Electric prices in its six states remain below the national average for all customer classes
Almost 38 percent of the company’s energy mix is carbon-free
Renewable energy generation grew 11 percent last year
CHARLOTTE, N.C. – 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:
- 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.
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.