Duke Energy Research: Enabling a More Intelligent Grid
Duke Energy today released a new white paper, Developing the Communications Platform to Enable a More Intelligent Grid, which outlines an innovative approach for modernizing our electricity grid.
David Masters, Duke Energy manager of technology development and white paper author, outlines his vision to provide affordable, reliable and clean energy for homes and businesses by using a digital communications network to modernize our century-old delivery system.
Masters, along with Duke Energy chief technology officer David Mohler, will hold a webinar on Wednesday, August 10, starting at 11:30 a.m. ET to discuss the research.
“A digital power grid enabled by an open communications network will allow us to meet our nation’s continually growing energy needs in a sustainable way,” said Masters. “What’s more, this system would allow us to integrate technologies that have already proven effective in other industries in a way that is both flexible and scalable. Utilizing this technology in our grid could significantly improve energy efficiency, reliability and affordability.”
To access full text of the white paper, please click here. Read more
Duke Energy to Sell Renewable Power from New Texas Wind Farm to CPS Energy
Duke Energy announced plans today to build a large-scale wind farm in Willacy County, Texas, and sell the electricity it generates to San Antonio-based CPS Energy, the nation’s largest municipally owned energy utility.
Duke Energy Renewables, a commercial business unit of Duke Energy, will build, own and operate the 200-megawatt (MW) Los Vientos I Windpower Project in Willacy County, approximately 120 miles south of Corpus Christi and 20 miles inland from the Gulf of Mexico.
Duke Energy will sell all of the output from the wind farm and associated renewable energy credits to CPS Energy under the terms of a 25-year agreement. CPS Energy already buys all of the electricity generated at Duke Energy Renewables’ 14-MW (16-MW direct current) Blue Wing Solar Project in San Antonio. The Blue Wing solar farm, which consists of approximately 215,000 photovoltaic panels, achieved commercial operation in November 2010. Read more
Duke Energy Carolinas Requests Electric Rate Increase in South Carolina
Request would increase electric rates by approximately 15 percent on average, driven by Carolinas modernization efforts
With the retirement of four older coal-fired units, the addition of new emissions controls on Unit 5 and the completion of the new state-of the art Unit 6, the modernized Cliffside facility will emit 80 percent less sulfur dioxide and 50 percent less nitrogen oxide and mercury as compared to the five original units, while generating more than twice the electricity.
Duke Energy Carolinas today filed a request with the Public Service Commission of South Carolina (PSCSC) to increase electric rates by approximately $216 million.
Nearly 90 percent of the rate increase would allow Duke Energy Carolinas to begin recovering $6.5 billion in investments to modernize its electric system and comply with state and federal emissions regulations.
Major projects include construction of a new natural gas-fired power plant, environmental emissions equipment and financing costs associated with building a new state-of-the art unit at the Cliffside coal plant, and upgrades to the system of poles, wires and equipment that delivers power to homes and businesses.
The remaining amount of the increase covers changes in financing and other general costs.
As work on modernizing the system continues, Duke Energy Carolinas has been aggressively managing customer costs. Last year, the company’s power plants set records for operational efficiency, while operations and maintenance costs were held essentially flat.
This fall, when rates are adjusted to reflect fuel costs, a typical residential customer who uses 1,000 kilowatt-hours per month of electricity would pay approximately $99. If the company’s rate increase is approved, that bill will increase by approximately $15.
Twitter pitch:
Duke Energy asks for rate increase to pay for new power plants and modernization - http://bit.ly/qM3eKB
Duke Energy rate increase asks to recoup $4.8 billion in capital investments made in the Carolinas - http://bit.ly/qM3eKB
Resource links:
Learn more about the S.C. Rate Increase Request, including what it means for your family, business and community.
Duke Energy Youtility shows you how you can take control of your energy use.
Public Service Commission of South Carolina
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Kentucky Public Service Commission Approves Duke-Progress Merger
The Kentucky Public Service Commission (KPSC) today approved the merger-related application filed in April by Duke Energy Corp. and Progress Energy, Inc. The application sought approval for the indirect transfer of Duke Energy Kentucky that would result from the merger of the companies.
The KPSC’s order, approving a settlement agreement negotiated by the stakeholders involved, marks the first state regulatory approval in the merger process. The KPSC requires Duke and Progress to accept all the commitments contained in the order within seven days.
The companies announced their agreement to merge Jan. 10 and have made all regulatory filings necessary to have the merger approved. The companies continue to target the merger closing by the end of the year. If the merger is completed, Progress Energy will become a wholly owned subsidiary of Duke Energy, and the former shareholders of Progress Energy will become shareholders of Duke Energy. Read more
Duke Energy Second Quarter Earnings Reflect Continued Positive Momentum
- Second quarter 2011 adjusted diluted earnings per share (EPS) were 33 cents, compared with 34 cents for the second quarter 2010
- Reported diluted EPS for second quarter 2011 were 33 cents, compared to a diluted net loss per share of 17 cents for the second quarter 2010
- Company is on track to achieve 2011 adjusted diluted EPS outlook range of $1.35 to $1.40 per share
Duke Energy today announced second quarter 2011 adjusted diluted EPS of 33 cents, compared to 34 cents for second quarter 2010. Reported diluted EPS were 3 cents, compared with a reported diluted net loss per share of 17 cents for the same period last year, which included non-cash impairment charges of approximately $660 million. Read more
Despite Heat, Duke Energy is Prepared to Meet Customers’ Demand
Our System Operating Center, where engineers work to balance power generation with customer demand
At this time, Duke Energy is able to meet our customers demand for energy.
