time to make payments. The company has continued to read meters and send bills.
The company is also waiving late payment fees and fees for returned payments for its millions of electric and natural gas customers across its service territories until the national state of emergency is lifted.
Customers are encouraged to pay what they can to avoid building up a large balance that will be harder to pay off later. Customers can call Duke Energy to discuss their account or available options.
Customers can also seek assistance through the Energy Neighbor Fund.
For information on what Duke Energy is doing to assist customers and respond to the COVID-19 pandemic, visit dukeenergyupdates.com.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/1/2020Bank of America Taps Duke Energy To Expand Renewable Energy Commitment
Source: PR Newswire
CHARLOTTE, N.C., June 29, 2020 /PRNewswire/ -- Bank of America announced today it is partnering with Duke Energy to further expand its renewable energy commitment by powering its headquarters and other Charlotte operations with solar energy.
Through a renewable energy sleeved-power purchase agreement (PPA), the company is participating in Duke Energy's Green Source Advantage (GSA) program. The bank is the first company and financial institution to sign a 10-year agreement for electricity and Green-e® certified renewable energy certificates (RECs) through this program.
The purchase of a 25-megawatt (MWAC) solar project's electricity output and RECs will cover 45% of Bank of America's electricity load in the state. By participating in Duke Energy's GSA program, Bank of America further demonstrates its commitment to reduce its operational impacts on the environment, including being carbon neutral and utilizing 100% renewable electricity across its global operations.
"These unique projects and partnerships build on our achievement of carbon neutrality and expand our renewable energy commitment. By driving more clean energy solutions in our facilities, we are developing a broader sustainable energy ecosystem to help transform our operations and the communities where our employees work and live," said Andrew Plepler, global head of Environmental, Social and Governance at Bank of America. "These partnerships bring to the forefront creative thinking and innovative solutions to address a changing climate and clean energy access."
This innovative project will be constructed in the Piedmont region of North Carolina. It also adds additional clean energy to the grid, supports jobs and the local economy. The project will include the installation of a pollinator habitat surrounding 70,000 solar panels, covering approximately 180 acres, and is expected to be online in 2022.
"We continue to look for new and innovative ways to deliver more renewable energy to customers in North Carolina," said Stephen De May, Duke Energy's North Carolina president. "Customers want more flexibility and options for renewable energy and the Green Source Advantage makes that happen."
Silver Pine Energy, a joint venture between Silver Creek Energy and North Carolina developer Pine Gate Renewables, will oversee the development of the project and will support the engineering, procurement and construction services.
"Silver Pine Energy is very pleased to be a part of the Green Source Advantage program," said Silver Pine President Ben Catt. "We are grateful to partner with Duke Energy and Bank of America for this project, and excited to continue to do our part to bring more renewable energy online in North Carolina through innovative and exciting programs such as GSA."
Duke Energy's GSA program has 600 MW of capacity for large Duke Energy customers in North Carolina. Cities – like the city of Charlotte – are also eligible to participate.
Duke Energy maintains more than 3,300 MW of solar power on its energy grid in North Carolina, which could power about 700,000 home and businesses at peak output. The company also operates 40 solar facilities in the state. North Carolina currently ranks No. 2 in the nation for overall solar power.
The Green Source Advantage program is an outgrowth of 2017's landmark solar legislation in North Carolina. Other programs such as solar rebates for customers and solar leasing were also part of that legislation. Duke Energy piloted the program, called the Green Source Tariff, in 2015.
Learn more
Learn more about Bank of America's commitment to the environment and its environmental operations focus.
Learn more about Duke Energy's GSA program and its renewable energy commitment.
Learn more about Silver Pine Energy.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Silver Pine Energy
Silver Pine is a joint venture partnership between Silver Creek Energy and Pine Gate Renewables. Silver Pine is actively developing dozens of projects across the southeast and beyond. The collective partnership combines to offer industry leading capabilities as a developer, financier, EPC, and operator of solar projects in the United States. Silver Pine currently oversees the construction and operation of 200 MWs of solar projects in the southeast and is actively developing over 1GW of solar across the country.
Bank of America
At Bank of America, we're guided by a common purpose to help make financial lives better, through the power of every connection. We're delivering on this through responsible growth with a focus on our environmental, social and governance (ESG) leadership. ESG is embedded across our eight lines of business and reflects how we help fuel the global economy, build trust and credibility, and represent a company that people want to work for, invest in and do business with. It's demonstrated in the inclusive and supportive workplace we create for our employees, the responsible products and services we offer our clients, and the impact we make around the world in helping local economies thrive. An important part of this work is forming strong partnerships with nonprofits and advocacy groups, such as community, consumer and environmental organizations, to bring together our collective networks and expertise to achieve greater impact. Learn more at about.bankofamerica.com, and connect with us on Twitter (@BofA_News).
For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom. Click here to register for news email alerts.
Reporters May Contact:
Kelly Sapp, Bank of America, 1.980.214.3070
Kelly.E.Sapp@bofa.com
Randy Wheeless, Duke Energy, 1.800.559.3853
Randy.Wheeless@duke-energy.com
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SOURCE Duke Energy; Bank of America
Article Date
6/29/2020Duke Energy creates job training opportunities through $900,000 in grants to North Carolina community colleges
Source: PR Newswire
CHARLOTTE, N.C., June 25, 2020 /PRNewswire/ -- Duke Energy today announced it has awarded $903,828 in grants to support apprenticeship job training programs at eight community colleges in North Carolina.
The grants fulfill the company's 2017 commitment to fund $5 million in apprenticeship programs at community colleges across the state.
Since 2004, Duke Energy has provided a total of $45 million in funding to North Carolina community colleges.
"We are so grateful for Duke Energy's support of our apprenticeship programs," said Peter Hans, president of the NC Community College System. "Students in the programs receive hands-on learning while earning a paycheck and gaining specialized skills. Apprenticeships have increased rapidly at community colleges because employers recognize their value in building the workforce of the future."
"North Carolina's community colleges are essential to train the workforce that businesses rely on," said Stephen De May, Duke Energy's North Carolina president. "As we partner to bring more companies to North Carolina and build a smarter energy future, community colleges are critical to upgrade workforce skills to meet new job demands."
The eight colleges below have received grant awards in this round of funding:
Community College | Program Name | Grant Award |
Alamance Community College | Adults for Industrial Development | $179,000 |
Davidson County Community College | Davidson and Davie Apprenticeship Consortium | $125,000 |
Durham Technical Community College | Electrical Line Technician | $129,857 |
Forsyth Technical Community College | LEAP Forsyth Tech: Learn and Earn Apprenticeship | $50,000 |
Gaston College | Apprenticeship 321 | $50,000 |
Surry Community College | Surry/Yadkin Apprenticeship | $45,500 |
Western Piedmont Community College | Apprenticeship Burke | $130,442 |
Wilkes Community College | Apprenticeship Wilkes | $194,029 |
These grants represent the sixth and final round of funding in the $5 million Duke Energy/Piedmont Natural Gas Community College Apprenticeship Grant program announced in April 2017. Through this program, 23 community colleges have received funding, connecting more than 2,800 student participants across 36 North Carolina counties with high-value job opportunities.
The apprenticeship grant program was administered by North Carolina Community Foundation and Foundation For The Carolinas. Award decisions were made by a committee of representatives from Duke Energy, North Carolina Community College System and North Carolina Department of Commerce.
Previous awards from the apprenticeship grant program include the community colleges listed below:
Blue Ridge Community College | Caldwell Community College & Technical Institute | Cape Fear Community College |
Carteret Community College | Central Carolinas Community College | Cleveland Community College |
Craven Community College | Davidson County Community College | Durham Technical Community College |
Forsyth Technical Community College | Gaston College | Johnson Community College |
Montgomery Community College | Pitt Community College | Randolph Community College |
Rowan-Cabarrus Community College | South Piedmont Community College | Vance-Granville Community College |
Wayne Community College | Western Piedmont Community College |
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Meredith Archie
800.559.3853
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SOURCE Duke Energy
Article Date
6/25/2020Duke Energy program helping N.C. customers and schools expand renewable energy
Source: PR Newswire
CHARLOTTE, N.C., June 25, 2020 /PRNewswire/ -- Duke Energy's Renewable Advantage program is the perfect way for customers to supplement their energy use with renewable energy and help local schools go solar at the same time.
For as little as $3 extra a month, residential and small business customers in North Carolina can increase the amount of renewable energy on the Duke Energy power grid. The monthly fee supports the generation of 250 kilowatt-hour (kWh) blocks of electricity from renewable energy resources. Customers may buy as many blocks as they wish. A typical residential customer uses roughly 1,000 kWh a month.
"More than half of Duke Energy's generation in the Carolinas is carbon-free. But we know many customers want more," said Stephen De May, Duke Energy's North Carolina president. "Renewable Advantage gives them an easy option to customize their own energy mix."
The $3 fee is used to buy renewable energy and is added to customers' bills. The company projects Renewable Advantage will consist of 95% solar and 5% biomass. It's estimated that 25% of the generation will come from North Carolina renewable energy facilities. Renewable Advantage will use the Green-e® certification program to track all purchases. Get more information about the program.
In addition, Duke Energy will donate 50 cents from every $3 block of energy purchased to NC GreenPower's Solar+ Schools program.
NC GreenPower's Solar+ Schools is open to all K-12 North Carolina schools and was introduced by the nonprofit in 2015 to support educational renewable energy projects in local communities. Each grant recipient receives a 5-kW array with a weather station, data monitoring equipment and a STEM curriculum package. As of the end of 2019, NC GreenPower has impacted nearly 26,000 students at 32 schools in 27 unique counties. In addition to the education benefits, Solar+ Schools provides approximately $700-$800 in annual electricity savings per school.
"We are now in the sixth year of our Solar+ Schools program, supporting 10 more schools in 2020. It's been a true honor to see firsthand the positive impact the educational projects are having on the students. Without donor support, our program wouldn't be able to provide this opportunity to schools in our state. We are so grateful for all of our contributors," said Vicky McCann, vice president of NC GreenPower.
Duke Energy has a history of supporting the Solar+ Schools effort. In 2015-2016, a $300,000 grant from Duke Energy allowed eight schools in the state to install solar panels on school property. Read more.
Also, a similar Duke Energy program in North Carolina helps large customers accomplish renewable energy goals. UPM Raflatac's manufacturing factory in Henderson County was the first manufacturing facility in North Carolina to match its entire energy usage with renewable energy. Read more.
About NC GreenPower
NC GreenPower's mission is to expand public knowledge and acceptance of cleaner energy technologies to all North Carolinians through local, community-based initiatives. The nonprofit helps to connect consumers with renewable energy and carbon offset providers to create positive environmental and economic impacts for our state. All projects supported by the program are in North Carolina.
In 2015, NC GreenPower launched Solar+ Schools to support solar PV installations at K-12 schools. Since the program's inception, NC GreenPower donors have supported more than 1,125 renewable energy and carbon offset projects, producing 1 billion kilowatt-hours of green energy and mitigating nearly 78,000 tons of greenhouse gases. Contributions to NC GreenPower are tax-deductible. For more information, visit www.ncgreenpower.org.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
6/25/2020Duke Energy awards over $220,000 in grants to support workforce development in Indiana
Source: PR Newswire
PLAINFIELD, Ind., June 16, 2020 /PRNewswire/ -- Duke Energy, through its shareholder-funded foundation, is awarding over $220,000 in grants to support 15 workforce development programs in nine Indiana counties.
The grants support workforce education and training programs that address the most pressing skill gaps in communities served by the company.
"We recognize that, for a variety of reasons, not all people have equal access to the same educational and training opportunities as others," said Stan Pinegar, Duke Energy state president for Indiana. "We can help improve that access by making investments in training and education where it is needed most."
Examples of programs supported by the grants include:
Below is the full list of the organizations, locations and the grants they received:
Program | Description | County | Grant Amount |
The ARC of Indiana Foundation Erskine Green Training Institute | Offers postsecondary vocational opportunities for Duke Energy customers with disabilities to empower them and lead to meaningful employment
| Delaware/Duke Energy-served counties | $30,000 |
Bona Vista Programs Workforce Development Programs: Pre-Employment Transition Services and Opportunity Knocks! | Support individuals with disabilities to successfully learn necessary skills for community employment | Howard | $25,000 |
Columbus Area Chamber Foundation Velocities | Support partnership efforts to grow innovation-driven business in the Bartholomew-Brown-Monroe region | Bartholomew | $9,750 |
Community Education Coalition EcO Network | Expand work-based learning programs, launch career awareness and outreach strategies to successfully grow the pipeline of skilled workers in the area | Bartholomew | $19,900 |
Hamilton County Workforce Innovation Network Workforce Recovery, Talent Pathway Initiative | Develop two talent pathways, one in health care and the other in construction, which will provide work-based learning opportunities and degree programs | Hamilton | $20,000 |
Heartland Career Center Heartland Career Center Adult Certification Training Center Expansion Project
| Expand the center's educational footprint to become the first adult training facility within a 30-mile radius in the region | Wabash | $15,000 |
Indiana 4-H Foundation 4-H Powers the Energy Industry | Provide youth the opportunity to explore the fundamentals of electricity, renewable energy technologies and conservation | Tippecanoe | $15,000 |
Indiana Talent Network IN Talent Networks | Connect state systems with resources and a forum to collaborate on talent pipeline for underserved populations
| Bartholomew | $10,000 |
Johnson County Community Foundation Employer Resource Network | Help community resources provide employees relief for issues such as reliable transportation, child care, housing challenges, etc. | Johnson | $5,000 |
Junior Achievement of Southwestern Indiana Advancing STEM through Career Awareness with JA
| Provide young people with the combination of technical skills, specifically in science, technology, engineering and math, and non-technical skills to succeed in the future job market | Statewide | $8,000 |
LTHC Homeless Services Employment Services | Provide a range of programs to help individuals experiencing homelessness and help them obtain employment | Tippecanoe | $15,000 |
Radius Indiana @RadiusIndiana | Target three sectors: advanced manufacturing, cybersecurity training and employment; supply more housing construction by training additional workers |
Martin |
$20,000 |
River Valley Resources JAG Industry Exposure Opportunities | Increase industry exposure for students by providing career and industry tour opportunities; host the first ever regional event featuring trade-only employers and educators | Bartholomew | $10,000 |
White's Residential and Family Service Growing Teens for Life | Gives teens hands-on work experience and vocational certifications in areas such as food service, hospitality, logistics and barista services | Wabash | $10,000 |
Workforce Network Western Indiana Survey and Work Experience Grant | Provide critical data that will support strategies aimed at engaging low-income and diverse populations succeed | Vigo | $9,500 |
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars.
In Indiana, the Foundation provides approximately $2 million in charitable gifts to a wide variety of nonprofit groups.
More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Media contact: Lew Middleton
800.559.3853
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SOURCE Duke Energy
Article Date
6/16/2020Duke Energy rolls out 'Hire North Carolina' program for major construction projects
Source: PR Newswire
CHARLOTTE, N.C., June 15, 2020 /PRNewswire/ -- In an effort to promote economic development and support North Carolina communities, Duke Energy is implementing the new program – "Hire North Carolina" – to maximize the use of locally owned and diverse contractors for utility projects in the state.
"We want to continue to support job creation and investment with suppliers, vendors and contractors who, like many of our team members, are proud to call North Carolina home," said Melody Birmingham, senior vice president of supply chain and chief procurement officer for Duke Energy. "Hire North Carolina will be a useful resource for Duke Energy to expand access to our local and diverse talent for construction projects."
"As a small business owner, I am passionate about supporting other local and women and minority-owned businesses," said Neeta Singh, owner of Tiger Controls, a Greensboro-based electrical and electronic distributor and engineering services provider. "At a time when many small businesses are facing financial challenges, I appreciate this new initiative to identify diverse suppliers. This program will not only drive in-state investments but open up additional opportunities for women and minority-owned businesses, and I look forward to adding our company name to the Hire North Carolina list."
Qualifying projects
Hire North Carolina, as directed and overseen by the North Carolinas Utilities Commission (NCUC), covers contracts for construction, extension and repair of facilities or other utility projects that are in North Carolina and exceed $700,000 in cost.
Duke Energy will continue to consider in-state and diversity when evaluating projects of this size and will provide the Hire North Carolina list to prime contractors to promote local suppliers for construction projects.
In 2019, Duke Energy spent more than $1.7 billion with suppliers operating in North Carolina and more than $316 million with diverse North Carolina businesses. Duke Energy utilities will provide the NCUC with annual reports detailing the progress of the program.
'Hire North Carolina' list
As part of this program, Duke Energy is developing a list of resident contractors, including women- and minority-owned businesses, in order to expand the local contracting source pool within the state. A resident contractor is a contractor or subcontractor who has their primary business in North Carolina. If a contractor meets these qualifications, they are encouraged to register for the list in order to be considered for Hire North Carolina projects and contracts. Registration instructions can be found on the Duke Energy Supplier webpage at duke-energy.com/partner-with-us/suppliers.
Higher education and technical schools outreach
As part of the program, Duke Energy will also be conducting outreach with North Carolina's institutions of higher education, community colleges, and other trade and technical schools to raise awareness of career opportunities in the energy, construction and other contractor fields that support our critical mission to reliably serve North Carolina's energy needs.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Meredith Archie
800.559.3853
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SOURCE Duke Energy
Article Date
6/15/20206/11/2020 - Duke Energy invests more than $240,000 in programs to build energy industry workforce in South Carolina
Duke Energy invests more than $240,000 in programs to build energy industry workforce in South Carolina
Source: PR Newswire
GREENVILLE, S.C., June 11, 2020 /PRNewswire/ -- The Duke Energy Foundation has awarded more than $240,000 in grants to five South Carolina organizations focused on building and enhancing strategic engineering initiatives that will help grow the energy industry's workforce of tomorrow.
"We have a long history of targeting investments to have the greatest impact for our communities," said Mike Callahan, South Carolina state president for Duke Energy. "This year has proven a challenge for many education organizations and programs across the state. That's why it is even more critical today to continue that tradition and help strengthen the workforce pipeline needed to fuel the Palmetto State's economic engine now and in the years to come."
The grants were awarded to the following organizations:
"Francis Marion University has thrived on partnerships in the community and few partners have made a greater impact on the university than Duke Energy," said Dr. Fred Carter, the university's president. "Duke Energy has helped with resources for everything from nuclear engineering labs to support for children's programming at the Performing Arts Center. This latest grant will help us construct a wonderful space on campus that will foster generations of innovative thinkers and future leaders who'll make our state and region a better place to live and work."
The Duke Energy Foundation funds more than $2 million annually to nonprofit organizations in South Carolina. In addition, the Foundation has focused on ways to assist customers and communities with more than $400,000 in direct COVID-19 relief in the Palmetto State. These funds support hunger relief, local health and human services, education initiatives and bill assistance for low-income customers.
More information about the foundation can be found at duke-energy.com/foundation.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
6/11/20206/10/2020 - New pollinator garden at Duke Energy Tippecanoe Solar Power Plant in Indiana helps pollinator species thrive
New pollinator garden at Duke Energy Tippecanoe Solar Power Plant in Indiana helps pollinator species thrive
Source: PR Newswire
PLAINFIELD, Ind., June 10, 2020 /PRNewswire/ -- A new Duke Energy solar power plant in West Lafayette, Ind., which provides clean, renewable electric energy, also now helps renew and increase populations of so-called "pollinator species" important to the growth and reproduction of flowers and food plants.
Approximately 1.5 acres of the plant site at the Discovery Park District have been planted in native pollinator wildflowers. This area will create a rich habitat supporting a diverse population of birds, bees, butterflies and other pollinators. The planting will decrease Duke Energy's operating and maintenance costs while continuing the company's legacy as a responsible environmental steward by providing habitat for endangered pollinator species.
The 1.6-megawatt Tippecanoe Solar Power Plant began producing clean, emissions-free energy for Duke Energy customers late 2019. It is located in the Discovery Park District near Purdue University.
The solar power plant generates enough electricity annually to power about 230 average homes with carbon-free energy. The plant has approximately 7,000 solar panels, and is expected to provide energy for more than 30 years.
The pollinator garden has been recognized by the Indiana Wildlife Federation and National Wildlife Federation's Certified Wildlife Habitat program.
According to the website pollinator.org, pollination occurs when pollen is moved within flowers or carried from flower to flower by pollinating animals such as birds, bees, bats, butterflies, moths, beetles, or other animals, or by the wind. The transfer of pollen in and between flowers of the same species leads to fertilization, and successful seed and fruit production for plants.
While somewhere between 75% and 95% of all pollinating plants need help with pollination, many pollinator populations are in decline, due in part to a loss of nesting and feeding habits.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Discovery Park District
The $1 billion Discovery Park District is a transformational center of innovation on the western edge of the Purdue University campus. The more than 400-acre district offers a thriving, walkable, urban setting that provides a unique opportunity to collaborate with thought leaders, visionaries, researchers and students at Purdue University. The district includes laboratories, advanced manufacturing facilities, offices, retail shops, restaurants, housing, green space and trails. Managed by the Purdue Research Foundation and its master planning partner Browning Investments LLC, the district already includes a public airport with a 7,000-foot runway, and international companies including Rolls-Royce, Schweitzer Engineering Laboratories and Saab. For more information, visit Discovery Park District.
Duke Energy media contact: Lew Middleton
800.559.3853
Purdue Discovery Park District media contact: Jeremy Slater
765.588.1221
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SOURCE Duke Energy
Article Date
6/10/2020Duke Energy Progress proposes lower monthly bills for North Carolina customers
Source: PR Newswire
CHARLOTTE, N.C., June 10, 2020 /PRNewswire/ -- Duke Energy Progress customers in North Carolina would see more than $3 in savings on their monthly energy bills this winter due to the combined impact of several proposed annual rate adjustments.
Under the proposals, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see their bills decrease from the current $118.20 to $114.64 – a decrease of $3.56, or 3%.
Commercial customers would see an average decrease in their bills of about 4%, and industrial customers would receive an average decrease of about 2.3%.
The proposed reductions are contained in annual filings that Duke Energy Progress made yesterday with the North Carolina Utilities Commission (NCUC) for costs associated with fuel used to generate electricity, compliance with the state's renewable energy portfolio standard (REPS) and the competitive procurement of renewable energy (CPRE) program, cost recovery under the Joint Agency Asset Rider (JAAR), and implementation of energy efficiency (EE) and demand-side management programs (DSM).
Duke Energy Progress works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs.
The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates.
If approved by the NCUC, the new fuel, REPS, CPRE and JAAR rates would go into effect Dec. 1, 2020, and the new EE and DSM rates would go into effect Jan. 1, 2021.
Duke Energy Progress serves about 1.4 million customers in central and eastern North Carolina and in the Asheville region.
More Help for Customers
In March, Duke Energy announced it will not disconnect any customer's service for nonpayment, in order to give customers experiencing financial hardship extra time to make payments. The company will continue to read meters and send bills.
The company is also waiving late payment fees and fees for returned payments for its millions of electric and natural gas customers across its service territories until the national state of emergency is lifted. For residential customers, the company is also waiving fees for credit and debit card payments.
Customers are encouraged to pay what they can to avoid building up a large balance that will be harder to pay off later. Customers can call Duke Energy to discuss their account or available options.
Customers can also seek assistance through Energy Neighbor Fund.
For information on what Duke Energy is doing to assist customers and respond to the COVID-19 pandemic, visit dukeenergyupdates.com.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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SOURCE Duke Energy
Article Date
6/10/2020Duke Energy pledges $1 million in grants to support social justice and racial equity
Source: PR Newswire
CHARLOTTE, N.C., June 8, 2020 /PRNewswire/ -- Duke Energy, through its foundation, is pledging $1 million to nonprofit organizations committed to social justice and racial equity.
Grants will be distributed across seven states where the company has electric and gas customers – North Carolina, South Carolina, Florida, Indiana, Ohio, Kentucky and Tennessee.
In a first for the company, employees of Duke Energy and subsidiary Piedmont Natural Gas will help identify opportunities and direct grants to their local communities. The company expects to begin awarding grants this summer.
"The heartbreaking loss of George Floyd's life and the powerful response to it are excruciating reminders of the progress we still need to make in our communities. We must be part of systemic solutions so we emerge as a community where everyone is treated as full and equal partners in our society," said Lynn Good, Duke Energy's chair, president and CEO. "We're drawing on our greatest resource – our employees – to help identify organizations that are working to address social and racial justice issues at the grassroots level, which will amplify the impact."
In addition to these grants, employees also have the opportunity to support local organizations through the Duke Energy Foundation's matching grant program, Dollars4Good, as well as its Hours4Good program, which enables employees to earn grants for volunteer hours logged.
Duke Energy is also strengthening its internal diversity and inclusion programs to foster greater awareness, respect and inclusion.
The $1 million in grants and expanded internal programs builds upon the company's past efforts to support and encourage diversity, inclusion and equity in our company and communities.
However, much more work is needed, and the company will continue to engage local organizations and leaders to understand how to be a part of the long-term solution to the social justice issues our communities face.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Media contact: Shawna Berger
800.559.3853
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SOURCE Duke Energy
Article Date
6/8/20205/29/2020 - Duke Energy Florida announces 3 new solar power plants to complete 700-megawatt commitment
Duke Energy Florida announces 3 new solar power plants to complete 700-megawatt commitment
Source: PR Newswire
ST. PETERSBURG, Fla., May 29, 2020 /PRNewswire/ -- Duke Energy Florida (DEF) today filed the locations of its three newest solar power plants, which will provide cleaner, smarter energy solutions to benefit Florida customers.
During construction, each solar project creates approximately 200 to 300 temporary jobs. All three solar power plants will be owned, operated and maintained by Duke Energy Florida and are expected to be finished in late 2021.
"The Archer, Duette and Charlie Creek solar power plants will complete Duke Energy Florida's commitment to customers to provide 700 MW of clean, green energy by 2022," said Catherine Stempien, Duke Energy Florida state president. "Once operational, our solar power plants will eliminate nearly 3 billion pounds of carbon dioxide emissions each year. The sun shines bright here in Florida, and we are committed to making more solar investments in the years to come."
Duke Energy Florida currently has more than 500 MW of solar generation under construction or in operation, excluding the sites announced today. The company is investing an estimated $1 billion to construct or acquire a total of 700 MW of solar power facilities from 2018 through 2022 in Florida and is planning to reach a total of almost 1,700 MW of solar generation over the next 10 years.
Duke Energy Florida recently completed two other facilities:
Video of installation of one-millionth solar panel at Columbia Solar Power Plant.
Drone video of Columbia plant.
Solar projects under construction
The Twin Rivers Solar Power Plant is being built on 515 acres in Hamilton County, Fla. Once operational, the 74.9-MW facility will consist of approximately 235,000 tracking solar panels that track the movement of the sun and are capable of producing enough electricity to power approximately 23,000 homes at peak production. Once completed, the estimated cost will be 40 cents per 1,000 kWh for a typical residential customer.
The Santa Fe Solar Power Plant is being built on 607 acres in Columbia County, Fla. The 74.9-MW plant will consist of approximately 235,000 tracking solar panels, which will produce enough carbon-free energy to power more than 23,000 average homes at peak production. Once completed, the estimated cost will be 43 cents per 1,000 kWh for a typical residential customer.
Duke Energy Florida is encouraging renewable investments within the state. By buying existing solar projects and using a competitive process to select DEF solar contractors, solar panels and project material suppliers, the company's solar power plants bring the greatest amount of dependable renewable energy online for customers in the most efficient and economical way while creating more jobs in the solar and energy-related markets.
Over the next decade, the company will continue to make innovative and targeted investments in additional solar power plants, battery storage technology, shared solar, transportation electrification and a modernized power grid to help meet customers' needs for diverse, reliable energy solutions.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Ana Gibbs
Cell: 813.928.7263 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/29/2020Duke Energy prepares for hurricane season during COVID-19 pandemic
Source: PR Newswire
CHARLOTTE, N.C., May 29, 2020 /PRNewswire/ -- As the June 1 start of hurricane season approaches, Duke Energy is preparing to respond to power outages as quickly as possible – while also adapting to the extra challenges of protecting the health and well-being of the company's employees, customers and communities during the COVID-19 pandemic.
"Now more than ever, our customers are depending on us for the essential energy they need to power their homes and workplaces, which in many cases are one and the same," said Harry Sideris, senior vice president of customer experience and services. "We recognize that even brief outages in this pandemic are no longer simple inconveniences but disruptions, so it's important that we, along with our customers, plan now for any impacts a major storm may create."
Duke Energy protective and preparedness measures
"We've experienced several spring storms across our service areas the past two months and we've learned a lot about social distancing and keeping people safe. We'll be applying those lesson on a broader scale should our service areas experience any major storms this hurricane season," Sideris continued.
The public can help Duke Energy promote a safe work environment by not approaching utility crews in the field or entering their work zone as they restore power. Please adhere to local COVID-19 protective orders and follow work-zone signage instructions to help our crews avoid distraction and maintain a safe environment.
Duke Energy will continue to rely on mutual assistance agreements with neighboring and other utilities for large storm response. While the modified lodging / logistics processes put in place for COVID-19 will be different, our experience indicates that the modifications should not cause significant delays in outage response unless circumstances limit the number of off-system crews available for response.
Important safety reminders
We encourage customers to have a plan in place if they experience an extended power outage. Below are some tips to help you and your family stay safe.
Before the storm hits
After the storm hits
More tips on what to do before, during and after a storm can be found at www.duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Outage reporting
Before the storm hits, customers should contact us to make sure their contact information is up to date and their communication preferences are noted, so they receive proactive outreach on the status on a power outage they may experience. Customers who experience an outage during a storm can report it the following ways:
Customer service specialists will be available to manage customer calls should the need arise, with more than 1,500 additional corporate responders from across all Duke Energy jurisdictions also available to assist as needed.
Tips for protecting refrigerated food during a power outage
For customers who lose power and have full refrigerators and freezers, the U.S. Food and Drug Administration (FDA) recommends the following tips:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media line:
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SOURCE Duke Energy
Article Date
5/29/2020Duke Energy Ohio to lower power bills by $4.24 per month
Source: PR Newswire
CINCINNATI, May 28, 2020 /PRNewswire/ -- Duke Energy Ohio will reduce its residential power bills by about 3.6% beginning June 1. As a result, typical residential customers who use 1,000 kilowatt-hours of electricity a month and purchase electric supply from Duke Energy Ohio will pay about $114 per month beginning with their June bills. That's down about $4.24 from May.
"We work each day to deliver safe and reliable energy to our customers at the best possible price," said Amy Spiller, president of Duke Energy's utility operations in Ohio and Kentucky. "Our customers' bills continue to be among the lowest in Ohio and well below the national average."
The driver for this upcoming reduction is the price Duke Energy Ohio pays to acquire electricity for its customers who have chosen not to switch to a third-party energy company for their electricity supply. Duke Energy Ohio uses a competitive auction process to secure electricity for these customers. As a whole, recent winning bids have been lower than past bids – leading to lower charges for the electric supply portion of monthly power bills.
The company makes no profit on the energy supply portion of customers' bills. The cost of energy supply that Duke Energy Ohio procures is passed on directly to its customers. Electric supply accounts for about 48% of these customers' monthly bills. The remainder is for electric delivery or, in other words, for Duke Energy Ohio to deliver the electricity to homes, maintain poles and wires, improve infrastructure, handle billing and payment, and more.
Duke Energy Ohio delivers electricity to more than 650,000 homes across southwest Ohio. About 43.5% of these customers rely on Duke Energy Ohio to acquire electric supply on their behalf and are the ones who will see lower rates beginning in June. The remaining customers receive electric supply from third-party energy companies, so their bills will not be impacted by the upcoming reduction.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 870,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 542,000 customers.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
Twitter: @DE_LeeF
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
5/28/2020Duke Energy Foundation encourages grant requests to fund programs that preserve, enhance South Carolina's natural places
Source: PR Newswire
GREENVILLE, S.C., May 21, 2020 /PRNewswire/ -- As summer quickly approaches and thoughts turn from staying at home to enjoying the great outdoors, the Duke Energy Foundation invites South Carolina nonprofit organizations focused on preserving and promoting our natural world to apply for grant funding to support these efforts.
In addition to the focus on preserving nature and habitats, the Foundation is also announcing a portion of its funding will be earmarked for public park and trail enhancements. Now through July 31, the Foundation encourages qualified nonprofit and government entities to submit requests up to $10,000 for funding of projects such as trail upkeep and maintenance; park beautification; and safety enhancements.
"People are looking for mental and physical outlets in a social-distanced world and are using natural environments like parks and trails for exercise and relaxation," said Mike Callahan, Duke Energy's South Carolina president. "With more and more people enjoying these public spaces, we think it's important to work alongside our community partners to ensure our communities can enjoy these beautiful places around us for years to come."
In addition to the focus on parks and trails, grant requests will also be considered from South Carolina organizations to fund environmental projects, wildlife and habitat conservation efforts and projects focused on water quality across Duke Energy's footprint.
Organizations interested in applying for these grants should visit the Foundation website.
The Foundation funds more than $2 million annually to nonprofit organizations in South Carolina. In addition, the Foundation has focused on ways to assist customers and communities with more than $400,000 in direct COVID-19 relief in the Palmetto State. These funds support hunger relief, local health and human services, education initiatives and bill assistance for low-income customers.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/21/20205/14/2020 - Duke Energy Foundation funds $200,000 in crisis relief grants for small businesses in Indiana
Duke Energy Foundation funds $200,000 in crisis relief grants for small businesses in Indiana
Source: PR Newswire
PLAINFIELD, Ind., May 14, 2020 /PRNewswire/ -- The Duke Energy Foundation is funding $200,000 in grants to Indiana economic development organizations offering crisis relief to small businesses in the state.
The businesses range from a city of Madison program offering its downtown businesses rent support, to a Brownstown tool supplier that committed to retaining and paying its employees during the pandemic.
"These are challenging times, and the COVID-19 crisis has been particularly difficult for small companies," said Duke Energy Indiana President Stan Pinegar. "These grants will support those businesses that are the backbone of the Hoosier communities we serve statewide."
Indiana economic development groups and other entities such as municipalities will receive $5,000 grants and will then identify businesses in need of the funds.
"This grant will allow us to provide temporary rent reductions to a handful of companies in our high-tech business incubators," said Paul Moses, director of business development for the Purdue Research Foundation. "We're hoping it will help them power through the crisis, enabling them to keep moving their innovative products and services to market."
The grants are in addition to $100,000 the Duke Energy Foundation awarded early in the crisis to help food banks and other community action groups across Indiana address hunger and other urgent needs. The Foundation also recently announced $382,000 in grants to support Indiana K-12 programs focused on summer reading programs, STEM and experiential learning. The Foundation is giving the schools and other groups receiving the grants flexibility to reallocate grant funds during the pandemic.
The following organizations are receiving grants, which they are distributing to Duke Energy business customers in their areas:
Economic Development Organization | Targeted County |
Aspire Johnson County | Johnson |
Bloomington Economic Development Corporation | Monroe |
Boone County Economic Development Corporation | Boone |
City of Fishers | Hamilton |
City of Madison Economic Development | Jefferson |
City of Westfield | Hamilton |
Crawford County Economic Development | Crawford |
Greensburg/Decatur County Economic Development Corporation | Decatur |
Economic Development Coalition of Southwest Indiana | Southwest Region |
Economic Development Group of Connersville and Fayette County | Fayette |
Fulton Economic Development | Fulton |
Gibson County Economic Development Corporation | Gibson |
Greater Columbus Economic Development Corporation & Columbus Area Chamber of Commerce | Bartholomew |
Greater Kokomo Economic Development Alliance | Howard |
Greater Lafayette Commerce | Tippecanoe |
Greencastle/Putnam County Development Center | Putnam |
Greene County Economic Development Corporation | Greene |
Grow Wabash County | Wabash |
Hamilton County Economic Development Corporation | Hamilton |
Harrison County Economic Development Corporation | Harrison |
Indy Chamber & Indy Partnership | Central Region |
Jackson County Industrial Development Corporation | Jackson |
Jennings County Economic Development Commission | Jennings |
Lawrence County Economic Growth Council | Lawrence |
Martin County Alliance | Martin |
New Castle Main Street & New Castle-Henry County Economic Development Corporation | Henry |
Northeast Indiana Regional Partnership | Northeast Region |
One Dearborn | Dearborn |
One Southern Indiana | Clark, Floyd |
Orange County Economic Development Partnership | Orange |
Owen County Chamber of Commerce and Economic Development Corporation | Owen |
Pike County Economic Development Corporation | Pike |
Purdue Research Foundation | Tippecanoe |
Radius Indiana | Southwest Central Region |
Shelby County Development Corporation | Shelby |
Terre Haute Economic Development Corporation | Vigo |
Town of Brownsburg | Hendricks |
Town of Plainfield | Hendricks |
Union County Development Corporation | Union |
Washington County Economic Growth Partnership | Washington |
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars.
In Indiana, the Foundation provides approximately $2 million in charitable gifts to a wide variety of nonprofit groups.
More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Angeline Protogere
Office: 317.838.1338| Mobile: 317.431.1910
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/14/2020Duke Energy, City of Charlotte team up on solar power project in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., May 14, 2020 /PRNewswire/ -- The City of Charlotte has become the first municipality to execute a renewable power agreement under Duke Energy's Green Source Advantage (GSA) program – further expanding solar energy in North Carolina.
The 35-megawatt (MW) solar facility will be constructed in Iredell County. Under a 20-year power purchase agreement, Duke Energy will secure zero carbon power to partially offset the city of Charlotte's energy demand.
"We are proud to be a municipal leader in North Carolina and in the U.S., not only setting ambitious climate and energy goals, but taking actions on those goals to support the environment and health of our community," said Charlotte Mayor Vi Lyles.
The city will partner with Carolina Solar Energy, a North Carolina-based solar energy company, and Ecoplexus, an international solar energy company with offices in Durham, N.C., to build the solar farm, which is expected to be fully operational in 2022. The facility will be along Tomlin Mill Road near Statesville.
"Our customers want more options to secure renewable energy and the Green Source Advantage makes that happen," said Stephen De May, Duke Energy's North Carolina president. "We designed the program to be flexible and allow larger users to negotiate directly with third-party developers. It supports our customers' goal and expands renewable energy in North Carolina."
The GSA program is an outgrowth of 2017's landmark solar legislation in North Carolina. Programs such as solar rebates for customers and solar leasing were also part of that legislation. In 2015, Duke Energy's pilot program for GSA – the Green Source Rider – had companies like Google and Cisco participate.
The GSA allows large customers to offset its power purchases by securing renewable energy from projects connected to the Duke Energy grid. The customer may keep the renewable energy certificates (RECs) from the projects and use the energy purchased to satisfy sustainability or carbon-free goals.
The move fits well with Charlotte's goal to have its municipal fleet and facilities be fueled by 100% zero-carbon energy sources by 2030.
Participation in Green Source Advantage means the City of Charlotte will offset a portion of the energy supplied to its municipal operations with renewable energy. The city and the solar developer agreed on the specific project and additional costs associated with energy from the facility. Other Duke Energy customers will not pay for any part of the project.
Overall, 600 MW of capacity is available under the Green Source Advantage program for large Duke Energy customers in North Carolina. Currently, Duke Energy maintains more than 3,300 MW of solar power on its energy grid in North Carolina and operates 40 solar facilities. North Carolina currently ranks No. 2 in the nation for overall solar power.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
5/14/2020Duke Energy reports first-quarter 2020 financial results
Source: PR Newswire
CHARLOTTE, N.C., May 12, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its first-quarter 2020 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chair, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 800-458-4148 in the U.S. or 323-794-2093 outside the U.S. The confirmation code is 1555838. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 22, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 1555838. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
800.559.3853
Analysts: Bryan Buckler
704.382.2640
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SOURCE Duke Energy
Article Date
5/12/2020Duke Energy Carolinas proposes accelerating fuel savings to North Carolina customers
Source: PR Newswire
CHARLOTTE, N.C., May 8, 2020 /PRNewswire/ -- Duke Energy Carolinas has filed a plan to accelerate savings to North Carolina customers starting in September.
As part of its COVID-19 response, the company is adding fuel savings from the first quarter of 2020 to its pending fuel filing to bring more savings to customers this year – rather than including in next year's filing.
The result is an additional 1.11% reduction in fuel costs on customer bills starting Sept. 1, on top of the 1.9% decrease the company already requested in February.
"As many families and businesses are facing financial challenges, we understand that every little bit can help," said Stephen De May, Duke Energy's North Carolina president. "We're looking at every opportunity to help our customers during these unprecedented times."
If approved by the North Carolina Utilities Commission, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see a net decrease in their bills from the current $107.31 to $104.28 – a decrease of $3.03, or 2.8%, due to fuel savings and other annual adjustments.
Commercial customers would see an overall average decrease in their bills of about 2.7%. Industrial customers would receive an average decrease of about 2.5%.
The net decrease in rates includes annual adjustments for costs related to fuel used to generate electricity at power plants, as well as compliance with the state's renewable energy portfolio standard and implementation of the competitive procurement of renewable energy statute.
Rates will adjust again slightly in January to account for programs to help increase efficiency, reduce energy consumption and save customers money on their energy bills.
The fuel rate is based on the projected cost of fuel used to generate electricity for customers, plus a true-up of the prior year's projection.
While the company's actual costs are typically calculated through the previous December, the updated filing includes a true-up through March to provide more immediate benefit to customers. By law, the company makes no profit from the fuel component of rates.
The original proposal was presented to the NCUC in February prior to the current state of emergency.
Duke Energy Carolinas serves 2 million households and businesses in central and western North Carolina, including Durham, the Triad and Charlotte.
The proposed decrease would affect the bills of all Duke Energy Carolinas customers in North Carolina. The company's other North Carolina utility – Duke Energy Progress – will make its annual fuel filing in June.
More Help for Customers
In March, Duke Energy announced it will not disconnect any customer's service for nonpayment, in order to give customers experiencing financial hardship extra time to make payments. The company will continue to read meters and send bills.
The company is also waiving late payment fees and fees for returned payments for its millions of electric and natural gas customers across its service territories until the national state of emergency is lifted. For residential customers, the company is also waiving fees for credit and debit card payments.
Customers are encouraged to pay what they can to avoid building up a large balance that will be harder to pay off later. Customers can call Duke Energy to discuss their account or available options.
Customers can also seek assistance through Share the Warmth.
For information on what Duke Energy is doing to assist customers and respond to the COVID-19 pandemic, visit dukeenergyupdates.com.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/8/2020Duke Energy standing by customers, employees during pandemic; company also moving toward greener future, CEO tells shareholders
Source: PR Newswire
CHARLOTTE, N.C., May 7, 2020 /PRNewswire/ -- Duke Energy's purpose has never been more important than it is right now, Chair, President and CEO Lynn Good told investors during the company's annual shareholders meeting online today.
"This pandemic is unlike anything we've experienced – and it's required us to dramatically adjust how we operate. Yet, our purpose has never been more important. We provide an essential service, powering the lives of our customers and the vitality of our communities, no matter the circumstances," Good said.
"I'm proud to say that our company continues to maintain reliable electric and natural gas service" during the pandemic, she said.
"Like all of you, I want to extend my thanks to our health care workers, first responders and others on the front lines. They're true heroes for how they've cared for those afflicted with the virus," she said.
As Duke Energy continues to provide dependable power to support their efforts, the company also remains focused on serving its customers and taking care of its employees, Good said.
"We've taken significant steps to help keep our team safe, including implementing social distancing measures, performing enhanced cleaning, shifting 18,000 employees to work remotely, staggering staff and shifts, and providing appropriate personal protective equipment," she said.
Duke Energy took steps early in the pandemic to suspend disconnections of customers' electric and gas service for non-payment, and to waive various fees for customers.
The Duke Energy Foundation has provided $3 million to support relief efforts.
"We will continue to look for ways to support our customers and communities as they recover from the economic impacts of the virus," Good said.
2019: 'A strong year'
Good also provided an overview of the company's performance last year.
"While 2019 may seem like a distant memory now, I did want to share a business update because it was a strong year for Duke Energy – and I'm so proud of how our employees delivered incredible results," she said.
"We continued to execute our strategy and made progress transforming how we operate, while meeting our financial targets. We also took steps to strengthen our balance sheet to maintain our credit metrics," Good said.
Duke Energy's "long-term strategy to deliver an outstanding customer experience" by investing in the energy grid, cleaner energy and natural gas infrastructure "continues to guide us," she said.
"Starting with our customers, we made important improvements to provide the personalized service they expect, resulting in a 25 percent increase on our internal customer satisfaction metrics," Good said.
"We're also investing to provide better reliability by modernizing our grid. Eighty percent of our customers have smart meters, and our investments saved customers approximately 62 million outage minutes in 2019," she said.
Greener future
"And as we look ahead, our transition to lower-carbon generating resources is important to our customers. That's why we recently brought our Asheville combined-cycle natural gas plant online and have more than 8,100 megawatts of wind, solar and biomass on our system – with plans to double that amount by 2025," Good said.
"We announced plans to renew plant licenses for our carbon-free nuclear fleet, which accounts for nearly half of our generation in the Carolinas and supports our carbon reduction goals.
"And our investments in natural gas infrastructure, including our $300 million Robeson LNG facility and pipeline integrity projects, continue to aid in our transition to a lower-carbon future," she said.
"In addition, I'm proud of our progress to reduce our carbon emissions. Since 2005, we have reduced our carbon emissions 39 percent – 8 percent in 2019 alone. And in September, we refreshed our climate strategy and now plan to reduce our carbon emissions by at least 50 percent by 2030 and achieve net-zero emissions by 2050," Good said.
"We are taking a thoughtful, disciplined approach to meeting these targets, collaborating with stakeholders in each of our states to turn these goals into reality."
Other shareholder business
Also at today's meeting:
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Neil Nissan
800.559.3853
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SOURCE Duke Energy
Article Date
5/7/2020Duke Energy declares dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., May 7, 2020 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.945 per share payable on June 16, 2020, to shareholders of record at the close of business May 15, 2020.
The company also declared a quarterly cash dividend on its Series A preferred stock of $359.375 per share payable on June 16, 2020, to shareholders of record at the close of business May 15, 2020. This is equivalent to $0.359375 per depositary share.
Duke Energy has paid a cash dividend on its common stock for 94 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 2,300 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve 7.8 million retail electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to 1.6 million customers in five states: North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list and Forbes' "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Bryan Buckler
704.382.2640
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SOURCE Duke Energy
Article Date
5/7/2020Piedmont Natural Gas donates $50,000 to aid those struggling with utility bills during COVID-19 in North Carolina, South Carolina, Tennessee
Source: PR Newswire
CHARLOTTE, N.C., May 6, 2020 /PRNewswire/ -- Piedmont Natural Gas today announced a $50,000 grant to its Share the Warmth program to help low-income households in North Carolina, South Carolina and Tennessee impacted by the COVID-19 pandemic.
Piedmont's Share the Warmth program helps neighbors in need pay their energy bills, regardless of their home's energy source – whether it's natural gas, propane, oil or electric. Despite its name, the program is available year-round, in any season.
"Our neighbors need our support more than ever as they work through the impact of this ongoing crisis," said Piedmont Natural Gas Senior Vice President Sasha Weintraub. "Individuals and families are reaching out to our partner agencies in increasing numbers for assistance with their utility bills, and we are sensitive to the ongoing needs of our customers and communities."
Piedmont previously helped fund Share the Warmth through its annual donation of $100,000 earlier this year.
"Piedmont is making this additional contribution to our Share the Warmth program to help those who are facing uncertainty during this unprecedented time," said Barbara Ashford, Piedmont's director of community relations.
Additional measures Piedmont has taken to assist customers who may be faced with hardship due to the pandemic include halting disconnections for nonpayment and waiving late payment fees.
The company also issued a plea to its customers to join its Share the Warmth Round Up program, which authorizes Piedmont to round up a customer's monthly bill to the nearest dollar, with the difference going to Share the Warmth.
During the course of a year, the customer would pay no more than $12 into the fund, and 100% of donations help residents in the community where the money is collected.
Customers can enroll by going to piedmontng.com/ShareTheWarmth, filling out the form on the back of their bill or calling Piedmont at 800.752.7504.
Since 2003, Piedmont Natural Gas, its customers, the community and the Piedmont Natural Gas Foundation have donated more than $3.7 million to the Share the Warmth program.
In response to the COVID-19 pandemic, Piedmont and its parent company, Duke Energy, initially announced $1.3 million in donations by the Duke Energy Foundation to support hunger relief and help local health and human services nonprofits across its service territories. To date, the Duke Energy Foundation has given approximately $3 million in COVID-19 relief funding across its jurisdictions. Piedmont also is matching donations to The Nashville Food Project's Community Cupboard 5-to-1, up to $25,000. For more information on how Piedmont is assisting the community and its customers during the pandemic, visit piedmontng.com/updates.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jason Wheatley
24-Hour: 877.348.3612
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SOURCE Piedmont Natural Gas
Article Date
5/6/2020Duke Energy Foundation donates $150,000 to agencies in South Carolina helping pay energy bills during COVID-19 crisis
Source: PR Newswire
GREENVILLE, S.C., May 5, 2020 /PRNewswire/ -- The Duke Energy Foundation has announced a $150,000 donation to support low-income customers in the Palmetto State who are struggling to pay their utility bills during the COVID-19 crisis.
This additional funding will significantly increase the assistance available through the Energy Neighbor Fund and Share the Warmth programs to provide help to about 550 households with their utility bills. Funds can assist with heating or cooling costs.
"The pandemic has put a financial strain on many utility customers across the state," said Mike Callahan, Duke Energy's South Carolina president. "We are determined to help our neighbors in South Carolina through these challenging times."
The Energy Neighbor Fund (Duke Energy Progress) and Share the Warmth (Duke Energy Carolinas) programs are long-standing initiatives of the company and provide heating and cooling bill assistance to utility customers during the year through various social service agencies and nonprofit organizations. The $150,000 donation will be evenly split between the two programs.
"Duke Energy has been a valuable AIM partner for 30 years, helping us provide energy assistance to thousands of under-resourced households," said Kristy King-Brock, AIM executive director. "Again, Duke Energy has stepped up to help us provide a helping hand to the most vulnerable in our community. We are very thankful for their commitment to helping organizations like AIM during these very challenging times."
In addition to the Duke Energy programs, federal initiatives like the Low-Income Home Energy Assistance Program (LIHEAP) also provide home energy assistance to help eligible low-income households meet their home heating and/or cooling needs. These federal funds recently received hundreds of millions of dollars as part of the federal stimulus initiative.
"Record unemployment is sure to last through what is predicted to be a very warm summer," said Madeleine McGee, president of Together SC, an alliance that brings nonprofit organizations and their staffs together to help strengthen the state's nonprofit community. "These additional funds will enable nonprofits working on the frontline to keep families in their homes and provide the safety net we all want to know is there for us."
The Duke Energy Foundation announced an initial $1.3 million in support of COVID-19 relief across the company's jurisdictions, including $250,000 to support hunger relief and help local health and human services nonprofits in South Carolina. With this additional investment in bill assistance, the Duke Energy Foundation has invested more than $400,000 in direct COVID-19 relief in South Carolina. The Foundation has also provided flexibility for grantees to apply program-specific grants to their emerging COVID-19 needs.
In addition to support from the Duke Energy Foundation, the company has already announced several steps it's taking to relieve the financial burden of COVID-19 on all customers, including suspending disconnections due to nonpayment, waiving late-payment charges and waiving returned payment/check fees, among others.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/5/20204/30/2020 - Piedmont Natural Gas to match donations 5-to-1 to help Nashville-area hospitality workers
Piedmont Natural Gas to match donations 5-to-1 to help Nashville-area hospitality workers
Source: PR Newswire
NASHVILLE, Tenn., April 30, 2020 /PRNewswire/ -- Piedmont Natural Gas today announced it will donate up to $25,000 to The Nashville Food Project's Community Cupboard initiative to help area hospitality workers impacted by the COVID-19 pandemic.
Piedmont will match contributions five to one, meaning the company will give $5 for every $1 donated.
The Community Cupboard is a program to provide 100 "shares" of groceries – such as eggs, milk and produce – each week at no cost to those who have experienced job and wage loss as a result of COVID-19 business closures.
Some of the produce comes from supplies that local farmers normally would have sold to restaurants. With fewer restaurant orders due to the pandemic, the program also helps farmers by providing a market for their excess produce.
"We are extremely proud to support the Community Cupboard program in addressing food needs for our local hospitality employees, some of whom were the first to lose their employment due to coronavirus closings," said Stephen Francescon, community relations manager for Piedmont. "And by purchasing excess produce from our local farmers, this program ends up helping so many in need in our community."
As part of an additional partnership between The Nashville Food Project and Fat Bottom Brewing, at least 50 of the weekly grocery shares will be distributed to out-of-work hospitality workers from the Nashville area.
"Fat Bottom Brewing and The Nashville Food Project are proud to partner with community leaders such as Piedmont Natural Gas to help support Middle Tennessee's hospitality industry during this difficult time," said Fat Bottom Brewery business development director Quinn O'Sullivan. "With Piedmont's support, we can offer groceries to even more folks each week."
To donate to The Nashville Food Project's Community Cupboard, visit https://thenashvillefoodproject.kindful.com/piedmontng.
To learn more about The Nashville Food Project's Community Cupboard program, visit https://illumination.duke-energy.com/articles/nashville-food-project-provides-groceries-pay-to-hospitality-workers-in-need.
For more information on how Piedmont is assisting the community and its customers during the pandemic, visit piedmontng.com/updates.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jason Wheatley
24-Hour: 877.348.3612
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SOURCE Piedmont Natural Gas
Article Date
4/30/20204/29/2020 - Duke Energy Foundation provides funds to Indiana K-12 education organizations during COVID-19 crisis
Duke Energy Foundation provides funds to Indiana K-12 education organizations during COVID-19 crisis
Source: PR Newswire
PLAINFIELD, Ind., April 29, 2020 /PRNewswire/ -- The Duke Energy Foundation has announced $382,000 in grants to support Indiana K-12 programs focused on summer reading programs, STEM and experiential learning.
Given the COVID-19 crisis, the Foundation has also provided each organization with the flexibility to reschedule programming.
"These extraordinary education organizations are essential to the well-being and success of our state in these difficult times," said Stan Pinegar, Duke Energy state president for Indiana. "We are grateful for the work they do to serve our communities, and recognize that flexibility in applying these funds is needed during this time of uncertainty."
"At Rose-Hulman, it's critical now more than ever to ensure we deliver a meaningful curriculum to continue to inspire and cultivate careers in STEM fields," said Jim Bertoli, senior major gift officer at Rose-Hulman Institute of Technology. "Being able to shift our grant award from our in-school offering to an e-mentoring program allows us to stay on track with our mission. We're grateful to Duke Energy for their flexibility during these pressing times."
The following organizations have received grant awards:
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars.
In Indiana, the Foundation provides approximately $2 million in charitable gifts to a wide variety of nonprofit groups.
More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | Mobile: 317.474.7448
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/29/2020New Duke Energy reports show progress toward ambitious climate and sustainability goals
Source: PR Newswire
CHARLOTTE, N.C., April 28, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) today released a pair of data-driven reports outlining the company's recent accomplishments and path to advance its critical environmental, social and governance (ESG) initiatives.
The company's Sustainability Report details the company's performance in four key areas – customers, growth, operations and employees. The report also is available in a PDF for download.
Duke Energy's 2020 Climate Report discusses how the company is addressing climate change by reducing carbon emissions and making its electric grid more resilient.
"Our commitment to ESG has delivered strong results for our customers and our shareholders – and we're focused on maintaining this level of performance and transparency as we work to achieve net-zero carbon emissions by 2050," said Lynn Good, Duke Energy's chair, president and CEO. "These two reports showcase the significant progress we've made in these areas, and our plan to help address the challenges from climate change."
Sustainability Report
The company's 14th Sustainability Report highlights its progress toward its sustainability goals:
Climate Report
Duke Energy's 2020 Climate Report underscores the company's strong progress toward its new climate goals. Duke Energy reduced carbon emissions from electricity generation by an additional 8% in 2019 from 2005 levels, bringing total reductions to 39%.
The analysis in the report confirms that the company is on track to achieve its 2030 goal of reducing carbon emissions from electricity generation by at least 50% from 2005 levels.
The report goes on to provide insights into the complexities and opportunities ahead in the path toward net-zero carbon emissions and provides an enterprise-level scenario analysis with an illustrative path to net-zero carbon emissions by 2050.
The net-zero scenario analysis underscores the fact that Duke Energy will be significantly increasing its use of renewable energy, and highlights the critical role that natural gas, nuclear and energy storage must play in decarbonization and in balancing the renewable additions. Additionally, the report discusses Duke Energy's continued commitment to energy efficiency and demand side management, as it will play an important role.
The 2020 Climate Report highlights the necessity of advancing the development and commercial viability of new zero-emitting generation technologies for Duke Energy to achieve its net-zero goal. This analysis places further emphasis on timely R&D efforts.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless, Sustainability Report
Phil Sgro, Climate Report
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/28/20204/27/2020 - Fuel savings will decrease bills for Duke Energy Progress customers in South Carolina beginning this summer
Fuel savings will decrease bills for Duke Energy Progress customers in South Carolina beginning this summer
Source: PR Newswire
GREENVILLE, S.C., April 27, 2020 /PRNewswire/ -- Duke Energy Progress is proposing a decrease in monthly fuel costs for its South Carolina customers beginning this summer as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants.
Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
Duke Energy Progress makes a fuel cost recovery filing annually with the Public Service Commission of South Carolina (PSCSC). The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates.
The company made its annual fuel filing April 27. If approved by the PSCSC, the new fuel rates would go into effect July 1.
Under the proposal, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see their bills decrease from the current $124.98 to $120.87, a decrease of $4.11, or 3.3 percent.
Commercial customers would see an average decrease in their bills of about 1.6 percent, and industrial customers would receive an average decrease of about 2.9 percent.
The primary reason for the proposed overall decrease in rates is the decreasing price of natural gas.
Duke Energy Progress works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs. The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly.
The proposed decrease would affect the bills of all Duke Energy Progress customers in South Carolina. The company's other South Carolina utility -- Duke Energy Carolinas -- will make its annual fuel filing in July.
To help customers take control of their energy use and manage their bills, Duke Energy Progress offers energy-saving tips and innovative efficiency programs for every budget to help customers realize additional savings.
To learn more about these programs, visit www.duke-energy.com/savings.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/27/2020Duke Energy to hold annual shareholders meeting online May 7
Source: PR Newswire
CHARLOTTE, N.C., April 23, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) will hold its annual shareholders meeting online on Thursday, May 7, at 12:30 p.m. ET.
Duke Energy Chair, President and CEO Lynn Good will provide an overview of the company's 2019 performance and response to COVID-19.
Shareholders will be able to participate in the meeting, vote on company and shareholder proposals and, through a website, submit questions.
Questions will be answered either during the meeting or afterward through a web posting.
Information about how shareholders can access the meeting online, or by phone, is available in Duke Energy's proxy statement.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Neil Nissan
800.559.3853
Analysts contact: Bryan Buckler
704.382.2640
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SOURCE Duke Energy
Article Date
4/23/2020Duke Energy Foundation provides more than $340,000 to South Carolina K-12 education organizations during COVID-19 crisis
Source: PR Newswire
GREENVILLE, S.C., April 21, 2020 /PRNewswire/ -- The Duke Energy Foundation has announced more than $340,000 in grants to support South Carolina K-12 education programs focused on summer reading loss, STEM and experiential learning.
Given the COVID-19 crisis, the Foundation has given each grantee the opportunity for additional flexibility and the option to use the funds to address unforeseen operational challenges.
"Nonprofits are on the frontlines of the pandemic response. Having the flexibility to move funds where they are needed most right now is critical to their success," said Mike Callahan, Duke Energy South Carolina president. "Funding these programs is significant, but helping organizations survive now so they can continue to deliver these services down the road just makes sense."
Together SC, the state alliance that brings nonprofit organizations and their staffs together to help strengthen the state's nonprofit community, understands firsthand the needs nonprofits are facing and the value of flexibility.
"Duke Energy's thoughtful decision to permit grantees to redirect grant funds to more urgent COVID-19 needs is a brilliant move," said Madeleine McGee, Together SC president. "These funds may well be what gets these organizations and those they serve through the next few months."
Some nonprofits across the state are already feeling the impact and have indicated plans to use the funds for COVID-19 response and modify the program to meet both the needs of the students and their organization.
Darlington County School District received funding for a summer book mobile for students in Darlington, Lamar and Society Hill.
"We were so excited to receive this grant," said Marisa Johnson, arts and innovative programs coordinator for the district. "Due to the statewide school closures, we are forced to revisit our original plan and will now distribute books to our students at various locations around the county. We are extremely grateful for Duke Energy's flexibility in allowing grantees to make programmatic changes because of the viral pandemic we are experiencing. Our students will have plenty of books to add to their home libraries thanks to Duke Energy."
Grant Recipients
Organization | Grant Award | Counties Served |
Children's Museum of the Upstate | $20,000 | Greenville |
Clarendon School District Two | $14,000 | Clarendon |
Clemson University Foundation | $87,500 | Qualifying counties |
Darlington County School District | $27,000 | Darlington |
Florence School District One | $20,000 | Florence |
Girl Scouts of SC | $20,000 | Upstate region |
SC Future Minds | $20,000 | Cherokee |
South Carolina Ag in the Classroom | $20,000 | Qualifying counties |
South Carolina Governor's School for Science and | $18,000 | Florence Darlington Chesterfield |
South Carolina Waterfowl Association | $20,000 | Qualifying counties |
United Way of Pickens County | $25,000 | Pickens |
United Way of Anderson County | $25,000 | Anderson |
Upcountry History Museum - Furman University | $20,000 | Greenville |
Winthrop University Foundation | $11,614 | York |
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/21/2020Duke Energy lineworkers ask public to "shine a light" on all front-line workers as part of National Lineworker Appreciation Day
Source: PR Newswire
CHARLOTTE, N.C., April 17, 2020 /PRNewswire/ -- Snapped poles and tangled power lines over a battered landscape of downed trees are the usual challenges lineworkers face after severe weather strikes – but the COVID-19 pandemic and the U.S. Centers for Disease Control's recommended safety guidelines have added new complexities to lineworkers' already complicated work.
Spring storms that barreled across the Midwest and Southeast this month tested even the most seasoned lineworkers, who adjusted to new social distancing and face mask requirements while working to restore power to nearly 1 million Duke Energy customers – including essential services like hospitals, grocery stores and schools that provide meals.
Electricity plays an essential role during a time when many people – because of stay-at-home orders – now live, work, eat, teach, learn and play exclusively at home, every day.
Sharing the spotlight: 'Front Lights for Front-Line Workers"
April 18 is National Lineworker Appreciation Day – a day set aside each year to honor the men and women who dedicate themselves to the often hazardous work of keeping the lights on. But this year, Duke Energy lineworkers are sharing the spotlight with all essential workers who are keeping the nation safe and functioning during the pandemic.
"I've been awestruck by the selfless acts of everyday heroes – from the health care workers fighting the virus on the front lines, to store clerks stocking the shelves with food, to concerned citizens delivering groceries to elderly neighbors," said Harry Sideris, senior vice president of Duke Energy customer experience and services. "We are all united in the midst of this uncertainty, and we find ourselves – as we often do in crises – on the front lines doing the necessary work to keep things running. We're especially proud of our lineworkers for keeping the lights on for the essential facilities, homes and businesses that depend on us during such an important time in our nation."
As part of the shared recognition, the company is encouraging its customers and communities to turn on front lights on April 18 at 9 p.m. for its "Front lights for Front-Line Workers" initiative to recognize all front-line heroes.
Those who wish to participate are encouraged to use the hashtags #FrontLights4FrontLineWorkers and #ThankALineman on social media.
More than 7,800 Duke Energy and contract lineworkers are part of the Duke Energy team. They are responsible for constructing, operating and maintaining equipment and more than 300,000 miles of power lines in Duke Energy's service territories – that's enough to wrap around the Earth 12 times.
For more information about Duke Energy's lineworkers, follow @DukeEnergy and visit facebook.com/DukeEnergy.
B-roll of lineworkers in the field is available here: https://news.duke-energy.com/file?fid=560ef6e95e8eef0635e13d15.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
meghan.miles@duke-energy.com
Twitter - @DE_MeghanM
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SOURCE Duke Energy
Article Date
4/17/2020Piedmont Natural Gas and Duke Energy remind communities to call 811 before digging
Source: PR Newswire
CHARLOTTE, N.C., April 16, 2020 /PRNewswire/ -- Piedmont Natural Gas and Duke Energy are reminding their customers and communities to call 811 before digging to protect the nation's underground utility infrastructure, prevent potential personal injury and avoid electric and natural gas outages. The companies made a special plea to those under stay-at-home orders who may have more time for yard projects that involve digging.
"With the onset of beautiful weather, and with much of the country under stay-at-home orders, more people may be tackling yard projects that could involve digging," said Piedmont Natural Gas Senior Vice President Sasha Weintraub. "We are asking these individuals to please remember to call 811 at least three days before they dig to prevent personal harm, service outages and costs to replace the lines."
The national "811 Call Before You Dig" system was created so anyone who plans to dig anywhere can call to have underground utility lines clearly marked. The goal of this common effort is to prevent potential injuries, disruptions in utility services and costly repairs for the offenders.
The free service is available for all property types (homes and businesses) and it notifies utility companies, which then send crews to identify and clearly mark underground electric, natural gas, water, sewer, phone, cable TV and other utility lines.
Crews use above-ground stakes, flags or paint to mark restricted areas before a customer begins a digging project.
"While accidents will occur, most cut lines are completely preventable," said Weintraub. "In addition to the danger and expense, many incidents close roads, cause evacuations and tie up police, fire and other emergency personnel who are needed elsewhere."
In 2019, Piedmont and Duke Energy together reported more than 10,500 cuts to the underground lines (natural gas and electric) in their service territories. Specifically, Piedmont and Duke Energy reported approximately 3,100 damages to their underground natural gas facilities in the Carolinas, Tennessee, Ohio and Kentucky; while Duke Energy reported nearly 7,500 damages to its underground electric network in all its service territories.
In late 2019, the Common Ground Alliance (CGA) issued a report stating that 509,000 excavation-related damages to underground facilities occurred nationwide in 2018, compared to the 2017 estimate of 439,000 damages. The CGA is a national organization formed in 2000 to unify all 50 states in a shared effort to prevent damage to underground utilities and infrastructure.
For more information about the national system and about the 811 office in your state, visit call811.com.
To see a video that shows how to use 811, click here. For additional information, see our story on illumination: Before you dig, call 811. It's free.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in Tennessee, North Carolina and South Carolina. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jennifer Sharpe
24-Hour: 877.348.3612
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SOURCE Duke Energy
Article Date
4/16/20204/16/2020 - Duke Energy Foundation announces $1 million in COVID-19 response and education grants in Florida
Duke Energy Foundation announces $1 million in COVID-19 response and education grants in Florida
Source: PR Newswire
ST. PETERSBURG, Fla., April 16, 2020 /PRNewswire/ -- The Duke Energy Foundation today announced a $1 million donation to assist Florida communities through COVID-19 initiatives and education grants.
The company's $450,000 COVID-19-related grants address immediate social service and hunger relief needs resulting from the virus pandemic. Disbursed through 50 organizations, the funds will support more than 2,000 families by helping to pay gas or electric utility bills, and also will support programs that address food needs for all ages, children to seniors.
In addition, the Duke Energy Foundation recently granted $550,000 to 22 Florida-based organizations to support energy, engineering and environmental educational initiatives. Given the COVID-19 crisis, the Foundation has also provided each organization with the option to use the funds to address unforeseen operational challenges.
"These targeted investments, coupled with the actions Duke Energy has taken to help our customers during this challenging time, help fulfill critical community needs – and hopefully lessen the burden – for Floridians experiencing financial hardships during the virus pandemic," said Catherine Stempien, Duke Energy Florida president.
Duke Energy Florida has taken additional steps to support customers during these unprecedented times, including not disconnecting service due to nonpayment and waiving late payment and returned payment fees.
"Heart of Florida United Way and the community it serves is grateful to have a partner like Duke Energy supporting us during this challenging time," said Jeff Hayward, President & CEO of Heart of Florida United Way. "The amount of requests for assistance is unprecedented, and the contribution from Duke Energy will help support many families who are trying to keep their lives together."
The largest COVID-19 response grants include:
For information on how to access utility bill pay assistance, visit the Duke Energy website with nonprofit organization contact information listed by county. Utility bill pay assistance is not limited to Duke Energy bills. To learn more about Duke Energy's response to the COVID-19 virus, please visit the company webpage.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
4/16/2020Duke Energy Foundation donates $150,000 to help low-income customers in North Carolina pay energy bills during COVID-19 crisis
Source: PR Newswire
CHARLOTTE, N.C., April 16, 2020 /PRNewswire/ -- The Duke Energy Foundation has announced a $150,000 donation to support low-income customers in North Carolina who are struggling to pay their utility bills during the COVID-19 crisis.
The funds will be provided to approximately 600 households through the company's Energy Neighbor Fund and Share the Warmth programs. Funds can assist with heating or cooling costs.
"We recognize the financial toll this crisis is having on customers and we're finding ways to provide support," said Stephen De May, Duke Energy's North Carolina president. "We'll continue to support our communities as the crisis unfolds, and we want our customers to know we're here to help."
Greensboro Urban Ministry is an agency partner for the company's Share the Warmth program. "For the families who come to the Greensboro Urban Ministry for help, the COVID-19 crisis is also a financial crisis," said Tyra Clymer, Emergency Assistance Director. "Share the Warmth funds help our most vulnerable neighbors during these difficult times."
The Energy Neighbor Fund (Duke Energy Progress) and Share the Warmth (Duke Energy Carolinas) programs are long-standing initiatives of the company and provide heating and cooling bill assistance to customers during the year through various social service agencies and nonprofit organizations. The $150,000 donation will be evenly split between the two programs.
"These are challenging times, and contributions such as these are crucial to helping alleviate the difficulties many are facing," said Tara Myers, North Carolina's deputy secretary for human services. "We appreciate our partners across the state coming together at this time to lessen the financial impact many are facing due to COVID-19."
The Duke Energy Foundation previously announced $1.3 million in support of COVID-19 relief across the company's jurisdictions, including $900,000 to support hunger relief and help local health and human services nonprofits in North Carolina. With this additional investment in bill assistance, the Duke Energy Foundation has invested more than $1 million in direct COVID-19 relief in North Carolina. The Foundation has also provided flexibility for grantees to apply program-specific grants to their emerging COVID-19 needs.
In addition to support from the Duke Energy Foundation, the company has already announced a number of steps it's taking to relieve the financial burden of COVID-19 on all customers, including suspending disconnections due to nonpayment, waiving late-payment charges and waiving returned payment/check fees, among others.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/16/20204/15/2020 - Duke Energy Renewables and Colorado Springs Utilities bring 60 megawatts of solar energy online
Duke Energy Renewables and Colorado Springs Utilities bring 60 megawatts of solar energy online
Source: PR Newswire
CHARLOTTE, N.C., April 15, 2020 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), and Colorado Springs Utilities (Springs Utilities) today announced the start of operation for a new solar energy generating facility, the Palmer Solar project.
Containing more than 220,000 solar panels on about 700 acres southeast of Colorado Springs, Colo., Palmer Solar will provide 60 megawatts of electricity to Springs Utilities' customers. That is enough electricity to power approximately 22,000 homes per year. This is the largest solar project contracted by Springs Utilities to date and the first solar project to interconnect with its transmission system.
Under a 20-year agreement, Springs Utilities will purchase the electricity Palmer Solar generates from Duke Energy Renewables. The project was acquired by Duke Energy Renewables from juwi Americas in May 2019. With this addition, Duke Energy Renewables has two solar projects in Colorado totaling more than 70 megawatts.
The project can be seen in this video.
"We're pleased to continue expanding our solar footprint in Colorado," said Rob Caldwell, president of Duke Energy Renewables. "The Palmer Solar project will support the renewable energy goals of Colorado Springs Utilities and allow them to reduce energy costs for their customers while lowering carbon emissions for the state."
"In light of our present challenges associated with COVID-19, our work continues to support our Energy Vision. We are steadfast in our mission to provide reliable and environmentally sustainable energy that reduces our carbon footprint," said Aram Benyamin, Springs Utilities CEO. "The Palmer Solar project is the latest example of how we are partnering with entities to change the way we power Colorado Springs, taking advantage of the economics and environmental benefits of solar power."
During peak construction, the Palmer Solar project employed as many as 200 individuals. It will also deliver property tax revenues of approximately $5.2 million throughout the life of the project to El Paso County.
Duke Energy is one of the nation's top renewable energy providers and owns, operates and contracts more than 8,000 megawatts of capacity.
Springs Utilities has increased its renewable resources from 19 megawatts to 114 megawatts in the past six months.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Colorado Springs Utilities
For generations, Colorado Springs Utilities has provided electricity, natural gas, water and wastewater services to the Pikes Peak region. As a community-owned utility, its customers enjoy competitive prices, exceptional hometown service, quality service and reliability and a voice in how their utility operates. Colorado Springs Utilities looks to expand its renewable energy portfolio to more than 260 megawatts and add a 25-megawatt energy storage facility by 2024. For more information, visit csu.org or follow the utility on Twitter and Facebook.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/15/20204/14/2020 - Duke Energy crews restore power to most of the nearly 600,000 customers impacted by major storm in Carolinas
Duke Energy crews restore power to most of the nearly 600,000 customers impacted by major storm in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., April 14, 2020 /PRNewswire/ -- Power restoration continued today as crews completed numerous repairs across North Carolina and South Carolina following the powerful wind and rain storm that plowed through the two states Sunday night and Monday morning.
Hundreds of individual residential power outages remain in remote, hard-to-access areas, as well as along rural roads and in city neighborhoods.
As of 5 p.m. today, Duke Energy crews had restored power to most of the nearly 600,000 total customers who lost power during the storm.
About 25,000 customers remained without power. Full power restoration is expected no later than Thursday.
Specific power restoration times are available on Duke Energy's online outage map duke-energy.com/outages/current-outages.
"I want to thank our customers for their patience and understanding as our employees and contractors worked to restore power during this challenging time," said Duke Energy storm director Jason Hollifield.
"There was nothing routine about this response. Crews in the field worked safely under coronavirus-related social distancing guidelines – supported by a virtual army of thousands of other teammates working remotely to deliver customer service, communications, supplies, logistics, safety measures and all the essential work it takes to mount a response equal to what normally occurs in-person during major storms," Hollifield said.
Additional crews reinforce power restoration work within COVID-19 guidelines
Throughout the response effort, Duke Energy has incorporated social distancing practices and other protective measures to help protect employees and customers. Responding to a major storm amidst the coronavirus pandemic has also created challenges for securing additional resources from out of state to assist response efforts in the Carolinas.
"This storm response comes at an unprecedented time for our nation as we also work to protect our communities," said Hollifield. "Securing additional resources from out of state has been a challenge, and our protective measures have implications for how we can stage, house and incorporate out-of-state power line and tree crews."
In addition to local crews working in communities across the state, Duke Energy was successful in securing more than 600 additional line and vegetation workers to assist with the response effort, including Duke Energy crews from Florida and the Midwest.
All incoming crews have been required to adhere to the same social distancing and protective measures, as well as screenings to help ensure work is conducted safely.
Screening protocols including health questionnaires, proactive reporting of possible exposures, removal from work and self-isolation.
Customers are asked to help crews work safely during this storm and every day by maintaining social distancing. Avoid approaching Duke Energy crews in the field or entering their work zone as they restore power; if you do need to speak with someone, be advised that employees will maintain at least six feet of separation.
Smart technology improving outage response
Duke Energy has been making grid improvements across the Carolinas and incorporating smart technologies to help crews in the field during outage restorations.
These technologies, including remote monitoring and line switches, as well as smart, self-healing systems helped to reduce the number and duration of power outages across the Carolinas during this wind event.
This smart-thinking grid technology can often restore power in less than a minute and can reduce the number of customers impacted by a power outage by as much as 75 percent.
Smart meters also continue to play an important role in outage response, helping improve outage detection and assisting crews in the field more quickly confirm when power has been restored to customers following a repair.
Most customers in the Carolinas are now served through a smart meter on their home or business. Duke Energy is installing self-healing technologies on its main power lines in both North Carolina and South Carolina and expects that most customers will be served by some form of this smart technology over the next few years.
Important safety reminders
The company provided the following reminders to customers:
Outage reporting
Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter and Facebook.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/14/2020Duke Energy crews restore power across Carolinas following major storm
Source: PR Newswire
CHARLOTTE, N.C., April 13, 2020 /PRNewswire/ -- Severe thunderstorms with high winds raced through North Carolina and South Carolina overnight Sunday into Monday morning, disrupting service to more than 500,000 customers. At 9:14 Monday morning, at the height of the storm, more than 325,000 customers were without power.
Duke Energy crews have restored power to 368,000 of the more than 500,000 customers impacted.
As of 4 p.m. today, 132,000 customers remained without power – 92,000 in North Carolina and 40,000 in South Carolina.
The hardest hit areas include Western North Carolina, where heavy rains and mud slides contributed to the damage, and Upstate South Carolina where a tornado was confirmed to have touched down in Oconee County.
Duke Energy crews continue to assess damage and make repairs, where possible. Damage assessment is an important part of overall restoration as it helps determine where the company will deploy its workers, equipment and other resources.
Additional information about repair efforts -- including estimated restoration times once determined -- will be available on Duke Energy's outage map no later than 8 p.m. tonight at duke-energy.com/outages/current-outages.
Customers who are registered for Duke Energy text alerts will receive a text once an estimated restoration time is established for their location.
Safely restoring power within COVID-19 guidelines
Duke Energy continues to adhere to coronavirus-related protective measures for power line crews and tree crews and asks that customers maintain social distancing. Avoid approaching Duke Energy crews in the field or entering their work zone as they restore power; if you do need to speak with someone, be advised that employees will maintain at least six feet of separation.
Some of the company's proactive measures to help reduce the spread of COVID-19 may impact the ability to move crews – across the state and from out of state – and provide overnight housing. All incoming crews will follow screening protocols including health questionnaires, proactive reporting of possible exposures, removal from work and self-isolation.
Important safety reminders
The company provided the following reminders to customers:
Tips for protecting refrigerated food during a power outage
For customers without power who have filled their refrigerators and freezers as part of their stay-at-home plans, the U.S. Food and Drug Administration (FDA) recommends the following tips:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage at www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods
Outage reporting
Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter and Facebook.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/13/2020Duke Energy preparing for high winds in Carolinas on Sunday and Monday; company encourages customers to prepare as well
Source: PR Newswire
CHARLOTTE, N.C., April 10, 2020 /PRNewswire/ -- A strong weather event will push through North Carolina and South Carolina beginning Sunday afternoon and continuing into Monday, bringing with it high winds and a strong potential for power outages.
Duke Energy is monitoring the storm's path and taking steps to prepare, while also continuing to adhere to coronavirus-related protective measures and social distancing guidelines in place for power line crews and tree crews, and other employees supporting the storm response effort.
"We know how important electricity is to customers at a time when so many are home all day, every day," said Duke Energy Carolinas storm director Jason Hollifield. "Add to that, this is an important holiday weekend and sacred time for many people. We will work to respond to power outages as quickly as they occur, recognizing we must also ensure the safety of our crews and the communities we serve through proper social distancing practices and other protective measures. We appreciate our customers' patience and support as we work to serve all of our customers in the Carolinas."
Important safety reminders
With high winds, come the threat of downed trees and, potentially, downed power lines. We encourage customers to plan now for what they will do if they experience an extended power outage:
Duke Energy protective measures
We are working hard to help ensure you have reliable power during this challenging time and will work to restore any outages that occur from this storm as quickly and safely as possible. We are focused on helping protect our employees, contractors and the communities we serve.
Tips for protecting refrigerated food during a power outage
We know that many customers may have stored up their refrigerators and freezers as part of their stay-at-home plans. The U.S. Food and Drug Administration recommends the following tips:
The FDA offers additional tips for proper food handling and storage before, during and after a power outage – https://www.fda.gov/food/buy-store-serve-safe-food/food-and-water-safety-during-power-outages-and-floods
Outage reporting
Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter and Facebook.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/10/2020Duke Energy to announce first-quarter 2020 financial results on May 12
Source: PR Newswire
CHARLOTTE, N.C., April 7, 2020 /PRNewswire/ -- Duke Energy will announce its first-quarter 2020 financial results at 7 a.m. ET on Tuesday, May 12, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss first-quarter 2020 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 800-458-4148 in the U.S. or 323-794-2093 outside the U.S. The confirmation code is 1555838. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 22, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 1555838. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
4/7/2020Duke Energy Foundation provides funds to North Carolina K-12 education organizations during COVID-19 crisis
Source: PR Newswire
CHARLOTTE, N.C., April 6, 2020 /PRNewswire/ -- The Duke Energy Foundation has announced $810,000 in grants to support North Carolina K-12 programs focused on summer reading loss and STEM and experiential learning.
Given the COVID-19 crisis, the Foundation has also provided each organization with the option to use the funds to address unforeseen operational challenges.
"The nonprofit community is essential to the well-being and success of our state," said Stephen De May, Duke Energy North Carolina president. "We are grateful for the work they do to serve our communities and want them to have some measure of flexibility during this time of uncertainty – it's the right thing to do."
According to a survey by the North Carolina Center for Nonprofits, 70% of the state's nonprofits that responded believe the financial burden of COVID-19 could affect the sustainability of their organization.
"As this pandemic spreads in our local communities, the demand for services provided by the nonprofit sector is growing at a rapid pace," said Jeanne Tedrow, president and CEO of North Carolina Center for Nonprofits. "The need for flexible funds from both corporate and private foundations is paramount, and maintaining a safety net is critical not only for today's response, but for the viability of our communities as we recover and rebuild."
Some nonprofits across the state are already feeling the impact and have indicated plans to use the funds for COVID-19 response.
"A private nonprofit, Marbles Kids Museum relies on admission and ticket sales, memberships and events to fund a large portion of our operating budget," said Sally Edwards, CEO of Marbles Kids Museum. "Since COVID-19 forced us to close the museum to the public, we've had to reduce staff and delay major projects. This flexible funding from Duke Energy helped us pivot to connect virtually with our community during closure and implement new sustainability practices to ensure we emerge from this crisis viable and ready to spark imagination, discovery and learning through play."
The following organizations have received grant awards.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/6/2020Duke Energy Florida takes action to reduce residential customer bills by nearly 21% in May during the COVID-19 pandemic
Source: PR Newswire
ST. PETERSBURG, Fla., April 2, 2020 /PRNewswire/ -- Duke Energy Florida today filed a plan to significantly reduce customers' bills for the May 2020 billing cycle, providing much-needed relief to customers during the COVID-19 pandemic.
To help residential and business customers now, the company is requesting approval from the Florida Public Service Commission to offer immediate assistance during this crisis by giving the annual fuel savings in a single bill.
Traditionally, these fuel savings would be refunded over the following year.
"We understand that during the COVID-19 pandemic many of our residential and business customers are facing financial challenges," said Catherine Stempien, Duke Energy Florida state president. "During these unprecedented times, we want to find creative solutions to provide relief and continue to work hard to deliver the best possible price for our customers."
If approved, a typical residential customer will see a decrease of nearly 21% on May's bill.
Commercial and industrial customers will see significant savings ranging from approximately 20% to 45%.
Individual electric bills vary greatly and depend on the amount of electricity used.
More Help for Customers
In March, Duke Energy announced it will not disconnect any customer's service for nonpayment, in order to give customers experiencing financial hardship extra time to make payments. The company will continue to read meters and send bills.
The company is also waiving late payment fees and fees for returned payments for its millions of electric and natural gas customers across its service territories beginning Saturday, March 21, until the national state of emergency is lifted. For residential customers, the company is also waiving fees for credit and debit card payments.
Customers should pay what they can to avoid building up a large balance that will be harder to pay off later.
Customers can also seek assistance through the Energy Neighbor Fund.
Additionally, customers with smart meters can log onto duke-energy.com or the Duke Energy app to closely monitor energy usage and make adjustments.
Customers can also use these 10 easy ways to make their home office more energy efficient.
For information on what Duke Energy is doing to assist customers and respond to the COVID-19 pandemic, visit dukeenergyupdates.com.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Cell: 813.928.7263 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/2/2020Duke Energy and Piedmont Natural Gas take new steps to help customers, communities and employees in wake of COVID-19
Source: PR Newswire
CHARLOTTE, N.C., March 19, 2020 /PRNewswire/ -- Duke Energy and Piedmont Natural Gas today announced a comprehensive set of steps to help customers, communities and employees manage the economic hardship caused by COVID-19.
"This is an unprecedented crisis that requires an unprecedented response," said Lynn Good, Duke Energy's chairman, president and CEO. "We hope the customers and communities we are privileged to serve – and the outstanding Duke Energy employees who serve them – will take some comfort from these actions."
More Help for Customers
The company will waive late payment fees and fees for returned payments for its millions of electric and natural gas customers across its service territories beginning Saturday March 21 until the national state of emergency is lifted. For residential customers, the company will also waive fees for credit and debit card payments.
Last week, Duke Energy said it would discontinue service disconnections for unpaid bills. That covers 7.8 million electric customers; plus, 1.8 million natural gas customers, many of whom are served by Piedmont Natural Gas.
"Our goal is to continue providing reliable service while helping our most vulnerable customers during this extraordinary time," Good said.
Community Assistance
The company also announced $1.3 million in donations by The Duke Energy Foundation to support hunger relief and help local health and human services nonprofits across its service territories, including those providing meals to children and families impacted by school closures. Given the unprecedented nature of the situation, Duke Energy is giving nonprofits the flexibility to use the funds where most needed.
Relief for Employees
To aid in providing continued service to our customers through this event, Duke Energy will also expand assistance to employees, in order to maintain the highest level of service to customers. This is part of the company's larger donation.
The company is providing five additional personal days off to employees who experience a disruption in dependent care due to school, daycare or other child-related care – as most all schools are not in session. Duke Energy will also provide a $1,500 stipend to assist with unplanned expenses resulting from costs related to COVID-19 issue.
As part of the company's larger donation, for Duke Energy employees, the company is donating $100,000 to the Relief4Employees program, which is a fund that employees can draw on for short term financial help during times of personal need.
Continued service to customers
The company will continue to read meters in most areas and send bills. Customers should pay what they can to avoid building up large balances that will be more difficult to pay off later.
Duke Energy power plants, electricity and natural gas delivery facilities and call centers, are staffed, ensuring dependable service to customers. The company will continue to respond to power outages and other emergencies.
Customers should download the company's mobile app or visit duke-energy.com or piedmontng.com for information and most service transactions. Customers who are unable to self-serve can still contact the company:
Duke Energy
Duke Energy (NYSE: DUK) is headquartered in Charlotte, N.C. It employs 29,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants.
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
3/19/2020Piedmont Natural Gas bills to significantly decrease for Tennessee customers
Source: PR Newswire
CHARLOTTE, N.C., March 11, 2020 /PRNewswire/ -- Piedmont Natural Gas has received approval from the Tennessee Public Utility Commission to significantly decrease natural gas rates for all customers in its Tennessee service territory. The decrease is effective immediately and will be reflected in customers' March 2020 bills.
"Piedmont continuously looks for ways to bring more value to our customers, whether it's through exceptional customer service, innovative products and services, or lower costs," said Piedmont Natural Gas Senior Vice President Sasha Weintraub. "And now as natural gas prices continue to decrease, we are pleased to pass these savings along and further add to the many benefits natural gas brings to our customers' homes and businesses."
Piedmont's natural gas rates for customers in Tennessee are now at a record low compared to the last 15 years. This is the second rate decrease the company has enacted in the past 12 months.
Compared to one year ago, the benefit of these rate reductions for the average residential customer will be a savings of approximately 20%, which translates to a savings of around $167 per year, or about $14 per month. Commercial and industrial customers also will see a savings of approximately 20% compared to a year ago.
Piedmont's bill has multiple rate components, one of which is the commodity cost of natural gas. Piedmont requests periodic rate adjustments to reflect changes in the commodity cost of natural gas because, by law, Piedmont must pass through to customers the actual commodity cost on a dollar-for-dollar basis.
Piedmont remains focused on Tennessee storm victims
While this rate decrease is driven by the decreasing cost of natural gas, it comes at a time when many Piedmont Natural Gas customers in Tennessee are recovering from the tornado that hit the area March 3. Piedmont has committed $200,000 to organizations helping Nashville and Mount Juliet residents recover.
Piedmont also said it would provide flexible bill payment arrangements for customers experiencing financial hardship due to the storm. Customers who need assistance or who have questions can call Piedmont Natural Gas at 800.752.7504 to speak with a customer service representative. Visit this link for additional details.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in Tennessee, North Carolina and South Carolina. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I Media line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Duke Energy
Article Date
3/11/2020Duke Energy awards $28,500 to six Indiana economic development groups for its Foreign Direct Investment Partnership Program
Source: PR Newswire
PLAINFIELD, Ind., Feb. 27, 2020 /PRNewswire/ -- Duke Energy has awarded a total of $28,500 to six Indiana economic development organizations to receive Foreign Direct Investment Partnership Program grants. Each organization was awarded up to $5,000.
"We have to cultivate successful relationships with overseas customers to encourage them to invest in our Indiana cities and regions," said Erin Schneider, Indiana director of economic development for Duke Energy. "These grants will help supply funds for print or electronic collateral, sales trip coordination fees and marketing initiatives and materials."
Grant funding does not include travel, lodging, food and beverage and entertainment expenses.
The six regional organizations receiving the 2020 grants include:
About Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/27/2020Duke Energy reports fourth-quarter and year-end 2019 financial results
Source: PR Newswire
CHARLOTTE, N.C., Feb. 13, 2020 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its fourth-quarter and year-end 2019 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-204-4368 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 9324332. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Feb. 23, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 9324332. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
2/13/20202/7/2020 - Duke Energy restores power to 380,000 Carolinas customers following powerful two-day storm
Duke Energy restores power to 380,000 Carolinas customers following powerful two-day storm
Source: PR Newswire
CHARLOTTE, N.C., Feb. 7, 2020 /PRNewswire/ -- Duke Energy crews have restored power to more than 380,000 of the nearly 461,000 customers impacted by a powerful two-day storm that included tornadoes, heavy winds and record rainfall across the Carolinas.
A total of 49,000 customers – 37,000 in North Carolina and 12,000 in South Carolina – remained without power as of 5:30 p.m. today.
The latest outage numbers can be found here on the company's outage map.
More than 4,600 Duke Energy workers and contractors are making repairs across a wide area of the two-state region.
Due to the severity of damage to Duke Energy's utility poles and power lines – mostly caused by wind-driven downed trees – power restoration work in the hardest-hit areas is expected to continue through the weekend.
Estimated power restoration times are available on the company's outage map as those estimates become available. County-level restoration times represent the latest times customers can expect to have power restored. Zooming in on a specific location will provide specific power restoration information, as available.
Crews are replacing more than 400 damaged utility poles, as well as damaged power lines and transformers throughout the region.
In Kings Mountain, N.C., powerful winds toppled four large power transmission towers – video link. More than 150 workers today began replacing the heavily damaged steel structures.
North Carolina's hardest-hit counties include Durham, Franklin, Mecklenburg, Orange, and Wake. South Carolina's hardest-hit counties include Anderson and Spartanburg.
"We greatly appreciate our customers' patience as our crews work as quickly as possible to safely restore power," said Jason Hollifield, Duke Energy's incident commander for the Carolinas. "This was an intense and highly destructive storm that coupled strong, fast-moving winds with heavy rainfall."
Both Charlotte and Greenville-Spartanburg, S.C., set all-time February records for most rainfall in a 24-hour period: 3.16 inches in Charlotte and 5.36 inches in Greenville-Spartanburg.
Drivers urged to use caution near repair crews
North Carolina and South Carolina laws require drivers to slow down and move their vehicles over as far as safely possible when approaching and passing roadside utility crews making power line repairs.
The laws also apply when drivers approach and pass roadside ambulances and other emergency responders. Violators could face fines.
Safety reminders, power line dangers
Duke Energy also urges customers to focus on general safety – duke-energy.com/safety-and-preparedness/storm-safety
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Duke Energy (NYSE: DUK) is headquartered in Charlotte, N.C. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: 800.559.3853
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SOURCE Duke Energy
Article Date
2/7/2020Duke Energy statement on coal ash settlement approval
Source: PR Newswire
CHARLOTTE, N.C., Feb. 5, 2020 /PRNewswire/ -- Duke Energy today issued the following statement after receiving final approval of the company's agreement with the state regulator and the environmental community on how to permanently close all remaining ash basins in North Carolina. North Carolina Superior Court Judge Paul Ridgeway approved, and entered into the record, a consent order offered by the company, North Carolina Department of Environmental Quality and the Southern Environmental Law Center representing a number of community groups. The order details many of the provisions in the settlement agreement reached by the parties on December 31, 2019 and resolves the pending legal disputes over ash basin closure plans.
---
We are very pleased to bring this matter to a close and fully focus on building the cleaner energy future our customers want and deserve. The landmark agreement between Duke Energy, the environmental regulator and environmental community enjoys support across North Carolina and serves as a powerful example of what's possible when we work together to protect people and the environment while managing costs.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/5/2020Duke Energy Renewables' largest Texas solar project now online
Source: PR Newswire
CHARLOTTE, N.C., Jan. 30, 2020 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), announced that its 100-megawatt (MW-alternating current) Lapetus Solar project in Andrews County, Texas, began commercial operation in December 2019.
It is Duke Energy's second solar project in commercial operation in Texas and the first large-scale solar project in Andrews County.
"Texas ranks fourth in the country for solar energy. We're thrilled that Lapetus Solar is now online and will contribute to the growth of the community's clean energy facilities," said Rob Caldwell, president, Duke Energy Renewables.
The project, which Duke Energy Renewables acquired from 7X Energy in February 2019, employed as many as 240 individuals during the peak construction period. It contains over 340,000 solar panels and is located on approximately 800 acres outside of Andrews, Texas.
"7X originated and developed the Lapetus Solar project, and we are proud to help bring Andrews County its first large-scale solar project," said Clay Butler, president and CEO of 7X Energy. "We are grateful to Andrews County for welcoming solar to the local community and the economic benefits it brings."
The energy generated from the Lapetus Solar project will be delivered to the ERCOT grid and is being sold under three multiyear power purchase agreements (PPA) to Brazos Electric Power Cooperative Inc. on behalf of CoServ Electric and seven other distribution cooperative members.
The facility's design, procurement of PV modules, inverters, balance of plant systems, and construction of the project were performed by Swinerton Renewable Energy. Duke Energy Renewables completed project development, managed the construction of the project and will operate and manage the facility.
In addition to the Lapetus Solar project in Andrews County, in 2019 Duke Energy Renewables announced the acquisition of the 200-MW(ac) Holstein Solar project in Nolan County and the 200-MW(ac) Rambler Solar project in Tom Green County, Texas. Both projects will be in commercial operation by mid-2020.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by the end of 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
7X Energy
7X Energy (7X), founded in 2016 and headquartered in Austin, Texas, is a leading developer in the solar industry that has originated and developed approximately 1,500 megawatts of solar projects either under construction or operational across the U.S. The company is independently owned and consists of a diverse team of seasoned industry veterans, with over 10,000 megawatts of collective utility-scale development expertise.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980.373.0668
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/30/2020Duke Energy earns top marks in 2020 Corporate Equality Index
Source: PR Newswire
CHARLOTTE, N.C., Jan. 29, 2020 /PRNewswire/ -- Duke Energy has received a perfect score for the third year in a row on the Human Rights Campaign's 2020 Corporate Equality Index, a national benchmarking study that annually ranks companies on LGBTQ-friendly corporate practices and policies.
Duke Energy's score of 100% earned the company inclusion on the organization's list of "Best Places to Work for LGBTQ Equality."
The 2020 Corporate Equality Index rates employers based on criteria in five categories: non-discrimination policies, benefits, organizational competency and accountability around LGBTQ inclusion, public commitment and citizenship.
Duke Energy is one of only four companies headquartered in the Charlotte region to achieve a perfect score.
"Our communities, customers and workforce are more diverse than ever before," said Joni Davis, Duke Energy's vice president and chief diversity and inclusion officer. "We pay a lot of attention to how it feels to work at Duke Energy. Everyone here has a role in ensuring our work environment is inclusive and enriching. We are honored to be recognized in this capacity."
Among the policies and practices in place at Duke Energy are anti-discrimination training, equal health coverage for transgender individuals, philanthropic giving to support the LGBTQ community, and an employee resource group whose mission is to promote LGBTQ inclusion.
The We Are One for LGBT Equality employee resource group has nearly 500 members, and is supported by the company's senior leadership. Learn more on illumination.
To read the Human Rights Campaign's full report, visit hrc.org.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Shawna Berger
Office: 704.382.4213
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/29/2020Duke Energy Florida announces 2 new solar power plants, 2 others completed
Source: PR Newswire
ST. PETERSBURG, Fla., Jan. 27, 2020 /PRNewswire/ -- Duke Energy Florida (DEF) today announced the locations of its two newest solar power plants which will provide cleaner, smarter energy solutions to benefit Florida customers.
Both solar power plants will be developed, owned, operated and maintained by Duke Energy Florida and are expected to break ground in March 2020. Completion is currently scheduled for late 2020.
"Our two newest solar power plants in Hamilton and Columbia counties are expected to eliminate approximately 600 million pounds of carbon dioxide emissions in Florida each year upon commercial operation. That's the equivalent of taking about 56,000 passenger cars off the road each year," said Catherine Stempien, Duke Energy Florida state president. "We are committed to environmental stewardship and more fuel diversity for our Florida customers' benefit."
During construction each solar project creates 200 to 300 temporary jobs.
"Columbia County is excited to partner with Duke Energy on this solar project that is not only promoting green energy, but also bringing jobs and capital investment into our community," said Columbia County economic development director Glenn Hunter. "Additionally, Duke Energy's investment into the hundreds of acres of rural farmland in Columbia County is significant to preserve the integrity of our land and development as we move into the future."
Building A Smarter Energy Future®
Additionally, Duke Energy Florida completed two solar facilities last month.
The Lake Placid Solar Power Plant in Highlands County, Fla. began serving customers Dec. 9, 2019. The facility is 45 MW, which is enough to power more than 12,000 homes at peak production. Click here for video
The Trenton Solar Power Plant in Gilchrist County, Fla. began serving customers Dec. 18, 2019. The facility is 74.9 MW, which is enough to power more than 23,000 homes at peak production. Click here for video
Solar Projects Under Construction
Duke Energy Florida is building another 74.9 MW with the Columbia Solar Power Plant in Columbia County, Fla., anticipated to begin servicing customers in April 2020.
The DeBary Solar Power Plant is under construction in Volusia County, Fla. and will bring another 300,000 solar panels to Florida with service beginning in June 2020.
Duke Energy Florida is increasingly delivering cleaner energy to customers with a total of almost 370 MW of solar under construction or in service by mid-2020.
The Company is investing an estimated $1 billion to construct or acquire a total of 700 MW of cost-effective solar power facilities from 2018 through 2022 in Florida, and planning for another 1,500 MW of solar generation through 2028.
Duke Energy Florida is encouraging renewable investments within the state. By buying existing solar projects and using a competitive process to select DEF solar contractors, solar panels and project material suppliers, the company's solar power plants bring the greatest amount of dependable renewable energy on line for customers in the most efficient and economical way while creating more jobs in the solar and energy-related markets.
Over the next decade, the company will continue to make innovative and targeted investments in additional solar power plants, battery storage technology, shared solar, transportation electrification and a modernized power grid to help meet customers' needs for diverse, reliable energy solutions.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2020 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/27/20201/21/2020 - Duke Energy named one of Fortune's 'World's Most Admired Companies' for third consecutive year
Duke Energy named one of Fortune's 'World's Most Admired Companies' for third consecutive year
Source: PR Newswire
CHARLOTTE, N.C., Jan. 21, 2020 /PRNewswire/ -- After a year in which the company continued providing cleaner energy to its customers, shifting to more flexible, low- and no-carbon sources while maintaining high reliability and rates below the national average, Duke Energy (NYSE: DUK) has been named to Fortune magazine's 2020 list of the World's Most Admired Companies for the third year in a row. Duke Energy was ranked 5th among gas and electric utilities.
"We're making a smarter energy future a reality for our customers and communities," said Lynn Good, Duke Energy's chairman, president and CEO. "As we transform the customer experience, we're making significant investments in the energy grid and cleaner generation to deliver even greater value to customers and shareholders in the years ahead."
In determining the industry rankings, executives, directors and industry analysts are independently surveyed and companies are rated on nine attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products/services and global competitiveness.
Recent company performance highlights
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/21/2020Duke Energy Renewables acquires 20 MWac of solar projects in Georgia
Source: PR Newswire
CHARLOTTE, N.C., Jan. 15, 2020 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), today announced that it has completed the acquisition of the final project in a portfolio developed with Inman Solar Inc., totaling 20 megawatts (MWac).
The projects are in construction or have begun commercial operations across central Georgia under Georgia Power's Renewable Energy Development Initiative (REDI).
These projects bring Duke Energy Renewables, operating through its REC Solar business unit, to 47.4 MWac of distributed solar projects in Georgia.
"We're excited to acquire another portfolio of solar projects in Georgia," said Chris Fallon, vice president of Duke Energy Renewables. "This transaction was successful because of our strong relationship with Georgia Power and a dependable, expert developer and build partner in Inman Solar."
Duke Energy Renewables' distributed generation arm, REC Solar, led the acquisition and construction management on behalf of Duke Energy. Duke Energy Renewables, REC Solar and Inman have worked on numerous projects in multiple states over the last three years.
The nine solar projects are expected to contribute $11.5 million in leasing and taxes to local communities. A total of 81,060 solar panels will be used in the projects. The last site is expected to reach commercial operations by the end of March.
Each project was developed under an engineering, production and procurement agreement between REC Solar and Inman and a 30- or 35-year power purchase agreement with Georgia Power, selling all energy and renewable attributes to Georgia Power as a part of its REDI Distributed Generation RFP program.
"Inman is very pleased to work with Duke Energy Renewables and REC Solar on another set of projects," said Dan Fossitt, president, Inman Solar. "We are proud to do additional projects in Georgia Power's REDI program. It's invaluable to have reliable finance partners in Duke Energy Renewables and REC Solar who understand development and can work with us to manage logistics and efficiently get to funding."
The nine projects in the portfolio include:
Project | MWac | County |
Apalachicola | 2.5 | Richmond |
Arnold Cochran | 1.725 | Bleckley |
Columbia Substation | 1.95 | Columbia |
Coody Cochran | 2.6 | Bleckley |
Fountain Folkston | 2.1 | Charlton |
Harris Shiloh | 2.1 | Harris |
Polk Cedartown | 2.2 | Polk |
Shawnee | 2 | Burke |
Westberry Jesup | 2.6 | Wayne |
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by the end of 2020.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. REC Solar is a business unit of Duke Energy Renewables. Visit Duke Energy Renewables and REC Solar for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Inman Solar
Inman Solar is a Southeast-based company that specializes in developing, designing and installing commercial and utility-scale solar photovoltaic systems. Inman Solar is an experienced turnkey provider, handling everything from project management to engineering and financial analysis. Inman Solar has built over 112 MW of commercial solar photovoltaic systems throughout the US, specializing in the Southeast. Inman's customers are business owners and investors, and we focus on helping them capture incentives that make solar a smart business investment. In addition to system engineering design and build, Inman owns and operate several solar assets. Inman is certified by the National American Board of Certified Energy Practitioners.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions.
These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Jennifer Garber, Duke Energy
Office: 980.373.0668 | 24-Hour: 800.559.3853
Dan Fossitt, Inman Solar
Office:800.899.5261
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SOURCE Duke Energy
Article Date
1/15/2020Duke Energy offers tips to trim energy use in the new year
Source: PR Newswire
CHARLOTTE, N.C., Jan. 10, 2020 /PRNewswire/ -- If saving money made your New Year's resolution list, start by cutting your energy use, to save money year-round. With some simple lifestyle tweaks, you can trim your energy usage and help keep your 2020 budget in check.
Here are ways to monitor and cut your energy use this winter and also avoid billing surprises:
7 ways to cut your energy costs
5 tips to help manage and understand your bills
For more information on simple ways to avoid energy bill surprises this winter, click here.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/10/20201/8/2020 - Smithfield Foods Generates Renewable Natural Gas from Wastewater to Power North Carolina Communities
Smithfield Foods Generates Renewable Natural Gas from Wastewater to Power North Carolina Communities
Source: PR Newswire
SMITHFIELD, Va., Jan. 8, 2020 /PRNewswire/ -- Smithfield Foods, Inc., in partnership with Duke Energy and OptimaBio, LLC, is now producing renewable natural gas (RNG) from the wastewater treatment system at its Tar Heel, N.C. pork processing facility, which will help power more than 2,000 local homes and businesses. The three companies are utilizing the world's largest pork processing facility to provide renewable energy to consumers while reducing their own, and the state of North Carolina's, carbon footprint.
The $14 million project is the latest from Smithfield Renewables, Smithfield's platform to unify and accelerate its efforts to reduce greenhouse gas (GHG) emissions 25% by 2025. Through partnership with Duke Energy, roughly 140,000 dekatherms of RNG per year will be transported to natural gas plants and used to generate electricity for consumers.
"This project brings to life all three of our company's guiding principles – Responsibility, Operational Excellence, and Innovation," said Kenneth M. Sullivan, president and chief executive officer for Smithfield Foods. "For the first time, we are creating renewable energy from the biogas generated in our wastewater treatment system and using it to power local communities. With the help of our partners, we are producing additional value for our company and our neighbors—a concept that is ingrained in our culture."
To date, this is one of Smithfield's largest renewable energy projects involving wastewater, and its first in North Carolina. Smithfield also has "wastewater-to-energy" projects at its Milan, Mo.; Grayson, Ky.; and Sioux Falls, S.D. facilities, which are used to power their modified steam boilers.
The company's Tar Heel, N.C., project utilizes a gas upgrading and injection system operated by OptimaBio, LLC, a bioenergy project developer, which leverages the facility's three million gallon-per-day wastewater treatment system to collect and clean biogas through an existing on-site digester and convert it into RNG.
"We are proud to partner with Smithfield on this project, which has far-reaching and positive impacts for the environment, the local community, and industries that are key to the state's economy," said Mark Maloney, CEO and Founder at OptimaBio, LLC. "We're helping diversify and strengthen North Carolina's renewable energy portfolio through this endeavor."
Once converted, the RNG is injected into the Piedmont Natural Gas system, and then transported to Duke Energy to produce electricity. This project will help Duke Energy satisfy state swine waste-to-energy mandates under the Renewable Energy and Energy Efficiency Portfolio Standard law in North Carolina. Under this law, Duke Energy must generate 0.20% of its retail sales from swine waste by 2024.
"At Duke Energy, we are seeking innovative and cleaner energy solutions. Buying the output from Smithfield's renewable natural gas project will allow us to expand our diverse generation mix in North Carolina," said Stephen De May, Duke Energy's North Carolina president. "This project is creating safe and affordable energy that customers can rely on."
In addition to creating renewable energy at its facilities, Smithfield is implementing projects on its farms that transform manure into RNG. These projects capture methane from manure, and clean and convert it into RNG, which is then injected into local natural gas distribution systems for homes and businesses. In the next decade, Smithfield is implementing "manure-to-energy" projects in at least six states including Arizona, California, Missouri, North Carolina, Utah, and Virginia.
Whether using biogas to power its facilities or nearby communities, these programs are part of Smithfield's robust sustainability program. To learn more, visit smithfieldfoods.com/sustainability.
About Smithfield Foods
Headquartered in Smithfield, Va., since 1936, Smithfield Foods, Inc. is an American food company with agricultural roots and a global reach. Our 40,000 U.S. employees are dedicated to producing "Good food. Responsibly.®" and have made us one of the world's leading vertically integrated protein companies. We have pioneered sustainability standards for more than two decades, including many industry firsts, such as our ambitious commitment to cut our carbon impact by 25 percent by 2025. We believe in the power of protein to end food insecurity and have donated hundreds of millions of food servings to our neighbors in need. Smithfield boasts a portfolio of high-quality iconic brands, such as Smithfield®, Eckrich®, and Nathan's Famous®, among many others. For more information, visit www.smithfieldfoods.com, and connect with us on Facebook, Twitter, LinkedIn, and Instagram.
About Smithfield Renewables
Smithfield Renewables is a strategic platform within Smithfield Foods, a $15 billion global food company, and the world's largest hog producer and pork processor. Smithfield launched this platform in 2017 to lead, unify, and accelerate the company's renewable energy efforts to help meet its industry-leading goal to reduce greenhouse gas (GHG) emissions 25% by 2025—the first commitment of its kind by a protein company. To achieve this goal, Smithfield has implemented a wide range of projects across its farms and facilities, including converting hog manure into renewable natural gas and commercial-grade fertilizer, streamlining its transportation network, launching an ambitious solid waste reduction plan, sourcing sustainably grown feed grain, and implementing operational efficiency projects. For more information, visit www.smithfieldfoods.com/renewables.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
OptimaBio
Headquartered in Raleigh, N.C., OptimaBio is a swine waste-to-energy project developer, owner and operator and the leader in RNG development for North Carolina. It's a partnership bringing together experts in bioenergy, agriculture, project finance, and environmental stewardship to invest in rural communities for the greater good. pig.energy
Contact Information:
Lisa Martin
Smithfield Foods, Inc.
(757) 365-1980
lvmartin@smithfield.com
Randy Wheeless
Duke Energy
(704) 382-8379
Randy.wheeless@duke-energy.com
Mark Maloney
OptimaBio
(910) 632-0752
mark@pig.energy.com
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SOURCE Duke Energy; Smithfield Foods, Inc.; OptimaBio
Article Date
1/8/2020Duke Energy to announce fourth-quarter and year-end 2019 financial results on Feb. 13
Source: PR Newswire
CHARLOTTE, N.C., Jan. 7, 2020 /PRNewswire/ -- Duke Energy will announce its fourth-quarter and year-end 2019 financial results at 7 a.m. ET on Thursday, Feb. 13, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss fourth-quarter 2019 financial results. In addition, the company will provide its 2020 adjusted diluted earnings per share guidance range and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-204-4368 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 9324332. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Feb. 23, 2020, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 9324332. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
1/7/20201/6/2020 - Duke Energy Renewables' 200-MW Mesteño Windpower project in Texas begins producing energy
Duke Energy Renewables' 200-MW Mesteño Windpower project in Texas begins producing energy
Source: PR Newswire
CHARLOTTE, N.C., Jan. 6, 2020 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), announced that its 200-megawatt (MW) Mesteño Windpower project in Starr County, Texas began commercial operation on Dec. 31, 2019. It is Duke Energy's fourth wind generation facility in Starr County and its eleventh in Texas.
The project's output will be sold into the ERCOT market and Duke Energy Renewables has entered into a long-term hedge agreement covering the majority of the expected wind energy production.
Mesteño contains turbines 590.5 feet tall – some of the tallest wind turbines in the United States. The tall tower turbines harness stronger winds, which result in an increase in wind energy production.
"We're excited to bring another wind project online in Texas and plan to continue investing in renewable energy in the state," said Rob Caldwell, president of Duke Energy Renewables. "This project will deliver clean energy and significant economic benefits."
During peak construction, the wind project created approximately 200 jobs. It will also deliver more than $16 million in tax revenue over the first 10 years of its operation.
Vestas supplied 56 3.6-MW turbines for the site.
"We're pleased to expand our tall tower technology and V136-3.6 MW platform," said Chris Brown, president of Vestas' sales and service division in the United States and Canada. "The combination of taller towers and V136-3.6 MW technology is perfectly designed to extract the abundant resource at the site, and deliver low-cost, reliable energy to the community and customer."
The 200-MW Mesteño wind facility will produce enough energy to power about 60,000 average homes.
Amshore US Wind provided development support for the project, and Wanzek Construction is the contractor.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by the end of 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980-373-0668 | 24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
1/6/2020Duke Energy declares dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., Jan. 3, 2020 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.945 per share payable on March 16, 2020, to shareholders of record at the close of business Feb. 14, 2020.
The company also declared a quarterly cash dividend on its Series A preferred stock of $359.375 per share payable on March 16, 2020, to shareholders of record at the close of business Feb. 14, 2020. This is equivalent to $0.359375 per depositary share.
In addition, the company declared the initial cash dividend on its Series B preferred stock of $24.9167 per share payable on March 16, 2020, to shareholders of record at the close of business Feb. 14, 2020. Dividends on the Series B preferred stock will be payable semi-annually when and if declared by the company's board of directors.
Duke Energy has paid a cash dividend on its common stock for 94 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Bryan Buckler
704.382.2640
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SOURCE Duke Energy
Article Date
1/3/2020Duke Energy, North Carolina regulators and environmentalists reach agreement to permanently close all remaining ash basins in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Jan. 2, 2020 /PRNewswire/ -- In a major achievement that puts the coal ash debate to rest in North Carolina, state regulators, community groups and Duke Energy have agreed to a plan to permanently close the company's remaining nine coal ash basins in the state, primarily by excavation with ash moved to lined landfills.
The agreement announced today by Duke Energy, North Carolina's Department of Environmental Quality (NCDEQ) and groups represented by the Southern Environmental Law Center (SELC) details a reasonable and prudent plan for basin closure that continues to protect people, communities and the environment with a keen focus on investing for the future and our shared clean energy vision. This plan is consistent with the approach Duke Energy is taking to close ash basins in South Carolina and benefits customers and communities in both states.
"This agreement significantly reduces the cost to close our coal ash basins in the Carolinas for our customers, while delivering the same environmental benefits as full excavation," said Stephen De May, North Carolina president, Duke Energy. "We are fully focused on these important activities and building a clean energy future for the Carolinas."
Under the agreement, seven of the basins will be excavated, with ash moved to lined landfills, including two at the Allen Steam Station (Belmont, N.C.), one at Belews Creek Steam Station (Belews Creek, N.C.), one at Mayo Plant (Roxboro, N.C.), one basin at the Roxboro Plant (Semora, N.C.) and two at the Cliffside/Rogers Energy Complex (Mooresboro, N.C.).
At the Marshall Steam Station (Terrell, N.C.) and the Roxboro Plant, uncapped basin ash will be excavated and moved to lined landfills. At both locations, sections of the basins were filled with ash in the past. To make use of that space, state permitted facilities, including existing lined landfills, were built on top of those portions of the ash basins. Because the ash underneath is already covered, that material will not be disturbed and will be monitored and safely closed under other state regulations.
Under the plan, almost 80 million tons of ash will be excavated from the remaining sites. The company is already removing ash from basins at other facilities, bringing the total amount of material to be excavated in North Carolina to approximately 124 million tons.
The agreement calls for expedited state permit approvals which would keep projects on a rapid timeline with excavation at the six sites completed in 10 to 15 years.
Managing cost
This plan will reduce the total estimated cost to close the nine basins by about $1.5 billion, as compared to the April 1, 2019 NCDEQ order requiring full excavation. As a result, the estimated total undiscounted cost to permanently close all ash basins in the Carolinas is now approximately $8 billion to $9 billion, of which approximately $2.4 billion has been spent through 2019. Most of the remaining expenditures are expected to occur over the next 15-20 years.
Protecting groundwater
The agreement also ensures that impacted groundwater is addressed and includes provisions to streamline the process for this important work. Drinking and recreational water supplies are safe now, and Corrective Action Plans will address groundwater at each site to ensure those supplies remain protected.
At Roxboro and Marshall, for example, Duke Energy will install specialized wells and other technology at specific locations to ensure that groundwater conditions improve and comply with standards by 2029, assuming plans are expeditiously approved by the state.
Promoting recycling
As previously announced, Duke Energy is closing all of its coal ash basins, including 31 in North Carolina. Basin excavation is completed or nearly completed at 10 basins at the Asheville Plant, Dan River Plant (Eden, N.C.), Riverbend Steam Station (Mt. Holly, N.C.), Sutton Plant (Wilmington, N.C.), Weatherspoon Plant (Lumberton, N.C.) and one basin at the Rogers Energy Complex. That material is being recycled or disposed of in lined landfills.
Material from 12 basins at Buck Steam Station (Salisbury, N.C.), HF Lee Plant (Goldsboro, N.C.) and Cape Fear Plant (Moncure, N.C.) will be reprocessed and recycled into useful construction material. Recognizing that recycling is the only way to avoid permanent disposal of ash, the parties agree to explore opportunities to maximize recycling at those sites by extending closure deadlines to 2035.
Resolves litigation
The agreement completely resolves the pending disputes over ash basin closure plans being debated by the parties in various courts, including cases before the North Carolina Office of Administrative Hearings, North Carolina Superior Court and United States District Court for the Middle District of North Carolina. The parties will make the necessary court filings to dismiss each case.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/2/202012/19/2019 - Duke Energy Florida files for recovery of costs associated with powerful Category 5 Hurricane Dorian
Duke Energy Florida files for recovery of costs associated with powerful Category 5 Hurricane Dorian
Source: PR Newswire
ST. PETERSBURG, Fla., Dec. 19, 2019 /PRNewswire/ -- Duke Energy Florida today filed with the Florida Public Service Commission to recover costs related to the company's storm response to Hurricane Dorian, as well as the smaller Tropical Storm Nestor, both in 2019.
Storm costs are estimated to be $171 million for Hurricane Dorian and $400,000 for Tropical Storm Nestor.
Hurricane Dorian, which peaked as a Category 5 storm, initially was predicted to batter much of heavily populated Florida, potentially cutting electricity to millions of people.
Mobilizing and strategically positioning a large number of power line repair crews prior to a major hurricane is critical to restoring power to impacted customers as quickly as possible after the storm.
In advance of Hurricane Dorian, between Aug. 28 and Aug. 30, Duke Energy Florida deployed approximately 7,800 employees and contractors to support power restoration work.
Residential customers will see an increase of $5.34 per 1,000 kWh of electricity on a typical monthly bill, starting in March 2020 and continuing for an additional 11 months.
Commercial and industrial customers will see an increase between 2.6% and 7.7%. However, the specific bill impact on individual businesses will vary, based on several factors.
The Florida Public Service Commission will review the costs and determine the final amount to be recovered in a subsequent proceeding next year.
Duke Energy Florida is already using a combined $675 million in savings from the 2017 Tax Cuts and Jobs Act (TCJA) to cover restoration costs for hurricanes Irma, Nate and Michael, and to replenish its hurricane reserve fund. This approach saves residential customers nearly $12 per 1,000 kWh of electricity on a typical monthly bill.
"We've seen an increase in frequency and intensity of extreme weather events," said Catherine Stempien, Duke Energy Florida state president. "We're working hard to strengthen our electric grid while minimizing impacts to customer bills."
Hurricane Dorian produced sustained winds of 185 miles per hour and gusts over 200 miles per hour when it made landfall in the Bahamas. The storm killed approximately 60 people in the Bahamas and caused an estimated $7 billion in damage.
With Hurricane Dorian's "cone of uncertainty" blanketing the entire state, Florida declared a state of emergency for all counties. Approximately 150 general and special needs shelters opened and 16 counties issued evacuation orders.
Although the eye of Hurricane Dorian came within 95 miles of Florida's heavily populated Atlantic coast, the state was spared the worst.
Sustained winds associated with the storm reached upwards of 60 miles per hour along Florida's Atlantic coastline, and tropical storm-force winds reached inland to Central Florida.
Hurricane Dorian ultimately cut power to about 24,000 Duke Energy Florida customers, most of them in Central Florida.
Building A Smarter Energy Future®
Duke Energy Florida's commitment to grid improvements to enhance reliability, security and resilience while adding more solar power is making a difference in reducing customer outages and providing cleaner energy.
Vegetation related events have decreased by 15% since 2014, The System Average Interruption Duration Index, which is the amount of time the average customer experiences a sustained outage, has decreased by 7% since 2014. And year-to-date, Duke Energy Florida's self-optimizing grid has avoided more than 144,000 customer outages and saved approximately 9.7 million minutes of customer interruptions.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/19/2019Duke Energy provides nearly $300,000 in grants to support species protection, water resources, pollinator programs in Florida
Source: PR Newswire
ST. PETERSBURG, Fla., Dec. 13, 2019 /PRNewswire/ -- The Duke Energy Foundation has awarded more than a quarter-million dollars to 15 nonprofit organizations committed to protecting and restoring Florida's vital natural resources.
The grants will fund programs that protect and rehabilitate Florida wildlife, as well as conserve and restore native habitats. The grants also will fund water quality and pollinator studies that increase biodiversity and help preserve Florida's natural resources.
"Protecting, restoring and rehabilitating Florida's environmental resources and native species enables our communities to thrive," said Catherine Stempien, Duke Energy Florida state president. "We're proud to partner across the state with organizations that share our commitment to the environment, while we continue to provide reliable service in a sustainable way."
This year's grant recipients are:
"Thanks to the support of Duke Energy, Clearwater Marine Aquarium is able to continue the extraordinary work done through our Sea Turtle Conservation Program," said David Yates, Clearwater Marine Aquarium CEO. "We're proud to have a partner that values our mission and works to build a better environment for future generations."
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. It has invested $2.8 million in 181 Florida nonprofits this year. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
12/13/2019A bright idea: Duke Energy helps customers estimate the cost of holiday lighting
Source: PR Newswire
CHARLOTTE, N.C., Dec. 12, 2019 /PRNewswire/ -- Holiday lights are going up all across the country, bringing bright colors and welcome cheer. But if you wonder how much your energy bill will go up, Duke Energy has the solution.
To help customers plan and manage their light displays, Duke Energy offers a holiday lighting energy calculator that estimates holiday lighting costs. Estimate your costs before decorating and incorporate efficient, budget-friendly lighting options.
Holiday lighting calculator: duke-energy.com/holiday
Users can identify the type of lights, the number of 100-bulb strands and how many hours the lights will be used per day to estimate the energy cost per day and per month. Based on their lighting selections, customers can receive energy-efficient tips and options.
For example, six 100-bulb sets of large, incandescent bulbs (600 bulbs total) plugged in six hours every evening can add about $75 to a monthly power bill.
By comparison, six 100-bulb sets of similarly styled light-emitting diode (LED) bulbs would increase a monthly power bill by only about $5. Using six 100-bulb sets of mini-LED bulbs would increase a monthly power bill by only 72 cents.
Watts cooking?
Whether you are mixing, roasting or baking your favorite holiday dishes, use our cooking calculator to see the total cost of preparing everything from appetizers to desserts.
Holiday cooking calculator: duke-energy.com/calculator
Money-saving tips to combat the cold
As the holiday season heats up, temperatures will cool down. Help save on your winter energy bills with the following tips:
A safe and happy holiday season
Having a happy holiday means having a safe holiday. Before your deck the halls, follow these tips to stay safe and happy this holiday season:
For more tips and information on how to save energy and money, visit duke-energy.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/12/201912/10/2019 - Duke Energy and other utilities securing more home-grown energy from poultry waste in North Carolina
Duke Energy and other utilities securing more home-grown energy from poultry waste in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Dec. 10, 2019 /PRNewswire/ -- Duke Energy and a consortium of other utilities are securing poultry waste renewable energy certificates (RECs) from a $32 million Pitt County facility that started operating recently.
The Carolina Poultry Power facility in Farmville generates 2 megawatts (MW) of power and 75,000 tons of steam per hour – using more than 230 tons of turkey waste a day. Carolina Poultry Power is 100% owned and operated by the Power Resource Group.
"Duke Energy supports the innovative way biomass can complement the other resources in our energy mix," said Stephen De May, Duke Energy's North Carolina president. "Using poultry waste to generate electricity diversifies our energy portfolio and supports the important agriculture industry in North Carolina."
The project will help Duke Energy satisfy state poultry waste-to-energy mandates under the Renewable Energy and Energy Efficiency Portfolio Standard ("REPS") law in North Carolina. In 2018, 300,000 megawatt-hours (MWh) of the total electric power sold to retail electric customers in North Carolina was supplied by poultry waste.
The utilities buy the RECs generated by the facility when it produces 1 MWh of electricity. The RECs help the utilities meet the REPS requirements.
"This is a great example of North Carolina's portfolio standard directly causing the deployment of $32 million into the state to create jobs while helping divert pollution from our waterways," said Rich Deming, CEO of the Power Resource Group. "This project would have died during the long finance process if it were not for the support of Duke Energy and the utility counterparties when we needed contract extensions and other help."
The facility, which is connected to the energy grid by Pitt and Greene Electric Membership Corporation, collects poultry litter from dozens of nearby farms. It is dried to create a boiler fuel, which then creates steam and electricity.
The financing for the facility was provided by First National Bank of Pittsburgh and a consortium of private investors.
Duke Energy has been a long-time supporter of biomass in the state and this facility is an important addition to its portfolio. Additional utilities supporting the project through REC purchases are the North Carolina Electric Membership Corporation, EnergyUnited, Virginia Electric and Power Company (Dominion North Carolina), and the Fayetteville Public Works Commission.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About the Power Resource Group
The Power Resource Group moved its headquarters from Charlotte to Farmville in 2018. It is currently developing multiple additional energy projects using a variety of waste resources as fuel, and industrial-scale solar equipment leasing projects. prg-llc.com.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy Corp.
Article Date
12/10/2019Duke Energy Indiana winter assistance funds increase to $750,000
Source: PR Newswire
PLAINFIELD, Ind., Dec. 9, 2019 /PRNewswire/ -- Duke Energy has increased its winter assistance funding for qualifying Indiana customers who may struggle to pay their winter energy bills.
The company is contributing $650,000 for low-income customer energy assistance through its Helping Hand program this year. In addition, Duke Energy Indiana customers and employees have contributed more than $96,000 through November, and more is expected in December, raising this year's total energy assistance to approximately $750,000. A portion of the company's funding is the result of an agreement with the Indiana Office of Utility Consumer Counselor.
"We know the winter months can be a hardship for some, and each year our shareholders and customers contribute to help families and individuals who may be struggling to pay their winter energy bills," said Duke Energy Indiana President Stan Pinegar. "This year, to reach more customers in need, we are increasing our shareholder contribution by $150,000. Last year, we were able to help more than 3,700 Hoosiers who needed assistance paying their electricity bills."
Duke Energy works with the Indiana Community Action Association and the Indiana Housing and Community Development Authority's Energy Assistance Program, which determines eligibility and distributes the company's assistance funds.
"Our clients are most vulnerable during the winter, and no one should be left in the cold," said Elaine Zeider, manager of Family Services for the Area Five Agency on Aging and Community Services. "For years we've used Duke Energy's Helping Hand funds to keep Hoosiers warm and relieve some of the stress of winter bills."
For more information on the Helping Hand program, including eligibility for funds, participating agencies and how to make a donation, visit duke-energy.com/community/customer-assistance-programs/helping-hand.
Winter Energy Saving Tips
For more information on how to cut costs and stay warm this winter, visit duke-energy.com/home/savings/winter-heating-energy-savings. Duke Energy also offers energy efficiency products, services and information to help customers save energy and money. For more information, visit duke-energy.com.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy Corp.
Article Date
12/9/201912/2/2019 - Duke Energy Progress rates decreased for North Carolina customers on Dec. 1 due to annual adjustments
Duke Energy Progress rates decreased for North Carolina customers on Dec. 1 due to annual adjustments
Source: PR Newswire
RALEIGH, N.C., Dec. 2, 2019 /PRNewswire/ -- Duke Energy Progress customers in North Carolina will see a drop in their electric rates this winter season.
Overall energy costs will decrease approximately 3.2% for residential customers, 4.5% for commercial customers and 1.6% for industrial customers.
The total monthly impact for a typical residential customer using 1,000 kilowatt-hours (kWh) per month is a decrease of $3.81, from $120.44 to $116.63.
The lower rates were reviewed by the North Carolina Utilities Commission, and include approved annual changes in costs associated with fuel, compliance with the state's renewable energy portfolio standard (REPS), cost recovery under the Joint Agency Asset Rider (JAAR), and requested changes to rates for implementation of energy efficiency (EE) and demand-side management (DSM) programs.
The main driver is a decrease in monthly fuel costs as part of an annual adjustment of the actual cost of fuel used to power North Carolina homes and businesses through renewable, natural gas, nuclear and coal-fired generation. By law, the company makes no profit from the fuel component of rates.
The new fuel, REPS and JAAR rates went into effect Dec. 1, 2019, and the new EE and DSM rates will go into effect Jan. 1, 2020.
Helping customers save
Duke Energy Progress works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs.
Duke Energy Progress is also committed to helping customers take control of their energy use and manage their bills. The company offers energy-saving tips and innovative efficiency programs for every budget to help customers realize additional savings.
For example, the Home Energy House Call is a free in-home energy assessment, valued at $180, designed to give Duke Energy customers more information about how they use energy in their home and strategies to save money on their monthly bill.
To learn more about these programs, visit duke-energy.com/savings.
Duke Energy Progress serves 1.4 million households and businesses in central and eastern North Carolina and in the Asheville region.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
12/2/2019Duke Energy, Carolina Panthers team up to "Share the Warmth" for neighbors in need
Source: PR Newswire
CHARLOTTE, N.C., Dec. 2, 2019 /PRNewswire/ -- Duke Energy and the Carolina Panthers have teamed up to bolster contributions to "Share the Warmth" -- a community assistance program established by Duke Energy in 1985 to help Carolinas residents in need pay for heating expenses. The partnership includes game-day events, advertising and other outreach efforts.
A new text-to-give option allows anyone who makes a donation to receive an exclusive thank-you video featuring Carolina Panther players. Also, fans who donate at least $20 by text at the Duke Energy Share the Warmth tent on Mint Street before December home games will receive a limited-edition Carolina Panthers "Share the Warmth" scarf, while supplies last.
The Duke Energy Foundation matches contributions, dollar-for-dollar, up to $500,000.
"Winter can be a challenging time for many Carolinians who struggle to keep their homes warm while making ends meet," said Harry Sideris, senior vice president of Duke Energy customer experience and services. "We're excited to team up with the Carolina Panthers and their fans to help increase support for Share the Warmth, which has provided essential funding for our communities for more than 30 years."
To kick off this season of giving, Carolina Panthers Charities will contribute $1,000 to Share the Warmth for every sack of an opposing team's quarterback during the team's remaining home and away December games.
During the Dec. 1 game against Washington, the Panthers defense sacked the quarterback five times for a $5,000 contribution. Track the Panthers progress using the "sack counter" available on www.panthers.com/fans/share-the-warmth
"We are delighted to be partnering with Duke Energy on their 'Share the Warmth' campaign," said Paul McGoohan, vice president of business development for the Carolina Panthers. "As part of our community commitment, we are happy to assist in raising awareness and also make our own contribution."
In 2019, Share the Warmth provided more than $1.1 million to more than 80 agencies in the Duke Energy Carolinas service area (primarily western and central North Carolina and upstate South Carolina) Since 1985, agencies have received more than $35 million in assistance to help income-qualified individuals and families.
To Donate
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Media Contact: Paige Layne
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/2/201911/26/2019 - Going green and diverse: Duke Energy Florida completes two financings totaling $900 million
Going green and diverse: Duke Energy Florida completes two financings totaling $900 million
Source: PR Newswire
CHARLOTTE, N.C., Nov. 26, 2019 /PRNewswire/ -- Duke Energy Florida, a subsidiary of Duke Energy (NYSE: DUK), completed two debt issuances today, aligned with the company's focus on generating cleaner energy and advancing diversity and inclusion.
The first transaction, totaling $700 million, marks Duke Energy Florida's inaugural green bond, which will finance eligible green energy projects, including the development, construction and procurement of solar generation and utility-scale battery storage projects in the state.
This transaction marks the third green bond issued by a Duke Energy utility in the past 12 months – and brings Duke Energy's total clean energy offerings to $2.3 billion. Duke Energy Carolinas issued a $1 billion green bond in November 2018 and Duke Energy Progress issued a $600 million green bond in March 2019.
Duke Energy Florida's second transaction, totaling $200 million, was led by PNC Bank and five diversity-owned financial institutions, further demonstrating Duke Energy's pledge to elevate diversity and inclusion. Each of the firms served as an active bookrunner. The firms included CastleOak Securities, C.L. King & Associates, Drexel Hamilton, Great Pacific Securities and Ramirez & Co. – representing African American-owned, women-owned, Hispanic-owned and disabled veteran-owned institutions.
The funds from this bond will be used to cover costs associated with Hurricane Dorian, as well as other general corporate purposes.
"These transactions demonstrate Duke Energy is investing in more than just energy infrastructure. By offering green and diversity-led bonds, we are investing in the future of Florida," said Duke Energy Florida state president Catherine Stempien. "We are generating cleaner energy for our customers and communities – and the green bond helps us fund these important projects as we advance our carbon-reduction goals.
As a company, we're enhancing diversity and inclusion, with our commitment extending beyond the walls of Duke Energy. Increasing diversity is the right thing to do – and we are taking deliberate actions to increase our work with diverse suppliers, financial advisors, investors and more."
Sam Ramirez, president of Hispanic-owned Ramirez & Co., said his company was pleased to be a part of today's transaction. Ramirez & Co. has operations in Florida.
"The partnership on this transaction is a testament to Duke Energy's commitment to diversity and inclusion. We were proud to have a meaningful role in the deal and it demonstrates that Duke Energy understands the importance of involving institutions like ours. It allowed different kinds of diversity-owned firms help Duke Energy Florida broaden its investor base and access low-cost capital on behalf of its customers," said Ramirez.
Duke Energy has outlined a comprehensive strategy to reduce carbon emissions by more than 50 percent by 2030, and is striving to attain net-zero carbon emissions by 2050. Duke Energy Florida plans to install or acquire more than 700 megawatts of solar energy through 2022. To date, approximately 345 megawatts have been installed or are currently under construction to benefit customers.
The $700 million green bond was priced at a fixed-rate coupon of 2.50% and has a 10-year maturity. The $200-million diversity-led transaction has a two-year maturity and a floating rate pricing structure, with initial pricing set at approximately 2.17%.
The company priced the bonds on Nov. 21 and closed the transaction earlier today.
Duke Energy
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/26/2019Duke Energy contributes $500,000 to protect wetlands in Unity Park in Greenville, S.C.
Source: PR Newswire
GREENVILLE, S.C., Nov. 22, 2019 /PRNewswire/ -- Duke Energy today announced a $500,000 grant to enhance and protect natural wetlands in Greenville's Unity Park, providing school children and other park visitors the opportunity to learn about the native species and wildlife living in this unique and critical ecosystem in the middle of an urban environment.
The project will include the Duke Energy Outdoor Classroom as part of an ADA-accessible boardwalk providing new public access to these currently overlooked and unapproachable wetlands. Once completed, the area will serve as an outdoor classroom for educating the public about the important environmental contribution of wetlands and the need to preserve them.
"We are excited to once again engage with a trusted partner like the city," said Michael Callahan, Duke Energy's South Carolina state president. "Unity Park is one of those projects that has so much depth and impact that we had to be a part of it. Not only will we see improvements in the environment with this grant, we will see lives changed."
"We are grateful for Duke Energy Foundation's participation in Unity Park and value its partnership on this transformative project," said Greenville Mayor Knox White.
The wetlands area of Unity Park along the northern perimeter of the 60-acre park marks the original path of the Reedy River before it was diverted in a 1933 Depression-era project by city engineers and the federal Works Progress Administration.
Despite close proximity to the Swamp Rabbit Trail – a popular 22-mile multi-use trail that is the backbone of the city and county's greenway system – these wetlands are largely hidden from view and inaccessible to the public.
The wetlands work aligns with one of the park's nine guiding principles that emerged during more than a decade of meetings with neighborhood residents and the community to discuss their priorities for Unity Park. Improving the wetland areas in Unity Park is intended to create a healthier river system, improve habitat, mitigate flood risk and create a greater scenic and educational amenity for the community.
Duke Energy Foundation joins Michelin Corporate Foundation, Auro Hotels, Craig and Vicki Brown, SYNNEX Corporation and SC Telco that have publicly announced their partnerships in Unity Park. More than $6 million in private money has been raised for construction of the $41 million first phase of the park, scheduled to open in 2022.
The Duke Energy Foundation annually funds more than $2 million to nonprofit organizations in South Carolina.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where Duke Energy customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 150 company, Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/22/201911/21/2019 - Ohio Power Siting Board gives Duke Energy Ohio's Central Corridor natural gas pipeline a green light
Ohio Power Siting Board gives Duke Energy Ohio's Central Corridor natural gas pipeline a green light
Source: PR Newswire
CINCINNATI, Nov. 21, 2019 /PRNewswire/ -- The Ohio Power Siting Board (OPSB) today secured a better energy future for residents and businesses in southwest Ohio by approving a route for a new natural gas pipeline that will deliver clean natural gas to the area.
The decision comes after a thorough review of the company's application, and evidentiary and public hearings about the approximately 14-mile natural gas pipeline.
In its ruling, the OPSB concluded the best route for the Central Corridor distribution pipeline is the proposed western or alternate route that runs through Sharonville, Sycamore Township, Blue Ash, Evendale, Reading, Amberley Village and Golf Manor.
"The board…finds that the need for the project has been demonstrated based on the need to retire the aged and outdated propane-air facilities. The record, however, also reflects that the [pipeline] will improve the north/south system supply balance, which we find is further evidence of need," the board said in its order.
The pipeline will serve customers in southwest Ohio and connect an existing Duke Energy Ohio pipeline near the intersection of Butler, Warren and Hamilton counties with an existing company pipeline in the Norwood area.
"The OPSB's certificate to construct this critical infrastructure is an important milestone for the Central Corridor Pipeline, and we thank the board for its thorough review of this project," said Amy Spiller, president, Duke Energy Ohio and Kentucky. "We look forward to working closely with the communities and neighbors along the pipeline route throughout the construction process to keep them informed while advancing public safety," Spiller added.
The Central Corridor Pipeline project will help strengthen the natural gas system and position Duke Energy Ohio to continue its long history of providing safe and reliable natural gas service to Ohio communities for decades to come.
The new 20-inch distribution pipeline will help the company balance the natural gas supply, improve the company's natural gas infrastructure and enable retirement of propane peaking facilities that are used to supplement the local natural gas supply on the coldest days of the year.
Pipeline construction is expected to begin at the northern end of the route in late fall of 2020 and be complete by the end of 2021. Construction will likely take three to six weeks on each parcel the pipeline crosses.
For more information on the project, visit: duke-energy.com/CentralCorridor.
About Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Sally Thelen
Office: 513.287.2432
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/21/2019Duke Energy announces closing of common stock offering with a forward component
Source: PR Newswire
CHARLOTTE, N.C., Nov. 21, 2019 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke Energy") announced today the closing of its underwritten public offering of 28,750,000 shares of its common stock in connection with the forward sale agreements described below, which included the underwriters' full exercise of their option to purchase up to an additional 3,750,000 shares of Duke Energy's common stock. J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Credit Suisse, BofA Securities, Citigroup, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers of the offering.
The closing will result in approximately $2.47 billion of net proceeds, before expenses (assuming the forward sale agreements are physically settled based on the initial forward sale price per share of $85.99).
In connection with the offering, Duke Energy entered into forward sale agreements with an affiliate of J.P. Morgan ("forward counterparty") under which Duke Energy agreed to issue and sell to the forward counterparty (subject to Duke Energy's right to cash settle or net share settle the forward sale agreements) 28,750,000 shares of its common stock at the initial forward sale price of $85.99.
Settlement of the forward sale agreements is expected to occur on or prior to Dec. 31, 2020. Upon any physical settlement of the forward sale agreements, Duke Energy will issue and deliver to the forward counterparty shares of Duke Energy's common stock in exchange for cash proceeds per share, based on the initial forward sale price of $85.99. The initial forward sale price will be subject to certain adjustments as provided in the forward sale agreements. Duke Energy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreements.
In connection with the forward sale agreements, the forward counterparty or its affiliate borrowed from third-party lenders and sold to the underwriters 28,750,000 shares of Duke Energy's common stock at the close of the offering.
The net proceeds from the offering (assuming physical settlement of the forward sale agreements) are expected to be used for general corporate purposes.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.7 million customers located in six states in the Southeast and Midwest. Its Gas Utilities and Infrastructure business unit distributes natural gas to over 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a renewable energy portfolio across the United States.
Duke Energy is traded on the New York Stock Exchange under the symbol DUK.
Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations, and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of Duke Energy or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of Duke Energy service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and natural gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to obtain the necessary permits and approvals and to complete necessary or desirable pipeline expansion or infrastructure projects in Duke Energy's natural gas business; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy's or its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to us; the performance of projects undertaken by Duke Energy's nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of U.S. tax legislation to Duke Energy's financial condition, results of operations or cash flows and credit ratings; the impacts from potential impairments of goodwill or equity method investment carrying values; and the ability to implement Duke Energy's business strategy, including enhancing existing technology systems.
Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this press release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analyst: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
11/21/2019Duke Energy announces pricing of common stock offering with a forward component
Source: PR Newswire
CHARLOTTE, N.C., Nov. 18, 2019 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke Energy") announced today the pricing of a public offering of 25 million shares of its common stock at a public offering price of $86.45 per share in connection with the forward sale agreement. J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Credit Suisse, BofA Securities, Citigroup, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering. The underwriters may offer shares of Duke Energy's common stock in transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at either market prices or at negotiated prices.
In connection with the offering, Duke Energy entered into a forward sale agreement with an affiliate of J.P. Morgan ("forward counterparty") under which Duke Energy agreed to issue and sell to the forward counterparty (subject to Duke Energy's right to cash settle or net share settle the forward sale agreement) 25 million shares of its common stock. The underwriters of the offering have been granted a 30-day option to purchase up to an additional 3.75 million shares of Duke Energy's common stock upon the same terms. The offering is expected to close on November 21, 2019, subject to customary closing conditions. If the underwriters exercise their option to purchase additional shares of Duke Energy's common stock, Duke Energy expects to enter into an additional forward sale agreement with the forward counterparty with respect to the additional shares.
Settlement of the forward sale agreement is expected to occur on or prior to Dec. 31, 2020. Duke Energy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreement.
The expected net proceeds from the offering are to be used for general corporate purposes.
The offering is being made pursuant to Duke Energy's effective shelf registration statement filed with the Securities and Exchange Commission (SEC). The prospectus supplement and the accompanying base prospectus related to the offering will be available on the SEC's website at www.sec.gov. Copies of the prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from the joint-book running managers for the offering as follows:
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204 | Goldman Sachs & Co. LLC Attention: Prospectus Department 200 West Street New York, NY 10282 Telephone: (866) 471-2526 | ||
Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (888) 603-5847 | Credit Suisse Securities (USA) LLC Attention: Prospectus Department Eleven Madison Avenue, 3rd Floor New York, NY 10010 Telephone: (800) 221-1037 | ||
BofA Securities Attention: Prospectus Department NC1-004-03-43 200 North College Street, 3rd Floor Charlotte, NC 28255 Telephone: (800) 294-1322 | Citigroup c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (800) 831-9146 | ||
Morgan Stanley & Co. LLC Attention: Prospectus Department 180 Varick Street, 2nd Floor New York, NY 10014 | Wells Fargo Securities Attention: Equity Syndicate Department 375 Park Avenue New York, NY 10152 Telephone: (800) 326-5897 | ||
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.7 million customers located in six states in the Southeast and Midwest. Its Gas Utilities and Infrastructure business unit distributes natural gas to over 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a renewable energy portfolio across the United States.
Duke Energy is traded on the New York Stock Exchange under the symbol DUK.
Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations, and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of Duke Energy or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of Duke Energy service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and natural gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to obtain the necessary permits and approvals and to complete necessary or desirable pipeline expansion or infrastructure projects in Duke Energy's natural gas business; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy's or its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to us; the performance of projects undertaken by Duke Energy's nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of U.S. tax legislation to Duke Energy's financial condition, results of operations or cash flows and credit ratings; the impacts from potential impairments of goodwill or equity method investment carrying values; and the ability to implement Duke Energy's business strategy, including enhancing existing technology systems.
Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this press release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analyst: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
11/19/2019Duke Energy announces public offering of common stock with a forward component
Source: PR Newswire
CHARLOTTE, N.C., Nov. 18, 2019 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke Energy") announced today that it has commenced a registered public offering of 25 million shares of its common stock in connection with a forward sale agreement. J.P. Morgan, Goldman Sachs & Co. LLC, Barclays, Credit Suisse, BofA Securities, Citigroup, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of this offering. The underwriters may offer shares of Duke Energy's common stock in transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at either market prices or at negotiated prices.
In connection with the offering, Duke Energy expects to enter into a forward sale agreement with J.P. Morgan or its affiliate ("forward counterparty") under which Duke Energy will agree to issue and sell to the forward counterparty (subject to Duke Energy's right to cash settle or net share settle the forward sale agreement) 25 million shares of its common stock. In addition, the underwriters of the offering are expected to be granted a 30-day option to purchase up to an additional 3.75 million shares of Duke Energy's common stock upon the same terms. If the underwriters exercise their option to purchase additional shares of Duke Energy's common stock, Duke Energy expects to enter into an additional forward sale agreement with the forward counterparty with respect to the additional shares.
Settlement of the forward sale agreement is expected to occur on or prior to Dec. 31, 2020. Duke Energy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreement.
The expected net proceeds from the offering are to be used for general corporate purposes.
The offering is being made pursuant to Duke Energy's effective shelf registration statement filed with the Securities and Exchange Commission (SEC). The preliminary prospectus supplement and the accompanying base prospectus related to the offering will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from the joint-book running managers for the offering as follows:
J.P. Morgan Securities LLC 1155 Long Island Avenue Edgewood, NY 11717 | Goldman Sachs & Co. LLC Attention: Prospectus Department New York, NY 10282 | |
Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (888) 603-5847 | Credit Suisse Securities (USA) LLC Attention: Prospectus Department Eleven Madison Avenue, 3rd Floor New York, NY 10010 Telephone: (800) 221-1037 | |
BofA Securities NC1-004-03-43 Telephone: (800) 294-1322 | Citigroup Telephone: (800) 831-9146 | |
Morgan Stanley & Co. LLC New York, NY 10014 | Wells Fargo Securities 375 Park Avenue New York, NY 10152 | |
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.7 million customers located in six states in the Southeast and Midwest. Its Gas Utilities and Infrastructure business unit distributes natural gas to over 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a renewable energy portfolio across the United States.
Duke Energy is traded on the New York Stock Exchange under the symbol DUK.
Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations, and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of Duke Energy or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of Duke Energy service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and natural gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to obtain the necessary permits and approvals and to complete necessary or desirable pipeline expansion or infrastructure projects in Duke Energy's natural gas business; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, operational accidents, information technology failures or other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy's or its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to us; the performance of projects undertaken by Duke Energy's nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of U.S. tax legislation to Duke Energy's financial condition, results of operations or cash flows and credit ratings; the impacts from potential impairments of goodwill or equity method investment carrying values; and the ability to implement Duke Energy's business strategy, including enhancing existing technology systems.
Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and are available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this press release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analyst: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
11/18/2019Duke Energy expands campaign to protect its customers from fraud
Source: PR Newswire
CHARLOTTE, N.C., Nov. 15, 2019 /PRNewswire/ -- With the fourth annual Utility Scam Awareness Week starting Nov. 17, Duke Energy is expanding its campaign to protect its nearly 8 million customers from utility-impostor scammers.
Duke Energy, a founding member of Utilities United Against Scams (UUAS), is reminding customers of tactics used by scammers to steal their money, and providing tips on how to avoid these scams.
The UUAS is a consortium of more than 140 U.S. and Canadian electric, water, and natural gas companies (and their respective trade associations) that raises awareness of utility scams targeting customers.
UUAS has helped shut down nearly 5,000 toll-free phone numbers used by utility-impostor scammers.
More than 37,500 Duke Energy customers have reported scam attempts since the company began tracking reports in June 2015. A small fraction of those customers – about 6 to 7 percent – fell victim to the scams, losing a total of nearly $2 million.
From January through September 2019, more than 10,000 Duke Energy customers reported receiving a scam attempt. Of these, 552 customers, or about 5.5% paid the scammers, totaling nearly $316,000 in losses.
Phone scammers posing as utility providers call and insist customers are delinquent on their bills. The scammer typically claims a disconnection is pending, rigs caller ID to make it look like the call is from a utility provider, and demands the money in the form of a prepaid debit card. Common scam tactics include:
Customers who suspect they have been victims of fraud or who feel threatened during contact with one of these scammers should:
The fourth annual Utility Scam Awareness Week includes a weeklong advocacy and awareness campaign focused on exposing scammers' tactics to help protect utility customers.
The UUAS' Utility Scam Awareness Week campaign theme, "It happened to me; don't let it happen to you," highlights how easy it can be to fall victim to a scam and offers lessons learned from customers who have had this unfortunate experience.
"Scammers' techniques are becoming increasingly more sophisticated, making it harder for utility customers to differentiate between scams and legitimate messages," said Jared Lawrence, Duke Energy's vice president of customer operations for Piedmont Natural Gas and Metering Services and UUAS founder and executive committee chair. "This is why we raise awareness and take action throughout the year, and especially during National Utility Scam Awareness Week. Our data show that deception rates have decreased since we began tracking in 2015, but we won't be content until none of our customers lose money to scammers. We'll continue work on their behalf and provide information on how to stay safe."
Duke Energy developed an interactive quiz to highlight common scam techniques and safety tips.
Visit duke-energy.com/stopscams or utilitiesunited.org for more information and tips about how customers can protect themselves from impostor utility scams, or follow along on social media: Twitter @DukeEnergy or @U_U_A_S and Facebook @Duke Energy or @UtilitiesUnited.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
11/15/201911/12/2019 - $300,000 in grants from Duke Energy will aid Triangle to transition to more electric buses
$300,000 in grants from Duke Energy will aid Triangle to transition to more electric buses
Source: PR Newswire
CHARLOTTE, N.C., Nov. 12, 2019 /PRNewswire/ -- A pair of grants totaling $300,000 from Duke Energy Corp. will help two transit agencies in the Triangle area fund electric bus-charging stations that are being incorporated into their fleets.
"We're pleased our grants can help transit agencies in the Triangle area transition to cleaner bus fleets that help the environment," said Stephen De May, Duke Energy's North Carolina president.
Grants were awarded to:
"We greatly appreciate Duke Energy's investment in our electric-bus efforts," says Shelley Blake Curran, GoTriangle's interim CEO and president. "As we improve and increase our services that better connect all points of the Triangle every year, we are excited to be exploring ways to better protect the environment, too."
GoTriangle operates 69 buses and averages more than 6,000 boardings a day on its routes in Wake, Durham and Orange counties.
At GoRaleigh, the agency has committed to the purchase of five new electric buses and five charging stations. GoRaleigh is converting its diesel fleet to natural gas and electric fueled vehicles, which are cleaner and less expensive to operate during the life of the vehicles. The new electric buses are scheduled for delivery in August and September of 2020.
GoRaleigh is the city of Raleigh's public transit bus service. It operates 84 buses, serving approximately 17,000 passengers per day, and covers a territory of 144 square miles.
Since 2016, Duke Energy has expanded charging for electric vehicles and buses throughout North Carolina. The program helped fund almost 200 public electric vehicle charging stations in North Carolina. Recently, the company helped the city of Asheville with its charging infrastructure. In 2016, Duke Energy helped the city of Greensboro with transit bus charging.
The Duke Energy funding was part of a 2015 settlement with the U.S. Environmental Protection Agency and environmental groups.
The legacy grant funding is separate from the $76 million Electric Transportation pilot being considered now by the North Carolina Utilities Commission. The current proposal builds upon lessons learned during the earlier program. It will expand municipal and school bus charging infrastructure, as well as expand residential and public charging for passenger vehicles. Read about the current proposal.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
11/12/2019Duke Energy reports third-quarter 2019 financial results
Source: PR Newswire
CHARLOTTE, N.C., Nov. 8, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its third-quarter 2019 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors section (duke-energy.com/investors) of Duke Energy's website or by dialing 888.254.3590 in the U.S. or 323.994.2093 outside the U.S. The confirmation code is 8996655. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 18, 2019, by calling 888.203.1112 in the U.S. or 719.457.0820 outside the U.S. and using the code 8996655. An audio replay and transcript will also be available by accessing the investors section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
11/8/201911/7/2019 - Duke Energy joins fight against North Carolina's opioid epidemic with $500,000 in grants
Duke Energy joins fight against North Carolina's opioid epidemic with $500,000 in grants
Source: PR Newswire
RALEIGH, N.C., Nov. 7, 2019 /PRNewswire/ -- Duke Energy today announced $500,000 in grant funding to two organizations championing the battle against North Carolina's opioid epidemic.
The Duke Energy Foundation awarded $100,000 to the More Powerful NC campaign and $400,000 to the North Carolina Harm Reduction Coalition (NCHRC).
"Our communities need help, so we're joining the fight against the opioid crisis," said Stephen De May, North Carolina president, Duke Energy. "We're proud to support the critical work of these organizations to expand access to help, and to broaden educational outreach in North Carolina."
The More Powerful NC campaign was created by the North Carolina Departments of Justice and Health and Human Services, as well as other partners, to raise awareness about the opioid crisis and to encourage North Carolinians to take action in their own communities.
The campaign outlines real, actionable steps for the safe storage, use and disposal of pain medications, as well as resources for finding treatment and recovery support. Duke Energy Foundation funds will be used for public education and outreach.
"The opioid epidemic is ripping through North Carolina and leaving a trail of sick and grieving people in its wake," said Attorney General Josh Stein. "That is why I am so proud to team up with this diverse and passionate group of government and corporate leaders. More Powerful NC is raising awareness of addiction and spurring action in local communities. I want people all over this state to appreciate that together, we are more powerful than this epidemic."
NCHRC is a comprehensive harm reduction program. The organization engages in grassroots advocacy, resource development, coalition building and direct services for people impacted by drug use. NCHRC also provides resources and support to the law enforcement, public health and provider communities.
"The North Carolina Harm Reduction is proud to partner with Duke Energy Foundation. This funding will make it possible for us to improve access to healthcare and other social resources for directly-impacted people living in rural communities in eastern, central and western North Carolina by supporting our outreach and linkages to care programs," Shelisa Howard-Martinez, executive director, North Carolina Harm Reduction Coalition.
Duke Energy Foundation funding for NCHRC will establish nine new regular outreach sites; expand wraparound services and build capacity by creating a replicable model for community technical assistance. Within 12 months, the grant to NCRHC will reach 2,360 individuals through direct service and 25 communities through technical assistance programs engaging local healthcare providers, government, law enforcement and social services.
More Powerful NC
Led by NC Attorney General Josh Stein and NC Department of Health and Human Services Secretary Mandy Cohen to raise awareness around the devastating impact of the opioid crisis in North Carolina, the More Powerful NC campaign is anchored in the message that together, we are more powerful than opioids—and we can all help play a part in ending the epidemic.
North Carolina Harm Reduction Coalition
NCHRC works with communities across North Carolina, from the coast to the mountains. Founded in 2004 and incorporated in 2006, NCHRC has grown from an advocacy group to a nationally recognized nonprofit that provides direct services to people impacted by drug use and that supports local communities and stakeholders through technical assistance, resource development and advocacy. More information about NCHRC can be found at www.nchrc.org.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where Duke Energy's customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 150 company, Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie, Duke Energy
24-Hour: 800.559.3853
Contact: Laura Brewer, NC Department of Justice and More Powerful NC
Phone: 919.716.6484
Contact: Shelisa Howard-Martinez, NC Harm Reduction Coalition
Phone: 336.543.8050
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SOURCE Duke Energy
Article Date
11/7/2019Duke Energy Progress requests rate review by North Carolina Utilities Commission to build cleaner, more reliable energy future
Source: PR Newswire
CHARLOTTE, N.C., Oct. 30, 2019 /PRNewswire/ -- Duke Energy Progress today asked North Carolina regulators in a filing to review its rates as the company continues working to reduce carbon emissions, strengthen the grid and improve the customer experience.
"We are focused on providing cleaner, more reliable energy to customers," said Stephen De May, Duke Energy's North Carolina president. "Delivering on this commitment requires smart investments and collaborative planning as we transition to cleaner energy sources and improve the grid – all while keeping costs as low as possible and North Carolina competitive."
The filing with the North Carolina Utilities Commission (NCUC) requests to increase annual revenues by about $464 million, for an overall average rate increase across all customer groups of 12.3%. The company's request has been reduced by customer savings of 3.2% resulting from federal and state tax reform.
The specific increase for individual customer groups would vary, depending on the rate they pay. The average rate increase from the proposed changes for residential customers would be 14.3%, while commercial and industrial customers would see an average increase of 10.4%.
If the proposal is approved by state regulators, a residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $137.73 per month, reflecting an increase of $17.29 per month, on average.
The NCUC will ultimately set new customer rates after conducting a review process that includes multiple opportunities for public comment and a determination of whether the company's investments were prudent and in customers' best interests.
Duke Energy Progress serves 1.4 million households and businesses in central and eastern North Carolina and in the Asheville region. Today's filing is separate from the request made by Duke Energy Carolinas in September. The replacement of an existing coal plant with a new natural gas plant in Asheville, coupled with significant storm costs, are the main differences between the Duke Energy Progress and Duke Energy Carolinas requests.
The rate increase would cover costs Duke Energy has incurred on behalf of customers to shift to cleaner energy, improve reliability and grid resiliency and provide more convenience for customers.
Shifting to cleaner energy
Improving reliability and grid resiliency
Supporting low-income customers
"We know rising costs can be difficult for many customers, and particularly challenging for our customers on low and fixed incomes," De May said. "We have heard the concerns and are working to minimize the impact of these important investments on our customers least able to accommodate rate increases. We look forward to the next steps in this process."
For additional resources, visit duke-energy.com/DEPNCRates.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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SOURCE Duke Energy
Article Date
10/30/2019Duke Energy ranked No. 1 among U.S. utilities for investor transparency
Source: PR Newswire
CHARLOTTE, N.C., Oct. 29, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has been ranked No. 1 among U.S. utilities for investor transparency by an independent financial communications firm.
Labrador Advisory Services reviewed the proxy statements, 10-K filings and website investor pages of the nation's 250 largest companies, based on market capitalization.
The firm ranked Duke Energy's investor disclosures No. 1 for transparency among the nation's utilities – and No. 16 among all companies – based on quality and completeness of information.
"Duke Energy takes transparency and disclosure seriously," said Kodwo Ghartey-Tagoe, Duke Energy executive vice president and chief legal officer. "The company's credibility and reputation depend on providing clear, complete, easily accessible information to customers, investors and the general public."
Duke Energy "placed within the Top 20 (across all industries) for several reasons," Labrador said.
Among them:
Labrador's evaluation – culminating in its inaugural "U.S. Transparency Awards" – included 93 different criteria based on what it called "four pillars of transparency":
"More than 23,000 data points were collected and reviewed as we determined this year's rankings," said Molly Doran, Labrador's director of advisory and design services.
"Each data point was ranked based on its importance in the investor community. Our hope is that the Transparency Awards and the criteria used in the rankings will encourage companies to adapt and innovate how they communicate through their regulated disclosures," Doran said.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
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SOURCE Duke Energy
Article Date
10/29/201910/29/2019 - Duke Energy invests nearly $300,000 in projects that help protect, restore natural resources in South Carolina
Duke Energy invests nearly $300,000 in projects that help protect, restore natural resources in South Carolina
Source: PR Newswire
GREENVILLE, S.C., Oct. 29, 2019 /PRNewswire/ -- The Duke Energy Foundation recently awarded nearly $300,000 in grants to 12 South Carolina organizations that will fund environmental projects, wildlife conservation efforts and environmental educational programs across the state.
"These grants aid in the protection of the environment and provide communities with much-needed resources to promote good stewardship of the natural beauty around us," said Michael Callahan, Duke Energy's South Carolina president. "By supporting the organizations that do this great work, we can help protect, restore and enhance natural resources, and provide valuable educational opportunities to nature lovers of all ages."
The Nature Conservancy in South Carolina received a grant to help the group's outreach and education efforts on the critical need for long-term forest management activities.
"We've worked with partners like the Duke Energy Foundation for decades to care for our Upstate forests," says Mark Robertson, executive director for The Nature Conservancy in South Carolina. "Our new Forest Restoration Outreach Project will bring both public agencies and private landowners together to learn about the importance of managing timber effectively, restoring native species and preparing for wildfires."
Trees SC received funding that will support a program in Florence County that provides participants with a tree and educational material on proper planting techniques that will ensure the highest energy savings.
"Our partnership with Duke Energy on the Energy Saving Trees program has been the perfect balance of resource sharing," said Karen Hauck, executive director of Trees SC. "Trees SC provides the arboricultural knowledge and expertise while Duke Energy provides program participants with information on energy reduction and cost savings. Our inaugural year was a great success, and we greatly value our continuing partnership with Duke Energy."
The foundation annually funds more than $2 million to nonprofit organizations in South Carolina.
Powerful Communities: Nature Grant Recipients
Organization | Description | Grant Award | Counties Served |
Beautiful Places Alliance | Create a new kayak launch for Lake Wateree | $40,000 | Fairfield |
Chattooga River Chapter of | Install four new informational kiosks at | $7,500 | Oconee Pickens |
Francis Marion University | Develop a freshwater ecology laboratory, | $50,000 | Florence |
Greenville County Soil and | Support a seed library program that will | $8,000 | Greenville |
Hatcher Garden and | Replace signage in the 12-acre inner city | $8,000 | Spartanburg |
Kalmia Gardens of Coker | Support improving growing conditions for | $18,950 | Darlington |
Roper Mountain Science | Support a biodiversity exhibit as part of the | $50,000 | Greenville |
South Carolina Waterfowl | Help restore 20 acres of bottomland | $19,500 | Sumter |
The Nature Conservancy of | Support efforts to restore forest health to the | $15,000 | Greenville Oconee Pickens |
Trees Coalition | Supports a project to restore natural green | $5,000 | Spartanburg |
Trees SC | Continue support of the Energy Saving Trees | $20,625 | Florence |
Trees Upstate | Continue support of the Energy Saving Trees | $54,050 | Greenville Oconee Pickens Spartanburg |
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 150 company, Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/29/201910/28/2019 - Duke Energy's appeal of state decision to mandate coal ash basin excavation moves forward
Duke Energy's appeal of state decision to mandate coal ash basin excavation moves forward
Source: PR Newswire
CHARLOTTE, N.C., Oct. 28, 2019 /PRNewswire/ -- Duke Energy today issued the following statement responding to an order issued in the company's ongoing appeal of a decision by the North Carolina Department of Environmental Quality (NCDEQ) requiring nine coal ash basins to be closed by excavation. The company filed a case with the North Carolina Office of Administrative Hearings (OAH) believing that NCDEQ made the wrong decision for customers and communities.
Today, the judge in the OAH proceeding entered judgement on some claims in the case; other claims continue to proceed. Separately, our Oct. 8 appeal to the state Superior Court regarding the OAH judge's prior rulings continues to move forward; we will evaluate whether to also appeal this decision to the Superior Court.
---
Since 2014, we've made tremendous progress safely and permanently closing coal ash basins in ways that continue to protect people and the environment. We are setting an industry-leading standard with the scope and scale of our work. In North Carolina, for example:
Common sense and the Coal Ash Management Act (CAMA) tell us that basin closure decisions should be driven by science and engineering, but NCDEQ has chosen the most expensive, disruptive and time-consuming closure option for several basins – without any measurable benefit – when compared to other approaches. In the process, NCDEQ has ignored the costs that customers will bear and has ignored key aspects of CAMA.
While today's ruling is disappointing, we will continue working to protect people and the environment, within the rules as set forth under state law as we consider our next steps.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
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SOURCE Duke Energy
Article Date
10/28/2019Duke Energy declares quarterly dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., Oct. 25, 2019 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.945 per share payable on Dec. 16, 2019, to shareholders of record at the close of business Nov. 15, 2019.
The company also declared a quarterly cash dividend on its Series A preferred stock of $359.375 per share payable on Dec. 16, 2019, to shareholders of record at the close of business Nov. 15, 2019. This is equivalent to $0.359375 per depositary share.
Duke Energy has paid a cash dividend for 93 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Bryan Buckler
704.382.0459
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SOURCE Duke Energy
Article Date
10/25/201910/22/2019 - Duke Energy awards more than $253,000 in environmental grants to support projects in Greater Cincinnati
Duke Energy awards more than $253,000 in environmental grants to support projects in Greater Cincinnati
Source: PR Newswire
CINCINNATI, Oct. 22, 2019 /PRNewswire/ -- Duke Energy today awarded $253,178 to support 16 projects to aid wetlands, conservation, outdoor nature classrooms, invasive plant removals, water quality, new tree plantings and pollinator gardens across Greater Cincinnati.
The grants, which the company announced during a ceremony at the Sharon Centre, are issued from the Duke Energy Foundation and provide funding for programs in southwest Ohio and Northern Kentucky. Each year, the Foundation chooses grant recipients that focus on strong conservation efforts, water quality, and environmental programs.
"Duke Energy continues to be an industry leader in moving toward a cleaner energy future to power our customers' lives," said Amy Spiller, president, Duke Energy Ohio and Kentucky. "We're committed to the environment and will do our part to recognize programs that advance this mission."
In 2018, Duke Energy Ohio and Kentucky, and their employees and retirees, donated more than $4 million to local nonprofits. In addition, employees volunteered more than 13,000 hours of community service.
The following are summaries of each of the 16 local projects that were awarded a combined $253,178 during this morning's ceremony.
Ohio:
The Dan Beard Council, the local administrative body of the Boy Scouts of America, will apply its Duke Energy grant toward hands-on ecology and conservation programs offered at Camp Friedlander in Loveland, Ohio. The programs help scouts build a better connection to nature through exposure, education and practical experience.
Grant will be used to acquire 122 acres at the Mouth of the Little Miami River in East End, inside the city of Cincinnati. This will be the newest Nature Preserve in the city. Duke Energy funds will be utilized for matching project costs as required by the Clean Ohio Green Space Conservation Fund, as well as the placement of a livestreaming video camera on the eagle's nest so the public can enjoy watching them raise their young.
Funds will be used for the construction of a boardwalk to protect the natural wetlands around Lotus Pond and the delicate wildlife in the vernal pool. The nature center will also work on educational opportunities to teach visitors about the importance of our native ecosystems; school groups will use the boardwalk as an outdoor classroom.
The Cincinnati Park Foundation will use its grant to assist in the removal of invasive species from Burnet Woods. This is an effort to stop the degradation of the forest and improve the overall ecosystem. There are over 13 varieties of invasive plants that have taken over the greenspace. The goal is to remove all of the invasive material and provide an ongoing maintenance plan with volunteers in the community.
Funding will be used for the tree forestation initiative to locally support the global movement to restore deforested and degraded lands. For every dollar invested in planting, cities see an average $2.25 return on their investment each year. Few things provide such diverse benefits at such a low cost for a long period of time as trees do. The tree forestation initiative is intended to become a key part of Civic Garden's mission to build community through gardening, education and environmental stewardship.
William H. Harsha Lake (East Fork Lake) is the U.S. Army Corp reservoir that provides flood control, recreation and drinking water for local communities. Similar to other inland lakes across the nation, Harsha Lake is plagued with seasonal harmful algal blooms, which require the county to expend additional resources to ensure clean drinking water and safe recreation for residents and visitors. The grant funding will make it possible for the county to better monitor surface water runoff from the East Fork watershed and to advise future water management practices.
Sharon Lake lies at the heart of Sharon Woods, and is the center of recreation opportunities and experiences in the park. The funds will be used to dredge the sediment laden areas where deposits have accumulated in order to restore the lake to its previous depth. Preventive measures will also be improved to prevent sedimentation in the future. The goal is to improve the water quality of the lake so it can better host the natural wildlife and plant species that consider the lake their home, while also enhancing the visitor experience and increasing lake usage in activities such as boating and fishing.
Funding will help Phase II of the Little Duck Creek Trail Improvement Project. The project will expand land restoration work in the Little Duck Creek Nature Preserve through a partnership with the Millcreek Alliance GreenCorps program to remove invasive honeysuckle and other plants in five targeted areas of the preserve. All funds collected this year will support the connection of Bramble Park to adjacent systems and eventually connect with the emerging CROWN paved-trail network. Several more tons of invasive species will be removed from the next phased location of the trail.
The Pollinator Power Place is a pollinator garden and educational space to be located near the Welcome Center at Forest Run MetroPark. The pollinator garden will serve as a food source and habitat for a variety of pollinators and will enhance the experience of visitors to this 200-acre natural area. The pollinator garden, interpretive signs, and educational program shelter (created from an existing former stable), will educate park visitors and program participants (including school children) about the role pollinators play in the world. The garden and associated educational programs will encourage park visitors to construct pollinator gardens on their own properties.
Water quality education and monitoring are key pillars of Mill Creek's Environmental Education program. Building on these pillars, Mill Creek's Blue Team pairs existing Green Corps workforce development program members and university interns with water quality experts and volunteers from the Water Quality Monitoring program. The goal is to provide a firsthand sampling and laboratory experience, as well as environmental career education and opportunities for underserved youth from Mill Creek communities.
Duke Energy Foundation funds will be used to form a strike force to clear 22 acres of invasive plants and trees in Greater Cincinnati. New native plants and trees will be planted to support healthy species. An interactive website will also be a tool where Ohio River Foundation coalition members and the public can help identify plants and areas that are invasive species hot spots.
Three Valley Conservation Trust will use funds to restore, enhance, and protect 13 acres of floodplain and wetland habitat straddling Four Mile Creek in Oxford, Ohio for the benefit of wildlife and community members. The funding will help complete the suppression and removal of invasive flora remaining on 5.5 acres of the preserve, as well as the purchase and installation of native plant species and protective fencing for those new plantings.
The funds will assist in preserving the natural habitat at Lake Barber, which is home to a variety of animals and plants. The area's most prized possession is a recently discovered nest of the American bald eagle. Birdwatchers and park-goers alike often are seen taking photographs of this once rare sight. The funding will also be used to improve, protect and restore the wildlife, aquatic life and the natural resources Lake Barber has to offer for years to come. Eliminating the invasive species surrounding the lake will address safety concerns to the environment, as well as water quality issues by vegetation that are likely causing economic or environmental harm.
Kentucky:
The grant will be used to preserve a unique natural wetland, prevent the loss of floodplain and create a more than 100-acre contiguous nature preserve with trails in the heart of Kenton County. This project will expand the Brushy Fork preserve to protect an additional 50 acres of ecologically sensitive areas in Independence, Ky. The area includes a high-quality forest and a wetland adjacent to the Kenton Conservancy's existing Brushy Fork property. This property contains one of the few natural wetlands in the Banklick Watershed and would create greenspace and passive recreation in a rapidly developing area.
The Pollinator Habitat Initiative project is a collaborative of organizations working together with educational institutions to share knowledge and resources, determine best methods for habitat restoration and creation, and train our next generation of conservationists and scientists. Its overarching goal is to increase the amount of pollinator habitats in the Greater Cincinnati region. The funds will support habitat creation, Northern Kentucky University's research students and collaborative events.
Duke Energy Foundation and Duke Energy Ohio/Kentucky
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
Office: 513.287.2432
24-Hour: 800.559.3853
Twitter: @DE_SallyT
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SOURCE Duke Energy
Article Date
10/22/2019Duke Energy linemen lasso 6 awards at International Lineman's Rodeo
Source: PR Newswire
CHARLOTTE, N.C., Oct. 21, 2019 /PRNewswire/ -- Duke Energy linemen roped in six awards at the International Lineman's Rodeo on Saturday, Oct. 19 in Bonner Springs, Kan., with North Carolina's Mike Haynes, David Phillips and Neal Walker taking home first place in the world for the journeyman senior division, ages 50 and up.
The rodeo featured simulated "hurt-man rescues," power line repairs and utility pole climbs. The competition included more than 1,000 line-workers. Competitors were judged on speed, agility, technique and safety procedures.
Phillips is from Charlotte, Walker is from Shelby, N.C., and Haynes is from Marion, N.C.
"First place has always been our team's goal, but it's always eluded us up until this year. It was a special time for us," said Walker, a Duke Energy customer delivery supervisor. "It's a lot of hard work, but the rewards pay off, especially when you have a day like Saturday."
Another Duke Energy team -- consisting of Curt Addison, Craig Allen and Dave Barricklow, all from the Cincinnati area -- won fifth place in the same journeyman senior division.
Separately, a lineman journeyman under-age-50 team based in New Bern, N.C., placed fourth in the world. The team consisted of Brent Whitford, Stephen Cox and Dan King. The same team also placed third in the investor-owned utility division, fourth in the simulated "hurt-man rescue event," and fifth in a previously unannounced "mystery event."
"With 248 teams competing, it feels good to place where we did," said King, a Duke Energy transmission supervisor. "We hope we get the opportunity to come back next year. The guys out here continue to get better, so we've got to keep adapting and upping our game every year."
Photos, videos and more information about the winners can be found here.
All Duke Energy participants at the rodeo earned their spots by competing in regional Duke Energy competitions in 2018 and 2019.
The best line-workers at Duke Energy and its legacy companies have showcased their talents at the International Lineman's Rodeo for more than 20 years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/21/2019Piedmont Natural Gas bills to decrease for customers in the Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Oct. 18, 2019 /PRNewswire/ -- Piedmont Natural Gas has filed requests with the utility commissions in North Carolina and South Carolina to decrease natural gas costs for customers in the two states.
Reducing the commodity charge for natural gas will more than offset a rate increase Piedmont recently requested to recover costs related to system growth, pipeline integrity management, infrastructure investments, and safety and security upgrades. Even with the requested rate increase, North Carolina customers will see a net decrease in the average residential customer's bill by 13 cents per dekatherm or $7.80 per year.
In South Carolina, the requested decrease in the commodity price reduces by more than half a recent rate increase approved by the Public Service Commission of South Carolina. The approximate effect of this change on an average residential customer's bill is a net rate increase of 41 cents per dekatherm, a yearly increase of about $23.
Piedmont's bill has multiple rate components, one of which is the benchmark, or commodity, cost of natural gas. The requested decrease in the benchmark cost of natural gas from $2.75 per dekatherm to $2.25 per dekatherm in both states is expected to be effective in November 2019. Piedmont requests occasional benchmark rate adjustments to reflect changes in the commodity cost of natural gas because, by law, Piedmont must pass through to customers the actual commodity cost on a dollar-for-dollar basis.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I Media line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
10/18/2019Duke Energy linemen to compete at international competition
Source: PR Newswire
CHARLOTTE, N.C., Oct. 15, 2019 /PRNewswire/ -- Seventy-seven Duke Energy linemen from North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky will compete in the International Lineman's Rodeo on Oct. 19 in Bonner Springs, Kan.
Now in its 35th year, the rodeo attracts the best linemen from around the world. Participants travel from as far away as Australia. More than 320 individual competitors and nearly 250 teams will vie for top honors.
Events test job-related skills such as simulated hurt-man rescues, equipment repair and pole climbs. Competitors are judged on speed, agility, technique and safety procedures.
"I am extremely proud of our linemen for all they do for our customers," said Harry Sideris, senior vice president of customer experience and services. "Duke Energy rodeo competitors participate in additional training to compete against the best in the world. The competitions help our linemen refine their skills to serve our customers even more safely and efficiently."
All Duke Energy participants at the rodeo earned their spots by winning regional company competitions in 2018 and 2019. Competitors who earned a spot in 2018 were unable to participate due to Hurricane Michael power restoration efforts.
Duke Energy linemen will participate in the apprentice, journeyman and senior team divisions.
An apprentice is a line worker with less than four years of utility experience. A rodeo journeyman has greater than four years of utility experience, and a senior-journeyman must be over 50 years old.
The best line workers at Duke Energy and its legacy companies have showcased their talents at the International Lineman's Rodeo for more than 20 years.
The last time Duke Energy line workers competed at the International Lineman's Rodeo, in 2017, they roped in 18 awards and a lineman apprentice from Cary, N.C., took home the world champion apprentice title.
Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/15/201910/14/2019 - Duke Energy Carolinas partners with Anderson County, S.C., on major battery storage project
Duke Energy Carolinas partners with Anderson County, S.C., on major battery storage project
Source: PR Newswire
GREENVILLE, S.C., Oct. 14, 2019 /PRNewswire/ -- Duke Energy Carolinas is partnering with Anderson County, S.C., to build an energy storage project at the Anderson Civic Center that will be part of the company's long-term strategy to integrate battery technology into the smart-thinking grid it is building in the Carolinas.
The battery project will also provide power to a facility that is critical during emergency situations, such as being the site of a hurricane evacuation shelter.
This project is part of the company's ongoing plans to invest $500 million in battery storage projects across the Carolinas over the next 15 years.
"Through projects like this, we're transforming the state's energy infrastructure to support the two-way flow of electricity and significantly improve reliability for our customers," said Michael Callahan, Duke Energy's South Carolina president. "The added benefit of this project is that – in the case of a power outage – the storage system can be dedicated to the Anderson Civic Center so this critical emergency facility will be able to support residents and evacuees in time of crisis."
The 5-megawatt lithium ion battery will be grid-tied and available for use by Duke Energy Carolinas grid operators. The battery storage system will benefit all Duke Energy Carolinas customers by helping grid operators more efficiently manage the grid, providing additional energy options and improving grid stability during periods of peak customer demand.
The battery storage project – the first of its kind for Duke Energy in the state – will be located on land adjacent to the Anderson Civic Center and will also serve as back-up power for the facility. The battery will be able to power the Civic Center in the event of an outage for at least 30 hours based on the facility's normal usage.
"Anderson County depends greatly on reliable power at the Civic Center; especially, while it's operating as an emergency shelter," said Tommy Dunn, Anderson County Council chairman. "Power is critical at the Civic Center when our facility is being utilized as a command post for service providers and shelter to citizens who have been displaced. We are excited about the opportunity to partner with Duke Energy on this project that will benefit our community during times of disaster."
The company recently submitted a request to the Public Service Commission of South Carolina to approve a provision of the lease agreement for the land from Anderson County. Once the final engineering study for connection to the power grid is complete later this year, the project will go through a competitive bidding process for construction and is expected to be in service in early 2021.
Duke Energy Carolinas serves about 591,000 customers in the Upstate region of South Carolina, including Anderson, Greenville, Spartanburg, Lancaster and York counties.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/14/2019Duke Energy to announce third-quarter 2019 financial results on Nov. 8
Source: PR Newswire
CHARLOTTE, N.C., Oct. 7, 2019 /PRNewswire/ -- Duke Energy will announce its third-quarter 2019 financial results at 7 a.m. ET on Friday, Nov. 8, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss third-quarter 2019 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 8996655. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 18, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 8996655. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Bryan Buckler
Office: 704.382.2640
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SOURCE Duke Energy
Article Date
10/7/201910/3/2019 - Duke Energy powers the vitality of natural resources in North Carolina through $800,000 in grants
Duke Energy powers the vitality of natural resources in North Carolina through $800,000 in grants
Source: PR Newswire
CHARLOTTE, N.C., Oct. 3, 2019 /PRNewswire/ -- Today Duke Energy announced $807,000 in grant funding from the Duke Energy Foundation to 22 organizations to strengthen the health of our environment and increase access to nature in North Carolina.
"North Carolina's natural resources are a state treasure, and by collaborating with our trusted nonprofit partners we can accomplish more to protect and preserve species, habitats and water sources," said Stephen De May, NC president, Duke Energy. "We're working to ensure that future generations enjoy and benefit from all that North Carolina's natural wonders have to offer."
The Nature Conservancy was awarded a $100,000 grant for a project to research best practices for designing solar farms that are hospitable to native habitat and wildlife.
"Solar energy is crucial to reducing carbon emissions, but solar installations can also benefit nature in other ways by being wildlife and pollinator friendly. This research will give us the data to determine how to maximize these benefits," said Katherine Skinner, executive director, Nature Conservancy in North Carolina.
The outcome of the Nature Conservancy project will be a white paper to share findings with the renewable energy community so solar developers can implement proven, best practices.
In Southeast Raleigh, The Conservation Fund was awarded $60,000 for a project that will connect two disenfranchised neighborhoods to Walnut Creek Wetland Park as part of a community-wide effort to improve access to natural resources in Southeast Raleigh.
"The Conservation Fund greatly appreciates this grant from the Duke Energy Foundation for our Parks with Purpose project in Southeast Raleigh," said Bill Holman, executive director, The Conservation Fund. "This grant will help us and our many partners connect the Walnut Creek Wetland Park to the Rochester Heights and Biltmore Hills neighborhoods across Walnut Creek, remove invasive species in the park, restore wetland habitat and support development of a new park entrance on Bailey Drive."
Powerful Communities: Nature Grant Recipients
Organization | Description | Grant Award | Region Served |
Asheville GreenWorks | Protect and promote the urban forest in Asheville through education and outreach | $50,000 | Buncombe Co. |
Burke County Public Schools | Restore the Enola Trail Wetlands Area to eliminate erosion and treat runoff | $40,000 | Burke Co. |
Catawba Lands Conservancy | Expand pollinator habitat through 10 acres of electric utility corridors | $16,000 | Gaston Co., Lincoln Co., |
Conservation Legacy | Engage young people in hands-on conservation work and leadership | $50,000 | Statewide |
Conservation Trust for North Carolina | Support a collaborative, pilot project to create a community-driven plan that limits | $40,000 | Eastern NC |
Ellerbe Creek Watershed Association | Reduce stormwater runoff, sediment and pollutants from entering South Ellerbe | $30,000 | Durham Co. |
Friends of the Durham Public | Improve stormwater management and habitat conservation by transforming a | $20,000 | Durham Co. |
Friends of the Wallace Parks | Develop a master plan for Boney Mill Pond Park focused on conservation and | $26,000 | Duplin Co., Pender Co. |
Macon County Schools | Restore Porter's Creek Stream to decrease storm water runoff, improve habitant | $25,000 | Macon Co. |
Mount Holly Community | Expand the Mount Holly Greenway System through additional amenities for | $15,000 | Gaston Co. |
Nature Conservancy | Partner to research best practices for designing solar farms that support habitat | $100,000 | Statewide |
North Carolina Coastal Land Trust | Restore the Atlantic White Cedar and Longleaf Pine in our coastal forests | $25,000 | Eastern NC |
North Carolina Urban Forest Council | Plant trees as part of storm recovery in NC coastal communities | $45,000 | Eastern NC |
North Carolina Wildlife | Build coastal resilience through community conservation chapters in eastern | $50,000 | Eastern NC |
Piedmont Triad Regional | Develop the Piedmont Triad Blueways and Piedmont Triad Outdoor Recreation | $20,000 | Piedmont-Triad |
Rutherford County Tourism | Expand access to the Broad River Paddle Trail through an additional access point | $25,000 | Rutherford Co. |
The Conservation Fund | Build a park with purpose in Southeast Raleigh: Connecting Walnut Creek Wetland | $60,000 | Wake Co. |
Town of Black Mountain | Stabilize the banks of the Swannanoa River, provide ADA access and educational | $50,000 | Buncombe Co. |
Town of Chapel Hill | Celebrate the Chapel Hill's 200th birthday by planting 200 trees to reduce carbon | $20,000 | Orange Co. |
Town of Grifton | Reclaim vacant lots acquired through FEMA as wetlands to mitigate flooding, reduce | $50,000 | Lenoir Co., Pitt Co. |
TreesCharlotte | Distribute 800 trees to Charlotte residents to improve air quality and expand the | $25,000 | Mecklenburg Co. |
Triangle Land Conservancy | Increase the diversity of native species at the Sarah and Bailey Williamson | $25,000 | Wake Co. |
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 150 company, Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact:
Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/3/2019Duke Energy Carolinas requests rate review by North Carolina Utilities Commission to build cleaner, more reliable energy future
Source: PR Newswire
CHARLOTTE, N.C., Sept. 30, 2019 /PRNewswire/ -- Duke Energy Carolinas today asked North Carolina regulators in a filing to review its rates as the company continues working to reduce carbon emissions, strengthen the grid and improve the customer experience.
"Duke Energy is committed to a smarter, cleaner energy future for North Carolina," said Stephen De May, Duke Energy's North Carolina president. "We have significantly reduced our carbon footprint and have proposed additional steps to further transition to cleaner energy sources. We are also modernizing the electric grid to improve reliability, help avoid power outages and speed restoration when outages do occur."
Delivering on this commitment requires smart investments and collaborative planning, so the filing with the North Carolina Utilities Commission (NCUC) requests to increase annual revenues by about $291 million, for an overall average rate increase across all customer groups of 6.0%. The company's request has been reduced by customer savings of 3.2% resulting from federal and state tax reform.
Duke Energy Carolinas rates will remain below the Southeast Atlantic region and national averages if the NCUC approves this increase.
The specific increase for individual customer groups would vary, depending on the rate they pay. The average rate increase from the proposed changes for residential customers would be 6.7%, while commercial and industrial customers would see an average increase of 5.0%.
If the proposal is approved by state regulators, a residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $116.26 per month, reflecting an increase of $8.06 per month, on average.
The NCUC will ultimately set new customer rates after conducting a review process that includes multiple opportunities for public comment and a determination of whether the company's investments were prudent and in customers' best interest.
The rate increase would cover costs Duke Energy has incurred on behalf of customers to shift to cleaner energy, improve reliability and grid resiliency and provide more convenience for customers.
Shifting to cleaner energy
Improving reliability and grid resiliency
Providing customers more convenience
Provisions for low-income customers
Today's rate filing includes a number of proposals intended to reduce the impact of rising costs on low- and fixed-income customers. In addition to eliminating direct debit and credit card bill-paying fees for residential customers, the filing proposes no increase in the monthly basic service charge. In prior rate filings, the service charge has been the subject of concerns raised by customer advocates worried that increases in this charge posed disproportionate impacts on low- and fixed-income customers.
The filing also requests that the NCUC convene a broad stakeholder workshop to evaluate additional regulatory programs and protections for low-income customers, ranging from efficiency programs to potential new tariffs and other initiatives.
"We know rising costs can be difficult for many customers, but particularly challenging for our customers on low and fixed incomes," De May said. "We have heard the concerns and are working to minimize the impact of these important investments on our customers least able to accommodate rate increases. We look forward to the next steps in this process."
Customers can visit duke-energy.com/home/savings for energy-saving tips and programs. The company also has programs to help customers with managing their bills. Learn more at duke-energy.com/home/billing/special-assistance.
Duke Energy Carolinas serves 2 million households and businesses in central and western North Carolina. Duke Energy Progress, which serves electric customers in parts of central and eastern North Carolina and in the Asheville region, will file a similar request to adjust rates in October.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/30/20199/30/2019 - Duke Energy Foundation's 'Powerful Communities' program awards over $269,000 for nature grants in Indiana
Duke Energy Foundation's 'Powerful Communities' program awards over $269,000 for nature grants in Indiana
Source: PR Newswire
PLAINFIELD, Ind., Sept. 30, 2019 /PRNewswire/ -- The Duke Energy Foundation has awarded 16 "Powerful Communities" program grants totaling $269,523 for programs to support a wide range of environmental initiatives, including projects to support water quality, conservation, and habitat and forest restoration.
"Enhancing and conserving our natural resources is important as we provide safe, reliable power to our customers," said Stan Pinegar, Duke Energy state president for Indiana. "Helping to fund these programs raises the quality of life for all residents in a community."
One of the recipients of a $30,000 grant is the Central Indiana Land Trust to make habitat restoration and improvements in Parke, Shelby and Johnson counties.
"This grant from the Duke Energy Foundation will help amplify our efforts to protect central Indiana's natural areas," said Cliff Chapman, executive director of the Central Indiana Land Trust. "Connecting people to the wonder of nature in the 21st century is more important than ever."
Other organizations receiving the 2019 foundation grants include:
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/30/20199/20/2019 - Duke Energy Renewables announces contract with AT&T for Frontier Windpower II in Oklahoma
Duke Energy Renewables announces contract with AT&T for Frontier Windpower II in Oklahoma
Source: PR Newswire
CHARLOTTE, N.C., Sept. 20, 2019 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), today announced that AT&T has signed a 15-year, 160-megawatt (MW) virtual power purchase agreement (VPPA) for Frontier Windpower II. Duke Energy Renewables is building the 350-MW Frontier II in Kay County, Okla.
Ball Corporation previously announced its commitment to Frontier II with a 15-year VPPA for 161 MW of the project.
The project is an expansion of Frontier Windpower, which has been operational since 2016. Once complete, Frontier I and II will generate a total of 550 MW of wind energy – enough to power approximately 193,000 homes.
"Frontier II will deliver clean energy for Oklahoma and significant economic benefits to the area," said Rob Caldwell, president of Duke Energy Renewables. "We're pleased to be working with AT&T and Ball Corporation on the Frontier II project, which will be located in an area that has some of the best wind resources in the country."
"Last year we said we were going big on renewable energy, and our virtual power purchase agreement with Duke Energy Renewables reiterates our continued dedication to doing just that," said Joe Taylor, vice president of global infrastructure optimization and implementation, AT&T. "This agreement helps solidify AT&T's position as one of the largest corporate purchasers of renewable energy in the U.S., and underscores our companywide commitment to helping address climate change and creating a better, more sustainable world."
"The renewable energy agreement with Duke Energy Renewables places Ball among the leading corporate buyers of renewable energy in our industry and the U.S., marking a critical moment in our sustainability journey," said John A. Hayes, chairman, president and CEO of Ball Corporation. "Utilizing renewable energy is an important lever to further enhance the sustainability credentials of our packaging and demonstrates our commitment to have the aluminum can recognized as the most sustainable package."
Construction for Frontier II is underway, and the wind project will be fully operational by December 2020.
During peak construction, the wind project will create approximately 250 jobs.
Nordex Group will supply 74 4.8-MW wind turbines for the site.
The 350-MW Frontier Windpower II project will produce enough energy to power about 123,000 average homes.
Amshore US Wind provided development support for the project, and Wanzek Construction is the contractor.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
AT&T
AT&T Inc. (NYSE:T) is a diversified, global leader in telecommunications, media and entertainment, and technology. It executes in the market under four operating units. WarnerMedia's HBO, Turner and Warner Bros. divisions are world leaders in creating premium content, operate one of the world's largest TV and film studios, and own a world-class library of entertainment. AT&T Communications provides more than 100 million U.S. consumers with entertainment and communications experiences across TV, mobile and broadband services. Plus, it serves nearly 3 million business customers with high-speed, highly secure connectivity and smart solutions. AT&T Latin America provides pay-TV services across 11 countries and territories in Latin America and the Caribbean, and is the fastest growing wireless provider in Mexico, serving consumers and businesses. Xandr provides marketers with innovative and relevant advertising solutions for consumers around premium video content and digital advertising through its AppNexus platform.
AT&T products and services are provided or offered by subsidiaries and affiliates of AT&T Inc. under the AT&T brand and not by AT&T Inc. Additional information is available at about.att.com. © 2019 AT&T Intellectual Property. All rights reserved. AT&T, the Globe logo and other marks are trademarks and service marks of AT&T Intellectual Property and/or AT&T affiliated companies. All other marks contained herein are the property of their respective owners.
Ball Corporation
Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 17,500 people worldwide and reported 2018 net sales of $11.6 billion. For more information about Ball, visit www.ball.com, or connect with us on Facebook or Twitter.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/20/20199/19/2019 - Duke Energy will seek to renew nuclear plant licenses to support its carbon reduction goals
Duke Energy will seek to renew nuclear plant licenses to support its carbon reduction goals
Source: PR Newswire
CHARLOTTE, N.C., Sept. 19, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) announced today it will seek to renew the operating licenses of the 11 reactors it operates at six nuclear stations in the Carolinas for an additional 20 years.
"Our nuclear power plants have safely and reliably provided electricity to our Carolinas customers for decades," said Preston Gillespie, Duke Energy's chief nuclear officer. "These plants generate clean and cost-effective power, provide thousands of well-paying jobs, and produce substantial economic benefits for the Carolinas. Renewing the licenses of these plants is important for our customers, communities and environment."
The first Duke Energy nuclear power plants will approach the end of their current operating licenses in the early 2030s. Rigorous, ongoing preventive maintenance programs across the nuclear fleet and technology upgrades and investments over the years at all stations have contributed to their continuing strong operating performance. In 2018, Duke Energy's nuclear fleet marked its 20th consecutive year with a fleet capacity factor – a measure of reliability – greater than 90%.
The company expects to submit the license renewal application for Oconee Nuclear Station in 2021, followed by its other nuclear stations. Oconee is the company's largest nuclear station, with three generating units that produce more than 2,500 megawatts (MW).
Critical component in reducing carbon emissions
Duke Energy's nuclear fleet plays an important role in the company's efforts to lower carbon emissions. In 2018, the Duke Energy nuclear fleet generated more than 72 billion kilowatt-hours of electricity and avoided the release of about 54 million tons of carbon dioxide – equivalent to keeping more than 10 million passenger cars off the road. The company has set aggressive carbon reduction goals of at least 50% by 2030 and net-zero by 2050, and keeping its nuclear fleet operating is key to achieving these goals.
Significant economic benefits
Renewing the nuclear licenses will provide significant value to Duke Energy customers, as well as continue to support Carolinas communities through jobs, tax revenues and partnerships. Duke Energy employs about 5,000 workers in its nuclear group, with additional contract workers supporting refueling outages and project work.
In 2018, the company also paid more than $300 million in property and payroll taxes associated with the nuclear stations, benefiting local governments and school districts. In addition, nuclear employees support the communities where they live and work by donating time and funds through sponsorships and volunteer activities.
License renewal process
U.S. nuclear facilities are licensed by the U.S. Nuclear Regulatory Commission and were originally licensed to operate for 40 years based on economic considerations, not technology limitations. Regulations allow nuclear licensees to renew their licenses for up to 20 years at a time. All Duke Energy-operated nuclear units have received one renewed license for an additional 20 years. The process to renew licenses for a second 20 years requires a comprehensive analysis and evaluation to ensure the units can safely operate for the extended operation period. The review process begins with an acceptance review of the application once received, with a goal to complete the subsequent license renewal application review within 18 months of docketing.
Duke Energy's nuclear fleet
Station | Location | Capacity |
Brunswick | Southport, N.C. – Brunswick County | 1,870 MW |
Catawba * | York, S.C. – York County | 2,310 MW |
Harris | New Hill, N.C. – Wake County | 964 MW |
McGuire | Huntersville, N.C. – Mecklenburg County | 2,316 MW |
Oconee | Seneca, S.C. – Oconee County | 2,554 MW |
Robinson | Hartsville, S.C. – Darlington County | 741 MW |
* Catawba is jointly owned by North Carolina Municipal Power Agency Number One, North Carolina Electric Membership Corporation, Piedmont Municipal Power Agency and Duke Energy
For photos and fact sheets for each of Duke Energy's six nuclear sites, visit the Duke Energy News Center.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-looking information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Rita Sipe
Office: 704.382.8609 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/19/20199/18/2019 - Sprint and Duke Energy Renewables sign agreement on new 182-MW wind power project in Texas
Sprint and Duke Energy Renewables sign agreement on new 182-MW wind power project in Texas
Source: PR Newswire
OVERLAND PARK, Kan. and CHARLOTTE, N.C., Sept. 18, 2019 /PRNewswire/ -- Sprint (NYSE: S) and Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), today announced a 12-year virtual power purchase agreement (VPPA) for 173.3 megawatts (MW) of new wind energy. Duke Energy Renewables will build, own and operate the 182-MW Maryneal Windpower project located in Nolan County, Texas, that will come online in 2020.
The agreement will enable Sprint to significantly reduce its carbon footprint and achieve approximately 30 percent renewable energy for its total electricity portfolio. The project will provide enough renewable energy to power the equivalent of more than 54,000 U.S. homes and will reduce carbon emissions equivalent to removing more than 96,000 cars from the road annually.
"Sprint is serious about minimizing its carbon impact, and operating as a more sustainable company," said Sprint Foundation Chairman Doug Michelman. "This wind project will help us make substantial progress towards offsetting the energy we use across our operations, including our headquarters, retail stores, call centers and cell towers."
The Maryneal project increases Duke Energy Renewables' U.S. wind capacity to more than 3,000 MW. Full notice to proceed with construction will begin in early 2020 and the wind project will be fully operational by December 2020. During peak construction, the project will create approximately 200 jobs.
"Wind power is contributing to a cleaner, stronger U.S. economy and the Maryneal Windpower project further expands our renewable energy presence in Texas," said Rob Caldwell, president of Duke Energy Renewables. "We're excited to work with Sprint to create jobs, strengthen the local economy and generate clean energy."
The long-term VPPA complements Sprint's longstanding sustainability strategy, originally launched in 2008, which includes reducing greenhouse gas (GHG) emissions, conserving natural resources such as water and paper, eliminating waste from all corners of the business and responsibly recycling waste when possible. Schneider Electric Energy and Sustainability Services advised Sprint on the Maryneal VPPA, supporting project selection and negotiations.
Nordex Acciona will supply 38 4.8-MW wind turbines for the site. Wanzek Construction is the contractor for the project.
"We are pleased to be working together with Duke Energy Renewables, one of the most experienced developers in North America and part of one of the largest energy holding companies in the U.S. In addition, both companies have the same goals: to build renewable energy sources for the future with solid technology. The highly efficient N149/4.0-4.5 turbine is the ideal choice for this and for many potential project sites in the USA," says Patxi Landa, CSO of the Nordex Group.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
For more information on Sprint's energy and Corporate Social Responsibility (CSR) efforts, please visit https://newsroom.sprint.com/csr/.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Sprint:
Sprint (NYSE: S) is a communications services company that creates more and better ways to connect its customers to the things they care about most. Sprint served 54.3 million connections as of June 30, 2019 and is widely recognized for developing, engineering and deploying innovative technologies, including the first wireless 4G service from a national carrier in the United States; leading no-contract brands including Virgin Mobile USA, Boost Mobile, and Assurance Wireless; instant national and international push-to-talk capabilities; and a global Tier 1 Internet backbone. Today, Sprint's legacy of innovation and service continues with an increased investment to dramatically improve coverage, reliability, and speed across its nationwide network and commitment to launching a 5G mobile network in the U.S. You can learn more and visit Sprint at www.sprint.com or www.facebook.com/sprint and www.twitter.com/sprint.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Sprint
Article Date
9/18/2019Duke Energy aims to achieve net-zero carbon emissions by 2050
Source: PR Newswire
CHARLOTTE, N.C., Sept. 17, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced an updated climate strategy with a new goal of net-zero carbon emissions from electric generation by midcentury. The company also is accelerating its near-term goal by cutting its carbon dioxide emissions by half or more from 2005 levels by 2030.
This follows strong progress the company has made in reducing carbon emissions 31% since 2005. The reduction Duke Energy has already achieved meets or exceeds the standards of the former Clean Power Plan and the 2025 U.S. commitment to the Paris Agreement.
The company's 2017 goal to reduce carbon emissions 40% by 2030 was one of the industry's most ambitious at the time. Since then, sustained, low natural gas prices and declining costs for renewables and storage have allowed the company to accelerate that goal to at least 50% by 2030.
"We are making a cleaner energy future a reality for our customers and communities," said Lynn Good, chairman, president and CEO. "A diverse mix of renewables, nuclear, natural gas, hydro and energy efficiency are all part of this vision, and we'll take advantage of economical solutions to continue that progress. In the longer-term, innovation and new technologies will be critical to a net-zero carbon future."
The company's net-zero goal represents one of the most significant commitments to reducing carbon dioxide emissions in the U.S. power sector. Achieving these goals requires a thoughtful approach that pairs today's technologies with the research and development needed for tomorrow. The company expects it can achieve significant reductions in carbon emissions by 2050 with the technology that exists today.
"Getting to net-zero carbon emissions, while ensuring energy remains reliable and affordable, will require new technologies. That's the very reason we need to act now," Good said. "We must continue leveraging today's technologies while sustaining investment in innovation for this vision to become reality."
This video message from CEO Lynn Good provides leadership perspective on this important issue.
Duke Energy's path to a net-zero carbon future
Transforming our energy infrastructure is no small task, and these steps will enable the appropriate balance between pace and cost, reliability and innovation.
For details on the company's comprehensive approach to tackling climate change through adaptation, mitigation and innovation, visit duke-energy.com/climate.
Duke Energy customers benefit from a diverse mix of energy sources that has kept electricity prices well below the national average. This has allowed the company to retire 49 coal-fired units totaling 6,190 megawatts since 2010, replacing those with flexible natural gas and growing renewables.
The company will work with regulators and stakeholders in the states it serves and will outline proposed steps in the resource plans it files. Phasing out remaining coal generation will occur gradually and on different timelines in the states Duke Energy serves to protect customer rates and reliability.
Climate and energy leaders expressed their support for Duke Energy's updated goals:
"The Clean Air Task Force congratulates Duke Energy for its significant leadership as the nation's largest electric company in making a science-based commitment to eliminating its net carbon emissions by midcentury. With Duke's announcement, electricity providers representing more than 30% of U.S. electric sales are now committed by pledge or law to fully phasing out climate-warming emissions. We look forward to working with Duke to advance the technology and policies needed to make this transition swift and affordable." -- Armond Cohen, executive director of Clean Air Task Force
"Over the past 12 months, we've witnessed rapid growth in the number of U.S. electric utilities making commitments to significant carbon-reduction goals. We congratulate Duke Energy for their announcement joining this group. As one of the nation's largest utilities, their commitment will have a meaningful impact on efforts to achieve a carbon-free energy system." -- Julia Hamm, president and CEO of the Smart Electric Power Alliance
"We applaud Duke Energy's plan to rapidly expand clean energy technology with an eye toward net-zero carbon emissions by 2050. Coordinated investments made today in low-cost renewable energy sources, electric grid modernization, energy storage and electric vehicle charging infrastructure will lead to a cleaner and more cost-effective electricity supply for American consumers." -- Tom Kiernan, CEO of the American Wind Energy Association
"Duke Energy's leadership is taking the United States a great step forward. To reach our midcentury goals to reduce greenhouse gas emissions and avoid the worst effects of climate change, it's critical that electricity providers lead the way. Vehicle electrification and heating and cooling in the residential, commercial and industrial sectors all depend on a decarbonized power source. When one of the largest energy holdings companies in the United States and the largest by number of customers served says it's going net zero, the world takes notice." -- Bob Perciasepe, president of Center for Climate and Energy Solutions
"With their bold commitment to net-zero carbon emissions by 2050, Duke Energy continues to lead in American power. Market signals like these demonstrate that transitioning to clean energy can be as positive for affordability and reliability as it is for addressing climate change. ClearPath applauds Duke Energy's plan to lean in on energy innovation to create the new technologies needed to achieve their goal. We look forward to working alongside Duke Energy to encourage federal investments in clean technology. Innovations in advanced nuclear, carbon capture for coal and gas and battery storage will ensure this clean path is affordable for consumers." -- Rich Powell, executive director of ClearPath
"Kudos to Duke Energy for its new plan to deploy more renewable power and accelerate its carbon reduction goals. This is an important step toward the transition to a carbon-free electricity grid, which is at the heart of any effective climate solution." -- Gregory Wetstone, president and CEO of the American Council on Renewable Energy
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Erin Culbert
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/17/2019Duke Energy Florida customers' electric rates will drop in 2020
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 16, 2019 /PRNewswire/ -- Duke Energy Florida (DEF) customers will see lower bills in 2020.
The company plans to reduce Florida rates by more than 3% while adding more solar power and making grid improvements to enhance reliability, security and resilience in 2020 and beyond.
DEF has filed a proposal with the Florida Public Service Commission that demonstrates how the company is delivering on its promise to provide a cleaner, more resilient energy future.
The company is offering more value for customers through reduced fuel costs and investments in solar and smart-thinking technology.
Rates for 2020 will reflect the new Lake Placid and Trenton Solar Power Plants, grid improvements, grid reliability investments, and DEF's annual fuel, capacity, energy conservation and environmental compliance clause financials.
If approved, typical residential customers using 1,000 kWh will see a decrease of $4.69 cents in their monthly bill beginning January 2020.
Commercial and industrial customers will see a decrease between 3% and 9%, however, the specific bill impact will vary depending on several factors.
"We know how important affordable energy is to our customers' daily lives," said Catherine Stempien, Duke Energy Florida state president. "We are proud to provide electricity at rates lower than the national average, while also making investments to increase the amount of energy we get from renewable sources, to enhance the security of our energy supply, and to bring new technologies to our Florida systems."
Building A Smarter Energy Future®
Duke Energy Florida anticipates the Lake Placid Solar Power Plant in Highlands County, Fla. will be serving customers in December 2019. Once operational, the facility will be 45 megawatts (MWs) in size, which is enough to power more than 12,000 homes at peak production.
The Company also anticipates the Trenton Solar Power Plant in Gilchrist County, Fla. will begin serving customers in December 2019. Once operational, the facility will be 74.9 MWs, which is enough to power more than 23,000 homes at peak production. The Lake Placid and Trenton facilities are part of DEF's plan to add 700 MWs of cost-effective solar in Florida through 2022.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/16/20199/16/2019 - Duke Energy makes list of North America's top sustainable companies for 14th straight year
Duke Energy makes list of North America's top sustainable companies for 14th straight year
Source: PR Newswire
CHARLOTTE, N.C., Sept. 16, 2019 /PRNewswire/ -- Building on its long-running record of sustainability leadership, Duke Energy was recently named to the Dow Jones Sustainability Index (DJSI) for North America for the 14th consecutive year.
"The Dow Jones Sustainability Index thoroughly looks at hundreds of companies each year. To be on the North America list for 14 straight years is a clear indication Duke Energy employees are incorporating sustainability into their daily work to benefit our customers and communities," said Cari Boyce, Duke Energy's senior vice president, stakeholder strategy and sustainability, and president, Duke Energy Foundation.
"We are continuing to promote renewable energy, energy efficiency and lower carbon emissions – leading by example in the energy industry," she added.
Since 1999, the DJSI has evaluated the sustainability of leading companies worldwide.
In selecting the top performers in each business sector, the DJSI reviews companies on several general and industry-specific topics related to economic, environmental and social dimensions.
Among the topics are corporate governance, innovation management, environmental policy, climate strategy and corporate citizenship.
The index is compiled annually by S&P Dow Jones and Zurich-based RobecoSAM (Sustainable Asset Management).
Since 2007, Duke Energy has published an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more.
The 2018 report is available online.
Some of the highlights covered:
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
9/16/2019Duke Energy Renewables acquires 200-MWac Texas solar project from Canadian Solar
Source: PR Newswire
CHARLOTTE, N.C. and GUELPH, Ontario, Sept. 12, 2019 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), is expanding its solar energy portfolio by acquiring the 200-megawatt (MWac) / 266-megawatt peak (MWp) Rambler solar project from Recurrent Energy, a wholly-owned subsidiary of Canadian Solar Inc. ("Canadian Solar") (NASDAQ: CSIQ). The project will be located in Tom Green County, Texas and is expected to achieve commercial operation in mid-2020.
The energy generated from the Rambler solar project will be sold to a customer under a 15-year agreement. The 200-MWac project will utilize more than 733,000 of Canadian Solar's high efficiency bifacial BiKu modules across approximately 1,700 acres west of San Angelo, Texas. Rambler will power the equivalent of 40,000 homes, and Duke Energy Renewables will provide long-term operations and maintenance services to the project.
"We're pleased to continue our expansion of solar energy resources in Texas, which is seeing increasing demand for power," said Rob Caldwell, president of Duke Energy Renewables. "In addition to generating clean energy, this project will also bring significant economic benefits to the state."
The project is expected to employ 400 workers at peak construction. Along with indirect economic benefits that accompany solar project development – such as increased local spending in the service and construction industries – Rambler will also directly provide several million dollars to Tom Green County and to the local school district over the 40-year life of the project.
"With over one gigawatt of contracted projects in ERCOT's service territory, we are proud that Recurrent Energy continues to lead solar energy development in Texas, one of the fastest growing U.S. states for the solar industry," said Shawn Qu, chairman and CEO of Canadian Solar. "It has been our pleasure to rekindle our long relationship with Duke Energy Renewables' talented team through this strategic transaction."
The Rambler solar project, which is the fifth acquisition by Duke Energy Renewables this year, will be the company's fourth solar generation facility in Texas. The Rambler solar project also represents one of seven large-scale projects in Recurrent Energy's development portfolio within the state.
Canadian Solar expects to recognize the majority of the revenue from the sale of the project in the third quarter of 2019.
Since 2010, Duke Energy and Recurrent Energy have now partnered on six solar projects, including four equity transactions. Duke Energy has also purchased equity stakes in solar projects developed by Recurrent Energy that include Ajo and Bagdad located in Arizona and the Sunset Reservoir project located in San Francisco. Duke Energy subsidiaries have also purchased electricity from the North Carolina IS-42 and NC 102 projects, for which Recurrent Energy played a development or construction oversight role.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Recurrent Energy
Recurrent Energy is a leading utility-scale solar and energy storage project developer, delivering competitive, clean electricity to large energy buyers. Based in the U.S., Recurrent Energy is a wholly owned subsidiary of Canadian Solar Inc. and functions as Canadian Solar's U.S. project development arm. Recurrent Energy has approximately 5 GW of solar and storage projects in development in the U.S. Additional details are available at www.recurrentenergy.com.
Canadian Solar was founded in 2001 in Canada and is one of the world's largest and foremost solar power companies. It is a leading manufacturer of solar photovoltaic modules and provider of solar energy solutions and has a geographically diversified pipeline of utility-scale power projects in various stages of development. Over the past 18 years, Canadian Solar has successfully delivered over 34 GW of premium quality modules to customers in over 150 countries around the world. Canadian Solar is one of the most bankable companies in the solar industry, having been publicly listed on NASDAQ since 2006. For additional information about the Company, follow Canadian Solar on LinkedIn or visit www.canadiansolar.com.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Canadian Solar's Safe Harbor/Forward-Looking Statements
Certain statements in this press release are forward-looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially. These statements are made under the "Safe Harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "believes," "expects," "anticipates," "intends," "estimates," the negative of these terms, or other comparable terminology. Factors that could cause actual results to differ include general business and economic conditions and the state of the solar industry; governmental support for the deployment of solar power; future available supplies of high-purity silicon; demand for end-use products by consumers and inventory levels of such products in the supply chain; changes in demand from significant customers; changes in demand from major markets such as Japan, the U.S., India and China; changes in customer order patterns; changes in product mix; capacity utilization; level of competition; pricing pressure and declines in average selling prices; delays in new product introduction; delays in utility-scale project approval process; delays in utility-scale project construction; delays in the completion of project sales; continued success in technological innovations and delivery of products with the features customers demand; shortage in supply of materials or capacity requirements; availability of financing; exchange rate fluctuations; litigation and other risks as described in the Company's SEC filings, including its annual report on Form 20-F filed on April 25, 2019. Although the Company believes that the expectations reflected in the forward looking statements are reasonable, it cannot guarantee future results, level of activity, performance, or achievements. Investors should not place undue reliance on these forward-looking statements. All information provided in this press release is as of today's date, unless otherwise stated, and Canadian Solar undertakes no duty to update such information, except as required under applicable law.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800-559-3853
Recurrent Energy Contact: Jesse Prier
Email: PR@RecurrentEnergy.com
Office: 415.814.1067
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SOURCE Duke Energy
Article Date
9/12/2019Transit bus charging in Asheville gets $200,000 boost from Duke Energy
Source: PR Newswire
CHARLOTTE, N.C., Sept. 10, 2019 /PRNewswire/ -- A $200,000 grant from Duke Energy will help the Asheville Redefines Transit (ART) system fund five electric bus-charging stations that were installed by the city earlier this year.
"Asheville is making great strides to add electric buses to its fleet," said Lang Reynolds, director, Electrification Strategy for Duke Energy. "Charging infrastructure is a critical component of this effort, and Duke Energy is pleased our grant can assist."
Since 2016, Duke Energy has expanded charging for electric vehicles and buses throughout North Carolina. The program helped fund almost 200 public electric vehicle charging stations in North Carolina, and also helped the city of Greensboro with transit bus charging.
"The City of Asheville is extremely grateful to Duke Energy to receive funding from its electric charging grant program. This funding is key to helping us run electric buses as part of our overall fleet and help us meet our sustainability goals," said Jessica Morriss, assistant director of Transportation for the City of Asheville.
ART currently operates 17 vehicles in its peak fleet and serves primarily the City of Asheville with some service that extends to Black Mountain. The Duke Energy funding was part of a 2015 settlement with the U.S. Environmental Protection Agency and environmental groups.
The legacy grant funding is separate from the $76 million Electric Transportation pilot being considered now by the N.C. Utilities Commission. The current proposal builds upon lessons learned during the earlier program. It will expand municipal and school bus charging infrastructure, as well as expand residential and public charging for passenger vehicles. Read about the current proposal.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
9/10/2019Duke Energy restores power to more than 288,000 customers in eastern North Carolina following Hurricane Dorian
Source: PR Newswire
CHARLOTTE, N.C., Sept. 7, 2019 /PRNewswire/ -- Duke Energy has restored power to more than 288,000 North Carolina customers who lost electricity when Hurricane Dorian's strong winds battered the state's eastern region Thursday and Friday.
As of 9 a.m. Saturday, 12,000 customers remained without power.
Duke Energy estimates it will restore power by late Sunday to nearly all customers – but most sooner.
Workers continue to repair damaged power lines and other electrical equipment in multiple counties this weekend.
Duke Energy estimates it will restore power to customers (whose properties can receive power) in the following counties by 11 p.m. Saturday (tonight): Brunswick and New Hanover.
The company estimates it will restore power to customers (whose properties can receive power) in the following counties by 11 p.m. Sunday: Beaufort, Carteret, Craven, Duplin, Jones, Onslow, Pamlico and Pitt.
Power to most customers will be restored sooner than those estimates.
Impacted customers who are registered to receive Duke Energy text alerts will receive a text once an estimated restoration time has been established for their property.
Latest power restoration information – https://www.duke-energy.com/outages/current-outages.
Additional storm information – https://www.dukeenergyupdates.com/.
"We greatly appreciate our customers' continued patience," said Jason Hollifield, Duke Energy's incident commander for the Carolinas. "Our crews are working as quickly as possible to safely restore power to all of our customers across eastern North Carolina."
Drivers urged to use caution near repair crews
North Carolina and South Carolina laws require drivers to slow down and move their vehicles over as far as safely possible when approaching and passing roadside utility repair crews – as well as other emergency responders such as fire, medic and law enforcement.
Safety reminders, power line dangers
Duke Energy also urged customers to focus on general safety – duke-energy.com/safety-and-preparedness/storm-safety
Power outage reporting
Customers can report power outages by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Duke Energy (NYSE: DUK) is headquartered in Charlotte, N.C. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/7/2019Duke Energy projects Hurricane Dorian could cause more than 700,000 power outages in Carolinas' eastern regions
Source: PR Newswire
CHARLOTTE, N.C., Sept. 4, 2019 /PRNewswire/ -- Duke Energy today projected that approaching Hurricane Dorian could cause more than 700,000 power outages – some possibly lasting several days – in eastern areas of North Carolina and South Carolina, based on the storm's current forecasted track.
The company projects power outages are likely to occur Thursday and Friday:
The hurricane is currently forecasted to exit the Carolinas Friday afternoon or evening.
"Hurricane Dorian is a historic storm headed straight up the Carolina coastline," said Duke Energy meteorology director Nick Keener. "This slow-moving, powerful storm will bring hurricane- and tropical-storm-force winds, and rain, over a large area of our coastal, Pee Dee and Triangle regions."
(Video of Duke Energy meteorology director Nick Keener discussing hurricane. Additional information – https://www.dukeenergyupdates.com/)
Power outage projections are based on the company's storm modeling tool, which analyzes storm track, storm size, wind speed, wind-field size, ground saturation and the history of previous hurricanes in the Carolinas.
More than 9,000 power restoration workers in Carolinas
Duke Energy is moving an extra 4,000 repair workers from 23 states and Canada to the Carolinas in anticipation of the hurricane's arrival.
The crews will complement the 5,000 Duke Energy lineworkers and tree personnel permanently based in the Carolinas – creating a total workforce of almost 9,000.
Before power can be restored, crews first must assess the extent of damage – which can sometimes take 24 hours or more – to determine which crews, equipment and supplies are needed to expedite repairs.
Crews will restore power, where possible, while completing damage assessment.
Safety recommendations
How to report power outages
Customers can report power outages by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Duke Energy (NYSE: DUK) is headquartered in Charlotte, N.C. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/4/2019Duke Energy releases all outside crews in Florida; plans to resume normal business operations in state
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 4, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) today released all outside workers who traveled to Florida and were pre-staged to assist with Hurricane Dorian power restoration in the state.
Duke Energy Florida's 2,200 crews and contractors are adequate to respond to any additional Hurricane Dorian-related power outages that occur today.
Workers from Duke Energy's Midwest contingent today will travel to the Carolinas to assist with power restoration after the hurricane's anticipated impact to those states.
The company prepared for Hurricane Dorian's Florida impact, which had the potential to bring devastating damage and outages to the state, by bringing in approximately 4,300 outside crews before the storm.
With the final shift in Hurricane Dorian's Florida forecast and its minimal impact, Duke Energy continued to evaluate its personnel needs to respond to customer outages in the state. The company has "right-sized" its personnel resources to restore power as quickly and safely as possible for Florida customers.
The company Thursday plans to resume normal business operations, including customer service orders and requests for power connections and disconnections.
Outage reporting
Customers who experienced an outage during the storm can report it by:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/4/2019Duke Energy Kentucky proposes new customer benefits, seeks public review of electric base rates as it continues multimillion-dollar grid improvements in Northern Kentucky
Source: PR Newswire
CINCINNATI, Sept. 3, 2019 /PRNewswire/ -- As a result of its ongoing investments in the region's electric delivery system and power generation stations, Duke Energy Kentucky today filed a request for the Kentucky Public Service Commission to perform a public review of the company's rates.
Northern Kentucky's residents, businesses and communities are benefiting from the company's ongoing strategic improvements to the electric grid and its generating plants. This work will enable Duke Energy Kentucky to continue to deliver safe, reliable and efficient service to all customers in this growing region.
The company asked the commission for permission to increase base rates by about $45.6 million – or an average of about 12.5%. If the proposal is approved, a residential customer who uses an average of 1,000 kilowatt-hours of electricity each month would pay about $112.08 per month, an increase of about $15.62.
"We're making strategic, data-driven investments to improve reliability and protect our system against cyber and physical threats," said Amy Spiller, president of Duke Energy Ohio/Kentucky. "Our work is paying off for customers by reducing the frequency and length of outages and delivering more choices and control when it comes to their energy use."
Company proposes new programs and to eliminate "convenience fee" when paying monthly bill
In addition to recovering the company's multimillion-dollar investments across Northern Kentucky, Duke Energy Kentucky's rate request contains proposals that aim to add value for its customers, including:
"Our customers want us to do more when it comes to advanced energy technologies and improving their experiences with our company," said Spiller. "We've responded with technologies and programs to make it easier to pay bills and help our customers and communities experience and employ the latest in energy technology advancements."
Additional renewable energy option proposed
Duke Energy Kentucky also proposes the creation of the Green Source Advantage program as part of today's filing. This offering would provide a convenient and cost-effective way for qualifying large energy users to meet their internal sustainability goals.
"Current and prospective commercial and industrial customers want more choices when it comes to renewables," said Spiller. "The Green Source Advantage program can provide flexible options for companies to meet their sustainability goals on their own terms."
Through this voluntary program, customers can work with Duke Energy Kentucky to procure renewable energy resources, with the cost and net revenues billed to the customer through a new tariff.
The Green Source Advantage program would supplement Duke Energy Kentucky's existing renewable energy and sustainability programs and offerings. The company currently offers GoGreen Kentucky, which gives customers the ability to support the development of green power sources. In addition, Duke Energy Kentucky owns about 6.8 megawatts of solar power plants across three Northern Kentucky projects and is exploring additional solar projects across its system.
More information and next steps
In the coming weeks, the Kentucky Public Service Commission will issue a procedural schedule to provide opportunities for customers and other stakeholders to participate in this public process. The commission will then consider all testimony and schedule an evidentiary hearing in Frankfort. Duke Energy Kentucky expects the entire process to be complete in the first half of 2020.
Information about Duke Energy Kentucky's request for a regulatory rate review is available at duke-energy.com/KYrates. Regulatory filings related to this docket are available on the Kentucky Public Service Commission's website.
Duke Energy Kentucky provides electric service to approximately 142,900 customers in Boone, Campbell, Grant, Kenton and Pendleton counties in Kentucky. The company also delivers natural gas to about 100,000 customers in these counties as well as Bracken and Gallatin counties, though today's regulatory filing does not impact rates for Duke Energy Kentucky's natural gas customers.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/3/2019Be prepared for Hurricane Dorian with safety tips from Piedmont Natural Gas
Source: PR Newswire
CHARLOTTE, N.C., Sept. 3, 2019 /PRNewswire/ -- As Hurricane Dorian continues its approach toward the North Carolina coast, Piedmont Natural Gas is urging customers to follow a few simple tips to stay safe if their natural gas equipment or appliances are damaged or flooded due to severe weather.
"Flooding is typically the greatest storm-related risk to natural gas equipment and appliances, and we want to make sure our customers know how to stay safe after Hurricane Dorian passes through," said Keith Napier, director of natural gas operations for Piedmont Natural Gas. "Following a hurricane or any other severe weather event, Piedmont will be there to support its customers and to deliver reliable, safe natural gas service."
With safety as its top priority, Piedmont developed a Severe Weather Safety Bulletin to keep customers safe in the event of flooding or water damage. It includes what to do if water has entered your home, your natural gas appliances have been damaged by water or you suspect a natural gas leak.
In flooded areas, Piedmont crews will respond to affected neighborhoods to inspect natural gas meters for signs of submersion. Any meter believed to have been submerged will be removed and natural gas service will be turned off. Customers will be notified to have their natural gas appliances inspected for safe operation by Piedmont Natural Gas or another licensed contractor before service can be restored.
Piedmont's Severe Weather Safety Bulletin, available at piedmontng.com/severe-weather, offers comprehensive safety information, including the following tips for residents affected by flooding:
If you suspect your meter or natural gas appliances have sustained water damage or if you suspect damage to natural gas lines due to uprooted trees and other wind-related damage, please call Piedmont at 800.752.7504.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Media Line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Duke Energy
Article Date
9/3/2019Almost 9,000 field personnel ready to respond to Hurricane Dorian effort for Duke Energy in the Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Sept. 3, 2019 /PRNewswire/ -- Duke Energy is moving an extra 4,000 field personnel from 23 states and Canada to the Carolinas in anticipation of Hurricane Dorian making its way up the Atlantic coast.
The crews will complement the 5,000 Duke Energy lineworkers and tree personnel in the Carolinas – creating a workforce of almost 9,000 personnel.
"We will have a total field workforce of about 9,000 ready to restore power when the storm moves out of the Carolinas," said Jason Hollifield, Duke Energy's incident commander for the Carolinas. "Our customers should know that once we begin work, we will not stop until restoration is complete."
(Video of Jason Hollifield, Duke Energy incident commander for the Carolinas, discussing storm. You can get additional updates at https://www.dukeenergyupdates.com/)
Before power can be restored, crews first must assess the extent of damage – which can sometimes take 24 hours or more – to determine which crews, equipment and supplies are needed before repairs can begin. Crews will also work to restore power while damage assessment occurs as conditions allows.
In advance of the hurricane, customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center, as well as state and local emergency management officials.
For a hurricane kit checklist and important safety information, visit www.ready.gov.
Tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety.
Duke Energy also urges customers to follow instructions and warnings issued ty local emergency management officials before, during and after a storm.
Safety recommendations
How to report power outages
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Duke Energy (NYSE: DUK) is headquartered in Charlotte, N.C. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/3/2019Duke Energy has nearly 6,500 workers ready to respond to Hurricane Dorian in Florida
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 2, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) began planning for Hurricane Dorian in Florida more than a week ago and has put nearly 6,500 transmission and distribution personnel in place to support power restoration, which is nearly three times the typical number of crews in the state.
This includes more than 4,300 transmission and distribution line personnel and more than 1,500 transmission and distribution vegetation management workers, as well as hundreds of support personnel such as nurses, mechanics, field coordinators, and logistics specialists.
Hurricane Dorian is now a Category 4 hurricane. It's impact still poses a significant threat to Florida. This strong and dangerous storm will bring tropical force winds that will cause significant damage to our infrastructure and widespread power outages due to flying debris, fallen trees, downed poles and lines. It could also bring storm surge and flash flooding, which can potentially cause substantial damage to customers' homes and businesses, as well as our electrical infrastructure equipment and facilities.
Restoring power after a storm can be extremely challenging for repair crews, as travel and work conditions can be impacted by high winds and widespread flooding – making repair work lengthy and difficult.
During major weather events, as soon as it's safe for crews to travel they will begin restoration efforts. During this time, we're also conducting a comprehensive assessment of all damage to determine which crews, equipment and supplies are needed.
Crew resources are being staged in safe locations in The Villages, Davenport and Clearwater to be ready to respond to outages expected from Hurricane Dorian as soon as it's safe to do so.
Duke Energy has mutual assistance agreements with other utilities, through the Southeastern Electric Exchange, to ensure resources are secured and deployed in a timely manner.
Evacuations are underway in several areas and communities across the state. Duke Energy urges customers in the projected path of the storm to pay close attention to information and advice from state and local emergency management officials.
Duke Energy is ready to respond to the impacts of Hurricane Dorian and urges customers to be prepared, too.
Safety reminders
Outage reporting
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
Contact: Peveeta Persaud
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/2/2019Duke Energy urges Carolinas customers to prepare for powerful Hurricane Dorian
Source: PR Newswire
CHARLOTTE, N.C., Sept. 1, 2019 /PRNewswire/ -- Duke Energy today urged North Carolina and South Carolina customers to monitor and prepare for Hurricane Dorian – now a category 5 storm currently expected to impact the region Wednesday through Friday.
"Hurricane Dorian is bringing strong winds and heavy rains that could result in downed power lines and significant outages," said Jason Hollifield, Duke Energy's incident commander for the Carolinas. "Our line technicians, call center reps and other personnel are gearing up to respond, and we encourage our customers to prepare as well."
(Video of Jason Hollifield, Duke Energy incident commander for the Carolinas, discussing storm – https://www.dukeenergyupdates.com/)
Duke Energy crews are ready to respond as soon as the storm passes through the region and line technicians and other workers can safely begin repairs to restore electricity.
Restoring power after a storm can be extremely challenging for utility repair crews, as travel and work conditions can be impacted by high winds and widespread flooding – making repair work lengthy and difficult.
As part of power restoration, Duke Energy teams first must assess the extent of damage – which can take 24 hours or more – to determine which crews, equipment and supplies will be needed before repairs can begin.
In advance of the hurricane, customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center, as well as state and local emergency management officials.
For a hurricane kit checklist and important safety information, visit www.ready.gov.
Tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety.
Duke Energy also urges customers to follow instructions and warnings issued by local emergency management officials before, during and after a storm.
Safety recommendations
How to report power outages
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Duke Energy (NYSE: DUK) is headquartered in Charlotte, N.C. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/1/20198/30/2019 - Duke Energy continues to monitor Hurricane Dorian; encourages Carolinas customers to prepare
Duke Energy continues to monitor Hurricane Dorian; encourages Carolinas customers to prepare
Source: PR Newswire
CHARLOTTE, N.C., Aug. 30, 2019 /PRNewswire/ -- As Hurricane Dorian nears the U.S. coast, Duke Energy is closely monitoring the storm and its projected path for potential impacts to North Carolina and South Carolina.
The company is preparing for the storm and encourages customers to do the same.
"The forecasted storm track and intensity will likely change between now and the time it potentially affects the Carolinas, so customers should continue to monitor the path of the storm over the holiday weekend and consider their plans if impacts to the Carolinas become more apparent," said Duke Energy lead meteorologist Steve Leyton. "Duke Energy crews are ready to respond if outages occur."
Important reminders
Customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center, as well as state and local emergency management officials.
For a hurricane kit checklist and important safety information, visit www.ready.gov. In addition, tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Outage reporting
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/30/2019Duke Energy urges Florida customers to prepare for Hurricane Dorian
Source: PR Newswire
ST. PETERSBURG, Fla., Aug. 29, 2019 /PRNewswire/ -- As forecasts increasingly predict Hurricane Dorian will impact Florida, Duke Energy is preparing for the storm and urges customers to do the same.
Hurricane Dorian is forecast to be a Category 4 at landfall with strong winds, heavy rainfall and flooding in portions of Duke Energy's Florida service area.
The company expects damage to its infrastructure that may result in extended power outages.
The storm continues to strengthen as it moves closer to Florida. Florida Gov. Ron DeSantis has declared a state of emergency in advance of the hurricane.
"Hurricane Dorian is intensifying and poses a significant threat to east central Florida," said Duke Energy Florida storm director Jason Cutliffe. "We join state officials in asking everyone to take this storm seriously and prepare now. We also ask our customers for their patience. With a Category 4 hurricane, power may take several days to restore."
Duke Energy has a detailed storm response plan in place.
In advance of the hurricane, Duke Energy will move repair crews and resources so they are staged and ready to help restore power as soon as it is safe to do so.
In addition, line technicians and workers are checking equipment, supplies and inventories to ensure adequate materials are available to make repairs and restore power.
Restoring power after a storm can be extremely challenging for utility repair crews, as travel and work conditions can be impacted by high winds and widespread flooding – making repair work lengthy and difficult.
As part of power restoration, crews first must assess the extent of damage – which can take 24 hours or more – to determine which crews, equipment and supplies will be needed before repairs can begin.
Important reminders
The following tips can help you and your family stay safe if the power goes out:
Customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center (NHC), as well as state and local emergency management officials.
For a hurricane kit checklist and important safety information, visit www.ready.gov. In addition, tips on what to do before, during and after a storm can be found at duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Click here for a video demonstration and to read more about safety around power lines.
Outage reporting
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
High-water safety reminders
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 813.928.7263 | 24-Hour: 800.559.3853
Twitter: @DE_AnaGibbs
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SOURCE Duke Energy
Article Date
8/29/2019Duke Energy powers storm resiliency in N.C. communities with $1.1 million in grants
Source: PR Newswire
CHARLOTTE, N.C., Aug. 29, 2019 /PRNewswire/ -- Duke Energy today announced more than $1.1 million in funding to help North Carolina communities increase their response capabilities for future weather events with advance preparation and planning.
Sixty-five grant recipients across the state were selected from more than 140 applications, with projects ranging from swift water rescue equipment and specialized radios to nonprofit training and Spanish language outreach. Awarded projects will be implemented in communities over the following weeks and months.
"The overwhelming response to this grant opportunity underscores the profound need of our communities – many still recovering from the devastation of last year's storms," said Stephen De May, North Carolina president, Duke Energy. "We want to help our communities become more resilient to the impacts of a major storm. And with the season's first major hurricane forming in the Atlantic, we have a vivid reminder of the importance of advance planning."
"We are very thankful for the support of Duke Energy to help us develop a stormwater resiliency plan to manage flooding while maintaining the quality of water in our ocean, the sound, and our canals," stated Atlantic Beach Mayor, Trace Cooper. "Their support underlines their commitment to our communities and will allow us to leverage the support of our other partners in this process."
The storm resiliency grants, funded by the Duke Energy Foundation, support:
Powerful Communities: Storm Resiliency Grant Recipients
Activate Good | American Red Cross |
Anson County Emergency Services | Arapahoe Volunteer Fire & Rescue |
Arlington Fire & Rescue | Beaufort County |
Bladen County Sheriff's Office | Cary CERT Association |
Caswell County | Chatham County |
Chatham County Council on Aging | City of Durham Fire Department |
City of Fayetteville Police Department | City of Goldsboro |
City of Jacksonville | City of King |
City of Lumberton Fire Department | City of New Bern |
City of Sanford | City of Thomasville |
City of Whiteville | City of Winston-Salem |
Cleveland County | Cleveland Fire Department |
Columbus County Sheriff's Office | County of Burke |
County of Harnett | County of Hoke |
County of Lee | County of Onslow |
County of Yadkin | Craven County Emergency Services |
Cullasaja Gorge Fire & Rescue | Deep Branch Volunteer Fire |
Durham County | Eastern Band of Cherokee Indians |
Greensboro Fire Department | Jones County Emergency Management |
Lewisville Volunteer Fire Department | Linville-Central Rescue Squad |
McDowell County Government | Miller's Ferry Volunteer Fire Department |
Mitchell County Emergency Management | Morrisville CERT |
NC Center for Nonprofits | Northwest Harnett Volunteer Fire Department |
Prospera | Salisbury Fire Department |
Sampson County | South Orange Rescue Squad |
Stokes County Emergency Services | Surry County Emergency Management |
The Salvation Army | Town of Atlantic Beach |
Town of Carrboro | Town of Chapel Hill |
Town of Harrisburg | Town of Leland |
Town of Morehead City | Town of Newport |
Town of Siler City | Town of Smithfield |
Trenton Volunteer Fire Department | Union County Government |
Wayne County |
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/29/20198/27/2019 - Duke Energy Site Readiness Program a win for economic development, jobs in South Carolina
Duke Energy Site Readiness Program a win for economic development, jobs in South Carolina
Source: PR Newswire
CHARLOTTE, N.C., Aug. 27, 2019 /PRNewswire/ -- Duke Energy has selected four properties in South Carolina for participation in its 2019 Site Readiness Program to enhance the readiness of the sites for business and industrial development.
The Site Readiness Program has helped prepare properties that have won 15 major projects in South Carolina since the program started in 2005, resulting in more than 2,600 new jobs and nearly $1 billion in capital investment.
Through the program, Duke Energy identifies high-potential sites and partners with county officials and local economic development professionals to develop a strategy for getting the site fully ready to market to industrial projects.
"Economic development is a team sport and we are a key position player – working with many local and regional partners throughout the economic development process to achieve success," said Stu Heishman, Duke Energy's vice president of economic development. "We have a specific focus on site readiness, industrial recruitment and working together with our state and local partners. The Site Readiness Program is a great tool for communities across the Carolinas to help close deals."
The locations include:
Duke Energy worked with major site selection firms to evaluate the sites, including Global Location Strategies (GLS), Strategic Development Group, Site Selection Group and Quest Site Solutions. Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites. Additionally, each site is eligible to apply for a $10,000 matching grant from Duke Energy to help prepare it to attract projects.
"GLS and Duke Energy have a shared mission of making communities investment-ready in order to create long-term, sustainable success," said Didi Caldwell, founding principal of GLS, a site selection firm based in Greenville, S.C. "Investment readiness doesn't happen overnight and requires a commitment to identify, assess and prepare sites in order to attract capital investment and jobs. Through Duke Energy's Site Readiness Program, communities throughout its service territory are reaping the rewards of the journey that will have lasting impact for generations to come. We are pleased to play a role in advancing them along the investment readiness journey."
After each site's state of readiness has advanced, Duke Energy's business recruitment team strategically markets each of them nationwide to companies looking to expand or relocate their operations.
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." Through these efforts, Duke Energy helped recruit $1.8 billion in capital investment in South Carolina and more than 3,900 jobs for the state in 2018.
For more information about Duke Energy's economic development programs, visit http://locationdukeenergy.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/27/20198/27/2019 - Duke Energy Site Readiness Program a win for economic development, jobs in North Carolina
Duke Energy Site Readiness Program a win for economic development, jobs in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Aug. 27, 2019 /PRNewswire/ -- Duke Energy has selected five properties in North Carolina for participation in its 2019 Site Readiness Program to enhance the readiness of the sites for business and industrial development.
The Site Readiness Program has helped prepare properties that have won 18 major projects in North Carolina since the program started in 2005, resulting in more than 5,100 new jobs and nearly $6.1 billion in capital investment.
Through the program, Duke Energy identifies high-potential sites and partners with county officials and local economic development professionals to develop a strategy for getting the site fully ready to market to industrial projects.
"Economic development is a team sport and we are a key position player – working with many local and regional partners throughout the economic development process to achieve success," said Stu Heishman, Duke Energy's vice president of economic development. "We have a specific focus on site readiness, industrial recruitment and working together with our state and local partners. The Site Readiness Program is a great tool for communities across the Carolinas to help close deals."
The locations include:
"The Site Readiness program has been incredibly valuable to our organization," said Robert Van Geons, President and CEO of the Fayetteville Cumberland County Economic Development Corporation. "In order to compete for and win job creating projects, we need to mitigate our client's risk, effectively communicate our value proposition, and exceed expectations with regards to competence and preparedness. This program allows us to have a third-party expert look at our community, ensuring we are ready to maximize each opportunity that comes before us."
"The Duke Energy Site Readiness Program has been a very cost-effective way for Rockingham County to evaluate the potential for industrial sites over the years, as we could not afford to do this alone," said Leigh Cockram, Rockingham County director of economic development. "This year's evaluation of the former Miller site in Eden was especially helpful, as the thorough assessment of the site has given us the information needed to launch a more targeted marketing campaign for the property."
Duke Energy worked with major site selection firms to evaluate the sites, including Strategic Development Group (SDG), Site Selection Group, Global Location Strategies and Quest Site Solutions. Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites. Additionally, each site is eligible to apply for a $10,000 matching grant from Duke Energy to help prepare it to attract projects.
