Duke Energy Corporation operates as an energy company. The company’s direct and indirect wholly owned subsidiaries include Duke Energy Carolinas, LLC (Duke Energy Carolinas), Duke Energy Progress, Inc. (Duke Energy Progress), Duke Energy Florida, Inc. (Duke Energy Florida), Duke Energy Ohio, Inc., and Duke Energy Indiana, Inc. The company’s activities are subject to regulation by the Federal Energy Regulatory Commission (FERC). Segments The company conducts its operations in three segments: Regulated Utilities, International Energy and Commercial Power. Regulated Utilities The Regulated Utilities segment conducts operations primarily through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and the regulated transmission and distribution operations of Duke Energy Ohio. These electric and gas operations are subject to the rules and regulations of the FERC, the North Carolina Utilities Commission (NCUC), the Public Service Commission of South Carolina (PSCSC), the Florida Public Service Commission (FPSC), the Public Utilities Commission of Ohio (PUCO), the Indiana Utility Regulatory Commission (IURC), and the Kentucky Public Service Commission (KPSC). This segment serves 7.2 million retail electric customers in six states in the Southeast and Midwest regions of the United States. Its service area covers approximately 104,000 square miles. The company serves 500,000 retail natural gas customers in southwestern Ohio and northern Kentucky. Electricity is also sold wholesale to incorporated municipalities, electric cooperative utilities and other load-serving entities. This segment owns approximately 50,000 megawatts (MW) of generation capacity. Seasonality: Peak sales of electricity occur during the summer and winter months, resulting in higher revenue and cash flows in these periods. By contrast, lower sales of electricity occur during the spring and fall, allowing for scheduled plant maintenance. Peak gas sales occur during the winter months. Nuclear Matters: This segment owns, wholly or partially, 12 nuclear reactors located at 7 stations. Nuclear insurance includes: nuclear liability coverage; property, decontamination and premature decommissioning coverage; and replacement power expense coverage. INTERNATIONAL ENERGY The International Energy segment principally operates and manages power generation facilities, and engages in sales and marketing of electric power, natural gas, and natural gas liquids outside the U.S. Its activities principally target power generation in Latin America. Additionally, the company owns a 25 percent interest in National Methanol Company (NMC), a producer of methanol and methyl tertiary butyl ether (MTBE) located in Saudi Arabia. This segment’s customers include retail distributors, electric utilities, independent power producers, marketers, and industrial and commercial companies. COMMERCIAL POWER The Commercial Power segment owns, operates and manages power plants, and engages in the wholesale marketing and procurement of electric power, fuel and emission allowances related to these plants, as well as other contractual positions. The Commercial Power segment’s generation operations consist primarily of Duke Energy Ohio’s coal-fired and gas-fired nonregulated generation assets located in the Midwest region of the United States, and wind and solar generation located throughout the United States. The asset portfolio has a diversified fuel mix with baseload and mid-merit coal-fired units, as well as combined cycle and peaking natural gas-fired units. Significant Events In December 2013, the company sold its interest in DukeNet Communications Holdings, LLC (DukeNet) to Time Warner Cable, Inc. In June 2014, Duke Energy announced it is asking for permission to build a ‘dry storage’ facility that would house spent fuel from the Crystal River nuclear power plant. In September 2014, Dominion, Duke Energy, Piedmont Natural Gas and AGL Resources announced the formation of a joint venture to build and own the proposed Atlantic Coast Pipeline. In December 2014, Duke Energy announced that it received regulatory approval from the North Carolina Utilities Commission to acquire and construct three large solar facilities in eastern North Carolina with 128 megawatts of total capacity. In December 2014, Duke Energy had acquired a 20-megawatt solar project in Roanoke Rapids, North Carolina, from Geenex and ET Solar Energy Corp. In January 2015, Duke Energy Corporation has signed 20-year agreements with three solar developers to purchase up to 20MW of solar power for its Indiana customers. In January 2015, Duke Energy (DUK) partnered with the Department of the Navy and the U.S. Marine Corps to build 13-megawatt (AC) solar facility being built at the Marine Corps Base Camp Lejeune in Onslow County, N.C. History Duke Energy Corporation was founded in 1916.
duke energy corp
(D2MN:Stuttgart Stock Exchange)
550 South Tryon Street
Charlotte, NC 28202
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