The electric and natural gas utility industry is
undergoing rapid transformation as it pivots to meet
rising customer service expectations, utilize the latest
technological developments and produce energy in the
most environmentally benign way available.
For Duke Energy, this transformative period presents a
great opportunity to move forward in four key areas:
Strengthen the company’s energy delivery system.
Duke Energy has developed a 10-year, $25-billion
plan to create a more modern, smarter energy grid.
In this era of transformation, the demands on the
grid have never been greater.
Generate cleaner energy using natural gas and renewables.
In the next 10 years, Duke Energy will invest $11 billion in highly efficient natural gas generation and renewable energy sources. By 2030, Duke Energy estimates that 36 percent of its electricity will be generated using natural gas and 9 percent will be generated using renewables – hydro, wind and solar.
These investments, coupled with the retirement
of older coal units, will help reduce the company’s
carbon dioxide emissions by 40 percent from the
2005 level by 2030. In addition to commercial
renewables, Duke Energy also will invest in regulated
Expand the company’s natural gas infrastructure to meet customer needs.
Natural gas will continue to play a major role in the future generation needs of
Duke Energy and the entire electric utility industry.
With its 2016 acquisition of Piedmont Natural
Gas, Duke Energy now operates a five-state gas
distribution business. The company also is a
part owner of the Atlantic Coast, Sabal Trail and
Constitution natural gas pipelines. The first two – both interstate pipelines – will bring much-needed
natural gas to the southeast U.S., spurring
economic growth that will benefit workers,
families and communities.
Increase customer satisfaction and continue stakeholder engagement.
Over the next 10 years,
Duke Energy will pursue a goal of achieving and
sustaining top-quartile customer satisfaction by
placing the customer at the center of everything the
Duke Energy also will continue to work
collaboratively with its various other stakeholders,
including community leaders, environmental groups,
business organizations, regulators, elected officials
and investors. Such collaboration is critical to the
In the next 10 years, Duke Energy will
invest $11 billion to increase highly efficient
natural gas generation to 35 percent of the
company’s electricity generation portfolio,
and increase renewable energy sources –
hydro, wind and solar – to 9 percent.
Moving Toward a Cleaner Generation Fleet and Increased Fuel Diversity
1 2005 and 2016 data based on Duke Energy’s ownership share of generation assets
as of Dec. 31, 2016.
2 2030 estimate will be influenced by
customer demand for electricity, weather,
fuel availability and prices.