Duke Energy supports climate change policies that will result in reductions in greenhouse gas (GHG) emissions at achievable rates over time while balancing impacts to our customers’ rates, the economies of our service territories and the reliability that our customers count on.

We have taken a number of significant actions that have reduced our CO2 emissions. Clean, innovative, natural gas plants are being built and many older, less efficient generating units have been retired (with plans to close more in the future). The company also offers its customers a variety of energy efficiency and conservation programs to help them reduce their electricity consumption in a cost-effective manner. In addition, Duke Energy continues to add wind and solar power to its generation portfolio.

The U.S. Environmental Protection Agency (EPA) has proposed regulating CO2 from new, existing and modified or reconstructed fossil fuel plants under section 111 of the Clean Air Act (referred to as the Clean Power Plan). Duke Energy thinks that creating a national energy policy would best be accomplished through comprehensive federal legislation, rather than a regulatory approach like the one proposed in the EPA’s Clean Power Plan.

Duke Energy established voluntary carbon reduction goals in 2010. The goals – which were updated in the company’s 2012 Sustainability Report after the merger between Duke Energy and Progress Energy – reflect Duke Energy’s aspiration to reduce or offset the company’s generation fleet CO2 emissions by 17 percent below its 2005 level by 2020. Duke Energy achieved this level of emission reduction earlier than anticipated. However, the company’s current forecasts suggest it will experience a gradual increase in CO2 emissions in the years ahead as the economy continues to recover and the demand for electricity increases. Fluctuations in fuel prices could also contribute to increased emissions.

Duke Energy will continue to be actively engaged in the development of the EPA’s CO2 regulations with the focus on outcomes that are in the best interest of customers and shareholders. The company will also continue to modernize its generation fleet and implement technologies to improve efficiency, which will help continue to lower CO2 emissions.