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9 May, 2024
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7 May, 2024
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A Leading Energy Company

Duke Energy is an American company headquartered in Charlotte, North Carolina. The company is a significant player in the American energy market and owns over 58,000 megawatts of base load and generation in the US. The company has traditionally generated most of its electricity through coal and nuclear power but also operates hydroelectric generation stations. Duke Energy primarily operates in the midwest and southern parts of the United States, and its shares are listed on the NYSE.

Supplying Cotton Mills

Duke Energy traces its roots back to the early 20th century when in1900, Dr. Walker Gill Wylie founded the Catawba Power Company to supply electricity to cotton mills in the Carolinas. This endeavor, with financial assistance from James Buchanan Duke, expanded rapidly, leading to the creation of the Southern Power Company in 1905. Over the decades, the company transformed and rebranded several times through mergers and expansions and solidified its place in the US energy market. The most notable merger occurred in 2012, when Duke Energy merged with Progress Energy, solidifying its position as one of the largest electric power companies in the United States.

One of The country’s Largest

Duke Energy is one of the largest electric power holding companies in the United States, serving millions of customers from the Midwest to the Southeast. The company is responsible for the generation, transmission, and distribution of electricity to residential, commercial, and industrial consumers. As previously mentioned, the company generates its electricity through a variety of different methods but is slowly but surely starting to shift out coal in favor of nuclear and renewable electricity sources.

Duke Energy has plenty of publicly traded peers, and a list of these would not be complete without mentioning NextEra, AEP, and Exelon.

Moving Into Renewables

Duke Energy has progressively expanded its involvement in renewable energy sources, reflecting a broader industry shift towards sustainability. A significant portion of its renewable capacity comes from hydroelectric power, with multiple hydro plants in operation. Furthermore, the company has invested in both wind and solar power in recent years.