Duke Energy is an American utility company headquartered in Charlotte, North Carolina. The company was founded in 1904 as the Catawba Power Company and has since grown to become one of the largest energy holding companies in the United States, providing electricity to over 7 million customers in the southeast and Midwest regions. Duke Energy operates both regulated and unregulated businesses, with regulated businesses accounting for the majority of their revenue.
Duke Energy's regulated utilities are primarily involved in generating and distributing electricity to residential, commercial, and industrial customers in the southeast and Midwest regions of the United States. These utilities include Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and Duke Energy Ohio & Kentucky. In addition to electricity, Duke Energy also provides natural gas to customers in Ohio and Kentucky through its regulated subsidiary, Duke Energy Ohio & Kentucky Gas.
The unregulated businesses of Duke Energy include Duke Energy Renewables, which develops, constructs, and operates wind and solar energy projects throughout the United States, and Duke Energy International, which operates power generation facilities in Latin America and the Caribbean. The company is also involved in the development of advanced technologies to improve the efficiency and reliability of the power grid, such as energy storage and electric vehicle charging infrastructure.
Duke Energy is committed to reducing its environmental impact through various sustainability initiatives, such as increasing the use of renewable energy and reducing greenhouse gas emissions. The company has set a goal to achieve net-zero carbon emissions by 2050 and has made significant investments in renewable energy projects to help achieve this goal. In addition, Duke Energy has implemented various energy efficiency programs to help customers reduce their energy consumption and lower their energy bills.
Despite its efforts to reduce its environmental impact, Duke Energy has faced criticism in recent years over its handling of coal ash disposal and the impact of its operations on nearby communities. The company has been fined millions of dollars for environmental violations related to coal ash storage and disposal, and has faced lawsuits from residents living near its power plants who claim to have been harmed by toxic pollutants.