"Identifying and improving sites for future economic growth is a critical part of every successful economic development strategy," said Jeannette Goldsmith, vice president of SDG, a site selection firm based in Greenville, S.C. "We were pleased to be a part of the Duke Energy Site Readiness Program in 2019 and enjoyed working with regional economic development leaders on evaluating their sites and helping them prepare to attract capital investment and create new jobs."
After each site's state of readiness has advanced, Duke Energy's business recruitment team strategically markets each of them nationwide to companies looking to expand or relocate their operations.
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." Through these efforts, Duke Energy helped recruit $2.4 billion in capital investment in North Carolina and more than 4,300 jobs for the state in 2018.
For more information about Duke Energy's economic development programs, visit http://locationdukeenergy.com.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/27/2019Duke Energy honors six companies with 2019 Power Partner Award
Source: PR Newswire
CHARLOTTE, N.C., Aug. 23, 2019 /PRNewswire/ -- Six outstanding organizations have been chosen to receive Duke Energy's long-standing Power Partner award for 2019.
The Power Partner award program, which began in 1992, honors businesses and other organizations that achieve notable results in categories including solutions innovation, community excellence, economic development, sustainability innovation, storm restoration and renewable excellence. Each of the 2019 Power Partners will be recognized at individual award ceremonies later this year.
"The businesses and organizations selected for this award are truly outstanding," said Chris Edge, Duke Energy vice president of large business customers. "Each one is determined to serve customers and stakeholders in ways that benefit their companies and their communities, and delivers value to Duke Energy as well."
The 2019 Power Partner award-winning organizations include:
Walmart worked with Duke Energy to create and support the North Carolina Green Source Advantage program, joining forces with Duke Energy and the Public Staff of the North Carolina Utilities Commission to craft a program that balances the interests of participating and non-participating customers, as well as the interests of the renewable power industry. Thanks to Walmart's engagement and expertise, the Green Source Advantage program helps participating members meet their sustainability goals, providing a structure to hedge costs while controlling the costs to non-participating customers.
When Hurricane Florence struck Duke Energy's North Carolina coastal area last September, we knew we had a challenging restoration effort on our hands. Cape Fear Community College graciously allowed Duke Energy to establish a massive 2,500-person staging area on the college's north campus in Wilmington. With floodwaters impeding travel and gasoline shortages anticipated, a difficult restoration effort was made more manageable thanks to Duke Energy's valued relationship with Cape Fear Community College.
Duke Energy has always been proud of our culture of giving back to the communities we serve. But we need passionate, experienced businesses to help reach those most in need. Fortunately, Duke Energy and the Lake Wales Care Center work hand in hand to provide food, financial assistance, work camps and counseling services to its clients. In addition, Duke Energy relies on Lake Wales Care Center to distribute our Good Neighbors Fund. Duke Energy also helps by delivering holiday food baskets through our volunteer network.
Redeveloping brownfield sites can present real challenges, so when First Quality Tissue decided in 2010 to locate in an old BASF nylon factory in Anderson, S.C., the community watched closely. Fortunately, it was not disappointed. First Quality Tissue, a provider of paper toilet tissue and paper towels, has been constantly expanding its facilities at the site ever since. Starting with a single paper line in 2010, First Quality Tissue leveraged Duke Energy's economic development incentives as it added three more paper lines, becoming a significant employer in the community along the way.
When Bon Secours had to comply with new state legislation requiring nursing homes and assisted living facilities to have backup generation, it turned to Duke Energy for assistance. Duke Energy provided a backup generator at the Bon Secours Plant facility complete with transfer switch capabilities. In addition, Duke Energy provided permanent transfer switches to interface with mobile backup generators as satellite locations used under an evacuation situation. Bon Secours Maria Manor facility also participates in the standby generation program, which provides a monthly credit on electric bills for helping Duke Energy during system disturbances.
Hunt Southern Company, a Hunt military community, recently built 284 homes at Shaw Air Force Base in Sumter, S.C., for military members and their families. In collaboration with Duke Energy, Hunt Southern installed solar panels on these homes, generating 1,350 kilowatts and helping to reduce utility bills for the project. Duke Energy performed extensive feeder studies to ensure that the solar panels integrated well into our system. The project was enabled by a Duke Energy rebate of over $1 million.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/23/2019Duke Energy Renewables completes nine solar projects in conjunction with Georgia Power's Renewable Energy Development Initiative
Source: PR Newswire
CHARLOTTE, N.C., Aug. 22, 2019 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), announced that nine solar projects developed with SolAmerica Energy totaling 14.1 megawatts (MW) have begun commercial operations across central Georgia under Georgia Power's Renewable Energy Development Initiative. These projects bring Duke Energy Renewables, operating through its REC Solar business unit, to 27.4 MW of solar projects in Georgia.
"We're excited to complete these projects and look forward to developing even more clean, renewable energy projects in Georgia in the future," said Chris Fallon, vice president of Duke Energy Renewables.
The nine solar projects, which were acquired by Duke Energy Renewables in 2018, are expected to contribute $10 million to local communities in leasing and taxes. A total of 54,590 solar panels were built into the projects. The last site began commercial operations in May 2019.
Each project, was developed under an engineering, production and procurement (EPC) agreement between REC Solar and SolAmerica and a 35-year power purchase agreement (PPA) with Georgia Power, selling all energy and renewable attributes to Georgia Power as a part of their Renewable Energy Development Initiative (REDI) Customer-Sited Distributed Generation Program.
"SolAmerica is very pleased to have been able to work with Duke Energy Renewables and REC Solar on a second portfolio in Georgia, having successfully assisted on projects under Georgia Power's Advanced Solar Initiative in 2016," said R. Stanley Allen, chief executive officer, SolAmerica. "We hope to work again together, whether in Georgia or elsewhere. The demand for such relationships to bring clean energy solutions to market faster is definitely here."
The nine projects now in operation include:
Bibb Jones | .996 MW | Macon, GA |
Columbia Bryson | 1.38 MW | Grovetown, GA |
Liberty Martin | .996 MW | Riceboro, GA |
Muscogee Public Works | 1.56 MW | Columbus, GA |
Richmond Hayes | 1.75 MW | Augusta, GA |
Telfair Holland | .960 MW | McRae Helena, GA |
Telfair Thompson | 1.90 MW | McRae, GA |
Troup RC50 | 2.30 MW | Pine Mountain, GA |
Wilkinson DeFore | 2.30 MW | Gordon, GA |
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About SolAmerica
Founded in 2009, SolAmerica is a leading developer, EPC and operations & maintenance provider of solar photovoltaic (PV) projects for commercial, industrial and government clients. SolAmerica's core competencies include site assessment, solar finance, system design and engineering, procurement turnkey installation, monitoring, O&M and asset management. SolAmerica is actively developing and providing EPC and O&M services east of the Mississippi. For additional information about SolAmerica, visit www.solamericaenergy.com.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contacts
Jennifer Garber, Duke Energy
Office: 980-373-0668 | 24-Hour: 800-559-3853
Tully Blalock, SolAmerica
Office: 404-351-8175, ext. 14
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SOURCE Duke Energy
Article Date
8/22/2019Duke Energy invests nearly $200,000 in small grants to schools across South Carolina for much-needed supplies
Source: PR Newswire
GREENVILLE, S.C., Aug. 21, 2019 /PRNewswire/ -- The Duke Energy Foundation is providing nearly $200,000 in small grants to schools across the Palmetto State to help teachers fill any gaps in supplies for returning students as the school year begins. The grants are part of an initiative focused on projects to help underserved communities thrive and prosper.
The effort will focus on schools that have 75% or more of their students who qualify for free and reduced lunches in the company's South Carolina service territory. In all, 43 districts including 275 schools are eligible to file for the grants.
"Bright futures begin in the classroom, and every child deserves a fair chance at academic success," said Kodwo Ghartey-Tagoe, South Carolina state president for Duke Energy. "Unfortunately, we know many students heading back to school this week will not have all of the necessary supplies they will need in their studies. Our hope is these funds will help set these classrooms and students up for a successful school year."
Each qualifying school is eligible for up to $700 in grant funds to purchase basic school supplies for students in need. The individual school districts will apply for the funding for all of that district's qualifying schools, and will distribute the funds once awarded.
Qualifying school districts that want to learn more about how to apply for the grants should send a request for information to communityaffairs@duke-energy.com.
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. In 2018, the company donated more than $2 million to nonprofit organizations in South Carolina.
More information about the foundation can be found at duke-energy.com/foundation.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/21/2019More renewable energy options available under Duke Energy's Green Source Advantage
Source: PR Newswire
CHARLOTTE, N.C., Aug. 21, 2019 /PRNewswire/ -- The North Carolina Utilities Commission (NCUC) has approved Duke Energy's Green Source Advantage (GSA) program in North Carolina, enabling the company to expand renewable energy options for customers. View the NCUC order.
"Large customers focused on securing more renewable energy now have an additional option with Duke Energy's Green Source Advantage," said Stephen De May, Duke Energy's North Carolina president. "This is a flexible program that will help them meet their renewable energy or sustainability goals on their own terms."
The GSA program offers large energy users the flexibility of selecting and negotiating all price terms directly with a renewable supplier of their choice, including the purchase of renewable energy certificates (RECs) generated by that renewable facility. The customer and developer can also agree on the contract length that is right for them.
The application window for the program opens Oct. 1 at 9 a.m. on a first-come, first-served basis. Visit duke-energy.com/ncgreensource for application details.
The GSA program will be available until the total capacity of 600 MW is fully subscribed. Of this 600-MW capacity, 100 MW will be set aside for military installations and 250 MW set aside for University of North Carolina institutions, according to language in North Carolina's Competitive Energy Solutions law.
The remaining 250 MW will be reserved for large nonresidential customers – 160 MW for Duke Energy Carolinas and 90 MW for Duke Energy Progress.
Facilities that are used for the GSA program will be owned and operated by eligible renewable energy developers.
Other efforts to promote solar in North Carolina
Since the passage of the Competitive Energy Solutions for North Carolina law in 2017, Duke Energy has been steadily offering new solar programs benefiting customers in the state.
The company owns and operates 40 solar facilities in North Carolina and has invested more than $1 billion in renewable energy in the state this decade.
Duke Energy's $62 million solar rebate program for residential, commercial and nonprofit customers in North Carolina has helped 3,000 customers go solar in its first two years. Duke Energy will continue offering these rebates over the next three years.
In 2018, Duke Energy connected more than 500 MW of new solar capacity – enough to power about 100,000 homes at peak output.
Duke Energy also launched a competitive bidding process for new solar capacity. The process, overseen by an independent administrator, contracted for more than 600 MW of new solar capacity in 2019 – enough to power about 120,000 homes at peak output. The program is ensuring the best and most cost-effective projects are built to benefit customers in the Carolinas. A second round of bidding is expected to begin in October.
In 2018, Duke Energy also became one of the few companies in the Carolinas to offer solar leasing to commercial customers. A subsidiary of Duke Energy will build, own and operate on-site solar facilities that will allow customers in North Carolina and South Carolina to access renewable energy without paying a large upfront investment.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
8/21/2019Duke Energy grants $205,000 to seven projects to eliminate blight, drive redevelopment and job growth in Greater Cincinnati's urban cores
Source: PR Newswire
CINCINNATI, Aug. 13, 2019 /PRNewswire/ -- Duke Energy today announced $205,000 in grants to seven redevelopment projects that aim to stimulate growth, job creation and further investments in Greater Cincinnati's urban cores. The grants are part of the company's Urban Revitalization initiative, which has awarded nearly $2.4 million in grants to 72 projects in southwest Ohio and Northern Kentucky since its launch in 2011.
Related: Lumber mill reimagined as artist studios in Kentucky
Today's announcement took place at the headquarters of Road iD in Covington, Ky. Road iD, a family-owned business that manufactures custom products to help first responders identify people in case of an emergency, was awarded a Duke Energy Urban Revitalization grant in 2017. The company and its partners invested millions of dollars to transform an underutilized, historic building into a dynamic office, manufacturing, assembly and warehousing space that houses dozens of local workers.
"Road iD shows how investing in our urban cores makes such a positive impact on people and communities," said Amy Spiller, president of Duke Energy Ohio and Kentucky. "We are proud of the Road iD success story and committed to spurring additional redevelopment and job growth in our communities through our Urban Revitalization program."
Program launched following the Great Recession
Duke Energy's Urban Revitalization program was launched in 2011, following the Great Recession.
Video: Urban Revitalization program spurs positive change in Ohio and Kentucky
"We recognized the economy was still feeble and communities were continuing to struggle," said Spiller. "As we spoke to community groups and studied the landscape, we repeatedly found individuals and organizations that wanted to make or facilitate investments in the region's urban cores but lacked the financial resources to jump-start their projects."
Major redevelopment initiatives sometimes can't get off the ground due to small, but critical, upfront costs. That's where the Urban Revitalization grants show their value. Although modest compared to the multimillion-dollar costs of redeveloping a property, the funds typically serve as a means for grantees to obtain the necessary credentials – like architectural and engineering plans – that are required for seeking and securing additional grants and financing for construction.
"The Urban Revitalization grants are catalysts," said Spiller. "They help individuals and groups overcome major obstacles. And, once projects are complete, neighboring properties become prime prospects for their own redevelopment.
"It's a win for the projects, a win for the urban cores and a win for our communities."
Here are summaries of the projects that were awarded grants today.
Ohio
Kentucky
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/13/20198/13/2019 - Piedmont Natural Gas reaches agreement on new rates with customer groups in North Carolina
Piedmont Natural Gas reaches agreement on new rates with customer groups in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Aug. 13, 2019 /PRNewswire/ -- Piedmont Natural Gas reached an agreement today with North Carolina consumer and industrial groups that could lower winter costs for residential customers while covering significant investments made to accommodate growth, safety and reliability.
All parties agreed to a 3% increase in rates, which is approximately one-third of the 9% increase Piedmont originally requested to recover costs for system growth, infrastructure investments and pipeline safety and security improvements.
Under the terms of the settlement, resulting from the rate review request filed in April, the monthly bill for Piedmont's typical residential customer in North Carolina would increase an average of $1.80 per month. The impact of this rate increase is mitigated by the company returning savings from federal and state tax reform to customers.
The impact may be further reduced by an expected decrease in the cost of natural gas in the fall.
"Once these factors are in place, and with the commission's approval, we believe our customers in North Carolina now will pay less for natural gas this winter than they did in the winter of 2018," said Frank Yoho, executive vice president and president, Piedmont Natural Gas. "We appreciate the constructive work from all parties and the consideration they've given to our customers and to the investments Piedmont has made to keep our pipeline system safe and reliable."
The agreement was developed in collaboration with the Carolina Utility Customers Association, the Carolina Industrial Group for Fair Utility Rates and the Public Staff of the North Carolina Utilities Commission (NCUC), which represents the interests of the consumer.
The settlement reduces the company's requested return on equity from 10.6% to 9.7%.
Piedmont's proposed rate increase applies to residential, commercial and industrial customers. If approved by the NCUC, Piedmont anticipates the new rates will go into effect by the end of 2019. To learn more about Piedmont's proposed rate increase, visit piedmontng.com/rates.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
8/13/2019Duke Energy names new South Carolina state president
Source: PR Newswire
GREENVILLE, S.C., Aug. 9, 2019 /PRNewswire/ -- Duke Energy today announced a change in its executive leadership in South Carolina that will continue the company's long-standing commitment to its 760,000 electric and 162,000 gas customers in the Palmetto State.
Michael Callahan – currently vice president of investor relations – will succeed Kodwo Ghartey-Tagoe as South Carolina state president.
Callahan, 44, will manage state and local regulatory and government relations in South Carolina. He will work closely with the corporate and regulatory strategy team to advance legislative, rate and regulatory initiatives in the state. His team also leads community relations for Duke Energy across the Palmetto State. As the state president, Callahan will manage continued efforts to engage and work with customers and stakeholders across many topics, including the growth of renewables, the advancement of electrification efforts, strategic philanthropic initiatives and grassroots engagement with customers big and small.
Ghartey-Tagoe, 56, will become executive vice president, chief legal officer. In this role, he will be the primary legal advisor to Duke Energy's board of directors and senior management, and lead the Office of the General Counsel, which includes the company's legal, corporate governance, ethics and compliance, and audit functions.
"Michael's many years of experience throughout the company have prepared him well for this critical role," said Lloyd Yates, executive vice president customer and delivery operations, and president, Carolinas region. "In his new role, he will build on the great progress Kodwo and team have already accomplished, and he will continue to advocate for policies and practices that meet the energy needs of our customers and South Carolina in cost-effective, environmentally sound ways."
In his role as vice president of investor relations, Callahan oversaw Duke Energy's investor relations and shareholder services organizations. Before that, he served as director of regulated utilities forecasting for Duke Energy, where he was responsible for preparing and consolidating regulated utility forecasts to support financial planning and strategic decision-making activities.
Callahan joined Duke Energy in 2002. Prior to joining Duke Energy, Callahan was a senior consultant at PricewaterhouseCoopers.
A native of Fulton, N.Y., Callahan earned a Bachelor of Science degree in accounting and a Master of Business of Administration degree from the State University of New York at Buffalo. He is also a certified public accountant in both North Carolina and New York.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/9/2019Duke Energy announces key leadership appointments
Source: PR Newswire
CHARLOTTE, N.C., Aug. 9, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) today said it is restructuring its senior management team through a series of new appointments to strengthen the company's strategic focus on customers, public policy and innovation. The company also announced the retirement of two executives who have made lasting contributions to the company's success for decades.
"I am extremely grateful for the contributions of Lloyd Yates and Frank Yoho and am excited about the depth of talent in our company, which positions us for success in a rapidly changing environment. The incredible pace of change within our industry puts a premium on having an agile organization," said Lynn Good, chairman, president and CEO. "We have been at work over the last several years to develop talent to respond to these changes and are prepared to continue our strategic momentum."
Executive transitions
Lloyd Yates, executive vice president, customer delivery operations and president of Duke Energy's Carolinas region, and Frank Yoho, executive vice president and president of Duke Energy's natural gas business, have both decided to retire at the end of September after long and distinguished careers in the industry.
Over his more than 35-year career in the industry, including 21 years with Duke Energy and its predecessor companies, Yates has left a lasting impression on the company and industry. Throughout his tenure, he helped build Duke Energy into a leading energy infrastructure company. In his current role, he used his operational experience to improve safety, reliability and the overall customer experience for millions of customers.
"Lloyd has been an incredible leader for Duke Energy and has been at the forefront of our company's transformation," said Good. "From his leadership in the Carolinas to our ongoing efforts to deliver more value to customers, Lloyd has left a powerful legacy on our company and the communities we serve."
During his 35-year career, Yoho has led every aspect of the natural gas business and played an integral role in restructuring Piedmont Natural Gas to prioritize the customer experience. This helped transform the company into one of the nation's most trusted utility brands. After joining Duke Energy following the 2016 acquisition of Piedmont Natural Gas, Yoho was responsible for all of Duke Energy's natural gas operations in North Carolina, South Carolina, Ohio, Kentucky and Tennessee.
"Over his career, Frank brought his vision and expertise to every role – and delivered impressive results at every stage," said Good. "Following the acquisition of Piedmont Natural Gas, Frank was instrumental in our integration efforts, leading one of the most successful acquisitions in our company's history."
New appointments and organizational changes
The following management changes are being made:
Ghartey-Tagoe, Savoy and Sideris will report to Good. Janson, Esamann, Melissa Anderson, Dhiaa Jamil and Steve Young will also continue to report to Good.
Other executive changes:
The changes will be effective Oct. 1, 2019.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Neil Nissan
24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
8/9/2019Duke Energy reports second-quarter 2019 financial results
Source: PR Newswire
CHARLOTTE, N.C., Aug. 6, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its second-quarter 2019 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 6866305. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET on Aug. 16, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 6866305. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
8/6/20198/2/2019 - Duke Energy continues its appeal of state's coal ash-related decision to excavate ash basins
Duke Energy continues its appeal of state's coal ash-related decision to excavate ash basins
Source: PR Newswire
CHARLOTTE, N.C., Aug. 2, 2019 /PRNewswire/ -- Duke Energy today issued the following statement in response to an order issued in the company's appeal of a decision by the North Carolina Department of Environmental Quality (NCDEQ) requiring nine coal ash basins to be closed by excavation. The company filed a case with the North Carolina Office of Administrative Hearings (OAH), challenging the timing of the state's mandate, the standard it used to arrive at the decision and whether it was the correct decision.
This morning, the judge in the proceeding dismissed several claims in the case while allowing others to proceed.
While we are disappointed in the ruling on this issue, we will proceed with the appeal, standing firm in our belief that the NCDEQ decision is wrong, not based in science and engineering – and not in the best interest of our customers and communities.
The state's decision on basin closure mandates the most extreme option for the lowest-risk basins, ignoring information that clearly shows capping the ash in place would continue to fully protect people and the environment.
By contrast, excavation would drastically increase the cost to customers and create decades of disruption for communities – with no measurable benefit – compared to safely capping the ash in place.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/2/2019Duke Energy Progress proposes decrease to residential charges for programs saving energy and money for South Carolina customers
Source: PR Newswire
GREENVILLE, S.C., Aug. 2, 2019 /PRNewswire/ -- As the new year begins, residential customers of Duke Energy Progress in South Carolina will see savings in their monthly energy bills related to the costs of programs that help them save energy and money.
Duke Energy Progress is committed to helping customers reduce energy consumption and resulting costs through energy-efficiency programs and assistance for low-income customers. These programs helped customers collectively save more than 210 million kilowatt hours of electricity in the Carolinas in 2018.
On Aug. 1, Duke Energy Progress made its annual filing with the Public Service Commission of South Carolina (PSCSC) to recover the costs of implementing these programs.
The total monthly impact of the rate change for a residential customer using 1,000 kWh per month is a decrease from $128.76 to $125.43, or $3.33. If approved by the PSCSC, the new rates will become effective Jan. 1, 2020. For non-residential customers, the impact will vary based on the opt-out elections made by the customer.
The charge is based on a true up of actual costs for energy efficiency programs in 2018, plus we are forecasting lower costs in 2020 because of improved technology and lower participation in the programs.
The charge covers the cost of implementing energy-efficiency programs and providing incentives to help customers take control of their energy usage and save money. To learn more about these programs, visit duke-energy.com/SaveEnergy.
Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/2/20197/31/2019 - Duke Energy Carolinas proposes annual update to fuel charges for South Carolina customers
Duke Energy Carolinas proposes annual update to fuel charges for South Carolina customers
Source: PR Newswire
GREENVILLE, S.C., July 31, 2019 /PRNewswire/ -- Duke Energy Carolinas made its annual filing on July 30 with the Public Service Commission of South Carolina (PSCSC) for the costs associated with the purchase of fuel to generate electricity at its power plants.
The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.
If approved, the total monthly impact for a typical residential customer in South Carolina using 1,000 kilowatt-hours (kWh) per month would be an increase of $2.21. Commercial customers would see an average increase in the fuel charge of about 0.7 percent, and industrial customers would receive an average increase of about 1.7 percent.
The company postponed collecting $34 million in fuel costs last year to minimize the impact to customers' bills – the main reason for the proposed increase. And with lower projected fuel costs for this year, the impact is further minimized.
The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. If approved by the PSCSC, the new fuel rates would go into effect Oct. 1.
Duke Energy Carolinas serves customers primarily in the Upstate of South Carolina.
Helping customers save
Duke Energy Carolinas works to actively manage its fuel contracts to keep fuel costs as low as possible. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs.
Duke Energy Carolinas is also committed to helping customers take control of their energy use and manage their bills. The company offers energy-saving tips and innovative efficiency programs for every budget to help customers realize additional savings. For example, the Home Energy House Call is a free in-home energy assessment, valued at $180, designed to give Duke Energy customers more information about how they use energy in their home and strategies to save money on their monthly bill.
To learn more about these programs, visit duke-energy.com/savings.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/31/20197/30/2019 - Duke Energy Foundation provides $250,000 in grants to address opioid addiction in 11 Indiana counties
Duke Energy Foundation provides $250,000 in grants to address opioid addiction in 11 Indiana counties
Source: PR Newswire
PLAINFIELD, Ind., July 30, 2019 /PRNewswire/ -- Indiana's largest electric supplier is helping address opioid addiction in Indiana – a problem in too many of the communities it serves.
The Duke Energy Foundation today announced $250,000 in grants to tackle unique aspects of the issue.
Ivy Tech Community College will receive $175,000 to educate and prepare a pipeline of specialists in addiction and mental health to combat the crisis. Ivy Tech is pairing with the Terre Haute Chamber of Commerce's Better Health Wabash Valley initiative to raise awareness of mental health and addiction issues and connect students with health care providers and businesses for work-study programs in addiction and mental health.
Meanwhile, Hamilton Center, Inc., a regional behavioral health system in central and west central Indiana, will receive $75,000 for a pilot program to help those with an opioid use disorder who are unemployed or want to remain in the workforce while seeking treatment for their substance use disorder. Funds will be used for employment assistance as well as comprehensive treatment.
"This grant is a perfect example of private and public sectors partnering to making a real impact for rural Indiana," said Governor Eric J. Holcomb. "Some of our state's best assets are collaborating to support two of our priorities: skilling up our workforce and tackling the drug epidemic. I look forward to seeing this grant help Hoosiers."
The grants focus on an 11-county region including Vigo, Clay, Gibson, Greene, Hendricks, Knox, Owen, Parke, Putnam, Sullivan and Vermillion counties.
"Five Hoosiers die from drug overdoses every day, most of it opioid-related," said Duke Energy Indiana President Stan Pinegar. "As I visit the places we serve, I hear firsthand from our community leaders about how this crisis affects their workforce and families. Clearly there is a link between good health and economic well-being, and that's the focus of this project."
Congressman Larry Bucshon, whose district includes the grants' region of focus, stated, "In our communities across Indiana and the nation, opioid abuse and addiction is raging and leaving families broken and communities in crisis. The only way we are going to end this crisis is for federal, state and local leaders to work together with treatment facilities, physicians, and others to ensure that we're putting in place the resources and policies to make a difference and turn the tide. We are fortunate to have clinics and programs in west central Indiana that are working tirelessly to help our friends, family members, and neighbors recover from addiction, and this generous grant awarded by the Duke Energy Foundation will go a long way in battling the opioid epidemic in west central Indiana."
While addiction plagues the rich and poor alike, lower-income and medically underserved areas need more access to treatment and trained addiction specialists. The 11-county region identified in this grant has areas of urgent need.
"Ivy Tech has robust nursing, health science and human services programs, including addiction studies. Each of these credentials earned grows the regional workforce skilled to assist those suffering from mental health and addiction-disorders," said Sue Ellspermann, president of Ivy Tech Community College. "In fact, some Ivy Tech students experience many of these same challenges, and we have a longstanding partnership with Hamilton Center to provide services and improve lives in the Wabash Valley."
Funding from the Duke Energy Foundation will provide scholarship support and work-and-learn opportunities for students to pursue certificates and degrees in nursing or addiction studies and enter the fight against addiction. Ivy Tech offers these programs throughout the Wabash Valley area at its Avon, Greencastle, Bloomington, Terre Haute, Rockville, and Linton campuses. To apply for all Ivy Tech scholarships, visit ivytech.edu/scholarships.
In some cases, the cost of addiction treatment is a barrier. The Hamilton Center's grant funds treatment for those who can't afford it, while helping those who are in treatment find employment -- or keep the jobs they have. There's also a need to educate employers on the benefits of opioid treatment programs and the employability of those in recovery.
"People in recovery need the opportunity to work and be productive employees and citizens, and private/public partnerships like this can certainly assist in addressing community needs," said Melvin L. Burks, Hamilton Center's chief executive officer.
Hamilton Center Inc. opened a state-licensed opioid treatment program called WIN Recovery, Western Indiana Recovery Services, in Terre Haute in May 2018. Clinics in Knox and Hendricks counties are scheduled to open by year-end.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy (NYSE: DUK), provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributed more than $2.2 million in charitable gifts to Indiana in 2018, funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Ivy Tech Community College
Ivy Tech Community College (ivytech.edu) serves communities across Indiana, providing world-class education and driving economic transformation. It is the state's largest public postsecondary institution and the nation's largest singly accredited statewide community college system. It serves as the state's engine of workforce development, offering high-value degree programs and training that are aligned with the needs of its communities, along with courses and programs that transfer to other colleges and universities in Indiana. It is accredited by the Higher Learning Commission and a member of the North Central Association.
Hamilton Center Inc.
Hamilton Center Inc. is a regional behavioral health system in central and west central Indiana. The organization provides the full continuum of behavioral health and addiction treatment to 13,000 annually. Clinics are in Bloomfield, Brazil, Clinton, Greencastle. Indianapolis, Linton, Plainfield, Rockville, Spencer, Sullivan, Terre Haute, and West Terre Haute.
Terre Haute Chamber of Commerce - Better Health Wabash Valley
Established in 1913, the Terre Haute Chamber of Commerce is committed to Building Business, Building Community. Better Health Wabash Valley was established in 2009 as a branch committee of the chamber and is charged with addressing the most serious health needs of our community. Members of the group include representatives of business and non-profit sectors.
Contact:
Duke Energy
Angeline Protogere 317.838.1338 24-hour: 800.559.3853
Ivy Tech
Sarah DeWeese 812.298.2337
Hamilton Center
Margie Anshutz 812.231.8320
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SOURCE Duke Energy
Article Date
7/30/20197/25/2019 - Duke Energy Foundation provides more than $500,000 in grants to support community resiliency in Florida
Duke Energy Foundation provides more than $500,000 in grants to support community resiliency in Florida
Source: PR Newswire
St. PETERSBURG, Fla., July 25, 2019 /PRNewswire/ -- The Duke Energy Foundation is powering the vitality of Florida communities by awarding nearly $515,000 in grant funding to support community resiliency.
The projects, hosted by nonprofits, will strengthen communities and advance prosperity by addressing economic and quality of life issues, including diversity and access to the arts. To align with the start of hurricane season, the company also recently partnered with local organizations across the state to assemble and distribute storm preparedness kits to vulnerable customers, who may not have the means to access the materials in other ways.
"Strengthening people and communities is at the heart of each grant's purpose, and the true value of these grants is greater than the dollar amount," said Catherine Stempien, Duke Energy Florida president. "Providing access to the arts, inspiring diversity and encouraging hurricane preparedness all create resilient communities and result in lasting positive impacts in our state."
Recipients of the largest donations include:
Tampa Bay area recipients
Greater Orlando area recipients
North Central Florida area recipients
Victories for Veterans Program
The Victories for Veterans program is also included in these grants. It is a unique partnership with the Tampa Bay Rays through which Duke Energy contributes $1,000 for every Rays regular season win to organizations serving veterans. This is the fourth consecutive year of the partnership; since 2016, the program has funded $259,700, benefiting 33 recipient organizations throughout Duke Energy's Florida service territory. Grant application submissions for 2019 are open through Aug. 5. Organizations can apply online at duke-energy.com/victoriesforveterans. Selected organizations will be recognized at a Rays home game this September during pregame festivities with an on-field check presentation by Duke Energy and Rays representatives.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
7/25/2019Duke Energy Renewables announces the largest wind power project in its fleet - 350-MW Frontier Windpower II in Oklahoma
Source: PR Newswire
CHARLOTTE, N.C., July 24, 2019 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), today announced the largest wind power project in its fleet – the 350-megawatt (MW) Frontier Windpower II project in Kay County, Okla. The project is an expansion of Frontier Windpower, which has been operational since 2016. Once complete, Frontier I and II will generate a total of 550 MW of wind energy - enough to power approximately 193,000 homes.
Ball Corporation has signed a 15-year virtual power purchase agreement (VPPA) for 161 MW of the Frontier II project. Another major corporation has signed a VPPA for an additional 160 MW and will be announced later this year.
"Frontier II will deliver clean energy for Oklahoma and significant economic benefits to the area," said Rob Caldwell, president of Duke Energy Renewables. "We're pleased to be working with the Ball Corporation on the Frontier II project, which will be located in an area that has some of the best wind resources in the country."
"The renewable energy agreement with Duke Energy Renewables places Ball among the leading corporate buyers of renewable energy in our industry and the U.S., marking a critical moment in our sustainability journey," said John A. Hayes, chairman, president and CEO of Ball Corporation. "Utilizing renewable energy is an important lever to further enhance the sustainability credentials of our packaging and demonstrates our commitment to have the aluminum can recognized as the most sustainable package."
Ball was advised on the Frontier II VPPA by Schneider Electric Energy and Sustainability Services, which assisted the company in its project selection and negotiations.
Full mobilization for construction for Frontier II will occur later this summer, and the wind project will be fully operational by December 2020.
During peak construction, the wind project will create approximately 250 jobs.
Nordex Group will supply 74 4.8-MW wind turbines for the site.
"We are pleased to be working together with Duke Energy Renewables and particularly looking forward to working with one of the most experienced project developers in the U.S. This project will utilize one of the most modern turbines in the country. The turbine technology will maximize the wind resource in Oklahoma to benefit customers," says Patxi Landa, CSO of the Nordex Group.
The 350-MW Frontier Windpower II project will produce enough energy to power about 123,000 average homes.
Amshore US Wind provided development support for the project, and Wanzek Construction is the contractor.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Ball Corporation
Ball Corporation supplies innovative, sustainable packaging solutions for beverage, personal care and household products customers, as well as aerospace and other technologies and services primarily for the U.S. government. Ball Corporation and its subsidiaries employ 17,500 people worldwide and reported 2018 net sales of $11.6 billion. For more information about Ball, visit www.ball.com, or connect with us on Facebook or Twitter.
Nordex Group
The Nordex Group has installed more than 25 GW of wind energy capacity in over 40 markets and in 2018 generated revenues of around EUR 2.5 billion. The company currently has more than 5,500 employees. The joint manufacturing capacity includes factories in Germany, Spain, Brazil, the United States, India and in the near future Argentina and Mexico. The product portfolio is focused on onshore turbines in the 2.4 to 5.X MW class, which are tailor-made for the market requirements in countries with limited space and regions with limited grid capacity.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/24/2019Duke Energy invests more than $150,000 in South Carolina programs that will build diverse, talented workforce
Source: PR Newswire
GREENVILLE, S.C., July 23, 2019 /PRNewswire/ -- The Duke Energy Foundation has awarded more than $150,000 in grants to four South Carolina organizations to fund strategic initiatives that will help enhance and diversify the energy industry's workforce of tomorrow.
"We are making strategic investments in South Carolina to help build a talented workforce that drives economic prosperity for all," said Kodwo Ghartey-Tagoe, South Carolina state president for Duke Energy. "We have a long history of targeting investments to have the greatest impact for our communities. These grants continue that tradition and will help strengthen the workforce pipeline needed to fuel the Palmetto State's economic engine now and in the years to come."
The grants were awarded to the following organizations:
The Florence-Darlington Technical College program will provide students with networking opportunities with current leaders, workshops on how to find the right mentors and what to expect in the first five years in the engineering workforce.
"FDTC is happy to have Duke Energy's support of our pilot Women and Minorities in Engineering Technology Leadership Program," said FDTC Interim President Edward Bethea. "We're not only educating the future workforce, but also the leaders for that workforce. This program will make the transition into leadership roles within the engineering field much smoother for these bright, accomplished students."
The partnership between Clover School District, York School District One and York Technical College will make for a unique effort establishing the first high school lineworker certification program in South Carolina.
"The support of the Duke Energy Foundation and our collaborative partners will help ensure that students in this program exit high school ready for careers as utility line workers, meeting the labor market needs in our community and helping ensure success for our students," said Carrie Bolin, executive director of career and technology education for the Clover School District. "This program is a win for students and our community."
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. In 2018, the company donated more than $2 million to nonprofit organizations in South Carolina.
More information about the foundation can be found at duke-energy.com/foundation.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/23/20197/22/2019 - Duke Energy Renewables acquires 200-MW Holstein solar project in Texas from 8minute Solar Energy
Duke Energy Renewables acquires 200-MW Holstein solar project in Texas from 8minute Solar Energy
Source: PR Newswire
CHARLOTTE, N.C., July 22, 2019 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), is expanding its solar energy portfolio by acquiring the 200-MW Holstein solar project from 8minute Solar Energy. The project, located in Nolan County, Texas, will be the largest in Duke Energy Renewables' fleet once complete.
"We're pleased to add another Texas project to our growing renewables portfolio," said Rob Caldwell, president of Duke Energy Renewables. "The state has some of the best solar resources in the nation, making it a cost-efficient way to meet the energy needs of Texans. Besides clean energy, the project will also bring significant economic benefits to the state."
The Holstein solar project will be Duke Energy Renewables' third solar generation facility in Texas.
"There is no question in our mind that solar PV will be the dominant form of energy in Texas in the near future," said Tom Buttgenbach, president and CEO of 8minute Solar Energy. "We're proud to be working with Duke Energy and our other partners on this innovative project to deliver low-cost clean power to Texas' residents and businesses."
The 200-MW project will contain over 709,000 solar panels across approximately 1,300 acres in Wingate, Texas. Construction began in the summer of 2019 and is expected to be complete in the summer of 2020. The Holstein solar project will power the equivalent of 40,000 homes.
The project will employ up to 400 workers during peak construction.
Duke Energy Renewables acquired the project from 8minute Solar Energy, a leading developer of utility-scale solar projects. 8minute Solar Energy led the development of the project and brought the EPC, operation and maintenance (O&M), hedge, tax equity and debt counterparties to the project.
Much of the energy generated from the Holstein solar project will be sold through a 12-year term hedge agreement to J. Aron & Company LLC., a subsidiary of Goldman Sachs. This is the first Duke Energy Renewables solar project to utilize a hedge agreement.
SunTrust is providing a tax equity investment in the project. CIT Group and a consortium of banks are providing a construction loan, letter of credit and term loan facility for the project.
8minute Solar Energy engaged several advisory firms to close the transaction, including Snapper Creek Energy Advisors as the hedge advisor, CCA Capital providing tax equity and M&A advisory, and Norton Rose Fulbright, Orrick, Herrington & Sutcliffe, and Stahl, Davies, Sewell, Chavarria & Friend as legal counsel. The lenders were represented by Winston & Strawn, SunTrust was represented Akin Gump Strauss Hauer & Feld LLP, and Duke Energy Renewables was represented by Troutman Sanders and Duggins Wren Mann & Romero.
The facility's design, procurement of inverters, balance of plant systems and construction of the project are being performed by Blattner Energy. First Solar will provide O&M services for the project for five years beginning when the project has reached substantial completion, which is estimated to be in the summer of 2020.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
8minute Solar Energy
8minute Solar Energy ("8minute") is the largest independent developer of solar PV and storage projects in the United States. Founded a decade ago by President and CEO Tom Buttgenbach, 8minute has over 15 GW of solar and storage under development in California, the Southwest, Texas and the Southeast, with more than 2 GW of solar power plants now in operation. The company has also developed the largest solar plant in the nation, the 800-MW Mount Signal solar farm in California. 8minute has one of the best development teams in the industry with a track record of delivering above-market profitability and strong financial returns on utility-scale solar and storage projects. For more information, please visit www.8minute.com.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
7/22/20197/18/2019 - Duke Energy nears completion of conservation programs in Dan River region, finishes ash basin excavation
Duke Energy nears completion of conservation programs in Dan River region, finishes ash basin excavation
Source: PR Newswire
CHARLOTTE, N.C., July 18, 2019 /PRNewswire/ -- Duke Energy today announced the substantial completion of a number of conservation and recreation projects the company initiated in the wake of the February 2014 Dan River coal ash release, along with the completed excavation of the two coal ash basins at the former Dan River Steam Station.
Now the federal government is seeking public comment on the Dan River restoration plan as part of the Natural Resources Damage Assessment and Restoration (NRDAR) process, which is designed to address potential impacts from an environmental event.
In the wake of the 2014 ash release, water quality in the Dan River returned to normal in a few days, drinking water always remained safe, and continued testing has shown no impact on the river's aquatic life – the long-term monitoring report for the river is available here. However, there were temporary losses in fishing and recreational use of the river.
With input from state and federal agencies, and guided by stakeholder feedback gathered in the fall of 2014, Duke Energy selected several local conservation and recreation projects that community members said were important to them, including funding the protection of three parcels of land along the Mayo River; removing a dam on the Pigg River; improving Abreu Grogan Park in Danville, Va.; and creating additional public access on the Dan River.
"These environmental projects conserve important land, improve aquatic habitat and allow more community access to nature and the outdoors," said Paul Draovitch, Duke Energy senior vice president for environment, health and safety. "After collaborating with our neighbors, we moved forward quickly with restoration projects that would provide broad environmental and community value. We look forward to hearing the public's feedback on this important work."
Duke Energy proactively completed most of the projects outlined in the NRDAR restoration plan even before the plan was finalized. As part of the public review process, the Department of Justice and the Department of Interior have now made a required court filing, which includes details of the company's work and seeks comment before issuing the final report.
Details regarding the Duke Energy-funded conservation and recreation projects can be found as follows in the restoration plan:
Safe Ash Basin Closure
The company has made strong progress closing ash basins across North Carolina in a manner that continues to protect people and the environment. In May, Duke Energy completed excavation of the two coal ash basins at the former Dan River Steam Station, which closed in 2012 and was replaced with a combined-cycle station that same year.
Powered by natural gas, the 620-megawatt station is cleaner and more efficient, serving about 500,000 customers – nearly double the capacity of the retired steam station. In early June, third-party consultants confirmed the excavation was complete, ahead of regulator review for the Aug. 1 basin closure deadline.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Bill Norton
Office: 980.373.7276
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/18/20197/18/2019 - Duke Energy helps customers stay cool, manage energy use as heat wave lingers in Carolinas
Duke Energy helps customers stay cool, manage energy use as heat wave lingers in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., July 18, 2019 /PRNewswire/ -- Duke Energy is providing tools and tips to help customers in North Carolina and South Carolina save energy and money as the region's lingering heat wave continues.
"Extreme temperatures drive higher energy use since about half the energy consumers use is to heat or cool their homes," said Jim Henning, senior vice president of customer services. "As high temperatures continue throughout the summer, we want our customers to have the information and tools they need to help manage their energy costs."
The Duke Energy system is performing well and the team will continue to closely monitor the electric system to ensure its customers receive reliable power during the extended hot weather period.
High temperatures can lead to higher energy bills as Duke Energy customers try to stay cool this summer. The company is offering free tools and low- to no-cost tips to help customers manage energy use.
Track your energy usage
Customers with smart meters can check online to view their daily usage. Smart meters collect usage information by the hour, so checking spikes throughout the month – by day and even hour – can show what appliances and behaviors are increasing their bills.
Videos are available for customers with smart meters to learn how to track energy usage on a mobile device or a desktop computer.
Duke Energy customers with smart meters also receive usage alerts through email and/or text halfway through their billing cycle, well before their bill arrives, with their current usage amount and a projection of what their final monthly bill could be.
Customers can also set budget alerts so they know when their bill reaches a specific dollar amount of their choosing, allowing them to make adjustments to their usage and help save money on their bill.
Customers without smart meters can sign up to receive high bill alerts for when adverse weather is projected to increase their electric bills by at least 30 percent and $30 compared to historical usage.
Managing your bill
Equal Payment Plan gives customers better control over their energy spending by establishing predictable monthly payments.
Our online savings calculators help customers understand how their homes use energy – and how they can potentially reduce their consumption and better manage their summer bills.
Low- to no-cost summer energy efficiency tips
Additionally, below are some tips to help manage your energy costs all summer long.
Additional resources
Additionally, here are tips on how to understand your energy bill and avoid surprises during hot weather: https://illumination.duke-energy.com/articles/how-to-avoid-a-high-energy-bill-during-hot-weather.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
meghan.miles@duke-energy.com
Twitter – @DE_MeghanM
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SOURCE Duke Energy
Article Date
7/18/2019Duke Energy applauds Trump decision on uranium production
Source: PR Newswire
CHARLOTTE, N.C., July 13, 2019 /PRNewswire/ -- Duke Energy today issued the following statement in response to a decision by President Donald Trump declining to set uranium production quotas for the United States and ordering a new 90-day review by federal agencies.
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Duke Energy's mission is to deliver affordable, reliable, safe and clean energy for our customers. To that end, Duke Energy applauds President Trump's decision on the uranium 232 petition.
Simply put, the President's action ensures Americans can continue to rely on nuclear energy to keep power bills low, the lights on 24/7 and, with zero carbon and other air emissions, our environment clean. We look forward to collaborating with the Nuclear Working Group to craft clean energy policies that benefit all Americans.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/13/20197/10/2019 - Duke Energy awards more than $103,000 in grants for workforce education, training in Indiana
Duke Energy awards more than $103,000 in grants for workforce education, training in Indiana
Source: PR Newswire
PLAINFIELD, Ind., July 10, 2019 /PRNewswire/ -- Duke Energy has awarded grants totaling $103,397 to six Indiana organizations to promote workforce development and science, technology, engineering and math (STEM) education opportunities.
"The energy industry is changing rapidly and we need highly skilled and trained workers to tackle these new challenges head-on," said Stan Pinegar, Duke Energy state president for Indiana. "We have an obligation to help train and educate these workers to meet our customers' expectations in the months and years ahead."
Recent studies from the U.S. Department of Energy and U.S. Department of Labor show that 25 to 50 percent of utility employees will retire within the next five to 10 years. Among Duke Energy's nearly 30,000 employees nationwide, 42 percent will be eligible to retire in five years and 54 percent will be eligible to retire in 10 years. "Eligible to retire" is defined as 55 years of age or older with at least five years of service.
Here are details about the six workforce development grants:
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/10/2019Duke Energy increases quarterly dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., July 8, 2019 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.945 per share, an increase of $0.0175 per share. This dividend is payable on Sept. 16, 2019, to shareholders of record at the close of business Aug. 16, 2019.
The company also declared a quarterly cash dividend on the Series A preferred stock of $359.375 per share payable on Sept. 16, 2019, to shareholders of record at the close of business Aug. 16, 2019. This is equivalent to $0.359375 per depository share.
Duke Energy has paid a cash dividend on its common stock for 93 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
7/8/2019Duke Energy to announce second-quarter 2019 financial results on Aug. 6
Source: PR Newswire
CHARLOTTE, N.C., July 3, 2019 /PRNewswire/ -- Duke Energy will announce its second-quarter 2019 financial results at 7 a.m. ET on Tuesday, Aug. 6, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss second-quarter 2019 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 6866305. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET on Aug.16, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 6866305. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
7/3/2019Cleaner power and more reliable energy drive Duke Energy Indiana rate increase request
Source: PR Newswire
PLAINFIELD, Ind., July 2, 2019 /PRNewswire/ -- Generating cleaner electricity, improving the reliability of electric service, and investments to serve a growing customer base are some of the key factors leading Duke Energy to ask the Indiana Utility Regulatory Commission to increase its electric rates.
"We've made investments to meet the needs of a customer base that has grown by more than 100,000 since our last full-scale rate review," said Duke Energy Indiana President Stan Pinegar. "We also have environmental responsibilities and are taking significant steps to reduce our greenhouse gas emissions and move to a cleaner power generation mix. And we are upgrading our electric grid to improve reliability, help avoid power outages and speed service restoration when outages do occur."
Based on these drivers, the filing today with the Indiana Utility Regulatory Commission requests to increase annualized revenue by approximately $395 million, for an overall average rate increase of about 15% across all customer groups. If approved, the increase will be added to bills in two steps, approximately 13% in mid-2020 and 2% in 2021.Timing will depend on state regulatory commission action.
The increase will vary among consumers depending on the cost to serve different types of customers. If approved by the commission, the company's typical residential customer using 1,000 kilowatt-hours a month could expect a monthly bill increase of about $23, or approximately 77 cents per day, which includes both steps of the increase.
To help customers save on their electric bills, the company is proposing a pilot program with time-of-use rates where customers can lower their bills on high power demand days by shifting their power usage to times of day when energy is less expensive.
Duke Energy Indiana's overall average electric rate is currently below state, regional and national averages and is the lowest overall electric rate average in Indiana.
The company also has the lowest customer basic facilities charge in the state. It's part of every monthly bill and is intended to cover the cost of the facilities the company has installed to deliver electricity to a customer's home. It is expected to remain the lowest in Indiana after this increase.
The regulatory review process will include an opportunity for public comment.
The proposed new rates would be used to cover a range of innovations, upgrades and improvements that customers value, including:
Investments to accommodate growth
Transitioning to cleaner energy
Improving reliability and reducing power outages
Providing customers with more convenience
New rate options
The company is also offering new electric rate proposals for state regulators to consider.
Money-saving opportunities for customers
Duke Energy has programs to help customers manage their electricity costs and their bills.
"We're committed to helping customers find ways to save energy through our energy efficiency and bill-lowering tools," Pinegar said. "We also have assistance for low-income customers and work with our state's network of community action agencies to provide help."
Customers can visit duke-energy.com/home/savings for energy-saving tips and programs. The company also has programs to help customers with managing their bills. Learn more at duke-energy.com/home/billing/special-assistance.
To learn more about Duke Energy's proposed rate increase, visit duke-energy.com/IndianaRates.
Duke Energy
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.266.3853
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SOURCE Duke Energy
Article Date
7/2/2019Duke Energy passes major renewable milestone: 1 gigawatt of owned solar energy capacity
Source: PR Newswire
CHARLOTTE, N.C., July 2, 2019 /PRNewswire/ -- With the North Rosamond Solar Facility coming online last month in California, Duke Energy has passed the 1-gigawatt (GW) threshold of utility-scale owned and operated solar facilities nationwide.
Throughout the decade, Duke Energy has been building a solar portfolio that now includes almost 70 sites in 10 states, with a total capacity of 1.1 GW. At peak output, that could serve energy to approximately 2 million homes.
"For nearly a decade, Duke Energy has been delivering affordable solar power to our customers. This provides significant economic benefits to our communities, while generating no environmental emissions," said Rob Caldwell, senior vice president and president of Duke Energy Renewables & Business Development.
In additional to owning and operating solar facilities, Duke Energy is one of the largest purchasers of solar power in the nation for its customers. Currently, the company purchases the output from more than 3 GW of capacity in states where it serves retail customers. Taken together, the 4 GW of owned and purchased renewables make up more than 9% of Duke Energy's generated electricity.
North Carolina is Duke Energy's biggest solar state – in addition to being the No. 2 state in the nation for overall solar power. The company owns 40 solar facilities in the state, including the 80-megawatt (MW) Conetoe Solar Facility in Edgecombe County, the 65-MW Warsaw Solar Facility in Duplin County and the 60-MW Monroe Solar Facility in Union County.
In April, the company said it would develop and own more major projects in the state. Also, Duke Energy Progress, the utility that serves portions of North Carolina and South Carolina, has been on the annual Top 10 list for utilities adding solar for the past seven years.
In Florida, Duke Energy has over 100 MW of solar generation in operation and four more solar plants targeted for operation by the end of March 2020. That represents an additional 270 MW of clean energy for customers. These investments are part of an overall solar generation expansion plan to reliably and cost-effectively grow Duke Energy Florida's solar portfolio to 700 MW by 2022.
California is Duke Energy's second-largest solar state, with 12 sites and more than 340 MW of capacity. Duke Energy Renewables continues to expand in the No. 1 solar state in the nation.
"Our future shows even more solar being built and operated by Duke Energy," added Caldwell. "One GW is a notable milestone, but we have plans for much more."
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
7/2/2019Duke Energy to offer Bloom Energy distributed fuel cell technology to customers
Source: PR Newswire
CHARLOTTE, N.C. and SAN JOSE, Calif., July 1, 2019 /PRNewswire/ -- A subsidiary of Duke Energy (NYSE: DUK) today announced it will acquire a portfolio of distributed fuel cell technology projects from Bloom Energy Corporation (NYSE: BE), as part of the company's efforts to serve commercial and industrial customers' evolving energy needs and provide behind-the-meter generation.
The company will purchase approximately 37 megawatts of Bloom Energy Servers and has already secured long-term power purchase agreements with creditworthy customers primarily located in California, Connecticut, Maryland and New York.
"Commercial and industrial customers want resilient, clean energy at predictable costs and solutions tailored for their business needs – and with this technology, we can provide just that," said Swati Daji, Duke Energy's senior vice president of customer solutions and strategies. "We are excited to give our customers a more affordable, reliable, innovative generation source with Bloom Energy's innovative fuel cells, and we look forward to further developing and customizing more options in the future."
Duke Energy One, a non-regulated subsidiary of Duke Energy, formed a potential long-term strategic alliance with Bloom Energy, marking another step forward in expanding energy products and services available for commercial and industrial customers.
Bloom Energy Servers are unique in the utility sector, producing energy by converting natural gas or biogas into electricity without combustion. Based on solid oxide fuel cell technology, the Energy Servers generate cleaner power around the clock and reduce greenhouse-gas emissions by comparable amounts to zero-emission wind and solar power on an annual basis.1
Bloom Energy Servers also do not generate combustion-related pollutants, such as sulphur oxides, nitrogen oxides or particulate matter.
Customers benefit from low-emission, baseload power 24/7 and fewer intermittent interruptions in power flow for their facilities and operations.
"Duke Energy's investment is a significant validation of the Bloom Energy Server value proposition," said Randy Furr, chief financial officer at Bloom Energy. "Now, more than ever, commercial and industrial customers need power that is reliable, resilient and affordable. As one of the largest electric power holding companies in the U.S., Duke Energy understands that dynamic perfectly, and we are delighted to be partnering with the organization."
Over the next 18 months, the two companies will deploy the servers at more than 30 sites across a portfolio of customers, including hospitals, technology companies, data centers and universities.
This deployment continues Duke Energy's efforts to invest in cleaner generation, reduce carbon emissions and build a smarter energy future for our customers.
Morgan Stanley & Co. LLC was Bloom Energy's exclusive financial advisor for this transaction.
1 Bloom Energy: https://www.bloomenergy.com/whitepapers/fuel-cell-emissions
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Bloom Energy
Bloom Energy's mission is to make clean, reliable, and affordable energy for everyone in the world. The Company's product, the Bloom Energy Server, delivers highly reliable and resilient, 'Always-On' electric power that is clean and sustainable. Bloom's customers include twenty-five of the Fortune 100 companies and leaders in cloud services and data centers, healthcare, retail, financial services, utilities and many other industries. For more information, visit www.bloomenergy.com.
Cautionary Note Regarding Forward-Looking Statements:
Certain information contained in this release is forward-looking information based on current expectations and plans that involve risks and uncertainties. Forward-looking information includes, among other things, statements concerning the planned fuel cell project. Duke Energy and Bloom Energy Corporation caution that there are certain factors that can cause actual results to differ materially from the forward-looking information that has been provided. The reader is cautioned not to put undue reliance on this forward-looking information, which is not a guarantee of future performance and is subject to a number of uncertainties and other factors, many of which are outside the control of Duke Energy and Bloom Energy Corporation; accordingly, there can be no assurance that such suggested results will be realized. The following factors, in addition to those discussed in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2018, and subsequent securities filings, and Bloom Energy Corporation's Annual Report on Form 10-K for the year ended December 31, 2018, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2019 and subsequent filings with the Securities and Exchange Commission, could cause actual results to differ materially from each company's expectations as suggested by such forward-looking information: the ability to control costs and avoid cost and schedule overruns during the development, construction and operation of generating facilities; the ability to construct facilities in accordance with the requirements of permits and licenses and to satisfy any environmental performance standards and the requirements of tax credits and other incentives; and potential business strategies, including acquisitions or dispositions of assets or businesses, which cannot be assured to be completed or beneficial to Duke Energy or Bloom Energy Corporation. The information in this press release is as of July 1, 2019. Duke Energy and Bloom Energy Corporation expressly disclaim any obligation to update any forward-looking information, except as required by law.
Duke Energy Contact: Catherine Butler
24-Hour Media Line: 800.559.3853
Bloom Energy Contact: Erica Osian
erica.osian@bloomenergy.com
Office: 401.714.6883
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SOURCE Duke Energy
Article Date
7/1/2019Duke Energy board appoints Nicholas Fanandakis as board member
Source: PR Newswire
CHARLOTTE, N.C., June 26, 2019 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of DowDuPont executive vice president Nicholas Fanandakis as a new board member, effective today.
Fanandakis served as DuPont's chief financial officer from 2009 until 2017, when DuPont merged with Dow Chemical Co., creating DowDuPont. He continued to serve as CFO of the DuPont legal entity within DowDuPont until earlier this year.
"Nick Fanandakis is a customer-focused, highly experienced senior leader who has helped guide his company in a complex, constantly changing industry," said Lynn Good, Duke Energy's chairman, president and CEO. "His insights and knowledge will be valuable to our board as Duke Energy similarly moves forward in a rapidly transforming industry."
Fanandakis will join two Duke Energy board committees: finance and risk management committee, and audit committee.
He began his career at DuPont in 1979 in the petrochemicals department, followed by a variety of positions across the company before assuming a series of leadership roles, focused primarily on the industrial solutions, chemical and applied biosciences markets.
Fanandakis was instrumental in DuPont's transformation, overseeing the business portfolio's reshaping, including the acquisition of Danisco, sale of the coatings business, and spinoff of the chemical division.
He also played a key role in DowDuPont's post-merger, recently concluded division into three independent, publicly traded companies: Dow (former materials science division), Corteva Agriscience (agriculture division) and DuPont (specialty products division).
Fanandakis is retiring in July after a 40-year career at DuPont and later DowDuPont.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
6/26/2019Duke Energy Renewables to use new technology to help protect bats at its wind sites
Source: PR Newswire
CHARLOTTE, N.C., June 26, 2019 /PRNewswire/ -- Texas leads the nation in wind energy generation with thousands of wind turbines throughout the state. This is a boon for clean energy generation but not for the state's large population of bats, which are often drawn to the spinning turbines.
To help discourage them from approaching, Duke Energy Renewables is working with NRG Systems, Inc. to install an innovative bat deterrent system. The technology uses ultrasound to block the sonar that bats use to navigate in the dark, causing them to avoid areas around the wind turbines.
Duke Energy Renewables will install NRG Systems' Bat Deterrent System over a five-year period at 255 wind turbines at its Los Vientos III, IV and V wind sites beginning in July 2019. This will mark the first commercial deployment of the Bat Deterrent System in the continental U.S.
The Rio Grande Valley, where the Los Vientos wind projects are located, has a robust population of common bat species that provide tremendous pest control benefits to local farmers and ranchers. Maintaining this local bat population was the impetus behind a two-year field study conducted by Duke Energy Renewables, NRG Systems and Texas State University. The study found that the Bat Deterrent System reduced overall bat fatalities by 50% around wind turbine locations at Los Vientos III, IV and V.
"At Duke Energy, we're focused on generating clean, renewable energy for customers while also protecting the native wildlife around our generation facilities," said Greg Aldrich, lead environmental scientist with Duke Energy. "With this new technology, we're pleased that we'll be able to significantly reduce the impacts on bats and continue our environmental leadership in this area."
"We are endlessly grateful to the entire Duke Energy team for the crucial role they played in bringing this technology to market," said Brogan Morton, senior product manager at NRG Systems. "Their participation in the two-year study coupled with their willingness to share their expertise with us helped us create a commercially viable Bat Deterrent System that we expect will have considerable benefits both in terms of wildlife conservation and renewable energy generation. Their implementation of our systems at Los Vientos is the next chapter in what has so far been a successful and rewarding collaboration."
How NRG Systems' Bat Deterrent System works
The NRG Systems' Bat Deterrent System is mounted on the nacelle (the covering that houses all the generating components) of the wind turbine. Once installed, it emits continuous ultrasonic energy in the same frequency range as the bat's bio sonar used to orient, forage and locate objects.
When bats enter the airspace where the deterrent units are operating, the ultrasonic energy essentially disrupts their bio sonar, making it difficult for them to find food sources and navigate their surroundings. This effectively minimizes bats' interactions with the wind turbines. The ultrasonic field emitted by the Bat Deterrent System does not harm the bats and quickly dissipates beyond the turbine rotor sweep. The sound cannot be heard by humans and does not impact other wildlife or livestock.
Research study methodology and results
Duke Energy worked with researchers from Texas State University and NRG Systems to field test the Bat Deterrent System on 16 2-megawatt wind turbines located throughout Los Vientos III, IV and V in Starr County, Texas.
Sara Weaver, PhD, biology lecturer at A&M, San Antonio, who led the Los Vientos study during her doctoral candidacy at Texas State University, said, "Our results from this robust, two-year study indicate that NRG's acoustic deterrents significantly reduce Brazilian free-tailed bat and hoary bat fatalities. Based on these results, the technology is a promising tool for reducing bat fatalities at wind turbines."
Funding for the research came from the Texas Parks & Wildlife Department and Bat Conservation International.
"Bats play an important role in our ecosystem and many species are facing unprecedented threats from disease and habitat alteration. By taking voluntary steps to minimize impacts on our native species, Duke Energy is setting an example of proactive environmental stewardship. We are impressed by their leadership and encourage others in the industry to consider similar actions, "said Jonah Evans, mammalogist with the Texas Parks & Wildlife Department.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About NRG Systems, Inc.
NRG Systems, Inc., a subsidiary of ESCO Technologies Inc. (NYSE: ESE), revolutionized the way wind resource assessment was done more than 36 years ago. Today, this heritage of innovation drives everything they do. The company is dedicated to designing and manufacturing smart technologies for a more sustainable planet – that means more renewable energy, cleaner air, and a safer environment for all. Their measurement systems, turbine control sensors, Bat Deterrent Systems, and Lidar remote sensors can be found in more than 170 countries. For more information, visit nrgsystems.com.
About Texas State University
Founded in 1899, Texas State University is among the largest universities in Texas with an enrollment of 38,694 students on campuses in San Marcos and Round Rock. Texas State's 189,000-plus alumni are a powerful force in serving the economic workforce needs of Texas and throughout the world. Designated an Emerging Research University by the State of Texas, Texas State is classified under "Doctoral Universities: Higher Research Activity," the second-highest designation for research institutions under the Carnegie classification system. For more information, visit txstate.edu.
Contact: Jennifer Garber / Duke Energy
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/26/2019Duke Energy Renewables' largest solar project now online in California
Source: PR Newswire
CHARLOTTE, N.C., June 19, 2019 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy (NYSE: DUK), today announced that its 150-megawatt (MW) North Rosamond solar project in Kern County, Calif., has begun commercial operation. It is the largest solar project in Duke Energy Renewables' fleet.
"North Rosamond is a great addition to our growing solar portfolio," said Rob Caldwell, president of Duke Energy Renewables. "California is a leader in renewable energy, and we're pleased to support the state's efforts by continuing to provide cost-efficient renewable energy to meet residents' needs."
The 150-MW project, which contains over 477,000 solar panels, is located on approximately 1,188 acres outside of Rosamond, Calif., and will power approximately 71,000 homes. The North Rosamond solar project is Duke Energy Renewables' sixth solar generation facility in Kern County.
The energy generated from the North Rosamond solar project is being sold to Southern California Edison under a 15-year agreement.
The project, which Duke Energy Renewables acquired from a subsidiary of Clearway Energy Group in April 2019, employed as many as 500 individuals during the peak construction period.
The facility's design, procurement of PV modules, inverters, balance of plant systems and construction of the project were performed by First Solar Electric California's engineering, procurement and construction (EPC) subsidiary under a fixed-price EPC agreement for the project.
The U.S. Bancorp Community Development Corporation, the tax credit division of U.S. Bank; M&T Bank's Commercial Equipment Finance Group; and The Guardian Life Insurance Company of America provided tax equity financing to the project.
CIT's Power and Energy group led a consortium of lending institutions that provided construction loan and ITC bridge loan facilities to fund equipment, engineering, construction and other costs needed to achieve final completion of the project. These facilities will be converted to a single term loan facility that will be used to finance the project over the next 15 years.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/19/20196/18/2019 - REC Solar saves California school district millions through innovative solar energy solutions
REC Solar saves California school district millions through innovative solar energy solutions
Source: PR Newswire
SAN LUIS OBISPO, Calif., June 18, 2019 /PRNewswire/ -- REC Solar, a subsidiary of Duke Energy Renewables, is working with the Pleasanton Unified School District in Pleasanton, Calif., to utilize solar plus energy storage solutions to significantly cut its emissions and save on energy costs.
The project will include the installation of 1 megawatt (MW) of solar carports and a 660 kilowatt-hour (kWh) battery energy storage system at Pleasanton Unified's Amador Valley High School.
The investment is projected to save the Pleasanton Unified School District more than $2.2 million over the 25-year lifetime of the power purchase agreement, which will be financed by Duke Energy Renewables.
"Pleasanton Unified is a great example of the U.S. education market's increasing desire to tap on-site solar generation combined with energy storage," said Matt Walz, CEO of REC Solar. "By choosing solar plus storage, the district will further control costs under new time-of-use rates, reduce demand charges and cut emissions during peak hours when the electric grid is stressed by high demand."
Pleasanton Unified, which is a public primary and secondary education school district located east of San Francisco, is the latest installation at more than 100 California districts and schools where REC Solar has implemented clean energy generation and storage solutions.
According to Wood Mackenzie Power & Renewables, a leading energy research and consultancy firm, the Pleasanton Unified School District is an example of why education is one of the sectors driving 13-fold growth in energy storage globally by 2024.
"Education services is the largest subsegment of commercial and industrial customers today," said Brett Simon, senior storage analyst at Wood Mackenzie Power & Renewables. "School boards and universities make ideal customers for storage developers. They are willing to accept longer payback periods compared to private-sector customers, have multiple buildings to allow for many deployments from a single contract, and usually have needs for bill reduction and resilience."
"For many years it has been our goal to educate global citizens while focusing on projects that improve the health and well-being of our students, staff and community," said David Haglund, Ed.D., Pleasanton Unified School District superintendent. "As cutting emissions is crucial to our global future, our project to install solar generation plus battery storage will benefit our students for decades."
Pleasanton Unified School District is also reconfiguring the parking lot at the school to maximize performance of the solar arrays while also enhancing the lot's accessibility and safety features. The new solar arrays will provide up to 97% of the high school's current energy use and greenhouse gas emissions elimination. Students will also have access to REC Solar's Greenpower Monitor tool and data for hands-on learning opportunities.
About REC Solar
REC Solar has helped more than 700 commercial, public sector and utility-scale solar customers think differently about energy since its founding in 1997. REC Solar offers all expert design, engineering, financing, operations and maintenance services in-house, allowing for a simple customer experience. Getting solar, storage and microgrid proposals is easy with REC Solar. For more information, visit RECSolar.com.
About Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Pleasanton Unified School District
Pleasanton Unified School District serves nearly 15,000 students in 15 schools (nine elementary schools, three middle schools, two comprehensive high schools, one continuation high school). Our mission is simple: Our students will make a better world. For more information, visit our website: https://www.pleasantonusd.net/.
Contact: Ann Kroll / REC Solar
Office: 805.471.0085
Contact: Jennifer Garber / Duke Energy
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/18/2019Three Florida counties selected for Duke Energy's 2019 Site Readiness Program that spurs economic development and jobs
Source: PR Newswire
ST. PETERSBURG, Fla., June 17, 2019 /PRNewswire/ -- When communities grow and thrive, everyone benefits. That's the principle behind Duke Energy's Site Readiness Program, which aims to increase the number of competitive industrial sites in the company's service territory. This year, locations in Sumter, Highlands and Lake counties have been selected, bringing the number of diverse Florida sites chosen for the program to 26 since its launch in the state six years ago.
Duke Energy partners with communities and site selection experts to identify and evaluate locations within its 35-county Florida service territory. The sites ultimately chosen for the program provide the greatest potential for attracting businesses and bringing new jobs to the area.
"Our Site Readiness Program is a long-term investment in local people and vibrant communities," said Elizabeth Godwin, site readiness program manager, Duke Energy. "Coupling competitive sites, prime for development, with effective workforce strategies leads to successful projects that transform lives through new jobs and benefit communities with added tax revenues."
2019 Selected Sites
Sumter County
The Governor Rick Scott Industrial Park includes 431 acres and is adjacent to Interstate 75 and the CSX railroad.
"Partnering with Duke Energy on the site readiness study for this large industrial site in Sumter County is a tremendous opportunity to position it for rapid development," said Frank Calascione, Sumter County's economic development director. "With an enviable list of attributes including rail, water, sewer, fiber and natural gas, the site is perfect for industrial development. However, by taking the opportunity to pre-emptively answer the many questions involved in a site's development, all stakeholders are in a better position to advance the project."
Highlands County
The North Highlands Industrial Site is 123 acres and near the recently announced Nucor Corporation's micro-mill steel rebar facility, just north of the Highlands County line.
"Highlands County is excited and honored to be selected by Duke Energy to participate in their Site Readiness Program and for the opportunity to work with Global Location Strategies," stated Meghan DiGiacomo, business development manager, Highlands County Economic Development. "The site with CSX mainline rail in north Avon Park is centrally located and poised for industrial development opportunities, particularly with the incoming neighbor to the north, Nucor Steel Florida."
Lake County
This 115-acre site is located east of the Christopher C. Ford Industrial Park, which is recognized as the most successful park in Lake County.
"Understanding a site's strengths and shortcomings is critical for attracting quality economic development projects," said Tracy Garcia, director, Elevate Lake Economic Development. "This property is in one of Lake County's hottest areas poised for exponential growth, where U.S. Highway 27, SR-19 and the Florida Turnpike converge, and Duke Energy's Site Readiness Program will help to identify essential infrastructure that is needed for successful recruitment of targeted industries."
Next Steps
Duke Energy is working with Global Location Strategies, based in Greenville, S.C., to evaluate the properties. Global Location Strategies helps manufacturing and industrial companies find locations for projects with intensive capital, labor, energy and water requirements. Ardurra Group's Tampa, Fla., engineering office will support the program with buildable area studies and conceptual drawings for each site evaluation.
After each evaluation is completed, the property and its attributes are strategically marketed nationwide to companies seeking to expand or relocate their operations.
Site Readiness Program Wins
Within Duke Energy's subsidiaries in the Carolinas, Florida, Indiana, Ohio and Kentucky, the Site Readiness Program has resulted in 41 major project wins since 2005. These industrial projects are expected to produce 9,200 new jobs while spurring more than $7.6 billion in capital investments. The program was recognized by Southern Business and Development magazine as one of the "South's Top 10 Site Programs" and was noted as one of the main reasons the company has been consistently named as one of the nation's "Top 10 Utility Economic Development Programs" by Site Selection magazine.
For more information about Duke Energy's economic development programs, or to inquire about available project-ready sites, visit duke-energy.com/economic.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Janine Saunders
Office: 727.820.4411 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/17/2019Duke Energy awards more than $200,000 in grants for workforce education and training across Greater Cincinnati
Source: PR Newswire
CINCINNATI, June 17, 2019 /PRNewswire/ -- Duke Energy today announced $203,315 in grants to eight organizations focused on workforce development across Greater Cincinnati. The primary objective of the funding is to support new and expanded education and training programs to prepare the next generation of energy workers across the region.
"Even though the U.S. and local job markets are strong, America's energy needs continue to grow and evolve, requiring a future workforce with new skills and abilities," said Amy Spiller, Duke Energy's president in Ohio and Kentucky. "We're preparing Greater Cincinnati residents for this new energy economy by equipping them with the knowledge and abilities needed to have successful careers in the energy sector."
Recent studies from the U.S. Department of Energy and U.S. Department of Labor show that 25%-50% of utility employees will retire within the next five to 10 years. Among Duke Energy's nearly 30,000 employees nationwide, 42% will be eligible to retire in five years and 54% will be eligible to retire in 10 years. "Eligible to retire" is defined as 55 years of age or older with at least five years of service.
"Funding these workforce initiatives is just one way Duke Energy is building a talent pipeline that will power our regional economy for years to come," said Spiller. "We also provide significant financial support annually for Greater Cincinnati programs that prevent summer reading loss while also advancing energy, engineering and environmental education among K-12 students."
Here are details about the eight workforce development grants announced earlier today during an event at Gateway Community and Technical College in Florence, Ky.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/17/2019Be prepared for hurricane season with safety tips from Piedmont Natural Gas
Source: PR Newswire
CHARLOTTE, N.C., June 13, 2019 /PRNewswire/ -- Hurricane season is officially here and Piedmont Natural Gas is urging customers to follow a few simple tips to stay safe if their natural gas equipment or appliances are damaged or flooded due to severe weather.
The National Oceanic and Atmospheric Administration's Climate Prediction Center is predicting a near-normal Atlantic hurricane season, June 1 through Nov. 30. The NOAA forecast calls for nine to 15 named storms of which four to eight could become hurricanes. Of those, two to four could become major hurricanes.
"Flooding is typically the greatest storm-related risk to natural gas equipment and appliances, and we want to make sure our customers know how to stay safe this hurricane season," said Keith Napier, director of natural gas operations for Piedmont Natural Gas. "Following a hurricane or any other severe weather event, Piedmont will be there to support its customers and to deliver reliable, safe natural gas service."
With safety as its No.1 priority, Piedmont developed a Severe Weather Safety Bulletin to keep customers safe in the event of flooding or water damage, including what to do if water has entered your home, your natural gas appliances have been damaged by water or you suspect a natural gas leak.
In response to flooding, Piedmont crews will respond to affected neighborhoods to inspect natural gas meters for signs of submersion. Any meter believed to have been submerged will be removed and natural gas service will be turned off. Customers will be notified to have their natural gas appliances inspected for safe operation by Piedmont Natural Gas or another licensed contractor before service can be restored.
Piedmont's Severe Weather Safety Bulletin, available at piedmontng.com/severe-weather, offers comprehensive safety information, including the following tips for residents affected by flooding:
If you suspect your meter or natural gas appliances have sustained water damage or if you suspect damage to natural gas lines due to uprooted trees and other wind-related damage, please call Piedmont at 800.752.7504.
About Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Media Line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
6/13/2019Duke Energy Progress files annual adjustments with North Carolina Utilities Commission for customers in North Carolina
Source: PR Newswire
RALEIGH, N.C., June 11, 2019 /PRNewswire/ -- Duke Energy Progress today made its annual filings with the North Carolina Utilities Commission (NCUC) for costs associated with fuel, compliance with the state's renewable energy portfolio standard (REPS), cost recovery under the Joint Agency Asset Rider (JAAR), and implementation of energy efficiency (EE) and demand-side management (DSM) programs.
In its filing, Duke Energy Progress is proposing a decrease in monthly fuel costs as part of an annual adjustment of the actual cost of fuel used to power North Carolina homes and businesses through renewable, natural gas, nuclear and coal-fired generation. By law, the company makes no profit from the fuel component of rates.
The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. The NCUC is responsible for reviewing the actual fuel costs required to serve customers to ensure an accurate adjustment is made each year.
The percentage change on a typical bill would be an average decrease of 3.3 percent for residential customers, 4.4 percent for commercial customers and 1.9 percent for industrial customers. The total monthly impact of all rate changes for a typical residential customer using 1,000 kilowatt-hours (kWh) per month would be a decrease of $4, from $120.95 to $116.95.
The new fuel, REPS and JAAR rates would go into effect Dec. 1, 2019, and the new EE and DSM rates would go into effect Jan. 1, 2020.
Helping customers save
Duke Energy Progress works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs.
Duke Energy Progress is also committed to helping customers take control of their energy use and manage their bills. The company offers energy-saving tips and innovative efficiency programs for every budget to help customers realize additional savings.
For example, the Home Energy House Call is a free in-home energy assessment, valued at $180, designed to give Duke Energy customers more information about how they use energy in their home and strategies to save money on their monthly bill.
To learn more about these programs, visit duke-energy.com/savings.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/11/20196/11/2019 - Duke Energy earns EEI Emergency Recovery Award for Winter Storm Diego power restoration efforts
Duke Energy earns EEI Emergency Recovery Award for Winter Storm Diego power restoration efforts
Source: PR Newswire
CHARLOTTE, N.C., June 11, 2019 /PRNewswire/ -- The Edison Electric Institute (EEI) today presented Duke Energy with the association's "Emergency Recovery Award" for its outstanding power restoration efforts after Winter Storm Diego hit the Carolinas in December 2018.
The Emergency Recovery Award is given to select EEI member companies to recognize their extraordinary efforts to restore power to customers after service disruptions caused by severe weather conditions or other natural events.
The winners are chosen by a panel of judges following an international nomination process. Duke Energy received the award in Philadelphia during EEI 2019, the electric power industry's premier annual conference.
"Duke Energy is deserving of this award for its efforts to restore service quickly and safely in the Carolinas after Winter Storm Diego," said EEI President Tom Kuhn. "The dedication of Duke Energy's crews reflects our industry's commitment to our customers, and I thank them for their tireless work."
Winter Storm Diego brought snow, sleet and freezing rain through parts of North Carolina and portions of upstate South Carolina, resulting in more than 763,000 service outages in Duke Energy's territory.
Duke Energy's crews restored service to 100% of customers who could receive power within four days after the storm, dedicating more than 116,000 man-hours to the recovery.
"Winter Strom Diego rolled through the Carolinas on the heels of Hurricane Florence and Tropical Storm Michael," said Harry Sideris, Duke Energy senior vice president and chief distribution officer. "The end of 2018 hit the Carolinas hard with severe weather and power outages, and we appreciate the patience from our customers as our crews battled Diego's aftermath and the coordination with our government partners and other utilities who worked with us to restore power to our communities."
Hear from some of the 9,000 crews who worked in treacherous conditions to restore power after the storm hit: https://illumination.duke-energy.com/articles/in-snow-and-ice-crews-determined-to-restore-power.
Duke Energy has received 22 EEI awards since the awards began in 1998, including seven assistance awards and 15 recovery awards.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
EEI
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 65 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
Contact: Meghan Miles
24-Hour: 800.559.3853
meghan.miles@duke-energy.com
Twitter - @DE_MeghanM
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SOURCE Duke Energy
Article Date
6/11/2019Duke Energy Progress continues to be a shining star for solar power
Source: PR Newswire
CHARLOTTE, N.C., June 10, 2019 /PRNewswire/ -- Duke Energy Progress (DEP) continues to be one of the leading solar utilities in the nation.
In the Top 10 utility solar lists compiled by the Smart Electric Power Alliance (SEPA), Duke Energy Progress was ranked fourth among all utility companies for bringing on new solar capacity during 2018. It is the seventh straight year Duke Energy Progress has been ranked in the Top 10 nationwide.
"Duke Energy customers are benefiting from the growth and expansion of solar generation in the region," said Rob Caldwell, senior vice president and president of Duke Energy Renewables & Business Development. "We expect to continue to spur more renewable energy development in the regions we serve in the years to come."
DEP's 436 megawatts of owned and purchased capacity for customers in 2018 helped it land the No. 4 spot in the nation. Overall, North Carolina is second in the nation for installed solar capacity.
"The utilities in the Top 10 are truly spearheading the progress we've seen in the electric sector this past year," said Julia Hamm, SEPA's president and CEO. "It goes beyond just solar – they are implementing replicable business models and paving the way to a clean and modern energy future, something that won't be possible without utilities' leadership and cooperation."
The rankings were part of SEPA's Utility Solar Market Snapshot – collecting figures from more than 500 utilities across the country on solar connected to the grid in 2018.
The full Top 10 listings are available online here.
Duke Energy is one of the nation's leading renewable energy companies and has invested more than $6 billion in renewable energy. The company operates more than 20 wind facilities and 60 solar facilities in over 20 states around the nation.
Duke Energy already has more than 3,000 MW of solar capacity connected to its grid in the Carolinas, which includes those owned by Duke Energy and those owned by other companies. That output could power the energy needs of more than a half million homes.
About SEPA
The Smart Electric Power Alliance (SEPA) is an educational nonprofit working to facilitate the electric power industry's smart transition to a clean and modern energy future through education, research, standards and collaboration. SEPA offers a range of research initiatives and resources, as well as conferences, educational events, advisory services and professional networking opportunities. SEPA is founder and co-sponsor of Solar Power International (now North American Smart Energy Week) and winner of the Keystone Policy Center's 2016 Leadership in Energy Award. For more information, visit www.sepapower.org.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
6/10/2019Duke Energy offers solar service program tailored to businesses, schools and nonprofits
Source: PR Newswire
PLAINFIELD, Ind., June 6, 2019 /PRNewswire/ -- The Indiana Utility Regulatory Commission has approved a Duke Energy customer pilot program that makes it easier for businesses, schools and nonprofits to have solar energy at their facilities.
Under the program, these eligible customers lease a solar energy facility from Duke Energy for a period of up to 20 years, while Duke Energy installs, operates, owns and maintains the facility. Customers would receive all of the kilowatt-hour output of the solar energy equipment through a net-metering arrangement. It gives customers the advantages for solar power with minimal upfront costs and no maintenance fees.
"This program gives our business and nonprofit customers, including schools and local governments, another option to incorporate clean, renewable energy into their energy mix through a cost-effective leasing arrangement," said Stan Pinegar, Duke Energy state president for Indiana.
Initial capacity is limited to a total of 10 megawatts for eligible customers within the Duke Energy Indiana service territory.
All costs associated with the voluntary program will be borne by participating customers only, so that non-participating customers are not impacted.
This program joins the company's other efforts to promote clean, renewable solar power, including building and operating a 17-megawatt (MW) solar plant at a southern Indiana naval base and purchasing up to 20 MW of solar power from four solar sites that generate up to 5 MW each.
In addition, Duke Energy is investing in battery storage technology in Indiana in the town of Nabb and at Camp Atterbury. The company is also funding $1.5 million in research at the Battery Innovation Center at the Crane Naval Surface Warfare Center to study how battery storage can maximize renewable power sources.
Other renewable programs include the company's GoGreen Indiana program, which gives customers the ability to support the development of green power sources. Customers can purchase a minimum of two 100-kilowatt-hour (kWh) blocks of green power for $1.80 per month. The 200-kWh commitment equates to about 20 percent of an average residential customer's energy use and helps to avoid 4,800 pounds of carbon dioxide emissions each year.
And the current upgrade and modernization of the company's nearly 50-year-old Markand Hydro Station near Florence, Ind., along the Ohio River, will ensure our customers can continue to reap the benefits of low-cost, carbon-free electric generation for years to come.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/6/2019Duke Energy Florida to build its largest battery storage projects yet
Source: PR Newswire
ST. PETERSBURG, Fla., June 3, 2019 /PRNewswire/ -- Duke Energy Florida (DEF) today announced three battery storage projects, totaling 22 megawatts, that will improve overall reliability and support critical services during power outages.
Collectively, the storage facilities will enhance grid operations, increase efficiencies and improve overall reliability for surrounding communities.
They will also provide important backup generation during power outages, a service that is becoming increasingly important with the number and intensity of storms that have recently impacted the state.
As the grid manager and operator, DEF can maximize the versatility of battery technology to include multiple customer and electric system benefits such as balancing energy demand, managing intermittent resources, increasing energy security and deferring traditional power grid upgrades.
These benefits help reduce costs for customers and increase operational efficiencies.
Currently the company plans to complete all three projects by the end of 2020.
"These battery projects provide electric system benefits that will help improve local reliability for our customers and provide significant energy services to the power grid," said Catherine Stempien, Duke Energy Florida state president. "Duke Energy Florida will continue to identify opportunities in battery storage technology which will deliver efficiency improvements to our customers."
Additional renewables projects
As part of DEF's commitment to renewables, the company is investing an estimated $1 billion to construct or acquire a total of 700 MW of cost-effective solar power facilities and 50 MW of battery storage through 2022.
Duke Energy is leading the industry deployment of battery technology. Last fall, the company and University of South Florida St. Petersburg unveiled a Tesla battery storage system that is connected to a 100-kilowatt (kW) solar array – the first of its kind in Florida.
This solar-battery microgrid system manages the energy captured by the solar array, situated on top of the university's parking garage. The solar array was constructed three years ago through a $1 million grant from Duke Energy. The microgrid provides a backup power source during a power outage for the parking garage elevator, lights and electric vehicle charging stations. Click here to learn more.
In addition to expanding its battery storage technology and solar investments, DEF is investing in transportation electrification to support the growing U.S. adoption of electric vehicles (EV), 530 EV charging stations and a modernized power grid to deliver the diverse and reliable energy solutions customers want and need.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/3/2019New rates take effect for Duke Energy Progress customers in South Carolina
Source: PR Newswire
GREENVILLE, S.C., June 3, 2019 /PRNewswire/ --
(NOTE: Duke Energy Carolinas in South Carolina, separate from Duke Energy Progress in South Carolina, also changed rates for its customers beginning June 1. Duke Energy Carolinas serves about 591,000 customers in the Upstate region of South Carolina, including Greenwood, Greenville, Spartanburg, Lancaster and York counties. The company has issued a separate news release about the Duke Energy Carolinas rate change.)
New rates became effective on June 1 for Duke Energy Progress customers in South Carolina based on the Public Service Commission of South Carolina (PSCSC) order issued May 21. The new rates remain below the national average, even after adjustments are made to reflect investments in cleaner, more reliable energy.
Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
The changes in customer rates come after a lengthy and very public process evaluating a request that is at the heart of the company's ability to build a smarter energy infrastructure for South Carolina. The new rates also reflect the company's efforts to deliver electricity that is cleaner than ever, and ensure the best customer service possible. The new rates will also reflect savings from recent tax reform.
Rate impacts
The PSCSC approved an average rate increase of 6.3 percent for all residential customers. Commercial and industrial customers will see an average increase of around 4.2 percent (actual rates vary by customer group and size).
Beginning June 1, a typical residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $130.55 per month, an increase of about $8.06.
The final rate order can be viewed on the PSCSC website: https://dms.psc.sc.gov/Attachments/Order/02fbebad-5201-4917-afe8-207314b21777
Fuel savings
In April, the company proposed a decrease in monthly fuel costs for its South Carolina customers as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants. If approved by the PSCSC, that change would reduce the typical residential customer's bill by $1.95, beginning July 1. Commercial customers would see an average decrease in their bills of about 2.1 percent, and industrial customers would receive an average decrease of about 4.4 percent.
A rate change was also made June 1 for Duke Energy Carolinas customers. Duke Energy Carolinas serves about 591,000 customers in the Upstate region of South Carolina, including Greenwood, Greenville, Spartanburg, Lancaster and York counties.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/3/2019New rates take effect for Duke Energy Carolinas customers in South Carolina
Source: PR Newswire
GREENVILLE, S.C., June 3, 2019 /PRNewswire/ --
(NOTE: Duke Energy Progress in South Carolina, separate from Duke Energy Carolinas in South Carolina, also changed rates for its customers beginning June 1. Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties. The company has issued a separate news release about the Duke Energy Progress rate change.)
New rates became effective on June 1 for Duke Energy Carolinas customers in South Carolina based on the Public Service Commission of South Carolina (PSCSC) order issued May 21. The new rates remain below the national average, even after adjustments are made to reflect investments in cleaner, more reliable energy.
Duke Energy Carolinas serves about 591,000 customers in the Upstate region of South Carolina, including Greenwood, Greenville, Spartanburg, Lancaster and York counties.
The changes in customer rates come after a lengthy and very public process evaluating a request that is at the heart of the company's ability to build a smarter energy infrastructure for South Carolina. The new rates also reflect the company's efforts to deliver electricity that is cleaner than ever, and ensure the best customer service possible. The new rates will also reflect savings from recent tax reform.
Rate impacts
The PSCSC approved an average rate increase of 3.7 percent for all residential customers. Commercial and industrial customers will see an average increase of around 1.6 percent (actual rates vary by customer group and size).
Beginning June 1, a typical residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly will pay about $122.45 per month, an increase of about $4.71.
The final rate order can be viewed on the PSCSC website: https://dms.psc.sc.gov/Attachments/Order/3f9e2cfb-3698-44b8-8b43-f409114edc6a
A rate change was also made June 1 for Duke Energy Progress customers. Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,200 megawatts of owned electric capacity to about 2.6 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/3/2019Duke Energy Renewables acquires Palmer Solar project in Colorado
Source: PR Newswire
CHARLOTTE, N.C., May 30, 2019 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy (NYSE: DUK), has acquired the development assets associated with the 60-megawatt (MW) Palmer Solar project in El Paso County, Colorado, from juwi Americas, a renewable energy company based in Boulder.
The project, which contains more than 200,000 solar panels, is being built on land south of Colorado Springs. With this addition, Duke Energy Renewables has two solar projects in Colorado totaling more than 70 MW.
"We're pleased to continue expanding our solar footprint in Colorado," said Rob Caldwell, president of Duke Energy Renewables. "The Palmer Solar project is another positive step toward Gov. Polis' dedication of moving the state's electric grid to 100% renewable sources by 2040."
The Palmer Solar project is being developed in partnership with Colorado Springs Utilities, whose customers will receive the energy the facility generates under a 20-year agreement. This is the largest solar project contracted by Colorado Springs Utilities to date and the first solar project to interconnect with Colorado Springs Utilities' transmission system.
"We are committed to offering our customers a clean, more diverse and affordable energy portfolio to power homes and businesses," said Aram Benyamin, Colorado Springs Utilities CEO. "The Palmer Solar project is one of the latest examples of how we are partnering with entities to change the way we power Colorado Springs, taking advantage of the economics and environmental benefits of solar power."
The Palmer Solar project will generate enough energy to power approximately 19,000 homes per year.
"We're thrilled to work with Duke Energy to bring additional clean generation to Colorado Springs," said Michael Martin, president of juwi Americas. "We're grateful that the Colorado Springs Utilities Board had the vision for this type of project and for the support received from Woodmoor Water & Sanitation and El Paso County's local officials. These efforts have elevated Colorado to the national stage of renewable energy development and investment."
The Palmer Solar project will create jobs and deliver property tax revenues to El Paso County. Property tax revenues to the county are estimated to be approximately $5.2 million throughout the life of the project. The project workforce will employ as many as 200 individuals during the peak construction period.
Duke Energy Renewables entered into an engineering, construction and procurement (EPC) agreement with juwi for the construction of the project. juwi, through its subsidiary JSI Construction Group, is overseeing the construction of the project, which began in the first quarter of 2019.
Duke Energy Renewables anticipates construction of the Palmer Solar project to be complete by the end of the year.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 MW of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
juwi Americas
juwi Inc., based in Boulder, Colo., is a developer, engineering, procurement and construction contractor and operator of large-scale renewable energy generation facilities. juwi and its North American affiliates have developed and built approximately 420 megawatts of operating solar projects in the United States. juwi is wholly owned by the leading German renewable energy company, juwi AG, which has developed and/or built over 3 gigawatts of renewable energy facilities worldwide.
Colorado Springs Utilities
For generations, Colorado Springs Utilities has provided electricity, natural gas, water and wastewater services to the Pikes Peak region. As a community-owned utility, its customers enjoy competitive prices, exceptional hometown service, sustainable solutions for a healthier environment and a voice in how their utility operates. Colorado Springs Utilities continues to expand its renewable energy portfolio. Over the next five years, the utility's solar generation will grow from 19 megawatts to more than 260 megawatts and include a 25-megawatt energy storage facility. For more information, visit csu.org or follow us on Twitter and Facebook.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/30/2019Duke Energy plans to decommission retired Florida nuclear plant by 2027 - nearly 50 years sooner than originally scheduled
Source: PR Newswire
CRYSTAL RIVER, Fla., May 30, 2019 /PRNewswire/ -- Today, Duke Energy announced a plan to decommission its previously retired Crystal River Nuclear Plant in Florida by 2027 – nearly 50 years sooner than originally scheduled.
The plan has no impact on customer bills.
Duke Energy's accelerated decommissioning plan is subject to approval by the U.S. Nuclear Regulatory Commission and the Florida Public Service Commission. The process will take about a year to complete. If approved, decommissioning work will begin in 2020 and end in 2027.
Duke Energy previously announced its decision to retire the plant on Feb. 5, 2013, and to decommission it by 2074.
Decommissioning a nuclear plant is highly regulated and involves removing, packaging and shipping radioactive materials, such as the reactor vessel, to a licensed facility and then demolishing buildings.
To perform the work, Duke Energy has contracted with Accelerated Decommissioning Partners, a joint venture between NorthStar Group Services and Orano USA.
"We remain committed to making smart, forward-thinking and thoughtful business decisions that protect and benefit our customers," said Catherine Stempien, Duke Energy's state president for Florida. "The fixed-price contract will lock in today's prices, providing us greater cost certainty."
The contract structure provides Duke Energy customers financial protection and transfers project execution risks to Accelerated Decommissioning Partners, including potential cost overruns and unknown conditions.
Accelerating the decommissioning also allows for faster restoration and redevelopment of the nuclear plant property for Duke Energy's reuse one day. The company has not yet determined how it might repurpose the property but has no plans to sell it.
Duke Energy is pursuing accelerated decommissioning for two reasons.
First, the trust fund that pays for the decommissioning, a Nuclear Regulatory Commission requirement, is currently sufficient to accelerate the plant's decommissioning without increasing customer bills.
Duke Energy's trust fund had about $717 million as of March 31, 2019.
Accelerating the nuclear plant's decommissioning also gives Duke Energy a potential opportunity to return the majority of unused trust fund dollars back to customers more than three decades sooner than the current 60-year decommissioning model.
Second, Duke Energy has cost-effectively completed the initial phase of decommissioning, placing the plant in an ideal condition to attract bidders to complete the work.
This progress, coupled with increased competition in the industry, has lowered decommissioning costs, making the accelerated model financially feasible.
Contract terms
If regulators approve the transaction, Duke Energy will remain the Nuclear Regulatory Commission-licensed owner of the nuclear plant, property and equipment and retain ownership and control of the trust fund that pays for the decommissioning.
In turn, Accelerated Decommissioning Partners will become the Nuclear Regulatory Commission-licensed operator responsible for decommissioning the plant in compliance with all state and federal regulations.
Accelerated Decommissioning Partners will also own the dry cask storage system assets, including the used nuclear fuel assemblies, and operate and maintain the on-site dry cask storage facility.
A dry cask storage facility is self-contained and stores used nuclear fuel assemblies in steel canisters housed in large concrete structures without power supplies, cooling water, pumps or motors. The system is safe and licensed by the Nuclear Regulatory Commission.
"Selling the dry cask storage assets allows Duke Energy to transfer all aspects of used fuel management, including operating and maintenance costs, to us," said Scott State, CEO of Accelerated Decommissioning Partners. "Owning the dry cask storage system assets closely aligns with our industry expertise and business strategy."
Crystal River Energy Complex
The nuclear plant is located at Duke Energy's 5,100-acre Crystal River Energy Complex on Florida's Gulf Coast about 85 miles north of Tampa.
The complex is home to the new Citrus Combined Cycle Station, two operating coal-fired units and two retired coal-fired units.
In a separate agreement, Duke Energy hired NorthStar Group Services, joint owner of Accelerated Decommissioning Partners, to dismantle the coal-fired units, which formally retired Dec. 31, 2018.
Dismantling the coal-fired units is expected to start in 2019 and finish in 2023.
As a result of both projects, the local community will not notice any difference in operations at the Crystal River Energy Complex, other than occasional traffic increases on U.S. Highway 19 near Power Line Street.
Accelerating the nuclear plant's decommissioning and dismantling the coal-fired units could create about 80 to 100 temporary jobs.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Accelerated Decommissioning Partners
Accelerated Decommissioning Partners is a joint venture formed in 2017 between NorthStar Group Services and Orano USA (formerly AREVA Inc.) that has decommissioned more than 10 Nuclear Regulatory Commission-licensed nuclear reactor and laboratory sites in the U.S.
NorthStar Group Services is the largest demolition company in the world and recently received approval from the Nuclear Regulatory Commission to purchase the Vermont Yankee Nuclear Power Station and decommission it.
Orano USA supplies many of the dry cask storage systems in operation at U.S. nuclear reactor sites and is a subsidiary of global Orano, a worldwide leader in radioactive materials management, transport and storage. Orano designed and manufactured the Crystal River Nuclear Plant's on-site NUHOMS dry cask storage system and successfully transferred used nuclear fuel assemblies from the plant's fuel storage pool to the on-site dry cask storage facility.
Contact: Heather Danenhower
Office: 352.501.3700 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/30/2019Duke Energy urges storm preparedness for 2019 hurricane season
Source: PR Newswire
ST. PETERSBURG, Fla., May 29, 2019 /PRNewswire/ -- Hurricane season begins June 1, but Duke Energy prepares for massive storms year-round and urges customers to be prepared, too.
"Early preparation is a key element of keeping you and your family safe during and after a hurricane," said Catherine Stempien, Duke Energy Florida state president. "Skip the long lines, refine your emergency plans, and give yourself plenty of time to do important repairs to fortify your home. We prepare for storms throughout the year and encourage you to do the same to be able to react quickly when a storm threatens your neighborhood."
Since 2004, the company has invested more than $2 billion in maintaining and strengthening its power delivery systems in Florida. An additional $3.4 billion of investments planned for over the next 10 years will go even further to modernize the grid, making it more resistant to power outages and more secure against threats and disruptions. For customers, that means when a storm hits, the threat of costly and disruptive outages is minimized or even avoided.
To discuss its storm preparedness and information on how customers can prepare for severe weather, the company will provide media opportunities on May 31:
Grid Modernization
In addition to trimming trees and inspecting and replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduce the length and number of outages.
Duke Energy is building a smart-thinking grid that will increase reliability for all customers by anticipating outages and intelligently rerouting power to speed restoration or avoid outages altogether. Currently, 34% of customers in Florida receive smart-thinking grid technology and the goal is to be at 80% in 10 years. The technology helped avoid more than 200,000 customer interruptions in 2018.
The company is also using data to strategically identify the most outage-prone power lines and move them underground. This can significantly reduce power outages and momentary service interruptions, and it can reduce costs and quicken restoration time after a major event for all customers.
As this year's hurricane season approaches, Duke Energy's meteorologist predicts slightly above-average storm activity. Experts are warning residents to pay more attention to predictions about storm surge and flooding than about wind strength. Read more in the illumination story.
The following tips can help you and your family stay safe if severe weather strikes and the power goes out:
Safety around power lines
Generator safety
Flooding and electrical safety
Outage reporting
Customers can report power outages in three easy ways:
For more information on how to prepare for storm season, and how Duke Energy can help, please visit duke-energy.com/StormTips. For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
5/29/20195/28/2019 - Duke Energy donates $5,000 to support Cincinnati-Dayton Regional Red Cross following Memorial Day tornadoes
Duke Energy donates $5,000 to support Cincinnati-Dayton Regional Red Cross following Memorial Day tornadoes
Source: PR Newswire
CINCINNATI, May 28, 2019 /PRNewswire/ -- The Duke Energy Foundation will donate $5,000 to the Greater Cincinnati-Dayton Region of the American Red Cross to assist victims of Monday night's tornadoes.
The donation will help Dayton communities and residents as they recover from the deadly storms that hit the Montgomery and Greene Counties late Monday. Cleanup and restoration is expected to take months, but local officials say that money is the most effective gift in the immediate term.
"We believe in giving back to neighboring communities during times of great need," said Amy Spiller, president, Duke Energy Ohio and Kentucky. "We are pleased to partner with the Red Cross to ensure that the aid reaches the areas most devastated by Monday's tornadoes."
As of this afternoon, Duke Energy crews and its contractors remain ready to assist in any needed storm restoration efforts in the region.
Duke Energy Foundation and Duke Energy Ohio/Kentucky
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy (NYSE: DUK), provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Contact: Sally Thelen
Office: 513.287.2432
24-Hour: 800.559.3853
Twitter: @DE_SallyT
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SOURCE Duke Energy
Article Date
5/28/20195/24/2019 - Piedmont Natural Gas completes its largest debt issuance aided by disabled-veteran-owned banks
Piedmont Natural Gas completes its largest debt issuance aided by disabled-veteran-owned banks
Source: PR Newswire
CHARLOTTE, N.C., May 24, 2019 /PRNewswire/ -- Piedmont Natural Gas, a subsidiary of Duke Energy (NYSE: DUK), has successfully closed a $600 million debt offering – its largest debt issuance in the history of the company and its first since it merged with Duke Energy.
This transaction, which involved three disabled-veteran-owned banks as co-underwriters to sell the notes, aligns with Duke Energy's practice of routinely involving diversity-owned financial institutions in its capital raising efforts. Over the past three years, the company has worked with firms representing various backgrounds, including women-owned, African American-owned, disabled-veteran-owned and Hispanic-owned banks.
"Our focus on diversity and inclusion is unwavering – from our employees and leadership team to our suppliers, brokerage firms and investors," said Steve Young, Duke Energy's chief financial officer. "These partnerships enable us to broaden our investor base and honor veterans while also accessing low-cost capital to invest in important infrastructure for our customers."
"We are proud to be a part of this historic transaction for Piedmont Natural Gas," stated Ron Quigley, managing director at Mischler Financial, one of the disabled-veteran-owned banks participating in the transaction. "Not only does this represent another successful collaborative effort within the business community, it also carries more meaning to our firm given the timing of Memorial Day and our commitment to donate a portion of the proceeds from this transaction to causes that are important to our veteran employees."
Piedmont priced the bonds on May 21 and closed the transaction on May 24. Net proceeds will be used to retire a bank loan, repay other borrowings and other general corporate purposes.
"Everyone benefits when we bring diverse thoughts, perspectives and talents to the table," said Young. "Together, we have an opportunity to foster more innovation, enhance outreach to customers and investors and increase the business community's commitment to collaborating with a wide variety of firms."
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/24/2019Duke Energy appoints new chief information officer
Source: PR Newswire
CHARLOTTE, N.C., May 23, 2019 /PRNewswire/ -- Duke Energy today announced Bonnie Titone will join the company as chief information officer, effective June 19.
Titone was most recently vice president of information business technology at Pacific Gas and Electric (PG&E). She will oversee Duke Energy's information technology operations and infrastructure, telecommunications, and project delivery and support for various business areas. She will also contribute to the company's ongoing digital transformation efforts.
"Bonnie's deep knowledge and leadership in the energy industry will enhance our focus on maintaining reliable technology systems, delivering a positive customer experience and advancing our long-term strategy as we modernize the energy grid's capabilities," said Brian Savoy, Duke Energy's senior vice president of business transformation and technology. "Technology is enabling businesses to operate in new ways – and Bonnie will help ensure Duke Energy is implementing technologies that position us to continue providing customers with the service they expect."
Prior to her work at PG&E, Titone served in leadership roles at Volkswagen and Toyota, where she focused on software and project delivery, as well as strategic direction and alignment across multiple brands and countries.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/23/20195/21/2019 - North Carolina regulators approve Duke Energy's innovative microgrid project in Madison County
North Carolina regulators approve Duke Energy's innovative microgrid project in Madison County
Source: PR Newswire
CHARLOTTE, N.C., May 21, 2019 /PRNewswire/ -- Madison County will soon be home to an innovative microgrid installation after the North Carolina Utilities Commission (NCUC) approved Duke Energy's renewable energy project.
In the town of Hot Springs, the company will proceed with a solar and battery-powered microgrid system that will help improve electric reliability, provide services to the overall electric system and serve as a backup power supply to the town of more than 500 residents.
"Duke Energy's research work on microgrids has led to a large-scale effort that will better serve, not only these customers in a remote area, but also help us gain experience from this pilot project to better serve all customers with additional distributed energy and energy storage technologies," said Dr. Zak Kuznar, Duke Energy's managing director of Microgrid and Energy Storage Development. "Projects like this will lead to a smarter energy future for the Carolinas."
The Hot Springs microgrid will consist of a 2-megawatt (AC) solar facility and a 4-megawatt lithium-based battery storage facility. The microgrid will not only provide a safe, cost-effective and reliable grid solution for serving the Hot Springs area, but the microgrid will also provide energy and additional bulk system benefits for all customers. This will include reliability services to the electric grid, such as frequency and voltage regulation and ramping support and capacity during system peaks.
The project is part of Duke Energy's plan to meet power demand by balancing public input, environmental impacts and the need to provide customers with safe, reliable and affordable energy.
Another component of that plan is in the city of Asheville where Duke Energy will connect a 9-megawatt lithium-ion battery system at a Duke Energy substation site in the Rock Hill community – near Sweeten Creek Road. The battery will primarily be used to help the electric system operate more efficiently and reliably for customers.
Together, the two projects will cost around $30 million and should be operational in early 2020.
Also in the region, Duke Energy is closing a half-century-old, coal-fired plant in Arden by January 2020 – and replacing it with a new 560-megawatt cleaner-burning combined-cycle natural gas plant.
Duke Energy microgrids
Duke Energy is a leader in microgrid technology. The company has a smaller microgrid project in North Carolina already operating. In Haywood County, N.C., Duke Energy has a 95-kilowatt-hour zinc-air battery and 10-kilowatt solar installation serving a communications tower on Mount Sterling in the Smoky Mountains National Park that has been operating since 2017. It is also currently working on proposed projects in South Carolina.
Previously, the company operated a microgrid that served a local fire station in Charlotte. It continues to operate a microgrid at its Mount Holly research center in Gaston County.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
5/21/2019Duke Energy cautions customers in Indiana to guard against utility scammers
Source: PR Newswire
PLAINFIELD, Ind., May 20, 2019 /PRNewswire/ -- Duke Energy is warning its customers in Indiana to be on guard against phone calls from utility scammers who are demanding that customers pay their electric bill immediately or risk having their electric service disconnected within the hour.
Local law enforcement officials say the number of scam calls reported by citizens has increased in the past few days.
"These scammers are thieves who prey on unsuspecting customers with the sole purpose of stealing their money," said Marvin Blade, Indiana vice president of community relations for Duke Energy. "The scammers typically target elderly residents or small family-owned businesses, including restaurants, repair shops or other retail businesses."
The best way to defend yourself against these scammers is to recognize how the scam works and understand that Duke Energy never asks customers for prepaid debit cards.
Typically, the customer receives an unsolicited phone call from an individual who falsely claims to be a Duke Energy representative demanding immediate payment, usually in the form of a prepaid debit card. Scammers have even duplicated the Duke Energy upfront Interactive Voice Response system, so when customers call back phone numbers provided by the scammer, it sounds like a legitimate Duke Energy phone number. Some of these criminals also use caller-ID spoofing to replicate Duke Energy's customer service number.
Red flags for scam activity
How to protect yourself
Customers can get more scam and fraud prevention information at our "Report Fraud and Scams" web page.
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/20/2019Duke Energy invests in pre-K education with $1 million grant
Source: PR Newswire
CHARLOTTE, N.C., May 14, 2019 /PRNewswire/ -- Duke Energy announced today it is investing $1 million over five years to support expansion of pre-kindergarten education for children in Mecklenburg County, N.C.
"Providing all children access to quality pre-K education is one of the most significant determinants of our region's future success," said Lynn Good, chairman, president and CEO of Duke Energy. "The time is now to invest in preparing our state's future workers and business leaders, and the teachers who foster their learning."
The Duke Energy Foundation grant will support the Mecklenburg Board of County Commissioners' MECK Pre-K initiative to ensure all children under age 5 in Mecklenburg County have access to high-quality early childhood education.
The initiative was developed in response to the Charlotte-Mecklenburg Opportunity Task Force report, which cited access to early care and education as a key determinant of upward mobility.
"Duke Energy has been a leader in this effort from the start," said Mecklenburg County Manager Dena R. Diorio. "This grant continues their strong commitment to MECK Pre-K and helps attract quality teachers who can jumpstart a child's education and improve their chances of success."
In 2016, the Charlotte Executive Leadership Council (CELC), a collection of local business leaders chaired by Duke Energy CEO Lynn Good at the time, funded a two-part study to find ways to give significantly more children access to early childhood education. The study informed the county's five-point plan, released in September 2017 and reaffirmed in February 2019, which laid out the road map for pre-K expansion, including strategies to recruit and foster talented pre-K teachers, and called for public-private partnership to fund the effort.
"When our public and private sectors join forces, we have the power to move the needle on our region's most pressing issues," said Michael Marsicano, president and CEO of Foundation For The Carolinas. "We appreciate Duke Energy's leadership and extraordinary generosity with this major commitment to our community's children and, in turn, to our community's future."
Efforts at the county level complement recent efforts by the state of North Carolina, which has set a goal of enrolling 75 percent of all eligible four year-olds in the NC Pre-K program. The North Carolina General Assembly's and the Governor's budget proposals both include provisions to enroll additional children in the NC Pre-K program over the next two years.
The Duke Energy Foundation has invested more than $25 million in the Charlotte community since 2014, including $3 million specifically earmarked for addressing the determinants and factors outlined in the Opportunity Task Force report. Most recently, the Foundation awarded $1.3 million in grants to 46 education programs across North Carolina that focus on closing the achievement gap that often separates low-income students from their peers through preventing summer reading loss and providing out-of-school programs.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy's customers live and work. The Foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/14/2019Duke Energy reports first quarter 2019 financial results
Source: PR Newswire
CHARLOTTE, N.C., May 9, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its first-quarter 2019 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 1767856. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 19, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 1767856. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
5/9/2019Piedmont Natural Gas selects contractor to build new liquefied natural gas facility in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., May 3, 2019 /PRNewswire/ -- Piedmont Natural Gas announced today it has selected Matrix Service Inc., a subsidiary of Matrix Service Company, to build its liquefied natural gas (LNG) facility in Robeson County, North Carolina.
The facility will help Piedmont Natural Gas continue providing customers with a reliable supply of natural gas during peak usage days, when extremely low temperatures create a higher-than-normal demand for natural gas.
The 1 billion-cubic-foot (Bcf) storage facility will cover approximately 60 acres of a 685-acre piece of Piedmont-owned property. Construction is expected to begin in May of 2019 with an estimated completion date in the summer of 2021.
"Our highest priority is the safety of our natural gas infrastructure, our communities and our employees," said Frank Yoho, president of natural gas operations at Duke Energy, parent company of Piedmont Natural Gas. "The contractor we selected had to share our emphasis on safety, offer proven excellence in this specialized construction, and commit to minimize disruption to our neighbors in Robeson County."
"As an industry leader in low-temperature and cryogenic tanks and terminals, we are very pleased to have been awarded this important project," said Matrix Service Company's President and Chief Executive Officer, John R. Hewitt. "We look forward to delivering this project safely, on time and on budget."
The LNG facility is expected to create up to 150 jobs during construction and 10 to 12 permanent jobs to manage operations. The project will provide more than $800,000 annually in tax revenue to Robeson County.
For more information about the facility, see the original announcement and project overview.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Matrix Service Company
Founded in 1984, Matrix Service Company (Nasdaq: MTRX) is parent to a family of companies that include Matrix Service Inc., Matrix NAC, Matrix PDM Engineering and Matrix Applied Technologies. Our subsidiaries design, build and maintain infrastructure critical to North America's energy and industrial markets. Matrix Service Company is headquartered in Tulsa, Oklahoma with subsidiary offices located throughout the United States and Canada, as well as Sydney, Australia and Seoul, South Korea.
With a culture driven by its core values of safety, integrity, stewardship, positive relationships, community involvement and delivering the best, Matrix has twice been named to Forbes Top 100 Most Trustworthy Companies in America and is consistently recognized as a Great Place to Work®.
For more information about Matrix, please contact:
Matrix Service Company
Kevin S. Cavanah
Vice President and CFO
T: 918-838-8822
Email: ir@matrixservicecompany.com
Kellie Smythe
Senior Director, Investor Relations
T: 918-359-8267
Email: ksmythe@matrixservicecompany.com
Media contact: Tammie McGee
Office: 704.731.4236 I 24-hour: 877.348.3612
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SOURCE Duke Energy
Article Date
5/3/2019Duke Energy declares quarterly dividend payments to shareholders
Source: PR Newswire
CHARLOTTE, N.C., May 2, 2019 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.9275 per share payable on June 17, 2019, to shareholders of record at the close of business May 17, 2019.
The company also declared a pro-rated initial cash dividend on its Series A preferred stock of $307.47 per share payable on June 17, 2019, to shareholders of record at the close of business May 17, 2019. This is equivalent to $0.30747 per depositary share.
Duke Energy has paid a cash dividend for 93 consecutive years.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
5/2/20195/2/2019 - Delivering value to customers is key to Duke Energy's success, CEO Good tells shareholders
Delivering value to customers is key to Duke Energy's success, CEO Good tells shareholders
Source: PR Newswire
CHARLOTTE, N.C., May 2, 2019 /PRNewswire/ -- Delivering value to customers is key to Duke Energy's success, Chairman, President and CEO Lynn Good told investors during the company's annual shareholders meeting today.
Duke Energy's 2018 performance "gives us confidence as we grow the company and execute our long-term strategy, which is our road map to bring value to our shareholders and our customers," Good said. "That strategy starts with the customer – because for us to win, we must put them at the center of everything we do."
For example, Duke Energy in 2018 responded to federal tax reform, ensuring the law's benefits flowed to the company's customers while also maintaining the company's balance sheet and credit quality, she said.
Duke Energy also "focused on turning data into results, helping provide more value to customers," Good said. "Already, we've used data to improve how customers pay their bills, report outages and start service. In addition, we've recently launched several mobile apps, giving customers more control and access to information right on their smartphone."
In addition, "more than 62 percent of our customers have smart meters, giving them access to enhanced usage information and alerts. We remain on track to have smart meters fully deployed in all our jurisdictions by year-end 2021," she said.
Modern electric grid
Duke Energy in 2018 also continued to build "a more modern, intelligent" electric grid "that is more resilient, secure and reliable," Good said.
"Across our footprint, self-healing technologies prevented more than 700,000 extended power outages in 2018. And our technology prevented 80,000 extended outages during Hurricane Florence, and gave us better information to expedite restoration following this storm," she said.
Duke Energy restored 3 million power outages, handled over 3 million phone calls and sent over 27 million emails and text messages to customers in the aftermath of hurricanes Florence and Michael, Good said. "I cannot thank our employees enough for their incredible work to support our customers."
Cleaner energy
Duke Energy in 2018 also continued its ongoing transition to renewable energy and natural gas, and away from coal, to generate electricity – while also efficiently operating its zero-carbon fleet of nuclear power plants, Good said.
Combined, these efforts kept the company on track to reduce its carbon emissions 40 percent by 2030, from 2005 levels.
"We brought two combined-cycle, natural gas-fired plants online, and will bring a third online by the end of 2019. We also remained one of the nation's largest renewable energy providers. By year-end, we owned or purchased a total of 7,100 megawatts of wind, solar and biomass energy – enough to power 2 million homes," she said.
"We have connected more than 2,500 megawatts of solar in the Carolinas over the past four years, helping keep North Carolina second in the nation for overall solar power capacity. And in Florida, we are adding 700 megawatts of solar in the state," Good said.
The company in 2018 also expanded its commercial renewables footprint to 14 states, and is pursuing new opportunities in this growing segment, she said. "In addition, we outlined plans for $500 million in battery storage projects in the Carolinas over the next 15 years."
But even as Duke Energy invests in new energy sources, the company's existing zero-carbon nuclear power plant fleet "remains fundamental to our success," Good said. "That's why we continue evaluating subsequent license renewals for our nuclear fleet for an additional 20 years of operation."
The company in 2018 also continued its commitment to environmental stewardship in the management of coal ash at its operating and retired coal-fired power plants, she said. "I'm very proud of our progress as we permanently close every ash basin to protect people and the environment, while keeping costs affordable."
Natural gas infrastructure
In addition in 2018, Duke Energy continued to expand its natural gas infrastructure.
"We retrofitted two coal units to run on natural gas. We also announced plans to build a liquefied natural gas facility, helping Piedmont Natural Gas meet demand during peak usage days," Good said.
"Importantly, we worked diligently to complete the Atlantic Coast Pipeline. Unfortunately, legal and permitting challenges have stopped major construction activity. But let there be no doubt that we remain committed to this project. It will bring much-needed natural gas supplies to the Southeast, as well as economic growth in rural areas of this region," she said.
Economic growth, community support
Economic development, job creation and community support also remained top priorities for Duke Energy in 2018, Good said.
Duke Energy's economic development specialists helped attract $5.3 billion in capital investment and 14,000 new jobs to communities served by the company.
Meanwhile, the Duke Energy Foundation donated more than $31 million to schools, colleges and a variety of nonprofit organizations, and company employees and retirees volunteered over 126,000 hours of their time.
Other shareholder business
Also at today's meeting:
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/2/2019Duke Energy: Cleaner energy mix can be affordable, too
Source: PR Newswire
CHARLOTTE, N.C., April 29, 2019 /PRNewswire/ -- Duke Energy continues to generate cleaner energy at prices below the national average for its 7.7 million residential, commercial and industrial customers.
Those facts were spelled out today in the company's 13th annual Sustainability Report – a report card on the company's progress at meeting its sustainability goals. The report can be found here – and a PDF copy for download can be found here.
"Duke Energy is successfully reducing our environmental impact while keeping electric prices low for customers," said Cari Boyce, senior vice president, stakeholder strategy and sustainability. "It's not a question of clean or affordable. We're safely and reliably achieving both."
Among the highlights in this year's report:
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
4/29/2019Duke Energy appeals North Carolina coal ash excavation order to protect customers from excessive cost and disruption
Source: PR Newswire
CHARLOTTE, N.C., April 26, 2019 /PRNewswire/ -- Duke Energy today appealed a recent order by the North Carolina Department of Environmental Quality (NCDEQ) requiring extremely expensive and disruptive excavation of nine coal ash basins at the company's Allen, Belews Creek, Cliffside/Rogers, Marshall, Mayo and Roxboro facilities.
Scientists and engineers have determined that capping the basins in place is a safe method for managing ash in a manner that protects the environment and public health. Approved by the U.S. Environmental Protection Agency under the Obama administration, capping and monitoring is a far less expensive option that can achieve safe closure much faster than excavation, significantly reducing the impact on customers and communities. NCDEQ has ranked the nine basins as "low risk" to the environment and public health.
"We share the same goals of permanently and safely closing all ash basins, and we've made great progress to date," said Stephen De May, North Carolina president, Duke Energy. "We are already excavating our basins where it makes sense to do so and will close the remaining basins in a manner that protects health, safety and financial impact on customers. In the meantime, we are compelled to appeal this order, which is not supported by the scientific evidence, has significant procedural errors and would impose tremendous costs on customers without any measurable benefit."
The company filed petitions related to each site with the North Carolina Office of Administrative Hearings (OAH) detailing a number of significant concerns, including:
"We do not want our customers and communities burdened with billions in additional costs and decades of disruption when the science shows no equivalent environmental or public health benefit to excavating these sites," said De May. "There are common-sense, case-by-case closure options available that will continue our significant progress in safely closing all our ash basins."
Managing cost to customers
Based on current estimates and the company's understanding of the state's order, excavating these basins could add approximately $4 billion to $5 billion to the prior estimate of $5.6 billion for the Carolinas and would take decades, stretching well beyond state and federal deadlines. The extra expense to excavate basins could be used on other energy projects to benefit North Carolina, including investments in clean and renewable energy.
Ahead of NCDEQ's April 1 order and in advance of state and federal requirements, Duke Energy implemented technology upgrades that allowed the company to stop sending ash to basins at the six sites under review by NCDEQ. In North Carolina, Duke Energy is excavating 22 basins and recommends capping nine others, having already excavated more than 20 million tons of ash in the state.
Duke Energy is a national leader in safe basin closure and last year recycled 79% of the ash produced at its operating facilities. Learn more about the company's strong progress safely closing coal ash basins and watch this video to see what an ash basin and the closure process look like; additional video resources regarding Duke Energy's basin closure and ash management can be found here.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/26/20194/26/2019 - Fuel savings will decrease bills for Duke Energy Progress customers in South Carolina beginning this summer
Fuel savings will decrease bills for Duke Energy Progress customers in South Carolina beginning this summer
Source: PR Newswire
GREENVILLE, S.C., April 26, 2019 /PRNewswire/ -- Duke Energy Progress is proposing a decrease in monthly fuel costs for its South Carolina customers beginning this summer as part of an annual adjustment of the actual cost of fuel used to generate electricity at its power plants.
Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
Duke Energy Progress makes a fuel cost recovery filing annually with the PSCSC. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. By law, the company makes no profit from the fuel component of rates.
The company made its annual fuel filing Friday, April 26. If approved by the PSCSC, the new fuel rates would go into effect July 1.
Under the proposal, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see their bills decrease from the current $122.49 to $120.54, a decrease of $1.95, or 1.6 percent.
Commercial customers would see an average decrease in their bills of about 2.1 percent, and industrial customers would receive an average decrease of about 4.4 percent.
The primary reason for the proposed overall decrease in rates is a lower under-collection of fuel costs included in the 2019 proposed rates than the under-collection of fuel costs reflected in existing rates.
Duke Energy Progress works to actively manage its fuel contracts to keep fuel costs as low as possible for customers. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs. The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly.
The proposed decrease would affect the bills of all Duke Energy Progress customers in South Carolina. The company's other South Carolina utility -- Duke Energy Carolinas -- will make its annual fuel filing in July.
To help customers take control of their energy use and manage their bills, Duke Energy Progress offers energy-saving tips and innovative efficiency programs for every budget to help customers realize additional savings.
For example, the Home Energy House Call is a free in-home energy assessment, valued at $180, designed to give Duke Energy customers more information about how they use energy in their home and strategies to save money on their monthly bill.
To learn more about these programs, visit www.duke-energy.com/savings.
A separate request to increase base rates proposed in November is currently being considered by the Public Service Commission of South Carolina (PSCSC). The PSCSC will determine the appropriate price customers pay in base rates in the coming weeks after what has been a thorough and very transparent public review process.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,700 megawatts of owned electric capacity to approximately 1.6 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/26/20194/26/2019 - Arbor Day Foundation recognizes Duke Energy Florida as Tree Line USA utility for 13th consecutive year
Arbor Day Foundation recognizes Duke Energy Florida as Tree Line USA utility for 13th consecutive year
Source: PR Newswire
ST. PETERSBURG, Fla., April 26, 2019 /PRNewswire/ -- For the 13th consecutive year, the Arbor Day Foundation has recognized Duke Energy Florida as a Tree Line USA utility, highlighting its efforts in tree care.
The Tree Line USA Program demonstrates how trees and utilities can co-exist for the benefit of communities and citizens by highlighting best management practices in public and private utility arboriculture.
Trees and vegetation are part of Florida's natural landscape, but they are also one of the leading causes of power outages for utilities. In order to keep electricity reliable, Duke Energy has a responsibility to protect the lines that deliver power to homes and businesses across the region.
"Receiving this award for the 13th straight year is a testament to the work our employees do to protect the environment and serve our customers," said Catherine Stempien, Duke Energy Florida president. "Trees are beautiful additions to yards, providing benefits of shade and helping conserve energy, which is why we work to educate customers about planting the right tree in the right place so we can continue to provide safe and reliable energy."
Tree Line USA evaluates applicants based on several criteria including adherence to industry best practices for tree care, training of employees and contractors, implementation of public education and tree planting projects, and participation in annual Arbor Day events.
For the last two years, Duke Energy Florida, in partnership with the Arbor Day Foundation's Energy-Saving Trees program, provided nearly 6,000 trees in 1-gallon pots to customers – for free – in honor of Florida Arbor Day in January.
Important points to remember when planting or caring for trees:
For information about planning and planting vegetation around electrical facilities, please visit: https://www.duke-energy.com/community/trees-and-rights-of-way/how-we-manage-trees/plan-before-you-plant.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/26/2019Duke Energy Foundation's 'Powerful Communities' program awards over $440,000 for K-12 education grants in Indiana
Source: PR Newswire
PLAINFIELD, Ind., April 25, 2019 /PRNewswire/ -- Any teacher can tell you about the warm glow of satisfaction when a student, after much struggle, finally "gets it." It's an almost magical moment that is not soon forgotten.
The Duke Energy Foundation is enabling more and more of those magical moments in 2019 through $448,250 in grants to more than 30 schools and other educational organizations throughout the company's Indiana service territory.
"Teachers are some of the most dedicated professionals I know, but they need resources to help students learn effectively," said Stan Pinegar, Duke Energy state president for Indiana. "We are proud to award these grants to help keep vital resources flowing into K-12 classrooms and programs."
According to the Indiana Literacy Association, "Approximately 25 percent of Indiana fourth grade students have not mastered minimal reading skills. Fourth grade reading levels are a critical turning point because fourth grade students are no longer learning to read, they must read to learn."
The schools and programs receiving grants this year include many summer reading initiatives, but they also feature a wide variety of science, technology, engineering and math, or STEM, programs aimed at all age groups. One example is the Indiana 4-H Foundation which will use its grant to help local 4-H clubs give members opportunities in engineering design, computer programming and other STEM-related skills.
Indiana organizations receiving the 2019 K-12 education grants include:
$15,000 | |
$10,000 | |
$10,000 | |
$25,100 | |
$13,500 | |
$15,000 | |
$25,000 | |
$35,000 | |
$10,000 | |
$15,000 | |
$10,000 | |
$ 3,650 | |
$20,000 | |
$20,000 | |
$80,000 | |
$15,000 | |
$12,500 | |
$10,000 | |
$10,000 | |
$10,000 | |
$15,000 | |
$15,000 | |
$10,000 | |
$ 3,500 | |
$10,000 | |
$ 5,000 | |
$10,000 | |
$10,000 | |
$ 5,000 |
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit. Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/25/2019Duke Energy enters into definitive agreement to sell minority interest in its commercial renewable energy portfolio to John Hancock
Source: PR Newswire
CHARLOTTE, N.C., April 24, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced that it has entered into a definitive agreement to sell a minority interest in a portion of its commercial renewable energy portfolio owned and operated by its affiliate, Duke Energy Renewables, to the John Hancock Infrastructure Fund ("JHIF") and John Hancock Life Insurance Company (U.S.A) (collectively, "John Hancock"), a division of Manulife Financial Corporation.
The total enterprise value of this portion of Duke Energy's commercial renewable energy portfolio is approximately $1.25 billion (including proportional existing project-level debt). The sale will result in pre-tax proceeds to Duke Energy of $415 million. As majority owner, Duke Energy remains committed to growing its commercial renewable energy business. The transaction will help fund the company's future growth capital plans with proceeds used to reduce future debt issuance needs. Duke Energy will retain the majority of the remaining tax benefits from the projects.
The portion of Duke Energy's commercial renewables energy portfolio to be sold includes 49% of 37 operating wind, solar and battery storage assets and 33% of 11 operating solar assets across the U.S. Once the sale has closed, John Hancock's interest will represent approximately 1.2 gigawatts of generating capacity.
John Hancock will also have the right to acquire a minority interest in certain additional wind and solar projects in the future, providing a potential source of future growth capital to Duke Energy.
"We look forward to working alongside John Hancock as we continue providing clean and affordable energy to our customers across the country," said Rob Caldwell, president of Duke Energy Renewables. "We will continue to develop projects, grow our portfolio and maintain overall operational responsibilities for the projects just as we do today. John Hancock's investment offers clear validation of the strength of our existing portfolio, and this partnership provides an opportunity for ongoing collaboration and investment as we deliver long-term value to our customers and investors."
The sale is subject to customary closing conditions, including approvals from the Federal Energy Regulatory Commission (FERC), the Public Utility Commission of Texas (PUCT) and the Committee on Foreign Investment in the United States (CFIUS).
The transaction is expected to close in the second half of 2019.
JHIF, an infrastructure-focused private equity fund with approximately $2 billion of committed capital, is managed by John Hancock's Infrastructure team, and is part of Manulife Private Markets.
"We are excited to partner with a leading, strategic owner and operator such as Duke Energy in a high-quality renewable energy portfolio," said Recep Kendircioglu, Portfolio Manager of JHIF and Head of John Hancock's Infrastructure Investments. "This partnership exemplifies a key component of our investment strategy and represents an attractive opportunity to deploy capital in the renewable energy sector."
Morgan Stanley served as exclusive financial advisor and Hunton Andrews Kurth LLP served as legal advisor to Duke Energy. John Hancock was advised by Mayer Brown LLP and Day Pitney LLP.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
John Hancock and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were more than CAD$1.1 trillion (US$794 billion) as of December 31, 2018. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. Additional information about John Hancock may be found at johnhancock.com.
Manulife and John Hancock offer comprehensive wealth and asset management solutions for institutional and retail investors globally across a broad range of public and private asset classes, as well as asset allocation solutions. Manulife's Private Markets platform offers long term solutions for its clients by leveraging our expertise across private equity and private credit, real estate equity and debt, infrastructure equity, timberland and farmland.
Cautionary Language Concerning Forward-Looking Statements
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These risks and uncertainties are identified and discussed in Duke Energy's Form 10-K for the year ended December 31, 2018, and subsequent quarterly reports filed with the Securities and Exchange Commission ("SEC") and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Analysts Contact: Mike Callahan
Office: 704.382.0459
Media Contact: Neil Nissan
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/24/2019Duke Energy reaches $10 million commitment to support waterways in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., April 24, 2019 /PRNewswire/ -- Twelve organizations spanning 43 counties in North Carolina and South Carolina will receive $940,000 in new grants from Duke Energy's Water Resources Fund to support environmental and wildlife programs.
With this final round of Water Resources Fund grants, Duke Energy has reached its commitment to invest $10 million to help local organizations protect and improve the environment.
Since the fund's inception in 2014, Duke Energy has supported 125 projects to protect natural resources in 12 river basins across North Carolina, South Carolina, Tennessee and Virginia, including more than $1.5 million in the Dan River Basin.
"The projects we've supported over the last five years will have a lasting impact on our region's waterways," said Stephen De May, Duke Energy's North Carolina president. "While the Water Resources Fund has achieved its financial goal, our commitment to be good stewards of our natural resources in ongoing."
"In a region blessed with an abundance of public and conserved natural lands, DuPont State Recreational Forest is already one of our greatest conservation gems," said Conserving Carolina executive director Kieran Roe. "The incorporation of this tract will enhance it further by protecting water quality, preserving an important wildlife corridor, and creating future opportunities for public recreation."
"Today is about celebrating our partners," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "This was a true collaborative effort with dozens of organizations and environmental experts to protect our waterways for future generations."
"The Belton Landing project will serve to enhance access to and awareness of one of South Carolina's most important natural resources," said city of Belton Mayor Wendell Page. "The Saluda River Blue Trail attracts nature-based tourism from around the globe, and we are proud to serve as the host site for this major expansion of recreational opportunities in our region."
Grants were selected by an independent panel with diverse environmental expertise. The panel includes five external members and two Duke Energy representatives. View an interactive map showcasing all 125 grantees at duke-energy.com/H2O.
Additional details on the grants are available here.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy's customers live and work. The Foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
Twitter: @CandiceKnez
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SOURCE Duke Energy
Article Date
4/24/2019Duke Energy awards grants to 19 Indiana economic development groups
Source: PR Newswire
PLAINFIELD, Ind., April 22, 2019 /PRNewswire/ -- Duke Energy has awarded grants of up to $5,000 to 19 Indiana economic development groups for two separate programs.
"The Marketing Partnership Program and the Foreign Direct Investment Partnership Program are designed to help local economic development groups strengthen marketing efforts to help attract jobs and investment to the communities within our Indiana service territory," said Erin Schneider, director of economic development for Duke Energy Indiana.
To qualify for program consideration, each applicant must submit a marketing plan that has a direct impact on the community's economic growth and supports Duke Energy's economic development goals. Grant funding does not include travel, lodging, food and beverage and entertainment expenses.
The economic development organizations receiving the 2019 grants include:
Duke Energy Indiana
Duke Energy Indiana, a subsidiary of Duke Energy, provides about 6,600 megawatts of owned electric capacity to approximately 840,000 customers in a 23,000-square-mile service area, making it Indiana's largest electric supplier.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/22/2019Duke Energy Renewables completes acquisition of 150-MW North Rosamond solar project from Clearway Energy Group
Source: PR Newswire
CHARLOTTE, N.C., April 22, 2019 /PRNewswire/ -- Duke Energy Renewables, a subsidiary of Duke Energy, announced it has acquired the 150-megawatt (MW) North Rosamond solar project in Kern County, California from Clearway Energy Group.
The North Rosamond solar project is Duke Energy Renewables' sixth solar generation facility in Kern County.
"North Rosamond is a great addition to our growing solar portfolio," said Rob Caldwell, president of Duke Energy Renewables. "California is a leader in renewable energy, and we're pleased to support their efforts by continuing to provide the state with cost-efficient renewable energy to meet residents' needs."
The U.S. Bancorp Community Development Corporation, the tax credit division of U.S. Bank; M&T Bank's Commercial Equipment Finance Group; and Guardian Life Insurance Company of America provided tax equity financing to the project.
The 150-MW project, which contains over 477,000 solar panels, is located on approximately 1,188 acres outside of Rosamond, Calif. Construction is nearly complete and the project is expected to achieve commercial operation in early May. The North Rosamond project will be the largest solar project in Duke Energy Renewables' fleet. It will power approximately 71,000 homes.
The energy generated from the North Rosamond solar project will be sold to Southern California Edison under a 15-year agreement.
The project employed as many as 500 individuals during the peak construction period.
The facility's design, procurement of PV modules, inverters, balance of plant systems and construction of the project is being performed by First Solar Electric California's engineering, procurement and construction (EPC) subsidiary under a fixed-price EPC agreement for the project.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Clearway Energy Group
Clearway Energy Group is accelerating the world's transformation to a clean energy future. Built for 21st century energy markets and focused on providing customers with the power they need and the customer experience they deserve, Clearway was created and staffed with functions specific to renewable energy generation and distribution. With assets across 28 states, more than 500 employees and the capacity to power about 2.7 million homes, Clearway is bringing reliable and clean power to market from day one. The Company is headquartered in San Francisco, CA with offices in Carlsbad, CA; Scottsdale, AZ; Houston, TX; and New York, NY. For more information, visit www.clearwayenergygroup.com.
U.S. Bancorp Community Development Corporation
With $29 billion in managed assets as of Dec. 31, 2018, U.S. Bancorp Community Development Corporation (USBCDC), a subsidiary of U.S. Bank, provides innovative financing solutions for community development projects across the country using state and federally sponsored tax credit programs. USBCDC's commitments provide capital investment to areas that need it the most and contribute to the creation of new jobs, the rehabilitation of historic buildings, the construction of needed affordable and market-rate homes, the development of renewable energy facilities, and the generation of commercial economic activity in underserved communities. Visit USBCDC on the web at www.usbank.com/cdc.
M&T Bank Corporation
M&T Bank Corporation is a financial holding company headquartered in Buffalo, New York. M&T's principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T's Wilmington Trust-affiliated companies and by M&T Bank.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/22/2019Duke Energy to hold annual shareholders meeting May 2
Source: PR Newswire
CHARLOTTE, N.C., April 18, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) will hold its annual shareholders meeting Thursday, May 2, at 12:30 p.m. ET, online using a live video webcast.
Duke Energy Chairman, President and CEO Lynn Good will provide an overview of the company's 2018 performance and strategy for the future.
Shareholders will be able to participate in the meeting, vote on company and shareholder proposals and, through a website, submit questions before and during the meeting.
All questions will be answered, either during the meeting or afterward through a web posting.
Shareholders without computer or internet access to view the webcast will be able to listen to the meeting by calling a toll-free phone number.
Information about how shareholders can access the meeting through the webcast or toll-free phone number is available in Duke Energy's proxy statement.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Neil Nissan
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
4/18/20194/18/2019 - Piedmont Natural Gas urges customers to save time and money by keeping their service on during summer months
Piedmont Natural Gas urges customers to save time and money by keeping their service on during summer months
Source: PR Newswire
CHARLOTTE, N.C., April 18, 2019 /PRNewswire/ -- As temperatures begin to climb, many customers who have Piedmont Natural Gas service solely for heating sometimes choose to disconnect their service for the summer months. Piedmont encourages those customers to keep their service on year-round, a decision that could save them time and money.
When customers disconnect their service during warmer weather, they are subject to reconnection fees in the fall, which often amount to more than they save by stopping service.
Additionally, appointments to start or restart service include a mandatory equipment inspection that requires a resident to be home, which can necessitate customers taking time away from work or other commitments. Also, the increase in service calls once temperatures drop can lead to longer wait times for available appointments.
"We understand how inconvenient it can be to find yourself without heat during cold weather," said Sasha Weintraub, senior vice president & chief commercial officer, natural gas. "By keeping your service on year-round, you'll generally save money and always be ready when that first unexpected cold snap hits."
Customers who leave their service on all year long also are eligible for Piedmont's Equal Payment Plan. Under this plan, customers pay the same amount each month, resulting in lower bills during the winter.
"Equal Payment Plan is a real benefit for our customers," Weintraub said. "By spreading their Piedmont payments out evenly during the entire year, it can help them avoid the surprise of higher bills during colder months."
For more information on Piedmont's Equal Payment Plan, as well as other payment and billing options, visit piedmontng.com/payment.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers in North Carolina, South Carolina and Tennessee. The company also supplies natural gas to power plants. Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and has been named by Cogent Reports as one of the most trusted utility brands in the U.S.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jason Wheatley
Office: 704.731.4034 I 24-hour: 877.348.3612
jason.wheatley@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
4/18/2019When the lights go out, Duke Energy lineworkers shine
Source: PR Newswire
CHARLOTTE, N.C., April 18, 2019 /PRNewswire/ -- Lineworkers chase storms, climb towering poles and are always ready when severe weather strikes. And when the lights go out, our lineworkers shine.
Whether perched on a 40-foot pole or sky high in an elevated bucket truck, lineworkers ensure the electricity is flowing to power vital infrastructure from hospitals and water treatment facilities to businesses and industries and our everyday conveniences at home.
On April 18, we celebrate our lineworkers' role in powering the lives of millions of people across the country for National Lineman Appreciation Day.
"Powering the lives of hard-working families and communities is the most important job we have," said Lloyd Yates, executive vice president customer and delivery operations and president Carolinas. "Lineworkers' brave and vital work on the front lines requires dedication, passion and continuous training. Today, we honor them for keeping the lights on across America."
Lineworker hiring
If you like working outdoors, tackling challenges, working as a team and making a steady salary with overtime and advancement opportunities, Duke Energy and other companies who work on the electric grid are hiring. Nearly 900 lineworkers are needed this year to support Duke Energy's grid improvement work.
Anyone interested in lineworker positions can join our talent community, a pipeline for future recruitment, to stay connected about new lineworker opportunities. Visit https://dukeenergy.avature.net/DELineworker or text 'lineworker' to 67076. As positions become available, our recruiting team will notify the talent community.
Technology
While more traditional aspects of the job such as climbing poles and towers remain, technology has further enhanced the profession. Drones can be used to assess damage and string lines in areas with limited access following severe weather events.
New portable technology used by lineworkers in the field helps better inform customers on the status of outages including the causes, crew updates and the estimated times of restoration.
Technology developed by Duke Energy called "Ping It" helps crews quickly identify remaining outages as repairs are made to damaged lines. The technology "pings" customers' smart meters to verify the status of an outage, which saves crews time in the field, especially when restoring power after a storm.
More than 7,800 Duke Energy and contract lineworkers are part of the Duke Energy team. They are responsible for constructing, operating and maintaining equipment and more than 300,000 miles of power lines in Duke Energy's service territories – that is enough to wrap around the Earth 12 times.
Those who wish to honor lineworkers and their families are encouraged to use the hashtag #ThankALineman on social media.
For more information about Duke Energy's lineworkers, follow @DukeEnergy and visit facebook.com/DukeEnergy.
B-roll of lineworkers in the field is available, here: https://news.duke-energy.com/file?fid=560ef6e95e8eef0635e13d15.
For a behind the scenes look with a high-voltage line crew, visit https://illumination.duke-energy.com/articles/they-climb-the-tallest-poles-to-build-a-stronger-grid.
And, for a letter from a lineman's wife, visit: https://illumination.duke-energy.com/articles/my-husband-the-lineworker-is-a-superhero.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
meghan.miles@duke-energy.com
Twitter - @DE_MeghanM
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SOURCE Duke Energy
Article Date
4/18/2019Forbes once again names Duke Energy one of America's Best Employers
Source: PR Newswire
CHARLOTTE, N.C., April 17, 2019 /PRNewswire/ -- Forbes magazine has named Duke Energy (NYSE: DUK) to its 2019 list of America's Best Employers. Out of 500 companies ranked, Duke Energy moved up one spot to No. 105 and is the highest-ranking Charlotte-based employer.
"Our people are our power," said Melissa Anderson, Duke Energy's executive vice president, administration and chief human resources officer. "Every day, we strive to create a working environment where each employee is valued for their unique background and significant contributions."
The ranking is determined by an independent, anonymous survey of more than 30,000 U.S. employees working for companies employing at least 1,000 people in their U.S. operations. Respondents are asked to respond on several work-related topics, including working conditions, salary, potential for development and company image.
Company performance highlights include:
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2019 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/17/20194/17/2019 - Duke Energy commits nearly $265,000 to support dynamic education initiatives across Greater Cincinnati
Duke Energy commits nearly $265,000 to support dynamic education initiatives across Greater Cincinnati
Source: PR Newswire
CINCINNATI, April 17, 2019 /PRNewswire/ -- Duke Energy is investing in Greater Cincinnati students, educators and communities by awarding $264,138 in grants to 21 education programs.
The grants, which the company announced today at Cincinnati Public Schools' Education Center, support energy, engineering and environmental education programs to equip students with the skills needed for successful careers in the energy sector. They also aim to close the achievement gap that often separates low-income students from their peers by funding programs that prevent summer reading loss.
"We're funding important initiatives that allow students to explore a variety of science, technology, engineering and mathematics fields," said Amy Spiller, president of Duke Energy Ohio/Kentucky. "We're also backing impressive and exciting programs that provide the resources and tools underserved children need to blossom into tomorrow's leaders."
The education grants announced today are administered through the Duke Energy Foundation, which is focused on building powerful communities where nature and wildlife thrive, students can excel and a talented workforce drives economic prosperity for all.
Duke Energy and its Foundation, through various community investment vehicles, provided more than $2.9 million in support of Greater Cincinnati initiatives in 2018. In addition, the company's employees and retirees contributed more than $1.2 million to area nonprofits, including United Way and ArtsWave, last year.
Here are the grants announced earlier today:
Later this year, Duke Energy will announce the Greater Cincinnati recipients of its workforce, Urban Revitalization and nature grants.
Duke Energy Foundation and Duke Energy Ohio/Kentucky
The Duke Energy Foundation provides philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts, and is funded by Duke Energy shareholder dollars. More information about the foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
Duke Energy Ohio/Kentucky, a subsidiary of Duke Energy, provides electric service to about 860,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 538,000 customers.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/17/2019Competitive process yields Carolinas' biggest one-day collection of solar projects ever; significant savings for Duke Energy customers
Source: PR Newswire
CHARLOTTE, N.C., April 17, 2019 /PRNewswire/ -- Bringing more cost-effective solar energy to the Carolinas, 14 utility-scale projects have been selected during an independently judged bidding process – part of a 2017 comprehensive renewable energy law.
Based on an independent evaluation process, Duke Energy will produce or purchase a total of 602 megawatts (MW) of renewable energy from projects under the North Carolina's Competitive Procurement of Renewable Energy (CPRE) program.
According to independent administrator Accion Group, customers will see savings of around $375 million over the 20-year contract period versus the company's Avoided Cost - the price at which many solar contracts had been set prior to the CPRE program. See the Accion report.
"There was robust interest in the CPRE program, and the selected projects will provide 20 years of cost-effective energy to the Duke Energy system. Given the response, we are expecting the next phase of the program to also bring cost savings to customers," said Harry Judd of the Accion Group, which independently administered the solicitation process.
The 14 projects represent the most competitive of the 78 that were submitted when bidding opened last July. The process used was approved by the North Carolina Utilities Commission (NCUC) to select projects that would deliver the greatest cost and system benefits to customers.
"As solar energy expands in the Carolinas, the competitive bidding process will lead to better prices and more geographic diversity of projects," said Rob Caldwell, senior vice president and president of Duke Energy Renewables & Business Development. "This will enhance Duke Energy's efforts to promote a cleaner energy mix at lower prices for customers."
With the winning projects selected, Duke Energy and the winning bidders will execute contracts for the projects over the next few months. Once the contracting process is complete, Duke Energy and Accion Group will finalize a report of all projects to be filed with the NCUC around June 2019.
Most projects are targeted to be online around the end of 2020. However, the dates may vary depending upon local approvals and any construction delays.
There were 10 projects selected from North Carolina and four projects from South Carolina. Two projects selected included battery storage with the solar facility. They were not Duke Energy projects.
Duke Energy was awarded six projects totaling about 270 MW – representing almost 45 percent of the total awarded. With 40 solar projects already in North Carolina, the final results showcase Duke Energy's competitiveness at building solar power plants.
Duke Energy self-developed projects selected:
Duke Energy Carolinas: 69-MW – Catawba County, N.C.
Duke Energy Carolinas: 25-MW – Gaston County, N.C.
Duke Energy Renewables: 50-MW – Cleveland County, N.C.
Duke Energy Renewables: 22.6-MW – Surry County, N.C.
Duke Energy Renewables: 22.6-MW – Cabarrus/Stanly counties, N.C.
Winning utility acquisition project selected:
Duke Energy Progress: 80-MW – Onslow County, N.C.
One of the provisions of 2017's "Competitive Energy Solutions for North Carolina" law was a process that would create a competitive bidding structure for solar energy.
Projects can be built anywhere on the Duke Energy system in North Carolina or South Carolina. The bids can come from any company, including Duke Energy, and can be in the form of power purchase agreements (PPA), utility self-developed facilities or utility asset acquisitions.
"Duke Energy companies will complete six of the 14 winning projects – a strong reflection of how competitive we are in the open market at building renewable energy projects," added Caldwell.
Duke Energy is one of the nation's leading renewable energy companies, and has invested more than $6 billion in renewable energy. The company operates more than 20 wind facilities and 60 solar facilities in about 20 states around the nation.
Duke Energy already has more than 3,000 MW of solar capacity connected to its grid in the Carolinas, which includes those owned by Duke Energy and those owned by other companies. It expects to invest or procure a total of 7,000 MW by 2025. Overall, North Carolina is the No. 2 state in the nation for solar power generation, and South Carolina is one of the fastest-growing states for solar in the nation.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
4/17/2019Duke Energy Renewables constructs 200-MW Mesteño Wind Project in Texas
Source: PR Newswire
CHARLOTTE, N.C., April 11, 2019 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy, today announced it will build, own and operate a 200-megawatt (MW) wind project – Mesteño – in Starr County, Texas. The project's output will be sold into the ERCOT market and Duke Energy Renewables will enter into a long-term hedge agreement covering the majority of the expected wind energy production.
The Mesteño Wind Project will be Duke Energy Renewables' fourth wind generation facility in Starr County.
The project has received strong local support from the Rio Grande City Consolidated Independent School district, Starr County, Starr County Hospital and South Texas College.
Construction has begun and will be completed by the end of 2019. Once completed, Mesteño will contain turbines 590.5 feet tall – some of the tallest wind turbines in the United States. The tall tower turbines will harness stronger winds and increase wind energy production. This project increases Duke Energy Renewables' U.S. wind capacity to more than 2,500 MW.
"We're excited to continue to invest to build and expand renewable energy resources in Texas," said Rob Caldwell, president of Duke Energy Renewables. "This project will deliver clean energy for the state and significant economic benefits to the area."
During peak construction, the wind project will create approximately 200 jobs. It will also deliver more than $16 million in tax revenue over the first 10 years of its operation.
Vestas supplied 56 3.6-MW tall tower turbines for the site.
"We're pleased to expand our tall tower technology and V136-3.6 MW platform," said Chris Brown, president of Vestas' sales and service division in the United States and Canada. "The combination of taller towers and V136-3.6 MW technology is perfectly designed to extract the abundant resource at the site, and deliver low-cost, reliable energy to the community and customer."
The 200-MW Mesteño wind facility will produce enough energy to power about 60,000 average homes.
Amshore US Wind provided development support for the project, and Wanzek Construction is the contractor.
Duke Energy is one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
Duke Energy Renewables
Duke Energy Renewables, a nonregulated unit of Duke Energy, operates wind and solar generation facilities across the U.S., with a total electric capacity of 3,000 megawatts. The power is sold to electric utilities, electric cooperatives, municipalities, and commercial and industrial customers. The unit also operates energy storage and microgrid projects. Visit Duke Energy Renewables for more information.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, in addition to Duke Energy Renewables' capacity.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jennifer Garber
Office: 980.373.0668 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/11/2019Duke Energy to appeal recent state order to excavate ash basins
Source: PR Newswire
CHARLOTTE, N.C., April 11, 2019 /PRNewswire/ -- Today, the company issued the following statement in response to an April 1, 2019, order by the North Carolina Department of Environmental Quality (NCDEQ) requiring excavation of coal ash basins at the company's Allen, Belews Creek, Cliffside/Rogers, Marshall, Mayo and Roxboro facilities. The state decision came after the company submitted to NCDEQ detailed scientific and engineering analyses for nine of the company's 31 North Carolina basins where site-specific closure plans had not yet been determined.
-----
The order by the NCDEQ to excavate the final nine ash basins would impose a financial burden on our customers and the economy of the Carolinas through the most expensive and disruptive closure option possible, despite that these basins are rated "low risk" by NCDEQ.
The process by which NCDEQ arrived at its decision lacked full consideration of the science and engineering, and we will provide those details when we file an appeal before the North Carolina Office of Administrative Hearings in the near future.
We have made tremendous progress in safely and permanently closing ash basins around the Carolinas, and we will continue that work as we resolve this issue.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/11/2019Duke Energy 'flips the switch' at ceremonial grand opening of new Citrus Combined Cycle Station in Florida
Source: PR Newswire
CRYSTAL RIVER, Fla., April 4, 2019 /PRNewswire/ --
(Editor's note: To download photos and video clips, including interviews with Duke Energy executives, click media kit.)
Duke Energy today celebrated the ceremonial grand opening of its new 1,640-megawatt Citrus Combined Cycle Station located at the 5,100-acre Crystal River Energy Complex in Citrus County, Fla., about 85 miles north of Tampa.
More than 300 community leaders, elected officials and Duke Energy employees attended.
The station started producing energy for 4.5 million Floridians in late 2018.
"Our $1.5 billion investment in the new Citrus Combined Cycle Station is another example of the cleaner, smarter energy future we're creating for our customers," said Lynn Good, Duke Energy chairman, president and CEO. "This highly efficient, state-of-the-art natural gas station is delivering significant economic and environmental benefits to Florida customers and communities."
Environmental benefits
Combined-cycle natural gas units generate energy more efficiently and have significantly lower emissions than coal-fired units.
By investing in the new Citrus station, sulfur dioxide, nitrogen oxides and other emissions are expected to drop by 90 percent in comparison to the operation at the two 1960s-era Crystal River coal-fired units, which formally retired in December 2018.
The new station is also strategically built on the east side of its 400-acre property to protect an active bald eagle's nest, which currently has two eaglets, and wetlands that are on the west side of the property.
Economic benefits
The Citrus station provided more than $600 million in economic benefits during construction and will provide about $13 million annually during the station's 35-year operational life.
During the height of construction, the project created about 3,000 temporary construction jobs and provided work to more than 100 companies around the world and across the U.S. and Florida. In all, crews poured about 37,000 cubic yards of concrete – equal to about six football fields filled waist deep – and installed about 475 miles of wire and cable.
The new station is expected to generate approximately $4 million in new Citrus County property taxes for 2019, benefiting schools and local governments.
About 50 full-time Duke Energy employees are operating and maintaining the station.
"Economic development in every community needs a solid cornerstone," said Jeff Kinnard, chairman, Citrus County Board of County Commissioners. "In Citrus County, that foundation is Duke Energy. We are pleased to participate in the celebration of this new state-of-the-art facility and congratulate Duke Energy on its success."
Community commitment
Since 1966, Duke Energy employees have donated their time, talent and treasure to give back to the communities and neighborhoods where they live and work.
Since 2012, Duke Energy has contributed more than $1.75 million to Citrus County through Duke Energy Foundation grants and community sponsorships.
In 2018 alone, the company provided about $125,000 in Foundation grants and community sponsorships to Citrus County organizations and an additional $103,000 to United Way of Citrus County through employee pledges and the Foundation match.
Employees also logged 2,927 volunteer hours helping nonprofit organizations advance their mission, such as removing algae from a local spring and sponsoring underprivileged children at Christmas.
"Duke Energy continues to have a great local presence – its employees are woven into the fabric of our community," said Joe Meek, city of Crystal River mayor. "With this investment, that presence will continue for generations to come."
Other details
The Crystal River Energy Complex is home to the new Citrus Combined Cycle Station, two operating coal-fired units – which are among the cleanest in the country – two retired coal-fired units and a decommissioning nuclear plant.
The complex also has a mariculture center that raises and then releases fish into the Gulf of Mexico and grows freshwater eelgrass, donating more than 8 million individual plants for various springs and lake restoration projects.
The Citrus station has two power blocks, four combustion turbine generators and two steam turbine generators, providing the latest technology with a proven performance.
Megawatts from the new station combined with the two operating coal-fired units make the Crystal River Energy Complex one of Duke Energy's largest generators in Florida, capable of producing more than 3,000 megawatts of energy. One megawatt powers about 800 average homes.
The new station receives natural gas through the new 515-mile Sabal Trail pipeline. The $3.2 billion pipeline starts in Alabama, extends through Georgia and ends in Central Florida. Duke Energy is a 7.5 percent owner of the pipeline.
Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns a diverse generation mix of natural gas, coal and renewables, providing about 10,200 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Heather Danenhower
Cell: 352.497.4534 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/4/2019Duke Energy to announce first quarter 2019 financial results on May 9
Source: PR Newswire
CHARLOTTE, N.C., April 4, 2019 /PRNewswire/ -- Duke Energy will announce its first quarter 2019 financial results at 7 a.m. ET on Thursday, May 9, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss first quarter 2019 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 1767856. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 19, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 1767856. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
4/4/2019Workhorse Group Forms Alliance with Duke Energy to Support Faster Adoption and Scaling of Fleet Electrification
Source: PR Newswire
CINCINNATI, April 4, 2019 /PRNewswire/ -- Workhorse Group Inc. (NASDAQ: WKHS) ("Workhorse"), an American technology company focused on providing sustainable and cost-effective electric-mobility solutions to the transportation sector, and Duke Energy (NYSE: DUK) have entered into an alliance to offer fleet electrification ("eFleet") solutions to existing and future Workhorse customers, including the development of the EV infrastructure requirements for its current and future blue chip customers including both commercial and government fleets. Potential offerings include single-point management and financing of all the Behind the Meter (BTM) infrastructure necessary to support depot-wide electrification, vehicle financing/battery management programs, solar and energy storage and other distributed energy resources.
Workhorse believes these eFleet solutions will help reduce the overall costs of fleet electrification and accelerate the adoption of electric vehicles into commercial and government fleets. By creating this alliance, Workhorse and Duke Energy will work to reduce the risk and complexity of placing significant orders for Workhorse vehicles and the scaling up of related EV infrastructure.
"We are pleased with this significant step in deepening our relationship with Duke Energy," said Duane Hughes, CEO of Workhorse. "Changing the way the world works requires partnerships and collaboration, as we need teams of people and companies to work together to achieve this goal. We believe this relationship between Workhorse and Duke Energy will allow our current and future commercial and government customers to more readily adapt fleet electrification plans offering a seamless electrification strategy through the Workhorse/Duke Energy partnership that will be second to none when customers are evaluating EV solutions."
About Workhorse Group Inc.
Workhorse is a technology company focused on providing electric mobility solutions to the transportation sector. As an American original equipment manufacturer, we design and build high performance battery-electric vehicles including trucks and aircraft. We also develop cloud-based, real-time telematics performance monitoring systems that are fully integrated with our vehicles and enable fleet operators to optimize energy and route efficiency. All Workhorse vehicles are designed to make the movement of people and goods more efficient and less harmful to the environment. For additional information, visit www.workhorse.com.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Workhorse Safe Harbor Statement
This release includes forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as "believes," "expects," "anticipates," "estimates," "projects," "intends," "should," "seeks," "future," "continue," or the negative of such terms, or other comparable terminology. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ materially from the forward-looking statements contained herein. Factors that could cause actual results to differ materially include, but are not limited to: our limited operations and need to expand in the near future to fulfill product orders; risks associated with obtaining orders and executing upon such orders; the ability to protect our intellectual property; the potential lack of market acceptance of our products; potential competition; our inability to retain key members of our management team; our inability to raise additional capital to fund our operations and business plan; our inability to maintain our listing of our securities on the Nasdaq Capital Market; our ability to continue as a going concern; our liquidity and other risks and uncertainties and other factors discussed from time to time in our filings with the Securities and Exchange Commission ("SEC"), including our annual report on Form 10-K filed with the SEC. Workhorse expressly disclaims any obligation to publicly update any forward-looking statements contained herein, whether as a result of new information, future events or otherwise, except as required by law.
Investor Relations Contact:
Matt Glover and Tom Colton
Liolios
949-574-3860
WKHS@liolios.com
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SOURCE Workhorse Group Inc.
Article Date
4/4/2019Piedmont Natural Gas requests first general rate review in North Carolina since 2013
Source: PR Newswire
CHARLOTTE, N.C., April 1, 2019 /PRNewswire/ -- For the first time in six years, and following significant investments for the ongoing growth, safety and reliability of its system, Piedmont Natural Gas today filed a request with the North Carolina Utilities Commission (NCUC) to raise its base rates. Piedmont seeks to recover costs related to system growth, pipeline integrity management, infrastructure investments, and safety and security upgrades.
"Customer growth and our commitment to operating a natural gas pipeline system that meets the highest safety and reliability standards required critical investment over the past six years," said Frank Yoho, executive vice president and president, Piedmont Natural Gas. "Upholding these standards is the very foundation of our commitment to our customers and the communities we serve."
Piedmont's proposed rate increase of approximately 9 percent applies to residential, commercial and industrial customers. As a result, Piedmont's average residential customer could expect a monthly bill increase of about $6. If approved, the increase will be less than the rate of inflation since 2013, and monthly bills for the average residential customer will be less than those in 2008 due to the continued low price of natural gas.
Some of this investment is required by the U.S. Department of Transportation and the Pipeline and Hazardous Materials Safety Administration as part of broad pipeline regulations. The remaining investment is related to an increase in Piedmont's customer base and upgrades to the system to help our state and communities continue to grow.
The impact of this rate increase has been mitigated by recent federal and state tax reform, and these funds will be returned to our customers.
"Piedmont's dedicated professionals work hard every day to provide our customers and communities with safe, reliable and affordable natural gas service through wise, prudent investments," Yoho added. "We also educate our customers on how they can save additional money through energy efficiency and conservation of natural gas to further reduce their bills. This is part of our commitment to excellent customer service."
If approved by the NCUC, Piedmont anticipates the new rates will go into effect by the end of 2019. To learn more about Piedmont's proposed rate increase, visit piedmontng.com/rates.
Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
4/1/2019Duke Energy responds to latest milestone in the safe basin closure process
Source: PR Newswire
CHARLOTTE, N.C., April 1, 2019 /PRNewswire/ -- Duke Energy today issued the following statement in response to an announcement by the North Carolina Department of Environmental Quality (NCDEQ) regarding the department's evaluation of closure options for coal ash basins at the company's Allen, Belews Creek, Cliffside/Rogers, Marshall, Mayo and Roxboro facilities. At the end of 2018, the company submitted to NCDEQ detailed scientific and engineering analyses for nine of the company's 31 North Carolina basins where site-specific closure plans had not yet been determined.
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We are making strong progress to permanently close every ash basin in North Carolina in ways that fully protect people and the environment, while keeping costs down as much as possible for our customers.
With respect to the final six sites—which NCDEQ has ruled are low-risk—science and engineering support a variety of closure methods including capping in place and hybrid cap-in-place as appropriate solutions that all protect public health and the environment. These closure options are also consistent with how hundreds of other basins around the country are expected to be closed.
Excavation at some sites will take decades, stretching well beyond the current state and federal deadlines.
Based on current estimates and closure timeframes, excavating these basins will add approximately $4 billion to $5 billion to the current estimate of $5.6 billion for the Carolinas.
We will carefully review today's announcement and will continue to support solutions that protect our customers and the environment.
Learn more about the company's strong progress safely closing coal ash basins.
About Duke Energy
Duke Energy (NYSE: DUK), a Fortune 125 company headquartered in Charlotte, N.C., is one of the largest energy holding companies in the U.S. It employs 30,000 people and has an electric generating capacity of 51,000 megawatts through its regulated utilities, and 3,000 megawatts through its nonregulated Duke Energy Renewables unit.
Duke Energy is transforming its customers' experience, modernizing the energy grid, generating cleaner energy and expanding natural gas infrastructure to create a smarter energy future for the people and communities it serves. The Electric Utilities and Infrastructure unit's regulated utilities serve approximately 7.7 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. The Gas Utilities and Infrastructure unit distributes natural gas to more than 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The Duke Energy Renewables unit operates wind and solar generation facilities across the U.S., as well as energy storage and microgrid projects.
Duke Energy was named to Fortune's 2019 "World's Most Admired Companies" list, and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/1/2019Duke Energy proposes $76M electric transportation program in North Carolina; Southeast's largest utility EV initiative yet
Source: PR Newswire
CHARLOTTE, N.C., April 1, 2019 /PRNewswire/ -- As part of its commitment to build a cleaner and smarter North Carolina, Duke Energy is proposing the largest investment in electric vehicle (EV) infrastructure ever in the Southeast – a $76 million initiative to spur EV adoption across the state.
In a filing with the North Carolina Utilities Commission (NCUC), Duke Energy outlined its watershed program that will provide incentives to customers. It will also lead to a statewide network of fast-charging stations to meet growing demand. The three-year program requires NCUC approval. Read the filing.
"North Carolina deserves a cleaner and smarter energy future, and supporting the use of electric transportation is a Duke Energy priority that will benefit our communities, customers and our state's future," said Lang Reynolds, Duke Energy's director of Electrification Strategy. "This initiative will help accelerate public and private EV use while also reducing carbon emissions."
Duke Energy's proposal will help fund the adoption of electric school buses, electric public transportation, and will lead to almost 2,500 new charging stations in the state.
Currently, North Carolina has more than 10,000 plug-in hybrid and all-electric vehicles. It has approximately 600 public charging stations. This program would more than double that amount.
The proposed initiative before the NCUC has several components:
Residential EV Charging: This program will provide a $1,000 rebate for qualifying Level II charging stations for up to 800 residential customers. Level II charging allows customers to charge their EVs up to six times faster than a standard wall outlet.
Public Charging: Duke Energy will install and operate more than 800 public charging stations across North Carolina, including DC Fast Charging, Public Level II and multifamily locations, which will expand the state's network of EV charging stations.
Fleet EV Charging: The program will provide a $2,500 rebate for 900 qualifying charging stations for commercial and industrial customers who operate fleets that are transitioning to electric and plug-in hybrid vehicles. Municipalities and universities also qualify for these rebates.
EV School Bus Charging Station: Duke Energy will provide financial support to eligible customers to procure up to 85 electric school buses. Duke Energy will install the associated charging infrastructure.
EV Transit Bus Charging Station: Duke Energy will install and operate more than 100 electric transit bus charging stations for eligible transit agencies electing to procure electric buses. Electric transit buses eliminate diesel emissions and reduce fuel and maintenance costs for transit agencies.
The program follows a similar $10.4 million program being considered by the Public Service Commission of South Carolina.
Read more about the benefits of electric vehicles at Duke Energy's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
4/1/2019Duke Energy Florida announces 3 more solar power plants, totaling 195 megawatts
Source: PR Newswire
ST. PETERSBURG, Fla., March 25, 2019 /PRNewswire/ -- Duke Energy Florida (DEF) today announced the locations of its newest universal solar power plants, which will provide cleaner, smarter energy solutions to benefit Florida customers.
"These three solar power plants are expected to eliminate nearly 800 million pounds of carbon dioxide emissions in Florida each year upon commercial operation. That's the equivalent of taking about 70,000 passenger cars off the road each year," said Catherine Stempien, Duke Energy Florida state president. "These projects represent our commitment to the environment and more fuel diversity in the state as we strategically pace the expansion of renewable generation for our Florida customers' benefit."
DEF is investing an estimated $1 billion to construct or acquire a total of 700 MW of cost-effective solar power facilities through 2022.
By buying existing solar projects and using a competitive process to select DEF solar contractors, solar panels and project material suppliers, the company's solar power plants bring the greatest amount of dependable renewable energy online for customers in the most efficient and economical way while creating more jobs in the solar and energy-related markets.
Last year, our Hamilton Solar Power Plant, sized at 74.9 MW, was placed in service in Jasper, Fla., and marked the fifth DEF-owned solar power plant in operation in Florida.
The previously announced 74.9-MW Columbia Solar Power Plant in Columbia County will be completed in March 2020. Together, with today's announcement, DEF will have nine solar power plants in operation by the end of the first quarter of 2020.
Over the next decade, the company will also make innovative and targeted investments in additional solar power plants, battery storage technology, shared solar, transportation electrification and a modernized power grid to help meet customers' needs for diverse, reliable energy solutions.
Florida Public Service Commission filing
Duke Energy Florida filed a request today with the Florida Public Service Commission to recover the estimated investment costs associated with the cost-effective Lake Placid, Trenton and DeBary solar power plants.
Solar technology has become less expensive and more efficient over time. Duke Energy has purposefully paced its solar investments over time to take advantage of these benefits for its customers.
Commercial and industrial customers would see approximately half a percent change or less per project.
For both the Lake Placid and Trenton solar power plants, the forecast base rate increase would begin in the January 2020 billing period.
For the DeBary Solar Power Plant, the forecast base rate increase would begin in the April 2020 billing period.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK). Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/25/20193/18/2019 - Duke Energy announces $1 million in grant opportunities to power storm resiliency in N.C. communities
Duke Energy announces $1 million in grant opportunities to power storm resiliency in N.C. communities
Source: PR Newswire
CHARLOTTE, N.C., March 18, 2019 /PRNewswire/ -- After a year of record-setting weather events – from tornadoes and flooding to ice storms and hurricanes – the Duke Energy Foundation today announced $1 million in funding to help North Carolina communities increase their resiliency to these major weather events with advanced preparation and planning through the Powerful Communities: Storm Resiliency grant program.
"Duke Energy stands with our communities as they recover from the devastation of recent storms, and we want to help them become more resilient to the impacts of future storms," said Stephen De May, North Carolina president, Duke Energy.
The grant application is open now through June 15 and is available at duke-energy.com/foundation – use the invitation code 9344WNV98Z to apply. This is a one-time-only opportunity to apply for up to $50,000 in Storm Resiliency grants, as part of the Foundation's annual State Strategic Impact grant cycle. Grant applications may include, but are not limited to, projects that focus on:
All regions of the state served by Duke Energy Carolinas or Duke Energy Progress are eligible to apply, and communities impacted by severe weather in recent years will be given priority. Both nonprofits and governmental entities are eligible to apply.
Grant decisions will be made in August. Please visit duke-energy.com/foundation and select State Strategic Impact for more information.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
Office: 919.546.2109 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/18/2019North Carolina's solar power output grew 36 percent in 2018
Source: PR Newswire
CHARLOTTE, N.C., March 15, 2019 /PRNewswire/ -- Annual solar energy production in North Carolina jumped 36 percent in 2018, according to the latest government data – firmly placing North Carolina as the No. 2 solar-producing state in the nation.
Data (page 54) from the U.S. Energy Information Administration (EIA) confirmed North Carolina's 36 percent growth, which significantly outpaced other leading solar states. By comparison, California's annual solar production rose 15 percent; Arizona's and Nevada's outputs each grew 10 percent in 2018.
"Duke Energy continues to connect more solar to the North Carolina energy grid and promote new customer programs in response to the state's 2017 solar law," said Stephen De May, Duke Energy's North Carolina president. "Working collaboratively with stakeholder groups, Duke Energy is promoting smart, cost-effective solar options for our customers."
At year-end 2018, EIA reported North Carolina produced 7.2 million megawatt-hours of solar generation – enough to power more than 600,000 homes. North Carolinas was third in the nation for connecting new solar projects in 2018. Most solar energy produced in North Carolina is owned or purchased by Duke Energy.
Energy mix getting cleaner in the Carolinas
With 4 million customers in North Carolina and South Carolina, Duke Energy continues to build a smarter energy future. In the Carolinas, more than half of the energy produced comes from carbon-free resources including nuclear, hydropower and solar.
Since 2011, Duke Energy has shut down 30 coal-fired power plants in the Carolinas and will retire five additional coal-fired units in the next six years. Since 2005, the company has also reduced carbon dioxide emissions by 36 percent in the Carolinas, and projects a 53 percent reduction in the Carolinas by 2025.
The company is also continuing to pursue battery storage, with a $500 million investment slated over the next 10 years and projects already underway in the Asheville area.
Other North Carolina efforts to promote solar
Duke Energy owns and operates more than 35 solar facilities in North Carolina and has invested more than $1 billion in renewable energy in the state.
The company also continues to introduce new solar programs for different types of customers. The company's $62 million solar rebate program for residential, commercial and nonprofit customers in North Carolina has helped 3,000 customers go solar in its first two years. Duke Energy will continue offering these rebates over the next three years.
In 2018, Duke Energy connected more than 500 megawatts (MW) of new solar capacity – enough to power about 100,000 homes at peak output. Duke Energy also launched a competitive bidding process for new solar capacity.
The process, being overseen by an independent administrator, seeks to add 680 MW of new solar capacity in 2019 – enough to power about 125,000 homes at peak output. This will ensure the best and most cost-effective projects are built to benefit customers in the Carolinas. Winning projects are expected to be named this spring.
In 2018, Duke Energy also became one of the few companies in the Carolinas to offer solar leasing to commercial customers. A subsidiary of Duke Energy will build, own and operate on-site solar facilities that will allow customers in North Carolina and South Carolina to access renewable energy without paying a large upfront investment.
For industrial customers, the company recently received the order from the North Carolina Utilities Commission for its Green Source Advantage program in North Carolina. This "green tariff" provides customers the flexibility to negotiate directly with solar developers to add more renewable energy to the grid, with no cost to other customer classes.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact:
Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
3/15/2019Clean and green: Duke Energy issues second green bond
Source: PR Newswire
CHARLOTTE, N.C., March 7, 2019 /PRNewswire/ -- Duke Energy Progress, a subsidiary of Duke Energy (NYSE: DUK), has completed its first issuance of $600 million in green bonds that will finance eligible green energy projects, including the development, construction and procurement of solar generation in the Carolinas.
This transaction, which involved two minority-owned banks to place the bonds, marks the second green bond transaction by a Duke Energy utility. Duke Energy Carolinas issued $1 billion of green bonds in November 2018.
"We are providing our customers and communities with ever-cleaner energy – and these investments help us get there even faster as we expand renewable energy across the Carolinas," said Duke Energy executive vice president and chief financial officer Steve Young. "We saw strong interest in our first green bond last year and are excited to expand these offerings for investors."
The company is well on its way to achieving its goal of reducing carbon emissions by 40 percent by 2030, having already reduced carbon emissions by 31 percent from 2005 levels.
In the last decade, Duke Energy Progress retired 12 older coal-fired units, increased nuclear generation capacity and added more than 2,000 megawatts (MW) of built or purchased solar capacity. For six straight years, the utility has been among the top 10 utilities nationwide for adding solar capacity to its system.
The green bonds, priced at 3.45 percent fixed-rate coupon and 10-year maturity, will ensure the company's eligible green projects continue to be financed on attractive terms to serve Carolinas customers.
The company priced the bonds on March 4 and closed the transaction earlier today.
Among the underwriters were two diversity banks – Academy Securities, Inc. and C.L. King & Associates. These two banks are owned and primarily staffed by disabled veterans and women, and increase Duke Energy's work with diverse investors and suppliers.
"This was an exciting opportunity to support Duke Energy's investments in green energy as well as its strategy to advance diversity and inclusion," said Chance Mims, CEO of Academy Securities. "As an investment bank owned by disabled veterans, we are proud of the business community's efforts to bolster awareness of firms with diverse backgrounds and look forward to seeing this focus further develop."
"As we look ahead, we plan to invest in clean, green generation sources into the future and will continue to look for innovative options to finance these projects with diversity-owned firms," said Young.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/7/2019Duke Energy customers' projected tax act savings top $110 million in Ohio and Kentucky
Source: PR Newswire
CINCINNATI, March 5, 2019 /PRNewswire/ -- Duke Energy customers in Ohio and Kentucky will likely see a combined $110.7 million in savings on their energy bills thanks to the Tax Cuts and Jobs Act of 2017.
As a result, individual households could see bill savings of up to approximately $70 over the course of one year. Customers who receive both electric and natural gas service from Duke Energy may see even higher savings.
"We've been working closely with state regulators to ensure that our customers enjoy immediate and long-term benefits of the tax act," said Amy Spiller, president of Duke Energy Ohio & Kentucky. "Since the act was passed, we've taken many voluntary and proactive steps to enable our customers to start saving money on their monthly energy bills."
Ohio customers will see bills go down even more beginning this month
Last month, regulators approved the company's proposal to deliver $18 million in new, annual tax savings to its electric customers in Ohio – along with an additional $8 million that will be passed along to customers over the coming year. These savings, which will appear on monthly bills beginning this month, are in addition to approximately $20 million in annual tax savings that Duke Energy began passing along to its Ohio electric customers in 2018.
Compared to 2017, a typical residential electric customer in Ohio saved about $13 on electric charges in 2018 due to the tax act – and can expect to save approximately $40 in 2019.
Additionally, regulators are reviewing Duke Energy's proposal to provide $17 million in new, annual tax act savings to its natural gas customers in Ohio – along with a one-time $20 million credit that will be passed along to customers over a 12-month period. The proposed savings would be in addition to approximately $3 million the company began providing to its Ohio natural gas customers in 2018. If regulators approve Duke Energy's plan, a typical residential natural gas customer in Ohio will pay about $70 less for service over 12 months as a result of the tax act.
Kentucky customers likely to see additional savings in 2019
In May 2018, Duke Energy Kentucky electric customers began seeing nearly $16.5 million in tax act benefits on their bills. When compared to 2017, a typical residential electric customer in Kentucky saved $37 on electric charges in 2018 due to the tax act. In 2019, a typical residential electric customer of Duke Energy Kentucky can expect to save $55.
Separately, late last year, the company began applying a $3 million credit to Kentucky customers' gas bills resulting from the tax act. This credit will be reflected on bills through the end of this month.
Duke Energy Kentucky natural gas customers will see even more tax act savings, pending regulatory approval of the company's proposal to adjust base rates. In its application, Duke Energy Kentucky proposed applying $5.2 million in tax act benefits to its natural gas customers' rates. If approved, the tax act savings will equate to approximately $51 per year for a typical residential customer.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/5/2019DUKE ENERGY INVESTIGATION INITIATED BY FORMER LOUISIANA ATTORNEY GENERAL: Kahn Swick & Foti, LLC Investigates the Officers and Directors of Duke Energy Corporation - DUK
Source: PR Newswire
NEW ORLEANS, March 1, 2019 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF has commenced an investigation into Duke Energy Corporation (NYSE: DUK).
On February 1, 2019, the Wall Street Journal reported that, based on a filing by the North American Electric Reliability Corp., a nonprofit oversight entity, and people familiar with the matter, the Company was facing a $10M fine by the Federal Energy Regulatory Commission for numerous violations of safety and cyber security rules, including "repeated failures to implement physical and cyber security protections," and that the Company had "failed to protect sensitive information on its most critical cyber assets and allowed employees without proper clearances to access computerized records for more than four years." According to the report, the 127 violations cited presented a serious risk to "the eastern interconnection, the web of electric utilities east of the Rocky Mountains that furnishes electricity to most Americans."
KSF's investigation is focusing on whether Duke's officers and/or directors breached their fiduciary duties to Duke's shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Duke shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nyse-duk/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include Former Louisiana Attorney General Charles C. Foti, Jr., is a law firm focused on securities, antitrust and consumer class actions, along with merger & acquisition and breach of fiduciary litigation against publicly traded companies on behalf of shareholders. The firm has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contact:
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
lewis.kahn@ksfcounsel.com
1-877-515-1850
1100 Poydras St., Suite 3200
New Orleans, LA 70163
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SOURCE Kahn Swick & Foti, LLC
Article Date
3/2/2019Duke Energy board appoints Marya Rose as board member
Source: PR Newswire
CHARLOTTE, N.C., Feb. 28, 2019 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of Marya Rose – chief administrative officer at Cummins Inc. – as a new board member, effective March 1, 2019.
Cummins Inc. is a global technology leader based in Indiana that designs, manufactures, distributes and services a broad portfolio of reliable clean power solutions – including diesel, natural gas, hybrid, electric, and other non-traditional power sources.
Rose – a member of Cummins' executive leadership team – oversees nine global functions at the company: communications, marketing, government relations, ethics and compliance, enterprise risk management, facilities, security, corporate responsibility, and shared services.
"Marya Rose brings strong leadership experience in a wide range of key corporate functions at a highly respected company known for growth and innovation," said Lynn Good, Duke Energy's chairman, president and CEO. "We're excited to have her join Duke Energy's board during this transformative time for our company, and we look forward to her contributions."
Including Rose, women now comprise 25 percent of Duke Energy's board members (four of 16).
Rose will join two board committees: compensation committee, and regulatory policy and operations committee.
She was named Cummins' chief administrative officer in 2011, after serving as general counsel and corporate secretary for 10 years.
As Cummins' general counsel, Rose transformed the legal function from a U.S. organization to a global one, with lawyers in China, India, Brazil, Mexico, Europe, Australia and Africa. As corporate secretary, she advised Cummins' board on shareholder strategy.
Prior to joining Cummins, Rose served two Indiana governors and practiced law in Indianapolis.
She has held leadership positions on the boards of several nonprofit organizations, including Planned Parenthood of Indiana and Kentucky, the Indianapolis Museum of Art (now Newfields), Hoosier Women Forward, and 16 Tech.
Rose holds a law degree from Indiana University-Indianapolis (now the McKinney School of Law), and a bachelor's degree in political economy from Williams College.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
2/28/2019Duke Energy reports fourth-quarter and full-year 2018 financial results
Source: PR Newswire
CHARLOTTE, N.C., Feb. 14, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its fourth-quarter and full-year 2018 financial results in a news release available on the company's website at the following link: duke-energy.com/investors.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 9977760. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1:30 p.m. ET, Feb. 24, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S., and using the code 9977760. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
2/14/20192/7/2019 - Duke Energy Carolinas program will provide South Carolina customers a new choice for solar energy
Duke Energy Carolinas program will provide South Carolina customers a new choice for solar energy
Source: PR Newswire
GREENVILLE, S.C., Feb. 7, 2019 /PRNewswire/ -- Duke Energy Carolinas is providing another affordable renewable energy option for its South Carolina customers that will enable them to see real savings in their monthly bills from the output of two new solar facilities in Anderson County.
Following on the successful launch of a nearly identical program last year by Duke Energy Progress, the Shared Solar Program is available to all qualified Duke Energy Carolinas residential and nonresidential customers including those who hold tax-exempt status, those who rent or live in multifamily housing, and those who may not otherwise have access to solar energy.
Customers who subscribe to solar energy through the Shared Solar Program will receive a monthly bill credit for the value of the energy produced by their subscription.
"This program is a great opportunity for any customers who are unable to put a solar facility on their property to access renewable energy," said Kodwo Ghartey-Tagoe, state president for Duke Energy in South Carolina. "We estimate that a typical residential customer will be credited more than $200 per year from their Shared Solar subscription. Customers are not only saving on their electric bill, they are directly supporting a renewable energy future in South Carolina for generations to come."
The program is powered by two new facilities in Anderson County – a 2 megawatt facility near Piedmont and a 1 megawatt facility in Pelzer – developed and owned by Soltage, an independent renewable power provider that develops, finances and operates solar and solar-plus-storage projects across the U.S.
Duke Energy Carolinas serves about 591,000 customers in the Upstate region of South Carolina, including Greenwood, Greenville, Spartanburg, Lancaster and York counties. Duke Energy Progress serves about 169,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
How does shared solar work?
To enroll, participants pay an application fee and a one-time charge to reserve their share of the solar plant.
Once accepted, the customer will begin seeing Shared Solar monthly credits based on solar production and a small monthly per kilowatt subscription fee on their bill to support operation of the Anderson County solar facilities.
For qualified low-income customers, Duke Energy Carolinas will waive the application cost and initial fees. Customers should contact their local community action agency for assistance determining eligibility.
Space is limited and program reservations will be provided on a first-come, first-served basis. To participate in the program, customers must have an active Duke Energy Carolinas account and good payment history. Visit www.duke-energy.com/SCSharedSolar or contact us at 866.233.2290 for more information.
Growing solar in South Carolina
The Shared Solar Program is a result of the historic collaborative effort in South Carolina to grow solar generation and give customers choices as to how they live their energy future.
As a result of Act 236 – landmark legislation passed by South Carolina's General Assembly in 2014 – Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. More than 6,000 of the company's South Carolina customers have installed solar panels on their homes and businesses, and in since 2015, South Carolina has the second most installed residential solar capacity in the Southeast, more than either Georgia or North Carolina.
Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.
Duke Energy has also proposed a new program to expand renewable energy options for its commercial and industrial customers in South Carolina. The proposed Green Source Advantage program will provide large nonresidential customers the option to secure significant amounts of solar or other renewable energy to satisfy their sustainability or other clean energy goals.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Carolinas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/7/20191/29/2019 - Duke Energy offers tips for how Ohio and Kentucky customers can stay warm, save money and conserve energy
Duke Energy offers tips for how Ohio and Kentucky customers can stay warm, save money and conserve energy
Source: PR Newswire
CINCINNATI, Jan. 29, 2019 /PRNewswire/ -- With weather forecasters predicting near-zero temperatures and below-zero wind chills in Ohio and Kentucky this week, Duke Energy has tips to keep energy costs under control while keeping you and your family warm.
To avoid a high-bill surprise, you can monitor and manage your energy use, even when temperatures drop for extended periods. Here are some things you can do to keep tabs on your energy use:
3 tips for understanding your bill
9 ways to avoid billing surprises
Billing and payment assistance
For customers who are unable to commit to specific dates for payments, Duke Energy partners with local assistance agencies that distribute funds to individuals in need. Each state has specific programs and eligibility requirements. Learn more by visiting duke-energy.com/home/billing/special-assistance.
Budget Billing
Customers who have more than 12 months of usage history at their current residence may qualify for Budget Billing, a free program that gives customers the option of levelized monthly payments.
Budget Billing is ideal for customers who are unable to pay a large bill now, but can afford to pay the average amount.
Deferred payments
In the event a customer is unable to pay a past-due bill, Duke Energy's customer service specialists are available to discuss the situation and provide assistance to meet the customer's specific needs. Specialists are available by calling 800.544.6900 Monday through Friday from 7 a.m. to 7 p.m. ET.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
704.287.6150 | @DE_LeeF
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/29/2019After busy 2018, Duke Energy plans to deliver more solar power to customers in 2019
Source: PR Newswire
CHARLOTTE, N.C., Jan. 29, 2019 /PRNewswire/ -- With the start of the new year, Duke Energy is building on the success of popular solar power programs to help more customers go solar across the Carolinas.
"Combined with constructive legislation, our programs have solar energy growing in both North Carolina and South Carolina," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "The response from customers has been strong. We expect demand and adoption to grow further as we roll out additional solar programs."
Rebates
The company's $62 million solar rebate program for residential, commercial and nonprofit customers in North Carolina helped 1,700 North Carolina customers go solar last year, hitting capacity limits for both residential and nonresidential customers.
Demand has been so strong from residential customers that the rebate allotment has already been met for 2019. The company will continue offering these rebates over the next three years.
"The rebate program was a great incentive for us to install a 32-kilowatt solar system on our church in 2018," said Rev. Stephanie Allen of Church of the Nativity in Raleigh. "As a faith community, we seek to be good stewards of our resources – both financial and environmental. Duke Energy's rebate program helped us with both."
In South Carolina, the company is in the latter stages of a $50 million solar rebate program that was launched in October 2015. Since that time, the company has added nearly 7,000 private solar customers in the state. South Carolina now ranks No. 2 in the Southeast for rooftop solar connected.
Large solar projects
In 2018, Duke Energy connected more than 500 megawatts (MW) of solar energy capacity to the Carolinas' system. Over the past four years, Duke Energy has connected more than 2,500 MW to its grid in the Carolinas, enough to power about half million homes at peak output. This has made North Carolina No. 2 in the nation for overall solar power capacity.
Recently, Duke Energy brought online the Woodleaf Solar Facility in Rowan County, N.C. The 6-MW facility is comprised of 30,000 solar panels on a 116-acre site. The solar plant has an innovative tracking system that allows the panels to pivot throughout the day to capture the maximum amount of sunshine. At peak output, the solar plant can power more than 1,000 homes.
The future looks bright for other large-scale solar projects. Duke Energy launched a competitive bidding process for new solar capacity last year. The process, being overseen by an independent administrator, seeks to add 680 MW of new solar capacity in 2019 – enough to power about 125,000 homes at peak output. This will ensure the best and most cost-effective projects are built to benefit customers in the Carolinas.
A total of 78 projects bid 3,900 MW of solar capacity in the first tranche – with all projects offering energy prices below the company's avoided cost. Projects can be built in both states. Winners will be selected later this year.
Other solar programs
In 2018, Duke Energy became one of the few companies in the Carolinas to offer solar leasing to commercial customers. A subsidiary of Duke Energy will build, own and operate onsite solar facilities that will allow customers in North Carolina and South Carolina to access renewable energy without paying a large upfront investment.
The company also launched its Shared Solar program, with a 7-MW solar facility in Dillon County, SC. Customers who subscribe to solar energy through the Shared Solar program, will receive a monthly bill credit for the value of the energy produced by their subscription size in the facility. The program also has a component for low-income customers.
For industrial customers, the company is waiting on approval for its Green Source Advantage program in both states, which will allow customers to secure renewable energy to meet sustainability and renewable energy goals. This "green tariff" provides customers the flexibility to negotiate directly with solar developers to add more renewable energy to the grid, with no cost to other customer classes.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
1/29/2019Duke Energy Indiana offers cold weather energy-saving and money-saving tips
Source: PR Newswire
PLAINFIELD, Ind., Jan. 28, 2019 /PRNewswire/ -- With Indiana weather forecasters predicting near-zero temperatures and below-zero wind chills, Duke Energy has tips to keep energy costs under control while keeping you and your family warm.
To avoid a high-bill surprise, you can monitor and manage your energy use, even when temperatures drop for extended periods. Here are some things you can do to keep tabs on your energy use:
3 tips for understanding your bill
7 ways to avoid billing surprises
Billing / Payment Assistance Programs
For customers who are unable to commit to specific dates for payments, Duke Energy partners with local assistance agencies across our service areas, who distribute funds to individuals in need. Each state has specific programs and eligibility requirements. See the links below for what's available in Indiana:
Budget Billing / Equal Payment Plans
Customers who have more than 12-months of usage history at their current residence may qualify for one of our billing and payment plans that gives customers the option of levelized monthly payments.
These billing plans are ideal for customers who are unable to pay a large bill now, but can afford to pay the average amount. Please visit the link below to enroll and learn more.
Deferred Payments
In the event a customer is unable to pay a past due bill, Duke Energy's customer service specialists are available to discuss a customer's situation and provide assistance to meet the customer's specific needs.
Residential customer service specialists are available Monday - Friday 7 a.m. to 7 p.m. EST in Indiana. Contact information is below:
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy: (NYSE: DUK).
Contact: Lew Middleton | 317.838.1505
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/28/20191/22/2019 - Duke Energy Ohio and its customers donate $311,000 to the Salvation Army for 2019 HeatShare Program
Duke Energy Ohio and its customers donate $311,000 to the Salvation Army for 2019 HeatShare Program
Source: PR Newswire
CINCINNATI, Jan. 22, 2019 /PRNewswire/ -- The Salvation Army received $311,000 from Duke Energy Ohio for the 2019 HeatShare program. The Salvation Army administers the donations made to the program, in collaboration with Duke Energy Ohio, to provide people in need with financial assistance with their utility bills.
The HeatShare program is available to eligible Duke Energy customers in southwest Ohio and provides heating bill assistance from January 22 to April 30, 2019, or until all funds have been used. If funds are available after April 30, they may be used for summer bill assistance until depleted. People in need of assistance may call The Salvation Army HeatShare line at 513.762.5636 to schedule an appointment or to receive more information.
"Through the continued generosity of our customers and employees, along with Duke Energy matching funds, HeatShare has been a vital program in Ohio for three decades, helping customers in need," said Cindy Givens, program manager at Duke Energy. "We're proud to partner once again with the Salvation Army to help those who are struggling to stay warm this winter."
HeatShare was established in 1986 to assist Ohio residents in need with winter heating bills and is funded by Duke Energy customers, employees and shareholders. In 2018, The Salvation Army received a total of $310,000 to help keep 504 families across southwest Ohio warm. The Salvation Army received $100,000 from Duke Energy Ohio in addition to $210,000 in customer contributions and matching funds for the HeatShare program. More than 19,000 Duke Energy Ohio customers voluntarily added a HeatShare contribution to their monthly bill. Additional information about the program can be found on the Duke Energy Ohio website.
About The Salvation Army
The Salvation Army, an evangelical part of the universal Christian church, has been supporting those in need in His name without discrimination since 1865. Nearly 33 million Americans receive assistance from The Salvation Army each year through the broadest array of social services that range from providing food for the hungry, relief for disaster victims, assistance for the disabled, outreach to the elderly and ill, clothing and shelter to the homeless and opportunities for underprivileged children. About 82 cents of every dollar raised is used to support those services in nearly 9,000 communities nationwide. For more information, please visit salvationarmycincinnati.org.
About Duke Energy
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy Contact: Sally Thelen
Office: 513.287.2432
24-Hour Media Line: 800.559.3853
The Salvation Army Contact: Julie Budden
Office: 513.762.5600
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SOURCE Duke Energy
Article Date
1/22/20191/22/2019 - Duke Energy named one of Fortune's "World's Most Admired Companies" for second consecutive year
Duke Energy named one of Fortune's "World's Most Admired Companies" for second consecutive year
Source: PR Newswire
CHARLOTTE, N.C., Jan. 22, 2019 /PRNewswire/ -- Duke Energy (NYSE: DUK) has been named to Fortune magazine's 2019 list of the World's Most Admired Companies for the second year in a row. Duke Energy was ranked 5th among gas and electric utilities.
"Our people are working hard to enhance the customer experience, reduce carbon emissions and modernize the grid while keeping power reliable and affordable," said Lynn Good, Duke Energy's chairman, president and CEO. "We're delivering on our commitments to customers, communities, investors and employees."
In determining the industry rankings, approximately 3,750 executives, directors and industry analysts are independently surveyed and companies are rated on nine attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products/services and global competitiveness.
Recent company performance highlights
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
1/22/20191/18/2019 - Snow doubt about it: Duke Energy preparing for winter storm in Indiana; urges customers to do the same
Snow doubt about it: Duke Energy preparing for winter storm in Indiana; urges customers to do the same
Source: PR Newswire
PLAINFIELD, Ind., Jan. 18, 2019 /PRNewswire/ -- Like many Midwesterners, Duke Energy continues to monitor and prepare for a winter storm that has the potential to cause power outages across the company's 69-county Indiana service area.
Related: B-roll video of storm prep and winter storm power restoration efforts
"This storm will be different compared to the system that blanketed the Midwest with snow last weekend," said Duke Energy Meteorologist Curt Grimoskas. "This one is distinctive because it has the potential to bring a combination of snow, sleet, rain, freezing rain, very gusty winds and cold temperatures."
Related: High-resolution photos of winter storm power restoration work
Snow on its own typically has little to no impact on the electric system. However, heavy wet snow accumulation, freezing rain and high winds can bring down trees, limbs and power lines. These types of winter storms can also create hazardous driving conditions, which could delay and impede Duke Energy workers' abilities to assess storm damage and restore power.
Duke Energy workers preparing for and tracking storm
Ahead of this weekend's storm, Duke Energy line technicians and other workers continue to inspect equipment, check supplies and restock inventories to ensure adequate materials are available to make repairs and restore power outages. In addition, Duke Energy meteorologists are continually tracking the storm's path and intensity, and updating forecast models, which influence how the company mobilizes its workers and other resources.
Related: How Duke Energy restores power following a storm
Duke Energy has more than 500 line technicians, service crews and other storm personnel available across the company's Indiana service region to respond to power outages once conditions are safe. Depending on the impact of the storm, Duke Energy can bring in additional workers from its Southeast utilities and/or activate mutual aid agreements to enlist help from other utilities across the U.S.
Safety reminders
Ahead of this winter storm, Duke Energy urges customers to make plans to move family members – especially those with special needs – to safe, alternative locations in the event of an extended power outage. The company also advises customers to be prepared and stay safe, and to encourage their family members, friends and neighbors to do the same.
"We can't stress enough the need for customers to be prepared for this storm and to be ready to move family members and neighbors – especially those who may be more vulnerable during a loss of power – to safe, alternative locations," said Stan Pinegar, Duke Energy Indiana state president.
Here are ways customers can be prepared and stay safe before, during and after a storm:
Reporting outages
Customers who experience outages during the storm have multiple ways to report them:
Duke Energy will also provide updates on its social media channels to keep customers informed if significant outages occur:
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,700 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy Indiana is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton | 317.838.1505 office
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/18/2019Duke Energy preparing for winter storm in the tri-state; urges customers to do the same
Source: PR Newswire
CINCINNATI, Jan. 18, 2019 /PRNewswire/ -- Like many Midwesterners, Duke Energy continues to monitor and prepare for a winter storm that has the potential to cause power outages across the company's Ohio and Kentucky service regions.
Related: B-roll video of storm prep and winter storm power restoration efforts
"This storm will be different compared to the system that blanketed the Midwest with snow last weekend," said Duke Energy Meteorologist Curt Grimoskas. "This one is distinctive because it has the potential to bring a combination of snow, sleet, rain, freezing rain, very gusty winds and cold temperatures."
Related: High-resolution photos of winter storm power restoration work
Snow on its own typically has little to no impact on the electric system. However, heavy wet snow accumulation, freezing rain and high winds can bring down trees, limbs and power lines. These types of winter storms can also create hazardous driving conditions, which could delay or impede Duke Energy workers' abilities to assess storm damage and restore power.
Duke Energy workers preparing for and tracking storm
Ahead of this weekend's storm, Duke Energy line technicians and other workers continue to inspect equipment, check supplies and restock inventories to ensure adequate materials are available to make repairs and restore power outages. In addition, Duke Energy meteorologists are continually tracking the storm's path and intensity, and updating forecast models, which influence how the company mobilizes its workers and other resources.
Related: How Duke Energy restores power following a storm
Duke Energy has more than 500 line technicians, service crew workers and other storm personnel available across the company's Ohio and Kentucky service regions to respond to power outages once conditions are safe. Depending on the impact of the storm, Duke Energy can bring in additional workers from its Southeast utilities and/or activate mutual aid agreements to enlist help from other utilities across the U.S.
Bitter cold temperatures following the storm will make conditions even worse in the event of outages.
"We can't stress enough the need for customers to be prepared for the storm and to be ready to move family members and neighbors – especially those who may be more vulnerable during a loss of power – to safe, alternative locations," said Amy Spiller, president, Duke Energy Ohio and Kentucky.
Safety reminders
Here are ways customers can be prepared and stay safe before, during and after a storm:
Reporting outages
Customers who experience outages during the storm have multiple ways to report them:
Duke Energy will also provide updates on its social media channels to keep customers informed if significant outages occur:
Duke Energy natural gas customers in Ohio and Kentucky can always call 800.634.4300 to report natural gas outages or other issues. Any customer who suspects a gas leak should always evacuate the area before calling.
Duke Energy Ohio and Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Sally Thelen
513.287.2432
24-Hour: 800.559.3853
@DE_SallyT
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SOURCE Duke Energy
Article Date
1/18/20191/17/2019 - Duke Energy Florida to give away 2,500 free trees to customers to honor Florida Arbor Day
Duke Energy Florida to give away 2,500 free trees to customers to honor Florida Arbor Day
Source: PR Newswire
ST. PETERSBURG, Fla., Jan. 17, 2019 /PRNewswire/ -- Duke Energy Florida, in partnership with the Arbor Day Foundation's Energy-Saving Trees program, is giving away 2,500 free trees to its customers to honor Florida Arbor Day on Friday (Jan. 18).
Duke Energy customers statewide can request a free tree, in a one-gallon pot, online at arborday.org/dukeenergy starting Friday and continuing until all trees are distributed.
The website enables a customer to insert his or her address and select the location on the property where the tree will be planted. The website will then recommend which of the available tree species is best suited for that region.
It will also specify the planting location on the customer's property that will provide the most energy-saving benefits for the home.
The tree is then shipped directly to the customer's home in a box with planting and care instructions. The trees are expected to be delivered in time for National Arbor Day, April 26, 2019.
Available tree species include the Eastern Redbud, Crape myrtle, Dahoon Holly, Florida Maple, Red Bottlebrush and Pineapple Pear.
Duke Energy Florida is investing $100,000 to purchase the trees and has partnered with the Arbor Day Foundation to distribute them.
Duke Energy has participated in the program for three consecutive years. Since 2017, the company has given away more than 5,000 trees to customers throughout the state.
"Trees help conserve energy, they are beautiful additions to any yard, and they provide much-appreciated shade in the Sunshine State," said Catherine Stempien, Duke Energy Florida president. "We help customers plant the right tree in the right place so we can continue to provide safe and reliable energy. Our ongoing Energy-Saving Trees partnership, along with our recognition as a 'Tree Line USA' utility for 13 consecutive years, exemplifies our commitment to our customers and the environment."
The Arbor Day Foundation's Energy-Saving Trees and Tree Line USA programs demonstrate how trees and utilities can co-exist for the benefit of communities and citizens by highlighting best management practices in public and private utility arboriculture.
Tree Line USA evaluates applicants, such as Duke Energy, based on several criteria, including their adherence to industry best practices for tree care, training of employees and contractors, implementation of public education and tree-planting projects, and participation in annual Arbor Day events. Duke Energy Florida has been recognized for its tree management practices for 13 consecutive years.
For information about planning and planting vegetation around electrical facilities, please visit Duke Energy's Plan Before You Plant website.
According to the Florida Forest Service, Florida has one of the oldest Arbor Day celebrations in the nation, having held the statewide event on the third Friday in January every year since 1886.
Meanwhile, National Arbor Day has been observed since 1872 on the last Friday in April.
Both state and national Arbor Day activities promote the benefits of trees in urban environments and encourage tree planting and care.
For additional information, customers can visit arborday.org/dukeenergy.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
1/17/2019Duke Energy earns EEI's 'Emergency Recovery Award' for power restoration efforts in Carolinas after Hurricane Florence
Source: PR Newswire
CHARLOTTE, N.C., Jan. 11, 2019 /PRNewswire/ -- Duke Energy has received the Edison Electric Institute's (EEI) "Emergency Recovery Award" for the company's outstanding power restoration efforts after Hurricane Florence hit North Carolina and South Carolina in September 2018.
The Emergency Recovery Award is given to select EEI member companies to recognize their extraordinary efforts to restore power to customers after service disruptions caused by severe weather conditions or other natural events.
The winners are chosen by a panel of judges following an international nomination process. Duke Energy received the award this week during EEI's Winter Board and Chief Executives Meeting in Palm Beach, Fla.
"Hurricane Florence caused historic flooding along the Carolinas' coastal communities and more than 1.8 million of our customers lost power," said Harry Sideris, Duke Energy senior vice president and chief distribution officer.
"While flooding presented some unique challenges to our restoration efforts, we were able to restore power to nearly 1.2 million customers in the first three days after the storm made landfall. We are forever grateful for our customers' patience and kindness during that time, and for our government partners and the dozens of utilities who worked alongside us to restore power and normalcy to our communities," Sideris said.
"The dedication of Duke Energy's crews to restore service throughout the Carolinas after Hurricane Florence illustrates our industry's commitment to customers," said EEI President Tom Kuhn. "Duke Energy's crews worked tirelessly in hazardous conditions to quickly and safely restore power. They are truly deserving of this award."
Duke Energy continues to learn from and improve its performance after every storm.
For example, after Hurricane Irma in 2017, the company developed a way to use geographic information system (GIS) technology to monitor changing road conditions to help crews reach power outage locations safely and quickly. (See related story: https://illumination.duke-energy.com/articles/this-technology-helped-crews-improve-hurricane-response)
The company also has improved communication with customers after major storms, updating them with proactive text messages and emails.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials.
Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About EEI
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, and operate in all 50 states and the District of Columbia. As a whole, the electric power industry supports more than 7 million jobs in communities across the United States. In addition to our U.S. members, EEI has more than 65 international electric companies as International Members, and hundreds of industry suppliers and related organizations as Associate Members.
Contact: Paige Layne
24-Hour: 800.559.3853
Twitter - @DE_PaigeL
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SOURCE Duke Energy
Article Date
1/11/2019Piedmont Natural Gas reminds its communities in the Carolinas and Tennessee that help is available for people in need
Source: PR Newswire
CHARLOTTE, N.C., Jan. 10, 2019 /PRNewswire/ -- With returning cold temperatures and potential negative impacts from the ongoing federal government shutdown, Piedmont Natural Gas is reminding its customers and communities of programs for people who need assistance paying their energy bills.
"Higher energy bills this time of year can make financial hardships even more stressful for individuals and families who already struggle to make ends meet," said Barbara Ashford, director of community relations for Piedmont Natural Gas. "And now with some federal government workers facing uncertainty about when to expect their next paycheck, temporary assistance could be just a phone call away.
"Piedmont Natural Gas customers can take advantage of our Equal Payment Plan or may even be eligible for a temporary payment arrangement. Others who need help paying their energy bills, including people who are not Piedmont customers, may qualify for temporary assistance from our Share the Warmth program."
Share the Warmth Roundup
Since 2003, Piedmont Natural Gas, its customers and the Piedmont Natural Gas Foundation have donated nearly $3.5 million to Share the Warmth – an energy assistance program that helps individuals and families pay their monthly energy bills. People in need do not have to use natural gas or even be a Piedmont Natural Gas customer to qualify for assistance.
Share the Warmth funds are distributed through Piedmont's partner agencies, which are listed below. Call or visit the appropriate agency to inquire about eligibility:
Equal Payment Plan (EPP)
Piedmont's Equal Payment Plan helps eligible customers manage their energy costs by allowing them to pay an estimated, equal monthly bill amount. Piedmont estimates a customer's total annual natural gas usage and then spreads the payments as evenly as possible across a specific period of time. Since EPP customers know what their bill amount will be each month, they avoid receiving unexpected higher bills during colder months when natural gas usage is greater.
To learn more or to enroll, visit:
Payment Arrangements
For customers having trouble paying their Piedmont Natural Gas bill, customer service representatives are available Monday through Friday 7:30 a.m. to 7 p.m. Eastern time to review accounts and discuss options that may include a payment arrangement.
For more information or to see if they qualify for a payment arrangement, customers should contact Piedmont's customer service department via either method below:
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Piedmont Natural Gas
Corporate Communications
877.348.3612
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SOURCE Piedmont Natural Gas
Article Date
1/10/2019Duke Energy energized Florida communities with more than $3 million in grants, 20,000 volunteer hours in 2018
Source: PR Newswire
ST. PETERSBURG, Fla., Jan. 10, 2019 /PRNewswire/ -- Duke Energy is energizing its Florida communities with more than power. In 2018, the company invested more than $3 million in Sunshine State nonprofit organizations. In addition, company employees volunteered more than 20,000 hours of their time through multiple nonprofit projects.
The grants were awarded by the Duke Energy Foundation, which provides philanthropic support to meet critical community needs through its Powerful Communities program. The program funds community impact initiatives focused on K-12 education, nature, workforce and economic development.
"Philanthropic giving and volunteerism are part of our DNA at Duke Energy and we're proud to support organizations in our backyard," said Catherine Stempien, Duke Energy Florida president. "Our Foundation funds organizations that provide vital services and strengthen our neighborhoods. Simultaneously, Duke Energy Florida employees – in addition to serving our customers daily by providing and restoring critical energy services – also give generously and compassionately by volunteering throughout the year in the same communities in which they work and live."
Florida's 2018 grant recipients included organizations from across the state: United Arts of Central Florida, Franklin's Promise Coalition, Bok Tower Gardens, Audubon Center for Birds of Prey, Orlando Science Center, 29 education foundations supporting schools and dozens of others.
Funded programs provided science, technology, engineering and math (STEM)-focused after-school classes for underserved elementary and middle school students; supported access to arts and culture for low-income and underserved communities; and focused on conservation initiatives.
The company also partnered with the Tampa Bay Rays on its Victories for Veterans program for the third consecutive year, donating $90,000 through the Duke Energy Foundation to charities that support veterans across the state.
The Duke Energy Foundation also responded to emergent needs that arose in 2018, including $250,000 to assist communities, customers and neighbors impacted by Hurricane Michael. The funds were distributed through 20 state, regional and city governments and organizations, including Volunteer Florida, Franklin's Promise Coalition, Hillside Laborers, Mexico Beach First Baptist Church, Christian Community Development Funds and Coastal Song Writers.
The foundation also contributed $25,000 to assist displaced families during north Florida's Eastpoint wildfire rebuilding efforts in June.
"Duke Energy's continued funding for United Arts' Diversity Grants and Diversity Initiatives has been hugely impactful in the central Florida cultural sector, making the arts accessible to all in our community," said Flora Maria Garcia, president and CEO of United Arts of Central Florida. "This funding has significantly moved the needle across Lake, Osceola, Orange and Seminole counties by encouraging cultural organizations to create exciting, innovative and culturally diverse programming that appeals to diverse audiences."
Employee Volunteerism
While Duke Energy's financial support solidifies its commitment to the communities it serves, Florida employees have also rolled up their sleeves to help their neighbors. Last year, employees volunteered more than 20,000 hours in their communities.
During Duke Energy In Action Month in May 2018, more than 975 Florida employees volunteered over 5,000 hours in 62 events across the state. A wrap-up video is available here. https://www.youtube.com/watch?v=RMwcHboEnyQ
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
1/10/2019Duke Energy programs available to help manage energy bills in Indiana
Source: PR Newswire
PLAINFIELD, Ind., Jan. 9, 2019 /PRNewswire/ -- Duke Energy today reiterated that help managing energy bills is available for any customer who may be experiencing financial hardship, including workers affected by the federal government shutdown, which is moving into its third week.
"While the government shutdown is a very visible issue now, we recognize that unforeseen hardships can happen to anyone at any time," said Lesley Quick, Duke Energy's vice president of revenue services. "To assist our customers who are having difficulties paying their bills, we have long offered programs and assistance agencies to help."
Billing / Payment Assistance Programs
For customers who are unable to commit to specific dates for payments, Duke Energy partners with local assistance agencies across our service areas, who distribute funds to individuals in need. Each state has specific programs and eligibility requirements. See the links below for what's available in Indiana:
Budget Billing / Equal Payment Plans
Customers who have more than 12-months of usage history at their current residence may qualify for one of our billing and payment plans that gives customers the option of levelized monthly payments.
These billing plans are ideal for customers who are unable to pay a large bill now, but can afford to pay the average amount. Please visit the link below to enroll and learn more.
Deferred Payments
In the event a customer is unable to pay a past due bill, Duke Energy's customer service specialists are available to discuss a customer's situation and provide assistance to meet the customer's specific needs.
Residential customer service specialists are available Monday - Friday 7 a.m. to 7 p.m. EST in Indiana. Contact information is below:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton | 317.838.1505
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/9/2019Duke Energy programs available to help manage energy bills in Ohio and Kentucky
Source: PR Newswire
CINCINNATI, Jan. 9, 2019 /PRNewswire/ -- Duke Energy today reiterated that help managing energy bills is available for any customer who may be experiencing financial hardship, including workers affected by the federal government shutdown, which is moving into its third week.
"While the government shutdown is a very visible issue now, we recognize that unforeseen hardships can happen to anyone at any time," said Lesley Quick, Duke Energy's vice president of revenue services. "To assist our customers who are having difficulties paying their bills, we have long offered programs and provided funding to local assistance agencies that can help."
Billing and payment assistance programs
For customers who are unable to commit to specific dates for payments, Duke Energy partners with local assistance agencies that distribute funds to individuals in need. Each state has specific programs and eligibility requirements.
Budget Billing
Customers who have more than 12 months of usage history at their current residence may qualify for Budget Billing, a free program that gives customers the option of levelized monthly payments.
Budget Billing is ideal for customers who are unable to pay a large bill now, but can afford to pay the average amount.
Deferred payments
In the event a customer is unable to pay a past-due bill, Duke Energy's customer service specialists are available to discuss the situation and provide assistance to meet the customer's specific needs. Specialists are available by calling 800.544.6900 Monday through Friday from 7 a.m. to 7 p.m. ET.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
704.287.6150 | @DE_LeeF
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/9/2019Duke Energy programs available to help manage energy bills in Florida
Source: PR Newswire
ST. PETERSBURG, Fla., Jan. 9, 2019 /PRNewswire/ -- Duke Energy today reiterated that help managing energy bills is available for any customer who may be experiencing financial hardship, including workers affected by the federal government shutdown, which is moving into its third week.
"While the government shutdown is a very visible issue now, we recognize that unforeseen hardships can happen to anyone at any time," said Lesley Quick, Duke Energy's vice president of revenue services. "To assist our customers who are having difficulties paying their bills, we have long offered programs and assistance agencies to help.
Billing / Payment Assistance Programs
For customers who are unable to commit to specific dates for payments, Duke Energy partners with local assistance agencies across our service areas, who distribute funds to individuals in need. Each state has specific programs and eligibility requirements. See the links below for what's available in Florida:
Budget Billing / Equal Payment Plans
Customers who have more than 12-months of usage history at their current residence may qualify for one of our billing and payment plans that gives customers the option of levelized monthly payments.
These billing plans are ideal for customers who are unable to pay a large bill now, but can afford to pay the average amount. Please visit the link below to enroll and learn more.
Deferred Payments
In the event a customer is unable to pay a past due bill, Duke Energy's customer service specialists are available to discuss a customer's situation and provide assistance to meet the customer's specific needs.
Residential Customer Service Specialists are available Monday - Friday 7 a.m. to 9 p.m. EST in Florida. Contact information is below:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Corporate Communications
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/9/2019Duke Energy programs available to help manage energy bills
Source: PR Newswire
CHARLOTTE, N.C., Jan. 9, 2019 /PRNewswire/ -- Duke Energy today reiterated that help managing energy bills is available for any customer who may be experiencing financial hardship, including workers affected by the federal government shutdown, which is moving into its third week.
"While the government shutdown is a very visible issue now, we recognize that unforeseen hardships can happen to anyone at any time," said Lesley Quick, Duke Energy's vice president of revenue services. "To assist our customers who are having difficulties paying their bills, we have long offered programs and assistance agencies to help.
Billing / Payment Assistance Programs
For customers who are unable to commit to specific dates for payments, Duke Energy partners with local assistance agencies across our service areas, who distribute funds to individuals in need. Each state has specific programs and eligibility requirements. See the links below for what's available in each state:
Budget Billing / Equal Payment Plans
Customers who have more than 12-months of usage history at their current residence may qualify for one of our billing and payment plans that gives customers the option of levelized monthly payments.
These billing plans are ideal for customers who are unable to pay a large bill now, but can afford to pay the average amount. Please visit the link below to enroll and learn more.
Deferred Payments
In the event a customer is unable to pay a past due bill, Duke Energy's customer service specialists are available to discuss a customer's situation and provide assistance to meet the customer's specific needs.
Residential Customer Service Specialists are available Monday - Friday 7 a.m. to 9 p.m. EST in North Carolina and South Carolina. Contact information is below:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials.
Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/9/2019Duke Energy to announce fourth quarter and year-end 2018 financial results on Feb. 14
Source: PR Newswire
CHARLOTTE, N.C., Jan. 8, 2019 /PRNewswire/ -- Duke Energy will announce its fourth-quarter and year-end 2018 financial results at 7 a.m. ET on Thursday, Feb. 14, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the fourth-quarter 2018 financial results. In addition, the company will provide its 2019 adjusted diluted earnings per share guidance range and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (duke-energy.com/investors) of Duke Energy's website or by dialing 888-254-3590 in the U.S. or 323-994-2093 outside the U.S. The confirmation code is 9977760. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1:30 p.m. ET, Feb. 24, 2019, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 9977760. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
1/8/2019Duke Energy protects Carolinas' waterways with $800,000 in grants
Source: PR Newswire
CHARLOTTE, N.C., Jan. 8, 2019 /PRNewswire/ -- Eleven organizations spanning 58 counties in North Carolina and South Carolina will receive more than $800,000 in new grants from Duke Energy's Water Resources Fund to support environmental and wildlife programs.
The fund is a $10-million multiyear commitment from Duke Energy to help local organizations continue to protect and improve the environment, including waterways used year-round across the Carolinas and neighboring states. To date, the fund has invested more than $9 million to support 113 projects to protect natural resources, including more than $1.5 million in the Dan River Basin.
"Our region is home to some of the nation's most beautiful and treasured waterways," said Stephen De May, Duke Energy's North Carolina president. "We are proud to support the water stewards in our communities who are implementing innovative projects that protect our natural resources."
"Water is life. The Great Coharie River Initiative is committed to be responsible stewards of our many waterways here in Sampson County," said Greg Jacobs, tribal administrator for Coharie Intra-Tribal Council, Inc. "We desire that our present and future generations be afforded the same quality of life as our ancestors enjoyed in the Great Outdoors. We understand that our Rivers have always provided healing medicine for all who will partake."
"Water is a shared natural resource that connects us all," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "These grants are supporting projects that will benefit our communities now and for many years to come."
"We are grateful for Duke Energy's leadership in and commitment to keeping Carolina waterways clean through their Water Resources Fund," says Mark Robertson, state director for The Nature Conservancy in South Carolina. "This grant will help us make critical improvements to Vaughn's Creek in our Blue Wall Preserve, which provides clean, clear drinking water to Landrum, S.C."
Grants are selected by an independent panel with diverse environmental expertise. The panel includes five external members and two Duke Energy representatives. View an interactive map showcasing all 113 grantees at duke-energy.com/H2O.
Additional details on the grants follow:
North Carolina
Coharie Intra-Tribal Council Inc. (NC) The Great Coharie River Initiative – $82,150 to restore environmental, educational and cultural significance to Native American communities by enriching water quality and public access.
North Carolina Coastal Land Trust (NC) Salter's Creek Landing Project – $100,000 to purchase 5,500 acres of ecologically significant land, including 11 miles of "Down East" scenic waterfront for recreation.
North Carolina State University (NC) Ecosystem Services Provided by Freshwater Mussels: Impacts on Water Quality and Public Awareness – $70,408 to quantify mussels' pollutant removal and educate the public about conservation issues.
The Nature Conservancy, North Carolina Chapter (NC) Evans Easement Project on the Black River – $100,000 to purchase a conservation easement over 89 acres of floodplain forest and riparian buffer along the Black River.
Town of Mesic (NC) Town of Mesic Public Water Access Project – $50,000 to provide picnic and fishing areas, kayak/watercraft launching infrastructure and space for community gatherings along Vandemere Creek.
University of North Carolina at Chapel Hill (NC) New River Estuary Oyster Highway – $100,000 to increase the oyster population and enhance habitat and water quality-related services in the New River Estuary.
Wilmington Children's Museum, Inc (NC) Explore Water – It's Quality, Quantity, and Conservation – $19,000 for a water table exhibit, educating visitors about the water cycle and importance of treating and reclaiming water.
Yadkin-Pee Dee Water Management Group (NC) Dills – Yadkin-Pee Dee River Basin Long-Term Water Resources Planning – $100,000 to support developing the river basin's Long-Range Water Supply Master Plan.
South Carolina
Catawba-Wateree Water Management Group (SC and NC) – Basin-wide Water Loss Management Program – $100,000 to implement best-management practices for water loss control among CWWMG's 19 distribution systems.
The Nature Conservancy of South Carolina (SC) Improving Water Quality at Blue Wall Preserve – $35,000 for abatement of water quality threats to Vaughn's Creek, Landrum City's primary drinking water source.
Tyger Watershed & Quality of Life Fund #2019 (SC) Tyger Blueways Coalition Project 5: ADA Docks at Lake Cooley & Tygerberry Landing – $65,000 for two ADA accessible docks so all people can access the water, participate in environmental education and paddling programs.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
Office: 980.373.6408 | 24-Hour: 800.559.3853
Twitter - @CandiceKnez
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SOURCE Duke Energy
Article Date
1/8/2019Duke Energy's Hamilton Solar Power Plant opens in Florida, providing more carbon-free energy for Sunshine State customers
Source: PR Newswire
ST. PETERSBURG, Fla., Jan. 8, 2019 /PRNewswire/ -- Duke Energy today announced the completion and operation of its new 74.9-megawatt (MW) Hamilton Solar Power Plant in Jasper, Fla.
The plant's carbon-free power is enough to energize more than 20,000 homes at peak production.
Across Duke Energy's Florida service territory, the company's 1.8 million customers — and the environment — are now benefiting from approximately 300,000 solar panels that generate clean, renewable energy. Drone video is available at this link — https://vimeo.com/302760836/f31b89f040.
"Duke Energy solar projects bring the greatest amount of renewable energy on line for customers in the most efficient and economical way," said Catherine Stempien, Duke Energy Florida (DEF) state president. "Building solar power plants like Hamilton is part of our ongoing strategy to offer sustainable, diverse and smarter energy solutions that our customers have told us they value."
The Hamilton plant is part of the company's strategic commitment to install or acquire 700 MW of solar energy in Florida through 2022, helping ensure residents have increasingly clean and diverse power sources. DEF currently owns and operates nearly 100 MW of solar energy resources throughout its regulated service territory.
The company broke ground for the Hamilton plant in July 2018 and brought it online Dec. 22. The project, originally developed by Tradewind Energy Inc., was completed by Duke Energy.
Also in 2018, DEF announced plans to break ground in 2019 on the Columbia Solar Power Plant in Fort White, Fla. It will be developed by Core Solar. DEF will own, operate and maintain the 74.9-MW facility, which is expected to be fully operational in March 2020.
Together, the Hamilton and Columbia solar power plants are expected to eliminate approximately 645 million pounds of carbon dioxide emissions in Florida during their first year of commercial operation. That's the equivalent of taking 63,000 passenger cars off the road.
In addition to expanding its solar investments, Duke Energy is making strategic, targeted investments in battery storage technology, transportation electrification to support the growing U.S. adoption of electric vehicles, and a modernized power grid to deliver the diverse and reliable energy solutions customers want and need.
Renewables Service Center
In addition to building universal solar in the Sunshine State, DEF is helping more than 400 residential and business customers per month interconnect their private solar systems to the local electric grid.
The company established a renewables service center to make it easier for customers to interconnect. In the past five years, the number of customers who have interconnected their private solar in Florida increased by 750 percent. For more information call 866.233.2290.
Shared Solar Program
The Hamilton Solar Power Plant will be a part of the DEF's new Shared Solar Program, providing customers with the opportunity to support the development of clean energy and reduce their environmental footprint. The Shared Solar program makes it possible for everyone to participate in solar energy without installation on their property.
Customers can subscribe to blocks of clean energy coming from the Hamilton Solar Power Plant and three other participating solar power plants in Taylor, Suwannee and Osceola counties. Residential, commercial and industrial customers are eligible to participate. For more information on the Shared Solar program, visit duke-energy.com/FLSharedSolar or call 866.233.2290.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/8/2019Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
CHARLOTTE, N.C., Jan. 4, 2019 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.9275 per share payable on March 18, 2019, to shareholders of record at the close of business Feb. 15, 2019.
Duke Energy has paid a cash dividend for 93 consecutive years.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
1/4/2019Jim Rogers, former Duke Energy chairman and CEO, dies at age 71
Source: PR Newswire
CHARLOTTE, N.C., Dec. 18, 2018 /PRNewswire/ -- Jim Rogers, the iconic former chairman and chief executive officer of Duke Energy, died Monday in Louisville, Ky. He was 71.
"Our industry has lost one of its most influential and extraordinary leaders," said Lynn Good, chairman, president and CEO of Duke Energy. "I was fortunate to work alongside Jim and see his dynamic leadership skill up close. He was not afraid to tackle the hard questions with a personable style that brought people together for positive solutions. We will miss Jim but we will also long remember his accomplishments and his mission to light the world."
Rogers became president and CEO of Duke Energy following the merger between Duke Energy and Cinergy in 2006. Before the merger, he served as Cinergy's chairman and CEO for more than 11 years.
Prior to the formation of Cinergy, he served as chairman, president and CEO of PSI Energy from 1988 until 1994. He retired as Duke Energy CEO in 2013 – one year after the Duke Energy/Progress Energy merger made the company the largest electric utility in the nation.
During his tenure, Rogers led Duke Energy to focus on reducing greenhouse gas emissions and steered the company to more renewable energy, a focus that continues today. Duke Energy has reduced carbon emissions 31 percent since 2005 and has invested $7 billion in wind and solar facilities across the nation.
Born in Birmingham, Ala., Rogers spent most of his childhood in Danville, Ky. He earned his undergraduate and law degrees at University of Kentucky. Rogers worked as a reporter at Lexington Herald-Leader early in his career. He later served as a law clerk for the Supreme Court of Kentucky and held numerous legal positions in the government and private sectors.
Rogers was one of the first leaders in the energy industry to speak about the changes needed in the face of climate change. As CEO at Cinergy in 2003, he pushed the company's first Sustainability Report - and continued that publication after moving to Duke Energy.
Since leaving Duke Energy, he devoted much of his energy to the issue of how rural people in low-income nations can get access to clean, sustainable electricity. He frequently wrote and lectured on the topic. In 2015, he wrote the book "Lighting the World," which further explored the topic.
In 2014, he was inducted into the North Carolina Business Hall of Fame. In 2013, he was awarded the Edison Electric Institute's Distinguished Leadership Award for his 25 years of service and exemplary contributions to the electric utility industry. He was the 2013 recipient of the United States Energy Association Award, and was named the most influential person in the power generation industry by Power Engineering magazine and the energy industry's CEO of the Year by Platts.
He was the founding chairman of the Institute for Electric Efficiency, former co-chair of the Alliance to Save Energy and past co-chair of the National Action Plan for Energy Efficiency. In 2011, he was presented with the Ernst & Young Entrepreneur of the Year® Lifetime Achievement Award; and the Charlotte Regional Partnership Jerry Award. The Charlotte Business Journal also named him its Business Person of the Year for 2011.
Moving to Charlotte in 2006, Rogers became an important figure to the growth of the city. He was co-chair of the host committee for the Democratic National Convention, which was held in Charlotte in 2012. Queens University's science and health building in Charlotte – Rogers Hall – is named for him.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/18/2018Duke Energy provides update on progress to close coal ash basins
Source: PR Newswire
CHARLOTTE, N.C., Dec. 18, 2018 /PRNewswire/ -- Duke Energy today provided an update on the strong progress to permanently and safely close all the company's remaining coal ash basins.
The scope and scale of the company's work to close 56 basins at 21 plants continues to move forward. Highlights of the progress include:
Company responds to Southern Environmental Law Center
All utilities in the country are required to release information related to mandatory groundwater testing at their respective plants.
Information posted to the company's Coal Combustion Residuals rule compliance page shows that, in many cases, groundwater near the edges of ash basins does not meet federal standards, as expected. It is important to note that these are not drinking water well samples and the broader body of evidence tells us that drinking water around Duke Energy facilities remains well-protected from plant operations.
In a Dec. 18 news release, the Southern Environmental Law Center knowingly mischaracterizes yet another step in a comprehensive regulatory process to mislead the public. Despite the group's false claims, the company is in full compliance with the federal law.
The results the company posted are consistent with historic and ongoing sampling being conducted by the company and submitted to regulators over many years. The information is intended to help inform closure decisions, but Duke Energy has already made that commitment and the company is well down the path to safely closing all ash basins in ways that protect people and the environment.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/18/2018Duke Energy's solar rebates power private solar system growth in North Carolina
Source: PR Newswire
CHARLOTTE, N.C., Dec. 18, 2018 /PRNewswire/ -- Another wave of solar energy is expected Jan. 2 when the window opens for customers to apply for Duke Energy's solar rebate program. So far in 2018, more than 1,300 customers have installed systems and qualified for rebates.
The Duke Energy solar rebate program is one of many customer programs the company is implementing as part of the Competitive Energy Solutions for North Carolina law passed in 2017. The rebates have helped many residential and business customers take the solar leap.
"We are proud to make Birdsong the first Charlotte brewery to go solar," said Chris Goulet, president of Birdsong Brewery. "Partnering with Duke Energy and its solar rebate program made the project's economics even more attractive. The company's solar installation is a big step toward making our organization more sustainable."
North Carolina is No. 2 in the nation for solar power, including more than 8,000 Duke Energy customers in the state owning private solar systems. The company's rebate program launched this summer attracted so much interest that capacity for residential and non-residential customers was fully subscribed within weeks. There is still capacity for nonprofit customers in 2018.
More than $6 million has been distributed to customers in 2018, with additional rebates set to be paid later in the year as systems are connected. The program will run through 2022, with an estimated 7,500 customers expected to receive Duke Energy rebates for solar systems.
The company will soon begin accepting new applications from customers who want to participate:
Under the program, residential customers are eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW is eligible for a $4,800 rebate. Installed systems 10 kW or greater are eligible for a maximum rebate of $6,000.
Nonresidential customers are eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) are eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
12/18/2018Duke Energy provides $600,000 in winter assistance funds in Indiana
Source: PR Newswire
PLAINFIELD, Ind., Dec. 17, 2018 /PRNewswire/ -- It's been a cold start to the winter season, and Duke Energy is once again assisting qualifying customers who may struggle to pay their winter energy bills.
The company is contributing $500,000 for low-income customer energy assistance through its Helping Hand program.
In addition, Duke Energy Indiana customers and employees have contributed about $93,000 through November, raising this year's total to almost $600,000.
"Each year our shareholders and customers contribute to help families and individuals who may be struggling to pay their winter energy bills," said Duke Energy Indiana President Stan Pinegar. "Last year, we were able to help approximately 4,340 Hoosiers who needed assistance paying their electricity bills."
Duke Energy works with the Indiana Community Action Association and the Indiana Housing and Community Development Authority's Energy Assistance Program, which determines eligibility and distributes the company's assistance funds.
For more information on how to cut costs and stay warm this winter, visit duke-energy.com/home/savings/winter-heating-energy-savings. Duke Energy also offers energy efficiency products, services and information to help customers save energy and money. For more information, visit duke-energy.com.
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,700 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy Indiana is a subsidiary of Duke Energy (NYSE: DUK).
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/17/2018Duke Energy board appoints Annette Clayton as board member
Source: PR Newswire
CHARLOTTE, N.C., Dec. 13, 2018 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of Annette Clayton – CEO and president of North America Operations for French multinational corporation Schneider Electric – as a new board member, effective Jan. 7, 2019.
Schneider Electric specializes in energy management, automation solutions and technology services, operating in over 100 countries.
Prior to joining Schneider Electric, Clayton worked in the technology and automotive sectors – at Dell and General Motors, respectively.
"Annette Clayton brings a wealth of business leadership experience across a diverse range of industries," said Lynn Good, Duke Energy's chairman, president and CEO. "Her insight and expertise will further strengthen our board as we transform the company and build a smarter energy future for our customers and communities."
Clayton will join two Duke Energy board committees: Audit and Nuclear Oversight.
At Schneider Electric, she also serves as chief supply chain officer globally and is a member of the executive committee. Previously at the company, she served as an executive vice president in Hong Kong and oversaw sales and operations in India, among other positions.
At Dell, Clayton served as vice president of global supply chain operations and vice president of Dell Americas operations.
At General Motors, she served as president of GM's Saturn subsidiary, corporate vice president of global quality, a member of GM's strategy board, and plant manager at a GM truck manufacturing facility.
Clayton also serves on the board of directors of Polaris Industries and is an executive advisory board member for SCM World, a Gartner community.
She holds a master of science degree in engineering management from the University of Dayton and a bachelor of science degree in systems engineering from Wright State University.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800-559-3853
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SOURCE Duke Energy
Article Date
12/13/201812/13/2018 - Duke Energy announces final routes, substation location for Polk County Reliability Enhancement Project
Duke Energy announces final routes, substation location for Polk County Reliability Enhancement Project
Source: PR Newswire
ST. PETERSBURG, Fla., Dec. 13, 2018 /PRNewswire/ -- Duke Energy has selected the preferred routes and substation location for the Polk County Reliability Enhancement Project, designed to meet the increasing energy needs of those living and working in the growing heart of central Florida.
This project will enhance the ability of Duke Energy and neighboring electric utilities to provide safe and reliable energy to homes, community facilities and businesses in the area by connecting the company's Osprey Energy Center in Auburndale to existing substations in Kathleen and Haines City.
The location and alignments of the routes for these new transmission lines are identified on this map.
As part of the route selection process, Duke Energy carefully reviewed and considered community input in addition to other factors such as safety, reliability, land use, cultural and natural resources. Based on extensive evaluation, the company selected a route with the least overall impact to homes, personal property, businesses, environment and the community.
The company engaged the community and solicited comments through open houses, letters, post cards, emails and phone calls. Duke Energy received approximately 300 comments from residents and members of the public during the open comment period.
"We appreciate the public's participation throughout the planning phase of this project," said Catherine Stempien, Duke Energy Florida president. "Know we are committed to continuing to engage the affected communities and keep them informed as we build an energy backbone to support the tremendous growth and development now underway in Polk County."
Next Steps
Land surveying activities will begin along the route in January 2019 and continue for approximately six months. Survey results are used to establish the precise location and alignment of the routes and identify where easements may be needed on individual properties. Duke Energy will work directly with property owners when areas needed to construct, operate and maintain the new 230-kV transmission lines are identified.
Construction of the Polk County Reliability Project is expected to begin in late summer 2021 and will continue until the line is placed in service in 2024.
More details can be viewed at duke-energy.com/osprey. Residents who have questions about the project, can contact email PolkReliabilityEnhancements@duke-energy.com or call toll-free 800.774.2852.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/13/201812/11/2018 - Duke Energy restores 685,000 power outages in the Carolinas; 45,000 customers remain without power after winter storm
Duke Energy restores 685,000 power outages in the Carolinas; 45,000 customers remain without power after winter storm
Source: PR Newswire
CHARLOTTE, N.C., Dec. 11, 2018 /PRNewswire/ -- Duke Energy has restored more than 685,000 outages after a weekend winter storm rolled through the Carolinas, dumping record amounts of snow and ice.
As of noon today, a total of 45,000 Duke Energy customers were still without power – 31,000 in North Carolina and 14,000 in South Carolina.
"Our workforce of 9,000 is restoring power to customers as fast as safely possible," said Duke Energy storm director Jason Hollifield. "However, the job is not finished. We continue to work to bring electricity back to the hardest-hit areas of the Carolinas."
Hollifield added his thanks to customers, who have been patient during the storm and supportive of workers in the field. "Our crews are working long hours in tough conditions. They're thankful for the kind words from customers as they continue to restore power in challenging conditions."
At the peak of the storm – Sunday afternoon between 2-3 p.m. – 305,000 Duke Energy customers were without power. Overall, roughly 730,000 outages occurred during the event.
Estimated power restoration times
The company has provided estimates of when power will be restored to remaining customers whose properties can receive power. Most customers' power will be restored sooner than these estimates:
https://www.duke-energy.com/outages/current-outages
Impacted customers who are registered to receive Duke Energy text alerts will receive a text once an estimated restoration time has been established for their property.
Latest general storm information – https://www.dukeenergyupdates.com/.
Safety reminders
With evening temperatures at or below freezing, customers should heed the advice of state and local emergency management officials in North Carolina and South Carolina. Both states have mobile apps for the latest information on shelters and other needs.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/11/2018Duke Energy restores power to 618,000 Carolinas customers following winter storm
Source: PR Newswire
CHARLOTTE, N.C., Dec. 10, 2018 /PRNewswire/ -- Duke Energy has restored power to 618,000 customers so far in North Carolina and South Carolina, with 91,000 customers remaining to be restored as of 5:30 p.m. today.
Estimated restoration times for the remaining customers have been posted to the company's website.
"We deeply appreciate the patience our customers have shown, and we're doing all we can in these extreme conditions to restore every customer as fast as possible," said Duke Energy storm director Jason Hollifield.
Estimated power restoration times
The company has provided estimates of when power will be restored to remaining customers whose properties can receive power. Most customers' power will be restored sooner than these estimates:
https://www.duke-energy.com/outages/current-outages
Impacted customers who are registered to receive Duke Energy text alerts will receive a text once an estimated restoration time has been established for their property.
Latest general storm information – https://www.dukeenergyupdates.com/.
Safety reminders
With temperatures at or below freezing, customers should heed the advice of state and local emergency management officials in North Carolina and South Carolina. Both states have mobile apps for the latest information on shelters and other needs.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/10/201812/10/2018 - 500,000 Duke Energy customers back online since weekend winter storm; 156,000 remain without power
500,000 Duke Energy customers back online since weekend winter storm; 156,000 remain without power
Source: PR Newswire
CHARLOTTE, N.C., Dec. 10, 2018 /PRNewswire/ -- Duke Energy is working to restore the remaining 156,000 customers without power after this weekend's winter storm that produced record snowfalls across the Carolinas. The company has restored more than a half million customers since the storm struck.
The public can follow the latest developments on the winter storm and Duke Energy's efforts to restore power at: https://www.dukeenergyupdates.com/.
As of noon today, the company reported 156,000 outages – 110,000 in North Carolina and 46,000 in South Carolina. The company has restored power to 500,000 customers since the weekend storm hit.
"This storm has challenged our customers in so many parts of their lives. We thank them for their patience," said Duke Energy Storm Director Jason Hollifield. "Duke Energy has made great progress in power restoration. But there is much left to be done. Our crews are working tirelessly to restore power as quickly and safety as possible – even though some remnants of the storm are still in our region."
Hollifield added that rugged travel conditions in hard-hit areas are challenging the movement of Duke Energy crews and local first responders.
"Some of our areas have more than a foot of snow on the ground and roadways that are barely passable," he added. "That multiplies the difficulty to restore power."
Among the hardest hit counties:
North Carolina: Buncombe, Guilford, Haywood, Mecklenburg, Polk, Rutherford and Transylvania counties.
South Carolina: Cherokee, Greenville and Spartanburg counties.
Safety reminders
With temperatures at or below freezing, customers should heed the advice of state and local emergency management officials in North Carolina and South Carolina. Both states have mobile apps for the latest information on shelters and other needs.
Reporting outages
Customers who experience an outage during the storm have multiple ways to report it:
Duke Energy will provide updates on its social media channels to keep customers informed if significant outages occur:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Corporate Communications
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/10/2018Duke Energy workforce of 9,000 responding to power outages in the Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Dec. 9, 2018 /PRNewswire/ -- Almost 9,000 personnel are responding to Duke Energy power outages due to a winter storm that is rolling through the Carolinas this weekend.
Customers can follow the latest developments on the winter storm and Duke Energy's efforts to restore power at: https://www.dukeenergyupdates.com/.
As of noon today, the company reported 240,000 outages – 170,000 in North Carolina and 70,000 in South Carolina. The company has restored power to 80,000 customers since last night and early this morning.
"We appreciate the patience of our customers, who are personally dealing with the impacts of the storm," said Duke Energy Storm Director Jason Hollifield. "We are working as quickly and safely as possible to restore power to our affected areas."
Among the hardest hit counties:
North Carolina: Buncombe, Haywood, Henderson, Jackson, Macon, Mecklenburg, Polk, Rutherford, Transylvania and Wake counties.
South Carolina: Greenville and Spartanburg counties.
A mix of heavy snow, sleet and freezing rain are causing branches to sag and trees to fall, bringing power lines down with them. Also, hazardous road conditions are resulting in vehicle accidents. Cars hitting power poles and other electrical infrastructure further increase the risk of power outages.
The company typically requires 12-24 hours to fully assess damage from a significant weather event, even while simultaneously restoring power. Winter storms can present additional challenges to moving personnel and equipment within hard-hit areas.
Safety reminders
With temperatures below freezing, customers should make a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs. The company urges everyone to be prepared and stay safe – and encourage other family members, friends and neighbors to do the same.
Reporting outages
Customers who experience an outage during the storm have multiple ways to report it:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Corporate Communications
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/9/2018Duke Energy projects winter storm could result in 500,000+ power outages
Source: PR Newswire
CHARLOTTE, N.C., Dec. 7, 2018 /PRNewswire/ -- Duke Energy meteorologists today modeled the latest forecast for an approaching winter storm and project the heavy wet snow, sleet and freezing rain will result in approximately 500,000 power outages or more for homes and businesses in the Carolinas.
"There remains a lot of uncertainty with this storm," said longtime Duke Energy chief meteorologist Nick Keener. "A slight change in the storm's track or in the temperature could result in fewer or even more outages, so everyone needs to be prepared."
More than six inches of snow or a quarter of an inch of ice accumulation will cause branches to sag and trees to fall, bringing power lines down with them. Additionally, hazardous road conditions can result in vehicle accidents which further increase the risk for power outages as cars hit power poles and other electrical infrastructure.
The company typically requires 12-24 hours to fully assess damage from a significant weather event, even while simultaneously restoring power. Winter storms can present additional challenges to moving personnel and equipment to hard hit areas.
Widespread power outages expected
Based on the current forecast, widespread, multiple-day power outages are expected for the Mountains, Foothills, Piedmont, Triad and Triangle areas of North Carolina and portions of Upstate South Carolina and customers should be prepared.
Duke Energy has more than 8,700 line and tree workers, damage assessors and support personnel ready to respond. However, weather and travel conditions may be hazardous and challenging, and could delay damage assessment and restoration.