Duke Energy generally experiences peak demand times in the summer months, so our plants and our power transmission / distribution system are designed and maintained to perform during extreme temperatures (planned maintenance during non peak months, etc.)
We closely monitor system conditions, especially on days like we’ve been experiencing this week, and plan accordingly.
If something were to occur that would reduce our supply – a generating plant having to come offline for unplanned maintenance, for instance – we have a number options available to help, including purchasing power off system and our voluntary demand response programs.
Using voluntary demand response programs is just one of the mitigation tools our operators have available to help reduce demand on the hottest days so we can continue to meet the energy needs of all customers. We have activated some of those programs this week.
Dave McRee, Senior Engineer, explains that we keep a careful watch on power generation and demand. We’re in good shape to meet customer demand through this July heat wave.
Duke Energy Carolinas Signs Letter of Intent for Potential Minority Interest in Santee Cooper’s Nuclear Project Ownership
Duke Energy Carolinas today filed a status update informing the Public Service Commission of South Carolina the company has signed a letter of intent with Santee Cooper for a potential minority interest (5 to 10 percent of the capacity of the two units) in Santee Cooper’s 45 percent ownership of the planned new nuclear reactors at V.C. Summer Nuclear Generating Station in South Carolina.
The letter of intent provides a path for Duke Energy to conduct the necessary due diligence to determine if future participation in this project would be beneficial for its customers.
Duke Energy Carolinas has been exploring various regional generation opportunities to meet future customer needs for safe, clean, reliable and affordable electricity. The agreement with Santee Cooper is a positive step in that direction.
In addition to exploring this regional generation project, Duke Energy continues work on development activities for its proposed Lee Nuclear Station and anticipates receiving its combined construction and operating license from the U.S. Nuclear Regulatory Commission in the 2013 time frame.
Duke Energy Carolinas owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides approximately 19,000 megawatts of owned electric capacity to approximately 2.4 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 Fortune 500 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.
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Tim Pettit
800-559-3853
Duke Energy Offers Tips for Taking Control of Your Energy Cost This Summer
With temperatures soaring well into the upper 90s this summer, Duke Energy encourages customers to take some simple steps to stay cool and save money.
“When temperatures are consistently high like they’ve been this summer, we know customers will use more energy as their air conditioners operate longer and more frequently to keep their homes cool,” said Gianna Manes, Duke Energy senior vice president and chief customer officer. “Taking control of your energy usage can be easy, so it’s important that customers understand how making a few simple changes can make a difference in their monthly energy costs,” Manes said.
Simple, Low- to No-Cost Energy-Saving Tips to Beat the Summer Heat
Duke Energy offers five low- to no-cost tips that can help customers beat the summer heat at home while saving money:
- Keep your doors closed – According to Energy Star®, minimizing door traffic and sealing leaks around windows and doors with caulking or weather stripping can help save up to 10 percent on annual energy bills.
- Close your curtains or blinds during the day – The U.S. Department of Energy found that this quick and easy step can help reduce heat gain inside your home by 45 percent, which means your home stays cooler so your air conditioner doesn’t have to work as hard.
- Install a programmable thermostat – By programming your air conditioner to adjust your home’s temperature up a few degrees when you’re not home, can help save up to $180 on your annual energy costs.
- Install compact fluorescent light bulbs – Replacing the bulbs in your six most-used lamps / fixtures with CFLs can save up to $30 over the lifetime of each bulb. Duke Energy has distributed more than 14 million bulbs to its customers over the past year, which is enough energy saved to power more than 60,000 homes and offset the carbon output of 95,000 passenger cars. Duke Energy customers in Ohio, North Carolina and South Carolina can get 15 bulbs free by visitingwww.duke-energy.com/freecfls or calling 800-943-7585; option 1 for more information.
- Use your microwave instead of the oven – Not only will it cut down on excessive heat in the kitchen, a microwave uses 70 percent less energy than a regular electric oven. Read more
Duke Energy Anticipates Ohio Coal Plant Retirement
Duke Energy Ohio anticipates it will retire all six coal-fired generation units at its W.C. Beckjord Station, southwest of Cincinnati, by Jan. 1, 2015, as a result of a proposed U.S. Environmental Protection Agency (EPA) rule.
Duke Energy Ohio announced its intent to retire Beckjord Station’s coal-fired units 1 through 6 – totaling 862 megawatts (MW) of generating capacity – in its 2011 Resource Plan filing with the Public Utilities Commission of Ohio (PUCO) on July 15.
The company plans to retire the coal-fired units at the nearly 60-year-old plant in 2015 due to EPA’s recently proposed Utility Maximum Achievable Control Technology (MACT) rule. EPA intends to finalize the rule in Nov. 2011, with required emission control technologies to be installed by Jan. 1, 2015. Read more
Duke Energy, Progress Energy shareholder meetings scheduled for Aug. 23
Duke Energy Corp. (Duke Energy) and Progress Energy, Inc. (Progress Energy) have scheduled special meetings Tuesday, Aug. 23, for shareholders to vote on the companies’ proposed merger announced Jan. 10.
The companies are mailing a joint proxy statement/prospectus to their respective shareholders on or about July 11, 2011. The Securities and Exchange Commission today declared effective the Duke Energy registration statement containing the joint proxy statement/prospectus. The document provides information for shareholders of both companies, as well as instructions on voting online, by mail, by telephone or in person.
- Duke Energy will hold its shareholder meeting at 10 a.m. Aug. 23 in the O.J. Miller Auditorium at the company’s offices located at 526 South Church St. in Charlotte.
- Progress Energy will hold its shareholder meeting at 11 a.m. Aug. 23 at the Progress Energy Center for the Performing Arts, 2 East South St. in Raleigh. Read more
