Duke Energy 2014 Annual Report Download - page 10

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savings and fuel diversity for Duke Energy
Progress customers. The Federal Energy
Regulatory Commission granted approval in
November 2014. The parties are working
to secure the additional needed approvals
and legislation, with a target to close the
transaction in late 2015 or early 2016.
Also in 2014, we announced several
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gas-fueled power generation: almost
$2 billion for three Florida generation
projects and approximately $600 million
for a new combined-cycle power plant
in South Carolina.
Renewable energy has also become a
central part of Duke Energy’s growth
strategy, enabling us to respond effectively
to the strong customer interest in clean-
tech options while increasing the diversity
of our energy system. We anticipate
investing $2 billion to $3 billion in
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This includes a $500 million expansion
of solar energy in our regulated utility
business in North Carolina. It also
includes new projects by our commercial
renewables business, which in the past
eight years has invested more than
$4 billion in wind and solar facilities in
12 states. In February 2015, we bought
a majority stake in REC Solar, which
provides comprehensive commercial solar
and energy solutions nationwide. This
transaction expands our ability to help
business customers reduce energy costs
and achieve sustainability goals.
Last year, Duke Energy helped pave the
way for solar energy development in
South Carolina. We were instrumental
in collaborative stakeholder efforts that
resulted in the state’s comprehensive
Distributed Energy Resource Program
Act of 2014 and an agreement on a
balanced path to determine energy credits
and incentives for customers who install
solar. In February 2015, Duke Energy
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solar installations in the state as well as
community-scale and larger utility-scale
solar facilities.
Connected to customers
and communities
Approximately 23 million people across
six states rely on Duke Energy for electric
and natural gas service. We touch many
additional lives through our nonregulated
commercial businesses in the U.S. and
Latin America. Our long-term success
as a business depends on how well we
serve customers’ needs and adapt to
their changing expectations. It’s also very
personal. Our employees live and work
in these communities. Consequently, we
never take the privilege and responsibility
of our mission for granted.
We are taking steps to improve our
customers’ experience when they interact
with Duke Energy. For example, we are
identifying new and better ways to
communicate with our customers about
power outages and restoration, as well as
making account setup and payment more
convenient. We’re also digging deeper to
understand our customers’ different needs
and expectations for customized new
products and services.
Connected to
what’s next:
We’ve invested
more than
$4 billion in
wind and solar
in 12 states.