Safety reminders
With temperatures below freezing, customers should make a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs. We urge everyone to be prepared and stay safe – and encourage other family members, friends and neighbors to do the same.
Reporting outages
Customers who experience an outage during the storm have multiple ways on how to report it:
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Corporate Communications
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/7/2018Duke Energy to consolidate Uptown Charlotte office space with new building, reaffirming its commitment to Uptown
Source: PR Newswire
CHARLOTTE, N.C., Dec. 7, 2018 /PRNewswire/ -- Duke Energy today announced it will construct a 39-floor office tower to house employees currently scattered among several aging Uptown Charlotte buildings. The move will reduce the company's overall footprint in the Uptown Charlotte area by approximately 25 percent while putting several prime Charlotte locations on the market.
By consolidating office space into a new building, the company will avoid spending millions of dollars annually to manage and maintain several inefficient and aging facilities that are more than 40 years old.
In addition to constructing the new tower, the company plans to sell its 526 Church Street and 401 College Street facilities and exit its lease at 400 South Tryon Street. The plan will consolidate the space the company occupies in Uptown Charlotte over the next several years from four buildings to two buildings with the goal of reducing its footprint from 2 million square feet to 1.5 million square feet.
"These actions will allow us to operate our business more efficiently, enhance employee productivity and better serve our customers and communities," said Melissa Anderson, Duke Energy's executive vice president, administration and chief human resources officer. "It will also free up premium real estate in Uptown Charlotte – currently in high demand – for other purposes."
The plan continues the company's efforts to best house its approximately 6,000 employees and contractors in Charlotte to continue delivering affordable, reliable and increasingly clean energy, as well as customer-focused products and services.
The company's corporate headquarters will remain at the current Duke Energy Center on Tryon Street.
Duke Energy office tower
Duke Energy plans to utilize a sale-leaseback financing option to construct the office tower. Upon completion, Duke Energy will seek a buyer to purchase the building and sign a long-term lease with the new owner.
Approximately 1,000 craftsman and trade workers will be employed during the three-year construction period, providing an economic boost to Charlotte and the surrounding areas.
The office tower will be located on South Tryon Street on what's currently a surface parking lot lying between St. Peter's Catholic Church and The Harvey B. Gantt Center. The Duke-owned site is located directly across from Duke Energy's headquarters building, as well as connecting to the company's Innovation Center at Optimist Hall office located along the LYNX Blue Line.
Once completed, approximately 25,000 square feet of new retail space will be available, including a walkway to connect the building lobby to Tryon and College Streets where additional retail space will reside.
Renderings of the new building are expected to be available in Q1 2019. Construction will be a three-year process with Duke Energy taking occupancy in 2022.
Summary of consolidation plan
Retain:
Sell/exit lease:
Construct:
Additional building facts
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Neil Nissan
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/7/2018Duke Energy prepares for early winter storm in the Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Dec. 6, 2018 /PRNewswire/ -- An early December storm will bring a mixed bag of hazardous wintry precipitation to the Carolinas this weekend, likely to cause prolonged power outages in some areas as snow and ice bring down trees, limbs and power lines.
Duke Energy meteorologists continue to monitor weather conditions and the company is making plans accordingly. Line technicians, service crews and other personnel throughout Duke Energy's service area are prepared to as outages and emergencies occur.
The company is urging customers to take appropriate precautions as well. Snow and certainly freezing rain can cause hazardous driving conditions resulting in traffic accidents and downed power poles resulting in isolated outages.
Power outages expected
Based on the current forecast, widespread, multiple-day power outages are expected and customers should be prepared. In addition, weather and travel conditions may be hazardous and challenging, and could delay Duke Energy workers' ability to access areas fully assess storm damage and completely restore electric service.
With temperatures below freezing, customers should make a plan to move family members – especially those with special needs – to a safe, alternative locations in case an extended power outage occurs. We urge everyone to be prepared and stay safe – and encourage other family members, friends and neighbors to do the same.
Safety reminders
Reporting outages
Customers who experience an outage during the storm have multiple ways on how to report it:
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Corporate Communications
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/6/201812/5/2018 - Duke Energy helps protect, enhance South Carolina's natural resources with more than $400,000 in grants
Duke Energy helps protect, enhance South Carolina's natural resources with more than $400,000 in grants
Source: PR Newswire
GREENVILLE, S.C., Dec. 5, 2018 /PRNewswire/ -- The Duke Energy Foundation recently awarded more than $400,000 in grants to 14 South Carolina organizations that will fund environmental projects, wildlife conservation efforts and environmental educational programs across the Palmetto State.
"We are committed to investing resources and working alongside our community partners to ensure future generations enjoy the immeasurable benefits of the nature around us," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "By supporting the organizations that do this honorable work, we can help protect and restore wildlife and natural resources, and support quality environmental education programs in our state."
The Palmetto Conservation Foundation received a grant to support training of and work by Palmetto Conservation Corps crews to protect and improve about 100 miles of public trails. These funds will allow the Corps to complete environmental projects in public lands across the Upstate.
"Duke Energy's support of the Palmetto Trail and the Palmetto Conservation Corps exemplifies good corporate citizenry at its finest," said Natalie Britt, executive director of the Palmetto Conservation Foundation. "The Corps is South Carolina's only trail-based AmeriCorps job-training program for young adults interested in careers in public land management, recreational trails and environmental stewardship. The Palmetto Trail is proud to call Duke Energy a partner."
Carolina Waterfowl Rescue received funds to restore and enhance the habitat of a previous mining site in Marlboro County by providing refuge for protected and endangered wildlife.
"This grant will enable us to provide an enhanced wildlife habitat for endangered and protected birds," said Jennifer Gordon, executive director of Carolina Waterfowl Rescue. "We wouldn't be able to do the work we do without the support from Duke Energy."
Environmental grant recipients
These organizations received grants to improve the environment in their local communities:
The Foundation annually funds more than $33 million to communities throughout Duke Energy's seven-state service area. In 2017, the company donated more than $2 million to nonprofit organizations in South Carolina.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036 | 24-Hour: 800.559.3853
Twitter: @DE_RyanMosier
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SOURCE Duke Energy
Article Date
12/5/201811/30/2018 - All fired up! Duke Energy's new $1.5 billion natural gas power plant opens to serve 1.8 million Floridians
All fired up! Duke Energy's new $1.5 billion natural gas power plant opens to serve 1.8 million Floridians
Source: PR Newswire
CRYSTAL RIVER, Fla., Nov. 30, 2018 /PRNewswire/ -- Duke Energy's 1.8 million customers in Florida are now receiving 1,640 megawatts of cleaner-burning, highly efficient energy from the company's new state-of-the-art combined-cycle natural gas plant in Citrus County, Fla.
The station started serving customers in two phases. The first 820-megawatt power block started running Oct. 26, and the second 820-megawatt power block came online Nov. 24.
Duke Energy broke ground on the project in March 2016. Watch this 30-second video to see what the station looks like today.
The new station will replace generation from plant retirements, including two 1960s-era coal-fired units and a nuclear plant.
Construction and related activities helped power economic growth in the area, creating thousands of temporary jobs and increasing the tax base.
"The high-tech facility represents a $1.5 billion investment in Citrus County, surrounding communities and Florida – underscoring our continued commitment to our customers and the environment," said Jeff Swartz, vice president of fossil/hydro operations in Florida. "The station will provide a smarter energy future for Floridians by generating cleaner, more efficient energy."
Economic benefits
The project provided more than $600 million in economic benefits during construction and will provide about $13 million annually during the station's 35-year operational life.
During the height of construction, the project also created more than 2,800 temporary construction jobs and provided work to more than 100 companies.
Locally, businesses in Crystal River provided nuts, bolts and lubricants; businesses in Homosassa and Tampa supplied concrete; and a business in Inverness provided waste-disposal services.
The new station is expected to generate about $4 million in new Citrus County property taxes for 2019.
In all, crews poured about 37,000 cubic yards of concrete – about six football fields filled waist deep – and installed about 475 miles of wire and cable.
Though several hundred workers are still at the site to close out the project, about 50 permanent workers are operating and maintaining the station.
Environmentally responsible
Combined-cycle natural gas units generate energy more efficiently and release significantly lower emissions than coal-fired units.
By investing in the new Citrus station, sulfur dioxide, nitrogen oxides and other emissions are expected to drop by 90 percent in comparison to the operation at Crystal River coal-fired units 1 and 2.
Duke Energy announced the decision to retire these units in May 2014 due to changing federal environmental regulations.
The coal-fired units will formally retire in December, and the demolition process is expected to last through 2023.
Community commitment
For more than 50 years, Duke Energy employees have donated their time, talent and treasure to give back to the communities and neighborhoods where they live and work.
In Citrus County, they remove trash from roads, parks and beaches; participate in food, clothing, hurricane relief and school supply drives; serve on nonprofit boards; and sponsor underprivileged children at Christmas.
Since 2012, Duke Energy has also contributed more than $1.5 million to Citrus County through Duke Energy Foundation grants and community sponsorships.
Other details
The new Citrus combined-cycle natural gas station is co-located at the 5,100-acre Crystal River Energy Complex on Florida's Gulf Coast about 85 miles north of Tampa.
The complex is also home to two operating coal-fired units, two soon-to-be retired coal-fired units, a decommissioning nuclear plant and a mariculture center that grows and releases fish into Gulf of Mexico waters.
The Citrus station has two power blocks, each with two combustion turbines and one steam generator, providing the latest technology with a proven performance.
Megawatts from the new station combined with the two operating coal-fired units make the Crystal River Energy Complex Duke Energy's largest generator in Florida, producing more than 3,000 megawatts of energy. One megawatt powers about 800 average homes.
The new station receives natural gas through the new 515-mile Sabal Trail pipeline. The $3.2 billion pipeline starts in Alabama, extends through Georgia and ends in central Florida. Duke Energy is a 7.5-percent owner of the pipeline.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Heather Danenhower
Office: 352.501.3700 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/30/201811/27/2018 - Duke Energy Renewables and Invenergy host ribbon-cutting ceremony for Shoreham Solar Commons project on Long Island
Duke Energy Renewables and Invenergy host ribbon-cutting ceremony for Shoreham Solar Commons project on Long Island
Source: PR Newswire
CHARLOTTE, N.C., Nov. 27, 2018 /PRNewswire/ -- More than 50 community, business and energy leaders attended a ribbon-cutting ceremony today for Duke Energy Renewables' Shoreham Solar Commons Project, a 24.9-megawatt (MW) facility near Brookhaven, N.Y.
Shoreham Solar Commons is located about 60 miles east of Manhattan, on the site of the former Tallgrass Golf Course. It was placed into service July 1, and the Long Island Power Authority (LIPA) is purchasing the power under a 20-year agreement.
"As we continue to provide affordable, renewable energy to customers across the United States, we are especially pleased to be here for our first renewables project in the state of New York," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "The solar project will deliver tremendous economic and environmental benefits to the state and local community."
"The integration of this significant solar project into the Long Island Electric System not only provides clean energy to our rate payers, it also helps Long Island reduce its dependency on fossil fuels," said Paul Napoli, vice president of power markets, PSEG Long Island. "PSEG Long Island is pleased to support a clean renewable energy future on Long Island and assist New York State in the achievement of 50 percent renewable energy by 2030."
Duke Energy Renewables acquired the project from Invenergy, who constructed the project on the grounds of a former golf course.
"Our team was proud to manage the development and construction of Shoreham Solar Commons, and we look forward to providing world-class operations going forward to ensure the project delivers on its economic and environmental benefits." Alex George, Senior Vice President, Asset Management & Operations, Invenergy said. "With renewable energy projects across the state, Invenergy is proud to support Governor Cuomo's ambitious energy vision to provide affordable clean, renewable energy to more New Yorkers."
The project is expected to generate between $700,000 and $900,000 in annual tax revenue. The energy produced is estimated to displace 29,000 tons of greenhouse gas emissions annually and create nearly 1 million megawatt-hours of clean, renewable energy over its lifetime.
Duke Energy Renewables
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar electric generation facilities across the U.S. The portfolio includes nonregulated renewable energy, as well as energy storage assets.
Duke Energy Renewables' utility-scale wind and solar assets total about 2,900 megawatts (MW) – across 14 states – from 21 wind and 64 solar projects. The power produced by these projects is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities, and commercial and industrial customers. Visit Duke Energy Renewables for more information.
Duke Energy Renewables is part of the Commercial Renewables business unit of Duke Energy (NYSE: DUK).
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.
Invenergy and its affiliated companies have successfully developed more than 20,400 megawatts of projects that are in operation, construction or contracted, including wind, solar, and natural gas power generation and advanced energy storage projects. Learn about Invenergy's commitment to social, environmental, and economic sustainability at: Invenergyllc.com/impact
PSEG Long Island
PSEG Long Island is committed to building an industry leading electric company dedicated to providing the people of long Island and the Rockaways with exceptional customer service, best-in-class reliability and storm response, and a strong level of involvement in the communities in which its employees live and work. PSEG Long Island is a subsidiary of Public Service Enterprise Group Incorporated (NYSE:PEG), a publicly traded diversified energy company with annual revenues of $9.1 billion and operates the Long Island Power Authority's transmission and distribution system under a 12-year contract.
Duke Energy media line: 800.559.3853
Invenergy media contact: 515-745-3215
PSEG Long Island media contact: 516-229-7248
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SOURCE Duke Energy
Article Date
11/27/201811/20/2018 - Duke Energy partners with S.C. Technical College System to expand lineworker training with $1 million grant
Duke Energy partners with S.C. Technical College System to expand lineworker training with $1 million grant
Source: PR Newswire
GREENVILLE, S.C., Nov. 20, 2018 /PRNewswire/ -- Duke Energy is partnering with the S.C. Technical College System to invest $1 million in grants to expand training opportunities for much-needed utility lineworkers across the state.
The company will need this highly-skilled workforce as it builds a smart, secure and flexible electric infrastructure to better serve customers and keep South Carolina competitive now and in the years ahead.
As Duke Energy and other utilities build the smart-thinking grid of the future – and the industry adapts to an aging workforce that will retire in the coming years – thousands of jobs will be created and filled.The backbone of the workforce is the certified utility lineworker.
"We are transforming the energy grid – making strategic, data-driven investments to improve reliability, use more solar and clean energy and provide customers with the intelligent information they need to make better energy choices and save money," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina state president. "These investments will reap benefits both immediately and in the years to come, but we must increase the talent pipeline for lineworkers here in South Carolina today to build the smart-thinking power grid of tomorrow."
The Carolinas Energy Workforce Consortium – a partnership of utilities in the Carolinas led by Duke Energy that helps ensure the two states have a sustainable, qualified workforce – is projecting the need for at least 500 lineworker hires every year for the next five years in South Carolina.
The S.C. Technical College Lineworker Grant Program was created to help fill this need and will focus on filling the ranks for existing and new industry demand of certified lineworkers. The grants will fund existing lineworker programs or help create new programs at the state's technical colleges. A committee will award grants twice a year with a maximum grant for any program capped at $200,000.
"Collaborating with industry to meet essential workforce needs is a key tenet of the S.C. Technical College System. This partnership with Duke Energy provides the perfect example of how our system strives to align our degrees and curriculum with community and industry needs," said Dr. Tim Hardee, S.C. Technical College System president. "We look forward to working closely with Duke Energy to address the shortage of much-needed trained lineworkers. Expansion of our offerings will help provide skilled workers who are so important to maintaining our state's infrastructure."
The utility lineworker
Lineworkers are true heroes in our communities. They daily perform challenging, highly skilled work to provide the energy that drives South Carolina.
The job of a lineworker is critical to the safe and efficient delivery of power for Duke Energy's customers. All lineworkers are trained to respond to major outages in events such as high winds, ice and summer and winter storms.
Lineworkers receive an extensive progression of training over several years. In most cases at each interval, both written and field tests must be successfully completed to demonstrate expertise and job knowledge.
Lineworkers consider it a privilege to serve their communities and they love what they do. The average tenure of a lineworker is between 20 to 30 years, but there are some who've been on the lines for more than 40 years working safe and providing excellent customer service.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/20/201811/15/2018 - Duke Energy Foundation awards 10 Indiana nonprofits more than $154,000 in environmental project grants
Duke Energy Foundation awards 10 Indiana nonprofits more than $154,000 in environmental project grants
Source: PR Newswire
PLAINFIELD, Ind., Nov. 15, 2018 /PRNewswire/ -- Ten Indiana nonprofit environmental organizations will receive $154,577 in grants from the Duke Energy Foundation to enhance and improve Indiana's environment.
"We understand the importance of maintaining a commitment to environmental responsibility in our communities," said Melody Birmingham-Byrd, Duke Energy Indiana state president. "That's why we work with a number of stakeholders to develop initiatives that lessen the impact of energy production on surrounding habitats."
Grant recipients include:
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. In Indiana, the Foundation contributes more than $2 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/15/201811/15/2018 - Duke Energy teams up with DonorsChoose.org to help teachers and students recover from Hurricane Florence
Duke Energy teams up with DonorsChoose.org to help teachers and students recover from Hurricane Florence
Source: PR Newswire
CHARLOTTE, N.C., Nov. 15, 2018 /PRNewswire/ -- The Duke Energy Foundation announced it is providing a $160,000 grant to DonorsChoose.org to fund relief projects by public school teachers in 16 counties across North Carolina and South Carolina.
"Many of the communities Duke Energy serves are still recovering from the catastrophic damage caused by Hurricane Florence," said Stephen De May, Duke Energy's North Carolina president. "The last thing that teachers and children should have to worry about during this difficult time is whether they have enough school supplies."
DonorsChoose.org will allocate $10,000 each to 11 counties in North Carolina and five counties in South Carolina. Teachers in these counties are eligible for up to a $500 grant to cover the cost of their relief project, which can include direct relief items for students or classroom supplies.
"We have such tremendous respect for the teachers in hard-hit communities whose commitment to their students never wavered," said Kodwo Ghartey-Tagoe, president of Duke Energy in South Carolina. "We appreciate all they are doing to help our communities and students recover and are here to support them."
"School can be the one safe haven for students when their communities are recovering from a disaster," said Charles Best, founder of DonorsChoose.org. "We're so grateful to have support from Duke Energy to help teachers and students get back to learning after Hurricane Florence."
Hurricane Florence, which hit North Carolina and South Carolina in mid-September, left in its wake catastrophic damage and unleashed almost 10 trillion gallons of water, making it one of the worst flooding events in East coast history. The storm damaged or destroyed many homes, businesses and schools, resulting in hundreds of school days missed across the two states. Duke Energy restored more than 1.8 million power outages that resulted from the storm.
The Duke Energy Foundation has contributed $560,500 to disaster relief in the wake of Hurricane Florence, including more than a dozen grants to local relief efforts and a $145,000 grant to American Red Cross. The Foundation annually funds more than $30 million to communities throughout Duke Energy's seven-state service area.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/15/201811/13/2018 - Duke Energy helps protect and restore North Carolina's wildlife and natural resources with $1.1 million contribution
Duke Energy helps protect and restore North Carolina's wildlife and natural resources with $1.1 million contribution
Source: PR Newswire
CHARLOTTE, N.C., Nov. 13, 2018 /PRNewswire/ -- Duke Energy is providing more than $1.1 million to support 11 North Carolina environmental nonprofit organizations to preserve, protect and enhance natural heritage across the state.
"North Carolina is home to some of the nation's most beautiful and treasured natural resources," said Stephen De May, Duke Energy's North Carolina president. "We are proud to support initiatives that protect wildlife and natural resources and encourage people to enjoy and care for their surrounding environment."
Each organization received a $100,000 grant to support environmental projects, wildlife conservation efforts and educational programs that will improve the environment in their communities.
The Conservation Trust of North Carolina, for example, will use its grant to provide service opportunities for diverse youth and young adults to complete high priority conservation projects across the state.
"Conservation Trust for North Carolina (CTNC) is honored to continue our partnership with Duke Energy Foundation for a fourth year," said Chris Canfield, CTNC Executive Director. "The Youth Conservation Corps program is an integral part of CTNC's mission to engage North Carolina's young people in community-based conservation projects. Their participation builds a sense of pride and ownership in preserving their natural and public lands for years to come."
Here is a complete list of the 11 grant recipients with project summaries.
The Foundation annually funds more than $30 million to communities throughout Duke Energy's seven-state service area. In 2017, the company donated more than $19 million to nonprofit organizations in North Carolina.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/13/201811/13/2018 - Piedmont Natural Gas significantly decreases South Carolina rates; utility issues winter outlook
Piedmont Natural Gas significantly decreases South Carolina rates; utility issues winter outlook
Source: PR Newswire
CHARLOTTE, N.C., Nov. 13, 2018 /PRNewswire/ -- Piedmont Natural Gas today announced two rate changes in South Carolina, which together will decrease the average residential customer's bill by approximately $16 per month compared to last winter.
For the average residential customer in South Carolina, these rate changes will result in an annual bill decrease of approximately 14 percent.
The new rates became effective on Nov. 1, 2018, and include the flow-through of tax reform benefits to customers associated with the 2017 Federal Tax Cuts and Jobs Act.
Piedmont requests occasional rate adjustments to reflect changes in the commodity price of the natural gas purchased for its customers. Piedmont passes through fuel cost to customers on a dollar-for-dollar basis.
Details for the tax reform and the natural gas commodity price changes are outlined on Piedmont's website.
Winter 2018-2019 Outlook
According to the annual Winter Fuels Outlook from the Energy Information Association (EIA), temperatures for the upcoming winter period (November 2018 through March 2019) are expected to be roughly the same as last winter.
Residential customers could see higher or lower monthly bills than forecast depending on actual winter weather. Colder weather typically increases the amount of natural gas that a residential customer consumes.
Customers can estimate their home's energy consumption and compare appliance operating costs using Piedmont's free, online energy-saving tools at piedmontng.com/EnergySavingTools.
Piedmont's energy efficiency programs are outlined at piedmontng.com/Rebates, and here are the company's top five tips for saving energy this winter:
Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
24-Hour Media Line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
11/13/2018Duke Energy Foundation awards Florida nonprofits more than $343,000 in grants to protect and restore wildlife and natural resources
Source: PR Newswire
ST. PETERSBURG, Fla., Nov. 13, 2018 /PRNewswire/ -- Duke Energy Florida is granting more than $343,000 to 10 nonprofit organizations throughout the state to restore and protect the natural environment for future generations to enjoy.
The grants focus on water quality and conservation, habitat restoration, species protection and environmental education initiatives. Funds are administered through the Duke Energy Foundation and its Powerful Communities program, which focuses on the following priorities: K-12 education, workforce, nature, state strategic impact, local impact and community initiatives.
"Helping to protect and preserve Florida's natural resources and wildlife species is vitally important to our customers, communities and company," said Catherine Stempien, Duke Energy Florida president. "Our communities are only as healthy as the environment around them and we're proud to partner with local and statewide nonprofit agencies in their missions to help Florida's environment."
Grant recipients include:
The Foundation annually funds more than $33 million to communities throughout Duke Energy's seven-state service area. In 2017, the company donated more than $5 million to nonprofit organizations in Florida.
Additionally, Duke Energy's volunteer support solidifies its commitment to the communities it serves. Last year, employees volunteered more than 15,000 hours in their communities.
For additional information on Duke Energy's community giving programs, visit www.duke-energy.com/foundation.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/13/2018Duke Energy Renewable Services recognized for operational excellence
Source: PR Newswire
CHARLOTTE, N.C., Nov. 12, 2018 /PRNewswire/ -- Duke Energy Renewable Services, an operations and maintenance organization for wind and solar asset owners across the U.S., has won recognition for its high standard of operational excellence in 2018.
Duke Energy Renewable Services' technicians received the 2018 Wind Technician Team of the Year Award at the 10th Annual Wind Operations forum in Dallas this year. This team is operating and maintaining DTE Energy's wind fleet in Michigan and was recognized for its accomplishments in safety performance, innovation, environmental stewardship and customer service.
"Customer relations is the cornerstone of Duke Energy Renewable Services' success, and we celebrate every achievement that strengthens our organization and the credibility of the service we provide to our customers," said Jeff Wehner, vice president of renewable operations. "As an owner-operator of renewables, we uphold the same standards of safety, reliability, cost efficiency and performance with the third-party sites we operate as we do with our own assets."
Separately, Duke Energy Renewables' Highlander I, Seville I and Seville II solar power projects in California were recognized by the Solar Finance Council as three of the top 100 performing solar assets in the country. The Solar Finance Council, which launched in May of this year, partnered with kWh Analytics to present their findings on solar project output in the U.S.
In addition, the Duke Energy Renewables Control Center (RCC) has been granted ISO 9001:2015 certification – an internationally recognized standard that assures services meet the needs of clients through an effective quality management system.
"The on-site services business has been certified to ISO 9001 since 2010," Wehner said. "Adding the RCC to this certification further demonstrates our commitment to provide high-quality, consistent services to our clients."
Duke Energy Renewables also has won the prestigious Blue Diamond Award for its Data Efficiency Project. The 2018 Blue Diamond Awards is an annual event recognizing technology as an economic driver for innovation in the Charlotte, N.C., region and has been in place for more than 25 years.
Duke Energy Renewables
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar electric generation facilities across the U.S. The portfolio includes nonregulated renewable energy, as well as energy storage assets.
Duke Energy Renewables' utility-scale wind and solar assets total about 2,900 megawatts (MW) – across 14 states – from 21 wind and 64 solar projects. The power produced by these projects is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities, and commercial and industrial customers. Visit Duke Energy Renewables for more information.
Duke Energy Renewables is part of the Commercial Renewables business unit of Duke Energy (NYSE: DUK).
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
11/12/2018Piedmont Natural Gas alerts customers to be aware of scams
Source: PR Newswire
CHARLOTTE, N.C., Nov. 9, 2018 /PRNewswire/ -- Piedmont Natural Gas is educating customers on how to recognize Piedmont service technicians as part of an awareness campaign to protect customers of the Charlotte-based natural gas distribution company from utility scammers.
Fall is typically a busy time for Piedmont's technicians, who are a common sight in neighborhoods as they perform routine maintenance, conduct safety inspections and respond to service requests. Unfortunately, customers in past years have been victimized by scammers posing as utility workers.
"The safety of our customers is Piedmont's No. 1 priority, and we want to give them the information they need to feel safe when one of our service technicians comes to their door," said Jared Lawrence, vice president of customer operations for Piedmont Natural Gas. "Although we have no recent reports of scammers impersonating Piedmont employees, our goal is to prevent even one customer from falling victim to a scam."
Piedmont's awareness campaign, which also includes information in customers' bills and on its website at piedmontng.com, is part of a nationwide effort called Utilities United Against Scams (UUAS) to help customers distinguish scammers from actual utility workers.
Here are four easy things customers can keep in mind to help them identify a Piedmont Natural Gas service technician:
Customers who have any doubts about the identity of an individual claiming to be a Piedmont employee can call Piedmont Natural Gas at 800.752.7504 to find out if the company is working in their area and if there is a work order for their address. Customers can also visit the company's website at piedmontng.com for additional information.
UUAS has made available a "Consumer's Guide to Impostor Utility Scams," which provides descriptions of the many scams that target utility customers and tools they can use to protect themselves. This guide can be found on the coalition's website, utilitiesunited.org.
For more information on how to spot a utility scam and protect personal information, visit Avoid scammers: How to recognize a utility employee.
Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
24-Hour Media Line: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
11/9/2018Duke Energy recognizes third annual 'Utility Scam Awareness Day' on Nov. 14
Source: PR Newswire
CHARLOTTE, N.C., Nov. 9, 2018 /PRNewswire/ -- Duke Energy, a founding member of Utilities United Against Scams (UUAS), is continuing its efforts to remind customers of the tactics scammers use to steal money from customers and to inform them on how they can guard against falling victim to utility imposter scams.
UUAS, a consortium of more than 100 U.S. and Canadian electric, water, and natural gas companies (and their respective trade associations), continues to raise awareness of utility scams targeting customers.
The third annual Utility Scam Awareness Day will be Nov. 14, and is supported by a week-long advocacy and awareness campaign focused on exposing the tactics of scammers.
UUAS' Utility Scam Awareness Week campaign, highlighting "7 Scams in 7 Days," will be held Nov. 11-17. The campaign coincides with the start of the holiday season, a time when reported scam activity spikes.
"To better protect customers, it is critically important we continue to raise awareness and to educate customers about scams," said Duke Energy's Vice President of Customer Operations for Piedmont Natural Gas and Metering Services and UUAS Chairman Jared Lawrence. "Scammers are developing increasingly sophisticated schemes to take advantage of customers. Through the '7 Scams in 7 Days' campaign, UUAS will highlight the most common scam tactics and provide resources to help utility customers better protect themselves from impostor utility scammers."
Duke Energy, along with other UUAS members have helped to shut down more than 2,200 Toll-Free Numbers used by scammers against utility customers. The group recently was awarded the Toll-Free Industry's Fraud Fighter Award in recognition of its advocacy and awareness campaign to stop scams that target electric, water, and natural gas company customers. UUAS was presented the award on October 10 at the Toll-Free User Summit hosted by Somos, Inc., in Las Vegas.
Customers who suspect that they have been victims of fraud or who feel threatened during contact with one of these scammers should contact their utility company or local law enforcement authorities. Also, customers should never purchase a prepaid debit card or gift card to avoid service disconnection or shutoff. Legitimate utility companies do not specify how customers should make a bill payment, and they always offer a variety of ways to pay a bill, including accepting payments online, by phone, automatic bank draft, mail, or in person.
If someone calls, texts, appears, or emails saying you have to pay your bill immediately to avoid disconnection, tell them you would like to verify that they are a legitimate utility company representative by calling a verified number for the utility company found on the company's website or on your monthly bill. The Federal Trade Commission's website is also a good source of information about how to protect personal information and to educate yourself on the different types of impostor scams.
More than 25,000 Duke Energy customers have reported scam attempts since the company starting tracking reports in 2015. A small fraction of those customers actually fell for the scams—roughly 5-7 percent – representing close to $1.5M lost to scammers over the last 38 months.
Visit www.utilitiesunited.org for more information and tips about how customers can protect themselves from impostor utility scams, or follow along on social media: Twitter @U_U_A_S and Facebook @UtilitiesUnited.
(NYSE: DUK)
Contact: Corporate Communications
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/9/2018Duke Energy utility issues historic $1 billion green bond offering
Source: PR Newswire
CHARLOTTE, N.C., Nov. 9, 2018 /PRNewswire/ -- Duke Energy Carolinas, a subsidiary of Duke Energy (NYSE: DUK), has completed its inaugural issuance of $1 billion in green bonds that will finance eligible green energy projects – including zero-carbon solar and energy storage – in North and South Carolina. This represents one of the largest green bond transactions issued by a utility.
"Today marks a milestone for our company and demonstrates our continued commitment to generating cleaner energy for our customers and communities," said Duke Energy executive vice president and chief financial officer Steve Young. "We are proud to provide this option for investors to advance our goal of reducing carbon emissions by 40 percent by 2030."
Duke Energy Carolinas has significantly improved its environmental impact over the past decade, retiring older coal-generating plants, increasing nuclear generation capacity and adding approximately 650 megawatts (MW) of built or purchased solar capacity. The company anticipates adding 1,800 MW of built and purchased solar capacity over the next five years.
The green bonds, with a weighted average coupon of 3.74 percent between the three-year and 10-year maturities, will ensure the company's renewable energy projects continue to be financed on attractive terms to serve Carolinas customers.
The company priced the green bonds on Nov. 5 and closed the transaction on Nov. 8.
"Similar to Duke Energy, investors are increasingly interested in clean and renewable energy and now we can partner together to transform our energy future in the Carolinas," commented Young.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/9/2018Duke Energy reports third quarter 2018 financial results
Source: PR Newswire
CHARLOTTE, N.C., Nov. 2, 2018 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its third-quarter 2018 financial results in a news release available on the company's website at the following link: www.duke-energy.com/our-company/investors.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (www.duke-energy.com/our-company/investors) of Duke Energy's website or by dialing 877-627-6581 in the U.S. or 719-325-4837 outside the U.S. The confirmation code is 6905344. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 12, 2018, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 6905344. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
11/2/2018Duke Energy Foundation accepting grant proposals for projects supporting K-12 education
Source: PR Newswire
CHARLOTTE, N.C., Nov. 1, 2018 /PRNewswire/ -- Duke Energy Foundation is accepting grant applications for programs that support K-12 education as part of its new Powerful Communities philanthropic program, which will award strategic charitable grants to nonprofit organizations to build powerful communities by bolstering education, developing the future workforce of the energy sector and conserving and protecting our environment.
In 2017, Duke Energy Foundation invested more than $33 million to support communities throughout Duke Energy's seven-state service area.
"Our new Powerful Communities grant program allows us to support programs that are closely aligned with building the smarter energy future our customers want and deserve," said Cari Boyce, president of the Duke Energy Foundation. "We are excited to be a part of building stronger communities across our service territory."
Applications for the Powerful Communities: K-12 Education grant cycle will be accepted through Jan. 31, 2019. Funding will focus on programs that address the summer reading loss experienced by rising kindergartners through rising third-graders and that advance energy, engineering and environmental education. Programs that extend into out-of-school time and that serve under-represented, low-income or diverse audiences will be given preference in this grant cycle.
In addition to K-12 education, Powerful Communities will also include designated grant application windows for the following grant cycles:
Duke Energy will continue to accept ongoing applications for smaller grants that support local communities.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $30 million annually in charitable gifts. More information about the Duke Energy Foundation and its Powerful Communities program can be found at duke-energy.com/foundation.
The Duke Energy Foundation is solely funded by Duke Energy Corporation (NYSE: DUK) shareholder dollars.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/1/201810/29/2018 - Duke Energy aims to expand solar power to non-residential customers without large upfront investment
Duke Energy aims to expand solar power to non-residential customers without large upfront investment
Source: PR Newswire
CHARLOTTE, N.C., Oct. 29, 2018 /PRNewswire/ -- Duke Energy wants non-residential customers to have another option to install solar power on their premises. The company recently filed to be a certified solar lessor with the North Carolina Utilities Commission (NCUC).
Duke Energy Clean Energy Resources (DECER), a non-regulated affiliate of Duke Energy, will build, own and operate on-site solar facilities that will allow customers to access renewable energy without a large upfront investment. DECER is not financially supported by either Duke Energy Carolinas or Duke Energy Progress, Duke Energy's operating companies in the Carolinas.
"Customers want more solar power for their operations, but the large upfront investment can be an obstacle," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "Through DECER, we will be competing to provide customers a turnkey solar solution to meet their renewable energy goals, while managing the ongoing operations and maintenance of the facility."
Caldwell added that DECER will target businesses, and will mainly use local solar construction and maintenance companies to work on projects.
Residential, commercial and nonprofit customers can still take advantage of Duke Energy's $62 million solar rebate program, which has four more years left to help North Carolina customers with solar installations.
Under DECER's offering, companies can negotiate for solar facilities up to 1 megawatt of capacity – roughly 100 times the size of a typical residential home system. The agreement will have a term of up to 20 years. Customers will be able to use 100 percent of the electrical output of the facilities and be eligible for any rebates and net-metering options offered by Duke Energy. DECER will handle all the ongoing maintenance of the facilities.
The ability to offer such services was included in last year's Competitive Energy Solutions for North Carolina law – also known as HB 589.
Before beginning operation in North Carolina, Duke Energy must receive approval from the NCUC. Complete details of the NCUC filing can be found here. Duke Energy can already offer such services in South Carolina.
Duke Energy is one of the largest renewable energy companies in the nation, owning and operating more than 20 wind farms and 80 solar facilities – with 35 of them in North Carolina. The company's efforts have led North Carolina to be the No. 2 ranked state in the nation for solar power. South Carolina was one of the 10 fastest-growing states for solar in 2017.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
10/29/201810/26/2018 - Duke Energy announces quarterly dividend
Duke Energy announces quarterly dividend
Source: PR Newswire
CHARLOTTE, N.C., Oct. 26, 2018 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.9275 per share, payable on Dec. 17, 2018, to shareholders of record at the close of business Nov. 16, 2018.
Duke Energy has paid a cash dividend for 92 consecutive years.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
10/26/2018Duke Energy helps strengthen North Carolina nonprofits with over $800,000 in grants
Source: PR Newswire
CHARLOTTE, N.C., Oct. 24, 2018 /PRNewswire/ -- Duke Energy is strengthening nonprofit capacity building efforts and supporting other strategic community initiatives by investing $849,000 in 23 organizations across North Carolina.
"At Duke Energy, we recognize nonprofits are critical to the vitality of our communities and health of our natural environment," said David Fountain, Duke Energy's North Carolina president. "These organizations must have well-trained professionals leading those efforts. We're proud to help strengthen the nonprofit community in lasting and sustainable ways."
The 2018 grants, from the Duke Energy Foundation, will help enhance professional development, arts, cultural and emergency response training programs, allowing the organizations to continue strengthening and expanding their work within our communities.
"We serve nonprofits throughout North Carolina to help build their capacities and sustainability," said Jeanne Tedrow, president and CEO of the North Carolina Center for Nonprofits and 2018 Duke Energy Foundation grant recipient. "We are pleased to partner with Duke Energy to reach nonprofits locally with high-quality, relevant professional development programs."
"The Caswell County Public Library is excited to be awarded funding from Duke Energy to create a STEM Makerspace in our newly expanded library," said Rhonda H. Griffin, library director of Caswell County Public Library. "Without this funding, this new and exciting program, which will be open to people of all ages, would not be possible."
Here is a complete list of the 23 grant recipients and summaries.
The Foundation annually funds more than $33 million to communities throughout Duke Energy's seven-state service area. In 2017, the company donated more than $19 million to nonprofit organizations in North Carolina.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $33 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
The Duke Energy Foundation is part of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/24/2018Duke Energy signs on to congressional HBCU Partnership Challenge
Source: PR Newswire
CHARLOTTE, N.C., Oct. 23, 2018 /PRNewswire/ -- Duke Energy today became the first energy company to sign up for the Historically Black Colleges and Universities (HBCU) Partnership Challenge created by the Bipartisan HBCU Caucus.
Congresswoman Alma S. Adams (D-NC) and Congressman Bradley Byrne (R-AL), co-chairs of the Bipartisan HBCU Caucus, launched the HBCU Partnership Challenge to promote greater engagement and support from private companies with HBCUs. Duke Energy is among 13 other companies, including Intel, Lyft, Amazon and GM Financial, to take the challenge.
"Duke Energy has a long track record of investing in HBCUs because they are cultivating today's students to be tomorrow's leaders," said Melissa Anderson, Duke Energy's executive vice president, administration and chief human resources officer. "We look forward to working with Congresswoman Adams and the Caucus to deepen our engagement with HBCUs and enhance diversity in the energy industry."
"I am proud to announce the addition of Duke Energy to the Congressional HBCU Partnership Challenge. Duke Energy is the second North Carolina based entity to accept the challenge," said Congresswoman Alma Adams (D-NC). "I created this challenge because our District and state are home to thousands of HBCU graduates and it is vital that government and industry work together to ensure that these schools and their graduates have equal access to 21st century opportunities. I look forward to working with each participating entity to craft the best practices for recruiting and retaining diverse talent from HBCUs. This will have a major impact on addressing Charlotte's opportunity divide. I welcome Duke Energy to the challenge and I look forward to working with them."
"I applaud Duke Energy for accepting the HBCU Partnership Challenge and for their commitment to supporting our nation's HBCUs," said Congressman Bradley Byrne (R-AL). "Diversity of opinions and backgrounds is critical for the success of any business in the 21st Century economy, and HBCUs are a key part of the puzzle."
North Carolina, where Duke Energy is headquartered, has more HBCUs than any state in the country, and more than a third of African-Americans who earn a degree in STEM graduate from HBCUs. Duke Energy's wide-ranging support of HBCUs underscores the company's commitment to attract and retain the diverse talent the business needs to successfully serve its customers:
Companies that sign on to the HBCU Partnership Challenge commit to developing and following best practices to build and deepen strategic relationships with the nation's HBCUs. Following the issuance of the Challenge, the Caucus conducted a survey to learn more about current HBCU engagement with corporate America, which informed the creation of best practices for the recruitment and retention of diverse talent. More information can be found at adams.house.gov.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/23/2018Duke Energy Foundation awards Indiana nonprofits $315,000 in community impact grants
Source: PR Newswire
PLAINFIELD, Ind., Oct. 22, 2018 /PRNewswire/ -- Twenty-one Indiana nonprofit organizations are receiving $315,000 in Duke Energy Foundation grants to make a difference in their communities. Their projects range from a holiday food drive for the needy in Howard County to Indianapolis Symphony Orchestra concerts for elementary students from around the state.
"It's an honor for us to help support these nonprofit organizations as they bring life, health and vitality to their communities," said Melody Birmingham-Byrd, Duke Energy state president for Indiana. "We are dedicated to supporting initiatives that enhance the regions where our customers live, work and play."
Top grant recipients include:
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. In 2017, the foundation donated more than $2 million to nonprofit organizations in Indiana.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Contact: Lew Middleton
Office: 317.838.1505 | 24-hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/22/2018Duke Energy Florida restores more than 75,000 customer outages in the Panhandle following Hurricane Michael; rebuilding efforts continue
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 19, 2018 /PRNewswire/ -- Duke Energy Florida has restored power to all customers who were able to receive it, which totals more than 75,000 customers as of 9 p.m. on Oct. 18.
Nearly 3,800 customers in Bay and Gulf counties are unable to receive power at this time due to significant damage to their homes and businesses. The Duke Energy electric system was heavily damaged in these areas, as well.
Duke Energy Florida is now focused on rebuilding its electrical infrastructure in Mexico Beach and St. Joe Beach that was damaged in Hurricane Michael's 155 mile per hour winds and record storm surge.
The rebuilding work includes installing new transformers, main power lines and all the equipment needed to provide power to our customers when they are ready for service.
While much of the work will occur in neighborhoods, additional construction will take place within the rights of ways containing electric transmission equipment that supports the region's power grid. When complete, this work will result in a stronger, more reliable electric system for customers.
Duke Energy currently has 550 men and women focused on rebuilding. Many of these workers live in the areas affected.
Customer Care Representatives at First Baptist Church
Meter Box damage
Damage to Customer Property - Damage Notification Process
Duke Energy is carefully and actively monitoring the status of each reconstructed home or business. When they are ready, the company be ready to coordinate with customers, local building officials and private contractors to reenergize electric service.
Customer Assistance
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
10/19/2018Duke Energy Florida providing financial support to communities and billing assistance for customers affected by Hurricane Michael
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 16, 2018 /PRNewswire/ -- Duke Energy today said it would provide flexible bill payment arrangements to customers experiencing financial hardship due to Hurricane Michael.
In addition, the company will waive late-payment charges for up to two months for customers who experienced significant property damage.
The company also will hold bills for certain customers in the hardest-hit counties to allow those customers to focus on more immediate concerns.
"Many of our customers were impacted by Hurricane Michael and will experience financial difficulty in the days, weeks and possibly months ahead. We encourage affected customers to call us so we can offer flexible payment arrangements to assist them during this time of need," said Lesley Quick, Duke Energy's vice president of revenue services.
Customers who need assistance or have questions can call Duke Energy at the following numbers:
The company recently awarded almost $350,000 to relief organizations in Florida, and also is matching donations, dollar-for-dollar, from Duke Energy employees.
Today, 3,000 repair workers continue to restore power to Duke Energy customers on the Florida Panhandle. About 10,000 customers remained without power as of 1 p.m.
Customers can view an online map that provides the most current estimated power restoration times:
https://www.dukeenergyupdates.com/michael/florida/florida-restoration-timeline
Below is the latest power restoration information, by geographical zone.
Duke Energy currently is unable to provide an estimated power restoration time for Bay County and Dog Island. The company is working hard to determine that information as soon as possible. Many parts of this area are difficult to access or totally inaccessible. Some areas will require extensive reconstruction of the electric system.
Visit https://www.duke-energy.com/outages for details.
More information
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SOURCE Duke Energy
Article Date
10/16/201810/16/2018 - Duke Energy pilot program will expand electric vehicle charging options across South Carolina
Duke Energy pilot program will expand electric vehicle charging options across South Carolina
Source: PR Newswire
GREENVILLE, S.C., Oct. 16, 2018 /PRNewswire/ -- As new electric vehicles (EV) enter the market and strong sales growth continues nationwide, Duke Energy has proposed an electric transportation (ET) pilot program that will allow South Carolina to join other states in deploying EV infrastructure to meet the needs of this growing market.
"Electric vehicles are coming to South Carolina, but more investment is needed to grow the adoption of this evolving technology and the benefits it brings to the state," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "We must prepare for this by providing for and better understanding the electrical needs of this growing population."
The proposed $10 million pilot consists of four programs designed to research and better understand the effects of increasing adoption of electric transportation on Duke Energy's electric system, the behavior of customers and the potential financial and environmental benefits to the state of South Carolina. They include:
"Lack of charging stations is commonly cited as a barrier to purchasing an EV," said Lang Reynolds, Duke Energy's manager for electric transportation initiatives. "That's why our proposed pilot programs are designed to install a foundational level of fast charge infrastructure and better understand the effects of increasing adoption of electric transportation."
The estimated cost of the pilot is about $10.4 million over the proposed initial three years of the programs. The pilot must be approved by the Public Service Commission of South Carolina (PSCSC) before it can be offered to customers.
Visit the PSCSC website for additional information on the proposed Duke Energy Carolinas and Duke Energy Progress pilot programs.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact:
Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/16/201810/16/2018 - Duke Energy closing in on remaining Carolinas power outages after Tropical Storm Michael
Duke Energy closing in on remaining Carolinas power outages after Tropical Storm Michael
Source: PR Newswire
CHARLOTTE, N.C., Oct. 16, 2018 /PRNewswire/ -- Duke Energy expects to restore power by tonight to most of the remaining North Carolina and South Carolina customers impacted by Tropical Storm Michael late last week.
Less than 8,000 customers in North Carolina's Caswell, Guilford, Rockingham and Wake counties remained without power as of 9 a.m. today. Duke Energy plans to restore power to most customers, whose properties can receive power, by 11:45 p.m.
Crews have restored power to more than 1 million Carolinas customers since the powerful storm struck the region last Thursday – one day after ripping through the Florida Panhandle, initially as a category 4 hurricane packing 155 mph winds.
More than 10,000 repair workers, including power line technicians and other specialists, have been working long hours in the Carolinas.
The largest number of Carolinas outages occurred in North Carolina, where damage to Duke Energy's electric system was widespread and extensive.
To date, crews have replaced nearly 800 utility poles and 350 transformers, and restrung 2,300 spans of power line. (One span is the length of a power line between two utility poles.)
"We thank all of our customers for their patience during the past five days," said Duke Energy incident commander Rufus Jackson. "It's been a challenging month-long period for our customers and employees, who have endured back-to-back historic storms. We appreciate everyone for working together to get our communities back to normal. We'll continue working as quickly as possible until everyone's power is safely restored."
Duke Energy asks customers without power to turn switches to the "off" position on as many appliances and electronics as possible. That step facilitates power restoration by reducing the immediate demand on power lines when power is restored. Once power is restored, the company asks customers to wait a few minutes before turning on those appliances and electronics.
Power restoration information, by geographical zone, is available at:
https://www.dukeenergyupdates.com/michael/carolinas/hurricane-michael-restoration-in-the-carolinas
Latest outage numbers can be found here. Information about how to report a power outage also can be found at that link.
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SOURCE Duke Energy
Article Date
10/16/2018Duke Energy announces plans for new renewable energy program in South Carolina
Source: PR Newswire
GREENVILLE, S.C., Oct. 15, 2018 /PRNewswire/ -- Duke Energy has proposed a new program to expand renewable energy options for its commercial and industrial customers in South Carolina.
The proposed Green Source Advantage program will provide large nonresidential customers the option to secure significant amounts of solar or other renewable energy to satisfy their sustainability or other clean energy goals.
The program will provide Duke Energy's South Carolina large business customers an opportunity to participate in a renewable energy program where they receive bill credits for energy produced by a solar site not located on the customers' premises. The program also enables customers to retain the renewable energy certificates (RECs) produced by the facility.
"We've received significant interest from our large commercial and industrial customers in offering programs that help them meet their sustainability goals," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "The Green Source Advantage program will leverage renewable energy options to do just that."
The program must be approved by the Public Service Commission of South Carolina (PSCSC) before it can be offered to customers.
If approved, the program would provide up to a total of 150 megawatts (MW) of reserved renewable energy capacity. From that 150 MW, 113 MW of capacity will be reserved for customers of Duke Energy Carolinas, which primarily serves the Upstate of South Carolina, and 37 MW of capacity will be reserved for customers of Duke Energy Progress, primarily serving the Pee Dee region including Florence and Sumter counties.
Participation in the program will be on a first-come, first-served basis. Participating customers must be located in the same utility service territory as the facilities providing the renewable energy, but those facilities can be located in either North Carolina or South Carolina.
Visit the PSCSC website for additional information on the proposed programs.
The Green Source Advantage program builds on policy efforts in South Carolina to grow renewable energy.
As a result of legislation passed in 2014 – commonly known as Act 236 -- Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. In 2017, South Carolina jumped to No. 8 in the country for the amount of solar installed during the year.
Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and solar rebate offerings. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.
Duke Energy also launched a Shared Solar Program this summer that allows customers to participate in the renewable marketplace without installing solar panels at their homes or businesses.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/15/2018Power restored to more than 900,000 Duke Energy customers in the Carolinas 48 Hours after Tropical Storm Michael passes
Source: PR Newswire
CHARLOTTE, N.C., Oct. 13, 2018 /PRNewswire/ -- About 1.1 million customers in the Carolinas were affected by power outages from Tropical Storm Michael. As of Saturday afternoon, that number was down to 175,000.
At the height of the storm Thursday, about 554,000 customers were without power – the peak number during the event.
"We have more than 10,000 people working to restore power," said Duke Energy Storm Director Rufus Jackson. "We are grateful to our customer for their patience after enduring two major storms in the past month. We have restored nearly one million outages in the two days since the storm passed, and we won't rest until everyone is back."
Jackson added that all Carolina-based line workers have been responding to the storm since the beginning. They have been joined by crews from Indiana, Kentucky, Missouri, New York, Ohio and Texas.
The Triad area of North Carolina took the toughest blow from Tropical Storm Michael, with Guilford, Rockingham, Alamance and Caswell counties among the hardest hit.
Power restoration information, by geographical zone, is available at:
https://www.dukeenergyupdates.com/michael/carolinas/hurricane-michael-restoration-in-the-carolinas
Power line safety
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/13/201810/13/2018 - Duke Energy Florida updating power restoration times to customers impacted by Hurricane Michael
Duke Energy Florida updating power restoration times to customers impacted by Hurricane Michael
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 13, 2018 /PRNewswire/ -- Duke Energy continues to update restoration times for the 20,000 remaining customers without power in the Florida Panhandle.
Affected customers can access an online map that will give real-time information as restoration times are updated.
More than 4,500 transmission, vegetation and lineworkers are working the Panhandle and hardest hit areas to restore service.
The hurricane damaged numerous electric transmission and distribution facilities, including substations, utility poles, power lines and other key system components – all of which will need to be repaired or replaced before power can be restored to individual customers.
Below are power restoration details by geographical zone.
Zone 1 – Taylor, Madison, Hamilton, Suwannee, Lafayette, Dixie and Gilchrist counties. Individual power restoration times are available at https://www.duke-energy.com/outages
Zone 2 – Jefferson and Leon counties. Estimated power restoration time is 11:59 p.m. tonight. Individual power restoration times will be updated as they become available. Visit https://www.duke-energy.com/outages for details.
Zone 3 – This zone (described below) experienced significant, widespread damage. Duke Energy crews are assessing damage and making repairs as conditions allow. Some areas are difficult to access or totally inaccessible due to road damage, downed trees and large amounts of debris.
Zone 4 – Bay and Gulf counties. This zone is where the center of the hurricane made landfall, causing massive destruction. Many parts of this zone are difficult to access or totally inaccessible. Some areas will require extensive reconstruction of the electric system. Duke Energy currently is unable to provide an estimated power restoration time for this zone. The company is working hard to determine this information as soon as possible.
Duke Energy's transmission system in this zone experienced extensive damage. Many roads are impassable because they have been either washed away or covered with downed trees and storm debris – making it difficult to access many sections of the zone.
More information
Power line safety
High-water safety
(NYSE: DUK)
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/13/201810/13/2018 - Duke Energy provides information about power restoration for Florida customers impacted by Hurricane Michael
Duke Energy provides information about power restoration for Florida customers impacted by Hurricane Michael
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 12, 2018 /PRNewswire/ -- Duke Energy tonight provided additional information about power restoration for Florida customers impacted by Hurricane Michael.
Damage assessment and repairs to the electric system are continuing in all areas that crews are able to access.
The hurricane damaged numerous electric transmission and distribution facilities, including substations, utility poles, power lines and other key system components – all of which will need to be repaired or replaced before power can be restored to individual customers.
Below are power restoration details by geographical zone.
Zone 1 – Taylor, Madison, Hamilton, Suwannee, Lafayette, Dixie and Gilchrist counties. Individual power restoration times are available at https://www.duke-energy.com/outages
Zone 2 – Jefferson and Leon counties. Estimated power restoration time is 11:59 p.m., Saturday, Oct. 13. Individual power restoration times will be updated as they become available. Visit https://www.duke-energy.com/outages for details.
Zone 3 – This zone (described below) experienced significant, widespread damage. Duke Energy crews are assessing damage and making repairs as conditions allow. Some areas are difficult to access or totally inaccessible due to road damage, downed trees and large amounts of debris.
Zone 4 – Bay and Gulf counties. This zone is where the center of the hurricane made landfall, causing massive destruction. Many parts of this zone are difficult to access or totally inaccessible. Some areas will require extensive reconstruction of the electric system. Duke Energy currently is unable to provide an estimated power restoration time for this zone. The company is working hard to determine this information as soon as possible.
Duke Energy's transmission system in this zone experienced extensive damage. Many roads are impassable because they have been either washed away or covered with downed trees and storm debris – making it difficult to access many sections of the zone.
More information
How to report a power outage
Power line safety
High-water safety
(NYSE: DUK)
Contact: 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/13/201810/12/2018 - Duke Energy provides information about power restoration for Carolinas customers following Tropical Storm Michael
Duke Energy provides information about power restoration for Carolinas customers following Tropical Storm Michael
Source: PR Newswire
CHARLOTTE, N.C., Oct. 12, 2018 /PRNewswire/ -- Duke Energy today provided information about power restoration for North Carolina and South Carolina customers impacted by Tropical Storm Michael.
Damage assessment and repairs to the electric system are under way in all areas.
Power restoration information, by geographical zone, is available at:
https://www.dukeenergyupdates.com/michael/carolinas/hurricane-michael-restoration-in-the-carolinas
Power line safety
(NYSE: DUK)
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/12/201810/11/2018 - Duke Energy restores power to 180,000 customers in Carolinas following Tropical Storm Michael
Duke Energy restores power to 180,000 customers in Carolinas following Tropical Storm Michael
Source: PR Newswire
CHARLOTTE, N.C., Oct. 11, 2018 /PRNewswire/ -- Duke Energy has restored power to 180,000 customers in North Carolina and South Carolina following Tropical Storm Michael.
Power line safety
High-water safety
(NYSE: DUK)
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/11/2018Duke Energy assessing massive damage in Florida Panhandle following Hurricane Michael
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 11, 2018 /PRNewswire/ -- Duke Energy crews today are using helicopters, drones, boats, trucks and foot patrols to assess catastrophic damage to parts of the company's electric system on the Florida Panhandle in the wake of powerful Hurricane Michael.
Eighty percent or more of Duke Energy's customers in Bay, Franklin, Gulf, Jefferson and Wakulla counties lost power Wednesday as the storm roared on shore as a category 4 hurricane – packing winds of 155 mph and a historic storm surge that demolished or severely damaged thousands of homes, businesses and other structures.
An estimated total of 31,000 Duke Energy Florida customers lost power due to the hurricane.
Damage assessment and repairs to the electric system are underway in areas that crews are able to access.
"Our heart goes out to our customers and the dozens of devastated communities impacted by Hurricane Michael," said Luis Ordaz, Duke Energy Florida's incident commander.
"Duke Energy will work as quickly as possible to safely restore power – and, in many cases, rebuild the electric system – as an important first step to helping our customers and communities begin what will be a long and difficult recovery period," Ordaz said.
The storm damaged numerous electric transmission and distribution facilities, including substations, utility poles, power lines and other key system components – all of which will need to be replaced or repaired before power can be restored to individual homes and businesses.
Duke Energy's aerial and ground assessment in heavily damaged, hard-to-reach areas will determine where the company will deploy repair crews and equipment, and how long repairs will take.
The company's first priority is restoring power to the surviving critical infrastructure – local emergency centers, police and fire stations, hospitals, water treatment plants, other public health and safety facilities, and schools.
How to report a power outage
Customers who experience a power outage can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Power line safety
High-water safety
For a "Hurricane Kit Checklist," and important safety information visit www.ready.gov. In addition, tips on what to do before, during and after a storm can be found at www.duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
(NYSE: DUK)
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SOURCE Duke Energy
Article Date
10/11/201810/10/2018 - Duke Energy to invest $500 million in battery storage in the Carolinas over the next 15 years
Duke Energy to invest $500 million in battery storage in the Carolinas over the next 15 years
Source: PR Newswire
CHARLOTTE, N.C., Oct. 10, 2018 /PRNewswire/ -- Duke Energy's advancement of battery energy storage technologies in the Carolinas includes $500 million of projects in the company's 15-year forecast – continuing the company's industry-leading deployment of the technology.
"Duke Energy is at the forefront of battery energy storage, and our investment could increase as we identify projects that deliver benefits to our customers," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "Utility-owned and operated projects in North Carolina and South Carolina will include a variety of system benefits that will help improve reliability for our customers and provide significant energy grid support for the region."
In the company's recent Integrated Resource Plan (IRP), Duke Energy outlined plans to deploy $500 million in battery storage projects in the Carolinas over the next 15 years – equal to about 300 megawatts of capacity. Combining battery storage from all utilities, North Carolina has only about 15 megawatts of battery storage capacity in operation, and far less in South Carolina.
As the grid operator, Duke Energy can maximize the versatility of storage beyond storing and dispatching of energy to include other customer and system benefits such as system balancing and deferral of traditional grid upgrades.
This week, the company filed for a Certificate of Public Convenience and Necessity with the North Carolina Utilities Commission for a solar facility in the Hot Springs community of Madison County as part of a microgrid project.
The Hot Springs Microgrid project will consist of a 2-megawatt (AC) solar facility and a 4-megawatt lithium-based battery storage facility. The microgrid will provide a safe, cost-effective and reliable grid solution for serving the Hot Springs area, and provide energy and grid support to all customers. The project will defer ongoing maintenance of an existing distribution power line that serves the remote town.
The Hot Springs project is part Duke Energy's Western Carolinas Modernization Project, which involves on-going conversations with community partners to help advance a cleaner energy future for the region. It includes closing a half-century-old, coal-fired power plant in Asheville in 2019. The plant will be replaced with a cleaner natural gas-fired plant and distributed energy resources like solar power and battery storage.
Other Projects
In addition to battery storage projects planned or operating in Florida, Indiana, Ohio and Texas, Duke Energy is also operating and pursuing other projects in the Carolinas.
In the city of Asheville, a 9-megawatt lithium-ion battery system will be placed at a Duke Energy substation site in the Rock Hill community – near Sweeten Creek Road. The battery will primarily be used to help the electric system operate more efficiently and reliability for customers.
In Haywood County, Duke Energy has an innovative zinc-air battery installation that was recently highlighted nationally. The 95-kilowatt-hour zinc-air battery and 10-kilowatt solar installation serving a communications tower on Mount Sterling in the Smoky Mountains National Park has been operating for more than a year.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
10/10/2018Duke Energy announces executive rotations across the company
Source: PR Newswire
CHARLOTTE, N.C., Oct. 9, 2018 /PRNewswire/ -- Duke Energy today announced six executive transitions intended to further advance the company's customer-focused strategy and broaden leadership capabilities across the enterprise.
In North Carolina, Stephen De May, senior vice president of Tax and Treasurer for Duke Energy, has been named president of Duke Energy North Carolina.
De May, 56, succeeds David Fountain, who will rejoin the company's Office of General Counsel as senior vice president, legal, chief ethics and compliance officer and corporate secretary.
De May will be responsible for advancing the company's regulatory initiatives, as well as managing state and local regulatory and governmental relations, economic development, community affairs, water strategy, hydroelectric licensing and lake services.
In his new role, Fountain will oversee communications with the Board of Directors and ensure they are apprised of corporate governance and compliance matters. He will also be responsible for corporate legal issues, such as employee relations, mergers and acquisitions and disclosures, and fostering an accountable, transparent and ethical culture.
"Stephen will be a powerful advocate for our customers' best interests and build on Duke Energy's long-standing commitment to deliver safe, reliable, affordable and cleaner generation across the state," said Lloyd Yates, executive vice president, customer and delivery operations, and president, Carolinas region. "His nearly 40 years in North Carolina, deep financial knowledge and thoughtful approach to stakeholder engagement have prepared him well for this important role."
De May joined the company in 1990 as a director of the company's former real estate development business, Crescent Resources. Since 1994, he has served in a variety of leadership positions of increasing responsibility, including in corporate finance, energy and environmental policy, investor relations and risk management. In 2007, De May was named the company's treasurer and in early 2016, he also began overseeing the corporate tax function. He graduated from the University of North Carolina at Chapel Hill with a Bachelor of Arts degree in political science and a Master of Business Administration degree from the McColl Graduate School of Business at Queens University of Charlotte.
Fountain, 51, joined the company in 2000 as an associate general counsel, providing support for the merger that formed Progress Energy. He moved into various leadership roles in the legal organization, managing significant transactions, nuclear matters and environmental issues. In 2009, he was named vice president of Progress Energy's legal department, and prior to his current role, he served as senior vice president of enterprise legal support for Duke Energy.
"David has demonstrated steadfast dedication to our North Carolina customers over the past three years," said Yates. "He led us in the aftermath of two of the state's most devastating hurricanes – Matthew and Florence, advocated for a constructive settlement in the recent rate case, and introduced the Power/Forward grid improvement program, which will deliver significant value for customers across the state," said Yates.
Karl Newlin, currently senior vice president of Corporate Development, will take on an expanded role, becoming senior vice president Corporate Development and Treasurer.
Before assuming his current position in June 2018, Newlin, 49, served as senior vice president and chief commercial officer for Duke Energy's natural gas business. Newlin joined Piedmont Natural Gas in 2010, focused on managing the company's strategic functions and business development opportunities. He also served as chief financial officer for Piedmont prior to Duke Energy's acquisition of the company in 2016.
Joni Davis, currently vice president of marketing and customer engagement, will become vice president and Chief Diversity Officer. Davis, 54, will strengthen diversity in the company's recruiting pipeline, workforce and leadership team, as well as in the communities the company serves.
Davis joined Duke Energy in 1985 as a management trainee. She has led teams in customer services, corporate communications, marketing communications, and government and community relations. She also previously served as vice president of large account management, focused on building and maintaining relationships and services to the company's largest customers.
Sasha Weintraub, currently senior vice president of Customer Solutions, will become senior vice president and chief commercial officer – natural gas. Weintraub, 48, will lead the gas commercial operations, which includes supply, wholesale marketing, transportation and pipeline services, field customer service, sales and delivery, and business development.
Weintraub joined Progress Energy in 1999 and held various leadership roles, including director of business operations and strategic planning. He also served as director of coal marketing and trading and, following the Duke Energy/Progress Energy merger in July 2012, he was named vice president of fuels and systems optimization.
Swati Daji, currently senior vice president and Chief Procurement Officer, will assume the role of senior vice president of Customer Solutions. Daji, 53, will be responsible for aligning customer-focused products and services to deliver a personalized end-to-end customer experience that positions Duke Energy for long-term growth. Her duties will include retail programs, enhanced basic services initiative, rate design and analysis, customer regulatory strategy and analytics, and data analytics.
Daji joined the company in 1991 as a financial analyst for Duke Power. From 1998 to 2004, she held a variety of management positions in the finance organization. Before assuming her current position, Daji served as Duke Energy's senior vice president of fuels and systems optimization and, prior to that, served as vice president, global risk management and insurance, and chief risk officer.
All of the leadership changes will be effective Nov. 1, 2018.
"These leaders bring significant experience and deep knowledge to their new roles, which will help us achieve our strategic goals and continue to enhance our focus on our customers," said Lynn Good, Duke Energy's chairman, president and CEO.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: 800.559.3853
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SOURCE Duke Energy
Article Date
10/9/2018Duke Energy urges Florida customers to prepare for Hurricane Michael
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 8, 2018 /PRNewswire/ -- As forecasts increasingly predict that Hurricane Michael will impact Florida, Duke Energy is preparing for the storm and urges customers to do the same.
Hurricane Michael is forecasted to be a category 3 at landfall with 120 mph winds, life-threatening storm surge and heavy rainfall.
Duke Energy expects damage to its infrastructure which might result in extended power outages as the storm continues to strengthen and heads closer to Florida. The Florida governor has declared a state of emergency in advance of the hurricane.
"Hurricane Michael is intensifying and poses a significant threat to the Florida Panhandle and will affect west central Florida," said Duke Energy senior meteorologist Max Thompson. "Some of our most populated service areas, such as Pinellas and Pasco counties, might experience tropical storm-force winds and experience outages. We join state officials in asking everyone to take this storm seriously.
"Duke Energy customers in the projected path of this storm could see impacts and should make plans now to prepare their homes and families. We also ask our customers for their patience as outages are expected, and might take time to restore." Thompson said.
Duke Energy has a detailed storm response plan in place.
In advance of the hurricane, Duke Energy is moving power utility crews and resources so they are pre-staged and ready to help restore power as soon as it is safe to do so.
In addition, line technicians and workers are checking equipment, supplies and inventories to ensure adequate materials are available to make repairs and restore power outages.
Restoring power after a storm can be extremely challenging for utility repair crews, as travel and work conditions can be impacted by high winds and widespread flooding – making repair work lengthy and difficult.
Before bulk power can be restored, crews first must assess the extent of damage – which can take 24 hours or more – to determine which crews, equipment and supplies are needed before repairs can begin.
Important reminders
The following tips can help you and your family stay safe if the power goes out:
Customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center (NHC), as well as state and local emergency management officials.
For a "Hurricane Kit Checklist," and important safety information visit www.ready.gov. In addition, tips on what to do before, during and after a storm can be found at www.duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Click here for a video demonstration and to read more about safety around power lines.
Outage reporting
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
High-water safety reminders
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 813.928.7263 | 24-Hour: 800.559.3853
Twitter: @DE_AnaGibbs
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SOURCE Duke Energy
Article Date
10/8/2018Duke Energy to announce third quarter 2018 financial results on Nov. 2
Source: PR Newswire
CHARLOTTE, N.C., Oct. 3, 2018 /PRNewswire/ -- Duke Energy will announce its third quarter 2018 financial results at 7 a.m. ET on Nov. 2, in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the third quarter 2018 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (www.duke-energy.com/investors) of Duke Energy's website or by dialing 877-627-6581 in the U.S. or 719-325-4837 outside the U.S. The confirmation code is 6905344. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 12, 2018, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 6905344. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
10/3/201810/3/2018 - Duke Energy Florida launches Park and Plug EV charging station pilot to encourage clean transportation
Duke Energy Florida launches Park and Plug EV charging station pilot to encourage clean transportation
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 3, 2018 /PRNewswire/ -- Duke Energy is installing up to 530 electric vehicle, or EV, charging stations within its Florida service area that will provide the necessary infrastructure network to promote and support the benefits of clean electric transportation.
The company is working with various communities and groups to install the units for public use in multi-unit dwellings, workplaces and locations with broad public access, such as sites with high traffic or in major corridors. Host sites are being selected through an application process. Additionally, 10 percent of the charging stations will be installed in income-qualified communities to make the benefits of cleaner electric transportation available to all customers.
"I'm excited about the opportunities the Park and Plug pilot program will provide for our customers throughout the state," said Catherine Stempien, Duke Energy Florida president. "We are bringing cleaner energy to Florida through 700 megawatts of new universal solar, and we are helping our customers to bring clean transportation to the state as well. We are committed to providing smarter, cleaner energy alternatives for all our customers."
Duke Energy selected NovaCHARGE LLC, a leading national EV charging solutions provider, to supply equipment, install the charging stations and integrate services for the Park and Plug pilot program. Selected host sites for the program will work directly with NovaCHARGE to have the equipment installed.
"We are truly honored to have been selected by Duke Energy Florida to manage the rollout of the new Park and Plug program," said Helda Rodriguez, NovaCHARGE president. "We look forward to working with Duke Energy and expanding EV infrastructure throughout Florida."
For additional information on the Park and Plug pilot program or to apply to become a site location, visit the website.
The pilot program is one of the many ways Duke Energy is paving the way to a smarter energy future in Florida. The company is also strategically investing $6 billion in a multiyear plan to build a stronger, smarter, cleaner, more resilient energy grid to deliver the reliability and security customers expect and deserve. This includes installing new smart meters for customers this fall, building or acquiring 700 MW of new solar power in the next four years and making grid improvements that are more resistant to storm damage and other physical and cyber threats.
Charge Florida study
Separately from the Park and Plug program, Duke Energy Florida recently launched the Charge Florida study to research and promote EV adoption. The three-year study will provide additional insight into the impact of residential EV charging on the electric grid.
Information will be collected with the help of approximately 200 Duke Energy Florida customer volunteers who are also electric vehicle drivers. Basic data such as the location, time frame and length of vehicle charging, and battery 'state-of charge' information will be compiled to produce a comprehensive dataset that will be used to plan for the integration of EV charging demand and to meet future needs.
Study volunteers will receive exclusive access to the advanced technology of the FleetCarma C2, a device used to monitor vehicle charging and battery use. FleetCarma will provide an online gateway to vehicle data and statistics, such as charging history, energy consumption, battery state-of-charge and total greenhouse gas emissions saved – information that will help empower customers to increase driving and charging efficiencies. After the first year of baseline data gathering, the program's second phase will encourage participants to modify their charging behaviors to reduce the impacts of EV charging on the grid. Volunteers will also receive compensation for their participation, as well as incentives to stay engaged in the program.
For more information on the study or to register, visit the FleetCarma website.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
10/3/201810/2/2018 - Duke Energy donates $100,000 to NC Farm Bureau Disaster Relief Fund in aftermath of Hurricane Florence
Duke Energy donates $100,000 to NC Farm Bureau Disaster Relief Fund in aftermath of Hurricane Florence
Source: PR Newswire
CHARLOTTE, N.C., Oct. 2, 2018 /PRNewswire/ -- Duke Energy today announced a $100,000 donation to support long-term relief for North Carolina farmers affected by Hurricane Florence, particularly in the state's hard-hit eastern region where devastating flooding caused extensive, widespread damage.
"Farmers are integrally woven into the fabric of eastern North Carolina and are vital to the state's economic wellbeing," said David Fountain, Duke Energy's North Carolina president. "The NC Farm Bureau provides critical support for farming families across North Carolina and we're glad to lend a hand in this effort."
The donation, made to the North Carolina Farm Bureau Disaster Relief Fund, will go toward nonprofit partners to address animal feed during the winter, farming families' mental health, stream and pasture restoration and financial counseling for farming families.
"In the wake of the storm, Duke Energy rolled in thousands of crews to restore power to farms across eastern North Carolina, and this donation continues their tradition of responding with speed and generosity," said Larry Wooten, President, NC Farm Bureau. "Duke Energy's support of farming families helps the agricultural community retain the local farmers who feed North Carolina."
The NC Farm Bureau Disaster Relief Fund is accepting donations from anyone interested in helping farming families and our rural neighbors recover from the storm. Donations can be made online at Florence Relief Fund, or by texting FARM to 91999. The Farm Bureau will also be collecting donations at the N.C. State Fair in Raleigh, Oct. 11-21. Duke Energy encourages North Carolinians to consider how they can help our eastern North Carolina neighbors recover from the storm.
In response to the storm, Duke Energy and subsidiary Piedmont Natural Gas have given $175,000 to the Red Cross and an additional $96,000 to local disaster relief efforts in the Carolinas, bringing the company's total contribution to $371,000.
Duke Energy Foundation
The Duke Energy Foundation, funded by Duke Energy shareholders, provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $30 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
The Duke Energy Foundation is part of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
North Carolina Farm Bureau
The North Carolina Farm Bureau Foundation, Inc. assists North Carolina farmers, agricultural organizations and agribusinesses in educating North Carolinians about the importance of agriculture to North Carolina's economy and enhancing understanding about issues affecting agriculture. The Foundation also provides financial support for economic development projects and other special initiatives that enhance the quality of life for rural North Carolinians. The Foundation is an affiliate of the North Carolina Farm Bureau Federation, Inc., North Carolina's largest farm advocacy organization.
NC Farm Bureau's home office is in Raleigh, NC with nearly 570,000 members statewide. Visit NC Farm Bureau on their website at ncfb.org and follow NC Farm Bureau on Facebook, Twitter or Instagram.
Contact: Meredith Archie, Duke Energy
Office: 919.546.2109 | 24-Hour: 800.559.3853
Contact: Lynda Loveland, NC Farm Bureau
Office: 919.782.1705
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SOURCE Duke Energy
Article Date
10/2/2018Top sustainable companies: Duke Energy makes it 13 years in a row
Source: PR Newswire
CHARLOTTE, N.C., Oct. 2, 2018 /PRNewswire/ -- Building on its long-running record of sustainability leadership, Duke Energy was recently named to the Dow Jones Sustainability Index (DJSI) for North America for the 13th consecutive year.
"Duke Energy employees continue to sharpen their focus on sustainability every year," said Cari Boyce, Duke Energy's senior vice president, stakeholder strategy and sustainability, and president, Duke Energy Foundation. "The Dow Jones Sustainability Index thoroughly looks at hundreds of companies. To be on the North America list for 13 straight years is a clear acknowledgment of Duke Energy's commitment to implementing best practices that best serve our customers and our communities."
Read a recent column by Boyce on Duke Energy's sustainability.
Since 1999, the DJSI has evaluated the sustainability of leading companies worldwide.
In selecting the top performers in each business sector, the DJSI reviews companies on several general and industry-specific topics related to economic, environmental and social dimensions.
Among the topics are corporate governance, innovation management, environmental policy, climate strategy and corporate citizenship.
The index is compiled annually by S&P Dow Jones and Zurich-based RobecoSAM (Sustainable Asset Management). More information is available at http://www.sustainability-index.com/.
Duke Energy has a long history of communicating about its environmental and sustainability efforts, including the 2017 Climate Report to Shareholders. https://www.duke-energy.com/_/media/pdfs/our-company/shareholder-climate-report.pdf
Since 2002, Duke Energy has published an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more.
The 2017 report is available online at sustainabilityreport.duke-energy.com.
Some of the highlights covered:
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
10/2/201810/1/2018 - Duke Energy economic development team honored by Site Selection magazine for 14 years straight
Duke Energy economic development team honored by Site Selection magazine for 14 years straight
Source: PR Newswire
CHARLOTTE, N.C., Oct. 1, 2018 /PRNewswire/ -- For the 14th consecutive year, Duke Energy has been named to Site Selection magazine's annual list of "Top Utilities in Economic Development."
In the magazine's September edition, it credits Duke Energy's economic development team and its successful collaboration with state and local partners for delivering more than $5.9 billion in capital investments and more than 12,460 new jobs in 2017. Duke Energy has been featured on the list every year since 2005.
In 2017, the company's economic development team launched new and improved economic development recruitment initiatives, adopted drone technology to help showcase industrial sites and grew the economic development team. In addition, a primary focus for the team last year was expanding Duke Energy's electric vehicle and industrial electrification programs.
"Electrification and economic development work hand-in-glove with each other when it comes to business recruitment and development," said Clark Gillespy, senior vice president for economic development at Duke Energy. "The two groups complement each other very well, and that's why we strategically placed them together."
The economic development team was involved in many wins in 2017, including such companies as Egger Wood Products, Pfizer and Corning Fiber. But one of the experiences for the Duke Energy team in 2017 was the effort to recruit a major automaker – Toyota Mazda – to its service territory. Though Duke Energy's territory was selected as a finalist, that project eventually landed in Huntsville, Ala.
"In the end, Toyota chose to build its facility elsewhere," said Stu Heishman, vice president of economic development, business recruitment and territorial strategies. "But the effort to win taught us indelible lessons about our resourcefulness and creativity, and it opened up new processes to accomplish what was once thought to be impossible — lessons that will no doubt serve us well in competitions to come."
This further highlights how Duke Energy's approach to economic development is unique in the utility industry.
"Economic development is a team sport and we are a key position player – working with many local and regional partners in different capacities throughout the economic development process to achieve success," Heishman said. "Our team is committed to the mission of adding capital investment and jobs in the communities across our seven-state service area."
To read the full article, go to https://siteselection.com/issues/2018/sep/top-utilities-2018-all-things-to-most-people.cfm.
For more information about Duke Energy's economic development programs, visit locationdukeenergy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/1/2018Duke Energy Foundation awards Florida nonprofits more than $500,000 in grants to enhance access to the arts, promote diversity
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 27, 2018 /PRNewswire/ -- Strengthening communities by promoting diversity and increasing access to the arts is among the many ways the Duke Energy Foundation proudly supports Florida. Grants totaling $504,568 have been awarded to 55 nonprofit organizations within the company's service territory.
Duke Energy's support is helping organizations fulfill their missions across the state. Top grant recipients include philanthropic programs that encourage Hispanic business development, access to the arts, filmmaking and community development.
"Research shows communities that embrace diversity and have strong cultural resources are healthier, better educated and safer," said Catherine Stempien, Duke Energy Florida president. "We are proud to support philanthropic programs that expand the accessibility of arts and culture and help strengthen the nonprofit community through professional development programs. These grants will positively impact the communities where our customers live and work and further our diversity and inclusion initiatives."
The largest grant recipients include:
"Duke Energy's continued funding for United Arts' Diversity Grants and Diversity Initiatives has been hugely impactful in the central Florida cultural sector, making the arts accessible to all in our community," said Flora Maria Garcia, president and CEO of United Arts of Central Florida. "This funding has significantly moved the needle across Lake, Osceola, Orange and Seminole counties by encouraging cultural organizations to create exciting, innovative and culturally diverse programming that appeals to diverse audiences. We are thrilled with the increase in funding this year that allows United Arts to create a new paid internship program for college students from ethnically diverse backgrounds who are interested in entering the field of arts administration."
The Foundation annually funds more than $33 million to communities throughout Duke Energy's seven-state service area. In 2017, the company donated more than $5 million to nonprofit organizations in Florida.
Additionally, Duke Energy's volunteer support solidifies its commitment to the communities it serves. Florida employees have also rolled up their sleeves to help their neighbors. Last year, employees volunteered more than 15,000 hours in their communities.
For additional information on Duke Energy's community giving programs, visit duke-energy.com/foundation.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $33 million annually in charitable gifts.
The Foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The Foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
The Duke Energy Foundation is part of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/27/20189/27/2018 - Southwest Ohio and Northern Kentucky environmental projects awarded more than $275,000 from Duke Energy
Southwest Ohio and Northern Kentucky environmental projects awarded more than $275,000 from Duke Energy
Source: PR Newswire
CINCINNATI, Sept. 27, 2018 /PRNewswire/ -- Duke Energy today awarded $276,600 for 16 projects designed to aid clean water, clean air and conservation initiatives across Greater Cincinnati.
"We're proud to support organizations implementing impactful programs that aim to protect, improve or restore natural resources," said Lynn Good, Duke Energy's chairman, president and CEO. "From expanding land restoration to protecting habitats to educating future leaders on environmental stewardship, these projects will make a positive difference on the environment and the community."
Good joined the grantees for a ceremony at Smale Riverfront Park's Anderson Pavilion earlier today. Each year, the Duke Energy Foundation funds programs across southwest Ohio and Northern Kentucky that emphasize land and wildlife habitat conservation efforts; protection of water quality, water-related resources and air quality; and environmental education for local teachers and students.
"Duke Energy continues to invest in cleaner energy, reducing our environmental footprint and employing groundbreaking technologies that offer customers more convenience and control over their energy use," said Amy Spiller, president of Duke Energy Ohio/Kentucky. "We also continually invest in community programs and projects that directly benefit this region and everyone who lives here."
The following are summaries of each of the 16 local projects that were awarded a combined $276,600 during this morning's ceremony.
The Dan Beard Council, the local administrative body of the Boy Scouts of America, will apply its Duke Energy grant toward the hands-on ecology and conservation programs offered at Camp Friedlander in Loveland, Ohio. The programs help scouts build a better connection to nature through exposure, education and practical experience.
Cardinal Land Conservancy, a regional land trust across seven southwest Ohio counties, will put its Duke Energy grant toward matching other funding to purchase a globally endangered habitat type in northeast Clermont County, Ohio. The new nature preserve will serve the surrounding communities by providing a hiking trail for passive recreation for all to enjoy.
Since 2005, the Children Inc. Service Learning Program has facilitated more than 5,000 projects with 220,000 students at more than 80 schools in our region. This Duke Energy grant will help enable Children Inc. to partner with Cincinnati Natural Center as well as expand its "service learning" strategy, which integrates meaningful community service with preparation and reflection to enrich students' learning experiences, teach civic responsibility and strengthen communities.
Cincinnati Parks' ReLeaf program aims to increase the planting of trees – and develop the tree canopy – across Cincinnati's 52 neighborhoods. The Duke Energy grant will be used to purchase hundreds of trees for residents to plant on their properties along streets where Cincinnati Parks cannot plant because of narrow rights of way. The benefits are clear: Trees remove pollutant elements from the air and help reduce energy use by providing shade.
Cincy Red Bike, which launched in 2014, will use its grant toward making bike share available to more neighborhoods and residents of Greater Cincinnati and, as a result, decrease single-occupancy vehicle trips. The expansion project will add 25 new bike share stations and 300 more bicycles, predominantly electric assist bicycles, which will aid users in traveling longer distances and mitigating the region's topographical challenges.
The Civic Garden Center is a regional horticultural resource whose mission is to build community through gardening, education and environmental stewardship. Duke Energy's grant will allow the Civic Garden Center to expand the reach of its Community Gardens program by helping the organization establish three garden hubs, implement conservation techniques and make hands-on conservation instruction available to all nearby community gardeners.
East Row Garden Club will use its Duke Energy grant to partner with the city of Newport, Ky., and property owners to increase the overall tree canopy in the city. In turn, the new trees will improve public health, lower energy costs for residents and continue to revitalize the community for years to come. The need to improve the canopy in Newport comes on the heels of a recent assessment conducted by a local urban forestry council. In addition, the city recently removed about 120 trees lost to emerald ash borer.
Foundation for Ohio River Education teaches people of all ages to become environmental stewards through hands-on programs. The Duke Energy grant will fund programs on the Ohio River for students to learn about water quality monitoring, habitat assessments and studies of aquatic organisms. In addition, the organization will use some of its grant money for a pilot program that provides training and materials for schools to conduct monitoring and cleanup activities at urban streams near their campuses.
Green Umbrella's Watershed Action Team will use the lessons learned from a pilot project at Gamble Montessori to help four more schools take important first steps toward building green infrastructure on their campuses. This includes installing rain gardens and trees to manage stormwater, which is the leading cause of water pollution in our region.
Launched in 2016, the nonprofit Lincoln Heights Comprehensive Development Corp. aims to transform Cincinnati's Lincoln Heights neighborhood, a historical African-American community, into a sought-after, safe, walkable, livable and sustainable "net zero" village. The organization will use the 2018 Duke Energy grant to continue what they started with its 2017 grant – training young adults as environmental champions, upgrading its bioswale, improving tree cover and more.
The Little Duck Creek Trail improvement project is a community-driven environmental restoration initiative at the Little Duck Creek Nature Preserve in Cincinnati's Madisonville neighborhood. The local redevelopment nonprofit will use the Duke Energy grant money for the targeted removal of invasive vegetation and hire an expert to provide grant consulting services that aim to secure state funding for additional environmental and conservation education programs for the Madisonville community.
Founded in 2012, this annual case competition brings together students from all majors to learn how to understand, analyze and solve interdisciplinary business challenges in the energy sector. This year's case will focus on attracting and retaining young talent to the energy industry given the aging workforce. Specifically, the industry's transformation to a smart grid and the demand for innovative solutions related to sustainability are critical for achieving this goal.
The Mill Creek, which was once designated the "most endangered urban river in North America," and its tributaries touch 37 political jurisdictions and more than 450,000 residents across Greater Cincinnati. The Duke Energy grant will support Mill Creek Alliance's efforts to provide environmental education and service programs to more than 1,000 students in schools in and around the watershed. It will also help fund environmental workforce development programs as well as a summer youth program for students interested in pursuing careers in a variety of environmental fields.
The Duke Energy grant will allow Thomas More College to fund undergraduate research in water quality at the college's 25-acre teaching and research field station along the Ohio River in Campbell County, Ky. Students will study the No. 1 threat to our region's aquatic resources: nonpoint source pollution – namely runoff from agricultural and urban areas. This work will ultimately lead to insights and solutions that reduce the adverse impacts of stormwater runoff.
Duke Energy will once again support for the Summer Environmental Research Training program that provides funds for K-12 teachers to team with UC researchers for six weeks of hands-on scientific research and instruction in air and water quality, biodiversity, waste management and other topics. The summer program aims to inspire teachers, enhance their scientific understanding, and help them develop curriculum modules and ideas to use in their classrooms.
Cincinnati Zoo & Botanical Garden will put its Duke Energy grant toward initiatives aimed at increasing the number and size of pollinator-friendly habitats in urban landscapes across Greater Cincinnati. The project will include finding and growing the best plants for pollinators, educating homeowners and landscape professionals through a best practices workshop and handbook, and creating two large pollinator gardens at key community sites.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $33 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
513.287.4152 | @DE_LeeF
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
9/27/20189/23/2018 - Sutton Plant Update: Initial tests show no harm to Cape Fear River from cooling lake water release
Sutton Plant Update: Initial tests show no harm to Cape Fear River from cooling lake water release
Source: PR Newswire
CHARLOTTE, N.C., Sept. 23, 2018 /PRNewswire/ -- Initial water tests from Duke Energy's L.V. Sutton Plant in Wilmington confirm that discharges from the cooling lake to the Cape Fear River are not harming water quality downstream.
As the company has previously reported, coal ash basins remain stable.
Water samples captured on Friday upstream and downstream of the Sutton plant site show little to no impact to river water quality. All results are well within the rigorous state water quality standards in place to protect the environment.
There is little difference in river water quality when comparing samples taken upstream above the facility and downstream below the facility. Complete test results and can be found here in the resources section at the bottom of the page.
As previously announced, cenospheres have moved into the Cape Fear River. The company has deployed booms to try to capture any other material before it leaves the lake. Cenospheres are lightweight, hollow beads comprised of alumina and silica that are a byproduct of coal combustion. Importantly, cenospheres have a different chemical makeup than fly ash, bottom ash, boiler slag and other materials, which are the focus of regulation and concern.
Cape Fear River levels near the site are beginning to recede slightly, but we expect the river level to be high for days. The company continues to post photos and video to illustrate the situation at the site.
On Friday, the flooded Cape Fear River began overtopping the north end of the cooling lake, known as Sutton Lake, eventually causing a number of smaller cuts and a larger breach on the southern end where water is flowing back into the river. As flood waters continue to travel through the lake, the smaller breaches are widening. Given the historic level of flooding, this incident is not expected to cause a measurable change to water levels in the area.
There are two coal ash basins at the site, which were being excavated and closed, and their dams remain stable. Water has filled the 1971 basin and the company believes ash is being contained by a steel wall. The 1984 basin has not been affected.
Initial repair plans
As soon as the river stops flowing over the north end of the cooling lake dam and work conditions are safe, teams will begin repairs to stop water exiting the south side of the lake. The objective is to retain as much water in the lake as possible to support future plant operations and recreation.
Sutton Lake is an 1,100-acre man-made reservoir constructed in 1972 to supply cooling water to the Sutton Power Plant. The cooling lake does not store coal ash.
Natural gas plant update
Flooding from the river and cooling lake resulted in about 12 inches of water throughout the Sutton combined-cycle gas plant footprint. The plant was safely shut down. Now plant operators are beginning to assess equipment and will complete those activities as the water recedes. Even without the plant operating, there is adequate electricity to serve customers.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/23/20189/22/2018 - Sutton Plant Update: Conditions remain stable
Sutton Plant Update: Conditions remain stable
Source: PR Newswire
CHARLOTTE, N.C., Sept. 22, 2018 /PRNewswire/ -- Aerial and ground level inspections of Duke Energy's L.V. Sutton Plant in Wilmington confirm that conditions at the plant are stable during ongoing historic flooding caused by Hurricane Florence.
The Cape Fear River continues to overtop the northern section of a cooling lake dam and is exiting through a breach on the southern end of the cooling lake impoundment. Given the historic level of flooding on the river, the water moving both into and out of the lake will not contribute to a measurable change to water levels in the area.
The company is bringing in additional construction materials from across the state to repair the breach as soon as flood waters recede and it is safe to do so.
On Friday, flood waters entered the natural gas plant prompting employees to safely shut down the facility. There is an adequate power supply to serve customers.
There are two coal ash basins at the site, and their dams remain stable. Ash in the 1971 basin that was being excavated is being contained by a steel wall, and the 1984 basin has not been affected.
With ash basins stable, engineers at the site are focused on a repair plan that also preserves as much water as possible in Sutton Lake to support future plant operations and recreation as it recovers from flooding.
As announced yesterday, cenospheres are moving into the Cape Fear River. Cenospheres are lightweight, hollow beads comprised of alumina and silica that are a byproduct of coal combustion. Importantly, cenospheres have different chemical makeup than fly ash, bottom ash, boiler slag and other materials, which are the focus of regulation and concern.
Water sampling is being conducted to determine if there is any impact to water quality and the company continues to provide regular updates to local, state and federal regulators. Water sampling, transportation and analysis in our state-certified lab takes approximately 24 hours to complete.
Duke Energy photos illustrate the situation at the site this morning. (See photos and videos under "Photo Downloads" at https://news.duke-energy.com/media-kit.)
Sutton Lake is an 1,100-acre man-made reservoir constructed in 1972 to supply cooling water to the Sutton power plant. The cooling lake does not store coal ash.
The company is already repairing the lined landfill, where most of the site's ash is disposed, following damage from the hurricane.
Update on H.F. Lee
As previously shared, flooding has caused the river to flow across three forested, inactive ash basins at the H.F. Lee site in Goldsboro. Those basins are normally dry, covered in forest and vegetation and do not impound water.
Ongoing visual inspections show that some cenospheres were released during the flooding. It also appears that only a small amount of coal ash has been displaced, similar to the impact in the wake of Hurricane Matthew in 2016. Crews will continue to monitor the situation.
Safe basin closure
The ash basins at Sutton are being excavated as part of an aggressive plan to safely close the basins across the state. Material at Sutton is being moved to a lined landfill on plant property that was applauded by environmental groups when the decision was announced.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/22/2018Duke Energy restoring power to remaining 26,000 customers after repairing nearly 1.8 million outages in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Sept. 21, 2018 /PRNewswire/ -- Duke Energy crews today focused on the remaining 26,000 customers without power as of 4:30 p.m., after restoring nearly 1.8 million outages in North Carolina and South Carolina during the past week in the aftermath of Hurricane Florence.
Duke Energy expects to restore power to 99% of customers whose properties are able to receive power by Sunday at 11:45 p.m.
See the latest map for estimated power restoration times by specific location. The latest outage numbers can be found here.
Almost all of the remaining impacted customers are located in North Carolina's coastal and inland areas that experienced severe flooding, multiple road closures and significant structural damage.
'We'll stand by these communities'
"We greatly appreciate the ongoing patience of our customers as our crews have worked as quickly as possible to safely restore power following this extremely powerful and damaging storm," said Duke Energy incident commander Howard Fowler. "We'll stand by these communities until everyone's power is restored."
"We're also very thankful for the kind words and other acts of kindness expressed by hundreds of customers to our workers in the field to show their gratitude during the power restoration process," Fowler said.
Situation at Sutton plant remains stable
Meanwhile, the situation remains stable at Duke Energy's L.V. Sutton plant in Wilmington, N.C., where Cape Fear River flooding conditions caused breaches in the cooling lake dam surrounding the cooling lake and caused the company to shut down the 625-megawatt natural gas plant located there. See news release issued earlier today.
Meter box damage might delay service
Estimated power restoration times apply to customers whose homes and businesses did not experience flooding or other damage to their meter box or electrical wiring – both customer-owned – which might prevent electric service restoration due to safety reasons.
For the safety of customers and the public, when a home's electrical service or equipment is damaged or flooded, Duke Energy will either disconnect the service or remove the meter. These steps will allow a customer-hired licensed electrician to safely and more quickly make necessary repairs. Once repairs are complete, an inspection by local officials is required. Duke Energy will reinstall a meter once the property passes the local inspection passes.
Communicators posting local updates
Duke Energy communicators have been posting the latest local information about power restoration at Hurricane Florence Journal: Reports from the field. Today will be their last entry.
The communicators also are posting on Twitter:
Jeff Brooks – @DE_JeffB
Grace Rountree – @DE_GraceR
Ana Gibbs – @DE_AnaGibbs
Chris Rimel – @ChrisRimel
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook. (NYSE: DUK).
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/21/2018Cape Fear River flooding damages Sutton Lake, causes safe shutdown of natural gas plant
Source: PR Newswire
CHARLOTTE, N.C., Sept. 21, 2018 /PRNewswire/ -- Cape Fear River flooding conditions at the company's L.V. Sutton plant in Wilmington, N.C. have caused breaches in the cooling lake dam surrounding the cooling lake and caused the company to shut down the 625-megawatt natural gas plant there.
The rising river continues to overtop the north end of the cooling lake dam, a surface that is protected by a layer of compacted soil and cement. Water is now exiting the cooling lake through breaches - one large and several smaller - on the southern end of the impoundment. The cooling lake water also flowed into the natural gas plant footprint. Duke Energy photos illustrate the situation at the site this morning. (See photos under "Photo Downloads" at https://news.duke-energy.com/media-kit.)
There are two coal ash basins at the site. The company believes that ash in the 1971 ash basin remains in place behind a steel wall separating the excavation area from the cooling lake. That wall is submerged by flood water, but the earthen portion of the basin dam is about two feet above water and stable. There is no visible ash in the cooling lake, and prior to flooding the ash level was at least five feet below the top of the steel wall.
Cenospheres are moving from the 1971 ash basin to the cooling lake and into the Cape Fear River. Cenospheres are lightweight, hollow beads comprised of alumni and silica that are a byproduct of coal combustion.
Water is more than 10 feet from the earthen dike of the 1984 basin. It is stable and has not been affected. The lined landfill, where most of the site's ash is disposed, has not been affected by the cooling lake and repairs from the hurricane are underway.
Site personnel are supplementing on-site supplies with large stone and other materials, engineering experts are moving to the site and personnel continue to develop and activate repair plans.
Given the historic level of flooding on the river, there is little to no chance that cooling lake water will contribute to a measurable change to water levels in the area.
Sutton Lake is an 1,100-acre man-made reservoir constructed in 1972 to supply cooling water to the Sutton power plant. The cooling lake does not store coal ash.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/21/2018Duke Energy reaches agreement with consumer groups on Edwardsport costs
Source: PR Newswire
PLAINFIELD, Ind., Sept. 21, 2018 /PRNewswire/ -- If approved by state utility regulators, Duke Energy Indiana customers will pay $30 million less for costs at the company's Edwardsport coal gasification power plant due to an agreement with some of the state's consumer groups.
The proposal, which was filed with state regulators today, is subject to Indiana Utility Regulatory Commission approval.
Participants in the agreement are the Indiana Office of Utility Consumer Counselor, the Indiana Industrial Group representing Duke Energy's Indiana customers, and Nucor Steel-Indiana.
The agreement will remain in effect until new rates are established in the company's next base rate case, which is expected to be filed in mid-2019 with rates effective in mid-2020. It addresses the pending Edwardsport filing at the commission and eliminates the need for future filings until the overall rate case.
"If approved, this agreement saves customers money and provides rate certainty between now and our next base rate review," said Duke Energy Indiana President Melody Birmingham-Byrd. "Importantly, Edwardsport's performance has been strong, setting a record of 464 days of continuous net generation through April 2018."
Edwardsport is a dual-fuel plant that can run on coal and natural gas, and in 2017 it was available for service 99 percent of the time when factoring in both fuels.
Because of the agreement's provisions, Duke Energy expects to take a pretax charge of approximately $32 million in the third quarter of 2018.
Key provisions of the proposed settlement include:
Background on the Edwardsport project
The 618-megawatt Edwardsport plant uses state-of-the-art technology to gasify coal, strip out pollutants, and then burn that cleaner gas to produce electricity.
This advanced, integrated gasification combined cycle technology significantly improves plant efficiency. The plant began commercial operation in June 2013.
About Duke Energy
Duke Energy Indiana's operations provide about 6,700 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy Indiana is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Angeline Protogere
Office:317.838.1338; 24-Hour: 800.559.3853
Analyst Contact: Michael Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
9/21/2018Duke Energy focuses on remaining 49,000 customers without power after repairing nearly 1.8 million outages in Carolinas
Source: PR Newswire
CHARLOTTE, N.C., Sept. 20, 2018 /PRNewswire/ -- Duke Energy crews today continued restoring power to North Carolina and South Carolina customers impacted by Hurricane Florence in hard-hit coastal and inland counties.
Crews have restored power to 1.7 million customers out of nearly 1.8 million total outages caused by the powerful storm.
As of 7 p.m., 49,000 customers – most of them in North Carolina – remained without power. The latest outage numbers can be found here.
Many of the remaining impacted customers are located in coastal and inland areas that experienced historic flooding, multiple road closures and significant structural damage.
Estimated restoration times
Duke Energy expects to restore power to most customers by Sept. 26 at 11:45 p.m. – but the vast majority will be restored sooner.
See the latest map for estimated power restoration times, by geographical area. Duke Energy will send customers – via text message – additional information, including updated restoration times, when available.
Meter box damage might delay service
Estimated power restoration times apply to customers whose homes and businesses did not experience flooding or other damage that might prevent electric service restoration – due to safety reasons.
Locations impacted by flooding or other damage might require repairs by a licensed electrician and/or inspection by local officials before electric service can be restored.
Damaged meter boxes are one example. Though Duke Energy owns the actual meter at each customer's home or business, the customer owns the meter box in which the meter is mounted. The company cannot restore power to a location whose meter box is damaged, for safety reasons.
Bill payment assistance
Duke Energy today also said it would provide flexible bill payment arrangements for customers experiencing financial hardship due to the storm.
In addition, the company will waive late-payment charges for up to two months for customers who experienced significant property damage.
Customers who need assistance or who have questions can call Duke Energy Carolinas (800.769.3766), or Duke Energy Progress (800.452.2777) to speak with a customer service representative.
"Large numbers of our customers were impacted by Hurricane Florence and will experience financial difficulty in the days and weeks ahead. We encourage affected customers to call us so we can provide flexible payment options to assist them during this time of serious need," said Lesley Quick, Duke Energy's vice president of revenue services.
Use caution near repair crews
North Carolina law requires drivers to move over one lane – when two or more lanes are available in each direction – to ensure the safety of roadside utility crews making powerline repairs, as well as ambulances and other emergency responders.
On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop. Violators could face fines.
Communicators posting local updates
Duke Energy communicators are posting the latest local information about power restoration at Hurricane Florence Journal: Reports from the field.
The communicators also are posting on Twitter:
Jeff Brooks – @DE_JeffB
Grace Rountree – @DE_GraceR
Ana Gibbs – @DE_AnaGibbs
Chris Rimel – @ChrisRimel
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook. (NYSE: DUK).
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/20/2018Rising Cape Fear River overtops cooling lake at Duke Energy's Sutton Plant
Source: PR Newswire
CHARLOTTE, N.C., Sept. 20, 2018 /PRNewswire/ -- The rising Cape Fear River is overtopping the cooling lake at the L.V. Sutton Plant in Wilmington, N.C.
Aerial photographs taken this morning of the cooling lake showed some erosion on the interior slope of the berm, a surface that is protected by a layer of compacted soil and cement. The company is using drones to monitor the situation.
Two large 24-inch valves have been opened to release water from the lake. Given the historic level of flooding on the Cape Fear River, there is little to no chance that lake water will contribute to a measurable change in water levels in the area.
Duke Energy photos illustrate the situation at the site this morning. (See photos under "Photo Downloads" at https://news.duke-energy.com/media-kit.) In addition, initial test results announced Wednesday demonstrate that lake water quality is good, so a release should not affect river water quality.
Sutton Lake is an 1,100-acre man-made reservoir constructed in 1972 to supply cooling water to the Sutton power plant. The cooling lake does not store coal ash.
"We have deployed numerous resources to assess the situation and have positioned repair materials so we can rapidly respond once the river conditions are safe to do so," said George Hamrick, a senior vice president with Duke Energy. "We continue to work closely with local emergency management and other officials as the situation evolves."
Sutton's ash basins are currently not affected by this incident. The 625-megawatt natural gas combined cycle plant at Sutton also continues to operate safely, and the company will evaluate continued plant operations. Sutton's 575-megawatt coal plant was retired in 2013 and the units were demolished in 2017.
Additional updates on Sutton and H.F. Lee
Importantly, Duke Energy's coal ash basins continue to operate safely. Earlier in the week, the historic rainfall caused several areas of significant erosion at the Sutton coal ash landfill currently under construction.
As previously shared, flooding has caused the river to flow across three forested, inactive ash basins at the H.F. Lee site in Goldsboro. Those basins are normally dry, covered in forest and vegetation and do not impound water. Visual inspections with the environmental regulator today show that some cenospheres were released during the flooding; cenospheres are lightweight, hollow beads comprised primarily of alumina and silica that are a byproduct of coal combustion. It also appears that only a small amount of coal ash has been displaced, similar to the impact in the wake of Hurricane Matthew. Crews will continue to monitor the situation.
Conditions at other Duke Energy plants are improving as rivers and flooding recede.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/20/20189/20/2018 - Piedmont Natural Gas helping storm-damaged communities rebuild with $30,000 American Red Cross donation
Piedmont Natural Gas helping storm-damaged communities rebuild with $30,000 American Red Cross donation
Source: PR Newswire
CHARLOTTE, N.C., Sept. 20, 2018 /PRNewswire/ -- Piedmont Natural Gas today announced a $30,000 donation to the American Red Cross to help communities recover and rebuild after Hurricane Florence. Funds will be distributed to the areas experiencing some of the worst devastation in eastern North Carolina, and will be used for immediate disaster relief, including food, shelter, supplies and volunteer deployment.
"We're preparing for long-term disaster response and recovery, which is why we're thankful for organizations such as Piedmont Natural Gas who are investing in their communities' recovery efforts," said Angela A. Broome Powley, regional chief executive officer for the American Red Cross Greater Carolinas Region. "This is a heartbreaking situation, but with support from organizations like Piedmont, the Red Cross can reach even more individuals who need help."
"Piedmont Natural Gas is committed to helping our communities emerge from this storm stronger than ever," said Barbara Ashford, director of community relations for Piedmont Natural Gas. "We're proud to support the Red Cross and urge our fellow North Carolinians to join us in aiding eastern North Carolina's recovery."
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Stacey Perrow
Office: 704.731.4102 I 24-hour: 877.348.3612
stacey.perrow@duke-energy.com
View original content to download multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-helping-storm-damaged-communities-rebuild-with-30-000-american-red-cross-donation-300716263.html
SOURCE Duke Energy
Article Date
9/20/20189/19/2018 - Piedmont Natural Gas advises customers on storm-damaged natural gas meters and appliances
Piedmont Natural Gas advises customers on storm-damaged natural gas meters and appliances
Source: PR Newswire
CHARLOTTE, N.C., Sept. 19, 2018 /PRNewswire/ -- Piedmont Natural Gas announced today that crews will begin canvassing neighborhoods to examine natural gas meters for signs of damage caused by Hurricane Florence. Damaged meters will be turned off and inspected and may be fully removed and replaced. Piedmont will notify customers whose natural gas service needs to be temporarily turned off until service can be safely restored.
Additionally, natural gas appliances damaged by Hurricane Florence will need to be inspected for safe operation by Piedmont or a licensed contractor before Piedmont can restore service. Appliances may need to be replaced if an inspection finds they have been damaged by floodwaters and cannot operate safely.
"Piedmont Natural Gas has designed our storm response with the safety of our communities and our employees as our first priority," said Keith Napier, director of natural gas operations for eastern North Carolina. "Although our natural gas system was relatively undamaged by the storm, we know many of our customers are dealing with incredible destruction. Our crews will be working diligently to restore safe, reliable natural gas service to help our communities begin to recover and rebuild."
To help ensure the continued safe and reliable operation of natural gas service to customers and communities impacted by Florence, Piedmont asks anyone affected by the storm to please follow these guidelines:
If water enters your home:
If your natural gas appliances are damaged by water:
If you suspect a natural gas leak (natural gas smells like rotten eggs):
Storm-related damage:
Call 811 before you dig:
Customers with immediate questions or concerns should call Piedmont Natural Gas at 800.752.7504. Additionally, customers can visit the company's website at piedmontng.com for additional information and storm-related updates.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Stacey Perrow
Office: 704.731.4102 I 24-hour: 877.348.3612
stacey.perrow@duke-energy.com
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SOURCE Duke Energy
Article Date
9/19/2018Duke Energy crews continue to focus on Carolinas' hardest-hit regions; power restored to nearly 1.5 million customers
Source: PR Newswire
CHARLOTTE, N.C., Sept. 18, 2018 /PRNewswire/ -- Duke Energy crews today continued making progress in restoring power to North Carolina and South Carolina customers impacted by Hurricane Florence, particularly in hard-hit coastal and inland counties.
Crews have restored power to nearly 1.5 million customers out of nearly 1.7 million customers who experienced an outage during the storm.
As of 8:30 p.m., 153,000 customers – most of them in North Carolina – remained without power. The latest outage numbers can be found here.
Many of the remaining impacted customers are located in coastal and inland areas that experienced historic flooding, multiple road closures and significant structural damage – making power restoration unusually challenging and time-consuming.
Duke Energy continues to move additional repair crews into those hard-hit areas. The company also has deployed special equipment specifically designed for use in restoring power in heavily flooded regions.
"Duke Energy has thousands of powerline technicians and other personnel working to safely restore power as quickly as possible in extremely difficult conditions," said Duke Energy incident commander Howard Fowler. "We greatly appreciate our customers' ongoing patience during what is understandably a highly stressful time for dozens and dozens of our impacted communities."
Estimated restoration times
Duke Energy expects to restore power to most North Carolina and South Carolina customers by Sept. 26 at 11:45 p.m. – but the vast majority will be restored sooner.
See the latest map for estimated power restoration times, by geographical area.
Duke Energy will send customers – via text message – additional information, including updated restoration times, when available.
Local updates from company communicators
Duke Energy communicators in the field are posting the latest local information about power restoration and related activities in communities most severely impacted by the storm at Hurricane Florence Journal: Reports from the field – and on Twitter:
Jeff Brooks – https://twitter.com/DE_JeffB -- "Trucks rolled through the supply yard picking up transformers, power lines and poles to rebuild the infrastructure that Hurricane Florence destroyed. Duke Energy estimates that crews will need to replace 500 miles of powerlines, 2,600 transformers and 4,400 power poles."
Grace Rountree – https://twitter.com/DE_GraceR – "Road closures, especially the closure of I-95, made travel difficult. We were rerouted several times in order to reach impacted communities. Portions of roadways and bridges were completely destroyed and our crews had to work around these damaged areas. ATVs, off-road vehicles and other special equipment helped crews gain access to local areas needing repairs."
Ana Gibbs – https://twitter.com/DE_AnaGibbs – "Some of our crew leads left at 6 a.m. and headed to the Duke Energy operations center in Marion the next county over. They poured over maps to overcome the challenge they again face today to find safe roadways to access areas isolated by flooding."
Chris Rimel – https://twitter.com/ChrisRimel – "As the Duke Energy team assessed damage to a transmission line using drones launched from a boat ramp, they saw the horses floundering in deep floodwaters and their owners trying to walk them to higher ground without success."
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook. (NYSE: DUK).
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/19/20189/18/2018 - Duke Energy estimates power restoration times for Carolinas customers following Hurricane Florence
Duke Energy estimates power restoration times for Carolinas customers following Hurricane Florence
Source: PR Newswire
CHARLOTTE, N.C., Sept. 17, 2018 /PRNewswire/ -- Duke Energy expects to restore power to most North Carolina and South Carolina customers impacted by Hurricane Florence by Sept. 26 at 11:45 p.m. – but the vast majority will be restored sooner.
"We're doing everything we can to safely restore power to every customer as quickly as conditions allow," said Duke Energy incident commander Howard Fowler. "We won't rest until the job is done."
See the latest map for estimated power restoration times, by geographical area.
Duke Energy will send customers – via text message – additional information, including updated restoration times, when available.
The estimated times apply to customers whose homes and businesses did not experience flooding or other damage that might prevent electrical service restoration.
Locations impacted by flooding or other damage might require repairs by a licensed electrician and/or inspection by local officials before electric service can be restored.
Repair crews working in hard-hit areas
Duke Energy crews already have restored power to 1.2 million customers of the 1.5 million customers who experienced an outage during the storm.
As of 11 p.m., 223,000 customers – most of them in North Carolina – remained without power. The latest outage numbers can be found here.
Many of the remaining impacted customers are located in largely inaccessible coastal areas that experienced historic flooding, multiple road closures and significant structural damage. (See photos under "Photo Downloads" at https://news.duke-energy.com/media-kit.)
Duke Energy (NYSE: DUK) continues to move additional repair crews into those hard-hit areas. More than 20,000 personnel are restoring power across the Carolinas – the company's largest storm response in the region ever.
24-Hour: 800.559.3853
View original content:http://www.prnewswire.com/news-releases/duke-energy-estimates-power-restoration-times-for-carolinas-customers-following-hurricane-florence-300714209.html
SOURCE Duke Energy
Article Date
9/18/2018Duke Energy outages down to more than 300,000 customers; 1.2 million already restored
Source: PR Newswire
CHARLOTTE, N.C., Sept. 17, 2018 /PRNewswire/ -- Duke Energy crews are fully focused on restoring power to the remaining 300,000 customers who lost electricity when Hurricane Florence rolled through the Carolinas.
As of 1 p.m. ET Monday, the company has experienced a total of 1.5 million outages throughout the storm event. Duke Energy has restored power to roughly 1.2 million.
Many of the remaining impacted customers are located in tough-to-access coastal areas that experienced historic flooding, multiple road closures and significant structural damage. The latest outage numbers can be found here.
"With many of the main and secondary roads closed, getting additional crews to the impacted areas has been a challenge," said Howard Fowler, Duke Energy incident commander. "We want all our customers in the hard-hit areas to know more help is coming to assist the crews already working in these areas."
Overall, Duke Energy has dispatched more than 20,000 personnel to restore power across the Carolinas – the company's largest storm response in the region ever.
Estimated power restoration times
To give customers as much information as possible, Duke Energy has established 12 separate areas for restoration across the Carolinas to provide targeted updates. A map showing these areas is being continuously updated. See the latest map for updates.
In addition, Duke Energy will send impacted customers updated information via text messages.
The company conducted some limited aerial inspections in some of the hard-hit areas late Sunday. However, improving weather conditions will aid assessments today. Still, full power restoration may take weeks, rather than days, due to the widespread damage and flooding.
Reporting outages and storm update:
Stay away from fallen or sagging power lines
High-water safety reminders
Safety information for extended power outages
Medical needs
Families who have special medical needs should continue to closely monitor their situations and call 911 if the situation becomes life-threatening.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/17/2018Duke Energy has restored power to more than 1 million customers out of 1.4 million total outages in wake of Florence
Source: PR Newswire
CHARLOTTE, N.C., Sept. 16, 2018 /PRNewswire/ -- Duke Energy has restored power to more than 1 million customers so far in North Carolina and South Carolina out of more than 1.4 million total power outages in the wake of what is now Tropical Depression Florence.
Some of the most challenging power restoration work remains ahead in currently inaccessible coastal areas that experienced massive flooding and structural damage.
Duke Energy this weekend moved crews and equipment as close as possible to those heavily impacted areas to enable comprehensive restoration work to begin as soon as conditions allow.
As of 4 p.m. today, 404,000 customers – 381,000 in North Carolina and 23,000 in South Carolina – remained without power. Latest outage numbers can be found here.
Additional outages are expected tonight as the storm continues to impact the Carolinas.
In 12 of North Carolina's hardest-hit counties, more than 75 percent of Duke Energy's customers have lost power: Beaufort, Bladen, Brunswick, Carteret, Columbus, Duplin, Jones, New Hanover, Onslow, Pender, Pitt and Robeson.
Duke Energy has dispatched more than 20,000 personnel to restore power. Their efforts are being hampered by severe flooding, road closures, wind gusts and storm debris in coastal and other areas of the Carolinas.
For example, vehicle access to many sections of Wilmington, N.C., and New Bern, N.C., remains impossible due to widespread flooding that has forced the closure of major highways and secondary roads.
Estimated power restoration times
With the slow-moving storm and massive damage in some areas, comprehensive damage assessments have been difficult to complete and power restoration times have been difficult to determine.
The company late today was able to conduct limited initial damage assessments by helicopter in some areas.
To give customers as much information as possible, Duke Energy has established 12 separate areas for restoration across the Carolinas to provide targeted updates. A map showing these areas will be continuously updated. See the latest map for the latest updates today.
In addition, Duke Energy will send impacted customers updated information via text messages.
In hard-hit areas, estimated restoration times will be determined after field crews first complete damage assessments. That process could take several days due to flooding and road closures.
In those areas, total power restoration might take weeks, rather than days, due to flooding and widespread damage to power lines, utility poles and other key components of the electric grid.
How to report power outages
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Storm updates
Stay away from fallen or sagging power lines
High-water safety reminders
Safety information for extended power outages
Medical needs
Families who have special medical needs should continue to closely monitor their situations and call 911 if the situation becomes life-threatening.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-has-restored-power-to-more-than-1-million-customers-out-of-1-4-million-total-outages-in-wake-of-florence-300713437.html
SOURCE Duke Energy
Article Date
9/16/2018Duke Energy continues to restore power across Carolinas; 830,000 back online already
Source: PR Newswire
CHARLOTTE, N.C., Sept. 16, 2018 /PRNewswire/ -- Duke Energy has restored power to more than 830,000 customers so far in North Carolina and South Carolina out of more than 1.25 million total outages caused by what is now Tropical Storm Florence.
Currently, 450,000 customers – 412,000 in North Carolina and 38,000 in South Carolina – remain without power as of 10 a.m. today. The company has 20,000 personnel working to restore power outages, including additional crews from about 25 states. Additional outages are expected today as the storm continues to affect the Carolinas.
Follow updated information
Latest outage numbers can be found here.
With the slow-moving storm and the massive damage in some areas, comprehensive assessments and restoration times have been difficult.
"Mobilizing our crews into the most affected areas has been one of our biggest challenges because of the rapidly changing road conditions due to flooding," said Howard Fowler, Duke Energy incident commander.
To give customers as much information as possible, Duke Energy has established 12 separate areas for restoration across the Carolinas to provide targeted updates. A map showing these areas will be continuously updated. Customers without power will be sent updated information via text messages. See the latest map.
"Duke Energy is providing our customers information as soon as it's available," said Barbara Higgins, the company's senior vice president and chief customer officer. "As the storm progresses, we'll be able to give more specific information about restoration efforts in cities and neighborhoods.
"Duke Energy greatly appreciates customers' patience as crews work as quickly and safely as possible," she added.
In hard-hit areas, estimated restoration times will be determined after field crews first complete damage assessments. That process could take several days due to road closures caused by severe flooding and storm debris, especially in the coastal areas of both states.
In those areas, total power restoration might take weeks, rather than days, due to widespread damage to power lines, utility poles and other key components of the electric grid.
How to report power outages
Storm updates
Stay away from fallen or sagging power lines
High-water safety reminders
Safety information for extended power outages
In dealing with extended outages, the company recommends:
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content to download multimedia:http://www.prnewswire.com/news-releases/duke-energy-continues-to-restore-power-across-carolinas-830-000-back-online-already-300713397.html
SOURCE Duke Energy
Article Date
9/16/2018Duke Energy ready for Hurricane Florence with largest Carolinas storm response ever
Source: PR Newswire
CHARLOTTE, N.C., Sept. 13, 2018 /PRNewswire/ -- Duke Energy has staged more than 20,000 professionals across North Carolina and South Carolina – ready to go to work to restore power once it is safe to do so in the wake of powerful Hurricane Florence.
Duke Energy's crews in the Carolinas have been joined by crews from Duke Energy's Indiana, Ohio, Kentucky and Florida utilities.
In addition, crews from other energy companies located in 18 other states – as far away as Texas and Minnesota, plus Canada – have traveled to the Carolinas in advance of the storm to assist Duke Energy crews after the storm passes.
This is Duke Energy's largest mobilization of resources ever in response to a severe-weather event in the Carolinas.
Below are Duke Energy's latest hurricane updates:
1 million to 3 million power outages projected
Power restoration could take weeks
Coal ash
Nuclear power plants
High water warnings
How to report power outages
Stay away from fallen or sagging power lines
Latest information on the web
Duke Energy (DUK)
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/13/2018As Hurricane Florence approaches Carolinas, Duke Energy announces $145,000 grant to support disaster response efforts
Source: PR Newswire
CHARLOTTE, N.C., Sept. 12, 2018 /PRNewswire/ -- Duke Energy is helping communities prepare ahead of Hurricane Florence with $145,000 in grants to the American Red Cross. The funds will support disaster response, including support for Red Cross shelters, volunteer training and mobilization of volunteers.
Hurricane Florence is forecasted to be a large and extremely dangerous storm system, which the company expects will cause widespread damage and power outages. Historical data and company experience indicate that total power restoration from a storm of this magnitude could take multiple days to several weeks – depending on the extent of damage and post-storm conditions, such as ongoing high winds and severe flooding, after the storm passes though the region.
"The Red Cross has activated our volunteers across the Carolinas to prepare for this brutal storm," said Barry Porter, regional executive for American Red Cross. "Duke Energy's generous donation ahead of the storm helps the Red Cross mobilize support to vulnerable communities and prepare for an extended period of relief work. During the decades of Red Cross disaster response in the Carolinas, Duke Energy consistently steps up to enable the Red Cross to do even more."
As a Red Cross Disaster Responder member, Duke Energy provides support for Disaster Relief, ensuring the Red Cross can pre-position supplies, secure shelters, maintain vehicles and train volunteers.
"Duke Energy knows how important it is to be ready before, during and after a major storm like Hurricane Florence," said Kodwo Ghartey-Tagoe, Duke Energy's state president in South Carolina. "The Red Cross understands that too, and that's why we've supported their efforts for a number of years by funding disaster volunteer training. Many of the volunteers heading into the storm this week are better trained to respond to disasters as part of our partnership, and we are proud to support the Red Cross in their critical mission."
"The Red Cross is a dedicated partner to our communities in need," said David Fountain, Duke Energy's North Carolina president. "As Duke Energy prepares our team and infrastructure for Hurricane Florence's widespread impacts, our donation will help the Red Cross prepare our neighbors and communities. These funds are critical for the Red Cross to serve the most heavily impacted areas of the storm."
As forecasts predict that Hurricane Florence is expected to significantly impact North Carolina and South Carolina, Duke Energy is preparing for the storm and urges customers to do the same. Additional information about Duke Energy's storm response efforts, safety tips and key storm updates can be found on dukeenergyupdates.com.
Visit redcross.org for helpful emergency preparedness information, including what to pack in an emergency kit and how to develop a family emergency plan.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic, 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/12/2018Piedmont Natural Gas advises customers of potential impacts from Hurricane Florence
Source: PR Newswire
CHARLOTTE, N.C., Sept. 11, 2018 /PRNewswire/ -- Piedmont Natural Gas today announced the activation of its Severe Weather Preparedness Plan in response to Hurricane Florence and has issued a list of safety recommendations for customers who experience flooding or any other damage to their natural gas equipment or appliances as the result of Hurricane Florence.
Piedmont's Severe Weather Preparedness Plan includes ensuring the availability of additional communication links and resources, adequately fueled vehicles for use by Piedmont personnel in impacted areas, the availability of appropriate equipment in the potential impact areas, and the preparation of its facilities for potentially high winds and flood conditions.
"The safety of our customers and our communities remains top priority for Piedmont Natural Gas as Hurricane Florence approaches the Carolinas," said Frank Yoho, executive vice president and president of Duke Energy's natural gas business. "Our experienced technicians already are working to prepare Piedmont's facilities for potential flooding, and we're asking all members of our communities to be aware of the natural gas safety recommendations listed here."
If water enters your home:
If your natural gas appliances are damaged by water:
If you suspect a natural gas leak (natural gas smells like rotten eggs):
Wind-related damage:
Call 811 before you dig:
Customers with immediate questions or concerns should call Piedmont Natural Gas at 800.752.7504. Additionally, customers can also visit the company's website at piedmontng.com for additional information and storm-related updates.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
9/11/2018Duke Energy urges Carolinas customers to prepare for dangerous Hurricane Florence
Source: PR Newswire
CHARLOTTE, N.C., Sept. 10, 2018 /PRNewswire/ -- As forecasts increasingly predict that Hurricane Florence is expected to significantly impact North Carolina and South Carolina, Duke Energy is preparing for the storm and urges customers to do the same.
The company expects widespread damage and power outages as Hurricane Florence is forecasted to be a large and extremely dangerous storm system, packing fierce winds and torrential rainfall.
Historical data and company experience indicate that total power restoration from a storm of this magnitude could take multiple days to several weeks – depending on the extent of damage and post-storm conditions, such as ongoing high winds and severe flooding, after the storm passes though the region.
"Hurricane Florence continues to strengthen and poses a significant threat to the Carolinas, possibly surpassing the damage seen from Hurricane Matthew in 2016 because of the potential for inland hurricane-force winds and a substantial amount of rainfall," said Duke Energy senior meteorologist Max Thompson.
"All Duke Energy customers in the Carolinas could see impacts from this storm and should make plans now to prepare their homes and families. We join state officials in asking everyone to take this storm seriously. We also ask our customers for their patience ahead of what will be a lengthy period of power restoration and recovery from this major storm," Thompson said.
The governors of North Carolina and South Carolina have declared states of emergency in advance of the hurricane.
Duke Energy has a detailed storm response plan in place.
In advance of the hurricane, Duke Energy is moving power restoration crews from its Indiana, Ohio, Kentucky and Florida utilities so that they are staged in the Carolinas and ready to help the company's Carolinas-based crews restore power as soon as it is safe to do so.
In addition, line technicians and workers are checking equipment, supplies and inventories to ensure adequate materials are available to make repairs and restore power outages.
The company also is working with the Southeastern Electric Exchange to secure additional crews from other energy companies to assist.
Restoring power after a massive storm can be extremely challenging for utility repair crews, as travel and work conditions can be impacted by high winds and widespread flooding – making repair work lengthy and difficult.
Before power can be restored, crews first must assess the extent of damage – which can take 24 hours or more – to determine which crews, equipment and supplies will be needed before repairs can begin.
Important reminders
The following tips can help you and your family stay safe if the power goes out:
Customers should stay tuned to local news for the latest advisories from the National Weather Service and National Hurricane Center (NHC), as well as state and local emergency management officials.
For a "Hurricane Kit Checklist," and important safety information visit www.ready.gov. In addition, tips on what to do before, during and after a storm can be found at www.duke-energy.com/safety-and-preparedness/storm-safety. A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
Click here for a video demonstration and to read more about safety around power lines.
Outage reporting
Before the storm hits, customers should note how to report power outages. Customers who experience an outage during the storm can report it by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
High water
In anticipation of the forecast of potential significant rainfall from Hurricane Florence, Duke Energy continues to lower lake levels by moving water along all river basins and operating our available hydro units.
The designs of the company's dams and current water levels determine the best way to move water at any given time.
If we receive significant rainfall, lake levels will rise much more quickly due to runoff.
High-water safety reminders
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/10/2018Duke Energy adding $600,000 to program that will help additional South Carolina families pay high seasonal energy bills
Source: PR Newswire
GREENVILLE, S.C., Sept. 5, 2018 /PRNewswire/ -- For 33 years, Duke Energy has partnered with employees and customers to lend a hand to those struggling to pay their energy bills. The company is reinforcing that commitment with an additional $600,000 contribution to its Share the Warmth program to help South Carolina customers pay their high seasonal energy bills.
Through the Share the Warmth program, the company works with more than 80 local agencies in the Duke Energy Carolinas service territory to aid qualified senior citizens, families and other customers with financial assistance. The company annually matches up to $500,000 in employee and customer contributions during the heating season.
"We are committed to providing affordable energy to all of our customers, but we know some struggle to keep their homes warm during the winter and cool during the summer," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "Traditionally, more customers have sought assistance with high energy bills in the winter, but these funds are being made available now to also assist with high summer energy bills."
The program is administered through local partner agencies in the Duke Energy Carolinas service territory, which primarily serves customers in the Upstate of South Carolina. Since the program's establishment in 1985, it has provided more than $35 million to those in need. Duke Energy offers similar energy assistance programs across all of its service territories.
"We are very thankful for our 30 year partnership with Duke Energy," said Kristi King-Brock, the executive director for AIM, a Share the Warmth partner agency in Anderson, S.C. "Their continued support of our work – and the infusion of these much needed funds – will allow AIM to respond to the basic needs of even more families in our community by providing energy assistance."
"Each winter, families in poverty have to try to balance their meager budgets between feeding their families and keeping them warm as temperatures drop," said Traci Kennedy, director of TOTAL Ministries, a Share the Warmth partner agency in Spartanburg, S.C. "With these funds, Spartanburg families can keep warm and feed their families in the colder months."
About Share the Warmth
Share the Warmth was established to assist Carolinas residents in need with high seasonal energy bills and is funded by its customers, employees and the Duke Energy Foundation. Contributions are matched dollar-for-dollar up to $500,000.
Funding for Share the Warmth comes from our customers, employees and the Duke Energy Foundation. Customers may donate by the postage paid envelope or paperless billing customers may donate online when paying their bill. The Duke Energy Foundation will then match up to $500,000 in customer contributions during the heating season.
The additional funds to the Share the Warmth program were provided following commitments made to South Carolina in briefings to the Public Service Commission and in coordination with the Office of Regulatory Staff within the context of the 2016 Duke Energy and Piedmont Natural Gas merger.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Carolinas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/5/20188/31/2018 - Duke Energy Kentucky requests first regulatory review of its natural gas distribution rates in nine years
Duke Energy Kentucky requests first regulatory review of its natural gas distribution rates in nine years
Source: PR Newswire
CINCINNATI, Aug. 31, 2018 /PRNewswire/ -- Following significant investments to make Northern Kentucky's natural gas distribution system more reliable and resilient for customers, Duke Energy Kentucky today filed a request with its state regulator, the Kentucky Public Service Commission, to review the company's natural gas distribution rates.
As part of its request, Duke Energy Kentucky seeks approval to increase its current natural gas distribution rates by approximately $10.5 million. Today's filing represents Duke Energy Kentucky's first request to change its natural gas rates in nearly a decade. The company delivers natural gas to nearly 100,000 customers in seven counties in Northern Kentucky.
"We continue to make smart investments in data-driven projects designed to improve the reliability and resiliency of our energy delivery system," said Amy Spiller, president of Duke Energy Ohio/Kentucky. "These are strategic investments in our infrastructure and our region that are providing benefits to our customers today and will continue to do so for years to come."
Impact on customers' bills lessened due to tax act savings
Duke Energy Kentucky's application also outlines its plan to provide customers about $5.2 million in annual savings as a result of the federal Tax Cuts and Jobs Act of 2017.
As a result, residential customers who use an average of 53 Ccf of natural gas per month will see a $5.78 – or 10.2 percent – increase on their monthly natural gas bills, from $56.79 to $62.57. This proposed increase, which will vary depending on the amount of natural gas a customer uses, a customer's rate type and the prevailing cost of the natural gas commodity, would have been higher without the tax act savings.
"The tax act has provided a unique benefit to our customers by offsetting some of this proposed increase," said Spiller. "And this $5.2 million is in addition to the roughly $16.5 million in annual tax savings that we're already passing along to our electric customers in Kentucky."
Multimillion-dollar investments, not operational costs, main drivers for increase
Duke Energy Kentucky has invested $200 million in a variety of capital projects across Northern Kentucky since it last asked regulators to approve a gas distribution rate increase nine years ago. And, over that time, the company's costs to operate and maintain its system have remained nearly flat.
"I commend our gas operations employees for keeping a close eye on our operation and maintenance costs and achieving many efficiency and productivity advantages in their work," said Spiller. "Because of their intentional focus, we were able to continue delivering exceptional service without having to increase our rates for many years."
The company's recent multimillion-dollar capital investments have improved the reliability and resiliency of its natural gas distribution system across Northern Kentucky. Key investments include:
Company outlines proposed weather normalization adjustment
In today's filing, Duke Energy Kentucky also asked regulators to review and approve a weather normalization adjustment to be included on customers' bills during the winter heating season of November through April. In effect, this adjustment will soften the impact of abnormal weather on the delivery portion of customers' natural gas bills.
If the weather is colder than normal, customers will receive a credit that reduces the amount of the delivery charge. Conversely, if winter temperatures are warmer than normal, customers will see a charge on their bills. Over time, a customer's bill should total the same amount as it would without the application of the weather normalization adjustment.
The proposed adjustment will provide a more even method for customers to pay for – and for Duke Energy Kentucky to recover – the costs of delivering natural gas across Northern Kentucky. Similar adjustments are already in place for customers of other natural gas distribution utilities regulated by the Kentucky Public Service Commission.
Next steps
Duke Energy Kentucky anticipates that the Kentucky Public Service Commission will soon issue a procedural schedule for the company's rate review request. The process will include opportunities for customers and other stakeholders to learn more about the company's request and provide testimony to be included in the docket. Duke Energy Kentucky expects the rate review process to last until March or April 2019.
The company's application and supporting documentation, as well as any other entries related to the case, can be found under Case No. 2018-00261 on the Kentucky Public Service Commission's website. Additional information on Duke Energy Kentucky's application can be found at duke-energy.com/Gas-KY.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
513.287.4152 | @DE_LeeF
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
8/31/20188/30/2018 - Site readiness projects in Indiana gain valuable information and insight from consultant's recommendations
Site readiness projects in Indiana gain valuable information and insight from consultant's recommendations
Source: PR Newswire
PLAINFIELD, Ind., Aug. 30, 2018 /PRNewswire/ -- Economic development officials in five Indiana counties have been presented recommendations from nationally recognized site consultant Strategic Development Group (SDG) as part of Duke Energy's 2018 Site Readiness Program.
Banning Engineering of Plainfield has produced a desktop review, conceptual drawings and a marketing fact sheet for the sites.
The recommendations are designed to help each group maximize their economic development efforts. Along with the site consultant's recommendations, Duke Energy has awarded a $10,000 grant to each organization to help implement the recommendations.
The locations include:
The Site Readiness Program identifies, evaluates and improves sites in the company's service territory for potential industrial development.
"Duke Energy is excited to work with these economic development groups as they move forward to implement the consultant's recommendations," said Erin Schneider, director of economic development for Duke Energy Indiana. "We know from experience that our Site Readiness Program is a valuable tool to help these organizations attract jobs and capital investment."
"Strategic Development Group is pleased to work with Duke Energy Indiana on the 2018 Site Readiness Program," said Jeannette T. Goldsmith, vice president of SDG. "We look forward to expanding and enhancing this important program with our knowledge of important industry trends and site selection expertise."
The Franklin County site is participating in a first-time Site Readiness Light Program, which focuses on an engineering-based analysis, rather than a national site consultant evaluation, and provides recommendations for sites in the early stages of industrial development. That site may then qualify to participate in the full Site Readiness Program as early as next year.
After each site's state of readiness has advanced, Duke Energy's business development team will strategically market those sites nationwide to companies looking to expand or relocate their operations.
Ideal properties for Duke Energy's Site Readiness Program are typically 40 acres or larger, served by the utility, or a vacant industrial building of at least 20,000 square feet identified to support renewed industrial growth and sustainable development in a community.
Duke Energy Indiana's overall economic development program has been consistently named by Site Selection magazine as one of the nation's "Top 10 Utility Economic Development Programs." Since 2008, the company has participated in the creation of more than 26,000 jobs with a total capital investment of approximately $5.9 billion.
For more information about Duke Energy Indiana's economic development programs, visit locationindiana.com.
About Duke Energy
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/30/20188/27/2018 - Duke Energy releases updated environmental, social and governance reporting template for investors
Duke Energy releases updated environmental, social and governance reporting template for investors
Source: PR Newswire
CHARLOTTE, N.C., Aug. 27, 2018 /PRNewswire/ -- Duke Energy, a recognized leader in transparent environmental, social and governance (ESG) reporting, is participating in an innovative industrywide approach to better communicate progress on ESG and sustainability issues.
The current template, available here, includes updated data about Duke Energy and incorporates feedback from company investors.
As part of an ongoing initiative by the Edison Electric Institute (EEI) and its member companies, a reporting template was developed in 2017 to help provide investors with more uniformity and better consistency for ESG/sustainability metrics. Duke Energy helped pilot the initiative and was among the first companies to utilize the template for disclosure in December 2017.
"We're committed to transparency and engagement with investors, customers and other stakeholders," said Mike Callahan, Duke Energy's vice president of investor relations. "Our investors are increasingly focused on ESG and sustainability matters. We're providing them with the information needed to better incorporate ESG into their investing strategies."
Duke Energy is executing a strategy to deliver a cleaner, more sustainable energy future for customers. The company's ESG/sustainability efforts earned it a place on the Dow Jones Sustainability North American Index for the 12th consecutive year in 2017. Highlights of Duke Energy's efforts include:
Duke Energy's ESG/sustainability template with updated information is also available at duke-energy.com/investors. Duke Energy also publishes an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more. The 2017 report is available online at sustainabilityreport.duke-energy.com.
More information about the EEI initiative is provided here.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/27/2018Duke Energy Florida proposes more solar, grid improvements for 2019
Source: PR Newswire
ST. PETERSBURG, Fla., Aug. 24, 2018 /PRNewswire/ -- Duke Energy Florida (DEF) today announced plans to bring more solar power to its system, as well as improvements to the grid that will enhance reliability, security and resilience in 2019.
Today's filings with the Florida Public Service Commission demonstrate how the company is delivering on its promise to provide a smarter energy future.
The company is offering more value for customers through investments in its state-of-the-art Citrus Combined Cycle Natural Gas Plant and Hamilton Solar Power Plant, and grid improvements such as smart-thinking technology.
In addition to these smarter energy future investments, DEF also filed its annual fuel, capacity, energy conservation and environmental compliance clause rates for 2019.
Beginning January 2019, typical residential customers using 1,000 kWh will see an increase of 88 cents (less than 1 percent) in their monthly bill.
"Customers expect us to deliver electricity that is reliable, increasingly clean and more secure, while also providing more value and options every single day," said Catherine Stempien, Duke Energy Florida state president. "We're working to accomplish these critical goals by making investments to build a smarter energy future."
Building a Smarter Energy FutureSM
Duke Energy Florida broke ground on the Hamilton Solar Power Plant in Jasper, Fla., in early July. Once operational, the facility will be 74.9 megawatts (MWs) in size, which is enough to power more than 20,000 homes at peak production, and will begin serving customers in December 2018. The Hamilton Solar Facility is part of DEF's plan to add 700 MWs of cost-effective solar facilities in Florida.
The second unit at DEF's Citrus Combined Cycle Facility will also begin serving customers in December 2018. The first Citrus unit will begin serving customers in October 2018, making the combined cycle facility the most efficient power plant in DEF's fleet due to its use of clean-burning natural gas and highly efficient technology.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK). Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/24/2018Indiana utility regulators approve proposal from Duke Energy and consumer groups that will lower electric rates
Source: PR Newswire
PLAINFIELD, Ind., Aug. 23, 2018 /PRNewswire/ -- Indiana utility regulators approved an agreement between Duke Energy and consumer groups to lower customer electric rates using savings from the new federal tax law. The move will mean a 5.6 percent average rate reduction for Duke Energy Indiana customers by 2020, with most of the savings beginning in 2018.
Additional savings as a result of the federal tax act and the settlement will be reflected in future filings before state utility regulators. The amount of the tax savings will vary by customer class. Average residential customers using 1,000 kilowatt-hours a month will save $7.33 on their monthly electric bills by 2020.
Duke Energy, the Indiana Office of Utility Consumer Counselor, the Indiana Industrial Group and Nucor Steel submitted the agreement to the Indiana Utility Regulatory Commission in late June. The agreement outlined how to pass along to customers the benefits of the Tax Cuts and Jobs Act, which federal lawmakers passed in late 2017.
"This is an important agreement, and the commission's approval allows us to begin passing along savings to customers immediately and ensure they see the benefit of the new federal tax law," said Duke Energy Indiana President Melody Birmingham-Byrd. "It's a unique opportunity to lower electric rates and help offset other costs."
Duke Energy began reflecting the lower federal tax rate in customer bills earlier in 2018 as it filed new electric bill riders with the state utility regulatory commission. In addition to the tax reductions in bill riders, the settlement agreement reduces base rates in September 2018 to reflect the lower tax rate. The agreement also includes refunds of accumulated deferred taxes in 2018 and 2020.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/23/2018Duke Energy selects six companies to receive Power Partner award
Source: PR Newswire
CHARLOTTE, N.C., Aug. 20, 2018 /PRNewswire/ -- For the 25th consecutive year, Duke Energy has selected six outstanding organizations to receive the company's prestigious Power Partner award.
Duke Energy established the Power Partner award in 1992 to honor businesses and other organizations that achieve exemplary results in categories that include solutions innovation, community excellence, economic development, sustainability innovation and storm restoration. Each of the 2018 Power Partners will be recognized at individual award ceremonies later this year.
"The innovation and achievements of our large business customers seem to grow exponentially each year," said Chris Edge, vice president of large business customers at Duke Energy. "This year is no exception, as this distinguished group of award winners highlights incredible success stories that mutually benefit Duke Energy, our communities and the respective winning organizations."
The 2018 Power Partner award-winning organizations include:
Bausch + Lomb sought to protect their mission-critical operations from power outages. They decided to work with Duke Energy to provide on-site backup power solutions at the company's Greenville eye care solutions plant, Woodruff distribution center and the Tampa pharmaceutical eye care solutions plant. This ensures these important facilities have the highest level of reliability available.
Enbridge worked with Duke Energy to complete an innovative solution in a very short time frame which resolved operational concerns and resulted in savings of over $2 million. Both companies had aging transformers and Enbridge was able to transition from 34.5-kilovolt service to 69-kilovolt service. In addition, Enbridge repurposed a Duke Energy transformer destined for retirement. Also, Duke Energy could forego replacing a transformer and was also able to remove five miles of overhead power lines that were no longer needed. This project was completed in eight months, while similar projects typically require 18 months to two years to complete.
When Hurricane Irma struck Duke Energy's service territory in Florida, Duke Energy mobilized crews, not only from across its enterprise, but from many parts of the U.S., to begin restoration efforts. But the storm affected such a large footprint of Florida, the utility faced a seemingly insurmountable challenge: How to refuel arriving utility trucks? Publix was key in setting up a staged refueling station in a Publix parking lot near the interstate highway that enabled crews to refuel their vehicles as they made their way into the state. This staged refueling station allowed crews, upon arrival, to immediately begin restoration efforts with their vehicles fully fueled and ready to go.
Palmetto Health Tuomey has worked with Duke Energy for the past five years to develop and implement a student career forum designed to connect students with businesses in Sumter County, S.C. This program has introduced more than 1,000 middle- and high-school students to 45 area businesses, sharing with students the requirements and benefits of various careers. This program not only helps students understand what it takes to obtain employment in the local workforce, it also helps address employee recruitment challenges for businesses in Sumter County.
The Cincinnati/Northern Kentucky International Airport, also known as CVG, is the fastest-growing airport in North America. It is expanding passenger travel to a projected 9 million passengers by 2021 by attracting a diverse list of passenger carriers. In 2017, CVG helped recruit Amazon's largest air hub to the airport, which will make it the largest employer in Northern Kentucky. The unprecedented growth CVG is experiencing is worth celebrating as it continues to have a $4.4 billion annual impact on the local economy.
In 2016, the city of Asheville and Buncombe County worked with Duke Energy to convene the Energy Innovation Task Force aimed at achieving three goals: Avoid or delay the need for a new peaking power plant in western North Carolina; promote energy efficiency and demand-side management; and create programs through close community engagement. The Energy Innovation Task Force's Blue Horizon program, for example, is a coordinated effort to engage all customers (residential, commercial and industrial) in helping build a cleaner and smarter energy future for the region. Taking a leadership role, Asheville and Buncombe County also participate in Duke Energy's demand side management program and are working with Duke Energy on a utility-scale renewable energy project.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/20/20188/15/2018 - Duke Energy Foundation grants will help strengthen nonprofits, provide access to the arts in South Carolina
Duke Energy Foundation grants will help strengthen nonprofits, provide access to the arts in South Carolina
Source: PR Newswire
GREENVILLE, S.C., Aug. 15, 2018 /PRNewswire/ -- The Duke Energy Foundation recently awarded nearly $300,000 in grants to 11 South Carolina organizations that impact communities served by Duke Energy through nonprofit capacity-building efforts, expanding access to arts and culture, and other strategic community initiatives.
"Nonprofit organizations are often the first line of defense in communities across our state," said Kodwo Ghartey-Tagoe, South Carolina state president for Duke Energy. "These organizations must have well-trained professionals leading those efforts. That is why we support capacity-building initiatives that strengthen the nonprofit community and help nonprofits fulfill their missions."
At Francis Marion University in Florence, S.C., the Non-Profit Leadership Institute (NPLI) brings together nonprofit professionals from across the Pee Dee region to develop and enhance their skills over the course of several months. The Duke Energy Foundation is funding scholarships to attend NPLI and to create a workshop on grant writing.
"We're appreciative of Duke Energy's continued partnership with Francis Marion University and its support for our Non-Profit Leadership Institute," said Francis Marion University President Fred Carter. "The NPLI is one of our most successful regional outreach initiatives. Better educated nonprofit leaders make the Pee Dee a better place to live and work, and it wouldn't happen without the sponsorship of community partners such as Duke Energy."
Together SC supports and strengthens the state's nonprofit community. They are receiving funding that will allow 40 nonprofit leaders from across Duke Energy's service area to attend – many for the first time – the SC Nonprofit Summit, the only statewide gathering of more than 600 community-focused nonprofit leaders.
"When for-profit companies and nonprofits work together, our impact is amplified across the state," said Madeleine McGee, president of Together SC. "The significance of investing in the people who make good things happen isn't always appreciated. We wish more corporate funders followed Duke Energy's philosophy."
In addition to capacity-building grants, the Duke Energy Foundation also awarded funds to organizations that help enhance community vitality through programs and inititatives that impact communities in a number of ways, including through arts education, youth leadership programs and emergency response training.
Those grants were awarded to the following organizations:
The Foundation annually funds more than $33 million to communities throughout Duke Energy's seven-state service area. In 2017, the company donated more than $2 million to nonprofit organizations in South Carolina.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $33 million annually in charitable gifts.
The Foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The Foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
The Duke Energy Foundation is part of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/15/2018Duke Energy boosts economic development and job growth with $275,000 in urban redevelopment grants in Ohio and Kentucky
Source: PR Newswire
CINCINNATI, Aug. 14, 2018 /PRNewswire/ -- Communities and residents across southwest Ohio and Northern Kentucky continue to benefit from Duke Energy's Urban Revitalization program, which announced its 2018 grant recipients today. Since its launch in 2011, the Urban Revitalization program has issued $2.2 million in grants to 65 projects – including $275,000 to nine projects in 2018.
Video: Urban Revitalization program spurs positive change in Ohio and Kentucky
"We continue to back the Urban Revitalization program because, year after year, the catalyst grants have proven to spur additional redevelopment in urban cores across Greater Cincinnati," said Amy Spiller, president of Duke Energy Ohio and Kentucky. "This redevelopment, in turn, improves the lives of our customers and vitality of our communities by creating jobs and new opportunities for residents throughout our region."
Urban Revitalization program traces roots to Great Recession
In 2010, with the struggling economy, Duke Energy recognized that this was an opportune time to increase its investment in Greater Cincinnati's urban centers and help deter the decline of inner-core cities and neighborhoods.
"Our thinking was that a strong community starts with the urban core," said Spiller. "Without a strong core, your community is weak. And that was the premise around our decision to create the Urban Revitalization program – that everyone in the community can make a difference; that a small investment can serve as a catalyst, to help do a lot for our urban cores. Because building strong communities starts with core economic development investments and jobs for the community."
Related: Lumber mill reimagined as artist studios in Kentucky
Projects must have the community's support from elected officials, be included in the community strategic plans and display collaboration among economic or urban development organizations.
The Duke Energy Foundation accepted 2018 Urban Revitalization grant applications in April and May. After the grant application window closed, an advisory team composed of community leaders from both Ohio and Kentucky – all of whom have vested interests in urban redevelopment – perused each application and recommended projects to receive Urban Revitalization grants in 2018.
When reviewing grant applications, the advisory team ranked projects based on their potential to impact blight, job creation, building vacancies, workforce retraining opportunities, business retention or expansion, or other elements of revitalization.
Here are summaries of the projects that were awarded grants today.
Ohio
KENTUCKY
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $33 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
513.287.2432 | @DE_SallyT
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
8/14/20188/7/2018 - Electrification project by Duke Energy and Golden State Foods to save fuel and lower emissions
Electrification project by Duke Energy and Golden State Foods to save fuel and lower emissions
Source: PR Newswire
GARNER, N.C., Aug. 7, 2018 /PRNewswire/ -- A total of 32 electric power outlets will help trucks at the Golden State Foods (GSF) distribution center cut costs and lower air emissions as part of a Duke Energy electrification project.
As one of the largest diversified suppliers to the foodservice and retail industries, GSF will allow cargo trucks to stop idling their engines to keep food cold, and instead plug into power outlets at the facility. The $300,000 project will help lower exhaust emissions, and is cheaper than the practice of running trucks on diesel fuel. SafeConnect® Systems installed the power outlets.
"Duke Energy is a strong believer in the benefits of electrification for our industrial customers," said Clark Gillespy, senior vice president, Economic Development at Duke Energy. "At Golden State Foods, truck idling will be lessened – saving money, lowering noise levels and reducing air emissions."
According to the U.S. Environmental Protection Agency (EPA), long-duration truck idling results in more than 1 billion gallons of wasted fuel and 11 million tons of carbon dioxide emissions each year. On average, an hour of idling uses a gallon of fuel.
"Incorporating renewable energy at all GSF facilities and fleets is a priority, and part of our fundamental values and GSF's 2020 sustainability goals," said Gregg Tartlon, general manager, GSF Garner. "These new electric power outlets are estimated to save Garner nearly $110,000 a year, resulting in 80,000 gallons of fuel saved for our 65 trucks. There are 15 GSF and Quality Custom Distribution (a GSF-owned company) centers currently leveraging this type of technology."
This is Duke Energy's third project in North Carolina using electricity to power trucks instead of idling engines. The company has funded other projects at MDI Distributors in Catawba County and at Big Boy's Truck Stop in the Johnston County town of Kenly.
"Because of Golden State Foods' pursuit of new solutions to realize internal carbon emission reduction goals, lower overall energy costs and keep drivers safe, we've had the privilege of installing our innovative electric standby connection system at more than 10 of their distribution facilities over the last three years," said Bob Provencher, Director of Technology and Sales, SafeConnect.
Duke Energy funding for the project is available by a 2015 settlement with the U.S. Environmental Protection Agency and environmental groups.
NOTE TO EDITORS: A "plug-in" event at the GSF Garner distribution center will occur Wednesday, Aug. 8 at 10 a.m. Experts from all companies will be available for interviews. To attend, please contact Ashley Blua; ablua@goldenstatefoods.com; 818.326.5369.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Golden State Foods
Golden State Foods is one of the largest diversified suppliers to the quick service restaurant (QSR) and retail industries. Established in 1947, the company is values-based with proven performance in superior quality, innovation and customer service throughout the QSR industry. With 7,000 employees worldwide, GSF services more than 125,000 stores on five continents from its 50 facilities. Its core businesses include processing of liquid products, protein, produce, dairy and full-line logistics services to the foodservice and retail industries. The company also runs the GSF Foundation, a national nonprofit organization to help children and families in need. For more information, please visit goldenstatefoods.com.
About SafeConnect Systems
SafeConnect Systems is the developer and manufacturer of an innovative, control-circuit enhanced electric standby connection system for hybrid (diesel-electric) Transport Refrigeration Units (e-TRUs). The company's six-pin control circuit system, safeguards people and equipment from the dangers of high-voltage electricity commonly associated with human error and traditional connection systems. SafeConnect has earned EPA's coveted SmartWay® Verified Technology status, to make it a quickly emerging new standard for electric standby connection systems. For more information visit safeconnectsystems.com or call 844 R U SAFE 2 (844.787.2332).
Media Contacts:
Duke Energy: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com
Twitter: @DE_RandyW
Golden State Foods: Ashley Blua
Office: 949.247.8000
Cell: 818.326.5369
Email: ABlua@goldenstatefoods.com
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SOURCE Duke Energy
Article Date
8/7/2018Duke Energy and EY announce strategic tax relationship
Source: PR Newswire
CHARLOTTE, N.C., Aug. 6, 2018 /PRNewswire/ -- Duke Energy today announced a groundbreaking agreement with Ernst & Young LLP (EY) that will provide the company with leading edge managed tax services, while creating growth and advancement opportunities for members of Duke Energy's tax department.
Under the agreement – the first of its kind for a public utility – Duke Energy will have access to a firm that has demonstrated scale across multiple clients and the ability to help Duke Energy drive process improvements at a much faster pace, which benefits both the company and customers.
Additionally, 46 members of Duke Energy's tax team will be extended job offers to join EY's world-class tax practice, enabling them to further advance their careers at an organization with more comprehensive, specialized tax capabilities. It also helps enable Duke Energy to more effectively navigate changes in the highly-dynamic tax and regulatory environment.
"We are excited to collaborate with EY, offering meaningful development and career growth tracks for employees and gaining efficiencies that will lead to savings for our customers," said Stephen De May, Duke Energy's senior vice president of tax and treasurer. "Our industry, like many others, is rapidly transforming. With this transition, we will have access to advanced digital capabilities and long-standing tax experience to improve planning and risk identification in today's evolving business landscape."
"This agreement with Duke Energy is a prime example of how forward-thinking companies are innovating to reimagine their tax function in the face of technological disruption and a constantly changing legislative and regulatory environment," said Mark Weinberger, EY Global Chairman and CEO. "We look forward to welcoming Duke Energy's tax professionals to the EY team as we utilize our pioneering tax platform to help identify new strategic opportunities and manage risks."
Aug. 31, 2018 is the target effective date for Duke Energy employees to transition to EY.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About EY
EY is a global leader in assurance, tax, transaction and advisory services. The insights and quality services we deliver help build trust and confidence in the capital markets and in economies the world over. We develop outstanding leaders who team to deliver on our promises to all of our stakeholders. In so doing, we play a critical role in building a better working world for our people, for our clients and for our communities.
EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. For more information about our organization, please visit ey.com.
Duke Energy Media contact: Catherine Butler
24-Hour: 800.559.3853
EY Media Contact: Jeanine Morgan
914.686.5599
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SOURCE Duke Energy
Article Date
8/6/2018Duke Energy reports second-quarter 2018 financial results
Source: PR Newswire
CHARLOTTE, N.C., Aug. 2, 2018 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its second-quarter 2018 financial results in a news release available on the company's website at the following link: www.duke-energy.com/our-company/investors/financial-news.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer, will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (www.duke-energy.com/our-company/investors/financial-news) of Duke Energy's website or by dialing 888-778-8913 in the U.S. or 719-325-4773 outside the U.S. The confirmation code is 5013212. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 12, 2018, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S. and using the code 5013212. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
8/2/2018Duke Energy Progress proposes decrease to charges for programs saving energy and money for South Carolina customers
Source: PR Newswire
GREENVILLE, S.C., Aug. 1, 2018 /PRNewswire/ -- As the new year begins, customers of Duke Energy Progress in South Carolina will see savings in their monthly energy bills related to the costs of programs that help them save energy and money.
Duke Energy Progress is committed to helping customers reduce energy consumption and resulting costs through energy-efficiency programs and assistance for low-income customers. As of year-end 2017, South Carolina customers' energy consumption had been reduced by about 2.9 billion kilowatt hours (kWh) as a result of participation in the company's programs. That's enough energy to power more than 240,000 average homes for a year.
Duke Energy Progress today made its annual filing with the Public Service Commission of South Carolina (PSCSC) to recover the costs of implementing these programs.
The total monthly impact of the proposed rate change for a residential customer using 1,000 kWh per month is a decrease of $2.32. For non-residential customers, the impact will vary based on the opt-out elections made by the customer.
These rates have decreased primarily due to collection of previously under-recovered costs that were included in prior year rates.
The charge covers the cost of implementing energy efficiency programs and providing incentives to help customers take control of their energy usage and save money. The charge is reviewed annually by the PSCSC.
Duke Energy Progress serves about 168,000 customers in the northeastern part of South Carolina, including Darlington, Florence and Sumter counties.
Duke Energy Progress
Duke Energy Progress owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,800 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Progress is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/1/2018Duke Energy Florida announces new solar power plant in Columbia County
Source: PR Newswire
ST. PETERSBURG, Fla., July 31, 2018 /PRNewswire/ -- Duke Energy Florida today announced the location of its newest universal solar power plant, which will provide cleaner, smarter energy solutions to benefit its Florida customers.
The Columbia Solar Power Plant will be built on 580 acres in Fort White (Columbia County) Fla., off of Fry Road.
The 74.9-megawatt (MW) plant will consist of approximately 245,000 solar panels on the site, which will produce enough carbon-free energy to power over 20,000 average homes at peak production.
The company expects to break ground on the Columbia solar plant next year, with full operation in March 2020. The solar power plant will be owned, operated and maintained by Duke Energy Florida and developed by Core Solar, which has constructed other solar projects in Florida.
Separately, construction is underway at Duke Energy's previously announced Hamilton Solar Power Plant, which is also 74.9 MW in size, consisting of approximately 300,000 solar panels on 565 acres.
"Together, the Hamilton and Columbia solar power plants are expected to eliminate approximately 645 million pounds of carbon dioxide emissions in Florida each year upon commercial operation. That's the equivalent of taking 63,000 passenger cars off the road," said Catherine Stempien, Duke Energy Florida president. "These projects represent our commitment to more fuel diversity in the state and to rapidly expand renewable generation for our Florida customers' benefit."
Hamilton and Columbia are the first projects the company has announced as part of Duke Energy Florida's commitment to construct or acquire 700 MW of solar generation between now and 2022.
"We applaud Duke Energy Florida for proactively working with stakeholders to embrace smart, 21st-century technologies that are good for consumers and the environment," said Dr. Stephen A. Smith, executive director of the Southern Alliance for Clean Energy. "Pursuit of large-scale solar, electric vehicles and battery storage are positive steps for our energy grid and the Sunshine State. We welcome Duke Energy's willingness to work with stakeholders on data collection and any rate design changes impacting customer-owned demand side solar."
Over the next decade, the company will also make strategic, targeted investments in additional solar power plants, battery storage technology, transportation electrification and a modernized power grid to help meet our customers' needs for diverse, reliable energy solutions.
Hamilton Solar Power Plant Construction Begins
Duke Energy Florida broke ground on the Hamilton Solar Power Plant in Jasper, Fla., in early July.
It is located along Southwest 69th Drive and Southwest 40th Avenue in Jasper, Fla. Once operational, the facility will be 74.9 megawatts in size, which is enough to power more than 20,000 homes at peak production. All of the electricity created from the project will be fed onto Duke Energy Florida's electric grid for the benefit of all of its 1.8 million customers. The project is expected to be finished later this year and was originally developed by Tradewind Energy Inc.
Large-scale solar sites efficiently deploy solar technology for the benefit of all customers. It offers a way for customers to enjoy the benefits of solar energy and provides Duke Energy with a clean, diverse fuel source.
Renewables Service Center
In addition to building universal solar in the Sunshine State, Duke Energy Florida is helping more than 350 residential and business customers per month interconnect their own private solar on their property.
The company established a renewables service center to make it easier for customers to interconnect. In the past five years, the number of customers who have interconnected their private solar increased by 670 percent.
Florida Public Service Commission Filing
Duke Energy Florida filed a request today with the Florida Public Service Commission to recover the actual investment costs associated with the Hamilton and Columbia solar power plants.
The impact to residential customers' rates is expected to be less than half a percent for each project. Commercial and industrial customers would see a similar change.
For the Hamilton Solar Power Plant, the forecasted base rate increase would begin in the January 2019 billing period.
For the Columbia Solar Power Plant, the forecasted base rate increase would begin in the April 2020 billing period.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK). Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list. More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/31/20187/27/2018 - Duke Energy Carolinas proposes annual update to fuel charges for South Carolina customers
Duke Energy Carolinas proposes annual update to fuel charges for South Carolina customers
Source: PR Newswire
GREENVILLE, S.C., July 27, 2018 /PRNewswire/ -- Duke Energy Carolinas today made its annual filing with the Public Service Commission of South Carolina (PSCSC) for the costs associated with the purchase of fuel to generate electricity at its power plants.
The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.
If approved, the total monthly impact for a typical residential customer in South Carolina using 1,000 kilowatt-hours (kWh) per month would be an increase of $4.75. Commercial customers would see an average increase in the fuel charge of about 6.1 percent, and industrial customers would receive an average increase of about 8.0 percent.
Natural gas prices rose this winter due to heavy demand for residential, commercial, and industrial usage to meet customer energy needs during prolonged freezing conditions. These increased prices, coupled with high demand, contributed to an under collection for the cost of fuel over the past year. The elevated demand for power resulted in the highest energy usage week on record in the Carolinas.
The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection. If approved by the PSCSC, the new fuel rates would go into effect Oct. 1.
Duke Energy Carolinas serves customers primarily in the Upstate of South Carolina.
Helping customers save
Duke Energy Carolinas works to actively manage its fuel contracts to keep fuel costs as low as possible. Savings achieved from the joint dispatch of Duke Energy's generation fleet in the Carolinas also help to minimize the company's fuel costs.
Duke Energy Carolinas is also committed to helping customers take control of their energy use and manage their bills. The company offers energy-saving tips and innovative efficiency programs for every budget to help customers realize additional savings. For example, the Home Energy House Call is a free in-home energy assessment, valued at $180, designed to give Duke Energy customers more information about how they use energy in their home and strategies to save money on their monthly bill.
To learn more about these programs, visit duke-energy.com/savings.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Carolinas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-carolinas-proposes-annual-update-to-fuel-charges-for-south-carolina-customers-300687977.html
SOURCE Duke Energy
Article Date
7/27/2018Demand strong for Duke Energy's North Carolina solar rebates
Source: PR Newswire
CHARLOTTE, N.C., July 27, 2018 /PRNewswire/ -- Duke Energy's North Carolina solar rebate program has attracted significant interest from customers, with more than 1,500 applying for the incentive to install private solar systems in the first few weeks of the program's launch.
"Customers are overwhelmingly embracing our rebate program and are supporting Duke Energy's efforts to promote renewable energy in North Carolina," said David Fountain, Duke Energy's North Carolina president. "Under the Competitive Energy Solutions for North Carolina legislation, Duke Energy will bring a steady influx of new solar capacity to the state over the next five years."
The rebate offering, which opened July 9 to all Duke Energy customers in the state, is part of a five-year, $62 million program designed to support customers who want to install solar systems at their homes or businesses.
As a result of the popularity of the program, there is a waiting list for the residential and nonresidential categories for 2018 capacity. Due to the first-come, first-served application rule of the program, the company is seeking permission from the N.C. Utilities Commission (NCUC) to allow residential and nonresidential customers who installed systems between Jan. 1, 2018, and July 26, 2018, another opportunity to apply for the rebate program in 2019. There is still capacity left for nonprofit customers this year.
About 16 megawatts of new solar capacity has been accepted for rebates – totaling about $9 million. Overall, up to 20 MW of new capacity is expected to be added each year during the five-year program. At the start of 2018, Duke Energy had about 5,000 customers with private solar in North Carolina, with a total capacity of about 50 MW.
Information for the rebate program can be found at: duke-energy.com/home/products/renewable-energy/nc-solar-rebates.
Solar rebate program
Under the program, residential customers are eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW is eligible for a $4,800 rebate. Installed systems 10 kW or greater are eligible for a maximum rebate of $6,000.
Nonresidential customers are eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) are eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less.
The rebates are divided into maximum annual allotments of 20 MW and are on a first-come, first-served basis – depending on when the customer application is submitted.
Other solar programs underway
Duke Energy's various solar programs are an outgrowth of 2017's Competitive Energy Solutions for North Carolina legislation.
Also underway: Duke Energy is currently soliciting bids for projects totaling 680 MW of utility-scale new renewable energy capacity. Proposals must be for a single facility between 1 and 80 MW and capable of being placed in service prior to Jan. 1, 2021.
An independent administrator will manage the bidding process and help select the most cost-effective bids.
Duke Energy has more than 2,500 MW of solar capacity connected to its grid, which includes those owned by Duke Energy and those owned and operated by other companies. At peak output, that could power 500,000 homes. North Carolina is No. 2 in the nation for overall solar power capacity.
Bids for new projects are due Sept. 11. Details on the RFP can be found on the independent administrator's website at https://decprerfp2018.accionpower.com/.
Duke Energy is one of the nation's leading renewable energy companies. The company operates more than 20 wind facilities and 60 solar facilities in about 20 states around the nation.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
7/27/2018Duke Energy Florida to transfer customers to Peace River Electric Cooperative as both companies prepare to enter a new territorial agreement
Source: PR Newswire
ST. PETERSBURG, Fla., July 25, 2018 /PRNewswire/ -- Duke Energy Florida announced today it will file a request with the Florida Public Service Commission to transfer approximately 3,000 customers in Hardee County and a small area of Polk County (north of Bowling Green) to Peace River Electric Cooperative (PRECO).
The company's current territorial agreement with PRECO will expire in December 2019; however, before the current agreement expires, Duke Energy and PRECO will enter into a new territorial agreement to revise the service area boundaries between the two utilities and allow each company to continue to provide safe and reliable electricity.
Customers affected by the transfer will be notified by mail.
Territorial agreements allow for the efficient delivery of electrical service and establish and define geographical areas where a utility is the exclusive provider of electric service. These agreements also avoid the duplication of electrical distribution lines, services and facilities of utilities in the same communities.
PRECO will serve the transferred residential and business customers through the electric distribution system, and Duke Energy Florida will continue to retain and expand transmission-level services within Hardee County.
"With new growth and development over the years, utility company service areas may overlap, which results in duplicate facilities such as power poles and lines in the same areas," said Catherine Stempien, Duke Energy Florida state president. "Although we regret not having the opportunity to continue to serve these customers, we're confident PRECO will do an excellent job meeting their energy needs, and both companies will work together to ensure a smooth transition."
The proposed agreement requires Florida Public Service Commission (FPSC) approval and will be filed on Aug. 31, 2018. The approval process could take up to six months. Once approved, it may take up to three years to complete the transition. Customers will have an opportunity to provide comments to the FPSC during its review process.
"PRECO has a long-standing commitment to the local community," said Randy Shaw, general manager and CEO of PRECO. "This territorial agreement provides the framework for both companies to gain operational efficiencies and ensure customers continue to receive the safe, reliable electric service they expect and deserve."
Customers' Rates
PRECO will request approval from the FPSC to allow customers to either keep their current rate or move to PRECO's rates for the first few years after their service has been transferred.
On average, customers' bills will remain about the same. As of July 2018, the total monthly bill for a typical residential customer using 1,000 kilowatt-hours (kWh) per month is $124.16 for Duke Energy and $128.78 for PRECO.
PRECO Open House
All customers affected by the transfer are invited to an open house event on Tuesday, Aug. 14, from 3-7 p.m. at PRECO's headquarters located at 210 Metheny Road, Wauchula, FL 33873. Customers can ask questions of both utilities and meet members of the PRECO team.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Peace River Electric Cooperative
Peace River Electric Cooperative (PRECO), a Touchstone Energy® distribution electric cooperative headquartered in Wauchula, Fla., provides electric service and energy solutions to more than 40,000 member/consumers in 10 central Florida counties: Brevard, DeSoto, Hardee, Highlands, Hillsborough, Indian River, Manatee, Osceola, Polk and Sarasota. Through almost 4,000 miles of power lines, the electric cooperative has been in business since 1940 as a member-owned, not-for-profit organization.
Contact: Valerie Patterson
24-Hour: 800.559.3853
valerie.patterson@duke-energy.com
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SOURCE Duke Energy
Article Date
7/25/20187/23/2018 - Duke Energy Progress program will provide new choice for solar energy for South Carolina customers
Duke Energy Progress program will provide new choice for solar energy for South Carolina customers
Source: PR Newswire
GREENVILLE, S.C., July 23, 2018 /PRNewswire/ -- Duke Energy Progress is launching an affordable option for customers that will enable them to share in the economic benefits from the output of a single solar facility – providing customers another choice that will continue to grow renewable energy in South Carolina.
The Shared Solar Program is available to all qualified Duke Energy Progress residential and nonresidential customers including those who hold tax-exempt status, those who live in multifamily housing or rent homes, and those who may not otherwise have access to solar energy.
Customers who subscribe to solar energy through the Shared Solar Program will receive a monthly bill credit for the value of the energy produced by their subscription.
"This is a great program for any customers who don't own their residence or are unable to put a solar facility on their property," said Kodwo Ghartey-Tagoe, state president for Duke Energy in South Carolina. "We estimate that residential customers will earn back their initial payment in credits from the solar array in three years. Customers are not only saving on their electric bill, they are directly supporting a renewable energy future in South Carolina for generations to come."
The program will be powered by the Whitney M. Slater Shared Solar Facility developed by Pine Gate Renewables and located in Dillon County near Lake View, S.C.
Duke Energy Progress serves electric customers in the northeastern part of the state, including Florence, Darlington and Sumter counties.
How does shared solar work?
Participants in the program will pay a monthly subscription fee of $6.25 a kilowatt in addition to initial fees to join the program. These program costs are in addition to the customer's regular energy bill.
The monthly fee funds the customer's share of supporting the operation of a solar facility located in the Pee Dee region. By subscribing to the Shared Solar Program, the customer will receive a monthly credit from Duke Energy Progress equal to the amount of solar energy the customer's share produced.
Participating in this program will not impact customer usage or the way they pay their bill.
For qualified low-income customers, Duke Energy Progress will waive the application cost and initial fees, a $120 value. Customers should contact their local community action agency for assistance determining eligibility.
Space is limited and program reservations will be provided on a first-come, first-served basis. To participate in the program, customers must have an active Duke Energy Progress account. Visit www.duke-energy.com/SCSharedSolar or contact us at 866.233.2290 for more information.
Growing solar in South Carolina
The Shared Solar Program is a result of the historic collaborative effort in South Carolina to grow solar jobs and give customers choices as to how they live their energy future.
As a result of Act 236 – landmark legislation passed by South Carolina's General Assembly in 2014 – Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. More than 5,000 of the company's South Carolina customers have installed solar panels on their homes and businesses, and in 2017, South Carolina jumped to No. 8 in the country for the amount of solar installed during the year.
Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.
Duke Energy Progress
Duke Energy Progress owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,800 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Progress is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-progress-program-will-provide-new-choice-for-solar-energy-for-south-carolina-customers-300684797.html
SOURCE Duke Energy
Article Date
7/23/2018Piedmont Natural Gas to build new liquefied natural gas facility in North Carolina
Source: PR Newswire
-- Facility will help Piedmont continue reliable service to customers on the coldest days of the year
-- Robeson County estimated to receive $800,000 to $1 million in annual tax revenue
CHARLOTTE, N.C., July 13, 2018 /PRNewswire/ -- Piedmont Natural Gas today announced plans to build and operate a liquefied natural gas (LNG) facility in Robeson County, N.C. The facility will help Piedmont Natural Gas continue providing customers with a reliable supply of natural gas during peak usage days, when extremely low temperatures create a higher-than-normal demand for natural gas.
"We continually make investments in our natural gas infrastructure as part of our commitment to providing safe, reliable and affordable natural gas for our customers," said Frank Yoho, president of natural gas operations. "This facility is the most cost-effective solution to meet peak-day demand."
Economic Benefits
The project will deliver immediate and significant economic benefits to local communities and help drive economic growth. The project is expected to create up to 400 local jobs during its two years of construction and create 10 to 12 permanent jobs to manage operations. The project will provide approximately $800,000 to $1 million annually in tax revenue to Robeson County, benefiting local services such as health care, schools and emergency response.
"This project marks an important economic development opportunity for our county, and we're looking forward to working with Piedmont Natural Gas in an open, transparent manner throughout this process," said Robeson County Manager Ricky Harris.
Project Details
The 1 billion-cubic-foot (Bcf) storage facility will cover approximately 50 acres of a 685-acre piece of Piedmont-owned property. Construction is expected to begin in the summer of 2019 with an estimated completion date in the summer of 2021.
The project, estimated to cost approximately $250 million, will be the fourth LNG facility Piedmont owns and operates. The other facilities are located in Nashville, Tenn., Bentonville, N.C., and Huntersville, N.C.
"Piedmont has safely operated LNG facilities for more than 40 years," Yoho continued. "As always, our commitment to safety will be unwavering throughout the facility's construction process and its operation."
Visit piedmontng.com/robesonLNG for more information about this project and updates as they become available.
Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Loree Elswick
Office: 704.731.4236 I 24-hour: 877.348.3612
loree.elswick@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
7/13/2018Duke Energy Carolinas customers lead South Carolina in private solar adoption
Source: PR Newswire
- Company pays customers for value of solar energy they produce
- Collaboration key to creating sound policy for renewable energy growth
GREENVILLE, S.C., July 12, 2018 /PRNewswire/ -- Duke Energy Carolinas has achieved a major milestone in its support of solar energy as more than 5,000 of the company's South Carolina customers have installed solar panels on their homes and businesses, reaching a legislative goal for customer-owned solar capacity.
Customers can still install solar – and sell the electricity they produce to Duke Energy at the same price the utility pays for electricity generated by large solar power plants – even though the company has reached the capacity limit.
The net metering incentive enabled Duke Energy Carolinas – the utility that primarily serves the Upstate of South Carolina – to achieve its goal of 40 megawatts of private "rooftop" solar well in advance of the 2020 target. Duke Energy Progress – the utility serving the northeastern part of the state including Florence and Sumter – is well on its way to meeting its goal of 13 megawatts of private solar, as well.
These goals and the incentives that helped achieve them were a result of landmark legislation passed by South Carolina's General Assembly in 2014, commonly known as Act 236.
Solar policy that works
As a result of Act 236, Duke Energy and its customers have helped make South Carolina one of the country's greatest success stories for renewable energy. In 2017, South Carolina jumped to No. 8 in the country for the amount of solar installed during the year.
Act 236 provided a framework for customers to install solar on their homes and businesses through strategic programs like the net metering incentive and rebate offerings. The net metering incentive was a component of a larger 2014 settlement agreement with the solar industry, environmental groups and South Carolina's utilities, and was intended to spur the residential solar market at a time when solar costs were higher. In addition to the net metering incentive, the company has provided more than $50 million in rebates as an extra incentive for customers who wanted to go solar across its South Carolina footprint.
The significant response from Duke Energy Carolinas customers has led to the utility meeting its application capacity goal for the net metering incentive as established by Act 236. Beginning Aug. 1, 2018, Duke Energy Carolinas customers in South Carolina who want to install solar on their home or business will continue to have the option to do so. Duke Energy Carolinas will purchase all the energy their system produces similar to how the utility purchases renewable energy from large scale solar facilities. Those interested in participating in customer-owned generation can utilize Duke Energy Carolinas' Purchase Power Tariff. Customers wishing to learn more about this offering should visit https://www.duke-energy.com/business/products/renewables/generate-your-own/sell-all-purchased-power.
Duke Energy Progress is not expected to reach the capacity limit until 2020 or later. Customers there will still be able to sign up for the current form of net metering, and all current net metering customers are grandfathered into their current billing system through the end of 2025.
Collaboration is key
Andrew Streit, founder and former president of the South Carolina Solar Business Alliance, has been actively involved in the solar marketplace in South Carolina for many years, and was involved in the discussions that brought about Act 236.
"Duke Energy's active participation in Act 236 was instrumental in moving solar forward in South Carolina," said Streit, who is director of business development for solar installer Power Factor. "It was a collaborative effort and the conversations were sometimes tense as the different sides wrestled complex issues, but they came together to build a solid program for the entire state."
"It is this compromise approach with many stakeholders at the table that is critical to getting the next phase of solar right in South Carolina."
That collaboration does continue, as the Office of Regulatory Staff has already brought stakeholders to the table again and discussion has started to address some of the issues that were raised during the last session of the General Assembly.
The goal has always been to propose a collaborative, sustainable solution to guide future legislation.
"What we've proposed all along is a reasonable path forward to continue to grow solar energy in South Carolina," said Kodwo Ghartey-Tagoe, state president for Duke Energy in South Carolina. "We are hopeful this current effort will lead to consensus, common-sense legislation that is fair and balances the interests of all who call South Carolina home – solar providers, energy companies, and customers who use solar energy and those who do not."
Local success, local jobs
Bruce Wood was in the solar installation and service business in South Carolina long before it looked like it would be the successful industry it has become.
"There weren't many of us homegrown solar companies here in the early days of the solar industry," said Wood, owner of Sunstore Solar in Greer, S.C. "I like to think operations like mine really helped build the interest and confidence for homeowners and small businesses in how they could participate in renewables."
That was before Act 236.
"We've really been able to grow the business the past few years, once legislation really opened up the marketplace," Wood said. "But I know that some parts of that policy that got us here – like net metering – were incentives that were never intended to be permanent. If we get everyone back to the table we can work out a sustainable plan that will be good for customers, installers and the energy companies for years to come."
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-carolinas-customers-lead-south-carolina-in-private-solar-adoption-300680223.html
SOURCE Duke Energy
Article Date
7/12/2018Duke Energy provides major boost to solar in North Carolina as new programs roll out
Source: PR Newswire
CHARLOTTE, N.C., July 10, 2018 /PRNewswire/ -- Two major Duke Energy solar energy programs are rolling out this month in North Carolina, making solar more abundant and affordable for customers.
"Duke Energy's solar rebates and the competitive bidding program have been highly anticipated and will drive further solar-related investment, job creation and economic development for North Carolina," said David Fountain, Duke Energy's North Carolina president. "They reflect many of the positive aspects of the Competitive Energy Solutions for North Carolina legislation and will provide financial benefits to residential and commercial customers."
The two programs hit milestones this week:
"North Carolina has been able to achieve leadership in the use of solar energy, second only to California, spurred by a variety of programs that have helped to reduce the cost of installing solar systems," said Peter M. Schwarz, professor of economics and associate at the Energy Production and Infrastructure Center (EPIC), UNC Charlotte. "The new programs that Duke Energy is now introducing will continue to spur the growth of solar energy, contributing to economic development while helping to protect the environment."
Solar Rebates Program
Under the rebate program, residential customers will be eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW would be eligible for a $4,800 rebate. Installed systems 10 kW or greater would be eligible for a maximum rebate of $6,000.
Nonresidential customers would be eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) would be eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less. Installed systems 100 kW or greater would be eligible for a maximum rebate of $50,000 for nonresidential customers, or $75,000 for nonprofit customers.
Customers will also have a solar leasing option. Instead of owning the system, customers can lease solar panels from another company. Much like leasing a car, a third-party leasing agency owns the system while the customer has a contract to use the output of the solar panels.
The rebates are divided into maximum annual allotments of 20 MW and are on a first-come, first-served basis – depending on when the customer application is submitted. More program details can be found at duke-energy.com/NCSolarRebates.
The program is similar to a successful one in South Carolina that passed the $50 million mark in customer rebates earlier this year. The program was also part of a collaborative piece of energy legislation – Act 236 – signed into law in 2014.
Competitive Bidding Program
Under North Carolina's competitive bidding provision, Duke Energy will solicit bids for projects totaling 680 MW of new renewable energy capacity. The bids can come from any company, including Duke Energy, and can be in the form of a power purchase agreement (PPA), utility self-developed facilities or asset acquisitions. Proposals must be for a single facility between 1 and 80 MW and capable of being placed in service prior to Jan. 1, 2021.
An independent administrator will manage the bidding process and help select the most cost-effective bids.
"The competitive bidding process will lead to better prices for solar energy for our customers," added Fountain. "It will also improve geographic distribution of projects around the Carolinas which promotes reliability."
Duke Energy already has more than 2,500 MW of solar capacity connected to its grid, which includes those owned by Duke Energy and those owned and operated by other companies. Overall, North Carolina is the No. 2 state in the nation for solar power capacity.
Bids for new projects are due Sept. 11. Details on the RFP can be found on the independent administrator's website at https://decprerfp2018.accionpower.com/.
Duke Energy is one of the nation's leading renewable energy companies. The company operates more than 20 wind facilities and 60 solar facilities in about 20 states around the nation.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
7/10/20187/9/2018 - Duke Energy Renewables completes acquisition of Shoreham Solar Commons project from Invenergy
Duke Energy Renewables completes acquisition of Shoreham Solar Commons project from Invenergy
Source: PR Newswire
- 24.9-megawatt site in New York is on line, providing clean energy to Long Island
- Facility is one of largest solar projects in the state
CHARLOTTE, N.C., July 9, 2018 /PRNewswire/ -- Duke Energy Renewables today announced it has completed the acquisition of the 24.9-megawatt Shoreham Solar Commons project on Long Island from Invenergy.
Shoreham Solar Commons is located in Brookhaven, New York, about 60 miles east of Manhattan, on the site of the former Tallgrass Golf Course.
It was placed into service July 1, and the Long Island Power Authority (LIPA) is purchasing the power under a 20-year agreement.
"As we continue to provide affordable, renewable energy to customers across the United States, we are especially pleased our first renewables project in New York helps meet the sustainability goals and energy needs of LIPA's customers and offers economic benefits to the local community," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology.
The project is expected to generate between $700,000 and $900,000 in annual tax revenue. The energy produced is estimated to displace 29,000 tons of greenhouse gas emissions annually and create nearly 1 million megawatt-hours of clean, renewable energy over its lifetime.
"Repurposing the former Tallgrass Golf Course into a solar site eliminates the use of pesticides and fertilizers on the property, protecting Long Island's fresh water aquifer," said Invenergy's EVP and Chief Development Officer Bryan Schueler. "We also planted 2,000 trees on the site, providing further environmental benefits in addition to the generation of renewable energy."
Duke Energy Renewables
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar electric generation facilities across the U.S. The portfolio includes nonregulated renewable energy, as well as energy storage assets.
Duke Energy Renewables' utility-scale wind and solar assets total about 2,900 megawatts (MW) – across 14 states – from 21 wind and 64 solar projects. The power produced by these projects is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities, and commercial and industrial customers. Visit Duke Energy Renewables for more information.
Duke Energy Renewables is part of the Commercial Renewables business unit of Duke Energy (NYSE: DUK).
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Invenergy
Invenergy, North America's largest, privately held renewable energy company, drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.
Invenergy has developed more than 19,900 megawatts of projects that are in operation, construction or contracted, including wind, solar and natural gas power generation projects and energy storage facilities. For more information, please visit www.invenergyllc.com.
Duke Energy media contact: Tammie McGee
800.559.3853
Invenergy media contact: Mary Ryan
312.582.1424
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SOURCE Duke Energy
Article Date
7/9/2018Duke Energy increases quarterly dividend payment by 4.2 percent
Source: PR Newswire
CHARLOTTE, N.C., July 6, 2018 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.9275 per share, an increase of $0.0375 per share, or 4.2 percent.
The dividend is payable on Sept. 17, 2018, to shareholders of record at the close of business Aug. 17, 2018.
"For 92 consecutive years, the dividend has played an important role in delivering value to our shareholders," said Lynn Good, chairman, president and CEO. "This increase reflects continued confidence in our ability to produce strong financial results as we execute our long-term strategy."
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Dave Scanzoni
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
7/6/2018Duke Energy Indiana helps customers manage electricity costs as summer heat continues
Source: PR Newswire
PLAINFIELD, Ind., July 6, 2018 /PRNewswire/ -- Hot weather can lead to higher energy bills as Duke Energy Indiana customers try to stay cool this summer. The company is offering free tools and tips to help customers manage those costs.
"We know that May and June brought above-average temperatures in our Indiana service territory, and according to our company meteorologists, that trend will continue in July and August," said Melody Birmingham-Byrd, Duke Energy Indiana state president. "We want to make sure our customers have the information and tools they need to help control their energy costs."
Ways to manage summer electricity bills
Duke Energy offers free programs and tools to help customers better understand and manage their energy expenses. Keep in mind that the further your thermostat setting is from the actual temperature outside, the more energy you'll use. Here are some tips to help manage costs:
Low- to no-cost summer tips
Additional resources
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,700 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy Indiana is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/6/2018Duke Energy Florida helps customers manage electricity costs as summer heat continues
Source: PR Newswire
ST. PETERSBURG, Fla., July 6, 2018 /PRNewswire/ -- Hot weather can lead to higher energy bills as Duke Energy Florida customers try to stay cool this summer. The company is offering free tools and tips to help customers manage those costs.
"We know that July and August are typically Florida's hottest months of the year," said Catherine Stempien, Duke Energy Florida president. "We want to make sure our customers have the information and tools they need to help control their energy costs."
Ways to manage summer electricity bills
Duke Energy offers free programs and tools to help customers better understand and manage their energy expenses. Keep in mind that the further your thermostat setting is from the actual temperature outside, the more energy you'll use. Here are some tips to help manage costs:
Low- to no-cost summer tips
Additional resources
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including natural gas, coal and renewables, providing about 9,300 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
Duke Energy Florida is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-florida-helps-customers-manage-electricity-costs-as-summer-heat-continues-300676988.html
SOURCE Duke Energy
Article Date
7/6/20187/6/2018 - Duke Energy helps North Carolina customers manage electricity costs as summer heat continues
Duke Energy helps North Carolina customers manage electricity costs as summer heat continues
Source: PR Newswire
CHARLOTTE, N.C., July 6, 2018 /PRNewswire/ -- Hot weather can lead to higher energy bills as Duke Energy customers in North Carolina try to stay cool this summer. The company is offering free tools and tips to help customers manage those costs.
"We know that June brought above-average temperatures here in North Carolina, a trend that will likely continue through the summer months," said David Fountain, Duke Energy's North Carolina president. "Our goal is to ensure our customers have the information and tools they need to help control their energy costs."
Ways to manage summer electricity bills
Duke Energy offers free programs and tools to help customers better understand and manage their energy expenses. Keep in mind that the further your thermostat setting is from the actual temperature outside, the more energy you'll use. Here are some tips to help manage costs:
Low- to no-cost summer tips
Additional resources
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-helps-north-carolina-customers-manage-electricity-costs-as-summer-heat-continues-300676982.html
SOURCE Duke Energy
Article Date
7/6/2018Duke Energy Ohio helps customers manage electricity costs as summer heat continues
Source: PR Newswire
CINCINNATI, July 6, 2018 /PRNewswire/ -- Hot weather can lead to higher energy bills as Duke Energy Ohio customers try to stay cool this summer. The company is offering free tools and tips to help customers manage those costs.
"We know that May and June brought above-average temperatures here in the Greater Cincinnati area, and according to our company meteorologists, that trend will continue in July and August," said Amy Spiller, president, Duke Energy Ohio and Kentucky. "We want to make sure our customers have the information and tools they need to help control their energy costs."
Ways to manage summer electricity bills
Duke Energy offers free programs and tools to help customers better understand and manage their energy expenses. Keep in mind that the further your thermostat setting is from the actual temperature outside, the more energy you'll use. Here are some tips to help manage costs:
Low- to no-cost summer tips
Additional resources
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
Office: 513.287.2432 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-ohio-helps-customers-manage-electricity-costs-as-summer-heat-continues-300676950.html
SOURCE Duke Energy
Article Date
7/6/2018Duke Energy receives highest honor from the U.S. Department of Defense for its support of National Guard and Reserve employees
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., June 26, 2018 /PRNewswire/ -- Duke Energy (NYSE: DUK) today announced that it has received the 2018 Secretary of Defense Employer Support Freedom Award, the highest honor the U.S. Department of Defense gives to companies for their outstanding support for employees who serve in the National Guard and Reserve.
The award is presented annually by the Secretary of Defense, and Duke Energy was one of only 15 companies nationwide to be selected out of more than 2,300 nominations.
"We're extremely proud to support the men and women who serve our country, protect our freedom and who make our company great," said Duke Energy Chairman, President and CEO Lynn Good. "Our colleagues who serve in the National Guard and Reserve sacrifice so much for our country, and it's critical that we give them the support they need back home so they can focus on their mission while they're away."
Sam Johnson, a Duke Energy project manager in Charlotte and a major in the Marine Corps Reserve, nominated Duke Energy for the award because of the ongoing support he receives when he is called up for duty and training drills. Sam recently returned from two weeks in the Mojave Desert where he trained with his artillery unit.
"I know that Duke Energy actively cares for me and my fellow reservists," said Johnson. "My management understands the commitment I have to our country and genuinely cares about the welfare of my family and me. They ensure I have the tools and support I need while I'm away and ease my transition back to work when I return from duty."
Jonathan Butler, a Duke Energy work control center operator and an Army reservist who was deployed for 18 months to support Operation Iraqi Freedom, recalls the overwhelming support he received from his colleagues, including several care packages that were sent to his unit.
"I'm starting my 18th year of service. I will say from talking to some of my former soldiers that I was in the best possible situation with a company that fully supports the National Guard and Reserve soldiers," said Butler. "Not many of them experienced the same type of financial and moral support that I had. I'm grateful to my company for that experience."
Lieutenant Colonel Bryan Pipkin, a National Guard operations officer and 21-year Duke Energy employee, says he long ago recognized that the company benefits and co-worker support he received from Duke Energy far exceeded those received by others in his National Guard unit.
"When I was being deployed for Operation Noble Eagle, I looked around and there were 200 soldiers leaving that day," said Pipkin. "I saw less than five employers there seeing us off, and my company was one of them. To me, that says it all."
Employer Support of the Guard and Reserve (ESGR) is a Department of Defense office whose mission is to gain and maintain employer support for Guard and Reserve service by advocating relevant initiatives, recognizing outstanding support, increasing awareness of applicable laws and resolving conflict between employers and service members.
Highlights of Duke Energy's commitment to supporting its military veterans and employees who actively serve in the National Guard and Reserve:
Only 250 companies have received the Freedom Award since its inception in 1996. Duke Energy will receive the award during a formal ceremony held at the Pentagon on Aug. 24, 2018.
To learn more about how to transition from the military and start a career with Duke Energy, visit www.duke-energy.com/our-company/careers/military-programs.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-receives-highest-honor-from-the-us-department-of-defense-for-its-support-of-national-guard-and-reserve-employees-300672520.html
SOURCE Duke Energy
Article Date
6/26/2018Duke Energy to announce second quarter 2018 financial results on Aug. 2
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., June 26, 2018 /PRNewswire/ -- Duke Energy will announce its second quarter 2018 financial results at 7 a.m. ET on Thursday, Aug. 2, 2018 in a news release to be posted on the company's website at duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the second quarter 2018 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (www.duke-energy.com/investors) of Duke Energy's website or by dialing 888-778-8913 in the U.S. or 719-325-4773 outside the U.S. The confirmation code is 5013212. Please call 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 12, 2018, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S., and using the code 5013212. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
6/26/2018New 70-Mile Transmission Line Energized In Indiana To Improve Regional Reliability, Expand Access To Renewable Energy And Other Resources
Source: PR Newswire
COLUMBUS, Ohio, June 26, 2018 /PRNewswire/ -- Pioneer Transmission, LLC – a joint venture of Duke Energy and American Electric Power (AEP) – and Northern Indiana Public Service Company, LLC (NIPSCO) today announced the completion of an approximately 70-mile transmission line connecting the Greentown Station near Kokomo, Indiana, to the Reynolds Station located in Reynolds, Indiana. The project, which began in 2013, included upgrades to the Reynolds Station in addition to the new extra-high voltage 765-kilovolt (kV) transmission line.
"This collaborative project with AEP, Duke and NIPSCO strengthens the reliability of the energy system for customers and provides a new pathway for delivering renewable energy, such as wind power, to all customers in the region," said Lisa Barton, executive vice president, AEP Transmission.
The Greentown-Reynolds project is one of 17 priority Multi-Value Projects (MVPs) identified by the Midcontinent Independent System Operator, Inc. (MISO), which controls and operates the transmission grid for all or parts of 15 Midwest U.S. states, including Indiana, and the Canadian province of Manitoba. These priority projects together support regional reliability, broaden access to renewable energy and help ensure customers have access to affordable energy delivery options.
"The improvements we're making to the energy grid in this area allow us to provide better service to customers and meet their desire for access to cleaner energy," said Violet Sistovaris, NIPSCO president.
The Greentown-Reynolds line and substation upgrades represent a $347 million investment in the region's transmission system.
The Greentown-Reynolds line is the first phase of Pioneer Transmission's 290-mile plan to connect Duke Energy's Greentown Station to AEP's Rockport Station east of Evansville, Indiana.
"With the Pioneer project, we are making significant improvements to the energy delivery system for customers in Indiana and beyond, creating a more efficient link between the region's power plants and allowing for the integration of renewables and other new technologies on the grid," said Chris Fallon, president of Duke Energy Transmission Holdings.
Pioneer Transmission, LLC is a joint venture formed by Duke Energy (NYSE: DUK) and American Electric Power (NYSE: AEP) to build and operate approximately 290 miles of 765-kilovolt (kV) transmission lines and related facilities in Indiana. Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. AEP, headquartered in Columbus, Ohio, delivers electricity to more than 5.4 million customers in 11 states and operates the nation's largest electricity transmission system. Northern Indiana Public Service Company (NIPSCO), with headquarters in Merrillville, Indiana, is Indiana's largest natural gas distribution company and the second-largest electric distribution company, serving approximately 810,000 natural gas and 460,000 electric customers across 32 counties.
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SOURCE Pioneer Transmission, LLC
Article Date
6/26/20186/22/2018 - Reading remediation pays big dividends: Duke Energy donates $400,000 for Indiana youth reading programs
Reading remediation pays big dividends: Duke Energy donates $400,000 for Indiana youth reading programs
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., June 22, 2018 /PRNewswire/ -- Again this year, the Duke Energy Foundation is investing approximately $400,000 in Indiana youth statewide to improve literacy, including helping maintain and improve reading levels over the summer.
"A child's ability to read at grade level is one of the strongest indicators of whether that child will succeed in school and in life," said Melody Birmingham-Byrd, Duke Energy state president for Indiana. "We are committed to supporting these summer reading programs that can give students the confidence they need to learn and grow."
In addition to school-year programs and reading summits, 18 Indiana schools are receiving grants ranging from approximately $6,000 to more than $25,000 for wide-ranging summer reading initiatives. (List of schools below.) The programs largely target students prior to third grade. Some examples include:
Monroe County Community Schools – An immersive summer remedial reading program for struggling readers completing first and second grades. The program will also provide an intensive summer reading camp for identified at-risk children to keep them moving forward in their skills.
Kokomo School Corporation – Will establish a four-week literacy camp for first- and second-grade students who are reading below grade level. The targeted students will receive a summer reading bag that includes 10 books and a "think sheet" for each book.
Facts on reading and education
According to The Literacy Project:
The Duke Energy Foundation provides philanthropic support to address needs vital to the health of our communities. Annually, the foundation funds approximately $2 million in charitable grants in Indiana. The Foundation's investment priorities include K-to-career education, environment and community impact.
Schools receiving Duke Energy 2018 summer reading program grants include:
|
Clarksville Community School Corporation |
$16,000 |
|
Crawford County Community School Corporation |
$19,500 |
|
Decatur Community Schools |
$14,150 |
|
Eastwood Elementary School |
$6,200 |
|
Foundation of Monroe County Community Schools |
$23,655 |
|
Greater Clark County Schools |
$19,150 |
|
Hamilton Heights School Corporation |
$25,257 |
|
Kokomo School Corporation |
$24,722 |
|
Lafayette School Corporation |
$23,824 |
|
MSD Martinsville Schools |
$22,896 |
|
Milan Community Schools Corporation |
$19,187 |
|
MSD of North Posey County |
$25,000 |
|
New Castle Community School Corporation |
$8,205 |
|
North Knox School Corporation |
$25,000 |
|
North Lawrence Community Schools |
$14,776 |
|
Salem Community Schools Corporation |
$18,560 |
|
South Vermillion Community Schools |
$25,000 |
|
Vigo County School Corporation |
$24,394 |
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/22/2018Duke Energy connects students and educators with STEM, literacy and workforce development opportunities in North Carolina
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., June 5, 2018 /PRNewswire/ -- Duke Energy is empowering students, educators and the workforce of the future by investing $2.5 million in 67 education and training initiatives across North Carolina.
The 2018 grants, from the Duke Energy Foundation, will enhance educational programs focused on science, technology, engineering and math (STEM), K-3 early childhood literacy and workforce development.
"Building a brighter future begins with providing students with the best education and opportunities for success," said David Fountain, Duke Energy's North Carolina president. "Our investments will strengthen and expand access to high-impact programs that help develop a more diverse, highly skilled workforce."
Examples of this year's grant recipients include:
Here is a complete list of the 67 grant recipients and summaries.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $33 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy (NYSE: DUK) is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Contact: Grace Rountree
Office: 919.546.2557 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-connects-students-and-educators-with-stem-literacy-and-workforce-development-opportunities-in-north-carolina-300660086.html
SOURCE Duke Energy
Article Date
6/5/2018Duke Energy celebrates opening of new state-of-the-art natural gas plant at the W.S. Lee Station in South Carolina
Source: PR Newswire
GREENVILLE, S.C., June 1, 2018 /PRNewswire/ -- Duke Energy today celebrated the opening of the new 750-megawatt combined-cycle natural gas plant at the W.S. Lee Station in Anderson County, S.C., with community leaders, elected officials and top company leaders on hand.
"Highly efficient natural gas plants – like W.S. Lee – are helping us deliver a cleaner, smarter energy future for our customers," said Lynn Good, chairman, president and CEO of Duke Energy. "South Carolina is important to Duke Energy, and new investments like this further our commitment to power this community with reliable, affordable energy – while continuing to be a partner that's helping prepare the region for future growth."
Customers rely on energy today more than ever, and that demand will continue to increase during the next 15 years. Building highly efficient natural gas plants is part of Duke Energy's balanced approach to modernizing the fleet, maintaining a diverse fuel portfolio, managing costs and providing reliable and increasingly clean energy to communities across South Carolina.
"The Lee Steam Plant is so important to this area," said Anderson County Councilwoman Cindy Wilson. "You have reinvented and innovated your way to this point, and many people here today will have descendants we anticipate in a hundred years gathering back here and across our county to celebrate another wonderful announcement."
Environmental benefits
Combined-cycle natural gas units generate energy more efficiently and release significantly lower emissions than coal-fired units. For example, nitrogen oxides, sulfur dioxide and other emissions are expected to drop by 87 percent overall in comparison to the station's previous coal-fired operation.
Duke Energy closed two coal-fired units at the W.S. Lee Station in 2014 and converted a third coal unit to natural gas in 2015. The company no longer operates any coal plants in South Carolina.
"We're very proud to see them use natural gas in our region and improve air quality by moving away from coal-fired plants," said Williamston Mayor Mack Durham.
Economic and community benefits
Since 1951, Duke Energy's W.S. Lee Station has helped power the economic growth of the region, and that tradition continues with this new plant. Construction of the $700 million plant started in March 2015. The project created more than 600 construction jobs and provided about $12 million in work to local subcontractors.
The new combined-cycle unit is also expected to generate about $4.4 million in tax revenue in 2019 for Anderson County.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Carolinas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Heather Danenhower
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/1/2018Carolinas' waterways get $1.2 million boost from Duke Energy
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 31, 2018 /PRNewswire/ -- Sixteen organizations spanning 46 counties in North Carolina, South Carolina and Virginia will receive more than $1.2 million in new grants from Duke Energy's Water Resources Fund to support environmental and wildlife programs.
The fund is a $10 million multiyear commitment from Duke Energy to help local organizations continue to protect and improve the environment, including waterways used year-round across the Carolinas and neighboring states. To date, the fund has invested $8.5 million to support 102 projects to protect natural resources, including more than $1.5 million in the Dan River Basin.
"Our region is home to some of the nation's most beautiful and treasured waterways," said David Fountain, Duke Energy's North Carolina president. "Our commitment to improve these water resources runs as deep as the waterways we seek to protect."
"Public access will be provided – in increased measure – to the waterways surrounding Gallants Channel in Carteret County and the Town of Beaufort with over 3,000 square feet of floating docks and marina facilities, raising citizen awareness of the value of our state's rich maritime history and culture," said Jerri Sutton, president of Maritime Heritage Foundation of Beaufort, North Carolina Inc. "Marina facilities and floating docks will literally put visitors to Gallants Channel on the coastal waters of North Carolina."
"From conserving lands with abundant water resources to providing access to boats and kayaks and everything in between, the projects we're supporting will benefit generations to come," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "We're proud to support the 16 organizations whose vision and innovation will protect and improve our waterways."
"The Duke Energy Water Resources Fund grant will enable the county to restore passage in four priority areas along Lynches River by clearing debris that has become a hindrance for users," said Florence County Administrator K.G. Rusty Smith Jr. "This will improve commerce along the route and enable the county to attain its goal of providing access for canoes and kayaks along this beautiful, scenic river. We are extremely appreciative of the partnership that we enjoy with Duke Energy and the award of this grant."
Grants are selected by an independent panel with diverse environmental expertise. The panel includes five external members and two Duke Energy representatives. View an interactive map showcasing all 102 grantees at duke-energy.com/H2O.
Additional details on the grants follow:
North Carolina
South Carolina
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The Foundation contributes more than $33 million annually in charitable gifts.
The Foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math (STEM) – as well as early childhood literacy and workforce development. The Foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
The Duke Energy Foundation is part of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
Office: 980.373.6408 | 24-Hour: 800.559.3853
Twitter - @CandiceKnez
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SOURCE Duke Energy
Article Date
5/31/20185/29/2018 - NCUC approves Piedmont Natural Gas request to decrease rates for the fourth time in 2018
NCUC approves Piedmont Natural Gas request to decrease rates for the fourth time in 2018
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 29, 2018 /PRNewswire/ -- Today, the North Carolina Utilities Commission (NCUC) approved two rate change requests from Piedmont Natural Gas, which together decrease the average residential customer's monthly bill by $1. In May 2018, Piedmont Natural Gas filed requests with the NCUC to change two separate components of its billing rate – the Integrity Management Rider (IMR) and the benchmark commodity cost of natural gas.
The IMR rate change results in a decrease of $.44 per dekatherm for residential customers and a decrease of $.26 per dekatherm for small and medium general-service customers. The benchmark commodity cost of natural gas is increasing from $2.50 per dekatherm to $2.75 per dekatherm.
These rate component changes together result in a residential customer billing rate decrease of $.19 per dekatherm and will take effect June 1, 2018. This will be Piedmont's fourth rate decrease for North Carolina customers in 2018. With this latest rate decrease included, the average residential customer's monthly bill has decreased by approximately $6.
Piedmont requests occasional rate adjustments to reflect changes in the commodity price of the natural gas Piedmont purchases for its customers. By law, Piedmont is not allowed to mark up the cost of natural gas and must pass through the actual cost on a dollar-for-dollar basis.
Piedmont Natural Gas
Piedmont Natural Gas is an energy services company whose principal business is the distribution of natural gas to more than 1 million residential, commercial and industrial customers, as well as power plants, in North Carolina, South Carolina and Tennessee.
Piedmont is routinely recognized by J.D. Power for excellent customer satisfaction, and was named by Cogent Reports in 2017 as one of the most trusted utility brands in the U.S.
Piedmont Natural Gas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
5/29/2018Duke Energy energizes Ohio and Kentucky with nearly $600,000 in STEM, literacy and workforce development grants
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CINCINNATI, May 22, 2018 /PRNewswire/ -- Duke Energy is expanding its investment in local students and workforce development by funding 36 education and training programs – totaling nearly $600,000 – in southwest Ohio and Northern Kentucky.
The grants, which are administered by the Duke Energy Foundation, will benefit and enhance educational programs focused on science, technology, engineering and math (STEM), childhood reading proficiency and workforce development.
"Preparing the workforce of tomorrow begins right now," said Jim Henning, president of Duke Energy Ohio & Kentucky. "These investments directly benefit local students of all ages and backgrounds. And, in turn, we're helping our communities embrace change and prepare for a future workforce that will look a lot different than today."
Examples of this year's STEM, literacy and workforce development grant recipients include:
Click here for a complete list of the 36 STEM, literacy and workforce development grants, which total $599,025.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of communities where its customers live and work. The foundation contributes more than $33 million annually in charitable gifts.
The foundation's education focus spans kindergarten to career – particularly science, technology, engineering and math – as well as early childhood literacy and workforce development. The foundation also supports environmental projects and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders with a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 533,000 customers.
Duke Energy Ohio/Kentucky is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
513.287.2432 | @DE_SallyT
24-Hour Media Line: 800.559.3853
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SOURCE Duke Energy
Article Date
5/22/2018Duke Energy makes executive appointments in finance organization
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 22, 2018 /PRNewswire/ -- Duke Energy today made several executive appointments in its finance organization, effective June 1.
Bill Currens – currently senior vice president, controller and chief accounting officer, will assume leadership of the financial planning and analysis organization. In his new position, Currens, 49, will be responsible for the business and financial planning functions of the enterprise, including oversight of the company's financial forecast. He will also manage the design of policies, processes and systems that support the transformation of the finance function at Duke Energy.
A 16-year veteran of the company, Currens joined Duke Energy in 2002 as a manager in the controller's organization, moving on to lead the company's investor relations team for nearly a decade. Before joining Duke Energy, he spent more than nine years with the public accounting firm KPMG.
Dwight Jacobs – currently senior vice president of financial planning and analysis, will assume Currens' role as senior vice president, controller and chief accounting officer. Jacobs, 53, will oversee the accounting, financial reporting and internal controls for the corporation.
Jacobs also joined the company in 2002 and served in leadership roles in rates and regulatory strategy, enterprise risk management, as well as utility planning and accounting. Prior to Duke Energy, he was a partner with Arthur Andersen in Washington, D.C.
Karl Newlin – currently senior vice president and chief commercial officer of natural gas, will become senior vice president of corporate development. Newlin, 49, succeeds Catherine Stempien, who was named president of Duke Energy Florida. He will oversee the execution of mergers/acquisitions and divestitures, as well as help the company develop its external growth strategy.
Newlin joined Piedmont Natural Gas in 2010, focused on managing the company's strategic functions and business development opportunities. Newlin also served as chief financial officer for Piedmont prior to Duke Energy's acquisition of the company in 2016.
"Bill, Dwight and Karl each bring unique experiences and a wealth of knowledge to their new roles in the finance function," said Steve Young, Duke Energy's executive vice president and chief financial officer. "These leaders have a deep history in the energy industry and will position the company to deliver value for customers and growth for shareholders as we transform our business and execute our long-term investment strategy."
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
Office: 980.373.1828 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/22/2018Duke Energy to sell five small hydroelectric plants to Northbrook Energy
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 16, 2018 /PRNewswire/ -- Duke Energy Carolinas (DEC) announced today that through a competitive bidding process, it will sell five small hydroelectric plants in the Western Carolinas region to Northbrook Energy. The transaction will save customers money over time, while ensuring a continued source of clean energy.
The facilities, which have a combined 18.7-megawatt generation capacity, are Bryson, Franklin and Mission hydro stations in the Nantahala area, and Tuxedo and Gaston Shoals hydro stations in the Green/Broad River Basin.
DEC will purchase all of the energy generated by these facilities for five years through power purchase agreements with Northbrook Energy.
"This sale will deliver long-term benefits for our customers and shareholders," said Randy Herrin, Duke Energy Vice President, Carolinas Regulated Renewables. "Over the past few years, the cost to operate these facilities has risen significantly. Through this transaction, the plants will continue to serve our customers with clean renewable energy, but at a lower cost."
"Northbrook is pleased with the opportunity to supplement its renewable hydroelectric portfolio in the Carolinas and leverage its local operating efficiencies," said Chuck Ahlrichs, President of Northbrook Energy. "Nearly 22 years after our first purchase of hydropower assets from Duke Energy, we are excited to build on our success in the region by expanding employment opportunities and proffering hydropower's baseload capabilities in support of the region's demonstrated desire to deploy intermittent renewables such as wind and solar."
Northbrook Energy is a privately-held, independent power producer that has been in the hydroelectric business for more than 30 years. The company operates hydro assets in 12 states, including the Carolinas. Northbrook partnered with New Energy Capital Partners, LLC to finance the acquisition of these hydroelectric plants.
Based on the upkeep investments needed over time, DEC determined it was in the best interest of customers to sell the facilities. Financial terms of the transaction, which will result in net savings for customers over time, are not being disclosed presently. DEC will seek approval from state regulators to establish a regulatory asset for the retail portion of the difference between sales proceeds and net book value.
The completion of the transaction is subject to approval from the Federal Energy Regulatory Commission (FERC) to transfer the hydroelectric licenses to Northbrook Energy, as well as other state regulatory approvals.
Northbrook Energy will be required to comply with all FERC license requirements as well as existing agreements entered into by DEC, which Northbrook will assume.
Closing is expected to occur in the first quarter of 2019.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy Carolinas is a subsidiary of Duke Energy (NYSE: DUK).
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Northbrook Energy
Northbrook Energy is a privately held independent power producer that has been acquiring and operating renewable, hydroelectric facilities throughout the U.S for over 30 years. The company has invested alongside its partners, transacting with public and private companies including independent power producers, investor-owned utilities, manufacturers, counties and municipalities. Through Northbrook's fully-owned operations, maintenance and asset management company, Northbrook Power Management LLC, the company provides turn-key O&M services to private equity and pension funds, infrastructure companies, utilities, municipalities and insurers.
Additional information about Northbrook is available at nbenergy.com and northbrookpower.com.
Duke Energy Media contact: Catherine Butler
24-Hour Media Line: 800.559.3853
Northbrook Energy Media Contact: Chris Sinclair
480.551.1228
Duke Energy Analyst Contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
5/16/2018Duke Energy helps advance site readiness projects in six Indiana counties
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., May 15, 2018 /PRNewswire/ -- Duke Energy's economic development consultants have selected six Indiana locations to participate in the company's 2018 Site Readiness Program.
The locations include:
The Site Readiness Program identifies, evaluates and improves sites in the company's service territory for potential industrial development.
"Duke Energy is honored to select these communities for participation in the 2018 Site Readiness Program," said Erin Schneider, director of economic development for Duke Energy Indiana. "We are eager to contribute resources to help promote economic development, jobs and quality of life for these regions."
A national site consulting firm will evaluate five of the six sites, while Banning Engineering will produce conceptual drawings and site plans.
The Franklin County site will participate in a first-time Site Readiness Light Program, which includes the same treatment as the other five sites, but without the evaluation from McCallum Sweeney Consulting. This will then qualify the site to participate in the full Site Readiness Program as early as next year.
Duke Energy will present its findings for each site – including a detailed report and conceptual drawings – to city and county officials when the studies are completed later this year. Economic development organizations in each location will also receive a check for $10,000 from Duke Energy to help implement the recommendations.
After each site's state of readiness has advanced, Duke Energy's business development team will strategically market those sites nationwide to companies looking to expand or relocate their operations.
Ideal properties for Duke Energy's Site Readiness Program are typically 40 acres or larger, served by the utility, or a vacant industrial building of at least 20,000 square feet identified to support renewed industrial growth and sustainable development in a community.
Duke Energy Indiana's overall economic development program has been consistently named by Site Selection magazine as one of the nation's "Top 10 Utility Economic Development Programs." Since 2008, the company has participated in the creation of nearly 20,000 jobs with a total capital investment of approximately $4.5 billion.
For more information about Duke Energy Indiana's economic development programs, visit locationindiana.com.
About Duke Energy
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/15/2018Duke Energy reports first-quarter 2018 financial results
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 10, 2018 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its first-quarter 2018 financial results in a news release available on the company's website at the following link: www.duke-energy.com/our-company/investors/financial-news.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (www.duke-energy.com/our-company/investors/financial-news) of Duke Energy's website or by dialing 888-601-3869 in the United States or 719-325-4760 outside the United States. The confirmation code is 3587017. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 20, 2018, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 3587017. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the U.S., with approximately 29,000 employees and a generating capacity of 49,500 megawatts. The company is transforming its customers' experience, modernizing its energy grid, generating cleaner energy and expanding its natural gas infrastructure to create a smarter energy future for the people and communities it serves.
The company's Electric Utilities and Infrastructure unit serves approximately 7.6 million retail electric customers in six states – North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky. Its Gas Utilities and Infrastructure unit distributes natural gas to approximately 1.6 million customers in five states – North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Its Commercial Renewables unit operates a growing renewable energy portfolio across the U.S.
A Fortune 125 company, Duke Energy was named to Fortune's 2018 "World's Most Admired Companies" list and Forbes' 2018 "America's Best Employers" list.
More information about the company is available at duke-energy.com. The Duke Energy News Center includes news releases, fact sheets, photos, videos and other materials. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
5/10/20185/7/2018 - Duke Energy helps South Carolina customers go solar with more than $50 million in rebates
Duke Energy helps South Carolina customers go solar with more than $50 million in rebates
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
GREENVILLE, S.C., May 7, 2018 /PRNewswire/ -- Students at Independence Elementary School in Rock Hill, S.C., recently celebrated a week of activities focused on science and technology by flipping the switch on the newest addition to the Patriots' campus: a 230-kilowatt solar system made possible by the Duke Energy Solar Rebate Program.
The solar installation is one of the largest of any K-12 school in Duke Energy's South Carolina service territory and was installed by Strata Solar. Duke Energy provided the school a $280,000 rebate for the system, which will be a tremendous learning tool for students once fully integrated into their STEM lesson plans.
"As a principal, it is always my goal to grow my students and prepare them for their desired career paths, many of which have yet to be created," said Kimberly Odom, principal of Independence Elementary. "The partnership with Duke Energy on the solar installation allows our school to be able to provide students with different learning opportunities that prepare them for future careers in the STEM field. This is a fantastic partnership and we look forward to leveraging this resource for many years to come."
Duke Energy's Solar Rebate Program has provided more than $50 million to help defray the upfront cost of solar installation to customers across the state. The rebate program was one of several solar initiatives made possible by Act 236, legislation that successfully spurred the South Carolina solar energy market, making it one of the top 10 states in the nation for solar energy. Now at full capacity, the program has been incredibly successful among customers across the state.
"Act 236 has been a game-changer for the growth of solar in the Palmetto State," said Kodwo Ghartey-Tagoe, Duke Energy's state president in South Carolina. "That collaborative effort among solar developers, energy companies, environmentalists and other stakeholders has created jobs and allowed thousands of customers to participate in the renewable marketplace."
That growth spurred by Act 236 continues today as the price of solar installations are steadily declining, making the option a more affordable one for homes and businesses. In fact, more than 5,000 Duke Energy customers in South Carolina have incorporated rooftop solar into their daily lives.
Duke Energy's Renewable Service Center, a call center designed to help customers through the solar installation process, counsels customers through their options to install solar energy throughout the year, regardless of what programs the company is offering. "Even though the Solar Rebate Program has now successfully reached capacity, our teammates at the solar service center are talking daily with customers to help them through the process of integrating renewables at their home or business," said Eric Clark, manager of the Renewable Service Center.
In addition to the rebate program, Duke Energy plans to launch a community solar program this year to let multiple customers share the economic benefits of a single solar facility. The company is also on track to complete plans to meet the goal of the law of adopting 53 megawatts of utility scale solar.
For more information on Duke Energy solar programs or to talk to someone at the Renewable Service Center, visit customerownedgeneration@duke-energy.com or call 866.233.2290.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
Twitter: @DE_RyanMosier
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SOURCE Duke Energy
Article Date
5/7/20185/3/2018 - Duke Energy customers are centerpiece of company's long-term strategy, CEO Good tells shareholders
Duke Energy customers are centerpiece of company's long-term strategy, CEO Good tells shareholders
Source: PR Newswire
CHARLOTTE, N.C., May 3, 2018 /PRNewswire/ -- Duke Energy's customers represent the centerpiece of the company's long-term strategy, Chairman, President and CEO Lynn Good today told investors during the company's annual shareholders meeting, held online using a live video webcast.
"We're on a journey to deliver the experience our customers expect," Good said. "As we continue to meet our customers' changing needs, building a smarter, more resilient energy grid is essential. That's why we're making investments to improve reliability, integrate more renewable energy and provide customers with the information they need."
For example, upgrading Duke Energy's electricity distribution grid with self-optimizing technologies will allow the company to anticipate outages and reroute power when an outage occurs, Good said.
"Deployment is underway and will build upon the smart grid investments we've already made – which have helped us avoid over 1.2 million power interruptions and save customers 162 million outage minutes," she said. "Our goal is to have 80 percent of our customers connected to our smarter, self-optimized grid in the next decade.
"And, we're investing in smart meters that will give our customers real-time information to better control their energy use. In 2017, we deployed 1.2 million smart meters and remain on track to finish our deployment by 2021," she said.
Also in 2017, "we provided customers with usage and outage alerts – giving them more convenience and control over their energy usage. We started upgrading our customer information system and soon, we will launch a new mobile app, giving customers access to tools that they've come to expect," Good said.
Environmental commitment
Good also underscored the company's "long-standing commitment" to the environment.
"We've cut our carbon emissions by 31 percent from 2005 levels and we plan to reach 40 percent by 2030. To help meet this goal, we're investing $11 billion in cleaner generation – while retiring less efficient coal plants," she said.
In addition in 2017, "we connected 500 megawatts of new solar projects in North Carolina, helping the state remain second in the nation for solar capacity. We also announced plans for an additional 700 megawatts of solar in Florida, built our first three solar plants in Kentucky, and acquired one of the largest solar projects in New York."
Good said Duke Energy is now one of the nation's top renewable energy providers – on track to own or purchase 8,000 megawatts of wind, solar and biomass energy by 2020.
"We're also investing in natural gas generation – a cleaner alternative to coal. Natural gas is a perfect partner for our renewables portfolio, helping us balance demand when renewable resources are not available," she said.
Simultaneously, Good said, Duke Energy in 2017 made significant progress toward its long-term goal of closing coal ash basins.
"To date, we have excavated and relocated nearly 17 million tons of ash systemwide, with 7 million tons removed in 2017 alone. We're leading the industry on this important issue, and we're committed to closing basins in ways that protect the environment and customers," she said.
Good also highlighted Duke Energy's recently posted Climate Report, which provides information on the company's "efforts to mitigate risks from climate change and lower emissions."
Duke Energy's goal, she said, "is to reduce carbon emissions 40 percent by 2030, which is consistent with a 'two-degree scenario,'" as discussed in the report – https://www.duke-energy.com/_/media/pdfs/our-company/shareholder-climate-report.pdf
Economic development, community support
Economic development, job creation and community support also remained top priorities for Duke Energy in 2017, Good said.
The company "worked side by side with communities to attract $5.9 billion in capital investment, helping create over 12,000 jobs," she said. "And, our (Duke Energy) Foundation and employees contributed over $52 million to local organizations that help our communities thrive."
Duke Energy in 2017 also continued its ongoing initiatives to build an increasingly diverse company workforce.
"As we evolve for the future, our workforce is also evolving and becoming more agile. As a company, we're supplementing this effort by recruiting employees with diverse viewpoints and skill sets – who can create solutions to meet our customers' needs well into the future," Good said.
"For instance, we hired 400 veterans last year and plan to fill 12 percent of our open positions with veterans. Their training and leadership qualities will be critical for our business to succeed," she said.
Shareholders reject two proposals
Also at today's meeting, shareholders rejected a non-binding shareholder proposal that did not receive a majority of shares voted, as required to pass: "Shareholder proposal regarding providing an annual report on Duke Energy's lobbying expenses."
Separately, a binding company-sponsored proposal was not approved after failing to receive 80 percent of the total outstanding shares, as required: "Amendment to the Amended and Restated Certificate of Incorporation of Duke Energy Corporation to eliminate supermajority voting requirements."
Details about the proposals appear in the company's 2018 proxy statement – https://www.duke-energy.com/_/media/pdfs/our-company/investors/de-annual-reports/2017/2018-proxy-statement.pdf?la=en
Shareholders also elected the 14 board of director nominees, with each receiving at least 92 percent of the shares voted.
In addition, Good fielded 12 shareholder questions – submitted online before and during the meeting – on a range of topics. The company will post responses to all questions on its website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/3/2018Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 3, 2018 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.890 per share payable on June 18, 2018, to shareholders of record at the close of business May 18, 2018.
Duke Energy has paid a cash dividend for 92 consecutive years.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
5/3/2018Duke Energy named one of America's Best Employers by Forbes
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., May 1, 2018 /PRNewswire/ -- Duke Energy has been named to Forbes magazine's 2018 list of America's Best Employers. Out of 500 companies ranked, Duke Energy moved up 38 spots to #106 and is the highest-ranking Charlotte-based employer.
"By taking care of the people who take care of our customers, we have an engaged team that is driven by a purpose greater than themselves," said Lynn Good, Duke Energy's chairman, president and CEO. "We believe that investing in our people makes us a better company, and this recognition is proof of that."
The ranking is determined by an independent survey administered anonymously to approximately 30,000 U.S. employees working for companies employing at least 1,000 people in their U.S. operations. Respondents are asked to respond on several work related topics, including working conditions, salary, potential for development and company image.
Company performance highlights include:
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-named-one-of-americas-best-employers-by-forbes-300640251.html
SOURCE Duke Energy
Article Date
5/1/20184/25/2018 - Duke Energy announces new executive appointments
Duke Energy announces new executive appointments
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., April 25, 2018 /PRNewswire/ -- Duke Energy today announced two executive appointments in the company's drive to provide customers with more reliable, secure and increasingly clean energy.
Harry Sideris – currently president of Duke Energy Florida, will become senior vice president and chief distribution officer for the company. Sideris, 47, will be responsible for the safe, reliable and efficient operation of Duke Energy's electric distribution systems for the company's six-state service area, which includes North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Sideris succeeds Michael Lewis, who will retire effective June 30 after a 30-year career in the industry.
Sideris has 22 years of experience in the energy industry. He joined Progress Energy (formerly Carolina Power & Light) in 1996 and served in numerous operations, maintenance, technical and leadership roles across Progress Energy's generation fleet in the Carolinas and Florida. In July 2012, following the merger between Duke Energy and Progress Energy, he became vice president of power generation for Duke Energy's operations in the western portion of North Carolina and South Carolina. In August 2014, he was named senior vice president of environmental health and safety and assumed the role of Florida state president in January 2017.
"Power distribution is where we deliver for our customers, and Harry's operational background and customer-facing experience makes him the right leader for this job," said Lloyd Yates, executive vice president, customer and delivery operations and president, Carolinas region.
Catherine Stempien – currently senior vice president of corporate development will succeed Sideris as Florida state president. Stempien, 48, will be responsible for the financial performance of the company's Florida operations and will manage state and local regulatory and government relations, and community affairs. She will also work with the corporate and regulatory strategy teams to advance the company's rate and regulatory initiatives.
Stempien has 24 years of experience in finance and legal fields. In her current role as senior vice president of Corporate Development, Stempien is responsible for executing mergers/acquisitions and divestures and helping the company develop its external growth strategy. She led the divestiture of the company's Latin American generation business, as well as the sale of its Midwest generation business. She also led the acquisition of Piedmont Natural Gas and was responsible for overseeing the resulting integration.
Prior to her role in Corporate Development, Stempien practiced law, first in private practice, and then as in-house counsel in the telecommunications and energy fields. She joined the company in 2003 as an associate general counsel for Cinergy Corp. in Cincinnati. She has held numerous senior positions in the legal department covering virtually all areas of legal services to the company, including leading federal and state regulatory legal practices for Duke Energy prior to and immediately after the Duke Energy/Progress Energy merger in 2012. She was named to lead the corporate development function in 2014.
"Catherine's experience has prepared her well for this important role and she will be a powerful advocate for our customers," said Doug Esamann, executive vice president, energy solutions and president, Midwest and Florida regions.
Catherine's successor will be named at a later date.
"We deeply appreciate Michael Lewis' contributions to our company and the legacy he leaves behind as an industry leader," said Lynn Good, Duke Energy chairman and president.
"At the same time, Harry and Catherine will bring fresh perspectives and leadership to their new roles as we build a smarter energy grid for our customers and communities," added Good.
These changes are effective June 1.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Paige Layne
24-Hour: 800.559.3853
Paige.layne@duke-energy.com
Twitter - @DE_PaigeL
Contact: Valerie Patterson
24-Hour: 800.559.3853
Valerie.patterson@duke-energy.com
Twitter - @DE_ValerieP
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SOURCE Duke Energy
Article Date
4/25/2018Duke Energy to hold annual shareholders' meeting May 3
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., April 18, 2018 /PRNewswire/ -- Duke Energy will hold its annual shareholders' meeting Thursday, May 3, at 12:30 p.m. ET, online using a live video webcast.
Duke Energy Chairman, President and CEO Lynn Good will provide an overview of the company's 2017 performance and strategy for the future.
Shareholders will be able to watch her presentation, vote on company and shareholder proposals and, through a website, submit questions before and during the meeting. All questions will be answered, either during the meeting or afterward through a web posting.
Shareholders without computer or internet access to view the webcast will be able to listen to the meeting by calling a toll-free number. Information about how shareholders can access the webcast is available in Duke Energy's proxy statement.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Neil Nissan
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
4/18/2018From chasing storms to scaling poles, Duke Energy lineworkers keep the grid running
Source: PR Newswire
CHARLOTTE, N.C., April 17, 2018 /PRNewswire/ -- Lineworkers have jobs unlike any other – they chase storms, climb poles and know the ins and outs of the energy grid – and, with the demands of the job, are always on standby when severe weather strikes.
On April 18, we celebrate our lineworkers' role in powering the lives of millions of people across the country for National Lineman Appreciation Day. Their jobs are no easy feat and not for the faint of heart.
Whether they are scaling a 40-foot pole or sky-high in an elevated bucket truck, lineworkers ensure power flows to vital infrastructure such as hospitals and water treatment facilities and to our everyday conveniences at home. And, safety always remains the top priority.
"Our lineworkers consistently demonstrate unwavering support for our customers and communities," said Lloyd Yates, executive vice president customer and delivery operations and president Carolinas. "Their heroic efforts on the front lines – often in difficult circumstances – are tremendous, and they deserve to be honored for their work that families and businesses throughout America rely on."
Duke Energy's team of lineworkers battled storms, hurricanes and high winds the past year. Hurricane Irma caused more than 2 million power outages in Duke Energy service territories, and crews tackled restoration in the hurricane's aftermath.
Duke Energy crews also joined the U.S. utility industry effort to help restore power to the island of Puerto Rico, the U.S. territory hit hard by Hurricane Maria last year. Crews worked on the island for nearly two months – away from their families – in harsh terrain left in the wake of the hurricane to help restore normalcy to residents of Puerto Rico.
While more traditional aspects of the job such as climbing poles and towers remain, technology has enhanced the profession. Today, drones can be used to assess damage and string lines in areas with limited access following severe-weather events. New portable technology used by lineworkers in the field helps better inform customers on the status of outages including the cause, crew updates and the estimated time of restoration.
Like most professions, lineworkers use their own lingo, with tools nicknamed knucklebusters and goat faces, the gear that along with our lineworkers keeps the grid running for millions of people every day. Learn more about lineman lingo: https://illumination.duke-energy.com/articles/test-your-knowledge-of-lineman-lingo
More than 5,000 lineworkers are part of the Duke Energy family. They, along with thousands of contract lineworkers, are responsible for constructing, operating and maintaining equipment and more than 300,000 miles of power lines in Duke Energy's service territories – that is enough to wrap around the Earth 12 times. The 300,000 miles of power lines serve over 7 million customers – representing a population of more than 24 million people.
Those who wish to honor lineworkers and their families are encouraged to use the hashtag #ThankALineman in social media.
For more information about Duke Energy's lineworkers, follow @DukeEnergy and visit facebook.com/DukeEnergy.
To view a letter from a lineman's wife expressing her appreciation for her husband's job serving the community, visit https://illumination.duke-energy.com/articles/after-32-years-i-m-still-proud-to-be-a-lineman-s-wife.
To view a video of what a day in the life of a lineworker is like, visit http://illumination.duke-energy.com/articles/video:-a-day-in-the-life-of-a-lineworker.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
meghan.miles@duke-energy.com
Twitter - @DE_MeghanM
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SOURCE Duke Energy
Article Date
4/17/2018Duke Energy's $62 million solar rebate program approved for North Carolina residential, business and nonprofit customers
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., April 16, 2018 /PRNewswire/ -- Duke Energy's $62 million solar rebate program – which will help North Carolina customers with the upfront cost of installing solar panels on their property – was approved this month by the North Carolina Utilities Commission (NCUC).
The program is part of 2017's Competitive Energy Solutions for North Carolina law – also known as House Bill 589 – which includes new Duke Energy programs to benefit customers. See the NCUC ruling on the rebate program.
Customers can start signing up for the program this summer. They can keep up with the latest developments here.
"The Competitive Energy Solutions law for North Carolina will encourage solar ownership for customers while we pursue a balanced and affordable energy mix for all customers," said David Fountain, Duke Energy's North Carolina president. "It also allows Duke Energy to secure solar energy from independent facilities at a market rate – also a benefit for customers."
North Carolina is second in the nation for overall solar capacity. Currently, in North Carolina, Duke Energy has more than 6,000 customers who have private solar systems – with a total capacity of just over 50 megawatts. The program expects to increase North Carolina's private solar market by 200 percent over the next five years, providing an economic boost for the state's solar installation business as well.
"Duke Energy's North Carolina customers have never had a better opportunity to take control of their energy future with solar than with this rebate program. We're eager to work with those customers to take advantage of the incentive," said Jay Radcliffe, CEO of Renu Energy Solutions of Charlotte. "The federal tax credit is still in place. In nearly a decade of installing solar, now is the best time I've seen for customers to save."
Rebate Details
Under the program, residential customers will be eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW would be eligible for a $4,800 rebate. Installed systems 10 kW or greater would be eligible for a maximum rebate of $6,000.
Nonresidential customers would be eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) would be eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less. Installed systems 100 kW or greater would be eligible for a maximum rebate of $50,000 for nonresidential customers, or $75,000 for nonprofit customers.
Customers will also have a solar leasing option. Instead of owning the system, customers can lease solar panels from another company. Much like leasing a car, a third-party leasing agency owns the system while the customer has a contract to use the output of the solar panels.
"We structured our program to give customers as much flexibility as possible to pursue renewable options," added Fountain. "Of course, customers have to determine if solar energy fits their needs."
Earlier this year, Duke Energy announced two other solar programs as a result of the law. The programs are awaiting approval from the NCUC.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Randy.wheeless@duke-energy.com
Twitter - @DE_RandyW
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SOURCE Duke Energy
Article Date
4/16/2018Duke Energy to deliver $38 million in tax savings to Ohio and Kentucky customers
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CINCINNATI, April 13, 2018 /PRNewswire/ -- Duke Energy Ohio customers will receive approximately $20 million in annual tax savings on their electric bills beginning this month. The bill reduction is a result of the recent Tax Cuts and Jobs Act, which federal lawmakers passed in late 2017.
"The tax act provides a unique opportunity for us to reduce customers' bills by millions of dollars," said Jim Henning, president of Duke Energy Ohio and Kentucky. "And that's exactly what we're doing here – delivering real savings to our customers."
Duke Energy Ohio also plans to lower its customers' natural gas bills by about $3 million beginning in May – subject to the approval of proposals filed with state regulators.
"The tax act reduced our corporate tax rate – and that's a benefit we are pleased to pass along to our customers," said Henning. "However, the impacts on our business and customers go far beyond the reduction in the corporate tax rate. While some of the changes reduce our federal tax liabilities over time, others could actually increase our tax obligations.
"We considered all of these scenarios as we determined the best ways to pass along the benefits of the tax act to our customers. And we continue to work through various regulatory proceedings in our efforts to ensure that our customers receive the benefits of this new law."
Duke Energy proposes savings for Kentucky customers, too
Across the Ohio River in Kentucky, state regulators continue to review the company's proposals that recommend allocating more than $15 million of tax act benefits to Duke Energy Kentucky customers.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lee Freedman
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-to-deliver-38-million-in-tax-savings-to-ohio-and-kentucky-customers-300629743.html
SOURCE Duke Energy
Article Date
4/13/2018Duke Energy Ohio asks the Ohio Power Siting Board to move forward with its consideration of the Central Corridor Pipeline application
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CINCINNATI, April 13, 2018 /PRNewswire/ -- Duke Energy Ohio is moving forward with its application before the Ohio Power Siting Board (OPSB) to construct its proposed Central Corridor Pipeline in Hamilton County to ensure the safe and reliable delivery of natural gas to its customers in southwest Ohio for decades to come.
In August 2017, Duke Energy Ohio asked the OPSB for a delay in its application process to allow the company additional time to examine site-specific matters it became aware of through meetings with property owners and municipalities along the proposed alternate, or western, route that runs primarily through Blue Ash, Evendale and Reading.
Since then, Duke Energy Ohio has been advancing the design and alignment of this route. This involved taking a more in-depth look at all properties where the pipeline would be located, including near the Pristine Inc. Superfund site in Reading. Duke Energy Ohio conducted additional environmental testing including soil borings along the western route, in addition to reviewing records of existing environmental databases.
Duke Energy Ohio also continued meeting with property owners and community leaders along the proposed western route. As a result of the meetings and field activities, the company has made some minor adjustments on individual properties located along the western route.
This natural gas pipeline, approximately 13 miles long and 20 inches in diameter, is needed to balance the natural gas supply, improve our natural gas infrastructure and decommission two propane peaking stations. These peaking stations are used to supplement the local gas supply on the coldest days of the year.
The proposed pipeline would connect to an existing Duke Energy Ohio pipeline near the intersection of Butler, Warren and Hamilton counties and extend to an existing company pipeline in either the Norwood area or the Fairfax area. There are two proposed routes in Duke Energy Ohio's application – an eastern route and a western route.
"Duke Energy Ohio is committed to safely constructing this needed pipeline while mitigating impacts to the residential and business communities," said James Olberding, project manager. "Since August, we've had nearly 60 additional meetings with property owners and local officials along the alternate route. Public input is an important part of this siting process, and ensures that Duke Energy Ohio and the OPSB have feedback from those that may be potentially impacted by the proposed pipeline project."
The Central Corridor Pipeline project will help strengthen our natural gas system and position Duke Energy Ohio to continue our long history of providing safe and reliable natural gas service to our Ohio communities.
Next Steps
Duke Energy Ohio is proposing that the OPSB reschedule the adjudicatory hearing in Columbus for later this spring or summer. This hearing will allow parties in the case to provide sworn testimony and cross-examine witnesses. The OPSB will issue its decision on the pipeline sometime after the hearing is complete.
About Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Sally Thelen
Office: 513.287.2432
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/13/2018Duke Energy to announce first quarter 2018 financial results on May 10
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., April 10, 2018 /PRNewswire/ -- Duke Energy will announce the release of its first quarter 2018 financial results at 7 a.m. ET on Thursday, May 10, in a news release to be posted on the company's website at www.duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the first-quarter 2018 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (www.duke-energy.com/investors) of Duke Energy's website or by dialing 888-601-3869 in the United States or 719-325-4760 outside the United States. The confirmation code is 3587017. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 20, 2018, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 3587017. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
4/10/2018Piedmont Natural Gas reminds homeowners, commercial excavators: Forgetting to 'Call Before You Dig' is unsafe - and can cost you, too
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., April 3, 2018 /PRNewswire/ -- With construction activity and outdoor home improvement projects picking up, Piedmont Natural Gas reminds commercial excavators and homeowners alike to call 811 to have pipes and other buried utilities located before they start digging.
Digging accidents by third parties, including excavation contractors and homeowners, are the leading cause of damage to Piedmont's underground natural gas distribution system. Most could be avoided with a free call to 811, the national service that makes it easy to schedule a crew to locate and mark all buried utilities.
"Every six minutes an underground utility line is damaged, creating the potential for serious injury and service disruptions, just because someone failed to call 811," said Victor Gaglio, senior vice president in charge of utility operations for Piedmont Natural Gas. "While safety should be everyone's No. 1 priority, contractors and homeowners should also be aware that they can face large fines and repair costs if they don't call."
Gaglio recommends calling 811 at least 72 hours before you plan to dig, and he suggests that you call to have your underground utilities marked even if you aren't planning to dig very deep. Soil erosion or the growth of a tree's root system can bring buried utilities closer to the surface, so it's smart to call before starting any project that involves digging.
Underground lines installed by homeowners – including natural gas lines for grills or decorative lighting, or water and sewer laterals – are not included in the free 811 service and should be marked by a private location service.
Piedmont Natural Gas, along with utilities around the country and industry partners like NC811 and the Common Ground Alliance, recognize April as National Safe Digging Month to remind everyone of the importance of calling 811 before you dig.
For more information on safe digging, please visit www.piedmontng.com/call811.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
4/3/2018Duke Energy Florida nears completion of state-of-the-art natural gas plant
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., April 3, 2018 /PRNewswire/ -- (Editor's note: The change to residential customers' base rate has been updated from a previously posted version of this news release.)
Duke Energy Florida's state-of-the-art natural gas plant in Citrus County is on track to deliver cleaner, more reliable energy for Floridians.
The 1,640-megawatt combined-cycle, two-unit plant will use clean-burning natural gas and highly efficient technology to provide reliable and cleaner energy to 1.8 million Florida customers in 35 counties.
"Our customers expect and deserve cleaner energy, and building highly efficient natural gas infrastructure is critical to delivering on our commitment to a low-carbon energy future," said Harry Sideris, Duke Energy Florida president. "Natural gas is also an important part of our modernization strategy to continue delivering energy that is cleaner while meeting the growing energy needs of Floridians. More than ever, we are determined to make smarter energy investments that will benefit our customers and build the cleaner energy future we all want."
Since 2005, Duke Energy Florida has decreased its emissions of carbon dioxide, sulfur dioxide and nitrogen oxides significantly – sulfur dioxide by 91 percent, nitrogen oxides by 75 percent and carbon dioxide by 21 percent. The new plant will help further reduce carbon emissions.
Over the next decade, Duke Energy Florida also will make targeted investments in new solar power plants and battery storage technology to help meet our customer needs for cleaner, more reliable energy.
The new Citrus plant's unit 1 (820 megawatts) is expected to start serving customers in September 2018, and the plant's unit 2 (also 820 megawatts) is expected to start serving customers in November 2018.
Once the new plant is in operation, the company will retire its Crystal River coal-fired units 1 and 2, which were built in 1966 and 1969, respectively. These units make up half of the company's coal-fired power plants in Florida.
Construction and related activities are expected to have an area economic benefit of more than $600 million during construction and $13 million annually when operating.
Currently, more than 2,800 workers are involved in the construction of one of the nation's most advanced and efficient natural gas power plants. Between 50 and 75 workers will operate and maintain the plant once construction is complete.
Florida Public Service Commission filing
Duke Energy Florida filed a request today with the Florida Public Service Commission to recover investment costs associated with the Citrus plant.
For unit 1, residential customers' base rate would increase by $3.59, starting with the October billing period. Commercial and industrial customers would see a 2.5 to 3.5 percent increase.
For unit 2, residential customers' base rate would increase by $2.25, starting with the December billing period. Commercial and industrial customers would see a 1.5 to 2.1 percent increase.
If the proposed changes are approved, Duke Energy Florida's residential rates will remain below the national average for electric utilities.
Building a Smarter Energy FutureSM
Duke Energy is determined to get better and provide more reliable, secure and increasingly clean energy to all of its customers. To meet the needs of its customers, no matter where they live, the company is planning to make targeted investments over the next 10 years that will build a stronger, smarter and more resilient electric grid.
Whether Duke Energy is preparing for powerful storms or the growing energy demands of the state, customers expect and deserve perfect power – power that stays on – and, if an outage occurs, power that comes back faster than ever before.
By hardening the electric infrastructure, investing in targeted undergrounding, installing smart meters that provide customers with the information they need and building an intelligent energy grid that instantly reroutes power around most outages, Duke Energy will build a smarter energy future for all of Florida.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area. With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/3/20183/29/2018 - Duke Energy using North Carolina-based renewable natural gas in first-of-its-kind project
Duke Energy using North Carolina-based renewable natural gas in first-of-its-kind project
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 29, 2018 /PRNewswire/ -- A Duke Energy power plant is using renewable natural gas from North Carolina-based hog farms to produce electricity – the first application of the technology from in-state farms.
