Duke Energy 2012 Annual Report Download - page 9

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important part of the Duke Energy portfolio. They
provide us with diversity in revenue streams, geography
and fuel mix. Our Latin American operations provide
valuable exposure to higher-growth markets. We’re
also gaining substantial experience with renewable
energy, which is becoming increasingly important.
Duke Energy International (DEI) owns, operates
or has substantial interests in almost 4,600
megawatts of highly contracted generation in Latin
America, with self-funding cash flows. About two-
thirds of DEI’s capacity is hydroelectric. During
2012, we entered Chile, which has a favorable
political and economic climate.
We have about 7,000 megawatts of Midwest
commercial electric-generating capacity. These
power plants, fueled by coal, natural gas and oil,
are well-positioned to meet new environmental
regulations. The financial returns of the plants are
challenged by the currently low capacity prices and
energy margins in the PJM markets.
That’s why we have filed with Ohio regulators for
the ability to earn appropriate cost-based capacity
payments. The outcome of this regulatory filing will
inform our strategic decisions about these plants.
Our nonregulated renewable energy business
continues to grow. During 2012, we completed
five new wind farms and three new solar farms.
Our growing wind and solar portfolio includes
more than 1,700 megawatts of electric-
generating capacity.
From left to right: B. Keith Trent Executive Vice President and Chief Operating Officer – Regulated Utilities Lynn J. Good Executive Vice President and Chief Financial Officer
Lloyd M. Yates Executive Vice President – Regulated Utilities Lee T. Mazzocchi Senior Vice President and Chief Integration and Innovation Officer James E. Rogers Chairman, President
and Chief Executive Officer Jennifer L. Weber Executive Vice President and Chief Human Resources Officer Marc E. Manly Executive Vice President and President – Commercial
Businesses Dhiaa M. Jamil Executive Vice President and President – Duke Energy Nuclear Julie S. Janson Executive Vice President, Chief Legal Officer and Corporate Secretary
Senior Management Committee
Chairman’s Letter to Stakeholders
7