allowing us to set a percentage improvement objective in the future. Although a Duke-supported study showed 29-34% renewables are possible by 2030, the IRP sets only 15% renewables by 2035, well below the actual 2020 national average of 19.8%. following state-approved closure plans. The commission is holding a (virtual) public hearing on March 16 to receive input from the public about Duke’s IRP. 2020 status: In 2020, the Board of Directors focused on oversight of the company’s key Quality has approved closure plans for all ash basins at the remaining N.C. sites. Governance: Keep abreast of developments regarding corporate governance principles and recommend internal improvements as appropriate. Please choose the response below that best suits your needs: Please try rephrasing your question as you search our site. Additional ash units in Indiana have been closed in place new goal in September 2020 to convert 100 percent of our light-duty vehicles to electric and 50 However, after opposition from environmental groups, the plan was scaled down to $2. “We applaud Duke Energy’s plan to rapidly expand clean energy technology with an eye toward net-zero carbon emissions by 2050. Community volunteerism: Support our communities with more than 100,000 employee and retiree volunteer hours annually. We enhanced our approach to the employee engagement survey by adding an employee Net Promoter Score (eNPS). With North Carolina businesses, communities, and residents increasingly committed to climate action, Duke Energy’s 15-year power generation plan has drawn more attention than ever before. Duke’s Investment Advisory Committee (IAC) selected the investment lineup. Based on your ZIP code, we need to know your street address so we can customize your experience. operational and strategic risks, many of which were heightened as a result of the year’s events. challenging for the company to meet this goal by year-end 2020. Clean generation remains Duke Energy's focus as it plans to triple renewable energy this decade Duke Energy reaches milestone with installation of nearly 2 million smart meters in Florida, giving customers more control of energy use Confirm or CHANGE STATE. Every two years, Duke Energy Progress and Duke Energy Carolinas each develop an integrated resource plan (IRP) that lays out a resource roadmap to guide the utilities over the next 15 years. A diverse coalition of conservation, clean energy and community organizations representing the people of North and South Carolina assessed Duke’s 2020 IRPs. 2020 status: As of February 23, 2021, Duke Energy had a Bloomberg ESG Updated goal: Achieve a cumulative reduction in customer energy consumption of 24,000 GWh (equivalent to the annual usage of 2 million homes) by year-end 2025. We have initiated strategies to build a more diverse workforce through changes Commercial renewables availability was 94.3 percent versus a target of at least 95.0 percent. Duke Energy Corp. DUK recently unveiled its long-term investment plan along with increasing its current five-year capital target and clean energy projections at the company’s inaugural environmental, social and governance (ESG) day. Dubbed the Power/Forward Carolinas initiative, Duke had proposed grid hardening, resilience, advanced metering infrastructure, and smart grid investments. Our Sustainability Plan And Goals | Duke Energy 2019 Sustainability Report Learn more about how Duke Energy’s home protection plans can give you peace of mind. But Duke Energy’s Integrated Resource Plan (IRP) prevents the Carolinas from moving forward toward 100% renewable energy. and strengthening the culture that supports it. Read reviews about Duke Energy regarding plan options, customer service, prices, payments, services offered and more. “Duke Energy’s Electric Rates: Below U.S. Average.”. included and enabled to be successful in their roles. Improving the lives of our customers and communities. Protect your home, and your budget, from the unexpected. Does Duke Energy have a Direct Stock Purchase and Dividend Reinvestment Program? across the hiring life cycle. (See related graphic: “2020 Charitable Giving.”). and attain net-zero emissions by 2050. Safety – incident rate: During 2020, achieve an employee total incident case rate (TICR) of 0.37. The Duke Energy Choice Program allows electric & natural gas customers of Duke Energy to stay with the utility’s default service or choose an alternative electric and/or natural gas supplier. The role of the 2020 status: Over 70,000 hours were donated, mainly through virtual events. Seizing the opportunity to deliver cleaner energy. Duke Energy estimates your usage for the coming year, promises to charge you a monthly amount in keeping with that estimate, asks you to sign on the dotted line, and once you've signed you're in. Potential changes in state energy efficiency rules and requirements, and changes to utility avoided costs may have an impact on our future energy efficiency goals. Energy efficiency – consumption: Achieve a cumulative reduction in There is a tax provision that could allow you to distribute your stock and only pay tax on the cost basis under certain circumstances. All Rights Reserved. 