"This is a major breakthrough for renewable energy in North Carolina," said David Fountain, Duke Energy's North Carolina president. "This project allows for the capture of emissions from hog operations and converts the renewable natural gas to electricity for customers. We look forward to continuing our work on future projects."
Sometimes called directed biogas, the Optima KV project in Duplin County captures methane gas from the hog waste of five local farms. Using more than 42,000 feet of in-ground piping, the methane is moved to a central location where the gas is cleaned and converted to pipeline-quality natural gas.
The project injects the renewable natural gas into the Piedmont Natural Gas system which transports it to Duke Energy's Smith Energy Complex in Richmond County where it is used to produce electricity. Optima KV completed its interconnection to Piedmont Natural Gas last week.
"Biogas is such a rich resource for the state, especially for North Carolina's agriculture industry," said Gus Simmons of Cavanaugh & Associates, a partner of OptimaBio. "Harvesting unused organics such as swine manure from farms can create a new business opportunity for farmers, provide an in-state source of energy fuel and improve the sustainability of the agriculture and energy sectors. It's a win-win."
Announced in 2016, the project is expected to yield about 11,000 megawatt-hours of electricity – enough to power about 1,000 homes.
Historically, renewable natural gas has been used by smaller, on-site generators that are connected to the overall energy grid. Using Duke Energy's larger, more efficient plants allows more renewable energy to be created with the same amount of renewable natural gas.
"Optima KV is just the first of more projects where directed biogas will be used at Duke Energy power plants to create efficient renewable energy. Getting projects to a meaningful scale is important as we advance this innovative technology," added Fountain.
The project will help Duke Energy satisfy state swine waste-to-energy mandates under the Renewable Energy and Energy Efficiency Portfolio Standard law in North Carolina. Under this law, Duke Energy must generate 0.20 percent of its retail sales from swine waste by 2023.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
OptimaBio
Headquartered in Raleigh, N.C., OptimaBio is a swine waste-to-energy project developer and the leader in RNG development for North Carolina. It's a partnership bringing together experts in bioenergy, agriculture, project finance and environmental stewardship to invest in rural communities for the greater good. pig.energy
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Randy.wheeless@duke-energy.com
Twitter - @DE_RandyW
Contact: Mark Maloney, OptimaBio
Phone: 910.632.0752
mark@pig.energy
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SOURCE Duke Energy
Article Date
3/29/20183/22/2018 - Duke Energy's new Climate Report details the company's ability to adapt to a low-carbon future
Duke Energy's new Climate Report details the company's ability to adapt to a low-carbon future
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 22, 2018 /PRNewswire/ -- Duke Energy today outlined steps it is taking to provide safe, reliable, affordable and increasingly clean energy to its customers while embracing the transformation underway in the utility industry.
The report details the company's strategy and ongoing efforts to mitigate risks from climate change, reduce emissions, navigate policy uncertainty and plan future investments to deliver value for customers and investors.
"Duke Energy is building a smarter, cleaner energy future for our customers and communities by investing in new technologies to modernize and diversify our system," said Lynn Good, Duke Energy's chairman, president and CEO. "We are pleased to share this report with shareholders and others who are interested in learning more about our commitment to continue lowering carbon emissions."
Report highlights
The report also includes a "2-degree scenario" analysis of the potential long-term impacts on the company's generation fleet associated with the possibility of reducing CO2 emissions consistent with limiting global warming to no more than 2 degrees Celsius over pre-industrial levels. The analysis is based on a number of assumptions and reflects just one possible pathway the company could take to achieve carbon reductions. The company's current carbon goal to reduce CO2 emissions 40 percent by 2030 is consistent with a pathway to achieve a science-based 2-degree target.
To read Duke Energy's 2017 Climate Report to Shareholders, visit duke-energy.com/our-company/sustainability.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/22/2018Piedmont Natural Gas seeks approval to reduce customer billing rates in North Carolina
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 19, 2018 /PRNewswire/ -- On Friday, March 16, 2018, Piedmont Natural Gas filed a request with the North Carolina Utilities Commission for a decrease in customer billing rates that would reduce the average North Carolina residential customer's monthly bill by about 4 percent, or $2.51.
Pending the Commission's approval, the rate decrease would take effect April 1.
Piedmont is requesting this rate decrease in accordance with a rate mechanism approved by the Commission. Piedmont files a request to adjust its residential and commercial billing rates twice each year, on April 1 and November 1. This semiannual rate adjustment protects our customers and allows Piedmont to appropriately recover costs to operate its system reliably and safely.
If approved as requested, billing rates would decrease as follows by customer type:
This semiannual rate adjustment is separate from occasional rate adjustments to reflect changes in the commodity price of the natural gas that Piedmont purchases for its customers. Piedmont's most recent change to its cost of gas was a decrease effective February 2018. By law, Piedmont is not allowed to mark up the cost of natural gas and must pass through the actual cost on a dollar-for-dollar basis.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Piedmont Natural Gas
Article Date
3/19/2018Duke Energy funding N.C. wood stove changeout program to improve air quality
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 15, 2018 /PRNewswire/ -- Duke Energy is committing $500,000 to help fund an American Lung Association program targeting high-emitting wood stoves in North Carolina – replacing them with cleaner, more efficient models.
"Over the past decade, Duke Energy has steadily improved air emissions from its power generation fleet, and we continue to focus on improving air quality in other ways in North Carolina," said David Fountain, Duke Energy's North Carolina president. "Replacing older, less efficient wood stoves with cleaner models is yet another way we can all help improve overall air quality and reduce our environmental impact."
The program covers residents of Cherokee, Graham, Haywood, Jackson, Mecklenburg and Swain counties and the Eastern Band of Cherokee Indians. Since 2010, the American Lung Association has successfully implemented a number of wood stove changeout programs across the country.
In addition to lowering particle pollution emissions, the program also supports local retail stove businesses that are working with the American Lung Association. Customers can contact participating retailers.
According to the U.S. Environmental Protection Agency (EPA), wood smoke contains several harmful air pollutants and is made up of a mixture of gases and fine particles. The more efficiently you burn wood, the less smoke is created.
The U.S. Department of Energy estimates that 11.6 million households in the United States burn wood as either a primary or supplemental source of heat. An EPA-certified wood stove uses up to one-third less firewood than an older, less efficient stove.
Homeowners who live in the project areas and own a non-EPA certified wood stove or qualified fireplace can apply for a voucher. Vouchers are available for:
Applications for the vouchers are available online.
In recent years, Duke Energy has focused on lowering air emission. Since 2005, the company's carbon dioxide (CO2) emissions have decreased by 30 percent, sulfur dioxide (SO2) emissions have decreased by 94 percent and nitrogen oxides (NOX) emissions have decreased by 70 percent. This is primarily due to the addition of pollution control equipment, decreased coal generation, increased natural gas generation and replacement of higher-emitting plants.
Funding for the changeout program was part of a 2015 Duke Energy settlement with the EPA and environmental groups.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless, Duke Energy
Office: 704.382.8379 | 24-Hour: 800.559.3853
randy.wheeless@duke-energy.com
Twitter - @DE_RandyW
Britney Reddick, American Lung Association
britney.reddick@lung.org
470.233.7030
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SOURCE Duke Energy
Article Date
3/15/2018Duke Energy announces closing of common stock offering with a forward component
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 9, 2018 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke Energy") announced today the closing of its underwritten public offering of 21,275,000 shares of its common stock in connection with the forward sale agreements described below, which included the underwriters' full exercise of their over-allotment option to purchase up to an additional 2,775,000 shares of Duke Energy's common stock. Credit Suisse, J.P. Morgan, Barclays, Goldman Sachs & Co. LLC, BofA Merrill Lynch, Citigroup, Morgan Stanley and Wells Fargo Securities acted as joint book-running managers of the offering.
The closing will result in approximately $1.58 billion of net proceeds, before expenses (assuming each forward sale agreement is physically settled based on the initial forward sale price per share of $74.0720, as described more fully below).
In connection with the offering, Duke Energy entered into forward sale agreements with affiliates of each of Credit Suisse and J.P. Morgan ("forward counterparties") under which Duke Energy agreed to issue and sell to the forward counterparties (subject to Duke Energy's right to cash settle or net share settle the forward sale agreements) 21,275,000 shares of its common stock at the initial forward sale price of $74.0720.
Settlement of the forward sale agreements is expected to occur on or prior to Dec. 31, 2018. Upon any physical settlement of each forward sale agreement, Duke Energy will issue and deliver to the relevant forward counterparty shares of Duke Energy's common stock in exchange for cash proceeds per share, based on the initial forward sale price of $74.0720. The initial forward sale price will be subject to certain adjustments as provided in the relevant forward sale agreement. Duke Energy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreements.
In connection with the forward sale agreements, the forward counterparties borrowed from third-party lenders and sold to the underwriters 21,275,000 shares of Duke Energy's common stock at the close of the offering.
The net proceeds from the offering are expected to be used for general corporate purposes.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.6 million customers located in six states in the Southeast and Midwest. Duke Energy's Gas Utilities and Infrastructure business unit distributes natural gas to over 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is traded on the New York Stock Exchange under the symbol DUK.
Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations, and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of Duke Energy or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of Duke Energy service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and natural gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in Duke Energy's natural gas business; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy's or its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to us; the performance of projects undertaken by Duke Energy's nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of new U.S. tax legislation to Duke Energy's financial condition, results of operations or cash flows and credit ratings; the impacts from potential impairments of goodwill or equity method investment carrying values; the ability to successfully complete future merger, acquisition or divestiture plans; and the ability to implement Duke Energy's business strategy.
Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this press release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-announces-closing-of-common-stock-offering-with-a-forward-component-300611689.html
SOURCE Duke Energy
Article Date
3/9/2018Piedmont Natural Gas reminds its customers and communities to be vigilant about avoiding utility scams
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 8, 2018 /PRNewswire/ -- With this week being the 20th anniversary of National Consumer Protection Week, Piedmont Natural Gas is again taking the opportunity to educate its customers and communities on how to avoid being victims of utility scammers.
"Given the many ways people can fall victims to scams, this is a message that simply can't be shared too often," said Jared Lawrence, vice president of meter services and Piedmont Natural Gas customer operations, and executive chairman of Utilities United Against Scams (UUAS). "Scammers are becoming more sophisticated with each passing year, so consumers must continue learning new ways to protect themselves."
UUAS has made available a Consumer's Guide to Imposter Utility Scams, which provides descriptions of the many scams that target utility customers and tools they can use to protect themselves. This guide can be found on the coalition's new website, utilitiesunited.org.
Common scam tactics
How to protect yourself
For more information on how to spot a utility scam and protect personal information, visit utilitiesunited.org.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
View original content with multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-reminds-its-customers-and-communities-to-be-vigilant-about-avoiding-utility-scams-300610856.html
SOURCE Piedmont Natural Gas
Article Date
3/8/2018Duke Energy announces pricing of common stock offering with a forward component
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 6, 2018 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke Energy") announced today the pricing of a public offering of 18.5 million shares of its common stock at a price per share of $75.00 in connection with the forward sale agreements described below. Credit Suisse, J.P. Morgan, Barclays, Goldman Sachs & Co. LLC, BofA Merrill Lynch, Citigroup, Morgan Stanley and Wells Fargo Securities are acting as joint book-running managers of the offering. The underwriters may offer shares of Duke Energy's common stock in transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at either market prices or at negotiated prices.
In connection with the offering, Duke Energy entered into forward sale agreements with affiliates of each of Credit Suisse and J.P. Morgan ("forward counterparties") under which Duke Energy agreed to issue and sell to the forward counterparties (subject to Duke Energy's right to cash settle or net share settle the forward sale agreements) 18.5 million shares of its common stock. The underwriters of the offering have been granted a 30-day option to purchase up to an additional 2.775 million shares of Duke Energy's common stock upon the same terms, solely to cover any over-allotments. The offering is expected to close on March 9, 2018, subject to customary closing conditions. If the underwriters exercise their over-allotment option, Duke Energy expects to enter into additional forward sale agreements with the forward counterparties with respect to the additional shares.
Settlement of the forward sale agreements is expected to occur on or prior to Dec. 31, 2018. Duke Energy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreements.
The expected net proceeds from the offering are to be used for general corporate purposes.
The offering is being made pursuant to Duke Energy's effective shelf registration statement filed with the Securities and Exchange Commission (SEC). The preliminary prospectus supplement and the accompanying base prospectus related to the offering will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from the joint-book running managers for the offering as follows:
|
Credit Suisse Securities (USA) LLC Attention: Credit Suisse Prospectus Department One Madison Avenue New York, NY 10010 Telephone: (800) 221-1037 |
J.P. Morgan Securities LLC c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (866) 803-9204 |
|
Barclays Capital Inc. c/o Broadridge Financial Solutions 1155 Long Island Avenue Edgewood, NY 11717 Telephone: (888) 603-5847 |
Goldman Sachs & Co. LLC Attention: Prospectus Department 200 West Street New York, NY 10282 Telephone: (866) 471-2526 |
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.6 million customers located in six states in the Southeast and Midwest. Duke Energy's Gas Utilities and Infrastructure business unit distributes natural gas to over 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is traded on the New York Stock Exchange under the symbol DUK.
Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations, and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of Duke Energy or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of Duke Energy service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and natural gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in Duke Energy's natural gas business; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy's or its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to us; the performance of projects undertaken by Duke Energy's nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of new U.S. tax legislation to Duke Energy's financial condition, results of operations or cash flows and credit ratings; the impacts from potential impairments of goodwill or equity method investment carrying values; the ability to successfully complete future merger, acquisition or divestiture plans; and the ability to implement Duke Energy's business strategy.
Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this press release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-announces-pricing-of-common-stock-offering-with-a-forward-component-300609540.html
SOURCE Duke Energy
Article Date
3/7/2018Duke Energy announces public offering of common stock with a forward component
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., March 6, 2018 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke Energy") announced today that it has commenced a registered public offering of 18.5 million shares of its common stock in connection with forward sale agreements (as discussed below). Credit Suisse, J.P. Morgan, Barclays and Goldman Sachs & Co. LLC are acting as joint book-running managers of this offering. The underwriters may offer shares of Duke Energy's common stock in transactions on the New York Stock Exchange, in the over-the-counter market or through negotiated transactions at either market prices or at negotiated prices.
In connection with the offering, Duke Energy expects to enter into forward sale agreements with affiliates of each of Credit Suisse and J.P. Morgan ("forward counterparties") under which Duke Energy will agree to issue and sell to the forward counterparties (subject to Duke Energy's right to cash settle or net share settle the forward sale agreements) 18.5 million shares of its common stock. In addition, Duke Energy expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 2.775 million shares of Duke Energy's common stock upon the same terms, solely to cover any over-allotments. If the underwriters exercise their over-allotment option, Duke Energy expects to enter into additional forward sale agreements with the forward counterparties with respect to the additional shares.
Settlement of the forward sale agreements is expected to occur on or prior to Dec. 31, 2018. Duke Energy may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreements.
The expected net proceeds from the offering are to be used for general corporate purposes.
The offering is being made pursuant to Duke Energy's effective shelf registration statement filed with the Securities and Exchange Commission (SEC). The preliminary prospectus supplement and the accompanying base prospectus related to the offering will be available on the SEC's website at www.sec.gov. Copies of the preliminary prospectus supplement and the accompanying base prospectus relating to the offering may be obtained from the joint-book running managers for the offering as follows:
|
Credit Suisse Securities (USA) LLC One Madison Avenue New York, NY 10010 |
J.P. Morgan Securities LLC 1155 Long Island Avenue Edgewood, NY 11717 |
|
Barclays Capital Inc. 1155 Long Island Avenue Edgewood, NY 11717 |
Goldman Sachs & Co. LLC Attention: Prospectus Department New York, NY 10282 |
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933, as amended.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.6 million customers located in six states in the Southeast and Midwest. Duke Energy's Gas Utilities and Infrastructure business unit distributes natural gas to over 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is traded on the New York Stock Exchange under the symbol DUK.
Forward-Looking Information
This press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements, including those related to climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations, and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through rate case proceedings and the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of Duke Energy or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from sustained downturns of the economy and the economic health of Duke Energy service territories or variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and natural gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in Duke Energy's natural gas business; operational interruptions to Duke Energy's natural gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third-party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations, compliance with debt covenants and conditions and general market and economic conditions; declines in the market prices of equity and fixed-income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy's or its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner, or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of Duke Energy's subsidiaries to pay dividends or distributions to us; the performance of projects undertaken by Duke Energy's nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of new U.S. tax legislation to Duke Energy's financial condition, results of operations or cash flows and credit ratings; the impacts from potential impairments of goodwill or equity method investment carrying values; the ability to successfully complete future merger, acquisition or divestiture plans; and the ability to implement Duke Energy's business strategy.
Additional risks and uncertainties are identified and discussed in Duke Energy's reports filed with the SEC and available at the SEC's website. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements included or incorporated by reference in this press release might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made and Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-announces-public-offering-of-common-stock-with-a-forward-component-300609369.html
SOURCE Duke Energy
Article Date
3/6/2018Duke Energy Progress files new rates for North Carolina customers
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
RALEIGH, N.C., March 2, 2018 /PRNewswire/ -- Duke Energy Progress today filed new rates for North Carolina customers based on the North Carolina Utilities Commission's (NCUC) order issued Feb. 23. Even with the adjustment, customer rates will remain below the national average.
The NCUC approved the company's partial settlement with the Public Staff, which included costs related to highly efficient natural gas units and four new solar projects.
Also approved by the NCUC are the company's past investments related to environmental compliance with state and federal regulations to permanently close ash basins at eight sites in the Carolinas.
"This transparent and thorough process overseen by the North Carolina Utilities Commission, which includes input from other stakeholders, produced a result that balances the needs of our customers and our company," said David Fountain, Duke Energy's North Carolina president. "This decision helps keep energy costs competitive while giving customers the full benefits of cleaner and more reliable power."
As directed by the NCUC order, new rates will go into effect after final approval from the NCUC.
Rate impact by customer group
The following percentages illustrates the net rate increases by customer group:
Average net rate increase percentage – Years 1-4
Average net rate increase percentage – After Year 4
(The numbers above show the average impact of the compliance rates for each customer group. The specific increase or decrease for individual customers will vary depending on the rate they pay and other factors.)
Electric rates will increase by an average of 4.7 percent in the first four years to account for a return of state income taxes, and an additional 1.3 percent average increase thereafter. The annualized bill for a typical residential customer using 1,000 kilowatt-hours (kWh) of electricity per month would increase to $113.49 from the current $108.27. That change includes an increase in the basic customer charge from $11.13 to $14.00 per month.
The final rate order can be viewed at the NCUC website (NCUC Docket No. E-2, Sub 1142).
Additionally, Duke Energy Progress will address customer benefits from the federal tax reform law in a separate tax reform docket with the NCUC.
Helping customers manage their energy costs
Duke Energy shareholders will contribute an additional $2.5 million to help low-income customers in North Carolina save energy and money through home weatherization and energy efficiency improvements. The contribution will expand the already successful "Helping Home Fund," which has helped more than 3,700 North Carolina families since the program launched in 2015.
"We're committed to helping customers minimize the effects of increased electricity costs through energy efficiency programs and assistance for low-income customers," said Fountain.
Customers can learn more about saving energy and money on their bill at duke-energy.com/savings.
Duke Energy Carolinas, which serves 2 million customers in central and western North Carolina, has a separate rate proceeding pending before the NCUC, with an evidentiary hearing scheduled to begin March 5.
Duke Energy Progress
Duke Energy Progress owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,900 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-progress-files-new-rates-for-north-carolina-customers-300607642.html
SOURCE Duke Energy
Article Date
3/2/20182/27/2018 - Piedmont Natural Gas demonstrates commitment to compressed natural gas technology with new refueling station
Piedmont Natural Gas demonstrates commitment to compressed natural gas technology with new refueling station
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
FAYETTEVILLE, N.C., Feb. 27, 2018 /PRNewswire/ -- Piedmont Natural Gas today announced the opening of a new compressed natural gas (CNG) refueling station in Fayetteville, a sign of growing demand as more companies choose clean, affordable natural gas to fuel their fleets of cars and trucks. This is the second new CNG refueling location the company has announced in a year's time.
Replacing the company's existing Fayetteville station, the new facility is located at 4740 Corporation Drive, strategically positioned near I-95 to provide easy access for trucks and other long-haul carriers. The station also is adjacent to Piedmont's LEED-eligible operations and customer care center, which opened in 2017.
"Piedmont is committed to sustainable business practices, and we are doing our part to help make CNG more widely available as an alternative fuel source," said Karl Newlin, senior vice president and chief commercial officer for natural gas operations for Piedmont's parent company, Duke Energy. "By replacing our existing station in Fayetteville, we're now able to better serve our customers and help even more companies lower their carbon footprint by making this fuel source available."
To date, Piedmont has converted approximately 40 percent of its own fleet to natural gas vehicles and expects that percentage to continue to grow. In 2017 alone, Piedmont's CNG business grew by almost 25 percent, and together, Piedmont and its CNG customers displaced more than 6 million gallons of gasoline and diesel.
The station, designed with fast-fill technology, is part of the company's network of publicly accessible stations, with seven stations in North Carolina, three locations in South Carolina, and one location in Tennessee. To view a map that shows all 11 of Piedmont's public CNG refueling facilities and the current price of CNG, visit piedmontng.com/vehiclesandfueling.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Stacey Perrow
Piedmont Natural Gas
704.731.4102 │ 24-hour: 877.348.3612
stacey.perrow@duke-energy.com
View original content with multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-demonstrates-commitment-to-compressed-natural-gas-technology-with-new-refueling-station-300605026.html
SOURCE Piedmont Natural Gas
Article Date
2/27/2018Duke Energy and 2 joint owners announce sale of the retired Walter C. Beckjord coal-fired power plant in New Richmond, Ohio
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CINCINNATI, Feb. 26, 2018 /PRNewswire/ -- Today Duke Energy, along with joint owners American Electric Power (AEP) and Dayton Power & Light (DP&L), finalized the sales transaction of their retired Walter C. Beckjord coal-fired power plant in Clermont County, Ohio, to Commercial Liability Partners (CLP). CLP will repurpose much of the property on site for future development.
With this announcement, CLP will address environmental needs, including groundwater monitoring, abatement, decommissioning and demolition of the facility. In the coming weeks, CLP will work under the direction of the Ohio Environmental Protection Agency (OEPA) to determine final environmental plans for the site, which includes the station and surrounding coal ash ponds.
"Beckjord Station powered our region and played a vital role in the county's economy for countless families and businesses," said Jim Henning, president, Duke Energy Ohio and Kentucky. "We've pursued an outcome that will advance the county's priorities with regard to safeguarding the environment and revitalizing the property and we're pleased that this historic property is poised for a second act as an integral part of our community."
"Today's announcement is an important milestone in the ongoing process to decommission the retired units at the Beckjord site and the ultimate removal of the power plant's footprint to ground level," said Ron Froh, CEO and president of CLP. "This is an important step in bringing new life and economic development potential to the site and the region. We look forward to working under the direction of the OEPA, and in partnership with local officials, to determine final environmental plans for the site."
In order to help facilitate future economic development opportunities for Clermont County, Duke Energy will contribute $750,000 over a three-year period to Connect Clermont, a nonprofit community organization designed to implement countywide priorities. Connect Clermont will serve as the fiscal agent for the funds.
"As evident from our long-standing and valued partnership, Duke Energy believes in Clermont County," said Henning. "We are confident that, with this support and the leadership of Connect Clermont, the county will achieve many of the goals outlined in their Agenda for the Future."
Financial terms of the transaction are not being disclosed.
Duke Energy will continue to own and operate the transmission substation and switchyard located near the plant as the company continues to invest in the modernization of its electric grid. Duke Energy Renewables will own and operate the two battery storage units on site.
History of the station
The construction of the W.C. Beckjord Station was announced on Nov. 10, 1948, upstream of Cincinnati on the Ohio River. The site was dedicated on June 12, 1952, with the first 100-megawatt (MW) unit in commercial operation. Five additional units were added by 1969 for a total site capacity of 1,202 MW. In the early 1970s, four oil-fired combustion turbines were added, with nameplate capacities of 61 MW each.
Duke Energy Ohio owned 100 percent of the first five generating units at the station. Duke Energy Ohio jointly owned Unit 6 (37.5 percent ownership), along with AEP (12.5 percent ownership) and DP&L (50 percent ownership).
After more than 60 years of safely and reliably serving Duke Energy Ohio's customers, the plant was retired in 2014, as significant equipment upgrades would have been needed to comply with evolving environmental regulations. Beckjord Station was a six-unit pulverized coal-fired electric generating station. The last remaining operational coal-fired units, Units 5 and 6, were retired in October 2014. The four combustion turbines were retired in December 2014.
About Commercial Liability Partners (CLP)
Commercial Liability Partners LLC leads the nation in partnering with clients to divest nonproducing commercial real estate. With nearly seven decades of combined experience in the business, its approach is the industry's most comprehensive and effective solution for addressing real estate divestiture: Valuation, Collateralization and Execution are the primary dimensions of its program.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
Office: 513.316.2400 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/26/2018Carolinas' waterways to benefit from more than $900,000 in grants from Duke Energy
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Feb. 23, 2018 /PRNewswire/ -- Thirteen organizations spanning 42 counties in North Carolina and South Carolina will receive more than $900,000 in new grants from Duke Energy's Water Resources Fund to support environmental and wildlife programs.
The fund is a $10 million multiyear commitment from Duke Energy to help local organizations continue to protect and improve the environment, including waterways used year-round across the Carolinas and neighboring states.
"Water is a shared natural resource that connects us all," said David Fountain, Duke Energy's North Carolina president. "To keep our waterways healthy, it takes communities coming together with a shared commitment. We're proud to support these 13 organizations that are implementing innovative projects to protect our water resources."
"The museum's goal is to spark curiosity and foster a deep appreciation for the sciences and the natural beauty of western North Carolina," said Anna Priest, executive director of the Asheville Museum of Science (AMOS). "AMOS' French Broad River exhibit will offer a one-of-a-kind interactive learning experience to the public. We thank Duke Energy for its support and are eager to launch this project, allowing visitors to learn about the importance of the French Broad River in the western North Carolina ecosystem."
"Our communities and regional economies are powered by the rivers and waterways that these projects will support," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "We are committed to work alongside these 13 organizations to ensure future generations enjoy the benefits of our waterways."
"A core goal of Kalmia Gardens is to protect and preserve habitat," said Daniel Hill, assistant director of Kalmia Gardens of Coker College. "With this grant, the Gardens will not only restore a native ecological community, but also help protect Black Creek from urban runoff."
Duke Energy has awarded more than $7 million in grants to 86 projects in the Carolinas and Virginia since establishing the fund in 2015. Recipients are selected by an independent body that includes five environmental experts and two Duke Energy employees. View an interactive map showcasing all 86 grantees at duke-energy.com/H2O.
Additional details on the grants follow:
North Carolina
South Carolina
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
Office: 980.373.6408 | 24-Hour: 800.559.3853
Twitter - @CandiceKnez
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SOURCE Duke Energy
Article Date
2/23/2018Duke Energy to pass savings from new federal tax law to North Carolina customers
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Feb. 1, 2018 /PRNewswire/ -- Duke Energy today outlined its proposal to pass along savings from the new federal tax law to its North Carolina customers in ways that will lower bills in the near term and help offset increases in the future.
Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) offered the proposal in a filing with the North Carolina Utilities Commission (NCUC) today. Duke Energy has maintained customers' rates significantly below the national average for many decades while providing safe, reliable and increasingly clean energy for North Carolinians.
"This is a unique opportunity that allows us to reduce customer bills in the short term while also helping to offset future rate increases," said David Fountain, Duke Energy's North Carolina president. "With a balanced approach, our customers can benefit from a reduction in the corporate income tax rate, while we continue to make smart investments on behalf of our customers."
The company recommended several options that the NCUC could select to provide customers with near-term benefits, while minimizing volatity in customer bills.
DEC proposes to incorporate these benefits into its current base rate case proceeding.
DEP recommends incorporating these benefits either through its next base rate case proceeding, or through an alternate cost recovery mechanism established during the current proceeding.
Given the NCUC needs to approve the timing and amount of any customer rate changes, it is premature to determine the exact impact on North Carolina customers' energy bills.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/1/2018Duke Energy renews contract with biomass energy producer in North Carolina
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 31, 2018 /PRNewswire/ -- Duke Energy has renewed a long-term power purchase agreement with a 50-megawatt biomass facility in North Carolina, continuing the company's pursuit to diversify its electricity mix with biomass and alternative energy.
Craven County Wood Energy (CCWE) in New Bern is a 24-hour-a-day baseload plant that supplies enough power annually to satisfy the energy needs of more than 30,000 homes for a year.
The facility uses mainly wood waste and poultry (turkey) waste to generate electricity. Throughout its 25 years of operation, the facility has been upgraded to use more poultry waste – going from 10 percent to 25 percent currently. It has plans to go as high as 30 percent.
"The increased usage of poultry waste will help Duke Energy better meet state mandates for renewable energy and makes the facility more valuable to the company and its customers," said Gary Freeman, general manager of Duke Energy's renewable energy compliance.
Duke Energy will buy 100 percent of the energy and associated renewable energy certificates (RECs) from the facility. A REC is a commodity equal to 1 megawatt-hour of renewable generation.
Under North Carolina's Renewable Energy and Energy Efficiency Portfolio Standard (REPS), Duke Energy must eventually meet 0.21 percent of its overall power sales with energy generated by swine and poultry waste. North Carolina is the only state with a renewable energy carveout for swine and poultry waste.
The poultry waste requirement is set to increase over the next two years, and the CCWE contract will provide Duke Energy with valuable RECs to meet the increased compliance requirements.
"We are pleased that we will continue to provide renewable, reliable energy that meets the needs of homes and businesses in our region – while also continuing to support not only our employees but 150 other families who supply us with goods and materials," said Robert Van Ells, CCWE's plant manager.
CCWE has about 50 employees and also supports jobs in logging, trucking, welding, parts supply industries and many other local merchants in the area. Its use of waste wood lessens the amount of materials going to local landfills. It is an important economic contributor to the region.
"Craven County is excited about our continued, long-term relationship with Craven County Wood Energy. From employment, both direct and indirect, to alternative energy production, CCWE plays a vital role in the economic development of our community," said Timothy Downs, director of economic development for Craven County.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Twitter - @DE_RandyW
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SOURCE Duke Energy
Article Date
1/31/2018Duke Energy delivered sunshiny days in North Carolina in 2017
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 30, 2018 /PRNewswire/ -- Duke Energy customers in North Carolina are benefiting from a major solar expansion in the state as large amounts of renewable energy are being added to the company's energy grid.
Duke Energy added about 500 megawatts of new solar energy capacity in 2017 – with an energy output roughly equal to what 90,000 homes would use in a year. Overall, Duke Energy has around 2,500 megawatts of solar capacity connected to its energy grid in the state, which is produced by itself and other companies statewide.
"For the past three years, Duke Energy's effort to deliver solar energy to our customers has led North Carolina to be the No. 2 solar state in the nation," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "Even better is we expect a lot more growth over the next few years."
Caldwell added a major part of that growth will be HB 589, or the Competitive Energy Solutions for North Carolina law – which was enacted in summer 2017. Under the law, Duke Energy will add roughly 3,000 megawatts of new solar capacity over the next few years. It will also offer $62 million in rebates to customers who want to install private solar systems and allow larger customers to secure renewable energy.
Duke Energy connected one of its largest solar facilities in 2017 – the 60-megawatt Monroe Solar facility in Union County. Its annual output is roughly equal to what 10,000 homes would use during a year.
Last week, the company proposed a number of solar programs for customers – from solar rebates to a shared solar program.
In the spring, the company will request bids for approximately 600 megawatts of new solar capacity that can be built by Duke Energy and other companies in North Carolina. The bidding process will ensure customers get the best price for new solar energy.
Overall, through its regulated utilities and Duke Energy Renewables, the company owns and operates more than 35 solar facilities in North Carolina totaling almost 550 megawatts of capacity.
In the Carolinas
As part of Duke Energy's plan to modernize its energy grid and transition to cleaner energy, the company has added 1,800 megawatts of solar capacity in North Carolina and South Carolina over the past three years. Two-thirds of Duke Energy's electric generation capacity additions since 2015 in the Carolinas have been solar power.
According to the Integrated Resource Plans of Duke Energy Carolinas and Duke Energy Progress, solar power and energy efficiency will make up one-third of all new generation capacity additions in the Carolinas over the next 15 years.
"We are focused on delivering affordable, reliable and cleaner energy to our customers," said Caldwell. "Our record for renewable energy over the past three years is an indication of what we will continue to do in the future."
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Twitter - @DE_RandyW
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SOURCE Duke Energy
Article Date
1/30/20181/25/2018 - Duke Energy proposes two additional renewable energy programs for North Carolina customers
Duke Energy proposes two additional renewable energy programs for North Carolina customers
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 25, 2018 /PRNewswire/ -- Duke Energy has filed two more renewable energy programs with the North Carolina Utilities Commission (NCUC) to expand renewable energy options for its 3.2 million customers in the state.
The N.C. Shared Solar and Green Source Advantage programs are part of a larger portfolio of customer offerings the company is proposing as part of the Competitive Energy Solutions for North Carolina law – sometimes referred to as HB 589.
Both programs enable customers to pursue off-site solar energy and will be driven by customer demand. They follow a $62 million solar rebate program announced earlier this week.
"Our customers want more renewable energy options and both these programs will provide alternatives to on-site solar power," said David Fountain, Duke Energy's North Carolina president. "We look forward to working with our large customers as well as environmental organizations, municipalities and solar developers to bring these offerings to areas where they are most desired."
North Carolina is second in the nation for overall installed solar capacity. Duke Energy has more than 35 solar facilities in the state.
Both programs must be approved by the NCUC before they can be offered to customers.
Shared Solar
The N.C. Shared Solar program allows multiple customers to adopt solar energy without having a facility located on their property. Customers will subscribe to the output of a nearby facility and receive a credit for it.
By law, costs for Duke Energy's shared solar program cannot be subsidized by non-participating customers. The proposed program includes working with communities and stakeholders to minimize costs to participating customers.
To gauge customer interest, the company proposes starting the program with approximately 1-megawatt (AC) facilities in the Duke Energy Carolinas and Duke Energy Progress territories.
The company will launch a request for proposal process after the NCUC approves the program. In the meantime, the company will reach out to solar developers to see what types of projects are best suited for the program and gathering input from local communities to help increase accessibility.
Green Source Advantage
The proposed Green Source Advantage program provides military installations, University of North Carolina institutions and large nonresidential customers the option to secure large amounts of solar or other renewable energy to satisfy their sustainability or other clean energy goals.
The program gives customers options on how they procure renewable energy. They may choose to purchase renewable energy at competitive prices through the existing competitive bidding process, or self-supply by partnering directly with a solar developer. The program also gives customers flexibility in how they procure their renewable energy and their ability to negotiate contract terms.
The law allows up to a total of 600 MW of reserved renewable energy capacity over the five-year life of the program. From that 600 MW, 100 MW of capacity will be reserved for major military installations, 250 MW of capacity will be reserved for the University of North Carolina system, and the remaining 250 MW will be available for large nonresidential customers.
These customers must have energy demands of at least 1 MW of peak demand at a single location, or an aggregate of 5 MW or more of peak demand across multiple locations.
The Green Source Advantage program builds on successes of the company's former Green Source Rider program, which helped three major companies secure solar power for North Carolina facilities in 2015 and 2016.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Twitter - @DE_RandyW
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SOURCE Duke Energy
Article Date
1/25/2018Duke Energy Florida customers will not see rate increase for Hurricane Irma and related $513-million in storm costs
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Jan. 24, 2018 /PRNewswire/ -- Duke Energy Florida today announced that customers will directly benefit from the new federal tax law and avoid a rate increase for power restoration costs associated with the company's response to last September's Hurricane Irma.
Instead of increasing customer rates, the company plans to apply federal tax reform savings toward those storm costs.
On Dec. 28, 2017, the company had filed for recovery of $513 million – $381 million for power restoration costs and $132 million to replenish the storm reserve fund. Residential customers would have seen an increase of $5.20 per 1,000 kWh of electricity on a typical monthly bill over a three-year recovery period – an average of $187.20. Commercial and industrial customers were expected to see an increase of approximately 2.5 to 6.6 percent, though bills would have varied depending on a number of factors.
Like many companies, Duke Energy has been working to analyze the benefits of tax reform.
"We are pleased that this solution will prevent a rate increase for our customers," said Harry Sideris, Duke Energy Florida state president. "Hurricane Irma was the worst storm to ever hit Duke Energy Florida and impacted many lives. Redirecting the tax reform savings against the storm costs ensures that our customers will reap the benefits of this new law."
The change is supported by the Office of Public Counsel and consumer advocate groups. The Florida Public Service Commission will review the costs to be recovered and the level of the tax benefit and approve the change by year-end.
Hurricane Irma was a historic hurricane that caused widespread, devastating damage across the Southeast region. Utilities united and battled back with an unprecedented response.
Duke Energy crews and contractors from the Midwest and the Carolinas traveled to Florida to assist with restoration, as did workers for utilities from across the country and from as far as Canada to get 1.3 million customers restored as quickly and safely as possible.
In Florida, more than 12,000 line and field workers replaced approximately 1,800 distribution poles, 140 transmission poles and 1,100 transformers. Duke Energy restored power to more than 75 percent of its customers in just three days and 99 percent within eight days.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ann Marie Varga
Office: 727.820.5048 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/24/2018Duke Energy Renewables protects eagles with IdentiFlight System
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 23, 2018 /PRNewswire/ -- Duke Energy Renewables today announced it has ordered 24 IdentiFlight® units to be installed at its Top of the World Windpower Project in Wyoming as part of its comprehensive avian protection program.
The system from IdentiFlight International blends artificial intelligence with high-precision optical technology to detect eagles and prevent them from colliding with rotating wind turbine blades. Duke Energy Renewables is the first wind operator to commercially deploy this technology.
"Duke Energy understands the importance of balancing the need for clean, renewable energy while protecting wildlife, including the iconic bald and golden eagles," said Tim Hayes, environmental director, Duke Energy Renewables. "Since Top of the World began operations, we have tested a variety of techniques and technologies to reduce impacts to eagles. The IdentiFlight system has shown great promise for effectively reducing eagle collisions."
The Top of the World site has been a part of the IdentiFlight innovation story from the beginning, with early versions installed and modified at the facility during development of the technology.
"Duke Energy Renewables has been an amazing partner throughout the testing and development of the IdentiFlight technology and has proven to be in the forefront of the industry in addressing this critical issue," said Tom Hiester, president of IdentiFlight International. "Avian collisions with turbine blades have been an impediment to growth in the wind industry. IdentiFlight was developed to address this problem and promote the successful coexistence of avian wildlife and wind energy."
Recently, an array of IdentiFlight units underwent third-party independent testing at Top of the World during elevated eagle activity. The testing focused on the system's ability to detect and classify golden eagles and other large raptors within a timeframe that supports the use of informed curtailment to minimize collision risk. The full report is expected to be published in a scientific journal early next year.
"The real-world testing conducted by The Peregrine Fund and the American Wind Wildlife Institute (AWWI) produced compelling results that validated IdentiFlight's accuracy and effectiveness," said Hayes. "It is a great addition to the many strategies we employ to protect wildlife and their habitats."
"AWWI is excited by the promise of innovative technologies to produce meaningful reductions in wind energy impacts to wildlife," said AWWI executive director Abby Arnold. "Through AWWI's collaboration with a variety of stakeholders, we will continue evaluating cutting-edge solutions for raptors and bats, and we see these technologies as having great potential to help wind power achieve full conservation value."
How IdentiFlight Works
Automatic detection and species determination occur within seconds for birds flying within a one kilometer hemisphere around an IdentiFlight tower. If an eagle's speed and flight path indicate risk of collision, an alert is generated to shut down that specific wind turbine. By providing highly targeted, informed and objective curtailment decisions, unnecessary and costly interruptions are avoided and conservation of protected species is achieved.
See photos and more about the technology and testing at: https://illumination.duke-energy.com/articles/wind-farm-tests-technology-to-protect-eagles
ABOUT DUKE ENERGY RENEWABLES
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar renewable generation throughout the continental U.S. The portfolio includes nonregulated renewable energy and energy storage assets. Duke Energy Renewables' renewable energy includes utility-scale wind and solar generation assets which total 2,900 MW across 14 states from 20 commercial wind and 63 solar projects. The power produced from renewable generation is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities and commercial and industrial customers. Learn more at https://www.duke-energy.com/renewable
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
ABOUT IDENTIFLIGHT
The IdentiFlight Aerial Detection System blends artificial intelligence with the high-precision optical technology to detect eagles. In an operating windfarm, IdentiFlight contributes to eagle conservation by helping protect them from collisions with rotating wind turbine blades. In wind project development, IdentiFlight helps in permitting sites by accurately quantifying eagle activity at prospective sites. Automatic detection and species determination occur within seconds for birds flying within a one kilometer hemisphere around an IdentiFlight tower. The IdentiFlight system has completed real-world testing and validation in pilot programs at U.S. wind farms with elevated eagle activity and is now being deployed in projects across the U.S. To learn more about IdentiFlight, please visit www.IdentiFlight.com.
Contact: Tammie McGee, Duke Energy
Media line: 800.559.3853
Contact: Shelley Vierra, Identiflight
720.545.0982, shelley.vierra@IdentiFlight.com
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SOURCE Duke Energy
Article Date
1/23/2018Duke Energy proposes $62 million solar rebate program in North Carolina
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 22, 2018 /PRNewswire/ -- Duke Energy today proposed a $62 million solar rebate program designed to help its North Carolina customers with the upfront cost of installing solar panels on their property.
This is the first of three customer programs Duke Energy is proposing as part of the implementation of 2017's Competitive Energy Solutions for North Carolina law – also known as House Bill 589.
"The Competitive Energy Solutions law for North Carolina will reduce the cost our customers pay for solar, while also supporting their interest in solar energy in ways that are most meaningful for them," said David Fountain, Duke Energy's North Carolina president. "For many customers, installing solar is a significant investment. Duke Energy's rebate program will help them by lowering their initial costs."
Currently, in North Carolina, Duke Energy has about 6,000 customers who have private solar systems – with a total capacity of just over 50 megawatts. The program expects to increase North Carolina's private solar market by 200 percent over the next five years, providing an economic boost for the state's solar installation business as well.
"The proposed solar rebates program is the result of two years of collaboration between the N.C. Sustainable Energy Association and Duke Energy," said Ivan Urlaub, NCSEA's executive director. "If approved, this program will enable more North Carolinians across our state to realize the cost-saving benefits of solar. We are glad to have been a voice for electric consumers in the design of this program. NCSEA looks forward to partnering with all energy providers and their customers to continue innovating solutions that open our growing clean energy market to everyone."
The program needs to be approved by the N.C. Utilities Commission.
Rebate Details
Under the program, residential customers will be eligible for a rebate of 60 cents per watt for solar energy systems 10 kilowatts (kW) or less. For example, a typical rooftop array of 8 kW would be eligible for a $4,800 rebate. Installed systems 10 kW or greater would be eligible for a maximum rebate of $6,000.
Nonresidential customers would be eligible for 50 cents per watt. Nonprofit customers (such as churches and schools) would be eligible for an enhanced rebate of 75 cents per watt for systems 100 kW or less. Installed systems 100 kW or greater would be eligible for a maximum rebate of $50,000 for non-residential customers, or $75,000 for nonprofit customers.
Customers will also have a solar leasing option. Instead of owning the system, customers can lease solar panels from another company. Much like leasing a car, a third-party leasing agency owns the system while the customer has a contract to use the output of the solar panels.
"We are structuring our program to give customers more flexibility on how to adopt solar resources," added Fountain. "Of course, customers have to determine if solar energy fits their needs."
In 2018, Duke Energy will roll out additional programs to help customers go solar if they wish:
North Carolina: No. 2 Solar State
These programs continue the company's efforts to implement the Competitive Solutions for North Carolina law, the state's landmark solar legislation.
Co-sponsored by state Representatives Dean Arp and John Szoka, the law was passed by the General Assembly and signed by Gov. Roy Cooper in summer 2017. Sometimes referred to as HB 589, the law calls for a major increase in solar power in the state, which is already second in the nation for overall solar power.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379 | 24-Hour: 800.559.3853
Twitter - @DE_RandyW
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SOURCE Duke Energy
Article Date
1/22/2018Duke Energy named one of Fortune's "World's Most Admired Companies"
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 19, 2018 /PRNewswire/ -- Duke Energy has been named to Fortune magazine's 2018 list of the World's Most Admired Companies. Duke Energy was ranked 5th among gas and electric utilities, up from 9th last year.
"We are pleased and humbled to receive this recognition on behalf of our talented team of more than 29,000 employees who work every day delivering a smarter and cleaner energy future for our customers," said Lynn Good, Duke Energy's chairman, president and CEO. "We plan to continue to improve in all areas of our business and deliver even greater value to our customers in the years ahead."
In determining the industry rankings, approximately 3,900 executives, directors and industry analysts are independently surveyed and companies are rated on nine attributes: innovation, people management, use of corporate assets, social responsibility, quality of management, financial soundness, long-term investment, quality of products/services and global competitiveness.
Recent company performance highlights
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800-559-3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-named-one-of-fortunes-worlds-most-admired-companies-300585227.html
SOURCE Duke Energy
Article Date
1/19/20181/17/2018 - As freezing temperatures continue, Piedmont Natural Gas announces $100,000 donation to Share the Warmth
As freezing temperatures continue, Piedmont Natural Gas announces $100,000 donation to Share the Warmth
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 17, 2018 /PRNewswire/ -- Piedmont Natural Gas today announced a $100,000 grant to its Share the Warmth program in an effort to help low-income households in North Carolina, South Carolina and Tennessee.
Piedmont's Share the Warmth program helps neighbors in need pay their energy bills, regardless of their home's energy source – whether it's natural gas, propane, oil or electricity.
The company also issued a plea to its customers to join its Share the Warmth Round Up program, which authorizes Piedmont to round up a customer's monthly bill to the nearest dollar, with the difference going to Share the Warmth.
During the course of a year, the customer would pay no more than $12 into the fund, and 100 percent of donations help residents in the community where the money is collected.
"We hope these extreme temperatures inspire our customers to join us in helping our most vulnerable neighbors," said Barbara Ashford, director of community relations for Piedmont Natural Gas. "It may seem like we're collecting small change, but it adds up to make a big difference for those in need."
Customers can enroll by going to piedmontng.com/SharetheWarmth, filling out the form on the back of their bill or calling Piedmont at 800.752.7504.
Since 2003, Piedmont Natural Gas, its customers, the community and the Piedmont Natural Gas Foundation have donated more than $3.1 million to the Share the Warmth program.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
704.731.4108 │ 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
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SOURCE Duke Energy
Article Date
1/17/20181/16/2018 - Duke Energy Ohio and its customers provide $310,000 to The Salvation Army for 2018 HeatShare program
Duke Energy Ohio and its customers provide $310,000 to The Salvation Army for 2018 HeatShare program
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CINCINNATI, Jan. 16, 2018 /PRNewswire/ -- The Salvation Army received $100,000 from Duke Energy Ohio in addition to $210,000 in customer contributions and matching funds for the 2018 HeatShare program. The program provides people in need with financial assistance to pay for utilities. In many cases, these individuals and families face disconnection of utilities and possible eviction as a result of their inability to stay current on their utility bills.
The HeatShare program is available to eligible Duke Energy customers in southwest Ohio and provides heating assistance from Jan. 16 to April 30, 2018, or until funds are all used. If funds are available after April 30, they may be used for cooling assistance until depleted. People in need of assistance may call The Salvation Army HeatShare line at 513.762.5636 to schedule an appointment for the program or to get more information.
"HeatShare has been a vital program in Ohio for over 30 years, helping families and individuals in need," explained Cindy Givens, program manager at Duke Energy. "We're delighted to partner with our customers and The Salvation Army to help ensure those in need won't be cold this winter, especially with the single-digit temperatures we experienced earlier this month."
HeatShare was established in 1986 to assist Ohio residents in need with winter heating bills and is funded by Duke Energy customers, employees and shareholders. In 2017, over 19,000 Duke Energy Ohio customers voluntarily added a HeatShare contribution to their monthly bill and contributed $110,000 to the fund. Duke Energy Ohio provided a $100,000 donation and then matched all customer and employee donations up to $100,000. In 2017, the HeatShare program provided utility assistance to 810 families across southwest Ohio. Additional information about the program can be found on the Duke Energy Ohio website.
Duke Energy customers in Northern Kentucky can receive WinterCare assistance and should contact their county's Neighborhood Center or the Northern Kentucky Community Action Commission at 859.581.6607.
About The Salvation Army
The Salvation Army, an evangelical part of the universal Christian church, has been supporting those in need in His name without discrimination since 1865. Nearly 33 million Americans receive assistance from The Salvation Army each year through the broadest array of social services that range from providing food for the hungry, relief for disaster victims, assistance for the disabled, outreach to the elderly and ill, clothing and shelter to the homeless and opportunities for underprivileged children. About 82 cents of every dollar raised is used to support those services in nearly 9,000 communities nationwide. For more information, please visit salvationarmycincinnati.org.
About Duke Energy
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
Duke Energy Contact: Sally Thelen
Office: 513.287.2432 | 24-Hour: 800.559.3853
The Salvation Army Contact: Julie Budden
Office: 513.704.4244
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SOURCE Duke Energy
Article Date
1/16/20181/16/2018 - Duke Energy's commitment to Florida communities amplified by more than $5 million of grant funding in 2017
Duke Energy's commitment to Florida communities amplified by more than $5 million of grant funding in 2017
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Jan. 16, 2018 /PRNewswire/ -- Duke Energy is powering its communities with more than electricity. In 2017, the company invested more than $5 million in Sunshine State nonprofit organizations.
The grants were awarded by the Duke Energy Foundation, which provides philanthropic support to address the needs vital to the health of its communities, with a focus on "K to Career" educational and workforce development initiatives, the environment and community impact.
"We are committed to our communities," said Harry Sideris, president, Duke Energy Florida. "Giving back is an integral part of our company's philosophy. We live, work and raise our children in the communities we serve, and we look forward to continuing our legacy of charitable giving and employee volunteerism."
Florida's 2017 grant recipients included organizations from across the state including Clearwater Marine Aquarium, Audubon Center for Birds of Prey, United Arts of Central Florida, Orlando Science Center, Bok Tower Gardens, CareerSource Pinellas, Inc./The Science Center, 35 education foundations supporting schools and dozens of others.
Duke Energy's philanthropy helped fund projects such as providing science, technology, engineering and math (STEM)-focused after school classes for underserved elementary and middle school students, assisting conservancy initiatives and supporting cultural arts and arts education.
The company also partnered with the Tampa Bay Rays on its Victories for Veterans program for the second consecutive year, through which the Duke Energy Foundation donated more than $79,000 to charities that support veterans across the state.
The Duke Energy Foundation also responded to emergent needs that arose in 2017, including $1 million to assist communities, customers and neighbors impacted by Hurricane Irma. The funds were distributed through state, regional and local organizations, such as the Volunteer Florida Foundation, 14 United Way agencies, the Energy Neighbor Fund and several community agencies.
The foundation awarded a $1 million grant to United Way Suncoast for the Campbell Park community and its surrounding neighborhoods in St. Petersburg, Fla. Duke Energy Florida's commitment is enabling United Way Suncoast to rapidly expand and increase capacity at the center that empowers individuals and families with resources and training to work toward long-term stability.
"Lives will be changed for the better thanks to Duke Energy Foundation's investment in the Campbell Park community," said Suzanne McCormick, president and CEO of United Way Suncoast. "Their generosity continues to inspire others to take action and we are proud to have them as partners in the newly opened Campbell Park Resource Center Annex, serving children and families across the community."
Employee Volunteerism
Duke Energy's financial support solidifies its commitment to the communities it serves. Florida employees have also rolled up their sleeves to help their neighbors. Last year, employees volunteered more than 15,000 hours in their communities.
In 2017, employees participated in dozens of volunteer events in Florida, including restoring native habitats by planting critically-endangered species at Bok Tower, cleaning the Port St. Joe coast for sea turtle nesting season, helping children get to school safely with the "walking school bus" program, painting and enhancement projects in the Campbell Park neighborhood, completing landscaping and beautification projects at Bay Pines Veterans Affairs Healthcare System and organizing food, clothing and school supply drives for those in need. A wrap-up video highlighting Duke Energy volunteer events in Florida is available at https://www.youtube.com/watch?v=RMwcHboEnyQhttps://youtu.be/GzMRPsaCNxM.
The foundation annually funds more than $30 million to communities throughout Duke Energy's seven-state service area. In 2016, the company donated more than $3 million to nonprofit organizations in Florida.
For additional information on Duke Energy's community giving programs visit duke-energy.com/foundation.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592 | 24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
1/16/20181/11/2018 - Duke Energy Ohio/Kentucky prepares for first winter storm of 2018; crews prepared to respond
Duke Energy Ohio/Kentucky prepares for first winter storm of 2018; crews prepared to respond
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CINCINNATI, Jan. 11, 2018 /PRNewswire/ -- With forecasts for possible heavy snow and freezing rain in the Midwest, Duke Energy Ohio/Kentucky is preparing to respond to possible power outages.
Heavy wet snow or freezing rain can cause outages due to the weight they create on tree limbs, which can break or sag onto power lines. Widespread outages usually do not occur until there is more than six inches of wet snow or a quarter-inch of ice accumulation. However, customers should be prepared anytime wintry weather is forecasted.
Duke Energy meteorologists continue to monitor weather conditions and the company will adjust its preparation plans accordingly. Weather can be unpredictable, so it is always good to be prepared for whatever conditions occur. Snow can cause hazardous driving conditions resulting in traffic accidents and downed power poles resulting in isolated outages.
The company is prepared to respond if severe weather situations occur. Line technicians, service crews and other personnel are available throughout Duke Energy's Midwest service area, and are ready to respond anytime outages and emergencies occur.
Power outages expected
Based on the current forecast, widespread, multiple-day power outages are expected and customers should be prepared. In addition, weather and travel conditions may be hazardous and challenging, and could delay Duke Energy workers' ability to fully assess storm damage and completely restore electric service.
With temperatures below freezing, customers should make alternate arrangements as needed – especially families who have special medical needs or elderly members. We urge everyone to be prepared and stay safe – and encourage other family members, friends and neighbors to do the same.
Safety Reminders
Reporting outages
Customers who experience an outage during the storm have choices on how to report it:
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur:
Cold temperatures increasing demand
About Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24 Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/11/2018Duke Energy Indiana prepares for first winter storm of 2018; crews prepared to respond
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., Jan. 11, 2018 /PRNewswire/ -- With forecasts for possible heavy snow and freezing rain in the Midwest, Duke Energy Indiana is preparing to respond to possible power outages.
Heavy wet snow or freezing rain can cause outages due to the weight they create on tree limbs, which can break or sag onto power lines. Widespread outages usually do not occur until there is more than six inches of wet snow or a quarter-inch of ice accumulation. However, customers should be prepared anytime wintry weather is forecasted.
Duke Energy meteorologists continue to monitor weather conditions and the company will adjust its preparation plans accordingly. Weather can be unpredictable, so it is always good to be prepared for whatever conditions occur. Snow can cause hazardous driving conditions resulting in traffic accidents and downed power poles resulting in isolated outages.
The company is prepared to respond if severe weather situations occur. Line technicians, service crews and other personnel are available throughout Duke Energy's Midwest service area, and are ready to respond anytime outages and emergencies occur.
Power outages expected
Based on the current forecast, widespread, multiple-day power outages are expected and customers should be prepared. In addition, weather and travel conditions may be hazardous and challenging, and could delay Duke Energy workers' ability to fully assess storm damage and completely restore electric service.
With temperatures below freezing, customers should make alternate arrangements as needed – especially families who have special medical needs or elderly members. We urge everyone to be prepared and stay safe – and encourage other family members, friends and neighbors to do the same.
Safety Reminders
Reporting outages
Customers who experience an outage during the storm have choices on how to report it:
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur:
Cold temperatures increasing demand
About Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24 Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/11/2018Duke Energy Indiana customers set a new all-time winter peak record for energy use
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., Jan. 10, 2018 /PRNewswire/ -- Duke Energy Indiana customers set a new all-time winter peak record for energy usage on Tuesday, Jan. 2. Duke Energy Indiana serves approximately 820,000 households and businesses in parts of 69 counties.
The unofficial winter peak record is now 7,281 megawatt-hours in the hour ending at 9 a.m., which beat the previous record set on Jan. 6, 2014, when customers used 7,214 megawatt-hours.
"Last week was bitterly cold in Indiana, and our team worked around-the-clock to make sure we were prepared to meet our customers' energy needs," said Nelson Peeler, senior vice president and chief transmission officer. "Extreme temperatures drive record usage since the majority of the energy we use as consumers is for heating or cooling our homes and businesses. Our system performed well during this time frame when we know our customers count on us most."
Duke Energy system operators closely monitored the electric system as temperatures dove well below zero degrees at times last week and helped ensure the company had an adequate supply of electricity to meet energy demand.
Cold weather can cause energy usage to spike, and it is a good time for customers to use energy more efficiently to manage their bills and help ensure reliability of the electric grid. Tips for saving on your winter heating bill: https://illumination.duke-energy.com/articles/tips-for-saving-on-your-winter-heating-bill.
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lew Middleton
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/10/2018Duke Energy to announce fourth quarter and year-end 2017 financial results on Feb. 20
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 9, 2018 /PRNewswire/ -- Duke Energy will announce the release of its fourth quarter and year-end 2017 financial results at 7 a.m. ET on Tuesday, Feb. 20, in a news release to be posted on the company's website at www.duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day.
In addition to discussing the fourth quarter and year-end 2017 financial results, the company will provide its 2018 adjusted diluted earnings per share guidance range and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (www.duke-energy.com/investors) of Duke Energy's website or by dialing 888-428-9473 in the United States or 719-325-4869 outside the United States. The confirmation code is 5459491. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, March 2, 2018, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 5459491. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
1/9/2018Duke Energy Carolinas customers set new all-time peak record for energy use
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 8, 2018 /PRNewswire/ -- Duke Energy Carolinas customers set a new all-time peak record for energy usage on Friday, Jan. 5. Duke Energy Carolinas serves 2.5 million households and businesses in central and western North Carolina and upstate South Carolina.
The unofficial peak record is now 21,623 megawatt-hours in the hour ending at 8 a.m., which beat the previous record set on Feb. 20, 2015, when customers used 21,101 megawatt-hours.
"Last week was bitterly cold in the Carolinas, and our team worked around-the-clock to make sure we were prepared to meet our customers' energy needs," said Nelson Peeler, senior vice president and chief transmission officer. "Extreme temperatures drive record usage since the majority of the energy we use as consumers is for heating or cooling our homes and businesses. Our system performed well during this time frame when we know our customers count on us most."
Duke Energy system operators closely monitored the electric system as temperatures dove well below freezing last week and helped ensure the company had an adequate supply of electricity to meet energy demand.
Cold weather can cause energy usage to spike, and it is a good time for customers to use energy more efficiently to manage their bills and help ensure reliability of the electric grid. Tips for saving on your winter heating bill: https://illumination.duke-energy.com/articles/tips-for-saving-on-your-winter-heating-bill.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Meghan Miles
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
1/8/2018Duke Energy Ohio names Amy Spiller vice president of Government and Community Affairs
Source: PR Newswire
CINCINNATI, Jan. 8, 2018 /PRNewswire/ -- Duke Energy Ohio has named Amy Spiller vice president of Government and Community Affairs, effective Jan. 16, 2018. Spiller will manage state government and regulatory policies, strategies and relationships impacting Duke Energy Ohio's interests and those of its customers. She will also lead the company's local community relations efforts with key stakeholders in southwest Ohio.
"Amy brings deep knowledge and experience, commitment and proven leadership to build on our positive record in Ohio," said Jim Henning, president of Duke Energy Ohio/Kentucky. "She'll continue to be an outstanding advocate for our customers and stakeholders across southwest Ohio – as we continue our path toward a smarter energy future."
Spiller joined Cinergy, a predecessor to Duke Energy, in 2003 as an associate general counsel focused on litigation. In 2008, she was promoted to her current role of deputy general counsel, where she helps shape and guide the company's regulatory strategic planning in Ohio and Kentucky. Spiller is also responsible for advancing Duke Energy's rate and regulatory initiatives before the Kentucky Public Service Commission and Public Utilities Commission of Ohio. She will continue to lead this important legal function until the company names her successor.
"I'm excited for this opportunity and the challenge of my new role," said Spiller. "Most of all, I'm thrilled to work with a very respected, passionate and talented team."
Spiller earned a bachelor's degree in economics and management from Albion College in Michigan and a law degree from Wake Forest University in Winston-Salem, N.C. Following law school, she spent two years working for a legal publishing company in northeast Ohio. Then, from 1993 to 2003, Spiller rose from associate to partner at a small insurance defense law firm in Cincinnati.
She serves on the board of directors of Red Bike, Cincinnati's nonprofit bike-share system, and is a member of the Cincinnati and Northern Kentucky bar associations. Spiller previously served on the boards of Accountability and Credibility Together and the Cincinnati Youth Collaborative, and was a member of the steering committee for the Greater Cincinnati Minority Counsel Program. She's a graduate of the Cincinnati Chamber of Commerce's WE Lead program and, in 2015, Spiller was also inducted into the Hall of Fame of Duke Energy's Business Women's Network employee resource group in Cincinnati. A native of northern Michigan, Spiller and her husband, Keith, have lived in Cincinnati for nearly 25 years.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
513.287.4152 | @DE_LeeF | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/8/2018Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 5, 2018 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.890 per share payable on March 16, 2018, to shareholders of record at the close of business Feb. 16, 2018.
Duke Energy has paid a cash dividend for 92 consecutive years.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
1/5/2018Duke Energy offers cold weather energy and money-saving tips
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Jan. 2, 2018 /PRNewswire/ -- The new year brought in a blast of cold weather, and Duke Energy is offering some tips for managing your energy costs.
As colder temperatures settle in, follow these simple energy-efficiency tips to save all winter long:
Money-saving tips to combat the cold
For a video on five ways to save energy under $50, go to https://illumination.duke-energy.com/articles/5-ways-to-save-energy-for-under-50.
Power Outages
The company has sufficient resources to meet customers' energy needs, but the low temperatures will put higher stress on mechanical equipment used to generate and deliver electricity. Isolated equipment problems are possible, which could result in scattered outages.
Customers who experience power outages should call Duke Energy's automated outage-reporting systems for their respective utility:
Duke Energy Carolinas: 1-800-POWERON (1-800-769-3766)
Duke Energy Progress: 1-800-419-6356
Customers may also report an outage or view current outages online at www.duke-energy.com/outages or text OUT to 57801.
With the colder than normal temperatures, it also is a good time to check on friends, neighbors and family members who may be elderly to ensure they have what they need to stay warm and that their emergency kits are ready in the event of a power outage.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/2/2018Duke Energy Florida seeks storm cost recovery for Hurricane Irma
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Dec. 28, 2017 /PRNewswire/ -- Duke Energy Florida today filed a petition with the Florida Public Service Commission (FPSC) to recover from customers an estimated $381 million in costs associated with the company's response to September's Hurricane Irma in Florida.
In addition, the company is seeking to recover $132 million to replenish its storm reserve fund for use in responding to future storms. The company depleted the remaining $62 million in the reserve fund as part of its Hurricane Irma storm response.
Based on updated estimates, residential customers will see an increase of $5.20 per 1,000 kWh of electricity on a typical monthly bill, assuming a three-year recovery period.
Commercial and industrial customers will see an increase of approximately 2.5 to 6.6 percent, though bills will vary depending on a number of factors.
Spreading the recovery over a three-year period will help reduce the monthly impact to customers.
Under the current settlement agreement, the company is authorized to begin recovering both the storm impact and reserve replenishment 60 days after filing a petition with the FPSC.
The FPSC will review the proposed initial storm cost recovery surcharge within 60 days.
The charge will become effective with the first billing cycle for March 2018 and will continue through February 2021. The FPSC will then schedule a hearing process to review the final actual costs and adjust the billing rate if necessary. This will occur later in 2018.
"This past hurricane season impacted Florida significantly, from damaging homes and infrastructure to affecting agriculture and tourism. Duke Energy Florida understands the impact this filing has on both our residential and business customers," said Harry Sideris, Duke Energy Florida state president. "We will continue making smart investments to significantly enhance service reliability throughout the year, including during storm season."
Irma was a historic hurricane which caused widespread, devastating damage across the Southeast region. However, utilities united and battled back with an unprecedented response.
Duke Energy crews and contractors traveled to Florida from as far as Canada to get 1.3 million customers restored as quickly and safely as possible.
In Florida, more than 12,000 line and field workers replaced approximately 1,800 distribution poles, 140 transmission poles and 1,100 transformers.
Duke Energy restored power to more than 75 percent of customers in just three days and 99 percent within eight days.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ann Marie Varga
Office: 727.820.5048 | 24-Hour: 800.559.3853
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SOURCE Duke Energy Florida
Article Date
12/28/2017Duke Energy announces 2017 Power Partner award winners
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Dec. 27, 2017 /PRNewswire/ -- The familiar phrase "Cream rises to the top" precisely describes each of the six organizations receiving the 2017 Duke Energy Power Partner award.
Duke Energy established the Power Partner award in 1992 to honor businesses and other organizations that achieve exemplary results in categories that include solutions innovation, community excellence, renewable excellence, sustainability innovation and storm restoration. Each of the 2017 Power Partners will be recognized at individual award ceremonies this winter.
"This year, we made adjustments to the nomination and selection process by choosing winners in distinct categories that align with Duke Energy's purpose and core values," said Chris Edge, Duke Energy vice president for large business customers. "We are proud to shine a light on these companies that consistently demonstrate their devotion to leadership, collaboration and business excellence."
The 2017 Power Partner award-winning organizations include:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/27/201712/27/2017 - Duke Energy sending additional personnel, resources to accelerate power restoration in Puerto Rico
Duke Energy sending additional personnel, resources to accelerate power restoration in Puerto Rico
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Dec. 27, 2017 /PRNewswire/ -- Duke Energy is joining the U.S. utility industry effort to help rebuild electric infrastructure and restore power to the island of Puerto Rico, the U.S. territory hit hard by Hurricane Maria earlier this year, with hundreds of thousands of residents still without electricity.
Beginning in January, the company will send more than 200 Duke Energy employees along with trucks, equipment and supplies to support the effort to rebuild the power grid and restore electric service to areas hit hard by the storm. Personnel from Duke Energy operations in the Midwest, Carolinas and Florida will take part in the effort.
The company previously sent a contingent of 100 contract line workers to support recovery efforts.
The Duke Energy team will join personnel from several U.S. electric companies deploying resources to support the effort – a total of nearly 1,500 additional restoration workers.
The workers will join the Puerto Rico Electric Power Authority (PREPA), FEMA and the U.S. Army Corps of Engineers (USACE), which have had incident management teams on the island since early December completing damage assessments of Puerto Rico's energy grid and developing a coordinated restoration plan.
With the additional resources, the total number of power restoration workers will increase to more than 5,500. These include resources already working on the island from PREPA's own crews, a contingent of crews from New York who are working as part of an intergovernmental agreement, and crews mobilized under USACE contracts.
The additional crews, including Duke Energy personnel, are scheduled to begin restoration efforts by Jan. 15.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/27/2017Duke Energy board appoints Robert Davis as board member
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Dec. 14, 2017 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of Robert Davis, chief financial officer and executive vice president of global services at healthcare company Merck & Co., Inc., as a new board member, effective Jan. 8, 2018.
"Rob brings a record of strong and creative leadership in an industry undergoing rapid change," said Lynn Good, Duke Energy's chairman, president and CEO. "His extensive knowledge and insights will be immensely valuable to Duke Energy as we similarly navigate the challenges and opportunities of an industry in transition."
Davis will serve on two Duke Energy board committees: audit, and finance and risk management.
Davis joined Merck in 2014.
Prior to Merck, he worked for Baxter, International Inc., where he served as the company's corporate vice president and president of Medical Products from 2010 through 2014. In that role, he oversaw a range of businesses with products used in the delivery of fluids and drugs to patients, and in the treatment of end-stage kidney disease.
Prior to that position, Davis served as corporate vice president and president of Baxter's renal business.
He served as Baxter's corporate vice president and chief financial officer from 2006 through 2010, and the company's treasurer from 2004 through 2006.
Prior to joining Baxter, Davis worked at Eli Lilly and Co., where he held numerous positions of increasing responsibility over 14 years.
He has served on the board of directors for C.R. Bard, Inc., since 2015, and is a member of its finance, audit, and science and technology committees.
Davis previously served on the board of trustees for Rush University Medical Center, and as a member of its finance committee from 2006 through 2014.
He was a member of the board of directors of AdvaMed from 2010 through 2014, and a member of the board of the Baxter International Foundation from 2006 through 2014.
Davis earned his J.D. degree from Northwestern University School of Law, and his MBA from Northwestern University's Kellogg Graduate School of Management, after graduating from Miami University with a bachelor's degree in finance.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800-559-3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-board-appoints-robert-davis-as-board-member-300571740.html
SOURCE Duke Energy
Article Date
12/14/201712/12/2017 - Duke Energy Florida expands solar in the Sunshine State with completion of Suwannee facility
Duke Energy Florida expands solar in the Sunshine State with completion of Suwannee facility
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Dec. 12, 2017 /PRNewswire/ -- Duke Energy Florida customers are now benefiting from an additional 8.8 megawatts (MW) of solar, a carbon-free renewable resource in the Sunshine State.
The company's newest solar power plant contains nearly 44,000 solar panels on 70 acres in Suwannee County.
Elected officials and community leaders will join Duke Energy at a commemorative ribbon cutting and solar panel signing ceremony on Dec. 14 at 10 a.m. to celebrate the opening. The facility is located at 4020 River Road, Live Oak, Fla., just east of the existing Suwannee power plant.
"We are proud of our newest solar power plant and excited about our future solar development in Florida," said Harry Sideris, Duke Energy Florida state president. "In the next four years, we will be adding up to 700 MW of new solar generation as part of our ongoing strategy to offer cleaner, smarter energy solutions that customers value in the Sunshine State."
Duke Energy Florida's Suwannee Solar Facility began operating in November. Solar projects enable the company to efficiently bring the greatest amount of renewable energy online for customers in the most economical way.
The company retired three natural gas units at the Suwannee power plant December 2016. Originally the units, built in the early 1950s, were oil-fired. The steam units were converted to run on natural gas and generated 129 MW. Three other 1980s era clean-burning, natural gas units, capable of generating 155 MW, remain in operation on the plant site as part of the system that supplies extra energy when demand from customers is the greatest.
Plans to build additional solar
A settlement agreement approved by the Florida Public Service Commission will allow the company to add up to 700 (MW) of cost-effective solar over the next four years, accelerating the company's previous 10-year solar installation plan. The company plans to begin construction of its sixth Florida solar power plant to be located in Hamilton County in 2018. The plant will have approximately 300,000 solar panels and will be built on nearly 550 acres of land in Jasper.
The 74.9-MW Hamilton Solar Plant will produce clean, emissions-free energy, which will be enough to power more than 20,000 homes at peak production.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 MW of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/12/201712/8/2017 - Atlantic Coast Pipeline signs Project Labor Agreements with four leading construction trade unions
Atlantic Coast Pipeline signs Project Labor Agreements with four leading construction trade unions
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
RICHMOND, Va., Dec. 8, 2017 /PRNewswire/ -- Atlantic Coast Pipeline, LLC announced today it has signed Project Labor Agreements with the nation's four leading building and construction trade unions. The agreements reaffirm the Atlantic Coast Pipeline project's commitment to hiring skilled union workers for the pipeline's construction. The agreements were signed with the Laborers' International Union of North America (LiUNA), Teamsters National Pipeline (Teamsters), International Union of Operating Engineers (IUOE) and the United Association of Journeymen and Apprentices of the Plumbing and Pipe Fitting Industry of the United States (United Association).
"From day one we've committed to building this project to the highest standards of quality and safety," said Leslie Hartz, Dominion Energy's Vice President, Engineering & Construction. "These organizations represent the most highly-skilled and well-trained professionals in the industry. They have the training, dedication and experience we need, and we're proud to have them on board for this historic project," Hartz concluded.
Commitment to Hiring Local
Under the agreements, the four trade unions will be responsible for hiring and training the 13,000 construction workers needed to build the pipeline. The unions have committed to hiring at least half of the construction workforce through local union membership in West Virginia, Virginia and North Carolina. Furthermore, the organizations have committed to hiring at least 25 percent of all new hires – individuals joining the trade unions for the first time – from the local communities where the pipeline will be built.
Biggest Job-Creating Infrastructure Project in Decades
"This is the biggest job-creating infrastructure project we've seen in our region for many decades," said Dennis Martire, LiUNA's Vice President & Mid-Atlantic Regional Manager. "This is a once-in-a-generation opportunity to rebuild our region's infrastructure and bring back the middle class jobs that have disappeared from too many of our communities. Our members live in these communities, so we have a personal stake in doing this the right way and with the utmost care for safety and the environment. We have the skills and the work ethic that it takes to build a project like this, and we're just grateful for the opportunity to put those skills to work for our economy and our energy security," Martire concluded.
Free Training and Apprenticeships for Local Residents
In addition to employing thousands of local tradesmen and craftsmen, the Atlantic Coast Pipeline will provide opportunities for many local residents to pursue new careers in the construction industry. The trade unions are offering free local training and apprenticeship programs so local residents can develop new skills and gain real-world experience in the industry. After construction of the Atlantic Coast Pipeline is complete, many will go on to pursue long-term careers in the building and construction trades.
Opportunities for Local Veterans
Through their participation in the 'Helmets to Hardhats' program, the trade unions will also provide job opportunities to many local veterans. 'Helmets to Hardhats' is a national, nonprofit program that connects National Guard, Reserve, retired and transitioning active-duty military service members with skilled training and quality career opportunities in the construction industry.
"This project is going to be a game changer for working people in our region, including our veterans," said Matt Yonka, President of the Virginia Building and Construction Trades Council. "We're talking about thousands of new jobs for men and women who have spent their careers developing their craft and contributing to our economy. We're also talking about hundreds, if not thousands of local residents, including our veterans, who will have the chance to start a new career and earn a better livelihood. We're ready to get to work on this project so we can grow our economy and support our families," Yonka concluded.
Skilled Crafts and Trades
The four organizations signing the agreements represent the crafts and trades that will perform the bulk of mainline construction activity for the Atlantic Coast Pipeline:
About Atlantic Coast Pipeline, LLC
Atlantic Coast Pipeline, LLC is comprised of four major U.S. energy companies – Dominion Energy, Duke Energy, Piedmont Natural Gas and Southern Company Gas. The joint venture partners plan to build and own the Atlantic Coast Pipeline, a proposed 600-mile underground natural gas transmission pipeline that will help meet the growing energy needs of public utilities in Virginia and North Carolina to generate cleaner electricity, heat homes and power local businesses. For more information about the Atlantic Coast Pipeline, visit the project's website at www.atlanticcoastpipeline.com.
About Dominion Energy
Dominion Energy (NYSE: D) is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 25,700 megawatts of generation, 15,000 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion Energy operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company's website at www.dominionenergy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States. Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest. Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
About Southern Company Gas
Southern Company Gas is a wholly owned subsidiary of Atlanta-based Southern Company (NYSE:SO), America's premier energy company. Southern Company Gas serves approximately 4.6 million natural gas utility customers through its regulated distribution companies in seven states and more than 1 million retail customers through its companies that market natural gas and related home services. Other nonutility businesses include investments in interstate pipelines, asset management for natural gas wholesale customers and ownership and operation of natural gas storage facilities. For more information, visit Southern Company Gas at www.southerncompanygas.com.
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SOURCE Dominion Energy
Article Date
12/8/2017Duke Energy provides $700,000 in winter assistance funds in Indiana
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., Dec. 7, 2017 /PRNewswire/ -- Duke Energy is once again assisting customers who may struggle to pay their winter energy bills.
The company is contributing $600,000 for low-income customer energy assistance through its Helping Hand program.
In addition, Duke Energy Indiana customers and employees have contributed about $96,000 to date for the program, raising this year's total to almost $700,000.
"We established the Helping Hand program in 1983 to provide assistance in the winter to Indiana customers," said Duke Energy Indiana President Melody Birmingham-Byrd. "The program is funded by Duke Energy shareholders and customer donations to lend a Helping Hand to those who need assistance with their winter electric bills."
Customers who need help paying their electricity bills can receive up to $300 toward their bill if a local Energy Assistance Program agency determines they are eligible based on need and other criteria.
Duke Energy Indiana partners with the Indiana Community Action Association and the Indiana Housing and Community Development Authority's Energy Assistance Program, which distributes the company's assistance funds.
"Last year, the program was able to assist over 5,700 Indiana households maintain their utility service," said Ed Gerardot, executive director of the Indiana Community Action Association. "Beyond that, the assistance allows low-income Hoosiers to have increased resources for other household needs."
For more information on how to cut costs and stay warm this winter, visit duke-energy.com/home/savings/winter-heating-energy-savings. Duke Energy (NYSE: DUK) also offers energy efficiency products, services and information to help customers save energy and money. For more information, visit duke-energy.com.
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/7/2017Duke Energy assumes full ownership of California-based REC Solar
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Dec. 6, 2017 /PRNewswire/ -- Duke Energy, one of the largest energy companies in the country, announced today it has acquired full ownership of California-based REC Solar, a provider of renewable energy solutions for commercial customers throughout the U.S. Duke Energy first acquired a majority interest in REC Solar in February of 2015.
REC Solar will continue to be a part of Duke Energy Renewables, Duke Energy's commercial renewables organization. Duke Energy Renewables' experience in offsite solar and wind energy generation, microgrid, battery storage and other emerging technologies, will supplement REC's onsite solar expertise.
"REC Solar complements our strengths in forming strategic partnerships with customers of all sizes," said Chris Fallon, vice president Duke Energy Renewables and Commercial Portfolio. "Energy solutions specifically tailored to the commercial consumer will expand renewable energy opportunities for enterprise, municipal, educational and business customers, large and small."
For example, the energy solutions deployed by Montgomery County, Maryland, partnering with Duke Energy Renewables, REC Solar and Schneider Electric, exemplify the opportunities afforded by tapping into a diversified energy portfolio. The county incorporated solar and high-efficiency heat delivered through a microgrid-as-a-service model to provide a more resilient and reliable power source that produces approximately 10.7 million kilowatt hours of solar energy per year, reducing greenhouse gas emissions by 3,629 metric tons.
"Duke Energy brings expertise in utility-scale renewables and enables us to be a one-stop-shop solution for customers in a complex marketplace," said Matthew Walz, president & CEO of REC Solar. "We can offer our customers access to more financing options and diverse energy choices, whether it be offsite or onsite, battery storage, solar power or wind generation."
Duke Energy purchased the remaining shares of REC Solar in a cash transaction. Details were not disclosed. REC Solar will be managed as an independent business unit of Duke Energy Renewables.
ABOUT DUKE ENERGY RENEWABLES
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar renewable generation throughout the continental U.S. The portfolio includes nonregulated renewable energy and energy storage assets. Duke Energy Renewables' renewable energy includes utility-scale wind and solar generation assets which total 2,900 MW across 14 states from 20 commercial wind and 63 solar projects. The power produced from renewable generation is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities and commercial and industrial customers. Learn more at https://www.duke-energy.com/renewable
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
ABOUT REC SOLAR
REC Solar is a nationwide leader providing complete commercial, public sector and utility-scale solar solutions. In 1997, our founders had a simple idea – create better power. Since then we have helped hundreds of organizations across the United States think differently about energy; saving money, creating predictability in operating costs, reducing their environmental impact, and pushing their business forward. REC Solar offers all design, engineering, financing and maintenance services in house, allowing for a simple customer experience. Our unmatched expertise and quality are enhanced by the creativity we bring to each project. By integrating into the core beliefs, values and community of the organizations we work with, we generate greater business value. For more information, visit RECSolar.com.
Contact: Tammie McGee, Duke Energy
Media line: 800.559.3853
Contact: Ann Kroll
805.471.0085, REC Solar
akroll@recsolar.com
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SOURCE Duke Energy
Article Date
12/6/2017TIO Networks data compromise potentially affects some Duke Energy customers
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Dec. 5, 2017 /PRNewswire/ -- Duke Energy Carolinas customers who paid a bill at one of the company's 550 authorized walk-in payment processing centers between 2008 and 2017 may be affected by a potential compromise of personally identifiable information, according to PayPal Holdings, who recently acquired TIO Networks, which is the company who owns the network used to process payments made at those locations.
TIO Networks will begin notifying anyone whose information they believe may be included in the potential compromise, including approximately 374,000 Duke Energy Carolinas customers, who may be affected. The letter will come directly from TIO Networks and will include detailed questions and answers and a phone number for additional information.
"This TIO Networks issue has possibly and unfortunately affected some of our customers, and we are doing all we can to help," said Lesley Quick, Duke Energy's vice president of revenue services. "We have remained in daily contact with our vendor since they abruptly and unexpectedly disabled their network on Nov. 10 for suspected "security vulnerabilities."
This issue only affects customers who paid by check or cash at an authorized walk-in payment processing center, and not customers who paid via credit card or another form of payment. The personally identifiable information that may have been compromised includes, name, address, Duke Energy account number and balance, and banking information, if a customer paid by check.
"We regret the frustration and inconvenience this issue has created for our customers who rely on our authorized walk-in locations to pay their monthly energy bills," said Quick. "We are doing all we can on behalf of our customers to ensure they receive timely information and action from TIO Networks."
Duke Energy Carolinas customers can continue to make payments in person at any Western Union location -- an agreement that Duke Energy established shortly after TIO Networks suspended the payment system -- or can pay by check, debit or credit card online at www.duke-energy.com or by calling 800-777-9898, select option 2 for "billing and payments," then option 1 to make a payment.
Customers who believe they may be impacted or have questions should visit http://tionetworks.com/ for more information.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Paige Layne
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/5/201712/5/2017 - Duke Energy helps power site readiness in Gulf, Lake, Polk and Sumter counties in Florida
Duke Energy helps power site readiness in Gulf, Lake, Polk and Sumter counties in Florida
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Dec. 5, 2017 /PRNewswire/ -- Florida communities are always looking for a competitive edge to lure large business and industry to their areas, creating more jobs and economic development activity. For Gulf, Lake, Polk and Sumter counties, that edge may well come from Duke Energy's Site Readiness Program.
Duke Energy selected four Florida properties for participation during the second half of its 2017 Site Readiness Program to prepare them for business and industrial development. The sites were selected based on their potential to bring large businesses and industries to their respective areas.
The locations include:
Two properties were selected earlier this year, for a total of six Florida properties participating in the 2017 Site Readiness Program. The properties selected earlier are Tavistock's International Corporate Park Sunbridge site, a 119-acre site in Orange County, and Crescent Communities' New Century Town Center site in Seminole County, which features approximately 100 available acres for development.
"As we work to build a smarter and more reliable energy future for our state, economic development is integral to creating stronger, more competitive communities and, ultimately, a stronger Florida," said Harry Sideris, Duke Energy Florida state president. "Helping our communities develop ready sites will attract business growth and bring increased job opportunities and economic prosperity to entire regions."
Duke Energy Florida's economic development efforts have helped attract more than 265 companies to Florida since 2001, resulting in more than 40,000 new jobs and $3.4 billion in capital investment.
Through the Site Readiness Program, Duke Energy identifies high-quality industrial sites and partners with county officials and local economic development professionals to develop a strategy for providing water, sewer, natural gas and electricity to the properties. Ideal properties for Duke Energy's Site Readiness Program are typically 75 acres or larger and served by the utility. Occasionally, a large vacant industrial building may be evaluated to support renewed industrial growth and sustainable development in a community.
Site selection consulting firm McCallum Sweeney Consulting evaluates each of the sites identified. In addition, Heidt Design, a Tampa, Fla.-based engineering firm, conducts buildable area studies and generates conceptual drawings to support each site evaluation. Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites. After each site's state of readiness has advanced, Duke Energy's Business Development team strategically markets these sites nationwide to companies looking to expand or relocate their operations.
Duke Energy's Site Readiness Program was recognized by Southern Business & Development magazine as one of the "South's Top 10 Site Programs" and was noted as one of the main reasons Duke Energy was named as one of the nation's "Top 10 Utility Economic Development Programs" by Site Selection Magazine for the past several years. For more information about Duke Energy's economic development programs along with available sites and buildings the in Duke Energy Florida service territory, visit duke-energy.com/FloridaSites.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ann Marie Varga
Cell: 407.399.3255
24-Hour: 800.559.3853
Twitter: @DE_AnnMarieV
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SOURCE Duke Energy
Article Date
12/5/2017Duke Energy joins industry initiative to enhance sustainability reporting for investors
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Dec. 4, 2017 /PRNewswire/ -- Duke Energy, an industry leader in transparent environmental, social and governance (ESG) reporting, is now helping pilot an innovative industry-wide approach to better communicate progress on ESG and sustainability issues.
The new reporting template was developed as part of an ongoing initiative by Edison Electric Institute (EEI) and its member companies to help provide investors with more uniformity and better consistency for ESG/sustainability metrics.
"Duke Energy has a long-standing track record of providing comprehensive information about our ESG activities to investors, customers and other stakeholders," said Mike Callahan, Duke Energy's vice president of investor relations. "Sustainable investing is gaining momentum and we want to make it even easier for investors to incorporate ESG considerations into their investing strategies."
Duke Energy is executing a strategy to deliver a cleaner, more sustainable energy future for customers. The company's ESG/sustainability efforts earned it a place on the Dow Jones Sustainability North American Index for the 12th consecutive year in 2017. Highlights of Duke Energy's efforts include:
In order to assess current ESG/sustainability reporting practices, Duke Energy joined an EEI working group to consult with institutional investors in developing an ESG reporting template that provides ESG metrics in a format that's uniform and succinct. Over several months, the group consulted with investors who specialize in asset management, ESG/sustainability, investment banking, and buy-side and sell-side research, as well as a diverse mix of electric company officials. More information about the EEI initiative here.
Duke Energy's pilot ESG/sustainability template is available at duke-energy.com/investors. Duke Energy also publishes an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more. The 2016 report is available online at sustainabilityreport.duke-energy.com.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/4/201711/28/2017 - Duke Energy celebrates National Giving Day by awarding nearly $235,000 in environmental grants in Greater Cincinnati
Duke Energy celebrates National Giving Day by awarding nearly $235,000 in environmental grants in Greater Cincinnati
Source: PR Newswire
CINCINNATI, Nov. 28, 2017 /PRNewswire/ -- In conjunction with National Giving Day, the Duke Energy Foundation announced it is investing nearly $235,000 in 11 Ohio and Kentucky environmental nonprofit organizations.
The grants will help fund environmental projects, including tree planting, water quality testing, and environmental education programs in the Ohio and Kentucky service territories.
"I've seen firsthand how our environmental grants can inspire and create a difference in our community," said Jim Henning, president, Duke Energy Ohio and Kentucky. "They're investments in the ongoing and future sustainability of our region."
One of the grants provides the organization Taking Root with a $25,000 grant to partner with the Arbor Day Foundation's Energy-Saving Trees program. The initiative will help homeowners identify the ideal location near their home structure to plant a tree to maximize energy savings and other environmental benefits.
"Funding from the Duke Energy Foundation means Taking Root can offer trees to residents in low-canopy neighborhoods, helping them to maximize long-term energy savings and other environmental benefits while increasing our region's canopy diversity," said Matt Stenger, executive director, Taking Root.
Another grant is for $20,000 for the Lincoln Heights Comprehensive Development Corporation to create a bioswale at the corner of Lindy and Leggett streets to teach 20 students about sustainability and have them help in selecting and planting the materials for the project.
"This generous grant from the Duke Energy Foundation will help us develop 20 Champions for the Environment in Lincoln Heights to begin creating a sustainable eco-district in our historic African-American village," said Linda Matthews, executive director, Lincoln Heights Development Corporation. "It will also help us improve air quality and reduce air pollution by increasing the tree cover, and provide both beauty and food for residents with fruit trees, vegetables and flower plantings."
Annually, the Duke Energy Foundation funds over $2 million in charitable grants, matching gifts and volunteer grants in Ohio and Kentucky. These grants are distributed across each of its priority areas, including environment, community impact and K-12 education.
Environmental grant recipients
These organizations received grants to improve the environment in their local communities:
Thomas More College – $49,910 will be used to educate K-12 students and the general public on the best management practices to reduce storm water runoff, to treat wastewater on site, and to conserve overall water resources.
Taking Root – $25,000 to be used for a tree planting initiative through an online mapping tool that assists residents in identifying the ideal location to plant a tree, which maximizes energy savings and other environmental benefits.
Ohio River Foundation – $10,000 to be used for a program that educates students on the care of freshwater mussels and how to support species repatriation to Ohio River watershed rivers, creeks and streams.
Foundation for Ohio River Education – $20,000 to be used for River Research, Education and Adventure Charters, which connects students to the Ohio River through hands-on water quality testing aboard Queen City Riverboats.
Civic Garden Center – $15,000 to bring a hands-on classroom, which will use an urban water cycle model and a digital display of research being conducted on-site, to educate students and adults about environmental sustainability.
Miami University – $20,000 to fund a program that focuses on helping students learn how to understand, analyze and solve interdisciplinary business challenges in the energy sector.
University of Cincinnati Foundation – $25,000 to create hands-on field biology experiments with middle and high school science teachers that will help integrate their research concepts into science courses.
Cincinnati Nature Center – $25,000 to help preserve native habitats for plants and wildlife that will expand the Nature Center's capacity and serve visitors with additional trails and educational opportunities.
Cincinnati Community ToolBank – $10,000 to be used to ensure local nonprofits will have access to more than 10,000 tools to better equip their volunteers and get the job done.
Woodlawn Community Improvement Corporation – $15,000 to help build an outdoor musical park featuring free-standing instruments designed for children and adults of all abilities.
Lincoln Heights Comprehensive Development Corporation – $20,000 to help construct a bioswale in the community that will be used as a tool to teach students about sustainability and ecosystems intended to be self-sufficient.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
Office: 513.287.2432 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/28/2017Duke Energy earns perfect score in 2018 Corporate Equality Index
Source: PR Newswire
CHARLOTTE, N.C., Nov. 17, 2017 /PRNewswire/ -- Duke Energy received a perfect score of 100 percent in Human Rights Campaign's national benchmarking study that annually ranks companies on LGBT-friendly corporate practices and policies. The perfect score earned Duke Energy the distinction of "Best Places to Work for LGBT Equality."
The 2018 Corporate Equality Index (CEI) rates employers based on criteria falling under five categories, including non-discrimination policies, benefits, organizational competency and accountability around LGBT inclusion, public commitment, and citizenship. Duke Energy is one of only four companies headquartered in the Charlotte region to achieve a perfect score.
"Our communities, customers and workforce are more diverse today than ever, and so we approach diversity and inclusion as a strategy for business success, as well as the right thing to do," said LaTonya King, Duke Energy's director of diversity and inclusion. "I'm very proud of the progress we've made and will continue to make on this journey toward inclusion."
Among the policies and practices in place at Duke Energy are anti-discrimination training, equal health coverage for transgender individuals without exclusion for medically necessary care, philanthropic giving to support the LGBT community, and an employee resource group whose mission is to promote LGBT inclusion. The WeR1 (We Are One for LGBT Equality) employee resource group has about 200 members and receives support from the company's senior leadership. Read more about WeR1 on our illumination site.
To read the full CEI report, visit hrc.org.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Candice Knezevic
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-earns-perfect-score-in-2018-corporate-equality-index-300558621.html
SOURCE Duke Energy
Article Date
11/17/2017Duke Energy and Piedmont Natural Gas join forces with utilities nationwide to shut down scammers and protect customers
Source: PR Newswire
CHARLOTTE, N.C., Nov. 13, 2017 /PRNewswire/ -- Nov. 15 marks the second annual Utility Scam Awareness Day, with natural gas and electric utility companies across the United States and Canada joining forces to inform customers and protect them from imposter utility scams. By sharing information and working together, Utilities United Against Scams (UUAS), is arming customers with the knowledge to spot scams and protect their information.
As part of the UUAS collaboration, communications are planned with customers during the week of Nov. 13 through the website, newsletters, email, bill messages, video, media, advertising and social media content.
"While Duke Energy customers have become nearly 50 percent less susceptible to scams since the formation of UUAS in 2016, scams continue to evolve," said Jared Lawrence, vice president of meter services and Piedmont Natural Gas operations, and executive chairman of Utilities United Against Scams. "By knowing what to look for, customers can continue to shut down scammers and protect their wallets and personal information."
Scammers posing as utility representatives use a variety of email, in-person and phone tactics to target families and businesses to steal money. According to Hiya, a phone spam protection company, utility scams grew 109 percent in 2016.
"In partnership with UUAS over the past six months, we've shut down more than 500 toll-free numbers running utility scams, making it more difficult for scammers to victimize customers of Duke Energy and other participating utilities," said Joel Bernstein, vice president of regulatory and public policy at Somos, which administrates toll-free numbers.
Common scam tactics
How to protect yourself
Duke Energy works closely with law enforcement and local attorneys general and business organizations to denounce scams and help protect communities.
For more information on how to spot a utility scam and protect personal information, visit duke-energy.com/StopScams and watch our "How to Spot a Scam" video.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/13/201711/13/2017 - Beautiful places across South Carolina will benefit from nearly $500,000 from Duke Energy
Beautiful places across South Carolina will benefit from nearly $500,000 from Duke Energy
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
GREENVILLE, S.C., Nov. 13, 2017 /PRNewswire/ -- The Duke Energy Foundation is investing nearly $500,000 in 14 South Carolina environmental nonprofit organizations.
The grants will fund environmental projects, wildlife conservation efforts and environmental educational programs across the Duke Energy service territory in the state.
"We are dedicated to protecting the natural beauty of South Carolina and being good stewards of the environment," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "By supporting the organizations that do this honorable work, we can help protect and restore wildlife and natural resources, and support quality environmental education programs in our state."
One of the grants, totaling more than $44,000, will help TreesGreenville coordinate five tree giveaways that help educate homeowners on the right place and right tree to plant in order to improve energy savings.
"Thanks to the Duke Energy Foundation, we're promoting tree planting and protecting a healthy community forest," said Joelle Teachy, executive director of TreesGreenville. "Together, we're giving away trees that are saving energy, improving air quality and providing public health benefits."
Another grant, totaling $10,000, will help Kalmia Gardens in Hartsville, S.C., bring Pee Dee area school children to the banks of the Black Creek for hands-on environmental education classes to give each of them an introduction to becoming environmental stewards.
"The Duke Energy Foundation grant will enable school children to visit Coker College's Kalmia Gardens and learn firsthand about the environment," said Dr. Will Carswell, vice president for external relations at Coker College. "Such trips are often cost prohibitive for many school districts in the area. The grant will also help with supplies and equipment necessary to make these trips a unique hands-on learning experience for so many children. We are indebted to Duke Energy for their support."
Annually, the Duke Energy Foundation funds nearly $2 million in charitable grants in South Carolina. These grants are distributed across each of its priority areas, including environment, community impact and K-12 education.
Environmental grant recipients
These organizations received grants to improve the environment in their local communities:
Anne Springs Close Greenway – $49,850 to bring hands-on environmental outreach education to elementary students in York and Lancaster counties.
Beautiful Places Alliance – $20,000 to help South Carolina State Parks provide expert instruction and hands-on field experiences to students as they explore the Mountain Bridge Wilderness Area.
Children's Museum of the Upstate – $150,000 to develop curriculum that will build on children's sense of wonder about nature and invite them to explore wildlife and the world around them at a new satellite museum in Spartanburg.
City of Pickens – $13,000 to create a sensory rain garden located at the Pickens Doodle Park.
Clemson University – $50,000 to expand programs that provide an environmental education on interrelationships of energy production and environmental stewardship for K-12 teachers at the Duke Energy Bad Creek Hydroelectric Station in Salem, S.C.
Florence County – $11,500 to provide environmental educational tools such as kiosks and signs for visitors to Lake City Park.
Kalmia Gardens – $10,000 to help bring Pee Dee area school children that otherwise might not have access to have a firsthand experience with environmental education at Kalmia Gardens.
Newberry Soil and Water Conservation District – $10,000 to assist private landowners in implementing wildlife habitat and water quality improvement practices in the expanded Indian Creek Wildlife Habitat Restoration Initiative area.
Pee Dee Land Trust – $20,000 to expand the Landowner Education Program, which educates private landowners about options for protecting their land and family legacy.
South Carolina Aquarium – $25,000 to support the traveling environmental education outreach program, Rovers, specifically underwriting service to middle school students in Marion County.
South Carolina Waterfowl Association – $27,000 to support Camp Leopold, a school year natural resource conservation and environmental education camp in Pinewood, S.C., that reconnects students to the land community through the use of hands-on environmental education programs.
South Carolina Wildlife Federation – $25,000 to proactively enhance wildlife habitat and offset the loss of prime acreage to commercial and residential development through environmental education programs for landowners.
Ten at the Top – $25,000 to support the Connecting Our Future Initiative, the goal of which is to build a coalition of stakeholders to develop a regional vision for the upstate – designed to increase connectivity while reducing congestion and environmental pollutants.
TreesGreenville – $44,168 for the "Energy Saving Tree" program, which helps residents conserve energy and reduce energy bills through strategic tree planting.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036 | 24-Hour: 800.559.3853
Twitter: @DE_RyanMosier
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SOURCE Duke Energy
Article Date
11/13/201711/3/2017 - Duke Energy's plan to strengthen South Carolina's energy grid will create jobs, grow the state's economy
Duke Energy's plan to strengthen South Carolina's energy grid will create jobs, grow the state's economy
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
GREENVILLE, S.C., Nov. 3, 2017 /PRNewswire/ -- Duke Energy is investing $3 billion over roughly the next 10 years in South Carolina to strengthen the energy grid and provide a major boost to the state's economy for years to come.
The program – Power/Forward Carolinas – will consist of upgrades that will harden the system against storms and outages, further protect it against cyberattacks and physical threats, help expand renewable energy, generate jobs and stimulate economic growth. It will also give 740,000 customers in the Palmetto State more information to manage their energy use.
"Safely powering the lives of hard-working families and maintaining the vitality of our communities are our most important responsibilities," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "Investing in smarter, efficient energy infrastructure is more than just good business – it's an investment in our state that helps to attract jobs and industry and makes our economy and our communities stronger."
Duke Energy's 10-year modernization plan for South Carolina will result in:
"In South Carolina, we work together to ensure that our businesses have the resources needed to succeed, and access to safe, affordable energy is certainly one of those key resources," said Secretary of Commerce Bobby Hitt. "For decades, Duke Energy has been critical in this effort; and this new initiative will only strengthen our state's reputation as an ideal location for business."
Dr. Joseph Von Nessen, a research economist at the University of South Carolina, studied the economic impact of the project as well as the overall impact of Duke Energy to the economic state of South Carolina.
"The investment associated with Duke Energy's grid improvement project represents one of the largest capital investments in South Carolina in recent years," Von Nessen said. "To put this into perspective, recent announcements from automotive manufacturers either expanding or relocating to South Carolina have ranged from $500 million to $1.5 billion, implying that the Power/Forward Carolinas initiative is roughly equivalent to several major automotive manufacturing announcements in the state."
To read the complete economic impact study conducted by Dr. Von Nessen, visit duke-energy.com/SCEconomicImpact.
For more information on Duke Energy's Power/Forward Carolinas plan to build a smarter energy future, visit duke-energy.com/SCfuture.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energys-plan-to-strengthen-south-carolinas-energy-grid-will-create-jobs-grow-the-states-economy-300549343.html
SOURCE Duke Energy
Article Date
11/3/2017Duke Energy reports third quarter 2017 financial results
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Nov. 3, 2017 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its third-quarter 2017 financial results in a news release available on the company's website at the following link: www.duke-energy.com/our-company/investors/financial-news.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (www.duke-energy.com/our-company/investors/financial-news) of Duke Energy's website or by dialing 888-339-3513 in the United States or 719-457-2683 outside the United States. The confirmation code is 8614622. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 13, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 8614622. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
11/3/201711/2/2017 - Duke Energy Foundation invests $216,500 to protect and restore Florida's wildlife and natural resources
Duke Energy Foundation invests $216,500 to protect and restore Florida's wildlife and natural resources
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Nov. 2, 2017 /PRNewswire/ -- Duke Energy is helping protect and restore Florida's environment through $216,500 in foundation grants to seven Florida-based organizations.
The grants will fund environmental projects, as well as educational and research programs throughout the state.
"As a steward of the environment, Duke Energy is proud to support local programs that protect and restore wildlife and natural resources and make a positive difference for our customers, communities and the future we share," said Harry Sideris, Duke Energy Florida state president.
The grants are administered through the Duke Energy Foundation, which provides philanthropic support to communities served by Duke Energy, with a focus on "K to Career" educational and workforce development initiatives, the environment and community impact.
"Our partnership with Duke Energy, to motivate people to conserve water and energy and protect important habitats for birds, is paying off watt by watt and drop by drop," said Katie Gill Warner, Audubon Center for Birds of Prey center director. "Working to create healthy communities, Audubon reaches thousands of students each year to share about the WEB: Water, Energy and Birds and how they are all connected."
This year's recipients include:
Duke Energy has given more than $59 million to Florida charitable organizations since 2000.
Additionally, Duke Energy Florida employees volunteered more than 51,000 hours of community service within the last five years through the Duke Energy In Action program.
For additional information on Duke Energy's community giving programs, visit duke-energy.com/foundation.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The Foundation provides more than $30 million annually in charitable gifts. The Foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592
24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
11/2/2017$400,000 in Duke Energy solar grants awarded to not-for-profit organizations serving low-income Indiana populations
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., Nov. 2, 2017 /PRNewswire/ -- With $400,000 in funding from Duke Energy, Indiana's key consumer groups are awarding 16 not-for-profit organizations grants to help finance the installation of solar power systems to reduce the energy bills at facilities serving low-income Hoosiers.
The funding comes from a Duke Energy settlement agreement with the Citizens Action Coalition, the Duke Energy Industrial Group, the Indiana Office of Utility Consumer Counselor, Nucor Steel, Save the Valley, Sierra Club and Valley Watch.
"From a Head Start classroom in Princeton to a 1925 armory converted to affordable apartments for seniors in Columbus, there is a diversity of projects in these grants," said Duke Energy Indiana President Melody Birmingham-Byrd. "These are organizations with environmental goals as well as community-oriented missions."
Titled "Solar Uniting Neighbors," or "SUN," the program provides access to solar energy technology in Indiana. Prosperity Indiana, a community economic development organization, is the program's administrator.
"We are so pleased to be able to support these worthy organizations and their missions of serving vulnerable Hoosiers," said Jennifer Washburn, counsel for Citizens Action Coalition. "These solar energy projects will reduce the monthly expenses of these non-profits, allowing them to provide even greater assistance to their communities and the populations they serve."
"These organizations and the people they serve will benefit from these projects," said Indiana Utility Consumer Counselor Bill Fine. "The settlement agreement benefits customers in a variety of ways, and we are pleased to see its provisions moving forward."
"Prosperity Indiana members create sustainable communities and economic opportunity for low-wealth Hoosiers," said Andy Fraizer, executive director of Prosperity Indiana. "The Solar Uniting Neighbors program is a catalyst for economic freedom by converting the energy of the sun into household and organizational cost savings. It was gratifying for our team to partner with Duke Energy and consumer groups to make these grant investments and impact lives."
Projects receiving the grants include:
Area IV Agency on Aging and Community Action Program, low-income client home in Dayton, $15,809
Community Action Program, low-income client home in Franklin, $12,100
Community Action Program, low-income client home in Princeton, $12,000
Community Action Program of Evansville, three rental homes for low-income residents in Oakland City, $22,900
Community Action Program of Evansville, Head Start building and apartment complex in Owensville, $20,230
Community Action Program of Evansville, Head Start classroom and office building in Princeton, $41,393
Crawford County Family Health, Marengo, $38,050
Harrison County Community Services, Corydon, $50,000
LIFEDesigns, group home for residents with disabilities in Bloomington, $14,600
Lincoln-Central Neighborhood Family Center, Columbus, $7,570
Pace Community Action Agency, Vincennes, $79,401
Pathfinder Services, group homes in Wabash, $32,538
Thrive Alliance's Armory, apartments for low-income elderly residents in Columbus, $53,406
All projects will be completed by the end of the year.
Duke Energy
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
Prosperity Indiana
Founded in 1986, Prosperity Indiana is a statewide membership organization that supports a network of organizations that builds vital communities and resilient families. We advocate for public policies and assist the network in developing comprehensive solutions that engage local leadership to generate private and public investment.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/2/201710/31/2017 - Duke Energy plans solar, energy storage projects to advance reliability, cleaner energy for Indiana
Duke Energy plans solar, energy storage projects to advance reliability, cleaner energy for Indiana
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
PLAINFIELD, Ind., Oct. 31, 2017 /PRNewswire/ -- As part of a commitment to advance cleaner energy for its customers, Duke Energy is planning to install battery storage equipment and solar panels that will operate as a microgrid at the Indiana National Guard's Camp Atterbury training operation in Johnson County, Ind. The company will also install battery storage equipment at a substation in Nabb, Ind., in Clark County.
Plans for the projects must be approved by the Indiana Utility Regulatory Commission before work can begin. The microgrid at Camp Atterbury would be the first microgrid installed at a National Guard facility in Indiana.
"Given our recent success with the installation of a 17-megawatt solar power plant at Naval Support Activity Crane, we were eager to find another opportunity to join with the U.S. military to incorporate new technology into our grid operations," said Melody Birmingham-Byrd, Duke Energy Indiana state president. "The project at Camp Atterbury will help us gain valuable operating experience and may help determine how best to expand the new technology to other areas."
"Camp Atterbury, the Indiana National Guard and Duke Energy have worked together on several mutually beneficial projects over the years," said Col. John Silva, Camp Atterbury's commanding officer. "This proposed project will increase our strategic value and give us the ability to continue our mission-critical operations in the unlikely event of a large grid outage."
A microgrid is a self-contained power system, confined to a small geographic area that has one or more power plants, which are usually relatively small in size. It might also have some means to store energy, such as batteries. Battery storage benefits include shifting energy from lower-usage periods to higher-usage periods, as well as providing more stable grid frequency operation.
Duke Energy is a national leader in energy storage research and development, having deployed approximately 40 megawatts of energy storage capacity, representing 15 national projects demonstrating 10 different grid applications and functions and eight different battery chemistries.
At Camp Atterbury, the battery and solar panels will primarily provide grid benefits to customers in the region. In the unlikely event of a major grid failure, the microgrid could continue serving customer power demand. The storage battery has a capacity of 5 megawatts. The solar installation will generate approximately 2 megawatts.
At the Nabb, Ind., substation, a similar-size battery will be installed near the existing substation. This battery will also be used to provide grid benefits as well as back-up customer power in the event of an outage.
About Camp Atterbury
Camp Atterbury is located in Johnson County, Ind., about 4 miles west of Edinburgh. It was founded as part of the buildup of forces prior to World War II. Its mission was to train, equip, and mobilize soldiers heading to the battlefields of Europe and the Pacific. In the more than 75 years since its first General Order was published, Camp Atterbury has continued that original mission by training, equipping, and mobilizing U.S. Armed Forces of all branches.
About Duke Energy
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/31/2017Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
CHARLOTTE, N.C., Oct. 26, 2017 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.890 per share payable on Dec. 18, 2017, to shareholders of record at the close of business Nov. 17, 2017.
Duke Energy has paid a cash dividend for 91 consecutive years.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
10/26/2017Duke Energy settlement agreement paves way for smarter energy future
Source: PR Newswire
Orignial Article: https://www.prnewswire.co...
ST. PETERSBURG, Fla., Oct. 25, 2017 /PRNewswire/ -- Duke Energy Florida received approval from the Florida Public Service Commission (FPSC) today to move forward with its settlement agreement that will pave the way to a smarter energy future for Florida customers. The company also received approval for its fuel, capacity, energy conservation and environmental costs.
The settlement agreement, which was filed in August 2017, includes investments in solar energy, smart meters, grid modernization projects to enhance reliability and make the grid more resilient and secure, and optional billing programs to enhance customer choices. The agreement also includes plans to install electric vehicle charging stations and a battery storage pilot program. The company will also no longer move forward with the Levy County nuclear project and customers will not pay any further costs associated with the project. More details regarding the settlement agreement are available on our News Center.
"This settlement agreement allows us to move forward and deliver what our customers and stakeholders have told us they want from their energy provider," said Harry Sideris, Duke Energy Florida state president. "We will be able to provide cleaner, more reliable energy along with more information, allowing our customers to better manage their energy needs."
Beginning January 2018, the residential rate will be $123.88 per 1,000 kWh. This includes a reduction of $4.65 per 1,000 kWh as a settlement benefit. The portion of Duke Energy Florida's typical residential, commercial and industrial customer bills associated with the settlement will increase approximately 1 to 3 percent annually in 2019-2021; about the same as general inflation rates.
The settlement agreement was developed with representatives of various consumer groups, including the state's Office of Public Counsel, the Florida Industrial Power Users Group, the Florida Retail Federation, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate and the Southern Alliance for Clean Energy.
The agreement will take effect in January 2018 and will include investments of nearly $6 billion over the next four years while minimizing the impact on customer bills.
Based on approvals, customers' bills will reflect the following in 2018:
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ann Marie Varga
Cell: 407.399.3255
24-Hour: 800.559.3853
Twitter: @DE_AnnMarieV
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SOURCE Duke Energy
Article Date
10/25/201710/24/2017 - Keep energy vampires from sucking away your money
Keep energy vampires from sucking away your money
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 24, 2017 /PRNewswire/ -- Even when they aren't switched to the "on" position, energy vampires − TVs, laptops, cellphones, chargers and even coffee makers − are slowly draining electricity and money from your wallet.
Together, these power-sucking appliances can account for up to 20 percent of annual costs. According to the U.S. Department of Energy, consumers can save as much as 10 percent by identifying and unplugging energy vampires.
"Energy vampires can be found in every room in your house," said Kevin Bright, managing director of customer efficiency programs for Duke Energy. "Simply unplugging devices when not in use can help you better manage your energy use and monthly savings."
Here are some tips that can help take a bite out of your bill:
Duke Energy also offers free in-home energy assessments through its Home Energy House Call program. The assessment is designed to help customers learn more about their energy use and offer specific ways to lower monthly energy bills. A trained energy specialist inspects the home, at the convenience of the customer, checks for air leaks and examines insulation levels as well as appliances and the heating/cooling system. Duke Energy customers can sign up at duke-energy.com.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Grace Rountree
Office: 919.546.2557 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/keep-energy-vampires-from-sucking-away-your-money-300542132.html
SOURCE Duke Energy
Article Date
10/24/201710/18/2017 - Duke Energy linemen rope in 18 awards at world rodeo competition with apprentice winning best in world
Duke Energy linemen rope in 18 awards at world rodeo competition with apprentice winning best in world
Source: PR Newswire
CHARLOTTE, N.C., Oct. 18, 2017 /PRNewswire/ -- Duke Energy linemen roped in 18 awards at the International Lineman's Rodeo Oct. 14 in Bonner Springs, Kan., with Bryan Minikel, a lineman apprentice from Cary, N.C., taking home the world champion apprentice title.
Minikel also earned the top apprentice title in the investor-owned utility division and won first place in the apprentice written test.
"This award is a tremendous blessing in my life," said Minikel, who has been a Duke Energy employee for nearly four years. "I worked hard to prepare for the competition, but I couldn't have earned the award on my own. Being a lineman is truly a brotherhood and you look out for each other – everyone wants you to succeed and I had a lot of support behind me."
Tyler Manick, a lineman apprentice from Old Fort, N.C., placed second in the world, second in the apprentice written test and second in the investor-owned utility division.
Trey Grissom, a lineman apprentice from Roxboro, N.C., placed fifth in the world and fourth in the investor-owned utility division.
Other lineman apprentice award winners include George Gripshover from Burlington, Ky., placing fifth in the investor-owned utility division, third in the written test and third in mystery event one and Miles Bell based in Spindale, N.C., placing fifth in the pole speed climb.
A lineman journeyman team based in New Bern, N.C., placed fourth in the world. The team consists of Dan King, Brent Whitford and Stephen Cox. The team also placed second in the investor-owned utility division and fourth in the simulated hurt-man rescue event.
A journeyman team based in western North Carolina placed fourth in the investor-owned utility division. The team is comprised of Joey Wilson of Franklin, N.C., Luke Leatherman of Arden, N.C., and Jeff Porter of Cullowhee, N.C.
Two teams took home awards in the second mystery event announced the day before competition designed to simulate unexpected challenges on a job. Mark Perkinson, Josh Greguire and Jeramy Wilson of eastern North Carolina took home first place with Sandy Barnhill, Keith Griffin and Jay Tipton, all of the Asheville, N.C. area, taking home fifth place.
All Duke Energy participants at the rodeo earned their spots by competing in regional Duke Energy competitions in 2016 and 2017.
An apprentice is a line worker with less than four years of utility experience, and a rodeo journeyman has greater than four years of utility experience.
Linemen were tested on simulated hurt-man rescues, equipment repair and pole climbs while being judged on speed, agility, technique and safety procedures at the International Lineman's Rodeo competition.
The best lineworkers at Duke Energy and its legacy companies have showcased their talents at the International Lineman's Rodeo for more than 20 years. Duke Energy lineworkers took home 12 awards in 2015 and 11 in 2014.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/18/201710/17/2017 - Duke Energy sets the stage with over $500,000 in grants to support the North Carolina arts community
Duke Energy sets the stage with over $500,000 in grants to support the North Carolina arts community
Source: PR Newswire
CHARLOTTE, N.C., Oct. 17, 2017 /PRNewswire/ -- A dozen cultural and arts nonprofit organizations in North Carolina are receiving $524,500 in grants from the Duke Energy Foundation to support arts appreciation and educational programs that foster community vitality.
"Arts and cultural programs unite the diverse communities we're fortunate to serve," said David Fountain, Duke Energy's North Carolina president. "Encouraging an appreciation for the arts and culture is a passion of Duke Energy, and we're proud of our partners who are doing just that through various initiatives across the state."
The grants, from the Duke Energy Foundation, will help enhance arts, music, cultural and professional development programs, allowing the organizations to continue strengthening and expanding their work within our communities. Piedmont Natural Gas, whose grant-making process is now part of the Duke Energy Foundation, contributed to several of the grants to help support the vibrancy of North Carolina.
"Duke Energy has long understood the value of community involvement in the arts," said Eleanor Oakley, president and CEO of the United Arts Council of Raleigh and Wake County. "Their support has allowed us to continue our large Artists in the Schools program in Wake County schools, as well as institute a Wheels on the Bus fund for our low-income schools, ensuring that their students may travel to an arts and cultural facility at least once a year. We are proud to work with the Foundation on these efforts."
The following organizations are receiving grants to strengthen arts and cultural initiatives in North Carolina.
Blumenthal Performing Arts Center – $15,000 for the Duke Energy Ticket Scholarship Fund, which provides tickets to underserved youth and families in partnership with other Charlotte-area nonprofit organizations.
Carolina Ballet – $150,000 for the 2017-2018 season and Arts Access Initiative, which allows the ballet company to offer affordable performances and continue providing complimentary and discounted tickets to people who wouldn't otherwise be able to attend performances.
Central Park NC – $10,000 to expand creative and entrepreneurial arts and culture programming to reach additional students and lifelong learners.
Durham Arts Council – $15,000 for the Creating Community through the Arts initiative, which supports classes, artist residencies and exhibits. The program serves more than 900,000 participants, provides more than 1,000 jobs and has a collective economic impact exceeding $125 million annually.
Mint Museum – $14,000 to support cultural outreach programming in Charlotte. Bilingual Stories & Music on Wheels and Masters Art Classes on Wheels offer unique early childhood learning opportunities at no or low cost, with enhanced accessibility, addressing transportation and/or financial barriers.
North Carolina Museum of History Foundation – $20,000 to support field trips to the museum for public school students in the central and eastern parts of the state.
North Carolina Opera – $50,000 to support the upcoming season, Opera in the Schools programs and adult engagement projects.
North Carolina Symphony – $150,000 for the Statewide Music Education Sustainer, which provides music education to more than 60,000 schoolchildren annually in 31 counties, many of which are rural and under-resourced areas with limited access to the arts.
North Carolina Theatre – $30,000 for Program Excellence and project support featuring the mainstage show A Night with Janis Joplin. The program impacts more than 5,000 young people throughout Durham, Orange and Wake counties with a combination of training, performances and education/outreach activities.
United Arts Council of Greater Greensboro – $27,000 for the 2017 Community Arts Education and Access Program to improve access to the arts, increase arts education initiatives and fuel economic development in local communities. In addition, grants will be used for artistic programming to present the National Folk Festival, which attracts a diverse audience to the Greensboro area.
United Arts Council of Raleigh and Wake County – $18,500 for the Artists in Schools Program, which places professional teaching artists in Wake County schools for curriculum-based performances, residencies and workshops. With a goal to expose as many K-12 students as possible to the arts, this project involves 142 schools, reaching 152,000 students annually.
Winston-Salem Arts Council – $25,000 to help regional artists with projects that support professional growth and ensure the arts serve a diverse and wide-reaching population.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The Foundation provides more than $30 million annually in charitable gifts. The Foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Grace Rountree
Office: 919.546.2557 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-sets-the-stage-with-over-500000-in-grants-to-support-the-north-carolina-arts-community-300537329.html
SOURCE Duke Energy
Article Date
10/17/2017Federal Energy Regulatory Commission approves Atlantic Coast Pipeline
Source: PR Newswire
CHARLOTTE, N.C., Oct. 13, 2017 /PRNewswire/ -- The following is a statement by Lynn Good, Duke Energy's Chairman, President and Chief Executive Officer, regarding the Federal Energy Regulatory Commission's approval today of a Certificate of Public Convenience and Necessity for the Atlantic Coast Pipeline:
"FERC's approval is an important milestone and a critical step forward for the Atlantic Coast Pipeline to deliver the benefits of affordable, clean natural gas and affirms the project will be built with minimal impacts to the environment. North Carolina's population is growing, the economy is diversifying and many communities along the route are trying to attract new energy-intensive industries. Natural gas from the pipeline will increase consumer savings, enhance reliability, enable more renewable energy and provide a powerful engine for statewide economic development and job growth. It also supports our plan to produce cleaner energy through newer, highly-efficient natural gas plants and allows more capacity for Piedmont Natural Gas to serve new homes and businesses.
"We commend the FERC commissioners and staff for their exhaustive and careful review of this project to ensure the project is built in a way that protects public safety and the environment. All three commissioners acknowledge the need for more natural gas, even the lone dissenting commissioner who states that more than 90 percent of the pipeline's capacity is subscribed.
"We will continue to work with the appropriate agencies to secure the remaining permits and look forward to breaking ground later this year."
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Neil Nissan
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/federal-energy-regulatory-commission-approves-atlantic-coast-pipeline-300536755.html
SOURCE Duke Energy
Article Date
10/14/2017Summer-like temperatures continue across the Carolinas; customers can follow these energy-efficiency tips to save on their energy bill
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 11, 2017 /PRNewswire/ -- With near record-high temperatures across the Carolinas, Duke Energy is seeing energy usage climb to summer levels.
"October is generally a low-usage month for customers who need little to no air conditioning or heating to stay comfortable," said Nelson Peeler, Duke Energy senior vice president and chief transmission officer. "With the overall usage we are seeing, we know cooling systems across the region are running throughout the day and into the evening, and that's going to affect power bills come November."
Duke Energy has sufficient resources to meet customers' energy needs through this unusual fall heat wave, but offers the following tips to help manage energy costs.
Energy efficiency tips to combat the heat
Monitoring your energy use
Duke Energy offers ways to monitor your energy use to help customers avoid billing surprises, including:
For more information, tips, programs and ways to save money, visit duke-energy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/summer-like-temperatures-continue-across-the-carolinas-customers-can-follow-these-energy-efficiency-tips-to-save-on-their-energy-bill-300535048.html
SOURCE Duke Energy
Article Date
10/11/201785 Duke Energy linemen to compete at world competition
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 9, 2017 /PRNewswire/ -- Eighty-five Duke Energy line technicians will compete in the International Lineman's Rodeo on Oct. 14 in Bonner Springs, Kan.
Now in its 34th year, the rodeo attracts the best linemen from around the world competing in events that test job-related skills such as simulated hurt-man rescues, equipment repair and pole climbs. Competitors are judged on speed, agility, technique and safety procedures.
"Rodeo competitions help our linemen refine their skills and work safer, faster and more effective," said Michael Lewis, senior vice president and chief distribution officer. "The world competition is once a year where our linemen can showcase their skills and technique and see how they stack up against their peers. I am extremely proud of our linemen who are competing, and their Duke Energy family will be cheering them on."
All Duke Energy participants at the rodeo earned their spots by competing in regional Duke Energy competitions in 2016 and 2017. Competitors who earned a spot in 2016 were unable to participate due to Hurricane Matthew power restoration efforts.
Line technicians representing Duke Energy's six-state service area, including North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, will participate in the apprentice, journeyman and senior team divisions.
An apprentice is a line worker with less than four years of utility experience. A rodeo journeyman has greater than four years of utility experience, and a senior-journeyman must be over 50 years old.
The rodeo competition begins Oct. 14 at 7:30 a.m. Central Daylight Time with individual competitors and teams vying to earn the top honors.
The best line workers at Duke Energy and its legacy companies have showcased their talents at the International Lineman's Rodeo for more than 20 years. Duke Energy line workers took home 12 awards in 2015 at the International Lineman's Rodeo and 11 in 2014.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/85-duke-energy-linemen-to-compete-at-world-competition-300533094.html
SOURCE Duke Energy
Article Date
10/9/201710/5/2017 - Duke Energy awards more than $300,000 to 10 urban redevelopment projects in Greater Cincinnati
Duke Energy awards more than $300,000 to 10 urban redevelopment projects in Greater Cincinnati
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Oct. 5, 2017 /PRNewswire/ -- Greater Cincinnati's urban cores – and the lives of their residents – will continue to improve and benefit from transformational redevelopment projects thanks to Duke Energy's Urban Revitalization grants. Earlier today, the company announced 10 projects that will receive $307,352 in catalyst grants to support urban redevelopment and stimulate growth, job creation and further investments in our local communities.
"Our urban cores are the hearts of our communities," said Jim Henning, president of Duke Energy Ohio/Kentucky. "Today, they present opportunities for positive change and prosperity. These important collaborations will create jobs, spur additional commercial activity, and serve as hubs for these communities and their residents for generations to come."
Since 2011, Duke Energy has provided $1.88 million in Urban Revitalization funding to 58 projects in Southwest Ohio and Northern Kentucky. Projects include Braxton Brewing Company, Madcap Puppet Theater, Carabello Coffee, Cincinnati State's Middletown campus and Gateway Community & Technical College's Urban Metro campus. Read more about how past Urban Revitalization grants have spurred economic development in Greater Cincinnati.
Today's grant announcement was held at Hotel Covington, which received an Urban Revitalization grant in 2013. The event featured each grant recipient, as well as Cincinnati Mayor John Cranley, Covington Mayor Joe Meyer, Hotel Covington developer Guy van Rooyen, Jim Henning and Duke Energy Executive Vice President Julie Janson. Janson previously served as president of Duke Energy Ohio/Kentucky from 2008 to 2012.
Here are summaries of the projects that were awarded grants today.
Ohio
Kentucky
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
513.287.4152 | @DE_LeeF | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-awards-more-than-300000-to-10-urban-redevelopment-projects-in-greater-cincinnati-300532030.html
SOURCE Duke Energy
Article Date
10/5/201710/4/2017 - Duke Energy helps power site readiness in Bartholomew, Crawford, Dearborn and Hamilton counties in Indiana
Duke Energy helps power site readiness in Bartholomew, Crawford, Dearborn and Hamilton counties in Indiana
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., Oct. 4, 2017 /PRNewswire/ -- Local economic development officials in four communities in the Duke Energy Indiana service territory are poring over a site consultant's recommendations for making possible business and industry locations look more attractive to site selectors.
The communities and their respective sites were selected earlier this year to participate in Duke Energy's Site Readiness Program, which identifies, evaluates and improves sites in the company's service territory for potential industrial development.
The four locations include:
"The competitive process of selecting potential local and regional sites for large business and industry is fierce," said Erin Schneider, director of economic development for Duke Energy Indiana. "We are committed to giving our communities every possible advantage as they work to attract jobs and economic prosperity."
Nationally recognized site consulting firm McCallum Sweeney Consulting has evaluated all four locations and has made customized recommendations to officials in each of the four communities. Banning Engineering of Plainfield is producing conceptual drawings and site plans. The recommendations were presented locally on Oct. 3 and 4.
Following each presentation, local economic development officials received a check for $10,000 from Duke Energy to help implement the recommendations and market the site.
After each site's state of readiness has advanced, Duke Energy's economic and business recruitment teams will strategically market those sites nationwide to companies looking to expand or relocate their operations.
Ideal properties for Duke Energy's Site Readiness Program are typically 40 acres or larger, served by the utility, or a vacant industrial building at least 20,000 square feet identified to support renewed industrial growth and sustainable development in a community.
Duke Energy Indiana's overall economic development program has been consistently named by Site Selection Magazine as one of the nation's "Top 10 Utility Economic Development Programs." Since 2008, the company has participated in the creation of nearly 20,000 jobs with a total capital investment of approximately $4.5 billion.
For more information about Duke Energy Indiana's economic development programs, visit www.locationindiana.com.
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-helps-power-site-readiness-in-bartholomew-crawford-dearborn-and-hamilton-counties-in-indiana-300531145.html
SOURCE Duke Energy
Article Date
10/4/2017Duke Energy to announce third quarter 2017 financial results on Nov. 3
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 2, 2017 /PRNewswire/ -- Duke Energy will announce the release of its third quarter 2017 financial results at 7 a.m. ET on Friday, Nov. 3, in a news release to be posted on the company's website at www.duke-energy.com/investors.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the third-quarter 2017 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (www.duke-energy.com/investors) of Duke Energy's website or by dialing 888-339-3513 in the United States or 719-457-2683 outside the United States. The confirmation code is 8614622. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 13, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 8614622. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-to-announce-third-quarter-2017-financial-results-on-nov-3-300529111.html
SOURCE Duke Energy
Article Date
10/2/20179/28/2017 - Piedmont Natural Gas urges seasonal customers in Tennessee to call now to restart service
Piedmont Natural Gas urges seasonal customers in Tennessee to call now to restart service
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
NASHVILLE, Tenn., Sept. 28, 2017 /PRNewswire/ -- Piedmont Natural Gas today issued an important message to the thousands of customers who turned off their natural gas service for the summer because they use natural gas only for heating.
"Customers who turned off their service for the summer but plan on having it turned on again when it gets cold should call us now to avoid any potential delays in service," said LaQuisha Parks, general manager of regional customer care operations for Piedmont Natural Gas.
This is because when the cold weather hits, Piedmont is inundated with calls from customers who want their service turned back on. Parks says Piedmont works hard each year to service each customer quickly, but customers should know they could save money and avoid all inconvenience if they would consider leaving their service turned on year-round.
"Keeping your service on year-round, even if you don't use natural gas during the summer months, is perfectly safe, costs less and ensures you will have heat when the first cold snap of fall arrives," said Parks. "It's just the smart thing to do all around."
That's because customers who disconnect their natural gas service in the spring have to pay a reconnection fee in the fall when they call Piedmont to have their service turned back on.
For example, Piedmont says residential customers in Tennessee who turn their service off in the spring will face a reconnection fee of $85.00 when they call to restart their service in the fall. But the cost for most of these customers to leave their natural gas service turned on during the five months from May to September would be about $67.25 or $13.45 per month. For these customers, leaving their natural gas service on during the summer months will cost about $18 less than if they turn it off for the summer.
Customers can call Piedmont at 800.752.7504 to schedule a service appointment.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
704.731.4108
jennifer.sharpe@duke-energy.com
View original content with multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-urges-seasonal-customers-in-tennessee-to-call-now-to-restart-service-300527750.html
SOURCE Duke Energy
Article Date
9/28/20179/28/2017 - Piedmont Natural Gas urges seasonal customers in South Carolina to call now to restart service
Piedmont Natural Gas urges seasonal customers in South Carolina to call now to restart service
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., Sept. 28, 2017 /PRNewswire/ -- Piedmont Natural Gas today issued an important message to the thousands of customers who turned off their natural gas service for the summer because they use natural gas only for heating.
"Customers who turned off their service for the summer but plan on having it turned on again when it gets cold should call us now to avoid any potential delays in service," said LaQuisha Parks, general manager of regional customer care operations for Piedmont Natural Gas.
This is because when the cold weather hits, Piedmont is inundated with calls from customers who want their service turned back on. Parks says Piedmont works hard each year to service each customer quickly, but customers should know they could save money and avoid all inconvenience if they would consider leaving their service turned on year-round.
"Keeping your service on year-round, even if you don't use natural gas during the summer months, is perfectly safe, costs less and ensures you will have heat when the first cold snap of fall arrives," said Parks. "It's just the smart thing to do all around."
That's because customers who disconnect their natural gas service in the spring have to pay a reconnection fee in the fall when they call Piedmont to have their service turned back on.
For example, Piedmont says residential customers in South Carolina who turn their service off in the spring will face a reconnection fee of $60.00 when they call to restart their service in the fall. But the cost for most of these customers to leave their natural gas service turned on during the five months from May to September would be about $40.00 or $8.00 per month. For these customers, leaving their natural gas service on during the summer months will cost about $20 less than if they turn it off for the summer.
Customers can call Piedmont at 800.752.7504 to schedule a service appointment.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
704.731.4108
jennifer.sharpe@duke-energy.com
View original content with multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-urges-seasonal-customers-in-south-carolina-to-call-now-to-restart-service-300527740.html
SOURCE Duke Energy
Article Date
9/28/20179/28/2017 - Piedmont Natural Gas urges seasonal customers in North Carolina to call now to restart service
Piedmont Natural Gas urges seasonal customers in North Carolina to call now to restart service
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 28, 2017 /PRNewswire/ -- Piedmont Natural Gas today issued an important message to the thousands of customers who turned off their natural gas service for the summer because they use natural gas only for heating.
"Customers who turned off their service for the summer but plan on having it turned on again when it gets cold should call us now to avoid any potential delays in service," said LaQuisha Parks, general manager of regional customer care operations for Piedmont Natural Gas.
This is because when the cold weather hits, Piedmont is inundated with calls from customers who want their service turned back on. Parks says Piedmont works hard each year to service each customer quickly, but customers should know they could save money and avoid all inconvenience if they would consider leaving their service turned on year-round.
"Keeping your service on year-round, even if you don't use natural gas during the summer months, is perfectly safe, costs less and ensures you will have heat when the first cold snap of fall arrives," said Parks. "It's just the smart thing to do all around."
That's because customers who disconnect their natural gas service in the spring have to pay a reconnection fee in the fall when they call Piedmont to have their service turned back on.
For example, Piedmont says residential customers in North Carolina who turn their service off in the spring will face a reconnection fee of $90.95 when they call to restart their service in the fall. But the cost for most of these customers to leave their natural gas service turned on during the five months from May to September would be about $53.50, or $10.70 per month. For these customers, leaving their natural gas service on during the summer months will cost nearly $38 less than if they turn it off for the summer.
Customers can call Piedmont at 800.752.7504 to schedule a service appointment.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
704.731.4108
jennifer.sharpe@duke-energy.com
View original content with multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-urges-seasonal-customers-in-north-carolina-to-call-now-to-restart-service-300527732.html
SOURCE Duke Energy
Article Date
9/28/2017Duke Energy Foundation increases Hurricane Irma relief contributions to $1 million
Source: PR Newswire
ST. PETERSBURG, Fla., Sept. 28, 2017 /PRNewswire/ -- To assist its communities, customers and neighbors devastated by Hurricane Irma, Duke Energy today increased its contribution to relief agencies to $1 million.
The company announced a donation of $750,000 to assist organizations and agencies that provide services during disaster relief; adding to its $250,000 donation on Sept. 11 to the Volunteer Florida Foundation – Florida Disaster Fund, the state's official private fund established to assist Florida communities with response and recovery activities.
"We are in this together," said Harry Sideris, Duke Energy Florida state president. "During and after Hurricane Irma, our customers across the state faced economic hardships through lost wages, home displacement and widespread devastation. As we begin to recover, these additional dollars will support communities and individual families in need."
The funds will be distributed in the following ways to assist communities through state, regional and local organizations:
"Hurricane Irma ripped through our state, leaving many with their lives in shambles," said Jeff Hayward, President and CEO, Heart of Florida United Way. "We've heard the desperation in the voices of the 15,250 callers we've had reach out to the 2-1-1 Crisis Line during and following the storm. But we've also heard the relief and gratitude expressed as a result of a little help. We are thankful for Duke Energy's contribution and commitment to providing continued support to our communities throughout Florida."
The Duke Energy Foundation is also matching employee donations to hurricane relief efforts, resulting in a company match of more than $108,000 for hurricanes Harvey and Irma for a total donation of $216,000.
For additional information on Duke Energy's community giving programs, visit duke-energy.com/foundation.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The Foundation provides more than $30 million annually in charitable gifts. The Foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592
24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-foundation-increases-hurricane-irma-relief-contributions-to-1-million-300527723.html
SOURCE Duke Energy
Article Date
9/28/2017A baker's dozen: Duke Energy economic development honored by Site Selection magazine
Source: PR Newswire
CHARLOTTE, N.C., Sept. 26, 2017 /PRNewswire/ -- For the 13th consecutive year, Duke Energy has been named to Site Selection magazine's annual list of "Top Utilities in Economic Development."
In the magazine's September edition, it credits Duke Energy's economic development team and its successful collaboration with state and local partners for delivering more than $4 billion in capital investments and more than 14,000 new jobs in 2016. Duke Energy has been featured on the list every year since 2005.
This year, the magazine also recognizes the efforts of Duke Energy and other utilities to build smarter energy infrastructure and the beneficial impacts it has on job recruitment and retention.
"We are investing $25 billion over the next 10 years to create a smarter, more modern grid that delivers the services our customers expect," said Stu Heishman, Duke Energy's vice president of economic development and business recruitment. "Today, the grid stands as a one-way road. In the future, it must become a multilane highway, sending energy and information in both directions."
In 2016, the company's economic development team focus areas included the acquisition of Piedmont Natural Gas, which brought new service territory in the Carolinas and Tennessee; expanding the business recruitment team in key cities across the United States; and forming an electrification team to lead Duke Energy's efforts to promote wider adoption of new and emerging grid-enabled technologies, including electric vehicle charging infrastructure.
Duke Energy's approach to economic development is unique in the utility industry.
"Economic development is a team sport and we are a key position player – we work with many allies in different capacities throughout the economic development process to achieve success," Heishman said. "Our team is committed to the mission of adding capital investment and jobs in the communities across our now seven-state service area."
To read the full article, go to siteselection.com/issues/2017/sep/top-utilities-decision-enhancers.cfm.
For more information about Duke Energy's economic development programs, visit locationdukeenergy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/a-bakers-dozen-duke-energy-economic-development-honored-by-site-selection-magazine-300525921.html
SOURCE Duke Energy
Article Date
9/26/2017Duke Energy plans North Carolina's largest battery storage projects as part of Western Carolinas Modernization Plan
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 21, 2017 /PRNewswire/ -- As part of its continued commitment to building a smarter energy future, Duke Energy today announced plans to install North Carolina's two largest battery energy storage systems – a $30 million investment as part of the company's Western Carolinas Modernization Plan.
For many months, Duke Energy has been working on future energy needs in the region with stakeholders, including members of the Energy Innovation Task Force (EITF). The EITF is an ongoing collaborative effort with the city of Asheville and Buncombe County. One focus area of the group has been to take advantage of emerging technologies like energy storage to better serve the region.
"Duke Energy has experience with many battery storage projects around the nation," said Robert Sipes, vice president of Western Carolinas Modernization for Duke Energy. "Western North Carolina is an ideal spot to use this technology to serve remote areas, or where extra resources are needed to help the existing energy infrastructure."
The two sites identified are the first of a larger plan Duke Energy has to deploy energy storage for the region. The two projects are viewed as positive solutions by local stakeholders due to their relatively small footprint, making little noise and producing no emissions to the environment.
In the city of Asheville, a 9-megawatt lithium-ion battery system will be placed at a Duke Energy substation in the Rock Hill community – near Sweeten Creek Road. The battery will primarily be used to help the electric system operate more efficiently. It will provide energy support to the electric system, including frequency regulation and other grid support services.
In Madison County in the town of Hot Springs, the company is planning a 4-megawatt lithium-ion battery system that will help improve electric reliability for the town, along with providing services to the overall electric system. The company is also considering a solar facility in the town to work in conjunction with the battery system.
Duke Energy's Western Carolinas Modernization Plan aims to meet the region's power demand by balancing public input, environmental impacts and the need to provide customers with safe, reliable and affordable energy.
The plan included a commitment from Duke Energy to deploy at least 5 megawatts of energy storage for the region. But the company is planning more.
"These initial utility-scale energy storage projects represent an integral first step in upgrading and modernizing our grid infrastructure," said EITF Technology Working Group co-chair Ned Ryan Doyle. "Investments in energy storage are a key component to a more reliable and resilient grid. It provides a foundation for the expansion of true clean energy sources."
Further details on the projects will be filed with the North Carolina Utilities Commission in early 2018. Both projects are expected to be online in 2019.
Duke Energy has a smaller battery installation in the region. In Haywood County, the company has a 95-kilowatt-hour zinc-air battery and 10-kilowatt solar installation serving a communications tower on Mount Sterling in the Smoky Mountains National Park. The project went online earlier this year.
A previously announced part of the Western Carolinas Modernization Plan involves Duke Energy closing a half-century-old, coal-fired power plant in Asheville in 2019 – and replacing it with a cleaner, natural gas-fired power plant, consisting of two generating units.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-plans-north-carolinas-largest-battery-storage-projects-as-part-of-western-carolinas-modernization-plan-300523525.html
SOURCE Duke Energy
Article Date
9/21/2017Duke Energy Florida announces 99 percent of customers' power restored in 21 counties; provides revised restoration times for remainder
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 17, 2017 /PRNewswire/ -- Tonight, more than 99 percent of Irma-related outages will be restored in the following counties: Bay, Brevard, Columbia, Dixie, Flagler, Franklin, Gilchrist, Gulf, Hamilton, Hillsborough, Jefferson, Lafayette, Leon, Madison, Orange (excluding the northern Orange and Lake County border), Osceola, Pasco, Pinellas, Suwannee, Taylor and Wakulla. We will continue to work on isolated and scattered outages until all customers are restored.
Duke Energy today said its automated outage management system (OMS) was returning to service, enabling more accurate restoration information and assisting in speeding up final restoration work for outages that exist after nearly 1.3 million customers lost power from Hurricane Irma.
"To the many people who have given a 'shout out' to our lineman and expressed their appreciation, we thank you," said Harry Sideris, Duke Energy Florida state president. "At the same time, we deeply apologize for not meeting our customers' expectations. They expect and deserve better from us. Our customers are angry and frustrated that we could not provide them better information. I want to reassure them that we have not stopped and will not stop until our customers are restored."
Losing the automated system in the aftermath of Irma forced the company to manually track outages and estimate restoration times. Once the system is reconciled, the company will be able to provide customers with more detailed information.
With the transition back to the normal outage management system, the outage numbers may look different as the two systems are reconciled. Duke Energy has restored nearly 1.6 million outages and currently has roughly 155,800 outages system wide.
Crews have been out in the field working to restore power to remaining customers and, as a result of the damage they're seeing and the extent of the repairs required, estimated times of restoration have been revised for some areas. We expect to restore essentially all customers as follows:
In some cases, service may be delayed in areas impacted by tornadoes, heavy tree and debris damage, and where a meter or other customer equipment was damaged and requires repair and an inspection.
As the OMS system is restored to full functionality, customers may receive calls from Duke Energy about their outage status as system data is updated and verified.
If you are still without power, please contact us by:
For the latest outage information and other company updates, visit news.duke-energy.com/irma.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content:http://www.prnewswire.com/news-releases/duke-energy-florida-announces-99-percent-of-customers-power-restored-in-21-counties-provides-revised-restoration-times-for-remainder-300520949.html
SOURCE Duke Energy
Article Date
9/18/2017Power restoration times updated for Florida counties; Ninety-six percent of Pinellas, Pasco Counties Restored
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 15, 2017 /PRNewswire/ -- Duke Energy has restored power to more than 1.2 million customers in Florida in four days and continues to restore the remaining 200,000 outages.
Extensive damage and recent inclement weather has prompted the company to modify restoration times for its Florida service area.
"We are in the home stretch of restoring all our customers," said Harry Sideris, Duke Energy Florida president. "Given the scale and scope of the extensive repairs, we need just a little more time in some areas to finish the job. We are so grateful for our customers' patience and perseverance as we work through this historic restoration."
Times of restoration
Currently, the company expects to complete power restoration to all customers that can receive power in the following areas:
We will continue to work on isolated and scattered outages until all customers are restored.
For latest outage information and other company updates, visit news.duke-energy.com/irma.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content:http://www.prnewswire.com/news-releases/power-restoration-times-updated-for-florida-counties-ninety-six-percent-of-pinellas-pasco-counties-restored-300520773.html
SOURCE Duke Energy
Article Date
9/16/2017Duke Energy suspends late payment charges, estimated bills and disconnections during Florida storm restoration
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 15, 2017 /PRNewswire/ -- Duke Energy today announced that it is suspending late payment charges and estimated bills for its 1.8 million Florida customers as it continues to restore power in the state.
The company continues its suspension of non-payment disconnections, which was implemented at the beginning of the storm.
"We are all-hands-on-deck with restoration, and stopping these actions gives customers one less thing to worry about. It allows Duke Energy to focus on what's important – getting the lights on and helping rebuild communities and lives," said Harry Sideris, Duke Energy Florida president.
Duke Energy has restored more than 1 million customers in the aftermath of Hurricane Irma. Less than 300,000 customers are still without power.
For latest outage information and other company updates, visit news.duke-energy.com/irma.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-suspends-late-payment-charges-estimated-bills-and-disconnections-during-florida-storm-restoration-300520573.html
SOURCE Duke Energy
Article Date
9/15/2017Duke Energy crosses the 1 million mark for customers restored in Florida
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 14, 2017 /PRNewswire/ -- In less than three days, Duke Energy has restored more than 1 million customers who lost power as a result of Hurricane Irma in Florida.
Nearly 375,000 Duke Energy customers are still without power in the state. More than 12,700 workers are working to quickly and safely restore service.
"We are making significant progress getting power back on for our customers," said Harry Sideris, Duke Energy Florida president. "We're glad to have restored 1 million customers, but we won't be happy until all customers have power. We thank all of our customers for their patience and will not stop working until the job is done."
Sideris added that over 3,000 power poles, more than 1,100 transformers and more than 1,000 miles of wire are being replaced due to storm damage.
For latest outage information and other company updates, visit news.duke-energy.com/irma.
Times of restoration
As crews respond to make repairs and restore service, specific estimated times of restoration will be updated for individual areas and customers. Currently, the company expects to complete power restoration to customers following areas:
Crews are focused on restoring the largest number of customers each day. In some cases, service may be delayed for customers where the electrical meter or other customer equipment is damaged and requires repair and inspection.
The most Duke Energy customers without power at any given time was 1.28 million customers on Monday, Sept. 11 at 3 p.m. Duke Energy serves 1.8 million customers in Florida.
The Duke Energy Foundation is donating $250,000 to the Florida Disaster Fund. The fund, administered by the Volunteer Florida Foundation, is the State of Florida's official private fund established to assist Florida's communities in times of disaster.
Outage reporting and status updates
At any time, customers without power can report their outage by:
Restoration process
After assessing damage, Duke Energy will first restore power to critical infrastructure – such as emergency centers, fire stations, hospitals, water treatment and other public safety and health facilities.
The company simultaneously will safely repair major power transmission lines, damaged substations and other large-scale electrical equipment to restore power to the largest number of customers, as quickly as possible.
Work to restore power to small pockets of customers will soon follow the large-scale repairs. For customers in the hardest-hit areas that require rebuilding the system, this may take a week or more. Read more for further details.
Duke Energy is working closely with local emergency management officials and public safety agencies in multiple Florida cities and towns, ensuring a coordinated and collaborative damage assessment and power restoration process.
Watch and download drone footage of power restoration in Florida.
Downed power lines are hazardous
Duke Energy reminds customers and the public to stay away from downed power lines that have fallen or are sagging, and to consider all power lines – and trees, limbs or anything in contact with power lines – energized and dangerous.
If a power line falls across a vehicle you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, try to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
Customers using generators
If you use a generator at home to provide power until your service is restored, please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be dangerous for crews making repairs. The excess electricity created by a generator can feed back onto the electric lines, severely injuring a line technician who might be working on a power line, believing it to be de-energized.
Read other tips for using a generator.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-crosses-the-1-million-mark-for-customers-restored-in-florida-300520150.html
SOURCE Duke Energy
Article Date
9/14/2017Duke Energy repairs 368,000 power outages in Carolinas after Irma
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 14, 2017 /PRNewswire/ -- Duke Energy has repaired 368,000 power outages in North Carolina's Piedmont and mountain areas and South Carolina's upstate region since Tropical Storm Irma's high winds pummeled both states earlier this week.
The company expects to repair the remaining 14,000 outages by late Friday night, if not sooner.
Specific restoration times for impacted areas are available at https://news.duke-energy.com/irma – or by calling 1-800-769-3766.
Remaining customers without power are located primarily in six communities where the most severe power line damage occurred: Travelers Rest, Anderson and Clemson, S.C.; and Franklin, Cherokee and Cashiers, N.C.
"Our 3,800 repair workers will continue to focus on these hard-hit areas until every last customer's lights are back on," said Tim Tripp, Duke Energy's director of storm response for the Carolinas.
"Our customers in both states have been extremely patient as our repair crews have worked long hours to restore power quickly and safely," Tripp said. "We greatly appreciate our customer's understanding and the many acts of kindness they have extended to our crews in their local communities."
Safety reminders
Strengthening power delivery in Carolinas
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round.
The company is also moving forward with billions of dollars of investments in the Carolinas that include such grid hardening efforts as moving underground some overhead services that are routinely affected by dense vegetation and retrofitting hundreds of thousands of transformers with new technology to prevent animal interference and lightning strikes.
For storm or power restoration updates, follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
For more information, visit https://news.duke-energy.com/irma.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-repairs-368000-power-outages-in-carolinas-after-irma-300520145.html
SOURCE Duke Energy
Article Date
9/14/2017Duke Energy restores power to 313,000 Carolinas customers post-Irma; expects to restore remaining 57,000 by late Friday
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 13, 2017 /PRNewswire/ -- Duke Energy has restored power to 313,000 North Carolina and South Carolina customers impacted by Tropical Storm Irma's high winds, and expects to restore electricity to the remaining 57,000 by 11 p.m. Friday, if not sooner.
Specific restoration times are available at https://news.duke-energy.com/irma.
At the height of the storm, 171,000 Duke Energy customers in the Carolinas were without power simultaneously.
More than 3,700 Duke Energy workers are making repairs to heavily damaged power lines and other electrical equipment in multiple cities, towns and rural areas in both states.
Crews are replacing more than 80 miles of damaged power lines, 300 utility poles and 125 transformers.
Hardest-hit areas are located in the North Carolina mountains (Buncombe, Jackson and Macon counties), and Upstate South Carolina (Anderson, Greenville, Pickens, Oconee and Laurens counties).
One example: In the North Carolina mountain town of Cashiers, damage in some areas was so severe that Duke Energy crews used bulldozers to cut temporary roads to access power lines and utility poles knocked down by large trees and other vegetation blown over by the storm's high winds.
"We greatly appreciate our customers' ongoing patience and graciousness as we work to restore power quickly and safely under some extremely challenging conditions," said Tim Tripp, Duke Energy's director of storm response for the Carolinas. "Our crews will continue to work long hours until every customer's lights are back on."
How to report power outages
Customers can report power outages by:
Safety reminders
Strengthening power delivery in Carolinas
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round.
The company is also moving forward with billions of dollars of investments in the Carolinas that include such grid hardening efforts as moving underground some overhead services that are routinely affected by dense vegetation and retrofitting hundreds of thousands of transformers with new technology to prevent animal interference and lightning strikes.
For storm or power restoration updates, follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
For more information, visit https://news.duke-energy.com/irma.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-restores-power-to-313000-carolinas-customers-post-irma-expects-to-restore-remaining-57000-by-late-friday-300519241.html
SOURCE Duke Energy
Article Date
9/13/2017Duke Energy tackles outages in Florida; 800,000 restored after Hurricane Irma
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 13, 2017 /PRNewswire/ -- Duke Energy has restored more than half of the customers who lost power as a result of Hurricane Irma – with 800,000 customers back on as of Wednesday afternoon.
A total of 800,000 customers have been restored, but 600,000 Duke Energy customers are still without power in the state. More than 12,000 workers are working to safely and quickly restore service. Duke Energy serves 1.8 million customers in Florida.
"Our crews are making great progress all around our territory," said Harry Sideris, Duke Energy Florida president. "We have set restoration times for our counties and are laser-focused on getting customers back on as quickly and safely as possible. We appreciate the patience our customers have shown during this stressful time."
Sideris added that over 3,000 power poles, more than 1,100 transformers and more than 1,000 miles of wire are being replaced due to storm damage.
Tuesday, the Duke Energy Foundation announced it would donate $250,000 to the Florida Disaster Fund. The fund, administered by the Volunteer Florida Foundation, is the State of Florida's official private fund established to assist Florida's communities in times of disaster.
Times of restoration
The company expects to complete power restoration to essentially all Duke Energy Florida customers in the following areas:
Our crews are focused on restoring the largest number of customers each day. Some customers will see their service restored much earlier. As crews respond to make repairs and restore service, specific estimated times of restoration will be updated for individual areas and customers. In some cases, service may be delayed for customers where the electrical meter or other customer equipment is damaged and requires repair and inspection.
Due to the heavy volume of outages and technology issues, the company's online reporting tool is not updating properly. Outage numbers on the automated system do not reflect the actual number of customers restored. Until corrected, the company will send out updated outage numbers throughout the day via its online channels.
For company updates, resources, videos and additional information, visit news.duke-energy.com/irma.
Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Outage reporting and status updates
At any time, customers without power can report their outage by:
Restoration process
After assessing damage, Duke Energy will first restore power to critical infrastructure – such as emergency centers, fire stations, hospitals, water treatment and other public safety and health facilities.
The company simultaneously will safely repair major power transmission lines, damaged substations and other large-scale electrical equipment to restore power to the largest number of customers, as quickly as possible.
Work to restore power to small pockets of customers will soon follow the large-scale repairs. For customers in the hardest-hit areas that require rebuilding the system, this may take a week or more. Read more for further details.
Duke Energy is working closely with local emergency management officials and public safety agencies in multiple Florida cities and towns, ensuring a coordinated and collaborative damage assessment and power restoration process.
Downed power lines are hazardous
Duke Energy reminds customers and the public to stay away from downed power lines that have fallen or are sagging, and to consider all power lines – and trees, limbs or anything in contact with power lines – energized and dangerous.
If a power line falls across a vehicle you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, try to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
Flooding safety tips
Customers using generators
If you use a generator at home to provide power until your service is restored, please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be dangerous for crews making repairs. The excess electricity created by a generator can feed back onto the electric lines, severely injuring a line technician who might be working on a power line, believing it to be de-energized.
Read other tips for using a generator.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-tackles-outages-in-florida-800000-restored-after-hurricane-irma-300519189.html
SOURCE Duke Energy
Article Date
9/13/2017Duke Energy restores power to 160,000 Carolinas customers in Irma's wake; expects to restore most other customers before Friday night
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 12, 2017 /PRNewswire/ -- Duke Energy expects to restore power to almost all North Carolina and South Carolina customers by late Friday, if not sooner, in the wake of Tropical Storm Irma.
The company so far has restored power to 160,000 customers in both states.
In North Carolina's Piedmont area, including Charlotte, almost all customers can expect to have power restored by 11 p.m. Thursday, though 95 percent will be restored sooner.
In the North Carolina mountains and Upstate South Carolina, customers can expect to have power restored by 11 p.m. Friday. However, 95 will be restored sooner.
Specific restoration times are available at https://news.duke-energy.com/irma.
North Carolina's hardest-hit counties include Buncombe, Jackson and Macon.
South Carolina's heavily impacted counties include Anderson, Greenville, Pickens, Oconee and Laurens.
"Hurricane Irma left behind historic and devastating destruction across the Southeast U.S., in multiple states," said Tim Tripp, Duke Energy's director of storm response for the Carolinas.
"Duke Energy has all hands on deck. We've mobilized our Carolinas crews to quickly and safely take care of our Carolinas customers, while simultaneously supporting the massive power restoration effort underway for our Florida customers."
Duke Energy's damage assessments in the Carolinas began early Tuesday – as soon as the storm passed through the region – giving the company valuable information about where to deploy repairs crews and equipment.
How to report power outages
Customers can report power outages by:
Important safety reminders
For more tips on general emergency preparedness, visit www.ready.gov.
Click here for a video demonstration and to read more about safety around power lines.
Strengthening power delivery in Carolinas
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round.
The company is also moving forward with billions of dollars of investments in the Carolinas that include such grid hardening efforts as moving underground some overhead services that are routinely affected by dense vegetation and retrofitting hundreds of thousands of transformers with new technology to prevent animal interference and lightning strikes.
For storm or power restoration updates, follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
For more information, visit https://news.duke-energy.com/irma.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content:http://www.prnewswire.com/news-releases/duke-energy-restores-power-to-160000-carolinas-customers-in-irmas-wake-expects-to-restore-most-other-customers-before-friday-night-300518429.html
SOURCE Duke Energy
Article Date
9/13/2017Duke Energy announces estimated power restoration times for Florida
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 12, 2017 /PRNewswire/ -- Duke Energy has announced power restoration times for specific areas in Florida following the damage from Hurricane Irma.
The company has restored power to more than 375,000 customers. It is currently reporting an estimated 1 million customers without power as of mid-day Tuesday. Crews will continue to work non-stop to safely and quickly restore service.
Times of restoration
The company expects to complete power restoration to essentially all Duke Energy Florida customers in the following areas:
"Our crews are focused on restoring the largest amount of customers each day and that means some customers will see their service restored much earlier," said Harry Sideris, Duke Energy Florida president. "As crews respond to make repairs and restore service, specific estimated times of restoration will be updated for individual areas and customers. We have a workforce of more than 12,000 committed to this restoration effort. We are not stopping until the job is complete."
Due to the heavy volume of outages and technology issues, the company's online reporting tool is not updating properly. Outage numbers on the automated system do not reflect actual amounts of customers restored. Until corrected, the company will send out updated outage numbers throughout the day via its online channels.
For company updates, resources, videos and additional information, visit news.duke-energy.com/irma.
Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Outage reporting and status updates
At any time, customers without power can report their outage by:
Restoration process
After assessing damage, Duke Energy will first restore power to critical infrastructure – such as emergency centers, fire stations, hospitals, water treatment and other public safety and health facilities.
The company simultaneously will safely repair major power transmission lines, damaged substations and other large-scale electrical equipment to restore power to the largest number of customers, as quickly as possible.
Work to restore power to small pockets of customers will soon follow the large-scale repairs. For customers in the hardest-hit areas that require rebuilding the system, this may take a week or more. Read more for further details.
Duke Energy is working closely with local emergency management officials and public safety agencies in multiple Florida cities and towns, ensuring a coordinated and collaborative damage assessment and power restoration process.
Downed power lines are hazardous
Duke Energy reminds customers and the public to stay away from downed power lines that have fallen or are sagging, and to consider all power lines – and trees, limbs or anything in contact with power lines – energized and dangerous.
If a power line falls across a vehicle you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, try to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
Flooding safety tips
Customers using generators
If you use a generator at home to provide power until your service is restored, please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be dangerous for crews making repairs. The excess electricity created by a generator can feed back onto the electric lines, severely injuring a line technician who might be working on a power line, believing it to be de-energized.
Read other tips for using a generator.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-announces-estimated-power-restoration-times-for-florida-300518205.html
SOURCE Duke Energy
Article Date
9/12/20179/11/2017 - Duke Energy ready to respond to power outages in Carolinas as Irma blows into the region
Duke Energy ready to respond to power outages in Carolinas as Irma blows into the region
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 11, 2017 /PRNewswire/ -- Duke Energy is prepared for potentially widespread power outages in western North Carolina and upstate South Carolina Monday night and into Tuesday. Wind gusts of up to 60 mph from what is now Tropical Storm Irma are expected to blow trees and large branches onto power lines in both states.
Restoration could take several days in certain areas, depending on the severity of damage to Duke Energy's electric distribution system.
"More than 4,500 storm responders, including power line workers, tree professionals, damage assessors and support personnel, are positioned across North Carolina and South Carolina, ready to quickly respond to power outages wherever they occur," said Tim Tripp, Duke Energy's director of storm response for the Carolinas.
"We'll work to safely restore power as quickly as possible – and won't stop until every customer's lights are back on," Tripp said.
How to report power outages, check on restoration progress
Customers can report power outages by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
For more information, visit www.duke-energy.com/irma.
Important safety reminders
For more tips on general emergency preparedness, visit www.ready.gov.
Click here for a video demonstration and to read more about safety around power lines.
Strengthening power delivery in the Carolinas
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round.
The company is also moving forward with billions of dollars of investments in the Carolinas that include such grid hardening efforts as moving underground some overhead services that are routinely affected by dense vegetation and retrofitting hundreds of thousands of transformers with new technology to prevent animal interference and lightning strikes.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-ready-to-respond-to-power-outages-in-carolinas-as-irma-blows-into-the-region-300517365.html
SOURCE Duke Energy
Article Date
9/11/2017Duke Energy ramps up Irma power restoration and damage assessment in Florida
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 11, 2017 /PRNewswire/ -- More than 9,000 Duke Energy workers and additional personnel are mobilized to respond to power outages and assess damage left in the aftermath of Hurricane Irma in Florida.
Duke Energy outages totaled 1.2 million in Florida, with nearly 100,000 customers restored in the early stages by mid-day Monday.
"We are surveying damaged areas and beginning to restore power today for our Florida customers," said Duke Energy Florida president Harry Sideris. "Irma hit us hard, and now it's time for us to swing back. Our crews are up to the challenging work ahead, including rebuilding where necessary. We will not stop until we get everyone back on."
Duke Energy Florida serves 1.8 million customers in the state. Outages are spread throughout Duke Energy's territory in the state. The hardest hit areas: Pinellas, Orange, Seminole, Volusia and Highlands counties.
The company strategically staged power line workers, tree professionals, damage assessors and support personnel at multiple sites in Florida and nearby Georgia in advance of the hurricane, giving repair teams rapid access to Florida's hardest-hit areas.
Damage assessments determine where the company will further deploy its workers, equipment and other resources to begin the complex job of power restoration.
For company updates, resources, videos and additional information, visit www.duke-energy.com/Irma.
Outage reporting and status updates
At any time, customers without power can report their outage by:
Going online at www.duke-energy.com
Restoration process
After assessing damage, Duke Energy will first restore power to critical infrastructure – such as emergency centers, fire stations, hospitals, water treatment and other public safety and health facilities.
The company simultaneously will safely repair major power transmission lines, damaged substations and other large-scale electrical equipment to restore power to the largest number of customers, as quickly as possible.
Work to restore power to small pockets of customers will soon follow the large-scale repairs. For customers in the hardest hit areas that require rebuilding the system, this may take a week or more. Read more for further details.
Duke Energy is working closely with local emergency management officials and public safety agencies in multiple Florida cities and towns, ensuring a coordinated and collaborative damage assessment and power restoration process.
Downed power lines dangerous
Duke Energy reminds customers and the public to stay away from downed power lines that have fallen or are sagging, and to consider all power lines – and trees, limbs or anything in contact with power lines – energized and dangerous.
If a power line falls across a vehicle you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, try to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
Flooding safety tips
Customers using generators
If you use a generator at home to provide power until your service is restored, please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be dangerous for crews making repairs. The excess electricity created by a generator can feed back onto the electric lines, severely injuring a line technician who might be working on a power line, believing it to be de-energized.
Read other tips for using a generator.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-ramps-up-irma-power-restoration-and-damage-assessment-in-florida-300517350.html
SOURCE Duke Energy Florida
Article Date
9/11/2017Piedmont Natural Gas advises customers of potential impacts from Hurricane Irma
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 11, 2017 /PRNewswire/ -- Piedmont Natural Gas today announced the activation of its Severe Weather Preparedness Plan in response to Hurricane Irma, and has issued a list of safety recommendations for customers who experience flooding or any other damage to their natural gas equipment or appliances as the result of Hurricane Irma.
"The safety of our customers, our communities and our employees is our top priority, and we're taking all necessary steps to make sure our facilities and our customers are prepared for Hurricane Irma," said Frank Yoho, executive vice president and president, natural gas business for Piedmont Natural Gas. "We know many of our customers in the Carolinas and Tennessee may be facing destruction and loss of property. Our commitment is to support them with the continued safe and reliable operation of our natural gas system."
Piedmont's Severe Weather Preparedness Plan includes ensuring the availability of additional communication links and resources, adequately fueled vehicles for use by Piedmont personnel in impacted areas, the availability of appropriate equipment in the potential impact areas, and the preparation of its facilities for potentially high winds and flood conditions.
Piedmont has released the following recommendations for customers whose natural gas equipment or appliances become damaged or submerged in flood waters:
If water has entered your home:
If your natural gas appliances are damaged by water:
If you suspect a natural gas leak (natural gas smells like rotten eggs):
Wind-related damage:
Call 811 before you dig:
Customers with immediate questions or concerns should call Piedmont Natural Gas at 800.752.7504. Additionally, customers can also visit the company's website at piedmontng.com for additional information and storm-related updates.
Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
704.731.4108 │ 24-hour: 877.348.3612
jennifer.sharpe@duke-energy.com
View original content with multimedia:http://www.prnewswire.com/news-releases/piedmont-natural-gas-advises-customers-of-potential-impacts-from-hurricane-irma-300517030.html
SOURCE Piedmont Natural Gas
Article Date
9/11/20179/10/2017 - Nearly 8,000 Duke Energy workers ready to swing into action in Florida after Irma passes
Nearly 8,000 Duke Energy workers ready to swing into action in Florida after Irma passes
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 10, 2017 /PRNewswire/ -- Nearly 8,000 Duke Energy workers and additional resources will be mobilized, equipped and ready to begin – once conditions safely permit – what is expected to be a lengthy restoration process to repair possibly more than 1 million power outages across our Florida service territory resulting from Hurricane Irma.
"We are ready to mobilize a small army of line workers, tree professionals, damage assessors and support personnel who will begin work as soon as we safely can," said Luis Ordaz, Duke Energy Florida storm director. "We expect significant power outages and restoration in some areas could take a week or longer. We will not rest until we get the lights back on for everyone."
Duke Energy Florida serves 1.8 million customers in the state.
Crews will wait to begin their work until wind speeds diminish to the point at which it is safe to operate hundreds of aerial "bucket" trucks and other equipment without endangering workers.
The restoration process
The power restoration process also involves a comprehensive damage assessment during which assessors will survey the company's massive Florida electricity distribution system to assess the damage, which is expected to be severe and widespread as a result of strong winds, downed trees, wind-blown debris and flooding.
That assessment will determine where the company will deploy its workers, equipment and other resources to begin the complex job of power restoration.
Duke Energy will first restore power to critical infrastructure – such as emergency centers, fire stations, hospitals, water treatment and other public safety and health facilities.
At the same time, the company will safely repair major power transmission lines, damaged substations and other large-scale electrical equipment to restore power to the largest number of customers, as quickly as possible.
Work to restore power to small pockets of customers will soon follow the large-scale repairs. We will not stop until all customers are restored. Read more for further details.
Duke Energy thanks community partners
A number of community partners – including fire stations, shopping centers and other facilities – have generously offered their parking lots and buildings to Duke Energy to serve as "base camps" to stage repair trucks and other equipment.
"Duke Energy greatly appreciates our community partners' willingness to assist us during the critical power restoration process" said storm director Ordaz.
Flooding safety tips
Important reminders
The following tips can help you and your family stay safe when severe weather strikes and the power goes out:
Additional resources
Outage reporting and status updates
At any time, customers without power can report their outage by:
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations
24-Hour: 800.559.3853
View original content:http://www.prnewswire.com/news-releases/nearly-8000-duke-energy-workers-ready-to-swing-into-action-in-florida-after-irma-passes-300516791.html
SOURCE Duke Energy
Article Date
9/10/20179/9/2017 - Duke Energy Florida projects power outages could exceed 1 million from approaching Hurricane Irma
Duke Energy Florida projects power outages could exceed 1 million from approaching Hurricane Irma
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 9, 2017 /PRNewswire/ -- Duke Energy Florida is projecting more than one million power outages associated with damage from Hurricane Irma as the storm nears the state.
"Based on Hurricane Irma's current track, we expect all of our Florida service area to feel the effects of this powerful storm," said Luis Ordaz, Duke Energy Florida storm director. "We will be working as quickly and safely as possible until all customers are restored. We want to thank all of our customers ahead of time for their patience."
Duke Energy is increasing the number of resources coming to Florida. It is initially mobilizing about 8,000 lineworkers, tree professionals, damage assessment and support personnel to safe locations. They will be prepared to respond to outages once it is safe to do so.
Crews left today from Duke Energy locations in the Midwest with a contingency of 1,500 workers to support our restoration efforts.
Duke Energy Florida serves 1.8 million customers in the state.
Duke Energy, through the Southeastern Electric Exchange (a mutual assistance organization), has agreements with other utilities and contract companies to ensure the necessary resources can be brought to Florida from throughout the Southeast.
Duke Energy meteorologists help the company plan and prepare for potential impacts. They continue to closely monitor the movement of Hurricane Irma.
"We are tracking the storm to determine where to place our additional resources," said Max Thompson, Duke Energy meteorologist. "The proper placement of our crews and resources can help provide a safe and rapid response to outages."
Important reminders
The following tips can help you and your family stay safe when severe weather strikes and the power goes out:
Additional resources
Outage reporting and status updates
At any time, customers without power can report their outage by:
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 813.928.7263
24-Hour: 800.559.3853
Twitter: @DE_AnaGibbs
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-florida-projects-power-outages-could-exceed-1-million-from-approaching-hurricane-irma-300516724.html
SOURCE Duke Energy
Article Date
9/9/2017Duke Energy ready in the Carolinas as Irma continues path north
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 8, 2017 /PRNewswire/ -- The forecast for Hurricane Irma continues to push westward, but this powerful storm could still change course and have severe impacts to portions of North Carolina and South Carolina. Duke Energy continues to monitor and prepare for the storm, and the company encourages customers to do so as well.
"Mother Nature often plays by her own set of rules, and that is why it is important to stay vigilant ahead of this massive storm," said Tim Tripp, Duke Energy's regional incident commander. "Our teams are ready to respond and will remain here in the Carolinas until the storm passes and restoration efforts, if outages occur, are complete. At that time, we'll begin deploying crews to Florida to assist with restoration efforts there."
Duke Energy has a detailed storm response plan. As part of the company's preparation for Hurricane Irma, line technicians and others continue to check equipment, supplies and inventories to ensure there are adequate materials to make repairs and restore power outages as quickly and safely as possible.
For more information, visit www.duke-energy.com/irma.
Managing our waterways
To proactively prepare for significant rainfall, Duke Energy is moving water and lowering lake levels on its reservoirs to increase storage capacity. Before and after Hurricane Irma passes through the Carolinas, flow releases from these reservoirs will be higher than usual:
The public can access information on current lake levels at duke-energy.com/lakes or by calling 800.829.5253.
Important reminders
The following tips can help you and your family stay safe if severe weather strikes and the power goes out:
For a "Hurricane Kit Checklist," important safety tips and more information on what to do before, during and after a storm, visit https://www.duke-energy.com/safety-and-preparedness/storm-safety.
A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
For more tips on general emergency preparedness, visit www.ready.gov.
Click here for a video demonstration and to read more about safety around power lines.
Outage reporting and status updates
At any time, customers can report power outages by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/duke-energy-ready-in-the-carolinas-as-irma-continues-path-north-300516539.html
SOURCE Duke Energy
Article Date
9/8/20179/8/2017 - Duke Energy Florida mobilizes about 7,000 workers to respond and restore electric service after Irma
Duke Energy Florida mobilizes about 7,000 workers to respond and restore electric service after Irma
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 8, 2017 /PRNewswire/ -- Duke Energy Florida is mobilizing approximately 7,000 lineworkers, tree professionals, damage assessment and support personnel to safe locations prepared to respond to outages once Hurricane Irma reaches Florida.
Assistance from across the U.S. and Canada, including company resources from the Midwest, is on the way to assist with restoration efforts. Crews and equipment will be staged close to the state of Florida on Saturday and Sunday. The staging area affords rapid response but provides enough distance to ensure the safety of our crews and resources.
Duke Energy, through the Southeastern Electric Exchange (a mutual assistance organization), has agreements with other utilities and contract companies to ensure the necessary resources can be brought to Florida from throughout the Southeast.
"Due to the tremendous size and strength of the hurricane, our No. 1 concern is the safety of our customers and crews," said Luis Ordaz, Duke Energy Florida storm director. "Hurricane Irma is a major storm capable of causing significant damage. As we prepare to respond, it's important our customers take Hurricane Irma seriously and ensure their families are safe."
In addition to making safety a priority, customers should also prepare for significant, widespread power outages. Despite extensive system improvements and rigorous tree trimming, strong winds, wind-blown debris and flooding can cause power outages. After the hurricane has passed and conditions are safe for travel, workers will be deployed immediately to make repairs and restore electric service as safely and quickly as possible.
Duke Energy meteorologists continue to monitor the movement of Hurricane Irma and are developing up-to-the-minute forecasts to help the company plan and prepare.
"We are closely watching Hurricane Irma to determine its specific impact to Florida," said Max Thompson, Duke Energy meteorologist. "Irma is one of the most powerful storms we've seen in the Atlantic since we started keeping records. While the track of the storm could still change, it is important for people who live in its potential path to make plans now and prepare their homes and families."
Duke Energy has a detailed storm response plan. As part of our preparation for Hurricane Irma, we are checking equipment, supplies and inventories to ensure we have adequate materials to make repairs and restore power outages.
Important reminders
The following tips can help you and your family stay safe when severe weather strikes and the power goes out:
Additional resources
Outage reporting and status updates
At any time, customers without power can report their outage by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 813.928.7263
24-Hour: 800.559.3853
Twitter: @DE_AnaGibbs
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SOURCE Duke Energy
Article Date
9/8/2017Duke Energy prepares for historic Hurricane Irma in the Carolinas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 7, 2017 /PRNewswire/ -- As forecasts increasingly predict that Hurricane Irma is expected to have significant impacts in North Carolina and South Carolina, Duke Energy is preparing for the storm and encouraging customers to do so as well.
"Irma is one of the most powerful storms we've seen in the Atlantic since we started keeping record," said Duke Energy lead meteorologist Steve Leyton. "While the track of the storm could still change in the coming days, it is important for people who live in its potential path to make plans now and prepare their homes and families."
Duke Energy has a detailed storm response plan. As part of the company's preparation for Hurricane Irma, line technicians and others are checking equipment, supplies and inventories to ensure there are adequate materials to make repairs and restore power outages.
For more information, visit www.duke-energy.com/irma.
Important reminders
The following tips can help you and your family stay safe if severe weather strikes and the power goes out:
For a "Hurricane Kit Checklist," important safety tips and more information on what to do before, during and after a storm, visit https://www.duke-energy.com/safety-and-preparedness/storm-safety.
A checklist serves as a helpful guide, but it's critical before, during and after a storm to follow the instructions and warnings of emergency management officials in your area.
For more tips on general emergency preparedness, visit www.ready.gov.
Click here for a video demonstration and to read more about safety around power lines.
Outage reporting and status updates
At any time, customers can report power outages by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Strengthening our system in the Carolinas
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round.
The company is also moving forward with billions of dollars of investments in the Carolinas that include such grid hardening efforts as moving underground some overhead services that are routinely affected by dense vegetation and retrofitting hundreds of thousands of transformers with new technology to prevent animal interference and lightning strikes.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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SOURCE Duke Energy
Article Date
9/7/2017Duke Energy Kentucky seeks first base rate increase in over a decade as it builds a smarter energy future for its customers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Sept. 1, 2017 /PRNewswire/ -- The need to make critical infrastructure investments in its electric generation and delivery systems has led Duke Energy Kentucky to seek its first base rate increase in 11 years for its 140,000 electric customers in the state. Through aggressive cost control, the company has managed to keep increases in its operating costs below inflation during that time period.
Duke Energy Kentucky currently serves electric customers across Boone, Kenton, Campbell, Pendleton, Grant and Gallatin counties.
The request was filed with the Kentucky Public Service Commission (KYPSC) to increase revenues by about $49 million, for an average rate increase across all customer groups of 15 percent.
"Customers have told us they want more control over their energy usage, their utility bill and tools to help them make smart energy choices to keep energy costs as low as possible," said Jim Henning, president, Duke Energy Kentucky. "We continue to make the investments needed to build that smart energy future for our customers."
If approved by the KYPSC, beginning April 1, 2018, electric rates will increase about 17.4 percent for residential customers. Commercial and industrial customers will see an average increase of around 13.7 percent (actual impacts vary by customer size and rate group).
The charge for a typical residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would increase $15.17 from $88.60 to $103.77. The average monthly bill for a residential customer will be $29 less than the national average.
Key investments include:
Improving the customer experience
Generating cleaner energy
Ensuring future capacity
Managing coal ash responsibly
Responding to major storms
For more details on the company's request to increase rates, visit duke-energy.com/KyRates.
Helping our customers
"We know the energy bill is a sizable monthly expense for many customers," Henning said. "That's why we provide programs and tools to help keep their energy costs low."
One way the company does that is by informing low-income customers on ways to save energy through the Neighborhood Energy Saver Program. The program provides energy assessments and installations of energy-saving measures at no cost to the customer. The average household participating in this program can save more than $35 per year on energy costs. Since the program's inception, over 2,850 Kentucky customers have received energy efficiency improvements from the program.
Additionally, the company's WinterCare Program has provided more than $1.8 million in assistance over the life of the program to help low-income families in Kentucky cover home energy bills, regardless of heating source.
Next steps
The PSC will issue a procedural schedule that will provide opportunities for parties to participate. The PSC will then take into account any testimony from other parties and schedule a hearing in Frankfort. The company expects this process to be complete by the end of March 2018.
People can review the testimony filed in support of the company's request at the PSC website (search using Case No. 2017-00321): psc.ky.gov/.
For more details on the company's request to increase rates, visit duke-energy.com/KyRates.
About Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
Sally Thelen: 513.287.2432
24-hour media line: 800.559.3853
@DE_SallyT
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SOURCE Duke Energy
Article Date
9/1/2017Duke Energy CEO Lynn Good to present at 2017 Barclays CEO Energy-Power Conference
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 31, 2017 /PRNewswire/ -- Lynn Good, chairman, president and CEO of Duke Energy (NYSE: DUK) will present to investors and industry analysts on Sept. 7, 2017, at the 2017 Barclays CEO Energy-Power Conference in New York, N.Y. The presentation is scheduled to begin at 9:45 a.m. E.T.
Investors and other interested parties will be able to access a live audio webcast and a copy of the presentation materials at duke-energy.com/investors. For those unable to listen to the live webcast, a replay will be available for 180 days by accessing the link listed above. A full transcript of the presentation will be posted to the company's website.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
8/31/2017Piedmont Natural Gas opens compressed natural gas refueling station in Hickory, NC
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
HICKORY, N.C., Aug. 30, 2017 /PRNewswire/ -- Piedmont Natural Gas announced today that it has added a Hickory location to its network of public compressed natural gas (CNG) refueling stations, a sign of growing demand as more companies are choosing to convert their commercial fleets to clean, affordable natural gas.
The Hickory station, located near the junction of Interstate 40 and U.S. 321, is the 11th public refueling station Piedmont has opened throughout its service territory of North Carolina, South Carolina and Tennessee. For a map that shows all of Piedmont's public CNG refueling facilities, visit piedmontng.com/vehiclesandfueling.
"Piedmont has a strong commitment to sustainable business practices and reducing our impact on the environment," said Karl Newlin, senior vice president and chief commercial officer for natural gas operations for Piedmont's parent company, Duke Energy. "As part of that commitment, we're doing our part to promote the use of natural gas vehicles by helping to build out a network of public refueling facilities."
Piedmont has converted 38 percent of its own fleet to run on CNG and expects that number to grow. Piedmont's conversion efforts have helped them earn recognition as a top utility environmental champion in a survey of utility customers nationwide.
The Hickory fueling station is open to commercial fleet vehicles and the general public. The station accepts all major fleet cards and all major credit cards, and the layout of the station allows for easy access for large trucks.
Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Stacey Perrow
Piedmont Natural Gas
704.731.4102 │ 24-hour: 877.348.3612
Stacey.perrow@duke-energy.com
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SOURCE Duke Energy
Article Date
8/30/2017Duke Energy Florida files settlement agreement for building a smarter energy future
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Aug. 29, 2017 /PRNewswire/ -- Duke Energy Florida filed a revised settlement agreement with the Florida Public Service Commission (FPSC) today that paves the way to a smarter energy future for Florida customers. The settlement agreement includes investments in solar energy, smart meters, grid modernization projects to enhance reliability, make the grid more resilient and secure, and optional billing programs to enhance customer choices. The agreement also includes plans to install electric vehicle charging stations and a battery storage pilot program. The company will also no longer move forward with building the Levy Nuclear Project and customers will not pay any further costs associated with the project.
The settlement agreement was developed with representatives of all consumer groups, including the state's Office of Public Counsel, the Florida Industrial Power Users Group, the Florida Retail Federation, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate and the Southern Alliance for Clean Energy.
"This settlement allows us to move forward to create a smarter energy future for our customers and communities," said Harry Sideris, Duke Energy state president – Florida. "It resolves the future of the Levy Nuclear Project and reinforces our commitment to building cost-effective solar in Florida. It also makes smart investments that will offer customers more information, choices and control of their energy needs while also providing greater reliability."
"We applaud Duke Energy Florida for working proactively with stakeholders to embrace smart technologies that are both good for consumers and the environment," said Dr. Stephen A. Smith executive director of the Southern Alliance for Clean Energy. "Large scale solar, electric vehicles and battery storage demonstrate that Duke is embracing technologies for the 21st century. We welcome Duke's willingness to work with stakeholders on data collection and any rate design changes impacting customer- owned demand side solar."
The agreement will take effect in January 2018 and will include investments of nearly $6 billion over the next four years while minimizing the impact on customer bills.
Major components of the revised settlement agreement include:
If the proposed changes are approved, the portion of Duke Energy Florida's typical residential, commercial and industrial customer bills associated with the settlement would increase approximately 1 to 3 percent annually in 2019-2021; about the same as general inflation rates. Typical residential rates are expected to remain at or below the national average.
"This settlement agreement shows that we're listening to our customers and key stakeholders. Our customers have told us they want electricity that is reliable, increasingly clean and more secure. They also want more value and options for their energy needs," said Sideris. "This settlement delivers on all these customer and stakeholder expectations."
New Solar Plant in Hamilton County
The company plans to begin construction of its sixth Florida solar power plant to be located in Hamilton County in early 2018. The plant will have approximately 300,000 solar panels and will be built on nearly 550 acres of land in Jasper.
The Hamilton Solar Plant will produce 74.9 MW of clean, emissions-free energy, which is enough to power more than 20,000 homes at peak production.
Public Process
Duke Energy Florida has requested for the FPSC to hold a hearing and expects to have a decision by December 2017.
For more information on how Duke Energy Florida is building a smarter energy future, visit duke-energy.com/FLFuture.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 8,800 megawatts of owned electric capacity to approximately 1.8 million customers in a 13,000-square-mile service area. With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ann Marie Varga
Cell: 407.399.3255
24-Hour: 800.559.3853
Twitter: @DE_AnnMarieV
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SOURCE Duke Energy
Article Date
8/29/2017Duke Energy Carolinas proposes rate change for building a smarter energy future
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 25, 2017 /PRNewswire/ -- Duke Energy Carolinas' recent work to modernize power plants and generate cleaner electricity, responsibly manage coal ash and improve reliability while enabling more options for customers is at the heart of its request to change customer rates.
"Through smart investments in cleaner energy plants and renewable resources, safely managing coal ash, and the grid that powers our lives and improves reliability, we are focused every day on providing customers increasing value and laying the foundation for a smarter energy future," said David Fountain, Duke Energy's North Carolina president.
Duke Energy Carolinas serves 2 million households and businesses in central and western North Carolina, including the Triad and Charlotte. Duke Energy Progress, which serves electric customers in parts of central and eastern North Carolina and in the Asheville region, filed a similar request to adjust rates June 1. Duke Energy Progress customers will not be affected by this new request.
Based on these investments, the filing with the North Carolina Utilities Commission (NCUC) requests to increase revenues by about $647 million, for an overall average rate increase across all customer groups of 13.6 percent. Since Duke Energy Carolinas' last request to adjust rates in North Carolina in 2012, this represents approximately a 2.5 percent annual increase.
The specific increase for individual customer groups would vary, depending on the rate they pay. The average rate increase from the proposed changes for residential customers would be 16.7 percent, while commercial and industrial customers would see an average increase of 10.9 percent.
If the proposal is approved by state regulators, a residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $122.68 per month, reflecting an increase of $18.72 per month. Duke Energy Carolinas has included in its request options to spread recovery of certain costs over multiple years to reduce the immediate impact on customer bills.
Duke Energy Carolinas has maintained rates below the national average, and with the proposed change, customers would continue to pay rates lower than in 1991, when adjusted for inflation.
"As our state grows, and as we think about the future energy infrastructure required to serve our customers, a smarter grid will facilitate cleaner energy sources and provide customers the tools they need to make more informed energy decisions," said Fountain. "We are committed to smart investments that balance the energy needs of our customers with competitive rates."
Generating cleaner energy
Duke Energy Carolinas has retired half of its older, less-efficient coal plants that do not have state-of-the-art emission controls and replaced them with cleaner, natural gas-fueled plants. The utility also supports the sustainable growth of solar energy, helping move North Carolina to second in the nation for overall solar power.
Nuclear energy is also a vital component of Duke Energy's generation portfolio now and in the future – providing reliable, carbon-free electricity to the Carolinas. However, Duke Energy is seeking NCUC approval to cancel the development of the Lee Nuclear project due to the recent bankruptcy of Westinghouse Electric Company, a subsidiary of Toshiba Corporation, and other market activity. Most notably, risks and uncertainties to initiating construction on the Lee Nuclear project have become too great and cancellation of the project is the best option for customers. Duke Energy will maintain the license to build new nuclear at this site in the future if it is in the best interest of customers.
Investments include:
Managing coal ash responsibly and recycling byproducts
Duke Energy Carolinas is responsibly managing coal ash and safely closing ash basins at its coal sites in the Carolinas. Duke Energy recycles about 75 percent of coal combustion byproducts, such as gypsum and coal ash, being produced at its plants in North Carolina, and is recycling or has plans to reuse material at all of its plant sites in the state. Customers will never be asked to pay for costs associated with the company's response to the Dan River coal ash release from a Duke Energy Carolinas ash basin in 2014, or for any fines or penalties the utility has incurred from the Dan River release.
Investments include:
Enhancing reliability and customer experience
Duke Energy Carolinas invests in the latest innovations to make electricity more reliable and give customers more control of their energy use to manage their bills.
Investments include:
Public process
Duke Energy Carolinas will demonstrate to the NCUC why the proposed increase is appropriate through a public review process that includes numerous opportunities for public comment. There will also be an evidentiary hearing in Raleigh, at which the commission will consider written and oral testimony. Duke Energy Carolinas has requested that new rates, as approved by the NCUC, go into effect spring 2018.
For additional resources, visit duke-energy.com/DECNCRates.
About Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,700 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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SOURCE Duke Energy
Article Date
8/25/2017Atlantic Coast Pipeline announces initiative to establish new pollinator habitats along proposed pipeline route
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RICHMOND, Va., Aug. 24, 2017 /PRNewswire/ -- In a video released today, Atlantic Coast Pipeline, LLC announced an initiative to establish new habitats for butterflies, bees and other pollinator insects along the route of the proposed Atlantic Coast Pipeline.
Pollinators are essential to the production of many of the fruits and vegetables we eat daily. However, pollinator populations, particularly bees and butterflies, have sharply declined in recent years due to the loss of suitable habitat. The Pollinator Habitat Initiative will create hundreds of acres of new pollinator habitat by replanting the Atlantic Coast Pipeline right of way with native grasses and wildflowers that attract the species.
The project has identified 750 acres of suitable locations along roughly 50 miles of the proposed pipeline route, with the most suitable locations found in flatter areas in southern Virginia and eastern North Carolina. Dozens of native seed mixes have been developed for the program, including native grasses such as Little Bluestem and Beaked Panicum, and wildflowers such as Partridge Pea and Black-Eyed Susan. The program is voluntary and will be implemented with the approval and input of participating landowners.
"Utility corridors offer ideal habitats for all kinds of wildlife, but especially the pollinators that are so essential for food production," said Pamela Faggert, Dominion Energy's Chief Environmental Officer and Senior Vice President, Sustainability. "This initiative builds on the more than 43,000 acres of pollinator habitats Dominion Energy has created along our electric transmission and distribution rights of way. We're excited to build on that progress and continue doing our part to improve our region's natural environment."
In developing the program, the project consulted with a number of wildlife experts, including Bob Glennon, a private lands biologist for Virginia Tech's Conservation Management Institute. "By replanting the pipeline right of way with pollinator habitats, as opposed to mowed grasses, we'll be creating hundreds of acres of new habitat for these species that we otherwise wouldn't have," said Glennon. "I couldn't think of a more environmentally beneficial use of these spaces, and I'm very proud to be a part of it."
One of the participating landowners is Ward Burton, founder and president of the Ward Burton Wildlife Foundation. Two of the Foundation's parcels are crossed by the pipeline in southern Virginia and have been selected for the initiative. "As a lifelong conservationist, I couldn't be more excited to participate in this program," said Burton. "Not only will it be beneficial for the pollinators, but it's also going to create new habitats for other wildlife like quail, turkey and songbirds. I see this as a really creative way to not just restore the right of way, but actually enhance its environmental value beyond what it was when we started."
For more information about the Atlantic Coast Pipeline Pollinator Habitat Initiative, please visit https://atlanticcoastpipeline.com/pollinator.aspx.
Atlantic Coast Pipeline, LLC is composed of four major U.S. energy companies – Dominion Energy, Duke Energy, Piedmont Natural Gas and Southern Company Gas. The joint venture partners plan to build and own the Atlantic Coast Pipeline, a proposed 600-mile underground natural gas transmission pipeline that would help meet the growing energy needs of public utilities in Virginia and North Carolina to generate cleaner electricity, heat homes and power local businesses.
About Dominion Energy
Dominion Energy (NYSE: D) is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 25,700 megawatts of generation, 15,000 miles of natural gas transmission, gathering and storage pipeline, and 6,600 miles of electric transmission lines. Dominion Energy operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information about Dominion Energy, visit the company's website at www.dominionenergy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States. Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest. Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
About Southern Company Gas
Southern Company Gas is a wholly owned subsidiary of Atlanta-based Southern Company (NYSE:SO), America's premier energy company. Southern Company Gas serves approximately 4.6 million natural gas utility customers through its regulated distribution companies in seven states and more than 1 million retail customers through its companies that market natural gas and related home services. Other nonutility businesses include investments in interstate pipelines, asset management for natural gas wholesale customers and ownership and operation of natural gas storage facilities. For more information, visit Southern Company Gas at www.southerncompanygas.com.
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SOURCE Dominion Energy
Article Date
8/24/2017Duke Energy bringing smart meters to Kentucky customers, giving them more control of their energy use and bill payment options
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Aug. 17, 2017 /PRNewswire/ -- Duke Energy Kentucky is launching its smart meter deployment program later this month, bringing the new digital technology to customers in northern Kentucky.
The new smart meters are part of Duke Energy's commitment to building a smarter energy future. The investment in the digital technology will improve reliability and help the company meet the changing needs and expectations of customers.
The new meters offer a number of enhanced services that will provide customers with more control over their energy use as well as offer tailored bill payment options.
Customers with smart meters will have the opportunity to pick billing due dates, and receive alerts that will guide their monthly budgeting and help them manage their personal energy lifestyle.
"Customers have told us they want more timely access to their energy usage information, and bringing these smart meters to Kentucky is a way for us to meet those expectations," said Jim Henning, president, Duke Energy Ohio and Kentucky. "We know our customers also want more control over their energy usage, their utility bill and tools to help them make smart energy choices to best fit their needs."
Customers will be notified via bill inserts, post cards, door hangers, phone calls and letters to let them know when we will be in their neighborhood for installations. Deployment will take approximately eighteen months.
Click here to learn more about smart meter technology.
Pick Your Due Date
Pick Your Due Date offers eligible Duke Energy Kentucky customers the option to select a billing due date that best aligns with their personal needs and finances to provide more flexibility and control when paying their monthly bills.
Usage Alerts
Monthly energy costs can be tricky to predict. Duke Energy Kentucky customers can now take control of their electricity use and monthly budget with Usage Alerts.
Customers will automatically receive an email halfway through the billing cycle. The email will include the current bill amount and a projection of their final monthly bill. Customers also have the option to receive mid-cycle alerts via text message.
Customers can also set up budget alerts to help keep their bill in check. They will be informed when their bill is expected to reach a specific dollar amount of their choosing, allowing them to course-correct and cut back on usage if they wish. It's similar to when your cell phone provider gives you a data usage update when you are nearing the limits of your plan.
These offerings will be available as new smart meters are installed. These meters are an evolution of the company's previous meter-reading technology and provide greater benefits and a better experience for customers.
Faster Service
Are you moving? With smart meters, most residential customers may no longer have to wait for a Duke Energy representative to come to their premises to connect or disconnect their electric service because requests can be performed remotely. For reconnecting or disconnecting gas service, we will still need access to the gas meter.
Quicker Response to Power Outages
Today you still need to notify us if you are experiencing a power outage. With a new smart meter, there is a two-way conversation with our computer systems, and we will know more about outages than we know today. This could help us respond faster to restore service. In the future, your smart meter may even report the outage for you!
Fewer Estimated Customer Bills
Smart meters are read automatically – not manually –so there's no need to estimate bills when meters can't be easily accessed, such as during severe weather. Duke Energy will no longer have to access a customer's property for monthly, walk-by meter reads.
Your Information Is Safe and Protected
Your energy usage information is strictly confidential. Duke Energy does not share this data with anyone without your authorization. The information coming from our smart meters is encrypted and protected from the moment it is collected until the moment it is purged.
Digital smart meter technology uses radio frequency bands that have been used for many years in devices such as baby monitors, remote-controlled toys and medical monitors. The radio signals are far below the levels emitted by common household appliances and electronics, including cellphones and microwave ovens. According to the World Health Organization, FCC, U.S. Food and Drug Administration and Electric Power Research Institute, no adverse short- or long-term health effects have been shown to occur from the radio frequency signals produced by smart meters or other such wireless networks.
Smart Meter Opt Out
If you choose to opt out of having a smart meter installed at your residence, please contact Duke Energy toll free at 877.675.1656 or 513.419.1777. Please note that a $25 monthly fee will be charged to your energy bill to cover the costs of manually reading your meter each month. If you opt out after the smart meter is installed, a one-time fee of $100 will be charged to your energy bill for removal of the smart meter, in addition to the $25 monthly fee.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
Office: 513.287.2432
Twitter: @DE_SallyT
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
8/17/2017Piedmont Natural Gas winning battle against natural gas thieves
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 16, 2017 /PRNewswire/ -- Piedmont Natural Gas announced today that an aggressive program to identify and stop natural gas theft has achieved dramatic results, but the company is asking for the community's help to further curtail the illegal and dangerous practice.
Piedmont's anti-theft team slashed the number of identified cases of theft 61 percent from 2012 through 2016. Cases of theft identified in the first six months of this year are down 32 percent from the first half of 2016.
"Stealing natural gas is not only a crime, it also puts innocent lives at risk and results in higher rates for all of Piedmont's customers," said Keith Napier, director of gas operations for Piedmont Natural Gas. "While we are pleased with the progress we have made, we want to make the public aware of the vital role it can play in reducing theft."
Natural gas theft takes several forms, including:
Piedmont is fighting theft with new technology that allows the company to locate stolen meters and data analysis to detect fluctuations in meter readings that could be a telltale sign of tampering. The anti-theft team also has improved training of service technicians and contact center employees and stepped up enforcement and prosecution by building stronger relationships with law enforcement and the court system. The company now prosecutes all cases of theft involving $1,000 or more in stolen natural gas.
Piedmont has identified several professional "fixers" in Charlotte and other markets who charge homeowners a fee to supply them with "free" natural gas obtained by illegal methods. Outfitted in bulletproof vests and badges, the anti-theft team calls in local police when it's ready to take enforcement action.
Piedmont encourages people who see anybody other than a Piedmont Natural Gas employee working on a natural gas meter to report it anonymously by calling 1-800-752-7504. Only Piedmont Natural Gas employees are legally authorized to turn natural gas on or off at the meter or adjust the meter in any way.
Meet Debbie Hauliska and José Estela of the Piedmont Natural Gas anti-theft team and watch a video of them in action in this article.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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Jennifer Sharpe Piedmont Natural Gas 704.731.4108 jennifer.sharpe@duke-energy.com
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SOURCE Duke Energy
Article Date
8/16/2017Piedmont Natural Gas warns customers of latest identity theft scam
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 14, 2017 /PRNewswire/ -- Piedmont Natural Gas today advised customers to be aware of an ongoing bill payment scam that could leave them exposed to the risk of identity theft.
In the past three weeks, at least 35 customers in North Carolina, South Carolina and Tennessee have been contacted about a fabricated government program offering to help pay their bill. Customers are asked to provide their Social Security number and bank routing number, then are given a Federal Reserve Bank routing number and told to pay their bill through an automated telephone payment service.
"Piedmont Natural Gas wants to make sure all of our customers know this is a fraudulent attempt to obtain sensitive personal data," said LaQuisha Parks, general manager of regional customer care operations for Piedmont Natural Gas. "We encourage all of our customers to be extremely cautious about sharing personal information such as Social Security numbers."
The scam is being communicated to customers through online videos, text messages, emails, websites, phone calls and flyers. Parks offered the following tips for all Piedmont Natural Gas customers:
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Jennifer Sharpe
Piedmont Natural Gas
704.731.4108
jennifer.sharpe@duke-energy.com
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SOURCE Duke Energy
Article Date
8/14/2017Duke Energy Renewables enters New York, purchasing one of the largest solar projects in the state from Invenergy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 14, 2017 /PRNewswire/ -- In its continuing efforts to bring affordable, renewable energy to customers across the United States, Duke Energy Renewables is acquiring the 24.9-megawatt (MW) Shoreham Solar Commons project on Long Island from Invenergy.
The project, currently under construction by Invenergy, is located in Brookhaven, New York, about 60 miles east of Manhattan. It is being built on the grounds of the former Tallgrass Golf Course and is expected to be complete in the second quarter of 2018.
The Long Island Power Authority (LIPA) will purchase the power under a 20-year agreement.
"We are excited to enter New York with a renewables project that offers many benefits to the state and local community," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "The solar project will help meet the energy needs of LIPA's customers while delivering tremendous economic and environmental benefits."
The project is expected to create more than 175 local jobs during construction and generate between $700,000 and $900,000 in annual tax revenue for the local community.
The energy generated from this project is estimated to displace 29,000 tons of greenhouse gas emissions annually and create nearly 1 million megawatt-hours of clean, renewable energy over its lifetime. Also, with the redevelopment, Invenergy is planting an additional 2,000 trees on the site.
"Duke Energy has a reputation of excellence and we are pleased to help them and their stakeholders meet the increasing demand for affordable, renewable energy," said Invenergy's EVP and Chief Development Officer Bryan Schueler. "Repurposing the former Tallgrass Golf Course into a solar site eliminates the use of pesticides and fertilizers on the property, protecting Long Island's fresh water aquifer and providing environmental benefits in addition to the generation of renewable energy."
Invenergy recently closed construction financing for the project with MUFG, the administrative agent and lead arranger.
Duke Energy Renewables will close on the transaction post-construction, pending federal and local approvals.
Duke Energy Renewables
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar renewable generation throughout the continental U.S. The portfolio includes nonregulated renewable energy and energy storage assets.
Duke Energy Renewables' renewable energy includes utility-scale wind and solar generation assets which total 2,900 MW across 14 states from 20 commercial wind and 63 solar projects. The power produced from renewable generation is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities and commercial and industrial customers. Learn more at https://www.duke-energy.com/renewable
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
About Invenergy
Invenergy drives innovation in energy. Invenergy and its affiliated companies develop, own, and operate large-scale renewable and other clean energy generation and storage facilities in the Americas, Europe and Asia. Invenergy's home office is located in Chicago and it has regional development offices in the United States, Canada, Mexico, Japan, Poland and Scotland.
Invenergy has developed more than 15,900 megawatts of projects that are in operation, construction or contracted, including wind, solar and natural gas power generation projects and energy storage facilities. For more information, please visit www.invenergyllc.com.
Duke Energy media contact: Tammie McGee
800.559.3853
Invenergy media contact: Mary Ryan
312.582.1424
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SOURCE Duke Energy
Article Date
8/14/20178/10/2017 - Duke Energy announces Chief Customer Officer to lead new Customer Experience Transformation Organization
Duke Energy announces Chief Customer Officer to lead new Customer Experience Transformation Organization
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 10, 2017 /PRNewswire/ -- Duke Energy today announced the formation of a new organization devoted to transforming how customers experience and interact with the company. Leading this new customer experience transformation organization is Barbara Higgins, who has been named senior vice president and chief customer officer.
In this newly created position, Higgins will be responsible for designing end-to-end strategies for measurement, valuation and enhancing the customer experience for residential, business and commercial customers. The new centralized customer experience organization will expand Duke Energy's capability to actively manage the customer experience through the numerous ways and channels customers interact with the company and provide robust insights into the drivers of customer satisfaction.
"We are moving towards a strong customer-centric culture shaped by improved understanding of customers' expectations. Barbara's extensive work in customer experience practices and providing organizational, measurement and brand support across multiple industries will be invaluable to delivering initiatives to meet customer needs," said Doug Esamann, executive vice president, energy solutions, and president, Midwest and Florida Regions.
Prior to joining Duke Energy, Higgins served as chief customer officer for Allstate Insurance Company where she managed the customer experience organization to drive retention, and implement successful multichannel strategies for improving service, sales, risk assessment and customer communication. Before Allstate, she served as vice president, customer experience at United Airlines, where she led digital and contact center functions and drove significant operational improvements through engagement with employees worldwide. In addition, she served for nearly 19 years in various executive positions at The Walt Disney Company.
"Duke Energy's recognition of the link between improved customer satisfaction and business results is unique in the utility sector, making it an exciting time to join the company. I've spent my career focusing on what motivates customers to help businesses deliver better results," said Higgins. "I am thrilled to support a company of Duke Energy's caliber that is committed to diversity, innovation and forward-thinking strategies that will bring greater value and choices to its customers."
Higgins earned her Bachelor of Science degree in Hotel Administration from Cornell University and a Master of Business Administration degree from the University of Florida's Warrington College of Business.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Valerie Patterson
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/10/2017Duke Energy Foundation energizes Florida with $1.7 million in educational and workforce development grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Aug. 9, 2017 /PRNewswire/ -- Duke Energy is providing $1.7 million in grants to 59 Florida-based educational and workforce development programs.
The grants are administered through the Duke Energy Foundation, which provides philanthropic support to communities served by Duke Energy, with a focus on "K to Career" educational and workforce development initiatives, the environment and community impact.
The educational grants will help fund projects in science, technology, engineering and math (STEM). The workforce development initiatives are designed to further bolster and expand the state's existing skilled workforce.
"Supporting educational initiatives is an integral mission of the Duke Energy Foundation," said Harry Sideris, Duke Energy Florida president. "These grants support vital STEM-focused programs in local schools, which in turn prepare our students to become community leaders as future scientists, teachers, engineers and other professionals. We also invest in workforce development initiatives to make a positive impact in the communities we serve. These programs enable local residents to receive training in high-demand fields."
Duke Energy workforce development grants have helped train workers across the country, including a program for energy workers at Lake-Sumter State College in Leesburg, Florida: https://illumination.duke-energy.com/articles/how-to-prepare-the-workforce-of-the-future.
Duke Energy's grants to K-12 local education foundations are also eligible for dollar-for-dollar matching funds through the State of Florida's School District Education Foundation Matching Grant Program, doubling the impact of the investment.
"Throughout Florida, students will be engaged in hands-on learning because of Duke Energy's investments in the work of our local education foundations," said Mary Chance, president of the Consortium of Florida Education Foundations, which administers the matching grants. "Students and teachers also benefit from the personal involvement of Duke Energy employees – as board leaders and program volunteers. Those employees offer their intellectual capital and community service, as well as financial resources, to make a significant and positive impact throughout Florida."
Recipients of the largest donations include:
Duke Energy has given more than $59 million to Florida charitable organizations since 2000.
Additionally, Duke Energy Florida employees volunteered more than 51,000 hours of community service within the last five years through the "Duke Energy in Action" program.
For additional information on Duke Energy's community giving programs visit www.duke-energy.com/foundation.
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592
24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
8/9/2017Duke Energy reports second quarter 2017 financial results
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 3, 2017 /PRNewswire/ -- Duke Energy (NYSE: DUK) has posted its second-quarter 2017 financial results in a news release available on the company's website at the following link: https://www.duke-energy.com/our-company/investors/financial-news.
Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer will discuss the company's financial results and other business and financial updates during an investor presentation at 10 a.m. ET today. The call can be accessed via the investors' section (www.duke-energy.com/our-company/investors/financial-news) of Duke Energy's website or by dialing 877-856-1958 in the United States or 719-325-4776 outside the United States. The confirmation code is 7921662. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 13, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 7921662. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
8/3/20178/1/2017 - Duke Energy Helping Home Fund to serve 700 additional income-qualified North Carolina families
Duke Energy Helping Home Fund to serve 700 additional income-qualified North Carolina families
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 1, 2017 /PRNewswire/ -- More than 700 income-qualified North Carolina families will save energy and money through free home energy makeovers provided by Duke Energy's Helping Home Fund.
The program serves families at or below 200 percent of federal poverty guidelines and provides energy efficiency upgrades at no cost to income-qualified customers.
Duke Energy is boosting the Helping Home Fund with an additional $2.5 million for weatherization upgrades, heating and cooling system repairs, appliance replacements and health and safety upgrades to customers' homes.
The Helping Home Fund has provided energy-saving measures and upgrades to more than 3,500 North Carolina families since launching in 2015 as a $20 million program.
"Helping our customers save energy and money is important to Duke Energy," said David Fountain, Duke Energy's North Carolina president. "For many of our low-income and elderly customers, energy-efficient appliances and technology are simply beyond their financial reach. The Helping Home Fund empowers customers to save energy by providing tools and upgrades that they otherwise might not be able to afford."
The program is administered by the N.C. Community Action Association (NCCAA) and offered through 28 agencies across the state.
"We can't thank Duke Energy enough for entrusting NCCAA and its network of agencies with doing this important work in communities across North Carolina," said Sharon Goodson, executive director of the N.C. Community Action Association. "We're excited Duke Energy is providing an additional $2.5 million to give even more low-income families across North Carolina the comfort and safety of an energy efficient home."
About Helping Home Fund
An energy assessment is conducted at each participant's home to determine which measures are most appropriate. In addition to the installation of energy-efficiency measures, customers also receive information on their home's energy use and strategies to reduce energy costs in the future.
Services provided by the program include:
The additional funds to the Helping Home Fund were authorized through an agreement with the N.C. Public Staff and approved by the N.C. Utilities Commission during the 2016 Duke Energy and Piedmont Natural Gas merger.
Information on participating agencies and how to apply for funds can be found at www.duke-energy.com/helpinghomefund
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/1/20177/28/2017 - Duke Energy Carolinas proposes annual update to fuel charges for South Carolina customers
Duke Energy Carolinas proposes annual update to fuel charges for South Carolina customers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., July 28, 2017 /PRNewswire/ -- Duke Energy Carolinas today made its annual filing with the Public Service Commission of South Carolina (PSCSC) for the costs associated with the purchase of fuel to generate electricity at its power plants.
The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.
If approved, the total monthly impact for a typical residential customer in South Carolina using 1,000 kilowatt-hours (kWh) per month would be an increase of $1.69.
Commercial customers would see an average increase in the fuel charge of about 3.2 percent, and industrial customers would receive an average increase of about 4.0 percent.
The main reasons for the proposed overall increase in rates include:
If approved by the PSCSC, the new fuel rates would go into effect Oct. 1.
The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,700 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
7/28/2017Don't start your engines! Duke Energy project tackles truck idling
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 26, 2017 /PRNewswire/ -- A total of 36 electric power outlets will help trucks at the Merchants Distributors, LLC (MDI) distribution center in Hickory cut costs and lower air emissions as part of a Duke Energy $320,000 electrification project.
Instead of running engines to keep cargo cold, transport refrigeration units (TRUs) at MDI will be able to plug into power outlets at the facility. The practice will help lower exhaust emissions, and is cheaper than the practice of running the TRUs on diesel fuel. Shorepower Technologies will install the power outlets.
"Most trucks can use electricity to keep cargo cold when not driving," said Melisa Johns, Duke Energy's vice president, business development. "This project will make that technology available to trucks at MDI's facility – providing cost savings and an environmental benefit to the local community."
According to the U.S. Environmental Protection Agency, long-duration truck idling results in more than 1 billion gallons of wasted fuel and 11 million tons of carbon dioxide emissions each year. On average, an hour of idling uses a gallon of fuel.
"MDI has invested in yard management software that will help maximize the use of the new power outlets," said Brent Vaughan, MDI's director, facility engineering. "This capability enables us to keep product cold using electricity, which is estimated to reduce fuel consumption by up to 31,000 gallons per year. In addition to fuel savings and reduced emissions, this project will also reduce noise and air pollution for our team and neighbors."
Construction is currently underway at the Hickory installation. The project should be operational by this fall.
"Shorepower is proud to be a part of this project with Duke Energy and MDI," said Jeff Kim, president, Shorepower Technologies. "MDI is a world-class facility with the latest energy-saving technologies. This project will further its efficiency goals and help reduce its carbon footprint."
This is Duke Energy's second project in North Carolina using electricity to power trucks instead of idling engines. In May, the company announced a 24-unit project at Big Boy's Truck Stop in the Johnston County town of Kenly. IdleAir is handling that installation. It should be operational in August.
The Duke Energy programs are part of a 2015 settlement with the U.S. Environmental Protection Agency and environmental groups.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Merchants Distributors, LLC
Founded in 1931, Merchants Distributors (MDI) is a privately owned wholesale grocery store distributor headquartered in Hickory, NC. MDI supplies over 600 retail food stores with food and non-food items in N.C., S.C., Ga., Tenn., Va., Ala., W.Va., Ohio, Fla., Pa., Md., and Ky. MDI also exports to over 20 countries. Merchants Distributors, LLC is a wholly owned subsidiary of Alex Lee, Inc. The company has a strong customer focus and offers a variety of services to help their customers succeed.
For more information, please visit merchantsdistributors.com
About Shorepower
Shorepower Technologies designs, builds, installs, and operates electrified parking spaces at truck stops, rest areas, travel plazas, warehouses, truck depots, terminals, shopping malls, businesses and other types of parking areas. Since 2004, Shorepower has electrified over 2,000 parking spaces throughout North America including 62 truck stops in 30 states. Shorepower maintains offices in New York, Oregon and Virginia. shorepower.com.
Duke Energy media contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com
Twitter: @DE_RandyW
Shorepower Technologies: Jeff Kim, President and CEO
(503) 686-8844
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SOURCE Duke Energy
Article Date
7/26/2017Duke Energy joins more than 250 companies in unprecedented commitment to advance diversity and inclusion in the workplace
Source: PR Newswire
CHARLOTTE, N.C., July 25, 2017 /PRNewswire/ -- Duke Energy today announced it has joined a national coalition of business leaders pledging to advance diversity and inclusion (D&I) in the workplace.
Launched in June, CEO Action for Diversity & Inclusion™ brings together more than 250 business leaders committing themselves – and the organizations they lead – to take concrete actions to foster a diverse and inclusive environment.
The CEO Action for Diversity & Inclusion™ represents nearly 70 industries, all 50 U.S. States, and millions of employees globally. Organizations joining the pledge commit to taking three initial actions: cultivate workplaces that support open dialogue on complex, and sometimes difficult, conversations about diversity and inclusion; implement and expand unconscious bias education; and, share best practices with member companies.
"A diverse and inclusive culture is a critical asset as we transform to better serve our customers and local communities," said Lynn Good, chairman, president and CEO of Duke Energy. "Our employees don't turn off their emotions when they come to work – and we don't want them to. We're committed to creating a safe environment for them to share their views because we've already seen how this can foster more compassion and wellbeing among our employees."
Today's announcement reflects Duke Energy's long-standing commitment to providing an inclusive environment where employees feel valued and respected. Among the programs that Duke Energy already offers to advance diversity and inclusion are:
New research from the Center for Talent Innovation, a nonprofit think tank, found that when employees can discuss the topic of race relations at work, they feel significantly more included. With this in mind, the CEO-driven pledge commits companies to work collaboratively to advance diversity and inclusion in the workplace, and in turn, improve corporate performance, drive growth, and enhance employee engagement.
"We are so proud that we are continuing to build momentum and support for the CEO Action for Diversity & Inclusion™ across companies, industries and regions," said Tim Ryan, U.S. Chairman and Senior Partner of PwC and chair of the steering committee for the CEO Action for Diversity & Inclusion™.
Visit the online hub to learn more about the pledge, and connect with the coalition on Facebook and Twitter.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Candice Knezevic
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/25/2017Piedmont Natural Gas named a Most Trusted Utility Brand
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 20, 2017 /PRNewswire/ -- Piedmont Natural Gas has been designated most trusted utility brand among residential customers, according to a new report based on surveys of customers of the nation's 129 largest utilities.
The Cogent Reports 2017 Utility Trusted Brand & Customer Engagement: Residential study ranks utilities based on their relationships with residential customers. Among the factors measured are operational satisfaction, product experience and brand trust.
Piedmont's score on Cogent's Brand Trust Index placed it second among all natural gas utilities nationwide and also second among all utilities. Piedmont also placed second in Cogent's 2015 study.
"We are thrilled to be recognized as the nation's second most trusted utility brand for the second time in only three years," said Frank Yoho, executive vice president and president of natural gas operations for Duke Energy. "We strive to earn our customers' trust every day by maintaining a safe and reliable distribution system, providing excellent customer service and being a good community partner. We are pleased to know that our customers are aware of these initiatives and value our relationship."
The full report is available here.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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Loree Elswick |
David Coburn |
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Piedmont Natural Gas |
Luquire George Andrews |
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704.731.4236 |
704.552.6565 |
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SOURCE Duke Energy
Article Date
7/20/2017Duke Energy unveils plans for its first solar power plants in Kentucky
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, July 14, 2017 /PRNewswire/ -- Duke Energy customers in Northern Kentucky will soon benefit from clean, renewable solar energy as part of the company's plans to develop its first solar facilities in the commonwealth. Duke Energy will build and operate three solar power plants on sites in Kenton and Grant counties, and the energy will be delivered directly to customers.
"Our customers want solar," said Jim Henning, president of Duke Energy Ohio & Kentucky. "And solar is something we've thoroughly studied and prioritized in our long-term planning.
"Now's the right time for many reasons. For instance, the cost of building solar projects has come down significantly in recent years, making it more cost-competitive with other sources of power generation. And solar gives us the ability to add power capacity in incremental steps – allowing us to match the growing demand for electricity in the region."
Duke Energy plans to begin construction later this summer and hopes to complete the majority of construction activity by the end of 2017. Once operational, the combined projects will generate about 6.8 megawatts, which, at peak production, can provide electricity for about 1,300 average-sized homes.
Crittenden and Walton solar power plants to power homes and businesses
Two of the projects, Walton Solar Power Plants 1 & 2, will be built in Kenton County on parts of a 60-acre property at 352 York Road. In total, Duke Energy will install about 19,000 solar panels at the site, which will be capable of producing more than 4 megawatts of electricity.
The Crittenden Solar Power Plant will be located off I-75 in Grant County on portions of a 110-acre site at 922 Ruark Road. This solar array will include about 12,500 panels, and will be able to generate more than 2.7 megawatts of electricity.
All of the electricity created from the three solar projects will be fed onto Duke Energy Kentucky's electric grid and delivered to homes, businesses, schools, places of worship and other customers in the area.
A diversity of energy sources
The solar power plants in Northern Kentucky will help diversify and complement Duke Energy Kentucky's existing power generation fleet, which includes a 650-megawatt coal-fired plant that typically runs 24/7 and a 500-megawatt gas-fired facility that the company activates when power demand is high – like on hot summer afternoons.
Duke Energy has more than a decade of experience in the renewable energy business, and is one of the nation's top-five renewable energy companies – having invested more than $5 billion in renewable energy over the past 10 years.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
513.287.4152 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/14/2017New programs offer Duke Energy Carolinas' customers more control of their energy use and bill payment options
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 12, 2017 /PRNewswire/ -- Duke Energy Carolinas is offering a number of new enhanced services that will provide customers with more control over their energy use as well as offer tailored bill payment options.
These programs offer customers with smart meters the opportunity to pick billing due dates, and receive alerts that will guide their monthly budget making and help them manage their personal energy lifestyle.
"Customers depend on energy more than ever to power their lives in ways that were never possible before," said Lloyd Yates, Executive Vice President Customer and Delivery Operations and President Carolinas. "It's important to us to offer smart options that will provide customers with more choice and control over their energy use, and offer bill-lowering tools to best fit their needs."
Pick Your Due Date
Pick Your Due Date offers eligible Duke Energy Carolinas' customers the option to select a billing due date that best aligns with their personal needs and financial situations in order to provide more flexibility and control when paying their monthly bills.
Usage Alerts
Monthly energy costs can be tricky to predict. Duke Energy Carolinas' customers can now take control of their electricity use and monthly budget with Usage Alerts.
Customers will automatically receive an email halfway through the billing cycle. The email will include the current bill amount and a projection of what their final monthly bill could be. Customers also have the option to receive mid-cycle alerts via text message.
Customers can also set up budget alerts to help keep their bill in check. They will be informed when their bill is expected to reach a specific dollar amount of their choosing, allowing them to course-correct and cut back on usage if they wish. It's similar to when your cell phone provider gives you a data usage update when you are nearing the limits of your plan.
These offerings become available as new smart meters are installed across the Carolinas. These meters are an evolution of the company's previous meter-reading technology as it enables greater benefits and a better experience for customers.
Hundreds of thousands of these meters have already been deployed across the Duke Energy Carolinas' territory making these programs available to many customers there now. This option will be available to Duke Energy Progress customers beginning in 2018 as new smart meters are deployed there.
"The smart meter installations are just the first step of a bold initiative to invest $16 billion over the next 10 years to strengthen the energy grid in the Carolinas," Yates said. "These enhancements will make the grid more secure, improve power quality and reliability, and continue to enable more options for our customers."
Duke Energy Carolinas serves 2.5 million electric customers in western and parts of central North Carolina. Duke Energy Progress serves 1.3 million electric customers in central and eastern North Carolina and in the Asheville region.
About Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,700 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
View original content with multimedia:http://www.prnewswire.com/news-releases/new-programs-offer-duke-energy-carolinas-customers-more-control-of-their-energy-use-and-bill-payment-options-300486954.html
SOURCE Duke Energy
Article Date
7/12/2017Duke Energy increases quarterly dividend payment by 4.1 percent
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 7, 2017 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.890 per share, an increase of $0.035 per share, or 4.1 percent.
The dividend is payable on Sept. 18, 2017, to shareholders of record at the close of business Aug. 18, 2017.
"Today's announcement demonstrates confidence in our strategy that produces real results for our customers and balanced growth in earnings for our investors," said Lynn Good, chairman, president and CEO. "This increase confirms our expectation to grow the dividend in line with our long-term earnings per share growth rate of 4-6 percent."
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
24-Hour: 800.559.3853
Analyst contact: Mike Callahan
704.382.0459
SOURCE Duke Energy
Article Date
7/7/2017Sabal Trail Transmission Project Placed In-Service
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
LAKE MARY, Fla., July 5, 2017 /PRNewswire/ -- Sabal Trail Transmission, LLC (Sabal Trail), a joint venture of Spectra Energy Partners, LP (NYSE: SEP), NextEra Energy, Inc., and Duke Energy, announced today that on July 3, 2017, it placed into commercial service its pipeline system and facilities from Alexander City, Alabama, to the Central Florida Hub in Kissimmee, Florida.
"Sabal Trail has successfully navigated a rigorous environmental permitting process over the past four years while working with landowners and key stakeholders to construct this new pipeline system. With the completion of this project, Florida Power & Light and Duke Energy will realize needed firm natural gas transportation services to meet their power generation requirements. We are pleased to reach this critical milestone and serve our customers in the Southeast U.S.," said Bill Yardley, President and Chairman of the Board of Spectra Energy Partners.
Sabal Trail will provide 400,000 dekatherms per day of firm transportation to Florida Power & Light in time for them to meet their peak cooling season. Additionally, Duke Energy Florida will accept 300,000 dekatherms of firm delivery daily once its Citrus County combined-cycle natural gas plant is ready to receive natural gas. The 515-mile pipeline will have the capacity to deliver approximately 1.1 billion cubic feet of natural gas per day to the Southeast U.S. once approved future compression expansions occur.
For more information on Sabal Trail, visit www.sabaltrail.com.
Spectra Energy Partners
Spectra Energy Partners, LP (NYSE: SEP), an Enbridge Inc. company, is a Houston-based master limited partnership. SEP is one of the largest pipeline MLPs in the United States and connects growing supply areas to high-demand markets for natural gas and crude oil. These assets include more than 15,000 miles of transmission pipelines, approximately 170 billion cubic feet of natural gas storage, and approximately 5.6 million barrels of crude oil storage.
NextEra Energy
NextEra Energy, Inc. (NYSE: NEE) is a leading clean energy company with consolidated revenues of approximately $16.2 billion, approximately 45,900 megawatts of generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP (NYSE: NEP), and approximately 14,700 employees in 30 states and Canada as of year-end 2016. Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 4.9 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. A Fortune 200 company and included in the S&P 100 index, NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity, and has been ranked No. 1 in the electric and gas utilities industry in Fortune's 2017 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
SOURCE Spectra Energy Partners, LP
Article Date
7/5/2017Duke Energy is building a smarter energy future by recycling even more coal ash
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 30, 2017 /PRNewswire/ -- Duke Energy today announced the proposed location for a third coal ash reprocessing unit at its Cape Fear Plant in Moncure, N.C.
Last year, the company shared plans to build units at the Buck Steam Station in Salisbury, N.C., and the H.F. Lee Plant in Goldsboro, N.C.
The units are requirements of the state's coal ash law and the company has met its obligations in advance of each deadline.
Once constructed, the three facilities in total are expected to reprocess 900,000 tons of coal ash a year from basins, making it suitable for use in concrete.
Prior to deciding to put the third reprocessing unit at Cape Fear, the company planned to excavate ash from the facility for beneficial use in structural fills, another important form of ash recycling.
"We're building a smarter energy future through safe, smart recycling of coal ash, turning a waste into a valuable ingredient in concrete and other construction materials," said Brian Weisker, vice president of coal combustion products, operations and maintenance. "Reusing the ash also benefits our customers and our state, often lowering the total cost of basin closure when compared to excavation and transport to a new location, for example."
In 2016, Duke Energy recycled about 75 percent of the coal combustion byproducts (coal ash and gypsum) produced in North Carolina.
A dedicated team of experts is partnering with technology companies, universities and industry organizations to research smart new uses of the material.
Coal ash can be safely reused to make construction materials stronger and more durable. Some of the world's most impressive buildings and bridges were built using coal ash.
In this video, Dylan Stewart, a Duke Energy employee, explains how his team is working to recycle waste into products that benefit communities and the economy.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour Media Contact:
800.559.3853
SOURCE Duke Energy
Article Date
6/30/2017Duke Energy customers may see lower summer electricity bills in Ohio and Kentucky
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, June 29, 2017 /PRNewswire/ -- Duke Energy customers may be pleasantly surprised when they receive their electricity bills this summer.
Company officials say that compared to a year ago, average bills for residential customers could drop 3-4 percent in Southwest Ohio and Northern Kentucky. That equates to roughly $3-$5 of savings per month.
"We experienced warmer-than-normal weather last summer," said Jim Henning, president of Duke Energy Ohio and Kentucky. "As a result, our customers used more electricity to cool their homes. This summer, we're forecasting temperatures that are closer to normal. That means our customers, on average, should see their electricity use and charges drop compared to one year ago."
Summer forecast: Near normal
Duke Energy meteorologists expect June will result in temperatures that are 0.7 degrees cooler than normal, July will be average, and August will be 1 degree cooler than normal – all in Duke Energy's Southwest Ohio and Northern Kentucky service areas.
As a comparison, in 2016, June was 2.2 degrees warmer than normal, July was 1.1 degrees warmer than normal, and August was 3.5 degrees warmer than normal.
Overall, meteorologists believe this summer will be around 2-2.5 degrees cooler than summer 2016.
Ways to manage summer electricity bills
Even though electricity bills may be lower this summer, they'll likely be higher than what customers experienced in April and May – months that typically bring mild temperatures and lower electricity bills.
Duke Energy offers free programs and tools to help customers better understand and manage their energy expenses throughout the year.
Summer energy-efficiency tips
Customers can also manage their energy use by taking advantage of these 10 low- to no-cost summer energy tips:
Additional resources
Duke Energy partners with local agencies to help low-income customers who may struggle to pay their energy bills. Please visit the company's website or call 800.544.6900 to learn more about the special assistance programs available to Ohio and Kentucky customers.
In addition, financial emergencies may occur from time to time. Duke Energy strongly encourages customers to call 800.544.6900 to learn about payment arrangements if they receive a disconnection notice and cannot pay before the disconnection date.
Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 850,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 529,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
513.287.4152 | 24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
6/29/2017Duke Energy to announce second quarter 2017 financial results on Aug. 3; materials to be available on the company's website only
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 28, 2017 /PRNewswire/ -- Duke Energy will announce the release of its second quarter 2017 financial results at 7 a.m. ET on Thursday, Aug. 3., in a news release to be posted on the company's website at www.Duke-Energy.com/investors.
Unlike in the past, the release will not be part of the PR Newswire distribution at 7 a.m. Aug. 3. Instead, the announcement that will be distributed over the wire will contain a link to the company's investor relations page, where the full release and other earnings-related materials will be available.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the second quarter 2017 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.Duke-Energy.com/investors/) of Duke Energy's website or by dialing 877-856-1958 in the United States or 719-325-4776 outside the United States. The confirmation code is 7921662. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 13, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 7921662. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Neil Nissan
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
SOURCE Duke Energy
Article Date
6/28/2017Duke Energy selects North Carolina locations for economic development program
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RALEIGH, N.C., June 19, 2017 /PRNewswire/ -- Duke Energy has selected six North Carolina properties for participation in the first half of its 2017 Site Readiness Program to prepare them for business and industrial development.
The Site Readiness Program has helped prepare properties that have won 11 major projects in North Carolina since the program started in 2005, resulting in more than 2,400 new jobs and $3.3 billion in capital investment.
Through the program, Duke Energy identifies high-quality industrial sites and partners with county officials and local economic development professionals to develop a strategy for providing water, sewer, natural gas and electricity to the properties.
"This program shines a light on high-quality industrial sites across the state, and enables communities, especially in rural areas, to attract jobs and build thriving economies," said John Geib, North Carolina economic development director for Duke Energy. "We're committed to continuing these efforts that help build stronger communities and ultimately, a stronger North Carolina."
The locations include:
"As a local economic developer, I consider this program to be a real value-add to our own local efforts and appreciate Duke Energy being a proactive partner," said Mac Williams, president of the Alamance County Chamber of Commerce. "This program focuses on local property issues, which helps communities prioritize limited local resources to better compete for jobs and tax base."
"Duke Energy has been an excellent partner in this effort. This site assessment is the third for Chatham County, and is a big boost to economic development efforts," said Kyle Touchstone, president of Chatham Economic Development Corporation. "The input from the study is invaluable for strategically marketing an industrial site."
"Having this site in the Craven County Industrial Park included in the 2017 Duke Energy Site Readiness Program is a huge boost for the attraction of potential industry to the site," said Timothy Downs, director of Craven County Economic Development. "The review and advice from McCallum Sweeney will be invaluable in helping us effectively market this industrial site."
"With the help of Duke Energy and this process, we are able quantify and effectively convey the full potential of the site," said Robert Van Geons, president and CEO of the Fayetteville Cumberland Economic Development Corporation. "The journey from a vacant piece of land into a project-winning economic development site is complex, and we are grateful to be included in this program that has such a strong track record of results."
"The Duke Energy Site Readiness Program provides an excellent opportunity to have a professional site assessment performed by a nationally recognized site consultant firm," said Richie Duncan, director of Franklin County Economic Development. "The findings will enable us to identify key attributes of the site in order to help us better compete for industrial and manufacturing projects in the future."
"Today's companies want to move quickly on launching new locations, and that means being certain their technical requirements are in place," said Chris Johnson, director of the Johnston County Office of Economic Development. "The Duke Energy Site Readiness Program walks us through that process in a very valuable way, providing us access to influential site-selection consultants while also giving them exposure to Johnston County and the advantages we can offer their clients."
Site consulting firm McCallum Sweeney Consulting will evaluate the six sites. Based on consultant recommendations, Duke Energy will collaborate with county leaders and local economic development professionals to develop an improved strategy for marketing these sites.
Additionally, each site is eligible to apply for a $10,000 matching grant from Duke Energy to help prepare it to attract projects.
After each site's state of readiness has advanced, Duke Energy's business development team strategically markets each of them nationwide to companies looking to expand or relocate their operations.
"We understand the important role our company plays in the economic development landscape, and we work diligently to keep our rates competitive," Geib said. "North Carolina can better compete for business investment, growth and jobs with reliable electricity and affordable energy prices."
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development." Through these efforts, Duke Energy helped recruit $2.2 billion in capital investment in North Carolina and more than 5,500 jobs for the state in 2016.
For more information about Duke Energy's economic development programs, visit considerthecarolinas.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
Office: 919.546.2109 | 24-Hour: 800.559.3853
Twitter: @DE_MeredithA
SOURCE Duke Energy
Article Date
6/19/2017Duke Energy Progress helps homeowners save 20 percent on utility bills through Residential New Construction Program
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RALEIGH, N.C., June 15, 2017 /PRNewswire/ -- Duke Energy Progress helped homebuilders and home energy raters in the Triangle, Wilmington and Asheville areas construct 3,800 new energy-efficient homes in 2016.
Families moving into these homes collectively save 20 percent on their utility bills compared to standard code-built homes.
"Powering the lives of hard-working families is the most important job we have," said David Fountain, Duke Energy's North Carolina president. "Builders participating in the Residential New Construction Program are making a commitment to building better, smarter and more efficient homes to benefit North Carolina's communities."
As part of the program, certified Home Energy Raters access and verify the energy efficiency of each home.
Qualifying homes must meet stricter requirements that make them at least 15 to 20 percent more energy efficient than homes built to standard building codes. Energy-saving features include increased insulation values, tighter building shells, high-performance HVAC systems and high-efficiency windows.
Long-term benefits to homeowners include enhanced indoor comfort, improved air quality, increased property value and energy bill savings month after month.
The Residential New Construction Program was launched in 2013, and has supported 10,000 projects to date.
Homebuilder and Home Energy Rater awards
Duke Energy Progress recently hosted the 2016 Homebuilder and Rater Awards to recognize efforts to support the Residential New Construction Program. The following category winners were recognized for each region:
Central Region (Triangle area)
Coastal Region (Wilmington area)
Western Region (Asheville area)
"The 2016 award winners are all key participants whose contributions have made the Residential New Construction Program a success," said Fountain. "Thanks to their hard work, the program exceeded its goal for megawatt-hour savings in 2016."
For more information on the Residential New Construction Program, visit www.duke-energy.com/mynewhome.
About Duke Energy Progress
Duke Energy Progress owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,900 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Grace Rountree
Office: 919.546.2557 | 24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
6/15/20176/14/2017 - Education, workforce development in North Carolina energized by $2.7 million in Duke Energy grants
Education, workforce development in North Carolina energized by $2.7 million in Duke Energy grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 14, 2017 /PRNewswire/ -- Duke Energy is continuing its commitment to students and the workforce of the future by investing $2.7 million in more than 70 education and training initiatives across North Carolina.
The 2017 grants, from the Duke Energy Foundation, will enhance educational programs focused on science, technology, engineering and math (STEM), childhood reading proficiency and workforce development.
"Our goal is to build a brighter future for the communities we're fortunate to serve," said David Fountain, Duke Energy's North Carolina president. "That begins with smart investments in the people who will successfully move our industry, workforce and state forward."
Examples of this year's grant recipients include:
"Duke Energy's steadfast support of our transitioning military families and disabled veterans continues to make our mission a reality in the lives of many," said Richard Salem, chairman and CEO of Enable America's VetConnect program. "We are proud to be a Duke Energy partner, working side by side in providing 'hands on' employment assistance programs; truly, 'good things happen when people have jobs.'"
"Thanks to Duke Energy's support of Project Impact and Early Steps, we will significantly expand our reach next year – multiplying the impact of a program that builds reading skills in our district's highest-need first graders," said Cynthia Barber, reading interventionist coordinator.
"Duke Energy's support of the HOME Program enables us to attract, retain and educate more high-achieving students in Engineering and Computer Science and to develop the engineering leaders of tomorrow," said North Carolina A&T College of Engineering Dean Robin Coger. "We're very grateful to have Duke Energy as a partner in this work, which is not only important for our students, but critical for the future of our state and nation."
"When Richmond Community College recognized the power industry's need to train the next generation of utility workers to replace those approaching retirement age, Duke Energy was on board to help us establish a program that would meet a demand and offer our students an opportunity for high skill, high wage jobs," said Dr. Dale McInnis, Richmond Community College president. "Duke Energy has been a key partner in the establishment, growth and success of our Electric Utility Substation and Relay Technology program, which is unlike any other two-year associate degree program in the country."
"We are grateful to Duke Energy for their support of Read and Feed and our mission to build children's confidence and competence with individualized tutoring," said Kati Mullan, executive director, Read and Feed. "Their grant will allow us to implement tablets and digital learning into our program curriculum this Fall, which will be an exciting and interactive tool for our children and volunteers."
Click here for a full list of 2017 Duke Energy Foundation North Carolina grant recipients.
About The Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Grace Rountree
24-Hour: 800.559.3853
Twitter: @DE_GraceR
SOURCE Duke Energy
Article Date
6/14/2017Meteorologists predicting a hot, early summer - 10 ways to save all summer long
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 13, 2017 /PRNewswire/ -- Duke Energy meteorologists are forecasting a hot, early summer when the season kicks off in June. Small efforts to save energy can lead to big savings when temperatures rise during the summer months.
Follow these 10 low-cost to no-cost energy-efficiency tips to save on your energy bill all summer long:
Monitoring your energy use
Duke Energy offers ways to monitor your energy use to help customers avoid billing surprises, including:
Programs to help you save
Duke Energy offers a variety of programs, incentives and rebates to help customers save money, including:
For more information, tips, programs and ways to save money, visit duke-energy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
SOURCE Duke Energy
Article Date
6/13/20176/12/2017 - Duke Energy and Siemens enter innovative agreement for advanced gas turbine technologies
Duke Energy and Siemens enter innovative agreement for advanced gas turbine technologies
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 12, 2017 /PRNewswire/ -- Lower customer costs, regional economic growth, increased efficiency and flexibility are potential benefits of a recent agreement between Duke Energy and Siemens.
Duke Energy submitted plans to the North Carolina Utilities Commission (NCUC) today for expansion of its Lincoln County Combustion Turbine (LCCT) generation site. The proposal includes Siemens as the Engineering, Procurement and Construction (EPC) contractor for the project, including supply of the advanced gas turbine unit.
Approximately 400 megawatts of peaking energy will be needed to meet Duke Energy customers' needs in the Carolinas by 2024. Approval for early construction provides Siemens with an opportunity to build and test its newest gas turbine technologies in time to meet that need. Following construction, testing and validation, the new unit will be turned over to Duke Energy for operation. The proposed unit would be the most efficient combustion turbine in the Duke Energy fleet and around 25 percent more efficient than the existing Lincoln County turbines.
"This unique arrangement with Siemens offers a significant cost savings to our customers while providing one of the most advanced, efficient gas turbine units in the U.S.," said David Fountain, Duke Energy's North Carolina president. "This new technology will provide us with flexible peaking power needed to complement intermittent solar energy resources for our customers and lower emissions across our fleet."
Siemens manufactures and services gas turbines, steam turbines and generators at its Charlotte Energy Hub.
"Our cooperation with Duke Energy is a very important step in our roadmap to further drive the efficiency of natural gas generation," said Willi Meixner, CEO of Siemens Power and Gas Division. "In addition to meeting the needs of Duke Energy customers, the proposed project supports jobs and the Carolina economy."
Pending regulatory approval, construction could begin as early as mid-2018, with gas turbine testing beginning in 2020 on Duke Energy's 746-acre site near Denver, N.C. The site currently houses 16 gas-fueled, simple-cycle combustion turbines capable of generating 1,200 megawatts during short periods when customers' needs are highest.
The Lincoln County site, completed in 1995, includes existing infrastructure such as access to natural gas and transmission connections, making it suitable for expansion.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Siemens
Siemens Corporation is a U.S. subsidiary of Siemens AG, a global powerhouse focusing on the areas of electrification, automation and digitalization. One of the world's largest producers of energy-efficient, resource-saving technologies, Siemens is a leading supplier of systems for power generation and transmission as well as medical diagnosis. With approximately 351,000 employees in 190 countries, Siemens reported worldwide revenue of $88.1 billion in fiscal 2016. Siemens in the USA reported revenue of $23.7 billion, including $5.4 billion in exports, and employs approximately 50,000 people throughout all 50 states and Puerto Rico. Follow Siemens USA on Twitter at: www.twitter.com/SiemensUSA
Duke Energy media contact: Rick Rhodes
24-hour media line: 800.559.3853
Siemens media contact: Jeffrey Grappone
Media line: 202.368.3854
SOURCE Duke Energy
Article Date
6/12/2017Duke Energy Progress proposes rate change for building a smarter energy future
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RALEIGH, N.C., June 1, 2017 /PRNewswire/ -- Recent work to modernize power plants and generate cleaner electricity, responsibly manage coal ash and respond to major storms is at the heart of the request by Duke Energy Progress to change customer rates.
Duke Energy Progress serves 1.3 million electric customers in central and eastern North Carolina and in the Asheville region.
Based on these investments, the filing with the N.C. Utilities Commission (NCUC) requests to increase revenues by about $477 million, for an overall average rate increase across all customer classes of 14.9 percent.
"Our customers tell us they want electricity that is more reliable and increasingly clean, and they also want more value and choice every day," said David Fountain, Duke Energy's North Carolina president. "It is critical that we, as their energy provider, balance these needs with smart investments that keep costs reasonable and keep North Carolina competitive."
The average rate increase from the proposed changes for residential customers would be 16.7 percent, while commercial and industrial customers would see an average increase of 13.5 percent. The specific increase for individual customers would vary, depending on the rate they pay.
If the proposal is approved, a residential customer who uses 1,000 kilowatt-hours (kWh) of electricity monthly would pay about $122.48 per month. Duke Energy Progress has requested options to spread recovery of certain costs over multiple years to reduce the immediate impact on customer bills.
Duke Energy Progress has maintained rates below the national average, and with the proposed change, customers would continue to pay rates lower than in 1987, when adjusted for inflation.
"We are transitioning to a cleaner generation mix, closing older, less-efficient coal-fired plants and shifting to natural gas, carbon-free nuclear and expanded solar energy," said Fountain. "Through these investments, we are providing customers cleaner, more reliable energy and have laid the foundation for a smarter energy future from which all North Carolinians can benefit."
Generating cleaner energy
Duke Energy Progress has retired more than half of its older, less-efficient coal plants that do not have state-of-the-art emission controls, and replaced them with cleaner, natural gas plants. The utility also supports the sustainable growth of solar energy, helping move North Carolina to second in the nation for overall solar power.
