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Duke Energy
Duke Energy

Energy / Utilities and Energy Services

At a Glance | Core Facts | Company | Industry | Competitors | Stock Swings | News | Income | Balance | Cash Flow | Growth | Enterprise | Ratios | Metrics | Dividends | Risks | SWOT | Porter's Five Forces | PEST | Score Positive | Clusters | Reports | Web
Overview

Duke Energy is an American electric power holding company headquartered in Charlotte, North Carolina. It was founded in 1904 as the Catawba Power Company, and has over 7 million retail electric customers and 500,000 gas customers. Duke Energy operates in six states in the Southeast and Midwest regions of the United States: North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.
The company's primary business is generating, transmitting, and distributing electricity, but it also has natural gas distribution operations. Duke Energy's electric utility operations include both regulated and non-regulated businesses, with the regulated utility making up the majority of its business. The company also owns several wind and solar energy projects, making it one of the largest renewable energy generators in the US.
Duke Energy is committed to sustainability and has set goals to reduce its carbon footprint and increase its use of renewable energy sources. It also has a strong focus on community involvement and partners with organizations to improve education, economic development, and the environment.
In addition, Duke Energy has faced some controversy in recent years, including lawsuits related to coal ash pollution and a massive coal ash spill in North Carolina in 2014. The company has taken steps to address these issues and improve its environmental practices.
Overall, Duke Energy is a significant player in the energy industry, providing reliable electricity and natural gas services to millions of customers while working towards a more sustainable future.

What is special about the company?

1. History and Legacy: Duke Energy has a long and rich history dating back to the early 20th century. The company has evolved from a small regional utility company to become one of the largest electric power holding companies in the United States.
2. Size and Scope: Duke Energy is one of the largest energy companies in the United States, with operations in six states and over 7 million customers. The company also has a significant presence in Latin America.
3. Diversified Energy Portfolio: Duke Energy has a diversified portfolio that includes electric and gas utilities, renewable energy, and other energy services. This allows the company to meet the energy needs of its customers while also being a leader in the transition to a cleaner energy future.
4. Commitment to Sustainability: Duke Energy has set a goal to achieve net-zero carbon emissions by 2050 and has committed to a long-term plan to reduce its environmental impact. The company has also invested in renewable energy projects and is a leader in the development of clean energy solutions.
5. Community Involvement: Duke Energy is committed to giving back to the communities it serves. The company supports various educational, environmental, and social initiatives, and its employees actively volunteer in their local communities.
6. Innovation and Technology: Duke Energy is at the forefront of innovation and technology in the energy industry. The company is investing in new technologies such as smart grid systems, energy storage, and electric vehicle charging infrastructure to improve its operations and better serve its customers.
7. Strong Financial Performance: Duke Energy has a proven track record of strong financial performance, providing reliable and affordable energy to its customers while delivering value to its shareholders.
8. Employee Safety and Diversity: Duke Energy has a strong focus on the safety and well-being of its employees and has established a culture of diversity and inclusion. The company has received numerous awards for its commitment to workplace safety and diversity.
9. Commitment to Customers: Duke Energy is dedicated to providing reliable and affordable energy to its customers while also being responsive to their needs. The company has implemented various programs and services to help customers better manage their energy usage and bills.
10. Strong Corporate Governance: Duke Energy follows best practices in corporate governance, with a focus on transparency, ethical behavior, and responsible decision-making. The company has a strong and independent board of directors and a comprehensive code of conduct to guide its operations.

What the company's business model?

The Duke Energy company is a multinational energy company that mainly operates in the United States and Latin America. The company's business model is primarily focused on the production, distribution, and sale of electricity and natural gas.
The company operates through three main business segments: Electric Utilities and Infrastructure, Gas Utilities, and Commercial Renewables.
The Electric Utilities and Infrastructure segment involves the generation, transmission, and distribution of electricity to residential, commercial, and industrial customers. This segment also includes the operation of power plants, grid maintenance, and energy trading activities.
The Gas Utilities segment is responsible for the production, transportation, and distribution of natural gas to homes, businesses, and industries. This segment also includes the operation of gas storage facilities and transportation pipelines.
The Commercial Renewables segment focuses on the development, construction, and operation of renewable energy assets such as wind and solar farms. This segment also includes energy management services, energy storage systems, and energy efficiency solutions for commercial and industrial customers.
In addition to its main business segments, Duke Energy also has a customer solutions segment, which provides energy-related products and services across all its operating regions. This segment includes services such as home and business energy audits, installation of energy-efficient equipment, and energy management systems.
Overall, Duke Energy's business model is centered around providing reliable and affordable energy to its customers while also investing in renewable energy solutions and promoting sustainability. The company also prioritizes safety and operational excellence in all its operations.

Interesting facts about the company

1. Duke Energy was founded in 1904 when founder James Buchanan Duke merged his three electric and gas companies to create the Southern Power Company.
2. The company was originally called the Southern Company, but it was changed to Duke Power after James Buchanan Duke’s death in 1925.
3. Duke Energy is one of the largest energy holding companies in the United States, serving approximately 7.7 million customers in six states.
4. In addition to providing electricity, the company also has operations in natural gas and renewable energy, with a growing portfolio of wind and solar projects.
5. Duke Energy has a strong commitment to sustainability and has set a goal to reduce its carbon emissions by 40% by 2030.
6. The company has been recognized for its sustainability efforts, including being named one of the World’s Most Ethical Companies by the Ethisphere Institute for 12 consecutive years.
7. Duke Energy is a major contributor to economic development, investing billions of dollars in infrastructure and creating thousands of jobs in the communities it serves.
8. The company also has a strong philanthropic presence, with its foundation providing grants to support education, the environment, and community development.
9. In 2019, Duke Energy was ranked #139 on the Fortune 500 list of the largest companies in the United States.
10. Despite its size and success, Duke Energy has faced controversy and criticism for its handling of environmental issues and for lobbying efforts against renewable energy policies.

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