2020 status: At year-end 2020, over 30 million tons of coal ash in the Carolinas Appalachian Voices’ Summer 2020 intern Sophia Palia contributed to the research and writing of this report. Customer delivery reliability was 87.7 versus a target of at least 100. The remaining high-priority N.C. excavation site plan is on track to be completed in 2022. This content is customized by location. 2020 status: As of year-end 2020, Duke Energy owned, operated or had under contract almost 8,800 MW of wind, solar and biomass. © Duke Energy Corporation. This comes at a high time when a handful of Utilities across the board are steadily ramping up their carbon-dioxide (CO2) emission reduction goals. Yes, the InvestorDirect Choice Plan. Your session will expire in {{countBack}} seconds, please select OK to continue your session. Duke Energy was one of the industry leaders for the sixth year in a row. peer U.S. utilities. Diversity and inclusion: Increase our workforce representation of females and race/ethnicity to 25 percent and 20 percent, respectively, by year-end 2020. of the importance of such issues. (This goal excludes Duke Energy Renewables, which has a relatively small waste stream.). Building a safe, diverse and engaged workforce. The Employees' Retirement Plan is a pension plan, designed to provide you with a guaranteed monthly income at your retirement, paid entirely by Duke. one “ready now” candidate and we have contingency plans in place for the other positions. Nuclear optimized reliability was 183.97 versus a target of less than 197.38. graphic: “Duke Energy’s Electric Rates: Below U.S. Average.”). Total 2020 charitable giving was $49.5 million. 2020 status: 82 percent of our senior management positions have at least (This goal includes 100 percent of the capacity of majority-owned assets that Duke Energy operates.). 2020 status: Approximately 80 percent of solid waste generated in 2020 was recycled. Opponents argue Duke Energy's plan for plant construction would cost billions more than necessary. Carbon emissions: Reduce the carbon dioxide (CO2) emissions U.S. energy company Duke Energy Corp (DUK.N) said on Wednesday that it plans to triple its renewable power output to 23% by 2030 from about 7% now, as … Updated goal: Stimulate growth in our communities and help attract at least 65,000 jobs and $30 billion in capital investments from 2017 through 2021. Knowing where your account is located will help us serve you better. 2020 status: Water withdrawals were approximately 4.90 trillion gallons, a reduction of 0.44 trillion gallons. We remain committed to improving the diversity of our workforce Natural gas business outage factor was missed due to an event that that caused a loss of service to over 500 customers. Updated goal: Maintain a cumulative reduction in summer peak demand of 7,000 MW (equivalent to 11.5 600-MW power plants) and create significant incremental winter peak-demand reductions by year-end 2025. from our generation fleet by at least 50 percent from the 2005 level by 2030 Duke Energy’s 15-year plan for the Carolinas seeks a massive buildout of new fracked-gas-burning power plants (over 50 units) and slow-walks cheaper renewables. In a 4-1 vote, the Public Service Commission supported Duke Energy’s “Clean Energy Connection Program” that will allow customers to voluntarily pay more on their electric bills to help finance the solar projects. © Duke Energy Corporation. Duke Energy Progress' 625-megawatt Sutton Combined Cycle Plant replaced a … Economic development: Stimulate growth in our communities and help attract at least 45,000 jobs and $23 billion in capital investments from 2017 through 2021. Transparency: Achieve top-quartile performance in disclosure, as measured by Bloomberg Environmental, Social and Governance (ESG) Disclosure Scores for our industry. Safety – fatalities: During 2020, achieve zero work-related fatalities. Energy efficiency – peak demand: Achieve a cumulative reduction But overall, Duke appears to have a good path laid out in support of its 4% to 6% annual earnings growth goal between 2020 and 2024. Under Duke Energy's proposed base plan without a carbon policy in place, megawatts of new gas generation capacity the company would build: 9,600. Optional cash purchases as low as $25 are also a benefit for Duke Energy investors. The Compensation and People Development Committee also incorporated a climate goal into the short-term and Midwest had been safely removed and stored in approved facilities. 2019 status: Releases of TRI chemicals to water were approximately 162,000 pounds in 2019. You automatically become a member of the plan if you are over age 21 and have completed one year of employment, working at least 1,000 hours. New goal - Employee engagement: Increase the likelihood of employees to recommend Duke Energy as a place to work to a friend or colleague. Duke Energy, headquartered in Charlotte, North Carolina, is the largest electric power holding company in the United States. Duke Energy publishes an annual Sustainability Report, reaffirming their plans to modernize the power grid, generate clean energy, transform the customer experience, and engage employees. Water withdrawals: Reduce water withdrawals by our generation fleet by 1 trillion gallons by 2030 from the 2016 level (5.34 trillion gallons). For more help, see. The Indiana closure plans are either approved Once you voluntarily agree to this program, your supplier will purchase electricity and/or natural gas for you. Under its proposed base plan with a carbon policy, megawatts of new gas generation capacity it would build: 7,350. 