Investments include:
Managing coal ash responsibly and recycling byproducts
Duke Energy Progress is responsibly managing coal ash and safely closing ash basins at its eight coal sites in the Carolinas. Duke Energy recycles about 75 percent of coal combustion byproducts being produced at its plants in North Carolina, and is recycling or has plans to reuse material at all of its plant sites in the state. Customers will never be asked to pay for costs associated with the company's response to the Dan River coal ash release from a Duke Energy Carolinas ash basin in 2014, or for any fines or penalties the utility has incurred from the Dan River release.
Investments include:
Responding to major storms
In 2016, North Carolina faced significant devastation from multiple storms that required the company to completely rebuild parts of the state's energy system.
This request includes costs to repair significant damage caused by the following storms in 2016:
Public process
Duke Energy Progress will demonstrate to the NCUC why the proposed increase is appropriate through a public review process that includes an opportunity for public comment. There will also be a final evidentiary hearing in Raleigh, where the commission will consider written and oral testimony. Duke Energy Progress has requested that new rates, as approved by the NCUC, go into effect Jan. 1, 2018.
For additional resources, visit www.duke-energy.com/future.
About Duke Energy Progress
Duke Energy Progress owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,900 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
6/1/2017Celebrating a new Frontier: Duke Energy Renewables hosts dedication ceremony for 200-megawatt Oklahoma wind project
Source: PR Newswire
CHARLOTTE, N.C., June 1, 2017 /PRNewswire/ -- More than 100 supporters attended a dedication ceremony May 31 for Duke Energy Renewables' Frontier Windpower Project, a 200-megawatt (MW) facility near Blackwell, Oklahoma.
State Rep. John Pfeiffer, who was the keynote speaker at the event, said, "Wind energy is progressive and beneficial to the economy of Oklahoma. I'm grateful to companies like Duke Energy Renewables that are unlocking the potential of this important resource to the benefit of our state."
"The support of community leaders, landowners, vendors and our customer, City Utilities of Springfield, made a project of this scale possible," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "After celebrating the success of the Frontier project, we are exploring the potential of bringing more wind power to Oklahoma."
The wind facility, located in Kay County, became operational in late December 2016. City Utilities of Springfield, Mo., is purchasing the power from the Frontier Windpower Project under a 22-year agreement.
"The partnership that we have developed with Frontier and Duke is one that has helped to secure the foundation for Springfield's energy demands of the future," said Scott Miller, general manager, City Utilities of Springfield, "Changes in power generation sources have been very quick, and we're excited to be able to offer this level of renewable resource to our customers at the same time we retire some of our older generation sources."
Duke Energy Renewables partnered with the Blackwell Industrial Authority for Frontier's operations and maintenance building.
"Rarely does a project, by design, have a multigenerational economic impact on a region like Duke Energy Renewables' Frontier wind farm," said John Robertson, executive director of Blackwell Industrial Authority. "Blackwell, Oklahoma, is fortunate to have been selected for their operations, assuring decades of high-tech jobs and investment in our rural location."
The 200-MW Frontier Wind produces enough emissions-free electricity to power about 60,000 average homes.
Vestas supplied 61 V126-3.3 MW turbines for the site.
Video available: Visit Duke Energy's illumination site to download a 60-second time lapse video at http://illumination.duke-energy.com/articles/oklahoma-project-captures-the-power-of-the-wind. Still photos available upon request.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 20 wind projects and 55 solar facilities in operation in more than a dozen states, totaling about 2,900 megawatts in electric-generating capacity.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About City Utilities of Springfield
City Utilities of Springfield (CU) is a progressive, community-owned utility serving southwest Missouri with electricity, natural gas, water, broadband and transit services. CU has a diverse electric supply resource mix including coal, natural gas, wind, solar, landfill methane, and hydroelectric. CU provides electricity to 111,000 customers in our community.
Duke Energy media contact: Tammie McGee
800.559.3853
City Utilities of Springfield media contact: Joel Alexander
417.831.8902
SOURCE Duke Energy
Article Date
6/1/2017Duke Energy urges customers to be ready for hurricane season
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 31, 2017 /PRNewswire/ -- Hurricane season begins June 1, but preparing for these massive storms never stops – for Duke Energy or its customers.
"We have seen the devastation a hurricane can cause in the Carolinas with Hurricane Matthew last year," said Tim Tripp, Duke Energy's Carolinas storm director and vice president of engineering and technical customer relations. "While we can't control the weather, we do prepare for storms every day of the year. We urge our customers to get ready now so they can react quickly during a storm, hurricane or severe weather that heads our way."
Duke Energy and its staff of meteorologists are constantly monitoring weather conditions, preparing to do whatever is necessary to maintain its high level of reliability and to respond to power outages that impact our customers quickly and safely. Here is additional information regarding what our meteorologists expect during the 2017 hurricane season.
The following tips can help you and your family stay safe if severe weather strikes and the power goes out:
For a "Hurricane Kit Checklist," important safety tips and more information on what to do before, during and after a storm, visit https://www.duke-energy.com/safety-and-preparedness/storm-safety.
For more tips on general emergency preparedness, visit www.ready.gov.
Click here for a video and to read more about safety around downed power lines.
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round.
And earlier this year, the company announced a 10-year, $13 billion investment – Power / Forward Carolinas – that includes such grid hardening efforts as moving underground some overhead services that are routinely affected by dense vegetation and retrofitting about 400,000 transformers with new technology to prevent animal interference and lightning strikes.
Outage reporting and status updates
At any time, customers can report power outages by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (www.facebook.com/duke.energy).
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
5/31/20175/30/2017 - Education, workforce development in the Palmetto State boosted by more than $900,000 in Duke Energy grants
Education, workforce development in the Palmetto State boosted by more than $900,000 in Duke Energy grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., May 30, 2017 /PRNewswire/ -- Duke Energy has been powering South Carolina for more than a century, and continues to power the minds of its students and the workforce of the future by investing in innovative education programs and initiatives.
Through the Duke Energy Foundation, more than $900,000 in grants will go to initiatives across the state that emphasize science, technology, engineering and math (STEM), increasing childhood reading proficiency and workforce development.
"Supporting effective education programs that improve childhood literacy and focus on fields related to science and technology are a critical focus for our company," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "Along with high-impact workforce development initiatives, these programs can help create the next generation workforce South Carolina businesses and industries need to be successful."
Duke Energy's education and workforce development grants this year include:
"As we've done since our inception in 1985, Public Education Partners seeks to partner with our school district and rally our community to incubate innovative programs that focus on excellent teaching and ultimately result in improved student achievement and success," said Dr. Ansel Sanders, president and CEO of Public Education Partners. "Duke Energy understands this as well. We are deeply appreciative of Duke Energy's transformative commitment to supporting teachers, particularly teachers in the STEM fields, and setting up our program for ongoing success."
"We are so excited to partner with Duke Energy to develop an exhibit to help children and families understand the science behind electricity generation," said Karen Coltrane, president and CEO of EdVenture Children's Museum. "Discovery through doing is how EdVenture inspires a life-long, internally motivated love of learning, and we suspected from seeing other great projects that Duke Energy has made possible that we were on the right track with this. Thousands of children in South Carolina will have a better understanding of this important topic because of this grant."
The grants are administered through the Duke Energy Foundation. Last year, the foundation donated more than $2.8 million to nonprofit organizations throughout South Carolina.
About The Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
5/30/2017Lt. Gov. Crouch joins leaders from Duke Energy Indiana and NSA Crane to celebrate completion of new solar power plant
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., May 18, 2017 /PRNewswire/ -- Indiana Lt. Gov. Suzanne Crouch joined leaders from Duke Energy, the Department of the Navy (DON) and Naval Support Activity Crane at a ribbon-cutting ceremony today to celebrate the completion of the 17-megawatt solar power plant at NSA Crane, located about 40 miles south of Bloomington.
"The solar project at Naval Support Activity Crane will serve as a catalyst for future energy infrastructure projects for the Navy, as well as bringing greater energy management to our state, spurring innovation and growth," said Crouch.
Other notable ceremony presenters included Melody Birmingham-Byrd, president, Duke Energy Indiana; Cmdr. Timothy A. Craddock, commanding officer, NSA Crane; and John Kliem, executive director of the DON's Resilient Energy Program Office.
"This solar power plant helps provide our customers with a more balanced energy mix using both traditional fuel sources and renewable energy sources," said Birmingham-Byrd. "We are pleased to partner with the Navy on a project that will deliver clean energy to Indiana customers, and improved energy security for the Navy."
"With roughly 76,000 solar panels stretched across 145 acres, this solar project is quite an impressive achievement and stands as a monument to our enduring relationship with the state of Indiana and our energy partners," said Cmdr. Craddock. "Through this endeavor, we are providing and promoting energy sustainability and bringing renewable energy options to the installation and neighboring communities."
Duke Energy built, and will own, operate and maintain the solar facility on NSA Crane. In exchange for providing secure, on-base land needed for the project, NSA Crane will receive in-kind consideration in the form of electrical infrastructure upgrades, such as a motor-operated disconnect switch, and a microgrid feasibility study to increase future base resiliency.
The project will contribute to the DON's diverse energy portfolio, ensuring more secure and resilient operations at NSA Crane. The DON is pleased to work with Duke Energy on this project to incorporate alternative energy initiatives in the local area.
Duke Energy Indiana
Duke Energy Indiana's operations provide about 6,800 megawatts of owned electric capacity to approximately 820,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
5/18/20175/16/2017 - Duke Energy awards $1.1 million in Water Resources Fund grants to improve local water quality
Duke Energy awards $1.1 million in Water Resources Fund grants to improve local water quality
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 16, 2017 /PRNewswire/ -- Fourteen organizations spanning 27 counties in North Carolina and South Carolina will receive more than $1.1 million in new grants from Duke Energy's Water Resources Fund to support environmental and wildlife programs.
The fund is a $10 million multiyear commitment from Duke Energy to help local organizations continue to protect and improve the environment, including waterways used year-round across the Carolinas and neighboring states.
"The projects we're investing in now through the Water Resources Fund ensure that future generations will enjoy the benefits of our waterways," said David Fountain, Duke Energy's North Carolina president. "This in one of the many ways we are working to build a better future for our communities."
"We are so excited to receive a grant from Duke Energy's Water Resources Fund for the RADTIP Riparian Restoration Plan," said Stephanie Monson Dahl, director of the strategic development office for the city of Asheville. "These funds will help create a community partnership to further our City Council's 2036 vision, which includes a focus on clean water and quality urban forests."
"These projects benefit our waterways and contribute to the economic vitality of our local communities," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "Maintaining the vitality of our communities is one of our most important responsibilities at Duke Energy."
"Duke Energy's Water Resources Fund is an incredible resource for organizations like ours," said Natalie Britt, executive director of Palmetto Conservation Foundation. "We are thrilled to receive funding to conserve an awesome watershed and give the public access via the Palmetto Trail," she said. PCF is building a new passage of the trail along the lower Eastatoe Creek through the internationally acclaimed Jocassee Gorges Wilderness Area in Pickens County, S.C. The mountains-to-sea Palmetto Trail is one of 16 cross-state hiking trails in the nation.
Duke Energy has awarded more than $6 million in grants to 73 projects in the Carolinas and Virginia since establishing the fund in 2015. Recipients are selected by an independent body that includes five environmental experts and two Duke Energy employees.
Organizations receiving the new grants are:
Additional details on the grants follow:
North Carolina
South Carolina
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Candice Knezevic
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
5/16/2017Piedmont Natural Gas to be honored by Leadership North Carolina
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 11, 2017 /PRNewswire/ -- Piedmont Natural Gas, a subsidiary of Duke Energy, today will receive the Charles T. Hagan III Chairman's Award from Leadership North Carolina for its longtime support of the organization.
Victor Gaglio, Piedmont's chief utility officer, will accept the award during the organization's graduation and awards ceremony at the North Carolina State Capitol in the Old House Chamber. The ceremony will run from 4 to 5:30 p.m.
The award honors a person or organization that has provided significant support to Leadership North Carolina's mission to inform, develop and engage committed leaders in the state by broadening their understanding of and involvement in issues and opportunities facing North Carolina.
The award was established in 2004 in honor of Chip Hagan, a member of Leadership North Carolina's founding committee. Since then, just six organizations have been chosen as recipients, including Duke Energy, Appalachian State University, Blue Cross Blue Shield of North Carolina, The Crumley Group and Capitol Broadcasting.
In addition to financially supporting Leadership North Carolina, Piedmont Natural Gas has sponsored employee participation in the program and provided subject matter experts for panel discussions and events.
"Leadership North Carolina's continued work to improve the lives of North Carolinians aligns with Piedmont's commitment to building strong communities as well as our focus on leadership development," Gaglio said. "We are very proud to receive this award and honored to support Leadership North Carolina's mission."
Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Loree Elswick
Office: 704.731.4236 I 24-hour: 877.348.3612
loree.elswick@duke-energy.com
SOURCE Duke Energy
Article Date
5/11/2017Fuel savings and improved air quality highlight Duke Energy's truck-stop effort in N.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 11, 2017 /PRNewswire/ -- More than 25,000 gallons of truck fuel is projected to be saved annually as part of a $300,000 Duke Energy project to fund electrification at a North Carolina truck stop.
Big Boy's Truck Stop, in the Johnston County town of Kenly, will soon have 24 truck electrification stations where drivers can pay to plug in and avoid idling engines. This will be an economical way to provide electricity and hot or cold air during overnight stays. Additionally, four plugs will provide standby power for refrigerated cargo to avoid the need to run diesel compressors.
"The economic and environmental aspects of the projects are terrific. It allows drivers to use technology to lower their own carbon footprint in the course of their daily work that benefits our environment," said Melisa Johns, Duke Energy's vice president, business development.
On an annual basis, the project should reduce carbon dioxide emissions by almost 500 tons and reduce volatile organic compounds (VOCs) and nitrogen oxide emissions by more than 2 tons.
IdleAir, located in Knoxville, Tenn., will install and maintain the stations. They are expected to complete installation before this summer.
"This is a common sense feature that helps truckers get a cleaner, quieter night's sleep, while saving them money and sparing the community from significant emissions," said Mark Miller, president of Convoy Solutions, provider of IdleAir.
Each year, more than 2 billion gallons of diesel are wasted by overnight idling, according to a study from Argonne National Labs. Idling is the industry standard method of providing overnight comfort to the more than 1 million drivers who sleep in their trucks each night.
The family-owned Big Boy's Truck Stop is located at 595 Bagley Road, Kenly, N.C. -- off I-95, exit 105.
"We're eager to attract new drivers, and give all guests an alternative to idling," said owner Walter Powell Jr. "This will help us be better neighbors in our community, which means a lot to our business."
The Duke Energy program was part of a 2015 settlement with the U.S. Environmental Protection Agency and environmental groups.
About Duke Energy
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Convoy Solutions d/b/a IdleAir
Based in East Tennessee, Convoy Solutions LLC, the proud provider of IdleAir, is a privately held company that provides a menu of choices – both services and products - for America's hard-working long-haul truck drivers. These solutions are alternatives to idling engines during rest periods that have both positive economic and environmental impacts to users, companies and the world we live in.
The IdleAir product and service allows truck drivers to turn off their diesel engines and APU's and still enjoy heating, cooling, standard electric inside and outside the cab, Satellite TV, Internet, and many of the comforts of home — all while saving money and getting better sleep without the noise, vibration, and exhaust fumes from idling.
Follow IdleAir on Twitter, LinkedIn, YouTube, and Facebook.
Duke Energy media contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com
Twitter: @DE_RandyW
IdleAir media contact: Mark Miller
Office: 865.232.1706
24-Hour: 877.738.7024
Email: Mark.Miller@idleair.com
SOURCE Duke Energy
Article Date
5/11/2017Duke Energy reports first quarter 2017 financial results
Source: PR Newswire
CHARLOTTE, N.C., May 9, 2017 /PRNewswire/ --
Duke Energy today announced first quarter 2017 reported diluted EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP) of $1.02, compared to $1.01 for the first quarter of 2016. Duke Energy's first quarter 2017 adjusted diluted EPS was $1.04, compared to $1.13 for the first quarter 2016.
Adjusted diluted EPS excludes the impact of certain items included in GAAP reported diluted EPS. Amounts excluded from adjusted diluted EPS are primarily costs to achieve the Piedmont Natural Gas merger.
Adjusted diluted EPS for the first quarter of 2017 was lower than the prior year, primarily due to the absence of International Energy, which was sold in December 2016, and warm winter weather. Partially offsetting these drivers were the contributions of Piedmont Natural Gas and favorable operations and maintenance (O&M) expense at Electric Utilities and Infrastructure.
Based upon the results through the first quarter, the company remains on track to achieve its 2017 adjusted diluted earnings guidance range of $4.50 to $4.70 per share.
"We have a compelling strategy to deliver value to our stakeholders, and we are making good progress against our plan," said Lynn Good, Duke Energy chairman, president and CEO, "We recently announced Power/Forward Carolinas, our 10-year grid modernization plan in North Carolina. This program and others like it will not only strengthen the energy grid, but will also stimulate economic development and job growth in our communities and provide additional benefits for our customers."
"Our ongoing investments drove solid growth in our electric and gas utilities in the quarter, and we are responding to warm winter weather through disciplined cost management and operational efficiency. We remain on-track for 2017 and have affirmed our full-year guidance range."
Business segment results
In addition to the following summary of first quarter 2017 business segment performance, a comprehensive table with detailed earnings per share drivers for the first quarter 2017, compared to prior year, is provided on page 17.
The discussion below of the first quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. The tables on pages 8 and 9 present a reconciliation of GAAP reported results to adjusted results.
Due to the Piedmont acquisition and the sale of International Energy in the fourth quarter of 2016, Duke Energy's segment structure has been realigned to include the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The remainder of Duke Energy's operations is presented as Other. Other now includes the results of National Methanol Company (NMC), previously included in the International Energy segment. Prior periods have been recast to conform to the current segment structure.
Electric Utilities and Infrastructure
On a reported and adjusted basis, Electric Utilities and Infrastructure recognized first quarter 2017 segment income of $635 million, compared to $664 million in the first quarter of 2016, a decrease of $0.03 per share, excluding share dilution of $0.02 cents per share.
Lower quarterly results at Electric Utilities and Infrastructure were primarily driven by warm winter weather compared to the prior year (-$0.14 per share), across all jurisdictions.
This unfavorable driver was partially offset by:
Gas Utilities and Infrastructure
Gas Utilities and Infrastructure recognized first quarter 2017 reported and adjusted segment income of $133 million, compared to $32 million in the first quarter of 2016, an increase of $0.14 per share.
Higher quarterly results at Gas Utilities and Infrastructure were primarily driven by:
Commercial Renewables
On a reported and adjusted basis, Commercial Renewables recognized first quarter 2017 segment income of $25 million, compared to $26 million in the first quarter of 2016. Higher earnings from new wind projects brought on-line in late 2016 (+$0.01 per share) were offset by lower solar ITCs in the current year (-$0.01 per share).
Other
Other primarily includes corporate interest expense not allocated to the business units, results from Duke Energy's captive insurance company, and other investments including NMC, an equity method investment.
On a reported basis, Other recognized first quarter 2017 net expense of $77 million, compared to net expense of $148 million in the first quarter of 2016. In addition to the drivers outlined below, quarterly results were impacted by lower costs to achieve mergers and charges related to cost savings initiatives in the prior year. These charges were treated as special items and therefore excluded from adjusted earnings.
On an adjusted basis, Other recognized first quarter 2017 adjusted net expense of $67 million, compared to adjusted net expense of $62 million in the first quarter of 2016, a decrease of $0.01 per share. Lower quarterly results at Other were driven by higher interest expense at the holding company, primarily resulting from the Piedmont Natural Gas acquisition financing (‑$0.02 per share), partially offset by higher earnings from NMC (+$0.01 per share).
Duke Energy's consolidated reported effective tax rate for first quarter 2017 was 32.4 percent, compared to 30.4 percent in the first quarter of 2016. The consolidated adjusted effective tax rate for first quarter 2017 was 32.5 percent, compared to 25.6 percent in 2016. Adjusted effective tax rate is a non-GAAP financial measure. The tables on pages 10 and 11 present a reconciliation of the GAAP reported effective tax rate to the adjusted effective tax rate.
Discontinued Operations
Duke Energy's first quarter 2016 Income from Discontinued Operations includes the operating results of the International Disposal Group of $117 million, which were included in adjusted earnings.
Earnings conference call for analysts
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET today to discuss the first quarter 2017 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-675-4757 in the United States or 719-325-4760 outside the United States. The confirmation code is 9134940. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 19, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 9134940. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Special Items and Non-GAAP Reconciliation
The following table presents a reconciliation of GAAP reported to adjusted diluted EPS for first quarter 2017 and 2016 financial results:
|
(In millions, except per-share amounts) |
After-Tax |
1Q 2017 |
1Q 2016 |
|||||||
|
Diluted EPS, as reported |
$ |
1.02 |
$ |
1.01 | ||||||
|
Adjustments to reported EPS: |
||||||||||
|
First Quarter 2017 |
||||||||||
|
Costs to achieve Piedmont merger |
$ |
10 |
0.02 |
|||||||
|
First Quarter 2016 |
||||||||||
|
Costs to achieve mergers |
74 |
0.11 | ||||||||
|
Cost savings initiatives |
12 |
0.02 | ||||||||
|
Discontinued operations(a) |
(3) |
(0.01) | ||||||||
|
Total adjustments |
$ |
0.02 |
$ |
0.12 | ||||||
|
Diluted EPS, adjusted |
$ |
1.04 |
$ |
1.13 | ||||||
|
(a) Represents GAAP reported Income from Discontinued Operations less the International Disposal Group operating results, which are included in adjusted earnings. |
||||||||||
Non-GAAP financial measures
Management evaluates financial performance in part based on non-GAAP financial measures, including adjusted earnings and adjusted diluted EPS.
Adjusted earnings and adjusted diluted EPS represent income from continuing operations attributable to Duke Energy, adjusted for the dollar and per share impact of special items. As discussed below, special items represent certain charges and credits which management believes are not indicative of Duke Energy's ongoing performance. Management believes the presentation of adjusted earnings and adjusted diluted EPS provides useful information to investors, as it provides them with an additional relevant comparison of Duke Energy's performance across periods. Management uses these non-GAAP financial measures for planning and forecasting and for reporting financial results to the Duke Energy Board of Directors, employees, stockholders, analysts and investors. Adjusted diluted EPS is also used as a basis for employee incentive bonuses. The most directly comparable GAAP measures for adjusted earnings and adjusted diluted EPS are Net Income Attributable to Duke Energy Corporation (GAAP Reported Earnings) and Diluted EPS Attributable to Duke Energy Corporation common stockholders (GAAP Reported EPS), respectively.
Special items included in the periods presented include the following items which management believes do not reflect ongoing costs:
Adjusted earnings also include operating results of the International Disposal Group, which have been classified as discontinued operations. Management believes inclusion of the operating results of the Disposal Group within adjusted earnings and adjusted diluted EPS results in a better reflection of Duke Energy's financial performance during the period.
Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods (such as legal settlements, the impact of regulatory orders, or asset impairments).
Management evaluates segment performance based on segment income and other net expense. Segment income is defined as income from continuing operations attributable to Duke Energy. Segment income includes intercompany revenues and expenses that are eliminated in the Consolidated Financial Statements. Management also uses adjusted segment income as a measure of historical and anticipated future segment performance. Adjusted segment income is a non-GAAP financial measure, as it is based upon segment income adjusted for special items, which are discussed above. Management believes the presentation of adjusted segment income provides useful information to investors, as it provides them with an additional relevant comparison of a segment's performance across periods. The most directly comparable GAAP measure for adjusted segment income or adjusted other net expense is segment income and other net expense.
Due to the forward-looking nature of any forecasted adjusted segment income or adjusted other net expense and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as the company is unable to forecast all special items, as discussed above.
Duke Energy's adjusted earnings, adjusted diluted EPS, and adjusted segment income may not be comparable to similarly titled measures of another company because other companies may not calculate the measures in the same manner.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as private solar and battery storage, in Duke Energy's service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business; operational interruptions to our gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks, including the financial stability of third party service providers; the timing and extent of changes in commodity prices and interest rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; the credit ratings may be different from what the company and its subsidiaries expect; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; substantial revision to the U.S. tax code, such as changes to the corporate tax rate or a material change in the deductibility of interest; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; and the ability to successfully integrate the natural gas businesses following the acquisition of Piedmont Natural Gas Company, Inc. and realize anticipated benefits.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
|
DUKE ENERGY CORPORATION | ||||||||||||
|
REPORTED TO ADJUSTED EARNINGS RECONCILIATION | ||||||||||||
|
Three Months Ended March 31, 2017 | ||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||
|
Special Item |
||||||||||||
|
Reported |
Costs to Achieve |
Adjusted | ||||||||||
|
SEGMENT INCOME |
||||||||||||
|
Electric Utilities and Infrastructure |
$ |
635 |
$ |
— |
$ |
635 |
||||||
|
Gas Utilities and Infrastructure |
133 |
— |
133 |
|||||||||
|
Commercial Renewables |
25 |
— |
25 |
|||||||||
|
Total Reportable Segment Income |
793 |
— |
793 |
|||||||||
|
Other |
(77) |
10 |
A |
(67) |
||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
716 |
$ |
10 |
$ |
726 |
||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.02 |
$ |
0.02 |
$ |
1.04 |
||||||
|
A - Net of $6 million tax benefit. $15 million recorded within Operating Expenses and $1 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. | ||||||||||||
|
Weighted Average Shares, Diluted (reported and adjusted) - 700 million | ||||||||||||
|
DUKE ENERGY CORPORATION | |||||||||||||||||||||||||||
|
REPORTED TO ADJUSTED EARNINGS RECONCILIATION | |||||||||||||||||||||||||||
|
Three Months Ended March 31, 2016 | |||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | |||||||||||||||||||||||||||
|
Special Items |
|||||||||||||||||||||||||||
|
Reported Earnings |
Costs to Achieve Mergers |
Cost Savings Initiatives |
International Energy Operations |
Discontinued Operations |
Total Adjustments |
Adjusted Earnings | |||||||||||||||||||||
|
SEGMENT INCOME |
|||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure |
$ |
664 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
664 |
|||||||||||||
|
Gas Utilities and Infrastructure |
32 |
— |
— |
— |
— |
— |
32 |
||||||||||||||||||||
|
Commercial Renewables |
26 |
— |
— |
— |
— |
— |
26 |
||||||||||||||||||||
|
Total Reportable Segment Income |
722 |
— |
— |
— |
— |
— |
722 |
||||||||||||||||||||
|
International Energy |
— |
— |
— |
117 |
C |
— |
117 |
117 |
|||||||||||||||||||
|
Other |
(148) |
74 |
A |
12 |
B |
— |
— |
86 |
(62) |
||||||||||||||||||
|
Discontinued Operations |
120 |
— |
— |
(117) |
C |
(3) |
D |
(120) |
— |
||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
694 |
$ |
74 |
$ |
12 |
$ |
— |
$ |
(3) |
$ |
83 |
$ |
777 |
|||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.01 |
$ |
0.11 |
$ |
0.02 |
$ |
— |
$ |
(0.01) |
$ |
0.12 |
$ |
1.13 |
|||||||||||||
|
A - Net of $46 million tax benefit. Includes $1 million recorded within Operating Revenues, $19 million recorded within Operating Expenses and $100 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. The interest expense primarily relates to losses on forward-starting interest rate swaps associated with the Piedmont acquisition financing. | |||||||||||||||||||||||||||
|
B - Net of $8 million tax benefit. Consists of severance costs recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. | |||||||||||||||||||||||||||
|
C - Includes $39 million tax benefit. Operating results of the International Disposal Group classified as discontinued operations. | |||||||||||||||||||||||||||
|
D - Recorded in Income from Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | |||||||||||||||||||||||||||
|
Weighted Average Shares Outstanding, Diluted (reported and adjusted) - 689 million | |||||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION | ||||||||
|
Three Months Ended March 31, 2017 | ||||||||
|
(Dollars in Millions) | ||||||||
|
Three Months Ended |
||||||||
|
Balance |
Effective Tax Rate |
|||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
1,061 |
||||||
|
Costs to Achieve Piedmont Merger |
16 |
|||||||
|
Noncontrolling Interests |
(1) |
|||||||
|
Adjusted Pretax Income |
$ |
1,076 |
||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
344 |
32.4% |
|||||
|
Costs to Achieve Piedmont Merger |
6 |
|||||||
|
Adjusted Tax Expense |
$ |
350 |
32.5% |
* | ||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. | ||||||||
|
DUKE ENERGY CORPORATION | ||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION | ||||||||
|
Three Months Ended March 31, 2016 | ||||||||
|
(Dollars in Millions) | ||||||||
|
Three Months Ended |
||||||||
|
Balance |
Effective Tax Rate |
|||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
829 |
||||||
|
Costs to Achieve Mergers |
120 |
|||||||
|
Cost Savings Initiatives |
20 |
|||||||
|
International Energy Operations |
78 |
|||||||
|
Noncontrolling Interests |
(3) |
|||||||
|
Adjusted Pretax Income |
$ |
1,044 |
||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
252 |
30.4% |
|||||
|
Costs to Achieve Mergers |
46 |
|||||||
|
Cost Savings Initiatives |
8 |
|||||||
|
International Energy Operations |
(39) |
|||||||
|
Adjusted Tax Expense |
$ |
267 |
25.6% |
* | ||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. | ||||||||
|
March 2017 | |||||||
|
QUARTERLY HIGHLIGHTS | |||||||
|
(Unaudited) | |||||||
|
Three Months Ended | |||||||
|
March 31, | |||||||
|
(In millions, except per-share amounts and where noted) |
2017 |
2016 | |||||
|
Earnings Per Share - Basic and Diluted |
|||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.02 |
$ |
0.83 |
|||
|
Diluted |
$ |
1.02 |
$ |
0.83 |
|||
|
Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
— |
$ |
0.18 |
|||
|
Diluted |
$ |
— |
$ |
0.18 |
|||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.02 |
$ |
1.01 |
|||
|
Diluted |
$ |
1.02 |
$ |
1.01 |
|||
|
Weighted average shares outstanding |
|||||||
|
Basic |
700 |
689 | |||||
|
Diluted |
700 |
689 | |||||
|
INCOME (LOSS) BY BUSINESS SEGMENT |
|||||||
|
Electric Utilities and Infrastructure |
$ |
635 |
$ |
664 |
|||
|
Gas Utilities and Infrastructure(a) |
133 |
32 |
|||||
|
Commercial Renewables |
25 |
26 |
|||||
|
Total Reportable Segment Income |
793 |
722 |
|||||
|
Other(b)(c) |
(77) |
(148) |
|||||
|
Income from Discontinued Operations, net of tax |
— |
120 |
|||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
716 |
$ |
694 |
|||
|
CAPITALIZATION |
|||||||
|
Total Common Equity (%) |
44% |
48% |
|||||
|
Total Debt (%) |
56% |
52% |
|||||
|
Total Debt |
$ |
52,556 |
$ |
43,072 |
|||
|
Book Value Per Share |
$ |
58.84 |
$ |
57.98 |
|||
|
Actual Shares Outstanding |
700 |
689 |
|||||
|
CAPITAL AND INVESTMENT EXPENDITURES |
|||||||
|
Electric Utilities and Infrastructure |
$ |
1,874 |
$ |
1,439 |
|||
|
Gas Utilities and Infrastructure |
341 |
55 |
|||||
|
Commercial Renewables |
59 |
167 |
|||||
|
Other(d) |
61 |
43 |
|||||
|
Total Capital and Investment Expenditures |
$ |
2,335 |
$ |
1,704 |
|||
|
Note: Prior period amounts have been recast to conform to the current segment structure. | |||||||
|
(a) Includes $99 million of Piedmont's earnings for the three months ended March 31, 2017. | |||||||
|
(b) Includes costs to achieve mergers of $10 million (net of tax of $6 million) for the three months ended March 31, 2017, and $74 million (net of tax of $46 million) for the three months ended March 31, 2016. | |||||||
|
(c) Includes a charge of $12 million (net of tax of $8 million) for the three months ended March 31, 2016, primarily consisting of severance expense related to cost savings initiatives. | |||||||
|
(d) Includes capital expenditures of the International Disposal Group prior to the sale for the three months ended March 31, 2016. | |||||||
|
March 2017 | |||||||
|
QUARTERLY HIGHLIGHTS | |||||||
|
(Unaudited) | |||||||
|
Three Months Ended | |||||||
|
March 31, | |||||||
|
(In millions) |
2017 |
2016 | |||||
|
ELECTRIC UTILITIES AND INFRASTRUCTURE | |||||||
|
Operating Revenues |
$ |
4,947 |
$ |
5,089 |
|||
|
Operating Expenses |
|||||||
|
Fuel used in electric generation and purchased power |
1,454 |
1,577 |
|||||
|
Operation, maintenance and other |
1,271 |
1,298 |
|||||
|
Depreciation and amortization |
737 |
709 |
|||||
|
Property and other taxes |
261 |
262 |
|||||
|
Impairment charges |
— |
2 |
|||||
|
Total operating expenses |
3,723 |
3,848 |
|||||
|
Gains on Sales of Other Assets and Other, net |
3 |
1 |
|||||
|
Operating Income |
1,227 |
1,242 |
|||||
|
Other Income and Expenses |
79 |
63 |
|||||
|
Interest Expense |
315 |
270 |
|||||
|
Income Before Income Taxes |
991 |
1,035 |
|||||
|
Income Tax Expense |
356 |
371 |
|||||
|
Segment Income |
$ |
635 |
$ |
664 |
|||
|
GAS UTILITIES AND INFRASTRUCTURE | |||||||
|
Operating Revenues |
$ |
670 |
$ |
170 |
|||
|
Operating Expenses |
|||||||
|
Cost of natural gas |
258 |
49 |
|||||
|
Operation, maintenance and other |
105 |
32 |
|||||
|
Depreciation and amortization |
57 |
20 |
|||||
|
Property and other taxes |
30 |
18 |
|||||
|
Total operating expenses |
450 |
119 |
|||||
|
Operating Income |
220 |
51 |
|||||
|
Other Income and Expenses |
18 |
3 |
|||||
|
Interest Expense |
26 |
7 |
|||||
|
Income Before Income Taxes |
212 |
47 |
|||||
|
Income Tax Expense |
79 |
15 |
|||||
|
Segment Income |
$ |
133 |
$ |
32 |
|||
|
COMMERCIAL RENEWABLES | |||||||
|
Operating Revenues |
$ |
128 |
$ |
114 |
|||
|
Operating Expenses |
|||||||
|
Operation, maintenance and other |
77 |
73 |
|||||
|
Depreciation and amortization |
39 |
30 |
|||||
|
Property and other taxes |
9 |
6 |
|||||
|
Total operating expenses |
125 |
109 |
|||||
|
Gains on Sales of Other Assets and Other, net |
2 |
1 |
|||||
|
Operating Income |
5 |
6 |
|||||
|
Other Income and Expenses |
(1) |
(2) |
|||||
|
Interest Expense |
19 |
11 |
|||||
|
Loss Before Income Taxes |
(15) |
(7) |
|||||
|
Income Tax Benefit |
(39) |
(33) |
|||||
|
Less: Loss Attributable to Noncontrolling Interests |
(1) |
— |
|||||
|
Segment Income |
$ |
25 |
$ |
26 |
|||
|
OTHER | |||||||
|
Operating Revenues |
$ |
33 |
$ |
29 |
|||
|
Operating Expenses |
|||||||
|
Fuel used in electric generation and purchased power |
15 |
11 |
|||||
|
Operation, maintenance and other |
8 |
36 |
|||||
|
Depreciation and amortization |
26 |
34 |
|||||
|
Property and other taxes |
3 |
9 |
|||||
|
Impairment charges |
— |
2 |
|||||
|
Total operating expenses |
52 |
92 |
|||||
|
Gains on Sales of Other Assets and Other, net |
5 |
5 |
|||||
|
Operating Loss |
(14) |
(58) |
|||||
|
Other Income and Expenses |
21 |
17 |
|||||
|
Interest Expense |
134 |
205 |
|||||
|
Loss Before Income Taxes |
(127) |
(246) |
|||||
|
Income Tax Benefit |
(52) |
(101) |
|||||
|
Less: Income Attributable to Noncontrolling Interests |
2 |
3 |
|||||
|
Other Net Expense |
$ |
(77) |
$ |
(148) |
|||
|
Note: Prior period amounts have been recast to conform to the current segment structure. | |||||||
|
DUKE ENERGY CORPORATION | |||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
|
(Unaudited) | |||||||
|
(In millions, except per-share amounts) | |||||||
|
Three Months Ended March 31, | |||||||
|
2017 |
2016 | ||||||
|
Operating Revenues |
|||||||
|
Regulated electric |
$ |
4,913 |
$ |
5,053 |
|||
|
Regulated natural gas |
646 |
169 |
|||||
|
Nonregulated electric and other |
170 |
155 |
|||||
|
Total operating revenues |
5,729 |
5,377 |
|||||
|
Operating Expenses |
|||||||
|
Fuel used in electric generation and purchased power |
1,449 |
1,588 |
|||||
|
Cost of natural gas |
258 |
49 |
|||||
|
Operation, maintenance and other |
1,433 |
1,416 |
|||||
|
Depreciation and amortization |
859 |
793 |
|||||
|
Property and other taxes |
304 |
295 |
|||||
|
Impairment charges |
— |
3 |
|||||
|
Total operating expenses |
4,303 |
4,144 |
|||||
|
Gains on Sales of Other Assets and Other, net |
11 |
7 |
|||||
|
Operating Income |
1,437 |
1,240 |
|||||
|
Other Income and Expenses |
|||||||
|
Equity in earnings of unconsolidated affiliates |
29 |
8 |
|||||
|
Other income and expenses, net |
86 |
70 |
|||||
|
Total other income and expenses |
115 |
78 |
|||||
|
Interest Expense |
491 |
489 |
|||||
|
Income From Continuing Operations Before Income Taxes |
1,061 |
829 |
|||||
|
Income Tax Expense from Continuing Operations |
344 |
252 |
|||||
|
Income From Continuing Operations |
717 |
577 |
|||||
|
Income From Discontinued Operations, net of tax |
— |
122 |
|||||
|
Net Income |
717 |
699 |
|||||
|
Less: Net Income Attributable to Noncontrolling Interests |
1 |
5 |
|||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
716 |
$ |
694 |
|||
|
Earnings Per Share - Basic and Diluted |
|||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.02 |
$ |
0.83 |
|||
|
Diluted |
$ |
1.02 |
$ |
0.83 |
|||
|
Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
— |
$ |
0.18 |
|||
|
Diluted |
$ |
— |
$ |
0.18 |
|||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.02 |
$ |
1.01 |
|||
|
Diluted |
$ |
1.02 |
$ |
1.01 |
|||
|
Weighted average shares outstanding |
|||||||
|
Basic |
700 |
689 | |||||
|
Diluted |
700 |
689 | |||||
|
DUKE ENERGY CORPORATION | |||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | |||||||
|
(unaudited) | |||||||
|
(in millions) |
March 31, 2017 |
December 31, 2016 | |||||
|
ASSETS |
|||||||
|
Current Assets |
|||||||
|
Cash and cash equivalents |
$ |
878 |
$ |
392 |
|||
|
Receivables (net of allowance for doubtful accounts of $13 at 2017 and $14 at 2016) |
623 |
751 |
|||||
|
Receivables of VIEs (net of allowance for doubtful accounts of $57 at 2017 and $54 at 2016) |
1,682 |
1,893 |
|||||
|
Inventory |
3,366 |
3,522 |
|||||
|
Regulatory assets (includes $53 at 2017 and $50 at 2016 related to VIEs) |
1,031 |
1,023 |
|||||
|
Other |
425 |
458 |
|||||
|
Total current assets |
8,005 |
8,039 |
|||||
|
Property, Plant and Equipment |
|||||||
|
Cost |
123,301 |
121,397 |
|||||
|
Accumulated depreciation and amortization |
(40,293) |
(39,406) |
|||||
|
Generation facilities to be retired, net |
508 |
529 |
|||||
|
Net property, plant and equipment |
83,516 |
82,520 |
|||||
|
Other Noncurrent Assets |
|||||||
|
Goodwill |
19,425 |
19,425 |
|||||
|
Regulatory assets (includes $1,131 at 2017 and $1,142 at 2016 related to VIEs) |
12,838 |
12,878 |
|||||
|
Nuclear decommissioning trust funds |
6,448 |
6,205 |
|||||
|
Investments in equity method unconsolidated affiliates |
1,122 |
925 |
|||||
|
Other |
2,754 |
2,769 |
|||||
|
Total other noncurrent assets |
42,587 |
42,202 |
|||||
|
Total Assets |
$ |
134,108 |
$ |
132,761 |
|||
|
LIABILITIES AND EQUITY |
|||||||
|
Current Liabilities |
|||||||
|
Accounts payable |
$ |
2,203 |
$ |
2,994 |
|||
|
Notes payable and commercial paper |
3,558 |
2,487 |
|||||
|
Taxes accrued |
363 |
384 |
|||||
|
Interest accrued |
526 |
503 |
|||||
|
Current maturities of long-term debt (includes $281 at 2017 and $260 at 2016 related to VIEs) |
1,977 |
2,319 |
|||||
|
Asset retirement obligations |
404 |
411 |
|||||
|
Regulatory liabilities |
340 |
409 |
|||||
|
Other |
1,570 |
2,044 |
|||||
|
Total current liabilities |
10,941 |
11,551 |
|||||
|
Long-Term Debt (includes $4,108 at 2017 and $3,587 at 2016 related to VIEs) |
47,021 |
45,576 |
|||||
|
Other Noncurrent Liabilities |
|||||||
|
Deferred income taxes |
14,443 |
14,155 |
|||||
|
Asset retirement obligations |
10,186 |
10,200 |
|||||
|
Regulatory liabilities |
6,972 |
6,881 |
|||||
|
Accrued pension and other post-retirement benefit costs |
1,115 |
1,111 |
|||||
|
Investment tax credits |
537 |
493 |
|||||
|
Other |
1,707 |
1,753 |
|||||
|
Total other noncurrent liabilities |
34,960 |
34,593 |
|||||
|
Commitments and Contingencies |
|||||||
|
Equity |
|||||||
|
Common stock, $0.001 par value, 2 billion shares authorized; 700 million shares outstanding at 2017 and 2016 |
1 |
1 |
|||||
|
Additional paid-in capital |
38,742 |
38,741 |
|||||
|
Retained earnings |
2,521 |
2,384 |
|||||
|
Accumulated other comprehensive loss |
(85) |
(93) |
|||||
|
Total Duke Energy Corporation stockholders' equity |
41,179 |
41,033 |
|||||
|
Noncontrolling interests |
7 |
8 |
|||||
|
Total equity |
41,186 |
41,041 |
|||||
|
Total Liabilities and Equity |
$ |
134,108 |
$ |
132,761 |
|||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
(Unaudited) | ||||||||
|
(In millions) | ||||||||
|
Three Months Ended March 31, | ||||||||
|
2017 |
2016 | |||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
|
Net Income |
$ |
717 |
$ |
699 |
||||
|
Adjustments to reconcile net income to net cash provided by operating activities |
572 |
983 |
||||||
|
Net cash provided by operating activities |
1,289 |
1,682 |
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
|
Net cash used in investing activities |
(2,399) |
(1,758) |
||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
|
Net cash provided by (used in) financing activities |
1,596 |
(3) |
||||||
|
Changes in cash and cash equivalents included in assets held for sale |
— |
30 |
||||||
|
Net increase (decrease) in cash and cash equivalents |
486 |
(49) |
||||||
|
Cash and cash equivalents at the beginning of period |
392 |
383 |
||||||
|
Cash and cash equivalents at end of period |
$ |
878 |
$ |
334 |
||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||||
|
EARNINGS VARIANCES | ||||||||||||||||||||||||||||||||||
|
March 2017 YTD vs. Prior Year | ||||||||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure |
Gas Utilities and Infrastructure |
Commercial Renewables |
International Energy |
Other |
Discontinued Operations |
Consolidated | ||||||||||||||||||||||||||||
|
($ per share) |
||||||||||||||||||||||||||||||||||
|
2016 YTD Reported Earnings Per Share, Diluted |
$ |
0.96 |
$ |
0.05 |
$ |
0.04 |
$ |
— |
$ |
(0.22) |
$ |
0.18 |
$ |
1.01 |
||||||||||||||||||||
|
Costs to Achieve Mergers |
— |
— |
— |
— |
0.11 |
— |
0.11 |
|||||||||||||||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
— |
0.02 |
— |
0.02 |
|||||||||||||||||||||||||||
|
International Energy Operations |
— |
— |
— |
0.17 |
— |
(0.17) |
— |
|||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
— |
(0.01) |
(0.01) |
|||||||||||||||||||||||||||
|
2016 YTD Adjusted Earnings Per Share, Diluted |
$ |
0.96 |
$ |
0.05 |
$ |
0.04 |
$ |
0.17 |
$ |
(0.09) |
$ |
— |
$ |
1.13 |
||||||||||||||||||||
|
Change in share count (a) |
(0.02) |
— |
— |
— |
— |
— |
(0.02) |
|||||||||||||||||||||||||||
|
Weather |
(0.14) |
(0.01) |
— |
— |
— |
— |
(0.15) |
|||||||||||||||||||||||||||
|
Volume |
0.01 |
— |
— |
— |
— |
— |
0.01 |
|||||||||||||||||||||||||||
|
Pricing and Riders |
0.03 |
— |
— |
— |
— |
— |
0.03 |
|||||||||||||||||||||||||||
|
Wholesale |
— |
— |
— |
— |
— |
— |
— |
|||||||||||||||||||||||||||
|
Operations and maintenance, net of recoverables (b) |
0.08 |
— |
— |
— |
— |
— |
0.08 |
|||||||||||||||||||||||||||
|
Piedmont Natural Gas contribution |
— |
0.14 |
— |
— |
— |
— |
0.14 |
|||||||||||||||||||||||||||
|
Mid-Stream Gas Pipelines (c) |
— |
0.01 |
— |
— |
— |
— |
0.01 |
|||||||||||||||||||||||||||
|
Duke Energy Renewables (d) |
— |
— |
— |
— |
— |
— |
— |
|||||||||||||||||||||||||||
|
National Methanol Company (NMC) |
— |
— |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||||||||||||||
|
Other (e) |
0.03 |
— |
— |
— |
0.01 |
— |
0.04 |
|||||||||||||||||||||||||||
|
Interest Expense |
(0.03) |
— |
— |
— |
(0.02) |
— |
(0.05) |
|||||||||||||||||||||||||||
|
Change in effective income tax rate |
(0.01) |
— |
— |
(0.10) |
(0.01) |
— |
(0.12) |
|||||||||||||||||||||||||||
|
Latin America, including foreign exchange rates |
— |
— |
— |
(0.07) |
— |
— |
(0.07) |
|||||||||||||||||||||||||||
|
2017 YTD Adjusted Earnings Per Share, Diluted |
$ |
0.91 |
$ |
0.19 |
$ |
0.04 |
$ |
— |
$ |
(0.10) |
$ |
— |
$ |
1.04 |
||||||||||||||||||||
|
Costs to Achieve Piedmont Merger |
— |
— |
— |
— |
(0.02) |
— |
(0.02) |
|||||||||||||||||||||||||||
|
2017 YTD Reported Earnings Per Share, Diluted |
$ |
0.91 |
$ |
0.19 |
$ |
0.04 |
$ |
— |
$ |
(0.12) |
$ |
— |
$ |
1.02 |
||||||||||||||||||||
|
Note 1: Prior period amounts have been recast to conform to the current segment structure. Results of NMC are included within Other. | ||||||||||||||||||||||||||||||||||
|
Note 2: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all drivers except Duke Energy Renewables, which uses an effective rate. | ||||||||||||||||||||||||||||||||||
|
(a) Due to the Q4 2016 share issuance used to partially fund the Piedmont acquisition. Weighted average diluted shares outstanding increased from 689 million shares to 700 million shares. | ||||||||||||||||||||||||||||||||||
|
(b) Primarily due to ongoing cost control and lower storm restoration costs. | ||||||||||||||||||||||||||||||||||
|
(c) Primarily due to higher earnings from the equity method investment in ACP. Earnings from Piedmont's acquired investments are included in the "Piedmont Natural Gas contribution" driver. | ||||||||||||||||||||||||||||||||||
|
(d) For Commercial Renewables, higher earnings from new wind projects placed in service (+$0.01) were offset by lower solar ITCs in the current year (-$0.01 per share). | ||||||||||||||||||||||||||||||||||
|
(e) Electric Utilities and Infrastructure is primarily due to higher AFUDC equity (+$0.03). | ||||||||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
March 2017 | ||||||||||||
|
Three Months Ended March 31, | ||||||||||||
|
2017 |
2016 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||
|
GWh Sales (1) |
||||||||||||
|
Residential |
20,065 |
21,662 |
(7.4%) |
(0.7%) |
||||||||
|
General Service |
17,549 |
17,850 |
(1.7%) |
0.5% |
||||||||
|
Industrial |
12,305 |
12,272 |
0.3% |
0.8% |
||||||||
|
Other Energy Sales |
144 |
146 |
(1.4%) |
|||||||||
|
Unbilled Sales |
(935) |
(344) |
(171.8%) |
n/a |
||||||||
|
Total Retail Sales |
49,128 |
51,586 |
(4.8%) |
0.1% |
||||||||
|
Special Sales |
9,862 |
11,145 |
(11.5%) |
|||||||||
|
Total Consolidated Electric Sales - Electric Utilities and Infrastructure |
58,990 |
62,731 |
(6.0%) |
|||||||||
|
Average Number of Customers (Electric) |
||||||||||||
|
Residential |
6,510,679 |
6,425,427 |
1.3% |
|||||||||
|
General Service |
968,897 |
957,484 |
1.2% |
|||||||||
|
Industrial |
17,748 |
17,936 |
(1.0%) |
|||||||||
|
Other Energy Sales |
23,205 |
23,112 |
0.4% |
|||||||||
|
Total Regular Sales |
7,520,529 |
7,423,959 |
1.3% |
|||||||||
|
Special Sales |
58 |
62 |
(6.5%) |
|||||||||
|
Total Average Number of Customers - Electric Utilities and Infrastructure |
7,520,587 |
7,424,021 |
1.3% |
|||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||
|
Generated - Net Output (3) |
||||||||||||
|
Coal |
16,939 |
17,934 |
(5.5%) |
|||||||||
|
Nuclear |
17,741 |
17,999 |
(1.4%) |
|||||||||
|
Hydro |
201 |
1,047 |
(80.8%) |
|||||||||
|
Oil and Natural Gas |
14,231 |
16,083 |
(11.5%) |
|||||||||
|
Renewable Energy |
75 |
53 |
41.5% |
|||||||||
|
Total Generation (4) |
49,187 |
53,116 |
(7.4%) |
|||||||||
|
Purchased Power and Net Interchange (5) |
12,568 |
12,513 |
0.4% |
|||||||||
|
Total Sources of Energy |
61,755 |
65,629 |
(5.9%) |
|||||||||
|
Less: Line Loss and Other |
2,765 |
2,898 |
(4.6%) |
|||||||||
|
Total GWh Sources |
58,990 |
62,731 |
(6.0%) |
|||||||||
|
Owned MW Capacity (3) |
||||||||||||
|
Summer |
49,950 |
50,157 |
||||||||||
|
Winter |
53,717 |
53,346 |
||||||||||
|
Nuclear Capacity Factor (%) (6) |
94 |
95 |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||
|
Duke Energy Carolinas | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||
|
March 2017 | ||||||||||||
|
Three Months Ended March 31, | ||||||||||||
|
2017 |
2016 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||
|
GWh Sales (1) |
||||||||||||
|
Residential |
6,871 |
7,580 |
(9.4%) |
|||||||||
|
General Service |
6,527 |
6,664 |
(2.1%) |
|||||||||
|
Industrial |
5,062 |
5,078 |
(0.3%) |
|||||||||
|
Other Energy Sales |
76 |
76 |
—% |
|||||||||
|
Unbilled Sales |
(232) |
5 |
(4,740.0%) |
|||||||||
|
Total Retail Sales |
18,304 |
19,403 |
(5.7%) |
(0.1%) |
||||||||
|
Special Sales |
2,477 |
2,222 |
11.5% |
|||||||||
|
Total Consolidated Electric Sales - Duke Energy Carolinas |
20,781 |
21,625 |
(3.9%) |
|||||||||
|
Average Number of Customers |
||||||||||||
|
Residential |
2,169,345 |
2,138,535 |
1.4% |
|||||||||
|
General Service |
351,773 |
347,329 |
1.3% |
|||||||||
|
Industrial |
6,252 |
6,333 |
(1.3%) |
|||||||||
|
Other Energy Sales |
15,298 |
15,133 |
1.1% |
|||||||||
|
Total Regular Sales |
2,542,668 |
2,507,330 |
1.4% |
|||||||||
|
Special Sales |
24 |
24 |
—% |
|||||||||
|
Total Average Number of Customers - Duke Energy Carolinas |
2,542,692 |
2,507,354 |
1.4% |
|||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||
|
Generated - Net Output (3) |
||||||||||||
|
Coal |
5,586 |
5,579 |
0.1% |
|||||||||
|
Nuclear |
11,036 |
10,993 |
0.4% |
|||||||||
|
Hydro |
53 |
725 |
(92.7%) |
|||||||||
|
Oil and Natural Gas |
2,694 |
2,986 |
(9.8%) |
|||||||||
|
Renewable Energy |
9 |
3 |
200.0% |
|||||||||
|
Total Generation (4) |
19,378 |
20,286 |
(4.5%) |
|||||||||
|
Purchased Power and Net Interchange (5) |
2,483 |
2,619 |
(5.2%) |
|||||||||
|
Total Sources of Energy |
21,861 |
22,905 |
(4.6%) |
|||||||||
|
Less: Line Loss and Other |
1,080 |
1,280 |
(15.6%) |
|||||||||
|
Total GWh Sources |
20,781 |
21,625 |
(3.9%) |
|||||||||
|
Owned MW Capacity (3) |
||||||||||||
|
Summer |
19,568 |
19,678 |
||||||||||
|
Winter |
20,425 |
20,383 |
||||||||||
|
Nuclear Capacity Factor (%) (6) |
98 |
97 |
||||||||||
|
Heating and Cooling Degree Days |
||||||||||||
|
Actual |
||||||||||||
|
Heating Degree Days |
1,291 |
1,661 |
(22.3%) |
|||||||||
|
Cooling Degree Days |
10 |
19 |
(47.4%) |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(26.2%) |
(5.9%) |
n/a |
|||||||||
|
Cooling Degree Days |
66.7% |
171.4% |
n/a |
|||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||
|
Duke Energy Progress | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||
|
March 2017 | ||||||||||||
|
Three Months Ended March 31, | ||||||||||||
|
2017 |
2016 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||
|
GWh Sales (1) |
||||||||||||
|
Residential |
4,633 |
5,000 |
(7.3%) |
|||||||||
|
General Service |
3,549 |
3,660 |
(3.0%) |
|||||||||
|
Industrial |
2,489 |
2,439 |
2.1% |
|||||||||
|
Other Energy Sales |
21 |
24 |
(12.5%) |
|||||||||
|
Unbilled Sales |
(500) |
(135) |
(270.4%) |
|||||||||
|
Total Retail Sales |
10,192 |
10,988 |
(7.2%) |
(0.7%) |
||||||||
|
Special Sales |
5,445 |
6,161 |
(11.6%) |
|||||||||
|
Total Consolidated Electric Sales - Duke Energy Progress |
15,637 |
17,149 |
(8.8%) |
|||||||||
|
Average Number of Customers |
||||||||||||
|
Residential |
1,302,464 |
1,285,880 |
1.3% |
|||||||||
|
General Service |
230,405 |
227,523 |
1.3% |
|||||||||
|
Industrial |
4,129 |
4,159 |
(0.7%) |
|||||||||
|
Other Energy Sales |
1,462 |
1,601 |
(8.7%) |
|||||||||
|
Total Regular Sales |
1,538,460 |
1,519,163 |
1.3% |
|||||||||
|
Special Sales |
14 |
15 |
(6.7%) |
|||||||||
|
Total Average Number of Customers - Duke Energy Progress |
1,538,474 |
1,519,178 |
1.3% |
|||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||
|
Generated - Net Output (3) |
||||||||||||
|
Coal |
1,644 |
2,107 |
(22.0%) |
|||||||||
|
Nuclear |
6,705 |
7,006 |
(4.3%) |
|||||||||
|
Hydro |
103 |
253 |
(59.3%) |
|||||||||
|
Oil and Natural Gas |
5,836 |
6,472 |
(9.8%) |
|||||||||
|
Renewable Energy |
62 |
50 |
24.0% |
|||||||||
|
Total Generation (4) |
14,350 |
15,888 |
(9.7%) |
|||||||||
|
Purchased Power and Net Interchange (5) |
1,824 |
1,765 |
3.3% |
|||||||||
|
Total Sources of Energy |
16,174 |
17,653 |
(8.4%) |
|||||||||
|
Less: Line Loss and Other |
537 |
504 |
6.5% |
|||||||||
|
Total GWh Sources |
15,637 |
17,149 |
(8.8%) |
|||||||||
|
Owned MW Capacity (3) |
||||||||||||
|
Summer |
12,827 |
12,935 |
||||||||||
|
Winter |
14,034 |
14,034 |
||||||||||
|
Nuclear Capacity Factor (%) (6) |
88 |
91 |
||||||||||
|
Heating and Cooling Degree Days |
||||||||||||
|
Actual |
||||||||||||
|
Heating Degree Days |
1,203 |
1,514 |
(20.5%) |
|||||||||
|
Cooling Degree Days |
10 |
36 |
(72.2%) |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(25.6%) |
(7.1%) |
n/a |
|||||||||
|
Cooling Degree Days |
11.1% |
260.0% |
n/a |
|||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||
|
Duke Energy Florida | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||
|
March 2017 | ||||||||||||
|
Three Months Ended March 31, | ||||||||||||
|
2017 |
2016 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||
|
GWh Sales (1) |
||||||||||||
|
Residential |
3,824 |
4,173 |
(8.4%) |
|||||||||
|
General Service |
3,254 |
3,241 |
0.4% |
|||||||||
|
Industrial |
755 |
752 |
0.4% |
|||||||||
|
Other Energy Sales |
6 |
6 |
—% |
|||||||||
|
Unbilled Sales |
156 |
(11) |
1,518.2% |
|||||||||
|
Total Retail Sales |
7,995 |
8,161 |
(2.0%) |
3.1% |
||||||||
|
Special Sales |
310 |
295 |
5.1% |
|||||||||
|
Total Electric Sales - Duke Energy Florida |
8,305 |
8,456 |
(1.8%) |
|||||||||
|
Average Number of Customers |
||||||||||||
|
Residential |
1,564,038 |
1,541,555 |
1.5% |
|||||||||
|
General Service |
197,422 |
194,707 |
1.4% |
|||||||||
|
Industrial |
2,156 |
2,202 |
(2.1%) |
|||||||||
|
Other Energy Sales |
1,524 |
1,536 |
(0.8%) |
|||||||||
|
Total Regular Sales |
1,765,140 |
1,740,000 |
1.4% |
|||||||||
|
Special Sales |
12 |
13 |
(7.7%) |
|||||||||
|
Total Average Number of Customers - Duke Energy Florida |
1,765,152 |
1,740,013 |
1.4% |
|||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||
|
Generated - Net Output (3) |
||||||||||||
|
Coal |
2,117 |
1,451 |
45.9% |
|||||||||
|
Oil and Natural Gas |
5,348 |
6,123 |
(12.7%) |
|||||||||
|
Renewable Energy |
4 |
— |
n/a |
|||||||||
|
Total Generation (4) |
7,469 |
7,574 |
(1.4%) |
|||||||||
|
Purchased Power and Net Interchange (5) |
1,296 |
1,509 |
(14.1%) |
|||||||||
|
Total Sources of Energy |
8,765 |
9,083 |
(3.5%) |
|||||||||
|
Less: Line Loss and Other |
460 |
627 |
(26.6%) |
|||||||||
|
Total GWh Sources |
8,305 |
8,456 |
(1.8%) |
|||||||||
|
Owned MW Capacity (3) |
||||||||||||
|
Summer |
9,212 |
8,989 |
||||||||||
|
Winter |
10,332 |
9,894 |
||||||||||
|
Heating and Cooling Degree Days |
||||||||||||
|
Actual |
||||||||||||
|
Heating Degree Days |
176 |
401 |
(56.1%) |
|||||||||
|
Cooling Degree Days |
273 |
199 |
37.2% |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(53.6%) |
4.2% |
n/a |
|||||||||
|
Cooling Degree Days |
49.2% |
7.6% |
n/a |
|||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||
|
Duke Energy Ohio | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||
|
March 2017 | ||||||||||||
|
Three Months Ended March 31, | ||||||||||||
|
2017 |
2016 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||
|
GWh Sales (1) |
||||||||||||
|
Residential |
2,253 |
2,320 |
(2.9%) |
|||||||||
|
General Service |
2,257 |
2,297 |
(1.7%) |
|||||||||
|
Industrial |
1,441 |
1,444 |
(0.2%) |
|||||||||
|
Other Energy Sales |
28 |
27 |
3.7% |
|||||||||
|
Unbilled Sales |
(201) |
(92) |
(118.5%) |
|||||||||
|
Total Retail Sales |
5,778 |
5,996 |
(3.6%) |
(1.1%) |
||||||||
|
Special Sales |
281 |
111 |
153.2% |
|||||||||
|
Total Electric Sales - Duke Energy Ohio |
6,059 |
6,107 |
(0.8%) |
|||||||||
|
Average Number of Customers |
||||||||||||
|
Residential |
759,467 |
753,189 |
0.8% |
|||||||||
|
General Service |
88,141 |
87,441 |
0.8% |
|||||||||
|
Industrial |
2,507 |
2,529 |
(0.9%) |
|||||||||
|
Other Energy Sales |
3,282 |
3,245 |
1.1% |
|||||||||
|
Total Regular Sales |
853,397 |
846,404 |
0.8% |
|||||||||
|
Special Sales |
1 |
1 |
—% |
|||||||||
|
Total Average Number of Customers - Duke Energy Ohio |
853,398 |
846,405 |
0.8% |
|||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||
|
Generated - Net Output (3) |
||||||||||||
|
Coal |
1,203 |
928 |
29.6% |
|||||||||
|
Oil and Natural Gas |
1 |
1 |
—% |
|||||||||
|
Total Generation (4) |
1,204 |
929 |
29.6% |
|||||||||
|
Purchased Power and Net Interchange (5) |
5,466 |
5,555 |
(1.6%) |
|||||||||
|
Total Sources of Energy |
6,670 |
6,484 |
2.9% |
|||||||||
|
Less: Line Loss and Other |
611 |
377 |
62.1% |
|||||||||
|
Total GWh Sources |
6,059 |
6,107 |
(0.8%) |
|||||||||
|
Owned MW Capacity (3) |
||||||||||||
|
Summer |
1,076 |
1,062 |
||||||||||
|
Winter |
1,164 |
1,164 |
||||||||||
|
Heating and Cooling Degree Days |
||||||||||||
|
Actual |
||||||||||||
|
Heating Degree Days |
2,044 |
2,349 |
(13.0%) |
|||||||||
|
Cooling Degree Days |
1 |
— |
—% |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(20.7%) |
(9.5%) |
n/a |
|||||||||
|
Cooling Degree Days |
(75.0%) |
(100.0%) |
n/a |
|||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||
|
Duke Energy Indiana | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||
|
March 2017 | ||||||||||||
|
Three Months Ended March 31, | ||||||||||||
|
2017 |
2016 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||
|
GWh Sales (1) |
||||||||||||
|
Residential |
2,484 |
2,589 |
(4.1%) |
|||||||||
|
General Service |
1,962 |
1,988 |
(1.3%) |
|||||||||
|
Industrial |
2,558 |
2,559 |
—% |
|||||||||
|
Other Energy Sales |
13 |
13 |
—% |
|||||||||
|
Unbilled Sales |
(158) |
(111) |
42.3% |
|||||||||
|
Total Retail Sales |
6,859 |
7,038 |
(2.5%) |
(0.8%) |
||||||||
|
Special Sales |
1,349 |
2,356 |
(42.7%) |
|||||||||
|
Total Electric Sales - Duke Energy Indiana |
8,208 |
9,394 |
(12.6%) |
|||||||||
|
Average Number of Customers |
||||||||||||
|
Residential |
715,365 |
706,268 |
1.3% |
|||||||||
|
General Service |
101,156 |
100,484 |
0.7% |
|||||||||
|
Industrial |
2,704 |
2,713 |
(0.3%) |
|||||||||
|
Other Energy Sales |
1,639 |
1,597 |
2.6% |
|||||||||
|
Total Regular Sales |
820,864 |
811,062 |
1.2% |
|||||||||
|
Special Sales |
7 |
9 |
(22.2%) |
|||||||||
|
Total Average Number of Customers - Duke Energy Indiana |
820,871 |
811,071 |
1.2% |
|||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||
|
Generated - Net Output (3) |
||||||||||||
|
Coal |
6,389 |
7,869 |
(18.8%) |
|||||||||
|
Hydro |
45 |
69 |
(34.8%) |
|||||||||
|
Oil and Natural Gas |
352 |
501 |
(29.7%) |
|||||||||
|
Total Generation (4) |
6,786 |
8,439 |
(19.6%) |
|||||||||
|
Purchased Power and Net Interchange (5) |
1,499 |
1,065 |
40.8% |
|||||||||
|
Total Sources of Energy |
8,285 |
9,504 |
(12.8%) |
|||||||||
|
Less: Line Loss and Other |
77 |
110 |
(30.0%) |
|||||||||
|
Total GWh Sources |
8,208 |
9,394 |
(12.6%) |
|||||||||
|
Owned MW Capacity (3) |
||||||||||||
|
Summer |
7,267 |
7,493 |
||||||||||
|
Winter |
7,762 |
7,871 |
||||||||||
|
Heating and Cooling Degree Days |
||||||||||||
|
Actual |
||||||||||||
|
Heating Degree Days |
2,208 |
2,521 |
(12.4%) |
|||||||||
|
Cooling Degree Days |
— |
— |
—% |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(20.1%) |
(9.3%) |
n/a |
|||||||||
|
Cooling Degree Days |
(100.0%) |
(100.0%) |
n/a |
|||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||
|
Gas Utilities and Infrastructure | |||||||||
|
Quarterly Highlights | |||||||||
|
March 2017 | |||||||||
|
Three Months Ended March 31, | |||||||||
|
2017 |
2016 |
% Inc.(Dec.) | |||||||
|
Total Sales |
|||||||||
|
Piedmont Natural Gas Local Distribution Company (LDC) throughput (dekatherms) (1) (2) |
133,276,787 |
155,446,586 |
(14.3%) |
||||||
|
Duke Energy Midwest LDC throughput (MCF) |
30,830,999 |
34,741,520 |
(11.3%) |
||||||
|
Average Number of Customers - Piedmont Natural Gas (1) |
|||||||||
|
Residential |
954,883 |
940,070 |
1.6% |
||||||
|
Commercial |
101,618 |
100,723 |
0.9% |
||||||
|
Industrial |
2,338 |
2,302 |
1.6% |
||||||
|
Power Generation |
25 |
25 |
—% |
||||||
|
Total Average Number of Gas Customers - Piedmont Natural Gas |
1,058,864 |
1,043,120 |
1.5% |
||||||
|
Average Number of Customers - Duke Energy Midwest |
|||||||||
|
Residential |
484,091 |
480,519 |
0.7% |
||||||
|
Commercial |
45,340 |
45,224 |
0.3% |
||||||
|
Industrial |
1,669 |
1,699 |
(1.8%) |
||||||
|
Other Energy Sales |
141 |
143 |
(1.4%) |
||||||
|
Total Average Number of Gas Customers - Duke Energy Midwest |
531,241 |
527,585 |
0.7% |
||||||
|
(1) Sales and customer data for Piedmont Natural Gas include amounts prior to the acquisition on October 3, 2016, for comparative purposes. Duke Energy's consolidated financial results for 2016 do not include Piedmont's results of operations prior to the date of acquisition. | |||||||||
|
(2) Piedmont has a margin decoupling mechanism in North Carolina and weather normalization mechanisms in South Carolina and Tennessee that significantly eliminate the impact of throughput changes on earnings. Duke Energy Ohio's rate design also serves to offset this impact. | |||||||||
|
Commercial Renewables | |||||||||
|
Quarterly Highlights | |||||||||
|
March 2017 | |||||||||
|
Three Months Ended March 31, | |||||||||
|
2017 |
2016 |
% Inc.(Dec.) | |||||||
|
Actual Renewable Plant Production, GWh |
2,285 |
2,060 |
10.9% |
||||||
|
Net Proportional MW Capacity in Operation |
2,907 |
1,963 |
48.1% |
||||||
SOURCE Duke Energy
Article Date
5/9/2017Duke Energy will invest heavily in cleaner power, energy grid, natural gas infrastructure, CEO tells shareholders
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 4, 2017 /PRNewswire/ -- Duke Energy will invest heavily in cleaner power, natural gas infrastructure and the energy grid during the next 10 years, CEO Lynn Good told investors during the company's first online shareholder meeting today.
The switch to an online meeting made it easier for shareholders worldwide to participate, without the expense and time required to travel to Charlotte.
"The new format gave small shareholders like me, who live outside Charlotte, a chance to participate in the meeting for the first time," said long-time Duke Energy shareholder Lester Schwartzman of Boynton Beach, Fla. "The webcast allowed me to hear directly from Lynn Good about the company's strategy, and I was really happy to hear about the investments in the natural gas business."
Good fielded 14 shareholder questions, submitted before and during the meeting. The company soon will post on its website a response to each question submitted.
Cleaner energy through renewables, natural gas
Duke Energy will invest $11 billion to generate cleaner energy through renewables and natural gas as it moves to a low-carbon future, Good told shareholders.
"By retiring coal plants and bringing on more natural gas and renewables, we have already reduced our carbon emissions by nearly 30 percent since 2005. Today, we are among the top five companies in terms of renewable capacity, and we are committed to doing more," she said.
"We have set a new goal to reduce our carbon emissions by 40 percent from the 2005 level by 2030."
Natural gas is expected to increase to 35 percent of the company's electricity generation portfolio during the next 10 years, while renewable energy – such as solar, wind and hydro – will grow to approximately 10 percent, she said.
Modernizing nation's largest energy grid
Meanwhile, Duke Energy's planned $25-billion modernization of its energy grid – the largest grid in the U.S. and "a critical part" of the nation's infrastructure – will provide "improved reliability and the services customers expect," Good said.
"The cornerstone of our comprehensive grid investment is Power/Forward Carolinas, our $13-billion plan to upgrade and strengthen our system in North Carolina."
The grid investments also will enable higher levels of renewable energy, she said.
Infrastructure to meet growing natural gas demand
Duke Energy's natural gas business also will play a key role in the company's future, Good said.
"We're expanding our natural gas infrastructure to supply our plants and customers with this cleaner fuel.
"With Piedmont in the fold, we now operate a five-state gas distribution business and have investments in natural gas pipelines that will supply customers in the eastern United States. Through these investments, we will double the earnings contribution of our natural gas business by 2026," she said.
Transformative year
Good called 2016 "a pivotal year" for the company as it advanced its "transformation" into the future "while providing customers safe, reliable energy."
Duke Energy's 2016 sale of its Latin American assets and acquisition of Piedmont Natural Gas – key components of the company's portfolio transition – will help ensure future financial strength and stable earnings growth, she said.
"With our portfolio transition complete, today's Duke Energy operates as a premier, regulated energy company, focused on delivering value for our customers and growth for our investors."
Customer focused
Customer service and customer satisfaction also continue to rank among the company's top priorities, Good said.
"We're focused on creating smarter solutions" that give customers "more control and convenience.
"We're connecting with customers through new tools like outage alerts and usage updates. We're also offering free home energy audits and a menu of energy-saving tips, programs and incentives. And this is just the start."
The company knows "that every dollar counts," she said. "I'm proud to say that Duke Energy's electric rates were below the national average across our six states, and we're committed to efficient operations to keep bills low."
Economic engine, community leader
The company also continues to serve as an economic engine in the communities and states it serves – in 2016, helping to attract $4.1 billion in capital investment that led to the creation of more than 14,000 jobs, Good said.
In addition, the company remains an active community leader and financial contributor through the Duke Energy Foundation.
"In 2016, our total charitable giving was over $53 million," she said.
Shareholders reject 3 proposals
Also at today's meeting, shareholders rejected three non-binding shareholder proposals – none of which received a majority of shares voted, as required to pass:
Separately, a binding company-sponsored corporate governance proposal was not approved after failing to receive 80 percent of total outstanding shares, as required: "Amendment to the Amended and Restated Certificate of Incorporation of Duke Energy Corporation to eliminate supermajority requirements."
Details about the three shareholder proposals and the company-sponsored proposal appear in the company's 2017 proxy statement – https://www.duke-energy.com/_/media/pdfs/our-company/investors/de-annual-reports/2016/2017proxystatement.pdf
Shareholders also elected the 14 board of director nominees, with each receiving at least 93 percent of the shares voted.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
5/4/2017Duke Energy funds available for fish and wildlife habitat enhancement projects along waterways in N.C. and S.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 27, 2017 /PRNewswire/ -- Beginning May 1, 2017, qualifying government agencies and nonprofit organizations are encouraged to submit applications for Duke Energy habitat enhancement programs in North Carolina and South Carolina.
Approximately $4.66 million in funding is available for projects in 2017.
Projects eligible for funding include a wide range of categories − from planting native shoreline vegetation, constructing osprey platforms and wood duck boxes, and installing fish attractors to purchasing property and conservation easements that permanently preserve rare and unique habitats.
Over the past several years, approximately $1.9 million in funding has been awarded for enhancement projects for the Catawba-Wateree and Keowee-Toxaway habitat enhancement programs. Individual project awards typically range from $10,000 to $50,000.
Those interested in seeking funds are encouraged to complete applications online by the July 31, 2017, deadline. Approved projects will receive funds beginning in the fall of 2017.
Catawba-Wateree Habitat Enhancement Program
Qualifying government agencies and nonprofit organizations wanting to enhance, create and protect fish and wildlife habitats along the Catawba-Wateree River are encouraged to submit applications for grants provided by Duke Energy's Catawba-Wateree Habitat Enhancement Program (CWHEP).
For 2017, a total of $1.87 million is available for Catawba-Wateree enhancement projects located in North Carolina. Funds totaling $1.49 million are available for projects located in South Carolina.
Since 2007, about $1.8 million has been awarded to fund Catawba-Wateree projects ranging from construction of waterfowl nesting platforms and boxes to the creation of large underwater reefs for fish habitat.
CWHEP is a cooperative effort by Duke Energy, the North Carolina Wildlife Resources Commission (NCWRC) and the South Carolina Department of Natural Resources (SCDNR).
The program is funded annually from a fee charged to individuals and residential marina developers seeking permits to build piers on the Catawba-Wateree lakes. The Foundation for the Carolinas administers the funds.
Those interested in seeking funds from CWHEP this year are encouraged to complete an application online at Catawba-Wateree Habitat Enhancement Program.
Keowee-Toxaway Habitat Enhancement Program
The Keowee-Toxaway Habitat Enhancement Program (KTHEP) funds projects that create, enhance and protect fish and wildlife habitats along the shores of Lake Keowee and Lake Jocassee, as well as in their watersheds.
For 2017, available funds total $1.3 million. Since 2015, the first year of implementation, the KTHEP has funded projects totaling approximately $140,000 to support fish and avian habitat improvements.
The KTHEP was formed as a result of the Keowee-Toxaway Relicensing Agreement Duke Energy entered into with 16 other stakeholder organizations during the Keowee-Toxaway Hydroelectric Project Federal Energy Regulatory Commission relicensing process.
The program is funded annually from a fee charged to individuals and developers seeking lake use permits for projects on the Keowee-Toxaway lakes, as well as by contributions from Duke Energy. The Foothills Community Foundation administers the funds.
Those interested in seeking funds this year are encouraged to complete an application online at Keowee-Toxaway Habitat Enhancement Program.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,700 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Kim Crawford
24-Hour media line: 800.559.3853
SOURCE Duke Energy
Article Date
4/27/2017Duke Energy's latest Sustainability Report details cleaner energy investments and an aggressive goal to reduce carbon emissions 40 percent by 2030
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 27, 2017 /PRNewswire/ -- A modernized generating fleet and additional investments of $11 billion in cleaner energy are spurring Duke Energy to establish an aggressive carbon dioxide reduction goal: 40 percent from 2005 levels by 2030.
The goals are spelled out in the company's 2016 Sustainability Report, which was issued today. View it online.
"As technology and customers' expectations evolve, Duke Energy is responding by investing in innovative new solutions to power the lives of our customers with reliable, affordable and increasingly clean energy," said Lynn Good, Duke Energy's chairman, president and CEO. "How we generate energy is more important than ever before and we're making long-term investments that will deliver a lower-carbon future."
Duke Energy has been diversifying its generating fleet by retiring older coal units, building state-of-the-art natural gas and coal facilities, and expanding renewables. Today, natural gas provides 28 percent of the electricity Duke Energy produces, and 38 percent of the electricity generated is from zero emission sources, including nuclear, hydropower, wind and solar.
As a result of its system modernization, Duke Energy has reduced carbon dioxide emissions by more than 29 percent since 2005. The company's planned investments over the next decade will build on that progress and further reduce emissions.
Also in the report, the company announced a new goal to lower carbon intensity, measured in pounds of carbon dioxide released per kilowatt-hour of electricity generated, by 45 percent versus 2005 output. In 2016, the company achieved an almost 25 percent reduction in carbon intensity versus 2005.
The Sustainability Report provides details of the company's performance in four key areas – customers, growth, operations and employees. The report also tracks the company's progress on other sustainability goals and programs, such as:
Duke Energy has a long history of being among the top sustainable companies. For 11 straight years, Duke Energy has been a part of the Dow Jones Sustainability Index for North America.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
SOURCE Duke Energy
Article Date
4/27/2017U.S. survey ranks Piedmont Natural Gas a Top Utility Environmental Champion
Source: PR Newswire
CHARLOTTE, N.C., April 26, 2017 /PRNewswire/ -- A new survey of utility customers nationwide has named Piedmont Natural Gas a Top Utility Environmental Champion of 2017 for initiatives such as slashing emissions in its vehicle fleet and making its facilities more energy efficient.
This is the third consecutive year Piedmont has earned the prestigious designation, which is based on a study of nearly 58,000 customers among 130 of the nation's largest residential gas and electric utility providers. Piedmont is one of 40 companies on the list released by Cogent Reports and Market Strategies International.
Cogent Reports conducted surveys among residential electric, natural gas and combination utility customers between the second quarter of 2016 and the first quarter of 2017, asking them to rate their utility company's dedication to environmental stewardship.
"We are thrilled to be recognized as one of Cogent Reports' top utility champions for 2017," said Frank Yoho, head of gas operations for Piedmont Natural Gas, a subsidiary of Duke Energy. "Environmental stewardship is a core value for Piedmont, and we are gratified to know that our customers are aware of and value the many ongoing initiatives Piedmont has undertaken to reduce our impact on our environment and help our customers do the same."
In late March, Piedmont celebrated the opening of a new Leadership in Energy & Environmental Design (LEED)-eligible facility in Fayetteville, N.C. LEED is a green building certification program that recognizes best-in-class sustainable building strategies and practices. Piedmont already operates three LEED-certified facilities in North Carolina – in Charlotte, Rockingham and Tarboro – and one in Nashville.
Piedmont also has taken a lead role in championing the use of cleaner, lower-cost compressed natural gas (CNG) as a transportation fuel, resulting in a surge in CNG demand from trucks and other fleet vehicles. Piedmont is nearing completion of its 11th public CNG refueling station, located near the junction of Interstate 40 and U.S. 321 in Hickory. And the company has converted about one-third of its own corporate fleet of approximately 900 vehicles to run on CNG.
About Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 800.559.3853
Jennifer.sharpe@duke-energy.com
SOURCE Duke Energy
Article Date
4/26/20174/17/2017 - Honoring the heroes who power our communities
Honoring the heroes who power our communities
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 17, 2017 /PRNewswire/ -- Building and maintaining the system that powers the lives of millions of people is no easy feat, and not for the faint of heart.
Whether they are climbing a 40-foot pole or sky-high in an elevated bucket truck, line workers help return life to normal after storms, accidents and natural disasters. They ensure the electron lifeblood of every community continues to flow no matter the situation.
And their work is creating a smarter energy future by making the energy grid more resilient, reliable and secure, helping to stimulate economic growth.
"Linemen are highly skilled professionals working every day to ensure our energy grid is doing its job to provide power for our families and communities," said Rep. David Rouzer (R-N.C.), the lead sponsor of a congressional resolution recognizing Lineman Appreciation Day on April 18, 2017. "They deserve recognition for their brave and vital work and I'm proud to join with my colleagues in Congress to honor the heroic contributions of our linemen."
"Powering the lives of hard-working families and communities is the most important job we have at Duke Energy, and line workers are critical to this duty," said David Fountain, Duke Energy's North Carolina president. "Customers expect us to deliver electricity that is reliable, affordable and increasingly clean, while also making smart investments that help communities and local economies thrive by providing more value and more choice every day."
More than 5,000 line workers are part of Duke Energy. They, along with thousands of contract line workers, are responsible for constructing, operating and maintaining equipment and more than 295,000 miles of power lines that serve over 7 million customers – representing a population of more than 24 million people – across its service territories.
Those who wish to honor line workers and their families are encouraged to use the hashtag #ThankALineman in social media.
For more information about Duke Energy's line workers, follow @DukeEnergy and visit www.facebook.com/DukeEnergy.
To view a video of what a day in the life of a line worker is like, visit: http://illumination.duke-energy.com/articles/video:-a-day-in-the-life-of-a-lineworker
To view a letter from a lineman's wife expressing her appreciation for her husband's job serving the community, visit: http://illumination.duke-energy.com/articles/my-husband-the-lineman.
Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
Twitter: @DE_MeghanM
SOURCE Duke Energy
Article Date
4/17/2017Duke Energy embarks on a 10-year initiative to strengthen North Carolina's energy grid
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 12, 2017 /PRNewswire/ -- Duke Energy today announced Power/Forward Carolinas -- a $13 billion, 10-year project to modernize the state's electric system.
These upgrades will harden the system against storms and outages; make it safer and more resilient against cyber-attacks and physical threats; help expand renewable energy; generate jobs and stimulate economic growth.
It will also give 7 million people in North Carolina more information to manage their energy use.
"Safely powering the lives of hard-working families and maintaining the vitality of our communities are our most important responsibilities," said David Fountain, Duke Energy's North Carolina president. "When we improve our energy infrastructure, we not only improve power quality and reliability for everyone, but we help grow our economy and create jobs while keeping energy at a reasonable price."
Duke Energy's 10-year modernization plan for NC will result in:
Modernizing the electric system
Meeting the demands of today's technological and customer-driven changes to North Carolina's grid — the sixth-largest in the nation — is becoming more challenging. Duke Energy's Power/Forward Carolinas initiative will help the company better serve its customers with focused investments that:
"We must embrace a forward-thinking approach to building a smarter energy future for North Carolina," Fountain said. "We have been working hard to generate cleaner, smarter electricity, and now we must invest to make the system that delivers that energy even smarter."
For more information on Duke Energy's Power/Forward Carolinas plan to build a smarter energy future, visit www.duke-energy.com/our-company/future.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Relations:
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
4/12/2017Duke Energy and Piedmont Natural Gas commit $5 million for workforce development at N.C. Community Colleges
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RALEIGH, N.C., April 7, 2017 /PRNewswire/ -- Duke Energy and Piedmont Natural Gas today announced an additional $5 million investment to connect community college students with career development opportunities, bringing the company's total investment to $35 million over the last 13 years. These funds support the company's philanthropic focus on economic and workforce development.
The grants will be open to community colleges throughout the state for apprenticeship and pre-apprenticeship programs, giving students hands-on experience and businesses access to a pipeline of skilled workers. In June 2016, Duke Energy announced that it hit its $30 million investment milestone with 49 N.C. community colleges receiving grants to equip students with industry-specific training, and to develop programs such as robotics, welding, mechatronics, and other high-skilled areas with growing demand in North Carolina.
"The NC Community College System is appreciative of the investment Duke Energy and Piedmont Natural Gas are making in our students," said system President James Williamson, Ph.D. "The apprenticeship experience can be incredibly valuable to our students and we look forward to working with industry and business partners to put our students to work."
"Duke Energy is committed to building a smarter energy future to benefit all North Carolinians, which requires making smart investments in our workforce," said David Fountain, Duke Energy's North Carolina president. "As we continue to add jobs in North Carolina, our state's community colleges are key to developing the skilled workers that our company – and others across the state – rely on."
"Apprenticeships in North Carolina are training people for high-quality jobs, helping businesses find qualified workers, and setting the stage for long-term economic prosperity," said N.C. Department of Commerce Secretary Anthony Copeland. "This grant reinforces the Department of Commerce's commitment to helping businesses develop a pipeline of talent through strong partnerships with NCWorks Apprenticeship and their local community colleges."
The application process will open on June 1 with a letter of intent, and specific directions will be available then at the Foundation For The Carolinas website (Duke Energy Carolinas customers and Piedmont Natural Gas customers in western NC) and North Carolina Community Foundation website (Duke Energy Progress customers and Piedmont Natural Gas customers in eastern NC). Applications will be reviewed by a committee of representatives from Duke Energy, NC Community College System and NC Department of Commerce.
NC Community College System
With 58 colleges located across our state and nearly 840,000 students, the North Carolina Community College System is one of the largest institutions of higher education in the United States and is internationally recognized for its programs supporting economic and workforce development. Learn more at www.nccommunitycolleges.edu. Follow NC Community Colleges on Twitter and Facebook.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at http://duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie, Duke Energy
Office: 919.546.2109 | 24-Hour: 800.559.3853
Email: meredith.archie@duke-energy.com
Twitter: @DE_MeredithA
SOURCE Duke Energy
Article Date
4/7/2017Duke Energy Renewables and REC Solar announce the completion of their first joint microgrid project with Schneider Electric
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 6, 2017 /PRNewswire/ -- Duke Energy Renewables today announced its first microgrid project is now operating on the Schneider Electric Boston One Campus.
Schneider Electric built the microgrid on the campus of its North American headquarters in Andover, Mass. REC Solar, a national provider of commercial solar and energy solutions, built and will operate the solar array.
Duke Energy Renewables, which owns a majority interest in REC Solar, owns the microgrid system and solar array and is selling the power to Schneider Electric through a long-term power purchase agreement.
"The integration of an advanced microgrid at the Schneider Electric campus reduces its energy costs, incorporates more sustainable energy and delivers demand-side efficiency, while also offering resiliency to the facility in the event of a loss of power from the grid," said Chris Fallon, vice president of Duke Energy Renewables and Commercial Portfolio. "Additionally, in partnership with Schneider, we can research and develop new microgrid technologies, solutions and applications in a real-world environment."
The microgrid is expected to generate more than 520,000 kilowatt-hours (kWh) of electricity per year. It includes a 354-kilowatt (AC) solar array with 1,379 solar modules that power the system. The microgrid also incorporates a natural gas generator as an anchor resource, allowing the solar panels to operate during grid outages to maintain critical operations.
In addition to the Boston One site, Duke Energy Renewables, Schneider Electric and REC Solar have a second microgrid project underway for the Montgomery County, Maryland, Public Safety Headquarters and Correctional Facility.
Duke Energy Renewables will own the two Montgomery County microgrids, which will consist of a 2-megawatt (AC) solar project and two combined heat and power (CHP) units. The CHP systems will save energy by using waste heat from on-site power generation to heat and cool the buildings.
REC Solar will build and operate the solar facility, and Schneider Electric will design and implement the microgrid project, which is expected to become fully operational in 2018.
"It's more important than ever to meet customers' evolving needs through solutions that are creative, affordable and dependable," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "With more than 100 years of utility experience and an established renewables business, we bring the expertise in generating cleaner energy that will serve to increase the security and sustainability for these county facilities."
"Island mode" capabilities of the microgrids will allow continued operation of Montgomery County's critical facilities for extended periods during power outages.
The Montgomery County microgrids will produce approximately 3.3 million kilowatt-hours of solar energy and 7.4 million kilowatt-hours of CHP each year. Combined, the on-site power generation at these two facilities is anticipated to reduce greenhouse gas emissions by 3,629 metric tons per year.
About Duke Energy Renewables
Duke Energy Renewables primarily acquires, develops, builds and operates wind and solar renewable generation throughout the continental U.S. The portfolio includes nonregulated renewable energy and energy storage assets.
Duke Energy Renewables' renewable energy includes utility-scale wind and solar generation assets which total 2,900 MW across 14 states from 20 commercial wind and 63 solar projects. The power produced from renewable generation is primarily sold through long-term contracts to utilities, electric cooperatives, municipalities and commercial and industrial customers. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About REC Solar
REC Solar is a nationwide leader providing complete commercial, public sector and utility-scale solar solutions. Incorporating experience from more than 580 successful solar installations over 20 years, REC Solar tailors financing and technology solutions to immediately deliver bottom line savings. REC Solar makes solar simple, working seamlessly with customer operations to deliver clean energy for decades. For more information, visit RECSolar.com or call 844-REC-SOLAR (844-732-7652).
About Schneider Electric
Schneider Electric is the global specialist in energy management and automation. With revenues of $26 billion US dollars (25 billion euros) in FY2016, our 160,000+ employees serve customers in over 100 countries, helping them to manage their energy and process in ways that are safe, reliable, efficient and sustainable. From the simplest of switches to complex operational systems, our technology, software and services improve the way our customers manage and automate their operations. Our connected technologies reshape industries, transform cities and enrich lives. At Schneider Electric, we call this Life Is On. www.schneider-electric.us
Contact: Duke Energy, Tammie McGee
800.559.3853
SOURCE Duke Energy
Article Date
4/6/2017Duke Energy to announce first quarter 2017 financial results on May 9
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 4, 2017 /PRNewswire/ -- Duke Energy will release its first quarter 2017 financial results at 7 a.m. ET on Tuesday, May 9.
An earnings conference call for analysts is scheduled from 10 to 11 a.m. ET that day to discuss the first quarter 2017 financial results and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-675-4757 in the United States or 719-325-4760 outside the United States. The confirmation code is 9134940. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 19, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 9134940. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
SOURCE Duke Energy
Article Date
4/4/20174/3/2017 - Cari Boyce to lead Duke Energy Foundation
Cari Boyce to lead Duke Energy Foundation
Source: PR Newswire
CHARLOTTE, N.C., April 3, 2017 /PRNewswire/ -- Duke Energy has named Cari Boyce senior vice president stakeholder strategy and president, Duke Energy Foundation, the company announced today. Previously, Boyce was Duke Energy's vice president of policy, sustainability and stakeholder strategy.
The Duke Energy Foundation annually provides more than $30 million in charitable grants to address the needs of the communities where its customers live and work. The philanthropic funding focuses on kindergarten-to-career, the environment and community impact.
Boyce will report to Julie Janson, executive vice president, external affairs, chief legal officer and corporate secretary. Boyce joined Duke Energy in 2012 following the merger with Progress Energy. She had held various positions at Progress Energy since 2006.
"Cari's experience leading our sustainability and stakeholder engagement activities make her ideally suited to head the Duke Energy Foundation," said Janson. "She has a deep understanding of the needs of our local communities and the positive effect charitable giving and volunteerism can have on those communities."
Boyce is replacing Shawn Heath, who will become chief of staff for Lynn Good, Duke Energy's president, chief executive officer and chairman. Heath will also assume responsibility for the company's Strategy Execution Office, which ensures enterprise-wide coordination on key strategic initiatives, and will continue to be involved in the Charlotte community.
The changes will be effective May 1.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: David Scanzoni
24-hour: 800.559.3853
SOURCE Duke Energy
Article Date
4/3/2017Piedmont Natural Gas marks opening of new Fayetteville facility
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
FAYETTEVILLE, N.C., March 30, 2017 /PRNewswire/ -- Piedmont Natural Gas today celebrated the opening of a new Leadership in Energy & Environmental Design (LEED)-eligible facility to house Piedmont's customer contact center and resource center serving the Fayetteville area.
Piedmont Natural Gas employs approximately 160 associates in the Cumberland County area, most of whom are now located in the new 60,000-square-foot facility at 4740 Corporation Dr. in Fayetteville. The $8M project represents a valuable addition to the county's tax base.
"Piedmont Natural Gas is proud to serve Fayetteville and Cumberland County, and our new customer contact and resource center is a tangible symbol of our commitment to and investment in the communities we serve," said Frank Yoho, head of gas operations for Piedmont Natural Gas, a subsidiary of Duke Energy. "We are very excited about unifying our customer contact and operations teammates in this facility, which will help us as we strive to continually improve the service we provide to our customers."
In addition to the customer contact center and resource center, the new facility also includes space for training, a fabrication shop and warehouse. A 9,000-square-foot utility building and storage shed are also located on the site, and Piedmont plans to relocate a compressed natural gas (CNG) refueling station to the site from its existing Wilkes Road location.
Piedmont intends to pursue LEED certification for the facility. LEED is a green building certification program that recognizes best-in-class sustainable building strategies and practices. For the Fayetteville project, Piedmont opted for the inherently more sustainable choice of renovating an existing structure rather than new construction, reusing and recycling building materials when possible and reducing raw material usage.
Additional design elements that contribute to the project's sustainability include maximizing open space and preserving existing wetlands on the 18-acre site, using a natural gas-driven heat pump to reduce energy use, and incorporating energy-efficient fixtures to reduce water and electricity use.
The Fayetteville project was designed by Charlotte-based architect C DESIGN, which previously worked with Piedmont on four LEED-certified facilities.
Piedmont Natural Gas
Piedmont Natural Gas, a North Carolina corporation, is an energy services company whose principal business is the distribution of natural gas to more than a million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee. Piedmont provides a foundation for establishing a broader strategic natural gas infrastructure platform within Duke Energy to supplement and complement the previous natural gas pipeline investments and the natural gas business located in the Midwest.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Jennifer Sharpe
Office: 704.731.4108 I 24-hour: 800.559.3853
Jennifer.sharpe@duke-energy.com
SOURCE Duke Energy
Article Date
3/30/2017Duke Energy seeks insurance money to help offset coal ash costs
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 29, 2017 /PRNewswire/ -- Duke Energy today issued the following statement in connection with legal action the company is taking against some of its insurance companies seeking payment for liabilities associated with coal ash. The company believes insurance policies issued to it through the mid-1980s may cover some of the costs to comply with new state and federal coal ash laws and regulations. The company asserted claims against more than two dozen insurance companies that, in the past, provided general liability insurance to Duke Energy Carolinas, Duke Energy Progress and their predecessor companies. Since no insurer has agreed to pay these claims, which could total hundreds of millions of dollars, today Duke Energy filed a civil action in North Carolina Superior Court as the next step in the process.
We take very seriously our commitment to customers to manage coal ash in ways that continue to protect people and the environment. We're also working hard to manage cost, including pursuing claims under insurance policies that we believe may cover some of the expenses being incurred in North Carolina and South Carolina. Net proceeds of any insurance monies we collect will benefit customers in the Carolinas, offsetting the total price tag of this important work.
Throughout its history, Duke Energy safely managed coal ash in ways consistent with industry practices and laws and regulations that were in place at the time. Today, we're making great progress protecting the environment around our basins, spending millions of dollars to comply with strict new laws and requirements that we, like other utilities, could not have anticipated decades ago.
These insurance policies were purchased to help protect our customers from new costs imposed in a situation like this, so the prudent and appropriate thing to do is request payment on their behalf.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
3/29/2017Duke Energy, Reading Is Fundamental renew partnership to boost childhood reading skills
Source: PR Newswire
GREENVILLE, S.C., March 22, 2017 /PRNewswire/ -- Following last year's successful pilot program, Duke Energy and Reading Is Fundamental (RIF), the nation's largest children's literacy organization, are partnering for a second consecutive year to minimize the summer slide and improve the reading proficiency of more than 3,000 current second graders in South Carolina.
During the summer months, all children are at risk of losing some of the learning and skills they've acquired over the school year. If the summer learning slide is not addressed at an early age, some children might fall behind as much as three years in reading comprehension by the end of fifth grade. In addition, existing research shows that 75 percent of students who read poorly in third grade, a benchmark for literacy skill building, remain poor readers in high school.
For the pilot year of the program, data was reported from 28 schools comparing second graders' test performance in spring 2016 compared to third graders in fall 2016. More than half of those reporting showed gains or no change in reading proficiency, a successful outcome for the first year of this type of program.
Angela Lisenby, a school reading specialist in McColl, S.C., a small rural town in Marlboro County, reported after last year's program that the books "definitely motivated" children to read. "The students were very excited," she said. "I even had one tell me, 'It feels like Christmas. I've never had my own books.' There was not one child that wasn't engaged."
As part of RIF's Read for Success program, the students receive eight books of their choosing and a book bag, journal and other motivational items to take home to enhance reading over the summer months. Last year, more than 26,000 books went home with students for the summer.
In addition, teachers receive a collection of 35 fiction and nonfiction books for the classroom and school library; printed and online access to enrichment and instructional activities; and in-person and online professional development to effectively implement the program model.
"The unfortunate reality is that six out of 10 low-income families have no age-appropriate books in their homes," said Alicia Levi, president and CEO of RIF. "The eight books and literacy resources students take home at the end of the school year not only motivate them to read over the summer, but more importantly, provide the fundamental building blocks needed to achieve their highest potential."
Families in participating South Carolina schools will be encouraged to take part in the summer book distributions – to begin in the coming weeks – and share stories together to help students develop a love of reading and experience the magic of books.
As with last year, dozens of Duke Energy employees will volunteer at these events, helping distribute books and talking to students about science and technology careers.
RIF will also have available supplemental booklists and fun activities for families to experience reading throughout the summer.
"Reading proficiency is the most important predictor of school success and high school graduation," said Kodwo Ghartey-Tagoe, president of Duke Energy in South Carolina. "Our children are the future leaders of our communities, and it is imperative that we as a company and community contribute to their success."
The program will be available in 36 Title I elementary schools in the Pee Dee region in northeast South Carolina. School districts in the South Carolina program include: Chesterfield, Clarendon, Darlington, Dillon, Lee, Marion, Marlboro, and Williamsburg.
About Duke Energy
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy (NYSE: DUK) employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Reading Is Fundamental
Reading Is Fundamental (RIF) is committed to a literate America by inspiring a passion for reading among all children, providing quality content to create impact, and engaging communities in the solution to give every child the fundamentals for success. As a champion for children's literacy since 1966, RIF has provided more than 412 million books to 40 million RIF kids over 50 years, inspiring generations to read, learn and grow. Sign up for our newsletter at www.rif.org and follow us on Twitter and Facebook to learn more.
Ryan Mosier, Duke Energy
24-Hour: 800.559.3853
Ryan.Mosier@duke-energy.com
Aubrey Bourgeois, Reading Is Fundamental
202.536.3438
abourgeois@rif.org
SOURCE Duke Energy
Article Date
3/22/2017Duke Energy Carolinas proposes annual update to charges related to fuel, renewable energy, energy efficiency programs
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 9, 2017 /PRNewswire/ -- Duke Energy Carolinas this week made its annual filings with the North Carolina Utilities Commission (NCUC) for costs associated with fuel, compliance with the state's renewable energy portfolio standard (REPS), and implementation of energy efficiency (EE) and demand-side management (DSM) programs.
For the first time since 2011, Duke Energy Carolinas customers in North Carolina will see a slight increase in their monthly energy bill related to fuel charges if the company's annual filings are approved by the NCUC.
If approved by the commission, typical residential customers using 1,000 kilowatt-hours per month would see an increase of about $2.60, or around 2.5 percent, from $103.98 to $106.58. This would cover all of the proposed changes (fuel, REPS, DSM, EE).
Last year, monthly bills decreased by more than $3 when these annual charges were approved by the NCUC. As with the fuel charge decreases the company's customers have experienced since 2011, the proposed increase this year would affect the bills of all Duke Energy Carolinas customers in North Carolina. The company's other North Carolina utility - Duke Energy Progress - will make its annual filings in June.
By law, the company makes no profit from the fuel component of rates.
What's driving the increase
Duke Energy Carolinas makes a fuel cost-recovery filing annually in North Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection.
This year's proposed increase is primarily the result of a net loss from the sale of beneficial generation byproducts, such as gypsum and coal ash. While the sales resulted in a net loss, beneficially reusing byproducts can provide potential savings to customers when compared to other disposal methods.
Renewable Energy/Energy Efficiency
Duke Energy Carolinas has filed to recover the costs of implementing a suite of programs designed to help reduce customers' energy consumption and save them money on their energy bills. The residential increase is primarily due to increased participation in these programs.
For non-residential customers, the fee adjustment is the result of increased program costs and participation coupled with the impact of fewer non-residential customers electing to participate in the company's rider.
Duke Energy Carolinas filed for a decrease in the monthly charge to customers for the utility's compliance with the state's renewable energy portfolio standard (REPS). This proposed decrease is primarily due to the return of an overcollection in REPS cost for the 2016 true-up period.
If approved, the new fuel and REPS rates will go into effect Sept. 1, 2017. The EE and DSM rates will go into effect Jan. 1, 2018.
About Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,700 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
SOURCE Duke Energy
Article Date
3/9/2017Duke Energy joins National Consumer Protection Week to warn customers of utility scams
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 7, 2017 /PRNewswire/ -- As part of National Consumer Protection Week this week, Duke Energy is reiterating its warning to customers about the tricks scammers use to steal money, and how customers can protect themselves from falling victim to utility scams.
"Arming customers with information is truly the first line of defense from becoming a scam victim," said Jared Lawrence, Duke Energy vice president of Revenue Services. "Scammers can be persuasive, intimidating and they continually employ new strategies to dupe customers. It is important for customers to stay alert and informed to protect themselves."
Duke Energy is a member of the Utilities United Against Scams collaborative consisting of more than 90 gas, electric and water utility companies across the country and Canada. Members of the organization work across the utility industry and with regulators, law enforcement and other telecommunications partners to help stop scams targeting utility customers.
In November, Utilities United Against Scams implemented a national, week-long campaign focused on how customers can protect themselves from scams and identify the warning signs of a scam. Since the campaign, about 93 percent of Duke Energy customers who reported being targeted by scammers, did not fall for it.
Phone scam history
Under the long-running scam, a customer receives an unsolicited phone call from an individual who falsely claims to be a Duke Energy representative. The scammer warns that Duke Energy will disconnect the customer's electric service if the customer fails to make a payment – usually within a short timeframe.
Scammers have even duplicated the Duke Energy upfront Interactive Voice Response system, so when customers call back phone numbers provided by the scammer, it sounds like a legitimate Duke Energy phone number. Some of these criminals also use caller ID spoofing to replicate Duke Energy's customer service number.
Red flags for scam activity
How to protect yourself
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
Twitter: @DE_MeghanM
SOURCE Duke Energy
Article Date
3/7/2017Duke Energy shareholder meeting moves to live video webcast
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 3, 2017 /PRNewswire/ -- To further improve shareholder communications, Duke Energy will change its annual shareholder meeting to an online-only event using a live video webcast, beginning with its May 4, 2017 meeting, the company announced today.
Duke Energy joins a growing list of more than 100 companies – including Sprint, HP, Nutrisystem and Dynegy – that have moved their shareholder meetings to online-only formats in recent years.
The new format will give Duke Energy's more than 1 million shareholders worldwide access to the meeting, enabling them to participate from any location.
Shareholders will be able to watch management's company update in real time, vote on shareholder proposals and, through a website, submit questions before and during the meeting to Chairman, President and CEO Lynn Good.
"The live webcast will greatly increase our shareholders' access to the meeting, making it easy and inexpensive for them to participate," said Steve Young, Duke Energy executive vice president and chief financial officer.
Shareholder relations experts agree.
"Online shareholder meetings represent a way to use modern technology to enable more shareholders to attend, ask questions and vote their shares from anywhere in the world," said Carl Hagberg, chairman of Carl T. Hagberg and Associates and a nationally known expert on shareholder communications.
"Duke Energy's use of audio and visual components demonstrates its commitment to ensuring that the proceedings are conducted in a careful and transparent way, open to review by all interested parties," Hagberg added.
The online format also will enable Good to answer more shareholder questions, either during the meeting or afterward through a web posting.
Shareholders without computer or internet access to view the webcast will be able to listen to the meeting by calling a toll-free number.
Information about how shareholders can access the webcast is available in Duke Energy's proxy statement.
In a related move, Duke Energy also announced it will move to a new, interactive digital format for its annual report.
After the 2016 Annual Report, to be published in March, the report will no longer be printed in its current form. The company will continue to send printed copies of a slimmer version to shareholders who request them, but will encourage shareholders to view the report online as part of its ongoing environmental stewardship efforts.
The 2016 Sustainability Report, available in April, will be online only.
"Our new online shareholder meeting and changes to our company reports represent significant steps forward for Duke Energy in the digital era, benefiting shareholders and the environment," Young said.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is one of the largest energy holding companies in the United States. Its Electric Utilities and Infrastructure business unit serves approximately 7.5 million customers located in six states in the Southeast and Midwest. The company's Gas Utilities and Infrastructure business unit distributes natural gas to approximately 1.6 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Renewables business unit operates a growing renewable energy portfolio across the United States.
Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Catherine Butler
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
3/3/2017Seven N.C. schools getting a solar boost from Duke Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 1, 2017 /PRNewswire/ -- As part of a $300,000 grant, Duke Energy today announced it would pay 100 percent of the funds needed to install a solar power system at seven North Carolina schools.
Recipient schools:
Schools applied for the grants last year. Working with Raleigh-based nonprofit NC GreenPower and modeled after its Solar Schools program, the initiative will pay the installation costs for rooftop or top-of-pole mounted systems on school property. The program also provides monitoring equipment, training and curriculum to students and teachers.
"These systems will give students a chance to see solar power production firsthand and allow them to learn more about this energy resource," said David Fountain, Duke Energy's North Carolina president. "North Carolina is second in the nation for installed solar power. These seven schools will now be part of the state's success story."
"NC GreenPower is thrilled to collaborate with Duke Energy on this initiative. As a small non-profit funded by donations, our reach with our Solar Schools program is limited. But through this partnership, NC GreenPower can provide greater impact to schools and students who will benefit from this technology," added Vicky McCann, NC GreenPower vice president.
Any K-12 North Carolina school served by Duke Energy Carolinas was eligible to apply for the grant. NC GreenPower will use approved solar installation companies to manage the installation process.
With a renewable energy portfolio spanning more than a dozen states, Duke Energy is one of the nation's leading developers of renewable energy and has invested more than $5 billion in wind and solar projects. The company owns and operates about 35 solar facilities in North Carolina.
The Duke Energy program was part of a recent settlement with the U.S. Environmental Protection Agency and environmental groups.
About NC GreenPower
With the mission of improving the quality of the environment in North Carolina, the nonprofit NC GreenPower was founded in 2003 by Advanced Energy. NC GreenPower helps to connect consumers with renewable energy and carbon offset providers to create positive environmental and economic impacts for our state. All projects supported by the program are located in North Carolina.
In 2015, NC GreenPower launched a new pilot to support solar PV installations at K-12 schools. Contributions to NC GreenPower are tax-deductible. For more information, visit: www.ncgreenpower.org.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Email: Randy.Wheeless@duke-energy.com
Twitter: @DE_RandyW
NC GreenPower contact: Katie Lebrato
Office: 919.857.9026
Email: klebrato@ncgreenpower.org
Twitter: @NCGP
SOURCE Duke Energy
Article Date
3/1/2017Duke Energy board appoints Ted Craver as board member
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 23, 2017 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of former Edison International chairman, president and CEO, Theodore F. ("Ted") Craver Jr., as a new board member, effective March 1, 2017.
"Ted Craver has an extraordinary record of driving transformation in the industry and improving the customer experience, and we are pleased to have him join our board," said Lynn Good, Duke Energy's chairman, president and CEO. "His deep knowledge of the energy sector, coupled with his experience in finance and stakeholder engagement, will be very valuable as our industry continues to evolve."
He will serve on two Duke Energy board committees: Regulatory Policy and Operations, and Finance and Risk Management.
Craver, 65, served as Edison International's CEO from 2008 to 2016. Prior to that, he held several senior-level positions at the company, from 1996 to 2008.
Edison International is the parent company of Southern California Edison, one of the nation's largest utilities, and Edison Energy Group, a portfolio of competitive businesses.
Before joining Edison International, Craver worked for 22 years in the banking and finance industry, including senior-level positions at First Interstate Bancorp.
Craver has served as chairman of the board of both the Edison Electric Institute and the Electric Power Research Institute.
He is a member of the Economic Advisory Council of the Federal Reserve Bank of San Francisco, serves on the advisory board of the Smithsonian National Museum of American History, and is vice chairman of the Autry Museum of the American West.
He also has been a member of the Business Roundtable and served on the California board of The Nature Conservancy.
Craver graduated from the University of Southern California, where he received a bachelor's degree in economics and international relations, and a master of business administration degree.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Tom Williams
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
2/23/2017Duke Energy appoints new VP of federal government affairs and strategic policy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 16, 2017 /PRNewswire/ -- Duke Energy has appointed Louis Renjel as its new vice president of federal government affairs and strategic policy, overseeing federal affairs; Federal Energy Regulatory Commission and gas policy; environmental and energy policy; and sustainability initiatives. Renjel will be based in Washington, D.C. and report to Julie Janson, Duke Energy executive vice president and chief legal officer.
Renjel joins Duke Energy from Jacksonville, Fla.-based transportation company CSX Corp., where he has served as vice president of strategic infrastructure and delivered critical infrastructure, growth and productivity initiatives through public sector engagement, since 2009.
Prior to that position, he served as director of environmental and government affairs at CSX from 2006 to 2008, and director of government relations at Indiana-based Cummins, Inc., from 2003 to 2006.
"Louis Renjel brings to Duke Energy extensive experience working in both the private and public sectors, coupled with a demonstrated ability to advance policies important to his company and its customers," said Janson.
Renjel's public sector experience includes positions as deputy staff director for the U.S. Senate Committee on Environment and Public Works, legislative assistant to U.S. Senator James Inhofe of Oklahoma, and staff member on the U.S. House of Representatives Committee on Energy and Commerce.
He has a master of business administration degree from Duke University, a master's degree in environmental science from Johns Hopkins University, and a bachelor's degree in environmental studies from Randolph-Macon College.
Renjel replaces Cari Boyce, vice president of policy, sustainability and stakeholder strategy, who has led the federal affairs team on an interim basis since August 2016 and will move into a new role at Duke Energy.
Renjel's appointment is effective March 20, 2017.
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Tom Williams
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
2/16/2017Duke Energy reports fourth quarter and full-year 2016 financial results
Source: PR Newswire
CHARLOTTE, N.C., Feb. 16, 2017 /PRNewswire/ --
Duke Energy today announced 2016 full-year reported diluted EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP) of $3.11, compared to $4.05 for the full-year 2015. Duke Energy's full-year 2016 adjusted diluted EPS was $4.69, compared to $4.54 for full-year 2015.
Adjusted diluted EPS excludes the impact of certain items included in GAAP reported diluted EPS. Amounts excluded from adjusted diluted EPS are primarily costs to achieve mergers, certain severance charges, asset impairments, a 2015 charge associated with the Edwardsport IGCC regulatory settlement, and the fourth quarter 2016 loss on sale of International Energy, primarily related to the recognition of cumulative currency translation adjustment losses.
Full-year 2016 adjusted results were driven by favorable weather, strong cost control and benefits from an early close of the Piedmont Natural Gas acquisition, which helped to offset significant storm costs and higher interest expense.
"2016 was a transformational year for Duke Energy as we acquired Piedmont Natural Gas and exited our International business, positioning the company for more consistent earnings and cash flow growth," said Lynn Good, Duke Energy chairman, president and CEO. "We continue to advance our long-term growth strategy to modernize the energy grid, generate cleaner energy and expand natural gas infrastructure. Our employees' commitment to industry-leading operational and safety performance, combined with our unwavering focus on cost management, enabled us to achieve financial results at the high end of our guidance range.
"Our strategy is producing results. By investing in infrastructure our customers value and delivering sustainable growth for our investors, we are confident we will achieve strong results in 2017 and beyond," Good said.
Duke Energy reported a fourth quarter 2016 GAAP loss per share of 33 cents, compared to earnings per share of 69 cents for fourth quarter 2015 primarily related to the loss on the sale of International Energy. Fourth quarter 2016 adjusted diluted EPS was 81 cents, compared to 87 cents for fourth quarter 2015.
As expected, fourth quarter adjusted results were impacted by higher planned O&M expenses and higher interest expense, partially offset by Piedmont's earnings contribution, net of financing costs.
The company has set its 2017 adjusted diluted EPS guidance range of $4.50 to $4.70, and extended its long-term adjusted diluted EPS growth rate of 4 to 6 percent to 2021. The growth rate is anchored to the midpoint of the 2017 adjusted diluted EPS guidance range, or $4.60 per share. The long-term growth rate is supported by an expanded $37 billion growth capital plan, representing an increase of approximately 25 percent from the previous five-year growth capital plan.
Business segment results
In addition to the following summary of fourth quarter 2016 business segment performance, comprehensive tables with detailed earnings per share drivers for the fourth quarter and full year 2016, compared to prior year, are provided on pages 15 and 16, respectively.
The discussion below of the fourth-quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. The tables on pages 24 through 27 present a reconciliation of GAAP reported results to adjusted results.
Due to the Piedmont acquisition and the sale of International Energy in the fourth quarter of 2016, Duke Energy's segment structure has been realigned to include the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables. The remainder of Duke Energy's operations is presented as Other. Other now includes the results of National Methanol Company (NMC), previously included in the International Energy segment, and the results of the Midwest Generation business that was sold in 2015, previously included in the former Commercial Portfolio segment.
Prior periods have been recast to conform to the current segment structure.
Electric Utilities and Infrastructure
On a reported basis, Electric Utilities and Infrastructure recognized fourth quarter 2016 segment income of $483 million, compared to $569 million in the fourth quarter of 2015.
On an adjusted basis, Electric Utilities and Infrastructure recognized fourth quarter 2016 adjusted segment income of $483 million, compared to $588 million in the fourth quarter of 2015. Adjusted diluted EPS was lower by $0.15 per share, excluding a $0.01 decrease due to the common stock issuance of 10.6 million shares used to fund a portion of the Piedmont acquisition.
Lower quarterly results at Electric Utilities and Infrastructure were primarily driven by:
These unfavorable drivers were partially offset by:
Gas Utilities and Infrastructure
Gas Utilities and Infrastructure recognized fourth quarter 2016 reported and adjusted segment income of $89 million, compared to $14 million in the fourth quarter of 2015, an increase of $0.11 per share.
Higher quarterly results at Gas Utilities and Infrastructure were primarily driven by:
Commercial Renewables
On a reported basis, Commercial Renewables recognized fourth quarter 2016 segment income of $10 million, compared to $17 million in the fourth quarter of 2015.
On an adjusted basis, Commercial Renewables recognized fourth quarter 2016 adjusted segment income of $10 million, compared to $19 million in the fourth quarter 2015, a decrease of $0.01 per share.
Lower quarterly results at Commercial Renewables were primarily driven by lower investment tax credits due to lower solar investments, partially offset by higher production tax credits from additional wind facilities placed in service.
Other
Other primarily includes corporate interest expense not allocated to the business units, results from Duke Energy's captive insurance company, and other investments including National Methanol Company, an equity method investment, and the results of the Midwest Generation business that was sold in 2015, previously included in the former Commercial Portfolio segment.
On a reported basis, Other recognized fourth quarter 2016 net expense of $209 million, compared to net expense of $170 million in the fourth quarter of 2015. In addition to the drivers outlined below, quarterly results were impacted by higher costs to achieve mergers, partially offset by lower charges related to cost savings initiatives. These charges were treated as special items and therefore excluded from adjusted earnings.
On an adjusted basis, Other recognized fourth quarter 2016 adjusted net expense of $57 million, compared to adjusted net expense of $75 million in the fourth quarter of 2015, an improvement of $0.02 per share. The decreased net expense was primarily driven by a change in effective tax rate due to an unfavorable tax adjustment in the prior year (+$0.07 per share) partially offset by higher interest expense in 2016 (-$0.03 per share) primarily resulting from the Piedmont Natural Gas acquisition financing.
Duke Energy's consolidated reported effective tax rate for fourth quarter 2016 was 26.6 percent, compared to 29.2 percent in the fourth quarter of 2015. The consolidated adjusted effective tax rate for fourth quarter 2016 was 30.4 percent, compared to 31.4 percent in 2015. Adjusted effective tax rate is a non-GAAP financial measure. The tables on pages 28 and 29 present a reconciliation of the GAAP reported effective tax rate to the adjusted effective tax rate.
Discontinued Operations
For the fourth quarter of 2016, Duke Energy's GAAP reported Loss From Discontinued Operations, net of tax includes a loss on the sale of the International business and other transaction-related costs, partially offset by the operating results of the International business prior to the sale of $40 million. The operating results of $40 million were included in Duke Energy's adjusted earnings for the fourth quarter.
Earnings conference call for analysts
An earnings conference call for analysts is scheduled for 10 a.m. ET today. In addition to discussing the fourth quarter and year-end 2016 financial results, the company will provide its 2017 adjusted diluted earnings per share guidance range and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 888-487-0354 in the United States or 719-457-2506 outside the United States. The confirmation code is 1359293. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Feb. 24, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 1359293. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Special Items and Non-GAAP Reconciliation
The following tables present a reconciliation of GAAP reported to adjusted diluted EPS for fourth quarter and full-year 2016 and 2015 financial results:
|
(In millions, except per-share amounts) |
After-Tax |
4Q 2016 |
4Q 2015 |
||||
|
Diluted EPS, as reported |
$ |
(0.33) |
$ |
0.69 | |||
|
Adjustments to reported EPS: |
|||||||
|
Fourth Quarter 2016 |
|||||||
|
Costs to achieve mergers |
$ |
134 |
0.19 |
||||
|
Cost saving initiatives |
18 |
0.03 |
|||||
|
Discontinued operations(a) |
640 |
0.92 |
|||||
|
Fourth Quarter 2015 |
|||||||
|
Costs to achieve mergers |
18 |
0.03 | |||||
|
Ash basin settlement |
7 |
0.01 | |||||
|
Cost savings initiatives |
88 |
0.13 | |||||
|
Discontinued operations(b) |
9 |
0.01 | |||||
|
Total adjustments |
$ |
1.14 |
$ |
0.18 | |||
|
Diluted EPS, adjusted |
$ |
0.81 |
$ |
0.87 | |||
|
(a) Includes a loss on sale of the International Disposal Group. Represents the GAAP reported Loss from Discontinued Operations less the International Disposal Group operating results, which are included in adjusted earnings. |
|||||||
|
(b) Represents the GAAP reported Loss from Discontinued Operations less the International Disposal Group operating results, which are included in adjusted earnings. |
|||||||
|
(In millions, except per-share amounts) |
After-Tax |
Full-Year |
Full- Year |
||||
|
Diluted EPS, as reported |
$ |
3.11 |
$ |
4.05 | |||
|
Adjustments to reported EPS: |
|||||||
|
Full-Year 2016 |
|||||||
|
Costs to achieve mergers |
$ |
329 |
0.48 |
||||
|
Cost saving initiatives |
57 |
0.08 |
|||||
|
Commercial Renewables impairment |
45 |
0.07 |
|||||
|
Discontinued operations(a) |
661 |
0.95 |
|||||
|
Full-Year 2015 |
|||||||
|
Costs to achieve mergers |
60 |
0.09 | |||||
|
Edwardsport settlement |
58 |
0.08 | |||||
|
Ash basin settlement and penalties |
11 |
0.02 | |||||
|
Cost savings initiatives |
88 |
0.13 | |||||
|
Discontinued operations(b) |
119 |
0.17 | |||||
|
Total adjustments |
$ |
1.58 |
$ |
0.49 | |||
|
Diluted EPS, adjusted |
$ |
4.69 |
$ |
4.54 | |||
|
(a) Includes a loss on sale of the International Disposal Group. Represents the GAAP reported Loss from Discontinued Operations, less the International Disposal Group operating results, which are included in adjusted earnings. |
|||||||
|
(b) Includes the impact of a litigation reserve related to the Midwest Generation Disposal Group. Represents i) GAAP reported Income from Discontinued Operations, less the International Disposal Group operating results and Midwest Generation Disposal Group operating results, which are included in adjusted earnings, and ii) a state tax charge resulting from the completion of the sale of the Midwest Generation Disposal Group but not reported as discontinued operations. |
|||||||
Non-GAAP financial measures
Management evaluates financial performance in part based on non-GAAP financial measures, adjusted earnings and adjusted diluted EPS. These items represent income from continuing operations attributable to Duke Energy, adjusted for the dollar and per-share impact of special items. As discussed below, special items include certain charges and credits, which management believes are not indicative of Duke Energy's ongoing performance. Management believes the presentation of adjusted earnings and adjusted diluted EPS provides useful information to investors, as it provides them with an additional relevant comparison of Duke Energy's performance across periods.
Management uses these non-GAAP financial measures for planning and forecasting, and for reporting financial results to the Duke Energy Board of Directors, employees, stockholders, analysts and investors. Adjusted diluted EPS is also used as a basis for employee incentive bonuses. The most directly comparable GAAP measures for adjusted earnings and adjusted diluted EPS are Net Income Attributable to Duke Energy Corporation and Diluted EPS Attributable to Duke Energy Corporation common stockholders.
Special items included in the periods presented include the following:
Adjusted earnings also include the operating results of the nonregulated Midwest generation business and Duke Energy Retail Sales (collectively, the Midwest Generation Disposal Group) and the International Disposal Group, which have been classified as discontinued operations. Management believes inclusion of the operating results of the Disposal Groups within adjusted earnings and adjusted diluted EPS results is a better reflection of Duke Energy's financial performance during the period.
Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods (such as legal settlements, the impact of regulatory orders, or asset impairments).
Management evaluates segment performance based on segment income and other net expense. Segment income is defined as income from continuing operations attributable to Duke Energy. Segment income includes intercompany revenues and expenses that are eliminated in the Consolidated Financial Statements. Management also uses adjusted segment income as a measure of historical and anticipated future segment performance. Adjusted segment income is a non-GAAP financial measure, as it is based upon segment income adjusted for special items, which are discussed above. Management believes the presentation of adjusted segment income provides useful information to investors, as it provides them with an additional relevant comparison of a segment's performance across periods. The most directly comparable GAAP measure for adjusted segment income or adjusted other net expense is segment income and other net expense.
Due to the forward-looking nature of any forecasted adjusted segment income or adjusted other net expense and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as the company is unable to forecast all special items for future periods, as discussed above.
Duke Energy's adjusted earnings, adjusted diluted EPS, and adjusted segment income may not be comparable to similarly titled measures of another company because other companies may not calculate the measures in the same manner.
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as rooftop solar and battery storage, in our service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric and gas markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes, including extreme weather associated with climate change; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business; operational interruptions to our gas distribution and transmission activities; the availability of adequate interstate pipeline transportation capacity and natural gas supply; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; the credit ratings may be different from what the company and its subsidiaries expect; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; substantial revision to the U.S. tax code, such as changes to the corporate tax rate or a material change in the deductibility of interest; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; and the ability to successfully integrate the natural gas businesses following the acquisition of Piedmont Natural Gas Company, Inc. and realize anticipated benefits.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
|
December 2016 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended |
Years Ended | ||||||||||||||
|
December 31, |
December 31, | ||||||||||||||
|
(In millions, except per-share amounts and where noted) |
2016 |
2015 |
2016 |
2015 | |||||||||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.53 |
$ |
0.62 |
$ |
3.71 |
$ |
3.80 |
|||||||
|
Diluted |
$ |
0.53 |
$ |
0.62 |
$ |
3.71 |
$ |
3.80 |
|||||||
|
(Loss) Income from discontinued operations attributable to Duke Energy |
|||||||||||||||
|
Basic |
$ |
(0.86) |
$ |
0.07 |
$ |
(0.60) |
$ |
0.25 |
|||||||
|
Diluted |
$ |
(0.86) |
$ |
0.07 |
$ |
(0.60) |
$ |
0.25 |
|||||||
|
Net (loss) income attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
(0.33) |
$ |
0.69 |
$ |
3.11 |
$ |
4.05 |
|||||||
|
Diluted |
$ |
(0.33) |
$ |
0.69 |
$ |
3.11 |
$ |
4.05 |
|||||||
|
Weighted average shares outstanding |
|||||||||||||||
|
Basic |
699 |
688 |
691 |
694 |
|||||||||||
|
Diluted |
699 |
688 |
691 |
694 |
|||||||||||
|
INCOME (LOSS) BY BUSINESS SEGMENT |
|||||||||||||||
|
Electric Utilities and Infrastructure(a) |
$ |
483 |
$ |
569 |
$ |
3,040 |
$ |
2,819 |
|||||||
|
Gas Utilities and Infrastructure(b) |
89 |
14 |
152 |
73 |
|||||||||||
|
Commercial Renewables(c) |
10 |
17 |
23 |
52 |
|||||||||||
|
Total Reportable Segment Income |
582 |
600 |
3,215 |
2,944 |
|||||||||||
|
Other(d)(e)(f)(g) |
(209) |
(170) |
(645) |
(299) |
|||||||||||
|
Intercompany Eliminations |
1 |
— |
1 |
— |
|||||||||||
|
(Loss) Income from Discontinued Operations, net of tax(h) |
(601) |
47 |
(419) |
171 |
|||||||||||
|
Net (Loss) Income Attributable to Duke Energy Corporation |
$ |
(227) |
$ |
477 |
$ |
2,152 |
$ |
2,816 |
|||||||
|
CAPITALIZATION |
|||||||||||||||
|
Total Common Equity (%) |
45% |
48% |
|||||||||||||
|
Total Debt (%) |
55% |
52% |
|||||||||||||
|
Total Debt |
$ |
50,382 |
$ |
42,501 |
|||||||||||
|
Book Value Per Share |
$ |
58.63 |
$ |
57.78 |
|||||||||||
|
Actual Shares Outstanding |
700 |
688 |
|||||||||||||
|
CAPITAL AND INVESTMENT EXPENDITURES |
|||||||||||||||
|
Electric Utilities and Infrastructure(i) |
$ |
2,070 |
$ |
1,721 |
$ |
6,649 |
$ |
6,852 |
|||||||
|
Gas Utilities and Infrastructure(j) |
5,242 |
72 |
5,519 |
234 |
|||||||||||
|
Commercial Renewables |
428 |
343 |
857 |
1,019 |
|||||||||||
|
Other(k) |
124 |
59 |
190 |
258 |
|||||||||||
|
Total Capital and Investment Expenditures |
$ |
7,864 |
$ |
2,195 |
$ |
13,215 |
$ |
8,363 |
|||||||
|
Note: Prior period amounts have been restated to conform to the current segment structure. | |||||||||||||||
|
(a) Includes a charge of $58 million (net of tax of $35 million) related to the Edwardsport settlement for the year ended December 31, 2015. | |||||||||||||||
|
(b) Includes $67 million of Piedmont's earnings for the three months and year ended December 31, 2016. | |||||||||||||||
|
(c) Includes an impairment charge of $45 million (net of tax of $26 million) for the year ended December 31, 2016, related to certain equity method investments in wind projects. | |||||||||||||||
|
(d) Includes costs to achieve mergers of $134 million (net of tax of $74 million) for the three months ended December 31, 2016, and $329 million (net of tax of $194 million) for the year ended December 31, 2016. | |||||||||||||||
|
(e) Includes costs to achieve mergers of $60 million (net of tax of $37 million) for the year ended December 31, 2015. | |||||||||||||||
|
(f) Includes a charge of $57 million (net of tax of $35 million) for the year ended December 31, 2016, primarily consisting of severance expense related to cost savings initiatives. | |||||||||||||||
|
(g) Includes a charge of $77 million (net of tax of $47 million) for the three months and year ended December 31, 2015, primarily consisting of severance expense related to cost savings initiatives. | |||||||||||||||
|
(h) Includes a loss on the sale of the International Disposal Group of $640 million (including tax charges of $126 million) for the three months and year ended December 31, 2016. | |||||||||||||||
|
(i) Includes $1.25 billion related to the NCEMPA acquisition for the year ended December 31, 2015. | |||||||||||||||
|
(j) Includes $5 billion related to the Piedmont acquisition for the three months and year ended December 31, 2016. | |||||||||||||||
|
(k) Includes capital expenditures of the International Disposal Group prior to the sale. | |||||||||||||||
|
December 2016 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended |
Years Ended | ||||||||||||||
|
December 31, |
December 31, | ||||||||||||||
|
(In millions) |
2016 |
2015 |
2016 |
2015 | |||||||||||
|
ELECTRIC UTILITIES AND INFRASTRUCTURE |
|||||||||||||||
|
Operating Revenues |
$ |
4,936 |
$ |
4,851 |
$ |
21,366 |
$ |
21,521 |
|||||||
|
Operating Expenses |
3,950 |
3,818 |
15,821 |
16,295 |
|||||||||||
|
(Loss) Gains on Sales of Other Assets and Other, net |
(3) |
2 |
— |
5 |
|||||||||||
|
Operating Income |
983 |
1,035 |
5,545 |
5,231 |
|||||||||||
|
Other Income and Expenses |
88 |
76 |
303 |
264 |
|||||||||||
|
Interest Expense |
307 |
263 |
1,136 |
1,074 |
|||||||||||
|
Income Before Income Taxes |
764 |
848 |
4,712 |
4,421 |
|||||||||||
|
Income Tax Expense |
281 |
279 |
1,672 |
1,602 |
|||||||||||
|
Segment Income |
$ |
483 |
$ |
569 |
$ |
3,040 |
$ |
2,819 |
|||||||
|
Depreciation and Amortization |
$ |
758 |
$ |
698 |
$ |
2,897 |
$ |
2,735 |
|||||||
|
GAS UTILITIES AND INFRASTRUCTURE |
|||||||||||||||
|
Operating Revenues |
$ |
543 |
$ |
122 |
$ |
901 |
$ |
541 |
|||||||
|
Operating Expenses |
379 |
93 |
636 |
408 |
|||||||||||
|
(Loss) Gains on Sales of Other Assets and Other, net |
(1) |
(1) |
(1) |
6 |
|||||||||||
|
Operating Income |
163 |
28 |
264 |
139 |
|||||||||||
|
Other Income and Expenses |
11 |
2 |
24 |
3 |
|||||||||||
|
Interest Expense |
27 |
6 |
46 |
25 |
|||||||||||
|
Income Before Income Taxes |
147 |
24 |
242 |
117 |
|||||||||||
|
Income Tax Expense |
58 |
10 |
90 |
44 |
|||||||||||
|
Segment Income |
$ |
89 |
$ |
14 |
$ |
152 |
$ |
73 |
|||||||
|
Depreciation and Amortization |
$ |
56 |
$ |
20 |
$ |
115 |
$ |
79 |
|||||||
|
COMMERCIAL RENEWABLES |
|||||||||||||||
|
Operating Revenues |
$ |
119 |
$ |
86 |
$ |
484 |
$ |
286 |
|||||||
|
Operating Expenses |
123 |
96 |
492 |
322 |
|||||||||||
|
Gains (Loss) on Sales of Other Assets and Other, net |
1 |
(5) |
5 |
1 |
|||||||||||
|
Operating Loss |
(3) |
(15) |
(3) |
(35) |
|||||||||||
|
Other Income and Expenses |
(5) |
6 |
(83) |
2 |
|||||||||||
|
Interest Expense |
15 |
11 |
53 |
44 |
|||||||||||
|
Loss Before Income Taxes |
(23) |
(20) |
(139) |
(77) |
|||||||||||
|
Income Tax Benefit |
(33) |
(36) |
(160) |
(128) |
|||||||||||
|
Less: Loss Attributable to Noncontrolling Interests |
— |
(1) |
(2) |
(1) |
|||||||||||
|
Segment Income |
$ |
10 |
$ |
17 |
$ |
23 |
$ |
52 |
|||||||
|
Depreciation and Amortization |
$ |
34 |
$ |
27 |
$ |
130 |
$ |
104 |
|||||||
|
OTHER |
|||||||||||||||
|
Operating Revenues |
$ |
26 |
$ |
45 |
$ |
117 |
$ |
135 |
|||||||
|
Operating Expenses |
287 |
206 |
604 |
409 |
|||||||||||
|
Gains on Sales of Other Assets and Other, net |
9 |
3 |
23 |
18 |
|||||||||||
|
Operating Loss |
(252) |
(158) |
(464) |
(256) |
|||||||||||
|
Other Income and Expenses |
15 |
25 |
75 |
98 |
|||||||||||
|
Interest Expense |
140 |
108 |
693 |
393 |
|||||||||||
|
Loss Before Income Taxes |
(377) |
(241) |
(1,082) |
(551) |
|||||||||||
|
Income Tax Benefit |
(170) |
(74) |
(446) |
(262) |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
2 |
3 |
9 |
10 |
|||||||||||
|
Other Net Expense |
$ |
(209) |
$ |
(170) |
$ |
(645) |
$ |
(299) |
|||||||
|
Depreciation and Amortization |
$ |
44 |
$ |
36 |
$ |
152 |
$ |
135 |
|||||||
|
Note: Prior period amounts have been restated to conform to the current segment structure. | |||||||||||||||
|
DUKE ENERGY CORPORATION | |||||||||||
|
CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||
|
(Unaudited) | |||||||||||
|
(In millions, except per-share amounts) | |||||||||||
|
Years Ended December 31, | |||||||||||
|
2016 |
2015 |
2014 | |||||||||
|
Operating Revenues |
|||||||||||
|
Regulated electric |
$ |
21,221 |
$ |
21,379 |
$ |
21,550 |
|||||
|
Nonregulated electric and other |
659 |
456 |
386 |
||||||||
|
Regulated natural gas |
863 |
536 |
573 |
||||||||
|
Total operating revenues |
22,743 |
22,371 |
22,509 |
||||||||
|
Operating Expenses |
|||||||||||
|
Fuel used in electric generation and purchased power |
6,625 |
7,355 |
7,732 |
||||||||
|
Cost of natural gas |
265 |
141 |
185 |
||||||||
|
Operation, maintenance and other |
6,085 |
5,539 |
5,506 |
||||||||
|
Depreciation and amortization |
3,294 |
3,053 |
2,969 |
||||||||
|
Property and other taxes |
1,142 |
1,129 |
1,204 |
||||||||
|
Impairment charges |
18 |
106 |
81 |
||||||||
|
Total operating expenses |
17,429 |
17,323 |
17,677 |
||||||||
|
Gains on Sales of Other Assets and Other, net |
27 |
30 |
10 |
||||||||
|
Operating Income |
5,341 |
5,078 |
4,842 |
||||||||
|
Other Income and Expenses |
|||||||||||
|
Equity in earnings (losses) of unconsolidated affiliates |
(15) |
69 |
130 |
||||||||
|
Other income and expenses, net |
324 |
290 |
320 |
||||||||
|
Total other income and expenses |
309 |
359 |
450 |
||||||||
|
Interest Expense |
1,916 |
1,527 |
1,529 |
||||||||
|
Income From Continuing Operations Before Income Taxes |
3,734 |
3,910 |
3,763 |
||||||||
|
Income Tax Expense from Continuing Operations |
1,156 |
1,256 |
1,225 |
||||||||
|
Income From Continuing Operations |
2,578 |
2,654 |
2,538 |
||||||||
|
(Loss) Income From Discontinued Operations, net of tax |
(408) |
177 |
(649) |
||||||||
|
Net Income |
2,170 |
2,831 |
1,889 |
||||||||
|
Less: Net Income Attributable to Noncontrolling Interests |
18 |
15 |
6 |
||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
2,152 |
$ |
2,816 |
$ |
1,883 |
|||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||||||
|
Basic |
$ |
3.71 |
$ |
3.80 |
$ |
3.58 |
|||||
|
Diluted |
$ |
3.71 |
$ |
3.80 |
$ |
3.58 |
|||||
|
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||||||
|
Basic |
$ |
(0.60) |
$ |
0.25 |
$ |
(0.92) |
|||||
|
Diluted |
$ |
(0.60) |
$ |
0.25 |
$ |
(0.92) |
|||||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||||||
|
Basic |
$ |
3.11 |
$ |
4.05 |
$ |
2.66 |
|||||
|
Diluted |
$ |
3.11 |
$ |
4.05 |
$ |
2.66 |
|||||
|
Weighted average shares outstanding |
|||||||||||
|
Basic |
691 |
694 |
707 |
||||||||
|
Diluted |
691 |
694 |
707 |
||||||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONSOLIDATED BALANCE SHEETS | ||||||||
|
(Unaudited) | ||||||||
|
(in millions) |
December 31, 2016 |
December 31, 2015 | ||||||
|
ASSETS |
||||||||
|
Current Assets |
||||||||
|
Cash and cash equivalents |
$ |
392 |
$ |
383 |
||||
|
Receivables (net of allowance for doubtful accounts of $14 at 2016 and $12 at 2015) |
751 |
515 |
||||||
|
Receivables of VIEs (net of allowance for doubtful accounts of $54 at 2016 and $53 at 2015) |
1,893 |
1,748 |
||||||
|
Inventory |
3,522 |
3,746 |
||||||
|
Assets held for sale |
— |
746 |
||||||
|
Regulatory assets (includes $50 related to VIEs at 2016) |
1,023 |
877 |
||||||
|
Other |
458 |
307 |
||||||
|
Total current assets |
8,039 |
8,322 |
||||||
|
Investments and Other Assets |
||||||||
|
Investments in equity method unconsolidated affiliates |
925 |
499 |
||||||
|
Nuclear decommissioning trust funds |
6,205 |
5,825 |
||||||
|
Goodwill |
19,425 |
16,072 |
||||||
|
Assets held for sale |
— |
2,413 |
||||||
|
Other |
2,752 |
2,830 |
||||||
|
Total investments and other assets |
29,307 |
27,639 |
||||||
|
Property, Plant and Equipment |
||||||||
|
Cost |
121,397 |
109,967 |
||||||
|
Accumulated depreciation and amortization |
(39,406) |
(36,736) |
||||||
|
Generation facilities to be retired, net |
529 |
548 |
||||||
|
Net property, plant and equipment |
82,520 |
73,779 |
||||||
|
Regulatory Assets and Deferred Debits |
||||||||
|
Regulatory assets (includes $1,142 related to VIEs at 2016) |
12,878 |
11,373 |
||||||
|
Other |
17 |
43 |
||||||
|
Total regulatory assets and deferred debits |
12,895 |
11,416 |
||||||
|
Total Assets |
$ |
132,761 |
$ |
121,156 |
||||
|
LIABILITIES AND EQUITY |
||||||||
|
Current Liabilities |
||||||||
|
Accounts payable |
$ |
2,994 |
$ |
2,350 |
||||
|
Notes payable and commercial paper |
2,487 |
3,633 |
||||||
|
Taxes accrued |
384 |
289 |
||||||
|
Interest accrued |
503 |
412 |
||||||
|
Current maturities of long-term debt (includes $260 at 2016 and $125 at 2015 related to VIEs) |
2,319 |
2,026 |
||||||
|
Liabilities associated with assets held for sale |
— |
279 |
||||||
|
Asset retirement obligations |
411 |
— |
||||||
|
Regulatory liabilities |
409 |
400 |
||||||
|
Other |
2,044 |
2,011 |
||||||
|
Total current liabilities |
11,551 |
11,400 |
||||||
|
Long-Term Debt (includes $3,587 at 2016 and $2,197 at 2015 related to VIEs) |
45,576 |
36,842 |
||||||
|
Deferred Credits and Other Liabilities |
||||||||
|
Deferred income taxes |
14,155 |
12,548 |
||||||
|
Investment tax credits |
493 |
472 |
||||||
|
Accrued pension and other post-retirement benefit costs |
1,111 |
1,088 |
||||||
|
Liabilities associated with assets held for sale |
— |
900 |
||||||
|
Asset retirement obligations |
10,200 |
10,249 |
||||||
|
Regulatory liabilities |
6,881 |
6,255 |
||||||
|
Other |
1,753 |
1,631 |
||||||
|
Total deferred credits and other liabilities |
34,593 |
33,143 |
||||||
|
Commitments and Contingencies |
||||||||
|
Equity |
||||||||
|
Common stock, $0.001 par value, 2 billion shares authorized; 700 million and 688 million shares outstanding at 2016 and 2015, respectively |
1 |
1 |
||||||
|
Additional paid-in capital |
38,741 |
37,968 |
||||||
|
Retained earnings |
2,384 |
2,564 |
||||||
|
Accumulated other comprehensive loss |
(93) |
(806) |
||||||
|
Total Duke Energy Corporation stockholders' equity |
41,033 |
39,727 |
||||||
|
Noncontrolling interests |
8 |
44 |
||||||
|
Total equity |
41,041 |
39,771 |
||||||
|
Total Liabilities and Equity |
$ |
132,761 |
$ |
121,156 |
||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
(Unaudited) | ||||||||
|
(In millions) | ||||||||
|
Years Ended December 31, | ||||||||
|
2016 |
2015 | |||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
|
Net Income |
$ |
2,170 |
$ |
2,831 |
||||
|
Adjustments to reconcile net income to net cash provided by operating activities |
4,628 |
3,845 |
||||||
|
Net cash provided by operating activities |
6,798 |
6,676 |
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
|
Net cash used in investing activities |
(11,533) |
(5,277) |
||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
|
Net cash provided by (used in) financing activities |
4,270 |
(2,578) |
||||||
|
Changes in cash and cash equivalents included in assets held for sale |
474 |
1,099 |
||||||
|
Net increase (decrease) in cash and cash equivalents |
9 |
(80) |
||||||
|
Cash and cash equivalents at the beginning of period |
383 |
463 |
||||||
|
Cash and cash equivalents at end of period |
$ |
392 |
$ |
383 |
||||
|
DUKE ENERGY CORPORATION EARNINGS VARIANCES December 2016 QTD vs. Prior Year | ||||||||||||||||||||||||||||||||||
|
($ per share) |
Electric |
Gas |
Commercial |
International |
Other |
Discontinued |
Consolidated | |||||||||||||||||||||||||||
|
2015 QTD Reported Earnings Per Share, Diluted |
$ |
0.82 |
$ |
0.02 |
$ |
0.02 |
$ |
— |
$ |
(0.24) |
$ |
0.07 |
$ |
0.69 |
||||||||||||||||||||
|
Costs to Achieve Mergers |
— |
— |
— |
— |
0.03 |
— |
0.03 |
|||||||||||||||||||||||||||
|
Ash Basin Settlement and Penalties |
0.01 |
— |
— |
— |
— |
— |
0.01 |
|||||||||||||||||||||||||||
|
Cost Savings Initiatives |
0.02 |
— |
— |
— |
0.11 |
— |
0.13 |
|||||||||||||||||||||||||||
|
International Energy Operations |
— |
— |
— |
0.08 |
— |
(0.08) |
— |
|||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
— |
0.01 |
0.01 |
|||||||||||||||||||||||||||
|
2015 QTD Adjusted Earnings Per Share, Diluted |
$ |
0.85 |
$ |
0.02 |
$ |
0.02 |
$ |
0.08 |
$ |
(0.10) |
$ |
— |
$ |
0.87 |
||||||||||||||||||||
|
Change in share count |
(0.01) |
— |
— |
— |
— |
— |
(0.01) |
|||||||||||||||||||||||||||
|
Weather-related (a) |
0.03 |
— |
— |
— |
— |
— |
0.03 |
|||||||||||||||||||||||||||
|
Volume |
(0.01) |
— |
— |
— |
— |
— |
(0.01) |
|||||||||||||||||||||||||||
|
Pricing and Riders |
(0.01) |
— |
— |
— |
— |
— |
(0.01) |
|||||||||||||||||||||||||||
|
Wholesale |
(0.01) |
— |
— |
— |
— |
— |
(0.01) |
|||||||||||||||||||||||||||
|
Operations and maintenance, net of recoverables (b) |
(0.08) |
0.01 |
— |
— |
— |
— |
(0.07) |
|||||||||||||||||||||||||||
|
Piedmont Natural Gas contribution |
— |
0.10 |
— |
— |
— |
— |
0.10 |
|||||||||||||||||||||||||||
|
Commercial Gas Pipelines |
— |
0.01 |
— |
— |
— |
— |
0.01 |
|||||||||||||||||||||||||||
|
Duke Energy Renewables |
— |
— |
(0.01) |
— |
— |
— |
(0.01) |
|||||||||||||||||||||||||||
|
Other (c) |
0.02 |
— |
— |
— |
(0.02) |
— |
— |
|||||||||||||||||||||||||||
|
Interest Expense |
(0.03) |
— |
— |
— |
(0.03) |
— |
(0.06) |
|||||||||||||||||||||||||||
|
Change in effective income tax rate |
(0.06) |
(0.01) |
— |
(0.01) |
0.07 |
— |
(0.01) |
|||||||||||||||||||||||||||
|
Latin America, including foreign exchange rates |
— |
— |
— |
(0.01) |
— |
— |
(0.01) |
|||||||||||||||||||||||||||
|
2016 QTD Adjusted Earnings Per Share, Diluted |
$ |
0.69 |
$ |
0.13 |
$ |
0.01 |
$ |
0.06 |
$ |
(0.08) |
$ |
— |
$ |
0.81 |
||||||||||||||||||||
|
Costs to Achieve Mergers |
— |
— |
— |
— |
(0.19) |
— |
(0.19) |
|||||||||||||||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
— |
(0.03) |
— |
(0.03) |
|||||||||||||||||||||||||||
|
International Energy Operations |
— |
— |
— |
(0.06) |
— |
0.06 |
— |
|||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
— |
(0.92) |
(0.92) |
|||||||||||||||||||||||||||
|
2016 QTD Reported Earnings Per Share, Diluted |
$ |
0.69 |
$ |
0.13 |
$ |
0.01 |
$ |
— |
$ |
(0.30) |
$ |
(0.86) |
$ |
(0.33) |
||||||||||||||||||||
|
Note 1: Prior period amounts have been restated to conform to the current segment structure. Results of NMC, previously included in the International Energy segment, are now within Other. | ||||||||||||||||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | ||||||||||||||||||||||||||||||||||
|
Note 3: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all variance drivers except Duke Energy Renewables, which uses an effective tax rate. | ||||||||||||||||||||||||||||||||||
|
(a) Weather-related amounts include estimated volume impacts of Hurricane Matthew. | ||||||||||||||||||||||||||||||||||
|
(b) Primarily due to higher planned O&M spending, including costs related to employee benefits. | ||||||||||||||||||||||||||||||||||
|
(c) Electric Utilities and Infrastructure includes higher AFUDC equity (+$0.02) and lower general taxes (+$0.03), partially offset by increased depreciation and amortization expense (-$0.03) due to higher depreciable base. | ||||||||||||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION EARNINGS VARIANCES December 2016 YTD vs. Prior Year | |||||||||||||||||||||||||||||||||||||
|
($ per share) |
Electric Infrastructure |
Gas Utilities and |
Commercial |
International |
Other |
Discontinued |
Consolidated | ||||||||||||||||||||||||||||||
|
Continuing |
Midwest | ||||||||||||||||||||||||||||||||||||
|
2015 YTD Reported Earnings Per Share, Diluted |
$ |
4.06 |
$ |
0.11 |
$ |
0.08 |
$ |
— |
$ |
(0.45) |
$ |
— |
$ |
0.25 |
$ |
4.05 |
|||||||||||||||||||||
|
Costs to Achieve Mergers |
— |
— |
— |
— |
0.09 |
— |
— |
0.09 |
|||||||||||||||||||||||||||||
|
Edwardsport Settlement |
0.08 |
— |
— |
— |
— |
— |
— |
0.08 |
|||||||||||||||||||||||||||||
|
Midwest Generation Operations |
— |
— |
— |
— |
— |
0.14 |
(0.14) |
— |
|||||||||||||||||||||||||||||
|
Ash Basin Settlement and Penalties |
0.02 |
— |
— |
— |
— |
— |
— |
0.02 |
|||||||||||||||||||||||||||||
|
Cost Savings Initiatives |
0.01 |
— |
— |
— |
0.12 |
— |
— |
0.13 |
|||||||||||||||||||||||||||||
|
International Energy Operations |
— |
— |
— |
0.22 |
— |
— |
(0.22) |
— |
|||||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
0.06 |
— |
0.11 |
0.17 |
|||||||||||||||||||||||||||||
|
2015 YTD Adjusted Earnings Per Share, Diluted |
$ |
4.17 |
$ |
0.11 |
$ |
0.08 |
$ |
0.22 |
$ |
(0.18) |
$ |
0.14 |
$ |
— |
$ |
4.54 |
|||||||||||||||||||||
|
Change in share count (a) |
0.02 |
— |
— |
— |
— |
— |
— |
0.02 |
|||||||||||||||||||||||||||||
|
Weather-related (b) |
0.07 |
— |
— |
— |
— |
— |
— |
0.07 |
|||||||||||||||||||||||||||||
|
Volume |
0.03 |
— |
— |
— |
— |
— |
— |
0.03 |
|||||||||||||||||||||||||||||
|
Pricing and Riders (c) |
0.14 |
0.01 |
— |
— |
— |
— |
— |
0.15 |
|||||||||||||||||||||||||||||
|
Wholesale (d) |
0.07 |
— |
— |
— |
— |
— |
— |
0.07 |
|||||||||||||||||||||||||||||
|
Operations and maintenance, net of recoverables (e) |
(0.02) |
— |
— |
— |
— |
— |
— |
(0.02) |
|||||||||||||||||||||||||||||
|
Piedmont Natural Gas contribution |
— |
0.10 |
— |
— |
— |
— |
— |
0.10 |
|||||||||||||||||||||||||||||
|
Commercial Gas Pipelines |
— |
0.02 |
— |
— |
— |
— |
— |
0.02 |
|||||||||||||||||||||||||||||
|
Duke Energy Renewables |
— |
— |
0.02 |
— |
— |
— |
— |
0.02 |
|||||||||||||||||||||||||||||
|
National Methanol Company (NMC) |
— |
— |
— |
— |
(0.05) |
— |
— |
(0.05) |
|||||||||||||||||||||||||||||
|
Other (f) |
(0.08) |
(0.02) |
— |
— |
(0.03) |
— |
— |
(0.13) |
|||||||||||||||||||||||||||||
|
Interest Expense |
(0.04) |
— |
— |
— |
(0.06) |
— |
— |
(0.10) |
|||||||||||||||||||||||||||||
|
Change in effective income tax rate |
0.04 |
— |
— |
0.09 |
(0.06) |
— |
— |
0.07 |
|||||||||||||||||||||||||||||
|
Midwest Generation (g) |
— |
— |
— |
— |
— |
(0.14) |
— |
(0.14) |
|||||||||||||||||||||||||||||
|
Latin America, including foreign exchange rates |
— |
— |
— |
0.04 |
— |
— |
— |
0.04 |
|||||||||||||||||||||||||||||
|
2016 YTD Adjusted Earnings Per Share, Diluted |
$ |
4.40 |
$ |
0.22 |
$ |
0.10 |
$ |
0.35 |
$ |
(0.38) |
$ |
— |
$ |
— |
$ |
4.69 |
|||||||||||||||||||||
|
Cost to Achieve Mergers |
— |
— |
— |
— |
(0.48) |
— |
— |
(0.48) |
|||||||||||||||||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
— |
(0.08) |
— |
— |
(0.08) |
|||||||||||||||||||||||||||||
|
Commercial Renewables Impairment |
— |
— |
(0.07) |
— |
— |
— |
— |
(0.07) |
|||||||||||||||||||||||||||||
|
International Energy Operations |
— |
— |
— |
(0.35) |
— |
— |
0.35 |
— |
|||||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
— |
— |
(0.95) |
(0.95) |
|||||||||||||||||||||||||||||
|
2016 YTD Reported Earnings Per Share, Diluted |
$ |
4.40 |
$ |
0.22 |
$ |
0.03 |
$ |
— |
$ |
(0.94) |
$ |
— |
$ |
(0.60) |
$ |
3.11 |
|||||||||||||||||||||
|
Note 1: Prior period amounts have been restated to conform to the current segment structure. Results of NMC, previously included in the International Energy segment, are now within Other. | |||||||||||||||||||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | |||||||||||||||||||||||||||||||||||||
|
Note 3: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all variance drivers except Duke Energy Renewables, which uses an effective tax rate. | |||||||||||||||||||||||||||||||||||||
|
(a) Due to the prior year repurchase of common shares, partially offset by the issuance of shares in 2016 to partially fund the Piedmont acquisition. Weighted average diluted shares outstanding decreased from 694 million shares to 691 million shares. | |||||||||||||||||||||||||||||||||||||
|
(b) Weather-related amounts include estimated volume impacts of Hurricane Matthew. | |||||||||||||||||||||||||||||||||||||
|
(c) Primarily due to the NCEMPA rider (+$0.07) and higher energy efficiency recoveries in the Carolinas (+$0.05). | |||||||||||||||||||||||||||||||||||||
|
(d) Primarily due to the implementation of the 30-year contract with NCEMPA. | |||||||||||||||||||||||||||||||||||||
|
(e) Primarily due to increased storm restoration costs and costs related to the NCEMPA asset purchase, partially offset by strong cost control. | |||||||||||||||||||||||||||||||||||||
|
(f) Electric Utilities and Infrastructure includes increased depreciation and amortization expense (-$0.11) due to higher depreciable base, partially offset by higher AFUDC equity (+$0.03). | |||||||||||||||||||||||||||||||||||||
|
(g) Due to prior year earnings from the nonregulated Midwest generation business, which was sold in April 2015. | |||||||||||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
December 2016 | ||||||||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
18,057 |
17,198 |
5.0% |
—% |
83,507 |
83,393 |
0.1% |
0.7% |
||||||||||||||||
|
General Service |
18,473 |
18,243 |
1.3% |
0.2% |
77,764 |
77,367 |
0.5% |
0.1% |
||||||||||||||||
|
Industrial |
12,748 |
12,827 |
(0.6%) |
(1.0%) |
51,895 |
52,197 |
(0.6%) |
(0.6%) |
||||||||||||||||
|
Other Energy Sales |
144 |
147 |
(2.0%) |
579 |
597 |
(3.0%) |
||||||||||||||||||
|
Unbilled Sales |
(328) |
113 |
(390.3%) |
n/a |
750 |
(363) |
306.6% |
n/a |
||||||||||||||||
|
Total Retail Sales |
49,094 |
48,528 |
1.2% |
(0.2%) |
214,495 |
213,191 |
0.6% |
0.2% |
||||||||||||||||
|
Special Sales |
9,251 |
9,524 |
(2.9%) |
43,034 |
38,075 |
13.0% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Electric Utilities and Infrastructure |
58,345 |
58,052 |
0.5% |
257,529 |
251,266 |
2.5% |
||||||||||||||||||
|
Average Number of Customers (Electric) |
||||||||||||||||||||||||
|
Residential |
6,481,081 |
6,394,280 |
1.4% |
6,450,046 |
6,362,549 |
1.4% |
||||||||||||||||||
|
General Service |
966,777 |
955,880 |
1.1% |
962,629 |
952,483 |
1.1% |
||||||||||||||||||
|
Industrial |
17,768 |
17,983 |
(1.2%) |
17,843 |
18,107 |
(1.5%) |
||||||||||||||||||
|
Other Energy Sales |
23,177 |
23,119 |
0.3% |
23,132 |
23,049 |
0.4% |
||||||||||||||||||
|
Total Regular Sales |
7,488,803 |
7,391,262 |
1.3% |
7,453,650 |
7,356,188 |
1.3% |
||||||||||||||||||
|
Special Sales |
60 |
63 |
(4.8%) |
61 |
63 |
(3.2%) |
||||||||||||||||||
|
Total Average Number of Customers - Electric Utilities and Infrastructure |
7,488,863 |
7,391,325 |
1.3% |
7,453,711 |
7,356,251 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
15,400 |
13,915 |
10.7% |
73,767 |
76,348 |
(3.4%) |
||||||||||||||||||
|
Nuclear |
18,375 |
18,541 |
(0.9%) |
74,160 |
71,121 |
4.3% |
||||||||||||||||||
|
Hydro |
153 |
996 |
(84.6%) |
1,655 |
2,021 |
(18.1%) |
||||||||||||||||||
|
Oil and Natural Gas |
13,689 |
14,616 |
(6.3%) |
62,150 |
60,670 |
2.4% |
||||||||||||||||||
|
Renewable Energy |
37 |
3 |
1,133.3% |
195 |
13 |
1,400.0% |
||||||||||||||||||
|
Total Generation (4) |
47,654 |
48,071 |
(0.9%) |
211,927 |
210,173 |
0.8% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
13,625 |
11,763 |
15.8% |
59,382 |
52,845 |
12.4% |
||||||||||||||||||
|
Total Sources of Energy |
61,279 |
59,834 |
2.4% |
271,309 |
263,018 |
3.2% |
||||||||||||||||||
|
Less: Line Loss and Other |
2,934 |
1,782 |
64.6% |
13,780 |
11,752 |
17.3% |
||||||||||||||||||
|
Total GWh Sources |
58,345 |
58,052 |
0.5% |
257,529 |
251,266 |
2.5% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
49,338 |
50,216 |
||||||||||||||||||||||
|
Winter |
52,515 |
53,484 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
94 |
||||||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Carolinas | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||||||||||||||
|
December 2016 | ||||||||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. (Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
5,884 |
5,471 |
7.5% |
27,939 |
27,916 |
0.1% |
||||||||||||||||||
|
General Service |
6,801 |
6,626 |
2.6% |
28,906 |
28,700 |
0.7% |
||||||||||||||||||
|
Industrial |
5,396 |
5,406 |
(0.2%) |
21,942 |
22,136 |
(0.9%) |
||||||||||||||||||
|
Other Energy Sales |
76 |
76 |
—% |
304 |
305 |
(0.3%) |
||||||||||||||||||
|
Unbilled Sales |
128 |
(21) |
709.5% |
372 |
(539) |
169.0% |
||||||||||||||||||
|
Total Retail Sales |
18,285 |
17,558 |
4.1% |
(1.7%) |
79,463 |
78,518 |
1.2% |
(0.3%) |
||||||||||||||||
|
Special Sales |
2,370 |
1,706 |
38.9% |
9,082 |
8,432 |
7.7% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Carolinas |
20,655 |
19,264 |
7.2% |
88,545 |
86,950 |
1.8% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
2,159,930 |
2,128,724 |
1.5% |
2,148,432 |
2,117,482 |
1.5% |
||||||||||||||||||
|
General Service |
351,145 |
346,378 |
1.4% |
349,400 |
345,119 |
1.2% |
||||||||||||||||||
|
Industrial |
6,270 |
6,337 |
(1.1%) |
6,295 |
6,417 |
(1.9%) |
||||||||||||||||||
|
Other Energy Sales |
15,250 |
15,123 |
0.8% |
15,190 |
15,041 |
1.0% |
||||||||||||||||||
|
Total Regular Sales |
2,532,595 |
2,496,562 |
1.4% |
2,519,317 |
2,484,059 |
1.4% |
||||||||||||||||||
|
Special Sales |
23 |
24 |
(4.2%) |
24 |
25 |
(4.0%) |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Carolinas |
2,532,618 |
2,496,586 |
1.4% |
2,519,341 |
2,484,084 |
1.4% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
5,551 |
3,769 |
47.3% |
25,607 |
25,896 |
(1.1%) |
||||||||||||||||||
|
Nuclear |
11,417 |
10,903 |
4.7% |
44,826 |
45,013 |
(0.4%) |
||||||||||||||||||
|
Hydro |
20 |
700 |
(97.1%) |
822 |
1,136 |
(27.6%) |
||||||||||||||||||
|
Oil and Natural Gas |
2,886 |
2,659 |
8.5% |
11,779 |
10,595 |
11.2% |
||||||||||||||||||
|
Renewable Energy |
3 |
3 |
—% |
13 |
13 |
—% |
||||||||||||||||||
|
Total Generation (4) |
19,877 |
18,034 |
10.2% |
83,047 |
82,653 |
0.5% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,941 |
2,182 |
(11.0%) |
10,737 |
9,170 |
17.1% |
||||||||||||||||||
|
Total Sources of Energy |
21,818 |
20,216 |
7.9% |
93,784 |
91,823 |
2.1% |
||||||||||||||||||
|
Less: Line Loss and Other |
1,163 |
952 |
22.2% |
5,239 |
4,873 |
7.5% |
||||||||||||||||||
|
Total GWh Sources |
20,655 |
19,264 |
7.2% |
88,545 |
86,950 |
1.8% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
19,685 |
19,645 |
||||||||||||||||||||||
|
Winter |
20,390 |
20,360 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
96 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,047 |
813 |
28.8% |
2,908 |
2,922 |
(0.5%) |
||||||||||||||||||
|
Cooling Degree Days |
60 |
22 |
172.7% |
1,950 |
1,731 |
12.7% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(18.1%) |
(34.2%) |
n/a |
(11.4%) |
(7.6%) |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
71.4% |
(46.3%) |
n/a |
29.9% |
8.4% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Progress | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||||||||||||||
|
December 2016 | ||||||||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
3,683 |
3,407 |
8.1% |
17,686 |
17,954 |
(1.5%) |
||||||||||||||||||
|
General Service |
3,550 |
3,529 |
0.6% |
15,557 |
15,529 |
0.2 |
||||||||||||||||||
|
Industrial |
2,482 |
2,498 |
(0.6%) |
10,274 |
10,288 |
(0.1%) |
||||||||||||||||||
|
Other Energy Sales |
21 |
25 |
(16.0%) |
89 |
106 |
(16.0%) |
||||||||||||||||||
|
Unbilled Sales |
164 |
50 |
228.0% |
262 |
(302) |
186.8% |
||||||||||||||||||
|
Total Retail Sales |
9,900 |
9,509 |
4.1% |
0.3% |
43,868 |
43,575 |
0.7% |
0.2% |
||||||||||||||||
|
Special Sales |
5,138 |
5,372 |
(4.4%) |
25,181 |
21,306 |
18.2% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Progress |
15,038 |
14,881 |
1.1% |
69,049 |
64,881 |
6.4% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,297,292 |
1,280,852 |
1.3% |
1,291,742 |
1,274,550 |
1.3% |
||||||||||||||||||
|
General Service |
229,936 |
227,233 |
1.2% |
229,007 |
226,099 |
1.3% |
||||||||||||||||||
|
Industrial |
4,115 |
4,174 |
(1.4%) |
4,136 |
4,209 |
(1.7%) |
||||||||||||||||||
|
Other Energy Sales |
1,498 |
1,648 |
(9.1%) |
1,537 |
1,677 |
(8.3%) |
||||||||||||||||||
|
Total Regular Sales |
1,532,841 |
1,513,907 |
1.3% |
1,526,422 |
1,506,535 |
1.3% |
||||||||||||||||||
|
Special Sales |
15 |
15 |
—% |
15 |
15 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Progress |
1,532,856 |
1,513,922 |
1.3% |
1,526,437 |
1,506,550 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
2,062 |
1,506 |
36.9% |
11,570 |
12,960 |
(10.7%) |
||||||||||||||||||
|
Nuclear |
6,958 |
7,638 |
(8.9%) |
29,334 |
26,108 |
12.4% |
||||||||||||||||||
|
Hydro |
41 |
193 |
(78.8%) |
490 |
582 |
(15.8%) |
||||||||||||||||||
|
Oil and Natural Gas |
4,679 |
5,020 |
(6.8%) |
22,716 |
22,203 |
2.3% |
||||||||||||||||||
|
Renewable Energy |
31 |
— |
n/a |
177 |
— |
n/a |
||||||||||||||||||
|
Total Generation (4) |
13,771 |
14,357 |
(4.1%) |
64,287 |
61,853 |
3.9% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,990 |
1,022 |
94.7% |
7,381 |
5,649 |
30.7% |
||||||||||||||||||
|
Total Sources of Energy |
15,761 |
15,379 |
2.5% |
71,668 |
67,502 |
6.2% |
||||||||||||||||||
|
Less: Line Loss and Other |
723 |
498 |
45.2% |
2,619 |
2,621 |
(0.1%) |
||||||||||||||||||
|
Total GWh Sources |
15,038 |
14,881 |
1.1% |
69,049 |
64,881 |
6.4% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
12,935 |
12,915 |
||||||||||||||||||||||
|
Winter |
14,034 |
14,019 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
94 |
91 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,013 |
650 |
55.8% |
2,706 |
2,654 |
2.0% |
||||||||||||||||||
|
Cooling Degree Days |
78 |
65 |
20.0% |
2,033 |
1,844 |
10.2% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(11.7%) |
(41.5%) |
n/a |
(9.0%) |
(7.8%) |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
39.3% |
4.8% |
n/a |
23.9% |
5.8% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Florida | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||||||||||||||
|
December 2016 | ||||||||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
4,612 |
4,732 |
(2.5%) |
20,265 |
19,932 |
1.7% |
||||||||||||||||||
|
General Service |
3,795 |
3,903 |
(2.8%) |
15,288 |
15,304 |
(0.1%) |
||||||||||||||||||
|
Industrial |
816 |
851 |
(4.1%) |
3,197 |
3,293 |
(2.9%) |
||||||||||||||||||
|
Other Energy Sales |
6 |
6 |
—% |
24 |
24 |
—% |
||||||||||||||||||
|
Unbilled Sales |
(755) |
(463) |
(63.1%) |
(257) |
104 |
(347.1%) |
||||||||||||||||||
|
Total Retail Sales |
8,474 |
9,029 |
(6.1%) |
(0.4%) |
38,517 |
38,657 |
(0.4%) |
0.8% |
||||||||||||||||
|
Special Sales |
388 |
236 |
64.4% |
1,887 |
1,396 |
35.2% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Florida |
8,862 |
9,265 |
(4.3%) |
40,404 |
40,053 |
0.9% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,555,990 |
1,533,247 |
1.5% |
1,548,681 |
1,524,320 |
1.6% |
||||||||||||||||||
|
General Service |
196,708 |
194,265 |
1.3% |
195,728 |
193,437 |
1.2% |
||||||||||||||||||
|
Industrial |
2,157 |
2,227 |
(3.1%) |
2,177 |
2,244 |
(3.0%) |
||||||||||||||||||
|
Other Energy Sales |
1,528 |
1,534 |
(0.4%) |
1,532 |
1,537 |
(0.3%) |
||||||||||||||||||
|
Total Regular Sales |
1,756,383 |
1,731,273 |
1.5% |
1,748,118 |
1,721,538 |
1.5% |
||||||||||||||||||
|
Special Sales |
14 |
14 |
—% |
14 |
14 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Florida |
1,756,397 |
1,731,287 |
1.5% |
1,748,132 |
1,721,552 |
1.5% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
2,247 |
1,612 |
39.4% |
8,852 |
9,718 |
(8.9%) |
||||||||||||||||||
|
Oil and Natural Gas |
5,513 |
6,135 |
(10.1%) |
24,884 |
25,263 |
(1.5%) |
||||||||||||||||||
|
Renewable Energy |
3 |
— |
n/a |
5 |
— |
n/a |
||||||||||||||||||
|
Total Generation (4) |
7,763 |
7,747 |
0.2% |
33,741 |
34,981 |
(3.5%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,591 |
1,937 |
(17.9%) |
8,998 |
7,217 |
24.7% |
||||||||||||||||||
|
Total Sources of Energy |
9,354 |
9,684 |
(3.4%) |
42,739 |
42,198 |
1.3% |
||||||||||||||||||
|
Less: Line Loss and Other |
492 |
419 |
17.4% |
2,335 |
2,145 |
8.9% |
||||||||||||||||||
|
Total GWh Sources |
8,862 |
9,265 |
(4.3%) |
40,404 |
40,053 |
0.9% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
8,839 |
9,101 |
||||||||||||||||||||||
|
Winter |
9,732 |
10,070 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
81 |
27 |
200.0% |
482 |
400 |
20.5% |
||||||||||||||||||
|
Cooling Degree Days |
572 |
765 |
(25.2%) |
3,481 |
3,742 |
(7.0%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(60.0%) |
(86.2%) |
n/a |
(19.8%) |
(32.6%) |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
22.3% |
65.2% |
n/a |
10.1% |
17.0% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||||||||||||||
|
December 2016 | ||||||||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,897 |
1,747 |
8.6% |
8,699 |
8,638 |
0.7% |
||||||||||||||||||
|
General Service |
2,307 |
2,231 |
3.4% |
9,633 |
9,512 |
1.3% |
||||||||||||||||||
|
Industrial |
1,467 |
1,481 |
(0.9%) |
5,945 |
5,988 |
(0.7%) |
||||||||||||||||||
|
Other Energy Sales |
27 |
27 |
—% |
109 |
109 |
—% |
||||||||||||||||||
|
Unbilled Sales |
67 |
(44) |
252.3% |
203 |
(52) |
490.4% |
||||||||||||||||||
|
Total Retail Sales |
5,765 |
5,442 |
5.9% |
2.1% |
24,589 |
24,195 |
1.6% |
0.7% |
||||||||||||||||
|
Special Sales |
281 |
299 |
(6.0%) |
574 |
1,244 |
(53.9%) |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Ohio |
6,046 |
5,741 |
5.3% |
25,163 |
25,439 |
(1.1%) |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
756,044 |
748,478 |
1.0% |
753,409 |
746,757 |
0.9% |
||||||||||||||||||
|
General Service |
87,931 |
87,298 |
0.7% |
87,625 |
87,227 |
0.5% |
||||||||||||||||||
|
Industrial |
2,507 |
2,530 |
(0.9%) |
2,514 |
2,530 |
(0.6%) |
||||||||||||||||||
|
Other Energy Sales |
3,274 |
3,231 |
1.3% |
3,258 |
3,220 |
1.2% |
||||||||||||||||||
|
Total Regular Sales |
849,756 |
841,537 |
1.0% |
846,806 |
839,734 |
0.8% |
||||||||||||||||||
|
Special Sales |
1 |
1 |
—% |
1 |
1 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Ohio |
849,757 |
841,538 |
1.0% |
846,807 |
839,735 |
0.8% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
1,017 |
949 |
7.2% |
3,667 |
4,402 |
(16.7%) |
||||||||||||||||||
|
Oil and Natural Gas |
4 |
10 |
(60.0%) |
32 |
53 |
(39.6%) |
||||||||||||||||||
|
Total Generation (4) |
1,021 |
959 |
6.5% |
3,699 |
4,455 |
(17.0%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
5,507 |
4,934 |
11.6% |
23,648 |
22,280 |
6.1% |
||||||||||||||||||
|
Total Sources of Energy |
6,528 |
5,893 |
10.8% |
27,347 |
26,735 |
2.3% |
||||||||||||||||||
|
Less: Line Loss and Other |
482 |
152 |
217.1% |
2,184 |
1,296 |
68.5% |
||||||||||||||||||
|
Total GWh Sources |
6,046 |
5,741 |
5.3% |
25,163 |
25,439 |
(1.1%) |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
1,062 |
1,062 |
||||||||||||||||||||||
|
Winter |
1,164 |
1,164 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,635 |
1,316 |
24.2% |
4,483 |
4,647 |
(3.5%) |
||||||||||||||||||
|
Cooling Degree Days |
55 |
15 |
266.7% |
1,400 |
1,109 |
26.2% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(12.6%) |
(28.0%) |
n/a |
(9.9%) |
(3.6%) |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
223.5% |
(31.8%) |
n/a |
28.0% |
(7.9%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Indiana | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Electric Utilities and Infrastructure Information | ||||||||||||||||||||||||
|
December 2016 | ||||||||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,981 |
1,841 |
7.6% |
8,918 |
8,953 |
(0.4%) |
||||||||||||||||||
|
General Service |
2,020 |
1,954 |
3.4% |
8,380 |
8,322 |
0.7% |
||||||||||||||||||
|
Industrial |
2,587 |
2,591 |
(0.2%) |
10,537 |
10,492 |
0.4% |
||||||||||||||||||
|
Other Energy Sales |
14 |
13 |
7.7% |
53 |
53 |
—% |
||||||||||||||||||
|
Unbilled Sales |
68 |
(9) |
855.6% |
170 |
1 |
16,900.0% |
||||||||||||||||||
|
Total Retail Sales |
6,670 |
6,390 |
4.4% |
1.4% |
28,058 |
27,821 |
0.9% |
—% |
||||||||||||||||
|
Special Sales |
1,074 |
1,911 |
(43.8%) |
6,310 |
5,697 |
10.8% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Indiana |
7,744 |
8,301 |
(6.7%) |
34,368 |
33,518 |
2.5% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
711,825 |
702,979 |
1.3% |
707,782 |
699,440 |
1.2% |
||||||||||||||||||
|
General Service |
101,057 |
100,706 |
0.3% |
100,869 |
100,601 |
0.3% |
||||||||||||||||||
|
Industrial |
2,719 |
2,715 |
0.1% |
2,721 |
2,707 |
0.5% |
||||||||||||||||||
|
Other Energy Sales |
1,627 |
1,583 |
2.8% |
1,615 |
1,574 |
2.6% |
||||||||||||||||||
|
Total Regular Sales |
817,228 |
807,983 |
1.1% |
812,987 |
804,322 |
1.1% |
||||||||||||||||||
|
Special Sales |
7 |
9 |
(22.2%) |
7 |
8 |
(12.5%) |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Indiana |
817,235 |
807,992 |
1.1% |
812,994 |
804,330 |
1.1% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
4,523 |
6,079 |
(25.6%) |
24,071 |
23,372 |
3.0% |
||||||||||||||||||
|
Hydro |
92 |
103 |
(10.7%) |
343 |
303 |
13.2% |
||||||||||||||||||
|
Oil and Natural Gas |
607 |
792 |
(23.4%) |
2,739 |
2,556 |
7.2% |
||||||||||||||||||
|
Total Generation (4) |
5,222 |
6,974 |
(25.1%) |
27,153 |
26,231 |
3.5% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,596 |
1,688 |
53.8% |
8,618 |
8,529 |
1.0% |
||||||||||||||||||
|
Total Sources of Energy |
7,818 |
8,662 |
(9.7%) |
35,771 |
34,760 |
2.9% |
||||||||||||||||||
|
Less: Line Loss and Other |
74 |
361 |
(79.5%) |
1,403 |
1,242 |
13.0% |
||||||||||||||||||
|
Total GWh Sources |
7,744 |
8,301 |
(6.7%) |
34,368 |
33,518 |
2.5% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
6,817 |
7,493 |
||||||||||||||||||||||
|
Winter |
7,195 |
7,871 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,782 |
1,487 |
19.8% |
4,846 |
5,202 |
(6.8%) |
||||||||||||||||||
|
Cooling Degree Days |
40 |
6 |
566.7% |
1,348 |
1,076 |
25.3% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(10.9%) |
(24.0%) |
n/a |
(9.3%) |
0.8% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
166.7% |
(73.9%) |
n/a |
24.5% |
(10.7%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e., unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e., billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Gas Utilities and Infrastructure | ||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||
|
December 2016 | ||||||||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
2016 |
2015 |
% Inc.(Dec.) | |||||||||||||
|
Total Sales |
||||||||||||||||||
|
Piedmont Natural Gas Local Distribution Company (LDC) |
120,908,508 |
112,854,663 |
7.1% |
495,122,794 |
465,670,939 |
6.3% |
||||||||||||
|
Duke Energy Midwest LDC throughput (MCF) |
24,846,503 |
19,495,894 |
27.4% |
81,870,489 |
84,523,814 |
(3.1%) |
||||||||||||
|
Average Number of Customers - Piedmont Natural Gas (1) |
||||||||||||||||||
|
Residential |
934,940 |
921,239 |
1.5% |
934,523 |
919,482 |
1.6% |
||||||||||||
|
Commercial |
99,354 |
98,562 |
0.8% |
99,827 |
98,764 |
1.1% |
||||||||||||
|
Industrial |
2,289 |
2,282 |
0.3% |
2,294 |
2,297 |
(0.1%) |
||||||||||||
|
Power Generation |
25 |
25 |
—% |
25 |
25 |
—% |
||||||||||||
|
Total Average Number of Gas Customers - Piedmont |
1,036,608 |
1,022,108 |
1.4% |
1,036,669 |
1,020,568 |
1.6% |
||||||||||||
|
Average Number of Customers - Duke Energy Midwest |
||||||||||||||||||
|
Residential |
478,761 |
475,254 |
0.7% |
477,729 |
474,842 |
0.6% |
||||||||||||
|
Commercial |
43,196 |
43,378 |
(0.4%) |
43,124 |
43,253 |
(0.3%) |
||||||||||||
|
Industrial |
1,609 |
1,627 |
(1.1%) |
1,609 |
1,619 |
(0.6%) |
||||||||||||
|
Other Energy Sales |
142 |
142 |
—% |
144 |
142 |
1.4% |
||||||||||||
|
Total Average Number of Gas Customers - Duke Energy |
523,708 |
520,401 |
0.6% |
522,606 |
519,856 |
0.5% |
||||||||||||
|
(1) Sales and customer data for Piedmont Natural Gas include amounts prior to the acquisition on October 3, 2016, for comparative purposes. Duke Energy's consolidated financial results do not include Piedmont's results of operations prior to the date of acquisition. | ||||||||||||||||||
|
(2) Piedmont has a margin decoupling mechanism in North Carolina and weather normalization mechanisms in South Carolina and Tennessee that significantly eliminate the impact of throughput changes on earnings. Duke Energy Ohio's rate design also serves to offset this impact. | ||||||||||||||||||
|
Commercial Renewables | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
December 2016 | ||||||||||||
|
Three Months Ended December 31, |
Years Ended December 31, | |||||||||||
|
2016 |
2015 |
2016 |
2015 | |||||||||
|
Actual Renewable Plant Production, GWh |
1,946 |
1,664 |
7,565 |
5,577 |
||||||||
|
Net Proportional MW Capacity in Operation |
n/a |
n/a |
2,892 |
1,943 |
||||||||
|
DUKE ENERGY CORPORATION REPORTED TO ADJUSTED EARNINGS RECONCILIATION Three Months Ended December 31, 2016 (Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||
|
Reported |
Costs to |
Cost |
International |
Discontinued |
Total |
Adjusted | ||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure |
$ |
483 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
483 |
||||||||||||||
|
Gas Utilities and Infrastructure |
89 |
— |
— |
— |
— |
— |
89 |
|||||||||||||||||||||
|
Commercial Renewables |
10 |
— |
— |
— |
— |
— |
10 |
|||||||||||||||||||||
|
Total Reportable Segment Income |
582 |
— |
— |
— |
— |
— |
582 |
|||||||||||||||||||||
|
International Energy |
— |
— |
— |
40 |
C |
— |
40 |
40 |
||||||||||||||||||||
|
Other |
(209) |
134 |
A |
18 |
B |
— |
— |
152 |
(57) |
|||||||||||||||||||
|
Intercompany Eliminations |
1 |
— |
— |
— |
(1) |
(1) |
— |
|||||||||||||||||||||
|
Discontinued Operations |
(601) |
— |
— |
(40) |
C |
641 |
D |
601 |
— |
|||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
(227) |
$ |
134 |
$ |
18 |
$ |
— |
$ |
640 |
$ |
792 |
$ |
565 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
(0.33) |
$ |
0.19 |
$ |
0.03 |
$ |
— |
$ |
0.92 |
$ |
1.14 |
$ |
0.81 |
||||||||||||||
|
A - |
Net of $74 million tax benefit. $10 million recorded within Operating Revenues, $198 million recorded within Operating Expenses on the Consolidated Statements of Operations. |
|
B - |
Net of $11 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. |
|
C - |
Net of $26 million tax expense. Operating results of the International Disposal Group, which exclude the loss and transaction-related costs described below, recorded within (Loss) Income from Discontinued Operations, net of tax on the Consolidated Statements of Operations. |
|
D - |
Recorded within (Loss) Income From Discontinued Operations, net of tax on the Consolidated Statements of Operations. Includes a loss on the sale of the International Disposal Group and other transaction-related costs. |
|
Weighted Average Shares, Diluted (reported and adjusted) - 699 million | |
|
DUKE ENERGY CORPORATION REPORTED TO ADJUSTED EARNINGS RECONCILIATION Twelve Months Ended December 31, 2016 (Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||
|
Reported |
Costs to |
Cost |
Commercial |
International |
Discontinued |
Total |
Adjusted | |||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure |
$ |
3,040 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
3,040 |
||||||||||||||||
|
Gas Utilities and Infrastructure |
152 |
— |
— |
— |
— |
— |
— |
152 |
||||||||||||||||||||||||
|
Commercial Renewables |
23 |
— |
— |
45 |
C |
— |
— |
45 |
68 |
|||||||||||||||||||||||
|
Total Reportable Segment Income |
3,215 |
— |
— |
45 |
— |
— |
45 |
3,260 |
||||||||||||||||||||||||
|
International Energy |
— |
— |
— |
— |
243 |
D |
— |
243 |
243 |
|||||||||||||||||||||||
|
Other |
(645) |
329 |
A |
57 |
B |
— |
— |
— |
386 |
(259) |
||||||||||||||||||||||
|
Intercompany Eliminations |
1 |
— |
— |
— |
— |
(1) |
(1) |
— |
||||||||||||||||||||||||
|
Discontinued Operations |
(419) |
— |
— |
— |
(243) |
D |
662 |
E |
419 |
— |
||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
2,152 |
$ |
329 |
$ |
57 |
$ |
45 |
$ |
— |
$ |
661 |
$ |
1,092 |
$ |
3,244 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
3.11 |
$ |
0.48 |
$ |
0.08 |
$ |
0.07 |
$ |
— |
$ |
0.95 |
$ |
1.58 |
$ |
4.69 |
||||||||||||||||
|
A - |
Net of $194 million tax benefit. Includes $11 million recorded within Operating Revenues, $278 million recorded within Operating Expenses and $234 million recorded within Interest Expense on the Consolidated Statements of Operations. The interest expense primarily relates to losses on forward-starting interest rate swaps associated with the Piedmont acquisition financing. |
|
B - |
Net of $35 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. |
|
C - |
Net of $26 million tax benefit. Other-than-temporary impairment included within Equity in earnings (losses) of unconsolidated affiliates on the Consolidated Statements of Operations. |
|
D - |
Net of $27 million tax expense. Operating results of the International Disposal Group, which exclude the loss and impairment described below and other miscellaneous transaction-related costs, recorded within (Loss) Income from Discontinued Operations, net of tax on the Consolidated Statements of Operations. |
|
E - |
Recorded within (Loss) Income From Discontinued Operations, net of tax on the Consolidated Statements of Operations. Includes a loss on the sale of the International Disposal Group, an impairment charge related to certain assets in Central America, and a tax benefit related to previously sold businesses. |
|
Weighted Average Shares, Diluted (reported and adjusted) - 691 million | |
|
DUKE ENERGY CORPORATION REPORTED TO ADJUSTED EARNINGS RECONCILIATION Three Months Ended December 31, 2015 (Dollars in millions, except per-share amounts) | |||||||||||||||||||||||||||||||||||||||
|
Special Items |
|||||||||||||||||||||||||||||||||||||||
|
Reported |
Costs to |
Edwardsport |
Ash Basin Settlement |
Cost |
International |
Economic |
Discontinued |
Total |
Adjusted | ||||||||||||||||||||||||||||||
|
SEGMENT INCOME |
|||||||||||||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure |
$ |
569 |
$ |
— |
$ |
2 |
B |
$ |
7 |
C |
$ |
10 |
D |
$ |
— |
$ |
— |
$ |
— |
$ |
19 |
$ |
588 |
||||||||||||||||
|
Gas Utilities and Infrastructure |
14 |
— |
— |
— |
— |
— |
— |
— |
— |
14 |
|||||||||||||||||||||||||||||
|
Commercial Renewables |
17 |
— |
— |
— |
1 |
E |
— |
1 |
H |
— |
2 |
19 |
|||||||||||||||||||||||||||
|
Total Reportable Segment Income |
600 |
— |
2 |
7 |
11 |
— |
1 |
— |
21 |
621 |
|||||||||||||||||||||||||||||
|
International Energy |
— |
— |
— |
— |
— |
56 |
G |
— |
— |
56 |
56 |
||||||||||||||||||||||||||||
|
Other |
(170) |
18 |
A |
— |
— |
77 |
F |
— |
— |
— |
95 |
(75) |
|||||||||||||||||||||||||||
|
Discontinued Operations |
47 |
— |
— |
— |
— |
(56) |
G |
— |
9 |
I |
(47) |
— |
|||||||||||||||||||||||||||
|
Net Income Attributable to Duke Energy |
$ |
477 |
$ |
18 |
$ |
2 |
$ |
7 |
$ |
88 |
$ |
— |
$ |
1 |
$ |
9 |
$ |
125 |
$ |
602 |
|||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY |
$ |
0.69 |
$ |
0.03 |
$ |
— |
$ |
0.01 |
$ |
0.13 |
$ |
— |
$ |
— |
$ |
0.01 |
$ |
0.18 |
$ |
0.87 |
|||||||||||||||||||
|
A - |
Net of $12 million tax benefit. Recorded within Operating Expenses on the Consolidated Statements of Operations. |
|
B - |
Net of $1 million tax benefit. $3 million recorded within Impairment charges on the Duke Energy Indiana Consolidated Statements of Operations. |
|
C - |
Recorded within Operation, maintenance and other on the Duke Energy Carolinas Consolidated Statements of Operations. |
|
D - |
Net of $6 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. Includes $7 million at Duke Energy Carolinas, $4 million at Duke Energy Progress, $2 million at Duke Energy Florida, $1 million at Duke Energy Ohio and $2 million at Duke Energy Indiana. |
|
E - |
Net of $1 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. |
|
F - |
Net of $47 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. |
|
G - |
Net of $29 million tax expense. Operating results of the International Disposal Group classified as discontinued operations. |
|
H - |
Recorded within Operating Revenues on the Consolidated Statements of Operations. |
|
I - |
Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations. |
|
Weighted Average Shares Outstanding, Diluted (reported and adjusted) - 688 million | |
|
DUKE ENERGY CORPORATION REPORTED TO ADJUSTED EARNINGS RECONCILIATION Twelve Months Ended December 31, 2015 (Dollars in millions, except per-share amounts) | |||||||||||||||||||||||||||||||||||||||
|
Special Items |
|||||||||||||||||||||||||||||||||||||||
|
Reported |
Costs to |
Edwardsport |
Midwest |
Ash Basin |
Cost |
International |
Discontinued |
Total |
Adjusted | ||||||||||||||||||||||||||||||
|
SEGMENT INCOME |
|||||||||||||||||||||||||||||||||||||||
|
Electric Utilities and Infrastructure |
$ |
2,819 |
$ |
— |
$ |
58 |
B |
$ |
— |
$ |
11 |
D |
$ |
10 |
E |
$ |
— |
$ |
— |
$ |
79 |
$ |
2,898 |
||||||||||||||||
|
Gas Utilities and Infrastructure |
73 |
— |
— |
— |
— |
— |
— |
— |
— |
73 |
|||||||||||||||||||||||||||||
|
Commercial Renewables |
52 |
— |
— |
— |
— |
1 |
F |
— |
— |
1 |
53 |
||||||||||||||||||||||||||||
|
Total Reportable Segment Income |
2,944 |
— |
58 |
— |
11 |
11 |
— |
— |
80 |
3,024 |
|||||||||||||||||||||||||||||
|
International Energy |
— |
— |
— |
— |
— |
— |
151 |
H |
— |
151 |
151 |
||||||||||||||||||||||||||||
|
Other |
(299) |
60 |
A |
— |
98 |
C |
— |
77 |
G |
— |
41 |
I |
276 |
(23) |
|||||||||||||||||||||||||
|
Discontinued Operations |
171 |
— |
— |
(98) |
C |
— |
— |
(151) |
H |
78 |
J |
(171) |
— |
||||||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
2,816 |
$ |
60 |
$ |
58 |
$ |
— |
$ |
11 |
$ |
88 |
$ |
— |
$ |
119 |
$ |
336 |
$ |
3,152 |
|||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, |
$ |
4.05 |
$ |
0.09 |
$ |
0.08 |
$ |
— |
$ |
0.02 |
$ |
0.13 |
$ |
— |
$ |
0.17 |
$ |
0.49 |
$ |
4.54 |
|||||||||||||||||||
|
A - |
Net of $37 million tax benefit. $95 million recorded within Operating Expenses and $2 million recorded within Interest Expense on the Consolidated Statements of Operations. |
|
B - |
Net of $35 million tax benefit. $88 million recorded within Impairment charges and $5 million recorded within Other income and expenses, net on the Duke Energy Indiana Consolidated Statements of Operations. |
|
C - |
Net of $53 million tax expense. Operating results of the nonregulated Midwest generation business classified as discontinued operations, which exclude special items and economic hedges. |
|
D - |
Net of $3 million tax benefit. Recorded within Operation, maintenance and other on the Consolidated Statements of Operations. Includes $8 million and $6 million at Duke Energy Carolinas and Duke Energy Progress, respectively. |
|
E - |
Net of $6 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. Includes $7 million at Duke Energy Carolinas, $4 million at Duke Energy Progress, $2 million at Duke Energy Florida, $1 million at Duke Energy Ohio and $2 million at Duke Energy Indiana. |
|
F - |
Net of $1 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. |
|
G - |
Net of $47 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. |
|
H - |
Net of $70 million tax expense. Operating results of the International Disposal Group classified as discontinued operations. |
|
I - |
State tax expense resulting from the completion of the sale of the nonregulated Midwest generation business. |
|
J - |
Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations, and includes the impact of a litigation reserve related to the nonregulated Midwest generation business. |
|
Weighted Average Shares Outstanding, Diluted (reported and adjusted) - 694 million | |
|
DUKE ENERGY CORPORATION ADJUSTED EFFECTIVE TAX RECONCILIATION Three Months and Year Ended December 31, 2016 (Dollars in Millions) | |||||||||||||||
|
Three Months Ended |
Year Ended |
||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate |
||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
512 |
$ |
3,734 |
|||||||||||
|
Costs to Achieve Mergers |
208 |
523 |
|||||||||||||
|
Cost Savings Initiatives |
29 |
92 |
|||||||||||||
|
Commercial Renewables Impairment |
— |
71 |
|||||||||||||
|
International Energy Operations |
66 |
270 |
|||||||||||||
|
Noncontrolling Interests |
(2) |
(7) |
|||||||||||||
|
Intercompany Eliminations |
(1) |
(1) |
|||||||||||||
|
Adjusted Pretax Income |
$ |
812 |
$ |
4,682 |
|||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
136 |
26.6% |
$ |
1,156 |
31.0% |
|||||||||
|
Costs to Achieve Mergers |
74 |
194 |
|||||||||||||
|
Cost Savings Initiatives |
11 |
35 |
|||||||||||||
|
Commercial Renewables Impairment |
— |
26 |
|||||||||||||
|
International Energy Operations |
26 |
27 |
|||||||||||||
|
Adjusted Tax Expense |
$ |
247 |
30.4% |
* |
$ |
1,438 |
30.7% |
* |
|||||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
|||||||||||||||
|
DUKE ENERGY CORPORATION ADJUSTED EFFECTIVE TAX RECONCILIATION Three Months and Year Ended December 31, 2015 (Dollars in Millions) | |||||||||||||||
|
Three Months Ended |
Year Ended |
||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate |
||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
612 |
$ |
3,910 |
|||||||||||
|
Costs to Achieve Mergers |
30 |
97 |
|||||||||||||
|
Edwardsport Settlement |
3 |
93 |
|||||||||||||
|
Midwest Generation Operations |
— |
151 |
|||||||||||||
|
Ash Basin Settlement and Penalties |
7 |
14 |
|||||||||||||
|
Cost Savings Initiatives |
142 |
142 |
|||||||||||||
|
International Energy Operations |
85 |
221 |
|||||||||||||
|
Economic Hedges (Mark-to-Market) |
1 |
— |
|||||||||||||
|
Noncontrolling Interests |
(3) |
(9) |
|||||||||||||
|
Adjusted Pretax Income |
$ |
877 |
$ |
4,619 |
|||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
179 |
29.2% |
$ |
1,256 |
32.1% |
|||||||||
|
Tax Adjustment Related to Midwest Generation Sale |
— |
(41) |
|||||||||||||
|
Costs to Achieve Mergers |
12 |
37 |
|||||||||||||
|
Edwardsport Settlement |
1 |
35 |
|||||||||||||
|
Midwest Generation Operations |
— |
53 |
|||||||||||||
|
Ash Basin Settlement and Penalties |
— |
3 |
|||||||||||||
|
Cost Savings Initiatives |
54 |
54 |
|||||||||||||
|
International Energy Operations |
29 |
70 |
|||||||||||||
|
Adjusted Tax Expense |
$ |
275 |
31.4% |
* |
$ |
1,467 |
31.8% |
* |
|||||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
|||||||||||||||
SOURCE Duke Energy
Article Date
2/16/20172/9/2017 - Opening a new Frontier: Duke Energy Renewables' 200-megawatt Oklahoma wind project delivering power
Opening a new Frontier: Duke Energy Renewables' 200-megawatt Oklahoma wind project delivering power
Source: PR Newswire
CHARLOTTE, N.C., Feb. 9, 2017 /PRNewswire/ -- Duke Energy Renewables has completed its large-scale wind power plant in Oklahoma, the 200-megawatt (MW) Frontier Windpower Project.
The wind facility, located in Kay County, east of Blackwell, became operational in late December 2016, and increases Duke Energy Renewables' U.S. wind capacity to 2,300 megawatts (MW).
"We had several 'firsts' with the Frontier project," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "It was our first wind project in Oklahoma, and it was the first time Vestas' extra-large 126-meter rotors were deployed in the U.S.
"We also formed a unique partnership with Blackwell Industrial Authority for our operations and maintenance building. A project of this scale was made possible by the overwhelming support of the community, landowners, vendors and our customer, City Utilities."
City Utilities of Springfield, Mo., is purchasing the power from the Frontier Windpower Project under a 22-year agreement.
"We're excited about the partnership we have developed with the Frontier Windpower Project," said Scott Miller, general manager, City Utilities of Springfield. "Providing a long-term renewable source of power generation in this changing market is critical to the future of our utility."
"Rarely does a project, by design, have a multigenerational economic impact on a region like Duke Energy Renewables' new Frontier wind farm," said John Robertson, executive director of Blackwell Industrial Authority. "Blackwell, Oklahoma, is fortunate to have been selected for their operations and maintenance facility, assuring decades of high-tech jobs and investment in our rural location. We are excited to welcome them to our community and are looking forward to future growth of the green energy sector in our state."
The 200-MW Frontier Wind produces enough emissions-free electricity to power about 60,000 average homes.
Amshore US Wind provided development support for the project, and Wanzek Construction was the contractor. Vestas supplied 61 V126-3.3 MW turbines for the site.
Video available: Visit our illumination site to download a 60-second time lapse video at http://illumination.duke-energy.com/articles/oklahoma-project-captures-the-power-of-the-wind. Still photos upon request.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 20 wind projects and 55 solar facilities in operation in more than a dozen states, totaling about 2,900 megawatts in electric-generating capacity.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
About City Utilities of Springfield
City Utilities of Springfield (CU) is a progressive, community-owned utility serving southwest Missouri with electricity, natural gas, water, broadband and transit services. CU has a diverse electric supply resource mix including coal, natural gas, wind, solar, landfill methane, and hydroelectric. CU provides electricity to 111,000 customers in our community.
About Vestas
Every single day, Vestas wind turbines deliver clean energy that supports the global fight against climate change. Wind power from Vestas' more than 55,700 wind turbines currently reduces carbon emissions by over 60 million tons of CO2 every year, while at the same time building energy security and independence. Today, Vestas has installed turbines in 74 countries, providing jobs for around 19,600 passionate people at our service and project sites, research facilities, factories and offices all over the world. With 52 percent more megawatts installed than our closest competitor and more than 71 GW of cumulative installed capacity worldwide, Vestas is the world leader in wind energy.
Duke Energy media contact: Tammie McGee
800.559.3853
City Utilities of Springfield media contact: Joel Alexander
417.831.8902
SOURCE Duke Energy
Article Date
2/9/2017Duke Energy gives moms, dads 6 weeks of fully paid parental leave
Source: PR Newswire
CHARLOTTE, N.C., Jan. 26, 2017 /PRNewswire/ -- Duke Energy for the first time is offering its employees fully paid parental leave – totaling six weeks – to bolster work-family balance and help attract and retain highly skilled workers.
The new benefit, effective Jan. 1, catapults Duke Energy to near the front of the pack among the nation's largest electric utilities, most of which do not offer dedicated paid parental leave.
Under Duke Energy's new benefit – available to both mothers and fathers – an employee can start the six-week paid leave any time within the first 16 weeks after the birth, adoption or foster care placement of a child.
A birth mother can take a total of at least 12 weeks' paid time off: at least six weeks through the company's existing, pregnancy-related short-term disability benefit, followed by six additional weeks under the new parental leave benefit.
"Paid parental leave will give Duke Energy employees important quality time to bond with their new children without the financial pressure of having to immediately return to work. That's good for our employees and their children," said Melissa Anderson, Duke Energy executive vice president and chief human resources officer.
"Coupled with our other work-family benefits, paid parental leave also will help us recruit and retain the next generation of highly skilled workers," she added.
The company began seriously exploring the possibility of adding paid parental leave to its benefits package during the past two years in response to strong employee interest and growing competition among companies for the best workers, Anderson said.
Outside the electric utility sector, Duke Energy joins a relatively small group of U.S. companies – across all industries – that offer paid parental leave.
Only 21 percent of American companies provide paid maternity leave, and only 17 percent provide paid paternity leave, according to a 2015 benefits survey conducted by the Society for Human Resource Management.
Duke Energy's new benefit also is somewhat unique in another way: Some companies that do offer paid parental leave make a distinction between maternal and paternal benefits, or between the "primary caregiver" and "nonprimary caregiver" parent – sometimes giving either the father or the nonprimary caregiver less paid time off.
Duke Energy makes no such distinctions, instead giving the full benefit to either parent.
Duke Energy's other family-focused employee benefits include a $5,000 reimbursement for costs associated with adopting a child; paid time off to care for a sick or injured child, parent or other family member; and 10 hours of paid time off each year to volunteer in an employee's child's school, or any other school.
Duke Energy employs about 29,000 workers – most of them in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky.
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
1/26/20171/24/2017 - Duke Energy powers Palmetto State communities with more than $2.8 million in grant funding in 2016
Duke Energy powers Palmetto State communities with more than $2.8 million in grant funding in 2016
Source: PR Newswire
GREENVILLE, S.C., Jan. 24, 2017 /PRNewswire/ -- Duke Energy is powering South Carolina with more than just electricity. Last year, the utility donated more than $2.8 million to nonprofit organizations throughout the state.
Palmetto State grant recipients in 2016 included the Urban League of the Upstate, United Way of Pickens County, Piedmont Agency on Aging, The Felician Center, Anne Springs Close Greenway, Florence-Darlington Technical College, Chapman Cultural Center, along with dozens of others.
"Community and service are integrated into everything our company does," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "Through the Duke Energy Foundation, we provide philanthropic support to address the needs of the communities where our customers live and work, and we look forward to continuing that legacy of charitable giving and employee volunteerism in 2017 and beyond."
Duke Energy's philanthropy helped fund projects such as STEM-focused after-school programs for at-risk and underserved children, technical college programs that are focused on breaking the cycle of poverty through education, environmental education programs in public schools, multiple library systems to provide summer reading programs and supporting cultural arts and arts-infused educational programs.
"The Duke Energy that we know is local," said Jennifer Evins, president and CEO of the Chapman Cultural Center. "Our Duke Energy has been supporting the arts and sciences in Spartanburg for more than 30 years. Duke Energy has sponsored countless education programs and helped us put STEM and STEAM programs in every school in Spartanburg County."
The Duke Energy Foundation also proactively responded to the emergent needs of communities that arose in 2016, by giving $100,000 to the One SC Fund, Harvest Hope Food Bank and American Red Cross for relief after Hurricane Matthew, as well as $25,000 to the South Carolina State Firefighters' Association in response to wildfires in the Upstate.
The grants are administered through the Duke Energy Foundation, which provides philanthropic support to address the needs vital to the health of its communities, with a focus on "K to Career" educational and workforce development initiatives, the environment and community impact. The foundation annually funds more than $30 million to communities throughout Duke Energy's seven-state service area.
Additionally, Duke Energy South Carolina employees volunteered nearly 14,000 hours of community service last year through the "Duke Energy in Action" program.
In 2016, Duke Energy employees rolled up their sleeves to help their neighbors throughout South Carolina, including revitalizing playgrounds for at-risk youth, supplying turkeys and helping to prepare Thanksgiving dinner for those in need, and organizing food and school supply drives, just to name a few.
For additional information on Duke Energy's community giving programs visit www.duke-energy.com/foundation.
About The Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The foundation provides more than $30 million annually in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at http://duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
1/24/2017Eastern NC's rebuilding efforts receive $200,000 from Duke Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RALEIGH, N.C., Jan. 23, 2017 /PRNewswire/ -- Duke Energy is giving $200,000 to seven nonprofit organizations in eastern North Carolina to help with rebuilding efforts in the wake of Hurricane Matthew last fall.
On Oct. 8, 2016, the hurricane hit the Carolinas as a Category 1 storm with North Carolina experiencing a total of 1.2 million power outages. At the peak of the storm, 12 counties in eastern North Carolina had 90 percent or more of their customers without power.
"Our neighbors in eastern North Carolina are still navigating through the destruction left by Hurricane Matthew," said David Fountain, Duke Energy's North Carolina president. "Nonprofit organizations are vital to helping families get back on their feet. Recovery and rebuilding efforts will take time, and Duke Energy is here to support these communities, not only in the days after the storm but also through the long haul."
In the wake of the storm, Duke Energy gave $100,000 to the Red Cross, with Piedmont Natural Gas, a Duke Energy business unit, giving another $25,000. Both donations went to disaster relief efforts in North Carolina, including support for more than 60 shelters that were set up in the eastern region.
New grants
North Carolina Community Foundation Disaster Relief Fund is receiving $50,000 as a 90-day challenge grant to support recovery efforts related to Hurricane Matthew. Individual donations will be matched dollar-for-dollar by the Duke Energy Foundation up to $50,000. Those wishing to make a donation to the recovery efforts in eastern North Carolina can visit http://www.nccommunityfoundation.org/giving. Donations can be made online or by check. Please indicate that it's for "Disaster Relief."
NCCF is the single statewide community foundation serving North Carolina and has made $116 million in grants since its inception in 1988. Its Disaster Relief Fund was established to support mid- to long-term unmet needs.
Other organizations receiving grants are the following:
The Gate of Lenoir County – $5,000 to help flood-stricken families meet basic needs by providing meals and clean clothes. The grant will also help with counseling and educational services.
United Way of the Cape Fear Area – $30,000 to support recovery efforts in Columbus County, including assisting with cleaning homes and restocking supplies and responding to other immediate needs. United Way is serving as the regional coordinating agency to support nonprofit recovery and rebuilding efforts.
United Way of Lenoir and Greene Counties – $20,000 to assist organizations helping families affected by the hurricane. United Way is working with community leaders and others to ensure donations are not duplicative and address areas with the greatest needs.
United Way of Robeson County – $50,000 to distribute among three funds:
United Way of Wayne County – $25,000 to assist with rebuilding and recovery services. The county still has nearly 200 individuals who have not returned to their permanent residence. More than 6,000 FEMA claims have been filed by county residents.
Wilmington Area Rebuilding Ministry (WARM) – $20,000 to purchase supplies and coordinate volunteers needed in Pender County. WARM has identified 12 family residences with displaced children ready for immediate assistance. The homes have been gutted and are prepared for rebuilding.
"This grant will provide critical home repair services to the victims of Hurricane Matthew and get these families back in their homes faster," said Jeannie Cariker "JC" Skane, executive director of WARM. "The funds will be used to overcome barriers, such as meeting federal emergency requirements that are not currently funded by other grant programs."
All grants are from the Duke Energy Foundation, which is funded by shareholder dollars.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. The Foundation provides more than $30 million annually in charitable gifts. The Foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at http://duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meghan Miles
24-Hour: 800.559.3853
Twitter: @DE_MeghanM
SOURCE Duke Energy
Article Date
1/23/2017Duke Energy says it's time again to "Share the Warmth"
Source: PR Newswire
CHARLOTTE, N.C., Jan. 19, 2017 /PRNewswire/ -- Unseasonably warm temperatures right now might fool a few robins or crocuses, but Duke Energy employees know that it's a long way to spring. That's why the company is continuing its 31-year tradition by partnering with employees and customers to lend a hand to those struggling to pay their energy bills.
Through its Share the Warmth program, the company works with more than 80 local agencies in the Duke Energy Carolinas service territory to aid qualified senior citizens, families and other customers with financial assistance.
The company annually matches up to $500,000 in employee and customer contributions during the heating season.
"We are committed to providing affordable energy to all of our customers, but we know some struggle to keep their homes warm during the winter," said Kodwo Ghartey-Tagoe, Duke Energy's South Carolina president. "As we move through another heating season, we want to remind our customers of the resources and support available to help with their winter bills."
In 2016, Duke Energy, its employees and customers provided $1,400,000 in bill assistance to North Carolina and South Carolina customers through Share the Warmth.
Since the program's establishment in 1985, it has provided more than $34.4 million to those in need. Duke Energy offers similar energy assistance programs across all of its service territories.
"We greatly appreciate the many customers and Duke Energy employees who contribute to Share the Warmth and our other energy assistance programs each year," said David Fountain, Duke Energy's North Carolina president. "Their generous support provides a meaningful impact for thousands of people across the Carolinas."
Contributing online to Share the Warmth is quick and easy and contributions may be tax deductible. Additionally, Duke Energy provides energy efficiency products, services and information to help customers save energy and money. For more information and to contribute to Share the Warmth, visit duke-energy.com.
About Duke Energy
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Ryan Mosier
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
1/19/2017Duke Energy, U.S. government resolve Florida power plant lawsuit
Source: PR Newswire
CHARLOTTE, N.C., Jan. 18, 2017 /PRNewswire/ -- Duke Energy and the U.S. government today reached a settlement to resolve a government lawsuit that alleged Duke Energy committed a technical violation of federal antitrust law related to its recently completed acquisition of a Florida power plant.
Duke Energy admits no wrongdoing or liability as part of the settlement, but agrees to pay a $600,000 civil penalty to settle the case and avoid the costs and uncertainties of continued litigation.
The case involves Duke Energy's $166-million acquisition of the Osprey Energy Center – a natural gas-fired power plant in Auburndale, Fla., previously owned by Calpine Construction Finance Co.
Duke Energy completed the acquisition on Jan. 3, 2017.
The Federal Energy Regulatory Commission and the Florida Public Service Commission approved the acquisition – as did the Federal Trade Commission (FTC).
At issue in the government's now-settled lawsuit, filed by the U.S. Justice Department, was the date – Jan. 30, 2015 – that Duke Energy sought FTC antitrust approval for the acquisition.
The Justice Department said Duke Energy should have sought FTC approval four months earlier when Duke Energy signed a separate contract with the plant's then-owner, Calpine Construction, to buy electricity from the power plant during the period when Duke Energy would be awaiting federal approval of the acquisition.
Duke Energy maintains it sought FTC approval on the correct date, in compliance with the relevant federal statute as it was widely interpreted by most companies at the time.
"We're pleased we've been able to successfully resolve this case," said Harry Sideris, president of Duke Energy Florida. "The addition of the Osprey power plant to our fleet of other Florida electricity generating facilities will help meet future energy demand and encourage economic growth throughout central Florida."
The settlement is subject to approval by the U.S. District Court in Washington, D.C.
The monetary penalty will not be included in Duke Energy customers' rates.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
1/18/2017Duke Energy turned N.C.'s sunny days into more solar energy capacity in 2016
Source: PR Newswire
CHARLOTTE, N.C., Jan. 17, 2017 /PRNewswire/ -- North Carolina's status as a national solar energy leader expanded further in 2016 as Duke Energy connected about 500 megawatts (MW) of solar capacity in the state to serve customers.
The combination of owned and purchased solar was enough to power about 105,000 homes at peak production.
"Renewable energy is important to our customers, and Duke Energy is responding by developing and owning solar plants – and also by connecting other solar projects to our system in North Carolina," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology.
Across its commercial and regulated businesses, Duke Energy invested in 100 MW of capacity during the year – including plants in Davie, Hertford, Northampton, Perquimans and Wilson counties.
The company also purchased and connected about 400 MW of solar capacity for customers in 2016 that was built by other developers.
Much of the new solar energy supports North Carolina's 2007 Renewable Energy and Energy Efficiency Portfolio Standard that mandates Duke Energy generate 12.5 percent of its retail sales in the state by renewable energy or energy efficiency programs by 2021.
Outlook for 2017
The solar outlook appears promising in 2017, too. The company is seeking about 400 MW of new capacity in its Duke Energy Carolinas territory in the Piedmont and western portions of the state. Also in 2017, Duke Energy is scheduled to begin operation at its 60-MW Monroe Solar Facility in Union County.
"Duke Energy is striving to expand renewable energy in North Carolina – creating a sustainable process that serves the needs of the environment, customers and stakeholders," added Caldwell.
N.C.'s Overall Solar Picture
Overall, through its regulated utilities and Duke Energy Renewables, the company owns and operates about 500 MW of solar capacity in North Carolina. See a detailed map.
It purchases almost 1,700 MW of solar capacity from other facilities in the state. More than 4,500 Duke Energy customers generate roughly 45 MW of private solar. According to the Washington, D.C.-based Solar Energy Industries Association, the entire state of North Carolina has more than 2,500 MW of solar capacity – making it No. 2 in the nation for overall solar power.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
SOURCE Duke Energy
Article Date
1/17/20171/13/2017 - Duke Energy moving forward with permanent water solutions; details financial supplements
Duke Energy moving forward with permanent water solutions; details financial supplements
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 13, 2017 /PRNewswire/ -- Duke Energy today received preliminary approval from the North Carolina Department of Environmental Quality (NCDEQ) of its plans to offer new, permanent water supplies to eligible neighbors near its North Carolina coal plants.
"Today's decision finally resolves this issue for plant neighbors and helps preserve the full range of safe basin closure options, which benefits all customers," said David Fountain, Duke Energy president - North Carolina.
"We care for the communities we serve and recognize the uncertainty neighbors experienced with water standards. That's why we voluntarily provided bottled water, supported the legislation to offer neighbors a new, permanent water supply and are now adding a goodwill financial supplement. At the same time, the body of evidence continues to grow, demonstrating that ash basins are not impacting well water quality," he said.
In its preliminary approval, NCDEQ noted it will gather additional information about water quality standards and the treatment systems. Duke Energy will provide the agency with any information that it requests as part of that process.
Goodwill financial supplement
To complement what's required under state law, the company has finalized the details of a one-time financial supplement to help provide eligible property owners peace of mind by addressing concerns they've expressed about property values, new water bills or disturbances during construction or maintenance. The cost of this program will be borne by shareholders and not included in customer bills.
More specific details and information on the goodwill supplement will be shared with plant neighbors in the coming weeks through mailings and information sessions. To learn more about the plant-specific water plans and the step-by-step process approved by the North Carolina Department of Environmental Quality, check duke-energy.com/WaterPlans.
Safe basin closure
Scientific data continue to show that coal ash basins are not impacting neighbors' wells, including a recent Duke University study that confirms hexavalent chromium is naturally occurring across the region and not originating from ash basins.
State law requires the company to offer new, permanent water supplies to well owners within one-half mile of ash basins. It had also required a series of dam enhancement projects, which have been completed. Neighbors also have the option to decline a new water supply and/or the goodwill financial supplement. Once water supply installation concludes, the state law calls for basins to receive a "low" ranking, which preserves the full range of closure options, including capping basins in place with long-term monitoring. The company remains committed to completing this work in ways that protect people, the environment and wallets.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact:
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
1/13/2017Duke Energy to announce fourth quarter and year-end 2016 financial results on Feb. 16
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 11, 2017 /PRNewswire/ -- Duke Energy will release its fourth quarter and year-end 2016 financial results at 7 a.m. ET on Thursday, Feb. 16.
An earnings conference call for analysts is scheduled from 10 to 11:30 a.m. ET that day.
In addition to discussing the fourth quarter and year-end 2016 financial results, the company will provide its 2017 adjusted diluted earnings per share guidance range and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 888-487-0354 in the United States or 719-457-2506 outside the United States. The confirmation code is 1359293. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Feb. 24, 2017, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 1359293. An audio replay and transcript will also be available by accessing the investors' section of the company's website.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
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Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
SOURCE Duke Energy
Article Date
1/11/2017Duke Energy Florida to build solar power plant in Suwannee County
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Jan. 11, 2017 /PRNewswire/ -- Duke Energy today announced the location of its newest universal solar power plant, which will provide cleaner, smarter energy solutions for Florida customers.
It will be built on 70 acres near Live Oak, Fla., just east of the existing Suwannee River Power Plant.
The new Suwannee Solar Facility will produce 8.8 megawatts (MW) of carbon-free energy, which is enough to power about 1,700 average homes at peak production. The company expects to break ground in the spring with full operation by the end of 2017.
The solar facility will be owned, operated and maintained by Duke Energy Florida.
In December 2016, the company retired three natural gas units at the Suwannee River Power Plant. Those units, built in the early 1950s, had the capacity to generate 129 MW of electricity. Three other 1980s-era natural gas units, capable of generating 155 MW, remain in operation as part of the system that supplies extra energy when demand from customers is the greatest, such as on a cold January morning or a hot August afternoon.
"We are committed to expanding clean energy in Florida," said Harry Sideris, Duke Energy state president – Florida. "Retiring older units like those at Suwannee River and building new solar power plants provides the greatest amount of renewable energy for customers, in the most economical way."
The Suwannee Solar Facility is the third in a long-range plan to bring more universal solar energy to Florida, which ensures residents have increasingly clean and diverse power sources.
Duke Energy Florida also owns and operates the Perry Solar Facility in Taylor County and the Osceola Solar Facility in Osceola County.
In addition to building universal solar in the Sunshine State, Duke Energy Florida is helping more than 120 residential and business customers per month interconnect private solar on their property.
The company established a renewables service center to make it easier for customers to interconnect. In the past five years, the number of customers who have interconnected private solar increased by 450 percent. Over the past eight years, Duke Energy has invested more than $4.5 billion in wind and solar projects in 13 states.
News editors
Construction and images of other Duke Energy solar projects are available upon request.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 MW of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Cell: 813.928.7263
24-Hour: 800.559.3853
Twitter: @DE_AnaGibbs
SOURCE Duke Energy
Article Date
1/11/2017Duke Energy Renewables acquires three California solar projects from SunPower
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 10, 2017 /PRNewswire/ -- Duke Energy Renewables announced today it has acquired three solar power projects from SunPower Corp. totaling 55 megawatts (MW).
The sites include the 20-MW Rio Bravo I, the 20-MW Rio Bravo II, and the 15-MW Wildwood Solar II solar power plants. They are located in Kern County, California, adjacent to two existing solar sites owned by Duke Energy Renewables.
"These solar projects are excellent facilities that increase our solar presence in California by 50 percent," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "As we continue to grow our footprint in the state, we're pleased to provide cost-efficient, sustainable power systems that contribute to California's leadership in renewable energy."
The acquisition was completed in late December, the same month the facilities were placed in service. Southern California Edison is purchasing the power generated by the plants under 20-year agreements.
"Forward-thinking utilities today are diversifying their energy portfolio with increasing amounts of solar capacity," said Ty Daul, SunPower senior vice president, Americas Power Plants. "We are proud to partner with Duke Energy to serve more California customers with affordable, emission free solar power generated from these facilities."
The sites consist of high-efficiency SunPower solar panels. More than 2,600 MW of solar power plants worldwide are using SunPower's leading solar technology.
Duke Energy Renewables growing California operations
In December, Duke Energy Renewables also completed its 20-MW Longboat Solar Power Project in San Bernardino County, California, which was acquired from EDF Renewable Energy and announced in March of 2016.
The following is a summary of Duke Energy Renewables' California solar projects acquired and completed in 2016:
|
Project name Location |
In service |
Size |
Number |
Customer |
|
Rio Bravo I Kern County |
Dec. 2016 |
20 MW |
59,770 |
Southern California |
|
Rio Bravo II Kern County |
Dec. 2016 |
20 MW |
59,770 |
Southern California |
|
Wildwood II Kern County |
Dec. 2016 |
15 MW |
48,200 |
Southern California |
|
Longboat San Bernardino County |
Dec. 2016 |
20 MW |
84,000 |
Southern California |
In addition, Duke Energy Renewables has six other solar power projects in California that began operations prior to 2016:
|
Project name Location |
In service |
Size |
Customer |
|
Sunset Reservoir San Francisco |
Dec. 2010 |
5 MW |
San Francisco Public Utilities |
|
Highlander Twentynine Palms |
June 2013 |
21 MW |
Southern California Edison |
|
Pumpjack Kern County |
Dec. 2014 |
20 MW |
Southern California Edison |
|
Wildwood Kern County |
Dec. 2014 |
20 MW |
Southern California Edison |
|
Seville I Imperial County |
Dec. 2015 |
20 MW |
San Diego Gas & Electric |
|
Seville II Imperial County |
Dec. 2015 |
30 MW |
Imperial Irrigation District |
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 20 wind projects and 55 solar facilities in operation in more than a dozen states, totaling about 2,900 megawatts in electric-generating capacity.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
About SunPower
As one of the world's most innovative and sustainable energy companies, SunPower Corporation (NASDAQ:SPWR) provides a diverse group of customers with complete solar solutions and services. Residential customers, businesses, governments, schools and utilities around the globe rely on SunPower's more than 30 years of proven experience. From the first flip of the switch, SunPower delivers maximum value and superb performance throughout the long life of every solar system. Headquartered in Silicon Valley, SunPower has dedicated, customer-focused employees in Africa, Asia, Australia, Europe, North and South America. For more information about how SunPower is changing the way our world is powered, visit www.SunPower.com. SUNPOWER and the SUNPOWER logo are registered trademarks of SunPower Corporation in the U.S. and other countries as well.
Contact: Duke Energy, Tammie McGee
800.559.3853
Contact: SunPower, Ingrid Ekstrom
510.260.8368, iekstrom@SunPower.com
SOURCE Duke Energy
Article Date
1/10/20171/6/2017 - Duke Energy continues to monitor the first winter storm of 2017; crews prepared to respond
Duke Energy continues to monitor the first winter storm of 2017; crews prepared to respond
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 6, 2017 /PRNewswire/ -- Duke Energy is closely monitoring the first winter storm of the year, which is expected to bring snow to North Carolina and South Carolina this weekend.
Heavy wet snow or freezing rain can cause outages due to the weight they create on tree limbs that can break or sag into power lines. Widespread outages usually do not occur until there is more than six inches of wet snow or a quarter-of-an-inch of ice accumulation.
At this time, the company is not expecting widespread outages in areas where the snow is dry and accumulation totals do not exceed six inches. However, in areas where snow accumulations exceed six inches, some power outages could occur.
Duke Energy meteorologists will continue to monitor weather conditions and the company will adjust its preparation plans accordingly. Weather can be unpredictable, so it is always good to be prepared for whatever Mother Nature may deliver. Snow can create hazardous driving conditions resulting in traffic accidents and downed power poles causing isolated outages.
The company is prepared to respond if severe weather situations occur. Line technicians, service crews and other personnel are available throughout its service area and are ready to respond anytime outages and emergencies occur.
Safety Reminders
Reporting outages
Customers who experience an outage during the storm have choices on how to report it:
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur.
Cold temperatures increasing demand
As temperatures are forecasted to dive well below freezing later this weekend and early next week, Duke Energy is prepared to meet its customers' energy needs across the Carolinas.
Our system operators are closely monitoring the electric power system and the company has an adequate supply of electricity to meet demand.
The low temperatures will put higher stress on the equipment used to generate and deliver electricity. Isolated equipment problems are possible, which could result in some scattered outages.
When temperatures plummet, energy bills can skyrocket as customers bump up their thermostats to stay warm. Customers can use less and reduce their costs by following these cold weather tips:
Money-saving tips to combat the cold
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
1/6/2017Duke Energy powered up Florida with more than $3 million in grant funding in 2016
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Jan. 6, 2017 /PRNewswire/ -- Duke Energy is powering Florida with more than electricity. Last year, the company donated more than $3 million to Sunshine State non-profit organizations.
The grants are administered through the Duke Energy Foundation, which provides philanthropic support to address the needs vital to the health of its communities, with a focus on "K to Career" educational and workforce development initiatives, the environment and community impact.
The foundation annually funds more than $30 million to communities throughout Duke Energy's seven-state service area.
"Investing in our communities is an integral part of Duke Energy's philosophy," said Harry Sideris, president, Duke Energy Florida. "We look forward to continuing our legacy of charitable giving and employee volunteerism this year, helping to make Florida a great place to work, live and raise our children."
Florida grant recipients in 2016 included organizations from across the state, including Audubon of Florida, North Florida Economic Development Partnership Foundation Inc., United Arts of Central Florida, Tampa Bay Watch Inc., Orlando Science Center, Bok Tower Gardens, education foundations supporting schools and dozens of others.
Since 2000, the company has given more than $58 million to Florida charitable organizations.
Duke Energy's philanthropy helped fund projects such as providing science, technology, engineering and math (STEM)-focused after-school classes for under-served elementary and middle school students, assisting conservancy initiatives and supporting cultural arts and arts education. The company also partnered with the Tampa Bay Rays on its Victories for Veterans program, through which the Duke Energy Foundation donated $90,600 to charities that support veterans.
The Duke Energy Foundation also proactively responded to emergent needs that arose in 2016, including a $25,000 donation to Ecuador's disaster relief fund, $100,000 to the OneOrlando fund following the Pulse nightclub tragedy and $100,000 to assist with recovery efforts in the most impacted regions of Florida following Hurricane Matthew.
In 2016, the company invested $1 million, its largest gift cycle, to educational initiatives energizing 33 organizations and more than 100,000 students. The gift was doubled to $2 million with matching funds from the Consortium of Florida Education Foundations.
"Throughout Florida, teachers are providing the types of hands-on learning opportunities that truly engage students because of the support of Duke Energy," said Mary Chance, president of the Consortium of Florida Education Foundations. "Their long-term investment in both our statewide organization and our local education foundations in their service territory is making a meaningful difference, particularly in the STEM education arena."
While the corporation has provided financial support, Duke Energy Florida employees have also rolled up their sleeves to help their neighbors. Duke employees have volunteered more than 51,000 hours of community service since 2010 through the "Duke Energy in Action" program.
In 2016, employees participated in dozens of volunteer events in Florida, including removing invasive algae species from Kings Bay in Citrus County, cleaning up Clearwater Beach prior to sea turtle nesting season, planting sea oats at St. George Island, completing landscaping and beautification projects at Bay Pines Veterans Affairs Healthcare System and organizing food, clothing and school supply drives for those in need, just to name a few. A wrap-up video highlighting Duke Energy Florida volunteer events is available at https://www.youtube.com/watch?v=RMwcHboEnyQ.
For additional information on Duke Energy's community giving programs visit www.duke-energy.com.
Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
SOURCE Duke Energy
Article Date
1/6/2017Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 4, 2017 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.855 per share payable on March 16, 2017, to shareholders of record at the close of business Feb. 17, 2017.
Duke Energy has paid a cash dividend for 91 consecutive years.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
SOURCE Duke Energy
Article Date
1/4/2017Duke Energy completes sale of international business in Brazil
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 29, 2016 /PRNewswire/ -- Duke Energy today completed the previously announced sale of its international business in Brazil to China Three Gorges Corp. for approximately $1.2 billion enterprise value.
The company is exiting the Latin American market to focus on its domestic regulated business, which was further bolstered by the acquisition of Piedmont Natural Gas.
Duke Energy announced the sale of its Brazil assets to China Three Gorges Corp. and the sale of its remaining Latin American assets - in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina - to I Squared Capital in Oct. 2016. The I Squared Capital sale was completed on Dec. 20, 2016.
"Today marks a significant milestone in the strategic transformation of our company," said Duke Energy chairman, president and CEO Lynn Good. "We completed these transactions ahead of schedule and are now fully focused on growing our regulated businesses in 2017 and beyond, including the natural gas platform."
The transactions with China Three Gorges Corp. and I Squared Capital are expected to generate available cash proceeds of approximately $1.9 billion, excluding transaction costs and subject to working capital adjustments, which will be used to reduce Duke Energy holding company debt. Existing federal tax attributes will result in no immediate U.S. tax impacts.
China Three Gorges Corp. is acquiring Duke Energy assets consisting of 10 hydroelectric generation plants – eight plants totaling 2,057 megawatts on the border between Sao Paulo and Parana states; and two plants totaling 33 megawatts on the Sapucai Mirim River in Sao Paulo state.
Duke Energy's 25 percent equity investment in National Methanol Company – a Saudi Arabian regional producer of methanol and methyl tertiary butyl ether (MTBE), a gasoline additive – is not included in the sales to China Three Gorges Corp. and I Squared Capital.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as rooftop solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business; operational interruptions to our gas distribution and transmission activities; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; the ability to successfully integrate the natural gas businesses since the acquisition of Piedmont Natural Gas Company, Inc. and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial business operates a growing renewable energy portfolio and transmission infrastructure across the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Catherine Butler
800.559.3853
Analysts contact: Mike Callahan
704.382.0459
SOURCE Duke Energy
Article Date
12/29/2016South Carolina customers use $12 million in rebates from Duke Energy to go solar
Source: PR Newswire
GREENVILLE, S.C., Dec. 22, 2016 /PRNewswire/ -- As a former college instructor on the topics of economics and finance, Bob Horst knows a good deal when he sees one.
Horst had considered installing solar generation at his home, but the upfront cost – while steadily declining – are still a significant out-of-pocket expense.
Once he heard about Duke Energy's Solar Rebate Program, he jumped at the opportunity.
"The rebate program brought my cost to install down significantly," Horst said. "Since then, our bill has been nearly zero. Now I'm planning to buy an electric car, and I love the fact that I will be able to power that at home with solar energy."
Act 236, an omnibus solar bill passed by the South Carolina General Assembly in 2014, opened the door for Duke Energy to offer a variety of solar programs to customers. The rebate program provides $1 per watt for qualified residential customers who install systems up to 20 kilowatts on their property; and for business customers who install systems up to 1 megawatt on their property.
Nonprofit and governmental entities may be eligible to receive a rebate of $1.50 per watt for systems up to 20 kilowatts on their property.
In only one year, more than 1,800 residential customers and 125 business customers have applied to participate in Duke Energy's Solar Rebate Program. The program will have paid nearly $12 million in rebates to South Carolina customers by the end of 2016. The rebates help with the upfront cost of installing solar panels for customers – making the technology more accessible to the company's 730,000 customers in the state.
"Our customers have responded very positively to our solar rebate program," said Clark Gillespy, Duke Energy's South Carolina state president. "It's expanded the choices our customers have in meeting their energy needs by helping to lower the upfront costs associated with building solar installations."
More than 40 megawatts-ac of solar power is scheduled to come online already, putting Duke Energy more than halfway to the 53-megawatt goal cited by the act.
With the rebate program nearing capacity, a waiting list has been established for some of the offerings associated with this program. All applications for the rebate program must be vetted and approved. Should an application be denied, the waiting list will be used on a first-come, first-served basis.
Though the rebate program is coming to a close, customers can continue to install solar power using tax credits through the state and federal government. Customers may also choose to use solar power on site through net metering.
Additionally, Duke Energy will begin offering in 2017 a Shared Solar Program. Shared solar allows customers who can't or don't want to put solar on their property the ability to participate in the economic and environmental benefits of solar.
More information about Duke Energy's solar programs in South Carolina can be found on the Duke Energy website.
Duke Energy is a national leader in solar energy, with more than 50 solar facilities in its fleet across seven states.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
Twitter: @DE_RyanMosier
SOURCE Duke Energy
Article Date
12/22/2016Greensboro's transition to electric buses gets $450,000 boost from Duke Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 22, 2016 /PRNewswire/ -- A $450,000 grant from Duke Energy will help Greensboro's Department of Transportation (GDOT) install an electric charging station for the future influx of all-electric buses in the city.
The grant is part of Duke Energy's overall $1.5 million "EV Charging Infrastructure Project" - expanding charging for electric vehicles throughout North Carolina.
"Greensboro presented a compelling case for electric buses and the need for charging infrastructure," said Davis Montgomery, Duke Energy government and community relations manager. "Duke Energy's grant will further promote electric transportation in this area."
As part of an overall $1.5 million EV Charging Infrastructure Project, the company recently announced funding for more than 200 public EV charging stations throughout North Carolina for passenger vehicles.
As for bus charging, the Greensboro Transportation Authority (GTA) is transitioning its fleet of 47 diesel buses to all electric vehicles. Over the next 10 years, the city plans to pair $4.5 million in voter-approved bonds with federal funds to replace diesel buses that have met or exceeded their useful life of 12 years or 500,000 miles.
GDOT director Adam Fischer said GTA is making this transition because the overall life cycle cost of electric buses is $250,000 to $400,000 less than diesel buses due to lower operating and maintenance costs.
Electric buses have no tailpipe emissions and are up to four times as economical to operate than conventional buses. Greensboro could have its first two or three electric buses on the streets by 2018.
The Duke Energy grant will allow the GDOT to purchase a rapid-charging station for the J. Douglas Galyon Depot. One rapid-charging station can replenish a bus battery array in seven to 10 minutes.
The Duke Energy program was part of a recent settlement with the U.S. Environmental Protection Agency and environmental groups.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
SOURCE Duke Energy
Article Date
12/22/201612/21/2016 - Indiana utility regulators approve upgrades at Duke Energy Indiana's Markland Hydro Station
Indiana utility regulators approve upgrades at Duke Energy Indiana's Markland Hydro Station
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., Dec. 21, 2016 /PRNewswire/ -- Greater energy output, new equipment and improved reliability are just some of the advantages of the upgrade and modernization project approved by state regulators for Duke Energy Indiana's Markland Hydro Station near Florence, Ind., along the Ohio River.
The Indiana Utility Regulatory Commission approved the project on Dec. 14, following a settlement agreement that was reached with the Indiana Office of Utility Consumer Counselor (OUCC).
"We are pleased with the commission's decision that allows us to keep the Markland Hydro Station operating for many more years," said Melody Birmingham-Byrd, state president of Duke Energy Indiana. "The low-cost, carbon-free power generated at Markland is an important part of our diversified portfolio of generation sources."
"The agreement that received commission approval in this case is the result of good-faith negotiations between the OUCC and Duke Energy," said Indiana Utility Consumer Counselor David Stippler. "The order ensures that Duke Energy's customers will continue to benefit from this renewable energy source that has served them dependably for many years, while doing so at a reasonable cost."
The station's three hydroelectric generators, turbines and associated equipment, which have been in service for nearly 50 years, will be upgraded and modernized one at a time, beginning in 2017. The total project is expected to take approximately four years and will cost approximately $152 million. After the project is completed, the station's energy output will increase by approximately 10 percent.
Duke Energy Indiana
Duke Energy Indiana's operations provide about 7,100 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
12/21/2016Wildlife and wild places in South Carolina will benefit from Duke Energy grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., Dec. 21, 2016 /PRNewswire/ -- The Duke Energy Foundation is investing more than $350,000 in 13 South Carolina environmental nonprofit organizations.
The grants will fund environmental projects, wildlife conservation efforts and environmental educational programs across the Duke Energy service territory in the state.
"We are dedicated to protecting the natural beauty of South Carolina and being good stewards of the environment," said Clark Gillespy, Duke Energy's South Carolina president. "By supporting the organizations that do this hard work each and every day, we can help protect and restore wildlife and natural resources, and support quality environmental education programs in our state."
One of the grants, totaling $25,000, will help the South Carolina Aquarium bring a program to students in Lee and Marion counties that will help them learn about human and natural impacts that can pollute a waterway, conduct water quality testing and analyze real evidence. The students will understand how water resources are connected, and how pollution in one area can negatively impact water quality and wildlife in another.
"Thanks to the generosity of the Duke Energy Foundation, we can go farther than ever to serve South Carolina students with our education outreach," said Kevin Mills, South Carolina Aquarium president and CEO. "Together, we can inspire a new generation to protect our environment and the wildlife and wild places we hold so dear."
Annually, the Duke Energy Foundation funds nearly $2 million in charitable grants in South Carolina. These grants are distributed across each of its priority areas, including environment, community impact, K-12 education and workforce development.
Environmental grant recipients
These organizations received grants to improve the environment in their local communities:
South Carolina Aquarium – $25,000 to support the traveling environmental education outreach program, Rovers, specifically underwriting service to seventh graders in Lee and Marion counties.
Greenville County Soil and Water Conservation District – $14,000 for Project WET, an educator training program that promotes awareness of water and empowers community action to solve complex water issues.
Pee Dee Land Trust – $45,000 for the Landowner Education Program, which educates private landowners about options for protecting their land and family legacy.
South Carolina Waterfowl Association – $27,000 to support Camp Leopold, a school year natural resource conservation and environmental education camp in Pinewood, S.C., that reconnects students to the land community through the use of hands-on environmental education programs.
Beautiful Places Alliance – $35,000 to help South Carolina State Parks and partner agencies implement a controlled-burn program in several Upstate state parks, including Oconee, Devils Fork, Table Rock and Paris Mountain.
Clemson University – $26,400 to continue support of programs that provide an environmental education program on interrelationships of energy production and environmental stewardship for K-12 teachers at the Duke Energy Bad Creek Hydroelectric Station in Salem, S.C.
Palmetto Conservation Foundation – $15,000 for a public education campaign to inform communities along the Palmetto Trail about the new Palmetto Conservation Corps, a program that emphasizes environmental stewardship and community service.
Newberry Soil and Water Conservation District – $20,000 to help complete the task of establishing native species for all wildlife – including pollinators – on 240 acres of abandoned pasturelands.
Anne Springs Close Greenway – $46,300 to bring hands-on environmental outreach education to all second grade students in Fort Mill, Rock Hill and Lancaster School Districts.
York Soil and Water Conservation District – $20,145 to expand the school garden lesson series to an additional 10 elementary schools in York County, and establish and maintain garden programs at the schools.
Our Upstate SC – $10,000 to help create the Upstate Outdoor Activity & Recreation Inventory & Interactive map, a first-of-its-kind resource for Upstate residents and visitors who wish to visit the region's parks, recreation areas and natural resources.
TreesGreenville – $34,144 for the "Energy Saving Tree" program, which helps residents conserve energy and reduce energy bills through strategic tree planting.
Francis Marion University – $34,800 to expand restoration of the native longleaf pine forest of the Windham Environmental Center, develop educational materials related to the center and provide research and educational equipment for students and faculty.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036
24-Hour: 800.559.3853
Twitter: @DE_RyanMosier
SOURCE Duke Energy
Article Date
12/21/201612/20/2016 - Duke Energy completes sale of international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador, Argentina
Duke Energy completes sale of international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador, Argentina
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 20, 2016 /PRNewswire/ -- Duke Energy today completed the previously announced sale of its international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital for approximately $1.2 billion enterprise value.
The company is exiting the Latin American market to focus on its domestic U.S. regulated core business.
Duke Energy announced the sale of its assets in the six countries to I Squared Capital and the sale of its Brazil assets to China Three Gorges Corp. in Oct. 2016.
"We are pleased to have closed this transaction so quickly," said Duke Energy chairman, president and CEO Lynn Good. "The sale of the Brazilian assets is expected to be completed in the near future."
The transaction is expected to generate available cash proceeds of approximately $1 billion, excluding transaction costs and subject to working capital adjustments, which will be used to reduce Duke Energy holding company debt. Existing federal attributes will result in no immediate U.S. federal-level cash tax impacts to the company.
Duke Energy assets that I Squared Capital is acquiring include a portfolio of hydroelectric and thermal power plants, totaling 2,300 megawatts, plus transmission infrastructure and natural gas processing facilities.
Duke Energy's 25 percent equity investment in National Methanol Company – a Saudi Arabian regional producer of methanol and methyl tertiary butyl ether (MTBE), a gasoline additive – is not included in the sales to I Squared Capital and China Three Gorges Corp.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state laws, regulations and legal requirements related to coal ash remediation, including amounts for required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; federal and state regulations, laws and other efforts designed to promote and expand the use of energy efficiency measures and distributed generation technologies, such as rooftop solar and battery storage, in Duke Energy service territories could result in customers leaving the electric distribution system, excess generation resources as well as stranded costs; advancements in technology; additional competition in electric markets and continued industry consolidation; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business; operational interruptions to our gas distribution and transmission activities; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; the ability to successfully integrate the natural gas businesses since the acquistion of Piedmont Natural Gas Company, Inc. and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Tammie McGee
800.559.3853
Analysts contact: Mike Callahan
704.382.0459
SOURCE Duke Energy
Article Date
12/20/2016Duke Energy issues winter heating forecast for Ohio and Kentucky residential customers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Dec. 20, 2016 /PRNewswire/ -- Duke Energy customers are expected to use more energy to heat their homes – and see higher heating bills – this winter compared to one year ago. That's according to the company's winter heating forecast for the Greater Cincinnati region.
