Duke Energy promotes economic development and supports its communities through various aspects of its operations, including investment with suppliers, vendors and contractors.
In 2020, Duke Energy spent more than $11.7 billion purchasing goods and services to provide electricity and natural gas to our customers. Our Supplier Code of Conduct describes in detail our expectations of suppliers.
Duke Energy also rolled out an innovative new program during 2020 – Hire North Carolina – to maximize the use of locally owned and diverse contractors for major construction, extension and repair projects that exceed $700,000 in cost.
As part of this program, which is directed and overseen by the North Carolinas Utilities Commission, Duke Energy developed a list of resident contractors, including women- and minority-owned businesses, in order to expand the local contracting source pool for high-value work taking place in North Carolina, such as managing coal ash, upgrading or building plants and substations, and improving the grid.
Hire North Carolina is in alignment with and a complement to our supplier diversity initiative and our corporate responsibility sourcing strategy. We improve the vitality of our communities by consistently considering local economic impact, diversity and sustainability in our sourcing selection process. During 2020, Duke Energy spent more than $4 billion with local suppliers.
Spending with diverse suppliers was nearly $1.3 billion, with 30 percent of the spending from subcontracting by our prime contractors. Through the collaborative efforts of internal customers, prime contractors and our supply chain department, Duke Energy has spent more than $1 billion annually with diverse suppliers for six consecutive years.
Local, regional and national outreach efforts with educational institutions, trade associations, community economic development organizations and others create awareness of opportunities to work with Duke Energy.
The company presented several virtual business opportunity forums during the year. It also hosted the annual Energizing Powerful Connections (EPC) conference. EPC is sponsored by six southeastern energy companies and focused on best practices and strategies for minority-owned businesses.
As a testament to Duke Energy’s commitment to the equitable inclusion of local and diverse suppliers, it earned both the African American Chamber of Commerce of Central Florida (AACCCF) Corporation of the Year, and the National Association of Women Business Owners (NAWBO) Greater Raleigh Corporate Partner of the Year awards.