Duke Energy Shows Cleaner Energy Mix is Affordable in Annual Report

The company has revealed that it continues to generate cleaner energy at prices below the national average for its 7.7 million residential, commercial and industrial customers.

Duke Energy, an electric power holding company based in Charlotte, North Carolina has issued its latest (13th) Annual Sustainability Report – a report card on the company’s progress at meeting its sustainability goals.

The company has revealed that it continues to generate cleaner energy at prices below the national average for its 7.7 million residential, commercial and industrial customers. In the six states where it has retail electric customer, the company’s electric rates were below the national averages, according to data from the Edison Electric Institute.

Among the highlights in this year’s report:

• 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 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.  
• Its 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 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.

“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. Duke Energy’s sustainability goals reflect a continued need to improve and excel. Successful companies are those that recognise and adapt to the changing landscape of today’s energy industry.”