"Temperatures last winter were mild compared to normal, and the cost of natural gas was near record lows," said Jim Henning, president of Duke Energy Ohio and Kentucky. "We expect this winter to be colder, which means customers will likely use more natural gas to heat their homes. Combined with higher natural gas prices, our customers should be prepared for higher heating bills this winter."
Customers can expect their monthly heating bills to increase $20-$40 this winter, though some customers could see higher or lower bills depending on a variety of factors. These include actual winter temperatures, personal preferences, the efficiency of their homes and more.
Winter forecast: Colder than normal
Duke Energy's team of meteorologists forecasts average winter temperatures to be about 2 degrees lower than normal this winter in Southwest Ohio and Northern Kentucky. By comparison, last winter was about 4.5 degrees warmer than normal for the region.
Natural gas prices are up year-over-year
In addition, customers who heat their homes with natural gas should expect higher heating bills due to the wholesale price of natural gas, which is expected to be higher compared to last year – though still low by historical standards.
Duke Energy purchases natural gas on behalf of its customers in Kentucky, as well as Ohio customers who do not choose to receive natural gas supply from a competitive retail natural gas service provider. The company's actual cost of natural gas supply is passed through to customers on a dollar-for-dollar basis with no added markup.
"Natural gas prices fluctuate based on a number of factors – similar to the per-gallon cost of gasoline to fill up a car," said Henning. "We work to keep these supply costs low by securing natural gas under a variety of pricing and term options."
Ways to manage winter heating bills
Duke Energy offers many free programs and tools to help customers better understand and manage their monthly energy expenses.
Tips to save energy
Duke Energy offers the following tips to help customers save on their winter energy bills:
Additional resources
Duke Energy partners with local agencies to help customers stay warm. Please visit our website or call 800.544.6900 to learn more about the special assistance programs available to our Ohio and Kentucky customers.
In addition, we realize financial emergencies may occur from time to time. Customers who receive a disconnection notice and cannot pay before the disconnection date are encouraged to call us at 800.544.6900 to learn about setting up a payment arrangement.
About Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 840,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 525,000 customers.
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
513.287.4152 | 24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
12/20/201612/19/2016 - Land conservation, wildlife habitat to benefit from nearly $1.4 million from Duke Energy
Land conservation, wildlife habitat to benefit from nearly $1.4 million from Duke Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 19, 2016 /PRNewswire/ -- Duke Energy will invest nearly $1.4 million to help protect wildlife habitat and land conservation efforts in South Carolina for many years to come.
The company will provide:
In addition to providing power to the region, Lake Keowee and Lake Jocassee have provided sanctuary for wildlife and helped drive the economy through tourism for many decades.
These contributions are a result of the Keowee-Toxaway Relicensing Agreement Duke Energy entered into with 16 other stakeholder organizations during the Keowee-Toxaway Hydroelectric Project Federal Energy Regulatory Commission relicensing process.
"Our board is proud to accept this gift from Duke Energy to help further the worthwhile purposes of the Oconee County Conservation Bank (OCCB), including the conservation of natural resources, wildlife habitat, clean air and clean water," said Shea Airey, chair, Oconee County Conservation Board.
The new 30-year license for the Keowee-Toxaway Hydroelectric project, which took effect Sept. 1, 2016, represents a culmination of nearly a decade of collaboration among governmental and community stakeholders.
Other benefits of the license include improvements to existing public recreational areas on Lake Jocassee and Lake Keowee, and conservation of approximately 2,900 acres of property adjoining the lakes to preserve and protect ecologically and culturally significant resources.
"Receipt of the new operating license allows us to move forward with the plan developed during the relicensing stakeholder process. These contributions are key elements of that plan and we are pleased to invest in efforts that will help protect and enhance the natural environment in this region for generations to come," said Steve Jester, Duke Energy's vice president of water strategy, hydro licensing and lake services. "These investments also benefit citizens and millions of visitors who travel to the area each year."
The Keowee-Toxaway Hydroelectric Project begins with Lake Jocassee in North Carolina and South Carolina. It flows into Lake Keowee, then downstream to the Army Corps of Engineers' Lake Hartwell Project.
The project is made up of two reservoirs with two powerhouses, spans approximately 25 river miles and encompasses approximately 480 miles of shoreline.
About Duke Energy Carolinas
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Kim Crawford
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
12/19/2016Holiday getaway? Learn how to save on your electric bill while you're away
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 15, 2016 /PRNewswire/ -- Before you pack the presents to visit family out of town or hit the road for a holiday vacation, Duke Energy suggests customers take a few quick actions that can lower their electric bills while they are away.
These five simple steps will reduce the energy your home uses while you are away and may help keep a few dollars in your pocket for next year's vacation fund. Savings will vary depending on the number of days you are away, energy-saving tips implemented, home size, heating system efficiency and insulation level.
Vacation Energy Saving Tips
With these simple tips, customers can enjoy a holiday vacation and a smaller energy bill when they return home.
Light up the holidays and save
Another holiday energy-saving idea is to replace incandescent lights and displays with LED versions. Duke Energy's holiday lighting calculator will provide estimated savings customized to your holiday lighting plans. Check out the tool at https://www.duke-energy.com/holiday-lighting-calculator/ to see your savings. Just four 100-bulb strands of large-scale (C9) incandescent bulbs lit for six hours a day will add about $50 a month to your energy bill. The same setup with LED bulbs would cost just over $7 a month to light.
Duke Energy also recommends customers add timers or photo sensors to ensure displays are turned off during daylight hours.
Duke Energy is an industry leader in the development and implementation of programs to help customers save energy and money. Customers can save year-round by taking advantage of the many options the company offers.
Visit duke-energy.com/save for additional information on all of Duke Energy Florida's energy-saving programs, rebates and incentives.
Additional resources
For more information on how to cut costs and stay warm this winter, visit https://www.duke-energy.com/home/savings/winter-heating-energy-savings, and read our story on illumination about how predictions indicate this winter will be significantly colder than last season.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
12/15/2016Duke Energy project to increase public EV charging stations in N.C. by 30 percent
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 15, 2016 /PRNewswire/ -- More than 200 public electric vehicle (EV) charging stations will be installed soon under Duke Energy's "EV Charging Infrastructure Project."
Today, the company announced recipients under the program, which includes new stations planned for almost 50 counties around the state. See the list of all recipients and the number of stations awarded.
The $1 million project pays up to $5,000 for the purchase and installation of each charging port. That should cover the cost of the stations – depending on its proximity to existing electrical infrastructure. The project received overwhelming interest – with more than 500 charging stations requested from around the state.
"The robust interest throughout the state is a positive sign that public EV charging will continue to grow in North Carolina," said David Fountain, Duke Energy's North Carolina president. "Expanding charging infrastructure is critical for more EV adoption in the future."
Duke Energy has been active in building public charging stations at parking decks, libraries and shopping areas. According to Advanced Energy, an independent, non-profit organization established by the North Carolina Utilities Commission, there are about 5,300 registered plug-in EVs and about 700 public charging ports spread out around North Carolina. See the current map of EVs and EV charging in North Carolina.
"We are excited to receive the grant from Duke Energy for two electric vehicle charging stations," said Dr. Carol Spalding, president of Rowan-Cabarrus Community College in Salisbury. "The stations will be located on the North Campus and will be a very visible example of the college's commitment to sustainability."
Recipients have the ability to put the charging stations in a location of their choice – and operate them how they see fit. For recipients who choose not to go forward with the installations – other recipients will be named.
The Duke Energy program was part of a recent settlement with the U.S. Environmental Protection Agency and environmental groups.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
SOURCE Duke Energy
Article Date
12/15/2016Op-ed: Preparing for hurricanes and the winds of change
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 14, 2016 /PRNewswire/ -- On Sept. 25, the National Hurricane Center tracked a storm off the African coast. Like hundreds of storms each year, the center gave it a standard monitoring tag: Invest 97L. Yet this one was different. Days later, it would become Hurricane Matthew − one of the five most destructive hurricanes to strike the Carolinas.
Millions of people were without power. At Duke Energy (NYSE: DUK) alone, we needed to restore 1.7 million customers in Florida and the Carolinas. The Carolinas were hit the hardest, and in some areas, we had to completely rebuild parts of our grid. And we faced logistical challenges. Because hotels were full with displaced people, we built temporary tent cities to house and feed thousands of linemen.
A historic storm like Matthew requires a historic response. And that's what we did – restoring power to every customer who could receive it. In the Carolinas, we set a company record for restoring power, reducing outages from 1.4 million to fewer than 60,000 in five days.
How did we do it? We relied on three key assets in our response.
Resources. We called on crews and resources from across our company. Linemen from Indiana, Ohio and Kentucky headed south to support restoration efforts in Florida. As the storm turned north, they joined our Florida crews in traveling to the Carolinas.
Partnerships. Our industry has a strong tradition of supporting each other during natural disasters. This mutual assistance helped us quadruple our restoration resources. In days, we went from 2,300 linemen and support employees to over 10,000. Crews came from 24 states − and even as far away as Canada.
Communication channels. We placed over a million proactive calls to customers and sent more than 3 million emails. A dedicated website kept customers updated on our response, and we used social media to share important information that was viewed more than 8 million times.
As we always do, we're analyzing our response. Over the years, we have developed restoration methods designed for the bulk power system that exists today. We will continue to upgrade and fine-tune, always looking for ways to improve our system for storm resilience and deliver a better experience for our customers.
But we will have new lessons to learn. We are undertaking a broad modernization of our power grid to give customers even more reliable, affordable electricity with more choices and control. This investment includes enabling more distributed energy resources.
As I reflected on the aftermath of Hurricane Matthew, I was reminded that, as future weather events occur, we will be restoring a very different electric system five, 10 and 20 years from now. Distributed resources offer benefits, but are not immune to wind damage and flooding. In Hurricane Matthew, some of our solar fields in eastern North Carolina were underwater following the storm.
Our engineers are at work evaluating the introduction of these new technologies to modernize our grid. But they're also evaluating how we can continue to leverage large-scale restoration efforts to bring electricity back to all of our customers – even those who are relying on smaller, distributed resources for some of their power needs.
Electricity is vital to our lives and livelihoods, regardless of how it is generated and delivered. My industry is dedicated to keeping it safe, clean and constant – whatever the weather.
Contact: Tom Williams
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
12/14/2016Duke Energy's Water Resources Fund grants top $5 million over two years
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 13, 2016 /PRNewswire/ -- Twelve organizations in North Carolina, South Carolina and Virginia will share $777,879 in new grants from Duke Energy's Water Resources Fund to support environmental and wildlife programs.
The Water Resources Fund is a $10 million multiyear commitment from Duke Energy to help local nonprofits continue to protect and improve the environment, including waterways used year-round across the Carolinas and neighboring states.
"In two years, the Water Resources Fund has benefited 59 projects across the Carolinas and Virginia, providing over $5 million in support," said Shawn Heath, president of the Duke Energy Foundation. "These projects are strengthening water quality and reinforcing the importance of conservation for citizens and visitors across the region."
Recipients are selected by an independent body that includes five environmental experts and two Duke Energy employees.
Organizations receiving the new grants are:
Additional details on the grants follow:
North Carolina
South Carolina
Virginia
About the Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Anne Sheffield
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
12/13/2016Duke Energy to recycle coal ash at H.F. Lee Plant in Goldsboro
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 13, 2016 /PRNewswire/ -- Duke Energy today announced plans to excavate coal ash from four basins at the H.F. Lee Plant in Goldsboro, N.C., and safely recycle the valuable material for use in concrete products.
"This is the latest step forward in safely closing coal ash basins and represents a significant investment in the Goldsboro community, which benefits customers and the local economy," said Millie Chalk, government and community relations manager for Wayne County.
Coal ash is a non-hazardous material created when coal is burned to produce electricity. Recycling is the only way to avoid permanent disposal of the material. However, much of the ash stored in basins has too much carbon to be used in concrete products. Duke Energy is making additional investments in technology designed to reprocess coal ash from basins to be used in various concrete products.
This is a change from previously announced plans for the site. In 2015, the company announced plans to excavate and relocate coal ash from the site to a fully lined structural fill in Lee County. The Colon Mine project remains a contingency site if final closure plans for basins across the state require it.
After evaluating a variety of locations, our experts have determined that H.F. Lee is an ideal site for a project of this nature based on a number of factors including, proximity to market demand, the volume of ash at the site, ash quality and the site's current closure deadline.
"The ash currently stored at H.F. Lee is what's left after providing safe and reliable energy to our customers for more than 60 years. This recycling project represents an exciting opportunity to repurpose this material into a valuable product," Chalk said.
The majority of the 6 million tons of ash on the property will be safely reprocessed for use in concrete products by the current 2028 closure deadline. Any material left after recycling operations have ended will be relocated to a safe, permanent storage solution off-site. The company does not intend to construct a landfill onsite to store remaining material.
In 2015, Duke Energy recycled nearly two-thirds of the ash produced across its states. North Carolina's coal ash law encourages even more recycling and requires the company to identify three sites across the state for recycling projects, making 900,000 or more tons of material available each year.
Today's announcement is ahead of the Jan. 1, 2017, state deadline for announcing locations for two coal ash recycling projects. In October, the company announced plans to excavate and reprocess coal ash from the Buck Steam Station in Salisbury, N.C. Next, the company will work with the North Carolina Department of Environmental Quality to acquire necessary permits and begin processing material once construction is complete.
Benefits of coal ash recycling
A recent evaluation conducted by the Electric Power Research Institute (EPRI) confirmed recycling ash for concrete as one of the most practical and proven uses of the material. The study examined well-established uses for ash, commercial beneficiation technologies and innovative technologies.
More than half of the concrete produced in the United States contains coal ash because it makes roads, bridges and buildings stronger and more durable. Some of the world's most iconic and sustainable structures were built using coal ash, including One World Trade Center in New York City. For every ton of coal ash used as a replacement for Portland cement in concrete, approximately 1 ton of greenhouse gas emissions are avoided. More information about Duke Energy's coal ash recycling efforts and the EPRI study is available at duke-energy.com/ash-management.
Safely closing ash basins
Duke Energy is making significant progress in safely closing all of its ash basins in ways that protect people, the environment and families' wallets. The company has safely excavated about 5 million tons of ash in the Carolinas this year and recommends capping other basins, an approach most utilities across the nation will use.
B-roll footage of H.F. Lee's ash basins is available at: https://www.youtube.com/watch?v=o-tGsUwpe_4&spfreload=10
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
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SOURCE Duke Energy
Article Date
12/13/2016Tree planting, conservation and a raptor adventure center among environmental programs to benefit from Duke Energy grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
RALEIGH, N.C., Dec. 8, 2016 /PRNewswire/ -- The Duke Energy Foundation is investing more than $1.5 million in 16 North Carolina environmental nonprofit organizations.
The grants will fund environmental projects, wildlife conservation efforts and environmental educational programs across the state, including $400,000 for the Carolina Raptor Center to build an amphitheater and support the construction of a new raptor trail.
"North Carolina is our home and taking care of it is important to us," said David Fountain, Duke Energy's North Carolina president. "We are proud to invest in programs and initiatives that give people a chance to enjoy our state's wonderful natural environment and encourage conservation."
One of the grants, totaling $80,000, will help support Keep Durham Beautiful, which plans to plant urban trees and provide educational programming and outreach related to environmental conservation.
"Our goal is to reduce our carbon footprint and promote environmental beautification while bringing the community together," said Tania Dautlick, executive director, Keep Durham Beautiful. "Duke Energy's significant support will enable us to plant 100 urban trees and provide outreach and awareness programs to 1,500 residents."
Annually, the Duke Energy Foundation funds $20 million in charitable grants in North Carolina. These grants are distributed across each of its priority areas, including environment, community impact, K-12 education and workforce development.
Environmental grant recipients
These organizations received grants to improve the environment in their local communities:
Asheville GreenWorks – $50,000 for the Forever Green: The GreenWorks Urban Forest Stewardship Program supports planting trees along streets and in community orchards.
Bee City USA – $15,000 for an orientation program for North Carolina's Bee City USA affiliates. The program will help educate Carolinians about bee pollination and conservation.
Catawba County Historical Association – $50,000 for the Lyle Creek Stream Bank Restoration and Demonstration Site at Bunker Hill Covered Bridge. This program supports the assessment, engineering plans and repair work for the ongoing erosion along the banks of Lyle Creek.
Carolina Raptor Center – $400,000 to help build a new raptor trail featuring interactive exhibits and web-enabled learning pavilions and a technologically advanced amphitheater to enhance programming, including STEM education for children. Another $30,000 will go to the Bald Eagle and Environmental Conservation Program to support conservation efforts for bald eagles and educational programs.
Conservation Trust for North Carolina – $70,000 for the North Carolina Youth Conservation Corps that will expand the number of summer crews, organize a Professional Development Day and incorporate more partners.
Keep Durham Beautiful – $80,000 for the East Durham Urban Canopy Renewal project to plant trees and provide educational programming and outreach related to environmental conservation.
National Wild Turkey Federation – $500,000 to support the Energy for Wildlife program, which will conserve and enhance more than 6,000 acres of critical habitat benefiting pollinators, birds and other wildlife species.
North Carolina Arboretum Society – $25,000 to support Project OWL (Outdoor Wonders and Learning), which provides professional development workshops to teachers, outdoor study areas to schools and a curriculum guide for students.
North Carolina Coastal Land Trust – $68,000 for the Connecting Children to Nature: Flytraps and Pollinators program. The program will create a pollinator meadow in Onslow County and a curriculum and accompanying resources for students who visit the Stanley Rehder Carnivorous Plant Garden in Wilmington.
North Carolina Foundation for Soil and Water Conservation – $50,000 for the Spreading the Conservation Message program, which will be used for effective hands-on educational resources.
North Carolina Urban Forest Council – $15,000 for the Legacy Tree Fund Program, which provides grants to qualifying projects within North Carolina communities to plant trees in public spaces.
TreesCharlotte – $25,000 for the Community Tree Planting Event and Educational Programs. This program will support purchasing trees to be planted during the community event and providing materials for educational programs.
Triangle Land Conservancy – $40,000 for the Get Wild! 2.0 program, which will further volunteer engagement efforts in underserved communities.
Sylvan Heights Waterfowl Park and Eco-Center – $17,500 to support Sylvan Heights' STEM education programs. Sylvan Heights is an educational destination for more than 47,000 visitors from across the state every year.
University of North Carolina at Chapel Hill – $179,932 to support the UNC Institute for the Environment: Sustainable Solutions for Water, Energy and Economic Development program.
YMCA of Greater Charlotte – $10,000 to support the Environment Education program at YMCA Camp Thunderbird. This program provides financial assistance to low-income schools that would otherwise not be able to send their students.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
Office: 919.546.2109 24-Hour: 800.559.3853
Twitter: @DE_MeredithA
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SOURCE Duke Energy
Article Date
12/8/2016Duke Energy Renewables acquires Colorado Solar Project
Source: PR Newswire
CHARLOTTE, N.C., Dec. 8, 2016 /PRNewswire/ -- Duke Energy Renewables today announced the acquisition of the 13-megawatt Victory Solar Power Project in Adams County, Colo., from developer juwi Inc.
"Victory is our first solar project in Colorado, where we already have an operating wind energy site," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "It's the 50th solar project in our growing U.S. renewables footprint, and juwi's high-quality site marks another milestone in expanding our solar presence in the western part of the country."
Sedalia-based Intermountain Rural Electric Association (IREA) is purchasing the electricity generated by the project under a 25-year agreement. The solar site began operating this week and can power about 2,600 average homes.
"IREA has been tremendous to work with throughout all stages of this project and should be praised for its leadership in bringing clean, safe and reliable energy to its customers," said Michael Martin, CEO, juwi Inc. "We are particularly excited to have played a role in delivering a major industry player like Duke Energy its first utility-scale solar project in our home state of Colorado."
"IREA is pleased to have worked with juwi to bring this facility into production ahead of schedule," said IREA Chief Executive Officer Patrick Mooney. "We look forward to Duke Energy providing clean renewable energy to IREA's customers for years to come."
The Victory site was built by juwi's construction affiliate, JSI Construction Group LLC, and JSI O&M Group LLC will be performing operations and maintenance services. The project consists of 47,880 ground-mounted panels.
In its commercial business and regulated utilities, Duke Energy owns and operates about 2,900 MW of wind and solar energy – enough to power 800,000 average homes at peak production. The company has invested more than $4 billion in renewable energy.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 20 wind projects and 50 solar facilities in operation in more than a dozen states, totaling about 2,800 megawatts in electric-generating capacity.
Follow Duke Energy (NYSE: DUK) on Twitter, LinkedIn, Instagram and Facebook.
About juwi Inc
juwi Inc. (juwi) is a privately-held renewable energy company based in Boulder, Colorado. juwi's primary business is the development, design, construction, operation and maintenance of utility-scale (1 MW and larger) solar energy generation facilities in North America. To date, juwi has developed and built large-scale solar projects in 14 states in the United States, totaling more than 300 MWs of operating capacity. It has also developed numerous operating large-scale wind energy projects in North America.
About Intermountain Rural Electric Association
Intermountain Rural Electric Association is a nonprofit electric distribution cooperative that serves more than 150,000 customers inside a 5,000-square-mile service territory along Colorado's Front Range. Its headquarters is in Sedalia, and district offices are in Conifer, Strasburg and Woodland Park. For more information, contact Josh Liss at 720.733.5543.
Contact: Duke Energy, Tammie McGee
800.559.3853
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SOURCE Duke Energy
Article Date
12/8/2016Duke Energy works to offer permanent water solutions to eligible plant neighbors
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 7, 2016 /PRNewswire/ -- Duke Energy today announced community-specific recommendations to offer new, permanent drinking water supplies and financial supplements to neighbors near its coal ash basins in North Carolina.
Under House Bill 630, which recently updated North Carolina's Coal Ash Management Act, permanent water supply plans are to be filed with NCDEQ by Dec. 15 and installed for eligible residents within a half-mile of coal ash basins by October 2018.
Key provisions of the plans include:
The company's recommendations were developed with the help of Dewberry, a respected outside consultant that worked closely with local municipalities and the public water systems in those areas.
These initial plans generally include offering public water connections or water filter systems with long-term maintenance to residents near:
Filter systems, which are equally protective of water quality, may be the best option for residents who live in more remote areas farther from existing water lines, making it technically difficult and/or cost prohibitive to extend public water service and maintain good water quality over greater distances.
Residents near the following plants will be offered water filter systems and long-term maintenance to ensure a high quality water supply:
Residents near Dan River and Riverbend plants are already served by public water supplies. Water plans for Asheville and Sutton plant communities are being finalized and will be submitted to NCDEQ by Dec. 15.
Neighbor input and choice are critical elements of the strategy. Once NCDEQ reviews and approves the recommended plans, the company's community relations team will begin working directly with owners of about 950 eligible households in the state to discuss their specific options and ask for their selections before providing final community plans for state approval.
Check duke-energy.com/WaterPlans for the step-by-step process approved by NCDEQ and initial community water plans as those become available.
Company volunteers to offer financial supplement
In the coming weeks, the company will finalize the details of a financial supplement to provide residents peace of mind by addressing concerns they've expressed about property values, new water bills or disturbance during construction or maintenance. The cost of this program will be borne by shareholders and not included in customer bills.
Safe basin closure
Scientific data continue to show that coal ash basins are not impacting neighbors' wells, including a recent Duke University study that confirms hexavalent chromium is naturally occurring across the region and not originating from ash basins.
House Bill 630 requires the company to offer new, permanent water supplies and finish dam enhancement projects that are now complete. Once water supply installation concludes, the state must give basins a ranking of "low," which preserves the full range of closure options, including safely capping basins in place with long-term monitoring. The company remains committed to completing this work in ways that protect people, the environment and wallets.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
12/7/2016Duke Energy donates $100,000 to firefighters battling Western Carolinas wildfires
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 30, 2016 /PRNewswire/ -- The Duke Energy Foundation today announced a donation of $100,000 toward response efforts to battle the devastating wildfires in western North Carolina and South Carolina.
"Firefighters have been working around the clock for weeks to save lives, protect homes and defend Duke Energy infrastructure from the flames," said Shawn Heath, president, Duke Energy Foundation. "These men and women are on the front lines protecting our communities. We are glad to make this contribution to aid their ongoing efforts."
In North Carolina, Duke Energy is donating $75,000 to the Western North Carolina Firefighters Association to help fire departments replace equipment and supplies depleted through wildfire response. A review committee will be created to determine the allocation of funds to fire departments in the region.
"On behalf of the Western North Carolina Association of Firefighters, we are honored and humbled by the donation provided to the association by Duke Energy," said Curt Deaton, president, Western North Carolina Firefighters Association. "The firefighters that serve the western part of our great state have had some long and sleepless days and nights due to the wildfires that have affected several counties in our district. Working side by side with emergency management and Duke Energy, our association is committed to assisting our membership with this donation."
In South Carolina, the company is donating $25,000 to the South Carolina State Firefighters' Foundation – a nonprofit organization under the umbrella of the South Carolina State Firefighters' Association – to help those fire agencies that have been responding to fires in South Carolina. They will also establish a committee to determine allocation of funds to help fire agencies replace equipment and supplies.
"The Duke Energy team reached out early to the agencies involved in fighting the fire on Pinnacle Mountain to ask, 'What can we do?'" said Phil Leventis, director of development of the South Carolina State Firefighters Foundation. "This kind of support from our community partners is always instrumental in helping the men and women dedicated to protecting our communities do their critically important jobs."
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
11/30/2016Duke Energy Progress rates drop for North Carolina customers on Dec. 1
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 29, 2016 /PRNewswire/ -- Duke Energy Progress customers in North Carolina don't have to look far for a deal this holiday season. On average, customers can power their homes and lives for less than $3.50 a day.
Effective Dec. 1, 2016, the charge for a typical residential customer using 1,000 kilowatt-hours (kWh) of electricity will decrease from $110.04 to $103.23 per month, a savings of $6.81.
Overall energy costs will decrease about 6.5 percent for residential customers, 7.2 percent for commercial customers and 7 percent for industrial customers.
"We work around the clock to bring our customers reliable electricity at affordable rates," said David Fountain, Duke Energy president - North Carolina. "Through our generation operations and fuel procurement practices, we have delivered more than $722 million in fuel and joint dispatch merger savings to our customers since 2012."
What's driving customer savings
Duke Energy maintains lower fuel and fuel-related rates through expertise in operating a diverse generation portfolio of nuclear, coal, natural gas and hydro; efficiency improvements that led to higher capacity factors in the nuclear fleet; and fuel procurement strategies that mitigate volatility in supply costs.
Other key reasons for the overall decrease include:
Duke Energy Progress makes a fuel cost recovery filing annually in North Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection.
The NCUC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.
The lower rates reflect annual adjustments to charges for fuel, compliance with the state's renewable energy portfolio standard (REPS) and the Joint Agency Asset Rider (JAAR) as approved by the North Carolina Utilities Commission (NCUC).
Saving energy and reducing demand
Additionally, Duke Energy Progress rates will adjust on Jan. 1, 2017, due to charges related to implementing programs to help reduce energy consumption and save customers money on their energy bills.
Residential customers using 1,000 kWh of electricity per month will see an increase of $1.47 per month on their bills beginning in January, which also accounts for a pending lower state income tax.
Energy efficiency and demand side management charges are increasing primarily due to new program offerings, increased customer participation and related costs, and a reduction in the recovery period for non-residential program costs from 10 to three years.
The net effect of all adjustments is a monthly saving of $5.34 for the typical residential customer. In the new year, overall customer rates will decrease about 5.1 percent for residential customers, 6.7 percent for commercial customers and 6.8 percent for industrial customers.
Duke Energy Progress
Duke Energy Progress owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides about 12,900 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
Office: 919.546.2109 | 24-Hour: 800.559.3853
Twitter: @DE_MeredithA
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SOURCE Duke Energy
Article Date
11/29/2016Duke Energy Beckjord, LLC announces settlement related to 2014 Ohio oil spill
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 22, 2016 /PRNewswire/ -- The company today issued the following statement related to an agreement between the U.S. Attorney's Office for the Southern District of Ohio and Duke Energy Beckjord, LLC regarding a 9,000-gallon diesel fuel oil spill into the Ohio River in August 2014.
Terms of the agreement include one misdemeanor violation of the Clean Water Act, a fine of $1 million and a $100,000 contribution to the Foundation for Ohio River Education (FORE). In addition, the company has already reimbursed government and private entities approximately $950,000 for costs incurred in connection with the spill.
A worker performing a routine fuel transfer from one tank to another failed to stop the process at the appropriate time, spilling fuel into a secondary containment structure. The valve in that overflow structure was left open, allowing the fuel to reach the river.
----
This agreement allows our company to put this incident behind us and move forward.
We immediately apologized for the oil spill at our Beckjord facility in Ohio, took responsibility for the accident and responded quickly in coordination with dozens of state and federal agencies to ensure that people and the environment remained safe and well protected.
We have used the accident as an opportunity to learn and improve. For example, over the past two years, we have worked hard to further strengthen our processes, training and emergency plans at our facilities.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
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SOURCE Duke Energy
Article Date
11/22/201611/21/2016 - Don't let high energy bills be your holiday Grinch
Don't let high energy bills be your holiday Grinch
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 21, 2016 /PRNewswire/ -- Before you go to fa-la-la decking those halls this season, take advantage of Duke Energy's holiday lighting calculator to determine the most efficient way to display your holiday spirit.
Users can identify the type of lights, the number of 100-bulb strands and how many hours the lights will be used per day to estimate the energy cost per day and per month. Based on their selections, customers can receive energy-efficient tips and options.
For example, six 100-bulb sets of large, incandescent bulbs (600 bulbs total) plugged in six hours every evening can add as much as $80 to a monthly power bill.
By comparison, six 100-bulb sets of similarly styled light-emitting diode (LED) bulbs would increase a monthly power bill by only about $7. Using six 100-bulb sets of mini-LED bulbs would increase a monthly power bill by only $1.
Watts cooking?
Turkey, stuffing and pie are just some of the staples of a holiday feast. And, a lot of your energy goes in to mixing, roasting and baking your favorite dishes. Use our cooking calculator to see the total cost of preparing everything from appetizers to desserts.
Money-saving tips to combat the cold
As the holiday season heats up, temperatures will cool down. Help save on your winter energy bills with the following tips:
A safe and happy holiday season
Having a happy holiday means having a safe holiday. Before you transform your home into a festival of lights, follow these tips to stay safe and happy this holiday season:
For more tips and information on how to save energy and money visit www.duke-energy.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/21/201611/14/2016 - Duke Energy proposes solar and battery storage project to power facility in Great Smoky Mountains National Park
Duke Energy proposes solar and battery storage project to power facility in Great Smoky Mountains National Park
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 14, 2016 /PRNewswire/ -- Duke Energy has proposed installing a microgrid, powered by renewable energy, to serve a remote communications tower in Great Smoky Mountains National Park.
Located atop Mt. Sterling in Haywood County, the proposed project would combine a 10-kilowatt solar installation with a Fluidic 95-kilowatt-hour zinc-air battery at the site and ultimately provide all the energy needs for the tower. The tower is currently served by a single overhead electric line.
Because the tower provides emergency communications for the park, the ability to operate independently from the energy grid is important to park communications.
Details on the proposed project were recently filed with the North Carolina Utilities Commission (NCUC).
"This project would allow us to take advantage of renewable energy resources to serve a customer's distinct need in a less expensive and more reliable way," said Robert Sipes, Duke Energy's Western North Carolina regional general manager.
If the project is completed as proposed, Duke Energy would disconnect the facility from the energy grid and would no longer need to maintain the existing overhead electric line. About 13 acres of park land currently maintained as a utility corridor could be allowed to return to a natural state.
Duke Energy has conducted a number of innovative microgrid research projects, but this would be the company's first outside the research realm. A microgrid is a collection of generation sources that operate separately from the energy grid – giving customers greater security and reliability.
As a participant in the Climate Friendly Parks program, Great Smoky Mountains National Park belongs to a network of parks nationwide that are putting climate-friendly behavior at the forefront of sustainability planning.
"Although the National Park Service (NPS) will not make a decision about issuing a Right-of-Way Agreement or authorizing construction of the solar-powered system until National Environmental Policy Act (NEPA) and National Historic Preservation Act (NHPA) compliance are complete, the park is pleased to be considered for this project, which could support the sustainability initiative," said Park Superintendent Cassius Cash.
The project is subject to NCUC and NPS approval. If approved, construction could begin in early 2017, with the goal to be operational by the middle of the year.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
11/14/2016Safe Basin Closure Update: Duke Energy posts coal ash basin closure plans
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 11, 2016 /PRNewswire/ -- Duke Energy today posted proposed closure plans for 36 ash basins that are regulated by the federal Coal Combustion Residuals (CCR) rule.
Power companies across the nation are required to disclose plans for how they will comply with the new federal regulation for hundreds of coal ash basins.
Duke Energy has already committed to safely close all of its 60 coal ash basins in ways that protect people, the environment and customers' wallets.
When combined with past announcements, the company now plans to excavate 34 basins and safely cap another 18 basins across its fleet. The company will make closure decisions about remaining basins in the future.
Learn more about the plans for our facilities here. Closure plans and compliance reports are posted to the company's CCR web page.
Safe Basin Closure Options
Coal ash is a non-hazardous material created when coal is used to produce electricity. At one time, approximately half of the nation was powered by coal generation. The U.S. Environmental Protection Agency (EPA) recognizes that excavation or capping basins, combined with long-term monitoring, can be equally protective of the environment. The EPA also acknowledges that the vast majority of ash in the nation will be safely stored by capping basins in place. Consistent with the industry, Duke Energy plans to safely dispose almost 70 percent of its ash by capping in place.
Closure plans must meet strict federal regulations and comply with specific state laws or requirements. Those detailed plans will be submitted to state regulators for review and approval.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/11/201611/10/2016 - Duke Energy joins U.S. and Canadian utilities to protect customers from utility scammers
Duke Energy joins U.S. and Canadian utilities to protect customers from utility scammers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 10, 2016 /PRNewswire/ -- Gas and electric utility companies across the country and Canada are joining forces to protect customers from the long-running scam targeting customers of utility service providers.
The utility collaboration, Utilities United Against Scams, is planning a week-long campaign focused on identifying the tricks scammers use to steal money from customers, and how customers can protect themselves.
"We want to equip utility customers with information to identify scam warning signs to protect their money from these imposters," said Jared Lawrence, Duke Energy vice president of Revenue Services, who has been leading the national utility scam alert effort. "The holidays are approaching and historically we've seen scam efforts increase during this timeframe. We want to remind customers to always stay alert and not let their guard down."
Content will be shared through social and traditional media, customer and public communication channels.
The collaborative encourages the public to share these messages and use the hashtag #StopScams to help guard against scam activity.
Phone scam history
Under this scam, a customer receives an unsolicited phone call from an individual who falsely claims to be a Duke Energy representative. The scammer warns that Duke Energy will disconnect the customer's electric service if the customer fails to make a payment – usually within a short timeframe.
Scammers have even duplicated the Duke Energy upfront Interactive Voice Response system, so when customers call back phone numbers provided by the scammer, it sounds like a legitimate Duke Energy phone number. Some of these criminals also use caller ID spoofing to replicate Duke Energy's customer service number.
Red flags for scam activity
How to protect yourself
Customers who suspect or experience fraud, or feel threatened during contact with one of these thieves, should contact local authorities, and then the Duke Energy phone number listed on their bill.
Enhancing ongoing efforts to educate the public
The company continues to enhance its efforts to educate the public. As part of the Utilities United Against Scams collaboration, communications are planned through the week of Nov. 14 through the website, upfront messaging at customer call centers, customer email, video, media and social media content.
Previous communications aimed to combat scammers and protect customers include bill messages and alerts, customer letters, online content, public service announcements, advertising, outbound calls and messaging on customer service telecommunication channels.
More than 90 percent of customers who received a call recently and reported it to Duke Energy said they did not fall for the scam. In the initial stages of the scam activity, it is estimated that at least 50 percent of customers contacted were tricked.
The company continues to work with law enforcement, other utilities, the media and has partnered with local attorneys general and Better Business Bureaus to denounce the scams.
Duke Energy also continues to interview victims to detect any signs or clues that could break cases.
For more information visit www.duke-energy.com/StopScams or follow Duke Energy on Twitter, Facebook and LinkedIn to learn more.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/10/201611/9/2016 - Sutton Plant implosion showcases Duke Energy transition to cleaner energy in the Carolinas
Sutton Plant implosion showcases Duke Energy transition to cleaner energy in the Carolinas
Source: PR Newswire
WILMINGTON, N.C., Nov. 9, 2016 /PRNewswire/ -- The Sutton Steam Plant in Wilmington ended its service with a bang, another significant milestone in Duke Energy's campaign to replace older, less-efficient plants with cleaner energy for its customers.
An early-morning implosion on Wednesday brought down the last of three boilers at the plant. The equipment was used to burn coal to make steam, which in turn powered turbines to generate energy for customers across the Carolinas.
The implosion removes the last Duke Energy coal plant in Eastern N.C., and brings to seven the number of coal plants that have been demolished in the Carolinas in the last five years.
View a video of the boiler implosion here: youtu.be/miSapiaJTpM
Duke Energy has demolished coal plants at the following sites:
Duke Energy is also in the early stages of demolition at the Buck Steam Station in Salisbury, N.C., and the Riverbend Steam Station in Mount Holly, N.C., and continuing demolition of portions of the W.S. Lee Plant in Belton, S.C.. At many locations, retired coal plants have been replaced by new, highly efficient natural gas plants.
Only seven of 16 coal plants remain in operation in the Carolinas.
To learn more about the company's coal plant decommissioning program, visit duke-energy.com/coal-decommissioning.
View a video compilation of Duke Energy's progress imploding power plants across the state here: youtube.com/watch?v=fX8zi1HtxQg&feature=youtu.be
About Sutton Plant
Sutton Plant began commercial service in 1954 and the coal units were retired in 2013 after a new natural gas-fired plant came into service at the site. The new natural gas units generate electricity more efficiently for customers and with lower emissions than the coal plant did during its operation.
As part of demolition work at Sutton Plant, crews removed the plant's two iconic red-and-white striped smokestacks in March 2016, using a ring-line platform that allowed the stacks to be removed from the top down.
View a timelapse video of the smokestack removal here: youtu.be/Nzm88b5zIQ0
View a historical feature story about this plant here: illumination.duke-energy.com/articles/l-v-sutton-plant:-the-generation-has-changed-but-not-the-dedication.
Sutton Plant ash basin closure continues
Duke Energy continues to safely excavate and close ash basins at the Sutton Plant. Crews have safely excavated 1 million tons of coal ash from Sutton Plant basins since excavation operations began one year ago. Ash is being transported by rail to a fully lined structural fill at the Brickhaven Mine in Chatham County, N.C.
Approximately 2 million tons of the 7 million tons of ash at Sutton Plant will be taken to the Brickhaven Mine structural fill, with remaining ash to be stored in a fully lined landfill on Sutton Plant property. Construction of the landfill is beginning now that necessary permits and approvals have been received from the state.
Closing ash basins at the site is part of the overall effort to retire coal ash operations at the Sutton Plant in ways that protect the public, the environment and costs customers pay.
For additional information about ash basin closure at the Sutton Plant, please visit duke-energy.com/sutton.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jeff Brooks | 919.219.9215
24-Hour: 800.559.3853
Twitter: @DE_JeffB @DukeEnergy
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SOURCE Duke Energy
Article Date
11/9/2016Duke Energy electrifies the North Carolina arts community through $566,000 in grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 9, 2016 /PRNewswire/ -- Ten cultural and arts nonprofit organizations in North Carolina are receiving more than $566,000 in grants from the Duke Energy Foundation to support arts appreciation and educational programs that foster community vitality.
"Arts and cultural programs unite the diverse communities we serve," said David Fountain, Duke Energy North Carolina president. "We are proud to invest in programs expanding access to and fostering appreciation of arts and culture in our state."
The grants, from the Duke Energy Foundation, will help enhance arts, music, cultural and professional development programs, allowing the organizations to continue strengthening and expanding their work within our communities.
"Duke Energy is a true 'triple threat' arts partner through its support for our main stage and educational programming, engaged and proactive volunteers and professional development opportunities for our team," said Lisa Barrie, president and CEO, NC Theatre. "The board and staff of North Carolina Theatre are deeply grateful for the support of Duke Energy, and Raleigh is a stronger community because of its engagement."
The following organizations are receiving grants to strengthen arts and cultural initiatives in North Carolina.
Carolina Ballet – $175,000 for the 2016-17 season and Arts Access Initiative, which allows the ballet company to offer affordable performances and continue providing complimentary and discounted tickets to people who wouldn't otherwise be able to attend performances.
Durham Arts Council – $15,000 for the Creating Community through the Arts initiative, which supports classes, artist residencies and exhibits. The program serves more than 900,000 participants, provides more than 1,000 jobs and has a collective economic impact exceeding $125 million annually.
Jazz Arts Initiative – $10,000 for the Jazz in Schools program, which provides interactive educational assembly programs to Title I Schools with economically disadvantaged K-12 students.
Blumenthal Performing Arts Center – $26,150 for the Duke Energy Ticket Scholarship Fund, which provides 390 tickets to underserved youth and families in partnership with area nonprofit organizations.
North Carolina Opera – $60,000 to support the upcoming season and the Opera In Schools programs, including Opera 101 and Poetry in Song.
North Carolina Symphony – $175,000 for the Statewide Music Education Sustainer, which provides music education to 60,000 school children annually in 31 counties, many of which are rural and under-resourced areas with limited access to the arts.
North Carolina Theatre – $40,000 for Program Excellence and Project Support, which impacts 5,000 young people throughout Wake County with a combination of training, performances and education/outreach activities, including Theatre4Change, a classroom-based peer-to-peer conflict resolution workshop series for underprivileged youth.
PineCone, The Piedmont Council of Traditional Music – $15,000 to support programs for the 2016-17 year. PineCone programs include concerts, festivals, youth music camps and more. More than 90 percent of the programs are offered to the public at no cost.
United Arts Council of Raleigh and Wake County – $25,000 for the Artists in Schools Program and Development Capacity Growth for Wake Nonprofit Arts Groups. This project helps maintain and increase cultural access for more than 6,000 Wake K-5 students from low-income households. In addition, this project provides first-year participation fees for 10 Wake County arts organizations in a cloud-based software service.
Winston-Salem Arts Council – $25,000 for the Duke Energy Regional Artist Project, which awards seed capital grants to local creative entrepreneurs in addition to connecting startups with a wealth of membership and publicity assets.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit http://www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at http://duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
Twitter: @DE_MeredithA
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SOURCE Duke Energy
Article Date
11/9/201611/4/2016 - Duke Energy awards nearly $240,000 to kick-start 10 urban redevelopment projects in Ohio and Kentucky
Duke Energy awards nearly $240,000 to kick-start 10 urban redevelopment projects in Ohio and Kentucky
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Nov. 4, 2016 /PRNewswire/ -- Ten projects across nine Greater Cincinnati urban hubs received a combined $239,500 in catalyst grants through Duke Energy's Urban Revitalization Initiative. The program aims to support urban redevelopment projects and stimulate growth in our local communities.
This year's grants were awarded earlier today during a program at Westwood Town Hall that featured each grant recipient, as well as Cincinnati Mayor John Cranley, Middletown (Ohio) Mayor Larry Mulligan Jr., and Covington (Kentucky) Mayor Sherry Carran.
"We're investing in our urban cores and partnering with other forward-looking groups to transform old, dilapidated properties into valuable community assets," said Jim Henning, president of Duke Energy Ohio and Kentucky. "The results speak for themselves. Our past grant recipients are now catalysts in their neighborhoods, attracting new businesses and jobs, and improving the vitality of these communities."
Since the Urban Revitalization program debuted in 2011, the Duke Energy Foundation has awarded nearly $1.6 million in grants to 48 local initiatives. Click here to view a short video featuring some recent Urban Revitalization grant recipients – and the impact their projects are having on their communities.
Here are briefs on the projects that will receive Duke Energy Urban Revitalization grants in 2016:
OHIO
Something's brewing in Westwood! The heart of the neighborhood's business district – right across from Westwood Town Hall and Town Hall Park – is gearing up to welcome West Side Brewery. With the help of a $45,000 grant from Duke Energy, this highly anticipated project meets an unmet need in the neighborhood, will create the equivalent of nine full-time positions, attract visitors, and spur additional revitalization and redevelopment along a major thoroughfare.
One of Middletown's most recognizable buildings is undergoing a makeover, and Duke Energy is helping the project move along through a $20,000 Urban Revitalization grant. The 38,000-square-foot structure, which was originally built in 1955 as a JCPenney, will eventually transform into Torchlight Pass – a local destination for dining, retail, family entertainment and more. The project's first phase will create 5-6 full-time positions, and up to 25 part-time jobs.
The Hamilton County Business Center is once again a recipient of a Duke Energy Urban Revitalization grant. This is the fourth consecutive year the business center has been recognized. The 2016 grant money will go toward providing one-on-one mentoring and coaching to small businesses, as well as efforts to attract, retain and expand small businesses in Silverton. Since 2013, the program has proved successful among small businesses in Cincinnati's Price Hill, Northside, East Walnut Hills, Pleasant Ridge, North College Hill, Mt. Healthy, Cheviot and Westwood communities.
At the heart of the College Hill business district is a funky, mid-century modern structure commonly referred to as the National City Bank Building. The College Hill Community Urban Redevelopment Corp. will use its grant toward renovating the structure for potential use as a restaurant or high-end retail store. The location is ideal – the building is part of the very walkable business district and directly across the street from 53 apartments currently under construction.
Duke Energy awarded an Urban Revitalization grant toward the renovation of the historic Metz building in Madisonville. Once work is complete, the building will house the neighborhood's police substation – including its four employees – and the community's nonprofit development corporation. Both organizations are in need of new space as a result of additional redevelopment nearby. And they hope to send a signal to potential new businesses: Things are moving along in Madisonville – literally, as progress continues reshaping the Madison Road business corridor.
KENTUCKY
Built in 1941, Bellevue's Marianne Theatre is preparing for its next act. The Catalytic Fund plans to use its grant from Duke Energy to begin redeveloping the vacant property into more than 7,500 square feet of new commercial space and, effectively, create two new businesses: a special events theater and a restaurant that focuses on craft beer and wine. Once complete, developers envision the project will create four full-time and four part-time jobs, and spur nearby redevelopment.
The Center for Great Neighborhoods' Homes for Makers is critical to the revitalization of Covington's MLK Corridor – taking some of the most blighted but commercially-viable buildings in the area, and turning them into neighborhood-serving assets. This project, which focuses on three properties on W. 12th St., aims to restore the buildings to sell to small business owners who want to live and work at the properties, contribute to a stronger community and create jobs.
At the corner of Monmouth and E. Tenth streets in Newport stands a historic building that, like many others, needs some TLC. The Catalytic Fund plans to use the Duke Energy grant money to begin rehabilitating the property's exterior to create an attractive and historically accurate facade at a critical Newport intersection. The building, which has housed everything from a drug store to a laundromat, is completely vacant, and large enough to be home to potential businesses like a retail store or an office-based operation with up to 20 employees. The Catalytic Fund is hopeful that once this building is brought up to speed, neighboring property owners will see the opportunity to invest in and update their own properties.
It's a well-situated corner-lot building that once housed a Frisch's and other restaurants over the course of its history. The property, at 801 Madison Ave. in Covington, has stood mostly vacant since 2009. But that will change as The Catalytic Fund continues to hold advanced conversations with groups looking to move into the high-traffic space.
When the owners of Second Sight Spirits opened shop in Ludlow, in early 2015, they strived to focus on the future. Well, the future is here. The business will use its grant money to begin expanding into the adjacent space on Ludlow's main drag – allowing Second Sight Spirits to expand its offerings to include bourbon, tap into the popular and heavily marketed Kentucky Bourbon Trail, and serve as a gathering space for charity events and other community gatherings. Once the expansion is complete, Second Sight Spirits will hire six new employees, two full-time and four part-time.
About Duke Energy Ohio/Kentucky
Duke Energy Ohio/Kentucky's operations provide electric service to about 840,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 525,000 customers.
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
513.287.4152 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
11/4/2016Duke Energy reports third quarter 2016 financial results
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 4, 2016 /PRNewswire/ --
Duke Energy today announced third quarter 2016 reported diluted EPS, prepared in accordance with Generally Accepted Accounting Principles (GAAP) of $1.70, compared to $1.35 for third quarter 2015. Third quarter 2016 adjusted diluted EPS was $1.68, compared to $1.47 for third quarter 2015.
GAAP reported diluted EPS includes the impact of special items, which are excluded from adjusted diluted EPS. Special items during the third quarter of 2016 include favorable tax adjustments on previously disposed businesses, charges related to costs to achieve mergers and cost savings initiatives, and an impairment of certain wind projects within commercial renewables.
Third quarter adjusted diluted EPS was higher than the prior year driven by warm summer weather throughout Duke Energy's service territories, higher retail volumes and rider revenues, and ongoing cost management efforts.
Based upon strong results through the third quarter, and the early closing of Piedmont Natural Gas, the company is trending toward the high end of its original 2016 adjusted diluted earnings guidance range of $4.50 to $4.70 per share, excluding fourth-quarter costs associated with Hurricane Matthew.
"We delivered strong financial results again this quarter underpinned by solid operational performance and reached pivotal milestones in transitioning our business portfolio," said Lynn Good, Duke Energy chairman, president and CEO. "The recent closing of our Piedmont Natural Gas acquisition, complemented by the announced sale of our international business, advances our portfolio transition and positions us as a premier regulated energy company."
Business segment results
In addition to the quarterly business segment discussion below, a comprehensive table of quarterly and year-to-date earnings per share drivers compared to the prior year is provided on pages 14 and 15.
The discussion below of the third-quarter results includes both GAAP segment income and adjusted segment income, which is a non-GAAP financial measure. The tables on pages 23 through 26 present a detail of special items and a reconciliation of GAAP reported results to adjusted results.
During the first quarter of 2016, Duke Energy began to evaluate interim period segment performance based on financial information that includes the impact of income tax levelization within segment income. This represents a change from the previous measure, where the interim period impacts of income tax levelization were included within Other, and therefore excluded from segment income. As a result, prior period segment results presented in this release have been recast to conform to this change.
Regulated Utilities
On a reported basis, Regulated Utilities recognized third quarter 2016 segment income of $1,200 million, compared to $905 million in the third quarter of 2015. In addition to the drivers outlined below, quarterly results were impacted by a $56 million after-tax impairment charge in the prior year related to the September 2015 Edwardsport settlement. This charge was treated as a special item and therefore excluded from adjusted earnings.
On an adjusted basis, Regulated Utilities recognized third quarter 2016 adjusted segment income of $1,200 million, compared to $965 million in the third quarter 2015, an increase of $0.34 per share.
Higher quarterly results at Regulated Utilities were primarily driven by:
Commercial Portfolio
On a reported basis, Commercial Portfolio recognized a third quarter 2016 segment loss of $21 million, compared to segment income of $8 million in the third quarter of 2015. In addition to the drivers outlined below, quarterly results were impacted by a $45 million after-tax impairment charge in the current year associated with equity method investments in certain wind projects. This charge was treated as a special item and therefore excluded from adjusted earnings.
On an adjusted basis, Commercial Portfolio recognized third quarter 2016 adjusted segment income of $24 million, compared to $7 million in the third quarter 2015, an increase of $0.02 per share.
Higher quarterly results at Commercial Portfolio were primarily driven by additional wind and solar plants placed in service and improved wind resources.
International Energy
International Energy recognized third quarter 2016 reported and adjusted segment income of $64 million, compared to $69 million in the third quarter 2015, a decrease of $0.01 per share.
Other
Other primarily includes corporate interest expense not allocated to the business units, results from Duke Energy's captive insurance company, and other investments.
On a reported basis, Other recognized third quarter 2016 net expense of $189 million, compared to net expense of $45 million in the third quarter of 2015. In addition to the drivers outlined below, quarterly results were impacted by $37 million of higher costs to achieve mergers and $12 million of charges in the current year related to cost savings initiatives, both net of tax. These charges were treated as special items and therefore excluded from adjusted earnings.
On an adjusted basis, Other recognized third quarter 2016 adjusted net expense of $125 million, compared to adjusted net expense of $30 million in the third quarter 2015, a decrease of $0.14 per share. The increased net expense was primarily driven by a higher effective tax rate (-$0.13 per share) due to prior year income tax benefits and an unfavorable audit settlement in the current year.
The consolidated reported effective tax rate for third quarter 2016 was 32.9 percent, compared to 30.9 percent in the third quarter of 2015. The consolidated adjusted effective tax rate for third quarter 2016 was 33.5 percent, compared to 31.6 percent in the third quarter of 2015. Adjusted effective tax rate is a non-GAAP financial measure. The tables on pages 27 and 28 present a reconciliation of GAAP reported effective tax rate to adjusted effective tax rate.
Discontinued Operations
In the third quarter, Duke Energy recognized an income tax benefit of $122 million within Discontinued Operations due to deferred tax liability adjustments related to the Midwest Generation Disposal Group and another previously sold business.
Earnings conference call for analysts
An earnings conference call for analysts is scheduled for 10 a.m. ET today to discuss Duke Energy's financial performance for the quarter and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-741-4253 in the United States or 719-325-4802 outside the United States. The confirmation code is 4938179. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 14, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 4938179. A replay and transcript also will be available by accessing the investors' section of the company's website.
Special Items and Non-GAAP Reconciliation
The following table presents a reconciliation of GAAP reported to adjusted diluted EPS for quarterly results in 2016 and 2015:
|
(In millions, except per-share amounts) |
After-Tax |
3Q 2016 |
3Q 2015 | ||||||
|
Diluted EPS, as reported |
$ |
1.70 |
$ |
1.35 |
|||||
|
Adjustments to reported EPS: |
|||||||||
|
Third Quarter 2016 |
|||||||||
|
Costs to achieve, mergers |
$ |
52 |
0.07 |
||||||
|
Cost saving initiatives |
12 |
0.02 |
|||||||
|
Commercial Renewables impairment |
45 |
0.07 |
|||||||
|
Discontinued operations |
(122) |
(0.18) |
|||||||
|
Third Quarter 2015 |
|||||||||
|
Costs to achieve, Progress merger |
15 |
0.02 |
|||||||
|
Edwardsport Settlement |
56 |
0.08 |
|||||||
|
Ash Basin Settlement |
4 |
0.01 |
|||||||
|
Discontinued operations |
5 |
0.01 |
|||||||
|
Total adjustments |
$ |
(0.02) |
$ |
0.12 |
|||||
|
Diluted EPS, as adjusted |
$ |
1.68 |
$ |
1.47 |
|||||
Non-GAAP financial measures
Management evaluates financial performance in part based on non-GAAP financial measures, adjusted earnings and adjusted diluted EPS. These items represent income from continuing operations net of income (loss) attributable to noncontrolling interests, adjusted for the dollar and per-share impact of special items. Special items represent certain charges and credits, which management believes are not indicative of our ongoing performance, and are discussed below. Management believes the presentation of adjusted earnings and adjusted diluted EPS provides useful information to investors, as it provides them with an additional relevant comparison of Duke Energy's performance across periods. Management uses these non-GAAP financial measures for planning and forecasting and for reporting results to the Board of Directors, employees, stockholders, analysts and investors concerning Duke Energy's financial performance. Adjusted diluted EPS is also used as a basis for employee incentive bonuses. The most directly comparable GAAP measures for adjusted earnings and adjusted diluted EPS are Net Income Attributable to Duke Energy Corporation and Diluted EPS Attributable to Duke Energy Corporation common stockholders.
Special items included in the periods presented include the following:
Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods (such as legal settlements, the impact of regulatory orders, or asset impairments).
Management evaluates segment performance based on segment income and other net expense. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment income includes intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income as a measure of historical and anticipated future segment performance. Adjusted segment income is a non-GAAP financial measure, as it is based upon segment income adjusted for special items, which are discussed above. Management believes the presentation of adjusted segment income provides useful information to investors, as it provides them with an additional relevant comparison of a segment's performance across periods. The most directly comparable GAAP measure for adjusted segment income or adjusted other net expense is segment income and other net expense.
Due to the forward-looking nature of any forecasted adjusted segment income or adjusted Other net expenses and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as the company is unable to forecast all special items for future periods, as discussed above.
Duke Energy's adjusted earnings, adjusted diluted EPS, and adjusted segment income may not be comparable to similarly titled measures of another company because other entities may not calculate the measures in the same manner.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash impoundments, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash impoundment retirement obligations and costs related to significant weather events, and to earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the ability to complete necessary or desirable pipeline expansion or infrastructure projects in our natural gas business; operational interruptions to our gas distribution and transmission activities; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans, including the proposed sale of International Energy, excluding the equity investment in National Methanol Company; and the ability to successfully integrate the natural gas businesses since the acquisition of Piedmont Natural Gas Company, Inc. and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
|
September 2016 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended |
Nine Months Ended | ||||||||||||||
|
(In millions, except per-share amounts and where noted) |
2016 |
2015 |
2016 |
2015 | |||||||||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
1.52 |
$ |
1.36 |
$ |
3.27 |
$ |
3.31 |
|||||||
|
Diluted |
$ |
1.52 |
$ |
1.36 |
$ |
3.26 |
$ |
3.31 |
|||||||
|
Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.18 |
$ |
(0.01) |
$ |
0.18 |
$ |
0.05 |
|||||||
|
Diluted |
$ |
0.18 |
$ |
(0.01) |
$ |
0.18 |
$ |
0.05 |
|||||||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
1.70 |
$ |
1.35 |
$ |
3.45 |
$ |
3.36 |
|||||||
|
Diluted |
$ |
1.70 |
$ |
1.35 |
$ |
3.44 |
$ |
3.36 |
|||||||
|
Weighted average shares outstanding |
|||||||||||||||
|
Basic |
689 |
688 |
689 |
696 |
|||||||||||
|
Diluted |
691 |
688 |
690 |
696 |
|||||||||||
|
SEGMENT INCOME (LOSS) BY BUSINESS SEGMENT |
|||||||||||||||
|
Regulated Utilities(a) |
$ |
1,200 |
$ |
905 |
$ |
2,613 |
$ |
2,311 |
|||||||
|
International Energy(b) |
64 |
69 |
85 |
157 |
|||||||||||
|
Commercial Portfolio(c)(d) |
(21) |
8 |
20 |
(15) |
|||||||||||
|
Total Reportable Segment Income |
1,243 |
982 |
2,718 |
2,453 |
|||||||||||
|
Other Net Expense(e)(f)(g) |
(189) |
(45) |
(463) |
(139) |
|||||||||||
|
Intercompany Eliminations |
— |
— |
— |
(4) |
|||||||||||
|
Income (Loss) from Discontinued Operations, net of tax(h)(i) |
122 |
(5) |
124 |
29 |
|||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
1,176 |
$ |
932 |
$ |
2,379 |
$ |
2,339 |
|||||||
|
CAPITALIZATION |
|||||||||||||||
|
Total Common Equity (%) |
45 % |
48 % |
|||||||||||||
|
Total Debt (%) |
55 % |
52 % |
|||||||||||||
|
Total Debt |
$ |
50,176 |
$ |
42,457 |
|||||||||||
|
Book Value Per Share |
$ |
58.85 |
$ |
57.92 |
|||||||||||
|
Actual Shares Outstanding |
689 |
688 |
|||||||||||||
|
CAPITAL AND INVESTMENT EXPENDITURES |
|||||||||||||||
|
Regulated Utilities(j) |
$ |
1,674 |
$ |
2,539 |
$ |
4,687 |
$ |
5,212 |
|||||||
|
International Energy |
11 |
14 |
26 |
33 |
|||||||||||
|
Commercial Portfolio |
192 |
374 |
614 |
757 |
|||||||||||
|
Other |
44 |
52 |
123 |
166 |
|||||||||||
|
Total Capital and Investment Expenditures |
$ |
1,921 |
$ |
2,979 |
$ |
5,450 |
$ |
6,168 |
|||||||
|
Note: Certain prior period amounts have been reclassified to conform to the current year presentation. | |||||||||||||||
|
(a) Includes a charge of $56 million (net of tax of $34 million) related to the Edwardsport settlement for the three and nine months ended September 30, 2015. | |||||||||||||||
|
(b) Includes an impairment charge of $145 million (net of tax of $49 million) for the nine months ended September 30, 2016, related to certain assets in Central America, as well as a tax benefit of $95 million resulting from the ability to more efficiently utilize foreign tax credits. | |||||||||||||||
|
(c) Includes an impairment charge of $45 million (net of tax of $26 million) for the three and nine months ended September 30, 2016, related to certain equity investments in wind projects. | |||||||||||||||
|
(d) Includes a tax charge of $41 million for the nine months ended September 30, 2015, resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||||||
|
(e) Includes costs to achieve mergers of $52 million for the three months ended September 30, 2016 (net of tax of $32 million), and $195 million for the nine months ended September 30, 2016 (net of tax of $120 million). These costs primarily consist of losses on forward-starting interest rate swaps associated with the Piedmont acquisition financing. | |||||||||||||||
|
(f) Includes costs to achieve Progress merger of $15 million for the three months ended September 30, 2015 (net of tax of $9 million), and $42 million for the nine months ended September 30, 2015 (net of tax of $25 million). | |||||||||||||||
|
(g) Includes a charge of $12 million for the three months ended September 30, 2016 (net of tax of $7 million) and $39 million for the nine months ended September 30, 2016 (net of tax of $24 million), primarily consisting of severance expense related to cost savings initiatives. | |||||||||||||||
|
(h) Includes an income tax benefit of $122 million for the three and nine months ended September 30, 2016, resulting from deferred tax liability adjustments related to the Midwest Generation Disposal Group and another previously sold business. | |||||||||||||||
|
(i) Includes the impact of a litigation reserve related to the nonregulated Midwest generation business of $53 million for the nine months ended September 30, 2015 (net of tax of $28 million). | |||||||||||||||
|
(j) Includes $1.25 billion related to the NCEMPA acquisition for the three and nine months ended September 30, 2015. | |||||||||||||||
|
September 2016 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended |
Nine Months Ended | ||||||||||||||
|
September 30, |
September 30, | ||||||||||||||
|
(In millions, except for GWh and MW amounts) |
2016 |
2015 |
2016 |
2015 | |||||||||||
|
REGULATED UTILITIES |
|||||||||||||||
|
Operating Revenues |
$ |
6,430 |
$ |
6,147 |
$ |
16,788 |
$ |
17,090 |
|||||||
|
Operating Expenses |
4,385 |
4,481 |
12,124 |
12,789 |
|||||||||||
|
Gains on Sales of Other Assets and Other, net |
1 |
1 |
3 |
10 |
|||||||||||
|
Operating Income |
2,046 |
1,667 |
4,667 |
4,311 |
|||||||||||
|
Other Income and Expenses |
75 |
56 |
213 |
187 |
|||||||||||
|
Interest Expense |
293 |
280 |
848 |
829 |
|||||||||||
|
Income Before Income Taxes |
1,828 |
1,443 |
4,032 |
3,669 |
|||||||||||
|
Income Tax Expense |
628 |
538 |
1,419 |
1,358 |
|||||||||||
|
Segment Income |
$ |
1,200 |
$ |
905 |
$ |
2,613 |
$ |
2,311 |
|||||||
|
Depreciation and Amortization |
$ |
749 |
$ |
691 |
$ |
2,198 |
$ |
2,096 |
|||||||
|
INTERNATIONAL ENERGY |
|||||||||||||||
|
Operating Revenues |
$ |
245 |
$ |
281 |
$ |
761 |
$ |
841 |
|||||||
|
Operating Expenses |
177 |
200 |
713 |
639 |
|||||||||||
|
Loss on Sales of Other Assets and Other, net |
(1) |
— |
(2) |
(1) |
|||||||||||
|
Operating Income |
67 |
81 |
46 |
201 |
|||||||||||
|
Other Income and Expenses |
23 |
24 |
62 |
69 |
|||||||||||
|
Interest Expense |
19 |
21 |
63 |
66 |
|||||||||||
|
Income Before Income Taxes |
71 |
84 |
45 |
204 |
|||||||||||
|
Income Tax Expense (Benefit) |
4 |
14 |
(48) |
44 |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
3 |
1 |
8 |
3 |
|||||||||||
|
Segment Income |
$ |
64 |
$ |
69 |
$ |
85 |
$ |
157 |
|||||||
|
Depreciation and Amortization |
$ |
18 |
$ |
23 |
$ |
62 |
$ |
69 |
|||||||
|
Sales, GWh |
5,017 |
4,590 |
16,522 |
13,580 |
|||||||||||
|
Proportional MW Capacity in Operation |
4,315 |
4,333 |
|||||||||||||
|
COMMERCIAL PORTFOLIO |
|||||||||||||||
|
Operating Revenues |
$ |
140 |
$ |
66 |
$ |
366 |
$ |
214 |
|||||||
|
Operating Expenses |
141 |
82 |
373 |
255 |
|||||||||||
|
Gains on Sales of Other Assets and Other, net |
1 |
— |
3 |
6 |
|||||||||||
|
Operating Loss |
— |
(16) |
(4) |
(35) |
|||||||||||
|
Other Income and Expenses |
(69) |
(3) |
(63) |
(3) |
|||||||||||
|
Interest Expense |
15 |
11 |
38 |
33 |
|||||||||||
|
Loss Before Income Taxes |
(84) |
(30) |
(105) |
(71) |
|||||||||||
|
Income Tax Benefit |
(62) |
(37) |
(123) |
(55) |
|||||||||||
|
Less: Loss Attributable to Noncontrolling Interests |
(1) |
(1) |
(2) |
(1) |
|||||||||||
|
Segment (Loss) Income |
$ |
(21) |
$ |
8 |
$ |
20 |
$ |
(15) |
|||||||
|
Depreciation and Amortization |
$ |
33 |
$ |
27 |
$ |
96 |
$ |
77 |
|||||||
|
Actual Renewable Plant Production, GWh |
1,801 |
1,230 |
5,619 |
3,913 |
|||||||||||
|
Net Proportional MW Capacity in Operation |
2,725 |
1,634 |
|||||||||||||
|
OTHER |
|||||||||||||||
|
Operating Revenues |
$ |
32 |
$ |
17 |
$ |
91 |
$ |
78 |
|||||||
|
Operating Expenses |
128 |
64 |
316 |
177 |
|||||||||||
|
Gains on Sales of Other Assets and Other, net |
5 |
3 |
16 |
16 |
|||||||||||
|
Operating Loss |
(91) |
(44) |
(209) |
(83) |
|||||||||||
|
Other Income and Expenses |
12 |
(2) |
30 |
8 |
|||||||||||
|
Interest Expense |
157 |
91 |
553 |
285 |
|||||||||||
|
Loss Before Income Taxes |
(236) |
(137) |
(732) |
(360) |
|||||||||||
|
Income Tax Benefit |
(50) |
(95) |
(276) |
(229) |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
3 |
3 |
7 |
8 |
|||||||||||
|
Other Net Expense |
$ |
(189) |
$ |
(45) |
$ |
(463) |
$ |
(139) |
|||||||
|
Depreciation and Amortization |
$ |
37 |
$ |
33 |
$ |
108 |
$ |
99 |
|||||||
|
Note: Certain prior period amounts have been reclassified to conform to the current year presentation. | |||||||||||||||
|
DUKE ENERGY CORPORATION | |||||||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
(In millions, except per-share amounts) | |||||||||||||||
|
Three Months Ended |
Nine Months Ended | ||||||||||||||
|
2016 |
2015 |
2016 |
2015 | ||||||||||||
|
Operating Revenues |
|||||||||||||||
|
Regulated electric |
$ |
6,303 |
$ |
6,017 |
$ |
16,321 |
$ |
16,564 |
|||||||
|
Nonregulated electric and other |
429 |
377 |
1,251 |
1,157 |
|||||||||||
|
Regulated natural gas |
89 |
89 |
355 |
416 |
|||||||||||
|
Total operating revenues |
6,821 |
6,483 |
17,927 |
18,137 |
|||||||||||
|
Operating Expenses |
|||||||||||||||
|
Fuel used in electric generation and purchased power - regulated |
2,016 |
2,113 |
5,102 |
5,775 |
|||||||||||
|
Fuel used in electric generation and purchased power - nonregulated |
75 |
61 |
215 |
283 |
|||||||||||
|
Cost of natural gas |
17 |
21 |
98 |
158 |
|||||||||||
|
Operation, maintenance and other |
1,547 |
1,426 |
4,467 |
4,274 |
|||||||||||
|
Depreciation and amortization |
837 |
774 |
2,464 |
2,341 |
|||||||||||
|
Property and other taxes |
303 |
293 |
893 |
836 |
|||||||||||
|
Impairment charges |
10 |
111 |
208 |
111 |
|||||||||||
|
Total operating expenses |
4,805 |
4,799 |
13,447 |
13,778 |
|||||||||||
|
Gains on Sales of Other Assets and Other, net |
6 |
4 |
20 |
31 |
|||||||||||
|
Operating Income |
2,022 |
1,688 |
4,500 |
4,390 |
|||||||||||
|
Other Income and Expenses |
|||||||||||||||
|
Equity in earnings (losses) of unconsolidated affiliates |
(60) |
17 |
(37) |
53 |
|||||||||||
|
Other income and expenses, net |
99 |
57 |
270 |
203 |
|||||||||||
|
Total other income and expenses |
39 |
74 |
233 |
256 |
|||||||||||
|
Interest Expense |
482 |
402 |
1,493 |
1,208 |
|||||||||||
|
Income From Continuing Operations Before Income Taxes |
1,579 |
1,360 |
3,240 |
3,438 |
|||||||||||
|
Income Tax Expense from Continuing Operations |
520 |
420 |
972 |
1,118 |
|||||||||||
|
Income From Continuing Operations |
1,059 |
940 |
2,268 |
2,320 |
|||||||||||
|
Income (Loss) From Discontinued Operations, net of tax |
122 |
(5) |
124 |
29 |
|||||||||||
|
Net Income |
1,181 |
935 |
2,392 |
2,349 |
|||||||||||
|
Less: Net Income Attributable to Noncontrolling Interests |
5 |
3 |
13 |
10 |
|||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
1,176 |
$ |
932 |
$ |
2,379 |
$ |
2,339 |
|||||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
1.52 |
$ |
1.36 |
$ |
3.27 |
$ |
3.31 |
|||||||
|
Diluted |
$ |
1.52 |
$ |
1.36 |
$ |
3.26 |
$ |
3.31 |
|||||||
|
Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.18 |
$ |
(0.01) |
$ |
0.18 |
$ |
0.05 |
|||||||
|
Diluted |
$ |
0.18 |
$ |
(0.01) |
$ |
0.18 |
$ |
0.05 |
|||||||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
1.70 |
$ |
1.35 |
$ |
3.45 |
$ |
3.36 |
|||||||
|
Diluted |
$ |
1.70 |
$ |
1.35 |
$ |
3.44 |
$ |
3.36 |
|||||||
|
Weighted average shares outstanding |
|||||||||||||||
|
Basic |
689 |
688 |
689 |
696 |
|||||||||||
|
Diluted |
691 |
688 |
690 |
696 |
|||||||||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
|
(Unaudited) | ||||||||
|
(in millions) |
September 30, 2016 |
December 31, 2015 | ||||||
|
ASSETS |
||||||||
|
Current Assets |
||||||||
|
Cash and cash equivalents |
$ |
6,179 |
$ |
857 |
||||
|
Receivables (net of allowance for doubtful accounts of $25 at 2016 and $18 at 2015) |
583 |
703 |
||||||
|
Receivables of VIEs (net of allowance for doubtful accounts of $54 at 2016 and $53 at 2015) |
2,139 |
1,748 |
||||||
|
Inventory |
3,351 |
3,810 |
||||||
|
Regulatory assets (includes $51 related to VIEs at 2016) |
853 |
877 |
||||||
|
Other |
429 |
327 |
||||||
|
Total current assets |
13,534 |
8,322 |
||||||
|
Investments and Other Assets |
||||||||
|
Investments in equity method unconsolidated affiliates |
604 |
499 |
||||||
|
Nuclear decommissioning trust funds |
6,112 |
5,825 |
||||||
|
Goodwill |
16,354 |
16,343 |
||||||
|
Other |
2,948 |
3,042 |
||||||
|
Total investments and other assets |
26,018 |
25,709 |
||||||
|
Property, Plant and Equipment |
||||||||
|
Cost |
116,376 |
112,826 |
||||||
|
Accumulated depreciation and amortization |
(38,812) |
(37,665) |
||||||
|
Generation facilities to be retired, net |
652 |
548 |
||||||
|
Net property, plant and equipment |
78,216 |
75,709 |
||||||
|
Regulatory Assets and Deferred Debits |
||||||||
|
Regulatory assets (includes $1,156 related to VIEs at 2016) |
11,896 |
11,373 |
||||||
|
Other |
22 |
43 |
||||||
|
Total regulatory assets and deferred debits |
11,918 |
11,416 |
||||||
|
Total Assets |
$ |
129,686 |
$ |
121,156 |
||||
|
LIABILITIES AND EQUITY |
||||||||
|
Current Liabilities |
||||||||
|
Accounts payable |
$ |
2,138 |
$ |
2,400 |
||||
|
Notes payable and commercial paper |
3,011 |
3,633 |
||||||
|
Taxes accrued |
636 |
348 |
||||||
|
Interest accrued |
504 |
430 |
||||||
|
Current maturities of long-term debt (includes $258 at 2016 and $125 at 2015 related to VIEs) |
3,201 |
2,074 |
||||||
|
Asset retirement obligations |
539 |
— |
||||||
|
Regulatory liabilities |
319 |
400 |
||||||
|
Other |
1,728 |
2,115 |
||||||
|
Total current liabilities |
12,076 |
11,400 |
||||||
|
Long-Term Debt (includes $3,641 at 2016 and $2,197 at 2015 related to VIEs) |
43,964 |
37,495 |
||||||
|
Deferred Credits and Other Liabilities |
||||||||
|
Deferred income taxes |
13,201 |
12,705 |
||||||
|
Investment tax credits |
486 |
472 |
||||||
|
Accrued pension and other post-retirement benefit costs |
1,030 |
1,088 |
||||||
|
Asset retirement obligations |
10,291 |
10,264 |
||||||
|
Regulatory liabilities |
6,241 |
6,255 |
||||||
|
Other |
1,851 |
1,706 |
||||||
|
Total deferred credits and other liabilities |
33,100 |
32,490 |
||||||
|
Commitments and Contingencies |
||||||||
|
Equity |
||||||||
|
Common stock, $0.001 par value, 2 billion shares authorized; 689 million and 688 million shares outstanding at 2016 and 2015, respectively |
1 |
1 |
||||||
|
Additional paid-in capital |
37,997 |
37,968 |
||||||
|
Retained earnings |
3,212 |
2,564 |
||||||
|
Accumulated other comprehensive loss |
(721) |
(806) |
||||||
|
Total Duke Energy Corporation stockholders' equity |
40,489 |
39,727 |
||||||
|
Noncontrolling interests |
57 |
44 |
||||||
|
Total equity |
40,546 |
39,771 |
||||||
|
Total Liabilities and Equity |
$ |
129,686 |
$ |
121,156 |
||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
(Unaudited) | ||||||||
|
(In millions) | ||||||||
|
Nine Months Ended September 30, | ||||||||
|
2016 |
2015 | |||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
|
Net Income |
$ |
2,392 |
$ |
2,349 |
||||
|
Adjustments to reconcile net income to net cash provided by operating activities |
3,200 |
3,047 |
||||||
|
Net cash provided by operating activities |
5,592 |
5,396 |
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
|
Net cash used in investing activities |
(5,555) |
(3,291) |
||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
|
Net cash provided by (used in) financing activities |
5,285 |
(2,771) |
||||||
|
Net increase (decrease) in cash and cash equivalents |
5,322 |
(666) |
||||||
|
Cash and cash equivalents at the beginning of period |
857 |
2,036 |
||||||
|
Cash and cash equivalents at end of period |
$ |
6,179 |
$ |
1,370 |
||||
|
DUKE ENERGY CORPORATION EARNINGS VARIANCES September 2016 QTD vs. Prior Year | ||||||||||||||||||||||||
|
($ per share) |
Regulated Utilities |
International Energy |
Commercial Portfolio |
Other |
Discontinued Operations |
Consolidated | ||||||||||||||||||
|
2015 QTD Reported Earnings Per Share, Diluted |
$ |
1.31 |
$ |
0.10 |
$ |
0.01 |
$ |
(0.06) |
$ |
(0.01) |
$ |
1.35 |
||||||||||||
|
Costs to Achieve, Progress Merger |
— |
— |
— |
0.02 |
— |
0.02 |
||||||||||||||||||
|
Edwardsport Settlement |
0.08 |
— |
— |
— |
— |
0.08 |
||||||||||||||||||
|
Ash Basin Settlement |
0.01 |
— |
— |
— |
— |
0.01 |
||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
0.01 |
0.01 |
||||||||||||||||||
|
2015 QTD Adjusted Earnings Per Share, Diluted |
$ |
1.40 |
$ |
0.10 |
$ |
0.01 |
$ |
(0.04) |
$ |
— |
$ |
1.47 |
||||||||||||
|
Weather |
0.14 |
— |
— |
— |
— |
0.14 |
||||||||||||||||||
|
Pricing and Riders (a) |
0.05 |
— |
— |
— |
— |
0.05 |
||||||||||||||||||
|
Volume |
0.04 |
— |
— |
— |
— |
0.04 |
||||||||||||||||||
|
Wholesale (b) |
0.03 |
— |
— |
— |
— |
0.03 |
||||||||||||||||||
|
Operations and Maintenance, net of recoverables |
0.02 |
— |
— |
— |
— |
0.02 |
||||||||||||||||||
|
Latin America, including Foreign Exchange Rates |
— |
— |
— |
— |
— |
— |
||||||||||||||||||
|
National Methanol Company |
— |
(0.01) |
— |
— |
— |
(0.01) |
||||||||||||||||||
|
Duke Energy Renewables (c) |
— |
— |
0.02 |
— |
— |
0.02 |
||||||||||||||||||
|
Commercial Transmission, Pipeline and Other |
— |
— |
— |
— |
— |
— |
||||||||||||||||||
|
Interest Expense |
(0.01) |
— |
— |
(0.01) |
— |
(0.02) |
||||||||||||||||||
|
Change in effective income tax rate |
0.08 |
0.01 |
— |
(0.13) |
— |
(0.04) |
||||||||||||||||||
|
Other |
(0.01) |
(0.01) |
— |
— |
— |
(0.02) |
||||||||||||||||||
|
2016 QTD Adjusted Earnings Per Share, Diluted |
$ |
1.74 |
$ |
0.09 |
$ |
0.03 |
$ |
(0.18) |
$ |
— |
$ |
1.68 |
||||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
(0.07) |
— |
(0.07) |
||||||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
(0.02) |
— |
(0.02) |
||||||||||||||||||
|
Commercial Renewables Impairment |
— |
— |
(0.07) |
— |
— |
(0.07) |
||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
0.18 |
0.18 |
||||||||||||||||||
|
2016 QTD Reported Earnings Per Share, Diluted |
$ |
1.74 |
$ |
0.09 |
$ |
(0.04) |
$ |
(0.27) |
$ |
0.18 |
$ |
1.70 |
||||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all variance drivers except Duke Energy Renewables, which uses an effective tax rate. | ||||||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | ||||||||||||||||||||||||
|
Note 3: Certain prior period amounts have been reclassified to conform to the current year presentation. | ||||||||||||||||||||||||
|
(a) |
Primarily due to the NCEMPA rider (+$0.02) and higher energy efficiency recoveries at Duke Energy Progress (+$0.01). | |||||||||||||||||||||||
|
(b) |
Primarily due to the implementation of new contracts. | |||||||||||||||||||||||
|
(c) |
Primarily due to new wind and solar growth and higher wind production. | |||||||||||||||||||||||
|
DUKE ENERGY CORPORATION EARNINGS VARIANCES September 2016 YTD vs. Prior Year | ||||||||||||||||||||||||
|
($ per share) |
Regulated Utilities |
International Energy |
Commercial Portfolio |
Other |
Discontinued Operations |
Consolidated | ||||||||||||||||||
|
2015 YTD Reported Earnings Per Share, Diluted |
$ |
3.32 |
$ |
0.22 |
$ |
(0.03) |
$ |
(0.19) |
$ |
0.04 |
$ |
3.36 |
||||||||||||
|
Costs to Achieve, Progress Merger |
— |
— |
— |
0.05 |
— |
0.05 |
||||||||||||||||||
|
Edwardsport Settlement |
0.08 |
— |
— |
— |
— |
0.08 |
||||||||||||||||||
|
Midwest Generation Operations |
— |
— |
0.14 |
— |
— |
0.14 |
||||||||||||||||||
|
Ash Basin Settlement |
0.01 |
— |
— |
— |
— |
0.01 |
||||||||||||||||||
|
Discontinued Operations |
— |
— |
0.06 |
— |
(0.04) |
0.02 |
||||||||||||||||||
|
2015 YTD Adjusted Earnings Per Share, Diluted |
$ |
3.41 |
$ |
0.22 |
$ |
0.17 |
$ |
(0.14) |
$ |
— |
$ |
3.66 |
||||||||||||
|
Stock repurchase (a) |
0.03 |
0.01 |
— |
— |
— |
0.04 |
||||||||||||||||||
|
Weather |
0.03 |
— |
— |
— |
— |
0.03 |
||||||||||||||||||
|
Pricing and Riders (b) |
0.16 |
— |
— |
— |
— |
0.16 |
||||||||||||||||||
|
Volume |
0.04 |
— |
— |
— |
— |
0.04 |
||||||||||||||||||
|
Wholesale (c) |
0.07 |
— |
— |
— |
— |
0.07 |
||||||||||||||||||
|
Operations and Maintenance, net of recoverables (d) |
0.06 |
— |
— |
— |
— |
0.06 |
||||||||||||||||||
|
Latin America, including Foreign Exchange Rates (e) |
— |
0.05 |
— |
— |
— |
0.05 |
||||||||||||||||||
|
National Methanol Company |
— |
(0.05) |
— |
— |
— |
(0.05) |
||||||||||||||||||
|
Duke Energy Renewables (f) |
— |
— |
0.03 |
— |
— |
0.03 |
||||||||||||||||||
|
Commercial Transmission, Pipeline and Other |
— |
— |
0.01 |
— |
— |
0.01 |
||||||||||||||||||
|
Midwest Generation (g) |
— |
— |
(0.12) |
— |
— |
(0.12) |
||||||||||||||||||
|
Interest Expense |
(0.01) |
— |
— |
(0.03) |
— |
(0.04) |
||||||||||||||||||
|
Change in effective income tax rate (h) |
0.10 |
0.10 |
— |
(0.14) |
— |
0.06 |
||||||||||||||||||
|
Other (i) |
(0.10) |
— |
— |
(0.02) |
— |
(0.12) |
||||||||||||||||||
|
2016 YTD Adjusted Earnings Per Share, Diluted |
$ |
3.79 |
$ |
0.33 |
$ |
0.09 |
$ |
(0.33) |
$ |
— |
$ |
3.88 |
||||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
(0.28) |
— |
(0.28) |
||||||||||||||||||
|
International Impairment |
— |
(0.21) |
— |
— |
— |
(0.21) |
||||||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
(0.06) |
— |
(0.06) |
||||||||||||||||||
|
Commercial Renewables Impairment |
— |
— |
(0.07) |
— |
— |
(0.07) |
||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
0.18 |
0.18 |
||||||||||||||||||
|
2016 YTD Reported Earnings Per Share, Diluted |
$ |
3.79 |
$ |
0.12 |
$ |
0.02 |
$ |
(0.67) |
$ |
0.18 |
$ |
3.44 |
||||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate for all variance drivers except Duke Energy Renewables, which uses an effective tax rate. | ||||||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | ||||||||||||||||||||||||
|
Note 3: Certain prior period amounts have been reclassified to conform to the current year presentation. | ||||||||||||||||||||||||
|
(a) |
Due to the decrease in common shares outstanding as a result of the Accelerated Stock Repurchase Program. Weighted average diluted shares outstanding decreased from 696 million shares to 690 million shares. | |||||||||||||||||||||||
|
(b) |
Primarily due to the NCEMPA rider (+$0.06), higher energy efficiency recoveries in the Carolinas (+$0.05), and a prior year unfavorable regulatory order in Ohio related to energy efficiency (+$0.02). | |||||||||||||||||||||||
|
(c) |
Primarily due to the implementation of the new 30-year contract with NCEMPA. | |||||||||||||||||||||||
|
(d) |
Primarily due to lower outage costs and cost control efforts, partially offset by increased storm restoration costs and costs related to the NCEMPA asset purchase. | |||||||||||||||||||||||
|
(e) |
Primarily due to higher results in Brazil due to improved hydrology, partially offset by weaker foreign currency exchange rates (-$0.02). | |||||||||||||||||||||||
|
(f) |
Primarily due to new wind and solar growth and higher wind production. | |||||||||||||||||||||||
|
(g) |
Due to the absence of earnings from the nonregulated Midwest generation business, which was sold in April 2015. | |||||||||||||||||||||||
|
(h) |
International Energy includes lower income taxes resulting from the decision to divest the International Energy segment combined with more efficient utilization of foreign tax credits. | |||||||||||||||||||||||
|
(i) |
Regulated Utilities includes increased depreciation and amortization expense (-$0.08) due to higher depreciable base including the NCEMPA asset purchase, and higher non-income taxes (-$0.05) primarily due to increased property taxes. | |||||||||||||||||||||||
|
Regulated Utilities | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
26,103 |
24,176 |
8.0% |
2.3% |
65,450 |
66,195 |
(1.1%) |
1.0% |
||||||||||||||||
|
General Service |
22,768 |
22,047 |
3.3% |
2.1% |
59,291 |
59,124 |
0.3% |
0.2% |
||||||||||||||||
|
Industrial |
13,854 |
14,001 |
(1.0%) |
(1.1%) |
39,147 |
39,370 |
(0.6%) |
(0.4%) |
||||||||||||||||
|
Other Energy Sales |
144 |
149 |
(3.4%) |
435 |
450 |
(3.3%) |
||||||||||||||||||
|
Unbilled Sales |
(703) |
(1,808) |
61.1% |
n/a |
1,078 |
(476) |
326.5% |
n/a |
||||||||||||||||
|
Total Retail Sales |
62,166 |
58,565 |
6.1% |
1.4% |
165,401 |
164,663 |
0.4% |
0.4% |
||||||||||||||||
|
Special Sales |
12,102 |
10,450 |
15.8% |
33,783 |
28,551 |
18.3% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Regulated Utilities |
74,268 |
69,015 |
7.6% |
199,184 |
193,214 |
3.1% |
||||||||||||||||||
|
Average Number of Customers (Electric) |
||||||||||||||||||||||||
|
Residential |
6,455,615 |
6,365,092 |
1.4% |
6,439,699 |
6,351,973 |
1.4% |
||||||||||||||||||
|
General Service |
964,893 |
954,659 |
1.1% |
961,246 |
951,350 |
1.0% |
||||||||||||||||||
|
Industrial |
17,807 |
18,105 |
(1.6%) |
17,868 |
18,150 |
(1.6%) |
||||||||||||||||||
|
Other Energy Sales |
23,138 |
23,113 |
0.1% |
23,117 |
23,024 |
0.4% |
||||||||||||||||||
|
Total Regular Sales |
7,461,453 |
7,360,969 |
1.4% |
7,441,930 |
7,344,497 |
1.3% |
||||||||||||||||||
|
Special Sales |
61 |
64 |
(4.7%) |
61 |
63 |
(3.2%) |
||||||||||||||||||
|
Total Average Number of Customers - Regulated Utilities |
7,461,514 |
7,361,033 |
1.4% |
7,441,991 |
7,344,560 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
24,665 |
23,509 |
4.9% |
58,367 |
62,433 |
(6.5%) |
||||||||||||||||||
|
Nuclear |
19,177 |
18,469 |
3.8% |
55,785 |
52,580 |
6.1% |
||||||||||||||||||
|
Hydro |
131 |
91 |
44.0% |
1,502 |
1,025 |
46.5% |
||||||||||||||||||
|
Oil and Natural Gas |
17,594 |
16,533 |
6.4% |
48,461 |
46,054 |
5.2% |
||||||||||||||||||
|
Renewable Energy |
60 |
3 |
1,900.0% |
158 |
10 |
1,480.0% |
||||||||||||||||||
|
Total Generation (4) |
61,627 |
58,605 |
5.2% |
164,273 |
162,102 |
1.3% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
17,105 |
(2,765) |
718.6% |
45,757 |
24,461 |
87.1% |
||||||||||||||||||
|
Total Sources of Energy |
78,732 |
55,840 |
41.0% |
210,030 |
186,563 |
12.6% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
4,464 |
2,604 |
71.4% |
10,846 |
9,128 |
18.8% |
||||||||||||||||||
|
Total GWh Sources |
74,268 |
53,236 |
39.5% |
199,184 |
177,435 |
12.3% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
49,839 |
50,081 |
||||||||||||||||||||||
|
Winter |
53,028 |
53,346 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
95 |
||||||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Carolinas | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
8,804 |
8,213 |
7.2% |
22,055 |
22,445 |
(1.7%) |
||||||||||||||||||
|
General Service |
8,507 |
8,273 |
2.8% |
22,105 |
22,074 |
0.1% |
||||||||||||||||||
|
Industrial |
5,923 |
6,041 |
(2.0%) |
16,546 |
16,730 |
(1.1%) |
||||||||||||||||||
|
Other Energy Sales |
76 |
76 |
—% |
228 |
229 |
(0.4%) |
||||||||||||||||||
|
Unbilled Sales |
(446) |
(1,047) |
57.4% |
244 |
(693) |
135.2% |
||||||||||||||||||
|
Total Regular Electric Sales |
22,864 |
21,556 |
6.1% |
1.5% |
61,178 |
60,785 |
0.6% |
0.4% |
||||||||||||||||
|
Special Sales |
2,644 |
2,181 |
21.2% |
6,712 |
6,726 |
(0.2%) |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Carolinas |
25,508 |
23,737 |
7.5% |
67,890 |
67,511 |
0.6% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
2,151,654 |
2,120,091 |
1.5% |
2,144,598 |
2,113,735 |
1.5% |
||||||||||||||||||
|
General Service |
350,252 |
346,039 |
1.2% |
348,819 |
344,699 |
1.2% |
||||||||||||||||||
|
Industrial |
6,276 |
6,414 |
(2.2%) |
6,303 |
6,444 |
(2.2%) |
||||||||||||||||||
|
Other Energy Sales |
15,224 |
15,095 |
0.9% |
15,170 |
15,014 |
1.0% |
||||||||||||||||||
|
Total Regular Sales |
2,523,406 |
2,487,639 |
1.4% |
2,514,890 |
2,479,892 |
1.4% |
||||||||||||||||||
|
Special Sales |
24 |
24 |
—% |
24 |
25 |
(4.0%) |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Carolinas |
2,523,430 |
2,487,663 |
1.4% |
2,514,914 |
2,479,917 |
1.4% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
9,395 |
8,597 |
9.3% |
20,056 |
22,127 |
(9.4%) |
||||||||||||||||||
|
Nuclear |
11,607 |
10,991 |
5.6% |
33,409 |
34,110 |
(2.1%) |
||||||||||||||||||
|
Hydro |
(35) |
(40) |
12.5% |
802 |
436 |
83.9% |
||||||||||||||||||
|
Oil and Natural Gas |
3,216 |
2,945 |
9.2% |
8,893 |
7,936 |
12.1% |
||||||||||||||||||
|
Renewable Energy |
3 |
3 |
—% |
10 |
10 |
—% |
||||||||||||||||||
|
Total Generation (4) |
24,186 |
22,496 |
7.5% |
63,170 |
64,619 |
(2.2%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,729 |
2,731 |
(0.1%) |
8,796 |
6,988 |
25.9% |
||||||||||||||||||
|
Total Sources of Energy |
26,915 |
25,227 |
6.7% |
71,966 |
71,607 |
0.5% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
1,407 |
1,490 |
(5.6%) |
4,076 |
4,096 |
(0.5%) |
||||||||||||||||||
|
Total GWh Sources |
25,508 |
23,737 |
7.5% |
67,890 |
67,511 |
0.6% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
19,678 |
19,645 |
||||||||||||||||||||||
|
Winter |
20,383 |
20,360 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
97 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
— |
5 |
(100.0%) |
1,861 |
2,109 |
(11.8%) |
||||||||||||||||||
|
Cooling Degree Days |
1,301 |
1,085 |
19.9% |
1,890 |
1,709 |
10.6% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(100.0%) |
(51.6%) |
n/a |
(7.1%) |
9.4% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
33.6% |
6.2% |
n/a |
29.0% |
9.8% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Progress | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
5,406 |
5,107 |
5.9% |
14,003 |
14,547 |
(3.7%) |
||||||||||||||||||
|
General Service |
4,667 |
4,563 |
2.3% |
12,007 |
12,000 |
0.1% |
||||||||||||||||||
|
Industrial |
2,806 |
2,788 |
0.6% |
7,792 |
7,790 |
—% |
||||||||||||||||||
|
Other Energy Sales |
22 |
26 |
(15.4%) |
68 |
81 |
(16.0%) |
||||||||||||||||||
|
Unbilled Sales |
(112) |
(481) |
76.7% |
98 |
(352) |
127.8% |
||||||||||||||||||
|
Total Regular Electric Sales |
12,789 |
12,003 |
6.5% |
1.4% |
33,968 |
34,066 |
(0.3%) |
0.2% |
||||||||||||||||
|
Special Sales |
7,244 |
6,280 |
15.4% |
20,043 |
15,934 |
25.8% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Progress |
20,033 |
18,283 |
9.6% |
54,011 |
50,000 |
8.0% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,294,491 |
1,276,474 |
1.4% |
1,289,892 |
1,272,450 |
1.4% |
||||||||||||||||||
|
General Service |
229,854 |
227,015 |
1.3% |
228,698 |
225,721 |
1.3% |
||||||||||||||||||
|
Industrial |
4,131 |
4,204 |
(1.7%) |
4,142 |
4,221 |
(1.9%) |
||||||||||||||||||
|
Other Energy Sales |
1,505 |
1,683 |
(10.6%) |
1,549 |
1,687 |
(8.2%) |
||||||||||||||||||
|
Total Regular Sales |
1,529,981 |
1,509,376 |
1.4% |
1,524,281 |
1,504,079 |
1.3% |
||||||||||||||||||
|
Special Sales |
15 |
15 |
—% |
15 |
15 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Progress |
1,529,996 |
1,509,391 |
1.4% |
1,524,296 |
1,504,094 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
5,073 |
4,110 |
23.4% |
9,508 |
11,454 |
(17.0%) |
||||||||||||||||||
|
Nuclear |
7,570 |
7,478 |
1.2% |
22,376 |
18,470 |
21.1% |
||||||||||||||||||
|
Hydro |
71 |
55 |
29.1% |
449 |
389 |
15.4% |
||||||||||||||||||
|
Oil and Natural Gas |
5,942 |
5,857 |
1.5% |
18,037 |
17,183 |
5.0% |
||||||||||||||||||
|
Renewable Energy |
55 |
— |
n/a |
146 |
— |
n/a |
||||||||||||||||||
|
Total Generation (4) |
18,711 |
17,500 |
6.9% |
50,516 |
47,496 |
6.4% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,129 |
1,447 |
47.1% |
5,391 |
4,627 |
16.5% |
||||||||||||||||||
|
Total Sources of Energy |
20,840 |
18,947 |
10.0% |
55,907 |
52,123 |
7.3% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
807 |
664 |
21.5% |
1,896 |
2,123 |
(10.7%) |
||||||||||||||||||
|
Total GWh Sources |
20,033 |
18,283 |
9.6% |
54,011 |
50,000 |
8.0% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
12,935 |
12,923 |
||||||||||||||||||||||
|
Winter |
14,034 |
14,042 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
89 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
— |
1 |
(100.0%) |
1,693 |
2,004 |
(15.5%) |
||||||||||||||||||
|
Cooling Degree Days |
1,343 |
1,131 |
18.7% |
1,955 |
1,779 |
9.9% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(100.0%) |
(78.3%) |
n/a |
(7.4%) |
13.3% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
28.5% |
2.7% |
n/a |
23.3% |
5.8% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Florida | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
6,608 |
6,152 |
7.4% |
15,653 |
15,200 |
3.0% |
||||||||||||||||||
|
General Service |
4,432 |
4,309 |
2.9% |
11,493 |
11,401 |
0.8% |
||||||||||||||||||
|
Industrial |
817 |
861 |
(5.1%) |
2,381 |
2,442 |
(2.5%) |
||||||||||||||||||
|
Other Energy Sales |
6 |
6 |
—% |
18 |
18 |
—% |
||||||||||||||||||
|
Unbilled Sales |
(160) |
(226) |
29.2% |
498 |
567 |
(12.2%) |
||||||||||||||||||
|
Total Regular Electric Sales |
11,703 |
11,102 |
5.4% |
1.4% |
30,043 |
29,628 |
1.4% |
1.1% |
||||||||||||||||
|
Special Sales |
737 |
411 |
79.3% |
1,499 |
1,160 |
29.2% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Florida |
12,440 |
11,513 |
8.1% |
31,542 |
30,788 |
2.4% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,550,574 |
1,526,065 |
1.6% |
1,546,245 |
1,521,345 |
1.6% |
||||||||||||||||||
|
General Service |
196,142 |
193,645 |
1.3% |
195,402 |
193,161 |
1.2% |
||||||||||||||||||
|
Industrial |
2,168 |
2,249 |
(3.6%) |
2,184 |
2,250 |
(2.9%) |
||||||||||||||||||
|
Other Energy Sales |
1,529 |
1,534 |
(0.3%) |
1,534 |
1,537 |
(0.2%) |
||||||||||||||||||
|
Total Regular Sales |
1,750,413 |
1,723,493 |
1.6% |
1,745,365 |
1,718,293 |
1.6% |
||||||||||||||||||
|
Special Sales |
14 |
14 |
—% |
14 |
14 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Florida |
1,750,427 |
1,723,507 |
1.6% |
1,745,379 |
1,718,307 |
1.6% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
2,823 |
2,909 |
(3.0%) |
6,605 |
8,106 |
(18.5%) |
||||||||||||||||||
|
Oil and Natural Gas |
7,610 |
7,215 |
5.5% |
19,371 |
19,128 |
1.3% |
||||||||||||||||||
|
Renewable Energy |
2 |
— |
n/a |
2 |
— |
n/a |
||||||||||||||||||
|
Total Generation (4) |
10,435 |
10,124 |
3.1% |
25,978 |
27,234 |
(4.6%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,768 |
1,986 |
39.4% |
7,407 |
5,280 |
40.3% |
||||||||||||||||||
|
Total Sources of Energy |
13,203 |
12,110 |
9.0% |
33,385 |
32,514 |
2.7% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
763 |
597 |
27.8% |
1,843 |
1,726 |
6.8% |
||||||||||||||||||
|
Total GWh Sources |
12,440 |
11,513 |
8.1% |
31,542 |
30,788 |
2.4% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
9,021 |
8,958 |
||||||||||||||||||||||
|
Winter |
9,926 |
9,909 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
— |
— |
—% |
401 |
373 |
7.5% |
||||||||||||||||||
|
Cooling Degree Days |
1,598 |
1,487 |
7.5% |
2,909 |
2,977 |
(2.3%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
—% |
—% |
n/a |
1.3% |
(6.2%) |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
8.0% |
(1.6%) |
n/a |
7.9% |
8.8% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
2,735 |
2,399 |
14.0% |
6,802 |
6,891 |
(1.3%) |
||||||||||||||||||
|
General Service |
2,751 |
2,603 |
5.7% |
7,326 |
7,281 |
0.6% |
||||||||||||||||||
|
Industrial |
1,577 |
1,580 |
(0.2%) |
4,478 |
4,507 |
(0.6%) |
||||||||||||||||||
|
Other Energy Sales |
27 |
28 |
(3.6%) |
82 |
82 |
—% |
||||||||||||||||||
|
Unbilled Sales |
16 |
(57) |
128.1% |
136 |
(8) |
1,800.0% |
||||||||||||||||||
|
Total Regular Electric Sales |
7,106 |
6,553 |
8.4% |
3.1% |
18,824 |
18,753 |
0.4% |
0.3% |
||||||||||||||||
|
Special Sales |
108 |
145 |
(25.5%) |
293 |
945 |
(69.0%) |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Ohio |
7,214 |
6,698 |
7.7% |
19,117 |
19,698 |
(2.9%) |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
752,157 |
744,927 |
1.0% |
752,530 |
746,183 |
0.9% |
||||||||||||||||||
|
General Service |
87,582 |
87,234 |
0.4% |
87,522 |
87,203 |
0.4% |
||||||||||||||||||
|
Industrial |
2,506 |
2,525 |
(0.8%) |
2,517 |
2,531 |
(0.6%) |
||||||||||||||||||
|
Other Energy Sales |
3,259 |
3,223 |
1.1% |
3,253 |
3,215 |
1.2% |
||||||||||||||||||
|
Total Regular Sales |
845,504 |
837,909 |
0.9% |
845,822 |
839,132 |
0.8% |
||||||||||||||||||
|
Special Sales |
1 |
1 |
—% |
1 |
1 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Ohio |
845,505 |
837,910 |
0.9% |
845,823 |
839,133 |
0.8% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
1,186 |
1,065 |
11.4% |
2,650 |
3,453 |
(23.3%) |
||||||||||||||||||
|
Oil and Natural Gas |
17 |
13 |
30.8% |
28 |
43 |
(34.9%) |
||||||||||||||||||
|
Total Generation (4) |
1,203 |
1,078 |
11.6% |
2,678 |
3,496 |
(23.4%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
6,655 |
(10,721) |
162.1% |
18,141 |
725 |
2,402.2% |
||||||||||||||||||
|
Total Sources of Energy |
7,858 |
(9,643) |
181.5% |
20,819 |
4,221 |
393.2% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
644 |
(562) |
214.6% |
1,702 |
302 |
463.6% |
||||||||||||||||||
|
Total GWh Sources |
7,214 |
(9,081) |
179.4% |
19,117 |
3,919 |
387.8% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
1,062 |
1,062 |
||||||||||||||||||||||
|
Winter |
1,164 |
1,164 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
24 |
21 |
14.3% |
2,848 |
3,331 |
(14.5%) |
||||||||||||||||||
|
Cooling Degree Days |
973 |
703 |
38.4% |
1,345 |
1,094 |
22.9% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(60.0%) |
(50.0%) |
n/a |
(8.2%) |
11.3% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
29.9% |
(13.6%) |
n/a |
24.9% |
(7.5%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Gas Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
MCF Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,664,506 |
1,755,562 |
(5.2%) |
23,292,149 |
28,986,782 |
(19.6%) |
||||||||||||||||||
|
General Service |
1,805,312 |
1,838,773 |
(1.8%) |
15,372,608 |
18,463,853 |
(16.7%) |
||||||||||||||||||
|
Industrial |
1,134,323 |
1,192,994 |
(4.9%) |
5,017,068 |
5,604,282 |
(10.5%) |
||||||||||||||||||
|
Other Energy Sales |
4,904,296 |
4,439,138 |
10.5% |
15,717,935 |
15,194,003 |
3.4% |
||||||||||||||||||
|
Unbilled Sales |
59,903 |
24,000 |
149.6% |
(2,375,774) |
(3,221,000) |
26.2% |
||||||||||||||||||
|
Total Gas Sales - Duke Energy Ohio |
9,568,340 |
9,250,467 |
3.4% |
2.7% |
57,023,986 |
65,027,920 |
(12.3%) |
(6.1%) |
||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
473,823 |
471,005 |
0.6% |
477,385 |
474,704 |
0.6% |
||||||||||||||||||
|
General Service |
41,180 |
41,294 |
(0.3%) |
43,100 |
43,212 |
(0.3%) |
||||||||||||||||||
|
Industrial |
1,524 |
1,544 |
(1.3%) |
1,608 |
1,618 |
(0.6%) |
||||||||||||||||||
|
Other Energy Sales |
143 |
142 |
0.7% |
144 |
143 |
0.7% |
||||||||||||||||||
|
Total Average Number of Gas Customers - Duke Energy Ohio |
516,670 |
513,985 |
0.5% |
522,237 |
519,677 |
0.5% |
||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
24 |
21 |
14.3% |
2,848 |
3,331 |
(14.5%) |
||||||||||||||||||
|
Cooling Degree Days |
973 |
703 |
38.4% |
1,345 |
1,094 |
22.9% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(60.0%) |
(50.0%) |
n/a |
(8.2%) |
11.3% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
29.9% |
(13.6%) |
n/a |
24.9% |
(7.5%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
Duke Energy Indiana | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
September 2016 | ||||||||||||||||||||||||
|
Three Months Ended September 30, |
Nine Months Ended September 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
2,550 |
2,305 |
10.6% |
6,937 |
7,112 |
(2.5%) |
||||||||||||||||||
|
General Service |
2,411 |
2,299 |
4.9% |
6,360 |
6,368 |
(0.1%) |
||||||||||||||||||
|
Industrial |
2,731 |
2,731 |
—% |
7,950 |
7,901 |
0.6% |
||||||||||||||||||
|
Other Energy Sales |
13 |
13 |
—% |
39 |
40 |
(2.5%) |
||||||||||||||||||
|
Unbilled Sales |
(1) |
3 |
(133.3%) |
102 |
10 |
920.0% |
||||||||||||||||||
|
Total Regular Electric Sales |
7,704 |
7,351 |
4.8% |
(0.2%) |
21,388 |
21,431 |
(0.2%) |
(0.4%) |
||||||||||||||||
|
Special Sales |
1,369 |
1,433 |
(4.5%) |
5,236 |
3,786 |
38.3% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Indiana |
9,073 |
8,784 |
3.3% |
26,624 |
25,217 |
5.6% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
706,739 |
697,535 |
1.3% |
706,434 |
698,260 |
1.2% |
||||||||||||||||||
|
General Service |
101,063 |
100,726 |
0.3% |
100,805 |
100,566 |
0.2% |
||||||||||||||||||
|
Industrial |
2,726 |
2,713 |
0.5% |
2,722 |
2,704 |
0.7% |
||||||||||||||||||
|
Other Energy Sales |
1,621 |
1,578 |
2.7% |
1,611 |
1,571 |
2.5% |
||||||||||||||||||
|
Total Regular Sales |
812,149 |
802,552 |
1.2% |
811,572 |
803,101 |
1.1% |
||||||||||||||||||
|
Special Sales |
7 |
10 |
(30.0%) |
7 |
8 |
(12.5%) |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Indiana |
812,156 |
802,562 |
1.2% |
811,579 |
803,109 |
1.1% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
6,188 |
6,828 |
(9.4%) |
19,548 |
17,293 |
13.0% |
||||||||||||||||||
|
Hydro |
95 |
76 |
25.0% |
251 |
200 |
25.5% |
||||||||||||||||||
|
Oil and Natural Gas |
809 |
503 |
60.8% |
2,132 |
1,764 |
20.9% |
||||||||||||||||||
|
Total Generation (4) |
7,092 |
7,407 |
(4.3%) |
21,931 |
19,257 |
13.9% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,824 |
1,792 |
57.6% |
6,022 |
6,841 |
(12.0%) |
||||||||||||||||||
|
Total Sources of Energy |
9,916 |
9,199 |
7.8% |
27,953 |
26,098 |
7.1% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
843 |
415 |
103.1% |
1,329 |
881 |
50.9% |
||||||||||||||||||
|
Total GWh Sources |
9,073 |
8,784 |
3.3% |
26,624 |
25,217 |
5.6% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
7,143 |
7,493 |
||||||||||||||||||||||
|
Winter |
7,521 |
7,871 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
21 |
26 |
(19.2%) |
3,064 |
3,715 |
(17.5%) |
||||||||||||||||||
|
Cooling Degree Days |
932 |
706 |
32.0% |
1,308 |
1,070 |
22.2% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(69.1%) |
(45.7%) |
n/a |
(8.3%) |
15.9% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
26.5% |
(12.6%) |
n/a |
22.5% |
(9.5%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||
|
Reported Earnings |
Costs to Achieve, Mergers |
Cost Savings Initiatives |
Commercial Renewables Impairment |
Discontinued Operations |
Total Adjustments |
Adjusted Earnings | ||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
1,200 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
1,200 |
||||||||||||||
|
International Energy |
64 |
— |
— |
— |
— |
— |
64 |
|||||||||||||||||||||
|
Commercial Portfolio |
(21) |
— |
— |
45 |
C |
— |
45 |
24 |
||||||||||||||||||||
|
Total Reportable Segment Income |
1,243 |
— |
— |
45 |
— |
45 |
1,288 |
|||||||||||||||||||||
|
Other |
(189) |
52 |
A |
12 |
B |
— |
— |
64 |
(125) |
|||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
1,054 |
52 |
12 |
45 |
— |
109 |
1,163 |
|||||||||||||||||||||
|
Discontinued Operations |
122 |
— |
— |
— |
(122) |
D |
(122) |
— |
||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
1,176 |
$ |
52 |
$ |
12 |
$ |
45 |
$ |
(122) |
$ |
(13) |
$ |
1,163 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
1.70 |
$ |
0.08 |
$ |
0.02 |
$ |
0.07 |
$ |
(0.18) |
$ |
(0.01) |
$ |
1.69 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.70 |
$ |
0.07 |
$ |
0.02 |
$ |
0.07 |
$ |
(0.18) |
$ |
(0.02) |
$ |
1.68 |
||||||||||||||
|
A - Net of $32 million tax benefit. Includes $33 million recorded within Operating Expenses and $51 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
|
B - Net of $7 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
|
C - Net of $26 million tax benefit. Other-than-temporary impairment included within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
|
D - Tax adjustments related to previously disposed businesses recorded in Income (Loss) From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | |||
|
Basic |
689 |
||
|
Diluted |
691 |
||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||
|
Reported Earnings |
Costs to Achieve, Mergers |
International Impairment |
Cost Savings Initiatives |
Commercial Renewables Impairment |
Discontinued Operations |
Total Adjustments |
Adjusted Earnings | |||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
2,613 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
2,613 |
||||||||||||||||
|
International Energy |
85 |
— |
145 |
B |
— |
— |
— |
145 |
230 |
|||||||||||||||||||||||
|
Commercial Portfolio |
20 |
— |
— |
— |
45 |
D |
— |
45 |
65 |
|||||||||||||||||||||||
|
Total Reportable Segment Income |
2,718 |
— |
145 |
— |
45 |
— |
190 |
2,908 |
||||||||||||||||||||||||
|
Other |
(463) |
195 |
A |
— |
39 |
C |
— |
— |
234 |
(229) |
||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
2,255 |
195 |
145 |
39 |
45 |
— |
424 |
2,679 |
||||||||||||||||||||||||
|
Discontinued Operations |
124 |
— |
— |
— |
— |
(124) |
E |
(124) |
— |
|||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
2,379 |
$ |
195 |
$ |
145 |
$ |
39 |
$ |
45 |
$ |
(124) |
$ |
300 |
$ |
2,679 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
3.45 |
$ |
0.27 |
$ |
0.21 |
$ |
0.06 |
$ |
0.07 |
$ |
(0.18) |
$ |
0.43 |
$ |
3.88 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
3.44 |
$ |
0.28 |
$ |
0.21 |
$ |
0.06 |
$ |
0.07 |
$ |
(0.18) |
$ |
0.44 |
$ |
3.88 |
||||||||||||||||
|
A - Net of $120 million tax benefit. Includes $1 million recorded within Operating Revenues, $80 million recorded within Operating Expenses and $234 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. The interest expense primarily relates to losses on forward-starting interest rate swaps associated with the Piedmont acquisition financing. | ||||||||||||||||||||||||||||||||
|
B - Net of $49 million tax benefit. Impairment of certain assets in Central America recorded within Impairment Charges on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
C - Net of $24 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
D - Net of $26 million tax benefit. Other-than-temporary impairment included within Equity in earnings (losses) of unconsolidated affiliates on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
E - Tax adjustments related to previously disposed businesses recorded in Income (Loss) From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | |||
|
Basic |
689 |
||
|
Diluted |
690 |
||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||
|
Reported Earnings |
Costs to Achieve, Progress Merger |
Edwardsport Settlement |
Ash Basin Settlement |
Economic Hedges (Mark-to-Market) * |
Discontinued Operations |
Total Adjustments |
Adjusted Earnings | |||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
905 |
$ |
— |
$ |
56 |
B |
$ |
4 |
C |
$ |
— |
$ |
— |
$ |
60 |
$ |
965 |
||||||||||||||
|
International Energy |
69 |
— |
— |
— |
— |
— |
— |
69 |
||||||||||||||||||||||||
|
Commercial Portfolio |
8 |
— |
— |
— |
(1) |
D |
— |
(1) |
7 |
|||||||||||||||||||||||
|
Total Reportable Segment Income |
982 |
— |
56 |
4 |
(1) |
— |
59 |
1,041 |
||||||||||||||||||||||||
|
Other |
(45) |
15 |
A |
— |
— |
— |
— |
15 |
(30) |
|||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
937 |
15 |
56 |
4 |
(1) |
— |
74 |
1,011 |
||||||||||||||||||||||||
|
Discontinued Operations |
(5) |
— |
— |
— |
— |
5 |
E |
5 |
— |
|||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
932 |
$ |
15 |
$ |
56 |
$ |
4 |
$ |
(1) |
$ |
5 |
$ |
79 |
$ |
1,011 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
1.35 |
$ |
0.02 |
$ |
0.08 |
$ |
0.01 |
$ |
— |
$ |
0.01 |
$ |
0.12 |
$ |
1.47 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.35 |
$ |
0.02 |
$ |
0.08 |
$ |
0.01 |
$ |
— |
$ |
0.01 |
$ |
0.12 |
$ |
1.47 |
||||||||||||||||
|
A - Net of $9 million tax benefit. Recorded within Operating Expenses on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
B - Net of $34 million tax benefit. $85 million recorded within Impairment charges and $5 million recorded within Other income and expenses, net on the Duke Energy Indiana Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
C - Net of $3 million tax benefit. Recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. Includes $1 million and $6 million at Duke Energy Carolinas and Duke Energy Progress, respectively. | ||||||||||||||||||||||||||||||||
|
D - Recorded within Operating Revenues on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
E - Recorded in (Loss) Income From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | |||
|
Basic |
688 |
||
|
Diluted |
688 |
||
|
* Mark-to-market adjustments reflect the impact of derivative contracts, which are used in Duke Energy's hedging of a portion of the economic value of its generation assets in the Commercial Portfolio segment. The mark-to-market impact of derivative contracts is recognized in GAAP earnings immediately as such derivative contracts do not qualify for hedge accounting or regulatory treatment. The economic value of generation assets is subject to fluctuations in fair value due to market price volatility of input and output commodities (e.g. coal, electricity, natural gas). Economic hedging involves both purchases and sales of those input and output commodities related to generation assets. Operations of the generation assets are accounted for under the accrual method. Management believes excluding impacts of mark-to-market changes of the derivative contracts from adjusted earnings until settlement better matches the financial impacts of the derivative contract with the portion of economic value of the underlying hedged asset. Management believes that the presentation of adjusted diluted EPS Attributable to Duke Energy Corporation provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy Corporation's performance across periods. |
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||||||
|
Reported Earnings |
Costs to Achieve, Progress Merger |
Edwardsport Settlement |
Midwest Generation Operations |
Ash Basin Settlement |
Economic Hedges (Mark-to-Market) * |
Discontinued Operations |
Total Adjustments |
Adjusted Earnings | ||||||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
2,311 |
$ |
— |
$ |
56 |
B |
$ |
— |
$ |
4 |
D |
$ |
— |
$ |
— |
$ |
60 |
$ |
2,371 |
||||||||||||||||
|
International Energy |
157 |
— |
— |
— |
— |
— |
— |
— |
157 |
|||||||||||||||||||||||||||
|
Commercial Portfolio |
(15) |
— |
— |
94 |
C |
— |
(1) |
E |
41 |
F |
134 |
119 |
||||||||||||||||||||||||
|
Total Reportable Segment Income |
2,453 |
— |
56 |
94 |
4 |
(1) |
41 |
194 |
2,647 |
|||||||||||||||||||||||||||
|
Other |
(139) |
42 |
A |
— |
— |
— |
— |
— |
42 |
(97) |
||||||||||||||||||||||||||
|
Intercompany Eliminations |
(4) |
— |
— |
— |
— |
— |
4 |
G |
4 |
— |
||||||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
2,310 |
42 |
56 |
94 |
4 |
(1) |
45 |
240 |
2,550 |
|||||||||||||||||||||||||||
|
Discontinued Operations |
29 |
— |
— |
(94) |
C |
— |
— |
65 |
H |
(29) |
— |
|||||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
2,339 |
$ |
42 |
$ |
56 |
$ |
— |
$ |
4 |
$ |
(1) |
$ |
110 |
$ |
211 |
$ |
2,550 |
||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
3.36 |
$ |
0.05 |
$ |
0.08 |
$ |
— |
$ |
0.01 |
$ |
— |
$ |
0.16 |
$ |
0.30 |
$ |
3.66 |
||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
3.36 |
$ |
0.05 |
$ |
0.08 |
$ |
— |
$ |
0.01 |
$ |
— |
$ |
0.16 |
$ |
0.30 |
$ |
3.66 |
||||||||||||||||||
|
A - Net of $25 million tax benefit. Recorded within Operating Expenses on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
B - Net of $34 million tax benefit. $85 million recorded within Impairment charges and $5 million recorded within Other income and expenses, net on the Duke Energy Indiana Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
C - Operating results of the nonregulated Midwest generation business that had been classified from discontinued operations after adjustment for special items and economic hedges (net of $53 million tax benefit). | ||||||||||||||||||||||||||||||||||||
|
D - Net of $3 million tax benefit. Recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. Includes $1 million and $6 million at Duke Energy Carolinas and Duke Energy Progress, respectively. | ||||||||||||||||||||||||||||||||||||
|
E - Recorded within Operating Revenues on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
F - State tax expense resulting from the completion of the sale of the nonregulated Midwest generation business. | ||||||||||||||||||||||||||||||||||||
|
G - Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | ||||||||||||||||||||||||||||||||||||
|
H - Recorded in (Loss) Income From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations, and includes the impact of a litigation reserve related to the nonregulated Midwest generation business. | ||||||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | |||
|
Basic |
696 |
||
|
Diluted |
696 |
||
|
* Mark-to-market adjustments reflect the impact of derivative contracts, which are used in Duke Energy's hedging of a portion of the economic value of its generation assets in the Commercial Portfolio segment. The mark-to-market impact of derivative contracts is recognized in GAAP earnings immediately as such derivative contracts do not qualify for hedge accounting or regulatory treatment. The economic value of generation assets is subject to fluctuations in fair value due to market price volatility of input and output commodities (e.g. coal, electricity, natural gas). Economic hedging involves both purchases and sales of those input and output commodities related to generation assets. Operations of the generation assets are accounted for under the accrual method. Management believes excluding impacts of mark-to-market changes of the derivative contracts from adjusted earnings until settlement better matches the financial impacts of the derivative contract with the portion of economic value of the underlying hedged asset. Management believes that the presentation of adjusted diluted EPS Attributable to Duke Energy Corporation provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy Corporation's performance across periods. |
|
DUKE ENERGY CORPORATION | ||||||||||||||
|
Three Months Ended |
Nine Months Ended | |||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate | |||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
1,579 |
$ |
3,240 |
||||||||||
|
Costs to Achieve, Mergers |
84 |
315 |
||||||||||||
|
International Impairment |
— |
194 |
||||||||||||
|
Cost Savings Initiatives |
19 |
63 |
||||||||||||
|
Commercial Renewables Impairment |
71 |
71 |
||||||||||||
|
Noncontrolling Interests |
(5) |
(13) |
||||||||||||
|
Adjusted Pretax Income |
$ |
1,748 |
$ |
3,870 |
||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
520 |
32.9% |
$ |
972 |
30.0% |
||||||||
|
Costs to Achieve, Mergers |
32 |
120 |
||||||||||||
|
International Impairment |
— |
49 |
||||||||||||
|
Cost Savings Initiatives |
7 |
24 |
||||||||||||
|
Commercial Renewables Impairment |
26 |
26 |
||||||||||||
|
Adjusted Tax Expense |
$ |
585 |
33.5% * |
$ |
1,191 |
30.8% * |
||||||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. | ||||||||||||||
|
DUKE ENERGY CORPORATION |
|||||||||||||||
|
Three Months Ended |
Nine Months Ended |
||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate |
||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
1,360 |
$ |
3,438 |
|||||||||||
|
Costs to Achieve, Progress Energy Merger |
24 |
67 |
|||||||||||||
|
Edwardsport Settlement |
90 |
90 |
|||||||||||||
|
Midwest Generation Operations |
— |
147 |
|||||||||||||
|
Ash Basin Settlement |
7 |
7 |
|||||||||||||
|
Economic Hedges (Mark-to-Market) |
(1) |
(1) |
|||||||||||||
|
Noncontrolling Interests |
(3) |
(10) |
|||||||||||||
|
Intercompany Eliminations |
— |
4 |
|||||||||||||
|
Adjusted Pretax Income |
$ |
1,477 |
$ |
3,742 |
|||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
420 |
30.9% |
$ |
1,118 |
32.5% |
|||||||||
|
Tax Adjustment Related to Midwest Generation Sale |
— |
(41) |
|||||||||||||
|
Costs to Achieve, Progress Energy Merger |
9 |
25 |
|||||||||||||
|
Edwardsport Settlement |
34 |
34 |
|||||||||||||
|
Midwest Generation Operations |
— |
53 |
|||||||||||||
|
Ash Basin Settlement |
3 |
3 |
|||||||||||||
|
Adjusted Tax Expense |
$ |
466 |
31.6% * |
$ |
1,192 |
31.9% * |
|||||||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
|||||||||||||||
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SOURCE Duke Energy
Article Date
11/4/2016Duke Energy announces five executive appointments
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Nov. 2, 2016 /PRNewswire/ -- Duke Energy today announced five executive appointments focused on strengthening the company's regulatory and economic development initiatives.
Clark Gillespy – currently Duke Energy's South Carolina state president – will become senior vice president of economic development, a new position, leading an enterprise-wide economic development team that will seek to identify and attract new and expanding industries to Duke Energy's service areas. Gillespy, 54, will also lead the company's efforts to identify and promote wider adoption of new and emerging grid-enabled technologies, including electric vehicle charging infrastructure.
Alex Glenn – currently Duke Energy's Florida state president – will become senior vice president of state and federal regulatory legal support, partnering with the company's corporate and regulatory strategy team and state presidents to advance rate and regulatory initiatives, and update regulatory models. Glenn, 51, also will provide legal advice on state and federal regulatory matters.
Kodwo Ghartey-Tagoe – currently senior vice president of state and federal regulatory legal support – will succeed Gillespy as South Carolina state president. Ghartey-Tagoe, 53, will be responsible for the financial performance of South Carolina and manage state and local regulatory and government relations, and community affairs. He will work closely with Glenn's team and the corporate and regulatory strategy team to advance rate and regulatory initiatives in South Carolina.
Harry Sideris – currently senior vice president of environmental health and safety – will succeed Glenn as Florida state president. Sideris, 46, will be responsible for the financial performance of Florida and manage state and local regulatory and government relations, and community affairs. He will also work with Glenn's team and the corporate and regulatory strategy team to advance rate and regulatory initiatives in Florida.
Paul Draovitch – currently senior vice president for fossil-hydro operations – will succeed Sideris as senior vice president of environmental health and safety. Draovitch, 55, will be responsible for developing and advancing policies, programs and strategies to ensure Duke Energy's compliance with environmental, health and safety laws and regulations.
"These changes bolster ongoing efforts to better serve our customers and communities, and strengthen our focus on economic development," said Lynn Good Duke Energy chairman, president and CEO. "As we continue our progress, these changes will also broaden the depth and business perspective of our leadership team."
The appointments will have varying effective dates between now and year-end.
Executive photos are available here: https://www.duke-energy.com/our-company/executive-photos
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
11/2/2016With a final blast, the Dan River Steam Station passes into history
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
EDEN, N.C., Oct. 31, 2016 /PRNewswire/ -- After more than 60 years of reliable service to Duke Energy customers in Rockingham County and across the Carolinas, the Dan River Steam Station is no more.
An early-morning implosion on Sunday brought down the plant's power house and three boilers. A subsequent implosion on Monday brought down the remaining precipitator. The two implosions were the culmination of nearly two years of preparation and mechanical demolition at the site.
View a video of the powerhouse implosion here: https://youtu.be/qRSpcJo78DU
The plant's three boilers were used to burn coal to make steam, which in turn powered turbines to generate energy for customers across the Carolinas region. After the coal was combusted, the electrostatic precipitator captured small dust and ash particles left over from that process.
The 276-megawatt (MW) Dan River Steam Station began service in 1949 and was considered state-of-the-art technology in its day. It was retired in 2012, the same year that a new 620-MW natural gas-fired combined cycle plant came into service at the site.
The plant's retirement was part of the company's efforts to enhance service to customers by replacing older, less efficient coal units with cleaner, more efficient natural gas technology.
To date, Duke Energy has retired seven of 14 coal plants in North Carolina.
During its lifespan, the Dan River Steam Station was home to hundreds of employees who lived and worked in Rockingham County. Notable traditions at the site included a plant employee softball team that competed against teams from power plants across the state, and the iconic annual Christmas tree lighting atop the plant's smokestack, visible to passersby in the community.
To learn more about the company's coal plant decommissioning program, visit duke-energy.com/coal-decommissioning.
View a video compilation of Duke Energy's progress imploding power plants across the state here: https://www.youtube.com/watch?v=fX8zi1HtxQg&feature=youtu.be
Progress closing ash basins
In addition to demolishing the coal plant, work continues to excavate coal ash and safely close ash basins at the Dan River site. Coal ash from seven decades of plant operations is currently stored in two ash basins and a dry ash storage area on site.
Crews have moved more than 750,000 tons of coal ash by rail during the last year from the Dan River site to the Maplewood Landfill, a fully-lined storage facility in Amelia County, Va.
About half of the approximately 3 million tons of coal ash at the Dan River Steam Station will be taken to this landfill in central Virginia. Remaining ash will be stored dry in a new fully lined landfill under construction on plant property.
Ash storage areas at the site are expected to be fully excavated by August 2019 as part of a comprehensive initiative to safely close all ash basins across Duke Energy's six-state service area.
For additional information on progress closing ash basins at Dan River, visit www.duke-energy.com/danriver
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Jeff Brooks | 919.219.9215
24-Hour: 800.559.3853
Twitter: @DE_JeffB @DukeEnergy
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SOURCE Duke Energy
Article Date
10/31/2016Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 27, 2016 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.855 per share payable on Dec. 16, 2016, to shareholders of record at the close of business Nov. 18, 2016.
Duke Energy has paid a cash dividend for 90 consecutive years.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
10/27/2016Duke University study finds hexavalent chromium is not from ash basins
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 26, 2016 /PRNewswire/ -- Duke Energy today issued the following statement regarding new research from Duke University that identified low levels of hexavalent chromium in many drinking water wells far from coal ash basins. The study is published in the Oct. 26 peer- reviewed journal Environmental Science and Technology Letters.
We are gratified that Duke University's independent research supports and validates the robust scientific study that experts have conducted at our facilities.
"When combined with previous research, there is overwhelming evidence that coal ash basins are not impacting water quality in neighbor wells," said Harry Sideris, senior vice president of environmental, health and safety. "This study is an extraordinary development, particularly for hundreds of plant neighbors who have been needlessly concerned that ash basins contributed hexavalent chromium or other substances to their wells."
We remain focused on offering permanent water solutions to plant neighbors, as required by North Carolina's new coal ash law.
Given the clear evidence from a number of sources, it's time to move forward with safely closing ash basins in ways that protect people, the environment and wallets.
While coal ash basins have been ruled out as the source of hexavalent chromium in wells, the Duke University study raises important questions about drinking water. We support calls for EPA to complete its scientific review of an appropriate standard for hexavalent chromium in drinking water so there can be consistent guidance across the nation.
Additional data points:
For additional information, visit duke-energy.com/ash-management.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/26/201610/26/2016 - Duke Energy Renewables signs services pact with Deepwater Wind for its Block Island Wind Farm
Duke Energy Renewables signs services pact with Deepwater Wind for its Block Island Wind Farm
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 26, 2016 /PRNewswire/ -- Duke Energy Renewables today announced it has signed an agreement with Deepwater Wind Block Island to perform remote monitoring and control services for the first offshore wind project in the United States, the Block Island Wind Farm, located off the coast of Block Island, R.I.
Duke Energy's Renewable Control Center (RCC) will supply 24/7 monitoring and control services, data acquisition, performance analysis and reporting when the project begins commercial operation in November.
The RCC also will perform energy market and dispatch services for the Block Island Wind Farm, serving as point of contact with ISO New England, the regional transmission organization.
"Duke Energy is a proven leader in renewable energy monitoring services and their expertise will provide reliable, real-time monitoring and critical analysis of the Block Island Wind Farm's operations," said Deepwater Wind CEO Jeffrey Grybowski.
"We will leverage our vast operational experience and our advanced, secure control center to increase the performance and reliability of the Block Island Wind Farm," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology.
Duke Energy's RCC, located in Charlotte, N.C., is registered as a generator-operator with the North American Electric Reliability Corporation (NERC) and provides critical monitoring services for 4,500 MW of renewables from third-party and Duke Energy Renewables' sites.
"We are currently implementing additional cyber security controls to meet NERC's Critical Infrastructure Protection (CIP) requirements," said Jeff Wehner, vice president of Duke Energy Renewable Operations. "Offering the advanced technology and security of a CIP-compliant control center to others in the renewables industry, like the Block Island Wind Farm, saves customers the significant investment of building a control center of their own."
Deepwater Wind completed construction on the 30-megawatt (MW) Block Island Wind Farm in August. GE Renewable Energy is the project's turbine supplier, providing the five, 6-megawatt Haliade wind turbines for the wind farm.
The RCC is contracting with two companies to provide additional services for the Block Island Wind Farm. Grantek Systems Integration is supplying plant network, SCADA design and engineering services. Philadelphia-based Customized Energy Solutions is providing scheduling, settlement and reporting services.
See slide show of Block Island Wind Farm images on illumination. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics.
About Duke Energy Renewable Services
Duke Energy Renewable Services, part of Duke Energy Renewables, is a leader in operating and maintaining wind, solar and battery projects for customers throughout the United States. The company's growing fleet of owned and third-party wind and solar operations now spans 73 projects in 15 states, totaling more than 4,500 megawatts in electric-generating capacity.
Duke Energy's Renewable Control Center increases the performance and reliability of 4,500 MW of wind, solar and battery operations across the country.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 100 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
About Deepwater Wind
Deepwater Wind is a leading offshore wind and transmission developer. The company is led by a veteran team with extensive experience in developing renewable energy projects. The company is actively planning offshore wind projects to serve multiple East Coast markets located 15 or more miles offshore, including New York, Massachusetts, Rhode Island and New Jersey. The company's Block Island Wind Farm is America's first offshore wind farm. Visit www.dwwind.com for more info.
Duke Energy Contact: Tammie McGee
800.559.3853
Deepwater Wind Contact: Meaghan Wims
401.278.4434, mwims@duffyshanley.com
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SOURCE Duke Energy
Article Date
10/26/201610/25/2016 - New duke-energy.com enhances the customer experience
New duke-energy.com enhances the customer experience
Source: PR Newswire
CHARLOTTE, N.C., Oct. 25, 2016 /PRNewswire/ -- As part of its ongoing digital evolution, Duke Energy has launched the new duke-energy.com.
Designed with customers in mind, the site offers a modern design, quick access to some of the most popular features and easy navigation to tips, tools and products. And, it's mobile friendly, looking great on all devices – phone, tablet and desktop.
"Whether a customer is looking for outage information, payment locations, quick facts about the company or signing up for energy-saving programs, the site is designed to provide an engaging customer experience," said Joni Davis, vice president of Customer Communications and Channel Strategy. "The intuitive, visual navigation and an enhanced search functionality for faster access to content caters to our customers' evolving needs and how they want to receive information."
Here's a recap of key elements of the enhanced website.
Fresh, engaging design
The website incorporates a clean, modern design with ample white space and inviting images. Centered content with vertical scrolling makes it easy to scan headlines and read key pieces of information.
Mobile ready
The online experience is similar on any device. Whether on a laptop at home, smartphone at the ball field or tablet on vacation, website pages automatically format for optimal viewing.
Streamlined content
New navigational paths organize content for quick access. Once a state is selected, the top-level blue menu bar, which is visible from any page, displays four major areas: "For Your Home," "For Your Business," "Our Company" and "Partner With Us." Information is customized for the selected state. The most popular topics are listed under the main graphic, such as "Pay Your Bill."
Quick access to the most popular services
From the top-level blue menu bar, customers can access the most popular links: "Outages," "Customer Service" and "My Account." Residential and small business customers only need to log in to their account once. After that, they can toggle back and forth between their account section and the public pages.
Enhanced search function
The magnifying glass search icon appears at the top of every page and uses predictive search functionality to suggest search topics as a customer types.
Business information consolidated
All business information is consolidated under "For Your Business." Large to small business customers can view targeted content by industry, including whitepapers, products and services and other information.
Strengthening our communities
In a new section – "Partner With Us" – third parties can find out how to do business with and collaborate with Duke Energy. Some of the partners include builders, property managers, suppliers and trade allies.
On the horizon
The authenticated portals of duke-energy.com, where residential and small business customers log in to their account with a username and password, are not part of this upgrade. A new consolidated residential/small business customer portal will be launched in 2017, which will enable customers who have accounts in multiple jurisdictions to manage all of their account-related needs in one place.
For more information, visit https://www.duke-energy.com/info/duke-energy.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Media Relations
24-Hour: 800.559.3853
Twitter: @DukeEnergy
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SOURCE Duke Energy
Article Date
10/25/201610/24/2016 - Piedmont Natural Gas issues annual winter forecast; advises customers of colder weather, higher bills
Piedmont Natural Gas issues annual winter forecast; advises customers of colder weather, higher bills
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 24, 2016 /PRNewswire/ -- Piedmont Natural Gas, a subsidiary of Duke Energy, today issued its annual winter bills forecast for the upcoming winter period.
The forecast covers the period from November through March and applies to residential customers in Piedmont's three-state service area of North Carolina, South Carolina and Tennessee.
In its forecast, Piedmont notes that the upcoming winter period is likely to be significantly colder than last year's winter, which was approximately 20 percent warmer-than-normal throughout Piedmont's service area. Colder weather typically increases the amount of natural gas that a residential customer consumes.
The forecast follows EIA's recent Winter Fuels Outlook in projecting significantly colder winter weather compared with the previous winter, increased energy consumption, and higher monthly energy costs.
Piedmont's forecast estimates that its average residential customer's monthly natural gas bill will increase by approximately $20 to $30 per month, or from $100 to $150 over the upcoming winter period.
The total winter period bill for Piedmont's average residential customer is expected to range from $430 to $550; the EIA outlook projects average household winter heating fuel expenditures for the Southern region to be approximately $545 for the upcoming winter.
Residential customers could see higher or lower monthly bills than forecast depending on actual winter weather.
In addition to the expectation for a colder winter this year, the forecast also notes that the wholesale cost of natural gas is higher relative to last winter and will contribute to higher monthly natural gas bills for the average residential customer.
Piedmont passes on the wholesale cost of natural gas, which is market-based and can fluctuate up or down, to customers on a dollar-for-dollar basis with no added markup. Even so, Piedmont's wholesale natural gas cost benchmark included in its billing rates remains low by historical standards.
Company website a resource for energy saving tips for customers
For customers who want to learn more about energy saving tips, Piedmont maintains a special section on its website devoted to educating customers about their home's energy usage.
Visiting www.piedmontng.com, could help customers better manage the natural gas they use this winter, along with their monthly bills.
Energy saving tips include steps that are simple to do such as turning the thermostat down a few degrees and making sure windows and doors are properly sealed.
Still other steps, like investing in a programmable thermostat or purchasing higher efficiency natural gas equipment and appliances, may cost a bit more upfront, but will save the customer both energy and money over the life of the equipment.
For customers who want to know how much energy their home or their appliance uses, Piedmont also has several energy calculator tools on its website. The tools provide customers with a way to see what energy their home actually uses and how they can potentially reduce their consumption and better manage their natural gas bills.
Piedmont's "Share the Warmth" program assists others in the community
Piedmont noted in its winter forecast that one of the ways customers can assist those within the community who may need assistance with their energy bills during the upcoming winter is by enrolling in Piedmont's Share the Warmth Round Up Program.
Customers who sign up for the program will have their monthly natural gas bills rounded up to the nearest dollar. The amount rounded up goes to provide emergency energy assistance funds to individuals and families within the communities Piedmont serves, regardless of what energy is used in the home or what time of year the need arises.
For those customers who want to learn more about the Share the Warmth Round Up Program or want to enroll can visit Piedmont's website at www.piedmontng.com.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company primarily engaged in the distribution of natural gas to more than 1 million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers. Its subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available at www.piedmontng.com.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
|
MEDIA CONTACTS |
|
|
David Trusty |
Loree Elswick |
|
Piedmont Natural Gas |
Piedmont Natural Gas |
|
(704) 731-4391 |
(704) 731-4236 |
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SOURCE Piedmont Natural Gas
Article Date
10/24/2016Duke Energy Carolinas paving the way for more renewable energy projects
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 24, 2016 /PRNewswire/ -- Furthering efforts to provide renewable energy to customers, Duke Energy Carolinas (DEC) today issued a request for 750,000 megawatt-hours (MWh) of energy located in its territory.
Results from the request for proposals (RFP) will help DEC meet North Carolina's 2007 Renewable Energy and Energy Efficiency Portfolio Standard (REPS) that mandates the company generate 12.5 percent of its retail sales in the state by renewable energy or energy efficiency programs by 2021.
The RFP is open to solar, wind, biomass, landfill gas and other facilities that qualify as a renewable energy resource under REPS requirements – excluding swine and poultry waste. Facilities must be located in the DEC service territory.
"We want to encourage market development of more renewable generation in the Duke Energy Carolinas system in the most competitive manner possible," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "This RFP gives developers the opportunity to either pursue projects themselves or sell current projects under development to Duke Energy."
The RFP calls for 750,000 megawatt-hours of renewable energy and associated renewable energy certificates (RECs) located in the DEC territory. A REC, equaling one megawatt-hour of renewable energy generation, demonstrates Duke Energy's compliance with the renewable energy mandate.
The 750,000 MWh figure is about what 400 MWs of solar capacity would generate in a year. When operating at peak capacity, it is enough to supply the energy needs of nearly 62,000 residential houses.
Currently, about 75 percent of Duke Energy's owned and purchased solar generating capacity is in the Duke Energy Progress (DEP) territory.
"We are well ahead of our compliance in our Duke Energy Progress territory, and view this as an opportunity to bring more renewable energy to customers in other parts of the state," said Caldwell.
Interested bidders must already be in the DEC interconnection queue, which includes renewable projects already proposed in the region.
The RFP allows bidders the flexibility to offer three options:
Proposed projects must be in operation by Dec. 31, 2018.
In a related announcement today, DEC is also seeking to buy RECs from existing facilities in its service territory. These would be existing renewable projects for which Duke Energy does not already purchase the RECs. The RECs must come from facilities in the DEC territory and must be in operation by the end of 2016.
More information about the RFP can be viewed here.
Overall, Duke Energy companies, both regulated and commercial, have installed about 450 MWs of solar energy in North Carolina – around 35 solar plants total. The company also purchases more than 1,300 MWs of solar capacity from other developers. Overall, this has contributed to North Carolina's ranking as No. 2 in the nation for overall solar power.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
10/24/201610/19/2016 - Piedmont Natural Gas advises customers on storm-related damage to meters and appliances
Piedmont Natural Gas advises customers on storm-related damage to meters and appliances
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 19, 2016 /PRNewswire/ -- Piedmont Natural Gas today advised customers that Piedmont crews will be canvassing neighborhoods in flood impacted areas to inspect natural gas meters for signs of submersion from flooding caused by Hurricane Matthew. Any meter believed to have been submerged will be removed and natural gas service to the home or business will be turned off.
Customers whose natural gas service is turned off will be notified, and natural gas appliances in the home or business will need to be inspected for safe operation by a licensed contractor before service can be restored. Customers are advised that appliances may need to be replaced if an inspection finds they have been damaged by flood waters and cannot operate safely.
"Safety continues to be our top priority as we deal with the aftermath of hurricane Matthew," said Frank Yoho, executive vice president and president, natural gas business for Piedmont Natural Gas. "Although our natural gas pipeline delivery system was relatively undamaged by the storm, we know many of our customers in eastern North Carolina and South Carolina are dealing with incredible destruction and loss of property. The continued safe and reliable operation of our natural gas system is an important piece in helping our customers and the communities we serve in these areas to recover and rebuild."
To help ensure the continued safe and reliable operation of natural gas service to customers and communities impacted by Matthew, Piedmont asks anyone affected by the storm to please follow these guidelines:
If water has entered your home:
If your natural gas appliances are damaged by water:
If you suspect a natural gas leak (natural gas smells like rotten eggs):
Customers with immediate questions or concerns should call Piedmont Natural Gas at 1.800.752.7504. Additionally, customers can also visit the company's website at www.piedmontng.com for additional information and storm related updates.
Piedmont Natural Gas
Piedmont Natural Gas, a subsidiary of Duke Energy, is an energy services company primarily engaged in the distribution of natural gas to more than 1 million residential, commercial, industrial and power generation customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers. Its subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available at www.piedmontng.com.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
|
Media Contacts | |
|
David Trusty |
Loree Elswick |
|
Piedmont Natural Gas |
Piedmont Natural Gas |
|
(704) 731-4391 |
(704) 731-4236 |
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SOURCE Piedmont Natural Gas
Article Date
10/19/2016Duke Energy update on H.F. Lee Power Plant in Goldsboro, N.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GOLDSBORO, N.C., Oct. 15, 2016 /PRNewswire/ -- Site inspections at the H.F. Lee Power Plant in Goldsboro, N.C., today confirm there was only very minor erosion of material from an inactive coal ash basin on the site.
The majority of that material, which includes coal ash, remained very close to the inactive basin, on the berm or a few feet away on the basin roadway.
The state team that inspected the facility determined that the amount of material that was displaced would not even fill the bed of an average pickup truck.
Water samples taken on Oct. 12, just downstream of the inactive basins, showed no measurable ash-related constituents in the Neuse River.
The inactive basins have well-established cover – including organic material, grass, shrubs and trees – and have performed as expected in the aftermath of Hurricane Matthew with minimal erosion.
Click here to see examples of the minor erosion observed in the inactive basin, as well as other images taken at the facility in the past few days.
Because some water remains in the cooling pond, the H.F. Lee natural gas plant can operate, if needed, to serve customers.
State inspections today also determined that the active coal ash basin continues to perform well as flood waters recede. In recent months, the company made enhancements to the structure, including a covering of rip rap (rocks).
Duke Energy engineers and environmental experts will continue to closely inspect and monitor the H.F. Lee facilities as the flood waters recede.
In June 2015, the company recommended excavation of ash because of potential flooding at the facility. That is now a requirement under North Carolina's coal ash management law and that work is to be completed by Aug. 1, 2028.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/15/2016Duke Energy update on H.F. Lee Power Plant in Goldsboro, N.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GOLDSBORO, N.C., Oct. 14, 2016 /PRNewswire/ -- As we have been communicating for several days, historically high flood waters in the Neuse River have covered three inactive coal ash basins at the H.F. Lee Power Plant in Goldsboro, N.C.
Today, engineers confirmed that some material, including coal ash, eroded and was carried by flood waters outside one of the berms of an inactive basin.
Water samples taken by the company on Oct. 12, just downstream of the inactive basins, were received today and do not show the presence of measurable ash-related constituents in the Neuse River.
Because the inactive basins have well-established cover – including organic material, grass, shrubs and trees – they have performed as expected in the aftermath of Hurricane Matthew.
As flood waters continue to recede, engineers and environmental experts will continue to closely inspect the inactive basins and will be able to better assess the amount of material that was displaced.
Out of an abundance of caution, the company notified appropriate regulators of the observations today.
In June 2015, the company recommended excavation of ash because of potential flooding at the facility. That is now a requirement under North Carolina's coal ash management law and that work is to be completed by 2028.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/14/2016Duke Energy reports 96 percent of Hurricane Matthew outages restored; those who can receive power will be restored by Saturday night
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 14, 2016 /PRNewswire/ -- Less than 30,000 power outages remain Friday as Duke Energy crews continue to restore power to the roughly 1.5 million customers affected by Hurricane Matthew.
Except in flooded areas, remaining customers should have power restored by Saturday night. However, it could be days or weeks before about 13,000 customers in flooded areas are fully restored since power restoration crews have been unable to access damaged electrical lines and equipment.
"We are entering a new phase in restoring power - one that will be dictated by events out of our control. But we will continue working just as hard," said Bobby Simpson, who is overseeing Duke Energy's restoration efforts. "We are in this for the long haul. We have the personnel and equipment, and we will be in these communities until every last customer who can receive power has power."
Among the most flooded areas: Clinton, Goldsboro, Kinston and Lumberton in North Carolina; and Florence, Hartsville and Marion in South Carolina.
"Our commitment is steadfast for staying engaged with our customers in flooded communities," he added. "We are working with state and local officials in developing plans to restore service as safety and quickly as possible once waters recede and homes are habitable."
Although nearly 1.5 million customers were affected, the peak time for outages was Sunday morning Oct. 9 at 680,000 outages.
In terms of outages, Hurricane Matthew is the fifth-worst storm to hit the combined Duke Energy Carolinas/Duke Energy Progress service area – with damage similar in scale and severity to past storms such as Hurricane Floyd in 1999 and Hurricane Hugo in 1989.
Thursday, Duke Energy donated $325,000 to help seven charities providing disaster relief assistance in several of the states it serves – North Carolina, South Carolina and Florida.
Meter-box damage
Customers whose homes have damaged meter boxes will need to get them repaired and inspected to avoid delays in restoration. Here's a video explaining meter-box damage.
If a customer's meter box is pulled away from the house, and the house is without power, the homeowner is responsible for contacting an electrician for a permanent fix. An electrical inspection may be required before Duke Energy can reconnect service.
If the meter box is pulled away from the house and the house still has power, the customer should call an electrician to re-attach the meter box.
If your residence or business is flooded, a local building inspector may need to inspect the structure before power can be reconnected.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/14/2016Duke Energy sets company record pace - restoring nearly 1.4 million customers following Hurricane Matthew devastation, destruction in Carolinas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 13, 2016 /PRNewswire/ -- Since the weekend, Duke Energy crews have reduced the number of customer outages caused by Hurricane Matthew from roughly 1.4 million to fewer than 60,000 – a company record pace for restorations in similar storms.
According to National Oceanic and Atmospheric Administration, flood waters in the hardest hit communities might not drop below flood stage for nine days.
Power restoration crews will be unable to access electrical lines and equipment until flood waters recede.
Those areas include: Clinton, Goldsboro, Kinston and Lumberton in North Carolina; and Florence, Hartsville and Marion in South Carolina.
"We share our customers' frustration and are grateful for their understanding," said Bobby Simpson, who is overseeing Duke Energy's restoration efforts. "We have the personnel, equipment and desire to bring everyone back on, but the hard reality is there are still areas that are literally under water. Water and electricity simply don't mix."
Simpson noted reports that some customers have tried to reconnect their own power, and he strongly urged against it.
"Please do not let this deadly storm take any more lives," he said. "The minute the water recedes, and it's safe for us to physically access those areas with our equipment, we'll be there."
At its peak, 680,000 Duke Energy customers were without power Sunday morning, Oct. 9.
In terms of outages, Hurricane Matthew is the fifth-worst storm to hit the combined Duke Energy Carolinas/Duke Energy Progress service area – with damage similar in scale and severity to past storms such as Hurricane Floyd in 1999 and Hurricane Hugo in 1989.
Meter-box damage
Customers whose homes have damaged meter boxes will need to get them repaired and inspected to avoid delays in restoration. Here's a video explaining meter-box damage.
If a customer's meter box is pulled away from the house, and the house is without power, the homeowner is responsible for contacting an electrician for a permanent fix. An electrical inspection may be required before Duke Energy can reconnect service.
If the meter box is pulled away from the house and the house still has power, the customer should call an electrician to re-attach the meter box.
If your residence or business is flooded, a local building inspector may need to inspect the structure before power can be reconnected.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Flooding and H.F. Lee Plant update
Ash basin dams at the company's Carolinas' facilities are operating safely and have not been affected by historic floods brought by Hurricane Matthew.
Flooding continues to subside near the retired Weatherspoon Plant in Lumberton, N.C. We expect to complete minor maintenance on the cooling pond dam following this high water event.
The Neuse River near the H.F. Lee Plant in Goldsboro, N.C., reached its record level at the plant yesterday morning, and is declining. A break in the cooling pond dam wall that occurred mid-day yesterday continues to release water from the cooling pond to the river. The event has caused very minimal impact to the already flooded river level. Engineers are finalizing a repair plan, and the company is positioning materials on plant property so crews can safely proceed with work once flooding subsides.
The company is monitoring conditions, and state regulators continue to support operations at both plants.
A diagram and photos are available here.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/13/2016Duke Energy donates $325,000 to disaster relief efforts in the Carolinas and Florida
Source: PR Newswire
CHARLOTTE, N.C., Oct. 13, 2016 /PRNewswire/ -- Although Hurricane Matthew is no longer a threat, the devastation it created continues to be felt by thousands of people in the Southeast. Duke Energy today announced a donation of $325,000 to help seven charities providing disaster relief assistance in several of the states it serves – North Carolina, South Carolina and Florida.
"While the men and women of Duke Energy have worked nonstop to restore power to customers in Florida and the Carolinas, we know our communities need more," said Lynn Good, chairman, president and CEO. "Disaster relief agencies are on the front lines helping families and communities recover and rebuild. We are glad to make this contribution to help support that good work."
North Carolina
Duke Energy is donating $100,000 to the Red Cross in North Carolina. Additionally, Piedmont Natural Gas is giving $25,000.
Both donations will go to disaster relief efforts in the state, including supporting more than 60 shelters the nonprofit has opened in the eastern region to provide refuge for North Carolinians affected by Hurricane Matthew.
"This financial support is instrumental in providing relief to the communities ravaged by Hurricane Matthew," said Tony Jeffreys, regional chief development officer, Red Cross Eastern North Carolina Region. "Duke Energy and Piedmont consistently step up to aid Red Cross relief efforts in the wake of natural disasters. We are grateful for their continued partnership."
South Carolina
Three organizations will receive donation assistance in South Carolina, totaling $100,000.
Duke Energy is donating $50,000 to the One SC Fund, which was established by Gov. Nikki Haley in November 2015 after flooding affected South Carolinians across the state. The fund is supporting nonprofit organizations providing relief and recovery assistance to those affected by Hurricane Matthew.
Red Cross South Carolina Region will receive $25,000 to help disaster relief efforts in the Pee Dee region in the northeast area of the state.
Harvest Hope Food Bank will receive $25,000, which will help increase the number of mobile food pantries available to individuals and families in the Pee Dee region who have been affected by the storm.
"Hundreds of people have experienced enormous losses to their homes and belongings due to Hurricane Matthew, and additional flooding is expected," said Denise Holland, CEO of Harvest Hope. "The gift from Duke Energy gives me confidence that we can respond quickly to provide needed food supplies to families in the Pee Dee area."
Florida
Three organizations will receive donation assistance in Florida, totaling $100,000.
Duke Energy will donate $50,000 to United Way of Volusia-Flagler Counties, both of which were significantly affected by the hurricane.
The Hispanic Business Initiative Fund of Florida will receive $25,000 to help rebuild businesses and economic development in Flagler and Volusia counties.
Heart of Florida United Way will also receive $25,000 for disaster relief efforts in central Florida.
"After the debris is cleared and damage assessed, central Floridians will continue to feel the residual effects of Hurricane Matthew," said Robert H. (Bob) Brown, president and CEO of Heart of Florida United Way. "We are grateful to Duke Energy to be able to provide needed relief to those who suffered the most significant damage."
About Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/13/2016Cooling pond at Duke Energy's H.F. Lee Plant breaks; minimal river impact expected
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 12, 2016 /PRNewswire/ -- A portion of the earthen cooling pond wall at the H.F. Lee Plant in Goldsboro, N.C., experienced a break in the early afternoon today following historic flooding this week from Hurricane Matthew.
The break, approximately 50 to 60 feet wide, is in the southeast corner of the cooling pond. The pond is about 545 acres and does not contain coal ash. The cooling pond is a man-made reservoir that was constructed to supply cooling water to power plants at the site. The active ash basin is not affected by this incident and continues to operate safely.
Based on the current flooded state of the Neuse River, this event is expected to have minimal impact, contributing less than an inch of water to the river. The hurricane brought 15 inches of rain to the area. A photo and aerial diagram are available.
The company is working closely with local emergency management and other officials.
"We are giving this our fullest attention," said Regis Repko, senior vice president of Fossil-Hydro Operations. "We are assessing what resources we need and will position repair materials so we can respond quickly once conditions are safe to do so."
The 920-megawatt natural gas combined cycle plant also continues to operate safely, and the company will evaluate continued plant operations. The energy complex also is home to five natural gas combustion turbines that can provide customers 863 megawatts. The 382-megawatt coal plant was retired in 2012.
As reported previously, flooding has caused the river to flow across three forested, inactive ash basins at the H.F. Lee site. Those basins normally are dry and do not impound water, and they do not pose a risk for a significant release of material.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/12/201610/12/2016 - Duke Energy outage numbers continue to drop; Carolinas' flooding impeding restoration efforts
Duke Energy outage numbers continue to drop; Carolinas' flooding impeding restoration efforts
Source: PR Newswire
CHARLOTTE, N.C., Oct. 12, 2016 /PRNewswire/ -- More than 10,000 people are working to restore power Wednesday to Duke Energy customers in the Carolinas in the aftermath of Hurricane Matthew.
About 115,000 customers remain without power – 65,000 in North Carolina and 50,000 in South Carolina. Extreme flooding in certain counties has hindered restoration.
"Until flood waters recede, we are unable to restore power to some areas," said Bobby Simpson, who is overseeing Duke Energy's restoration efforts. "Our focus is to continue to restore power in areas where we can access and work safely – and in communities where customers are in a position to receive electricity."
Simpson added extreme flooding will continue to hamper restoration in:
North Carolina – Areas surrounding Clinton, Goldsboro, Kinston and Lumberton
South Carolina – Areas surrounding Florence, Hartsville and Marion
More than one million customers in the Carolinas lost power as a result of Hurricane Matthew. At its peak, 680,000 Duke Energy customers were without power on Sunday morning Oct. 9.
The number of customers affected could continue to grow as specific rivers crest, potentially damaging more electrical equipment and causing additional outages.
In terms of outages, Hurricane Matthew is the fifth worst storm to hit the combined Duke Energy / Duke Energy Progress service area –with damage similar in scale to past storms like Hurricane Floyd in 1999 and Hurricane Hugo in 1989.
Duke Energy has posted estimated times of restoration on its website. Customers should understand those restoration times reflect the latest time a customer's power could be restored. However, as crews assess specific areas, these times may be improved. Customers can view the latest updates about specific outages by zooming in on their locations on the map.
Once crews restore power to a trouble spot, the company's systems indicate all power provided by that device is on. We are using calls and text messages to gather information to determine remaining outages down the line. If you receive a call or text, it means we are actively working in your area. Please respond if you are still without power. This will assist us in restoring your power as quickly as possible.
Sometimes, repair work will require us to de-energize portions of the energy grid to allow crews to work safely. This could result in repeat, but brief, power outages to customers.
Duke Energy's customer service centers have supplemented their ranks to assist customers who call to report outages and emergencies.
Customers can report outages and electrical emergencies, such as downed lines and poles, by calling Duke Energy's automated outage-reporting system for their specific service area:
Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with the customer's account.
Meter-box damage
Customers who have damaged meter boxes will need to get them repaired and inspected to avoid delays in restoration. Here's a video explaining meter-box damage.
If a customer's meter box is pulled away from the house and the house is without power, the homeowner is responsible for contacting an electrician for a permanent fix. An electrical inspection may be required before the company can reconnect service.
If the meter box is pulled away from the house and the house still has power, the customer should call an electrician to re-attach the meter box.
If your residence or business is flooded, a local building inspector may need to inspect the structure before power can be reconnected.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/12/201610/11/2016 - Duke Energy restores more than a million outages in the Carolinas; 235,000 customers still without power
Duke Energy restores more than a million outages in the Carolinas; 235,000 customers still without power
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 11, 2016 /PRNewswire/ -- Duke Energy has restored more than a million (924,000 in North Carolina and 180,000 in South Carolina) of the 1.36 million customers who lost power due to Hurricane Matthew.
The company has quadrupled its resources since storm preparations began (2,300 last week to nearly 9,000 this week). More than 1,500 additional resources are en route today.
Utility companies sending resources include Duke Energy Midwest and Florida, First Energy, CenterPoint Energy and Delaware Electric Coop.
States providing additional personnel include Delaware, New York, Nebraska, Maine, Indiana, Florida, Oklahoma, Iowa, Massachusetts and Pennsylvania. Canada has also sent personnel.
There were still 235,000 customers (158,000 in North Carolina and 77,000 in South Carolina) without power this morning.
The hardest hit counties include: Robeson, Bladen, Columbus, Pender, Duplin, Wayne, Johnston, Sampson, Harnett, Cumberland, Lenoir, Pitt, Greene, Craven and Beaufort.
In some of these areas, flood waters remain or continue to rise. It could be days before crews are able to access these areas to make repairs. Additionally, customers whose homes or meter boxes have sustained substantial damage will need to make repairs before we are able to restore service.
"At Duke Energy, our sole focus is to safely restore power for our customers as quickly as we can," said Lynn Good, Duke Energy chairman, president and CEO, who surveyed Hurricane Mathew's devastation first-hand in southern Wake County Monday.
"This is a very challenging time for all of us, and we appreciate the patience and understanding our customers have shown," she added. "This was an historic storm requiring a massive restoration effort."
Good also spent time at the company's Customer Care and Storm Response centers in Raleigh, speaking with employees and listening to their interaction with customers.
"People want us to know what they're going through, and we do," Good said. "That's why we've dedicated all available personnel to deal with this catastrophe, and contacted other agencies throughout much of the country and Canada to assist."
Duke Energy focuses on restoring power in a sequence that enables power restoration to public health and safety facilities and to the greatest number of customers as safely and quickly as possible, starting first with the larger transmission lines.
Matthew caused significant damage to Duke's transmission system:
Hurricane Matthew is the fifth worst storm to hit the combined Duke Energy / Duke Energy Progress service area. Some liken the storm's effects to Hurricane Floyd in 1999 and Hugo in 1989.
"We may continue to lose equipment due to rising flood waters, which could cause additional outages," said Bobby Simpson, who is overseeing Duke Energy's restoration efforts. "The good weather certainly helps our restoration effort, but rising flood waters continue to place additional challenges on us is some areas."
Duke Energy has posted estimated times of restoration on its website. Customers should understand those restoration times reflect the latest time a customer's power could be restored. However, as crews assess specific areas, these times may be improved.
Once crews restore power to a trouble spot, our systems indicate all power provided by that device is on. We are using calls and text messages to gather information to determine remaining outages down the line. If you receive a call or text, it means we are actively working in your area. Please respond if you are still without power. This will assist us in restoring your power as quickly as possible.
Duke Energy's customer service centers have supplemented their ranks to assist customers who call to report outages and emergencies.
Customers can report outages and electrical emergencies, such as downed lines and poles, by calling Duke Energy's automated outage-reporting system for their specific service area:
Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with the customer's account.
Flooding
Ash and cooling pond dams at our Carolinas' facilities continue to operate safely. Flooding continues to subside near the retired Weatherspoon Plant in Lumberton, N.C. The Neuse River near the H.F. Lee Plant in Goldsboro, N.C., continues to rise and is flowing into the plant's cooling pond. The Weatherspoon Plant ash basin and active ash basin at H.F. Lee Plant are not affected. The company is monitoring conditions, and state regulators continue to support operations at both plants.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/11/2016Duke Energy completes exit of international business in deals valued at $2.4 billion
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 10, 2016 /PRNewswire/ -- Duke Energy announced today it has reached an agreement to sell its international businesses in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina to I Squared Capital for approximately $1.2 billion enterprise value (cash and the assumption of debt). This represents the full remainder of the Latin American businesses Duke Energy is exiting.
The after-tax proceeds from the transaction are expected to be used to reduce Duke Energy holding company debt.
Earlier today, China Three Gorges Corporation agreed to acquire Duke Energy's 2,090-megawatt business in Brazil for $1.2 billion enterprise value.
"Our strategic transformation is gathering more momentum as we exit the Latin American market to focus on our domestic regulated core business, which was bolstered by our recent Piedmont Natural Gas acquisition," said Lynn Good, president, CEO and chairman of Duke Energy. "It's also a clear win for I Squared Capital and China Three Gorges Corporation, which are acquiring quality operations. We look forward to working with them to close the transactions."
The company began the process of exiting its International Energy business segment in February 2016.
The Duke Energy businesses I Squared Capital will acquire in Peru, Chile, Ecuador, Guatemala, El Salvador and Argentina include hydroelectric and natural gas generation plants, transmission infrastructure and natural gas processing facilities, totaling 2,300 MW.
I Squared Capital is an independent global infrastructure investment manager focusing on energy, utilities, and transport in the Americas, Europe and select high-growth economies. The company currently has approximately $4 billion of assets under management.
The I Squared Capital transaction requires Argentina antitrust approval, however the approval is not a condition of closing.
For a map and brief description of Duke Energy International's operations and power plant locations, see https://www.duke-energy.com/about-us/businesses/international.asp
As planned, Duke Energy's 25 percent equity investment in National Methanol Company, a Saudi Arabian regional producer of methanol and methyl tertiary butyl ether (MTBE), a gasoline additive, is not included in either the I Squared Capital or the China Three Gorges Corporation sale.
Duke Energy's financial advisors are Credit Suisse and J.P. Morgan. Skadden, Arps, Slate, Meagher & Flom LLP is the company's legal advisor.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; the ability to successfully integrate the businesses of and realize anticipated benefits related to the acquistion of Piedmont Natural Gas Company, Inc. (Piedmont) and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the likelihood of completion and expected timing of the transaction with China Three Gorges Corporation, including the timing, receipt and terms and conditions of the required governmental and regulatory approvals of the proposed transaction that could reduce anticipated benefits or cause the parties to abandon the transaction; and the likelihood of completion and expected timing of the transactions with I Squared Capital, including the timing, receipt and terms and conditions of the required governmental and regulatory approvals of the proposed transactions that could reduce anticipated benefits or cause the parties to abandon the transaction.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact:Tammie McGee
800.559.3853
Analysts contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
10/10/201610/10/2016 - Duke Energy Florida crews restore nearly 300,000 customers; aim for full restoration tonight
Duke Energy Florida crews restore nearly 300,000 customers; aim for full restoration tonight
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Oct. 10, 2016 /PRNewswire/ -- More than 3,500 Duke Energy linemen, contractors and support staff worked 16-hour days throughout the weekend restoring power to Florida customers and responding to 911 assistance calls in the aftermath of Hurricane Matthew.
Their efforts resulted in the restoration of nearly 300,000 customers in less than 72 hours since the storm exited the company's service territory. As of 2 p.m., approximately 8,500 customers were without electricity, mostly in areas of Volusia County where the electric system was severely impacted.
Electrical service was restored to customers in Orange and Seminole counties, and the majority of Lake and Volusia County by midnight Sunday night. Other storm impacted customers were restored earlier.
The goal is to have all customers impacted by the storm, who can receive power, restored before midnight tonight. Crews will continue to work until all service is restored.
Unfortunately, service may be delayed for some customers where a meter or other customer equipment is damaged and requires repair and an inspection.
The peak number of outages was at 2 p.m. on Friday, Oct. 7, with 165,000 customers without power as the storm crawled up the Florida coast.
"As our crews and contractors work to restore power to the last of our Florida customers who were affected by Hurricane Matthew, I'd like to express my appreciation for the patience and understanding our customers have shown," said Luis Ordaz, Duke Energy Florida storm director. "Despite challenges our crews sometimes encounter during the process, we always work as quickly and as safely as possible to restore power following storm damage."
Duke Energy Florida is developing plans to release line and vegetation management crews so they can respond to the massive devastation Hurricane Matthew left behind in the Carolinas.
As crews work individual outages, Duke Energy Florida will be able to provide updated restoration information. Please check www.duke-energy.com\outagemap or text STATUS to 57801 for updates as they become available. Customers may also call the Customer Care Center at 800.700.8744 for individual restoration times.
If your electric service is out and your neighbors have power, you may have a blown fuse or tripped a circuit at your home. If the fuse blows or circuit breaker trips again after being reset, you may need assistance from a licensed electrician. Customers who have had damage to electrical equipment on their property may also need an electrician's assistance.
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy Florida has invested more than $640 million over the last five years and nearly $1.4 billion since 2004 maintaining and strengthening its energy delivery system. These investments include trimming trees, replacing wood transmission structures with steel or concrete and installing grid automation and Smart Grid devices which help to improve service reliability and reduce both the length and number of outages.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
10/10/201610/10/2016 - Duke Energy restores nearly 825,000 outages in North Carolina and South Carolina in the past 48 hours
Duke Energy restores nearly 825,000 outages in North Carolina and South Carolina in the past 48 hours
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 10, 2016 /PRNewswire/ -- Duke Energy's success in making restorations is being tempered by the desire to have all customers restored as quickly and safely as possible.
Roughly 1.2 million customers were affected by Hurricane Matthew. In the past 48 hours, Duke Energy has restored about 825,000 outages.
There are around 430,000 outages remaining, with 308,000 in North Carolina and 122,000 in South Carolina.
With almost 7,000 crews making repairs, the company has called for additional assistance and that number could come close to doubling in the next day or so. Help has come from as far away as Canada.
Sometimes it's hard to comprehend how there can be so many outages when the weather is beautiful.
But here is a summary of Hurricane Matthew's legacy:
"I understand what folks are feeling," said Bobby Simpson, who is overseeing Duke Energy's restoration efforts. "Normally our crews are battling the elements as they're trying to replace poles and transformers and restring circuits. Today the sun was shining as they climbed into their trucks. But they only had to drive a mile or two down the road to be back in the middle of an environmental war zone."
Duke Energy has posted estimated times of restoration on its website today. Customers should understand those restoration times reflect the latest time a customer's power could be restored. However, as crews assess specific areas, these times may be improved.
However, customers in some of the hardest-hit counties might be without power all week.
In some areas, the damage seen is on a scale similar to the destruction of Hurricanes Hugo and Floyd.
Duke Energy's customer service centers have supplemented their ranks to assist customers who call to report outages and emergencies.
Customers can report outages and electrical emergencies, such as downed lines and poles, by calling Duke Energy's automated outage-reporting system for their specific service area:
Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with the customer's account.
Flooding
Ash and cooling pond dams in the Carolinas continue to operate safely. Flooding is beginning to subside near the retired Weatherspoon Plant in Lumberton, N.C. The Neuse River near the H.F. Lee Plant in Goldsboro, N.C., continues to rise and may flow into the plant's cooling pond later today. The Weatherspoon Plant ash basin and active ash basin at H.F. Lee Plant are not affected. State regulators continue to support operations at both plants.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
10/10/201610/10/2016 - Duke Energy to sell its Brazilian business to China Three Gorges Corporation for $1.2 billion enterprise value
Duke Energy to sell its Brazilian business to China Three Gorges Corporation for $1.2 billion enterprise value
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 10, 2016 /PRNewswire/ -- Duke Energy announced today it has reached an agreement to sell its holdings in Brazil to China Three Gorges Corporation (CTG) for approximately $1.2 billion in cash and the assumption of debt. The after-tax proceeds from the transaction are expected to be used to reduce Duke Energy holding company debt.
"This is another important step forward in driving our strategy to focus on our core domestic regulated business, and it builds on our recent acquisition of Piedmont Natural Gas," said Lynn Good, president, CEO and chairman of Duke Energy. "We will work with the buyer to obtain the approvals necessary to close the transaction while continuing to safely operate the Latin American plants.
"We are also moving through the process of negotiating a sale of our remaining assets in Central and South America with the expectation of an additional announcement to follow," Good added.
The company began the process of exiting its International Energy business segment in February 2016. Duke Energy International owns 4,400 megawatts (MW) of power generation facilities and engages in sales and marketing of electric power, natural gas and natural gas liquids in Central and South America.
CTG is a clean energy group focused on large-scale hydropower development and operation. CTG is also engaged in renewable energy businesses including wind and solar power. Present in 40 countries, CTG is the world´s largest producer of hydroelectric power with an installed capacity of about 100 gigawatts, both under operation and construction.
The completion of the transaction is conditioned on approvals in Brazil from the National Agency of Electrical Energy (Agência Nacional de Energia Elétrica) and the Brazilian Antitrust Agency (Conselho Administrativo de Defesa Economica) and the required approvals by Chinese authorities and other conditions precedent. Closing is expected to occur in two to four months.
Duke Energy Brazil owns 2,090 megawatts of power generation facilities. It has eight hydroelectric plants with 2,057 megawatts of capacity located on the border between the states of Sao Paulo and Parana and owns two small hydroelectric plants, each with a capacity of 16.5 megawatts, located on the Sapucai Mirim River in northern Sao Paulo State.
For a map and brief description of Duke Energy International's operations and power plant locations, see https://www.duke-energy.com/about-us/businesses/international.asp
Duke Energy's financial advisors are Credit Suisse and J.P. Morgan. Skadden, Arps, Slate, Meagher & Flom LLP is the company's legal advisor.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; the ability to successfully integrate the businesses of and realize anticipated benefits related to the acquisition of Piedmont Natural Gas Company, Inc. (Piedmont) and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; the likelihood of completion and expected timing of the transaction with China Three Gorges Corporation, including the timing, receipt and terms and conditions of the required governmental and regulatory approvals of the proposed transaction that could reduce anticipated benefits or cause the parties to abandon the transaction; and the likelihood, terms and timing of the potential sale of Duke Energy's remaining assets in Central and South America could change the presentation of certain assets, liabilities and results of operations as assets held for sale, liabilities associated with assets held for sale, and discontinued operations, respectively.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Tammie McGee
800.559.3853
Analysts contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
10/10/201610/10/2016 - Duke Energy estimates power restoration times for Carolinas customers in aftermath of Hurricane Matthew
Duke Energy estimates power restoration times for Carolinas customers in aftermath of Hurricane Matthew
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 9, 2016 /PRNewswire/ -- Power has been restored to more than 600,000 Duke Energy customers in the aftermath of Hurricane Matthew over the weekend.
Over 550,000 customers are without power now. In North Carolina, 410,000 customers are without power. In South Carolina: 140,000 customers.
The peak time for outages was 8 a.m. Sunday when 680,000 customers were without power simultaneously.
Duke Energy posted estimated times of restoration on its website today. Customers in some of the hardest-hit counties might be without power all week. High water in many areas have prevented access and restoration in the hardest-hit area – in addition to flooding electrical facilities.
"Flooding, downed trees and power lines have resulted in major power outages to our region, and we have discovered more than 800 broken poles and miles of downed lines – and still counting," said Duke Energy storm director Bobby Simpson. "We appreciate our customers' patience as we work to restore outages as quickly and safely as possible.
"Our estimated restoration times reflect the latest time a customer's power could be restored," added Simpson. "However, as crews assess specific areas, these times may be improved."
In some areas, the damage seen is on a scale similar to the destruction of Hurricanes Hugo and Floyd. Duke Energy crews have made progress in the past 24 hours and restored power to more than 600,000 customers.
To maximize its effort, Duke Energy has:
Duke Energy has about 5,800 line workers, tree crews, damage assessors and support people in the field. These numbers will continue to increase as additional assistance arrives – some from as far away as Canada.
Duke Energy's customer service centers have supplemented their ranks to assist customers who call to report outages and emergencies.
Customers can report outages and electrical emergencies, such as downed lines and poles, by calling Duke Energy's automated outage-reporting system for their specific service area:
Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with the customer's account.
Flooding
Due to flooding, Duke Energy personnel have completed required dam inspections at its power plants in the Carolinas. All dams are operating safely with no issues identified.
Severe flooding near the Weatherspoon Plant in Lumberton, N.C., has caused a nearby creek to rise and flow into the retired plant's cooling pond. This inflow from the creek is causing storm water to flow from the cooling pond into the Lumber River and through our permitted outfall. The ash basin was not affected, and the cooling pond dam remains stable.
We also are monitoring the Neuse River near the H.F. Lee Plant in Goldsboro, N.C., and the National Weather Service predicts it will continue to rise. This has caused the river to flow across three wooded, inactive ash basins and may cause the river to flow into the cooling pond. The active ash basin is not affected. State regulators have participated in site inspections at both plants.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/10/2016Hurricane Matthew's damage exceeds projections in the Carolinas; Duke Energy to rebuild sections of its system
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 9, 2016 /PRNewswire/ -- Hurricane Matthew has left large portions of the Carolinas more heavily damaged than projected, on a scale similar to the destruction of Hurricanes Hugo and Floyd. In some Duke Energy service areas, the electrical system will need to be rebuilt.
Duke Energy is reporting 660,000 outages in the Carolinas.
In areas where the storm has cleared, Duke Energy crews have made progress and restored power to more than 400,000 customers. However, it could take up to a week to complete restorations. Specific estimated times of restoration will be posted on the Duke Energy website later today. To maximize its effort, Duke Energy has:
"It's very hazardous out there, and conditions aren't going to improve quickly," said Bobby Simpson, Duke Energy's storm director. "We are asking folks to be safe and be patient. The sun may be out today, but it doesn't mean everything is ok. We're looking at a long, difficult road to recovery."
Duke Energy has about 5,600 line workers, tree crews, damage assessors and support people in the field. These numbers will continue to increase as additional assistance arrives.
The first step of storm restoration is damage assessment. This will not only involve ground crews, but six aerial surveillance helicopters. For a better understanding, and to check on outages, go to www.duke-energy.com/matthew
Duke Energy's customer services has supplemented its ranks to assist customers who call to report outages and emergencies.
Customers can report outages and electrical emergencies, such as downed lines and poles, by calling Duke Energy's automated outage-reporting system for their specific service area:
Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with the customer's account.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
(Note: images of the devastated areas will be available later today.)
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
10/9/2016Duke Energy Florida restores more than 233,000 customers in less than 48 hours since Hurricane Matthew's exit from its service territory
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Oct. 9, 2016 /PRNewswire/ -- Duke Energy crews and contractors are working 16-hour days and overnight hours to restore power to Florida customers and responding to 911 assistance calls in the aftermath of Hurricane Matthew.
The massive Category 4 storm's damage was felt from Florida's Atlantic Coast all the way across Central Florida.
More than 233,000 customers have been restored in less than 48 hours since the storm exited the company's service territory. As of noon, approximately 47,500 customers were without electricity. The vast majority of those are in Volusia County. More than 80 percent of the company's customers impacted by the storm have been restored.
Although many will be restored earlier, the goal is to have all customers impacted by the storm, who can receive power, restored before midnight tonight (Sunday). Restoration in the most severely impacted areas of Volusia County may continue into Monday.
"More than 3,500 crews, contractors and support workers continue to work around-the-clock to restore power and respond to emergency assistance calls since the storm passed. We've brought in additional resources to get customers back to normal as safely and quickly as possible," said Luis Ordaz, Duke Energy Florida storm director. "We appreciate the patience of our customers while we work through the storm damage."
Crews will continue to work on scattered and isolated outages until all service is restored. Occasionally, service may be delayed for customers where a meter or other customer equipment is damaged and requires repair and inspection.
As crews respond to make repairs and restore service, specific estimated times of restoration will be updated for customers. Customers are encouraged to sign up for text message updates (text REG to 57801) or call the Customer Care Center at 800.700.8744 for individual restoration times, as they become available.
The peak number of outages was at 2 p.m. on Friday, Oct. 7, with 165,000 customers without power as the storm crawled up the Florida coast.
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
Duke Energy Florida has invested more than $2.4 billion since 2004 maintaining and strengthening its energy system. These investments include trimming trees, replacing wood transmission structures with steel or concrete and installing grid automation and Smart Grid devices which help to improve service reliability and reduce both the length and number of outages.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Suzanne Grant
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/9/2016In the wake of Matthew, Duke Energy Florida crews work to restore normalcy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Oct. 8, 2016 /PRNewswire/ -- Duke Energy Florida is making significant progress restoring electric service following the devastation of Hurricane Matthew, a Category 4 storm that brought heavy rain and wind to Florida.
More than 3,500 line and vegetation personnel, damage assessors and support personnel are involved in outage restoration efforts. Resources are strategically positioned in Orange, Seminole and Volusia counties. To date, the company has restored more than 166,000 customer outages.
The company expects to complete power restoration to all customers in Orange, Seminole and Volusia counties by midnight Sunday.
Restoration in the most severely impacted areas of Volusia County may continue into Monday.
All other Hurricane Matthew-impacted customers either have been restored or will be restored by end of day today.
Crews will continue to work on scattered and isolated outages until all service is restored. In some cases, service may be delayed for customers where meter or other customer equipment is damaged and requires repair an inspection. As crews respond to make repairs and restore service, specific estimated times of restoration will be updated for customers.
For Customer Outage Reporting/Customer Service (24-hour), call 800.228.8485
"We thank our customers for their patience as our crews work to restore service. We have the necessary resources and personnel to get our customers restored in the most efficient manner possible," said Luis Ordaz, storm director, Duke Energy – Florida. "We have brought in additional line and tree crews and are working tirelessly to get power restored."
Duke Energy restoration plans first focus on essential services, such as hospitals, fire and police station first. Then crews begin working on fixing outages impacting the largest number of customers in the shortest amount of time. From there, they restore smaller areas and neighborhoods, working the hardest-hit areas until every customer's power is on.
When a storm-related outage is reported, where customers live or the status of accounts don't factor into restoration plans.
"If you see a crew in your area that appears to pass you, it may be we must complete work at another location in order to restore electric service to your home or business," Ordaz said. "For example, one residential street may be fed by two main power lines on different substations.
Safety
Hazardous conditions remain in many places. Company officials emphasize the most important thing customers can do is to focus on safety. In addition, to ensure your safety and the safety of our crews, please refrain from approaching workers as they restore service in the community.
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy.
If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
The first step of storm restoration is damage assessment. During this process, estimate restoration times are not available. For a better understanding, and to check on outages, go to Duke Energy Florida's web page.
Duke Energy is a member of a mutual assistance organization and has agreements with utility contractors to ensure the necessary resources can be brought to Florida from throughout the southeast. Duke Energy also provides assistance when storms affect other utilities in other parts of the country.
Outage reporting and status updates
At any time, customers without power can report their outage by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/8/2016In the Carolinas, Matthew weakens but remains dangerous; Duke Energy bulks up
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 8, 2016 /PRNewswire/ -- Although Hurricane Matthew has been downgraded to Category 1 as it soaks the Carolinas, outage numbers are climbing and the potential for damage remains significant. The storm will continue to bring heavy rains and high winds to the Carolinas today before exiting on Sunday.
Duke Energy has continued to bolster its restoration army, now totaling about 5,600 line workers, tree crews, damage assessors and support people to respond to outages.
"No matter how much we prepare, the destruction from this significant weather event can be extensive, resulting in power outages that may last a considerable amount of time," said Bobby Simpson, Duke Energy's storm director. "In some of the harder hit areas, we expect to have to rebuild portions of our system before we can restore power, and that takes time.
"We ask our customers to stay safe and be patient," he added. "Tomorrow may be a bright, sunny day, but that won't erase the damage being done day."
The first step of storm restoration is damage assessment. Damage assessors will begin evaluating system damage as soon as it is safe to do so. During this process, estimated restoration times are not available. For a better understanding, and to check on outages, go to www.duke-energy.com/matthew
As soon as the storm passes and wind speeds drop below 39 miles per hour making it safe for travel, line crews will begin repairs.
For safety reasons, Duke Energy line technicians cannot perform elevated work in bucket trucks when winds are above 30 miles per hour.
Duke Energy's customer services has also supplemented its ranks to assist customers who call to report outages and emergencies.
Customers can report outages and electrical emergencies, such as downed lines and poles, by calling Duke Energy's automated outage-reporting system for their specific service area:
Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with the customer's account.
Safety
Duke Energy urges everyone to be safe during this challenging time. Please follow these important tips:
Important Reminders
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Line (24-hour): 800.559.3853
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SOURCE Duke Energy
Article Date
10/8/2016Duke Energy Florida assessing damage and repairing outages from Hurricane Matthew
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Oct. 7, 2016 /PRNewswire/ -- Duke Energy Florida has damage assessments and restoration efforts underway in the heaviest hit parts of its service area as Hurricane Matthew slowly exits the state. Restorations are largely complete in Polk, Highlands and Hardee counties.
As of 3 p.m., 162,800 customers, mostly in Orange, Seminole, Volusia and Lake counties were still without power. More than 38,000 customers in the state have already been restored.
However, the company anticipates more outages will be reported as outer bands of the storm continue to bring heavy wind and rain to the Duke Energy service territory.
Crews in Central Florida, where communities saw the heaviest rains and 100-mile-an-hour-plus winds, are making restorations, but in a few areas, efforts are being hampered by the continuing hazardous weather conditions.
"We will work as quickly and safely as possible," said Luis Ordaz, storm director, Duke Energy – Florida. "We have the personnel and equipment in place. Damage assessors will help us provide reliable restoration times for customers and restore service in those areas able to receive service."
More than 2,200 line and vegetation personnel are on the ground and an additional 170 Duke Energy crews will be arriving from the Midwest.
Company officials said the most important thing customers can do at this point is focus on safety and to check on family members and neighbors who are elderly or have special medical needs.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
The first step of storm restoration is damage assessment. During this process, estimate restoration times are not available. For a better understanding, and to check on outages, go to Duke Energy Florida's web page.
Duke Energy is a member of a mutual assistance organization and has agreements with utility contractors to ensure the necessary resources can be brought to Florida from throughout the southeast. These resources include linemen, vegetation management and damage assessment personnel. Duke Energy also provides assistance when storms affect other utilities in other parts of the country.
Outage reporting and status updates
At any time, customers without power can report their outage by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Suzanne Grant
Office: 727.271.7325
24-Hour: 800.559.3853
Twitter: @DE_SuzanneG
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SOURCE Duke Energy
Article Date
10/7/2016In the Carolinas, Duke Energy mobilizes thousands of workers ahead of Hurricane Matthew; outages are expected for customers in the storm's path
Source: PR Newswire
CHARLOTTE, N.C., Oct. 7, 2016 /PRNewswire/ -- Hurricane Matthew could result in extensive damage and extended power outages so Duke Energy crews are on the move today to affected areas to be in place before the storm hits the Carolina coast.
"We have seen the devastation this storm has caused in the Caribbean and Florida so we have a pretty good idea what we're up against," said Bobby Simpson, Duke Energy's storm director. "With the rain and sustained winds coming with this storm, we know there will be significant power outages, particularly in the coastal and sandhills communities.
Customers in communities where the storm is expected to hit need to finalize plans now to stay safe. If you lose power, response crews will begin work AFTER the storm has exited the area and high waters and winds have subsided.
For employee safety, Duke Energy line technicians cannot perform elevated work in bucket trucks when winds are above 30 miles per hour.
About 4,660 line workers, tree crews, damage assessors and support people are ready to respond.
Also, the company is supplementing its customer services organization with employee volunteers – 400 a day – to assist customers who call to report outages and emergencies.
With the acquisition of Piedmont Natural Gas last week, the company is also training the Piedmont customer representatives to handle power outage calls.
Duke Energy has invested more than $2.7 billion in the Carolinas to harden and upgrade its power delivery system since the 2004. In addition to trimming trees and inspecting / replacing wood poles, the company has invested in grid automation and smart grid technologies, which improve service reliability and reduces the length and number of outages year-round. However, Hurricane Matthew is expected to result in considerable outages due to its intensity.
Company officials said the most important thing customers can do is focus on safety.
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy.
If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Important Reminders
Register for outage updates -- Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with your account. To stay informed of future power outages, sign up to receive power outage alerts from Duke Energy by texting REG to 57801 or choose from text, email or phone alerts by enrolling at duke-energy.com/OutageAlerts.
Know who to call -- Customers can report electrical emergencies such as downed lines and poles by calling Duke Energy's automated outage-reporting system for their specific service area:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
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SOURCE Duke Energy
Article Date
10/7/2016In the Carolinas, Duke Energy preparing for Hurricane Matthew's anticipated fury
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 6, 2016 /PRNewswire/ -- As Hurricane Matthew approaches the east coast of Florida, officials there are telling residents there will be power outages.
And, if people do not take proper precautions, there will be fatalities.
The storm, which has restrengthened to Category 4, with winds reaching around 140 miles per hour, continues to track toward the Carolinas and is expected to arrive Saturday.
Thousands of Duke Energy personnel are being mobilized and are ready to respond.
"We've stocked our trucks and warehouses, completed our readiness plans based on Matthew's projected path, and coordinated with local, state and national emergency personnel to ensure we have the most optimized response," said Bobby Simpson, Duke Energy's Carolinas storm director. "You can't beat the forces of nature, but we will do everything we can to restore power as quickly and safely as possible."
As part of the company's preparation efforts, teams completed aerial inspections of the main transmission lines in the coastal North Carolina area to verify that trees were safely cleared away.
We've identified potential flood zones and trained workers on how to access alternate travel routes to reach damaged areas.
We've finalized resource plans and more than 2,300 line workers are prepared to descend on the communities where damage and outages occur.
The company today reiterated what customers should do in anticipation of Matthew.
Duke provides a free service that automatically provides registered customers with information about specific power outages, including estimated restoration times, cause of outage, Duke Energy crew status, and outage start and estimated end times, and number of customers affected.
As part of the program, customers can text OUT to 57801 to report an outage from their mobile phone. To stay informed of future power outages, customers sign up to receive power outage alerts from Duke Energy by texting REG to 57801 or choose from text, email or phone alerts by enrolling at: www.duke-energy.com/OutageAlerts.
For more information, visit: www.duke-energy.com/matthew
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Media Relations
24-Hour: 800.559.3853
Twitter: @DukeEnergy
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SOURCE Duke Energy
Article Date
10/6/2016Duke Energy Florida ready to respond to Hurricane Matthew; continues to closely monitor the deadly Category 4 storm
Source: PR Newswire
ST. PETERSBURG, Fla., Oct. 6, 2016 /PRNewswire/ -- Duke Energy Florida is mobilizing 2,150 linemen and vegetation personnel to safe locations, prepared to respond to outages once Hurricane Matthew reaches Florida. More crews can be added as needed.
Duke Energy is a member of a mutual assistance organization and has agreements with utility contractors to ensure the necessary resources can be brought to Florida from throughout the southeast. These resources include linemen, vegetation management and damage assessment personnel. Duke Energy also provides assistance when storms affect other utilities in other parts of the country.
"Due to the tremendous strength of the storm, our number one concern is the safety of our customers and crews," said Luis Ordaz, storm director, Duke Energy – Florida. "Matthew is a major storm capable of causing significant damage. As we prepare to respond, it's important our customers take Hurricane Matthew extremely seriously and ensure their families are safe."
In addition to making safety a priority, customers should also prepare for significant, widespread power outages. Despite extensive system improvements and rigorous tree trimming, strong winds, wind-blown debris and flooding can cause power outages. When outages occur for any reason, Duke Energy is committed to restoring power as safely and quickly as possible, while keeping customers informed throughout the process.
New technology investments prevent outages
Duke Energy Florida has invested nearly $2.4 billion to harden and upgrade its system since the 2004 hurricanes. In addition to trimming trees and replacing wood poles with steel or concrete, the company invested in grid automation and Smart Grid devices, which improve service reliability and reduce the length and number of outages year-round.
Following Hermine, the new Smart Grid technology prevented 25,000 Duke Energy Florida customers from outages – thwarting more than 3 million customer minutes of power interruptions during the storm. So far this year, grid automation prevented more than 10 million minutes of interruption. Today, more than 20 percent of all Duke Energy Florida customers benefit from the technology. The company continues to expand the investment and plans to have Smart Grid devices installed on lines serving 35 percent of customers by mid-2017.
Customers must get prepared
Customers are encouraged to develop their own hurricane plans and prepare in advance of a storm. Many homes may need to refresh supplies used last month during Hermine.
Outage reporting and status updates
At any time, customers without power can report their outage by:
For storm or power restoration updates, follow Duke Energy on Twitter (@DukeEnergy) and Facebook (Duke Energy).
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. It supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 813.928.7263
24-Hour: 800.559.3853
Twitter: @DE_AnaGibbs
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SOURCE Duke Energy
Article Date
10/6/2016Duke Energy to announce third quarter 2016 financial results Nov. 4
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 6, 2016 /PRNewswire/ -- Duke Energy will release its third quarter 2016 financial results at 7 a.m. ET on Friday, Nov. 4.
An earnings conference call for analysts is scheduled for 10 a.m. ET that day to discuss Duke Energy's financial performance for the quarter and provide other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-741-4253 in the United States or 719-325-4802 outside the United States. The confirmation code is 4938179. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Nov. 14, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 4938179. A replay and transcript also will be available by accessing the investors' section of the company's website.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
10/6/2016Duke Energy to recycle coal ash at Buck Steam Station in Salisbury
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 5, 2016 /PRNewswire/ -- Duke Energy today announced plans to remove coal ash from three basins at the Buck Steam Station in Salisbury, N.C., and safely recycle the valuable material for concrete.
"This important step forward provides certainty for neighbors about our closure plans and allows us to recycle more coal ash to benefit our customers and North Carolina's economy," said David Fountain, Duke Energy's North Carolina president.
Coal ash is a non-hazardous material created when coal is burned to produce electricity. Recycling is the only way to avoid permanent disposal of the material. However, much of the ash stored in basins has too much carbon to be used in concrete products. To make coal ash more suitable for recycling, Duke Energy is making additional, significant investments in technology designed to reprocess coal ash from basins.
North Carolina's coal ash law encourages even more recycling and requires the company to install three recycling units across the state, making 900,000 or more tons of material available each year. In 2015, Duke Energy recycled nearly two-thirds of the ash produced across its states.
Today's announcement is well ahead of state deadlines for announcing locations for recycling units. The locations for the second and third units are still being evaluated, and a decision is expected in the coming months. Next, the company will work with the North Carolina Department of Environmental Quality to acquire necessary permits and begin processing material.
Duke Energy's plan to remove and recycle ash at the Buck facility also addresses the issues in a federal citizen lawsuit brought by the Southern Environmental Law Center (SELC). Both Duke Energy and SELC will make the necessary court filings to dismiss that case.
"This is another important step forward on our path to advance ash basin closure at Buck and builds on our ongoing efforts to close all basins safely and responsibly," Fountain said.
Benefits of coal ash recycling
A recent evaluation conducted by the Electric Power Research Institute (EPRI) confirmed recycling ash for concrete as one of the most practical and proven uses of the material. The study examined well-established uses for ash, commercial beneficiation technologies and innovative technologies. It also helped identify locations for recycling units that are in close proximity to demand for the material, while also being compatible with the volume and type of ash at the sites.
More than half of the concrete produced in the United States contains coal ash because it makes roads, bridges and buildings more durable. Some of the world's most iconic and sustainable structures were built using coal ash, including One World Trade Center in New York City. For every ton of coal ash used as a replacement for portland cement in concrete, approximately 1 ton of greenhouse gas emissions is avoided. More information about Duke Energy's coal ash recycling efforts and the EPRI study is available at duke-energy.com/ash-management.
Safely closing ash basins
Duke Energy is making significant progress in safely closing all of its ash basins in ways that protect people, the environment and families' wallets. The company previously announced a number of closure plans that also comply with North Carolina's unique coal ash law.
B-roll footage of Buck's ash basin is available at: https://www.youtube.com/watch?v=jb86oYwLi8Q
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest, representing a population of approximately 24 million people. The company also distributes natural gas to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/5/2016Duke Energy makes power outage data available on mobile devices
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C. and ST. PETERSBURG, Fla., Oct. 5, 2016 /PRNewswire/ -- As Duke Energy prepares for the impact of Hurricane Matthew, customers can sign up for real-time power outage notification through their mobile devices.
The free service automatically provides registered customers with information about specific power outages, including estimated restoration times, cause of outage, Duke Energy crew status, and outage start and estimated end times, and number of customers affected.
As part of the program, customers can text OUT to 57801 to report an outage from their mobile phone. To stay informed of future power outages, customers sign up to receive power outage alerts from Duke Energy by texting REG to 57801 or choose from text, email or phone alerts by enrolling at: www.duke-energy.com/OutageAlerts.
Almost 1.4 million customers have signed up for the service so far.
"We're working hard to provide customers with real-time information so they can better plan their lives when impacted by a power outage," said Gayle Lanier, Duke Energy senior vice president of customer services. "We recognize being without power is inconvenient, and our goal is to keep our customers informed during an outage."
Today, Duke Energy's outage notification service received Chartwell's "2016 Best Practices Silver Award" at the organization's 2016 Customer Experience Conference in Orlando.
The program launched in Duke Energy Progress and Duke Energy Florida in August 2015, and in Duke Energy Carolinas, Duke Energy Indiana, Duke Energy Ohio and Duke Energy Kentucky in November 2015.
In preparation for Hurricane Matthew, Duke Energy recommends customers double-check their readiness for possible power outages:
Prepare emergency kits -- Check your supplies and be sure to have the following items in an easy-to-find location:
Charge all electronic devices -- Charge cell phones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information.
Determine alternative plans -- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Media Relations
24-Hour: 800.559.3853
Twitter: @DukeEnergy
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SOURCE Duke Energy
Article Date
10/5/2016Duke Energy meteorologists keeping a close eye on Hurricane Matthew
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 4, 2016 /PRNewswire/ -- Duke Energy meteorologists continue to monitor the movement of Hurricane Matthew and are developing up-to-the minute forecasts to help the company plan and prepare for potential impacts.
"The latest models show a shift to the west, which puts the storm on a direct path with the North Carolina coast late Friday into early Saturday," said Nick Keener, Duke Energy's lead meteorologist. "It's still too early to determine the exact path of the storm, but based on today's information, we are asking our power restoration employees to prepare to travel later this week."
Duke Energy has a detailed storm response plan. As part of our preparation for Hurricane Matthew, we are checking equipment, supplies and inventories to ensure we have adequate materials to make repairs and restore power outages.
"Staffing plans are underway," said Bobby Simpson, Duke Energy's storm director for the Carolinas. "Crews across the Carolinas, Midwest and Florida are preparing and are ready to move to wherever the storm may affect our customers."
Important Reminders
Prepare emergency kits -- Check your supplies and be sure to have the following items in an easy-to-find location:
Charge all electronic devices -- Charge cell phones, computers and other electronic devices in advance of the storm to stay connected to important safety and response information.
Determine alternative plans -- Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
Register for outage updates -- Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with your account. To stay informed of future power outages, sign up to receive power outage alerts from Duke Energy by texting REG to 57801 or choose from text, email or phone alerts by enrolling at duke-energy.com/OutageAlerts.
Know who to call -- Customers can report electrical emergencies such as downed lines and poles by calling Duke Energy's automated outage-reporting system for their specific service area:
Stay Connected -- Duke Energy offers a number of ways for customers to get information about outages and restoration efforts.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Contact: Corporate Communications
24 hour media line 800-559-3853
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SOURCE Duke Energy
Article Date
10/4/2016Duke Energy completes acquisition of Piedmont Natural Gas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Oct. 3, 2016 /PRNewswire/ -- Duke Energy has completed its acquisition of Piedmont Natural Gas, closing the transaction effective today.
Piedmont will retain its name and operate as a business unit of Duke Energy. Both companies are headquartered in Charlotte.
The acquisition will add Piedmont's 1 million natural gas customers to Duke Energy's existing customer base of 525,000 natural gas customers and 7.4 million electric customers.
"Uniting Duke Energy with Piedmont Natural Gas is a powerful combination for our customers and the communities we serve," said Lynn Good, chairman, president and CEO of Duke Energy.
Customers can continue to do business with both Piedmont and Duke Energy in the same way they have in the past. For example, there will be no immediate changes in customer service phone numbers, billing options or service request procedures.
Internally, Duke Energy will be working to integrate Piedmont's corporate functions – such as accounting, human resources and information technology – into Duke Energy's structure.
The North Carolina Utilities Commission last week approved the acquisition – the final regulatory ruling needed to complete the transaction.
The Tennessee Regulatory Authority and Piedmont's shareholders previously approved the transaction, and the United States Federal Trade Commission has already granted early termination of the waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act.
Click here for more information on the North Carolina Utilities Commission's recent approval of Duke Energy's acquisition of Piedmont Natural Gas and its customer benefits.
Click here for a fact sheet about Piedmont Natural Gas.
About Duke Energy
Duke Energy, one of the largest electric power holding companies in the United States, supplies and delivers electricity to approximately 7.4 million customers in the Southeast and Midwest representing a population of approximately 24 million people. The company also distributes natural gas services to more than 1.5 million customers in the Carolinas, Ohio, Kentucky and Tennessee. Its commercial and international businesses operate diverse power generation assets in North America and Latin America, including a growing renewable energy portfolio. Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Tom Williams
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
10/3/2016N.C. Utilities Commission approves Duke Energy's acquisition of Piedmont Natural Gas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 29, 2016 /PRNewswire/ -- The North Carolina Utilities Commission (NCUC) has approved Duke Energy's acquisition of Piedmont Natural Gas. Today's order is the final regulatory approval needed to close the transaction.
The transaction is expected to close Monday, Oct. 3.
"This combination provides clear benefits to our customers and the environment as we continue to expand our use of low-cost and clean natural gas and invest in pipelines," said Lynn Good, chairman, president and CEO of Duke Energy. "We have enjoyed an excellent relationship with Piedmont's team for years, and we are eager to welcome them to Duke Energy in the coming days."
The Tennessee Regulatory Authority and Piedmont's shareholders previously approved the transaction, and the United States Federal Trade Commission has already granted early termination of the waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act.
Duke Energy will acquire Piedmont – an energy services company primarily engaged in regulated natural gas distribution – for approximately $4.9 billion in cash and assumption of approximately $1.8 billion in Piedmont existing net debt, representing total enterprise value of approximately $6.7 billion.
The acquisition will add Piedmont's 1 million natural gas customers in North Carolina, South Carolina and Tennessee to Duke Energy's existing customer base of 525,000 natural gas customers and 7.4 million electric customers. Piedmont's Tennessee service territory represents a new addition to Duke Energy's footprint and includes the growing Metropolitan Nashville area and seven middle-Tennessee counties.
Piedmont will retain its name, operate as a business unit of Duke Energy and maintain its significant presence in Charlotte.
Among the benefits of the acquisition for North Carolina and South Carolina are:
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Tom Williams
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/29/20169/28/2016 - Duke Energy donates $100,000 to Unite Charlotte
Duke Energy donates $100,000 to Unite Charlotte
Source: PR Newswire
CHARLOTTE, N.C., Sept. 28, 2016 /PRNewswire/ -- Duke Energy today announced a donation of $100,000 to Unite Charlotte. This new community fund was established in response to the recent unrest in Charlotte and will support programs and organizations focused on community healing, rebuilding trust and creating opportunities, including work being done by the Charlotte-Mecklenburg Opportunity Task Force.
"Unite Charlotte is the latest example of businesses, nonprofits and civic organizations coming together for the benefit of the Charlotte community," said Lynn Good, chairman, president and CEO of Duke Energy. "Keeping our communities vibrant and strong is just as important to Duke Energy as keeping the lights on, and we are honored to do our part."
The Unite Charlotte fund will be housed at United Way of Central Carolinas and will be administered through a partnership with Foundation For The Carolinas. It will have an advisory committee consisting of leaders from the faith, education and business communities, as well as community-based organizations and donors.
The Charlotte-Mecklenburg Opportunity Task Force has been in existence for two years and has been examining the barriers to upward mobility and job opportunities, as well as discrimination in Charlotte.
"Beyond this donation, our employees and retirees are actively engaged in board leadership and other volunteerism efforts in the community," said Shawn Heath, president of the Duke Energy Foundation. "We are planning additional opportunities for our team to contribute to unity efforts across the city."
Donations from the Duke Energy Foundation are funded by shareholders.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Anne Sheffield
Office: 704.382.8063 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/28/2016Duke Energy offers Palmetto State teachers $200,000 for literacy, STEM projects
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., Sept. 26, 2016 /PRNewswire/ -- If you fund it, they will learn.
Duke Energy is partnering with DonorsChoose.org to help South Carolina teachers develop projects that enhance childhood literacy and foster a growing interest in science and technology fields.
Through a $200,000 matching gift, the Duke Energy Foundation is teaming up with teachers to turn these classroom projects into a reality.
Here is how it works:
"Our children are the future leaders of our communities, and it is imperative that we contribute to their success," said Clark Gillespy, Duke Energy's South Carolina state president. "By working with DonorsChoose.org, we can quickly get resources directly into the hands of the dedicated teachers who daily impact the lives of students across the state."
"We're deeply grateful for Duke Energy's support of South Carolina STEM and literacy projects," said Charles Best, founder of DonorsChoose.org. "So many local teachers will now have tools they need to teach and inspire our next generation of leaders."
Teachers can visit www.DonorsChoose.org/teachers to submit a project. Qualifying projects already posted to the site will automatically be eligible for Duke Energy's matching funds.
Parents and other members of the community can contribute to these projects through www.DonorsChoose.org and search projects by either school name or project category: STEM or literacy.
About the Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/26/2016Duke Energy to match $200,000 for STEM projects in Ohio and Kentucky classrooms
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Sept. 26, 2016 /PRNewswire/ -- Duke Energy is issuing a challenge: Donate toward a classroom learning project in Greater Cincinnati, and Duke Energy will match it – dollar-for-dollar.
The Classroom Crowdfunding Challenge is a partnership between the Duke Energy Foundation and DonorsChoose.org to help local public school teachers bring engaging science, technology, engineering and math (STEM) projects into their classrooms.
Here's how it works:
"Teachers are at the core of our communities, and some of the biggest influences in the lives of our children," said Jim Henning, president of Duke Energy Ohio and Kentucky. "We're challenging our community to join this crowdfunding campaign, and help teachers bring innovative STEM projects to life for their students."
Duke Energy's $200,000 commitment, along with crowdsourced funds, will bring $400,000 worth of STEM education projects to public schools in Greater Cincinnati.
"We're deeply grateful for Duke Energy's support of Ohio and Kentucky STEM projects," said Charles Best, founder of DonorsChoose.org. "So many local teachers will now have tools they need to teach and inspire our next generation of scientists and engineers."
Teachers can visit DonorsChoose.org/teachers to submit a project. Qualifying projects already posted to the site will automatically be eligible for Duke Energy's matching funds.
Parents and other members of the community can contribute to these projects by going to DonorsChoose.org and searching for projects by either school name or selecting the "Math and Science" project category.
About the Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs of the communities where its customers live and work. In 2015, the foundation provided more than $30 million in charitable gifts. The foundation's education focus spans kindergarten to career, particularly science, technology, engineering and math (STEM), early childhood literacy and workforce development. It also supports the environment and community impact initiatives, including arts and culture.
Duke Energy employees and retirees actively contribute to their communities as volunteers and leaders at a wide variety of nonprofit organizations. Duke Energy is committed to building on its legacy of community service. For more information, visit duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact:
Lee Freedman, 513.287.4152
24-hour: 704.382.1603
@DE_LeeF
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SOURCE Duke Energy
Article Date
9/26/20169/22/2016 - Duke Energy solar rebate program exceeding expectations in South Carolina one year after launch
Duke Energy solar rebate program exceeding expectations in South Carolina one year after launch
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., Sept. 22, 2016 /PRNewswire/ -- Almost one year after its launch, Duke Energy's Solar Rebate Program has paid almost $5 million in rebates to South Carolina customers who have invested in solar power at their residences or businesses.
The rebates help with the upfront cost of installing solar panels for customers – making the technology more accessible to the company's 730,000 customers in the state.
"The response to the rebate program has been fantastic," said Clark Gillespy, Duke Energy's South Carolina state president. "This shows our customers want options to help them participate in a sustainable solar energy marketplace."
Act 236, an omnibus solar bill passed by the South Carolina General Assembly in 2014, opened the door for Duke Energy to offer a variety of solar programs to customers.
With more than 30 megawatts-ac of solar power scheduled to come online already, Duke Energy is more than halfway to the 53-megawatt goal cited by the Act.
"The Duke Energy Solar Rebate Program has been great for customers in South Carolina," said Bruce Wood, owner of Sunstore Solar in Greer, S.C. "Where Act 236 helped make renewable energy more accessible, the Solar Rebate Program has helped make solar more affordable."
More than 750 residential customers and more than 35 business customers have applied for solar rebates. The rebate provides $1 per watt-dc for qualified residential customers who install systems up to 20 kilowatts-ac on their property; and for business customers who install systems up to 1 megawatt-ac on their property.
Once the program is fully subscribed, customers can continue to install solar power using tax credits through the state and federal government. Customers may also choose to use solar power on site through net metering.
More information about Duke Energy's solar programs in South Carolina can be found on the Duke Energy website.
Duke Energy is a national leader in solar energy, with more than 50 solar facilities in its fleet across seven states.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
SOURCE Duke Energy
Article Date
9/22/2016Atlantic Coast Pipeline Signs Construction Contract With Spring Ridge Constructors
Source: PR Newswire
RICHMOND, Va., Sept. 21, 2016 /PRNewswire/ -- Atlantic Coast Pipeline, LLC, which has proposed a 600-mile natural gas transmission pipeline to bring much-needed energy to Virginia and North Carolina, today announced it has signed a construction contract with Spring Ridge Constructors, LLC (SRC), a joint venture of leading natural gas pipeline construction companies. Comprised of Price Gregory International, Inc., a Quanta Services, Inc. (NYSE: PWR) company; U.S. Pipeline, Inc.; SMPC, LLC; and Rockford Corporation, a Primoris Services Corporation (NASDAQ: PRIM) company, the joint venture will serve as the Atlantic Coast Pipeline's lead construction contractor.
Pending approval by the Federal Energy Regulatory Commission (FERC), the Atlantic Coast Pipeline (ACP) would run from Harrison County, W.Va., southeast through Virginia with a lateral extension to Chesapeake, Va., and then south through eastern North Carolina to Robeson County. If approved, construction is scheduled to begin in the fall of 2017. According to economic impact studies conducted in 2015, the project's construction is expected to generate more than 17,000 jobs, $2.7 billion in total economic activity and $4.2 million in average annual tax revenue for cities and counties in the project area.
SRC was selected as the most-qualified contractor for the project after an extensive, competitive bidding process conducted by Atlantic Coast Pipeline, LLC. The four SRC companies account for a significant portion of the large-diameter natural gas pipeline construction spread capacity in the U.S.
"We are excited to work with SRC, which has assembled four of the nation's leading and most-qualified pipeline builders for this project," said Diane Leopold, president of Dominion Energy. "These companies have extensive experience in building large-scale, complex projects like the Atlantic Coast Pipeline, and their commitment to safe construction practices and best-in-class standards align with our expectations for the project."
"The selection of our lead construction contractor is another significant milestone for the Atlantic Coast Pipeline and represents one more step toward making this project a reality and securing the energy future of our region," Leopold added.
"SRC is pleased to have been selected by ACP as the constructor of this vital project which serves to strengthen the nation's energy infrastructure," said Dan Plume, SRC project director. "The members of SRC are aligned in purpose with the common goals of safe construction practices, a commitment to environmental stewardship and quality construction. The SRC team leads the industry with a combined 200 years of expertise and leadership in the construction of large diameter pipelines that encompass all regions and terrains across North America. We are also excited about the positive economic impact this project will have in communities across these three states, where SRC and its subcontractors expect to hire thousands of local workers and enlist the services of many local businesses."
In another significant milestone for the project, in early August FERC issued a Notice of Schedule, which established the timeline for the remainder of the project's federal environmental review process. Based on FERC's schedule, ACP expects to receive a FERC certificate in the late summer or fall of 2017, with construction beginning shortly thereafter. ACP anticipates completing construction and bringing the pipeline into service in late 2019. ACP is working with its contractors to evaluate the possibility of bringing on more crews and working on more simultaneous spreads in order to complete construction sooner. This analysis is expected to be finalized over the next few months.
Atlantic Coast Pipeline, LLC is composed of four major U.S. energy companies – Dominion, Duke Energy, Piedmont Natural Gas and Southern Company Gas. The joint venture partners plan to build and own the $4.5 billion-to-$5 billion pipeline, which would help meet the growing clean energy needs of Virginia and North Carolina by providing direct access to low-cost, abundant supplies of natural gas being produced in the nearby Marcellus and Utica shale basins of West Virginia, Pennsylvania and Ohio.
About Dominion
Dominion (NYSE: D) is one of the nation's largest producers and transporters of energy, with a portfolio of approximately 25,700 megawatts of generation, 14,400 miles of natural gas transmission, gathering and storage pipeline, and 6,500 miles of electric transmission lines. Dominion operates one of the nation's largest natural gas storage systems with 1 trillion cubic feet of storage capacity and serves more than 6 million utility and retail energy customers. For more information about Dominion, visit the company's website at www.dom.com.
About Spring Ridge Constructors, LLC
SRC, LLC is a joint venture involved in the mainline pipeline construction industry.
About Duke Energy
Duke Energy (NYSE: DUK) is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at www.duke-energy.com.
About Piedmont Natural Gas
Piedmont Natural Gas (NYSE: PNY) is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial, industrial and power generation utility customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, and regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available on the Internet at www.piedmontng.com.
About Southern Company Gas
Southern Company Gas is a wholly owned subsidiary of Atlanta-based Southern Company (NYSE:SO), America's premier energy company. Southern Company Gas serves approximately 4.5 million natural gas utility customers through its regulated distribution companies in seven states and more than 1 million retail customers through its companies that market natural gas and related home services. Other nonutility businesses include asset management for natural gas wholesale customers and ownership and operation of natural gas storage facilities. For more information, visit Southern Company Gas at www.southerncompanygas.com.
This news release includes certain "forward-looking information." Examples include information as to our expectations, beliefs, plans, goals, objectives and future financial or other performance or assumptions concerning matters discussed in this release. Factors that could cause actual results to differ from those in the forward-looking statements may accompany the statements themselves. In addition, our business is influenced by many factors that are difficult to predict, involve uncertainties that may materially affect actual results and are often beyond our ability to control or estimate precisely, such as estimates of future market conditions, access to and costs of capital, the receipt of regulatory approvals for, and timing of, planned projects and compliance with conditions associated with such regulatory approvals, and the ability to complete planned construction or expansion projects within the terms and timeframes initially anticipated. We have identified and will in the future identify a number of these factors in our SEC Reports on Forms 10-K and 10-Q. We refer you to those discussions for further information. Any forward-looking statement speaks only as of the date on which it is made, and we undertake no obligation to update any forward-looking statement to reflect events or circumstances after the date on which it is made.
SOURCE Dominion
Article Date
9/21/2016Schools going solar with $300,000 investment from Duke Energy and NC GreenPower
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 20, 2016 /PRNewswire/ -- For some North Carolina students, learning about solar power will soon be as easy as looking outside their school window.
Duke Energy, through Raleigh-based nonprofit NC GreenPower, will invest $300,000 in solar PV systems for up to 10 schools in the state. The program will spur the generation of more clean energy, while creating a learning environment for students.
"North Carolina is a leader in solar installations and education," said David Fountain, Duke Energy's North Carolina president. "These installations will give students a chance to see solar power production firsthand – and provide an opportunity to learn about the attributes of this growing energy resource."
Modeled after NC GreenPower's Solar Schools program, this particular initiative will pay for 100 percent of the installation costs for rooftop or top-of-pole mounted systems on school property. The program also provides monitoring equipment, training and curriculum to students and teachers.
Schools must apply through NC GreenPower for consideration. Information and future applications can be accessed here.
"NC GreenPower is excited to partner with Duke Energy to provide additional K-12 schools with this great educational package. We rely on donations to help our schools, so this collaboration enables us to further our reach, especially to those schools that could not otherwise afford the technology," said Vicky McCann, NC GreenPower vice president.
Any K-12 North Carolina school served by Duke Energy Carolinas may apply. Consideration will be given to schools that have expressed past interest in solar or schools in economically challenged Tier 1 counties. NC GreenPower will use approved solar installation companies to manage the installation process for interested schools.
Schools must apply by Dec. 2, 2016. Recipients will be named by Feb. 13, 2017.
With a renewable energy portfolio spanning a dozen states, Duke Energy is one of the nation's leading developers of renewable energy. The company operates roughly 35 solar plants in North Carolina. The state ranks No. 2 in the nation for solar energy.
The program is part of a recent settlement with the U.S. Environmental Protection Agency and environmental groups.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About NC GreenPower
With the mission of improving the quality of the environment in North Carolina, the nonprofit NC GreenPower was founded in 2003 by Advanced Energy. NC GreenPower helps to connect consumers with renewable energy and carbon offset providers to create positive environmental and economic impacts for our state. All projects supported by the program are located in North Carolina.
In 2015, NC GreenPower launched a new pilot to support solar PV installations at K-12 schools. Contributions to NC GreenPower are tax-deductible. For more information, visit: www.ncgreenpower.org.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
Contact: Katie Lebrato
NC GreenPower
919-857-9026
klebrato@ncgreenpower.org
Twitter: @NCGP
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SOURCE Duke Energy
Article Date
9/20/20169/19/2016 - Make it an even dozen: Duke Energy economic development team honored by Site Selection magazine -- again
Make it an even dozen: Duke Energy economic development team honored by Site Selection magazine -- again
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 19, 2016 /PRNewswire/ -- For the 12th consecutive year, Duke Energy has been named to Site Selection magazine's annual list of "Top Utilities in Economic Development."
In the magazine's September edition, it credits Duke Energy's economic development team and its successful collaboration with state and local partners for delivering more than $3.5 billion in capital investments and over 12,000 new jobs in 2015. Duke Energy has been featured on the list every year since 2005.
Duke Energy's approach to economic development is unique in the utility industry.
"Economic development is a team sport and we are a key position player – we work with many allies in different capacities throughout the economic development process to achieve success," said Stu Heishman, Duke Energy's vice president of economic development. "We will continue to get these results by providing dependable, affordable energy to the industries, businesses and residential customers we serve."
Duke Energy's economic development team forges strategic relationships with key site selection consultants and targeted industries nationally and globally. In 2015, the company developed new options around site readiness and deployed a new model for targeted business recruitment with strategic hires in key markets including Atlanta, Detroit and San Francisco.
"We have been very aggressive with a specific focus on site readiness, industrial recruitment and collaborative efforts with our state and local partners to close deals," Heishman said. "Our team is committed to the mission of adding capital investment and jobs in the communities across our six-state service area."
To read the full article, go to: http://siteselection.com/issues/2016/sep/the-years-best-utilities-give-you-much-more-than-power.cfm
For more information about Duke Energy's economic development programs, visit www.locationdukeenergy.com.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/19/2016Duke Energy Perry Solar Facility is producing energy in the Sunshine State
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Sept. 15, 2016 /PRNewswire/ -- Duke Energy Florida customers are benefitting from approximately 22,000 solar panels that are generating clean, renewable energy in the Sunshine State.
The company's newest solar power plant, located on 22 acres in Taylor County, is the size of 17 football fields and is producing 5 megawatts of carbon-free energy. One megawatt of universal solar is equivalent to about 200 typical residential rooftop systems. The number varies by state and conditions.
School representatives, local students, elected officials, and community leaders, will join Duke Energy at a commemorative ribbon cutting and solar panel signing ceremony Oct. 19 to celebrate the opening.
"We are proud of the investments we're making in Florida's solar development," said Alex Glenn, Duke Energy state president – Florida. "With the cost of solar energy decreasing and panel efficiency advancing, building solar power plants like Perry is part of our ongoing strategy to offer cleaner, smarter energy solutions that customers value."
The Perry Solar Facility is the second in a strategic, long-range plan to install 35 megawatts of solar energy by 2018 and up to 500 megawatts of solar energy in the state by 2024, helping ensure residents have increasingly clean and diverse power sources.
Duke Energy Florida's Osceola Solar Facility began operating in May, providing nearly 4 megawatts of solar energy through 15,000 panels.
Solar projects, such as the Perry and Osceola facilities, enable the company to efficiently bring the greatest amount of renewable energy on line for customers in the most economical way.
Earlier this year, the company also unveiled a 5-megawatt solar power plant in the shape of a "not-so-hidden-Mickey" to meet the energy needs of Walt Disney World Resort and its customers through an agreement with the Reedy Creek Improvement District.
In addition to building universal solar in the Sunshine State, Duke Energy Florida is helping more than 90 residential and business customers per month install private solar on their property.
In the past five years, the number of customers who have interconnected private solar has increased by 400 percent. The company has also established a renewables service center to make it easier for customers to interconnect and is researching various community solar programs that offer all of Duke Energy's customers the opportunity to support more solar generation in Florida.
Over the past eight years, Duke Energy has invested more than $4 billion in wind and solar facilities in 12 states.
News editors
Construction and images of other Duke Energy solar projects are available upon request.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,100 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592
24-Hour: 800.559.3853
Twitter: @DE_PeveetaP
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SOURCE Duke Energy
Article Date
9/15/20169/13/2016 - Duke Energy Ohio modifies design and identifies preferred route for natural gas pipeline
Duke Energy Ohio modifies design and identifies preferred route for natural gas pipeline
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, Sept. 13, 2016 /PRNewswire/ -- In response to community feedback, Duke Energy has modified its plan for the Central Corridor Pipeline Extension Project. The company is now proposing to the Ohio Power Siting Board (OPSB) to construct a smaller natural gas pipeline that operates with less pressure.
The proposed pipeline would have a 20-inch diameter and operate at approximately 400 pounds per square inch (psi), compared with the original design, which called for a 30-inch pipe with an operating pressure of approximately 600 psi.
This newly proposed pipeline will still enable Duke Energy to retire aging propane peaking plants. It will also moderately decrease reliance on natural gas from a single source in the southern part of the company's system that has reached its maximum capacity.
Longer-term system needs will be addressed through other modernization programs to be implemented over the next decade.
"We have been listening to feedback from our customers, neighbors and community leaders," said Jim Henning, president of Duke Energy Ohio and Kentucky. "The reduction in size and pressure of the proposed natural gas pipeline is a direct result of this feedback."
"This new pipeline is critical for us to continue safely meeting the natural gas needs of nearly two million people in this region, both today and for generations to come," he added.
As part of today's filing with the OPSB, the company submitted two proposed pipeline routes for consideration. The preferred route identified in the application will be the eastern route and would terminate in Fairfax. The company was also required to submit an alternate route. Both routes are shown at this link. The OPSB will decide the final route and may also suggest modifications as well.
The proposed natural gas pipeline will be of similar size and pressure as other pipelines that Duke Energy operates every day to deliver natural gas to its customers. The natural gas that travels through these pipelines, including the proposed one, will only be used locally to benefit the company's 525,000 residential and business customers in the region.
"Duke Energy has a long history of providing safe and reliable natural gas to homes and businesses," said Henning. "Retiring aging infrastructure and replacing older pipelines with new materials engineered with state-of-the-art safety features and monitoring abilities is the right thing to do for our communities."
Duke Energy will construct and operate this 12- to 14-mile natural gas pipeline following industry-best engineering and safety practices and in full compliance with state and federal regulations. Currently, Duke Energy safely operates more than 14,000 miles of natural gas pipelines and service lines in its Ohio and Kentucky service territory.
For more information about the Central Corridor Transmission Pipeline Extension, see the company's website at: http://www.duke-energy.com/centralcorridor.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sally Thelen
Office: 513.287.2432 | 24-Hour: 800.559.3853
@DE_SallyT
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SOURCE Duke Energy
Article Date
9/13/2016Duke Energy receives award for program that saves customers energy and money
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 13, 2016 /PRNewswire/ -- Duke Energy has been named a 2016 Computerworld Data+ Editors' Choice Award honoree for its residential program that has saved customers enough energy to power more than 1 million homes for a year.
Launched in 2010, My Home Energy Report (MyHER) is the first of its kind in the world to hit the 1 terawatt-hour milestone for energy savings.
Computerworld's award recognizes innovative big data initiatives that deliver significant business value.
"We appreciate this recognition from Computerworld Data+," said Kelly Kuehn, Duke Energy's senior product and services manager. "It is an honor to be recognized for a program we developed to help our customers save energy and money."
MyHER provides residential customers with a report that provides a meaningful look at their energy use compared to similar nearby homes based on age, size, location and heating source. Customers living in single-family homes receive a MyHER report eight times a year with personalized recommendations to save energy. A report for customers living in multifamily dwellings is in development and will be rolled out in 2017.
The program is designed to be easy to understand, providing timely tips and offers specific to each customer to reduce energy use.
MyHER, which originally began as a mailer, has evolved into an interactive portal through which customers can obtain energy information, set savings goals and ask experts questions. Additional changes are expected as new technology is available. Report example: https://www.duke-energy.com/pdfs/MyHER-How-to-Read-Guide.pdf
The My Home Energy Report program is part of the company's overall strategy to bring new tools and information to customers to help manage their energy use, and provide a foundation for more products, services and conveniences.
The Data+ Editors' Choice Awards honorees and their achievements will be highlighted in a special September feature on Computerworld.
About Computerworld's Data+ Editors' Choice Awards
The Computerworld Data+ Editors' Choice awards program was launched in 2013 by IDG's Computerworld editorial team to recognize organizations that are mining big data to analyze and predict business trends and monetize this information. Organizations were asked to complete questionnaires detailing their big data projects, which were then reviewed by the Computerworld editorial team. From those questionnaires, honorees were selected for their ability to achieve business benefits through big data, and demonstrate real-world results and best practices. View the 2016 winners at www.computerworld.com/article/3115025/.
About Computerworld
Computerworld from IDG is the leading technology media brand helping senior IT, business decision-makers and key influencers navigate change with effective business strategy. As the voice of business technology, Computerworld enables the IT value chain with unique editorial coverage from setting strategies to deriving value. Computerworld's award-winning website (www.computerworld.com), focused conference series, strategic marketing solutions and research forms the hub of the world's largest (40+ edition) global IT media network and provides opportunities for IT vendors to engage this audience. Computerworld leads the industry with an online audience of over 7.2 million monthly page views (Omniture, January 2016 – March 2016 average) and was recognized in BtoB's 2013 Media Power 50 list; recognition Computerworld has received for more than 5 consecutive years. Computerworld is published by IDG Enterprise, a subsidiary of IDG. Company information is available at www.idgenterprise.com.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Media Relations
24-Hour: 800.559.3853
Twitter: @DukeEnergy
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SOURCE Duke Energy
Article Date
9/13/2016Duke Energy named to top sustainability index for 11th straight year
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 8, 2016 /PRNewswire/ -- Building on a decade as a leader in sustainability, Duke Energy has been named to the Dow Jones Sustainability Index (DJSI) for North America for the 11th consecutive year.
In the electric utility sector, 16 North American companies were evaluated for the index, and four were selected.
"Our employees continue to make Duke Energy a smarter, more efficient and innovative energy company," said Cari Boyce, Duke Energy's vice president, policy, sustainability and stakeholder strategy. "Being part of North America's top sustainable companies for the past 11 years is strong validation of our efforts."
Since 1999, the DJSI has evaluated the sustainability of leading companies worldwide.
In selecting the top performers in each business sector, the DJSI reviews companies on several general and industry-specific topics related to economic, environmental and social dimensions.
Among them: Corporate governance, innovation management, environmental policy, climate strategy, and corporate citizenship.
The index is compiled annually by S&P Dow Jones and Zurich-based RobecoSAM (Sustainable Asset Management). More information is available at http://www.sustainability-index.com/.
Duke Energy publishes an annual Sustainability Report that summarizes its efforts to advance energy efficiency, develop renewable energy, reduce emissions and more.
The 2015 report is available online at: http://sustainabilityreport.duke-energy.com.
Some of the highlights covered:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
9/8/2016Duke Energy Renewables acquires six Georgia solar projects from SolAmerica Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, Sept. 7, 2016 /PRNewswire/ -- Duke Energy Renewables today announced the acquisition of six solar projects totaling 4.7 megawatts (MW) from SolAmerica Energy.
SolAmerica Energy developed the ground-mounted projects and managed construction under an engineering, procurement and construction agreement with Duke Energy affiliate REC Solar. The projects are part of the Georgia Power Advanced Solar Initiative, and Georgia Power will purchase the power generated by the projects under a 30-year agreement.
"In acquiring these solar sites, we add Georgia to our growing U.S. renewables footprint," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "SolAmerica and REC Solar have completed quality projects that will deliver clean energy to Georgia Power's customers for years to come."
"We are pleased to have developed and constructed these projects for Duke Energy as part of a portfolio of projects under Georgia Power's Advanced Solar Initiative," said R. Stanley Allen, president of SolAmerica. "Duke Energy Renewables and REC Solar have been great partners and we look forward to continued involvement in the projects in an operations and maintenance capacity."
The projects total 4.7 MW alternating current (AC) and include:
The panels were manufactured by Yingli.
In its commercial business and regulated utilities, Duke Energy (NYSE: DUK) owns and operates more than 2,800 MW of wind and solar energy – enough to power 780,000 average homes at peak production. The company has invested more than $4 billion in renewable energy.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes approximately 20 wind projects and more than 40 solar facilities in operation in roughly a dozen states, totaling about 2,700 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About SolAmerica Energy
Founded in 2009, SolAmerica Energy is a leading Developer, EPC, and Operations & Maintenance Provider of solar photovoltaic (PV) projects for commercial, industrial, and government clients. SolAmerica's core competencies include site assessment, solar finance, system design and engineering, procurement, turnkey installation, testing, system monitoring, and operations and maintenance. With offices in Atlanta, Georgia and Washington, DC, SolAmerica has extensive experience delivering high-profile solar projects. For additional information about SolAmerica, visit www.solamericaenergy.com.
About REC Solar
REC is the only renewable energy provider focused exclusively on businesses and backed by Duke Energy, one of the largest energy companies in the world. Incorporating experience from more than 500 successful commercial solar installations over 19 years, REC Solar tailors financing and technology solutions to immediately deliver bottom line savings. REC Solar makes commercial solar simple, working seamlessly with customer operations to deliver clean energy for decades. For more, visit recsolar.com or call 844-REC-SOLAR (844-732-7652).
Contact: Duke Energy, Tammie McGee
800.559.3853
Contact: SolAmerica, Scott Garrett
770.826.7366, scott@garrettgroup.com
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SOURCE Duke Energy
Article Date
9/7/2016Duke Energy working to restore power to customers impacted by Hermine
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 3, 2016 /PRNewswire/ -- More than 1,300 personnel are working quickly and safely to restore power to 26,000 remaining North Carolina and South Carolina customers impacted by Hermine.
As of 9 a.m., more than 128,000 customers had been restored since the storm began. More than 154,000 total customers experienced an outage following the storm, and the peak number of outages experience at one time was at 7 a.m. today with more than 41,000 customers experiencing an outage.
"Our crews are working hard this Labor Day weekend to ensure we restore power to our customers quickly and safely and we are making significant progress," said Bobby Simpson, Duke Energy's storm director. "We appreciate our customers' patience as we work to get all of customers service restored."
Hardest hit areas include Dillon, Sumter, Lee and Darlington counties in South Carolina and Robeson and Sampson counties in North Carolina.
More than 400 technicians and their equipment have responded to the eastern part of North Carolina and South Carolina to assist with restoration efforts, supplementing crews based in the region.
Restoration times
Duke Energy estimates that 95% of affected customers will be restored by tonight, and remaining customers are expected to have power by 5 p.m. tomorrow. Homes and business that have damage to their meter box from the storm may need repairs and inspection before service can be restored. Meter box damage information: https://www.duke-energy.com/north-carolina/outages/meter-damage.asp.
There are three ways for customers to get the most up-to-date restoration / outage information and to report outages:
Online – Customers can report outages and access the online map from a computer or mobile device. Once on the map, customers should zoom in to their specific locations and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available: http://outagemap.duke-energy.com/ncsc/default.html
Text – Customers can receive automatic alerts and outage updates via text, phone or email. Text REG to 57801 to register or sign up online: http://www.duke-energy.com/north-carolina/outages/outage-alerts.asp
Phone – Customers who are without power can report outages and get up-to-date restoration times by calling the company's automated outage-reporting system: 800-769-3766 (800-PowerOn).
We also provide updated information on our social media channels to keep customers informed should significant outages occur as a result of the storm.
A web page dedicated to information about Hermine is available: www.duke-energy.com/hermine.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
Be safe
Please give utility repair crews plenty of space on the road as you drive by. Also, please be watchful for downed or sagging power lines. Consider all lines energized, as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy.
If a power line falls across a car that you're in, stay in the car. If you must get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground. Video: https://www.youtube.com/watch?v=iUxWaWti7P0
If you use a generator at home to provide power until your service is restored, please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be dangerous for crews making repairs. The excess electricity created by a generator can feed back onto the electric lines, severely injuring a line technician who might be working on a power line, believing it to be de-energized.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Media Relations
24-Hour: 800.559.3853
Twitter: @DukeEnergy
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SOURCE Duke Energy
Article Date
9/3/2016Duke Energy moving crews to respond to power outages in Hermine's aftermath
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 2, 2016 /PRNewswire/ -- Duke Energy meteorologists continue to track the remnants of Hurricane Hermine, and the company is prepared to respond to possible power outages that could occur in the Carolinas.
Duke Energy began today moving more than 200 line workers to Morehead City and Wilmington in North Carolina; and to the Florence area in South Carolina.
Be prepared
Be safe
Electrical safety guidelines for floods
Reporting outages
Customers who experience an outage during the storm should access the automated outage-reporting system as follows:
We also provide updated information on our social media channels to keep customers informed should significant outages occur as a result of the storm.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Media Relations
24-Hour: 800.559.3853
Twitter: @DukeEnergy
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SOURCE Duke Energy
Article Date
9/2/2016Duke Energy update on Tropical Storm Hermine as it tracks toward the Carolinas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Sept. 1, 2016 /PRNewswire/ -- As Tropical Storm Hermine nears the Florida coast, Duke Energy is prepared there and planning for potential severe weather impacts in the Carolinas beginning as early as Friday.
Duke Energy and its staff of meteorologists are closely monitoring weather conditions, activating their storm center and making preparations with crews and equipment to respond as quickly as possible should customers in the Carolinas experience any disruptions in their service.
"Tropical storms like Hermine are often challenging to predict precisely and can have significant impacts over a large area in the storm's path," said Steve Leyton, lead meteorologist for Duke Energy. "Our team is tracking the storm to ensure we're ready wherever those impacts might be in the Carolinas, and we encourage our customers to be prepared, too."
Duke Energy will begin moving additional crews and equipment to the eastern part of North Carolina and South Carolina Friday morning, where highest winds and greatest rainfall are expected.
Be ready
If you haven't already done your planning for severe weather, do so now. Check your supplies and be sure to have the following items in an easy-to-find location:
Families who have special medical needs or elderly members should closely monitor weather forecasts and make plans for potential alternate arrangements should an extended outage occur.
Charge cell phones in advance of the storm to stay connected to important safety and response information.
Be safe
If severe weather moves through the area, be watchful for downed or sagging power lines. Consider all lines energized as well as trees, limbs or anything in contact with lines. Please report downed power lines to Duke Energy.
If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
Video: https://www.youtube.com/watch?v=iUxWaWti7P0
Report an outage
There are three ways for customers to report outages and get the most up-to-date restoration information:
Online – Customers can report an outage online at www.duke-energy.com/outages. They can also access the outage map online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available: http://outagemap.duke-energy.com
Text message – Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with your account. To stay informed of future power outages, sign up to receive power outage alerts from Duke Energy by texting REG to 57801 or choose from text, email or phone alerts by enrolling at duke-energy.com/OutageAlerts.
Phone – Customers can report outages and get up-to-date restoration times by calling the company's automated outage-reporting system for their specific service area:
Stay connected
Visit Duke Energy's storm preparedness website – www.duke-energy.com/storms – for links to outage reporting tools, safety information and tips. There is also an interactive outage map where customers can find up-to-date information on power outages, including the total number of outages systemwide and estimated times of restoration.
Follow these social media accounts to get up-to-date information about outages and restoration efforts:
Restoring power
If you experience a power outage after severe weather, it's likely many other customers are out too. When there are widespread power outages, Duke Energy follows a restoration process that focuses on repairs that will return power to the greatest number of customers as safely, quickly and efficiently as possible. Emphasis is placed on vital public health and safety facilities such as hospitals, law enforcement, fire departments and water treatment facilities. This infographic explains the process: www.duke-energy.com/pdfs/How-Duke-Energy-Restores-Power.pdf
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
9/1/2016Duke Energy urges everyone to be prepared for emergencies
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 31, 2016 /PRNewswire/ -- With tornadoes having hit the Midwest and storms threatening the Southeast, it's clearly time to ensure you and your family have a plan ready to activate in the event of an emergency.
Duke Energy and its staff of meteorologists are constantly monitoring weather conditions, preparing to do whatever is necessary to maintain its high level of reliability and to react quickly when the power goes out.
The following tips can help you and your family prepare and stay safe if severe weather strikes and the power goes out.
Keep these items handy
Check your supplies and be sure to have the following items in an easy-to-find location:
If someone in your home has special needs or relies on electric-powered medical equipment, determine now the actions you'd take in the event of an extended power outage (i.e., relocate your family member or have a backup generator available). And encourage other family members, friends and neighbors to do the same.
Make sure your mobile phone is fully charged and phone numbers handy in case you need to check on family or friends in other locations or call emergency response agencies.
Stay Safe
If severe weather moves through the area, be watchful for downed or sagging power lines. Consider all lines energized as well as trees, limbs or anything in contact with lines. Please report downed power lines to Duke Energy.
If a power line falls across a car that you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
Video: https://www.youtube.com/watch?v=iUxWaWti7P0
Report an Outage
There are three ways for customers to report outages and get the most up-to-date restoration information:
Online – Customers can report an outage online at www.duke-energy.com/outages. They can also access the outage map online from a computer or mobile device. Once on the map, customers can zoom in to their specific location and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available: http://outagemap.duke-energy.com
Text message – Customers can text OUT to 57801 to report an outage from their mobile phone. Be sure to use the mobile phone associated with your account. To stay informed of future power outages, sign up to receive power outage alerts from Duke Energy by texting REG to 57801 or choose from text, email or phone alerts by enrolling at duke-energy.com/OutageAlerts.
Phone – Customers can report outages and get up-to-date restoration times by calling the company's automated outage-reporting system for their specific service area:
Stay Connected
Visit Duke Energy's storm preparedness website – www.duke-energy.com/storms – for links to outage reporting tools, safety information and tips. There is also an interactive outage map where customers can find up-to-date information on power outages, including the total number of outages systemwide and estimated times of restoration.
Follow these social media accounts to get up-to-date information about outages and restoration efforts:
Restoring Power
If you experience a power outage after severe weather, it's likely many other customers are out too. When there are widespread power outages, Duke Energy follows a restoration process that focuses on repairs that will return power to the greatest number of customers as safely, quickly and efficiently as possible. Emphasis is placed on vital public health and safety facilities such as hospitals, law enforcement, fire departments and water treatment facilities. This infographic explains the process: www.duke-energy.com/pdfs/How-Duke-Energy-Restores-Power.pdf
Other Helpful Resources
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/31/2016Duke Energy board names former INPO leader Bill Webster as new board member
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 25, 2016 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of former Institute of Nuclear Power Operations (INPO) executive vice president for industry strategy, William E. Webster Jr., as a new board member, effective Sept. 1, 2016.
INPO is an independent, nonprofit organization that plays a critical role in ensuring the safe and reliable operations of the nation's nuclear fleet. In Webster's most recent role at INPO, he had responsibility for nuclear plant and corporate evaluations, plant operations, plant technical support, and nuclear industry performance monitoring, training and education activities.
"Bill Webster's vast nuclear industry experience will be a tremendous asset for our company," said Lynn Good, Duke Energy's chairman, president and CEO. "Our carbon-free nuclear fleet will continue to be a crucial part of a balanced energy mix that provides reliable, affordable and increasingly clean energy for our customers."
Webster retired as executive vice president of INPO on June 30, 2016. Previously, he served in leadership roles in INPO's Industry Evaluations, Plant Support, Engineering Support and Plant Analysis and Emergency Preparedness divisions. In addition, while at INPO, he served in "on-loan" leadership assignments with FPL Group Inc. and Arizona Public Service Company's Palo Verde Nuclear Generating Station.
