Duke Energy prepares for electric utility industry’s rapidly changing future
The electric utility industry is in transition:
- Customer expectations are evolving. Customers now expect more convenience, choice and control with even greater reliability and value.
- Rapidly changing technology is reshaping the way our customers consume electricity. This includes distributed generation, like rooftop solar, and energy management technologies.
- Greater energy efficiency is flattening growth in energy consumption.
- Cleaner fuel choices are becoming even more important as we move toward a lower-carbon future.
- New public policies, like environmental regulations, are shaping the energy landscape.
After closely examining these trends and their implications, Duke Energy developed “The Road Ahead,” our long-term strategy to guide investments and deliver greater value to customers:
- Transform the customer experience: To give customers the experience they want, we are investing in innovation and new technologies – services like usage alerts, outage notifications and customized billing options.
- Modernize the power grid: We are investing in a more resilient power delivery system, decreasing outages and enabling faster restoration. We are also developing an advanced two-way power grid to accommodate more renewable energy and emerging technologies such as battery storage and microgrids.
- Generate cleaner energy: We are continuing our efforts to decrease greenhouse gas emissions in a way that preserves affordable rates and reliability. We are shifting our generation mix to more natural gas and renewable energy.
- Engage employees and other stakeholders: We will mobilize the ideas of employees to ensure operational excellence. Externally, we will engage regulators, policymakers, customers and others to discuss industry changes and the path forward.
No matter how quickly or significantly the industry changes, Duke Energy will continue to lead the way to cleaner, smarter energy solutions. For more information, please read “Planning for the Future” in the online edition of this report.