2020 status: As of year-end 2020, energy consumption was reduced by over 20,600 GWh. The Indiana Utility Regulatory Commission has 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.. And Duke fails to fund economic justice and frontline communities. (with some subject to legal challenges) or under review by the Indiana Department of Environmental Management. in peak demand of 6,900 MW (equivalent to 11.5 600-MW power plants) by year-end 2020. Affordable energy: Maintain electric rates lower than the national average. Duke also plans at least 2,050 megawatts of energy efficiency and demand response by 2035, and as much as 3,350 megawatts under its more aggressive carbon-reduction cases. More than two dozen cities, counties and corporations have submitted comments on the utility’s plan, which will dictate whether and how they achieve their own ambitious renewable energy goals. These releases are expected to decrease significantly as coal ash basins are closed. Duke Energy, as a regulated utility, is required to submit its future plans for its rates and energy mix every two years in an Integrated Resource Plan (IRP) for approval by the NC Utilities Commission. Sponsor Ad Residential Service $0.089116 per kWh Month-to-Month. bizjournals.com - Since mid-2019, Duke Energy Corp. has settled a major Carolinas coal-ash issue, sped up plans to close its remaining coal plants and targeted … Duke Energy's plan for closing coal plants sparks debate - Charlotte Business Journal - Flipboard Leadership: Advance leadership capabilities and bench strength. Call 513-457-4044 to Enroll in the Duke Managed Price Plan Now! 2020 status: Duke Energy’s electric rates in all six states we serve To show you Home Services, we need to know your location. Legal Challenge: Duke Energy Plan Would Supersize Climate Pollution, Waste Billions on Unused Power Plants - Center for Biological Diversity. As part of this focus, the Board specifically Releases to water: Reduce releases of TRI (Toxic Release Inventory) chemicals to water by half by 2030 from the 2016 level (212,000 pounds). Duke Energy Florida, LLC’s )’s(DEF TYSP is compiled in accordance with FPSC Rules 25-22.070 through 22.072, Florida Administrative Code. Duke Energy Plan Rates | Residential Service. Duke Energy’s recent climate report presents the monopoly company’s plan for attaining net-zero carbon emissions by 2050, but falls far short in moving with the urgency necessary to address the climate crisis. We will continue to develop and implement actions that help employees feel heard, the company to meet this goal during 2020. New goal – Methane emissions: The company announced a new goal in October 2020 to achieve net-zero methane emissions from our natural gas distribution business by 2030. Duke Energy Ohio is an electric and natural gas utility company that serves customers in southwest Ohio.The company serves approximately 840,000 residential, commercial and industrial customers spread across Cincinnati, Hamilton, Georgetown, Middletown, Williamsburg, and Bethel. They focus on creating customer value while minimizing environmental impact and providing agile energy services. Duke Energy, North Carolina officials and a conservation group announced Monday an agreement on how the utility pays to get rid of coal ash stored in the… Environment Regulators Get Plan … Delivering results with transparency and accountability. 2020 status: Duke Energy’s TSR results were: 7.4 percent over three years on an annualized basis, compared to the annualized UTY return of 10.5 percent. Disclosure Score of 61.89, the highest score listed by Bloomberg on that date for our For such clean energy expansion, Duke Energy aims to spend capital in the range of $65-$75 billion during the 2025-2029 period. Duke Energy offers DRIP investors one of the most attractive investment opportunities, which includes a no-fee DRIP plan and a dividend yield of almost 4%. all three of the N.C. House Bill 630 ash beneficiation units have commenced operation. Reliable energy: Maintain the high reliability of our electric and natural gas system during 2020. Duke Energy Reviews (Updated May 2021) | ConsumerAffairs Trending customer energy consumption of 20,000 GWh (equivalent to the annual usage of 1.67 million homes) by year-end 2020. 2020 status: Female representation was 23.3 percent, and racial/ethnic Duke is required to use the most inexpensive energy source. Duke Stock in your 401(k) An interesting tax-savings opportunity is available if you have Duke Energy Stock in your 401(k). incentive plan for leaders to align compensation to our 2030 and 2050 carbon emissions reduction goals. The timeline for this goal will be updated post-pandemic when external hiring stabilizes. Utility Duke Energy ... five-year spending plan. (equates to a reduction from 153 million tons to 75.5 million tons), Ash excavation activities are complete at three N.C. locations and one Kentucky location. 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