Webster received senior reactor operator certification at Duke Energy's Brunswick Nuclear Plant and attended the Executive Program in Business Administration at Columbia University. Before joining INPO in 1982, he served in the U.S. Navy and graduated with a Bachelor of Science degree in civil engineering from Villanova University.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Tom Williams
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/25/20168/17/2016 - Duke Energy receives new 30-year operating license for Keowee-Toxaway Hydroelectric Project
Duke Energy receives new 30-year operating license for Keowee-Toxaway Hydroelectric Project
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 17, 2016 /PRNewswire/ -- The Federal Energy Regulatory Commission (FERC) has issued a new 30-year operating license for Duke Energy's Keowee-Toxaway Hydroelectric Project, which will allow the company to continue operating the Jocassee Pumped Storage Hydro Station, Keowee Hydro Station and associated lakes.
"The project provides clean, renewable hydroelectric power generation, supports regional public drinking water needs and provides high-quality recreational opportunities for the region," said Steve Jester, Duke Energy's vice president of water strategy, hydro licensing and lake services. "This license ensures the availability of these resources for future generations."
The Keowee-Toxaway Hydroelectric Project begins with Lake Jocassee in North Carolina and South Carolina. It flows into Lake Keowee then downstream to the Army Corps of Engineers' Lake Hartwell Project.
The Keowee-Toxaway project is made up of two reservoirs with two powerhouses, spans approximately 25 river miles and encompasses approximately 480 miles of shoreline. It provides 868 megawatts of hydropower generation and cooling water for Oconee Nuclear Station, which has the capacity to generate approximately 2,500 megawatts of energy.
The new license takes effect Sept. 1, 2016, and represents a culmination of nearly a decade of collaboration among governmental and community stakeholders.
"Receiving the license allows us to implement operational, environmental and recreational resource enhancements that will result in many benefits to the community and the environment for decades to come," Jester said.
These benefits include improvements to existing public recreational areas on Lake Jocassee and Lake Keowee. The company will also implement a Habitat Enhancement Program in the watershed and conserve approximately 2,900 acres of property adjoining the lakes to preserve and protect ecologically and culturally significant resources.
The project was originally licensed in 1966 for 50 years. Duke Energy filed the application to relicense the project in August 2014.
The license application evaluated the impacts of Duke Energy's operation during the next license term and includes a relicensing agreement signed by Duke Energy and 16 other stakeholder organizations.
It also includes a new operating agreement Duke Energy negotiated with the Army Corps of Engineers and the Southeastern Power Administration to improve operational coordination between Duke Energy's project and Army Corps of Engineers' projects downstream.
Duke Energy will carefully review the terms and conditions of the new license during the 30-day review period and file any items requiring clarification or rehearing with the FERC.
For more information about Duke Energy-managed lakes and recreational resources, including relicensing, go to: http://www.duke-energy.com/lakes.
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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Media Contact: Kim Crawford
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
8/17/2016Duke Energy Federal Affairs leader Heath Shuler to leave the company
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 15, 2016 /PRNewswire/ -- Duke Energy today announced the company's Senior Vice President of Federal Affairs Heath Shuler has decided to leave the company to pursue other interests. His last day will be Aug. 31, 2016.
Shuler has agreed to serve as a consultant to the company for one year.
"Since joining the company in 2013, Heath has been a valuable leader in building our Federal Affairs team and working with key stakeholders on federal issues important to our customers and shareholders," said Julie Janson, Duke Energy's chief legal officer and corporate secretary. "We thank him for his contributions and wish him well in his future endeavors."
Cari Boyce, Duke Energy's vice president, policy, sustainability and stakeholder strategy, will assume leadership of the company's Federal Affairs team on an interim basis.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Tom Williams
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/15/2016Duke Energy reports second quarter 2016 financial results
Source: PR Newswire
CHARLOTTE, N.C., Aug. 4, 2016 /PRNewswire/ --
Duke Energy today announced second quarter 2016 reported diluted earnings per share (EPS), prepared in accordance with Generally Accepted Accounting Principles (GAAP) of $0.74, compared to $0.78 for second quarter 2015. Second quarter 2016 adjusted diluted EPS was $1.07, compared to $0.95 for second quarter 2015.
GAAP reported diluted EPS includes the impact of special items, which are excluded from adjusted diluted EPS. Special items during the second quarter of 2016 include charges related to an impairment in Central America, costs to achieve mergers and cost savings initiatives.
Second quarter adjusted diluted EPS was higher than the prior year due to higher retail revenues from pricing and rider recoveries, lower O&M expense, and additional earnings from the North Carolina Eastern Municipal Power Agency (NCEMPA) acquisition.
Based upon results through the second quarter, the company remains on track to achieve its 2016 adjusted diluted earnings guidance range of $4.50 to $4.70 per share.
"Our solid second quarter performance reflects the strength of our regulated utilities driven by strategic investments, dedicated cost management and a relentless focus on operational excellence," said Lynn Good, Duke Energy chairman, president and CEO. "The execution of our long-term strategy to modernize the energy grid and generate cleaner energy creates value for customers, delivers growth for shareholders and enhances our position as a leader in the industry.
"Looking ahead, we are on track with our proposed acquisition of Piedmont Natural Gas and the marketing of our Latin American assets," Good added. "The successful completion of both transactions will align our portfolio to focus on domestic infrastructure businesses that drive more stable earnings and cash flow growth."
Business unit results
In addition to the summary business unit discussion below, a comprehensive table of quarterly earnings per share drivers compared to the prior year is provided on pages 15 and 16.
The discussion below of the second-quarter results includes adjusted segment income, which is a non-GAAP financial measure. In addition to the drivers that follow, the variances in GAAP reported earnings were impacted by special items. The tables on pages 25 through 28 present a detail of special items and a reconciliation of GAAP reported results to adjusted results.
During the first quarter of 2016, Duke Energy began to evaluate interim period segment performance based on financial information that includes the impact of income tax levelization within segment income. This represents a change from the previous measure, where the interim period impacts of income tax levelization were included within Other, and therefore excluded from segment income. As a result, prior period segment results presented in this release have been recast to conform to this change.
Regulated Utilities
Regulated Utilities recognized second quarter 2016 adjusted segment income of $718 million, compared to $632 million in the second quarter 2015, an increase of $0.13 per share.
Higher quarterly results at Regulated Utilities were primarily driven by:
These favorable drivers were partially offset by:
On a year-to-date basis, Regulated Utilities recognized adjusted segment income of $1,413 million, compared to $1,406 million in the comparable year-to-date period of 2015, an increase of $0.01 per share.
Increased year-to-date results at Regulated Utilities were primarily driven by:
These favorable drivers were partially offset by:
Commercial Portfolio
Commercial Portfolio recognized second quarter 2016 adjusted segment income of $14 million, compared to $11 million in the second quarter 2015, an increase of $0.01 per share.
Higher quarterly results at Commercial Portfolio were primarily driven by increased investments in the Atlantic Coast and Sabal Trail pipelines.
On a year-to-date basis, Commercial Portfolio recognized adjusted segment income of $41 million, compared to $112 million in the comparable year-to-date period of 2015, a decrease of $0.10 per share.
Commercial Portfolio's lower year-to-date earnings were driven by the absence of earnings from the Midwest Generation business (-$0.12 per share), which was sold in April 2015, partially offset by higher earnings from the renewables portfolio (+$0.01 per share) and increased investments in the Atlantic Coast and Sabal Trail pipelines (+$0.01 per share).
International Energy
International Energy recognized second quarter 2016 adjusted segment income of $43 million, compared to $52 million in the second quarter 2015, a decrease of $0.02 per share.
International Energy's decreased quarterly earnings were driven by lower earnings at National Methanol Company (NMC) (-$0.02 per share) and a higher effective tax rate (-$0.02 per share), partially offset by stronger results in Latin America (+$0.03 per share) primarily due to improved hydrology in Brazil despite weaker foreign currency exchange rates.
On a year-to-date basis, International Energy recognized adjusted segment income of $166 million, compared to $88 million in the comparable year-to-date period of 2015, an increase of $0.11 per share.
Higher year-to-date earnings at International Energy were driven by a lower effective tax rate (+$0.08 per share), stronger results in Latin America (+$0.06 per share) primarily due to improved hydrology in Brazil, partially offset by weaker foreign currency exchange rates, and lower earnings from NMC (-$0.03 per share).
Other
On an adjusted basis, Other primarily includes corporate interest expense not allocated to the business units, results from Duke Energy's captive insurance company, and other investments.
Other recognized second quarter 2016 adjusted net expense of $36 million, compared to net expense of $37 million in the second quarter 2015, which was flat on a per share basis. The decreased net expense was primarily driven by a change in effective tax rate (+$0.02 per share) and higher interest expense (-$0.01 per share).
On a year-to-date basis, Other recognized adjusted net expense of $104 million, compared to $67 million in the comparable period of 2015, a decrease of $0.05 per share. Other's year-to-date results were primarily driven by higher interest expense (-$0.02 per share) and a change in effective tax rate (-$0.01 per share).
The consolidated adjusted effective tax rate for second quarter 2016 was 31.4 percent, compared to 31.3 percent in the second quarter of 2015. Adjusted effective tax rate is a non-GAAP financial measure. The tables on pages 29 and 30 present a reconciliation of GAAP reported effective tax rate to adjusted effective tax rate.
Accelerated stock repurchase program
In connection with the transaction to sell the Midwest Generation Business to Dynegy for $2.8 billion, which closed on April 2, 2015, Duke Energy completed a $1.5 billion accelerated stock repurchase program (ASR). The program resulted in share retirements of approximately 19.8 million, providing a benefit to the year-to-date 2016 results of $0.03 per share.
Earnings conference call for analysts
An earnings conference call for analysts is scheduled for 10 a.m. ET today to discuss Duke Energy's financial performance for the quarter and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-723-9502 in the United States or 719-325-4795 outside the United States. The confirmation code is 4669837. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, August 14, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 4669837. A replay and transcript also will be available by accessing the investors' section of the company's website.
Special Items and Non-GAAP Reconciliation
The following table presents a reconciliation of GAAP reported to adjusted diluted EPS for quarterly results in 2016 and 2015:
|
(In millions, except per-share amounts) |
After-Tax |
2Q 2016 |
2Q 2015 | ||||||
|
Diluted EPS, as reported |
$ |
0.74 |
$ |
0.78 |
|||||
|
Adjustments to reported EPS: |
|||||||||
|
Second Quarter 2016 |
|||||||||
|
Costs to achieve, mergers |
$ |
69 |
0.10 |
||||||
|
International impairment |
145 |
0.21 |
|||||||
|
Cost savings initiatives |
15 |
0.02 |
|||||||
|
Discontinued operations |
1 |
— |
|||||||
|
Second Quarter 2015 |
|||||||||
|
Costs to achieve, Progress merger |
14 |
0.02 |
|||||||
|
Discontinued operations (1) |
101 |
0.15 |
|||||||
|
Total adjustments |
$ |
0.33 |
$ |
0.17 |
|||||
|
Diluted EPS, as adjusted |
$ |
1.07 |
$ |
0.95 |
|||||
(1) Adjusted earnings for the second quarter of 2015 excludes GAAP reported loss from discontinued operations of $0.09 per diluted share, which was driven by the impact of a litigation reserve related to the nonregulated Midwest generation business, as well as a tax charge recorded within continuing operations of $0.06 resulting from changes in state tax apportionment factors related to the sale of the Midwest generation business.
Non-GAAP financial measures
Management evaluates financial performance in part based on non-GAAP financial measures, adjusted earnings and adjusted diluted EPS. These items represent income from continuing operations net of income (loss) attributable to noncontrolling interests, adjusted for the dollar and per-share impact of special items. Special items represent certain charges and credits, which management believes are not indicative of our ongoing performance, and are discussed below. Management believes the presentation of adjusted earnings and adjusted diluted EPS provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy's performance across periods. Management uses these non-GAAP financial measures for planning and forecasting and for reporting results to the Board of Directors, employees, stockholders, analysts and investors concerning Duke Energy's financial performance. Adjusted diluted EPS is also used as a basis for employee incentive bonuses. The most directly comparable GAAP measures for adjusted earnings and adjusted diluted EPS are Net Income Attributable to Duke Energy Corporation and Diluted EPS Attributable to Duke Energy Corporation common stockholders.
Special items included in the periods presented include the following:
Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods (such as legal settlements, the impact of regulatory orders, or asset impairments).
Management evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment income includes intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income as a measure of historical and anticipated future segment performance. Adjusted segment income is a non-GAAP financial measure, as it is based upon segment income adjusted for special items, which are discussed above. Management believes the presentation of adjusted segment income as presented provides useful information to investors, as it provides them with an additional relevant comparison of a segment's performance across periods. The most directly comparable GAAP measure for adjusted segment income is segment income.
Due to the forward-looking nature of any forecasted adjusted segment income or adjusted Other net expenses and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as the company is unable to forecast all special items or any amounts that may be reported as discontinued operations or extraordinary items for future periods, as discussed above.
Duke Energy's adjusted earnings, adjusted diluted EPS, and adjusted segment income may not be comparable to similarly titled measures of another company because other entities may not calculate the measures in the same manner.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; the expected timing and likelihood of completion of the proposed acquisition of Piedmont Natural Gas Company, Inc. (Piedmont), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed acquisition that could reduce anticipated benefits or cause the parties to abandon the acquisition, and under certain specified circumstance pay a termination fee of $250 million, as well as the ability to successfully integrate the businesses and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; and the likelihood, terms and timing of the potential sale of International Energy, excluding the equity investment in National Methanol Company, could change the presentation of certain assets, liabilities and results of operations as assets held for sale, liabilities associated with assets held for sale, and discontinued operations, respectively.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts: Mike Callahan
Office: 704.382.0459
|
June 2016 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | ||||||||||||||
|
(In millions, except per-share amounts and where noted) |
2016 |
2015 |
2016 |
2015 | |||||||||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.74 |
$ |
0.87 |
$ |
1.74 |
$ |
1.96 |
|||||||
|
Diluted |
$ |
0.74 |
$ |
0.87 |
$ |
1.74 |
$ |
1.96 |
|||||||
|
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
— |
$ |
(0.09) |
$ |
— |
$ |
0.05 |
|||||||
|
Diluted |
$ |
— |
$ |
(0.09) |
$ |
— |
$ |
0.05 |
|||||||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.74 |
$ |
0.78 |
$ |
1.74 |
$ |
2.01 |
|||||||
|
Diluted |
$ |
0.74 |
$ |
0.78 |
$ |
1.74 |
$ |
2.01 |
|||||||
|
Weighted average shares outstanding |
|||||||||||||||
|
Basic |
689 |
692 |
689 |
700 |
|||||||||||
|
Diluted |
690 |
692 |
689 |
700 |
|||||||||||
|
SEGMENT INCOME (LOSS) BY BUSINESS SEGMENT |
|||||||||||||||
|
Regulated Utilities |
$ |
718 |
$ |
632 |
$ |
1,413 |
$ |
1,406 |
|||||||
|
International Energy(a)(b) |
(102) |
52 |
21 |
88 |
|||||||||||
|
Commercial Portfolio(c) |
14 |
(30) |
41 |
(23) |
|||||||||||
|
Total Reportable Segment Income |
630 |
654 |
1,475 |
1,471 |
|||||||||||
|
Other Net Expense(d)(e)(f) |
(120) |
(51) |
(274) |
(94) |
|||||||||||
|
Intercompany Eliminations |
— |
(3) |
— |
(4) |
|||||||||||
|
(Loss) Income from Discontinued Operations, net of tax(g) |
(1) |
(57) |
2 |
34 |
|||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
509 |
$ |
543 |
$ |
1,203 |
$ |
1,407 |
|||||||
|
CAPITALIZATION |
|||||||||||||||
|
Total Common Equity |
47% |
49% |
|||||||||||||
|
Total Debt |
53% |
51% |
|||||||||||||
|
Total Debt |
$ |
44,585 |
$ |
41,173 |
|||||||||||
|
Book Value Per Share |
$ |
57.98 |
$ |
57.56 |
|||||||||||
|
Actual Shares Outstanding |
689 |
688 |
|||||||||||||
|
CAPITAL AND INVESTMENT EXPENDITURES |
|||||||||||||||
|
Regulated Utilities |
$ |
1,565 |
$ |
1,411 |
$ |
3,013 |
$ |
2,673 |
|||||||
|
International Energy |
10 |
7 |
15 |
19 |
|||||||||||
|
Commercial Portfolio |
208 |
261 |
422 |
383 |
|||||||||||
|
Other |
42 |
56 |
79 |
114 |
|||||||||||
|
Total Capital and Investment Expenditures |
$ |
1,825 |
$ |
1,735 |
$ |
3,529 |
$ |
3,189 |
|||||||
|
Note: Certain prior period amounts have been reclassified to conform to the current year presentation, including changes related to the new segment income measure. | |||||||||||||||
|
(a) Includes an impairment charge of $145 million (net of tax of $49 million) for the three and six months ended June 30, 2016, related to certain assets in Central America. | |||||||||||||||
|
(b) Includes a tax benefit of $79 million for the six months ended June 30, 2016, resulting from the ability to more efficiently utilize foreign tax credits, net of higher taxes due to no longer asserting indefinite reinvestment of foreign earnings. | |||||||||||||||
|
(c) Includes a tax charge of $41 million for the three and six months ended June 30, 2015, resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||||||
|
(d) Includes costs to achieve mergers of $69 million for the three months ended June 30, 2016 (net of tax of $42 million), and $143 million for the six months ended June 30, 2016 (net of tax of $88 million). These costs primarily consist of mark-to-market losses related to forward-starting interest rate swaps utilized to manage interest rate exposure for the expected financing of the Piedmont acquisition. | |||||||||||||||
|
(e) Includes costs to achieve Progress merger of $14 million for the three months ended June 30, 2015 (net of tax of $8 million), and $27 million for the six months ended June 30, 2015 (net of tax of $16 million). | |||||||||||||||
|
(f) Includes a charge of $15 million for the three months ended June 30, 2016 (net of tax of $9 million) and $27 million for the six months ended June 30, 2016 (net of tax of $17 million), primarily consisting of severance expense related to cost savings initiatives. | |||||||||||||||
|
(g) Includes the impact of a litigation reserve related to the nonregulated Midwest generation business of $46 million for the three months ended June 30, 2015 (net of tax of $25 million), and $53 million for the six months ended June 30, 2015 (net of tax of $28 million). | |||||||||||||||
|
June 2016 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended |
Six Months Ended | ||||||||||||||
|
June 30, |
June 30, | ||||||||||||||
|
(In millions, except for GWh and MW amounts) |
2016 |
2015 |
2016 |
2015 | |||||||||||
|
REGULATED UTILITIES |
|||||||||||||||
|
Operating Revenues |
$ |
5,099 |
$ |
5,220 |
$ |
10,358 |
$ |
10,943 |
|||||||
|
Operating Expenses |
3,772 |
4,003 |
7,739 |
8,308 |
|||||||||||
|
Gains on Sales of Other Assets, net |
1 |
2 |
2 |
9 |
|||||||||||
|
Operating Income |
1,328 |
1,219 |
2,621 |
2,644 |
|||||||||||
|
Other Income and Expenses |
74 |
59 |
138 |
131 |
|||||||||||
|
Interest Expense |
278 |
274 |
555 |
549 |
|||||||||||
|
Income Before Income Taxes |
1,124 |
1,004 |
2,204 |
2,226 |
|||||||||||
|
Income Tax Expense |
406 |
372 |
791 |
820 |
|||||||||||
|
Segment Income |
$ |
718 |
$ |
632 |
$ |
1,413 |
$ |
1,406 |
|||||||
|
Depreciation and Amortization |
$ |
721 |
$ |
707 |
$ |
1,449 |
$ |
1,405 |
|||||||
|
INTERNATIONAL ENERGY |
|||||||||||||||
|
Operating Revenues |
$ |
270 |
$ |
287 |
$ |
516 |
$ |
560 |
|||||||
|
Operating Expenses(a) |
382 |
232 |
536 |
439 |
|||||||||||
|
Loss on Sales of Other Assets, net |
(1) |
(1) |
(1) |
(1) |
|||||||||||
|
Operating (Loss) Income |
(113) |
54 |
(21) |
120 |
|||||||||||
|
Other Income and Expenses |
23 |
31 |
39 |
45 |
|||||||||||
|
Interest Expense |
22 |
22 |
44 |
45 |
|||||||||||
|
(Loss) Income Before Income Taxes |
(112) |
63 |
(26) |
120 |
|||||||||||
|
Income Tax (Benefit) Expense(b)(c) |
(13) |
10 |
(52) |
30 |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
3 |
1 |
5 |
2 |
|||||||||||
|
Segment (Loss) Income |
$ |
(102) |
$ |
52 |
$ |
21 |
$ |
88 |
|||||||
|
Depreciation and Amortization |
$ |
22 |
$ |
23 |
$ |
44 |
$ |
46 |
|||||||
|
Sales, GWh |
5,625 |
4,520 |
11,505 |
8,990 |
|||||||||||
|
Proportional MW Capacity in Operation |
4,315 |
4,333 |
|||||||||||||
|
COMMERCIAL PORTFOLIO |
|||||||||||||||
|
Operating Revenues |
$ |
112 |
$ |
75 |
$ |
226 |
$ |
148 |
|||||||
|
Operating Expenses |
121 |
84 |
232 |
173 |
|||||||||||
|
Gains on Sales of Other Assets, net |
1 |
6 |
2 |
6 |
|||||||||||
|
Operating Loss |
(8) |
(3) |
(4) |
(19) |
|||||||||||
|
Other Income and Expenses |
4 |
(2) |
6 |
— |
|||||||||||
|
Interest Expense |
11 |
10 |
23 |
22 |
|||||||||||
|
Loss Before Income Taxes |
(15) |
(15) |
(21) |
(41) |
|||||||||||
|
Income Tax (Benefit) Expense(d) |
(28) |
15 |
(61) |
(18) |
|||||||||||
|
Less: Loss Attributable to Noncontrolling Interests |
(1) |
— |
(1) |
— |
|||||||||||
|
Segment Income (Loss) |
$ |
14 |
$ |
(30) |
$ |
41 |
$ |
(23) |
|||||||
|
Depreciation and Amortization |
$ |
33 |
$ |
26 |
$ |
63 |
$ |
50 |
|||||||
|
Actual Renewable Plant Production, GWh |
1,758 |
1,373 |
3,818 |
2,683 |
|||||||||||
|
Net Proportional MW Capacity in Operation |
1,978 |
1,634 |
|||||||||||||
|
OTHER |
|||||||||||||||
|
Operating Revenues |
$ |
30 |
$ |
34 |
$ |
59 |
$ |
61 |
|||||||
|
Operating Expenses(e)(f)(g) |
96 |
63 |
188 |
113 |
|||||||||||
|
Gains on Sales of Other Assets, net |
4 |
6 |
11 |
13 |
|||||||||||
|
Operating Loss |
(62) |
(23) |
(118) |
(39) |
|||||||||||
|
Other Income and Expenses |
8 |
9 |
18 |
10 |
|||||||||||
|
Interest Expense(h) |
191 |
97 |
396 |
194 |
|||||||||||
|
Loss Before Income Taxes |
(245) |
(111) |
(496) |
(223) |
|||||||||||
|
Income Tax Benefit(i)(j)(k) |
(126) |
(63) |
(226) |
(134) |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
1 |
3 |
4 |
5 |
|||||||||||
|
Segment Net Expense |
$ |
(120) |
$ |
(51) |
$ |
(274) |
$ |
(94) |
|||||||
|
Depreciation and Amortization |
$ |
37 |
$ |
34 |
$ |
71 |
$ |
66 |
|||||||
|
Note: Certain prior period amounts have been reclassified to conform to the current year presentation, including changes related to the new segment income measure. | |||||||||||||||
|
(a) Includes a pretax impairment charge of $194 million for the three and six months ended June 30, 2016, related to certain assets in Central America. | |||||||||||||||
|
(b) Includes a tax benefit of $49 million for the three and six months ended June 30, 2016 related to the asset impairment. | |||||||||||||||
|
(c) Includes a tax benefit of $79 million for the six months ended June 30, 2016, resulting from the ability to more efficiently utilize foreign tax credits, net of higher taxes due to no longer asserting indefinite reinvestment of foreign earnings. | |||||||||||||||
|
(d) Includes a tax charge of $41 million for the three and six months ended June 30, 2015, resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||||||
|
(e) Includes costs to achieve mergers of $28 million for the three months ended June 30, 2016, and $47 million for the six months ended June 30, 2016. | |||||||||||||||
|
(f) Includes charges of $24 million for the three months ended June 30, 2016, and $44 million for the six months ended June 30, 2016, related to cost savings initiatives. | |||||||||||||||
|
(g) Includes costs to achieve Progress merger of $22 million for the three months ended June 30, 2015 and $43 million for the six months ended June 30, 2015. | |||||||||||||||
|
(h) Includes costs to achieve mergers of $83 million for the three months ended June 30, 2016 and $183 million for the six months ended June 30, 2016. These costs primarily consist of mark-to-market losses related to forward-starting interest rate swaps utilized to manage interest rate exposure for the expected financing of the Piedmont acquisition. | |||||||||||||||
|
(i) Includes a tax benefit related to costs to achieve mergers of $42 million for the three months ended June 30, 2016 and $88 million for the six months ended June 30, 2016. | |||||||||||||||
|
(j) Includes a tax benefit related to cost savings initiatives of $9 million for the three months ended June 30, 2016 and $17 million for the six months ended June 30, 2016. | |||||||||||||||
|
(k) Includes a tax benefit related to costs to achieve Progress merger of $8 million for the three months ended June 30, 2015 and $16 million for the six months ended June 30, 2015. | |||||||||||||||
|
DUKE ENERGY CORPORATION | |||||||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
(In millions, except per-share amounts) | |||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | ||||||||||||||
|
2016 |
2015 |
2016 |
2015 | ||||||||||||
|
Operating Revenues |
|||||||||||||||
|
Regulated electric |
$ |
4,965 |
$ |
5,090 |
$ |
10,018 |
$ |
10,547 |
|||||||
|
Nonregulated electric and other |
422 |
403 |
822 |
780 |
|||||||||||
|
Regulated natural gas |
97 |
96 |
266 |
327 |
|||||||||||
|
Total operating revenues |
5,484 |
5,589 |
11,106 |
11,654 |
|||||||||||
|
Operating Expenses |
|||||||||||||||
|
Fuel used in electric generation and purchased power - regulated |
1,509 |
1,721 |
3,086 |
3,662 |
|||||||||||
|
Fuel used in electric generation and purchased power - nonregulated |
82 |
118 |
140 |
222 |
|||||||||||
|
Cost of natural gas |
21 |
26 |
81 |
137 |
|||||||||||
|
Operation, maintenance and other |
1,431 |
1,422 |
2,920 |
2,848 |
|||||||||||
|
Depreciation and amortization |
813 |
790 |
1,627 |
1,567 |
|||||||||||
|
Property and other taxes |
293 |
279 |
590 |
543 |
|||||||||||
|
Impairment charges |
195 |
— |
198 |
— |
|||||||||||
|
Total operating expenses |
4,344 |
4,356 |
8,642 |
8,979 |
|||||||||||
|
Gains on Sales of Other Assets and Other, net |
5 |
13 |
14 |
27 |
|||||||||||
|
Operating Income |
1,145 |
1,246 |
2,478 |
2,702 |
|||||||||||
|
Other Income and Expenses |
|||||||||||||||
|
Equity in earnings of unconsolidated affiliates |
15 |
23 |
23 |
36 |
|||||||||||
|
Other income and expenses, net |
92 |
72 |
171 |
146 |
|||||||||||
|
Total other income and expenses |
107 |
95 |
194 |
182 |
|||||||||||
|
Interest Expense |
500 |
403 |
1,011 |
806 |
|||||||||||
|
Income from Continuing Operations before Income Taxes |
752 |
938 |
1,661 |
2,078 |
|||||||||||
|
Income Tax Expense from Continuing Operations |
239 |
334 |
452 |
698 |
|||||||||||
|
Income from Continuing Operations |
513 |
604 |
1,209 |
1,380 |
|||||||||||
|
(Loss) Income from Discontinued Operations, net of tax |
(1) |
(57) |
2 |
34 |
|||||||||||
|
Net Income |
512 |
547 |
1,211 |
1,414 |
|||||||||||
|
Less: Net Income Attributable to Noncontrolling Interests |
3 |
4 |
8 |
7 |
|||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
509 |
$ |
543 |
$ |
1,203 |
$ |
1,407 |
|||||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation |
|||||||||||||||
|
Basic |
$ |
0.74 |
$ |
0.87 |
$ |
1.74 |
$ |
1.96 |
|||||||
|
Diluted |
$ |
0.74 |
$ |
0.87 |
$ |
1.74 |
$ |
1.96 |
|||||||
|
(Loss) Income from discontinued operations attributable to Duke Energy |
|||||||||||||||
|
Basic |
$ |
— |
$ |
(0.09) |
$ |
— |
$ |
0.05 |
|||||||
|
Diluted |
$ |
— |
$ |
(0.09) |
$ |
— |
$ |
0.05 |
|||||||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.74 |
$ |
0.78 |
$ |
1.74 |
$ |
2.01 |
|||||||
|
Diluted |
$ |
0.74 |
$ |
0.78 |
$ |
1.74 |
$ |
2.01 |
|||||||
|
Weighted average shares outstanding |
|||||||||||||||
|
Basic |
689 |
692 |
689 |
700 |
|||||||||||
|
Diluted |
690 |
692 |
689 |
700 |
|||||||||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
|
(Unaudited) | ||||||||
|
(in millions) |
June 30, 2016 |
December 31, 2015 | ||||||
|
ASSETS |
||||||||
|
Current Assets |
||||||||
|
Cash and cash equivalents |
$ |
676 |
$ |
857 |
||||
|
Receivables (net of allowance for doubtful accounts of $23 at 2016 and $18 at 2015) |
575 |
703 |
||||||
|
Receivables of VIEs (net of allowance for doubtful accounts of $56 at 2016 and $53 at 2015) |
1,943 |
1,748 |
||||||
|
Inventory |
3,627 |
3,810 |
||||||
|
Regulatory assets (Includes $34 related to VIEs at 2016) |
825 |
877 |
||||||
|
Other |
451 |
327 |
||||||
|
Total current assets |
8,097 |
8,322 |
||||||
|
Investments and Other Assets |
||||||||
|
Investments in equity method unconsolidated affiliates |
613 |
499 |
||||||
|
Nuclear decommissioning trust funds |
5,966 |
5,825 |
||||||
|
Goodwill |
16,357 |
16,343 |
||||||
|
Other |
2,972 |
3,042 |
||||||
|
Total investments and other assets |
25,908 |
25,709 |
||||||
|
Property, Plant and Equipment |
||||||||
|
Cost |
115,143 |
112,826 |
||||||
|
Accumulated depreciation and amortization |
(38,412) |
(37,665) |
||||||
|
Generation facilities to be retired, net |
598 |
548 |
||||||
|
Net property, plant and equipment |
77,329 |
75,709 |
||||||
|
Regulatory Assets and Deferred Debits |
||||||||
|
Regulatory assets (includes $1,194 related to VIEs at 2016) |
11,290 |
11,373 |
||||||
|
Other |
30 |
43 |
||||||
|
Total regulatory assets and deferred debits |
11,320 |
11,416 |
||||||
|
Total Assets |
$ |
122,654 |
$ |
121,156 |
||||
|
LIABILITIES AND EQUITY |
||||||||
|
Current Liabilities |
||||||||
|
Accounts payable |
$ |
2,221 |
$ |
2,400 |
||||
|
Notes payable and commercial paper |
2,312 |
3,633 |
||||||
|
Taxes accrued |
467 |
348 |
||||||
|
Interest accrued |
448 |
430 |
||||||
|
Current maturities of long-term debt (includes $197 at 2016 and $125 at 2015 related to VIEs) |
2,342 |
2,074 |
||||||
|
Regulatory liabilities |
332 |
400 |
||||||
|
Other |
1,784 |
2,115 |
||||||
|
Total current liabilities |
9,906 |
11,400 |
||||||
|
Long-Term Debt (includes $3,383 at 2016 and $2,197 at 2015 related to VIEs) |
39,931 |
37,495 |
||||||
|
Deferred Credits and Other Liabilities |
||||||||
|
Deferred income taxes |
13,038 |
12,705 |
||||||
|
Investment tax credits |
492 |
472 |
||||||
|
Accrued pension and other post-retirement benefit costs |
1,044 |
1,088 |
||||||
|
Asset retirement obligations |
10,231 |
10,264 |
||||||
|
Regulatory liabilities |
6,334 |
6,255 |
||||||
|
Other |
1,730 |
1,706 |
||||||
|
Total deferred credits and other liabilities |
32,869 |
32,490 |
||||||
|
Commitments and Contingencies |
||||||||
|
Equity |
||||||||
|
Common stock, $0.001 par value, 2 billion shares authorized; 689 million and 688 million shares |
1 |
1 |
||||||
|
Additional paid-in capital |
37,984 |
37,968 |
||||||
|
Retained earnings |
2,627 |
2,564 |
||||||
|
Accumulated other comprehensive loss |
(717) |
(806) |
||||||
|
Total Duke Energy Corporation stockholders' equity |
39,895 |
39,727 |
||||||
|
Noncontrolling interests |
53 |
44 |
||||||
|
Total equity |
39,948 |
39,771 |
||||||
|
Total Liabilities and Equity |
$ |
122,654 |
$ |
121,156 |
||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
(Unaudited) | ||||||||
|
(In millions) | ||||||||
|
Six Months Ended June 30, | ||||||||
|
2016 |
2015 | |||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
|
Net Income |
$ |
1,211 |
$ |
1,414 |
||||
|
Adjustments to reconcile net income to net cash provided by operating activities |
1,995 |
1,465 |
||||||
|
Net cash provided by operating activities |
3,206 |
2,879 |
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
|
Net cash used in investing activities |
(3,608) |
(294) |
||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
|
Net cash provided by (used in) financing activities |
221 |
(3,661) |
||||||
|
Net decrease in cash and cash equivalents |
(181) |
(1,076) |
||||||
|
Cash and cash equivalents at the beginning of period |
857 |
2,036 |
||||||
|
Cash and cash equivalents at end of period |
$ |
676 |
$ |
960 |
||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||
|
EARNINGS VARIANCES | ||||||||||||||||||||
|
June 2016 QTD vs. Prior Year | ||||||||||||||||||||
|
($ per share) |
Regulated |
International |
Commercial |
Other |
Consolidated | |||||||||||||||
|
2015 QTD Reported Earnings Per Share, Diluted |
$ |
0.91 |
$ |
0.08 |
$ |
(0.05) |
$ |
(0.07) |
$ |
0.78 |
||||||||||
|
Costs to Achieve, Progress Merger |
— |
— |
— |
0.02 |
0.02 |
|||||||||||||||
|
Discontinued Operations |
0.06 |
0.15 |
||||||||||||||||||
|
2015 QTD Adjusted Earnings Per Share, Diluted |
$ |
0.91 |
$ |
0.08 |
$ |
0.01 |
$ |
(0.05) |
$ |
0.95 |
||||||||||
|
Weather |
(0.04) |
— |
— |
— |
(0.04) |
|||||||||||||||
|
Pricing and Riders (a) |
0.08 |
— |
— |
— |
0.08 |
|||||||||||||||
|
Volume |
— |
— |
— |
— |
— |
|||||||||||||||
|
Wholesale (b) |
0.03 |
— |
— |
— |
0.03 |
|||||||||||||||
|
Operations and Maintenance, net of recoverables (c) |
0.05 |
— |
— |
— |
0.05 |
|||||||||||||||
|
Latin America, including Foreign Exchange Rates (d) |
— |
0.03 |
— |
— |
0.03 |
|||||||||||||||
|
National Methanol Company |
— |
(0.02) |
— |
— |
(0.02) |
|||||||||||||||
|
Duke Energy Renewables, net of tax |
— |
— |
— |
— |
— |
|||||||||||||||
|
Commercial Transmission, Pipeline and Other (e) |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||
|
Interest Expense |
— |
— |
— |
(0.01) |
(0.01) |
|||||||||||||||
|
Change in effective income tax rate (f)(g) |
0.01 |
(0.02) |
— |
0.02 |
0.01 |
|||||||||||||||
|
Other |
— |
(0.01) |
— |
(0.01) |
(0.02) |
|||||||||||||||
|
2016 QTD Adjusted Earnings Per Share, Diluted |
$ |
1.04 |
$ |
0.06 |
$ |
0.02 |
$ |
(0.05) |
$ |
1.07 |
||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
(0.10) |
(0.10) |
|||||||||||||||
|
International Impairment |
— |
(0.21) |
— |
— |
(0.21) |
|||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
(0.02) |
(0.02) |
|||||||||||||||
|
2016 QTD Reported Earnings Per Share, Diluted |
$ |
1.04 |
$ |
(0.15) |
$ |
0.02 |
$ |
(0.17) |
$ |
0.74 |
||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate. | |
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | |
|
Note 3: Prior year amounts have been recast to conform with the new segment income measure. | |
|
(a) |
Primarily due to higher retail pricing due to lower volumes for Duke Energy Carolinas (+$0.02), the NCEMPA rider (+$0.02), higher energy efficiency recoveries in the Carolinas (+$0.02), and a prior year unfavorable regulatory order in Ohio related to energy efficiency (+$0.02). |
|
(b) |
Primarily due to the implementation of the new 30-year contract with NCEMPA. |
|
(c) |
Primarily due to lower outage costs and cost savings initiatives, partially offset by costs related to the NCEMPA asset purchase. |
|
(d) |
Primarily due to higher results in Brazil due to improved hydrology (+$0.04), partially offset by weaker foreign currency exchange rates (-$0.01). |
|
(e) |
Primarily due to increased investments in Atlantic Coast and Sabal Trail pipelines. |
|
(f) |
International Energy includes the impact of no longer asserting indefinite reinvestment of foreign earnings (-$0.01). |
|
(g) |
Other is driven by impacts of finalizing federal tax audits. |
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||
|
EARNINGS VARIANCES | ||||||||||||||||||||
|
June 2016 YTD vs. Prior Year | ||||||||||||||||||||
|
($ per share) |
Regulated |
International |
Commercial |
Other |
Consolidated | |||||||||||||||
|
2015 YTD Reported Earnings Per Share, Diluted |
$ |
2.01 |
$ |
0.13 |
$ |
(0.03) |
$ |
(0.14) |
$ |
2.01 |
||||||||||
|
Costs to Achieve, Progress Merger |
— |
— |
— |
0.04 |
0.04 |
|||||||||||||||
|
Midwest Generation Operations (offset in Discontinued Operations) |
— |
— |
0.13 |
— |
0.13 |
|||||||||||||||
|
Discontinued Operations |
0.06 |
0.02 |
||||||||||||||||||
|
2015 YTD Adjusted Earnings Per Share, Diluted |
$ |
2.01 |
$ |
0.13 |
$ |
0.16 |
$ |
(0.10) |
$ |
2.20 |
||||||||||
|
Stock repurchase (a) |
0.03 |
— |
— |
— |
0.03 |
|||||||||||||||
|
Weather |
(0.14) |
— |
— |
— |
(0.14) |
|||||||||||||||
|
Pricing and Riders (b) |
0.15 |
— |
— |
— |
0.15 |
|||||||||||||||
|
Volume |
(0.01) |
— |
— |
— |
(0.01) |
|||||||||||||||
|
Wholesale (c) |
0.05 |
— |
— |
— |
0.05 |
|||||||||||||||
|
Operations and Maintenance, net of recoverables (d) |
0.03 |
— |
— |
— |
0.03 |
|||||||||||||||
|
Latin America, including Foreign Exchange Rates (e) |
— |
0.06 |
— |
— |
0.06 |
|||||||||||||||
|
National Methanol Company |
— |
(0.03) |
— |
— |
(0.03) |
|||||||||||||||
|
Duke Energy Renewables, net of tax |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||
|
Commercial Transmission, Pipeline and Other (f) |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||
|
Midwest Generation, net of tax (g) |
— |
— |
(0.12) |
— |
(0.12) |
|||||||||||||||
|
Interest Expense |
— |
— |
— |
(0.02) |
(0.02) |
|||||||||||||||
|
Change in effective income tax rate (h) |
0.03 |
0.08 |
— |
(0.01) |
0.10 |
|||||||||||||||
|
Other (i) |
(0.10) |
— |
— |
(0.02) |
(0.12) |
|||||||||||||||
|
2016 YTD Adjusted Earnings Per Share, Diluted |
$ |
2.05 |
$ |
0.24 |
$ |
0.06 |
$ |
(0.15) |
$ |
2.20 |
||||||||||
|
Costs to Achieve, Mergers |
— |
(0.21) |
— |
— |
(0.21) |
|||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
(0.04) |
(0.04) |
|||||||||||||||
|
International Impairment |
— |
— |
— |
(0.21) |
(0.21) |
|||||||||||||||
|
2016 YTD Reported Earnings Per Share, Diluted |
$ |
2.05 |
$ |
0.03 |
$ |
0.06 |
$ |
(0.40) |
$ |
1.74 |
||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate. | |
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | |
|
Note 3: Prior year amounts have been recast to conform with the new segment income measure. | |
|
(a) |
Due to the decrease in common shares outstanding as a result of the Accelerated Stock Repurchase Program. Weighted average diluted shares outstanding decreased from 700 million shares for the six months ended June 30, 2015, to 689 million shares for the six months ended June 30, 2016. |
|
(b) |
Primarily due to higher retail pricing for Duke Energy Carolinas (+$0.05) driven by lower volumes, the NCEMPA rider (+$0.04), higher energy efficiency recoveries in the Carolinas (+$0.03), and a prior year unfavorable regulatory order in Ohio related to energy efficiency (+$0.02). |
|
(c) |
Primarily due to the implementation of the new 30-year contract with NCEMPA. |
|
(d) |
Primarily due to lower outage costs and cost savings initiatives, partially offset by increased storm restoration costs and costs related to the NCEMPA asset purchase. |
|
(e) |
Primarily due to higher results in Brazil due to improved hydrology (+$0.09), partially offset by weaker foreign currency exchange rates (-$0.02). |
|
(f) |
Primarily due to increased investments in Atlantic Coast and Sabal Trail pipelines. |
|
(g) |
Due to the absence of earnings from the nonregulated Midwest generation business, which was sold in April 2015. |
|
(h) |
International Energy includes lower income taxes resulting from the decision to divest the International Energy segment combined with more efficient utilization of foreign tax credits, net of the impact of no longer asserting indefinite reinvestment of foreign earnings. |
|
(i) |
Regulated Utilities includes increased depreciation and amortization expense (-$0.06) due to higher depreciable base including the NCEMPA asset purchase, and higher non-income taxes (-$0.04) primarily due to increased property taxes. |
|
Regulated Utilities | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
17,685 |
17,989 |
(1.7%) |
0.7% |
39,347 |
42,019 |
(6.4%) |
0.3% |
||||||||||||||||
|
General Service |
18,673 |
18,795 |
(0.6%) |
(0.2%) |
36,523 |
37,077 |
(1.5%) |
(0.8%) |
||||||||||||||||
|
Industrial |
13,021 |
13,105 |
(0.6%) |
(0.5%) |
25,293 |
25,369 |
(0.3%) |
—% |
||||||||||||||||
|
Other Energy Sales |
145 |
149 |
(2.7%) |
291 |
301 |
(3.3%) |
||||||||||||||||||
|
Unbilled Sales |
2,125 |
2,378 |
(10.6%) |
n/a |
1,781 |
1,332 |
33.7% |
n/a |
||||||||||||||||
|
Total Retail Sales |
51,649 |
52,416 |
(1.5%) |
—% |
103,235 |
106,098 |
(2.7%) |
(0.2%) |
||||||||||||||||
|
Special Sales |
10,536 |
8,582 |
22.8% |
21,681 |
18,101 |
19.8% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Regulated Utilities |
62,185 |
60,998 |
1.9% |
124,916 |
124,199 |
0.6% |
||||||||||||||||||
|
Average Number of Customers (Electric) |
||||||||||||||||||||||||
|
Residential |
6,438,062 |
6,348,277 |
1.4% |
6,431,744 |
6,345,413 |
1.4% |
||||||||||||||||||
|
General Service |
961,364 |
951,642 |
1.0% |
959,423 |
949,694 |
1.0% |
||||||||||||||||||
|
Industrial |
17,864 |
18,159 |
(1.6%) |
17,900 |
18,172 |
(1.5%) |
||||||||||||||||||
|
Other Energy Sales |
23,099 |
23,012 |
0.4% |
23,106 |
22,982 |
0.5% |
||||||||||||||||||
|
Total Regular Sales |
7,440,389 |
7,341,090 |
1.4% |
7,432,173 |
7,336,261 |
1.3% |
||||||||||||||||||
|
Special Sales |
65 |
61 |
6.6% |
64 |
64 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Regulated Utilities |
7,440,454 |
7,341,151 |
1.4% |
7,432,237 |
7,336,325 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
15,768 |
17,963 |
(12.2%) |
33,702 |
38,924 |
(13.4%) |
||||||||||||||||||
|
Nuclear |
18,609 |
16,722 |
11.3% |
36,608 |
34,111 |
7.3% |
||||||||||||||||||
|
Hydro |
324 |
439 |
(26.2%) |
1,371 |
934 |
46.8% |
||||||||||||||||||
|
Oil and Natural Gas |
14,784 |
15,250 |
(3.1%) |
30,867 |
29,521 |
4.6% |
||||||||||||||||||
|
Renewable Energy |
45 |
4 |
1,025.0% |
98 |
7 |
1,300.0% |
||||||||||||||||||
|
Total Generation (4) |
49,530 |
50,378 |
(1.7%) |
102,646 |
103,497 |
(0.8%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
16,139 |
13,842 |
16.6% |
28,652 |
27,226 |
5.2% |
||||||||||||||||||
|
Total Sources of Energy |
65,669 |
64,220 |
2.3% |
131,298 |
130,723 |
0.4% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
3,484 |
3,222 |
8.1% |
6,382 |
6,524 |
(2.2%) |
||||||||||||||||||
|
Total GWh Sources |
62,185 |
60,998 |
1.9% |
124,916 |
124,199 |
0.6% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
49,666 |
49,576 |
||||||||||||||||||||||
|
Winter |
52,837 |
52,831 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
93 |
||||||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Regulated Utilities | |||||||||||||||||||||
|
Quarterly Highlights | |||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||||||||||
|
June 2016 | |||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, |
||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
2016 |
2015 |
% Inc.(Dec.) |
||||||||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||||||||||
|
Carolinas - Actual |
|||||||||||||||||||||
|
Heating Degree Days |
189 |
150 |
26.0% |
1,777 |
2,054 |
(13.5%) |
|||||||||||||||
|
Cooling Degree Days |
573 |
632 |
(9.3%) |
601 |
636 |
(5.5%) |
|||||||||||||||
|
Variance from Normal |
|||||||||||||||||||||
|
Heating Degree Days |
(7.8%) |
(19.5%) |
n/a |
(6.6%) |
11.6% |
n/a |
|||||||||||||||
|
Cooling Degree Days |
12.8% |
15.3% |
n/a |
16.5% |
14.0% |
n/a |
|||||||||||||||
|
Midwest - Actual |
|||||||||||||||||||||
|
Heating Degree Days |
499 |
380 |
31.3% |
2,934 |
3,500 |
(16.2%) |
|||||||||||||||
|
Cooling Degree Days |
374 |
378 |
(1.1%) |
374 |
378 |
(1.1%) |
|||||||||||||||
|
Variance from Normal |
|||||||||||||||||||||
|
Heating Degree Days |
5.7% |
(10.4%) |
n/a |
(7.2%) |
14.6% |
n/a |
|||||||||||||||
|
Cooling Degree Days |
14.7% |
3.0% |
n/a |
13.3% |
1.3% |
n/a |
|||||||||||||||
|
Florida - Actual |
|||||||||||||||||||||
|
Heating Degree Days |
— |
— |
—% |
401 |
373 |
7.5% |
|||||||||||||||
|
Cooling Degree Days |
1,112 |
1,256 |
(11.5%) |
1,311 |
1,490 |
(12.0%) |
|||||||||||||||
|
Variance from Normal |
|||||||||||||||||||||
|
Heating Degree Days |
(100.0%) |
(100.0%) |
n/a |
1.1% |
(6.3%) |
n/a |
|||||||||||||||
|
Cooling Degree Days |
8.0% |
19.3% |
n/a |
7.9% |
21.6% |
n/a |
|||||||||||||||
|
Duke Energy Carolinas | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
5,671 |
5,754 |
(1.4%) |
13,251 |
14,232 |
(6.9%) |
||||||||||||||||||
|
General Service |
6,934 |
6,942 |
(0.1%) |
13,598 |
13,801 |
(1.5%) |
||||||||||||||||||
|
Industrial |
5,545 |
5,614 |
(1.2%) |
10,623 |
10,689 |
(0.6%) |
||||||||||||||||||
|
Other Energy Sales |
76 |
76 |
—% |
152 |
153 |
(0.7%) |
||||||||||||||||||
|
Unbilled Sales |
685 |
843 |
(18.7%) |
690 |
354 |
94.9% |
||||||||||||||||||
|
Total Regular Electric Sales |
18,911 |
19,229 |
(1.7%) |
(0.4%) |
38,314 |
39,229 |
(2.3%) |
(0.1%) |
||||||||||||||||
|
Special Sales |
1,846 |
2,077 |
(11.1%) |
4,068 |
4,545 |
(10.5%) |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Carolinas |
20,757 |
21,306 |
(2.6%) |
42,382 |
43,774 |
(3.2%) |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
2,143,608 |
2,112,443 |
1.5% |
2,141,071 |
2,110,556 |
1.4% |
||||||||||||||||||
|
General Service |
348,878 |
344,865 |
1.2% |
348,103 |
344,029 |
1.2% |
||||||||||||||||||
|
Industrial |
6,301 |
6,446 |
(2.2%) |
6,317 |
6,459 |
(2.2%) |
||||||||||||||||||
|
Other Energy Sales |
15,153 |
14,993 |
1.1% |
15,143 |
14,974 |
1.1% |
||||||||||||||||||
|
Total Regular Sales |
2,513,940 |
2,478,747 |
1.4% |
2,510,634 |
2,476,018 |
1.4% |
||||||||||||||||||
|
Special Sales |
25 |
24 |
4.2% |
24 |
25 |
(4.0%) |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Carolinas |
2,513,965 |
2,478,771 |
1.4% |
2,510,658 |
2,476,043 |
1.4% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
5,082 |
5,695 |
(10.8%) |
10,661 |
13,530 |
(21.2%) |
||||||||||||||||||
|
Nuclear |
10,809 |
11,803 |
(8.4%) |
21,802 |
23,119 |
(5.7%) |
||||||||||||||||||
|
Hydro |
112 |
219 |
(48.9%) |
837 |
476 |
75.8% |
||||||||||||||||||
|
Oil and Natural Gas |
2,691 |
2,758 |
(2.4%) |
5,677 |
4,991 |
13.7% |
||||||||||||||||||
|
Renewable Energy |
4 |
4 |
—% |
7 |
7 |
— |
||||||||||||||||||
|
Total Generation (4) |
18,698 |
20,479 |
(8.7%) |
38,984 |
42,123 |
(7.5%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
3,448 |
2,135 |
61.5% |
6,067 |
4,257 |
42.5% |
||||||||||||||||||
|
Total Sources of Energy |
22,146 |
22,614 |
(2.1%) |
45,051 |
46,380 |
(2.9%) |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
1,389 |
1,308 |
6.2% |
2,669 |
2,606 |
2.4% |
||||||||||||||||||
|
Total GWh Sources |
20,757 |
21,306 |
(2.6%) |
42,382 |
43,774 |
(3.2%) |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
19,678 |
19,645 |
||||||||||||||||||||||
|
Winter |
20,383 |
20,357 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
98 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
200 |
163 |
22.7% |
1,861 |
2,104 |
(11.5%) |
||||||||||||||||||
|
Cooling Degree Days |
570 |
623 |
(8.5%) |
589 |
624 |
(5.6%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(9.5%) |
(18.9%) |
n/a |
(6.3%) |
9.7% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
17.3% |
18.7% |
n/a |
19.6% |
16.9% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Progress | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
3,597 |
3,673 |
(2.1%) |
8,597 |
9,440 |
(8.9%) |
||||||||||||||||||
|
General Service |
3,680 |
3,688 |
(0.2%) |
7,340 |
7,437 |
(1.3%) |
||||||||||||||||||
|
Industrial |
2,547 |
2,565 |
(0.7%) |
4,986 |
5,002 |
(0.3%) |
||||||||||||||||||
|
Other Energy Sales |
22 |
27 |
(18.5%) |
46 |
55 |
(16.4%) |
||||||||||||||||||
|
Unbilled Sales |
345 |
570 |
(39.5%) |
210 |
129 |
62.8% |
||||||||||||||||||
|
Total Regular Electric Sales |
10,191 |
10,523 |
(3.2%) |
(1.3%) |
21,179 |
22,063 |
(4.0%) |
(0.5%) |
||||||||||||||||
|
Special Sales |
6,638 |
4,429 |
49.9% |
12,799 |
9,654 |
32.6% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Progress |
16,829 |
14,952 |
12.6% |
33,978 |
31,717 |
7.1% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,289,306 |
1,271,806 |
1.4% |
1,287,593 |
1,270,438 |
1.4% |
||||||||||||||||||
|
General Service |
228,717 |
225,735 |
1.3% |
228,120 |
225,073 |
1.4% |
||||||||||||||||||
|
Industrial |
4,137 |
4,229 |
(2.2%) |
4,148 |
4,229 |
(1.9%) |
||||||||||||||||||
|
Other Energy Sales |
1,542 |
1,690 |
(8.8%) |
1,571 |
1,689 |
(7.0%) |
||||||||||||||||||
|
Total Regular Sales |
1,523,702 |
1,503,460 |
1.3% |
1,521,432 |
1,501,429 |
1.3% |
||||||||||||||||||
|
Special Sales |
15 |
15 |
—% |
15 |
15 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Progress |
1,523,717 |
1,503,475 |
1.3% |
1,521,447 |
1,501,444 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
2,328 |
3,340 |
(30.3%) |
4,435 |
7,344 |
(39.6%) |
||||||||||||||||||
|
Nuclear |
7,800 |
4,919 |
58.6% |
14,806 |
10,992 |
34.7% |
||||||||||||||||||
|
Hydro |
125 |
152 |
(17.8%) |
378 |
334 |
13.2% |
||||||||||||||||||
|
Oil and Natural Gas |
5,623 |
5,505 |
2.1% |
12,095 |
11,326 |
6.8% |
||||||||||||||||||
|
Renewable Energy |
41 |
— |
n/a |
91 |
— |
n/a |
||||||||||||||||||
|
Total Generation (4) |
15,917 |
13,916 |
14.4% |
31,805 |
29,996 |
6.0% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,497 |
1,666 |
(10.1%) |
3,262 |
3,180 |
2.6% |
||||||||||||||||||
|
Total Sources of Energy |
17,414 |
15,582 |
11.8% |
35,067 |
33,176 |
5.7% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
585 |
630 |
(7.1%) |
1,089 |
1,459 |
(25.4%) |
||||||||||||||||||
|
Total GWh Sources |
16,829 |
14,952 |
12.6% |
33,978 |
31,717 |
7.1% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
12,935 |
12,222 |
||||||||||||||||||||||
|
Winter |
14,034 |
13,319 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
83 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
179 |
136 |
31.6% |
1,693 |
2,003 |
(15.5%) |
||||||||||||||||||
|
Cooling Degree Days |
576 |
641 |
(10.1%) |
612 |
648 |
(5.6%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(5.3%) |
(19.0%) |
n/a |
(6.9%) |
13.6% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
8.7% |
12.5% |
n/a |
13.3% |
11.5% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Florida | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
4,872 |
4,944 |
(1.5%) |
9,045 |
9,048 |
—% |
||||||||||||||||||
|
General Service |
3,820 |
3,857 |
(1.0%) |
7,061 |
7,092 |
(0.4%) |
||||||||||||||||||
|
Industrial |
812 |
821 |
(1.1%) |
1,564 |
1,581 |
(1.1%) |
||||||||||||||||||
|
Other Energy Sales |
6 |
6 |
—% |
12 |
12 |
—% |
||||||||||||||||||
|
Unbilled Sales |
669 |
679 |
(1.5%) |
658 |
793 |
(17.0%) |
||||||||||||||||||
|
Total Regular Electric Sales |
10,179 |
10,307 |
(1.2%) |
2.2% |
18,340 |
18,526 |
(1.0%) |
1.0% |
||||||||||||||||
|
Special Sales |
467 |
495 |
(5.7%) |
762 |
749 |
1.7% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Florida |
10,646 |
10,802 |
(1.4%) |
19,102 |
19,275 |
(0.9%) |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,546,606 |
1,521,460 |
1.7% |
1,544,081 |
1,518,985 |
1.7% |
||||||||||||||||||
|
General Service |
195,356 |
193,278 |
1.1% |
195,032 |
192,919 |
1.1% |
||||||||||||||||||
|
Industrial |
2,182 |
2,245 |
(2.8%) |
2,192 |
2,251 |
(2.6%) |
||||||||||||||||||
|
Other Energy Sales |
1,536 |
1,537 |
(0.1%) |
1,536 |
1,539 |
(0.2%) |
||||||||||||||||||
|
Total Regular Sales |
1,745,680 |
1,718,520 |
1.6% |
1,742,841 |
1,715,694 |
1.6% |
||||||||||||||||||
|
Special Sales |
15 |
14 |
7.1% |
15 |
15 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Florida |
1,745,695 |
1,718,534 |
1.6% |
1,742,856 |
1,715,709 |
1.6% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
2,331 |
3,044 |
(23.4%) |
3,782 |
5,197 |
(27.2%) |
||||||||||||||||||
|
Oil and Natural Gas |
5,638 |
6,430 |
(12.3%) |
11,761 |
11,913 |
(1.3%) |
||||||||||||||||||
|
Total Generation (4) |
7,969 |
9,474 |
(15.9%) |
15,543 |
17,110 |
(9.2%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
3,130 |
1,910 |
63.9% |
4,639 |
3,294 |
40.8% |
||||||||||||||||||
|
Total Sources of Energy |
11,099 |
11,384 |
(2.5%) |
20,182 |
20,404 |
(1.1%) |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
453 |
582 |
(22.2%) |
1,080 |
1,129 |
(4.3%) |
||||||||||||||||||
|
Total GWh Sources |
10,646 |
10,802 |
(1.4%) |
19,102 |
19,275 |
(0.9%) |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
8,848 |
9,154 |
||||||||||||||||||||||
|
Winter |
9,735 |
10,120 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
— |
— |
—% |
401 |
373 |
7.5% |
||||||||||||||||||
|
Cooling Degree Days |
1,112 |
1,256 |
(11.5%) |
1,311 |
1,490 |
(12.0%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(100.0%) |
(100.0%) |
n/a |
1.1% |
(6.3%) |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
8.0% |
19.3% |
n/a |
7.9% |
21.6% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,747 |
1,811 |
(3.5%) |
4,067 |
4,492 |
(9.5%) |
||||||||||||||||||
|
General Service |
2,278 |
2,315 |
(1.6%) |
4,575 |
4,678 |
(2.2%) |
||||||||||||||||||
|
Industrial |
1,457 |
1,479 |
(1.5%) |
2,901 |
2,927 |
(0.9%) |
||||||||||||||||||
|
Other Energy Sales |
28 |
26 |
7.7% |
55 |
54 |
1.9% |
||||||||||||||||||
|
Unbilled Sales |
212 |
182 |
16.5% |
120 |
49 |
144.9% |
||||||||||||||||||
|
Total Regular Electric Sales |
5,722 |
5,813 |
(1.6%) |
(1.0%) |
11,718 |
12,200 |
(4.0%) |
(1.3%) |
||||||||||||||||
|
Special Sales |
74 |
420 |
(82.4%) |
185 |
800 |
(76.9%) |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Ohio |
5,796 |
6,233 |
(7.0%) |
11,903 |
13,000 |
(8.4%) |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
752,249 |
746,005 |
0.8% |
752,718 |
746,812 |
0.8% |
||||||||||||||||||
|
General Service |
87,543 |
87,200 |
0.4% |
87,491 |
87,187 |
0.3% |
||||||||||||||||||
|
Industrial |
2,517 |
2,530 |
(0.5%) |
2,523 |
2,534 |
(0.4%) |
||||||||||||||||||
|
Other Energy Sales |
3,254 |
3,218 |
1.1% |
3,250 |
3,212 |
1.2% |
||||||||||||||||||
|
Total Regular Sales |
845,563 |
838,953 |
0.8% |
845,982 |
839,745 |
0.7% |
||||||||||||||||||
|
Special Sales |
1 |
1 |
—% |
1 |
1 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Ohio |
845,564 |
838,954 |
0.8% |
845,983 |
839,746 |
0.7% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
536 |
1,168 |
(54.1%) |
1,464 |
2,388 |
(38.7%) |
||||||||||||||||||
|
Oil and Natural Gas |
10 |
10 |
—% |
11 |
30 |
(63.3%) |
||||||||||||||||||
|
Total Generation (4) |
546 |
1,178 |
(53.7%) |
1,475 |
2,418 |
(39.0%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
5,931 |
5,496 |
7.9% |
11,486 |
11,446 |
0.3% |
||||||||||||||||||
|
Total Sources of Energy |
6,477 |
6,674 |
(3.0%) |
12,961 |
13,864 |
(6.5%) |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
681 |
441 |
54.4% |
1,058 |
864 |
22.5% |
||||||||||||||||||
|
Total GWh Sources |
5,796 |
6,233 |
(7.0%) |
11,903 |
13,000 |
(8.4%) |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
1,062 |
1,062 |
||||||||||||||||||||||
|
Winter |
1,164 |
1,164 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
475 |
348 |
36.5% |
2,824 |
3,310 |
(14.7%) |
||||||||||||||||||
|
Cooling Degree Days |
372 |
391 |
(4.9%) |
372 |
391 |
(4.9%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
5.8% |
(14.5%) |
n/a |
(7.2%) |
12.1% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
14.5% |
7.7% |
n/a |
13.3% |
6.3% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Gas Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
MCF Sales (1) |
||||||||||||||||||||||||
|
Residential |
4,930,088 |
5,052,315 |
(2.4%) |
21,627,643 |
27,231,220 |
(20.6%) |
||||||||||||||||||
|
General Service |
3,487,618 |
3,553,999 |
(1.9%) |
13,567,296 |
16,625,080 |
(18.4%) |
||||||||||||||||||
|
Industrial |
1,404,742 |
1,335,427 |
5.2% |
3,882,745 |
4,411,288 |
(12.0%) |
||||||||||||||||||
|
Other Energy Sales |
4,988,355 |
4,538,714 |
9.9% |
10,813,639 |
10,754,865 |
0.5% |
||||||||||||||||||
|
Unbilled Sales |
(2,096,677) |
(2,892,000) |
27.5% |
(2,435,677) |
(3,245,000) |
24.9% |
||||||||||||||||||
|
Total Gas Sales - Duke Energy Ohio |
12,714,126 |
11,588,455 |
9.7% |
6.2% |
47,455,646 |
55,777,453 |
(14.9%) |
(7.7%) |
||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
477,813 |
474,973 |
0.6% |
479,166 |
476,554 |
0.5% |
||||||||||||||||||
|
General Service |
42,898 |
43,003 |
(0.2%) |
44,061 |
44,171 |
(0.2%) |
||||||||||||||||||
|
Industrial |
1,601 |
1,604 |
(0.2%) |
1,650 |
1,655 |
(0.3%) |
||||||||||||||||||
|
Other Energy Sales |
143 |
143 |
—% |
143 |
144 |
(0.7%) |
||||||||||||||||||
|
Total Average Number of Gas Customers - Duke |
522,455 |
519,723 |
0.5% |
525,020 |
522,524 |
0.5% |
||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
475 |
348 |
36.5% |
2,824 |
3,310 |
(14.7%) |
||||||||||||||||||
|
Cooling Degree Days |
372 |
391 |
(4.9%) |
372 |
391 |
(4.9%) |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
5.8% |
(14.5%) |
n/a |
(7.2%) |
12.1% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
14.5% |
7.7% |
n/a |
13.3% |
6.3% |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
Duke Energy Indiana | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
June 2016 | ||||||||||||||||||||||||
|
Three Months Ended June 30, |
Six Months Ended June 30, | |||||||||||||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) |
2016 |
2015 |
% Inc.(Dec.) |
% Inc. Weather Normal (2) | |||||||||||||||||
|
GWh Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,798 |
1,807 |
(0.5%) |
4,387 |
4,807 |
(8.7%) |
||||||||||||||||||
|
General Service |
1,961 |
1,993 |
(1.6%) |
3,949 |
4,069 |
(2.9%) |
||||||||||||||||||
|
Industrial |
2,660 |
2,626 |
1.3% |
5,219 |
5,170 |
0.9% |
||||||||||||||||||
|
Other Energy Sales |
13 |
14 |
(7.1%) |
26 |
27 |
(3.7%) |
||||||||||||||||||
|
Unbilled Sales |
214 |
104 |
105.8% |
103 |
7 |
1,371.4% |
||||||||||||||||||
|
Total Regular Electric Sales |
6,646 |
6,544 |
1.6% |
0.8% |
13,684 |
14,080 |
(2.8%) |
(0.6%) |
||||||||||||||||
|
Special Sales |
1,511 |
1,161 |
30.1% |
3,867 |
2,353 |
64.3% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Indiana |
8,157 |
7,705 |
5.9% |
17,551 |
16,433 |
6.8% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
706,293 |
696,563 |
1.4% |
706,281 |
698,622 |
1.1% |
||||||||||||||||||
|
General Service |
100,870 |
100,564 |
0.3% |
100,677 |
100,486 |
0.2% |
||||||||||||||||||
|
Industrial |
2,727 |
2,709 |
0.7% |
2,720 |
2,699 |
0.8% |
||||||||||||||||||
|
Other Energy Sales |
1,614 |
1,574 |
2.5% |
1,606 |
1,568 |
2.4% |
||||||||||||||||||
|
Total Regular Sales |
811,504 |
801,410 |
1.3% |
811,284 |
803,375 |
1.0% |
||||||||||||||||||
|
Special Sales |
9 |
7 |
28.6% |
9 |
8 |
12.5% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Indiana |
811,513 |
801,417 |
1.3% |
811,293 |
803,383 |
1.0% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
5,491 |
4,716 |
16.4% |
13,360 |
10,465 |
27.7% |
||||||||||||||||||
|
Hydro |
87 |
68 |
27.9% |
156 |
124 |
25.8% |
||||||||||||||||||
|
Oil and Natural Gas |
822 |
547 |
50.3% |
1,323 |
1,261 |
4.9% |
||||||||||||||||||
|
Total Generation (4) |
6,400 |
5,331 |
20.1% |
14,839 |
11,850 |
25.2% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,133 |
2,635 |
(19.1%) |
3,198 |
5,049 |
(36.7%) |
||||||||||||||||||
|
Total Sources of Energy |
8,533 |
7,966 |
7.1% |
18,037 |
16,899 |
6.7% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
376 |
261 |
44.1% |
486 |
466 |
4.3% |
||||||||||||||||||
|
Total GWh Sources |
8,157 |
7,705 |
5.9% |
17,551 |
16,433 |
6.8% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
7,143 |
7,493 |
||||||||||||||||||||||
|
Winter |
7,521 |
7,871 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
522 |
411 |
27.0% |
3,043 |
3,689 |
(17.5%) |
||||||||||||||||||
|
Cooling Degree Days |
376 |
364 |
3.3% |
376 |
364 |
3.3% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
6.1% |
(7.0%) |
n/a |
(7.0%) |
16.9% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
14.6% |
(1.4%) |
n/a |
13.4% |
(2.9%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||
|
REPORTED TO ADJUSTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||||||
|
Three Months Ended June 30, 2016 | ||||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||
|
Reported |
Costs to |
International |
Cost Savings |
Discontinued |
Total |
Adjusted | ||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
718 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
718 |
||||||||||||||
|
International Energy |
(102) |
— |
145 |
B |
— |
— |
145 |
43 |
||||||||||||||||||||
|
Commercial Portfolio |
14 |
— |
— |
— |
— |
— |
14 |
|||||||||||||||||||||
|
Total Reportable Segment Income |
630 |
— |
145 |
— |
— |
145 |
775 |
|||||||||||||||||||||
|
Other |
(120) |
69 |
A |
— |
15 |
C |
— |
84 |
(36) |
|||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
510 |
69 |
145 |
15 |
— |
229 |
739 |
|||||||||||||||||||||
|
Discontinued Operations |
(1) |
— |
— |
— |
1 |
D |
1 |
— |
||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
509 |
$ |
69 |
$ |
145 |
$ |
15 |
$ |
1 |
$ |
230 |
$ |
739 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
0.74 |
$ |
0.10 |
$ |
0.21 |
$ |
0.02 |
$ |
— |
$ |
0.33 |
$ |
1.07 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
0.74 |
$ |
0.10 |
$ |
0.21 |
$ |
0.02 |
$ |
— |
$ |
0.33 |
$ |
1.07 |
||||||||||||||
|
A - |
Net of $42 million tax benefit. Includes $28 million recorded within Operating Expenses and $83 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. The interest expense is primarily mark-to-market losses related to forward-starting interest rate swaps utilized to manage interest rate exposure for the expected financing of the Piedmont acquisition. | |||||||||||
|
B - |
Net of $49 million tax benefit. Impairment of certain assets in Central America recorded within Impairment Charges on the Condensed Consolidated Statements of Operations. | |||||||||||
|
C - |
Net of $9 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. | |||||||||||
|
D - |
Recorded in (Loss) Income From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | |||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||
|
Basic |
689 |
|||||||||||
|
Diluted |
690 |
|||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||
|
REPORTED TO ADJUSTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||||||
|
Six Months Ended June 30, 2016 | ||||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||
|
Reported |
Costs to |
International |
Cost Savings |
Discontinued |
Total |
Adjusted | ||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
1,413 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
1,413 |
||||||||||||||
|
International Energy |
21 |
— |
145 |
B |
— |
— |
145 |
166 |
||||||||||||||||||||
|
Commercial Portfolio |
41 |
— |
— |
— |
— |
— |
41 |
|||||||||||||||||||||
|
Total Reportable Segment Income |
1,475 |
— |
145 |
— |
— |
145 |
1,620 |
|||||||||||||||||||||
|
Other |
(274) |
143 |
A |
— |
27 |
C |
— |
170 |
(104) |
|||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
1,201 |
143 |
145 |
27 |
— |
315 |
1,516 |
|||||||||||||||||||||
|
Discontinued Operations |
2 |
— |
— |
— |
(2) |
D |
(2) |
— |
||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
1,203 |
$ |
143 |
$ |
145 |
$ |
27 |
$ |
(2) |
$ |
313 |
$ |
1,516 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
1.74 |
$ |
0.21 |
$ |
0.21 |
$ |
0.04 |
$ |
— |
$ |
0.46 |
$ |
2.20 |
||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.74 |
$ |
0.21 |
$ |
0.21 |
$ |
0.04 |
$ |
— |
$ |
0.46 |
$ |
2.20 |
||||||||||||||
|
A - |
Net of $88 million tax benefit. Includes $1 million recorded within Operating Revenues, $47 million recorded within Operating Expenses and $183 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. The interest expense is primarily mark-to-market losses related to forward-starting interest rate swaps utilized to manage interest rate exposure for the expected financing of the Piedmont acquisition. | |||||||||||
|
B - |
Net of $49 million tax benefit. Impairment of certain assets in Central America recorded within Impairment Charges on the Condensed Consolidated Statements of Operations. | |||||||||||
|
C - |
Net of $17 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. | |||||||||||
|
D - |
Recorded in (Loss) Income From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | |||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||
|
Basic |
689 |
|||||||||||
|
Diluted |
689 |
|||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||
|
REPORTED TO ADJUSTED EARNINGS RECONCILIATION | ||||||||||||||||||||
|
Three Months Ended June 30, 2015 | ||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||
|
Special Items |
||||||||||||||||||||
|
Reported |
Costs to |
Discontinued |
Total |
Adjusted | ||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||
|
Regulated Utilities |
$ |
632 |
$ |
— |
$ |
— |
$ |
— |
$ |
632 |
||||||||||
|
International Energy |
52 |
— |
— |
— |
52 |
|||||||||||||||
|
Commercial Portfolio |
(30) |
— |
41 |
D |
41 |
11 |
||||||||||||||
|
Total Reportable Segment Income |
654 |
— |
41 |
41 |
695 |
|||||||||||||||
|
Other |
(51) |
14 |
A |
— |
14 |
(37) |
||||||||||||||
|
Intercompany Eliminations |
(3) |
— |
3 |
C |
3 |
— |
||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
600 |
14 |
44 |
58 |
658 |
|||||||||||||||
|
Discontinued Operations |
(57) |
— |
57 |
B |
57 |
— |
||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
543 |
$ |
14 |
$ |
101 |
$ |
115 |
$ |
658 |
||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
0.78 |
$ |
0.02 |
$ |
0.15 |
$ |
0.17 |
$ |
0.95 |
||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
0.78 |
$ |
0.02 |
$ |
0.15 |
$ |
0.17 |
$ |
0.95 |
||||||||||
|
A - |
Net of $8 million tax benefit. Recorded within Operating Expenses on the Condensed Consolidated Statements of Operations. | |||||||||||
|
B - |
Recorded in (Loss) Income From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations, and includes the impact of a litigation reserve related to the nonregulated Midwest generation business. | |||||||||||
|
C - |
Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | |||||||||||
|
D - |
State tax expense resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||
|
Basic |
692 |
|||||||||||
|
Diluted |
692 |
|||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||
|
REPORTED TO ADJUSTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||
|
Six Months Ended June 30, 2015 | ||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||
|
Reported |
Costs to |
Midwest |
Discontinued |
Total |
Adjusted | |||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||
|
Regulated Utilities |
$ |
1,406 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
1,406 |
||||||||||||
|
International Energy |
88 |
— |
— |
— |
— |
88 |
||||||||||||||||||
|
Commercial Portfolio |
(23) |
— |
94 |
B |
41 |
E |
135 |
112 |
||||||||||||||||
|
Total Reportable Segment Income |
1,471 |
— |
94 |
41 |
135 |
1,606 |
||||||||||||||||||
|
Other |
(94) |
27 |
A |
— |
— |
27 |
(67) |
|||||||||||||||||
|
Intercompany Eliminations |
(4) |
— |
— |
4 |
D |
4 |
— |
|||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
1,373 |
27 |
94 |
45 |
166 |
1,539 |
||||||||||||||||||
|
Discontinued Operations |
34 |
— |
(94) |
B |
60 |
C |
(34) |
— |
||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
1,407 |
$ |
27 |
$ |
— |
$ |
105 |
$ |
132 |
$ |
1,539 |
||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
2.01 |
$ |
0.04 |
$ |
— |
$ |
0.15 |
$ |
0.19 |
$ |
2.20 |
||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
2.01 |
$ |
0.04 |
$ |
— |
$ |
0.15 |
$ |
0.19 |
$ |
2.20 |
||||||||||||
|
A - |
Net of $16 million tax benefit. Recorded within Operating Expenses on the Condensed Consolidated Statements of Operations. | |||||||||||
|
B - |
Operating results of the nonregulated Midwest generation business that had been classified from discontinued operations after adjustment for special items and economic hedges (net of $53 million tax benefit). | |||||||||||
|
C - |
Recorded in (Loss) Income From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations, and includes the impact of a litigation reserve related to the nonregulated Midwest generation business. | |||||||||||
|
D - |
Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | |||||||||||
|
E - |
State tax expense resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||
|
Basic |
700 |
|||||||||||
|
Diluted |
700 |
|||||||||||
|
DUKE ENERGY CORPORATION | |||||||||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION | |||||||||||||||
|
Three and Six Months Ended June 30, 2016 | |||||||||||||||
|
(Dollars in Millions) | |||||||||||||||
|
Three Months Ended |
Six Months Ended |
||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate |
||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
752 |
$ |
1,661 |
|||||||||||
|
Costs to Achieve, Mergers |
111 |
231 |
|||||||||||||
|
International Impairment |
194 |
194 |
|||||||||||||
|
Cost Savings Initiatives |
24 |
44 |
|||||||||||||
|
Noncontrolling interests |
(3) |
(8) |
|||||||||||||
|
Adjusted Pretax Income |
$ |
1,078 |
$ |
2,122 |
|||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
239 |
31.8% |
$ |
452 |
27.2% |
|||||||||
|
Costs to Achieve, Mergers |
42 |
88 |
|||||||||||||
|
International Impairment |
49 |
49 |
|||||||||||||
|
Cost Savings Initiatives |
9 |
17 |
|||||||||||||
|
Adjusted Tax Expense |
$ |
339 |
31.4% |
* |
$ |
606 |
28.6% |
* |
|||||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. | |||||||||||||||
|
DUKE ENERGY CORPORATION | |||||||||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION | |||||||||||||||
|
Three and Six Months Ended June 30, 2015 | |||||||||||||||
|
(Dollars in Millions) | |||||||||||||||
|
Three Months Ended |
Six Months Ended |
||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate |
||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
938 |
$ |
2,078 |
|||||||||||
|
Costs to Achieve, Progress Energy Merger |
22 |
43 |
|||||||||||||
|
Midwest Generation Operations |
— |
147 |
|||||||||||||
|
Noncontrolling Interests |
(4) |
(7) |
|||||||||||||
|
Intercompany Eliminations |
2 |
4 |
|||||||||||||
|
Adjusted Pretax Income |
$ |
958 |
$ |
2,265 |
|||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
334 |
35.6% |
$ |
698 |
33.6% |
|||||||||
|
Tax Adjustment Related to Midwest Generation Sale |
(41) |
(41) |
|||||||||||||
|
Midwest Generation Operations |
— |
53 |
|||||||||||||
|
Costs to Achieve, Progress Energy Merger |
8 |
16 |
|||||||||||||
|
Intercompany Eliminations |
(1) |
— |
|||||||||||||
|
Adjusted Tax Expense |
$ |
300 |
31.3% |
* |
$ |
726 |
32.1% |
* |
|||||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. | |||||||||||||||
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
8/4/2016Duke Energy Renewables completes the final Los Vientos wind project in Texas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 3, 2016 /PRNewswire/ -- The 426th turbine of the Los Vientos wind power projects is now spinning and serving customers near the Rio Grande in Starr County, Texas.
It marks the completion of Los Vientos IV, the last of the five area projects to begin operation.
Duke Energy Renewables has installed more than 1,500 MW of wind energy in Texas, more than double its owned wind capacity in other states combined.
"Four years ago, we first began capturing the winds off the gulf with Los Vientos I and II in Willacy County," said Rob Caldwell, president, Duke Energy Renewables and Distributed Energy Technology. "Since then, we've brought three other Los Vientos wind projects on line, delivering 900 MW of clean energy to South Texas.
"With 500 MW of that total in Starr County, we'd like to thank county leaders and our business partners for helping us deliver clean, low-cost renewable energy to south Texas customers and provide economic benefits to this region."
"Duke Energy has been a great partner and member of our community," said Eloy Vera, Starr County Judge. "We look forward to continuing with them to provide more wind farm opportunities for our residences."
The Los Vientos projects generate the majority of their power during the day, when customer demand is greatest.
Austin Energy is purchasing the power and associated renewable energy credits from the 200-MW Los Vientos IV wind farm under a 25-year agreement, increasing its total output purchased from Duke Energy Renewables to more than 665 MW.
Los Vientos IV is located approximately 35 miles northwest of McAllen, near Rio Grande City.
Vestas supplied 100 V110-2.0 MW turbines for Los Vientos IV and will service the project under a three-year operations and maintenance agreement.
"With the turbines installed at Los Vientos IV, Vestas crossed a historic milestone -- 75 gigawatts installed in 75 countries. We're especially proud to have accomplished this on the Los Vientos IV project, a testament to our valued partnership with Duke Energy, a demonstrated renewable energy leader," said Chris Brown, president of Vestas' sales and service division in the United States and Canada.
The facility was constructed by Wanzek Construction. Amshore US Wind provided development support for the project.
Duke Energy Renewables' projects in Texas: 1,563 MW
News editors
Link to photographs of the Los Vientos projects
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes approximately 20 wind projects and more than 40 solar facilities in operation in roughly a dozen states, totaling about 2,700 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
About Austin Energy
Austin Energy is a municipal electric utility, owned and operated by the City of Austin, Texas, engaged in the generation, distribution, and transmission of electricity to more than 440,000 residential, commercial and industrial customers in Travis and Williamson Counties, Texas.
Austin Energy's governing body is the City Council of Austin. Austin Energy has approximately 4,400 MW of generation capacity, either wholly owned or subject to long-term Power Purchase Agreements. This diverse portfolio includes nuclear, coal, natural gas, biomass, wind, and solar.
About Vestas
Since 1979, Vestas has supplied about 50,000 wind turbines and over 57 GW in 73 countries — 62 percent more than its closest competitor. Vestas entered the U.S. market in 1981, selling its first wind turbine for a project in California. Since then, the company has delivered 12,396 turbines to the United States and 1,419 to Canada. Combined, Vestas' installed capacity is 13,387 MW in 28 U.S. states and every Canadian province — enough to power about four million households. Vestas employs about 2,500 people throughout the United States and Canada at four manufacturing facilities in Colorado, service and construction sites, and sales offices. Vestas' U.S. and Canadian sales and service headquarters is in Portland, Ore., and its global headquarters is in Aarhus, Denmark. To learn more, visit www.vestas.com.
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Media contact: Tammie McGee
800.559.3853
SOURCE Duke Energy
Article Date
8/3/2016Duke Energy Carolinas customers set summertime record for electricity use
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Aug. 1, 2016 /PRNewswire/ -- Duke Energy Carolinas customers in North Carolina and South Carolina set a summertime record for electricity usage this week as the region's lingering heat wave drove up energy demand.
The new summer peak usage record is 20,671 megawatt-hours of electricity for the hour ending at 5 p.m., Wednesday, July 27, 2016 – exceeding the previous summertime record of 20,628 megawatts-hours, set on Aug. 8, 2007.
The all-time Duke Energy Carolinas record – covering both summer and winter seasons – remains 21,101 megawatt-hours, set on Feb. 20, 2015.
Temperatures have reached above 90 degrees in the Carolinas every day for more than a week, often hovering in the mid- to upper-90s.
Duke Energy is closely monitoring the electric system to ensure its customers continue to receive reliable power during the extended hot weather period.
"We have sufficient supplies of electricity to meet our customers' needs, and our technicians are working around the clock to ensure smooth operations at our power plants and along our power lines," said Nelson Peeler, Duke Energy vice president of system planning and operations.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
8/1/20167/28/2016 - Duke Energy Renewables Control Center crosses 3,500-megawatt milestone; adds more capabilities
Duke Energy Renewables Control Center crosses 3,500-megawatt milestone; adds more capabilities
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, July 28, 2016 /PRNewswire/ -- Duke Energy Renewables today announced its control center now serves more than 3,500 megawatts of wind and solar energy plants across the U.S. since it opened in its new location in 2015.
As a result of this rapid growth, the center is further enhancing its cyber security and other capabilities.
"The expanded Renewable Control Center (RCC) is at the heart of our growing renewable operations across the U.S.," said Rob Caldwell, president, Duke Energy Renewables & Distributed Energy Technology. "The enhanced RCC increases our ability to safely and reliably operate wind and solar plants across the country and maximizes the performance of our assets and those of our third-party customers."
The RCC oversees Duke Energy Renewables' more than 2,500 megawatts (MW) of wind, solar and battery installations located in 12 states. It also serves another 1,000 MW of renewable energy plants owned by third-party generators.
The center is registered as a generator-operator with the North American Electric Reliability Corporation (NERC) and is implementing additional cyber security controls this year to meet NERC's Critical Infrastructure Protection (CIP) requirements. This certification raises the security standards for both physical and cyber assets and will be completed by year-end.
State-of-the-art RCC can save customers money and improve performance
"The RCC greatly enhances our boots-on-the-ground operations, maintenance and safety offerings to other renewable energy operators," said Jeff Wehner, vice president of Duke Energy Renewable Operations.
"We're now able to offer both our expertise as owner-operators and the advanced technology and security of a CIP-compliant control center to others in the renewable industry," he added. "This gives them access to a proven operator without having to invest the time and money to build a control center of their own."
RCC operators are familiar with the requirements of U.S. transmission operators, including both regional transmission organizations and independent system operators. The RCC is also a qualified scheduling entity in the Texas transmission system (ERCOT), and has operator certification in the PJM market, the U.S. transmission organization that controls the Mid-Atlantic energy grid.
Other services include providing information about plant scheduling, weather, outage planning, generation status, day-ahead and seven-day production forecasts, plant curtailment and data compilation.
Click Renewable Control Center for more information.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes approximately 20 wind projects and more than 40 solar facilities in operation in roughly a dozen states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
About Duke Energy Renewable Services
Duke Energy Renewable Services, part of Duke Energy Renewables, is a leader in operating and maintaining wind and solar projects for customers throughout the United States. The company's growing fleet of owned and third-party wind and solar operations now spans 80 projects in 15 states, totaling more than 4,300 megawatts in electric-generating capacity.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Tammie McGee
800.559.3853
SOURCE Duke Energy
Article Date
7/28/2016Duke Energy Florida brings solar power plant online
Source: PR Newswire
ST. PETERSBURG, Fla., July 26, 2016 /PRNewswire/ -- Nearly 15,000 solar panels soaking up the sun in Osceola County are now providing clean, renewable energy to Duke Energy customers in Florida.
The new Duke Energy owned and operated Osceola Solar Facility is about the size of 13 football fields and produces nearly 4 megawatts of carbon-free energy. It officially began commercial operation on May 12.
The solar plant's opening will be celebrated at the Aug. 1 Osceola County Commission meeting. At 1:30 p.m., commissioners will join Duke Energy representatives to sign a commemorative solar panel, which will be displayed at the commission office, 1 Courthouse Square, Room 4700, Kissimmee.
"As the cost of solar energy continues to decrease and the efficiency of panels grows, we're increasing our investments in solar," said Alex Glenn, Duke Energy state president – Florida. "It's part of our ongoing strategy to offer clean energy and provide customers more options to use renewable energy."
Florida-based Advanced Green Technologies designed, engineered and constructed the facility on 17 acres next to an existing Duke Energy substation in Kenansville.
"When you say Kenansville, people automatically think agriculture. Now they can think technology, too. Solar is a new type of 'farming' for my district – one with a positive environmental impact," said Osceola County Commissioner Fred Hawkins Jr. "Adding a renewable source like solar gives Duke Energy customers a more balanced energy mix and that's more important today than ever before."
The solar power plant is the first in a strategic, long-range plan to install 35 megawatts of solar by 2018 and up to 500 megawatts of solar energy in the state by 2024, helping ensure residents have increasingly clean and diverse power sources.
To that end, construction will be wrapping up in August at the 5-megawatt solar plant in Perry (Taylor County). The company is planning to unveil that project in mid-October.
In addition to building universal solar in the Sunshine State, Duke Energy Florida is helping approximately 90 residential and business customers a month install private solar on their property. The company has established a renewables service center to make it easier for customers to interconnect and is researching various community solar designs that can give all of our customers the opportunity to support more solar generation in Florida.
Earlier this year, the company unveiled a 5-megawatt solar power plant in the shape of a "not-so-hidden-Mickey" to serve the Walt Disney World Resort through an agreement with the Reedy Creek Improvement District.
Solar projects, such as the Osceola and Perry solar plants, allow the company to efficiently bring the greatest amount of renewables on line for customers in the most economical way. One megawatt of large-scale solar is equivalent to about 200 typical residential rooftop systems. The number varies by state and conditions.
Over the past eight years, Duke Energy has invested more than $4 billion in wind and solar facilities in 12 states.
News editors
A video of the Osceola solar plant construction and images of other Duke Energy solar projects are available upon request.
About Duke Energy Florida
Duke Energy Florida owns and operates a diverse generation mix, including renewables, providing about 9,100 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Suzanne Grant
Office: 727.820.5048
24-Hour: 800.559.3853
Twitter: DE_SuzanneG
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SOURCE Duke Energy
Article Date
7/26/2016North Carolina students and teachers energized by $2.7 million in Duke Energy grants
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 13, 2016 /PRNewswire/ -- Duke Energy is continuing its commitment to students and teachers with a more than $2.7 million investment in 52 innovative education programs and initiatives across North Carolina.
The 2016 grants, from the Duke Energy Foundation, will enhance educational programs focused on science, technology, engineering and math (STEM) and childhood reading proficiency – critical building blocks for student success from kindergarten through their professional careers.
"It is essential that next-generation employees have a strong educational foundation that prepares them for the workforce," said David Fountain, Duke Energy's North Carolina president. "Our investments in students and STEM initiatives strengthen the pipeline of highly skilled workers that will lead us to an even smarter future in North Carolina."
Examples of this year's grant recipients include:
"Say Yes Guilford and Duke Energy share a common interest in enhancing Guilford County's educational opportunities to develop a workforce that is prepared to lead our community into the future," said Say Yes Guilford Executive Director Mary Vigue. "We consider ourselves fortunate to be a recipient of this Duke Energy Foundation education grant. We look forward to a continued partnership with Duke Energy and other like-minded organizations who consider education to be key in building tomorrow's communities."
"STEM education is unique because of its fundamental premise of integrating student collaboration and communication into thoughtful, engaging learning environments," said BCS Superintendent Dr. Tony Baldwin. "We are incredibly grateful for Duke Energy's support, which helps Buncombe County Schools expand our ability to provide the latest STEM education to more students earlier. This paves the way for students to more fully develop the necessary creative thinking and problem-solving skills essential for any career path they may choose."
"Masonboro.org is thrilled that Duke Energy is helping again this year to support our environmental education initiatives," said Masonboro.org President and Executive Director Richard Johnson. "Because of this grant, more than 1,200 New Hanover County students will get a chance to visit Masonboro Island Reserve and learn how important its ecosystem is to everyone in North Carolina."
"By helping to inspire the next generation of engineers, innovators and STEM leaders, Duke Energy is on the forefront of corporate leaders working to secure our future," said Marie Hopper, executive director of FIRST North Carolina. "We are grateful for Duke Energy's support in enabling us to deliver life-changing experiences through robotics in North Carolina."
"Boys & Girls Clubs is proud to partner with Duke Energy to help ensure the academic success of our 5,000 Members in Wake County. Duke Energy provides critical funds to support afterschool tutoring, STEM education and academic intervention to those who need it the most," said Ralph E. Capps, president and CEO of Boys & Girls Clubs of Wake County. "With Duke Energy's support, Boys & Girls Clubs is able to help our Members advance to the next grade level and graduate with a plan for the future."
"The Rising Readers program fills a real need in Charlotte where there are more than 8,000 English-language learners in CMS elementary schools. Without foundational literacy skills, students start at a disadvantage no matter the subject and have a difficult time catching up to their peers," said Nate Evans, executive director of International House. "Duke Energy is a long-time supporter of the Rising Readers program and has helped it grow from 36 students when it began in 2010 to more than 400 last year. International House is proud to partner with Duke Energy on this program."
Click here for a full list of 2016 Duke Energy Foundation North Carolina education grant recipients.
About The Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of its communities. Annually, the Foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
Twitter: @DE_MeredithA
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SOURCE Duke Energy
Article Date
7/13/20167/12/2016 - Duke Energy's $1.5 million program aims to increase public electric vehicle charging in N.C. by 30 percent
Duke Energy's $1.5 million program aims to increase public electric vehicle charging in N.C. by 30 percent
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 12, 2016 /PRNewswire/ -- The number of public electric vehicle (EV) charging stations in North Carolina will jump 30 percent thanks to a new project from Duke Energy.
Duke Energy's "EV Charging Infrastructure Support Project" will provide $1 million to help cities and towns develop public charging stations for residents. Duke Energy will pay 100 percent up to $5,000 per charge port; $20,000 per site, or $50,000 per city under the program.
"Over the past decade, Duke Energy has supported the development of several hundred electric vehicle charging stations in North Carolina," said David Fountain, Duke Energy's North Carolina president, "Adoption of EVs depends on a robust infrastructure for consumers."
Duke Energy has been active in building public charging stations at parking decks, libraries and shopping areas. According to Advanced Energy, an independent, non-profit organization established by the North Carolina Utilities Commission, there are about 4,700 registered plug-in EVs and about 700 public charging ports spread out around North Carolina.
"Today is a perfect time to begin thinking about and planning for electric vehicle charging," said Dr. Robert Koger, president of Advanced Energy, "Duke Energy's new program will give communities the opportunity to provide a new amenity for residents and visitors that also benefits the local economy and air quality."
Another part of the project is an additional $500,000 devoted to cities and towns for the construction of electric bus charging stations. Again, Duke Energy will pay 100 percent for electric bus charging infrastructure up to $250,000 per entity.
The programs are targeted to cities and towns, which include both retail and wholesale customers. Interested parties may apply, but are not obligated to proceed if selected as a recipient. The deadline to apply is Sept. 1. Interested parties can download the public EV charging form here. The bus charging form can be downloaded here.
If you have additional questions about the programs, email PlugIn@Duke-Energy.com.
The programs are part of a recent settlement with the U.S. Environmental Protection Agency and environmental groups.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
7/12/2016Duke Energy thanks customers for patience, kindness to crews as power restoration nears completion after severe storm
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 11, 2016 /PRNewswire/ -- Duke Energy today thanked its Carolinas customers for their patience and kindness to repair crews as power restoration neared completion after Friday's severe thunderstorm that included near hurricane-strength winds approaching 70 mph.
More than 1,000 line technicians from Duke Energy and out-of-state companies are working to restore power to almost all Duke Energy customers by 11:45 p.m. (ET) tonight.
Some isolated outages might last longer due to damage to customer-owned electrical equipment, including meter boxes.
As of 5 p.m. (ET) today, fewer than 2,500 Duke Energy customers who lost power due to the storm remained without electricity – about half of them in hard-hit Wilkes County, N.C., where more than 600 technicians are working to restore power.
At the height of the storm, more than 170,000 Carolinas customers lost power as strong winds uprooted trees and broke large branches, knocking down power lines and utility poles in western and central North Carolina and upstate South Carolina.
In total, 350,000 customers were affected by the storm at some point during the weekend.
In addition to Wilkes County, the hardest-hit counties were Mecklenburg, Gaston, Forsyth, Macon and Jackson in North Carolina, and Spartanburg in South Carolina.
"It was a very long and very hot weekend for our customers who lost power," said Duke Energy senior vice president John Smith. "We greatly appreciate their patience and their kindness to our repair crews, who have been working long hours to restore power as quickly and safely as possible."
Register to receive outage alerts, updates
Duke Energy customers can register to receive free, year-round power outage alerts and updates by text, phone or email. Text REG to 57801 to register, or sign up online at http://www.duke-energy.com/north-carolina/outages/outage-alerts.asp
Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/11/2016Duke Energy increases quarterly dividend payment by 3.6%
Source: PR Newswire
CHARLOTTE, N.C., July 11, 2016 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.855 per share, an increase of $0.03 per share, or 3.6 percent.
The dividend is payable on Sept. 16, 2016, to shareholders of record at the close of business Aug. 12, 2016.
"For 90 consecutive years, Duke Energy's dividend has been as reliable as the energy we provide," said chairman, president and CEO Lynn Good. "Our dividend increase reflects our company's financial strength and long-term shareholder value – both of which result from our solid commitment to outstanding customer service."
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analyst Contact: Mike Callahan
704.382.0459
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SOURCE Duke Energy
Article Date
7/11/2016Duke Energy to announce second quarter 2016 financial results on Aug. 4
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 11, 2016 /PRNewswire/ -- Duke Energy will release its second quarter 2016 financial results at 7 a.m. ET on Aug. 4.
An earnings conference call for analysts is scheduled for 10 a.m. ET that day to discuss Duke Energy's financial performance for the quarter and provide other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website, or by dialing 877-723-9502 in the U.S. or 719-325-4795 outside the U.S. The confirmation code is 4669837. Please call 10 minutes prior to the scheduled 10 a.m. start time.
A replay of the conference call will be available until 1 p.m. ET, Aug. 14, 2016, by calling 888-203-1112 in the U.S. or 719-457-0820 outside the U.S., and using code 4669837. A replay and transcript also will be available by accessing the investors' section of the company's website.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Catherine Butler
24-Hour: 800.559.3853
Analysts Contact: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
7/11/2016More than 1,000 technicians working to restore power to 24,000 remaining Duke Energy customers impacted by severe storm
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., July 10, 2016 /PRNewswire/ -- More than 1,000 line technicians and other specialists today are continuing to restore power to Duke Energy customers in the Carolinas following Friday night's severe thunderstorm, similar in force to a major tropical storm.
As of 12:30 p.m. (ET) today, approximately 24,000 Duke Energy customers remained without electricity.
Approximately 350,000 customers lost power at some point during the storm.
The company expects to restore electricity by 11:45 p.m. (ET) Monday to most remaining customers who lost power, though some isolated outages might last longer due to damage to customer-owned electrical equipment, including meter boxes.
"We thank our customers for their patience, especially during this extremely hot and humid weather," said Duke Energy senior vice president John Smith. "The damage was severe and widespread, but our crews are making significant progress, restoring power to customers as quickly and safely as possible."
More than 400 workers from other utilities joined approximately 600 Duke Energy workers this weekend to expedite repairs. Additional crews from other utilities will arrive later today to assist.
The storm's nearly 70 mph winds blew trees and branches onto power lines, knocking down utility poles and cutting electricity to customers in western and central North Carolina and upstate South Carolina.
Hardest-hit counties were Mecklenburg, Gaston, Forsyth, Wilkes, Macon and Jackson in North Carolina, and Spartanburg in South Carolina.
Restoration Times
There are three ways for customers to get the most up-to-date restoration / outage information:
Duke Energy's Online Outage Map – Customers can access the map from a computer or mobile device. Once on the map, customers should zoom in to their specific locations and hover over the outage indicator nearest their home. A message box will appear showing total customers affected, status and an estimated time of restoration, if available: http://outagemap.duke-energy.com/ncsc/default.html
Duke Energy's Proactive Outage Communication Programs – Customers can receive automatic alerts and outage updates via text, phone or email. Text REG to 57801 to register or sign up online: http://www.duke-energy.com/north-carolina/outages/outage-alerts.asp
Phone – Customers who are without power can get up-to-date restoration times by calling the company's automated outage-reporting system: 800-769-3766.
The following video explains Duke Energy's power restoration process: https://www.youtube.com/watch?v=aQu_8vt65Do&app=desktop
Meter Box Damage
If a customer's meter box has pulled away from a residence due to storm damage and the customer is without power, the residence's owner is responsible for contacting an electrician for a permanent repair to the box. In some cases, an electrical inspection might be required before the company can reconnect service.
If the meter box has pulled away from the house but power has not been lost, the customer should still call an electrician to re-attach the meter box.
A video explaining meter-box damage is available at http://youtu.be/q_Qq7dzz1vQ.
Stay Safe
Please give utility repair crews plenty of space on the road as you drive by. Also, please be watchful for downed or sagging power lines. Consider all lines energized, as well as trees or limbs in contact with lines. Please report downed power lines to Duke Energy. If a power line falls across a car that you're in, stay in the car. If you must get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
If you use a generator at home to provide power until your service is restored, please watch for utility crews and turn the generator off when crews are in your area. The electrical load on the power lines can be dangerous for crews making repairs. The excess electricity created by a generator can feed back onto the electric lines, severely injuring a line technician who might be working on a power line, believing it to be de-energized.
Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/10/2016Duke Energy gets green light to build 17-MW solar power plant at Crane naval station
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., July 7, 2016 /PRNewswire/ -- More clean, renewable solar energy will soon flow to Duke Energy Indiana customers with the construction of a new 17-megawatt solar power plant at Naval Support Activity Crane, also known as the Crane naval station, located about 40 miles southwest of Bloomington, Ind.
The Indiana Utility Regulatory Commission has approved a settlement agreement between the company and the Indiana Office of Utility Consumer Counselor to build the solar plant, which will sit on roughly 145 acres in the southeast portion of the naval base. It will be the second-largest solar power plant in the state, and the largest on the Duke Energy Indiana system.
"This helps provide our customers with a more balanced energy mix using both traditional fuel sources and renewable energy sources," said Melody Birmingham-Byrd, president of Duke Energy Indiana. "We are pleased to partner with the Navy on a project that will deliver clean energy to Indiana customers, and improved energy security for the Navy."
Construction activity will begin this month, with installation of approximately 76,000 solar panels. The power plant is expected to start sending solar energy to the grid by early 2017.
The project marks the second major solar project that Duke Energy is building in partnership with the Department of the Navy. The company announced in 2015 a 13-megawatt solar plant at Camp Lejeune in Eastern North Carolina, which is now operational.
Duke Energy is a leader in renewable energy with more than 2,000 megawatts of wind and solar facilities in 12 states.
More information about Duke Energy's overall solar program can be found here: http://www.duke-energy.com/solar
Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/
About Duke Energy
Duke Energy Indiana's operations provide about 7,100 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
7/7/20166/30/2016 - Saving energy this July 4th is as easy as pie
Saving energy this July 4th is as easy as pie
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 30, 2016 /PRNewswire/ -- Celebrate July 4th with fireworks and festivities while managing your energy costs. As summer is in full swing, follow these simple energy-efficiency tips to save this Independence Day and all summer long:
Duke Energy offers energy-efficiency products and services and information to help customers save energy and money. For more information visit duke-energy.com and click on Save Energy and Money.
To help customers prepare for summer, Duke Energy also offers assistance programs and services, including:
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/30/20166/29/2016 - Indiana state utility regulators approve Duke Energy's plan to modernize its statewide energy grid
Indiana state utility regulators approve Duke Energy's plan to modernize its statewide energy grid
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., June 29, 2016 /PRNewswire/ -- The Indiana Utility Regulatory Commission Wednesday approved Duke Energy's settlement with some of Indiana's key consumer groups on the company's plan to build a smarter energy infrastructure that delivers power to more than 800,000 Hoosier homes, businesses and industries.
In March, the company reached agreement with the Indiana Office of Utility Consumer Counselor, the Duke Energy Indiana Industrial Group, Companhia Siderurgica Nacional, Steel Dynamics, Wabash Valley Power Association, Indiana Municipal Power Agency, Hoosier Energy Rural Electric Cooperative and the Environmental Defense Fund on a seven-year plan using a combination of advanced technology and infrastructure upgrades to improve service to customers.
"We have an aging energy grid -- some equipment that is decades old -- and our work will focus on replacing some older infrastructure to reduce power outages," said Duke Energy Indiana President Melody Birmingham-Byrd. "We'll also be building a smarter energy structure with technology to provide the type of information and services that consumers have come to expect."
In May 2015, the Indiana Utility Regulatory Commission denied Duke Energy Indiana's original plan, asking for more details and more focus on electric grid projects. In December, the company filed a revised plan addressing the commission's issues. The company then reached a settlement with key consumer groups. The commission has approved the settlement without changes.
As part of the settlement, Duke Energy reduced the level of capital investments recovered through the plan's customer bill tracker from approximately $1.8 billion to approximately $1.4 billion. Part of the reduction came from $192 million earmarked for new advanced digital meters -- known as smart meters -- but the company retains the ability to pursue the meters and defer some of their costs for consideration in a future rate case rather than through a monthly bill tracker as other items in the plan.
The company also agreed to reduce its return on equity on plan investments from 10.5 to 10 percent for investments that flow through the plan's bill tracker. This does not affect the company's 10.5 percent allowed return on equity on its other remaining investments.
As a result of the plan, customers will see a gradual rate increase averaging 0.75 percent per year between 2017 and 2022.
Some of the plan's consumer benefits include:
Smart meters have additional benefits, including fewer estimated customer bills because meters can be read automatically. There also is quicker service because some customer requests can be performed remotely through the new meters without having to wait for a technician to arrive. Smart meters also provide customers with greater, quicker access to information on their energy use, which can help consumers make wise energy decisions. Approximately 40 percent of the nation already has made the transition to smart meter technology.
The company filed the plan under the provisions of Indiana Senate Enrolled Act 560, state legislation which was passed in 2013 and is aimed at improving utility infrastructure.
Under the law, a utility can file a seven-year infrastructure improvement plan with state utility regulators.
If approved, a utility can request recovery of 80 percent of its investment through a customer bill tracker. Recovery of the remaining 20 percent would be deferred for review until the energy company's next base rate case. Under the new law, utilities must file a base rate case before the end of their seven-year plans.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
@DE_AngelineP
Analysts: Mike Callahan
Office: 704.382.0459
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SOURCE Duke Energy
Article Date
6/29/2016Duke Energy making progress restoring power after Midwest storm
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI and PLAINFIELD, Ind., June 23, 2016 /PRNewswire/ -- Nearly 9,800 Duke Energy customers in Indiana, Kentucky and Ohio remain without power after overnight storms and fallen trees caused damage to transmission and distribution lines and equipment.
About 4,700 customers remain without power in Indiana, while 5,100 customers are without service in Ohio and Kentucky.
"We appreciate our customers' patience while we continue our restoration efforts," said Howard Fowler, Duke Energy's storm director. "Our crews are committed to working as quickly and safely as possible to get all of our customers restored."
In Indiana, the hardest-hit areas include Clinton, Hamilton, Hancock, Howard, Rush, Union and Wayne counties. The same goes for Butler, Clermont, Hamilton and Warren counties in Ohio. There were limited, scattered outages throughout Duke Energy's five-county electric service territory in northern Kentucky.
Crews working to restore power
Beginning at daybreak today, Duke Energy dispatched damage assessors to reported outage locations. As the damage assessors file their reports with Duke Energy's storm center, tree-trimmers, line crews and other personnel are sent to specific locations to clean up debris and restore power. Click here for an infographic that explains how Duke Energy restores power. A short YouTube video also illustrates our process.
Estimated restoration times available
Ninety percent of customer outages will be restored by 11:45 p.m. The vast majority of remaining outages will be restored by 6 p.m. Friday, though most customers will be restored sooner.
In addition, there may be isolated, scattered outages remaining after 6 p.m. Friday depending on individual cases. For instance, about 1,500 customers in the vicinity of Russiaville, Ind., will have their service restored by 6 p.m. Saturday due to extensive damage to Duke Energy poles and equipment.
Customers can report outages and view projected restoration times by:
In addition, customers can sign up for free text message outage notifications by texting REG to 57801 or going to Duke-Energy.com/storm and clicking the "Outage Notifications" link. Standard text messaging rates apply.
More storms forecasted
A cold front moving through the region may cause severe storms this afternoon and early evening in southwest Ohio, northern Kentucky and southeast Indiana. This storm system may bring heavy wind gusts, hail and isolated tornadoes, and cause additional outages.
If Duke Energy believes the potential storm will cause safety concerns, the company will instruct power restoration teams to stop working and take cover in a safe location. This may lead to extended estimated restoration times.
Safety first
Safety remains Duke Energy's top priority. The company reminds customers to stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees, limbs or anything in contact with power lines. Please report downed power lines to Duke Energy.
If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground. Click here for a brief video demonstration.
About Duke Energy
Duke Energy Indiana's operations provide about 7,100 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy Ohio/Kentucky's operations provide electric service to about 840,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 525,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/23/20166/23/2016 - Duke Energy issues one of the energy industry's first Diversity & Inclusion bond offerings
Duke Energy issues one of the energy industry's first Diversity & Inclusion bond offerings
Source: PR Newswire
CHARLOTTE, N.C., June 23, 2016 /PRNewswire/ -- Duke Energy Ohio today completed a milestone D&I bond offering. The $250-million transaction was led by five diversity firms, along with Citigroup.
"We are pleased that we can help advance our diversity and inclusion initiatives and broaden our investor base while also providing our company low-cost capital that helps keep our customers' bills low," said Stephen De May, Duke Energy's senior vice president of tax and treasurer.
The lead bookrunners in this transaction were Lebenthal & Co., Loop Capital Markets, Mischler Financial Group Inc., Ramirez & Co. and Williams Capital, accompanied by Citigroup. These firms represent a wide range of diverse ownership, including women-owned, African American-owned, disabled veteran-owned and Hispanic-owned companies.
"We were excited to assist Duke Energy in developing a strategy to include diversity-owned broker dealers to lead an important utility bond offering," said Alexandra Lebenthal, CEO of Lebenthal & Co. "This deal further expands the business community committed to collaborating with diverse financial firms."
The net proceeds from the sale of the bonds will be used to fund Duke Energy Ohio's capital expenses for ongoing construction, maintenance, and for general corporate purposes.
For more information about Duke Energy's commitment to diversity and inclusion, please visit http://cms.ipressroom.com.s3.amazonaws.com/259/files/20164/D-and-I-fact-sheet-final.pdf.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
6/23/2016Duke Energy Progress proposes more than $5 in monthly savings for N.C. customers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 22, 2016 /PRNewswire/ -- Duke Energy Progress customers in North Carolina will see more than $5 in savings on their monthly energy costs in 2017 if the company's annual fuel cost-recovery filings receive approval from the North Carolina Utilities Commission (NCUC).
Overall energy costs would decrease about 4.9 percent for residential customers, 6.3 percent for commercial customers and 5.7 percent for industrial customers -- keeping the cost per kilowatt-hour about 20 percent below the national average and putting more money back into customers' homes and businesses.
What's driving customer savings
Duke Energy Progress today made its annual filings with the NCUC for costs associated with fuel, cost recovery under the Joint Agency Asset Rider (JAAR), and implementation of energy efficiency (EE) and demand-side management (DSM) programs.
The total monthly impact of all rate changes for a typical residential customer using 1,000 kilowatt-hours (kWh) per month would be a decrease of $5.38.
If approved, as of Jan. 1, 2017, the charge for a typical residential customer using 1,000 kWh of electricity would decrease from $110.04 to $104.66 per month.
Through a balanced energy mix, Duke Energy is able to create savings for customers and maintain rates that are below the national average. The main reasons for the proposed overall decrease include:
Duke Energy Progress makes a fuel cost-recovery filing annually in North Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection.
The NCUC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.
Energy efficiency
The company offers a broad portfolio of innovative programs designed to help customers become more energy efficient and realize savings, as well as potentially delay or eliminate the need for the company's investment in new power plants.
Duke Energy Progress filed to recover the costs associated with implementing these programs designed to help increase efficiency, reduce energy consumption and save customers money on their energy bills. Proposed increases in the amount to be recovered are primarily due to new program offerings, increased customer participation and related costs. This will result in an increase in rates of $1.55 per month for residential customers using 1,000 kWh of electricity per month. If approved, the new EE and DSM rates would begin Jan. 1, 2017.
To learn more about energy efficiency programs, visit www.duke-energy.com/savings.
Additionally, the company filed a Joint Asset Agency Rider to recover costs associated with the purchase of the North Carolina Eastern Municipal Power Agency's (NCEMPA) ownership interest in several Duke Energy Progress generating plants.
Duke Energy Progress will also submit a filing to the NCUC based on the utility's compliance with the state's renewable energy portfolio standard later this month.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
6/22/20166/20/2016 - Duke Energy offers 10 tips for summer safety
Duke Energy offers 10 tips for summer safety
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 20, 2016 /PRNewswire/ -- As summer turns up the heat on vacations and outdoor projects, Duke Energy offers these electrical safety tips:
1. Stay away from downed power lines
Consider all downed or sagging power lines and anything touching them energized and dangerous. Do not touch anything that is on or near a power line (i.e., trees or tree limbs, cars, ladders). Call 911 and report the problem to Duke Energy.
2. Prepare an emergency supply kit for severe weather
Keep a supply of water and non-perishable food items on hand and ensure first aid supplies and all medicines are readily available. Make sure flashlights are working and have a supply of extra batteries.
3. Look up for ladder safety
When using an aluminum ladder, check above for power lines. Aluminum is an exceptionally good conductor of electricity. Take extra care to ensure the ladder does not inadvertently touch or come near a power line.
4. Never trim trees near power lines
Don't prune near power lines. Trimming trees around power lines should only be performed by trained professionals. Please call Duke Energy for an evaluation of the trees and vegetation around power equipment prior to any removals.
5. Keep away from transformers
Do not sit, climb or stand on transformers. They are generally green and mounted on concrete slabs, and are found in areas served by underground power lines. Never attempt to open the door of one of these transformers. If you find a door unlocked, call Duke Energy immediately.
6. Call before you dig
Call 811 at least three days before you dig – whether planting a tree or garden, or installing a deck or fence. This free service will ensure underground electric, natural gas, water, sewer, phone, cable TV and other utility lines are clearly marked before you begin a digging project.
8. Remember electricity and water don't mix
Keep electrical appliances, tools and toys away from water, including rain, wet ground, swimming pools, sprinklers and hoses.
9. Fly kites, model planes and balloons safely
Fly your kite, model plane or balloons in wide-open spaces like a field or beach. Never fly them around power lines, and never use metal, foil or wire in your kite or kite string.
10. Plug tools into the right outdoor electrical outlet
Make sure outdoor electrical outlets are weatherproofed and protected by a Ground Fault Circuit Interrupter (GFCI). This device is designed to protect you from electrical shock.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/20/2016Duke Energy reaches $30 million milestone for N.C. Community College System grants
Source: PR Newswire
RALEIGH, N.C., June 16, 2016 /PRNewswire/ -- With $2.4 million awarded in 2016, Duke Energy's investment in North Carolina Community Colleges has hit the $30 million mark. This investment came to life through grants to 49 community colleges that have equipped students with industry-specific training.
The grant initiative has developed programs such as robotics, welding and mechatronics, as well as other high-skilled areas that are in demand in North Carolina.
In 2004, Duke Energy created its Community College Grant Program to partner with local industry by strengthening programs that address regional skills gaps, expand economic opportunities and improve workforce development.
"Duke Energy's investment in our community colleges continues to have a tremendous impact on their ability to respond to talent demands from businesses, both locally and statewide," said George Fouts, interim president of the NC Community College System. "The Duke program has supported equipment and programmatic needs and has resulted in more North Carolinians receiving the high-quality training necessary to successfully enter the workforce."
"Our state's community colleges are key to creating a skilled workforce and thriving business climate in North Carolina," said David Fountain, Duke Energy's North Carolina president. "Economic development is critical to our state's future and, at Duke Energy, we're committed to developing a workforce that attracts new employers, while expanding the capabilities of existing businesses."
A committee of representatives from Duke Energy, NC Community College System and NC Department of Commerce reviewed applications for more than 100 individual grants to community colleges in Duke Energy's North Carolina service territory.
Duke Energy Community College Program investments
|
Alamance Community College |
$ 481,706 |
|
Asheville-Buncombe Technical Community College |
$ 932,660 |
|
Beaufort County Community College |
$ 825,916 |
|
Blue Ridge Community College |
$ 764,867 |
|
Brunswick Community College |
$ 282,436 |
|
Caldwell Community College and Technical Institute |
$ 250,000 |
|
Cape Fear Community College |
$ 147,592 |
|
Carteret Community College |
$ 248,540 |
|
Catawba Valley Community College |
$ 984,792 |
|
Central Carolina Community College |
$ 419,597 |
|
Central Piedmont Community College |
$1,763,336 |
|
Cleveland Community College |
$1,209,876 |
|
Craven Community College |
$ 417,242 |
|
Davidson County Community College |
$ 880,345 |
|
Durham Technical Community College |
$ 680,752 |
|
Edgecombe Community College |
$ 249,500 |
|
Forsyth Technical Community College |
$1,490,787 |
|
Gaston College |
$ 673,265 |
|
Guilford Technical Community College |
$ 953,471 |
|
Halifax Community College |
$ 249,958 |
|
Haywood Community College |
$ 212,068 |
|
Isothermal Community College |
$1,396,500 |
|
Johnston Community College |
$ 250,000 |
|
Lenoir Community College |
$ 193,628 |
|
Mayland Community College |
$ 637,177 |
|
McDowell Technical Community College |
$ 709,464 |
|
Mitchell Community College |
$ 207,500 |
|
Montgomery Community College |
$ 250,000 |
|
Nash Community College |
$ 749,926 |
|
Piedmont Community College |
$ 399,373 |
|
Randolph Community College |
$ 975,605 |
|
Richmond Community College |
$ 667,000 |
|
Robeson Community College |
$ 232,290 |
|
Rockingham Community College |
$ 250,000 |
|
Rowan-Cabarrus Community College |
$ 984,671 |
|
Sampson Community College |
$ 250,000 |
|
Sandhills Community College |
$ 724,139 |
|
South Piedmont Community College |
$ 949,710 |
|
Southeastern Community College |
$ 469,526 |
|
Southwestern Community College |
$ 250,000 |
|
Stanly Community College |
$ 435,000 |
|
Surry Community College |
$ 250,000 |
|
Tri-County Community College |
$ 521,280 |
|
Vance-Granville Community College |
$ 592,056 |
|
Wake Technical Community College |
$ 375,000 |
|
Wayne Community College |
$ 750,000 |
|
Western Piedmont Community College |
$ 359,667 |
|
Wilkes Community College |
$ 250,000 |
|
Wilson Community College |
$ 160,000 |
Economic and workforce development is one of the Duke Energy Foundation's investment priorities. Individual community colleges can continue to apply for Duke Energy Foundation grants within the Foundation's annual Education grant cycle. For more information, visit www.duke-energy.com/foundation.
NC Community College System
With 58 colleges located across our state and nearly 840,000 students, the North Carolina Community College System is one of the largest institutions of higher education in the United States and is internationally recognized for its programs supporting economic and workforce development. Learn more at www.nccommunitycolleges.edu. Follow NC Community Colleges on Twitter and Facebook.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of its communities. Annually, the Foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Sandy Briscar, NC Community College System
Office: 919.807.6962
Email: briscars@nccommunitycolleges.edu
Contact: Meredith Archie, Duke Energy
Office: 919.546.2109 | 24-Hour: 800.559.3853
Email: meredith.archie@duke-energy.com
Twitter: @DE_MeredithA
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SOURCE Duke Energy
Article Date
6/16/2016Duke Energy wins award for its successful restoration effort after Winter Storm Jonas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHICAGO, June 14, 2016 /PRNewswire/ -- The Edison Electric Institute (EEI) today presented Duke Energy with the association's Emergency Recovery Award for its outstanding power restoration efforts after Winter Storm Jonas assaulted the Carolinas earlier this year.
The award is presented twice annually to EEI member companies in recognition of their extraordinary efforts to restore power to customers after service disruptions caused by severe weather conditions or other natural events.
Duke Energy has earned the award 12 times since EEI began presenting it in 1998.
The winners were chosen by a panel of judges following an international nomination process, and the awards were presented during EEI's annual convention in Chicago.
Jonas brought significant accumulations of freezing rain, snow and wrap-around winds to the Carolinas in late January, causing more than 604,000 customers to lose power.
The wintry precipitation brought down trees, resulting in downed wires and significant damage to power poles. Wrap-around winds continued after the snow and ice pounded the Carolinas, creating additional outages and impeding restoration progress.
Almost 7,000 line and tree personnel, including crews from Duke Energy's Midwest and Florida operations and mutual assistance partners, quickly mobilized to begin restoring power to customers. Four days after the storm passed, service had been restored to everyone affected.
"Duke Energy's terrific effort to restore service in the wake of Winter Storm Jonas exemplifies our industry's commitment to customer service," said EEI President Tom Kuhn. "The company's crews who braved four days of difficult and dangerous conditions to quickly and safely restore service to customers, are greatly deserving of this honor."
"We are proud and humbled to be recognized by our peers for serving our customers in the storm's aftermath," said Lloyd Yates, Duke Energy's executive vice president of market solutions and president of the Carolinas region. "The work was extensive and exhausting, but when our customers relied on us most, we rose to the occasion.
"It takes monumental support from the entire team to prepare and respond to these challenging weather conditions. The entire team shares in earning this respected award for their selfess work," he added.
About EEI
EEI is the association that represents all U.S. investor-owned electric companies. Our members provide electricity for 220 million Americans, operate in all 50 states and the District of Columbia, and directly employ more than 500,000 workers. EEI has 70 international electric companies as Affiliate Members, and 270 industry suppliers and related organizations as Associate Members.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Meghan Miles
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/14/2016Duke Energy Ohio lowers power bills by $5.55 per month
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, June 14, 2016 /PRNewswire/ -- Duke Energy Ohio has reduced its residential power bills by about 4.5 percent. As a result, a typical residential customer who uses 1,000 kilowatt-hours of electricity a month and purchases electric supply from Duke Energy Ohio will pay about $118 per month beginning with their June bill. That's down about $5.55 from May.
"We continue to work hard to provide the best possible price for our customers," said Jim Henning, president of Duke Energy Ohio and Kentucky. "Our customers' bills continue to be the lowest in Ohio and well below the national average."
The driver for the reduction is the price Duke Energy Ohio pays to procure electricity for its customers who haven't switched to an alternative supplier for their electricity. The company uses a competitive auction process to acquire electricity for these customers. As a whole, recent winning bids have been lower than past bids – leading to lower power bills.
The company makes no profit on the energy supply portion of customers' bills. The cost of energy supply that Duke Energy Ohio procures is passed on directly to its customers.
Duke Energy electricity bills lower than all other Ohio utilities
According to a fall 2015 report issued by the Edison Electric Institute in Washington, D.C., Duke Energy Ohio has the lowest typical residential monthly bill among all electric utilities in Ohio – and comes in about $10 less than the national average.
The company's sister utility, Duke Energy Kentucky, also offers its customers the lowest typical residential electric bill among utilities in the commonwealth.
About Duke Energy Ohio and Kentucky
Duke Energy Ohio and Kentucky's operations provide electric service to about 840,000 residential, commercial and industrial customers in a 3,000-square-mile service area and natural gas service to approximately 525,000 customers.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Lee Freedman
Office: 513.287.4152
24-Hour: 800.559.3853
Twitter: @DE_LeeF
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SOURCE Duke Energy
Article Date
6/14/20166/10/2016 - While the heat is on outside, save inside
While the heat is on outside, save inside
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 10, 2016 /PRNewswire/ -- As customers crank up their cooling systems to combat sweltering temperatures heading to the Carolinas this weekend, Duke Energy offers customers these suggestions for managing energy costs to save money this summer:
Duke Energy offers energy-efficiency products, services and information to help customers save energy and money. For more information visit duke-energy.com and click on Save Energy and Money.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/10/2016Duke Energy's proposed acquisition of Piedmont Natural Gas takes another step forward
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 10, 2016 /PRNewswire/ -- Duke Energy's proposed acquisition of Piedmont Natural Gas gained important support today as the North Carolina Public Staff reached agreement with Duke Energy and Piedmont on certain stipulations and conditions for approval of the transaction.
The Public Staff is the independent state agency charged with protecting the interests of utility customers.
The stipulations will ensure that the proposed acquisition "will have no adverse impact" on either Duke Energy or Piedmont customer bills or service, the Public Staff states in a filing to the North Carolina Utilities Commission (NCUC).
With the stipulations, the acquisition "is justified…and meets the standard for approval" by the NCUC, the filing says.
Duke Energy Chairman, President and CEO Lynn Good called the Public Staff's recommendation "another positive step" toward completion of the acquisition, which will provide wide-ranging benefits for customers and communities throughout North Carolina.
"The combined company will build on Duke Energy's and Piedmont's strong tradition of customer service and community support, with an ongoing commitment to affordable energy, economic development and environmental stewardship," Good said. "We look forward to discussing the benefits of the acquisition at the NCUC hearing in July."
Piedmont will retain its name and operate as a business unit of Duke Energy.
Among the stipulations contained in the Public Staff's agreement with Duke Energy:
The NCUC will hold a hearing on the proposed acquisition on July 18 in Raleigh.
Duke Energy and Piedmont seek to complete the transaction, subject to NCUC approval, by the end of 2016.
The proposed acquisition, first announced in October 2015, has been approved by the Tennessee Regulatory Authority, contingent on NCUC approval.
Duke Energy and Piedmont also have formally notified the Public Service Commission of South Carolina about the transaction. The two companies are providing updates to the South Carolina commission about the NCUC's review.
In addition, the Federal Trade Commission has conducted an anti-trust review and approved the transaction.
Piedmont's shareholders also have approved the acquisition.
Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Dave Scanzoni
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/10/2016Duke Energy Florida selects locations for 2016 Site Readiness Program
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., June 10, 2016 /PRNewswire/ -- Duke Energy has selected five Florida properties for participation in this year's Site Readiness Program to prepare them for business and industrial development.
The company's award-winning endeavor identifies high-quality industrial sites in its service areas then collaborates with county leaders and local economic development professionals to develop a strategy for providing water, sewer, natural gas and electricity to the parcels and help diversify Florida's economy.
The locations include:
"The Duke Energy Site Readiness Program has provided Hernando County the opportunity to highlight and pre-qualify a large parcel at the BKV Technology Center, ensuring we are poised to act quickly upon any inquiries for future development. We truly appreciate this partnership and their commitment to economic development," said Len Sossoman, Hernando County administrator and director of Hernando County Office of Business Development.
"The Duke Energy Site Readiness Program helped our community identify and further advance the development of the 456-acre Sunny Oaks site," said Brett Barnes, director of business attraction for the Ocala/Marion County Chamber & Economic Partnership. "We now have extensive feedback from an internationally recognized site selection firm in McCallum Sweeney (MSC). With the knowledge gained, we are in a better position to continue to develop the site for future growth. We greatly appreciate this incredible opportunity Duke Energy presented to us. It was a pleasure working with them and the MSC team."
"Participating in Duke Energy's Site Readiness Program was a tremendous asset for us," said Bill Martin, executive director of the Greater Osceola Partnership for Economic Prosperity. "Duke's program is crucial to the development of 'shovel ready' sites to help us meet our goal of balanced growth, and having solid information on available sites is the best way to stay in the competition for new business and industry."
"This is a remarkable opportunity in Pinellas County for an expanding business seeking direct airside access to a growing airport and major roadways," said Mike Meidel, director of Pinellas County Economic Development. "With further analysis and the information gained through the Site Readiness Program, we will be able to better highlight the advantages of this location. This primary Gateway/Mid-County employment center is home to over 2,800 businesses, including Raymond James, Lockheed Martin, Jabil and Home Shopping Network. It is served by a regional workforce of nearly 2 million professionals."
"We're excited about the opportunity to work with Duke Energy through its Site Readiness initiative to increase competitiveness in Florida and the Greater Gainesville region," said Susan Davenport, president/CEO of the Gainesville Area Chamber of Commerce. "We look forward to continued efforts to advance the chamber's mission to facilitate economic prosperity, business growth and community progress."
After each evaluation is completed, a site flier highlighting the property attributes is generated and shared with Duke Energy's business development team who help strategically market the sites nationwide to companies looking to expand or relocate their operations.
Coreslab Structures is an example of a Site Readiness economic development win for the state. The company's announcement in late 2015 included a $10 million investment and 55 new jobs. The city of Leesburg and Lake County made the development of the 470-acre park a top priority, and through their partnership with Duke Energy, the community was able to systematically prepare the site for the competitive consideration of expanding businesses. This site was the first in Florida to be evaluated through the Duke Energy Site Readiness Program.
"If you have ever wondered why a power provider might focus on site development, the answer becomes evident in the benefits this approach brings," said Marc Hoenstine, Duke Energy Florida's director of economic development. "Two of the top factors determining a community's success in attracting new business are having the right talent or labor force and having a site or building that meets a company's needs.
"Our CareerSource and educational partners are meeting the talent needs. Duke Energy is addressing the need for ready industrial sites in Florida. In the end, our efforts result in new jobs, new capital investment and a diversified industry base in the communities we serve," he said.
Duke Energy works with McCallum Sweeney Consulting, a nationally-known consulting firm in Greenville, S.C., to conduct site evaluations. McCallum Sweeney has been instrumental in locating many high-profile headquarters and industrial relocations and expansions throughout Florida and the U.S. In addition, Heidt Design, a Tampa, Fla.-based engineering firm, conducts buildable area studies and generates conceptual drawings to support each site evaluation.
Duke Energy's economic development efforts are perennially recognized by Site Selection magazine in the publication's annual list of "Top Utilities in Economic Development."
In 2015, Duke Energy helped to recruit more than $285 million in capital investment and more than 1,870 jobs to Florida. By the end of 2016, the Duke economic development team will have evaluated 12 properties throughout its Florida service territory representing three years' worth of site evaluations since the Florida program began in 2013.
So what's the secret to a winning record when it comes to growing the economy?
"Economic development is a team sport," said Alex Glenn, Duke Energy Florida state president. "We partner with our local economic development organizations, real estate and development community, counties and cities and the many other groups and companies influencing the economic development process. We are focused on supporting the cultivation and attraction of high-level, high-wage jobs and capital investment in the areas we serve, and our smart grid will provide clean and reliable energy service to help those companies continue to grow in our state."
For more information about Duke Energy's economic development programs, visit www.duke-energy.com/economic
Duke Energy Florida
Duke Energy Florida owns coal-fired and natural gas generation providing about 9,100 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 727.820.4722
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/10/2016Large Wilson County solar plant adds to Duke Energy's N.C. renewable portfolio
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 8, 2016 /PRNewswire/ -- With 670 miles of wire and cable and 487,000 solar panels, Duke Energy's (NYSE: DUK) 40-megawatt (MW) Elm City Solar Facility is the latest addition to the company's renewable portfolio to power a clean energy future.
Duke Energy, Wilson County and Elm City officials will kick off the completed project at an event Thursday morning. The plant began operations in March and is currently supplying energy to customers.
The facility is the newest solar site that Duke Energy owns and operates in North Carolina. Overall, Duke Energy has 35 solar facilities across the state.
"Duke Energy has embraced solar energy in North Carolina as a means of providing even more renewable resources to our customers," said David Fountain, Duke Energy's North Carolina president. "We continue to push for projects that promote new and renewable technologies, while keeping rates below the national average."
The Elm City Solar Facility is located at 4579-4699 Haynes Road in Wilson County. Its expected annual output of 82,000 megawatt-hours is roughly what 7,000 residential customers would use in a year.
In the past year, Duke Energy's retail electric companies have completed solar projects in Bladen, Duplin and Onslow counties. Construction will begin soon on projects in Davie and Monroe counties.
The company's commercial business unit, Duke Energy Renewables (DER), recently purchased six solar facilities in Bertie, Edgecombe and Northampton counties. DER has solar and wind facilities in 13 states.
In 2015, Duke Energy added 300 MW of solar energy in North Carolina. In total, Duke Energy companies have installed about 450 MW of solar energy in the state, enough to power 85,000 average homes at peak production.
Duke Energy has invested more than $4 billion in renewable energy since 2007 and plans to invest about $3 billion over the next five years.
Note to Media
Media members are welcome to attend the event and tour the solar site at 10 a.m. Thursday in Elm City. Contact Randy Wheeless for details – randy.wheeless@duke-energy.com.
Background
More information about Duke Energy's overall solar program can be found here: http://www.duke-energy.com/solar
Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
6/8/2016Duke Energy responds to veto of Senate Bill 71
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., June 6, 2016 /PRNewswire/ -- Duke Energy today issued the following statement regarding Governor McCrory's veto of Senate Bill 71 in North Carolina.
Senate Bill 71 has broad bipartisan support from lawmakers, the environmental and business communities who recognize the opportunity for North Carolina to continue leading on this issue.
We don't understand why the Governor would veto a bill that makes North Carolina's Coal Ash law even stronger. Very importantly, it reconstitutes a Commission that will evaluate the safety and cost of any closure plan on customers.
The legislation gives our state the flexibility to make better basin closure decisions based on new information and the completion of facility improvement projects. Senate Bill 71 also encourages safe recycling of coal ash, which is non-hazardous, and gives plant neighbors certainty about their water quality. Extensive science and engineering studies demonstrate that basins are not impacting neighbor wells, but extending a permanent water supply to those neighbors benefits all customers because it preserves the wide range of closure options.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
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Media Contact:
24-Hour: 800.559.3853
SOURCE Duke Energy
Article Date
6/7/2016Duke Energy alerts customers to flooding dangers during Tropical Storm Colin
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., June 6, 2016 /PRNewswire/ -- With Tropical Storm Colin bringing severe weather to Florida, Duke Energy is responding and urging customers to be safe.
Duke Energy's storm center has been activated and crews and additional contractors are in place in Pinellas County through north Florida in order to quickly and safely respond to outages.
The storm is expected to bring heavy rain and flooding to coastal areas.
"At Duke Energy, safety always comes first. We actively care about the safety of our customers, crews and employees during and after every storm event," said Luis Ordaz, Duke Energy Florida storm director. "We've trained and prepared, and we want to ensure our customers are safe too."
Electrocutions are the second-leading cause of death during and after floods, according to the American Red Cross. Duke Energy offers the following electrical safety guidelines when coping with flooding:
When outages occur for any reason, Duke Energy is committed to restoring power as safely and quickly as possible, while keeping customers informed throughout the process.
Customers can report outages by calling (800) 228-8485 or online at www.duke-energy.com.
In addition, outage alerts are available by text or voice message and feature restoration times, status updates, outage causes and notification when power is restored.
Text "REG" to 57801 to register for text alerts or enroll at duke-energy.com/outagealerts for voicemail notifications. Customers will need to have their account number or have their mobile number registered with their account.
For storm updates on social media, follow Duke Energy on Twitter (@DukeEnergy and @DE_SuzanneG) and Facebook (Duke Energy).
About Duke Energy Florida
Duke Energy Florida owns coal-fired and natural gas generation providing about 9,100 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ana Gibbs
Office: 813.928.7263
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
6/6/2016Duke Energy applauds North Carolina's passage of Senate Bill 71
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 31, 2016 /PRNewswire/ -- Duke Energy today issued the following statement regarding passage of Senate Bill 71 by the North Carolina General Assembly.
Duke Energy applauds North Carolina's passage of Senate Bill 71, which further strengthens North Carolina's Coal Ash Management Act and ensures the state has the flexibility to make the best decisions to safely close ash basins.
The bill also reconstitutes the Coal Ash Management Commission to provide oversight and consider how any closure plan will impact customer power bills in the future.
The legislation has strong bipartisan support from lawmakers, as well as environmental and business communities who recognize the opportunity North Carolina has to continue to lead on this issue.
In addition, Senate Bill 71 encourages safe recycling of coal ash, which is non-hazardous, and gives ash basin neighbors certainty about their future drinking water quality. Although the science and engineering studies continue to demonstrate that basins are not impacting neighbors' wells, extending water lines benefits all customers because it preserves the full range of cost-effective ash basin closure options.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/31/20165/31/2016 - Duke Energy ads showcase the value that clean, high-tech energy brings to customers across all generations
Duke Energy ads showcase the value that clean, high-tech energy brings to customers across all generations
Source: PR Newswire
CHARLOTTE, N.C., May 31, 2016 /PRNewswire/ -- Duke Energy is launching a new phase of its successful advertising campaign to highlight Millennials, Gen X and Baby Boomers' reliance on energy – and how the company is meeting each generation's needs with new technologies that generate and deliver increasingly clean energy.
"The multi-media campaign's theme -- "Changing Times" -- illustrates how the vital service we provide is keeping pace with customers' changing power needs," said Selim Bingol, Duke Energy chief communications officer. "Cleaner and more reliable energy is the backbone of today's electronic world, and we are pleased to be the power behind the outlet, quietly enabling people across generations to live the lives they want."
The TV ads show a Millennial woman and the new ways the younger generation uses energy to easily communicate, work and relax; how a Gen X family uses energy to connect and get more done during their busy day; how high-tech Baby Boomer grandparents use energy to more easily stay in touch with family and friends and adapt their homes with the latest technologies.
In addition to TV, the campaign includes radio, newspaper and website ads, as well as social media outreach efforts.
A sample of the ads can be seen at the following link:
http://news.duke-energy.com/multimedia-gallery/advertising
Duke Energy shareholders, not customers, are paying for the ad campaign, which will run in North Carolina and Florida.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/31/2016Blue Sphere Updates Shareholders on Company Progress
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 26, 2016 /PRNewswire/ -- Blue Sphere Corporation (the "Company", "Blue Sphere", "we", "our" or "us"), an international Independent Power Producer (IPP) that is globally active in the clean energy production and waste to energy markets, released today a shareholder letter from the Company's Chief Executive Officer, reviewing developments at the Company and outlining plans for its future.
Dear Fellow Shareholders,
I am pleased to update you on the ongoing progress at our Company. Our industry is growing at an unprecedented pace, with environmental and regulatory concerns making Blue Sphere's assets and experience more relevant than ever. We reside in a unique niche of the clean energy market by focusing on de-risked, cash flow-generating assets that provide attractive returns on investment.
U.S. Assets
In the United States, we are nearing completion of our North Carolina and Rhode Island biogas projects. These two facilities will produce a combined 8.4 megawatts of power and have aggregate construction costs of nearly US$47 million. The energy produced by these facilities will be purchased under long term power purchase agreements (PPAs) by our utility partners, Duke Energy (NYSE: DUK) in North Carolina and National Grid (NYSE: NGG) in Rhode Island, both giants in the industry. We believe having PPAs in place allows the projects to have a "predictive" revenue source.
These projects are now over 90% complete, and we expect both facilities to come online this summer. The facilities are estimated to produce combined annual revenue of approximately US$14.5 million and EBITDA of US$8 million. Blue Sphere owns 25% of the 5.2 megawatt North Carolina project and 22.75% of the 3.2 megawatt Rhode Island project. Once online and at full operating capacity, the Blue Sphere cash flow participation from these projects will take the form of equity dividends, since we are minority partners in the projects.
In addition to any cash flow participation from these U.S. facilities, we expect to receive the remainder of the one-time milestone payments under our development contract totaling nearly US$2.5 million once the U.S. facilities come online. To date, the Company has received US$4.5 million in milestone payments. In addition, the projects in North Carolina and Rhode Island qualify for and have received incentive tax credits. Blue Sphere and its financial partners will receive the benefits of these incentives by either taking credits against project earnings or potentially selling the benefit to another user at a discount.
Italian Assets
As we have previously disclosed, in Italy, Blue Sphere is the 100% owner of four biogas facilities that are already operational and collectively producing approximately 4 megawatts of power. These assets also have long-term power purchase agreements (PPAs) with the state-owned electrical authority, Gestore del Servizi Energetici (GSE). We receive monthly cash flow from these facilities. These assets are expected to produce over US$9 million in sales and over US$4 million in EBITDA on an annual basis, which we will consolidate on our financial statements. As the acquisition costs of these projects are retired, the long-term value of our predictive revenue model will become more apparent.
The EBITDA from the Italian plants is guaranteed by Austep, S.p.A., our operating partner. Blue Sphere expects to receive the annual guaranteed EBITDA, and Austep, S.p.A. will receive any revenues in excess of the guaranteed EBITDA. Austep is a 20-year old engineering firm with deep experience in the alternative energy sector, having built over 350 such facilities.
Pipeline
Our success in developing two large-scale waste-to-energy plants in the United States as well as acquiring four biogas plants in Italy has opened the door to many opportunities. The Blue Sphere management team is proceeding in a disciplined manner and insisting on IRR's that are at least 15-25 percent or higher for development projects.
In Italy, we anticipate making acquisitions of additional operating facilities, each around 1 megawatt in size, under similar terms to the four we already own, including guaranteed EBITDA arrangements and outsourced plant management. We have signed letters of intent or term sheets for three facilities and are currently evaluating over 40 other opportunities in Italy. Although we cannot make any guarantees, we hope to will close on multiple Italian facilities in the coming year or two.
In the United States, we have a robust pipeline of over 10 megawatts emphasizing greenfield development. These developments are similar to our Rhode Island and North Carolina projects. We expect to have announcements regarding these developments in 2016.
In the Netherlands, our third focus market, we previously announced that we entered into a letter of intent to develop a US$24 million waste-to-energy facility in the Brabant province. Assuming we close the financing for this project, the development has an estimated construction time of 12 months and forecasted annual EBITDA of US$4 million once operational. We have been active in the Netherlands for two years and have several other project developments that we are advancing.
In addition to the above listed developments, our pipeline includes projects at earlier stages. Blue Sphere has two development projects in Israel and greenfield projects in the UK, collectively representing over US$400 million in potential development. We have no certainty that any of these projects will come to fruition and delays in our industry are all too common, but we are pleased with the opportunities before us and optimistic that we will have additional progress to share in the months ahead.
Balance Sheet
As the Company prepares for an up-listing to a primary stock exchange such as the NYSE MKT or NASDAQ, you can expect to see Blue Sphere improve on our internal controls and the timeliness and quality of our filings. In the interim, I thought it would be helpful to clarify certain items on our balance sheet as of March 31, 2016, the most recently reported and not yet reviewed.
Because we focus on acquiring and developing cash flow generating assets with long term PPAs (and EBITDA guarantees in the case of our Italian assets), we think it is appropriate to finance a portion of our assets with debt. Nearly all the debt on our balance sheet is project-level debt associated with specific assets. The only corporate level debt we have consists of approximately US$3.0 million in debentures, which mature in November 2017, and approximately US$500,000 in long-term notes due to managers.
Additionally, I want to point out that the current liability on our balance sheet of approximately US$9.3 million in deferred revenues from joint ventures will be eliminated when our Rhode Island and North Carolina projects reach development completion.
Concluding Thoughts
I am very proud of Blue Sphere's current portfolio of assets. With our market cap at its current level, and EBITDA and other income from our current assets expected to soon equal a US$6 million annualized run rate, we believe that the Company's common stock is deeply undervalued. We are proactively meeting with investors and presenting at investor conferences to help introduce the Company's success and potential to a wider audience.
As the CEO of the Company, I believe that Blue Sphere is much more than an undervalued portfolio of cash flow-generating assets. Our pipeline, experience, relationships and execution show that we are a strong growth company with a proven ability to expand our portfolio and create attractive investments with long-term return potential. I am extremely excited about the opportunities in front of us and feel that, with some successes already behind us, we are in the best position we have ever been to execute on our pipeline of opportunities.
I thank you for being part of this journey.
Sincerely,
Shlomi Palas, CEO
About Blue Sphere Corporation
Blue Sphere Corporation is a diversified independent power producer that develops, owns, and operates clean-tech, waste-to-energy facilities in the United States and abroad. The company primarily converts organic waste into electricity, but also has the ability to generate heat, natural gas and organic byproducts through various technologies.
Blue Sphere facilities eliminate waste that would normally be disposed in landfills, reduce greenhouse gas emissions and protect water quality, helping to solve important global environmental issues. Blue Sphere is headquartered in Charlotte, North Carolina and has operations in the United States and Europe. For further information about Blue Sphere, please visit the Company's website: www.bluespherecorporate.com.
Forward-Looking Statements
This press release contains certain forward-looking statements (within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995), which are subject to risks and uncertainties and may change at any time. Because such statements include risks and uncertainties, actual results may differ materially from those expressed or implied by such forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties and other factors including, without limitation, (i) uncertainties regarding general economic and market conditions, (ii) uncertainties regarding changes in the clean tech sector, (iii) uncertainties regarding implementation of the Company's business strategy, and (iv) other risk factors as outlined in the Company's periodic reports, as filed with the U.S. Securities and Exchange Commission. As such, there is no assurance that the initiatives described in this press release will be successfully implemented or meet expectations. Forward-looking statements in this document speak only as of the date on which such statements were made, and we undertake no obligation to update any such statements that may become untrue because of subsequent events.
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SOURCE Blue Sphere Corporation
Article Date
5/26/2016Duke Energy supports strengthening North Carolina's coal ash law
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 25, 2016 /PRNewswire/ -- Duke Energy today issued the following statement regarding Senate Bill 71, a measure moving through the North Carolina General Assembly that would, among other things, reconstitute the Coal Ash Management Commission and address water supply to ash basin neighbors.
----------------
We support this bill because it strengthens North Carolina's Coal Ash Management Act by providing broad safeguards that protect people, pocketbooks and the environment, as legislators envisioned when they first passed the law. We appreciate the broad support for this legislation from lawmakers, and from the business and environmental community. We will review the amendments to the bill passed today and monitor the bill's progress as it moves forward.
Specifically, we support the reconstitution of the Coal Ash Management Commission (CAMC) and the vital role it plays in providing oversight and making recommendation on a variety of safety, environmental and cost factors for the disposal of this non-hazardous material. Very importantly, under the law, the CAMC has sole responsibility for considering how closure plans impact customer bills.
If changes to the law are adopted, the company would be required to do even more under CAMA than it is today. In addition to safely closing all basins, including excavating them if necessary, Duke Energy would be required to provide permanent water supply to ash basin neighbors when needed.
While the science and engineering continue to demonstrate that we have not influenced plant neighbors wells, we believe giving them peace of mind also benefits North Carolina while preserving the full range of cost effective options to safely close ash basins.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/25/2016Duke Energy inks second innovative swine waste power deal in 2016
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 24, 2016 /PRNewswire/ -- Duke Energy announced today it has finalized a second deal in 2016 to buy captured methane gas derived from swine waste. The planned project will be at farms in Kenansville, N.C.
The project will use captured methane gas to generate carbon-neutral renewable electricity at two power stations. Optima KV will construct a digester at each farm and pipe the captured methane gas to a centralized facility where it will be cleaned to pipeline quality specifications and injected into the natural gas pipeline system.
The Duplin County location for the proposed facility is in the heart of Smithfield Foods' pork operations. The project should be operational by the summer of 2017. The power will be carbon neutral compared to the emissions that would result if the waste was left to decay at current methods.
"We see continued advancement in this technology in North Carolina," said David Fountain, Duke Energy's North Carolina president. "This project has environmental benefits and is cost-effective for our customers."
Under North Carolina's Renewable Energy Portfolio Standard (REPS), Duke Energy companies must meet specific compliance targets for swine and poultry waste. In March, the company announced a project with Carbon Cycle Energy to use swine waste-derived gas at four power plants in North Carolina.
Expanding the utility's renewable energy output, the captured methane will be treated, injected into the pipeline system and used at two Duke Energy plants:
"Optima is excited about this partnership with Duke Energy and North Carolina swine farmers," said Gus Simmons, partner in Optima KV and concept designer. "Our on-farm digesters will integrate with and support the farmers' existing operations. By centralizing the gas processing, we can take advantage of cost efficiencies and provide carbon-neutral fuel for Duke's existing power plants. It's a great benefit for the environment and for the economy."
Under a 15-year term, Optima KV is expected to produce about 80,000 MMBtus of pipeline-quality captured methane a year. Duke Energy should yield about 11,000 megawatt-hours of renewable energy annually – enough to power about 880 homes for a year. The renewable energy credits (RECs) generated annually by the effort will help satisfy state mandates.
Since Duke Energy has already filed to have the Lee and Sutton plants designated as new renewable energy facilities, amendments to those filings were made with the NCUC to include fuel from the new project.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Optima KV
Optima KV, LLC, a North Carolina limited liability company located in Wilmington, North Carolina, is a partnership that brings together experts in bioenergy, agriculture, project finance, and environmental stewardship. Although this is Optima KV's first swine waste-to-energy project in North Carolina, its principal partners actively operate successful waste-to-energy projects in the U.S.
About Smithfield Foods
Smithfield Foods is a $14 billion global food company and the world's largest pork processor and hog producer. In the United States, the company is also the leader in numerous packaged meats categories with popular brands including Smithfield®, Eckrich®, Nathan's Famous®, Farmland®, Armour®, Cook's®, John Morrell®, Gwaltney®, Kretschmar®, Margherita®, Curly's®, Carando® and Healthy Ones®. Smithfield Foods is committed to providing good food in a responsible way and maintains robust animal care, community involvement, employee safety, environmental and food safety and quality programs. For more information, visit www.smithfieldfoods.com.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
5/24/2016Duke Energy responds to ash basin closure rankings, calls for legislative change
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 18, 2016 /PRNewswire/ -- Duke Energy today issued the following statement in response to ash basin closure rankings announced by the North Carolina Department of Environmental Quality (NCDEQ).
Today's announcement is an important milestone in the development of long-term closure solutions for coal ash basins, which store non-hazardous material. However and equally important, it acknowledges that work is incomplete and changes to the Coal Ash Management Act (CAMA) are necessary in order to get to final recommendations.
If NCDEQ's proposed recommendations are allowed to stand, without review and possible adjustments based on additional new information, the state will have chosen the most extreme closure option that will have a significant impact on customer costs and hinder economic development. In addition, it will cause decades of disruption to communities, all without additional, measurable environmental benefits. Given the scope of work, there is significant risk in meeting excavation deadlines by 2024.
We will seek to clarify CAMA within 60 days to help ensure the law is implemented in a way that makes North Carolina a thoughtful leader on this issue.
The data and assessments performed to date demonstrate that ash basins are operating safely and the environment is protected but, at NCDEQ's request, the company is now conducting additional new research and completing facility improvement projects that we identified and pursued ourselves.
NCDEQ acknowledges that all basins except those already designated as "high" could be ranked "low" once that work is done and other steps are taken, including ensuring plant neighbors have the assurance of a high-quality water supply.
The facts, supported by the most robust scientific and engineering studies in North Carolina, demonstrate that ash basins are not impacting neighbor wells. We also recognize that for some, even that level of scientific rigor, may not provide sufficient assurance that their water is safe. We are exploring a range of options that give those neighbors peace of mind and will work with local communities and water utilities to begin addressing a myriad of questions on this issue. We believe all of our customers will benefit from this approach because it allows the company to pursue a range of closure options that are safe and cost effective.
"Low" rankings are supported by the science and engineering and provide a number of benefits to customers, communities and the environment, including:
Decisions regarding basin rankings will impact our customers and communities for decades. We will continue to work constructively over the next 60 days on this important issue.
Lynn Good, chairman, president and CEO of Duke Energy, today issued the following video statements on today's announcement and the value of having a variety of closure options:
https://www.youtube.com/watch?v=ECc4noP2Lxo
https://www.youtube.com/watch?v=PjlQHKbjNJA
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy (NYSE: DUK) is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
Video- https://www.youtube.com/watch?v=PjlQHKbjNJA
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SOURCE Duke Energy
Article Date
5/18/2016Two Duke Energy solar facilities get green light from N.C. regulators
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 16, 2016 /PRNewswire/ -- Duke Energy today received regulatory approval from the North Carolina Utilities Commission (NCUC) to construct solar facilities in Davie and Union counties.
"These projects are part of our planned expansion of solar in North Carolina," said Rob Caldwell, senior vice president, Distributed Energy Resources. "With the state third in the nation for installed solar power, we are committed to growing renewable energy in a sustainable way that benefits all customers."
Both projects will be owned and operated by Duke Energy Carolinas and will help meet North Carolina's Renewable Energy and Energy Efficiency Portfolio Standard.
Duke Energy utilities continue to invest heavily in solar energy in North Carolina as part of its effort to deliver increasingly clean energy to customers. The company recently completed construction of around 140 MWs of capacity at four major solar facilities in the North Carolina counties of Bladen, Duplin, Onslow and Wilson. A project in Rowan County is awaiting NCUC approval.
Over the past eight years, Duke Energy, through its regulated and commercial businesses, has invested more than $4 billion in wind and solar facilities in 13 states. The company plans to invest about $3 billion in renewable energy over the next five years.
In 2015 alone, Duke Energy added 300 MW of solar energy capacity in North Carolina. In total, Duke Energy companies, both regulated and commercial, have installed about 450 MW of solar energy in the state, enough to power 85,000 average homes at peak production. Duke Energy companies have more than 35 solar facilities in the state.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Dave Scanzoni
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/16/2016$1 million in Duke Energy Foundation grants energize Florida students and teachers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., May 12, 2016 /PRNewswire/ -- Duke Energy is providing more than $1 million in grants to 33 Florida-based educational programs through its Duke Energy Foundation.
More than 100,000 students will benefit directly from the grants, which will help fund projects in science, technology, engineering and math, or STEM, fields.
"Supporting educational initiatives is an integral mission of the Duke Energy Foundation," said Alex Glenn, Duke Energy state president – Florida. "These grants help advance vital STEM-focused programs in local schools, which in turn prepare our students to become future community leaders."
The largest grant, totaling $252,000, was awarded to the Pinellas County Education Foundation to address key needs of nearly 40,000 students.
The grant will support:
Duke Energy's grants to K-12 local education foundations are also eligible for dollar-for-dollar matching funds through the state of Florida's School District Education Foundation Matching Grant Program, doubling the impact of the $1 million investment.
"Throughout Florida, teachers will be able to provide the types of hands-on learning opportunities that truly engage students because of Duke Energy's support," said Mary Chance, president of the Consortium of Florida Education Foundations. "Their long-term investment in both our statewide organization and our local education foundations in their service territory is making a meaningful difference, particularly in the STEM education arena."
Some of the largest donations this year include:
Duke Energy has given more than $56 million to Florida charitable organizations since 2000.The grants are administered through the Duke Energy Foundation, which provides philanthropic support to address the needs vital to the health of communities served by Duke Energy, with a focus on education, environment, economic and workforce development and community impact.
Additionally, Duke Energy Florida employees volunteered more than 45,000 hours of community service within the last five years through the "Duke Energy in Action" program. A wrap-up video highlighting Duke Energy Florida volunteer events is available at http://bit.ly/DEFcommunities.
For additional information on Duke Energy's community giving programs visit www.duke-energy.com/foundation.
About Duke Energy Florida
Duke Energy Florida owns coal-fired and natural gas generation providing about 9,100 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Peveeta Persaud
Office: 727.820.5592
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/12/2016Duke Energy Indiana state president asks grads: 'Have you now finished your education?'
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., May 10, 2016 /PRNewswire/ -- Melody Birmingham-Byrd, Duke Energy (NYSE: DUK) state president for Indiana, had a question for the graduating class of St. Mary-of-the-Woods College: "Have you now finished your education?"
Speaking during the May 7 commencement at the Terre Haute school, Birmingham-Byrd congratulated the students for what they had accomplished... so far.
"I have a question for you, she quickly added. "I want you to think long and hard about how you answer that question. Because how and what you do after today may direct you down one of two paths:
"'Learning how to learn.' That really is the primary, fundamental goal of a college education. Learning to apply critical thinking skills as you choose your approach to people and groups who think differently than you, who have a different view of the world, and different ideas about what is right, and what is wrong. Learning how to devise creative solutions to complex problems. Learning how, over time, the many ways to make a positive impact in your respective families, workplaces, and communities.
"The word 'leadership' often causes us to think of someone in a position of responsibility, someone in command of a place or situation, or someone who can exert power and authority.
"However, there's a different definition of leadership that I like and apply to my life, that being: 'Leadership is influence – nothing more, nothing less.'
"In truth, leadership has nothing to do with positional power or authority. Leadership is not defined by how many people report to you, how much money you make, how large your office is, how much control you have (or think you have) or anything else we normally think of as the definition of leadership.
"You see, in reality, each and every one of us here today is a leader. Each of us has the ability to influence another person, group of people, or situation, to achieve an acceptable and positive result. If you have influence, you are a leader."
The Duke Energy Indiana president closed with this advice:
"First, don't let the completion of the key milestone be the end of your journey. The late Dr. Martin Luther King, Jr. once said, 'If you can't fly, then run. If you can't run, then walk. If you can't walk, then crawl. But whatever you do, you have to keep moving forward.'
"Second, you don't have to be the proverbial 'hero' to demonstrate everyday courage.
"Third, courage inspires leadership, and leadership is influence. Kenneth Blanchard says, 'The key to leadership today is influence, not authority.'
"Finally, don't be afraid to change, or to step outside of your comfort zone. When you step out of your comfort zone, you are stepping into what could very well become greatness. You can't become a better version of yourself unless you are willing to stretch beyond what you already know."
Duke Energy Indiana
Duke Energy Indiana's operations provide about 7,500 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/10/2016Duke Energy Renewables enters New Mexico with a 25-MW solar project
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 10, 2016 /PRNewswire/ -- Duke Energy Renewables today announced construction has begun on the 25-megawatt (MW) Caprock Solar Power Project near Tucumcari in Quay County, New Mexico.
The company acquired the project from Infigen Energy.
With completion expected later this year, the solar installation will generate enough energy to power about 5,000 average homes.
Power from the project will be sold to Western Farmers Electric Cooperative (WFEC) under a 25-year agreement.
"We are pleased to bring this solar project to New Mexico and add the state to our growing U.S. renewables footprint," said Greg Wolf, president, Duke Energy Commercial Portfolio. "We're also excited to be partnering with a progressive cooperative like WFEC, which reflects our commitment to provide clean energy solutions for utilities, cooperatives, municipalities, corporations and other organizations."
Brian Hobbs, WFEC vice president of legal and corporate services, explained that WFEC has been looking at solar energy for about 10 years. "The costs of installing solar have dramatically decreased in the past few years and are much closer to competing with more traditional forms of generation. Coupled with other benefits, such as no ongoing fuel costs and decreased emissions, we felt the timing was right to introduce solar into our generation mix.
"We believe diversity of electric generation resources and technology is vital to long-term, low-cost electric energy," Hobbs added. "That's why we maintain such a diverse portfolio. WFEC is pleased to work with Duke Energy Renewables to bring solar energy to rural electric cooperative members in southeast New Mexico."
EPC contractor Swinerton Renewable Energy will build the solar project, which will consist of more than 103,000 solar panels manufactured by Jinko Solar.
In its commercial business and regulated utilities, Duke Energy owns and operates more than 2,600 MW of wind and solar energy – enough to power 720,000 average homes at peak production. The company has invested more than $4 billion in renewable energy and plans to invest another $3 billion over the next five years.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 43 solar farms in operation in 13 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Western Farmers Electric Cooperative
Western Farmers Electric Cooperative (WFEC), organized in 1941, is a generation and transmission (G&T) cooperative that provides electric service to 21 member cooperatives and Altus Air Force Base. These members are located primarily in Oklahoma and New Mexico, with some service territories extending into portions of Texas and Kansas. Now in its 75th year of operation, the Anadarko-based G&T has six generating facilities, located at Mooreland, Anadarko and Hugo, Oklahoma, and Lovington, New Mexico. WFEC maintains a well-balanced and diversified portfolio, with a total power capacity of more than 2,400 megawatts, including hydropower allocation and other contract power purchases. WFEC owns and maintains more than 3,700 miles of transmission line to more than 330 substations and switch stations.
Contact: Tammie McGee
800.559.3853
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SOURCE Duke Energy
Article Date
5/10/2016Duke Energy awards $730,000 in Water Resources Fund grants to local organizations
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 9, 2016 /PRNewswire/ -- Nine organizations in North Carolina and South Carolina will share $730,000 in new grants from the Water Resources Fund to improve local water quality.
Projects run the gamut, including providing additional public access along the Catawba River, protecting wetlands on the Waccamaw River, and permanently protecting land along rivers in Randolph and Stokes counties.
The Water Resources Fund is a $10 million, multiyear commitment from Duke Energy to help local nonprofits continue to protect and improve the environment, including waterways used year-round across the Carolinas and neighboring states.
"The Water Resources Fund reflects our ongoing commitment to protect water resources that are vital to the health of the region," said Shawn Heath, president of the Duke Energy Foundation. "The projects across the Carolinas will leave a legacy of improved water quality and conservation for decades to come."
The fund was announced in September 2014. Recipients are selected by an independent body that includes five environmental experts and two Duke Energy employees.
Water Resources Fund grant recipients and projects
North Carolina
"Our town is growing, and public access to the Catawba River is vital for our residents and visitors, said Belmont Mayor Charlie Martin. "This grant will enhance our new Kevin Loftin Riverfront Park by providing access to the Catawba. I'm thrilled to accept the Water Resources Fund grant on behalf of our city council."
South Carolina
"Swan Lake lies at the heart of Furman University's campus," said Dr. Weston Dripps, director of the David E. Shi Center for Sustainability and professor of earth and environmental science at Furman University. "This project highlights Furman's ongoing efforts and commitment to promoting environmental stewardship and responsibility. We are honored to be selected for this grant and thank Duke Energy for its support."
About the Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of its communities. Annually, the foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit duke-energy.com/foundation.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Anne Sheffield
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/9/2016Energy Companies Launch Critical Transmission Equipment Sparing Company
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
COLUMBUS, Ohio, May 9, 2016 /PRNewswire/ -- Six energy companies Friday officially launched Grid Assurance™, an independent company providing transmission sparing solutions for critical electric transmission equipment.
Michael Deggendorf, senior vice president, Kansas City Power & Light (KCP&L), was named Grid Assurance™ CEO and will oversee the formation and operations of the company. At KCP&L, Deggendorf has led FERC-regulated transmission business efforts, Transource and the development of Grid Assurance™.
Grid Assurance™ was founded by affiliates of American Electric Power (NYSE:AEP), Berkshire Hathaway Energy, Duke Energy (NYSE:DUK), Edison International (NYSE:EIX), Eversource Energy (NYSE:ES) and Great Plains Energy (NYSE:GXP) to enhance grid resiliency and give electric transmission owners faster access to long-lead time critical equipment necessary to recover from catastrophic events that could impact the nation's electric grid.
Several energy companies signed a memorandum of understanding to pursue development of Grid Assurance™ in June 2015. The companies sought and secured regulatory assurances from the Federal Energy Regulatory Commission for the structure and other components of Grid Assurance™ before officially launching the company.
"Grid Assurance™ is an industry-led, proactive response to the numerous potential risks facing our nation's transmission system including severe weather and catastrophic events like earthquakes or physical and cyberattacks," Deggendorf said. "By maintaining a readily available supply of critical equipment necessary to restore power delivery if the transmission system is severely damaged, Grid Assurance™ will help protect consumers and communities from the devastating impacts that delays in restoring electricity can have on quality of life and the nation's economy."
Deggendorf will bring on key management team members in the coming weeks. Marketing to and accepting subscribers will begin immediately, followed by ordering critical transmission sparing equipment based on secured subscriptions. A headquarters location for Grid Assurance™ will be determined in the coming months.
Restoring critical elements of the transmission system can be delayed by extended lead times required to design, build and deliver some replacement equipment including large transformers, circuit breakers and other specialized components of the system. Some transformers can take up to 18 to 24 months to build and deliver.
Grid Assurance™ will provide a readily available inventory of equipment at secure, strategically located warehouses in the United States and also will offer logistics support to facilitate expedited delivery of that equipment to affected sites following a qualifying event. Subscription to inventory and services will be open to all transmission owners. Qualifying events can include physical attacks, cyberattacks, electromagnetic pulses, catastrophic events, solar storms, earthquakes and severe weather events.
"Due to the benefits of inventory pooling, diversification and improved logistics, Grid Assurance™ is a more cost-effective, efficient way for transmission owners to prepare for high-impact, low-frequency events that could severely damage the transmission system, and there has been considerable interest from potential subscribers. It would be significantly more expensive for every transmission owning entity to independently procure and securely house the spare equipment necessary for recovery from rare, but potentially catastrophic events like earthquakes or a coordinated physical or cyberattack," Deggendorf said.
Grid Assurance™ services are intended to complement existing sparing programs at individual energy companies and established industry solutions. Federal agencies and policymakers have identified enhancing transmission system resiliency as a priority and critical to ensuring the viability of the nation's electric system. Grid Assurance™ is working with industry experts and government agencies to ensure that Grid Assurance™ is aligned with the federal government's efforts to secure the transmission grid. Subscription to Grid Assurance™ will serve as a permissible element of compliance with the resiliency requirements of the North American Electric Reliability Corporation.
About Grid Assurance™:
Affiliates of American Electric Power (NYSE:AEP), Berkshire Hathaway Energy, Duke Energy (NYSE:DUK), Edison International (NYSE:EIX), Eversource Energy (NYSE:ES) and Great Plains Energy (NYSE:GXP) are founding member companies of Grid Assurance™ , a limited liability company that offers cost-effective solutions for enhancing transmission system grid resiliency and faster access to critical transmission equipment following a catastrophic event. Additional information is available at GridAssurance.com.
SOURCE American Electric Power
Article Date
5/9/2016Duke Energy, Duke University partner on innovative power project
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 9, 2016 /PRNewswire/ -- Duke Energy (NYSE: DUK) and Duke University today announced a partnership that will lead to cleaner and more efficient power for the university and the surrounding community.
Under a proposed 35-year agreement and subject to approval by the North Carolina Utilities Commission (NCUC), Duke Energy Carolinas proposes to own, build and operate a 21-megawatt (MW) natural gas combined heat and power (CHP) facility on the Duke University campus in Durham.
If approved, the plant would use the waste heat from generating electricity to produce thermal energy and steam needed for the university, making it one of the most efficient generating assets in the Duke Energy generation fleet. The electric power would be put back on the Duke Energy electric grid to serve the university and nearby customers.
"This project will provide a cleaner and more diverse energy mix for the community and provide the value of thermal energy for the university," said David Fountain, Duke Energy North Carolina president. "The innovative approach provides multiple benefits to a large customer like Duke University and is a cost-effective generation asset for Duke Energy and our customers in North Carolina."
In addition to 21 megawatts of power, the facility would be capable of producing roughly 75,000 pounds per hour of steam, which would be sold to Duke University for heating water among other things. The CHP facility would be connected to an existing Duke Energy substation located on the campus, which serves the university and its medical center as well as other customers.
"This partnership will provide value for Duke University and will accelerate our progress towards climate neutrality," said Duke University's executive vice president Tallman Trask III. "By combining steam and electricity generation systems, we can increase efficiency and reduce our overall consumption by millions of units of energy each year, and have a positive effect on the community at large."
By displacing the current electricity mix and boilers currently serving the university, the project would lower energy-related carbon dioxide emissions at Duke University by about 25 percent. In the future, the project could also be used to isolate the critical loads on the campus, providing a method to increase reliability to hospitals and clinics as additional grid back up.
Duke Energy Carolinas will file with the NCUC for a Certificate of Public Convenience and Necessity for the project. If approved, the project – around $55 million – is expected to come online in 2018.
Duke Energy and Duke University are separate organizations – both with a connection to noted businessman James B. Duke (1856-1925).
About CHP
Sometimes referred to as cogeneration, CHP systems generate electricity and useful thermal energy in a single system. Heat that is normally wasted in conventional power generation is recovered -- avoiding the losses that would otherwise occur. CHP systems are more efficient than doing the same tasks with separate systems.
"Advancements in the technology make this type of system attractive to other large customers with similar power and related-energy needs," added Fountain. "We are excited to offer this service."
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Duke University
Duke University consistently ranks among the leading institutions of higher education in the world. Duke educates 6,500 undergraduate and 8,500 graduate and professional students in ten schools and colleges, and has more than 160,000 alumni. While Duke's campus is situated on nearly 9,000 acres in Durham, the university's reach includes partner institutions in Singapore, China and many other countries. With more than 36,000 faculty and staff in the university and health system, Duke is the second-largest private employer in North Carolina.
Contact: Randy Wheeless, Duke Energy
Office: 704.382.8379
24-Hour: 800.559.3853
Randy.wheeless@duke-energy.com
Twitter: @DE_RandyW
Contact: Alison Jones, Duke University
Office: 919.681.8052
Alison.jones@duke.edu
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SOURCE Duke Energy
Article Date
5/9/2016Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
CHARLOTTE, N.C., May 5, 2016 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.825 per share payable on June 16, 2016, to shareholders of record at the close of business May 20, 2016.
Duke Energy has paid a cash dividend for 90 consecutive years.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analyst Contact: Bill Currens
704.382.1603
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SOURCE Duke Energy
Article Date
5/5/2016Duke Energy focused on customers, future strategy, CEO tells shareholders
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 5, 2016 /PRNewswire/ -- Duke Energy is focused on its customers and future strategy in a rapidly evolving industry, CEO Lynn Good told investors at the company's annual shareholder meeting today.
"Our customers are at the center of everything we do," Good said.
Today, 24 million people depend on Duke Energy for electric service, she said, adding that the company is focused on serving its customers well, day in and day out, while also making the right strategic moves for the future.
Duke Energy is seeking to transform the customer experience by providing customers with more billing options, additional energy usage information and new tools to help manage and reduce energy costs, she said.
The company also is modernizing its electric power grid by installing flexible infrastructure, adding new technology to make power outages increasingly rare and deploying battery storage systems that will play a big part in the nation's energy future, Good said.
In addition, Duke Energy is strongly committed to lower-carbon electricity generation, she said. The company has invested more than $4 billion in wind and solar facilities in 12 states since 2007.
Both renewable energy and natural gas will play key roles as the company generates cleaner electricity for its customers in the years ahead, Good said.
Duke Energy was instrumental in helping North Carolina achieve the No. 2 national ranking among all states in new solar installations in 2015, and the No. 3 national ranking in total solar capacity.
The company plans to invest an additional $3 billion in renewable energy capacity over the next five years. In addition to more renewable projects in North Carolina, the company is seeking to add renewable generation in South Carolina, Florida and Indiana.
Duke Energy also is investing heavily in natural gas, Good said, citing its ownership stakes in two new natural gas pipelines, proposed acquisition of Piedmont Natural Gas and construction of gas-fired power plants in North Carolina, South Carolina and Florida to replace coal-fired plants.
Duke Energy is focused on a balanced, increasingly clean energy mix, she said. That means continuing to retire coal-fired units and making greater use of renewable energy and natural gas, which complement the company's carbon-free nuclear power plants.
"More than 40 percent of the electricity we generated in the Carolinas in 2015 was from carbon-free sources," Good said.
Customer-driven energy efficiency initiatives also will continue to play a major role in Duke Energy's long-term strategy, Good said.
The company recently achieved a significant energy-saving milestone through its "My Home Energy Report" program, which provides customers with customized energy-usage reports.
Over the past six years, the program helped customers save 1 terawatt-hour of electricity – enough to meet the lighting needs of more than 1 million homes for a year, Good said.
Duke Energy also offers a variety of other energy-efficiency programs to help customers save money.
One example: the company has provided more than 70 million deeply discounted, energy-efficient lighting products to customers since 2009.
Regarding coal ash, Good said Duke Energy continues to make significant progress toward the closure of ash basins at its operating and retired coal-fired power plants in North Carolina and South Carolina.
The company is closing ash basins in a safe manner, with a focus on protecting the environment, minimizing community impacts and effectively managing costs, she said.
Also at today's meeting, shareholders elected all 12 board of director nominees, with each receiving at least 95 percent of the votes cast.
Shareholders narrowly approved a non-binding shareholder proposal that seeks to eliminate a supermajority voting requirement in the company's certificate of incorporation, with 53 percent in favor.
Shareholders rejected a second non-binding shareholder proposal that sought additional disclosure about the company's lobbying expenses, with only 29 percent in favor.
Details on the proposals appear in the company's March 24, 2016 proxy statement: https://iiwisdom.com/duk-2016/
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is an S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Dave Scanzoni
Office: 704.382.2543 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
5/5/2016Duke Energy reports first quarter 2016 adjusted earnings
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., May 3, 2016 /PRNewswire/ --
Duke Energy (NYSE: DUK) today announced first quarter 2016 adjusted diluted EPS of $1.13, compared to $1.24 for first quarter 2015. First quarter 2016 reported EPS was $1.01, compared to $1.22 for first quarter 2015.
Adjusted diluted EPS for the first quarter of 2016 were lower than the prior year, primarily due to milder winter weather, the absence of prior-year Midwest Generation results, and higher winter storm costs. International's results were supported by a favorable tax adjustment and stronger results in Brazil.
Based upon results through the first quarter, the company remains on track to achieve its 2016 adjusted diluted earnings guidance range of $4.50 to $4.70 per share.
"Operational excellence continues to underpin our commitment to our customers, communities and investors," said Lynn Good, chairman, president and CEO. "This was evidenced by our quick response in restoring more than 1.1 million customers after multiple winter storms in the Carolinas.
"Equally important, we continued to make investments to better serve our customers -- expanding natural gas and renewable generation investments, modernizing the electric grid and investing in infrastructure while continuing to efficiently manage our operations."
Business unit results
In addition to the summary business unit discussion below, a comprehensive table of quarterly adjusted earnings per share drivers compared to the prior year is provided on page 14.
The discussion below of first-quarter results includes adjusted segment income, which is a non-GAAP financial measure. The tables on pages 23 and 24 present a reconciliation of reported results to adjusted results.
During the first quarter of 2016, Duke Energy began to evaluate interim period segment performance based on financial information that includes the impact of income tax levelization within segment income. This represents a change from the previous measure, where the interim period impacts of income tax levelization were included within Other, and therefore excluded from segment income. As a result, prior period segment results presented in this release have been recast to conform to this change.
Regulated Utilities
Regulated Utilities recognized first quarter 2016 adjusted segment income of $695 million, compared to $774 million in the first quarter 2015, a decrease of $0.11 per share.
Lower quarterly results at Regulated Utilities were primarily driven by:
These unfavorable drivers were partially offset by:
Commercial Portfolio
Commercial Portfolio recognized first quarter 2016 adjusted segment income of $27 million, compared to $101 million in the first quarter 2015, a decrease of $0.11 per share.
Lower quarterly results at Commercial Portfolio were primarily driven by the absence of earnings from the Midwest Generation business (-$0.12 per share), which was sold in April 2015, partially offset by stronger results from the renewables portfolio (+$0.01 per share).
International Energy
International Energy recognized first quarter 2016 adjusted segment income of $123 million, compared to $36 million in the first quarter 2015, an increase of $0.13 per share.
International Energy's improved quarterly earnings were driven by lower tax expense (+$0.11 per share) and stronger results in Brazil (+$0.05 per share), primarily due to improved hydrology. These results were partially offset by weaker foreign currency exchange rates (-$0.02 per share).
Other
On an adjusted basis, Other primarily includes corporate interest expense not allocated to the business units, results from Duke Energy's captive insurance company, and other investments.
Other recognized a first quarter 2016 adjusted net expense of $68 million, compared to net expense of $30 million in the first quarter 2015. The $0.06 per share decrease was primarily driven by tax adjustments in the prior year (-$0.04 per share) and higher interest expense (-$0.01 per share).
The consolidated adjusted effective tax rate for first quarter 2016 was 26 percent, compared to 32 percent in the first quarter of 2015. Adjusted effective tax rate is a non-GAAP financial measure. The tables on pages 25 and 26 present a reconciliation of reported effective tax rate to adjusted effective tax rate.
Accelerated stock repurchase program
In connection with the transaction to sell the Midwest Generation business to Dynegy for $2.8 billion, which closed on April 2, 2015, Duke Energy completed a $1.5 billion accelerated stock repurchase program (ASR). The program resulted in share retirements of approximately 19.8 million, providing a benefit to the first quarter 2016 results of approximately 4 cents per share.
Earnings conference call for analysts
An earnings conference call for analysts is scheduled for 10 a.m. ET today to discuss Duke Energy's financial performance for the quarter and other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-856-1955 in the United States or 719-325-4765 outside the United States. The confirmation code is 7567946. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 13, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 7567946. A replay and transcript also will be available by accessing the investors' section of the company's website.
Special Items and Non-GAAP Reconciliation
Special items affecting Duke Energy's adjusted diluted EPS for quarterly results in 2016 and 2015 include:
|
(In millions, except per-share amounts) |
After-Tax Amount |
1Q 2016 EPS Impact |
1Q 2015 EPS Impact |
|
First Quarter 2016 |
|||
|
Cost to achieve, mergers |
$(74) |
$(0.11) |
|
|
Cost savings initiatives |
(12) |
(0.02) |
|
|
Discontinued operations |
3 |
0.01 |
|
|
First Quarter 2015 |
|||
|
Cost to achieve, mergers |
$(13) |
$(0.02) | |
|
Discontinued operations (1) |
(4) |
-- | |
|
Total diluted EPS impact |
$(0.12) |
$(0.02) |
(1) Amounts exclude the Midwest Generation business operating results of $0.13 per diluted share included in reported income from discontinued operations, and included within adjusted diluted EPS.
Reconciliation of reported to adjusted diluted EPS for the quarter:
|
1Q 2016 |
1Q 2015 | |
|
Diluted EPS, as reported |
$1.01 |
$1.22 |
|
Adjustments to reported EPS: |
||
|
Diluted EPS impact of special items and discontinued operations |
0.12 |
0.02 |
|
Diluted EPS, adjusted |
$1.13 |
$1.24 |
Non-GAAP financial measures
Management evaluates financial performance in part based on non-GAAP financial measures, adjusted earnings and adjusted diluted EPS. These items represent income from continuing operations net of income (loss) attributable to noncontrolling interests, adjusted for the dollar and per-share impact of special items. Special items represent certain charges and credits, which management believes will not be recurring on a regular basis. The special items for the period ended March 31, 2015, include the operating results of the nonregulated Midwest generation business and Duke Energy Retail Sales (collectively, the Disposal Group) which are classified as discontinued operations for GAAP purposes. Management believes inclusion of the Disposal Group's operating results within adjusted earnings and adjusted diluted EPS results in a better reflection of Duke Energy's financial performance. Costs to achieve mergers includes financing costs related to the Bridge Facility and the mark-to-market unrealized losses related to the forward-starting interest rate swaps used by Duke Energy to manage interest rate exposure for the expected financing of the Piedmont acquisition. The mark-to-market impact of forward-starting interest rate swaps is recognized in GAAP earnings immediately as the contracts do not qualify for hedge accounting or regulatory treatment. Management believes excluding the impact of the mark-to-market losses of the forward-starting interest rate swaps from adjusted earnings better reflects Duke Energy's financial performance and therefore has excluded these impacts from adjusted earnings and adjusted diluted EPS. Management believes the presentation of adjusted earnings and adjusted diluted EPS provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy's performance across periods. Management uses these non-GAAP financial measures for planning and forecasting and for reporting results to the Board of Directors, employees, stockholders, analysts and investors concerning Duke Energy's financial performance. Adjusted diluted EPS is also used as a basis for employee incentive bonuses. The most directly comparable GAAP measures for adjusted earnings and adjusted diluted EPS are Net Income Attributable to Duke Energy Corporation and Diluted EPS Attributable to Duke Energy Corporation common stockholders.
Management evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to noncontrolling interests. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated in the Condensed Consolidated Financial Statements. Management also uses adjusted segment income as a measure of historical and anticipated future segment performance. Adjusted segment income is a non-GAAP financial measure, as it is based upon segment income adjusted for special items, including the operating results of the Disposal Group classified as discontinued operations for GAAP purposes. Management believes the presentation of adjusted segment income as presented provides useful information to investors, as it provides them with an additional relevant comparison of a segment's performance across periods. The most directly comparable GAAP measure for adjusted segment income is segment income, which represents segment income from continuing operations not adjusted for any special items.
Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items for future periods.
Due to the forward-looking nature of any forecasted adjusted segment income or adjusted Other net expenses and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as the company is unable to forecast all special items or any amounts that may be reported as discontinued operations or extraordinary items for future periods.
Duke Energy's adjusted earnings, adjusted diluted EPS, and adjusted segment income may not be comparable to similarly titled measures of another company because other entities may not calculate the measures in the same manner.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to successfully complete future merger, acquisition or divestiture plans; the expected timing and likelihood of completion of the proposed acquisition of Piedmont Natural Gas Company, Inc. (Piedmont), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed acquisition that could reduce anticipated benefits or cause the parties to abandon the acquisition, and under certain specified circumstance pay a termination fee of $250 million, as well as the ability to successfully integrate the businesses and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; and the likelihood, terms and timing of the potential sale of International Energy, excluding the equity investment in National Methanol Company, could change the presentation of certain assets, liabilities and results of operations as assets held for sale, liabilities associated with assets held for sale, and discontinued operations, respectively.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analysts: Bill Currens
Office: 704.382.1603
|
March 2016 | |||||||
|
QUARTERLY HIGHLIGHTS | |||||||
|
(Unaudited) | |||||||
|
Three Months Ended March 31, |
|||||||
|
(In millions, except per-share amounts and where noted) |
2016 |
2015 |
|||||
|
Earnings Per Share - Basic and Diluted |
|||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.00 |
$ |
1.09 |
|||
|
Diluted |
$ |
1.00 |
$ |
1.09 |
|||
|
Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
0.01 |
$ |
0.13 |
|||
|
Diluted |
$ |
0.01 |
$ |
0.13 |
|||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.01 |
$ |
1.22 |
|||
|
Diluted |
$ |
1.01 |
$ |
1.22 |
|||
|
Weighted-average shares outstanding |
|||||||
|
Basic |
689 |
708 |
|||||
|
Diluted |
689 |
708 |
|||||
|
SEGMENT INCOME (LOSS) BY BUSINESS SEGMENT |
|||||||
|
Regulated Utilities |
$ |
695 |
$ |
774 |
|||
|
International Energy(a) |
123 |
36 |
|||||
|
Commercial Portfolio |
27 |
7 |
|||||
|
Total Reportable Segment Income |
845 |
817 |
|||||
|
Other Net Expense(b)(c) |
(154) |
(43) |
|||||
|
Intercompany Eliminations |
— |
(1) |
|||||
|
Income from Discontinued Operations, net of tax |
3 |
91 |
|||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
694 |
$ |
864 |
|||
|
CAPITALIZATION |
|||||||
|
Total Common Equity |
48% |
49% |
|||||
|
Total Debt |
52% |
51% |
|||||
|
Total Debt |
$ |
43,794 |
$ |
43,608 |
|||
|
Book Value Per Share |
$ |
57.98 |
$ |
58.03 |
|||
|
Actual Shares Outstanding |
689 |
708 |
|||||
|
CAPITAL AND INVESTMENT EXPENDITURES |
|||||||
|
Regulated Utilities |
$ |
1,448 |
$ |
1,262 |
|||
|
International Energy |
5 |
12 |
|||||
|
Commercial Portfolio |
214 |
122 |
|||||
|
Other |
37 |
58 |
|||||
|
Total Capital and Investment Expenditures |
$ |
1,704 |
$ |
1,454 |
|||
|
Note: Prior period segment income (loss) has been recast to conform with the new segment income measure. | |||||||
|
(a) Includes a tax benefit of $84 million related to lower income taxes resulting from the decision to divest the International Energy segment combined with more efficient utilization of foreign tax credits, net of the impact of no longer asserting indefinite reinvestment of foreign earnings for the three months ended March 31, 2016. | |||||||
|
(b) Includes costs to achieve mergers of $74 million for the three months ended March 31, 2016 (net of tax of $46 million) and $13 million for the three months ended March 31, 2015 (net of tax of $8 million). | |||||||
|
(c) Includes a charge of $12 million for the three months ended March 31, 2016, related to cost savings initiatives (net of tax of $8 million). | |||||||
|
March 2016 | |||||||
|
QUARTERLY HIGHLIGHTS | |||||||
|
(Unaudited) | |||||||
|
Three Months Ended | |||||||
|
March 31, | |||||||
|
(In millions, except for GWh and MW amounts) |
2016 |
2015 |
|||||
|
REGULATED UTILITIES |
|||||||
|
Operating Revenues |
$ |
5,259 |
$ |
5,723 |
|||
|
Operating Expenses |
3,967 |
4,305 |
|||||
|
Gains on Sales of Other Assets, net |
1 |
7 |
|||||
|
Operating Income |
1,293 |
1,425 |
|||||
|
Other Income and Expenses |
64 |
72 |
|||||
|
Interest Expense |
277 |
275 |
|||||
|
Income Before Income Taxes |
1,080 |
1,222 |
|||||
|
Income Tax Expense |
385 |
448 |
|||||
|
Segment Income |
$ |
695 |
$ |
774 |
|||
|
Depreciation and Amortization |
$ |
728 |
$ |
698 |
|||
|
INTERNATIONAL ENERGY |
|||||||
|
Operating Revenues |
$ |
246 |
$ |
273 |
|||
|
Operating Expenses |
154 |
207 |
|||||
|
Operating Income |
92 |
66 |
|||||
|
Other Income and Expenses |
16 |
14 |
|||||
|
Interest Expense |
22 |
23 |
|||||
|
Income Before Income Taxes |
86 |
57 |
|||||
|
Income Tax (Benefit) Expense(a) |
(39) |
20 |
|||||
|
Less: Income Attributable to Noncontrolling Interests |
2 |
1 |
|||||
|
Segment Income |
$ |
123 |
$ |
36 |
|||
|
Depreciation and Amortization |
$ |
22 |
$ |
23 |
|||
|
Sales, GWh |
5,880 |
4,470 |
|||||
|
Proportional MW Capacity in Operation |
4,315 |
4,335 |
|||||
|
COMMERCIAL PORTFOLIO |
|||||||
|
Operating Revenues |
$ |
114 |
$ |
73 |
|||
|
Operating Expenses |
111 |
89 |
|||||
|
Gains on Sales of Other Assets, net |
1 |
— |
|||||
|
Operating Income (Loss) |
4 |
(16) |
|||||
|
Other Income and Expenses |
2 |
2 |
|||||
|
Interest Expense |
12 |
12 |
|||||
|
Loss Before Income Taxes |
(6) |
(26) |
|||||
|
Income Tax Benefit |
(33) |
(33) |
|||||
|
Segment Income |
$ |
27 |
$ |
7 |
|||
|
Depreciation and Amortization |
$ |
30 |
$ |
24 |
|||
|
Actual Renewable Plant Production, GWh |
2,060 |
1,310 |
|||||
|
Net Proportional MW Capacity in Operation |
1,963 |
1,415 |
|||||
|
OTHER |
|||||||
|
Operating Revenues |
$ |
29 |
$ |
27 |
|||
|
Operating Expenses(b)(c)(d) |
92 |
50 |
|||||
|
Gains on Sales of Other Assets, net |
7 |
7 |
|||||
|
Operating Loss |
(56) |
(16) |
|||||
|
Other Income and Expenses |
10 |
1 |
|||||
|
Interest Expense(e) |
205 |
97 |
|||||
|
Loss Before Income Taxes |
(251) |
(112) |
|||||
|
Income Tax Benefit(f)(g)(h) |
(100) |
(71) |
|||||
|
Less: Income Attributable to Noncontrolling Interests |
3 |
2 |
|||||
|
Segment Net Expense |
$ |
(154) |
$ |
(43) |
|||
|
Depreciation and Amortization |
$ |
34 |
$ |
32 |
|||
|
Note: Prior period has been recast to conform with the new segment income measure. | |||||||
|
(a) Includes a tax benefit of $84 million related to lower income taxes resulting from the decision to divest the International Energy segment combined with more efficient utilization of foreign tax credits, net of the impact of no longer asserting indefinite reinvestment of foreign earnings, for the three months ended March 31, 2016. | |||||||
|
(b) Includes costs to achieve mergers of $19 million for the three months ended March 31, 2016. | |||||||
|
(c) Includes a charge of $20 million for the three months ended March 31, 2016, related to cost savings initiatives. | |||||||
|
(d) Includes costs to achieve Progress merger of $21 million for the three months ended March 31, 2015. | |||||||
|
(e) Includes costs to achieve mergers of $100 million for the three months ended March 31, 2016. | |||||||
|
(f) Includes a tax benefit related to costs to achieve mergers of $46 million for the three months ended March 31, 2016. | |||||||
|
(g) Includes a tax benefit related to cost savings initiatives of $8 million for the three months ended March 31, 2016. | |||||||
|
(h) Includes a tax benefit related to costs to achieve Progress merger of $8 million for the three months ended March 31, 2015. | |||||||
|
DUKE ENERGY CORPORATION | |||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | |||||||
|
(Unaudited) | |||||||
|
(In millions, except per-share amounts) | |||||||
|
Three Months Ended March 31, | |||||||
|
2016 |
2015 | ||||||
|
Operating Revenues |
|||||||
|
Regulated electric |
$ |
5,053 |
$ |
5,457 |
|||
|
Nonregulated electric and other |
400 |
377 |
|||||
|
Regulated natural gas |
169 |
231 |
|||||
|
Total operating revenues |
5,622 |
6,065 |
|||||
|
Operating Expenses |
|||||||
|
Fuel used in electric generation and purchased power - regulated |
1,577 |
1,941 |
|||||
|
Fuel used in electric generation and purchased power - nonregulated |
58 |
104 |
|||||
|
Cost of natural gas |
60 |
111 |
|||||
|
Operation, maintenance and other |
1,489 |
1,426 |
|||||
|
Depreciation and amortization |
814 |
777 |
|||||
|
Property and other taxes |
297 |
264 |
|||||
|
Impairment charges |
3 |
— |
|||||
|
Total operating expenses |
4,298 |
4,623 |
|||||
|
Gains on Sales of Other Assets and Other, net |
9 |
14 |
|||||
|
Operating Income |
1,333 |
1,456 |
|||||
|
Other Income and Expenses |
|||||||
|
Equity in earnings of unconsolidated affiliates |
8 |
13 |
|||||
|
Other income and expenses, net |
79 |
74 |
|||||
|
Total other income and expenses |
87 |
87 |
|||||
|
Interest Expense |
511 |
403 |
|||||
|
Income from Continuing Operations before Income Taxes |
909 |
1,140 |
|||||
|
Income Tax Expense from Continuing Operations |
213 |
364 |
|||||
|
Income from Continuing Operations |
696 |
776 |
|||||
|
Income from Discontinued Operations, net of tax |
3 |
91 |
|||||
|
Net Income |
699 |
867 |
|||||
|
Less: Net Income Attributable to Noncontrolling Interests |
5 |
3 |
|||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
694 |
$ |
864 |
|||
|
Earnings Per Share - Basic and Diluted |
|||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.00 |
$ |
1.09 |
|||
|
Diluted |
$ |
1.00 |
$ |
1.09 |
|||
|
Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
0.01 |
$ |
0.13 |
|||
|
Diluted |
$ |
0.01 |
$ |
0.13 |
|||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||
|
Basic |
$ |
1.01 |
$ |
1.22 |
|||
|
Diluted |
$ |
1.01 |
$ |
1.22 |
|||
|
Weighted-average shares outstanding |
|||||||
|
Basic |
689 |
708 |
|||||
|
Diluted |
689 |
708 |
|||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
|
(Unaudited) | ||||||||
|
(in million, except per-share amounts) |
March 31, 2016 |
December 31, 2015 | ||||||
|
ASSETS |
||||||||
|
Current Assets |
||||||||
|
Cash and cash equivalents |
$ |
778 |
$ |
857 |
||||
|
Receivables (net of allowance for doubtful accounts of $18 at March 31, 2016 and December 31, 2015) |
609 |
703 |
||||||
|
Restricted receivables of variable interest entities (net of allowance for doubtful accounts of $55 at March 31, 2016 and $53 at December 31, 2015) |
1,714 |
1,748 |
||||||
|
Inventory |
3,721 |
3,810 |
||||||
|
Regulatory assets |
813 |
877 |
||||||
|
Other |
308 |
327 |
||||||
|
Total current assets |
7,943 |
8,322 |
||||||
|
Investments and Other Assets |
||||||||
|
Investments in equity method unconsolidated affiliates |
547 |
499 |
||||||
|
Nuclear decommissioning trust funds |
5,880 |
5,825 |
||||||
|
Goodwill |
16,349 |
16,343 |
||||||
|
Other |
3,036 |
3,042 |
||||||
|
Total investments and other assets |
25,812 |
25,709 |
||||||
|
Property, Plant and Equipment |
||||||||
|
Cost |
113,942 |
112,826 |
||||||
|
Accumulated depreciation and amortization |
(38,154) |
(37,665) |
||||||
|
Generation facilities to be retired, net |
644 |
548 |
||||||
|
Net property, plant and equipment |
76,432 |
75,709 |
||||||
|
Regulatory Assets and Deferred Debits |
||||||||
|
Regulatory assets |
11,483 |
11,373 |
||||||
|
Other |
39 |
43 |
||||||
|
Total regulatory assets and deferred debits |
11,522 |
11,416 |
||||||
|
Total Assets |
$ |
121,709 |
$ |
121,156 |
||||
|
LIABILITIES AND EQUITY |
||||||||
|
Current Liabilities |
||||||||
|
Accounts payable |
$ |
2,086 |
$ |
2,400 |
||||
|
Notes payable and commercial paper |
3,486 |
3,633 |
||||||
|
Taxes accrued |
394 |
348 |
||||||
|
Interest accrued |
481 |
430 |
||||||
|
Current maturities of long-term debt |
2,075 |
2,074 |
||||||
|
Regulatory liabilities |
404 |
400 |
||||||
|
Other |
1,965 |
2,115 |
||||||
|
Total current liabilities |
10,891 |
11,400 |
||||||
|
Long-Term Debt |
38,232 |
37,495 |
||||||
|
Deferred Credits and Other Liabilities |
||||||||
|
Deferred income taxes |
12,825 |
12,705 |
||||||
|
Investment tax credits |
493 |
472 |
||||||
|
Accrued pension and other post-retirement benefit costs |
1,077 |
1,088 |
||||||
|
Asset retirement obligations |
10,269 |
10,264 |
||||||
|
Regulatory liabilities |
6,278 |
6,255 |
||||||
|
Other |
1,703 |
1,706 |
||||||
|
Total deferred credits and other liabilities |
32,645 |
32,490 |
||||||
|
Commitments and Contingencies |
||||||||
|
Equity |
||||||||
|
Common stock, $0.001 par value, 2 billion shares authorized; 689 million and 688 million shares outstanding at March 31, 2016 and December 31, 2015, respectively |
1 |
1 |
||||||
|
Additional paid-in capital |
37,969 |
37,968 |
||||||
|
Retained earnings |
2,688 |
2,564 |
||||||
|
Accumulated other comprehensive income |
(766) |
(806) |
||||||
|
Total Duke Energy Corporation stockholder's equity |
39,892 |
39,727 |
||||||
|
Noncontrolling interests |
49 |
44 |
||||||
|
Total equity |
39,941 |
39,771 |
||||||
|
Total Liabilities and Equity |
$ |
121,709 |
$ |
121,156 |
||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
(Unaudited) | ||||||||
|
(In millions) | ||||||||
|
Three Months Ended March 31, | ||||||||
|
2016 |
2015 | |||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
|
Net Income |
$ |
699 |
$ |
867 |
||||
|
Adjustments to reconcile net income to net cash provided by operating activities |
965 |
573 |
||||||
|
Net cash provided by operating activities |
1,664 |
1,440 |
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
|
Net cash used in investing activities |
(1,758) |
(1,456) |
||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
|
Net cash provided by financing activities |
15 |
801 |
||||||
|
Net (decrease) increase in cash and cash equivalents |
(79) |
785 |
||||||
|
Cash and cash equivalents at the beginning of period |
857 |
2,036 |
||||||
|
Cash and cash equivalents at end of period |
$ |
778 |
$ |
2,821 |
||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||
|
EARNINGS VARIANCES | ||||||||||||||||||||
|
March 2016 YTD vs. Prior Year | ||||||||||||||||||||
|
($ per share) |
Regulated Utilities |
International Energy |
Commercial Portfolio |
Other |
Consolidated | |||||||||||||||
|
2015 YTD Reported Earnings Per Share, Diluted |
$ |
1.09 |
$ |
0.05 |
$ |
0.01 |
$ |
(0.06) |
$ |
1.22 |
||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
0.02 |
0.02 |
|||||||||||||||
|
Midwest Generation Operations (offset in Discontinued Operations) |
— |
— |
0.13 |
— |
0.13 |
|||||||||||||||
|
Discontinued Operations |
(0.13) |
|||||||||||||||||||
|
2015 YTD Adjusted Earnings Per Share, Diluted |
$ |
1.09 |
$ |
0.05 |
$ |
0.14 |
$ |
(0.04) |
$ |
1.24 |
||||||||||
|
Stock repurchase (a) |
0.03 |
— |
0.01 |
— |
0.04 |
|||||||||||||||
|
Weather |
(0.10) |
— |
— |
— |
(0.10) |
|||||||||||||||
|
Pricing and Riders (b) |
0.07 |
— |
— |
— |
0.07 |
|||||||||||||||
|
Volume |
(0.01) |
— |
— |
— |
(0.01) |
|||||||||||||||
|
Wholesale (c) |
0.01 |
— |
— |
— |
0.01 |
|||||||||||||||
|
Operations and Maintenance, net of recoverables (d) |
(0.01) |
— |
— |
— |
(0.01) |
|||||||||||||||
|
Latin America, including Foreign Exchange Rates (e) |
— |
0.04 |
— |
— |
0.04 |
|||||||||||||||
|
National Methanol Company |
— |
(0.01) |
— |
— |
(0.01) |
|||||||||||||||
|
Duke Energy Renewables, net of tax (f) |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||
|
Midwest Generation, net of tax (g) |
— |
— |
(0.12) |
— |
(0.12) |
|||||||||||||||
|
Interest Expense |
— |
— |
— |
(0.01) |
(0.01) |
|||||||||||||||
|
Change in effective income tax rate (h) |
0.01 |
0.11 |
— |
(0.04) |
0.08 |
|||||||||||||||
|
Other (i) |
(0.08) |
(0.01) |
— |
(0.01) |
(0.10) |
|||||||||||||||
|
2016 YTD Adjusted Earnings Per Share, Diluted |
$ |
1.01 |
$ |
0.18 |
$ |
0.04 |
$ |
(0.10) |
$ |
1.13 |
||||||||||
|
Cost to Achieve, Mergers |
— |
— |
— |
(0.11) |
(0.11) |
|||||||||||||||
|
Cost Savings Initiatives |
— |
— |
— |
(0.02) |
(0.02) |
|||||||||||||||
|
Discontinued Operations |
0.01 |
|||||||||||||||||||
|
2016 YTD Reported Earnings Per Share, Diluted |
$ |
1.01 |
$ |
0.18 |
$ |
0.04 |
$ |
(0.23) |
$ |
1.01 |
||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated statutory income tax rate. | ||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | ||||||||||||||||||||
|
Note 3: Prior year amounts have been recast to conform with the new segment income measure. | ||||||||||||||||||||
|
(a) |
Due to the decrease in common shares outstanding as a result of stock repurchased and retired under the Accelerated Stock Repurchase Program. Weighted-average diluted shares outstanding decreased from 708 million shares for the three months ended March 31, 2015, to 689 million shares for the three months ended March 31, 2016. | |||||||||||||||||||
|
(b) |
Primarily due to higher retail pricing due to lower volumes for Duke Energy Carolinas and Duke Energy Indiana (+$0.03), the NCEMPA rider (+$0.02), higher recoveries on energy efficiency programs in the Carolinas (+$0.01). | |||||||||||||||||||
|
(c) |
Primarily due to the implementation of the new 30-year contract with NCEMPA (+$0.03), partially offset by lower sales volumes (-$0.02). | |||||||||||||||||||
|
(d) |
Primarily due to increased storm restoration costs and costs related to the NCEMPA asset purchase, partially offset by lower outage costs and cost efficiency initiatives. | |||||||||||||||||||
|
(e) |
Primarily due to higher results in Brazil due to improved hydrology (+$0.05), partially offset by weaker foreign currency exchange rates (-$0.02). | |||||||||||||||||||
|
(f) |
Primarily due to higher wind production. | |||||||||||||||||||
|
(g) |
Due to the absence of earnings from the nonregulated Midwest generation business, which was sold in April 2015. | |||||||||||||||||||
|
(h) |
Amount for International Energy includes lower income taxes resulting from the decision to divest the International Energy segment combined with more efficient utilization of foreign tax credits, net of the impact of no longer asserting indefinite reinvestment of foreign earnings. | |||||||||||||||||||
|
(i) |
Amount for Regulated Utilities includes increased depreciation and amortization expense (-$0.06) due to higher depreciable base and higher non-income taxes (-$0.02). | |||||||||||||||||||
|
Regulated Utilities | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
GWH Sales (1) |
|||||||||||||
|
Residential |
21,662 |
24,030 |
(9.9%) |
(0.3%) |
|||||||||
|
General Service |
17,850 |
18,282 |
(2.4%) |
(1.5%) |
|||||||||
|
Industrial |
12,272 |
12,264 |
0.1% |
0.9% |
|||||||||
|
Other Energy Sales |
146 |
152 |
(3.9%) |
||||||||||
|
Unbilled Sales |
(344) |
(1,046) |
67.1% |
n/a |
|||||||||
|
Total Retail Sales |
51,586 |
53,682 |
(3.9%) |
(0.4%) |
|||||||||
|
Special Sales |
11,145 |
9,519 |
17.1% |
||||||||||
|
Total Consolidated Electric Sales - Regulated Utilities |
62,731 |
63,201 |
(0.7%) |
||||||||||
|
Average Number of Customers (Electric) |
|||||||||||||
|
Residential |
6,425,427 |
6,342,548 |
1.3% |
||||||||||
|
General Service |
957,484 |
947,745 |
1.0% |
||||||||||
|
Industrial |
17,936 |
18,183 |
(1.4%) |
||||||||||
|
Other Energy Sales |
23,112 |
22,952 |
0.7% |
||||||||||
|
Total Regular Sales |
7,423,959 |
7,331,428 |
1.3% |
||||||||||
|
Special Sales |
62 |
65 |
(4.6%) |
||||||||||
|
Total Average Number of Customers - Regulated Utilities |
7,424,021 |
7,331,493 |
1.3% |
||||||||||
|
Sources of Electric Energy (GWh) |
|||||||||||||
|
Generated - Net Output (3) |
|||||||||||||
|
Coal |
17,934 |
20,961 |
(14.4%) |
||||||||||
|
Nuclear |
17,999 |
17,389 |
3.5% |
||||||||||
|
Hydro |
1,047 |
495 |
111.5% |
||||||||||
|
Oil and Natural Gas |
16,083 |
14,271 |
12.7% |
||||||||||
|
Renewable Energy |
53 |
3 |
1,666.7% |
||||||||||
|
Total Generation (4) |
53,116 |
53,119 |
—% |
||||||||||
|
Purchased Power and Net Interchange (5) |
12,513 |
13,384 |
(6.5%) |
||||||||||
|
Total Sources of Energy |
65,629 |
66,503 |
(1.3%) |
||||||||||
|
Less: Line Loss and Company Usage |
2,898 |
3,302 |
(12.2%) |
||||||||||
|
Total GWh Sources |
62,731 |
63,201 |
(0.7%) |
||||||||||
|
Owned MW Capacity (3) |
|||||||||||||
|
Summer |
50,157 |
49,739 |
|||||||||||
|
Winter |
53,346 |
52,994 |
|||||||||||
|
Nuclear Capacity Factor (%) (6) |
95 |
94 |
|||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | |||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | |||||||||||||
|
(5) Purchased power includes renewable energy purchases. | |||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | |||||||||||||
|
Regulated Utilities | ||||||||||||
|
Quarterly Highlights | ||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||
|
March 2016 | ||||||||||||
|
Three Months Ended March 31 |
||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
||||||||||
|
Heating and Cooling Degree Days |
||||||||||||
|
Carolinas - Actual |
||||||||||||
|
Heating Degree Days |
1,588 |
1,904 |
(16.6%) |
|||||||||
|
Cooling Degree Days |
28 |
4 |
600.0% |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(6.5%) |
15.0% |
n/a |
|||||||||
|
Cooling Degree Days |
250.0% |
(60.0%) |
n/a |
|||||||||
|
Midwest - Actual |
||||||||||||
|
Heating Degree Days |
2,435 |
3,120 |
(22.0%) |
|||||||||
|
Cooling Degree Days |
— |
— |
—% |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
(9.4%) |
18.6% |
n/a |
|||||||||
|
Cooling Degree Days |
(100.0%) |
(100.0%) |
n/a |
|||||||||
|
Florida - Actual |
||||||||||||
|
Heating Degree Days |
401 |
373 |
7.5% |
|||||||||
|
Cooling Degree Days |
199 |
234 |
(15.0%) |
|||||||||
|
Variance from Normal |
||||||||||||
|
Heating Degree Days |
4.2% |
(4.1%) |
n/a |
|||||||||
|
Cooling Degree Days |
7.6% |
36.0% |
n/a |
|||||||||
|
Duke Energy Carolinas | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
GWH Sales (1) |
|||||||||||||
|
Residential |
7,580 |
8,478 |
(10.6%) |
||||||||||
|
General Service |
6,664 |
6,859 |
(2.8%) |
||||||||||
|
Industrial |
5,078 |
5,075 |
0.1% |
||||||||||
|
Other Energy Sales |
76 |
77 |
(1.3%) |
||||||||||
|
Unbilled Sales |
5 |
(489) |
101.0% |
||||||||||
|
Total Regular Electric Sales |
19,403 |
20,000 |
(3.0%) |
0.3% |
|||||||||
|
Special Sales |
2,222 |
2,468 |
(10.0%) |
||||||||||
|
Total Consolidated Electric Sales - Duke Energy Carolinas |
21,625 |
22,468 |
(3.8%) |
||||||||||
|
Average Number of Customers |
|||||||||||||
|
Residential |
2,138,535 |
2,108,669 |
1.4% |
||||||||||
|
General Service |
347,329 |
343,194 |
1.2% |
||||||||||
|
Industrial |
6,333 |
6,471 |
(2.1%) |
||||||||||
|
Other Energy Sales |
15,133 |
14,954 |
1.2% |
||||||||||
|
Total Regular Sales |
2,507,330 |
2,473,288 |
1.4% |
||||||||||
|
Special Sales |
24 |
26 |
(7.7%) |
||||||||||
|
Total Average Number of Customers - Duke Energy Carolinas |
2,507,354 |
2,473,314 |
1.4% |
||||||||||
|
Sources of Electric Energy (GWh) |
|||||||||||||
|
Generated - Net Output (3) |
|||||||||||||
|
Coal |
5,579 |
7,835 |
(28.8%) |
||||||||||
|
Nuclear |
10,993 |
11,316 |
(2.9%) |
||||||||||
|
Hydro |
725 |
257 |
182.1% |
||||||||||
|
Oil and Natural Gas |
2,986 |
2,233 |
33.7% |
||||||||||
|
Renewable Energy |
3 |
3 |
—% |
||||||||||
|
Total Generation (4) |
20,286 |
21,644 |
(6.3%) |
||||||||||
|
Purchased Power and Net Interchange (5) |
2,619 |
2,122 |
23.4% |
||||||||||
|
Total Sources of Energy |
22,905 |
23,766 |
(3.6%) |
||||||||||
|
Less: Line Loss and Company Usage |
1,280 |
1,298 |
(1.4%) |
||||||||||
|
Total GWh Sources |
21,625 |
22,468 |
(3.8%) |
||||||||||
|
Owned MW Capacity (3) |
|||||||||||||
|
Summer |
19,678 |
19,645 |
|||||||||||
|
Winter |
20,383 |
20,357 |
|||||||||||
|
Nuclear Capacity Factor (%) (6) |
97 |
95 |
|||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||
|
Actual |
|||||||||||||
|
Heating Degree Days |
1,661 |
1,941 |
(14.4%) |
||||||||||
|
Cooling Degree Days |
19 |
1 |
1,800.0% |
||||||||||
|
Variance from Normal |
|||||||||||||
|
Heating Degree Days |
(5.9%) |
13.1% |
n/a |
||||||||||
|
Cooling Degree Days |
171.4% |
(90.0%) |
n/a |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | |||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | |||||||||||||
|
(5) Purchased power includes renewable energy purchases. | |||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | |||||||||||||
|
Duke Energy Progress | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
GWH Sales (1) |
|||||||||||||
|
Residential |
5,000 |
5,767 |
(13.3%) |
||||||||||
|
General Service |
3,660 |
3,749 |
(2.4%) |
||||||||||
|
Industrial |
2,439 |
2,437 |
0.1% |
||||||||||
|
Other Energy Sales |
24 |
28 |
(14.3%) |
||||||||||
|
Unbilled Sales |
(135) |
(441) |
69.4% |
||||||||||
|
Total Regular Electric Sales |
10,988 |
11,540 |
(4.8%) |
0.8% |
|||||||||
|
Special Sales |
6,161 |
5,225 |
17.9% |
||||||||||
|
Total Consolidated Electric Sales - Duke Energy Progress |
17,149 |
16,765 |
2.3% |
||||||||||
|
Average Number of Customers |
|||||||||||||
|
Residential |
1,285,880 |
1,269,070 |
1.3% |
||||||||||
|
General Service |
227,523 |
224,411 |
1.4% |
||||||||||
|
Industrial |
4,159 |
4,230 |
(1.7%) |
||||||||||
|
Other Energy Sales |
1,601 |
1,688 |
(5.2%) |
||||||||||
|
Total Regular Sales |
1,519,163 |
1,499,399 |
1.3% |
||||||||||
|
Special Sales |
15 |
15 |
—% |
||||||||||
|
Total Average Number of Customers - Duke Energy Progress |
1,519,178 |
1,499,414 |
1.3% |
||||||||||
|
Sources of Electric Energy (GWh) |
|||||||||||||
|
Generated - Net Output (3) |
|||||||||||||
|
Coal |
2,107 |
4,004 |
(47.4%) |
||||||||||
|
Nuclear |
7,006 |
6,073 |
15.4% |
||||||||||
|
Hydro |
253 |
182 |
39.0% |
||||||||||
|
Oil and Natural Gas |
6,472 |
5,821 |
11.2% |
||||||||||
|
Total Generation (4) |
15,888 |
16,080 |
(1.2%) |
||||||||||
|
Purchased Power and Net Interchange (5) |
1,765 |
1,514 |
16.6% |
||||||||||
|
Total Sources of Energy |
17,653 |
17,594 |
0.3% |
||||||||||
|
Less: Line Loss and Company Usage |
504 |
829 |
(39.2%) |
||||||||||
|
Total GWh Sources |
17,149 |
16,765 |
2.3% |
||||||||||
|
Owned MW Capacity (3) |
|||||||||||||
|
Summer |
12,935 |
12,222 |
|||||||||||
|
Winter |
14,034 |
13,319 |
|||||||||||
|
Nuclear Capacity Factor (%) (6) |
91 |
92 |
|||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||
|
Actual |
|||||||||||||
|
Heating Degree Days |
1,514 |
1,867 |
(18.9%) |
||||||||||
|
Cooling Degree Days |
36 |
7 |
414.3% |
||||||||||
|
Variance from Normal |
|||||||||||||
|
Heating Degree Days |
(7.1%) |
17.1% |
n/a |
||||||||||
|
Cooling Degree Days |
260.0% |
(36.4%) |
n/a |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | |||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | |||||||||||||
|
(5) Purchased power includes renewable energy purchases. | |||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | |||||||||||||
|
Duke Energy Florida | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
GWH Sales (1) |
|||||||||||||
|
Residential |
4,173 |
4,104 |
1.7% |
||||||||||
|
General Service |
3,241 |
3,235 |
0.2% |
||||||||||
|
Industrial |
752 |
760 |
(1.1%) |
||||||||||
|
Other Energy Sales |
6 |
6 |
—% |
||||||||||
|
Unbilled Sales |
(11) |
114 |
(109.6%) |
||||||||||
|
Total Regular Electric Sales |
8,161 |
8,219 |
(0.7%) |
(1.0%) |
|||||||||
|
Special Sales |
295 |
254 |
16.1% |
||||||||||
|
Total Electric Sales - Duke Energy Florida |
8,456 |
8,473 |
(0.2%) |
||||||||||
|
Average Number of Customers |
|||||||||||||
|
Residential |
1,541,555 |
1,516,509 |
1.7% |
||||||||||
|
General Service |
194,707 |
192,560 |
1.1% |
||||||||||
|
Industrial |
2,202 |
2,256 |
(2.4%) |
||||||||||
|
Other Energy Sales |
1,536 |
1,542 |
(0.4%) |
||||||||||
|
Total Regular Sales |
1,740,000 |
1,712,867 |
1.6% |
||||||||||
|
Special Sales |
13 |
15 |
(13.3%) |
||||||||||
|
Total Average Number of Customers - Duke Energy Florida |
1,740,013 |
1,712,882 |
1.6% |
||||||||||
|
Sources of Electric Energy (GWh) |
|||||||||||||
|
Generated - Net Output (3) |
|||||||||||||
|
Coal |
1,451 |
2,153 |
(32.6%) |
||||||||||
|
Oil and Natural Gas |
6,123 |
5,483 |
11.7% |
||||||||||
|
Total Generation (4) |
7,574 |
7,636 |
(0.8%) |
||||||||||
|
Purchased Power and Net Interchange (5) |
1,509 |
1,384 |
9.0% |
||||||||||
|
Total Sources of Energy |
9,083 |
9,020 |
0.7% |
||||||||||
|
Less: Line Loss and Company Usage |
627 |
547 |
14.6% |
||||||||||
|
Total GWh Sources |
8,456 |
8,473 |
(0.2%) |
||||||||||
|
Owned MW Capacity (3) |
|||||||||||||
|
Summer |
8,989 |
9,154 |
|||||||||||
|
Winter |
9,894 |
10,120 |
|||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||
|
Actual |
|||||||||||||
|
Heating Degree Days |
401 |
373 |
7.5% |
||||||||||
|
Cooling Degree Days |
199 |
234 |
(15.0%) |
||||||||||
|
Variance from Normal |
|||||||||||||
|
Heating Degree Days |
4.2% |
(4.1%) |
n/a |
||||||||||
|
Cooling Degree Days |
7.6% |
36.05 |
n/a |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | |||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | |||||||||||||
|
(5) Purchased power includes renewable energy purchases. | |||||||||||||
|
Duke Energy Ohio | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
GWH Sales (1) |
|||||||||||||
|
Residential |
2,320 |
2,681 |
(13.5%) |
||||||||||
|
General Service |
2,297 |
2,363 |
(2.8%) |
||||||||||
|
Industrial |
1,444 |
1,448 |
(0.3%) |
||||||||||
|
Other Energy Sales |
27 |
28 |
(3.6%) |
||||||||||
|
Unbilled Sales |
(92) |
(133) |
30.8% |
||||||||||
|
Total Regular Electric Sales |
5,996 |
6,387 |
(6.1%) |
(2.1%) |
|||||||||
|
Special Sales |
111 |
380 |
(70.8%) |
||||||||||
|
Total Electric Sales - Duke Energy Ohio |
6,107 |
6,767 |
(9.8%) |
||||||||||
|
Average Number of Customers |
|||||||||||||
|
Residential |
753,189 |
747,619 |
0.7% |
||||||||||
|
General Service |
87,441 |
87,173 |
0.3% |
||||||||||
|
Industrial |
2,529 |
2,536 |
(0.3%) |
||||||||||
|
Other Energy Sales |
3,245 |
3,206 |
1.2% |
||||||||||
|
Total Regular Sales |
846,404 |
840,534 |
0.7% |
||||||||||
|
Special Sales |
1 |
1 |
—% |
||||||||||
|
Total Average Number of Customers - Duke Energy Ohio |
846,405 |
840,535 |
0.7% |
||||||||||
|
Sources of Electric Energy (GWh) |
|||||||||||||
|
Generated - Net Output (3) |
|||||||||||||
|
Coal |
928 |
1,220 |
(23.9%) |
||||||||||
|
Oil and Natural Gas |
1 |
20 |
(95.0%) |
||||||||||
|
Total Generation (4) |
929 |
1,240 |
(25.1%) |
||||||||||
|
Purchased Power and Net Interchange (5) |
5,555 |
5,950 |
(6.6%) |
||||||||||
|
Total Sources of Energy |
6,484 |
7,190 |
(9.8%) |
||||||||||
|
Less: Line Loss and Company Usage |
377 |
423 |
(10.9%) |
||||||||||
|
Total GWh Sources |
6,107 |
6,767 |
(9.8%) |
||||||||||
|
Owned MW Capacity (3) |
|||||||||||||
|
Summer |
1,062 |
1,225 |
|||||||||||
|
Winter |
1,164 |
1,327 |
|||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||
|
Actual |
|||||||||||||
|
Heating Degree Days |
2,349 |
2,962 |
(20.7%) |
||||||||||
|
Cooling Degree Days |
— |
— |
—% |
||||||||||
|
Variance from Normal |
|||||||||||||
|
Heating Degree Days |
(9.5%) |
16.4% |
n/a |
||||||||||
|
Cooling Degree Days |
(100.0%) |
(100.0%) |
n/a |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | |||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | |||||||||||||
|
(5) Purchased power includes renewable energy purchases. | |||||||||||||
|
Duke Energy Ohio | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Gas Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
MCF Sales (1) |
|||||||||||||
|
Residential |
16,697,555 |
22,178,905 |
(24.7%) |
||||||||||
|
General Service |
10,079,678 |
13,071,081 |
(22.9%) |
||||||||||
|
Industrial |
2,478,003 |
3,075,861 |
(19.4%) |
||||||||||
|
Other Energy Sales |
5,825,284 |
6,216,151 |
(6.3%) |
||||||||||
|
Unbilled Sales |
(339,000) |
(353,000) |
4.0% |
||||||||||
|
Total Gas Sales - Duke Energy Ohio |
34,741,520 |
44,188,998 |
(21.4%) |
(9.8%) |
|||||||||
|
Average Number of Customers |
|||||||||||||
|
Residential |
480,519 |
478,136 |
0.5% |
||||||||||
|
General Service |
45,224 |
45,340 |
(0.3%) |
||||||||||
|
Industrial |
1,699 |
1,706 |
(0.4%) |
||||||||||
|
Other Energy Sales |
143 |
144 |
(0.7%) |
||||||||||
|
Total Average Number of Gas Customers - Duke Energy Ohio |
527,585 |
525,326 |
0.4% |
||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||
|
Actual |
|||||||||||||
|
Heating Degree Days |
2,349 |
2,962 |
(20.7%) |
||||||||||
|
Cooling Degree Days |
— |
— |
—% |
||||||||||
|
Variance from Normal |
|||||||||||||
|
Heating Degree Days |
(9.5%) |
16.4% |
n/a |
||||||||||
|
Cooling Degree Days |
(100.0%) |
(100.0%) |
n/a |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
Duke Energy Indiana | |||||||||||||
|
Quarterly Highlights | |||||||||||||
|
Supplemental Regulated Utilities Electric Information | |||||||||||||
|
March 2016 | |||||||||||||
|
Three Months Ended March 31 | |||||||||||||
|
2016 |
2015 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | ||||||||||
|
GWH Sales (1) |
|||||||||||||
|
Residential |
2,589 |
3,000 |
(13.7%) |
||||||||||
|
General Service |
1,988 |
2,076 |
(4.2%) |
||||||||||
|
Industrial |
2,559 |
2,544 |
0.6% |
||||||||||
|
Other Energy Sales |
13 |
13 |
—% |
||||||||||
|
Unbilled Sales |
(111) |
(97) |
(14.4%) |
||||||||||
|
Total Regular Electric Sales |
7,038 |
7,536 |
(6.6%) |
(2.2%) |
|||||||||
|
Special Sales |
2,356 |
1,192 |
97.7% |
||||||||||
|
Total Electric Sales - Duke Energy Indiana |
9,394 |
8,728 |
7.6% |
||||||||||
|
Average Number of Customers |
|||||||||||||
|
Residential |
706,268 |
700,681 |
0.8% |
||||||||||
|
General Service |
100,484 |
100,407 |
0.1% |
||||||||||
|
Industrial |
2,713 |
2,690 |
0.9% |
||||||||||
|
Other Energy Sales |
1,597 |
1,562 |
2.2% |
||||||||||
|
Total Regular Sales |
811,062 |
805,340 |
0.7% |
||||||||||
|
Special Sales |
9 |
8 |
12.5% |
||||||||||
|
Total Average Number of Customers - Duke Energy Indiana |
811,071 |
805,348 |
0.7% |
||||||||||
|
Sources of Electric Energy (GWh) |
|||||||||||||
|
Generated - Net Output (3) |
|||||||||||||
|
Coal |
7,869 |
5,749 |
36.9% |
||||||||||
|
Hydro |
69 |
56 |
23.2% |
||||||||||
|
Oil and Natural Gas |
501 |
714 |
(29.8%) |
||||||||||
|
Total Generation (4) |
8,439 |
6,519 |
29.5% |
||||||||||
|
Purchased Power and Net Interchange (5) |
1,065 |
2,414 |
(55.9%) |
||||||||||
|
Total Sources of Energy |
9,504 |
8,933 |
6.4% |
||||||||||
|
Less: Line Loss and Company Usage |
110 |
205 |
(46.3%) |
||||||||||
|
Total GWh Sources |
9,394 |
8,728 |
7.6% |
||||||||||
|
Owned MW Capacity (3) |
|||||||||||||
|
Summer |
7,493 |
7,493 |
|||||||||||
|
Winter |
7,871 |
7,871 |
|||||||||||
|
Heating and Cooling Degree Days |
|||||||||||||
|
Actual |
|||||||||||||
|
Heating Degree Days |
2,521 |
3,278 |
(23.1%) |
||||||||||
|
Cooling Degree Days |
— |
— |
—% |
||||||||||
|
Variance from Normal |
|||||||||||||
|
Heating Degree Days |
(9.3%) |
20.7% |
n/a |
||||||||||
|
Cooling Degree Days |
(100.0%) |
(100.0%) |
n/a |
||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | |||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | |||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | |||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | |||||||||||||
|
(5) Purchased power includes renewable energy purchases. | |||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||
|
ADJUSTED TO REPORTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||
|
Three Months Ended March 31, 2016 | ||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||
|
Adjusted Earnings |
Costs to Achieve, Mergers |
Cost Savings Initiatives |
Discontinued Operations |
Total Adjustments |
Reported Earnings | |||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||
|
Regulated Utilities |
$ |
695 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
695 |
||||||||||||
|
International Energy |
123 |
— |
— |
— |
— |
123 |
||||||||||||||||||
|
Commercial Portfolio |
27 |
— |
— |
— |
— |
27 |
||||||||||||||||||
|
Total Reportable Segment Income |
845 |
— |
— |
— |
— |
845 |
||||||||||||||||||
|
Other |
(68) |
(74) |
A |
(12) |
B |
— |
(86) |
(154) |
||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
777 |
(74) |
(12) |
— |
(86) |
691 |
||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
3 |
C |
3 |
3 |
|||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
777 |
$ |
(74) |
$ |
(12) |
$ |
3 |
$ |
(83) |
$ |
694 |
||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
1.13 |
$ |
(0.11) |
$ |
(0.02) |
$ |
0.01 |
$ |
(0.12) |
$ |
1.01 |
||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.13 |
$ |
(0.11) |
$ |
(0.02) |
$ |
0.01 |
$ |
(0.12) |
$ |
1.01 |
||||||||||||
|
A - Net of $46 million tax benefit. Includes $1 million recorded within Operating Revenues, $19 million recorded within Operating Expenses and $100 million recorded within Interest Expense on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||
|
B - Net of $8 million tax benefit. Consists of severance costs recorded within Operation, maintenance and other on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||
|
C - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||||||||||||||
|
Basic 689 | ||||||||||||||||||||||||
|
Diluted 689 | ||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||
|
ADJUSTED TO REPORTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||
|
Three Months Ended March 31, 2015 | ||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||
|
Adjusted Earnings |
Costs to Achieve, Progress Merger |
Midwest Generation Operations |
Discontinued Operations |
Total Adjustments |
Reported Earnings | |||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||
|
Regulated Utilities |
$ |
774 |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
774 |
||||||||||||
|
International Energy |
36 |
— |
— |
— |
— |
36 |
||||||||||||||||||
|
Commercial Portfolio |
101 |
— |
(94) |
B |
— |
(94) |
7 |
|||||||||||||||||
|
Total Reportable Segment Income |
911 |
— |
(94) |
— |
(94) |
817 |
||||||||||||||||||
|
Other |
(30) |
(13) |
A |
— |
— |
(13) |
(43) |
|||||||||||||||||
|
Intercompany Eliminations |
— |
— |
— |
(1) |
D |
(1) |
(1) |
|||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
881 |
(13) |
(94) |
(1) |
(108) |
773 |
||||||||||||||||||
|
Discontinued Operations |
— |
— |
94 |
B |
(3) |
C |
91 |
91 |
||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
881 |
$ |
(13) |
$ |
— |
$ |
(4) |
$ |
(17) |
$ |
864 |
||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
1.24 |
$ |
(0.02) |
$ |
— |
$ |
— |
$ |
(0.02) |
$ |
1.22 |
||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
1.24 |
$ |
(0.02) |
$ |
— |
$ |
— |
$ |
(0.02) |
$ |
1.22 |
||||||||||||
|
A - Net of $8 million tax benefit. Recorded within Operating Expenses on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||
|
B - Operating results of the nonregulated Midwest generation business that had been classified from discontinued operations after adjustment for special items and economic hedges (net of $53 million tax benefit). | ||||||||||||||||||||||||
|
C - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Condensed Consolidated Statements of Operations. | ||||||||||||||||||||||||
|
D - Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | ||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||||||||||||||
|
Basic 708 | ||||||||||||||||||||||||
|
Diluted 708 | ||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION |
||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION |
||||||||
|
Three Months Ended March 31, 2016 |
||||||||
|
(Dollars in Millions) |
||||||||
|
Three Months Ended March 31, 2016 |
||||||||
|
Balance |
Effective Tax Rate |
|||||||
|
Adjusted Earnings, Pretax Income |
$ |
1,044 |
||||||
|
Costs to Achieve, Mergers |
(120) |
|||||||
|
Cost Savings Initiatives |
(20) |
|||||||
|
Noncontrolling interests |
5 |
|||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
909 |
||||||
|
Adjusted Tax Expense |
$ |
267 |
26% |
* |
||||
|
Costs to Achieve, Mergers |
(46) |
|||||||
|
Cost Savings Initiatives |
(8) |
|||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
213 |
23% |
|||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
||||||||
|
DUKE ENERGY CORPORATION |
||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION |
||||||||
|
Three Months Ended March 31, 2015 |
||||||||
|
(Dollars in Millions) |
||||||||
|
Three Months Ended |
||||||||
|
Balance |
Effective Tax Rate |
|||||||
|
Adjusted Earnings, Pretax Income |
$ |
1,305 |
||||||
|
Costs to Achieve, Mergers |
(21) |
|||||||
|
Midwest Generation Operations |
(147) |
|||||||
|
Noncontrolling interests |
3 |
|||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
1,140 |
||||||
|
Adjusted Tax Expense |
$ |
425 |
32% |
* |
||||
|
Costs to Achieve, Mergers |
(8) |
|||||||
|
Midwest Generation Operations |
(53) |
|||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
364 |
32% |
|||||
|
*Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
||||||||
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SOURCE Duke Energy
Article Date
5/3/2016Duke Energy Renewables acquires six North Carolina solar projects from Community Energy
Source: PR Newswire
CHARLOTTE, May 2, 2016 /PRNewswire/ -- Duke Energy Renewables today announced it has acquired six 5-megawatt (MW) solar projects in Eastern North Carolina from Community Energy.
Five of the six sites are in service, with the final project, Seaboard, coming on line in May. Collectively, these facilities will generate enough solar energy to power about 6,000 homes.
"Last year, our commercial and regulated businesses added 300 MW of solar power in North Carolina, and these projects continue the momentum of renewable energy growth in the state," said Greg Wolf, president, Duke Energy Commercial Portfolio. "We're pleased to work with Community Energy and proud to be a part of the economic development and jobs the solar industry has brought to North Carolina."
The solar sites are named for the town in which they are located:
|
Name of solar project |
NC County |
|
*Tarboro Solar |
Edgecombe |
|
Winton Solar |
Hertford |
|
Seaboard Solar |
Northampton |
|
Woodland Solar |
Northampton |
|
Gaston Solar |
Northampton |
|
Garysburg Solar |
Northampton |
|
*Tarboro was completed in late 2015 and first announced 1-20-16 | |
"Community Energy was one of the early entrants into both North Carolina and eastern solar markets and greatly appreciates the opportunity to now be working with an industry leader like Duke Energy Renewables on these projects", said Eric Blank, president, Community Energy Solar.
Output from the solar projects is being sold to Dominion NC Power under 15-year agreements.
Gehrlicher Solar America Corp., a division of M&W Americas Inc., constructed the projects. About 135,000 solar modules were installed on the six sites.
Last year alone, Duke Energy added 300 MW of solar energy in North Carolina. In total, Duke Energy companies, both regulated and commercial, have installed about 450 MW of solar energy in the state, enough to power 85,000 average homes at peak production.
Duke Energy has invested more than $4 billion in renewable energy and plans to invest about $3 billion over the next five years.
Images can be found on Duke Energy's News Center: http://news.duke-energy.com/
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 42 solar farms in operation in 12 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Community Energy
Since its inception in 1999, Community Energy has led the development and construction of more than 1,200 MW of wind and solar generating facilities. Community Energy has used a pioneering mix of utility off-take approaches, renewable energy marketing, and development expertise to accelerate the deployment of renewable energy technologies at scale. With offices in Chapel Hill, NC, and headquarters in Radnor, PA, Community Energy has a strong presence in multiple renewable energy markets. For more information about Community Energy, please visit www.communityenergysolar.com.
Contact: Tammie McGee
800.559.3853
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SOURCE Duke Energy
Article Date
5/2/20164/29/2016 - Duke Energy Progress proposes nearly $3 in monthly fuel savings for residential customers in South Carolina
Duke Energy Progress proposes nearly $3 in monthly fuel savings for residential customers in South Carolina
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
GREENVILLE, S.C., April 29, 2016 /PRNewswire/ -- Duke Energy Progress is proposing close to $3 in monthly fuel savings for its customers beginning this summer.
If approved by the Public Service Commission of South Carolina (PSCSC), the new fuel rates, which would go into effect July 1, would be the lowest since 2006.
What's driving customer savings
On April 28, 2016, Duke Energy Progress made its annual fuel filing with the PSCSC for costs associated with the purchase of fuel.
Under the proposal, typical residential customers using 1,000 kilowatt-hours (kWh) per month would see their bills decline from the current $104.77 to $102.00, a savings of $2.77.
Commercial customers would see an average decrease in the fuel charge of about 2.9 percent, and industrial customers would receive an average decrease of about 4.5 percent.
The main reasons for the proposed overall decrease in rates include:
Duke Energy Progress makes a fuel cost recovery filing annually in South Carolina. The fuel rate is based on the projected cost of fuel used to provide electric service to the company's customers, plus a true-up of the prior year's projection.
The PSCSC reviews fuel costs and adjusts the fuel component of customer rates accordingly. By law, the company makes no profit from the fuel component of rates.
Duke Energy Progress works daily to offer its customers electric rates in South Carolina that are consistently below the national average.
The company also offers energy-saving tips and innovative efficiency programs to help customers realize additional savings.
One such program is the Home Energy House Call – a free in-home energy assessment, valued at $180, designed to help Duke Energy customers learn how they can use electricity more efficiently to reduce their monthly bill.
To learn more about these programs, visit www.duke-energy.com/savings.
About Duke Energy
Duke Energy Progress owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides about 12,900 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
4/29/2016Duke Energy accelerates renewable energy growth goal by 33%
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 28, 2016 /PRNewswire/ -- Continuing its dramatic growth in renewable energy, Duke Energy has raised its 2020 renewable energy goal by 33 percent.
The company expects to own or purchase 8,000 megawatts of wind, solar and biomass capacity by 2020 – a 33 percent jump from the old goal of 6,000 megawatts established in 2013.
"Duke Energy is accelerating the pace of our renewable energy program allowing us to increase our goal for wind, solar and biomass on our system," said Cari Boyce, vice president, Policy, Sustainability and Stakeholder Strategy. "Renewable energy will continue to be a growing part of our generation mix in the future."
The goal is spelled out in the company's 10th edition of its Sustainability Report issued today. View it online.
As of the end of 2015, the company owned or purchased nearly 4,400 megawatts of wind, solar and biomass: 49 percent wind, 39 percent solar and 12 percent biomass.
Overall, Duke Energy operates more than 52,000 megawatts of generating capacity in the United States.
The report also tracks the company's progress on other sustainability goals and programs. Highlights:
For 10 straight years, Duke Energy has been a part of the Dow Jones Sustainability Index for North America.
The Sustainability Report provides an overview and data on how Duke Energy creates value. It details the company's performance in its four key focus areas – customers, growth, operations and employees. A number of employees are highlighted for their contributions to Duke Energy's sustainability efforts.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
4/28/2016Duke Energy recognized for mobile app that shares power outage information
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 27, 2016 /PRNewswire/ -- CS Week today presented Duke Energy with its Best Mobility Implementation Award for the company's proactive customer outage notification program, which automatically provides registered customers with information about their power outage.
More than 1 million customers have signed up for the service so far and receive key information, such as the outage cause, estimated time of restoration and number of customers affected. Based on this real-time data, customers can better adjust their plans.
Duke Energy won the award for utilities with more than $500 million in gross revenue. The announcement was made during the organization's 2016 Expanding Excellence Awards presentation in Phoenix.
The nominations were evaluated based on innovation, complexity, improved service levels, customer service improvement and a cost-benefit analysis.
Gayle Lanier, senior vice president of customer services, accepted the company's award.
"We're working hard to provide customers with real-time information so they can make decisions," said Lanier. "While no one ever wants to experience an outage, our customers value the proactive outage notification program that provides real-time information so they can plan accordingly. The success of this service is an indication we're on the right track in meeting our customers' needs."
The program recently exceeded 1 million subscribers since it launched companywide in Duke Energy Progress and Duke Energy Florida in August 2014, and in Duke Energy Carolinas, Duke Energy Indiana, Duke Energy Ohio and Duke Energy Kentucky in November 2015.
To register for this service, Duke Energy customers simply need to text REG to 57801 (standard text and data charges may apply).
The CS Week 2016 Expanding Excellence Awards program honors outstanding contributions and innovations in utility customer service in four award categories: Best Mobility Implementation; Best CIS Implementation; Best Devices, Data and Analytics Project; and Innovation in Customer Service.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Meghan Miles
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/27/2016Duke Energy funds available for fish and wildlife habitat enhancement projects along waterways in N.C. and S.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 27, 2016 /PRNewswire/ -- Beginning May 1, 2016, qualifying government agencies and nonprofit organizations are encouraged to submit applications for Duke Energy habitat enhancement programs in North Carolina and South Carolina.
Approximately $1.46 million in funding is available for projects in 2016.
Projects eligible for funding include a wide range of categories − from planting native shoreline vegetation, constructing osprey platforms and wood duck boxes, and installing fish attractors to purchasing property and conservation easements that permanently preserve rare and unique habitats.
Over the past several years, approximately $1.9 million in funding has been awarded for enhancement projects for the Catawba-Wateree and Keowee-Toxaway habitat enhancement programs. Individual project awards typically range from $10,000 to $50,000.
Those interested in seeking funds are encouraged to complete applications online by the July 31, 2016, deadline. Approved projects will receive funds beginning in the fall of 2016.
Catawba-Wateree Habitat Enhancement Program
Qualifying government agencies and nonprofit organizations wanting to enhance, create and protect fish and wildlife habitats along the Catawba-Wateree River are encouraged to submit applications for grants provided by Duke Energy's Catawba-Wateree Habitat Enhancement Program (CWHEP).
For 2016, a total of $725,000 is available for Catawba-Wateree enhancement projects located in North Carolina. Funds totaling $340,000 are available for projects located in South Carolina.
Since 2007, nearly $1.75 million has been awarded to fund Catawba-Wateree projects ranging from construction of waterfowl nesting platforms and boxes to the creation of large underwater reefs for fish habitat.
CWHEP is a cooperative effort by Duke Energy, the North Carolina Wildlife Resources Commission (NCWRC) and the South Carolina Department of Natural Resources (SCDNR).
The program is funded annually from a fee charged to individuals and residential marina developers seeking permits to build piers on the Catawba-Wateree lakes. The Foundation For The Carolinas administers the funds.
Those interested in seeking funds from CWHEP this year are encouraged to complete an application online at duke-energy.com/lakes/hep-how-to-apply.asp.
Keowee-Toxaway Habitat Enhancement Program
The Keowee-Toxaway Habitat Enhancement Program (KTHEP) funds projects that create, enhance and protect fish and wildlife habitats along the shores of Lake Keowee and Lake Jocassee, as well as in their watersheds.
For 2016, available funds total $400,000. In 2015, the first year of implementation, the KTHEP funded projects totaling approximately $15,000 to support fish and avian habitat improvements.
The KTHEP was formed as a result of the Keowee-Toxaway Relicensing Agreement Duke Energy entered into with 16 other stakeholder organizations during the Keowee-Toxaway Hydroelectric Project Federal Energy Regulatory Commission relicensing process.
The program is funded annually from a fee charged to individuals and developers seeking lake use permits for projects on the Keowee-Toxaway lakes, as well as by contributions from Duke Energy. The Foothills Community Foundation administers the funds.
Those interested in seeking funds this year are encouraged to complete an application online at duke-energy.com/lakes/kt-how-to-apply.asp .
Duke Energy Carolinas
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 19,600 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Kim Crawford
24-Hour media line: 800.559.3853
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SOURCE Duke Energy
Article Date
4/27/2016Education initiatives in the Palmetto State boosted by $500,000 in Duke Energy grants
Source: PR Newswire
GREENVILLE, S.C., April 26, 2016 /PRNewswire/ -- Duke Energy has been powering South Carolina for more than a century, and continues to power the minds of its students by investing in innovative education programs and initiatives across the state.
Through the Duke Energy Foundation, $500,000 in grants will go to initiatives across the state that emphasize science, technology, engineering and math (STEM), as well as programs that increase childhood reading proficiency.
"Supporting effective education programs that focus on fields related to science and technology are a critical focus for our company," said Clark Gillespy, Duke Energy's South Carolina president. "These initiatives will help strengthen the pipeline of highly skilled workers that fuel the economic engines that drive South Carolina."
Duke Energy's education grants this year include:
"Camp iRock is an innovative educational program in Pickens County that addresses summer literacy loss in students advancing to second, third and fourth grades," said Julie Capaldi, president of the United Way of Pickens County. "More than 200 struggling readers will experience intensive literacy instruction from highly qualified teachers in a fun camp atmosphere this summer thanks to Duke Energy."
