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Duke Energy Boosts Renewable Spending After State Law on Carbon Cuts

  • Company plans to spend $15 billion on zero-carbon generation
  • CFO Steve Young also said Duke considering offshore wind bid
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Duke Energy CEO: Well Positioned to Deliver 5-7% Growth
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Duke Energy Corp. boosted spending plans on carbon-free power after a law in its home state mandated deep cuts in greenhouse-gas emissions.

Duke, one of the largest U.S. electric utilities, raised its five-year capital spending plan about 7% to $63 billion, it said in a fourth-quarter earnings statement Thursday. The increase is mostly on new renewable generation and was driven by the North Carolina law, Chief Financial Officer Steve Young said in an interview.