"Our portable training program is designed to improve student outcomes by empowering middle-school math and science teachers with quality, hands-on lab experiences that integrate useful technologies into standards-based curriculum," said Kim Bowman, CEO of the Governor's School for Math and Science Foundation. "Duke Energy's investment in our statewide outreach programs will have a tremendous impact this summer on teachers and students in Florence, Kershaw and Pickens counties."
In addition to these grants, Duke Energy and Reading Is Fundamental (RIF), the nation's largest children's literacy organization, recently announced a partnership to minimize the summer slide and improve the reading proficiency of more than 3,000 current second graders in South Carolina. The $400,000 program will be available in 36 Title I elementary schools in the Pee Dee region in northeast South Carolina.
The grants are administered through the Duke Energy Foundation, which provides philanthropic support to address the needs vital to the health of its communities, with a focus on education, environment, economic and workforce development and community impact.
The Foundation annually funds more than $25 million to communities throughout Duke Energy's six-state service area. Last year, the Foundation donated more than $1.7 million to nonprofit organizations throughout South Carolina.
About The Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of its communities. Annually, the Foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/26/2016Duke Energy and Reading Is Fundamental partner to boost childhood reading skills
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 19, 2016 /PRNewswire/ -- Duke Energy and Reading Is Fundamental (RIF), the nation's largest children's literacy organization, are partnering to minimize the summer slide and improve the reading proficiency of more than 3,000 current second graders in South Carolina.
The program will be available in 36 Title I elementary schools in the Pee Dee region in northeast South Carolina.
"Our philanthropic investments in childhood literary proficiency are aimed at giving children a chance to succeed throughout school and into adulthood," said Shawn Heath, president of the Duke Energy Foundation. "Reading proficiency is the foundation to help children succeed and get excited about science, technology, engineering and math."
As part of RIF's Read for Success program, the students will receive eight summer books of their choosing and a book bag of items to take home.
In addition, teachers will receive a collection of 35 fiction and nonfiction books for the classroom and school library; printed and online access to enrichment and instructional activities; and in-person and online professional development to effectively implement the program model.
Families in participating South Carolina schools will be encouraged to take part in the summer book distributions and share stories together to help students develop a love of reading and experience the magic of books.
RIF will also have available supplemental booklists and fun activities for families to experience reading throughout the summer.
"The unfortunate reality is that many children do not have access to books, especially at home; this is something most of us take for granted," said Carol Rasco, president and CEO, Reading Is Fundamental. "The eight books students receive at the end of the school year to own and take home really motivate them to read over the summer."
During the summer months, all children are at risk of losing some of the learning and skills they've acquired over the school year. If the summer learning slide is not addressed at an early age, some children may fall behind as much as three years in reading comprehension by the end of fifth grade. In addition, existing research shows that 75 percent of students who read poorly in third grade, a benchmark for literacy skill building, remain poor readers in high school.
"The Read for Success program has been tested over two years among 33,000 students," Rasco said. "Results show it can reverse the trend of summer reading loss for more than half the participating students."
School districts in the South Carolina program include: Chesterfield, Clarendon, Darlington, Dillon, Lee, Marion, Marlboro, and Williamsburg.
"Once again, Duke Energy has stepped up its level of commitment to public education," said Dr. Eddie Ingram, superintendent of Darlington County School District. "We deeply appreciate the partnership between Duke Energy and Reading Is Fundamental, and the resources they are so unselfishly providing. Fostering a lifelong love of reading is paramount to develop a child's ability to create, communicate, collaborate and problem solve. Our teachers and students are very excited about the new books."
The results of the program will be evaluated in the fall as part of Duke Energy's ongoing efforts to support childhood literacy in the states it serves.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Reading Is Fundamental
Reading Is Fundamental (RIF) transforms lives through the power of books. By providing children in need with access to books of their choosing, RIF empowers young minds to embrace the world of reading and develop a love of learning. As the nation's largest children's literacy organization, RIF has provided more than 412 million books to 40 million RIF kids over 50 years, inspiring generations to read, learn and grow. Visit us online to learn more at www.rif.org.
Anne Sheffield, Duke Energy
24-Hour: 800.559.3853
anne.sheffield@duke-energy.com
Tracey Beeker, Reading Is Fundamental
202.536.3458
tbeeker@rif.org
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SOURCE Duke Energy
Article Date
4/19/2016Duke Energy celebrates its heroes for National Lineman Appreciation Day
Source: PR Newswire
CHARLOTTE, N.C., April 15, 2016 /PRNewswire/ -- When the governor declares weather conditions are so horrific, everyone should stay home, the lineman gathers his gear and heads to his truck.
He kisses his family goodbye, knowing he may be away for days or even weeks, until everyone has their electricity restored.
Sixteen-hour days, biting cold, blinding snow, drenching rain, tropical-force winds, he surveys the damage nature has done and determines the course of action that will repair the damaged system and return people's lives to their normal routine.
He doesn't look for praise... he's just doing his job.
April 18 is nationally recognized as National Lineman Appreciation Day to honor line workers and their role in building, maintaining and restoring service that powers the lives of our customers.
U.S. Rep. Mick Mulvaney (R-S.C.), along with a number of bipartisan cosponsors, and U.S. Sen. Thom Tillis (R-N.C.) have made their support official. Mulvaney and the entire South Carolina House delegation have introduced a resolution, and Tillis plans to introduce a resolution designating April 18, 2016, as National Lineman Appreciation Day to recognize linemen, the profession of linemen, and the contributions these brave men and women make daily to protect public safety.
"I was proud to be involved in designating April 18 as National Lineman Appreciation Day," said Rep. Mulvaney. "These folks are on the frontlines working to keep our power on – often in difficult circumstances when the weather is at its worst – and they deserve to be honored for their efforts."
"With April 18, 2016 being designated as National Lineman Appreciation Day, we recognize the resolute men and women who labor for us every day," said Sen. Tillis. "Thank you to the unsung workers who work diligently to help ensure the safety, reliability, comfort and convenience of electricity that families and businesses throughout America rely on."
More than 5,000 line workers are part of the Duke Energy family. They, along with thousands of contract line workers, construct, operate and maintain equipment and more than 295,000 miles of power lines that deliver electricity to more than 7 million customers – representing a population of more than 24 million people – across its service territories.
"Our line workers are the heart and soul of Duke Energy," said Lloyd Yates, executive vice president of market solutions and president of Duke Energy's Carolinas Region. "They work in challenging conditions to power our customers and communities. We are proud to honor line workers who keep the lights on for millions of people throughout our six-state service area."
Those who wish to honor line workers and their families are encouraged to use the hashtag #ThankALineman in social media.
For more information about Duke Energy's line workers, follow @DukeEnergy and visit www.facebook.com/DukeEnergy.
Here is file footage of linemen performing storm preparation and restoration efforts: http://news.duke-energy.com/multimedia-gallery/b-roll#lg=g1&slide=5.
To view a letter from a lineman's wife expressing her appreciation for her husband's job serving the community, visit: http://illumination.duke-energy.com/articles/my-husband-the-lineman.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/15/2016Duke Energy grants for Dan River Basin region top $1.6 million
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 14, 2016 /PRNewswire/ -- Duke Energy today announced grants totaling $500,000 from the Water Resources Fund to be shared equally between the Community Foundation of the Dan River Region's RiverBank Fund and the Rockingham County (N.C.) Community Foundation to continue environmental enhancements and economic development along the river basin.
"The RiverBank Fund and Rockingham County Community Foundation have been good stewards of the initial grants from the Water Resources Fund," said David Fountain, Duke Energy president – North Carolina. "Projects have ranged from creating an environmental nature walk to starting a youth gardening program to launching an app providing information about trails, river access and local gardens. We're proud to support their efforts to enrich the community."
In September 2014, when the Water Resources Fund was first launched, the RiverBank Fund and Rockingham County Community Foundation equally shared a $500,000 Water Resources Fund grant. More than 20 nonprofit organizations are being helped by the grant, among them:
Madison-Mayodan Recreation Commission received $25,000 through the Rockingham County Community Foundation to enhance facilities at the existing Dan River boat access site on Route 704.
"New steel steps at the Dan River boat access on Route 704 ensure a safe area for residents and visitors; otherwise we risked having to close the site," said Fred Thompson, executive director of the Madison-Mayodan Recreation Commission. "This is about economic development and making the region attractive for visitors. Grants like this are a blessing for us."
Since 2014, Duke Energy grants to the Dan River Basin have totaled over $1.6 million to help improve water quality, increase access to waterways and expand the economic and community vitality of the Dan River Basin region.
Other grants awarded through the Water Resources Fund to organizations in the river basin include:
In addition to grants through the Water Resources Fund, Duke Energy has invested more than $500,000 in enhancements to the Abreu-Grogan Park in Danville, Va.
About the Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of communities it serves. Annually, the foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit duke-energy.com/foundation.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/14/2016Solar rankings: Duke Energy among Top 3 in the nation
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 13, 2016 /PRNewswire/ -- Duke Energy continues to be a national leader for the amount of solar energy connected to the grid for its retail customers.
In the Top 10 utility solar lists compiled by the Smart Electric Power Alliance (SEPA), Duke Energy Progress (DEP) was ranked third among all utility companies for bringing on new solar capacity during 2015.
"Our customers are experiencing the benefits of Duke Energy's work to support the growth and expansion of solar generation in this region," said David Fountain, Duke Energy's North Carolina president. "We are proud to put more and more solar energy to work for our customers in a way that works for everyone."
DEP's 461 megawatts of owned and purchased capacity for customers in 2015 helped it climb to third in the nation after being fourth the previous year. Overall, North Carolina is fourth in the nation for installed solar capacity. You can view the rankings here.
"We saw record installations of solar in 2015 across the United States. Our Top 10 survey results detail the scale of this growth, and the active role an increasing number of utilities are playing in it," said Julia Hamm, SEPA's President and CEO. "Consumers want solar, and their interest is driving change and innovation at utilities nationwide."
The rankings were announced Tuesday at the organization's Utility Solar Conference in Denver. The ninth annual survey includes figures from more than 300 utilities across the country.
Since 2007, more than 1,000 projects representing more than 5,000 megawatts of generation have sought interconnection in Duke Energy's North Carolina service territory. To support this growth, Duke Energy has added a Renewable Service Center, a customer call center designed to help with the high volume of residential solar-related interconnection requests. The company has also increased its engineering, support resources and construction crews for solar power.
During 2015, Duke Energy worked on a $500 million solar expansion in North Carolina, including sites in Bladen, Duplin, Onslow and Wilson counties.
Already in 2016, Duke Energy has announced new solar projects in Davie, Rowan and Union counties. Overall, Duke Energy utilities purchases solar energy from almost 800 facilities in North Carolina – in addition to 3,500 solar rooftop customers.
Nationwide, Duke Energy has invested more than $4 billion in solar and wind energy and plans to invest another $3 billion over the next five years. In addition to North Carolina, the company is currently looking to expand utility-owned projects in Florida, Indiana and South Carolina.
Overall, Duke Energy companies own or purchase more than 1,700 megawatts of solar capacity.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About SEPA
The Smart Electric Power Alliance (SEPA) is an educational nonprofit that facilitates the utility industry's smart transition to a clean energy future. Through education, research and collaboration SEPA enables the integration and deployment of solar, demand response, other distributed energy resources, and supporting technologies onto the grid.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
4/13/20164/12/2016 - Duke Energy announces leadership changes
Duke Energy announces leadership changes
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 12, 2016 /PRNewswire/ -- Duke Energy today announced leadership changes.
Dhiaa Jamil, 59, will become executive vice president and chief operating officer. Jamil currently oversees nuclear, fossil/hydro, fuels and systems optimization, coal combustion products and transmission operations, as well as construction, major projects and environmental health and safety. He will also assume responsibility for the supply chain organization.
Melissa Anderson, 51, has been named executive vice president, administration and chief human resources officer, assuming responsibility for the administrative services organization in addition to her current human resources accountability.
"These changes support execution of our strategic priorities and commitment to operational excellence, while streamlining reporting responsibilities and using the bench-strength of our leadership team," said Lynn Good, president and CEO.
In addition, a new group, Business Transformation and Technology, is being formed to support the company's strategy. This group will be comprised of the company's existing information, technology and security organizations as well as resources dedicated to business transformation.
Brian Savoy will lead the new organization as senior vice president. Savoy, 40, has served as senior vice president, chief accounting officer and controller, since 2013. He has led a number of key functions, including vice president and controller of the company's Commercial Power segment, since joining Duke Energy in 2001. Savoy has extensive experience with financial modeling and forecasting. Previously, he was a manager with Deloitte & Touche, where he oversaw audit engagements with large energy clients.
Savoy will report directly to Steve K. Young, executive vice president and chief financial officer.
"This new group reflects the importance of technology as a transformational tool to achieve our strategic objectives," said Young.
Succeeding Savoy as senior vice president, chief accounting officer and controller will be Bill Currens, 47, who currently serves as vice president, investor relations.
Currens joined Duke Energy in 2002 as a manager in the corporate controller's organization. Before joining Duke Energy, he spent more than nine years with the public accounting firm KPMG.
Michael Callahan will succeed Currens as vice president, investor relations. Callahan, 40, is currently director of regulated utilities forecasting. He joined Duke Energy from PricewaterhouseCoopers in 2002 and has held positions of increasing responsibility in treasury, investor relations and forecasting.
Savoy, Currens and Callahan will report to Young. The changes are effective May 16.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Jennifer Zajac
Office: 980.373.9242 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/12/2016With a single blast, Duke Energy transforms the energy landscape in Wilmington
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
WILMINGTON, N.C., April 11, 2016 /PRNewswire/ -- Duke Energy reached another important milestone Sunday after imploding one of three boiler units at the retired coal-fired L.V. Sutton Plant.
The company continues to remove older coal units as part of a plan to shift to cleaner, more efficient energy sources in North Carolina.
View a video of the implosion event here: https://youtu.be/6Ow3iO95mHw
The company retired the coal units in 2013 after a new natural gas-fired plant came into service at the site. The new natural gas units generate electricity more efficiently for customers and with lower emissions than the coal plant did during its operation.
Since 2013, the team has prepared the site for full demolition. Part of this work includes removing the two iconic red-and-white striped smokestacks. Using a ring-like structure attached to the smokestacks, crews have torn down the structures piece by piece. The company expects this phase to be completed in the coming weeks.
The April 10 implosion is the first of three similar events to take place at the Sutton Plant. The next is scheduled in May and the final demolition event will take place in the fall of 2016.
View a historical feature story about this plant here: illumination.duke-energy.com/articles/l-v-sutton-plant:-the-generation-has-changed-but-not-the-dedication.
To learn more about the company's coal plant decommissioning program, visit duke-energy.com/coal-decommissioning.
Ash basin closure work continues
Duke Energy continues to make headway moving ash from the Sutton Plant to a fully lined structural fill at the Brickhaven mine site in central North Carolina.
In January, after constructing a nearly two-mile long rail line into the mine site, the company shifted to moving the majority of ash from the plant by rail to expedite this process and minimize the impact to the local community. Crews have excavated around 200,000 tons of coal ash from the Sutton Plant site.
Permitting is also underway to constructing a fully lined landfill on Sutton plant property, which will store the majority of the ash from the basins.
Closing ash basins at the site is part of the overall effort to retire coal ash operations at the Sutton Plant.
For additional information about ash basin closure at the Sutton Plant, please visit duke-energy.com/sutton.
Duke Energy Progress
Duke Energy Progress owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides about 12,900 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
4/11/2016Duke Energy to announce first quarter 2016 earnings on May 3
Source: PR Newswire
CHARLOTTE, N.C., April 6, 2016 /PRNewswire/ -- Duke Energy will release its first quarter 2016 earnings results at 7 a.m. ET on Tuesday, May 3.
An earnings conference call for analysts is scheduled for 10 a.m. ET that day to discuss Duke Energy's financial performance for the quarter and provide other business and financial updates.
The conference call will be hosted by Lynn Good, chairman, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-856-1955 in the United States or 719-325-4765 outside the United States. The confirmation code is 7567946. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, May 13, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 7567946. A replay and transcript also will be available by accessing the investors' section of the company's website.
Headquartered in Charlotte, N.C., Duke Energy is a S&P 100 Stock Index company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analysts Contact: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy
Article Date
4/6/2016Duke Energy to host annual shareholders' meeting May 5
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., April 5, 2016 /PRNewswire/ -- Duke Energy will hold its annual shareholders' meeting Thursday, May 5, at 10 a.m. ET, in O.J. Miller Auditorium at 526 South Church St., Charlotte, N.C.
Shareholders unable to attend the meeting in person have two options:
Duke Energy CEO Lynn Good will provide shareholders with an overview of the company's 2015 performance and strategy for the future. The agenda also includes election of the board of directors and other business.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Jennifer Zajac
Office: 980.373.9242 | 24-Hour: 800.559.3853
Analysts: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy
Article Date
4/5/2016Duke Energy Renewables acquires two North Carolina solar projects from ET Capital
Source: PR Newswire
CHARLOTTE, N.C., April 5, 2016 /PRNewswire/ -- Duke Energy Renewables today announced it has acquired two 5-megawatt (MW) solar projects in Eastern North Carolina from ET Capital, a member of the ET Solar Group and lead developer of the projects.
The Hertford site, located in Hertford, Perquimans County, and the Long Farm project, in Garysburg, Northampton County, were completed in March and will collectively generate enough energy to power about 2,000 homes.
"Providing the benefits of renewable energy and opportunities for local economic development in the state are important to Duke Energy," said Greg Wolf, president, Duke Energy Commercial Portfolio. "We are pleased to add these projects from ET Capital to our growing solar portfolio in Eastern North Carolina."
Power from the projects is being sold to Dominion NC Power under 15-year agreements.
Boris Schubert, CEO of ET Capital adds, "We thank Duke for being a trusted partner as well as a champion for renewable energy. This project completion is another example of how our partners can rely on ET Capital's co-development platform to execute projects efficiently from inception to commercial operation."
The 44,631 305-W modules for the two sites were supplied by ET Solar Group.
To date, Duke Energy companies have installed more than 400 MW of solar energy in North Carolina, enough to power about 80,000 average homes.
Duke Energy has invested more than $4 billion in renewable energy and plans to invest another $3 billion over the next five years.
Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 37 solar farms in operation in 12 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About ET SolarCapital
ET SolarCapital is a global leading energy solutions provider. With access to innovative solar technologies and tailored financial solutions, ET SolarCapital provides professional one-stop solutions across the entire solar power plant lifecycle including development, financing, engineering, procurement, and construction, and operations & maintenance. To learn more about ET SolarCapital, please visit http://www.etsolar.com.
Contact: Tammie McGee
800.559.3853
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SOURCE Duke Energy
Article Date
4/5/2016Federal Energy Regulatory Commission Issues Positive Order on Grid Assurance(TM) Filing
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
COLUMBUS, Ohio, March 31, 2016 /PRNewswire/ -- The Federal Energy Regulatory Commission (FERC) issued a positive order March 25 to Grid Assurance™ that provides regulatory clarity supporting transmission-owning entities participating in and subscribing to Grid Assurance™ as a way to strengthen transmission grid resiliency. Grid Assurance™ had requested determinations on several issues from FERC in December 2015.
Eight electric utilities and energy companies announced Grid Assurance™ on June 10, 2015 as a limited liability company that expects to offer subscribers cost-effective solutions for enhancing transmission grid resiliency and protecting customers from prolonged transmission outages. FERC initially recognized the benefits of Grid Assurance™ in an Aug. 7, 2015 order. The Grid Assurance™ consortium subsequently developed a Subscription Agreement and has received clarity from FERC in a declaratory order that enables broader transmission owner participation.
In the March 25 order, the FERC confirmed:
Grid Assurance™ continues to evaluate the order and will seek additional clarification from FERC, if necessary. Grid Assurance™ expects to begin marketing this service to transmission owners in the second quarter with subscriber acceptance, warehouse specification and inventory identification occurring over the next 18 months. Grid Assurance™ plans to own and maintain critical, long lead-time equipment at secure, strategically located warehouses and offer logistics support to facilitate the expedited movement of equipment to the affected sites following qualifying events. Qualifying events can include physical attacks, cyberattacks, electromagnetic pulses, catastrophic events, solar storms, earthquakes and severe weather events. Grid Assurance™ services are intended to complement transmission owners' existing programs as well as established industry initiatives.
About Grid Assurance™:
Affiliates of American Electric Power (NYSE:AEP), Berkshire Hathaway Energy, Duke Energy (NYSE:DUK), Edison International (NYSE:EIX), Eversource Energy (NYSE:ES), Exelon (NYSE:EXC), Great Plains Energy (NYSE:GXP), and Southern Company (NYSE:SO) are pursuing development of Grid Assurance™, a limited liability company, to offer subscribers cost-effective solutions for enhancing transmission grid resiliency. Recovery of the transmission grid can be hampered by long lead times required to build and deliver critical replacement equipment including large transformers, circuit breakers and other specialized electrical equipment. Grid Assurance™ will give subscribers economical access to critical equipment faster than traditionally possible.
Additional information available at www.GridAssurance.com
SOURCE American Electric Power
Article Date
3/31/2016Duke Energy awards nearly $1.4 million to jumpstart job readiness in North Carolina
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 29, 2016 /PRNewswire/ -- Preparing tomorrow's workforce requires action today, particularly in North Carolina's rapidly evolving, global economy. Duke Energy is investing nearly $1.4 million to jumpstart job readiness through grants to 26 education and nonprofit organizations focused on developing a highly qualified workforce and connecting job seekers with North Carolina employers.
"Now more than ever before, employers are looking for workers with industry-specific training and real-world knowledge," said David Fountain, Duke Energy president - North Carolina. "We're proud to support programs across North Carolina that produce skilled workers who bring new ideas and innovations to our lives."
The grants, from the Duke Energy Foundation, will enhance programs and initiatives that address regional skills gaps, expand economic opportunities and improve workforce development.
Economic and workforce development is one of the Duke Energy Foundation's four investment priorities.
"Duke Energy Foundation's support of disabled veterans continues to make a positive difference in the lives of many," said Richard Salem, chairman of the board and CEO for Enable America. "We are grateful for Duke Energy's continued investments to improve employment opportunities for those we serve through the Enable America employment assistance programs."
Funding Duke Energy provides to Enable America in 2016 will continue the VETCONNECT Job Seeker Workshops at North Carolina military bases, which provides job search instruction and career coaching by leading employers in the state.
Surveys indicate that 70 percent of the job seekers who attended VETCONNECT workshops have attained employment.
This will be its fourth year serving hundreds of veterans and their families in North Carolina.
Economic and workforce development grant recipients
Duke Energy is partnering with the following organizations to strengthen workers' skills in existing industries and expand opportunities to promote economic development across the state:
Bull City Forward – $10,000 for the Accelerating Durham's Enterprising and Innovative Ideas program that provides workshops for entrepreneurs who lack resources and training (Durham)
Central Carolina Community College Foundation – $49,650 for Central Carolina Works, an effort to help more students to earn up to one year of college credit from tuition-free courses taken during high school (Sanford)
East Carolina University Foundation – $170,000 for Tools for Advanced Manufacturing for Veterans and Supporting STEM in Eastern North Carolina (Greenville)
Enable America – $65,000 for VETCONNECT Job Seekers Workshop for Transitioning Military, Veterans and Spouses (Raleigh)
Forsyth Technical Community College Foundation – $49,000 for Industrial Systems Technology Program to enhance training capacity in automation and robotics, key elements of a modern, computer-controlled production line (Winston-Salem)
Foundation of the University of North Carolina at Charlotte – $140,000 for the Duke Energy Distinguished Energy Production and Infrastructure Center (EPIC) Student Fellow Scholarship program for students focused on energy engineering and electrical and mechanical engineering (Charlotte)
Foundation for the University of North Carolina at Charlotte – $35,000 for the College of Computing and Informatics Business Partners Program and Scholarships to provide educational and career readiness programs, including in the areas of cyber security and computer visualization (Charlotte)
Habitat Charlotte – $32,000 for Renewable Energy Workforce Development Programs to engage and educate students who are preparing for careers in the regional green industry and energy workforce by involving them in the installation of solar panels on Habitat homes (Charlotte)
Institute for Emerging Issues at N.C. State University – $25,000 for Addressing the Future Workforce in NC, a collaborative process to better link students and retrained workers to the evolving needs of employers (Raleigh)
Livingstone College – $50,000 for STEM-focused Bridge Program giving high-school graduates with academic deficiencies an intensive, six-week program that teaches reading, writing, mathematics and other college skills (Salisbury)
Made in Durham – $30,000 to provide curriculum development, training and support services for students who have reengaged in school after dropping out (Durham)
MeckEd – $20,000 for its Career Pathways program to provide work-based learning experiences for high school students coupled with exposure to post-secondary opportunities (Charlotte)
Meredith College – $50,000 for Women in the Workforce: Stronger U, a new development series that helps participants learn how to enhance their productivity, job satisfaction, energy and resulting workplace value by learning their strengths and how to apply them at work (Raleigh)
Moore County Partners in Progress – $12,500 for Moore Alive, a talent recruitment initiative that promotes Moore County and its communities (Moore County)
Moore Forward – $50,000 to strengthen strategic partnerships with local schools, regional businesses and community organizations to facilitate entrepreneurship (Moore County)
N.C. A&T State University – $60,000 for Duke Energy 2016-17 Helping Orient Minority Engineers (HOME) Scholars and College of Engineering Outreach Programs (Greensboro)
North Carolina Central University – $135,000 to support a dual-degree Bachelor of Science program in physics and electrical engineering with N.C. State University to increase access, diversity and enrollment in science, technology, engineering and math (STEM) disciplines at both institutions (Durham/Raleigh)
North Carolina Society of Hispanic Professionals – $15,000 for the North Carolina Hispanic College Fund to provide academic scholarships for Hispanic students pursuing the fields of electrical, mechanical, nuclear, chemical and civil engineering (Cary)
North Carolina Independent Colleges and Universities – $80,500 for scholarships for students pursuing degrees in STEM-related fields (Raleigh)
North Carolina Institute of Minority Economic Development – $35,000 for the Historically Black Colleges and Universities (HBCU) Leadership Workforce Development Exchange program to strengthen relationships between higher education and corporate leaders (Durham)
Phoenix Hometown Hires – $25,000 for an incentive-driven, stepped process designed to move participants into employment and measured stability (Wilmington)
Richmond Community College Foundation – $50,000 for the Electric Utility Substation and Relay Technology program (Hamlet)
Rowan-Cabarrus Community College Foundation – $50,000 for equipment enhancements for Engineering Technologies programs (Salisbury)
Surry Community College Foundation – $50,000 for Industrial Training Center – Yadkin County Campus (Yadkinville)
Tri-County Community College Foundation – $40,000 for the Workforce Advancement and Training Initiative, which will boost local workforce skills, training 50 students in TCCC's machinist training program (Murphy)
Urban League of Central Carolinas – $45,000 for Continuum of Opportunity: CAST Preparation and Fiber Optic Training Program to train approximately 90 participants for construction and skilled trades (CAST) exam and two nationally recognized fiber optic certifications (Charlotte)
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of its communities. Annually, the Foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Meredith Archie
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/29/20163/24/2016 - Duke Energy Indiana renews commitment to clean energy with upgrades at Markland Hydro Station
Duke Energy Indiana renews commitment to clean energy with upgrades at Markland Hydro Station
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., March 24, 2016 /PRNewswire/ -- Duke Energy customers in Indiana will continue to reap the benefits of low-cost, carbon-free electric generation for many more years with the planned modernization and upgrade at the Markland Hydro Station near Florence, Ind., along the Ohio River.
The company has requested permission from the Indiana Utility Regulatory Commission to modernize, replace and upgrade the three hydroelectric turbines, generators and related equipment which have been in service for nearly 50 years.
"The generating units at Markland Hydro have served our customers well with clean, renewable energy since 1967," said Melody Birmingham-Byrd, president of Duke Energy Indiana. "As we move toward increasingly cleaner energy, these modernized generation units will harness more of the renewable resources of the Ohio River for many years to come."
Work on the project could begin around mid-2016 and conclude by mid-2020.
Duke Energy Indiana's operations provide about 7,500 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/24/20163/23/2016 - Duke Energy Renewables acquires 20-MW Longboat Solar Project in California from EDF Renewable Energy
Duke Energy Renewables acquires 20-MW Longboat Solar Project in California from EDF Renewable Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C. and SAN DIEGO, March 23, 2016 /PRNewswire/ -- Duke Energy Renewables has acquired the development assets associated with the proposed 20-megawatt (MW-AC) Longboat Solar Power Project in California from EDF Renewable Energy.
The project will be built in San Bernardino County near the city of Barstow. With this addition, Duke Energy Renewables has seven solar power projects in California totaling more than 130 megawatts, enough to power about 40,000 average homes.
"Longboat is a great addition to our growing California solar portfolio," said Greg Wolf, Commercial Portfolio president, Duke Energy. "In addition to utility-scale solar projects, we've also made investments in California distributed generation and energy management systems for commercial and industrial companies, which enables us to offer a full array of services in the state and across the U.S."
The energy generated from Longboat and associated renewable energy credits (RECs) will be sold to Southern California Edison through a 20-year agreement.
"We're proud to turn over the Longboat solar project to Duke Energy Renewables," said Raphael Declercq, vice president, Portfolio Strategy, EDF Renewable Energy. "We value the support of San Bernardino county and the local community for its first-ever unanimous approval of a solar project. We leveraged nearly 30 years of experience and managed the state's rigorous and thorough approval process to position this project ready for construction."
Gehrlicher Solar America Corp. will oversee the construction of the project, which is expected to be in service by year-end 2016. Jinko is providing 84,000 single-axis tracking and polycrystalline modules.
Duke Energy Renewables currently has seven solar power projects in California:
|
Project name |
Location |
Size (AC) |
Customer |
|
Sunset Reservoir |
San Francisco |
5 MW |
San Francisco Public Utilities Commission |
|
Highlander |
Twentynine Palms |
21 MW |
Southern California Edison |
|
Pumpjack |
Kern County |
20 MW |
Southern California Edison |
|
Wildwood |
Kern County |
20 MW |
Southern California Edison |
|
Seville I |
Imperial County |
20 MW |
San Diego Gas & Electric |
|
Seville II |
Imperial County |
30 MW |
Imperial Irrigation District |
|
Longboat |
San Bernardino County |
20 MW |
Southern California Edison, (under construction) |
In addition to these utility-scale projects, Duke Energy made majority investments in two California companies last year, REC Solar and Phoenix Energy Technologies. REC Solar, located in San Luis Obispo, Calif., is a provider of comprehensive commercial solar and energy solutions. Phoenix Energy Technologies, based in Irvine, Calif., is a provider of energy management systems and services for commercial and industrial customers.
Over the past eight years, Duke Energy, through its regulated and commercial businesses, has invested more than $4 billion in solar and wind across the country. The company plans to invest about $3 billion in renewable energy over the next five years.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Portfolio, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 36 solar farms in operation in 12 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com. Follow Duke Energy on Twitter, LinkedIn and Facebook.
About EDF Renewable Energy
EDF Renewable Energy is a leading US independent power producer with nearly 30 years of expertise in the renewable industry, covering all range of services from project origination, development, sales and marketing, to long-term asset management. EDF Renewable Energy specializes in wind and solar photovoltaic with presence in other segments of the renewable energy market: storage, biogas, biomass, hydro, and marine energy. EDF Renewable Energy's North American portfolio consists of 7.8 gigawatts of developed projects with 4.1 gigawatts of installed capacity throughout the US, Canada, and Mexico. The operations and maintenance subsidiary, EDF Renewable Services, operates over 10.7 GW throughout North America. EDF Renewable Energy is a subsidiary of EDF Energies Nouvelles. EDF Energies Nouvelles is the renewable energy arm of the EDF group, the leading electricity company in the world. For more information visit: www.edf-re.com
Contact: Tammie McGee, Duke Energy
24-Hour: 800.559.3853
Contact: Sandi Briner, EDF Renewable Energy
Office: 858-521-3525
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SOURCE Duke Energy
Article Date
3/23/2016Pork power gets new meaning with Duke Energy deal in N.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 21, 2016 /PRNewswire/ -- Duke Energy announced today it will buy swine and poultry waste output from a facility planned for eastern North Carolina – using the captured methane gas to generate renewable electricity at four power stations.
Carbon Cycle Energy will build and own the facility. The location has not been announced, but is expected to be in eastern North Carolina.
"It is encouraging to see the technological advances that allow waste-to-energy projects in North Carolina to be done in an environmentally responsible and cost-effective manner for our customers," said David Fountain, Duke Energy president - North Carolina.
Under North Carolina's Renewable Energy Portfolio Standard (REPS), Duke Energy companies must meet specific compliance targets for swine and poultry waste. Duke Energy is already buying electricity generated from other facilities in the state.
"We are pleased to partner with Carbon Cycle Energy to help meet our compliance objectives," added Fountain. "The gas from this project will generate carbon neutral electricity compared to the emissions that would result if the waste was left to decay naturally."
Expanding the utility's renewable energy output, the captured methane will be treated, injected into the pipeline system and used at four Duke Energy plants:
"We are pleased Duke Energy is supportive of our facility in North Carolina," said James Powell, CEO of Carbon Cycle Energy. "We still have additional work to do with licensing, local regulations and completing our organic waste supply chain. But having a confirmed buyer like Duke Energy is a major step."
Under a 15-year term, Carbon Cycle Energy is expected to produce more than 1 million MMBtus of pipeline-quality captured methane a year. Duke Energy should yield about 125,000 megawatt-hours of renewable energy a year – enough to power about 10,000 homes for a year. The renewable energy credits (RECs) generated annually by the effort will help satisfy state mandates.
On March 18, Duke Energy filed with the North Carolina Utilities Commission (NCUC) registration statements and additional information related to the plants being designated as New Renewable Energy Facilities. Under the state's REPS requirements, this must be done for plants that will consume and generate new renewable energy.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Carbon Cycle Energy
Headquartered in Boulder, Colorado, Carbon Cycle Energy is a renewable energy project development company focused on converting organic agricultural and industrial food waste into high value pipeline grade biomethane. More information about the company is available at C2-Energy.com.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
3/21/2016Repko to lead Duke Energy's fossil/hydro organization
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 16, 2016 /PRNewswire/ -- Regis Repko, Duke Energy's senior vice president of nuclear governance, projects and engineering, has been named the company's senior vice president and chief fossil/hydro officer, effective April 1, 2016.
Repko succeeds Charlie Gates, who announced his retirement earlier this month.
"Regis' 30 years of experience in managing multiple generation sites, engineering, project leadership and governance will further enhance our existing generation expertise and position us for future success," said Dhiaa Jamil, executive vice president and president of regulated generation and transmission.
As chief fossil/hydro officer, Repko will be responsible for the operation of the company's regulated fossil/hydro generation fleet in six states, including outage and maintenance services.
In this capacity, Repko will help shape the company's future generation strategy as Duke Energy rebalances its fossil, nuclear and renewable generation portfolio to reduce carbon emissions and reliably meet the needs of its customers.
Prior to assuming his current position in September 2014, Repko served as senior vice president of nuclear operations, where he provided oversight for several Duke Energy-operated nuclear plants, including Harris near New Hill, N.C., Brunswick near Southport, N.C., Oconee in Seneca, S.C., and Crystal River 3 in Crystal River, Fla.
Prior to that, he served as site vice president of Duke Energy's McGuire Nuclear Station in Huntersville, N.C.
Repko joined the company in 1985 as a junior engineer at Oconee Nuclear Station and has held a variety of engineering and leadership assignments throughout his career.
The Jeannette, Pa., native earned a Bachelor of Science degree in nuclear engineering from Pennsylvania State University. Repko also completed the Institute of Nuclear Power Operations (INPO) Senior Nuclear Plant Manager Course. He maintained a senior reactor operator's license from the U.S. Nuclear Regulatory Commission for Oconee Nuclear Station from February 1992 to September 2000.
Repko currently serves as chairperson of the Academy Council of the National Academy for Nuclear Training.
About Duke Energy
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media contact: Rick Rhodes
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/16/2016Duke Energy to put new battery and ultracapacitor system to the test in N.C.
Source: PR Newswire
CHARLOTTE, N.C., March 10, 2016 /PRNewswire/ -- Duke Energy has started testing a first-of-its-kind battery technology at its Rankin Substation in Gaston County, N.C.
The hybrid ultracapacitor-battery energy storage system (HESS) will demonstrate multiple service applications: extended operational life, rapid response, real-time solar smoothing and load shifting.
"This approach will allow our energy storage systems to do a variety of tasks," said Thomas Golden, technology development manager for Duke Energy. "With so many solar installations in North Carolina, we must look for innovative ways to better incorporate renewable energy into our system – and still provide reliable service at a competitive price for our customers."
One of the distribution lines at the substation has a 1.2-megawatt solar installation connected a mile away. With North Carolina fourth in the nation for installed solar power, managing and maintaining these grid-connected renewable installations is critical now and in the future, added Golden.
"Energy storage is changing the paradigm on how we generate, distribute and use energy. The demonstration of new technologies will help facilitate wider adoption across the nation," said Matt Roberts, executive director of the Washington, D.C.-based Energy Storage Association. "Duke Energy is to be commended for its work on this project and partnership efforts in advancing energy storage solutions."
Duke Energy is a national leader in battery storage among utilities. The company will be the host utility for the Energy Storage Association's annual conference in Charlotte, April 25-27.
Rankin is no stranger to innovation. In 2013, an earlier battery installation at the site was named Project of the Year by the editors of POWERGRID International magazine and PennWell Corp.
For the current project, which went operational last month, Duke Energy partnered with several other companies:
The HESS system will use UCAPs to help manage solar smoothing events in real-time – particularly when the solar power on the grid fluctuates due to cloud cover or other weather circumstances. UCAPs have been proven in other applications to reduce heat stress on the battery and minimize degradation. The batteries will be used to shift solar load to a more advantageous time for the utility.
Win Inertia's hybrid energy storage system (SHAD®) is based on a flexible hardware and software platform that enables the seamless operation of Aquion's batteries and Maxwell's UCAPs in the same energy solution. The hybrid energy storage integrates patented energy management algorithms. This helps integrate energy storage technology to provide simultaneous and cost effective grid services.
Maxwell UCAPs discharge and recharge power in the sub-second to minutes timeframe, with long operational life in a wide operating temperature window. This is ideal for stabilizing short-term PV power output fluctuation in large-scale deployments. This ensures reliable access to solar power on the grid.
The 100-kilowatt/ 300-Kwh battery uses a unique Aqueous Hybrid Ion chemistry. This includes a saltwater electrolyte and synthetic cotton separator. These materials should result in lower costs, while the water-based chemistry will provide a non-toxic and non-combustible product that is safe to handle and environmentally friendly.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
About Win Inertia
Win Inertia is a technological solution provider, pioneer in creating hybrid energy storage solutions, optimized in economic terms thanks to the integration of several energy storage technologies, enhanced power electronics and patented energy management algorithms in an exclusive, flexible hardware and software platform.
Win Inertia offers solutions to the new challenges faced by the power grid through the integration of innovative grid-scale energy storage solutions at different levels of the electrical grid, continuously and cost-effectively providing multiple grid services, and opening up new revenue streams. For more information, visit www.wininertia.es.
About Maxwell
For more than 50 years, Maxwell has been a global leader in the development and manufacture of innovative, cost-effective energy storage and power delivery solutions. Maxwell ultracapacitor products provide safe and reliable power solutions for applications in grid energy storage, transportation, consumer and industrial electronics, and telecommunications. Maxwell's high-voltage grading and coupling capacitors help to ensure the safety and reliability of electric utility infrastructure and other applications involving transport, distribution and measurement of high-voltage electrical energy. For more information, please visit: www.maxwell.com.
About Aquion Energy
Aquion Energy is the manufacturer of proprietary Aqueous Hybrid Ion (AHI™) batteries and battery systems for long-duration stationary energy storage applications. AHI batteries are optimized for daily deep cycling for residential solar, green architecture, off-grid and microgrid, energy management, and grid-scale applications. Aquion's high-performance, safe, sustainable and cost-effective batteries deliver reliability and value for customers. The company's battery systems provide flexible, modular energy storage that enables broad adoption of renewable energy technologies such as wind and solar, reduced reliance on fossil fuels, and optimization of existing grid-tied generation assets. For more information, visit www.aquionenergy.com.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
3/10/20163/9/2016 - Duke Energy appeals civil penalty, requesting treatment consistent with the law and other companies
Duke Energy appeals civil penalty, requesting treatment consistent with the law and other companies
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 9, 2016 /PRNewswire/ -- Duke Energy today issued the following statement in connection with the company's appeal of a $6.6 million civil penalty issued by the North Carolina Department of Environmental Quality (NCDEQ) on Feb. 8, 2016, related to the Dan River incident in 2014.
Clearly, our company is accountable for the Dan River incident and we recognize the state's right to issue an appropriate penalty in a situation like this.
This appeal requests that Duke Energy be treated in a manner that is fair and consistent with the law and other North Carolina companies.
The health of the Dan River
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/9/2016Duke Energy announces closing of public offering of common stock in connection with its pending acquisition of Piedmont Natural Gas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 7, 2016 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke") announced today the closing of its underwritten public offering of 10,637,500 shares of its common stock in connection with the forward sale agreement (as discussed below), which included the underwriter's full exercise of its option to purchase up to 1,387,500 additional shares of Duke's common stock.
The closing will result in approximately $766 million of gross proceeds (assuming each forward sale agreement is physically settled based on the offer price to the public of $72.00, as described more fully below).
In connection with the offering, Duke entered into forward sale agreements with an affiliate of Barclays Capital Inc. (the "forward counterparty") under which Duke agreed to issue and sell to the forward counterparty (subject to Duke's right to cash settle or net share settle the forward sale agreement) 10,637,500 shares of its common stock at the public offering price, less discounts and commissions, and subject to certain adjustments.
The net proceeds from the offering will be used to finance a portion of the cash purchase price relating to Duke's pending acquisition of Piedmont Natural Gas Company, Inc. ("Piedmont").
In connection with the forward sale agreements, the forward counterparty borrowed from third-party lenders and sold to the underwriters 10,637,500 shares of Duke's common stock at the close of the offering.
Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan and Wells Fargo Securities acted as joint book-running managers of this offering.
Settlement of the forward sale agreement(s) will occur upon closing of the Piedmont acquisition, which is expected by the end of 2016, but settlement may occur as late as June 30, 2017. Upon any physical settlement of either forward sale agreement, Duke will issue and deliver to the forward counterparty shares of Duke's common stock in exchange for cash proceeds per share, before any underwriting discount and offering expenses, equal to the offer price to the public, which will be $72.00 and will be subject to certain adjustments as provided in the relevant forward sale agreement. Duke may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreement(s).
About Duke Energy
Duke Energy Corporation is an energy company headquartered in Charlotte, N.C. Its Regulated Utilities business unit serves 7.4 million retail electric customers in six states in the Southeast and Midwest regions of the United States, representing a population of approximately 24 million people.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of Duke Energy Corporation, Duke Energy Carolinas, LLC, Progress Energy, Inc., Duke Energy Progress, LLC, Duke Energy Florida, LLC, Duke Energy Ohio, Inc. and Duke Energy Indiana, LLC (collectively, the Duke Energy Registrants) may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy Registrants' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to reinvest prospective undistributed earnings of foreign subsidiaries or repatriate such earnings on a tax-efficient basis; the expected timing and likelihood of completion of the proposed acquisition of Piedmont Natural Gas Company, Inc. (Piedmont), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed acquisition that could reduce anticipated benefits or cause the parties to abandon the acquisition, and under certain specified circumstance pay a termination fee of $250 million, as well as the ability to successfully integrate the businesses and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; and the ability to successfully complete future merger, acquisition or divestiture plans.
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Jennifer Zajac
24-Hour: 800.559.3853
Analysts: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy
Article Date
3/7/2016Duke Energy Indiana reaches settlement to modernize its statewide electric grid
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., March 7, 2016 /PRNewswire/ -- Duke Energy Indiana has reached a settlement with some of the state's key consumer groups on the company's plan to modernize its aging electric grid that delivers power to more than 800,000 Hoosier homes, businesses and industries.
The company reached agreement with the Indiana Office of Utility Consumer Counselor, the Duke Energy Indiana Industrial Group, Companhia Siderurgica Nacional, Steel Dynamics, Wabash Valley Power Association, Indiana Municipal Power Agency, Hoosier Energy Rural Electric Cooperative and the Environmental Defense Fund on a seven-year plan using a combination of advanced technology and infrastructure upgrades to improve service to customers.
"This plan is about creating an energy network that makes it easier for us to prevent and respond to power outages while strengthening an electric grid that has served the state for more than a century," said Duke Energy Indiana President Melody Birmingham-Byrd. "Besides replacing aging equipment, the plan modernizes the electric grid for the type of information and services that consumers have come to expect."
In May, the Indiana Utility Regulatory Commission denied Duke Energy Indiana's original plan proposed in August 2014, asking for more details and more focus on electric grid projects. In December, the company filed a revised plan addressing the commission's issues.
As part of the settlement, Duke Energy will reduce the level of capital investments recovered through the plan's customer bill tracker from approximately $1.8 billion to approximately $1.4 billion. Part of the reduction comes from $192 million earmarked for new advanced digital meters, but the company retains the ability to pursue the meters and defer their costs for consideration in a future rate case rather than through a monthly bill tracker as other items in the plan.
The company also agreed to reduce its return on equity on plan investments from 10.5 to 10 percent for investments that flow through the plan's bill tracker. This does not impact the company's 10.5 percent allowed return on equity on its other remaining investments.
Some of the plan's consumer benefits include:
If the company pursues advanced meters, it agreed to explore energy efficiency pilot programs involving new meter technology.
Advanced meters have additional benefits, including fewer estimated customer bills because meters can be read automatically. There also is quicker service because some customer requests can be performed remotely through the new meters without having to wait for a technician to arrive.
Advanced meters also provide customers with greater, quicker access to information on their energy use, which can help consumers make wise energy decisions.
Approximately 40 percent of the nation already has made the transition to advanced meter technology.
The proposed settlement will need to be approved by the Indiana Utility Regulatory Commission. State regulators will set a schedule for hearings on the proposed plan and settlement. If the plan is approved, customers will see a gradual rate increase averaging 0.75 percent per year between 2017 and 2022. A decision is anticipated in mid-2016.
The company filed the plan under the provisions of Indiana Senate Enrolled Act 560, state legislation that was passed in 2013 and is aimed at improving utility infrastructure. Under the law, utilities can file a seven-year infrastructure improvement plan with state utility regulators. If approved, a utility can request recovery of 80 percent of its investment through a customer bill tracker. Recovery of the remaining 20 percent would be deferred for review until the utility's next base rate case. Under the new law, utilities must file a base rate case before the end of their seven-year plans.
Duke Energy is one of the largest electric power holding companies in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact: Angeline Protogere
Office: 317.838.1338 | 24-Hour: 800.559.3853
@DE_AngelineP
Analysts: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy
Article Date
3/7/2016Duke Energy continues to make strong progress closing ash basins while reviewing the state's latest action
Source: PR Newswire
CHARLOTTE, N.C., March 4, 2016 /PRNewswire/ -- Duke Energy today issued the following statement in response to 12 Notices of Violation issued by the North Carolina Department of Environmental Quality (NCDEQ) related to seeps at coal ash basins.
------------------------
The best way to reduce or eliminate seeps altogether is to safely remove the water from ash basins and close them in ways that protect people and the environment. That's exactly what Duke Energy is doing right now.
There is nothing new here. Even the state environmental regulator acknowledges that seeps occur at every earthen impoundment, and those at ash basins are not impacting water quality.
We are doing everything the state has asked to address seeps, including cataloguing, testing and monitoring them. Nearly two years ago, the company included seeps in permit applications to the state and has been working through the process ever since.
Back in 2010, Duke Energy talked with NC DEQ about permitting seeps. At that time, the agency chose not to pursue that, believing seeps to be inconsequential.
Closing ash basins in ways that protect people and the environment
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 125 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
The Duke Energy News Center serves as a multimedia resource for journalists and features news releases, helpful links, photos and videos. Hosted by Duke Energy, illumination is an online destination for stories about remarkable people, innovations, and community and environmental topics. It also offers glimpses into the past and insights into the future of energy.
Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/4/2016Duke Energy to build its first solar project in Rowan County, N.C.
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 3, 2016 /PRNewswire/ -- Duke Energy announced its third solar project to be built in 2016, with the 6-megawatt Woodleaf Solar Facility slated for Rowan County, N.C.
"We see 2016 shaping up to be active year for Duke Energy-owned solar projects," said Rob Caldwell, senior vice president, Distributed Energy Resources. "Our customers want us to actively pursue renewable energy, and we are delivering on that desire."
Today, Duke Energy filed with the North Carolina Utilities Commission (NCUC) on a Certificate of Public Convenience and Necessity (CPCN) – needed for the plant to be built. CPCN's were filed earlier for projects in Davie and Union counties.
"We appreciate Duke Energy's continued investment in Rowan County with the Woodleaf project," said Greg Edds, chairman of the Rowan County Commissioners. "Duke Energy has made significant investments in the community to meet the energy needs of the region and we look forward to a continuing partnership with them in Rowan County."
The Woodleaf Solar Facility will be located near the intersection of Highway 801 and Old U.S. Highway 70 in the community of Woodleaf in Rowan County. It will occupy roughly 50 acres of land already owned by Duke Energy.
If approved by the NCUC, the project will begin construction in the second quarter of 2016, with completion targeted for the end of the year.
The project will be owned and operated by Duke Energy Carolinas and will help meet North Carolina's Renewable Energy Portfolio Standard.
Duke Energy continues to invest heavily in solar energy in North Carolina as part of its effort to deliver increasingly clean energy to its customers. The company is about to complete 141 megawatts of projects announced in 2015 – in Bladen, Duplin, Onslow and Wilson counties.
For 2016, Duke Energy utilities have announced 81 megawatts of planned solar power – already more than 50 percent of what was done in 2015. This aggressive expansion by Duke Energy companies has led North Carolina to be ranked fourth nationally for overall installed solar.
Over the past eight years, Duke Energy, through its regulated and commercial businesses, has invested more than $4 billion in solar and wind across the country. The company plans to invest about $3 billion in renewable energy over the next five years.
As a point of reference, one megawatt of large-scale solar is equivalent to about 200 typical residential rooftop systems. The number varies by state and conditions.
Background
More information about Duke Energy's overall solar program can be found here: http://www.duke-energy.com/solar
Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/
More articles about Duke Energy topics can be found on its illumination site: http://illumination.duke-energy.com/
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
3/3/2016Six Greater Cincinnati projects awarded more than $275,000 in Urban Revitalization grants from Duke Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CINCINNATI, March 2, 2016 /PRNewswire/ -- Add six projects to the growing list of grant recipients benefitting from Duke Energy's Urban Revitalization program in Ohio and Kentucky.
The company today announced the 2015 winners and $275,900 in funding during a program at Braxton Brewing Company – a 2014 Urban Revitalization grant recipient – in Covington, Ky. The event also served as a kickoff for the program's 2016 grant process.
"We launched Urban Revitalization as a pilot program in 2011," said Jim Henning, president of Duke Energy Ohio and Kentucky. "We immediately saw the positive impact it had on our neighborhoods and communities. There's significant excitement around reinventing our region's urban cores. And we're thrilled to partner with organizations who share our passion and vision for urban growth."
Since its founding in 2011, The Duke Energy Foundation has awarded $1.3 million in Urban Revitalization grants to 35 local initiatives. Here are details of the projects that were awarded grants today.
The Catalytic Fund – $42,476 for Carabello Coffee expansion
The Catalytic Fund, a Northern Kentucky revitalization agency, will use its grant money to spark the expansion of Carabello Coffee in Newport, Ky., by purchasing and renovating an 1,800-square-foot vacant building on Monmouth St. Carabello will then be able to expand onto Newport's main thoroughfare – and into the city's central business district.
The project will activate an entire corner of the block at Monmouth Street and allow Carabello to create three permanent jobs. It will likely have a ripple effect on other properties along Monmouth as the business currently attracts more than 1,400 transactions per week.
The Catalytic Fund – $30,000 to restore buildings on E. Fifth Street in Covington, Ky.
A $30,000 Urban Revitalization grant will help The Catalytic Fund restore three buildings on E. Fifth Street in Covington, Ky. The redevelopment of these structures will create 4,000 square feet of move-in-ready commercial space and five new market-rate apartments. It will also accommodate local business The Risk Firm's rapid expansion needs by providing 1,000 square feet of additional office space adjacent to its existing building. As a result, the company will add four new jobs to its payroll.
Pleasant Ridge Development Corporation – $50,000 to restore historic movie theater
For years, the Pleasant Ridge (Ohio) Development Corporation (PRDC) has targeted a 7,000-square-foot, historic movie theater on Montgomery Road for redevelopment. Now, with a $50,000 grant from Duke Energy, the group can begin restoring the property – removing the boarded-up façade, upgrading the HVAC and water systems, and more – into a boutique movie theater and community gathering place.
PRDC will partner with an established business that has produced pop-up movie events around the region for the past two years, and is ready to expand into a permanent location. The project will create 15 full-time jobs, and serve as a catalyst for additional development and job creation in the surrounding neighborhood.
Price Hill Will – $37,424 to restore heart of Eighth Street corridor in Lower Price Hill
The Lower Price Hill community is on the cusp of redefining itself as a thriving inner city neighborhood. Duke Energy is optimistic that a $37,424 grant to this nonprofit development agency will contribute to the area's revitalization. Price Hill Will will put the grant money toward renovating a building in the heart of the neighborhood's Eighth Street Business Corridor.
The 8th and Depot Project will create new retail space, six mixed-income live-work units, five new jobs, and redefine the building's façade. This project is seen as the anchor project to the entire corridor's redevelopment over the next 10-15 years.
Walnut Hills Redevelopment Foundation – $56,000 for redevelopment of the Century Theater and Durner Building
The Walnut Hills Development Foundation will use its $56,000 grant to stimulate the redevelopment of two nationally registered historic buildings in the Walnut Hills neighborhood of Cincinnati. The buildings, which have stood vacant for years, have fallen into significant disrepair.
When finished, this centerpiece of the Peebles' Corner historic district will create a co-working space and 33 permanent jobs in the community.
Hamilton County Business Center – $60,000 for small business coaching and mentoring
For the third consecutive year, Hamilton County Business Center was awarded grant money from Duke Energy's Urban Revitalization program. This year, the organization will use its $60,000 grant to provide business coaching for small businesses in Cincinnati's Mt. Healthy, Cheviot and Westwood communities.
Since 2013, the program has proved successful among small businesses in Price Hill, Northside, College Hill, East Walnut Hills, Pleasant Ridge and North College Hill.
About Duke Energy Ohio/Kentucky
Duke Energy Ohio and Kentucky's operations provide electric service to about 840,000 residential, commercial and industrial customers in a 3,000-square-mile service area, and natural gas service to approximately 525,000 customers in Southwest Ohio and Northern Kentucky.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media contact: Sally Thelen
513.287.2432 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
3/2/2016Duke Energy announces pricing of common stock offering in connection with its pending acquisition of Piedmont Natural Gas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., March 2, 2016 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke") announced today the pricing of a public offering of approximately 9.25 million shares of its common stock at $72.00 per share in connection with the forward sale agreement described below. Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers of the offering.
The expected net proceeds from the offering are to be used to finance a portion of the costs of Duke's pending acquisition of Piedmont Natural Gas Company, Inc. ("Piedmont"). The underwriters of the offering have been granted a 30-day option to purchase up to an additional 1.3875 million shares of Duke's common stock upon the same terms. The offering is expected to close on March 7, 2016, subject to customary closing conditions.
In connection with the offering, Duke entered into a forward sale agreement with an affiliate of Barclays Capital Inc. (the "forward counterparty") under which Duke agreed to issue and sell to the forward counterparty (subject to Duke's right to cash settle or net share settle the forward sale agreement) 9.25 million shares of its common stock at the public offering price, less discounts and commissions, and subject to certain adjustments. If the underwriters exercise their option to purchase additional shares of Duke's common stock, Duke expects to enter into an additional forward sale agreement with the forward counterparty, with respect to the additional shares.
Settlement of the forward sale agreement(s) will occur upon closing of the Piedmont acquisition which is expected by the end of 2016, but settlement may occur as late as June 30, 2017. Duke may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreement(s).
The offering is being made pursuant to Duke's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The preliminary prospectus supplement related to the offering will be available on the SEC's website at http://www.sec.gov. Copies of the prospectus supplement and the base prospectus relating to the offering may be obtained from: Barclays Capital Inc. by calling 1-888-603-5847, or by mail at Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, or by email at Barclaysprospectus@broadridge.com; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; Wells Fargo Securities, LLC Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or e-mail cmclientsupport@wellsfargo.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933.
About Duke Energy
Duke Energy Corporation is an energy company headquartered in Charlotte, N.C. Its Regulated Utilities business unit serves 7.4 million retail electric customers in six states in the Southeast and Midwest regions of the United States, representing a population of approximately 24 million people.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of Duke Energy Corporation, Duke Energy Carolinas, LLC, Progress Energy, Inc., Duke Energy Progress, LLC, Duke Energy Florida, LLC, Duke Energy Ohio, Inc. and Duke Energy Indiana, LLC (collectively, the Duke Energy Registrants) may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy Registrants' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to reinvest prospective undistributed earnings of foreign subsidiaries or repatriate such earnings on a tax-efficient basis; the expected timing and likelihood of completion of the proposed acquisition of Piedmont Natural Gas Company, Inc. (Piedmont), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed acquisition that could reduce anticipated benefits or cause the parties to abandon the acquisition, and under certain specified circumstance pay a termination fee of $250 million, as well as the ability to successfully integrate the businesses and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; and the ability to successfully complete future merger, acquisition or divestiture plans.
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Jennifer Zajac
24-Hour: 800.559.3853
Analysts: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy Corporation
Article Date
3/2/20162/29/2016 - Duke Energy Progress gains approval to transition to a smarter, cleaner energy future at the Asheville Plant
Duke Energy Progress gains approval to transition to a smarter, cleaner energy future at the Asheville Plant
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 29, 2016 /PRNewswire/ -- Duke Energy Progress today received approval from the North Carolina Utilities Commission (NCUC) to transition to a smarter, cleaner energy future at the Asheville Plant. The project is estimated to cost approximately $1 billion.
Under the agreement, the company plans to construct two 280-megawatt combined cycle natural gas-fueled electric generating units to replace its existing 376-megawatt coal plant, which will be retired by 2020.
"We appreciate the North Carolina Utilities Commission's thorough consideration and decision on our Western Carolinas Modernization Project," said David Fountain, Duke Energy's North Carolina president. "We are fully committed to creating a smarter and cleaner energy future for the region.
"We also have a unique opportunity to work with the community to reduce energy demand and invest in technology that will provide cleaner energy to power the growing region of Western North Carolina," he added. "This project will allow us to continue to provide cost-effective, reliable power for all of our customers in North Carolina and South Carolina."
The company is working with the Asheville, Buncombe County and surrounding communities to explore solutions that will reduce energy use in the fast-growing, nine-county Duke Energy Progress-West region, which serves more than 350,000 people.
The company will closely track collective progress toward reducing daily and peak power demand and will file annual updates on the progress of the community's efforts to reduce peak load growth.
If these efforts are successful, Duke Energy Progress will delay or cancel plans to file a future Certificate of Public Convenience and Necessity (CPCN) application for the commercial operation of the Asheville 186-megawatt simple-cycle power plant.
Duke Energy will file a future CPCN application to seek approval for a minimum of 15 megawatts of new solar generation over the next seven years after the Asheville coal units have been decommissioned and coal ash excavation is completed.
The company also plans to seek approval to install a minimum of 5 megawatts of utility-scale electricity storage over the next seven years. Company officials will continue to evaluate other investments in renewables and other technologies to cost-effectively meet the needs of its customers.
Environmental and customer benefits
Construction of the natural gas-fired combined-cycle power plants is scheduled to begin in 2016 and be in service by late 2019. The new plant will have significantly lower environmental impacts than the existing coal plant.
(The percentages above are estimates and include both phases of the modernization project. Final percentages will be determined after the company receives environmental permits.)
In addition to the environmental benefits, the combined cycle gas units' efficiency ratings are about 35 percent less expensive to operate than the existing coal units. These savings will be annually passed on to customers dollar-for-dollar via the company's annual fuel clause adjustment.
Upgrades to existing transmission equipment on the Asheville Plant site are also planned as part of this project.
Since 1970, peak power demand has more than tripled in Duke Energy Progress' Western Region. Ensuring power reliability was particularly difficult during the winters of 2014 and 2015, when peak demand was 30 percent higher than in 2013. Over the next decade, continued population and business growth is expected to increase overall power demand by more than 17 percent.
For more information about the company's plan see http://www.duke-energy.com/western-carolinas-modernization/.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/29/2016Duke Energy announces public offering of common stock in connection with its pending acquisition of Piedmont Natural Gas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 29, 2016 /PRNewswire/ -- Duke Energy Corporation (NYSE: DUK) ("Duke") announced today that it has commenced a registered public offering of 9.25 million shares of its common stock in connection with a forward sale agreement (as discussed below). Barclays, BofA Merrill Lynch, Citigroup, J.P. Morgan and Wells Fargo Securities are acting as joint book-running managers of this offering.
The expected net proceeds from the offering are to be used to finance a portion of the costs of Duke's pending acquisition of Piedmont Natural Gas Company, Inc. ("Piedmont"). In connection with the offering, Duke expects to grant the underwriters of the offering a 30-day option to purchase up to an additional 1.3875 million shares of Duke's common stock upon the same terms.
In connection with the offering, Duke expects to enter into a forward sale agreement with an affiliate of Barclays Capital Inc. (the "forward counterparty") under which Duke will agree to issue and sell to the forward counterparty (subject to Duke's right to cash settle or net share settle the forward sale agreement) 9.25 million shares of its common stock at the public offering price, less discounts and commissions, and subject to certain adjustments. If the underwriters exercise their option to purchase additional shares of Duke's common stock, Duke expects to enter into an additional forward sale agreement with the forward counterparty with respect to the additional shares.
Settlement of the forward sale agreement(s) will occur upon closing of the Piedmont acquisition, which is expected by the end of 2016, but may occur as late as June 30, 2017. Duke may, subject to certain conditions, elect cash settlement or net share settlement for all or a portion of its rights or obligations under the forward sale agreement(s).
The offering is being made pursuant to Duke's effective shelf registration statement filed with the Securities and Exchange Commission (the "SEC"). The preliminary prospectus supplement related to the offering will be available on the SEC's website at http://www.sec.gov. Copies of the prospectus supplement and the base prospectus relating to the offering may be obtained from: Barclays Capital Inc. by calling 1-888-603-5847, or by mail at Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long Island Ave., Edgewood, NY 11717, or by email at Barclaysprospectus@broadridge.com; BofA Merrill Lynch, 222 Broadway, New York, NY 10038, Attn: Prospectus Department, email dg.prospectus_requests@baml.com; Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: (800) 831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204; Wells Fargo Securities, LLC Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by calling (800) 326-5897 or e-mail cmclientsupport@wellsfargo.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or country in which the offer, solicitation or sale of these securities would be unlawful prior to registration or qualification under the securities laws of any state or country. The offering of these securities will be made only by means of a prospectus and a related prospectus supplement meeting the requirements of Section 10 of the Securities Act of 1933.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.4 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 24 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. Follow Duke Energy on Twitter, https://twitter.com/dukeenergy, LinkedIn, https://www.linkedin.com/company/duke-energy-corporation and Facebook https://www.facebook.com/dukeenergy.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of Duke Energy Corporation, Duke Energy Carolinas, LLC, Progress Energy, Inc., Duke Energy Progress, LLC, Duke Energy Florida, LLC, Duke Energy Ohio, Inc. and Duke Energy Indiana, LLC (collectively, the Duke Energy Registrants) may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy Registrants' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to reinvest prospective undistributed earnings of foreign subsidiaries or repatriate such earnings on a tax-efficient basis; the expected timing and likelihood of completion of the proposed acquisition of Piedmont Natural Gas Company, Inc. (Piedmont), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed acquisition that could reduce anticipated benefits or cause the parties to abandon the acquisition, and under certain specified circumstance pay a termination fee of $250 million, as well as the ability to successfully integrate the businesses and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; and the ability to successfully complete future merger, acquisition or divestiture plans.
Additional risks and uncertainties are identified and discussed in the Duke Energy Registrants' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; the Duke Energy Registrants expressly disclaim an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Jennifer Zajac
24-Hour: 800.559.3853
Analysts: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy Corporation
Article Date
2/29/2016Duke Energy board appoints Wick Moorman as new board member
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 29, 2016 /PRNewswire/ -- Duke Energy's board of directors today announced the appointment of former Norfolk Southern Corp. CEO and Executive Chairman Charles W. "Wick" Moorman as a new board member, effective March 1, 2016.
"Wick Moorman led one of America's largest and most important railroad businesses," said Duke Energy CEO, President and Chairman Lynn Good. "His experience and strategic insights will be invaluable in helping us deliver results for our customers, shareholders and communities."
Moorman served as the railroad company's CEO from 2005 to 2015 and executive chairman from 2006 until his retirement in 2015.
He joined Norfolk Southern in 1970, holding various leadership positions in the company's operations, human resources, labor relations, information technology and strategic planning units during the course of his career.
Moorman will serve on the nuclear oversight committee of Duke Energy's board.
He also serves on the boards of Chevron Corp., the Virginia Chapter of The Nature Conservancy, the Medical College Operating Board of the University of Virginia and the Georgia Tech Foundation.
Moorman, 64, is a graduate of Georgia Tech and Harvard Business School.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Tom Williams
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/29/2016Duke Energy celebrates construction of new natural gas plant with outdoor ceremony
Source: PR Newswire
CRYSTAL RIVER, Fla., Feb. 25, 2016 /PRNewswire/ -- On March 2, 2016, Duke Energy will host a groundbreaking ceremony for the new 1,640 megawatt combined-cycle natural gas plant in Citrus County that will help serve Florida's 1.7 million customers starting in 2018.
"Building highly efficient natural gas plants is part of Duke Energy's balanced approach to meeting future demand for reliable and increasingly clean electricity," said Alex Glenn, Duke Energy Florida's state president. "Since 2008, we have reduced our air emissions by nearly 80 percent and our carbon footprint by 15 percent. This state-of-the-art, highly-efficient plant will help us further reduce carbon emissions."
The combined-cycle natural gas plant is among the largest under construction in the industry and one of the most important projects for Duke Energy. It will replace generation from plant retirements, including two 1960s-era coal-fired plants. The plant will also comply with strict environmental regulations, use clean-burning, highly-efficient technology and benefit the local economy and tax base.
"The construction work is projected to have an area economic benefit of more than $600 million," said Glenn. "During the height of construction, the project will create 600 to 700 temporary construction jobs. The project will benefit more than a dozen companies across the U.S. and around the world."
For example, Mitsubishi Hitachi Power Systems is manufacturing the combustion turbine generators in Japan and Savannah, Ga. Mitsubishi Hitachi also has significant operations in Lake Mary, Fla.
"We will use local suppliers when possible," added Glenn. "Duke Energy has been a vital part of the Citrus County community for 50 years. The backfill material for the foundation, dump trucks hauling the material and fencing are all from local suppliers. A local concrete supplier will also provide 286,700 cubic yards of concrete for the project. That's about 57 football fields filled waist-deep in concrete."
In September 2015, the project received all regulatory approvals and permits to move forward, including site certification from the Florida Department of Environmental Protection, need determination from the Florida Public Service Commission, wetlands permit from the U.S. Army Corps of Engineers and various other permits and approvals. The project's engineering, procurement and construction contractor, Fluor, started clearing the land in late 2015 and anticipates gradually hiring temporary workers in spring 2016.
The plant's first 820 megawatts are expected to come online in spring 2018, and the second 820 megawatts are expected to come online by December 2018. One megawatt powers about a thousand homes. The Citrus plant will be the second largest generator for Duke Energy Florida. The largest is the 1,912 megawatt Hines Energy Complex near Bartow.
Groundbreaking event details
For more information about the project, click on this fact sheet or go to www.duke-energy.com/CitrusNaturalGas.
About Fluor
Based in Irving, Texas, Fluor is one of the largest publicly traded engineering, procurement and construction, maintenance and project management companies in the world with offices in Greenville, S.C., and Charlotte, N.C.
Fluor has been a Duke Energy contractor for more than 40 years. In addition to the combined-cycle natural gas plant project in Citrus County, Fluor was awarded the engineering, procurement and construction contract for the new W.S. Lee combined-cycle natural gas plant in S.C. In the early 1980s, Fluor also constructed Crystal River coal-fired units 4 and 5.
About Duke Energy Florida
Duke Energy Florida owns coal-fired and natural gas generation providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest. Its commercial power and international energy business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Heather Danenhower
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/25/20162/25/2016 - Duke Energy powers Palmetto State communities with more than $1.7 million in grant funding in 2015
Duke Energy powers Palmetto State communities with more than $1.7 million in grant funding in 2015
Source: PR Newswire
GREENVILLE, S.C., Feb. 25, 2016 /PRNewswire/ -- Duke Energy is powering South Carolina with more than electricity. Last year, the utility donated more than $1.7 million to nonprofit organizations throughout the state.
Palmetto State grant recipients in 2015 included The Children's Museum of the Upstate, Keep Oconee Beautiful, Greenwood Community Theater, The Felician Center, Governor's School for Math and Science, Florence-Darlington Technical College, Central Carolinas Technical College, along with dozens of others.
"Giving back to the communities we serve is an integral part of Duke Energy's philosophy," said Clark Gillespy, Duke Energy's South Carolina president. "We look forward to continuing our legacy of providing community support through charitable giving and employee volunteerism in 2016 and beyond."
Duke Energy's philanthropy helped fund projects such as technical college programs that are focused on breaking the cycle of poverty through education, STEM-focused after-school programs for at-risk and underserved children, environmental education programs in public schools, health and safety services through the Red Cross for victims of natural disasters, and supporting cultural arts and arts-infused educational programs.
"Duke Energy has been a terrific partner for The Children's Museum of the Upstate, supporting our efforts to offer countless hours of STEM programming to our 150,000 visitors annually," said Nancy Halverson, president and CEO of The Children's Museum in Greenville. "Our popular programs integrate STEM concepts with hands-on learning projects and experiments that spark a lifelong passion for curiosity and learning through play."
The grants are administered through the Duke Energy Foundation, which provides philanthropic support to address the needs vital to the health of our communities, with a focus on education, environment, economic and workforce development and community impact.
The foundation annually funds more than $25 million to communities throughout Duke Energy's six-state service area.
"Duke Energy's support has provided opportunities for children in our learning center to visit state parks, participate in educational nature programs, perform science experiments and even enjoy dance classes for cultural enrichment," said Sister Suzanne Dziedzic, the director of the Felician Center, a nonprofit agency that helps enrich the lives of children in rural Williamsburg County. "Without this support, these children would not have access to these valuable educational opportunities."
Additionally, Duke Energy South Carolina employees volunteered more than 900 hours of community service last year through the "Duke Energy in Action" program.
In 2015, employees participated in many volunteer events in their communities, including supplying turkeys and helping to prepare Thanksgiving dinner for those in need in Seneca, cleaning up Lake Conestee Nature Park in Greenville, sprucing up Mineral Spring Park in Williamston for the annual Christmas celebration, and organizing food, clothing and school supply drives for those in need, just to name a few.
For additional information on Duke Energy's community giving programs visit www.duke-energy.com/foundation.
About The Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to address the needs vital to the health of its communities. Annually, the Foundation funds more than $25 million in charitable grants, with a focus on education, environment, economic and workforce development, and community impact. Duke Energy has long been committed to supporting the communities where its customers and employees live and work, and will continue to build on this legacy. For more information, visit www.duke-energy.com/foundation.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Ryan Mosier
Office: 864.370.5036 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/25/2016Duke Energy Florida installing solar panels in Central Florida
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Feb. 24, 2016 /PRNewswire/ -- Thousands of solar panels are being installed in Osceola County as part of Duke Energy Florida's strategic solar plan.
The company is on track to double the amount of utility-owned solar energy in the state by 2024.
The Duke Energy Osceola Solar Facility, scheduled to come online this spring, is one of many that will begin producing solar electricity over the next three years, helping provide Florida customers greater access to renewable energy.
"We are excited by the advancements we're making in Florida's solar development," said Alex Glenn, Duke Energy state president – Florida. "This is one more step in providing cleaner, smarter energy solutions that customers value. We'll continue taking advantage of declining solar prices as we move forward with our strategy."
Construction of 15,000 solar panels and related facilities is well underway on 17 acres of a larger 25-acre parcel owned by Duke Energy Florida on Canoe Creek Road in Kenansville. The larger parcel includes the Canoe Creek transmission substation, owned and operated by DEF. The existing substation will allow the new solar facility to be connected to the grid without additional easements or extensive line construction. When operational, the Osceola Solar Facility will generate up to 3.8MW of electricity.
Members of the news media are invited to the site on Friday, Feb. 26, from 10:30 a.m. to 12:30 p.m. Panels will be installed and solar experts will be available for interviews.
One megawatt of large-scale solar is equivalent to approximately 200 typical residential rooftop systems. The number varies by state and conditions.
The company is busy with other solar projects in the Sunshine State. It plans to add up to 500 MW by 2024.
Announced last October, construction for the 5-MW Perry Solar Facility is underway on 22 acres of utility-owned land in Taylor County. The project will use approximately 22,000 solar panels and will be about the size of 17 football fields. The project is expected to be operating this summer.
In 2015, Duke Energy also announced construction of a 5-MW solar facility that will serve Reedy Creek Improvement District, the power provider to Walt Disney World. The project is also expected to be completed in spring 2016 and will span 20 acres and feature 48,000 solar panels.
A $1 million rooftop solar and battery storage project has also been developed in conjunction with the University of South Florida (USF) St. Petersburg. This system is being used in an ongoing research project with USF to explore the integration of solar photovoltaic energy and distributed energy storage.
Over the past eight years, Duke Energy has invested more than $4 billion in solar and wind facilities in 12 states, including the company's Stanton Solar Farm located in Orange County, which became operational in 2011. The company plans to invest about $3 billion in renewable energy over the next five years.
Duke Energy Florida
Duke Energy Florida owns coal-fired and natural gas generation providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Suzanne Grant
Office: 727.820.5048
24-Hour: 800.559.3853
Twitter: @DE_SuzanneG
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SOURCE Duke Energy
Article Date
2/24/2016Advisory: Duke Energy reminds customers how to stay safe following the severe weather
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 24, 2016 /PRNewswire/ -- High winds and severe thunderstorms are forecasted to impact the Carolinas today and early Thursday.
While the full impact of the storm is unknown, Duke Energy wants to remind customers how to stay safe during and following the severe weather. The company urges customers to:
Reporting outages
Customers who experience an outage during the storm should call the automated outage-reporting system at 1-800-POWERON (1-800-769-3766) or text OUT to 57801 (standard text and data charges may apply).
Customers can also report an outage or view current outages online at www.duke-energy.com/outages.
Duke Energy is also providing updates on its social media channels to keep customers informed if significant outages occur.
Preparation
The company reminds customers to have an emergency kit ready in case they experience an extended outage. We recommend that customers check supplies of flashlights, batteries, bottled water, non-perishable foods, medicines, etc.
Customers should also ensure a portable, battery-operated radio, TV or NOAA weather radio is on hand and your cell phone is charged. Be sure to check on family members, friends and neighbors who have special medical needs or who are elderly, to ensure they have necessary emergency supplies.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/24/2016Duke Energy's Strategic Services lead A.R. Mullinax to retire May 1
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 24, 2016 /PRNewswire/ -- A.R. Mullinax, Duke Energy's executive vice president of Strategic Services, announced Tuesday he would retire from the company effective May 1.
Mullinax, 61, has worked for Duke Energy and its predecessor companies for the past 38 years. No replacement has been named.
"I'm grateful for A.R.'s steady leadership and commitment to Duke Energy," said Lynn Good, chairman, president and chief executive officer. "He has accepted many challenges throughout his career and has always delivered results for the company and our customers."
Mullinax currently oversees Duke Energy's Strategic Services function, which encompasses information technology, supply chain and administrative services.
"While I have been privileged to work in a variety of areas and on several major projects over the past 38 years, the opportunity to work with so many wonderful people at Duke Energy has also been a great experience," said Mullinax.
Previously, he served as vice president, Information Technology, and chief information officer. During 2011, he served as Duke Energy's integration executive, with responsibility for the planning of integration activities for the Duke Energy-Progress Energy merger.
Mullinax was honored last year by the Charlotte Business Journal for his long-time success in the information technology field.
His career began with the internal audit staff for Texas Eastern Corp. in 1977, a predecessor company of Duke Energy. In the decades that followed, he served in roles with greater responsibility in various functions in Houston, Saudi Arabia and Charlotte – including corporate planning, accounting, information technology, shared services, global sourcing and logistics.
A native of Cameron, Texas, Mullinax earned his undergraduate degree at Texas A&M University. After his retirement, he expects to reside in North Carolina, but spend more time in his native Texas.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Randy Wheeless
Office: 704.382.8379
24-Hour: 800.559.3853
Twitter: @DE_RandyW
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SOURCE Duke Energy
Article Date
2/24/2016Duke Energy reports 2015 adjusted EPS and introduces 2016 adjusted EPS guidance range
Source: PR Newswire
CHARLOTTE, N.C., Feb. 18, 2016 /PRNewswire/ --
Duke Energy today announced 2015 full-year adjusted diluted EPS of $4.54 compared to $4.55 in 2014. Duke Energy's full-year 2015 reported diluted EPS was $4.05, compared to $2.66 in 2014.
Full year adjusted results were driven by strong operational performance in the regulated business as well as benefits from closing certain strategic initiatives earlier than anticipated, helping offset weakness at International.
Fourth quarter 2015 adjusted diluted EPS was 87 cents, compared to 86 cents for fourth quarter 2014. Fourth quarter 2015 reported diluted EPS was 69 cents, compared to 14 cents for fourth quarter 2014.
Fourth quarter adjusted results were supported by increased retail pricing and wholesale margins in the regulated business, helping to offset the impact of record mild December weather in the Carolinas.
Reported diluted EPS includes the impact of special items, which are excluded from adjusted diluted EPS. Special items during 2015 principally included charges associated with a settlement in Indiana related to the ongoing Edwardsport IGCC regulatory proceedings, severance related to cost savings initiatives, and merger costs-to-achieve.
Special items during 2014 principally included charges related to the company's intent to repatriate $2.7 billion of foreign earnings, a settlement resolving the federal grand jury investigation into the company's coal ash basin operations, and merger costs-to-achieve.
"I am pleased with our strong execution at the regulated utilities during 2015, underpinned by exceptional operational performance," said Lynn Good, chairman, president and chief executive officer. "The dedication by our employees helped us meet growing customer peak demand as well as achieve industry-leading safety performance during the year.
"We also successfully completed several strategic transactions, increasing our focus on our core regulated and highly contracted businesses. This focus positions us for evolving customer expectations and a desire for lower carbon, more flexible generation resources while supporting greater stability in earnings and cash flows for our investors," Good said.
The company has established its 2016 adjusted diluted EPS guidance range at $4.50 to $4.70.
Business unit results
In addition to the summary business unit discussion below, comprehensive tables of quarterly and year-to-date adjusted earnings per share drivers compared to the prior year are provided on pages 17 and 18.
The discussion below of fourth-quarter and full-year results includes adjusted segment income, which is a non-GAAP financial measure. The tables on pages 27 through 30 present a reconciliation of reported results to adjusted results. Per share segment variances highlighted below exclude the benefit of the $1.5 billion accelerated stock repurchase program that was completed in June.
Regulated Utilities
Regulated Utilities recognized fourth quarter 2015 adjusted segment income of $601 million, compared to $551 million in the fourth quarter 2014, an increase of 7 cents per share. These results were driven by:
These favorable drivers were partially offset by:
Full-year 2015 adjusted segment income for Regulated Utilities was $2,972 million, compared to $2,897 million in 2014, an increase of 10 cents per share.
Increased year-to-date results at Regulated Utilities were primarily driven by:
These favorable drivers were partially offset by:
International Energy
International Energy recognized fourth quarter 2015 adjusted segment income of $68 million, compared to $72 million in the fourth quarter 2014, which was flat on a per share basis. These results were driven by:
These unfavorable drivers were partially offset by:
Full-year 2015 adjusted segment income for International Energy was $225 million, compared to $428 million in 2014, a decrease of 29 cents per share.
International Energy's lower year-to-date adjusted earnings were driven by:
Commercial Portfolio
Subsequent to the sale of its nonregulated Midwest Commercial Generation Business to Dynegy Inc. in April 2015, Commercial Portfolio (formerly Commercial Power) includes Duke Energy's unregulated renewable assets as well as its commercial electric and gas transmission investments.
Commercial Portfolio recognized fourth quarter 2015 adjusted segment income of $41 million, compared to $32 million in the fourth quarter 2014, an increase of 1 cent per share. The increase in Commercial Portfolio's quarterly earnings was primarily due to additional in-service wind and solar facilities in the renewables portfolio (+$0.03 per share), offset by the absence of earnings from the Midwest generation business (-$0.01 per share), which was sold in April.
Full-year 2015 adjusted segment income for Commercial Portfolio was $140 million, compared to $109 million in 2014, an increase of 4 cents per share. This increase was primarily due to higher results from the Midwest generation business (+$0.04 per share), which was sold in April, and increased earnings from the renewables portfolio due to additional in-service wind and solar facilities despite lower wind resources during the year (+$0.01 per share).
Other
On an adjusted basis, Other primarily includes corporate interest expense not allocated to the business units, results from Duke Energy's captive insurance company, other investments, and quarterly income tax levelization adjustments.
Other recognized a fourth quarter 2015 adjusted net expense of $108 million, compared to net expense of $45 million in the fourth quarter 2014, additional expense of 9 cents per share. Other's quarterly results were primarily driven by higher income tax expense (-$0.07 per share) due to impacts from the extension of bonus depreciation and quarterly tax levelization adjustments, including renewable tax credits which were allocated to Commercial Portfolio upon completion of the projects.
On a year-to-date basis, Other recognized adjusted net expense of $185 million, compared to $216 million for 2014, an improvement of 5 cents per share. Other's year-to-date results were primarily driven by favorable income taxes (+$0.07 per share) due to favorable tax structuring and settlements.
On a consolidated basis, the company experienced a fourth-quarter 2015 adjusted effective tax rate of approximately 31 percent, compared to approximately 30 percent in the prior year. The company experienced an adjusted effective tax rate of approximately 32 percent for full-year 2015, consistent with the rate in 2014. Adjusted effective tax rate is a non-GAAP financial measure. The tables on pages 31 and 32 present a reconciliation of reported effective tax rate to adjusted effective tax rate.
Accelerated stock repurchase program
In connection with the transaction to sell the Midwest Generation business to Dynegy for $2.8 billion, which closed in April 2015, Duke Energy completed a $1.5 billion accelerated stock repurchase (ASR). The ASR resulted in retirements of approximately 19.8 million shares, providing a benefit to the fourth quarter 2015 and year-to-date results of approximately 2 cents per share and 9 cents per share, respectively.
Earnings Conference Call for Analysts
An earnings conference call for analysts is scheduled for 10 a.m. ET today to provide financial and other business updates. The conference call will be hosted by Lynn Good, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-719-9786 in the United States or 719-325-4768 outside the United States. The confirmation code is 8694980. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Feb. 28, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 8694980. A replay and transcript also will be available by accessing the investors' section of the company's website.
Special Items and Non-GAAP Reconciliation
Special items affecting Duke Energy's adjusted diluted EPS for quarterly and full-year results in 2015 and 2014 include:
|
(In millions, except per-share amounts) |
After-Tax Amount |
4Q2015 EPS Impact |
4Q2014 EPS Impact |
|
Fourth Quarter 2015 |
|||
|
· Cost savings initiatives |
$(88) |
$(0.13) |
|
|
· Costs to achieve, mergers |
$(18) |
$(0.03) |
|
|
· Ash basin settlement and penalties |
$(7) |
$(0.01) |
|
|
· Edwardsport settlement |
$(2) |
$-- |
|
|
· Economic hedges (mark-to-market) |
$(1) |
$-- |
|
|
· Discontinued operations |
$(9) |
$(0.01) |
|
|
Fourth Quarter 2014 |
|||
|
· International tax adjustment |
$(373) |
$(0.53) | |
|
· Litigation reserve |
$(102) |
$(0.14) | |
|
· Costs to achieve, mergers |
$(20) |
$(0.03) | |
|
· Discontinued operations (1)(2) |
$(18) |
$(0.02) | |
|
Total diluted EPS impact |
$(0.18) |
$(0.72) |
(1) Reported discontinued operations includes the Midwest generation impairment, the economic hedges (mark-to-market) of Midwest generation, and operating results of the Midwest generation business
(2) Represents the Midwest generation operation results reported as discontinued operations of $(0.04) per diluted share, partially offset by tax benefit related to the sale but not reported as discontinued operations of $0.02 per diluted share, which are treated as a special item and reflected in adjusted diluted EPS.
|
(In millions, except per-share amounts) |
After-Tax Amount |
2015 EPS Impact |
2014 Impact |
|
Full-Year 2015 |
|||
|
· Cost savings initiatives |
$(88) |
$(0.13) |
|
|
· Costs to achieve, mergers |
$(60) |
$(0.09) |
|
|
· Edwardsport settlement |
$(58) |
$(0.08) |
|
|
· Ash basin settlement and penalties |
$(11) |
$(0.02) |
|
|
· Discontinued operations (1)(2) |
$(119) |
$(0.17) |
|
|
Full-Year 2014 |
|||
|
· International tax adjustment |
$(373) |
$(0.53) | |
|
· Costs to achieve, mergers |
$(127) |
$(0.18) | |
|
· Litigation reserve |
$(102) |
$(0.14) | |
|
· Asset impairments |
$(59) |
$(0.08) | |
|
· Economic hedges (mark-to-market) |
$(6) |
$(0.01) | |
|
· Asset sales |
$9 |
$0.01 | |
|
· Discontinued operations (1)(3) |
$(677) |
$(0.96) | |
|
Total diluted EPS impact |
$(0.49) |
$(1.89) |
(1) Reported discontinued operations includes the Midwest generation impairment, the economic hedges (mark-to-market) of Midwest generation, and operating results of the Midwest generation business
(2) Represents reported income from discontinued operations of $0.03 per diluted share, including the impact of a litigation reserve related to the Midwest generation business, less the Midwest generation operation results reported as discontinued operations of $(0.14) per diluted share and a tax charge resulting from the completion of the sale of the Midwest generation business but not reported as discontinued operations ($0.06).
(3) Represents reported loss from discontinued operations of $(0.80) per diluted share, the Midwest generation operation results reported as discontinued operations of $(0.16) per diluted share, and elimination entries of $(0.02) per diluted share, partially offset by tax benefit related to the sale but not reported as discontinued operations of $0.02 per diluted share, which are treated as a special item and reflected in adjusted diluted EPS.
Reconciliation of reported to adjusted diluted EPS for the quarter:
|
4Q2015 EPS |
4Q2014 EPS | |
|
Diluted EPS, as reported |
$0.69 |
$0.14 |
|
Adjustments to reported EPS: |
||
|
· Diluted EPS impact of special items and discontinued operations (net of tax) |
$0.18 |
$0.72 |
|
Diluted EPS, adjusted |
$0.87 |
$0.86 |
Reconciliation of reported to adjusted diluted EPS for the year:
|
2015 EPS |
2014 EPS | |
|
Diluted EPS, as reported |
$4.05 |
$2.66 |
|
Adjustments to reported EPS: |
||
|
· Diluted EPS impact of special items and discontinued operations (net of tax) |
$0.49 |
$1.89 |
|
Diluted EPS, adjusted |
$4.54 |
$4.55 |
Non-GAAP financial measures
Management evaluates financial performance in part based on the non-GAAP financial measures, adjusted earnings and adjusted diluted earnings per share (EPS). These items are measured as income from continuing operations net of income (loss) attributable to non-controlling interests, adjusted for the dollar and per-share impact of mark-to-market impacts of economic hedges in the Commercial Portfolio segment and special items including the operating results of the Midwest Generation business (Disposal Group) classified as discontinued operations for GAAP purposes. Special items represent certain charges and credits, which management believes will not be recurring on a regular basis, although it is reasonably possible such charges and credits could recur. Operating results of the Disposal Group sold to Dynegy are reported as discontinued operations, including a portion of the mark-to-market adjustments associated with derivative contracts. Management believes that including the operating results of the Disposal Group reported as discontinued operations better reflects its financial performance and therefore has included these results in adjusted earnings and adjusted diluted EPS prior to the sale of the Disposal Group. Additionally, as a result of completing the sale of the Disposal Group during the second quarter of 2015, state income tax expense increased as state income tax apportionments changed. The additional tax expense was recognized in Continuing Operations on a GAAP basis. This impact to state income taxes has been reflected in Discontinued Operations in the Commercial Portfolio segment for adjusted diluted EPS purposes as management believes these impacts are incidental to the sale of the Disposal Group. Derivative contracts are used in Duke Energy's hedging of a portion of the economic value of its generation assets in the Commercial Portfolio segment. The mark-to-market impact of derivative contracts is recognized in GAAP earnings immediately and, if associated with the Disposal Group, classified as discontinued operations, as such derivative contracts do not qualify for hedge accounting or regulatory treatment. The economic value of generation assets is subject to fluctuations in fair value due to market price volatility of input and output commodities (e.g. coal, electricity, natural gas). Economic hedging involves both purchases and sales of those input and output commodities related to generation assets. Operations of the generation assets are accounted for under the accrual method. Management believes excluding impacts of mark-to-market changes of the derivative contracts from adjusted earnings until settlement better matches the financial impacts of the derivative contract with the portion of economic value of the underlying hedged asset. Management believes the presentation of adjusted earnings and adjusted diluted EPS provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy's performance across periods. Management uses these non-GAAP financial measures for planning and forecasting and for reporting results to the Board of Directors, employees, shareholders, analysts and investors concerning Duke Energy's financial performance. Adjusted diluted EPS is also used as a basis for employee incentive bonuses. The most directly comparable GAAP measures for adjusted earnings and adjusted diluted EPS are Net Income Attributable to Duke Energy Corporation and Diluted EPS Attributable to Duke Energy Corporation common shareholders, which include the dollar and per share impact of special items, mark-to-market impacts of economic hedges in the Commercial Portfolio segment and discontinued operations.
Management evaluates segment performance based on segment income. Segment income is defined as income from continuing operations net of income attributable to non-controlling interests. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated in the Consolidated Financial Statements. Management also uses adjusted segment income as a measure of historical and anticipated future segment performance. Adjusted segment income is a non-GAAP financial measure, as it is based upon segment income adjusted for the mark-to-market impacts of economic hedges in the Commercial Portfolio segment and special items, including the operating results of the Disposal Group classified as discontinued operations for GAAP purposes. Management believes the presentation of adjusted segment income as presented provides useful information to investors, as it provides them with an additional relevant comparison of a segment's performance across periods. The most directly comparable GAAP measure for adjusted segment income is segment income, which represents segment income from continuing operations, including any special items and the mark-to-market impacts of economic hedges in the Commercial Portfolio segment.
Due to the forward-looking nature of any forecasted adjusted earnings guidance, information to reconcile this non-GAAP financial measure to the most directly comparable GAAP financial measure is not available at this time, as management is unable to project all special items or mark-to-market adjustments for future periods.
Due to the forward-looking nature of any forecasted adjusted segment income or adjusted Other net expenses and any related growth rates for future periods, information to reconcile these non-GAAP financial measures to the most directly comparable GAAP financial measures is not available at this time, as the company is unable to forecast all special items, the mark-to-market impacts of economic hedges in the Commercial Portfolio segment, or any amounts that may be reported as discontinued operations or extraordinary items for future periods.
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
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Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions and can often be identified by terms and phrases that include "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook" or other similar terminology. Various factors may cause actual results to be materially different than the suggested outcomes within forward-looking statements; accordingly, there is no assurance that such results will be realized. These factors include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of costs and liabilities to comply with federal and state regulations related to coal ash, including amounts for the required closure of certain ash basins, are uncertain and difficult to estimate; the ability to recover eligible costs, including amounts associated with coal ash basin asset retirement obligations and future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 and other nuclear facilities could prove to be more extensive than amounts estimated and all costs may not be fully recoverable through the regulatory process; credit ratings of the company or its subsidiaries may be different from what is expected; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from variations in customer usage patterns, including energy efficiency efforts and use of alternative energy sources, including self-generation and distributed generation technologies; advancements in technology; additional competition in electric markets and continued industry consolidation; political, economic and regulatory uncertainty in Brazil and other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts, earthquakes and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers including direct or indirect effects to the company resulting from an incident that affects the U.S. electric grid or generating resources; the impact on facilities and business from a terrorist attack, cybersecurity threats, data security breaches, and other catastrophic events such as fires, explosions, pandemic health events or other similar occurrences; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings, interest rate fluctuations and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; construction and development risks associated with the completion of Duke Energy and its subsidiaries' capital investment projects, including risks related to financing, obtaining and complying with terms of permits, meeting construction budgets and schedules, and satisfying operating and environmental performance standards, as well as the ability to recover costs from customers in a timely manner or at all; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to reinvest prospective undistributed earnings of foreign subsidiaries or repatriate such earnings on a tax-efficient basis; the expected timing and likelihood of completion of the proposed acquisition of Piedmont Natural Gas Company, Inc. (Piedmont), including the timing, receipt and terms and conditions of any required governmental and regulatory approvals of the proposed acquisition that could reduce anticipated benefits or cause the parties to abandon the acquisition, and under certain specified circumstance pay a termination fee of $250 million, as well as the ability to successfully integrate the businesses and realize anticipated benefits and the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; and the ability to successfully complete future merger, acquisition or divestiture plans.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Forward-looking statements speak only as of the date they are made; Duke Energy expressly disclaims an obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analysts: Bill Currens
Office: 704.382.1603
|
December 2015 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended December 31, |
Year Ended December 31, | ||||||||||||||
|
(In millions, except per-share amounts and where noted) |
2015 |
2014 |
2015 |
2014 | |||||||||||
|
Earnings Per Share - Basic and Diluted |
|||||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.70 |
$ |
0.14 |
$ |
4.02 |
$ |
3.46 |
|||||||
|
Diluted |
$ |
0.70 |
$ |
0.14 |
$ |
4.02 |
$ |
3.46 |
|||||||
|
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
(0.01) |
$ |
— |
$ |
0.03 |
$ |
(0.80) |
|||||||
|
Diluted |
$ |
(0.01) |
$ |
— |
$ |
0.03 |
$ |
(0.80) |
|||||||
|
Net income attributable to Duke Energy Corporation common stockholders |
|||||||||||||||
|
Basic |
$ |
0.69 |
$ |
0.14 |
$ |
4.05 |
$ |
2.66 |
|||||||
|
Diluted |
$ |
0.69 |
$ |
0.14 |
$ |
4.05 |
$ |
2.66 |
|||||||
|
Weighted-average shares outstanding |
|||||||||||||||
|
Basic |
688 |
707 |
694 |
707 |
|||||||||||
|
Diluted |
688 |
707 |
694 |
707 |
|||||||||||
|
SEGMENT INCOME (LOSS) BY BUSINESS SEGMENT |
|||||||||||||||
|
Regulated Utilities(a)(b) |
$ |
582 |
$ |
449 |
$ |
2,893 |
$ |
2,795 |
|||||||
|
International Energy(c) |
68 |
(301) |
225 |
55 |
|||||||||||
|
Commercial Portfolio(d)(e) |
39 |
15 |
4 |
(55) |
|||||||||||
|
Total Reportable Segment Income |
689 |
163 |
3,122 |
2,795 |
|||||||||||
|
Other Net Expense(f)(g)(h) |
(203) |
(65) |
(322) |
(334) |
|||||||||||
|
Intercompany Eliminations |
— |
(3) |
(4) |
(10) |
|||||||||||
|
(Loss) Income from Discontinued Operations, net of tax (i) |
(9) |
2 |
20 |
(568) |
|||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
477 |
$ |
97 |
$ |
2,816 |
$ |
1,883 |
|||||||
|
CAPITALIZATION |
|||||||||||||||
|
Total Common Equity |
48% |
49% |
|||||||||||||
|
Total Debt |
52% |
51% |
|||||||||||||
|
Total Debt |
$ |
43,202 |
$ |
42,382 |
|||||||||||
|
Book Value Per Share |
$ |
57.78 |
$ |
57.82 |
|||||||||||
|
Actual Shares Outstanding |
688 |
707 |
|||||||||||||
|
CAPITAL AND INVESTMENT EXPENDITURES |
|||||||||||||||
|
Regulated Utilities (j) |
$ |
1,762 |
$ |
1,387 |
$ |
6,974 |
$ |
4,744 |
|||||||
|
International Energy |
12 |
27 |
45 |
67 |
|||||||||||
|
Commercial Portfolio |
374 |
231 |
1,131 |
555 |
|||||||||||
|
Other |
47 |
47 |
213 |
162 |
|||||||||||
|
Total Capital and Investment Expenditures |
$ |
2,195 |
$ |
1,692 |
$ |
8,363 |
$ |
5,528 |
|||||||
|
(a) Includes a charge of $58 million related to the Edwardsport settlement for the year ended December 31, 2015 (net of tax of $35 million). | |||||||||||||||
|
(b) Includes a litigation reserve of $102 million for the three months and year ended December 31, 2014, related to the federal grand jury investigation of the February 2014 Dan River coal ash spill and ash basin operations at other North Carolina coal plants. | |||||||||||||||
|
(c) Includes a tax adjustment of $373 million for the three months and year ended December 31, 2014, related to deferred tax impacts resulting from a dividend declaration of International Energy's historical undistributed earnings. | |||||||||||||||
|
(d) Includes a tax charge of $41 million for the year ended December 31, 2015, resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||||||
|
(e) Includes an impairment charge of $59 million for the year ended December 31, 2014, related to OVEC (net of tax of $35 million). | |||||||||||||||
|
(f) Includes a charge of $77 million for the three months and year ended December 31, 2015, related to cost savings initiatives (net of tax of $47 million). | |||||||||||||||
|
(g) Includes costs to achieve mergers of $18 million for the three months ended December 31, 2015 (net of tax of $12 million) and $60 million for the year ended December 31, 2015 (net of tax of $37 million). | |||||||||||||||
|
(h) Includes costs to achieve mergers of $20 million for the three months ended December 31, 2014 (net of tax of $13 million) and $127 million for the year ended December 31, 2014 (net of tax of $78 million). | |||||||||||||||
|
(i) Includes the impact of a settlement agreement related to the nonregulated Midwest generation business of $53 million for the year ended December 31, 2015 (net of tax of $28 million). | |||||||||||||||
|
(j) Includes $1.25 billion related to the NCEMPA acquisition for the year ended December 31, 2015. | |||||||||||||||
|
December 2015 | |||||||||||||||
|
QUARTERLY HIGHLIGHTS | |||||||||||||||
|
(Unaudited) | |||||||||||||||
|
Three Months Ended |
Year Ended | ||||||||||||||
|
December 31, |
December 31, | ||||||||||||||
|
(In millions, except for GWh and MW amounts) |
2015 |
2014 |
2015 |
2014 | |||||||||||
|
REGULATED UTILITIES |
|||||||||||||||
|
Operating Revenues |
$ |
4,972 |
$ |
5,197 |
$ |
22,062 |
$ |
22,271 |
|||||||
|
Operating Expenses(a)(b) |
3,909 |
4,219 |
16,698 |
17,026 |
|||||||||||
|
Gains on Sales of Other Assets, net |
1 |
2 |
11 |
4 |
|||||||||||
|
Operating Income |
1,064 |
980 |
5,375 |
5,249 |
|||||||||||
|
Other Income and Expenses |
75 |
61 |
262 |
267 |
|||||||||||
|
Interest Expense |
268 |
277 |
1,097 |
1,093 |
|||||||||||
|
Income Before Income Taxes |
871 |
764 |
4,540 |
4,423 |
|||||||||||
|
Income Tax Expense(c) |
289 |
315 |
1,647 |
1,628 |
|||||||||||
|
Segment Income |
$ |
582 |
$ |
449 |
$ |
2,893 |
$ |
2,795 |
|||||||
|
Depreciation and Amortization |
$ |
718 |
$ |
684 |
$ |
2,814 |
$ |
2,759 |
|||||||
|
INTERNATIONAL ENERGY |
|||||||||||||||
|
Operating Revenues |
$ |
247 |
$ |
306 |
$ |
1,088 |
$ |
1,417 |
|||||||
|
Operating Expenses |
166 |
247 |
805 |
1,007 |
|||||||||||
|
Gains (Losses) on Sales of Other Assets, net |
7 |
(1) |
6 |
6 |
|||||||||||
|
Operating Income |
88 |
58 |
289 |
416 |
|||||||||||
|
Other Income and Expenses |
32 |
38 |
101 |
190 |
|||||||||||
|
Interest Expense |
19 |
22 |
85 |
93 |
|||||||||||
|
Income Before Income Taxes |
101 |
74 |
305 |
513 |
|||||||||||
|
Income Tax Expense(d) |
30 |
375 |
74 |
449 |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
3 |
— |
6 |
9 |
|||||||||||
|
Segment Income (Loss) |
$ |
68 |
$ |
(301) |
$ |
225 |
$ |
55 |
|||||||
|
Depreciation and Amortization |
$ |
23 |
$ |
23 |
$ |
92 |
$ |
97 |
|||||||
|
Sales, GWh |
5,631 |
4,815 |
19,211 |
18,629 |
|||||||||||
|
Proportional MW Capacity in Operation |
4,333 |
4,340 |
|||||||||||||
|
COMMERCIAL PORTFOLIO |
|||||||||||||||
|
Operating Revenues |
$ |
87 |
$ |
60 |
$ |
301 |
$ |
255 |
|||||||
|
Operating Expenses(e) |
98 |
86 |
353 |
441 |
|||||||||||
|
(Losses) Gains on Sales of Other Assets, net |
(5) |
— |
1 |
— |
|||||||||||
|
Operating Loss |
(16) |
(26) |
(51) |
(186) |
|||||||||||
|
Other Income and Expenses |
9 |
3 |
6 |
18 |
|||||||||||
|
Interest Expense |
11 |
17 |
44 |
58 |
|||||||||||
|
Loss Before Income Taxes |
(18) |
(40) |
(89) |
(226) |
|||||||||||
|
Income Tax Benefit(f)(g) |
(57) |
(55) |
(92) |
(171) |
|||||||||||
|
Less: Loss Attributable to Noncontrolling Interests |
— |
— |
(1) |
— |
|||||||||||
|
Segment Income (Loss) |
$ |
39 |
$ |
15 |
$ |
4 |
$ |
(55) |
|||||||
|
Depreciation and Amortization |
$ |
27 |
$ |
22 |
$ |
104 |
$ |
92 |
|||||||
|
Actual Coal-fired Plant Production, GWh |
— |
— |
— |
867 |
|||||||||||
|
Actual Renewable Plant Production, GWh |
1,664 |
1,350 |
5,577 |
5,462 |
|||||||||||
|
Actual Plant Production, GWh |
1,664 |
1,350 |
5,577 |
6,329 |
|||||||||||
|
Net Proportional MW Capacity in Operation |
1,943 |
1,370 |
|||||||||||||
|
OTHER |
|||||||||||||||
|
Operating Revenues |
$ |
45 |
$ |
26 |
$ |
123 |
$ |
105 |
|||||||
|
Operating Expenses(h)(i)(j) |
205 |
53 |
382 |
322 |
|||||||||||
|
Gains on Sales of Other Assets, net |
1 |
4 |
17 |
6 |
|||||||||||
|
Operating Loss |
(159) |
(23) |
(242) |
(211) |
|||||||||||
|
Other Income and Expenses |
12 |
12 |
20 |
45 |
|||||||||||
|
Interest Expense |
108 |
98 |
393 |
400 |
|||||||||||
|
Loss Before Income Taxes |
(255) |
(109) |
(615) |
(566) |
|||||||||||
|
Income Tax Benefit(k)(l)(m) |
(54) |
(47) |
(303) |
(237) |
|||||||||||
|
Less: Income Attributable to Noncontrolling Interests |
2 |
3 |
10 |
5 |
|||||||||||
|
Segment Net Expense |
$ |
(203) |
$ |
(65) |
$ |
(322) |
$ |
(334) |
|||||||
|
Depreciation and Amortization |
$ |
35 |
$ |
32 |
$ |
134 |
$ |
118 |
|||||||
|
(a) Includes a pretax charge of $93 million for the year ended December 31, 2015, related to the Edwardsport settlement. | |||||||||||||||
|
(b) Includes a litigation reserve of $102 million for the three months and year ended December 31, 2014, related to the federal grand jury investigation of the February 2014 Dan River coal ash spill and ash basin operations at other North Carolina coal plants. | |||||||||||||||
|
(c) Includes a tax benefit of $35 million for the year ended December 31, 2015, related to the Edwardsport settlement. | |||||||||||||||
|
(d) Includes a tax adjustment of $373 million for the three months and year ended December 31, 2014, related to deferred tax impacts resulting from a dividend declaration of International Energy's historical undistributed earnings. | |||||||||||||||
|
(e) Includes a pretax impairment charge of $94 million for the year ended December 31, 2014, related to OVEC. | |||||||||||||||
|
(f) Includes a tax charge of $41 million for the year ended December 31, 2015, resulting from the completion of the sale of the nonregulated Midwest generation business. | |||||||||||||||
|
(g) Includes a tax benefit of $35 million for the year ended December 31, 2014, related to OVEC. | |||||||||||||||
|
(h) Includes a charge of $124 million for the three months and year ended December 31, 2015, related to cost savings initiatives. | |||||||||||||||
|
(i) Includes costs to achieve mergers of $30 million for the three months ended December 31, 2015, and $97 million for the year ended December 31, 2015. | |||||||||||||||
|
(j) Includes costs to achieve mergers of $33 million for the three months ended December 31, 2014, and $198 million for the year ended December 31, 2014. | |||||||||||||||
|
(k) Includes a tax benefit of $47 million for the three months and year ended December 31, 2015, related to cost savings initiatives. | |||||||||||||||
|
(l) Includes a tax benefit related to costs to achieve mergers of $12 million for the three months ended December 31, 2015, and $37 million for the year ended December 31, 2015. | |||||||||||||||
|
(m) Includes a tax benefit related to costs to achieve mergers of $13 million for the three months ended December 31, 2014, and $78 million for the year ended December 31, 2014. | |||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||
|
(Unaudited) | ||||||||||||
|
(In millions, except per-share amounts) | ||||||||||||
|
Years Ended December 31, | ||||||||||||
|
2015 |
2014 |
2013 | ||||||||||
|
Operating Revenues |
||||||||||||
|
Regulated electric |
$ |
21,379 |
$ |
21,550 |
$ |
20,329 |
||||||
|
Nonregulated electric and other |
1,544 |
1,802 |
1,916 |
|||||||||
|
Regulated natural gas |
536 |
573 |
511 |
|||||||||
|
Total operating revenues |
23,459 |
23,925 |
22,756 |
|||||||||
|
Operating Expenses |
||||||||||||
|
Fuel used in electric generation and purchased power - regulated |
7,308 |
7,686 |
7,108 |
|||||||||
|
Fuel used in electric generation and purchased power - nonregulated |
354 |
533 |
540 |
|||||||||
|
Cost of natural gas |
195 |
248 |
224 |
|||||||||
|
Operation, maintenance and other |
5,871 |
5,856 |
5,673 |
|||||||||
|
Depreciation and amortization |
3,144 |
3,066 |
2,668 |
|||||||||
|
Property and other taxes |
1,135 |
1,213 |
1,274 |
|||||||||
|
Impairment charges |
120 |
81 |
399 |
|||||||||
|
Total operating expenses |
18,127 |
18,683 |
17,886 |
|||||||||
|
Gains (Losses) on Sales of Other Assets and Other, net |
35 |
16 |
(16) |
|||||||||
|
Operating Income |
5,367 |
5,258 |
4,854 |
|||||||||
|
Other Income and Expenses |
||||||||||||
|
Equity in earnings of unconsolidated affiliates |
69 |
130 |
122 |
|||||||||
|
Gains on sales of unconsolidated affiliates |
7 |
17 |
100 |
|||||||||
|
Other income and expenses, net |
307 |
351 |
262 |
|||||||||
|
Total other income and expenses |
383 |
498 |
484 |
|||||||||
|
Interest Expense |
1,613 |
1,622 |
1,543 |
|||||||||
|
Income from Continuing Operations before Income Taxes |
4,137 |
4,134 |
3,795 |
|||||||||
|
Income Tax Expense from Continuing Operations |
1,326 |
1,669 |
1,205 |
|||||||||
|
Income from Continuing Operations |
2,811 |
2,465 |
2,590 |
|||||||||
|
Income (Loss) from Discontinued Operations, net of tax |
20 |
(576) |
86 |
|||||||||
|
Net Income |
2,831 |
1,889 |
2,676 |
|||||||||
|
Less: Net Income Attributable to Noncontrolling Interests |
15 |
6 |
11 |
|||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
2,816 |
$ |
1,883 |
$ |
2,665 |
||||||
|
Earnings Per Share - Basic and Diluted |
||||||||||||
|
Income from continuing operations attributable to Duke Energy Corporation common stockholders |
||||||||||||
|
Basic |
$ |
4.02 |
$ |
3.46 |
$ |
3.64 |
||||||
|
Diluted |
$ |
4.02 |
$ |
3.46 |
$ |
3.63 |
||||||
|
Income (Loss) from discontinued operations attributable to Duke Energy Corporation common stockholders |
||||||||||||
|
Basic |
$ |
0.03 |
$ |
(0.80) |
$ |
0.13 |
||||||
|
Diluted |
$ |
0.03 |
$ |
(0.80) |
$ |
0.13 |
||||||
|
Net income attributable to Duke Energy Corporation common stockholders |
||||||||||||
|
Basic |
$ |
4.05 |
$ |
2.66 |
$ |
3.77 |
||||||
|
Diluted |
$ |
4.05 |
$ |
2.66 |
$ |
3.76 |
||||||
|
Weighted-average shares outstanding |
||||||||||||
|
Basic |
694 |
707 |
706 |
|||||||||
|
Diluted |
694 |
707 |
706 |
|||||||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED BALANCE SHEETS | ||||||||
|
(Unaudited) | ||||||||
|
(in million, except per-share amounts) |
December 31, 2015 |
December 31, 2014 | ||||||
|
ASSETS |
||||||||
|
Current Assets |
||||||||
|
Cash and cash equivalents |
$ |
857 |
$ |
2,036 |
||||
|
Receivables (net of allowance for doubtful accounts of $18 at December 31, 2015 and $17 at December 31, 2014) |
703 |
791 |
||||||
|
Restricted receivables of variable interest entities (net of allowance for doubtful accounts of $53 at December 31, 2015 and $51 at December 31, 2014) |
1,748 |
1,973 |
||||||
|
Inventory |
3,810 |
3,459 |
||||||
|
Assets held for sale |
— |
364 |
||||||
|
Regulatory assets |
877 |
1,115 |
||||||
|
Other |
327 |
1,837 |
||||||
|
Total current assets |
8,322 |
11,575 |
||||||
|
Investments and Other Assets |
||||||||
|
Investments in equity method unconsolidated affiliates |
499 |
358 |
||||||
|
Nuclear decommissioning trust funds |
5,825 |
5,546 |
||||||
|
Goodwill |
16,343 |
16,321 |
||||||
|
Assets held for sale |
— |
2,642 |
||||||
|
Other |
3,042 |
3,008 |
||||||
|
Total investments and other assets |
25,709 |
27,875 |
||||||
|
Property, Plant and Equipment |
||||||||
|
Cost |
112,826 |
104,861 |
||||||
|
Accumulated depreciation and amortization |
(37,665) |
(34,824) |
||||||
|
Generation facilities to be retired, net |
548 |
9 |
||||||
|
Net property, plant and equipment |
75,709 |
70,046 |
||||||
|
Regulatory Assets and Deferred Debits |
||||||||
|
Regulatory assets |
11,373 |
11,042 |
||||||
|
Other |
43 |
19 |
||||||
|
Total regulatory assets and deferred debits |
11,416 |
11,061 |
||||||
|
Total Assets |
$ |
121,156 |
$ |
120,557 |
||||
|
LIABILITIES AND EQUITY |
||||||||
|
Current Liabilities |
||||||||
|
Accounts payable |
$ |
2,400 |
$ |
2,271 |
||||
|
Notes payable and commercial paper |
3,633 |
2,514 |
||||||
|
Taxes accrued |
348 |
569 |
||||||
|
Interest accrued |
430 |
418 |
||||||
|
Current maturities of long-term debt |
2,074 |
2,807 |
||||||
|
Liabilities associated with assets held for sale |
— |
262 |
||||||
|
Regulatory liabilities |
400 |
204 |
||||||
|
Other |
2,115 |
2,188 |
||||||
|
Total current liabilities |
11,400 |
11,233 |
||||||
|
Long-term Debt |
37,495 |
37,061 |
||||||
|
Deferred Credits and Other Liabilities |
||||||||
|
Deferred income taxes |
12,705 |
13,423 |
||||||
|
Investment tax credits |
472 |
427 |
||||||
|
Accrued pension and other post-retirement benefit costs |
1,088 |
1,145 |
||||||
|
Liabilities associated with assets held for sale |
— |
35 |
||||||
|
Asset retirement obligations |
10,264 |
8,466 |
||||||
|
Regulatory liabilities |
6,255 |
6,193 |
||||||
|
Other |
1,706 |
1,675 |
||||||
|
Total deferred credits and other liabilities |
32,490 |
31,364 |
||||||
|
Commitments and Contingencies |
||||||||
|
Equity |
||||||||
|
Common stock, $0.001 par value, 2 billion shares authorized; 688 million and 707 million shares outstanding at December 31, 2015 and December 31, 2014, respectively |
1 |
1 |
||||||
|
Additional paid-in capital |
37,968 |
39,405 |
||||||
|
Retained earnings |
2,564 |
2,012 |
||||||
|
Accumulated other comprehensive loss |
(806) |
(543) |
||||||
|
Total Duke Energy Corporation stockholder's equity |
39,727 |
40,875 |
||||||
|
Noncontrolling interests |
44 |
24 |
||||||
|
Total equity |
39,771 |
40,899 |
||||||
|
Total Liabilities and Equity |
$ |
121,156 |
$ |
120,557 |
||||
|
DUKE ENERGY CORPORATION | ||||||||
|
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
|
(Unaudited) | ||||||||
|
(In millions) | ||||||||
|
Years Ended December 31, | ||||||||
|
2015 |
2014 | |||||||
|
CASH FLOWS FROM OPERATING ACTIVITIES |
||||||||
|
Net Income |
$ |
2,831 |
$ |
1,889 |
||||
|
Adjustments to reconcile net income to net cash provided by operating activities |
3,845 |
4,697 |
||||||
|
Net cash provided by operating activities |
6,676 |
6,586 |
||||||
|
CASH FLOWS FROM INVESTING ACTIVITIES |
||||||||
|
Net cash used in investing activities |
(5,277) |
(5,373) |
||||||
|
CASH FLOWS FROM FINANCING ACTIVITIES |
||||||||
|
Net cash used in financing activities |
(2,578) |
(678) |
||||||
|
Net (decrease) increase in cash and cash equivalents |
(1,179) |
535 |
||||||
|
Cash and cash equivalents at the beginning of period |
2,036 |
1,501 |
||||||
|
Cash and cash equivalents at end of period |
$ |
857 |
$ |
2,036 |
||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||
|
EARNINGS VARIANCES | ||||||||||||||||||||
|
December 2015 QTD vs. Prior Year | ||||||||||||||||||||
|
($ per share) |
Regulated Utilities |
International Energy |
Commercial Portfolio |
Other |
Consolidated | |||||||||||||||
|
2014 QTD Reported Earnings Per Share, Diluted |
$ |
0.64 |
$ |
(0.43) |
$ |
0.03 |
$ |
(0.10) |
$ |
0.14 |
||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
0.03 |
0.03 |
|||||||||||||||
|
Midwest Generation Operations (offset in Discontinued Operations) |
— |
— |
0.04 |
— |
0.04 |
|||||||||||||||
|
Litigation Reserve |
0.14 |
— |
— |
— |
0.14 |
|||||||||||||||
|
International Tax Adjustment |
— |
0.53 |
— |
— |
0.53 |
|||||||||||||||
|
Discontinued Operations |
(0.02) |
(0.02) |
||||||||||||||||||
|
2014 QTD Adjusted Earnings Per Share, Diluted |
$ |
0.78 |
$ |
0.10 |
$ |
0.05 |
$ |
(0.07) |
$ |
0.86 |
||||||||||
|
Stock Repurchase (a) |
0.02 |
— |
— |
— |
0.02 |
|||||||||||||||
|
Weather |
(0.12) |
— |
— |
— |
(0.12) |
|||||||||||||||
|
Pricing and Riders (b) |
0.09 |
— |
— |
— |
0.09 |
|||||||||||||||
|
Volumes |
0.04 |
— |
— |
— |
0.04 |
|||||||||||||||
|
Wholesale (c) |
0.05 |
— |
— |
— |
0.05 |
|||||||||||||||
|
Operation and Maintenance, net of recoverables |
0.01 |
— |
— |
— |
0.01 |
|||||||||||||||
|
Latin America, including Foreign Exchange Rates (e) |
— |
0.02 |
— |
— |
0.02 |
|||||||||||||||
|
National Methanol Company |
— |
(0.03) |
— |
— |
(0.03) |
|||||||||||||||
|
Duke Energy Renewables (f) |
— |
— |
0.03 |
— |
0.03 |
|||||||||||||||
|
Midwest Generation (g) |
— |
— |
(0.01) |
— |
(0.01) |
|||||||||||||||
|
Interest Expense |
0.01 |
— |
— |
— |
0.01 |
|||||||||||||||
|
Change in effective tax rates |
0.04 |
— |
— |
(0.07) |
(0.03) |
|||||||||||||||
|
Other (h) |
(0.05) |
0.01 |
(0.01) |
(0.02) |
(0.07) |
|||||||||||||||
|
2015 QTD Adjusted Earnings Per Share, Diluted |
$ |
0.87 |
$ |
0.10 |
$ |
0.06 |
$ |
(0.16) |
0.87 |
|||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
(0.03) |
(0.03) |
|||||||||||||||
|
Cost Savings Initiatives |
(0.02) |
— |
— |
(0.11) |
(0.13) |
|||||||||||||||
|
Ash Basin Settlement and Penalties |
(0.01) |
— |
— |
— |
(0.01) |
|||||||||||||||
|
Discontinued Operations |
(0.01) |
|||||||||||||||||||
|
2015 QTD Reported Earnings Per Share, Diluted |
$ |
0.84 |
$ |
0.10 |
$ |
0.06 |
$ |
(0.30) |
$ |
0.69 |
||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated effective income tax rate. | ||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | ||||||||||||||||||||
|
(a) Due to the decrease in common shares outstanding as a result of stock repurchased and retired under the Accelerated Stock Repurchase Program. Weighted-average diluted shares outstanding decreased from 707 million shares for the three months ended December 31, 2014, to 688 million shares for the three months ended December 31, 2015. | ||||||||||||||||||||
|
(b) Primarily due to higher energy efficiency and other rider recoveries across jurisdictions (+$0.03), equity return on the NCEMPA rider (+$0.02) and fuel and purchased power cost true-ups (+$0.02). | ||||||||||||||||||||
|
(c) Primarily due to the implementation of new contracts, including the new 30-year contract with NCEMPA. | ||||||||||||||||||||
|
(d) Primarily due to lower spending for fossil generation, partially offset by increased costs related to the NCEMPA asset purchase. | ||||||||||||||||||||
|
(e) Primarily due to higher results in Brazil (+$0.04) due to lower purchased power costs and higher results in Ecuador (+$0.01), partially offset by changes in foreign currency exchange rates (-$0.02). | ||||||||||||||||||||
|
(f) Primarily due to tax credits generated by the completion of solar and wind facilities. | ||||||||||||||||||||
|
(g) Due to the sale of the nonregulated Midwest generation business. | ||||||||||||||||||||
|
(h) Amount for Regulated Utilities includes increased depreciation and amortization expense (-$0.05) due to higher depreciable base. | ||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||
|
EARNINGS VARIANCES | ||||||||||||||||||||
|
December 2015 YTD vs. Prior Year | ||||||||||||||||||||
|
($ per share) |
Regulated Utilities |
International Energy |
Commercial Portfolio |
Other |
Consolidated | |||||||||||||||
|
2014 YTD Reported Earnings Per Share, Diluted |
$ |
3.96 |
$ |
0.08 |
$ |
(0.07) |
$ |
(0.49) |
$ |
2.66 |
||||||||||
|
Asset Sales |
— |
— |
— |
(0.01) |
(0.01) |
|||||||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
0.18 |
0.18 |
|||||||||||||||
|
Midwest Generation Operations (offset in Discontinued Operations) |
— |
— |
0.16 |
— |
0.16 |
|||||||||||||||
|
Asset Impairment |
— |
— |
0.08 |
— |
0.08 |
|||||||||||||||
|
Economic Hedges (Mark-to-Market) |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||
|
Litigation Reserve |
0.14 |
— |
— |
— |
0.14 |
|||||||||||||||
|
International Tax Adjustment |
— |
0.53 |
— |
— |
0.53 |
|||||||||||||||
|
Discontinued Operations |
(0.02) |
0.80 |
||||||||||||||||||
|
2014 YTD Adjusted Earnings Per Share, Diluted |
$ |
4.10 |
$ |
0.61 |
$ |
0.16 |
$ |
(0.32) |
$ |
4.55 |
||||||||||
|
Stock Repurchase (a) |
0.08 |
0.01 |
— |
— |
0.09 |
|||||||||||||||
|
Weather |
— |
— |
— |
— |
— |
|||||||||||||||
|
Pricing and Riders (b) |
0.23 |
— |
— |
— |
0.23 |
|||||||||||||||
|
Volumes |
0.07 |
— |
— |
— |
0.07 |
|||||||||||||||
|
Wholesale (c) |
0.16 |
— |
— |
— |
0.16 |
|||||||||||||||
|
Operation and Maintenance, net of recoverables (d) |
(0.18) |
— |
— |
— |
(0.18) |
|||||||||||||||
|
Latin America, including Foreign Exchange Rates (e) |
— |
(0.22) |
— |
— |
(0.22) |
|||||||||||||||
|
National Methanol Company |
— |
(0.07) |
— |
— |
(0.07) |
|||||||||||||||
|
Duke Energy Renewables (f) |
— |
— |
0.01 |
— |
0.01 |
|||||||||||||||
|
Midwest Generation (g) |
— |
— |
0.04 |
— |
0.04 |
|||||||||||||||
|
Interest Expense |
— |
— |
— |
0.01 |
0.01 |
|||||||||||||||
|
Change in effective tax rates |
(0.04) |
— |
— |
0.07 |
0.03 |
|||||||||||||||
|
Other (h) |
(0.14) |
— |
(0.01) |
(0.03) |
(0.18) |
|||||||||||||||
|
2015 YTD Adjusted Earnings Per Share, Diluted |
$ |
4.28 |
$ |
0.33 |
$ |
0.20 |
$ |
(0.27) |
4.54 |
|||||||||||
|
Edwardsport Settlement |
(0.08) |
— |
— |
— |
(0.08) |
|||||||||||||||
|
Costs to Achieve, Mergers |
— |
— |
— |
(0.09) |
(0.09) |
|||||||||||||||
|
Ash Basin Settlement and Penalties |
(0.02) |
— |
— |
— |
(0.02) |
|||||||||||||||
|
Midwest Generation Operations (offset in Discontinued Operations) |
— |
— |
(0.14) |
— |
(0.14) |
|||||||||||||||
|
Cost Savings Initiatives |
(0.01) |
— |
— |
(0.12) |
(0.13) |
|||||||||||||||
|
Discontinued Operations |
(0.06) |
(0.03) |
||||||||||||||||||
|
2015 YTD Reported Earnings Per Share, Diluted |
$ |
4.17 |
$ |
0.33 |
$ |
— |
$ |
(0.48) |
$ |
4.05 |
||||||||||
|
Note 1: Earnings Per Share amounts are calculated using the consolidated effective income tax rate. | ||||||||||||||||||||
|
Note 2: Adjusted and Reported Earnings Per Share amounts by segment may not recompute from other published schedules due to rounding. | ||||||||||||||||||||
|
(a) Due to the decrease in common shares outstanding as a result of stock repurchased and retired under the Accelerated Stock Repurchase Program. Weighted-average diluted shares outstanding decreased from 707 million shares for the year ended December 31, 2014, to 694 million shares for the year ended December 31, 2015. | ||||||||||||||||||||
|
(b) Primarily due to fuel and purchased power cost true-ups (+$0.09), higher energy efficiency and other rider recoveries in most jurisdictions (+$0.05) and the recognition of equity returns on the NCEMPA purchase (+$0.02). | ||||||||||||||||||||
|
(c) Primarily due to the implementation of new contracts, including the new 30-year contract with NCEMPA. | ||||||||||||||||||||
|
(d) Primarily due to an increase in nuclear outage cost levelization, additional costs related to the NCEMPA asset purchase and higher planned fossil generation outage costs, partially offset by lower storm costs. | ||||||||||||||||||||
|
(e) Primarily due to a prior-year tax benefit related to the reorganization of the company's operations in Chile (-$0.07), changes in foreign currency exchange rates (-$0.05), lower results in Brazil due to unfavorable hydrology (-$0.05) and lower results in Central America (-$0.04) due to lower generation and prices from increased competition. | ||||||||||||||||||||
|
(f) Primarily due to tax credits generated by the completion of solar and wind facilities, partially offset by lower wind resources. | ||||||||||||||||||||
|
(g) Primarily due to higher capacity revenues, improved generation margins and the suspension of depreciation as a result of held for sale status prior to the sale of the nonregulated Midwest generation business. | ||||||||||||||||||||
|
(h) Amount for Regulated Utilities includes increased depreciation and amortization expense (-$0.13) due to higher depreciable base and an impairment of the Crystal River Unit 3 regulatory asset (-$0.02), partially offset by higher AFUDC-equity (+$0.04). | ||||||||||||||||||||
|
Regulated Utilities | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWH Sales (1) |
||||||||||||||||||||||||
|
Residential |
17,198 |
18,284 |
(5.9%) |
1.5% |
83,393 |
83,348 |
0.1% |
0.5% |
||||||||||||||||
|
General Service |
18,243 |
18,274 |
(0.2%) |
0.9% |
77,367 |
76,640 |
0.9% |
0.5% |
||||||||||||||||
|
Industrial |
12,827 |
12,799 |
0.2% |
2.1% |
52,197 |
51,772 |
0.8% |
1.0% |
||||||||||||||||
|
Other Energy Sales |
147 |
154 |
(4.5%) |
597 |
609 |
(2.0%) |
||||||||||||||||||
|
Unbilled Sales |
113 |
416 |
(72.8%) |
n/a |
(363) |
(504) |
28.0% |
n/a |
||||||||||||||||
|
Total Retail Sales |
48,528 |
49,927 |
(2.8%) |
1.4% |
213,191 |
211,865 |
0.6% |
0.6% |
||||||||||||||||
|
Special Sales |
9,524 |
8,344 |
14.1% |
38,075 |
35,522 |
7.2% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Regulated Utilities |
58,052 |
58,271 |
(0.4%) |
251,266 |
247,387 |
1.6% |
||||||||||||||||||
|
Average Number of Customers (Electric) |
||||||||||||||||||||||||
|
Residential |
6,394,280 |
6,314,356 |
1.3% |
6,362,549 |
6,281,841 |
1.3% |
||||||||||||||||||
|
General Service |
955,880 |
946,153 |
1.0% |
952,483 |
942,919 |
1.0% |
||||||||||||||||||
|
Industrial |
17,983 |
18,252 |
(1.5%) |
18,107 |
18,299 |
(1.0%) |
||||||||||||||||||
|
Other Energy Sales |
23,119 |
22,896 |
1.0% |
23,049 |
22,658 |
1.7% |
||||||||||||||||||
|
Total Regular Sales |
7,391,262 |
7,301,657 |
1.2% |
7,356,188 |
7,265,717 |
1.2% |
||||||||||||||||||
|
Special Sales |
63 |
61 |
3.3% |
63 |
62 |
1.6% |
||||||||||||||||||
|
Total Average Number of Customers - Regulated Utilities |
7,391,325 |
7,301,718 |
1.2% |
7,356,251 |
7,265,779 |
1.2% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
13,915 |
17,867 |
(22.1)% |
76,348 |
87,148 |
(12.4)% |
||||||||||||||||||
|
Nuclear |
18,541 |
16,570 |
11.9% |
71,121 |
67,809 |
4.9% |
||||||||||||||||||
|
Hydro |
996 |
453 |
119.9% |
2,021 |
2,154 |
(6.2)% |
||||||||||||||||||
|
Oil and Natural Gas |
14,616 |
11,370 |
28.5% |
60,670 |
49,430 |
22.7% |
||||||||||||||||||
|
Renewable Energy |
3 |
2 |
50.0% |
13 |
13 |
—% |
||||||||||||||||||
|
Total Generation (4) |
48,071 |
46,262 |
3.9 |
210,173 |
206,554 |
1.8% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5)(7) |
11,763 |
14,902 |
(21.1)% |
52,845 |
53,550 |
(1.3)% |
||||||||||||||||||
|
Total Sources of Energy |
59,834 |
61,164 |
(2.2)% |
263,018 |
260,104 |
1.1% |
||||||||||||||||||
|
Less: Line Loss and Company Usage (7) |
1,782 |
2,893 |
(38.4)% |
11,752 |
12,717 |
(7.6)% |
||||||||||||||||||
|
Total GWh Sources |
58,052 |
58,271 |
(0.4)% |
251,266 |
247,387 |
1.6% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
50,216 |
49,600 |
||||||||||||||||||||||
|
Winter |
53,484 |
53,191 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
94 |
93 |
||||||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
(7) 2014 amounts have been updated to include Duke Energy Ohio's auction purchases from PJM within Purchased Power and Net Interchange and the associated line loss in Line Loss and Company Usage. | ||||||||||||||||||||||||
|
Regulated Utilities | ||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 |
|||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
2015 |
2014 |
% Inc.(Dec.) |
|||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||
|
Carolinas - Actual |
||||||||||||||||||||||
|
Heating Degree Days |
731 |
1,229 |
(40.5%) |
2,788 |
3,364 |
(17.1%) |
||||||||||||||||
|
Cooling Degree Days |
44 |
56 |
(21.4%) |
1,788 |
1,591 |
12.4% |
||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||
|
Heating Degree Days |
(37.7%) |
4.8% |
n/a |
(7.7%) |
11.2% |
n/a |
||||||||||||||||
|
Cooling Degree Days |
(13.7%) |
14.6% |
n/a |
7.0% |
(4.2%) |
n/a |
||||||||||||||||
|
Midwest - Actual |
||||||||||||||||||||||
|
Heating Degree Days |
1,402 |
2,064 |
(32.1%) |
4,925 |
5,893 |
(16.4%) |
||||||||||||||||
|
Cooling Degree Days |
11 |
10 |
10.0% |
1,093 |
928 |
17.8% |
||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||
|
Heating Degree Days |
(25.9%) |
10.8% |
n/a |
(1.3%) |
18.2% |
n/a |
||||||||||||||||
|
Cooling Degree Days |
(50.0%) |
(52.4%) |
n/a |
(9.3%) |
(21.4%) |
n/a |
||||||||||||||||
|
Florida - Actual |
||||||||||||||||||||||
|
Heating Degree Days |
27 |
233 |
(88.4%) |
400 |
651 |
(38.6%) |
||||||||||||||||
|
Cooling Degree Days |
765 |
409 |
87.0% |
3,742 |
3,111 |
20.3% |
||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||
|
Heating Degree Days |
(86.2%) |
9.9% |
n/a |
(32.6%) |
3.7% |
n/a |
||||||||||||||||
|
Cooling Degree Days |
65.2% |
(9.7%) |
n/a |
17.0% |
(2.5%) |
n/a |
||||||||||||||||
|
Duke Energy Carolinas | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWH Sales (1) |
||||||||||||||||||||||||
|
Residential |
5,471 |
6,039 |
(9.4%) |
27,916 |
27,976 |
(0.2%) |
||||||||||||||||||
|
General Service |
6,626 |
6,736 |
(1.6%) |
28,700 |
28,421 |
1.0% |
||||||||||||||||||
|
Industrial |
5,406 |
5,347 |
1.1% |
22,136 |
21,577 |
2.6% |
||||||||||||||||||
|
Other Energy Sales |
76 |
77 |
(1.3%) |
305 |
303 |
0.7% |
||||||||||||||||||
|
Unbilled Sales |
579 |
168 |
244.6% |
(114) |
(324) |
64.8% |
||||||||||||||||||
|
Total Regular Electric Sales |
18,158 |
18,367 |
(1.1%) |
4.6% |
78,943 |
77,953 |
1.3% |
1.4% |
||||||||||||||||
|
Special Sales |
1,706 |
1,928 |
(11.5%) |
8,432 |
9,692 |
(13.0%) |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Carolinas |
19,864 |
20,295 |
(2.1%) |
87,375 |
87,645 |
(0.3%) |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
2,128,724 |
2,100,086 |
1.4% |
2,117,482 |
2,089,299 |
1.3% |
||||||||||||||||||
|
General Service |
346,378 |
342,725 |
1.1% |
345,119 |
341,616 |
1.0% |
||||||||||||||||||
|
Industrial |
6,337 |
6,505 |
(2.6%) |
6,417 |
6,519 |
(1.6%) |
||||||||||||||||||
|
Other Energy Sales |
15,123 |
14,921 |
1.4% |
15,041 |
14,693 |
2.4% |
||||||||||||||||||
|
Total Regular Sales |
2,496,562 |
2,464,237 |
1.3% |
2,484,059 |
2,452,127 |
1.3% |
||||||||||||||||||
|
Special Sales |
24 |
26 |
(7.7%) |
25 |
26 |
(3.8%) |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Carolinas |
2,496,586 |
2,464,263 |
1.3% |
2,484,084 |
2,452,153 |
1.3% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
3,769 |
5,912 |
(36.2%) |
25,896 |
31,596 |
(18.0%) |
||||||||||||||||||
|
Nuclear |
10,903 |
9,671 |
12.7% |
45,013 |
42,381 |
6.2% |
||||||||||||||||||
|
Hydro |
700 |
246 |
184.6% |
1,136 |
1,185 |
(4.1%) |
||||||||||||||||||
|
Oil and Natural Gas |
2,659 |
1,849 |
43.8% |
10,595 |
7,878 |
34.5% |
||||||||||||||||||
|
Renewable Energy |
3 |
2 |
50.0% |
13 |
13 |
—% |
||||||||||||||||||
|
Total Generation (4) |
18,034 |
17,680 |
2.0% |
82,653 |
83,053 |
(0.5%) |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
2,182 |
3,718 |
(41.3%) |
9,170 |
9,602 |
(4.5%) |
||||||||||||||||||
|
Total Sources of Energy |
20,216 |
21,398 |
(5.5%) |
91,823 |
92,655 |
(0.9%) |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
352 |
1,103 |
(68.1%) |
4,448 |
5,010 |
(11.2%) |
||||||||||||||||||
|
Total GWh Sources |
19,864 |
20,295 |
(2.1%) |
87,375 |
87,645 |
(0.3%) |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
19,645 |
19,589 |
||||||||||||||||||||||
|
Winter |
20,360 |
20,550 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
96 |
92 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
813 |
1,282 |
(36.6%) |
2,922 |
3,517 |
(16.9%) |
||||||||||||||||||
|
Cooling Degree Days |
22 |
44 |
(50.0%) |
1,731 |
1,485 |
16.6% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(34.2%) |
3.9% |
n/a |
(7.6%) |
11.3% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
(46.3%) |
15.8% |
n/a |
8.4% |
(6.1%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Progress | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWH Sales (1) |
||||||||||||||||||||||||
|
Residential |
3,407 |
3,926 |
(13.2%) |
17,954 |
18,201 |
(1.4%) |
||||||||||||||||||
|
General Service |
3,529 |
3,618 |
(2.5%) |
15,529 |
15,385 |
0.9% |
||||||||||||||||||
|
Industrial |
2,498 |
2,505 |
(0.3%) |
10,288 |
10,321 |
(0.3%) |
||||||||||||||||||
|
Other Energy Sales |
25 |
29 |
(13.8%) |
106 |
117 |
(9.4%) |
||||||||||||||||||
|
Unbilled Sales |
50 |
359 |
(86.1%) |
(302) |
41 |
(836.6%) |
||||||||||||||||||
|
Total Regular Electric Sales |
9,509 |
10,437 |
(8.9%) |
0.7% |
% |
43,575 |
44,065 |
(1.1%) |
0.1% |
|||||||||||||||
|
Special Sales |
5,372 |
5,040 |
6.6% |
21,306 |
18,806 |
13.3% |
||||||||||||||||||
|
Total Consolidated Electric Sales - Duke Energy Progress |
14,881 |
15,477 |
(3.9%) |
64,881 |
62,871 |
3.2% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,280,852 |
1,264,131 |
1.3% |
1,274,550 |
1,257,007 |
1.4% |
||||||||||||||||||
|
General Service |
227,233 |
224,209 |
1.3% |
226,099 |
223,287 |
1.3% |
||||||||||||||||||
|
Industrial |
4,174 |
4,253 |
(1.9%) |
4,209 |
4,272 |
(1.5%) |
||||||||||||||||||
|
Other Energy Sales |
1,648 |
1,696 |
(2.8%) |
1,677 |
1,721 |
(2.6%) |
||||||||||||||||||
|
Total Regular Sales |
1,513,907 |
1,494,289 |
1.3% |
1,506,535 |
1,486,287 |
1.4% |
||||||||||||||||||
|
Special Sales |
15 |
15 |
—% |
15 |
15 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Progress |
1,513,922 |
1,494,304 |
1.3% |
1,506,550 |
1,486,302 |
1.4% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
1,506 |
3,808 |
(60.5%) |
12,960 |
15,882 |
(18.4%) |
||||||||||||||||||
|
Nuclear |
7,638 |
6,899 |
10.7% |
26,108 |
25,428 |
2.7% |
||||||||||||||||||
|
Hydro |
193 |
109 |
77.1% |
582 |
669 |
(13.0%) |
||||||||||||||||||
|
Oil and Natural Gas |
5,020 |
4,226 |
18.8% |
22,203 |
17,591 |
26.2% |
||||||||||||||||||
|
Total Generation (4) |
14,357 |
15,042 |
(4.6%) |
61,853 |
59,570 |
3.8% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,022 |
1,115 |
(8.3%) |
5,649 |
5,956 |
(5.2%) |
||||||||||||||||||
|
Total Sources of Energy |
15,379 |
16,157 |
(4.8%) |
67,502 |
65,526 |
3.0% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
498 |
680 |
(26.8%) |
2,621 |
2,655 |
(1.3%) |
||||||||||||||||||
|
Total GWh Sources |
14,881 |
15,477 |
(3.9%) |
64,881 |
62,871 |
3.2% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
12,915 |
12,221 |
||||||||||||||||||||||
|
Winter |
14,019 |
13,334 |
||||||||||||||||||||||
|
Nuclear Capacity Factor (%) (6) |
91 |
95 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
650 |
1,176 |
(44.7%) |
2,654 |
3,210 |
(17.3%) |
||||||||||||||||||
|
Cooling Degree Days |
65 |
67 |
(3.0%) |
1,844 |
1,696 |
8.7% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(41.5%) |
5.7% |
n/a |
(7.8%) |
11.2% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
4.8% |
11.9% |
n/a |
5.8% |
(2.3%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) Statistics reflect 100% of jointly owned stations. | ||||||||||||||||||||||||
|
Duke Energy Florida | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWH Sales (1) |
||||||||||||||||||||||||
|
Residential |
4,732 |
4,349 |
8.8% |
19,932 |
19,003 |
4.9% |
||||||||||||||||||
|
General Service |
3,903 |
3,675 |
6.2% |
15,304 |
14,945 |
2.4% |
||||||||||||||||||
|
Industrial |
851 |
823 |
3.4% |
3,293 |
3,267 |
0.8% |
||||||||||||||||||
|
Other Energy Sales |
6 |
7 |
(14.3%) |
24 |
25 |
(4.0%) |
||||||||||||||||||
|
Unbilled Sales |
(463) |
(427) |
(8.4%) |
104 |
34 |
205.9% |
||||||||||||||||||
|
Total Regular Electric Sales |
9,029 |
8,427 |
7.1% |
3.3% |
38,657 |
37,274 |
3.7% |
1.6% |
||||||||||||||||
|
Special Sales |
236 |
225 |
4.9% |
1,396 |
1,429 |
(2.3%) |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Florida |
9,265 |
8,652 |
7.1% |
40,053 |
38,703 |
3.5% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
1,533,247 |
1,510,309 |
1.5% |
1,524,320 |
1,500,729 |
1.6% |
||||||||||||||||||
|
General Service |
194,265 |
191,876 |
1.2% |
193,437 |
191,142 |
1.2% |
||||||||||||||||||
|
Industrial |
2,227 |
2,261 |
(1.5%) |
2,244 |
2,275 |
(1.4%) |
||||||||||||||||||
|
Other Energy Sales |
1,534 |
1,547 |
(0.8%) |
1,537 |
1,551 |
(0.9%) |
||||||||||||||||||
|
Total Regular Sales |
1,731,273 |
1,705,993 |
1.5% |
1,721,538 |
1,695,697 |
1.5% |
||||||||||||||||||
|
Special Sales |
14 |
12 |
16.7% |
14 |
14 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Florida |
1,731,287 |
1,706,005 |
1.5% |
1,721,552 |
1,695,711 |
1.5% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
1,612 |
2,517 |
(36.0%) |
9,718 |
11,729 |
(17.1%) |
||||||||||||||||||
|
Oil and Natural Gas |
6,135 |
5,017 |
22.3% |
25,263 |
23,030 |
9.7% |
||||||||||||||||||
|
Total Generation (4) |
7,747 |
7,534 |
2.8% |
34,981 |
34,759 |
0.6% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,937 |
1,544 |
25.5% |
7,217 |
6,133 |
17.7% |
||||||||||||||||||
|
Total Sources of Energy |
9,684 |
9,078 |
6.7% |
42,198 |
40,892 |
3.2% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
419 |
426 |
(1.6%) |
2,145 |
2,189 |
(2.0%) |
||||||||||||||||||
|
Total GWh Sources |
9,265 |
8,652 |
7.1% |
40,053 |
38,703 |
3.5% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
9,101 |
9,072 |
||||||||||||||||||||||
|
Winter |
10,070 |
10,109 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
27 |
233 |
(88.4%) |
400 |
651 |
(38.6%) |
||||||||||||||||||
|
Cooling Degree Days |
765 |
409 |
87.0% |
3,742 |
3,111 |
20.3% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(86.2%) |
9.9% |
n/a |
(32.6%) |
3.7% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
65.2% |
(9.7%) |
n/a |
17.0% |
(2.5%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWH Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,747 |
1,907 |
(8.4%) |
8,638 |
8,831 |
(2.2%) |
||||||||||||||||||
|
General Service |
2,231 |
2,253 |
(1.0%) |
9,512 |
9,526 |
(0.1%) |
||||||||||||||||||
|
Industrial |
1,481 |
1,462 |
1.3% |
5,988 |
5,963 |
0.4% |
||||||||||||||||||
|
Other Energy Sales |
27 |
27 |
—% |
109 |
111 |
(1.8%) |
||||||||||||||||||
|
Unbilled Sales |
(44) |
160 |
(127.5%) |
(52) |
(82) |
36.6% |
||||||||||||||||||
|
Total Regular Electric Sales |
5,442 |
5,809 |
(6.3%) |
(1.3%) |
24,195 |
24,349 |
(0.6%) |
(0.3%) |
||||||||||||||||
|
Special Sales |
299 |
158 |
89.2% |
1,244 |
386 |
222.3% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Ohio |
5,741 |
5,967 |
(3.8%) |
25,439 |
24,735 |
2.8% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
748,478 |
743,251 |
0.7% |
746,757 |
741,800 |
0.7% |
||||||||||||||||||
|
General Service |
87,298 |
86,881 |
0.5% |
87,227 |
86,522 |
0.8% |
||||||||||||||||||
|
Industrial |
2,530 |
2,534 |
(0.2%) |
2,530 |
2,525 |
0.2% |
||||||||||||||||||
|
Other Energy Sales |
3,231 |
3,191 |
1.3% |
3,220 |
3,179 |
1.3% |
||||||||||||||||||
|
Total Regular Sales |
841,537 |
835,857 |
0.7% |
839,734 |
834,026 |
0.7% |
||||||||||||||||||
|
Special Sales |
1 |
1 |
—% |
1 |
1 |
—% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Ohio |
841,538 |
835,858 |
0.7% |
839,735 |
834,027 |
0.7% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
949 |
1,080 |
(12.1%) |
4,402 |
3,041 |
44.8% |
||||||||||||||||||
|
Oil and Natural Gas |
10 |
— |
100.0% |
53 |
16 |
231.3% |
||||||||||||||||||
|
Total Generation (4) |
959 |
1,080 |
(11.2%) |
4,455 |
3,057 |
45.7% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5)(6) |
4,934 |
5,269 |
(6.4%) |
22,280 |
23,355 |
(4.6%) |
||||||||||||||||||
|
Total Sources of Energy |
5,893 |
6,349 |
(7.2%) |
26,735 |
26,412 |
1.2% |
||||||||||||||||||
|
Less: Line Loss and Company Usage (6) |
152 |
382 |
(60.2%) |
1,296 |
1,677 |
(22.7%) |
||||||||||||||||||
|
Total GWh Sources |
5,741 |
5,967 |
(3.8%) |
25,439 |
24,735 |
2.8% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
1,062 |
1,225 |
||||||||||||||||||||||
|
Winter |
1,164 |
1,327 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,316 |
1,927 |
(31.7%) |
4,647 |
5,455 |
(14.8%) |
||||||||||||||||||
|
Cooling Degree Days |
15 |
13 |
15.4% |
1,109 |
1,024 |
8.3% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(28.0%) |
6.6% |
n/a |
(3.6%) |
13.1% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
(31.8%) |
(35.0%) |
n/a |
(7.9%) |
(13.1%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
(6) 2014 amounts have been updated to include Duke Energy Ohio's auction purchases from PJM within Purchased Power and Net Interchange and the associated line loss in Line Loss and Company Usage. | ||||||||||||||||||||||||
|
Duke Energy Ohio | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Gas Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
MCF Sales (1) |
||||||||||||||||||||||||
|
Residential |
6,285,290 |
9,686,129 |
(35.1%) |
35,272,072 |
41,040,532 |
(14.1%) |
||||||||||||||||||
|
General Service |
4,356,384 |
6,205,202 |
(29.8%) |
22,820,237 |
25,541,023 |
(10.7%) |
||||||||||||||||||
|
Industrial |
1,557,468 |
1,953,376 |
(20.3%) |
7,161,750 |
7,379,010 |
(2.9%) |
||||||||||||||||||
|
Other Energy Sales |
4,843,752 |
5,430,602 |
(10.8%) |
20,037,755 |
21,047,330 |
(4.8%) |
||||||||||||||||||
|
Unbilled Sales |
2,453,000 |
3,295,000 |
(25.6%) |
(768,000) |
(1,732,000) |
55.7% |
||||||||||||||||||
|
Total Gas Sales - Duke Energy Ohio |
19,495,894 |
26,570,309 |
(26.6%) |
(6.9%) |
84,523,814 |
93,275,895 |
(9.4%) |
(2.4%) |
||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
475,254 |
473,956 |
0.3% |
474,842 |
472,940 |
0.4% |
||||||||||||||||||
|
General Service |
43,378 |
43,648 |
(0.6%) |
43,253 |
43,446 |
(0.4%) |
||||||||||||||||||
|
Industrial |
1,627 |
1,631 |
(0.2%) |
1,619 |
1,629 |
(0.6%) |
||||||||||||||||||
|
Other Energy Sales |
142 |
145 |
(2.1%) |
142 |
152 |
(6.6%) |
||||||||||||||||||
|
Total Average Number of Gas Customers - Duke Energy Ohio |
520,401 |
519,380 |
0.2% |
519,856 |
518,167 |
0.3% |
||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,316 |
1,927 |
(31.7%) |
4,647 |
5,455 |
(14.8%) |
||||||||||||||||||
|
Cooling Degree Days |
15 |
13 |
15.4% |
1,109 |
1,024 |
8.3% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(28.0%) |
6.6% |
n/a |
(3.6%) |
13.1% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
(31.8%) |
(35.0%) |
n/a |
(7.9%) |
(13.1%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
Duke Energy Indiana | ||||||||||||||||||||||||
|
Quarterly Highlights | ||||||||||||||||||||||||
|
Supplemental Regulated Utilities Electric Information | ||||||||||||||||||||||||
|
December 2015 | ||||||||||||||||||||||||
|
Three Months Ended December 31 |
Year Ended December 31 | |||||||||||||||||||||||
|
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) |
2015 |
2014 |
% Inc.(Dec.) |
% Inc.(Dec.) Weather Normal (2) | |||||||||||||||||
|
GWH Sales (1) |
||||||||||||||||||||||||
|
Residential |
1,841 |
2,063 |
(10.8%) |
8,953 |
9,337 |
(4.1%) |
||||||||||||||||||
|
General Service |
1,954 |
1,992 |
(1.9%) |
8,322 |
8,363 |
(0.5%) |
||||||||||||||||||
|
Industrial |
2,591 |
2,662 |
(2.7%) |
10,492 |
10,644 |
(1.4%) |
||||||||||||||||||
|
Other Energy Sales |
13 |
14 |
(7.1%) |
53 |
53 |
—% |
||||||||||||||||||
|
Unbilled Sales |
(9) |
156 |
(105.8%) |
1 |
(173) |
100.6% |
||||||||||||||||||
|
Total Regular Electric Sales |
6,390 |
6,887 |
(7.2%) |
(4.2%) |
27,821 |
28,224 |
(1.4%) |
(1.1%) |
||||||||||||||||
|
Special Sales |
1,911 |
993 |
92.4% |
5,697 |
5,209 |
9.4% |
||||||||||||||||||
|
Total Electric Sales - Duke Energy Indiana |
8,301 |
7,880 |
5.3% |
33,518 |
33,433 |
0.3% |
||||||||||||||||||
|
Average Number of Customers |
||||||||||||||||||||||||
|
Residential |
702,979 |
696,579 |
0.9% |
699,440 |
693,006 |
0.9% |
||||||||||||||||||
|
General Service |
100,706 |
100,462 |
0.2% |
100,601 |
100,352 |
0.2% |
||||||||||||||||||
|
Industrial |
2,715 |
2,699 |
0.6% |
2,707 |
2,708 |
—% |
||||||||||||||||||
|
Other Energy Sales |
1,583 |
1,541 |
2.7% |
1,574 |
1,514 |
4.0% |
||||||||||||||||||
|
Total Regular Sales |
807,983 |
801,281 |
0.8% |
804,322 |
797,580 |
0.8% |
||||||||||||||||||
|
Special Sales |
9 |
7 |
28.6% |
8 |
6 |
33.3% |
||||||||||||||||||
|
Total Average Number of Customers - Duke Energy Indiana |
807,992 |
801,288 |
0.8% |
804,330 |
797,586 |
0.8% |
||||||||||||||||||
|
Sources of Electric Energy (GWh) |
||||||||||||||||||||||||
|
Generated - Net Output (3) |
||||||||||||||||||||||||
|
Coal |
6,079 |
4,550 |
33.6% |
23,372 |
24,900 |
(6.1%) |
||||||||||||||||||
|
Hydro |
103 |
98 |
5.1% |
303 |
300 |
1.0% |
||||||||||||||||||
|
Oil and Natural Gas |
792 |
278 |
184.9% |
2,556 |
915 |
179.3% |
||||||||||||||||||
|
Total Generation (4) |
6,974 |
4,926 |
41.6% |
26,231 |
26,115 |
0.4% |
||||||||||||||||||
|
Purchased Power and Net Interchange (5) |
1,688 |
3,256 |
(48.2%) |
8,529 |
8,504 |
0.3% |
||||||||||||||||||
|
Total Sources of Energy |
8,662 |
8,182 |
5.9% |
34,760 |
34,619 |
0.4% |
||||||||||||||||||
|
Less: Line Loss and Company Usage |
361 |
302 |
19.5% |
1,242 |
1,186 |
4.7% |
||||||||||||||||||
|
Total GWh Sources |
8,301 |
7,880 |
5.3% |
33,518 |
33,433 |
0.3% |
||||||||||||||||||
|
Owned MW Capacity (3) |
||||||||||||||||||||||||
|
Summer |
7,493 |
7,493 |
||||||||||||||||||||||
|
Winter |
7,871 |
7,871 |
||||||||||||||||||||||
|
Heating and Cooling Degree Days |
||||||||||||||||||||||||
|
Actual |
||||||||||||||||||||||||
|
Heating Degree Days |
1,487 |
2,200 |
(32.4%) |
5,202 |
6,330 |
(17.8%) |
||||||||||||||||||
|
Cooling Degree Days |
6 |
7 |
(14.3%) |
1,076 |
832 |
29.3% |
||||||||||||||||||
|
Variance from Normal |
||||||||||||||||||||||||
|
Heating Degree Days |
(24.0%) |
14.7% |
n/a |
0.8% |
23.1% |
n/a |
||||||||||||||||||
|
Cooling Degree Days |
(73.9%) |
(66.7%) |
n/a |
(10.7%) |
(29.7%) |
n/a |
||||||||||||||||||
|
(1) Except as indicated in footnote (2), represents non-weather normalized billed sales, with energy delivered but not yet billed (i.e. unbilled sales) reflected as a single amount and not allocated to the respective retail classes. | ||||||||||||||||||||||||
|
(2) Represents weather normal total retail calendar sales (i.e. billed and unbilled sales). | ||||||||||||||||||||||||
|
(3) Statistics reflect Duke Energy's ownership share of jointly owned stations. | ||||||||||||||||||||||||
|
(4) Generation by source is reported net of auxiliary power. | ||||||||||||||||||||||||
|
(5) Purchased power includes renewable energy purchases. | ||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||||||
|
ADJUSTED TO REPORTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||||||||||||||
|
Three Months Ended December 31, 2015 | ||||||||||||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||||||
|
Adjusted Earnings |
Costs to Achieve, Mergers |
Edwardsport Settlement |
Cost Savings Initiatives |
Ash Basin Settlement and Penalties |
Economic Hedges (Mark-to-Market) |
Discontinued Operations |
Total Adjustments |
Reported Earnings | ||||||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
601 |
$ |
— |
$ |
(2) |
B |
$ |
(10) |
C |
$ |
(7) |
F |
$ |
— |
$ |
— |
$ |
(19) |
$ |
582 |
|||||||||||||||
|
International Energy |
68 |
— |
— |
— |
— |
— |
— |
— |
68 |
|||||||||||||||||||||||||||
|
Commercial Portfolio |
41 |
— |
— |
(1) |
D |
— |
(1) |
G |
— |
(2) |
39 |
|||||||||||||||||||||||||
|
Total Reportable Segment Income |
710 |
— |
(2) |
(11) |
(7) |
(1) |
— |
(21) |
689 |
|||||||||||||||||||||||||||
|
Other |
(108) |
(18) |
A |
— |
(77) |
E |
— |
— |
— |
(95) |
(203) |
|||||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
602 |
(18) |
(2) |
(88) |
(7) |
(1) |
— |
(116) |
486 |
|||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
— |
— |
— |
(9) |
H |
(9) |
(9) |
||||||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
602 |
$ |
(18) |
$ |
(2) |
$ |
(88) |
$ |
(7) |
$ |
(1) |
$ |
(9) |
$ |
(125) |
$ |
477 |
||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
0.87 |
$ |
(0.03) |
$ |
— |
$ |
(0.13) |
$ |
(0.01) |
$ |
— |
$ |
(0.01) |
$ |
(0.18) |
$ |
0.69 |
||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
0.87 |
$ |
(0.03) |
$ |
— |
$ |
(0.13) |
$ |
(0.01) |
$ |
— |
$ |
(0.01) |
$ |
(0.18) |
$ |
0.69 |
||||||||||||||||||
|
A - Net of $12 million tax benefit. Recorded within Operating Expenses on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
B - Net of $1 million tax benefit. $3 million recorded within Impairment charges on the Duke Energy Indiana Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
C - Net of $6 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. Includes $7 million at Duke Energy Carolinas, $4 million at Duke Energy Progress, $2 million at Duke Energy Florida, $1 million at Duke Energy Ohio and $2 million at Duke Energy Indiana. | ||||||||||||||||||||||||||||||||||||
|
D - Net of $1 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
E - Net of $47 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
F - Recorded within Operation, maintenance and other on the Duke Energy Carolinas Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
G - Recorded within Operating Revenues on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
H - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||||||||||||||||||||||||||
|
Basic 688 | ||||||||||||||||||||||||||||||||||||
|
Diluted 688 | ||||||||||||||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||||||
|
ADJUSTED TO REPORTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||||||||||||||
|
Twelve Months Ended December 31, 2015 | ||||||||||||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||||||
|
Adjusted Earnings |
Costs to Achieve, Mergers |
Edwardsport Settlement |
Midwest Generation Operations |
Ash Basin Settlement and Penalties |
Cost Savings Initiatives |
Discontinued Operations |
Total Adjustments |
Reported Earnings | ||||||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
2,972 |
$ |
— |
$ |
(58) |
B |
$ |
— |
$ |
(11) |
D |
$ |
(10) |
E |
$ |
— |
$ |
(79) |
$ |
2,893 |
|||||||||||||||
|
International Energy |
225 |
— |
— |
— |
— |
— |
— |
— |
225 |
|||||||||||||||||||||||||||
|
Commercial Portfolio |
140 |
— |
— |
(94) |
C |
— |
(1) |
F |
(41) |
H |
(136) |
4 |
||||||||||||||||||||||||
|
Total Reportable Segment Income |
3,337 |
— |
(58) |
(94) |
(11) |
(11) |
(41) |
(215) |
3,122 |
|||||||||||||||||||||||||||
|
Other |
(185) |
(60) |
A |
— |
— |
— |
(77) |
G |
— |
(137) |
(322) |
|||||||||||||||||||||||||
|
Intercompany Eliminations |
— |
— |
— |
— |
— |
— |
(4) |
I |
(4) |
(4) |
||||||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
3,152 |
(60) |
(58) |
(94) |
(11) |
(88) |
(45) |
(356) |
2,796 |
|||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
94 |
C |
— |
— |
(74) |
J |
20 |
20 |
|||||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
3,152 |
$ |
(60) |
$ |
(58) |
$ |
— |
$ |
(11) |
$ |
(88) |
$ |
(119) |
$ |
(336) |
$ |
2,816 |
||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
4.54 |
$ |
(0.09) |
$ |
(0.08) |
$ |
— |
$ |
(0.02) |
$ |
(0.13) |
$ |
(0.17) |
$ |
(0.49) |
$ |
4.05 |
||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
4.54 |
$ |
(0.09) |
$ |
(0.08) |
$ |
— |
$ |
(0.02) |
$ |
(0.13) |
$ |
(0.17) |
$ |
(0.49) |
$ |
4.05 |
||||||||||||||||||
|
A - Net of $37 million tax benefit. Recorded within Operating Expenses and Interest Expenses on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
B - Net of $35 million tax benefit. $88 million recorded within Impairment charges and $5 million recorded within Other income and expenses, net on the Duke Energy Indiana Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
C - Operating results of the nonregulated Midwest generation business that had been classified from discontinued operations after adjustment for special items and economic hedges (net of $53 million tax benefit). | ||||||||||||||||||||||||||||||||||||
|
D - Net of $3 million tax benefit. Recorded within Operation, maintenance and other on the Consolidated Statements of Operations. Includes $8 million and $6 million at Duke Energy Carolinas and Duke Energy Progress, respectively. | ||||||||||||||||||||||||||||||||||||
|
E - Net of $6 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. Includes $7 million at Duke Energy Carolinas, $4 million at Duke Energy Progress, $2 million at Duke Energy Florida, $1 million at Duke Energy Ohio and $2 million at Duke Energy Indiana. | ||||||||||||||||||||||||||||||||||||
|
F - Net of $1 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
G - Net of $47 million tax benefit. Primarily consists of severance costs recorded within Operation, maintenance and other on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||
|
H - State tax expense resulting from the completion of the sale of the nonregulated Midwest generation business. | ||||||||||||||||||||||||||||||||||||
|
I - Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | ||||||||||||||||||||||||||||||||||||
|
J - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations, and includes the impact of a litigation reserve related to the nonregulated Midwest generation business. | ||||||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||||||||||||||||||||||||||
|
Basic 694 | ||||||||||||||||||||||||||||||||||||
|
Diluted 694 | ||||||||||||||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||
|
ADJUSTED TO REPORTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||||||||||
|
Three Months Ended December 31, 2014 | ||||||||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||
|
Adjusted Earnings |
Costs to Achieve, Progress Merger |
Midwest Generation Operations |
Litigation Reserve |
International Tax Adjustment |
Discontinued Operations |
Total Adjustments |
Reported Earnings | |||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
551 |
$ |
— |
$ |
— |
$ |
(102) |
G |
$ |
— |
$ |
— |
$ |
(102) |
$ |
449 |
|||||||||||||||
|
International Energy |
72 |
— |
— |
— |
(373) |
D |
— |
(373) |
(301) |
|||||||||||||||||||||||
|
Commercial Portfolio |
32 |
— |
(32) |
B |
— |
— |
15 |
F |
(17) |
15 |
||||||||||||||||||||||
|
Total Reportable Segment Income |
655 |
— |
(32) |
(102) |
(373) |
15 |
(492) |
163 |
||||||||||||||||||||||||
|
Other |
(45) |
(20) |
A |
— |
— |
— |
— |
(20) |
(65) |
|||||||||||||||||||||||
|
Intercompany Eliminations |
— |
— |
— |
— |
— |
(3) |
E |
(3) |
(3) |
|||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
610 |
(20) |
(32) |
(102) |
(373) |
12 |
(515) |
95 |
||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
32 |
B |
— |
— |
(30) |
C |
2 |
2 |
||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
610 |
$ |
(20) |
$ |
— |
$ |
(102) |
$ |
(373) |
$ |
(18) |
$ |
(513) |
$ |
97 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
0.86 |
$ |
(0.03) |
$ |
— |
$ |
(0.14) |
$ |
(0.53) |
$ |
(0.02) |
$ |
(0.72) |
$ |
0.14 |
||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
0.86 |
$ |
(0.03) |
$ |
— |
$ |
(0.14) |
$ |
(0.53) |
$ |
(0.02) |
$ |
(0.72) |
$ |
0.14 |
||||||||||||||||
|
A - Net of $13 million tax benefit. $33 million recorded in Operating Expenses on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
B - Midwest Generation Operations reclassifies the operating results of the nonregulated Midwest generation business that had been classified as discontinued operations after adjustment for special items and economic hedges from discontinued operations to the Commercial Power segment (net of $20 million tax benefit). | ||||||||||||||||||||||||||||||||
|
C - Recorded in Income (loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations. Includes the adjustment to the impairment of the nonregulated Midwest generation business, the mark-to-market of economic hedges of the nonregulated Midwest generation business, and certain costs associated with a contract settlement. | ||||||||||||||||||||||||||||||||
|
D - Deferred tax impact resulting from the decision to repatriate International Energy's historic undistributed foreign earnings, included within Income Tax Expense on the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||||||
|
E - Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | ||||||||||||||||||||||||||||||||
|
F - State tax benefit resulting from the planned disposition of the nonregulated Midwest generation business. | ||||||||||||||||||||||||||||||||
|
G - Recorded within Operating, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||||||||||||||||||||||
|
Basic 707 | ||||||||||||||||||||||||||||||||
|
Diluted 707 | ||||||||||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||||||||||||||||||||||||||||||
|
ADJUSTED TO REPORTED EARNINGS RECONCILIATION | ||||||||||||||||||||||||||||||||||||||||||||
|
Twelve Months Ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||
|
(Dollars in millions, except per-share amounts) | ||||||||||||||||||||||||||||||||||||||||||||
|
Special Items |
||||||||||||||||||||||||||||||||||||||||||||
|
Adjusted Earnings |
Costs to Achieve, Progress Merger |
Asset Impairment |
Midwest Generation Operations |
Litigation Reserve |
Asset Sales |
International Tax Adjustment |
Economic Hedges (Mark-to-Market) * |
Discontinued Operations |
Total Adjustments |
Reported Earnings | ||||||||||||||||||||||||||||||||||
|
SEGMENT INCOME |
||||||||||||||||||||||||||||||||||||||||||||
|
Regulated Utilities |
$ |
2,897 |
$ |
— |
$ |
— |
$ |
— |
$ |
(102) |
J |
$ |
— |
$ |
— |
$ |
— |
$ |
— |
$ |
(102) |
$ |
2,795 |
|||||||||||||||||||||
|
International Energy |
428 |
— |
— |
— |
— |
— |
(373) |
H |
— |
— |
(373) |
55 |
||||||||||||||||||||||||||||||||
|
Commercial Portfolio |
109 |
— |
(59) |
F |
(114) |
C |
— |
— |
— |
(6) |
B |
15 |
I |
(164) |
(55) |
|||||||||||||||||||||||||||||
|
Total Reportable Segment Income |
3,434 |
— |
(59) |
(114) |
(102) |
— |
(373) |
(6) |
15 |
(639) |
2,795 |
|||||||||||||||||||||||||||||||||
|
Other |
(216) |
(127) |
A |
— |
— |
— |
9 |
E |
— |
— |
— |
(118) |
(334) |
|||||||||||||||||||||||||||||||
|
Intercompany Eliminations |
— |
— |
— |
— |
— |
— |
— |
— |
(10) |
G |
(10) |
(10) |
||||||||||||||||||||||||||||||||
|
Total Reportable Segment Income and Other Net Expense |
3,218 |
(127) |
(59) |
(114) |
(102) |
9 |
(373) |
(6) |
5 |
(767) |
2,451 |
|||||||||||||||||||||||||||||||||
|
Discontinued Operations |
— |
— |
— |
114 |
C |
— |
— |
— |
— |
(682) |
D |
(568) |
(568) |
|||||||||||||||||||||||||||||||
|
Net Income Attributable to Duke Energy Corporation |
$ |
3,218 |
$ |
(127) |
$ |
(59) |
$ |
— |
$ |
(102) |
$ |
9 |
$ |
(373) |
$ |
(6) |
$ |
(677) |
$ |
(1,335) |
$ |
1,883 |
||||||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, BASIC |
$ |
4.55 |
$ |
(0.18) |
$ |
(0.08) |
$ |
— |
$ |
(0.14) |
$ |
0.01 |
$ |
(0.53) |
$ |
(0.01) |
$ |
(0.96) |
$ |
(1.89) |
$ |
2.66 |
||||||||||||||||||||||
|
EPS ATTRIBUTABLE TO DUKE ENERGY CORPORATION, DILUTED |
$ |
4.55 |
$ |
(0.18) |
$ |
(0.08) |
$ |
— |
$ |
(0.14) |
$ |
0.01 |
$ |
(0.53) |
$ |
(0.01) |
$ |
(0.96) |
$ |
(1.89) |
$ |
2.66 |
||||||||||||||||||||||
|
A - Net of $78 million tax benefit. $5 million recorded as a decrease in Operating Revenues, $198 million recorded within Operating Expenses and $2 million recorded within Interest Expense on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
B - Net of $3 million tax benefit. Recorded within Operating Revenues on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
C - Midwest Generation Operations reclassifies the operating results of the nonregulated Midwest generation business that had been classified as discontinued operations after adjustment for special items and economic hedges from discontinued operations to the Commercial Power segment (net of $71 million tax benefit). | ||||||||||||||||||||||||||||||||||||||||||||
|
D - Recorded in Income (Loss) From Discontinued Operations, net of tax on the Consolidated Statements of Operations. Includes the impairment of the nonregulated Midwest generation business, the mark-to-market of economic hedges of the nonregulated Midwest generation business and certain costs associated with a contract settlement. | ||||||||||||||||||||||||||||||||||||||||||||
|
E - Net of $5 million tax expense. Recorded in Other Income and Expenses on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
F - Net of $35 million tax benefit. Recorded in impairment charges on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
G - Reverses the impact on eliminations of classifying the nonregulated Midwest generation business as discontinued operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
H - Deferred tax impact resulting from the decision to repatriate International Energy's historic undistributed foreign earnings, included within Income Tax Expense on the Consolidated Statement of Operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
I - State tax benefit resulting from the planned disposition of the nonregulated Midwest generation business. | ||||||||||||||||||||||||||||||||||||||||||||
|
J - Recorded within Operating, maintenance and other (Operating Expenses) on the Consolidated Statements of Operations. | ||||||||||||||||||||||||||||||||||||||||||||
|
Weighted Average Shares (reported and adjusted) - in millions | ||||||||||||||||||||||||||||||||||||||||||||
|
Basic 707 | ||||||||||||||||||||||||||||||||||||||||||||
|
Diluted 707 | ||||||||||||||||||||||||||||||||||||||||||||
|
* Mark-to-market adjustments reflect the impact of derivative contracts, which are used in Duke Energy's hedging of a portion of the economic value of its generation assets in the Commercial Portfolio segment and also relate to existing derivative positions that may have tenors beyond the planned disposal date of the nonregulated Midwest generation business. The mark-to-market impact of derivative contracts is recognized in GAAP earnings immediately as such derivative contracts do not qualify for hedge accounting or regulatory treatment. The economic value of generation assets is subject to fluctuations in fair value due to market price volatility of input and output commodities (e.g. coal, electricity, natural gas). Economic hedging involves both purchases and sales of those input and output commodities related to generation assets. Operations of the generation assets are accounted for under the accrual method. Management believes excluding impacts of mark-to-market changes of the derivative contracts from adjusted earnings until settlement better matches the financial impacts of the derivative contract with the portion of economic value of the underlying hedged asset. However, due to the divestiture of the nonregulated Midwest generation business as mentioned above, certain derivative positions have tenors beyond the planned disposal date of these assets. As such, management has excluded settlements of these derivative positions from adjusted diluted EPS as these realized gains and losses more closely relate to the loss on disposal of these assets. Management believes that the presentation of adjusted diluted EPS Attributable to Duke Energy Corporation provides useful information to investors, as it provides them an additional relevant comparison of Duke Energy Corporation's performance across periods. | ||||||||||||||||||||||||||||||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION | ||||||||||||||||
|
Three Months and Year Ended December 31, 2015 | ||||||||||||||||
|
(Dollars in Millions) | ||||||||||||||||
|
Three Months Ended |
Year Ended | |||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate | |||||||||||||
|
Adjusted Earnings, Pre-Tax Income* |
$ |
882 |
$ |
4,634 |
||||||||||||
|
Midwest Generation Operations |
— |
(147) |
||||||||||||||
|
Cost Savings Initiatives |
(142) |
(142) |
||||||||||||||
|
Costs to Achieve, Mergers |
(30) |
(97) |
||||||||||||||
|
Edwardsport Settlement |
(3) |
(93) |
||||||||||||||
|
Ash Basin Settlement and Penalties |
(7) |
(14) |
||||||||||||||
|
Economic Hedges (Mark-to-Market) |
(1) |
— |
||||||||||||||
|
Intercompany Eliminations |
— |
(4) |
||||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
699 |
$ |
4,137 |
||||||||||||
|
Adjusted Tax Expense* |
$ |
275 |
31% |
** |
$ |
1,467 |
32% |
** |
||||||||
|
Tax Adjustment Related to Midwest Generation Sale |
— |
41 |
||||||||||||||
|
Midwest Generation Operations |
— |
(53) |
||||||||||||||
|
Cost Savings Initiatives |
(54) |
(54) |
||||||||||||||
|
Costs to Achieve, Mergers |
(12) |
(37) |
||||||||||||||
|
Edwardsport Settlement |
(1) |
(35) |
||||||||||||||
|
Ash Basin Settlement and Penalties |
— |
(3) |
||||||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
208 |
30% |
$ |
1,326 |
32% |
||||||||||
|
*Includes amounts attributable to noncontrolling interests |
||||||||||||||||
|
**Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
||||||||||||||||
|
DUKE ENERGY CORPORATION | ||||||||||||||||
|
ADJUSTED EFFECTIVE TAX RECONCILIATION | ||||||||||||||||
|
Three Months and Year Ended December 31, 2014 | ||||||||||||||||
|
(Dollars in Millions) | ||||||||||||||||
|
Three Months Ended |
Year Ended | |||||||||||||||
|
Balance |
Effective Tax Rate |
Balance |
Effective Tax Rate | |||||||||||||
|
Adjusted Earnings, Pre-Tax Income* |
$ |
873 |
$ |
4,715 |
||||||||||||
|
Costs to Achieve, Mergers |
(33) |
(205) |
||||||||||||||
|
Midwest Generation Operations |
(52) |
(185) |
||||||||||||||
|
Litigation Reserve |
(102) |
(102) |
||||||||||||||
|
Asset Impairment |
— |
(94) |
||||||||||||||
|
Economic Hedges (Mark-to-Market) |
— |
(9) |
||||||||||||||
|
Asset Sales |
— |
14 |
||||||||||||||
|
Reported Income From Continuing Operations Before Income Taxes |
$ |
686 |
$ |
4,134 |
||||||||||||
|
Adjusted Tax Expense* |
$ |
263 |
30% |
** |
$ |
1,493 |
32% |
** |
||||||||
|
International Tax Adjustment |
373 |
373 |
||||||||||||||
|
Costs to Achieve, Mergers |
(13) |
(78) |
||||||||||||||
|
Midwest Generation Operations |
(20) |
(71) |
||||||||||||||
|
Asset Impairment |
— |
(35) |
||||||||||||||
|
Economic Hedges (Mark-to-Market) |
— |
(3) |
||||||||||||||
|
Tax Adjustment Related to Midwest Generation Sale |
(15) |
(15) |
||||||||||||||
|
Asset Sales |
— |
5 |
||||||||||||||
|
Reported Income Tax Expense From Continuing Operations |
$ |
588 |
86% |
$ |
1,669 |
40% |
||||||||||
|
*Includes amounts attributable to noncontrolling interests |
||||||||||||||||
|
**Adjusted effective tax rate is a non-GAAP financial measure as the rate is calculated using pretax earnings and income tax expense, both adjusted for the impact of special items. The most directly comparable GAAP measure for adjusted effective tax rate is reported effective tax rate, which includes the impact of special items. |
||||||||||||||||
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
2/18/2016Energy saving tips so bills don't go up when temperatures go down
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 11, 2016 /PRNewswire/ -- Warm weather in December meant lower energy bills, but more seasonal weather is in the forecast. Here are some tips to help save energy and money – no matter the winter weather.
Want more ways to save? Visit www.duke-energy.com and click on "Save Energy & Money."
Energy assistance programs
Duke Energy offers programs across its service areas that provide financial support to local assistance agencies to help customers with their winter heating costs. Program information is available at duke-energy.com/community/programs/duke-energy-energy-assistance.asp.
Billing and payment options
Duke Energy offers a number of billing and payment options for customer convenience. Free paperless billing and online payment programs are also available. For more information, visit the "billing and payment" page at duke-energy.com.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
2/11/20162/9/2016 - Duke Energy reviews state civil penalty while making strong progress in closing ash basins
Duke Energy reviews state civil penalty while making strong progress in closing ash basins
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 9, 2016 /PRNewswire/ -- Duke Energy today issued the following statement regarding a civil penalty issued by the North Carolina Department of Environmental Quality (NCDEQ) related to the Dan River coal ash spill that occurred in February, 2014.
We will review the action taken by NCDEQ today as we continue to work as quickly as the state process will allow to safely close coal ash basins.
The state's own research demonstrates that the Dan River is thriving. Drinking water always remained safe and water quality returned to normal within days of the February 2014 incident. The company took responsibility and quickly stopped the discharge and permanently plugged the 48 and 36 inch stormwater pipes at the site.
At the Dan River facility and across the state, we're making strong progress in closing basins in ways that protect people and the environment, comply with state and federal coal ash laws, minimize impact to communities, and manage cost.
The Health of the Dan River
Multiple federal and state agencies have been closely studying the Dan River.
Great progress in closing basins
Here is what Duke Energy has done in the last few months:
About Duke Energy
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,000 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina. Duke Energy Progress owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides about 12,000 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Contact:
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/9/20162/8/2016 - Duke Energy Florida cuts rates for customers
Duke Energy Florida cuts rates for customers
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
ST. PETERSBURG, Fla., Feb. 8, 2016 /PRNewswire/ -- For the fourth time in three years, Duke Energy's Florida customers will see lower electric rates, if plans are approved by the Florida Public Service Commission (FPSC).
The company today filed a request with the FPSC to reduce rates, beginning with April 2016 billing, due to lower projected natural gas prices.
The net fuel and capacity cost change will cut $5.83 from the typical 1,000-kWh residential customer's monthly bill for a total cost of $108.32.
"After this price drop, our customers will be paying about 21 percent less for electricity than they were in January 2009. That's nearly $30 in savings every month," said Alex Glenn, Duke Energy state president – Florida. "We continue to seek innovative approaches to provide the best possible price while we invest in affordable, clean energy and improve reliability for our customers every day."
Business customers will also see similar rate reductions depending on a number of factors including rate class and type of service.
Duke Energy Florida's typical residential rate is approximately 20 percent below the national average. According to the Consumer Price Index*, costs for housing, transportation and food have increased, while Duke Energy Florida rates have dropped. Duke Energy Florida previously reduced the residential rates by more than 6 percent in January 2016.
Duke Energy Florida works to actively manage its fuel contracts and keep costs as low as possible for customers. The company makes no profit from the fuel component of rates.
Other cost-saving price changes are on the horizon. In the spring, the company plans to issue low-cost bonds to cut costs associated with the Crystal River nuclear plant. This process, called Asset Securitization, will save customers approximately $600 million as compared to traditional cost recovery methods, depending on the interest rate. Once in place, customers will see a new line on the bill titled "Asset Securitization Charge." The amount of the charge is currently estimated to be approximately $2.93/month, which is about $2 less – a more than 35 percent savings for the next 20 years – than what customers would pay on a 1,000 kWh residential bill under traditional cost recovery methods.
Individual electric bills vary greatly and depend on the amount of electricity used.
Duke Energy Florida
Duke Energy Florida owns coal-fired and natural gas generation providing about 9,000 megawatts of owned electric capacity to approximately 1.7 million customers in a 13,000-square-mile service area.
With its Florida regional headquarters located in St. Petersburg, Fla., Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
*Based on 12-months ending Sept. 2015, according to the Consumer Price Index, based on the U.S. Bureau of Labor Statistics: food +0.8 percent, housing +3.2 percent, transportation +2.2 percent and electricity -0.4 percent.
Contact: Ana Gibbs
Office: 813.928.7263
24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/8/20162/8/2016 - Duke Energy customers surpass 1 terawatt of energy savings through My Home Energy Report Program
Duke Energy customers surpass 1 terawatt of energy savings through My Home Energy Report Program
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 8, 2016 /PRNewswire/ -- Duke Energy's customers find there's no place like 'My Home' by surpassing 1 terawatt in energy savings through the company's My Home Energy Report (MyHER) Program.
MyHER provides residential customers with a meaningful look at their energy use compared to similar homes based on age, size, location and heating source in nearby homes.
Launched in 2010, the program is the first of its kind in the world to hit the 1 terawatt milestone – that's enough energy to light more than 1 million homes for a year.
"The cleanest power plant is the one that doesn't need to be built," said Kelly Kuehn, Duke's senior product and services manager. "With the MyHER report, our customers receive targeted insights that help them take action to reduce their energy consumption. The results have been remarkable."
1 terawatt is enough power to:
Homeowners receive a MyHER report eight times a year with personalized recommendations to save power. Participants' MyHER energy-saving impacts are measured annually through a third party evaluation, measurement and verification.
While the program originally started as a mailer, reports are now also available online with additional changes expected as new technology is available.
Duke Energy started the MyHER program in partnership with Tendril, a data analytics software company that works with energy providers to better engage customers.
"MyHER is the most effective behavioral home energy savings program in the world. The technology empowers consumers to make informed decisions to reduce their usage," said Adrian Tuck, CEO for Tendril.
"We've worked with our customers to identify the best ways to share information and recommendations on how to save power," added Kuehn. "We look forward to incorporating new technologies into the program and expanding its scope."
To learn more about the MyHER program, go to: http://www.duke-energy.com/homereport.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
About Tendril
Tendril delivers personalized energy experiences for consumers around the world. Leading energy providers that want to establish a competitive advantage rely on our software and solutions to better acquire, engage and activate their customers. To do this we employ the latest in energy science and data analytics to unveil a complete understanding of the individual consumer, including their unique needs and propensities to act. With this granular understanding we help our customers unlock the true value of energy interactions. For more information, please visit www.tendrilinc.com or follow us on Twitter at @Tendril.
CONTACT: 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
2/8/2016Duke Energy Renewable Services to maintain DTE Energy's seven wind parks
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Feb. 4, 2016 /PRNewswire/ -- Duke Energy Renewable Services today announced it has partnered with DTE Energy Company via a five-year service agreement to operate and maintain DTE's seven wind parks totaling 400 megawatts (MW).
The fully operational wind projects consist of 247 1.6- and 1.7-MW GE turbines located in Gratiot, Sanilac and Huron counties, Michigan. The projects began operation in 2013.
In addition to providing operations and maintenance services, Duke Energy Renewable Services began supplying 24/7 remote monitoring and balance-of-plant management in January 2016. Duke Energy's Renewable Energy Monitoring Center uses powerful and secure technology to increase the performance and reliability of wind and solar power plants across the country.
"We are pleased to offer value to DTE Energy with our experienced boots on the ground as well as our sophisticated monitoring center," said Greg Wolf, president of Duke Energy Renewables and Commercial Portfolio. "DTE Energy shares in our commitment to safe and efficient operations, which ensures a beneficial partnership for years to come."
"DTE Energy is Michigan's largest investor in renewable energy, and wind energy accounts for 95 percent of our renewable portfolio," said Dave Harwood, DTE Energy's director of Renewable Energy. "Wind energy plays a key role in delivering reliable, affordable and clean energy to DTE customers. We are confident that the expertise and knowledge Duke Energy Renewable Services brings to our team will help us further optimize our wind park operations."
Duke Energy Renewable Services will provide its deep experience operating wind assets and increasing customer's energy yield during times of high electricity demand.
"We are looking forward to ensuring successful operations for DTE Energy," said Jeff Wehner, vice president of Duke Energy Renewable Operations. "Leveraging our operational experience and buying power will allow us to optimize the performance of DTE Energy's Michigan wind projects, resulting in greater service value."
About Duke Energy Renewable Services
Duke Energy Renewable Services, part of Duke Energy Renewables, is a leader in operating and maintaining wind and solar projects for customers throughout the United States. The company's growing fleet of owned and third-party wind and solar operations now spans 73 projects in 15 states, totaling more than 4,000 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/Renewable.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
About DTE Energy
DTE Energy (NYSE: DTE) is a Detroit-based diversified energy company involved in the development and management of energy-related businesses and services nationwide. Its operating units include an electric utility serving 2.1 million customers in Southeastern Michigan and a natural gas utility serving 1.2 million customers in Michigan. The DTE Energy portfolio includes non-utility energy businesses focused on power and industrial projects, natural gas pipelines, gathering and storage, and energy marketing and trading. As one of Michigan's leading corporate citizens, DTE Energy is a force for growth and prosperity in the 450 Michigan communities it serves in a variety of ways, including philanthropy, volunteerism and economic progress. Information about DTE Energy is available at dteenergy.com, twitter.com/dte_energy and facebook.com/dteenergy.
Duke Energy Contact: Tammie McGee
24-Hour: 800.559.3853
DTE Energy Contact: Jennifer Wilt
313.235.5555
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SOURCE Duke Energy
Article Date
2/4/2016Duke Energy issues statement regarding a potential sale involving its International Energy business segment
Source: PR Newswire
CHARLOTTE, N.C., Feb. 4, 2016 /PRNewswire/ -- Duke Energy announced today it is considering the sale of all or a portion of its International Energy business segment. Headquartered in Houston, Texas, Duke Energy International owns power plants in Central and South America.
The company's preparations are at a preliminary stage and no binding or non-binding offers have been requested or submitted. No assurance can be given that any process, if ultimately started, will result in a transaction.
Management will provide any updates during its regularly scheduled earnings call on Feb. 18.
Duke Energy International (DEI) facilities include approximately 4,400 megawatts of capacity in power plants in Argentina, Brazil, Chile, Ecuador, El Salvador, Guatemala and Peru. Two-thirds of the power plant portfolio is hydro and half are located in Brazil. The majority of the power generated by the plants is either contracted or receiving a capacity payment.
Duke Energy's 25-percent equity investment in National Methanol Company, a Saudi Arabian regional producer of methanol and methyl tertiary butyl ether (MTBE), a gasoline additive, will not be included in this potential transaction.
The company made the announcement in light of a required statement made early Thursday by its Brazilian subsidiary, Duke Energy International, Geração Paranapanema S.A., which has publicly-traded securities in Brazil.
For a map and brief description of DEI's operations and power plant locations, see https://www.duke-energy.com/about-us/businesses/international.asp.
Forward-Looking Information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements are based on management's beliefs and assumptions. These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "outlook," "guidance," and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Factors that could cause actual results to differ materially from those indicated in any forward-looking statement include, but are not limited to: state, federal and foreign legislative and regulatory initiatives, including costs of compliance with existing and future environmental requirements or climate change, as well as rulings that affect cost and investment recovery or have an impact on rate structures or market prices; the extent and timing of the costs and liabilities relating to the Dan River ash basin release and future regulatory changes related to the management of coal ash; the ability to recover eligible costs, including those associated with future significant weather events, and earn an adequate return on investment through the regulatory process; the costs of decommissioning Crystal River Unit 3 could prove to be more extensive than is currently identified and all costs may not be fully recoverable through the regulatory process; the risk that the credit ratings of the combined company or its subsidiaries may be different from what the companies expect; costs and effects of legal and administrative proceedings, settlements, investigations and claims; industrial, commercial and residential growth or decline in service territories or customer bases resulting from customer usage patterns, including energy efficiency effort and use of alternative energy sources including self-generation and distributed generation technologies; additional competition in electric markets and continued industry consolidation; political and regulatory uncertainty in other countries in which Duke Energy conducts business; the influence of weather and other natural phenomena on operations, including the economic, operational and other effects of severe storms, hurricanes, droughts and tornadoes; the ability to successfully operate electric generating facilities and deliver electricity to customers; the impact on facilities and business from a terrorist attack, cyber security threats, data security breaches and other catastrophic events; the inherent risks associated with the operation and potential construction of nuclear facilities, including environmental, health, safety, regulatory and financial risks; the timing and extent of changes in commodity prices, interest rates and foreign currency exchange rates and the ability to recover such costs through the regulatory process, where appropriate, and their impact on liquidity positions and the value of underlying assets; the results of financing efforts, including the ability to obtain financing on favorable terms, which can be affected by various factors, including credit ratings and general economic conditions; declines in the market prices of equity and fixed income securities and resultant cash funding requirements for defined benefit pension plans, other post-retirement benefit plans, and nuclear decommissioning trust funds; changes in rules for regional transmission organizations, including changes in rate designs and new and evolving capacity markets, and risks related to obligations created by the default of other participants; the ability to control operation and maintenance costs; the level of creditworthiness of counterparties to transactions; employee workforce factors, including the potential inability to attract and retain key personnel; the ability of subsidiaries to pay dividends or distributions to Duke Energy Corporation holding company (the Parent); the performance of projects undertaken by our nonregulated businesses and the success of efforts to invest in and develop new opportunities; the effect of accounting pronouncements issued periodically by accounting standard-setting bodies; the impact of potential goodwill impairments; the ability to reinvest retained earnings of foreign subsidiaries or repatriate such earnings on a tax-free basis; and the ability to successfully complete future merger, acquisition or divestiture plans.
Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than Duke Energy has described. Duke Energy undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media contacts: Tom Williams, Tammie McGee
800.559.3853
Investor contact: Bill Currens
704.382.1603
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SOURCE Duke Energy
Article Date
2/4/2016Sabal Trail Transmission Project Receives FERC Certificate
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
LAKE MARY, Fla., Feb. 3, 2016 /PRNewswire/ -- Sabal Trail Transmission, LLC, a joint venture of Spectra Energy Partners, LP (NYSE: SEP), NextEra Energy, Inc., and Duke Energy, received a certificate of public convenience and necessity from the Federal Energy Regulatory Commission (FERC) to construct and operate the Sabal Trail interstate natural gas pipeline project. This approval authorizes Sabal Trail, subject to certain conditions, to proceed with final preparations to commence construction in the coming months to meet a May 1, 2017, in-service date.
Once complete, the 516-mile pipeline would have the capacity to deliver approximately 1.1 billion cubic feet of natural gas per day to the Southeast U.S., including firm transportation services to Florida Power & Light Company and Duke Energy of Florida.
"Sabal Trail will provide a critically-needed source of domestic, clean-burning, affordable natural gas to the Southeast U.S. to meet the growing demand for natural gas-fired generation, the cleanest and most versatile fuel for powering the region's homes and businesses," said Bill Yardley, president of Sabal Trail Management, LLC and president of U.S. Transmission and Storage, Spectra Energy.
"For more than two and a half years, Sabal Trail has engaged with stakeholders, local community officials, and federal and state agencies to locate and design a pipeline system that will be built and operated safely and efficiently. Receiving this stamp of approval is a testament to our strong history of consultation and successful project execution. We are very pleased to reach this significant milestone and move one step closer to construction of the pipeline, which will diversify the region's energy sources and generate significant economic benefits for local communities."
For more information on Sabal Trail, visit www.sabaltrail.com.
Spectra Energy Partners, LP (NYSE: SEP) is a Houston-based master limited partnership, formed by Spectra Energy Corp (NYSE: SE). SEP is one of the largest pipeline MLPs in the United States and connects growing supply areas to high-demand markets for natural gas and crude oil. These assets include more than 15,000 miles of transmission and gathering pipelines, approximately 170 billion cubic feet of natural gas storage, and approximately 4.8 million barrels of crude oil storage.
NextEra Energy, Inc. (NYSE:NEE) is a leading clean energy company with consolidated revenues of approximately $17.5 billion, approximately 46,300 megawatts of generating capacity, which includes megawatts associated with noncontrolling interests related to NextEra Energy Partners, LP (NYSE:NEP), and approximately 14,300 employees in 27 states and Canada as of year-end 2015. Headquartered in Juno Beach, Fla., NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves more than 4.8 million customer accounts in Florida and is one of the largest rate-regulated electric utilities in the United States, and NextEra Energy Resources, LLC, which, together with its affiliated entities, is the world's largest generator of renewable energy from the wind and sun. Through its subsidiaries, NextEra Energy generates clean, emissions-free electricity from eight commercial nuclear power units in Florida, New Hampshire, Iowa and Wisconsin. NextEra Energy has been recognized often by third parties for its efforts in sustainability, corporate responsibility, ethics and compliance, and diversity, and has been ranked in the top 10 worldwide for innovativeness and community responsibility as part of Fortune's 2015 list of "World's Most Admired Companies." For more information about NextEra Energy companies, visit these websites: www.NextEraEnergy.com, www.FPL.com, www.NextEraEnergyResources.com.
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
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SOURCE Spectra Energy Partners, LP; Spectra Energy Corp
Article Date
2/3/2016Duke Energy donation gives a boost to education and jobs in Eastern North Carolina
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 28, 2016 /PRNewswire/ -- Duke Energy Renewables has awarded $100,000 to the Center for Energy Education, a nonprofit organization whose mission encompasses research, education, and training workers for North Carolina's growing solar industry.
Created by the solar development company, Geenex, LLC, the nonprofit will be located at the former Halifax County Airport, near Roanoke Rapids, N.C., adjacent to the 20-megawatt Halifax Solar Power Project owned by Duke Energy Renewables.
The center's campus and 5,000 square-foot facility are under construction and expected to be complete in October 2016.
"Duke Energy Renewables' support will enable us to take several big steps this year," said Georg Veit, CEO of Geenex and chairman of the center's board of directors. "Energy education has to start early in students' lives, which leads to better professionals in the renewable energy industry."
A portion of the funds is dedicated to a partnership with North Carolina State University's The Science House, part of the school's College of Sciences. The Science House will locate its Eastern North Carolina satellite office at the center and will work with local schools to provide resources, programs and teaching materials to K-12 educators.
In addition, the center will expand a professional development training program for N.C. science teachers that helps them integrate energy education into the established science curriculum. With Duke Energy's gift, the middle-school program will expand to elementary and high school teachers.
"Duke Energy's investment will enhance the ability of the Center for Energy Education to motivate educators and students toward study and work in renewable energy," said Vernon Bryant, chairman of the Halifax County Board of Commissioners.
"Halifax County looks forward to partnering with the center in building a foundation of skilled, knowledgeable workers for this growing industry sector as well as opportunities for interactive experiences for residents and visitors through walking trails and energy exhibits," Bryant added.
The vision for the Center for Energy Education was based on a strong relationship with Halifax County and long-term commitment to the area.
"Through the solar projects we've built in Eastern North Carolina, we've brought jobs and economic development to the region," said Greg Wolf, president Duke Energy Commercial Portfolio and Duke Energy Renewables. "Many communities have welcomed us, and we're pleased to participate in a program that benefits these communities and will help local men and women gain the skills to qualify for jobs in the solar industry."
The donation also will be used to develop a quarter-mile walking loop that will connect the center to outdoor exhibits on campus.
"The concept of the walking trail was developed in response to community interest in more spaces for physical activity that can also be an inspiration for sustainability," said Veit. "We envision the walking loop as a first step toward further campus development that will incorporate healthy lifestyles, sustainable living and education about the positive impacts of renewable energy."
Background
2015 marked a banner year for solar power in North Carolina as Duke Energy companies set a record for the amount of solar energy they added in the state -- more than 300 megawatts (MW), enough to power about 60,000 average homes. The U.S. Energy Information Administration says North Carolina should be second only to California for utility-scale solar construction in 2015.
Since 2011, Duke Energy Renewables has built 25 solar facilities in North Carolina, representing 270 MW and an investment of about $700 million.
News editors: map and solar photos available upon request
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Businesses, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 35 solar farms in operation in 12 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com. Follow Duke Energy on Twitter, LinkedIn and Facebook.
About the Center for Energy Education
The Center for Energy Education is a non-profit organization, located in Halifax County, N.C., whose mission is to be a cutting edge space where education, research and industry-leading professionals work and learn side by side. It is a space where the local community finds the inspiration and opportunities to become the energy professionals and advocates of sustainability of tomorrow. The Center will serve citizens throughout eastern North Carolina and beyond. Learn more at www.center4ee.org
Contact: Tammie McGee, Duke Energy
Office: 980.373.8812 | 24-Hour: 800.559.3853
Contact: Pam Ballew, Center for Energy Education
Office: 252.578.0606, pam@center4ee.org
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SOURCE Duke Energy
Article Date
1/28/2016With completion of Los Vientos V, Duke Energy Renewables racks up more than 600 megawatts of wind and solar power in 2015
Source: PR Newswire
CHARLOTTE, N.C., Jan. 26, 2016 /PRNewswire/ -- Duke Energy Renewables, a commercial business unit of Duke Energy, ended 2015 with a flurry, completing its 110-megawatt (MW) Los Vientos V Windpower Project in Starr County, Texas.
With this site on line as of late December, the business added 400 MW of wind and 200 MW of solar power to its U.S. renewables portfolio in 2015.
"We've come a long way since we constructed our first 29-MW wind site in 2008," said Greg Wolf, president Duke Energy Commercial Portfolio. "The company surpassed the 2,000-MW milestone just six months ago, and we've continued to accelerate renewables growth to a year-end total approaching 2,500 MW."
"This is a remarkable accomplishment for our renewables business, which has demonstrated consistent growth over its eight-year history," said Lynn Good, Duke Energy chairman, president and chief executive officer. "As we look forward, continued growth is important as Duke Energy transitions to an increasingly clean generation portfolio."
Garland Power & Light, Greenville Electric Utility System and Bryan Texas Utilities (BTU) are purchasing the output from Los Vientos V through 25-year agreements. The facility produces enough emissions-free electricity to power about 33,000 average homes.
"These progressive municipal utilities are adding wind power to their mix in response to a greater demand for competitively-priced, clean, and sustainable energy," added Wolf. "We're proud to add them to our valued customer base."
In addition to Los Vientos V, Duke Energy Renewables completed the 200-MW Los Vientos III wind project last year and acquired half of the 211-MW Mesquite Creek wind site, which supplies energy to candy maker Mars, Inc.
Duke Energy Renewables also brought more than 200 MW of solar energy on line in 2015. It built eight solar projects in North Carolina, totaling about 160 MW, including the 80-MW Conetoe facility, the largest solar project operating east of the Mississippi to date. The business also completed the 20-MW Seville I and 30-MW Seville II solar power projects in California.
About Duke Energy Renewables
Duke Energy Renewables, part of Duke Energy's Commercial Businesses, is a leader in developing innovative wind and solar energy generation projects for customers throughout the United States. The company's growing portfolio of commercial renewable assets includes 18 wind farms and 35 solar farms in operation in 12 states, totaling about 2,500 megawatts in electric-generating capacity. Learn more at www.duke-energy.com/renewables.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.
About Garland Power & Light
Garland Power & Light is the municipal electric utility for the city of Garland, Texas, providing service since 1923. With more than 69,000 customers, GP&L is the fourth largest municipal utility in Texas and the 41st largest in the nation. The utility is committed to providing excellent customer service and competitive rates, and is recognized nationally as a platinum level Reliable Public Power Provider. Visit gpltexas.org for additional information.
About Bryan Texas Utilities
BTU is a municipally owned electric utility serving over 50,000 customers in Bryan, Texas and surrounding areas. BTU has been recognized locally, in Texas and nationally for its high reliability, competitive rates and for forward thinking customer service initiatives. In 2014, BTU was one of only 29 of the nation's 2,000 public power utilities, to earn the "Reliable Public Power Provider – RP3 – Diamond Award" from the American Public Power Association.
About Greenville Electric Utility System
GEUS is owned by the city of Greenville and supplies Greenville residents with 476,907 megawatt-hours of electrical power annually through:
~ 13,000 meters
~ 32 miles of transmission line
~ 500 miles of overhead distribution line
~ 53 miles of underground distribution line
Peak demand is 121 megawatts. GEUS receives 10 percent of TMPA's Gibbons Creek Coal Plant's total output. GEUS' steam generator plant supplies peaking power.
Contact: Tammie McGee
Office: 980.373.8812 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/26/2016Duke Energy nears goal line Sunday in restoring power outages
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 24, 2016 /PRNewswire/ -- Duke Energy currently has 50,000 remaining outages in the Carolinas after a winter storm affected customers over the past few days.
Bobby Simpson, Duke Energy's storm director, says he expects nearly all remaining customers to have power Sunday. The company has had as many as 7,000 workers in the field since Friday working to restore outages caused by snow, ice, sleet and high winds.
"We have restored more than 484,000 outages since Friday and we'd like to thank our customers for their patience and understanding while we work in the severe elements to get power back on," added Simpson. "Our restoration efforts become more challenging today as we respond to unique outages with extensive damage in hard-hit areas."
Counties with the most remaining outages are: Wake, Johnston and Nash counties in North Carolina. Check the company's outage site for estimated restoration times. Customers can view current outages online at www.duke-energy.com/winterstorm
Residents should remember North Carolina's "move over" law, which requires drivers to make way for emergency responders – like utility workers. On roads with only one traffic lane in each direction, drivers must slow down and be prepared to stop.
Stay connected
Duke Energy is also providing updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
As part of Duke Energy's restoration process, customers may get a text or phone call from the company to confirm their power has returned.
Meter box damage and generators
Customers who have damaged meter boxes should get them repaired now to avoid delays in restoration. A video explaining meter-box damage is available. A damaged meter box may explain why you do not have power while your neighbors do.
If a customer's meter box is pulled away from the house and the house is without power, the homeowner is responsible for contacting an electrician for a permanent fix. An electrical inspection may be required before the company can reconnect service.
If the meter box is pulled away from the house and the house still has power, the customer should call an electrician to re-attach the meter box.
Duke Energy urges any customers who purchase generators to contact a licensed electrician for installation. Generators can be dangerous. Contact a licensed electrician if you have any questions about the operation of the unit.
If you are using a generator at your home to provide power until your service is restored, please watch for our crews and turn the generator off when they are in your area. The excess electricity created by your generator can feed back onto the electric lines, severely injuring a line technician who begins to work on a line, believing it to be de-energized.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact:
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
1/24/2016Duke Energy's ground game makes progress on storm outages
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 23, 2016 /PRNewswire/ -- More than 7,000 workers made a major dent in the power outages today as Duke Energy responded to the winter storm that rolled through the Carolinas all-day Friday.
As of 7 p.m. today, the company has roughly 75,000 current power outages – half the 150,000 the company started with earlier today. More than 400,000 outages have been restored.
"Our crews have been on the ground working to get power to our customers," said Bobby Simpson, Duke Energy's storm director. "Our crews made major progress today and we expect to have an equally productive day Sunday."
Almost all outages will be restored by Sunday night – although some outages could linger into Monday night. High winds or continuing bad weather could slow work and lead to additional outages. Check the company's outage site for estimated restoration times.
Crews have been moved from non-affected areas to harder-hit regions, which include Wake, Harnett and Johnston counties in North Carolina; and Greenville County in South Carolina.
Donation to the Red Cross
The Duke Energy Foundation will give a $25,000 donation to the American Red Cross to support storm relief provided during the winter storm. In the wake of the storm, the Red Cross provided relief to families in the most impacted counties served by the Triangle, Sandhills and Northeastern chapters in North Carolina, and the Greenville/Upstate chapter in South Carolina.
Customers should be prepared
Customers should be prepared for the potential of an extended outage. The company urges customers to:
Duke Energy customers whose accounts have medical indicators on them have been notified to consider making alternative arrangements in the event of an extended power outage.
Stay connected
Duke Energy is also providing updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
As part of Duke Energy's process, customers may get a text or phone call from the company to confirm their power has returned. This video explains more about the restoration process.
Meter box damage and generators
Customers who have damaged meter boxes should get them repaired now to avoid delays in restoration. A video explaining meter-box damage is available.
If a customer's meter box is pulled away from the house and the house is without power, the homeowner is responsible for contacting an electrician for a permanent fix. An electrical inspection may be required before the company can reconnect service.
If the meter box is pulled away from the house and the house still has power, the customer should call an electrician to re-attach the meter box.
Duke Energy urges any customers who purchase generators to contact a licensed electrician for installation. Generators can be dangerous. Contact a licensed electrician if you have any questions about the operation of the unit.
If you are using a generator at your home to provide power until your service is restored, please watch for our crews and turn the generator off when they are in your area. The excess electricity created by your generator can feed back onto the electric lines, severely injuring a line technician who begins to work on a line, believing it to be de-energized.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact:
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
1/24/2016Duke Energy tackles power restoration in storm's aftermath
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 23, 2016 /PRNewswire/ -- The aftermath of a winter storm that rolled through the Carolinas Friday has Duke Energy workers restoring power to more than 150,000 customers remaining without electricity.
As many as 7,000 workers responded to snow, sleet and freezing rain Friday as a major winter storm moved north through the company's system in North Carolina and South Carolina. The company has already restored more than 270,000 outages.
"Our crews are working non-stop to restore power," said Lloyd Yates, executive vice president, Market Solutions, and president of Duke Energy Carolinas. "We are confident the resources we have in the field today will make a huge impact on getting power back for our customers."
Although most customers will be restored earlier, all outages should be restored by Monday at 11 p.m. High winds or continuing bad weather could slow work and lead to additional outages. Check the company's outage site for specific restoration times. These updates should be available later this afternoon. Yates said restoration will be challenged by the extreme working conditions.
He added the company is moving crews from non-affected areas to harder-hit regions today. Some of the hardest-hit areas are in Wake, Harnett and Johnston counties in North Carolina; and Greenville County in South Carolina.
Friday night, the company experienced problems with its outage reporting systems – causing customers difficulty when reporting outages or getting updates from the company.
"We apologize for any frustration and inconvenience this caused customers," added Yates.
Donation to the Red Cross
The Duke Energy Foundation will give a $25,000 donation to the American Red Cross to support storm relief provided during the winter storm. In the wake of the storm, the Red Cross provided relief to families in the most impacted counties served by the Triangle, Sandhills and Northeastern chapters in North Carolina, and the Greenville/Upstate chapter in South Carolina.
Customers should be prepared
Customers should be prepared for the potential of an extended outage. The company urges customers to:
Duke Energy customers whose accounts have medical indicators on them have been notified to consider making alternative arrangements in the event of an extended power outage.
Stay connected
Duke Energy is also providing updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
As part of Duke Energy's process, customers may get a text or phone call from the company to confirm their power has returned. This video explains more about the restoration process.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
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SOURCE Duke Energy
Article Date
1/23/20161/23/2016 - Duke Energy crews will follow the outages
Duke Energy crews will follow the outages
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 22, 2016 /PRNewswire/ -- As this unpredictable winter storm continues to unfold, Duke Energy is strategically moving crews to those areas affected throughout the Carolinas.
"We have seen outage numbers increase in portions of eastern North and South Carolina throughout the day," said Bobby Simpson, Duke Energy's storm director. "Just as the type of precipitation has been unpredictable, so is the path of the storm."
Duke Energy is closely monitoring the situation as a combination of snow, sleet and freezing rain continues to fall across the Carolinas and many parts of the Southeast.
About 3,200 employees and contractors from Duke Energy in the Carolinas, along with more than 3,600 personnel from Florida, Georgia, Tennessee, Missouri, Mississippi, Indiana, Oklahoma, Michigan and Texas, have restored over 20,000 customers to date, but the number of outages has gradually risen throughout the day.
While the full impact of the winter storm may not be known for some time, Duke Energy wants customers to be prepared for the potential of an extended outage. The company urges customers to:
Duke Energy customers whose accounts have medical indicators on them have been notified to consider making alternative arrangements in the event of an extended power outage.
The company is currently experiencing intermittent problems with our outage reporting systems. We appreciate your patience as we work to resolve this issue. Please continue to try and report your outage on 1-800-POWERON or 800-419-6356.
Customers can view current outages online at www.duke-energy.com/winterstorm.
Duke Energy is also providing updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers is restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact:
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
1/23/2016Duke Energy crews begin restorations; expect storm's assault to continue
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 22, 2016 /PRNewswire/ -- The first major storm of the winter drifted into the Carolinas under the cover of darkness early today with the potential of robbing the area of roadway passability, business productivity and vital electricity.
Duke Energy crews, with the assistance of its contractors and personnel from as far away as Texas, were waiting and mobilized to begin restoring outages as quickly and safely as possible.
While outages are occurring throughout the company's Carolinas service territory, meteorologists believe the worst is yet to come.
Duke Energy is closely monitoring the situation as a combination of snow, sleet and freezing rain continues to fall across the Carolinas and many parts of the Southeast.
In addition to the company's more than 3,200 line and tree workers and contractors, about 3,600 personnel from Florida, Georgia, Tennessee, Missouri, Mississippi, Indiana, Oklahoma, Michigan and Texas began arriving yesterday in Raleigh, Charlotte, Asheville and in the Greenville-Spartanburg area.
Crews will continue to arrive in the Carolinas over the next few days and will be deployed as outages occur.
While the full impact of the winter storm may not be known for some time, Duke Energy wants customers to be prepared for the potential of an extended outage. The company urges customers to:
Duke Energy customers in the Carolinas whose accounts have medical indicators to advise them of the pending severe weather have been notified to consider making alternative arrangements in the event of an extended power outage.
Customers who experience an outage during the storm should call the automated outage-reporting system at 1-800-POWERON (1-800-769-3766) or text OUT to 57801 (standard text and data charges may apply).
Customers can also report an outage or view current outages online at www.duke-energy.com/winterstorms.
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact:
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
1/22/2016Piedmont Natural Gas Shareholders Approve Acquisition by Duke Energy
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 22, 2016 /PRNewswire/ -- Shareholders of Piedmont Natural Gas (NYSE: PNY) today voted to approve the company's acquisition by Duke Energy (NYSE: DUK) during a specially called meeting of shareholders at Piedmont's corporate offices in Charlotte.
The proposal to approve the acquisition was supported by 66.8% percent of the company's outstanding shares entitled to vote.
The companies filed for approval of the proposed acquisition with the North Carolina Utilities Commission and filed with the Tennessee Regulatory Authority to transfer Piedmont's Tennessee operating license on Jan. 15, 2016.
The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the acquisition.
Duke Energy and Piedmont Natural Gas are targeting to close the transaction by the end of 2016.
About Piedmont Natural Gas
Piedmont Natural Gas is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial, industrial and power generation utility customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities who are wholesale customers. Our subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, and regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available on the Internet at http://www.piedmontng.com/.
Cautionary statements regarding forward-looking information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are based on management's beliefs and assumptions.
These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving Duke Energy or Piedmont, including future financial and operating results, Duke Energy's or Piedmont's plans, objectives, expectations and intentions, the expected timing of completion of the transaction, and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties relating to: the risk that Duke Energy or Piedmont may be unable to obtain governmental and regulatory approvals required for the merger, or that required governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties to abandon the merger; the risk that a condition to closing of the merger may not be satisfied; the timing to consummate the proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on merger-related issues; and the effect of changes in governmental regulations. Additional risks and uncertainties are identified and discussed in Piedmont's and Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Neither Piedmont nor Duke Energy undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Piedmont Natural Gas
Article Date
1/22/2016Duke Energy moving additional storm responders to the Carolinas
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 21, 2016 /PRNewswire/ -- Duke Energy is beefing up its presence in the Carolinas with an additional 1,400 storm responders headed to the region.
The workers, mainly from the company's Florida operations and neighboring utilities in that state, expect to be needed as a winter storm is forecasted to bring snow, sleet and freezing rain to North Carolina and South Carolina as well as the Eastern United States. The company already has 3,200 line workers in the Carolinas.
Weather forecasts indicate the potential for significant ice and snow accumulations, which can bring down trees and power lines, causing power outages.
The company will deploy crews as outages occur. It will continue to work to secure additional resources with neighboring utilities, many of whom are watching and preparing for the same winter storm.
The company expects widespread outages and urges customers to:
Staying connected
Customers who experience an outage during the storm have choices on how to report it:
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. Follow Duke Energy on Twitter, LinkedIn and Facebook.
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
1/21/20161/20/2016 - Duke Energy preparing for Jonas' triple threat
Duke Energy preparing for Jonas' triple threat
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 20, 2016 /PRNewswire/ -- Duke Energy is closely monitoring the winter storm forecasted to bring snow, sleet and freezing rain to North Carolina and South Carolina as well as the Eastern United States Thursday night through the weekend.
Line technicians, service crews, customer service representatives and other personnel are available throughout the company's service areas and are ready to respond to outages and emergencies, if they occur. The company has 3,200 line workers in the Carolinas and plans are underway to bring additional resources, as needed.
Weather forecasts indicate the potential for ice and snow accumulations, which can bring down trees and power lines, causing power outages.
The company urges customers to:
Customers who experience an outage during the storm should call the automated outage-reporting system at 1-800-POWERON (1-800-769-3766).
Customers can also report an outage or view current outages online at www.duke-energy.com/storms.
Duke Energy also will provide updates on its social media channels to keep customers informed if significant outages occur.
Safety
Stay away from power lines that have fallen or are sagging. Consider all power lines energized, as well as trees or limbs in contact with power lines. Please report downed power lines to Duke Energy. If a power line falls across a car you're in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure no part of your body is touching the car when your feet touch the ground.
Restoring power
Restoring power after a storm can be challenging, as travel conditions are poor. Before power can be restored, crews first assess damage and determine which crews, equipment and supplies will be needed to make repairs. Because of this, customers may see damage assessors patrolling their neighborhoods before crews arrive to begin work.
Crews prioritize work to ensure the largest number of customers are restored as quickly as possible. Essential services, such as hospitals and emergency response facilities, are the first priority.
If you lose power, please turn off as many appliances and electronics as possible. This helps with restoration efforts because it reduces the immediate demand on power lines when power is restored.
Once your power is restored, please wait a few minutes before turning your equipment back on.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. It's Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com. Follow Duke Energy on Twitter, LinkedIn and Facebook.
24-Hour: 800.559.3853
Logo - http://photos.prnewswire.com/prnh/20130322/CL81938LOGO
SOURCE Duke Energy
Article Date
1/20/2016Duke Energy offers North Carolina teachers $75,000 for classroom STEM projects
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 20, 2016 /PRNewswire/ -- Duke Energy is offering to help teachers develop new, engaging ways to help students reach their full learning potential.
Through a $75,000 matching gift to DonorsChoose.org, the Duke Energy Foundation is teaming up with teachers to turn classroom projects into a reality.
Here is how it works: Public school teachers can submit science, technology, engineering and math (STEM) project proposals for up to $1,000 to DonorsChoose.org, where the public can provide funding.
When 50 percent of a project's request is funded through public donations, Duke Energy will contribute the remaining 50 percent. The match is available for STEM projects in public schools across the company's North Carolina service area.
"Bringing STEM to life through hands-on projects is one of the best ways to foster a growing passion for STEM careers and industries," said David Fountain, Duke Energy's North Carolina president. "We appreciate the dedication of our teachers and are proud to continue our partnership with DonorsChoose.org to get resources directly into the classroom."
"We are so grateful for the continued support of Duke Energy. Duke Energy has been supporting public school classrooms in North Carolina through DonorsChoose.org since 2006, making them one of our most faithful supporters," said Mykal Urbina, partnership manager, DonorsChoose.org. "This spring, we anticipate this grant will support over 150 classrooms, helping more than 4,200 North Carolina students receive the STEM learning materials they need."
Teachers can visit www.DonorsChoose.org/teachers to submit a project. Qualifying projects already posted to the site will automatically be eligible for Duke Energy's matching funds.
About Duke Energy Foundation
The Duke Energy Foundation, along with employee and retiree volunteers, actively works to improve the quality of life in its communities, lending expertise in the form of leadership and financial support through grants to charitable organizations. Duke Energy has long been committed to building and supporting the communities in which its customers and employees live and work.
In North Carolina, Duke Energy Foundation invests $16 million annually for community support and charitable contributions. To learn more about Duke Energy Foundation, visit www.duke-energy.com/community.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
About DonorsChoose.org
Founded in 2000, DonorsChoose.org makes it easy for anyone to help a classroom in need. At this nonprofit website, teachers at half of all the public schools in America have created project requests, and more than a million people have donated $225 million to projects that inspire them. All told, 10 million students—most from low-income communities, and many in disaster-stricken areas—have received books, art supplies, field trips, technology, and other resources that they need to learn.
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Media contact: Meredith Archie
Office: 919.546.2109 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/20/2016North Carolina solar was hot in 2015; Duke Energy led the charge
Source: PR Newswire
CHARLOTTE, N.C., Jan. 20, 2016 /PRNewswire/ -- 2015 marked a banner year for solar power in North Carolina as Duke Energy companies set a record for the amount of solar energy they added in the state -- more than 300 megawatts (MW), enough to power about 60,000 average homes at peak production.
Duke Energy's regulated utility
In its regulated service territory, Duke Energy committed $500 million for a major expansion of solar power in North Carolina. Last year, the company constructed and now owns four utility-scale solar projects totaling 141 MW and is buying 150 MW of solar power from other developers. The 141 MW represents about 25 percent of the total installed solar capacity in Duke Energy's North Carolina service territory in 2015.
The company-owned sites are in Bladen, Duplin, Wilson and Onslow counties. At the Onslow County site, the 13-megawatt Camp Lejeune Solar Facility is the company's first solar project located at a military base.
"Solar is helping to modernize our generation mix and better serve our customers' needs," said Rob Caldwell, senior vice president, Distributed Energy Resources. "We plan to continue the momentum; we've already announced we will build an additional 75 megawatts in 2016."
Also in North Carolina, Google was the first customer to announce participation in Duke Energy's Green Source Rider, a program that gives customers the option to purchase renewable energy to offset new energy consumption. Duke Energy will buy the power from a 61-megawatt solar project, owned by Rutherford Farms, LLC, for Google's expanded data center in Caldwell County.
Duke Energy Renewables
Also in 2015, Duke Energy Renewables, a commercial business unit of Duke Energy, built eight solar projects in North Carolina, totaling more than 160 MW and representing an investment of nearly $400 million. This included the 80-MW Conetoe facility, the largest solar project brought on line east of the Mississippi, and a 5-MW project in Tarboro that was completed on Dec. 31.
"With these projects, Duke Energy Renewables more than doubled its solar capacity in the state last year," said Greg Wolf, president, Duke Energy Commercial Portfolio. "We're proud to partner with communities throughout Eastern North Carolina to bring competitively priced solar energy and economic development to the region."
The U.S. Energy Information Administration says North Carolina should be second only to California for utility-scale solar construction in 2015. Duke Energy's investments in the state have been instrumental in North Carolina ranking fourth in the nation cumulatively and No. 1 in the South for solar capacity.
Summary of Duke Energy's 2015 solar projects in North Carolina:
|
Project name |
Location |
Size (AC) |
|
Duke Energy's regulated utility solar projects |
||
|
Warsaw |
Duplin County |
65 MW |
|
Elm City |
Wilson County |
40 MW |
|
Fayetteville |
Bladen County |
23 MW |
|
Camp Lejeune |
Onslow County |
13 MW |
|
Duke Energy Renewables' solar projects |
||
|
Creswell |
Washington County |
14 MW |
|
Everetts Wildcat |
Martin County |
5 MW |
|
Battleboro |
Edgecombe County |
5 MW |
|
Sunbury |
Gates County |
5 MW |
|
Capital Partners Phase II |
Kelford and Whitakers |
33 MW |
|
Conetoe |
Edgecombe County |
80 MW |
|
Shawboro |
Currituck County |
20 MW |
|
Tarboro |
Edgecombe County |
5 MW |
Background
In addition to its owned solar generation, Duke Energy also buys about 1,000 MW of solar energy through power purchase agreements in North Carolina.
Since 2011, Duke Energy Renewables has constructed 25 solar facilities in North Carolina, representing 270 MW and an investment of about $700 million.
Over the past eight years, Duke Energy has invested more than $4 billion in wind and solar facilities in 12 states. The company plans to invest an estimated $3 billion in renewable energy over the next five years.
More information about Duke Energy's regulated solar program: http://www.duke-energy.com/solar
More information about Duke Energy Renewables' commercial renewable energy projects: http://www.duke-energy.com/commercial-renewables/default.asp
Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/
News editors: map and specific solar photos available upon request
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Tammie McGee, Randy Wheeless
800.559.3853
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SOURCE Duke Energy
Article Date
1/20/2016Duke Energy to announce fourth quarter and year-end 2015 earnings on Feb. 18
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 18, 2016 /PRNewswire/ -- Duke Energy will release its fourth quarter and year-end 2015 earnings results at 7 a.m. ET on Thursday, Feb. 18.
An earnings conference call for analysts is scheduled for 10 a.m.
In addition to discussing the fourth quarter and year-end 2015 financial results, the company will provide its 2016 adjusted diluted earnings per share guidance range and other business and financial updates.
The conference call will be hosted by Lynn Good, president and chief executive officer, and Steve Young, executive vice president and chief financial officer.
The call can be accessed via the investors' section (http://www.duke-energy.com/investors/) of Duke Energy's website or by dialing 877-719-9786 in the United States or 719-325-4768 outside the United States. The confirmation code is 8694980. Please call in 10 to 15 minutes prior to the scheduled start time.
A replay of the conference call will be available until 1 p.m. ET, Feb. 28, 2016, by calling 888-203-1112 in the United States or 719-457-0820 outside the United States and using the code 8694980. A replay and transcript also will be available by accessing the investors' section of the company's website.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analysts Contact: Bill Currens
Office: 704.382.1603
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SOURCE Duke Energy
Article Date
1/18/20161/15/2016 - Duke Energy, Piedmont Natural Gas file with North Carolina Utilities Commission for acquisition approval
Duke Energy, Piedmont Natural Gas file with North Carolina Utilities Commission for acquisition approval
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 15, 2016 /PRNewswire/ -- Duke Energy (NYSE: DUK) and Piedmont Natural Gas (NYSE: PNY) today filed their application with the North Carolina Utilities Commission seeking regulatory approval of Duke Energy's proposed acquisition of Piedmont announced Oct. 26, 2015.
"This transaction will bring an array of benefits to North Carolina's energy consumers and the state's economy, and will not adversely impact Duke Energy's or Piedmont's customer rates or service," said Lynn Good, chairman, president and CEO of Duke Energy. "We look forward to the opportunity to present the transaction and its benefits to the North Carolina Utilities Commission at an upcoming hearing."
Also today, the companies filed with the Tennessee Regulatory Authority for approval of a change in control of Piedmont that will result from Duke Energy's acquisition of Piedmont.
On Jan. 13, 2016, the companies presented information regarding the acquisition to the Public Service Commission of South Carolina and answered commissioners' questions.
The transaction requires approval by Piedmont shareholders, who will vote on the transaction Jan. 22, 2016.
The Federal Trade Commission has granted early termination of the 30-day waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act with regard to the acquisition.
The companies are targeting a closing of the transaction by the end of 2016.
About Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com
Follow Duke Energy on Twitter, LinkedIn and Facebook.
About Piedmont Natural Gas
Piedmont Natural Gas (NYSE: PNY) is an energy services company primarily engaged in the distribution of natural gas to more than one million residential, commercial, industrial and power-generation utility customers in portions of North Carolina, South Carolina and Tennessee, including customers served by municipalities that are wholesale customers. Its subsidiaries are invested in joint venture, energy-related businesses, including unregulated retail natural gas marketing, regulated interstate natural gas transportation and storage, and regulated intrastate natural gas transportation businesses. More information about Piedmont Natural Gas is available at www.piedmontng.com.
Cautionary statements regarding forward-looking information
This document includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Forward-looking statements are based on management's beliefs and assumptions.
These forward-looking statements are identified by terms and phrases such as "anticipate," "believe," "intend," "estimate," "expect," "continue," "should," "could," "may," "plan," "project," "predict," "will," "potential," "forecast," "target," "guidance," "outlook," and similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results to be materially different from the results predicted. Such forward-looking statements include, but are not limited to, statements about the benefits of the proposed merger involving Duke Energy or Piedmont, including future financial and operating results, Duke Energy's or Piedmont's plans, objectives, expectations and intentions, the expected timing of completion of the transaction, and other statements that are not historical facts. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties relating to: the ability to obtain the requisite approvals of Piedmont's shareholders; the risk that Duke Energy or Piedmont may be unable to obtain governmental and regulatory approvals required for the merger, or that required governmental and regulatory approvals may delay the merger or result in the imposition of conditions that could cause the parties to abandon the merger; the risk that a condition to closing of the merger may not be satisfied; the timing to consummate the proposed merger; the risk that the businesses will not be integrated successfully; the risk that the cost savings and any other synergies from the transaction may not be fully realized or may take longer to realize than expected; disruption from the transaction making it more difficult to maintain relationships with customers, employees or suppliers; the diversion of management time on merger-related issues; and the effect of changes in governmental regulations. Additional risks and uncertainties are identified and discussed in Duke Energy's and its subsidiaries' reports filed with the SEC and available at the SEC's website at www.sec.gov. In light of these risks, uncertainties and assumptions, the events described in the forward-looking statements might not occur or might occur to a different extent or at a different time than described. Duke Energy undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Media Contacts:
Tom Williams, Duke Energy
24-Hour: 800.559.3853
David Trusty, Piedmont Natural Gas
704.731.4391
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SOURCE Duke Energy
Article Date
1/15/2016More consumer groups support Edwardsport settlement with Duke Energy Indiana
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., Jan. 15, 2016 /PRNewswire/ -- Additional consumer groups have joined a previously announced settlement with Duke Energy Indiana related to operating costs at the company's Edwardsport coal gasification power plant.
The Citizens Action Coalition of Indiana, Inc., Sierra Club, Save the Valley and Valley Watch have signed onto a settlement first announced in September 2015. The original settlement included the Indiana Office of Utility Consumer Counselor, the Duke Energy Indiana Industrial Group and Nucor Steel-Indiana.
The settlement also now includes additional savings for customers, low-income energy assistance, and solar grants for communities.
"One of the key parts of the new agreement is help for our customers most in need," said Duke Energy Indiana President Melody Birmingham-Byrd. "In addition to limiting what all customers will pay for plant operations, the revised settlement dedicates funds to help low-income customers with their energy bills. It also commits grant funds for community organizations and low-income customers interested in solar power."
Duke Energy agreed not to bill customers $87.5 million of plant operating costs deferred since Edwardsport's in-service date -- $2.5 million higher than the $85 million agreed to in the original settlement.
Additionally, the settling parties are adding $500,000 for low-income energy assistance to the $5 million designated for attorney fees, litigation expenses and other funding commitments in the September 2015 settlement. Plus, another $500,000 is being reallocated for community solar grants. Attorneys' fees and expenses for the new settling parties will be addressed in a separate proceeding.
As a result of the new settlement terms, Duke Energy will take a $3 million pre-tax charge for the fourth quarter of 2015. The company previously took a $90 million pretax charge to earnings in the third quarter of 2015 related to the original settlement. These charges will be reflected as a "special item" and, therefore, excluded from the company's adjusted diluted earnings per share.
In addition, the revised settlement includes a commitment to either retire or stop burning coal by Dec. 31, 2022, at the company's Gallagher Generating Station in New Albany. Duke Energy had expected to retire the plant as early as 2019 because of new environmental rules, but this agreement now sets a firm date for how long the plant can operate, regardless of environmental regulation delays or changes. The plant may retire sooner, however, due to environmental restrictions.
Other key terms from the original settlement such as the plant's in-service date and 2016-17 operating cost caps remain the same.
Duke Energy Indiana and the consumer groups filed the new settlement with state regulators today. The agreement is subject to Indiana Utility Regulatory Commission approval. If approved, the agreement will resolve all Edwardsport-related proceedings pending at the commission.
Background on the Edwardsport Project
The 618-megawatt Edwardsport plant uses state-of-the-art technology to gasify coal, strip out pollutants, and then burn that cleaner gas to produce electricity.
This advanced, integrated gasification combined cycle technology significantly improves plant efficiency. The plant began commercial operation in June 2013.
Edwardsport is a critical part of Duke Energy Indiana's efforts to modernize its generation fleet and an initial step toward replacing older, coal-fired generation expected to be retired due to pending EPA regulations. The Edwardsport plant is the first major new coal-fired power plant built in Indiana in more than two decades.
Duke Energy Indiana's operations provide about 7,500 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Contact: Angeline Protogere
Office: 317.838.1338; 24-Hour: 800.559.3853
Analyst Contact: Bill Currens
Office: 704-382-1603
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SOURCE Duke Energy
Article Date
1/15/20161/11/2016 - Duke Energy recognizes 2015 Power Partners
Duke Energy recognizes 2015 Power Partners
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 11, 2016 /PRNewswire/ -- Creativity, innovation and a commitment to leadership are just some of the distinguishing marks that identify the organizations selected for the 2015 Duke Energy Power Partners award.
The winners are recognized for their responsible energy use, and creating lasting value for their organizations and the communities they serve.
Some of the implemented advanced and inventive projects are:
"We are pleased to recognize these organizations for their wise use of energy," said Chris Edge, Duke Energy vice president for large business customers. "It's exciting to collaborate with them and witness firsthand how they add value to their customers and their communities."
Duke Energy established the Power Partner awards in 1992 to honor businesses and other entities that achieve exemplary results in energy efficiency, sustainability and business growth. Each of the 2015 Power Partners will be recognized at individual award ceremonies this winter.
The 2015 Power Partners are:
Duke Energy
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
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SOURCE Duke Energy
Article Date
1/11/2016Notice to shareholders on approval of environmental compliance plans
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 11, 2016 /PRNewswire/ -- The U.S. District Court for the Eastern District of North Carolina has approved Duke Energy's Nationwide Environmental Compliance Plan and the Environmental Compliance Plan for North Carolina.
Both plans, which are available at www.duke-energy.com/compliance, provide for additional oversight and transparency into the company's actions to comply with laws and regulations related to coal ash management.
The compliance plans are requirements of the May 14, 2015, plea agreement between the company's subsidiaries -- Duke Energy Carolinas, Duke Energy Progress and Duke Energy Business Services -- and the federal government related to the February 2014 Dan River coal ash spill and ash basin operations at other North Carolina coal plants.
The company pleaded guilty to nine criminal misdemeanor violations of the Clean Water Act, agreed to pay $102 million in fines and penalties and is serving five years probation.
Details regarding the background and issues that the compliance plans are designed to address may be found in the Joint Factual Statement located at www.duke-energy.com/compliance.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Contact:
24-Hour: 800.559.3853
Analyst Contact: Bill Currens
704.382.1603
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SOURCE Duke Energy
Article Date
1/11/2016Duke Energy to build 17-MW solar facility at Indiana naval base
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
PLAINFIELD, Ind., Jan. 7, 2016 /PRNewswire/ -- Duke Energy plans to add more clean, renewable energy to its generation mix with the construction of a 17-megawatt (AC) solar facility at Naval Support Activity (NSA) Crane, located 40 miles southwest of Bloomington, Ind.
The company has requested a certificate of public convenience and necessity from the Indiana Utility Regulatory Commission. If approved, Duke Energy Indiana will own and operate the facility, which is expected to be placed into commercial service in 2016.
The solar facility will connect to the electric grid at a Duke Energy Indiana-owned substation on NSA Crane property. It will feature approximately 76,000 solar panels constructed on roughly 145 acres in the southeast portion of the naval base, making it one of the largest solar facilities in the state.
The power generated by the solar facility will be available to Duke Energy Indiana customers and the Navy will continue to purchase power from Duke Energy Indiana.
"This project further advances our commitment to bring more renewable energy to our customers and we are pleased to again be working with the Department of the Navy," said Melody Birmingham-Byrd, president of Duke Energy Indiana.
The facility marks the second solar project that Duke Energy is building in partnership with the Department of the Navy. The company announced in 2015 a 13-megawatt (AC) solar facility at Camp Lejeune in Eastern North Carolina, which is now operational.
"This project exhibits the Department of the Navy's commitment to renewable energy," said Cmdr. Timothy A. Craddock, NSA Crane commanding officer. "Likewise, it helps solidify Crane's longevity as a community partner, providing local and regional energy security through diversified energy sources."
Separate from this project, Duke Energy Indiana has signed agreements with solar developers to purchase up to 20 megawatts of solar power at four Indiana locations. Two of these solar facilities in Vigo and Clay counties are in service now; the remaining two facilities are expected to be in service in early 2016. In addition, the company, in coordination with the Indiana Office of Utility Consumer Counselor, is investing $1 million to fund research at the Battery Innovation Center near NSA Crane to study how battery storage can maximize renewable power sources, such as rooftop solar panels and small wind turbines, and integrate them into the electric grid.
Duke Energy is a leader in renewable energy with more than 2,000 megawatts of wind and solar facilities in 12 states.
More information about Duke Energy's overall solar program can be found here: http://www.duke-energy.com/solar
Images and video can be found on Duke Energy's News Center: http://news.duke-energy.com/
About Duke Energy
Duke Energy Indiana's operations provide about 7,500 megawatts of owned electric capacity to approximately 810,000 customers in a 23,000-square-mile service area, making it the state's largest electric supplier.
Duke Energy is the largest electric power holding company in the United States. Its regulated utility operations serve approximately 7.3 million electric customers located in six states in the Southeast and Midwest, representing a population of approximately 23 million people. Its Commercial Portfolio and International business segments own and operate diverse power generation assets in North America and Latin America, including a growing portfolio of renewable energy assets in the United States.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Contact: Lew Middleton
Office: 317.838.1505 | 24-Hour: 800.559.3853
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SOURCE Duke Energy
Article Date
1/7/2016Duke Energy declares quarterly dividend payment to shareholders
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Jan. 4, 2016 /PRNewswire/ -- Duke Energy today declared a quarterly cash dividend on its common stock of $0.825 per share payable on March 16, 2016, to shareholders of record at the close of business Feb. 12, 2016.
Duke Energy has paid a cash dividend for 90 consecutive years.
About Duke Energy
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Contact: Tom Shiel
24-Hour: 800.559.3853
Analyst Contact: Bill Currens
704.382.1603
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SOURCE Duke Energy
Article Date
1/4/2016Duke Energy reviews state's recommendations while ash management work continues
Source: PR Newswire
Orignial Article: http://www.prnewswire.com...
CHARLOTTE, N.C., Dec. 31, 2015 /PRNewswire/ -- Duke Energy today issued the following statement regarding initial ash basin classifications issued by the North Carolina Department of Environmental Quality (NCDEQ).
BACKGROUND: As part of the Coal Ash Management Act (CAMA), the NCDEQ must recommend classifications for all coal ash basins throughout North Carolina to the Coal Ash Management Commission. Four sites received a high priority designation in the 2014 state law: Asheville Plant (Asheville, N.C.), Dan River Steam Station (Eden, N.C.), Riverbend Steam Station (Mount Holly, N.C.) and Sutton Plant (Wilmington, N.C.). Today's recommended classifications address the remaining 24 basins and will drive closure decisions and the schedule for each site. The CAMA includes very specific criteria that must be evaluated to determine these classifications and provides an opportunity for public input.
We appreciate the work that has gone into developing these preliminary recommendations. We're particularly interested in understanding how the state is balancing the requirements of the Coal Ash Management Act (CAMA) to ensure the environment is well protected without unnecessary cost and impact to customers and communities.
We are fully participating in this lengthy process, having provided the state with the most in-depth science and engineering studies experts have ever done around North Carolina ash basins. We want to ensure NC DEQ has the information it needs for its evaluation, so in addition to meeting our commitments under CAMA, we've also given regulators new and supplemental information that they recently requested.
Next, we look forward to hearing the public's perspective. In the meantime, we're making strong progress in closing basins in ways that protect people and the environment, comply with state and federal coal ash laws, minimize impact to communities, and manage cost.
Great progress in closing basins
Here is what Duke Energy has done in the last few months:
Duke Energy
Duke Energy Carolinas owns nuclear, coal-fired, natural gas, renewables and hydroelectric generation. That diverse fuel mix provides approximately 20,000 megawatts of owned electric capacity to about 2.5 million customers in a 24,000-square-mile service area of North Carolina and South Carolina. Duke Energy Progress owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides about 12,000 megawatts of owned electric capacity to approximately 1.5 million customers in a 32,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at duke-energy.com.
Follow Duke Energy on Twitter, LinkedIn and Facebook.
Media Contact:
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SOURCE Duke Energy
Article Date
12/31/2015Projects & Assets
Direct Assets
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Duke Energy Renewables
Gaston Solar Facility (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Hamilton Solar Power Plant (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Florida, Inc.
Hertford Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Highlander Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Holstein Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Hot Springs Microgrid- Battery Storage (subscriber access)
Parent Entities:
Duke Energy Corporation
Hot Springs Microgrid- Solar Facility (subscriber access)
Parent Entities:
Duke Energy Corporation
Jocassee Pumped Storage Hydro Station (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Keowee Hydro Station (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Keowee-Toxaway Hydroelectric Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Duke Energy Carolinas, LLC
Lake Placid Solar Power Plant (subscriber access)
Parent Entities:
Duke Energy Florida, Inc.
Lincoln County Combustion Turbine Expansion (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Carolinas, LLC
Long Farm Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Longboat Solar Power Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Maiden Creek Solar Facility (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Maryneal Windpower (subscriber access)
Parent Entities:
Duke Energy Corporation
North Rosamond Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Pflugerville Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Pisgah Ridge Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Pumpjack Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Rambler Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Sabal Trail Transmission Phase I (subscriber access)
Status: (subscriber access)
Parent Entities:
Sabal Trail Transmission, LLC
Sabal Trail Transmission Phase II (subscriber access)
Status: (subscriber access)
Parent Entities:
Sabal Trail Transmission, LLC
Sabal Trail Transmission Phase III (subscriber access)
Status: (subscriber access)
Parent Entities:
Sabal Trail Transmission, LLC
Seaboard Solar Farm (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Seville I Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Seville II Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Shawboro 20 MW Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Speedway Solar Plant (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Stony Knoll Solar Power Plant (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Sunset Reservoir Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Suwannee Solar Facility (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Florida, Inc.
Trenton Solar Power Plant (subscriber access)
Parent Entities:
Duke Energy Florida, Inc.
W.C. Beckjord Battery Storage Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Ohio
Wildflower Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
Wildwood Solar Project (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Renewables
Winton Solar Farm (subscriber access)
Parent Entities:
Duke Energy Renewables
Woodleaf Solar Facility (subscriber access)
Status: (subscriber access)
Parent Entities:
Duke Energy Corporation
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