NewEnergyNews: TODAY’S STUDY: A Deeper Look At Utilities – Duke/Progress Energy

NewEnergyNews

Gleanings from the web and the world, condensed for convenience, illustrated for enlightenment, arranged for impact...

December 7, 1941: Time to forgive but not forget.

The challenge now: To make every day Earth Day.

YESTERDAY

  • TODAY’S STUDY: How To Balance Competing Solar Interests
  • QUICK NEWS, December 6: Sliver Of Hope? Al Gore In Climate Change Meet With Donald Trump; The Opportunity In New Energy; Google Seizing New Energy Opportunity
  • THE DAY BEFORE

  • TODAY’S STUDY: A Way For New Energy To Meet Peak Demand
  • QUICK NEWS, December 5: Trial Of The Century Coming On Climate; The Wind-Solar Synergy; The Still Rising Sales Of Cars With Plugs
  • THE DAY BEFORE THE DAY BEFORE

  • Weekend Video: Trump Truth And Climate Change
  • Weekend Video: The Daily Show Talks Pipeline Politics
  • Weekend Video: Beyond Polar Bears – The Real Science Of Climate Change
  • THE DAY BEFORE THAT

  • FRIDAY WORLD HEADLINE-Aussie Farmers Worrying About Climate Change
  • FRIDAY WORLD HEADLINE-The Climate Change Solution At Hand, Part 1
  • FRIDAY WORLD HEADLINE-The Climate Change Solution At Hand, Part 2
  • FRIDAY WORLD HEADLINE-New Energy And Historic Buildings In Europe
  • AND THE DAY BEFORE THAT

    THINGS-TO-THINK-ABOUT THURSDAY, December 1:

  • TTTA Thursday-First Daughter Ivanka May Fight For Climate
  • TTTA Thursday-Low Profile High Power Ocean Wind Energy
  • TTTA Thursday-A Visionary Solar Power Plant
  • TTTA Thursday-EVs Have A Growth Path
  • THE LAST DAY UP HERE

  • ORIGINAL REPORTING: How The Clean Power Plan Drove The Utility Power Mix Transition
  • ORIGINAL REPORTING: How Utilities Are Answering The Distributed Energy Resources Challenge
  • ORIGINAL REPORTING: Looking At New Rates To Unlock The Utility Of The Future
  • --------------------------

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    Anne B. Butterfield of Daily Camera and Huffington Post, f is an occasional contributor to NewEnergyNews

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    Some of Anne's contributions:

  • Another Tipping Point: US Coal Supply Decline So Real Even West Virginia Concurs (REPORT), November 26, 2013
  • SOLAR FOR ME BUT NOT FOR THEE ~ Xcel's Push to Undermine Rooftop Solar, September 20, 2013
  • NEW BILLS AND NEW BIRDS in Colorado's recent session, May 20, 2013
  • Lies, damned lies and politicians (October 8, 2012)
  • Colorado's Elegant Solution to Fracking (April 23, 2012)
  • Shale Gas: From Geologic Bubble to Economic Bubble (March 15, 2012)
  • Taken for granted no more (February 5, 2012)
  • The Republican clown car circus (January 6, 2012)
  • Twenty-Somethings of Colorado With Skin in the Game (November 22, 2011)
  • Occupy, Xcel, and the Mother of All Cliffs (October 31, 2011)
  • Boulder Can Own Its Power With Distributed Generation (June 7, 2011)
  • The Plunging Cost of Renewables and Boulder's Energy Future (April 19, 2011)
  • Paddling Down the River Denial (January 12, 2011)
  • The Fox (News) That Jumped the Shark (December 16, 2010)
  • Click here for an archive of Butterfield columns

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    Some details about NewEnergyNews and the man behind the curtain: Herman K. Trabish, Agua Dulce, CA., Doctor with my hands, Writer with my head, Student of New Energy and Human Experience with my heart

    email: herman@NewEnergyNews.net

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      A tip of the NewEnergyNews cap to Phillip Garcia for crucial assistance in the design implementation of this site. Thanks, Phillip.

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    Pay a visit to the HARRY BOYKOFF page at Basketball Reference, sponsored by NewEnergyNews and Oil In Their Blood.

  • ---------------
  • TODAY AT NewEnergyNews, December 7:

  • ORIGINAL REPORTING: Turning Distributed Energy From Threat To Opportunity
  • ORIGINAL REPORTING: Solar Policy Action Heats Up
  • ORIGINAL REPORTING: Maine’s Almost Solar Policy Breakthrough

    Monday, August 15, 2016

    TODAY’S STUDY: A Deeper Look At Utilities – Duke/Progress Energy

    Duke Energy/Progress Energy

    Nancy LaPlaca, July 2016 (Energy and Policy Institute)

    Summary

    Duke Energy, based in North Carolina, is the largest electric utility in the world. Duke emits more carbon pollution than any other US utility, and ranks first in fossil fuel generation and second in coal-fired generation. The majority of Duke’s business is in regulated, monopoly utilities in six U.S. states (North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky). While Duke also owns a commercial arm that has invested in wind and solar power that it sells to other utilities, Duke’s electricity customers in its regulated territory receive an electricity mix that contains next to zero renewable energy. The company has shown little appetite for change: regulatory documents show it intends to power with only 4% renewable power in North Carolina, its largest state, by 2029.

    Duke’s fossil and nuclear-dominated strategy have led to a series of scandals in recent years both for its customers and the environment. Duke’s coal ash waste has become a systemic disaster in the Carolinas, culminating in the 2014 coal ash spill on the Dan River. Nuclear construction projects in the Carolinas and particularly Florida have been beset by problems, costing ratepayers billions of dollars.

    Duke has protected itself from stricter oversight in its regulated operations by contributing heavily to the state and federal politicians that control its destiny, pouring millions of dollars into campaign contributions and lobbying. Despite massive pressures facing the electric power sector to adapt to technological change that is ushering in a new wave of energy efficiency, rooftop solar power, and distributed energy storage, Duke has yet to show much of an appetite for change. It has aggressively fought efforts to open up North Carolina’s and Florida’s market to non-utility solar providers in an effort to preserve its monopoly business model.

    Basics

    Duke Energy, headquartered in Charlotte, North Carolina, is the largest electric power holding company in the U.S. and world as measured by number of customers: 7.4 million meters in the U.S.; and by market value ($52.1 billion as of 2/16/16) and capacity (52.7 GW). (NOTE: if the Pepco-Exelon merger is completed, Duke Energy will then be second largest.)

    Duke Energy completed its $32 billion merger with Progress Energy in 2012, despite “secret side deals” that were not made public. Duke Energy paid $146 million in 2015 to settle lawsuits that arose from the merger.

    Duke Energy:

    -total operating revenues 2015: $23.5 billion

    -total assets (power plants, etc.) 2015: $121 billion

    -total employees: 29,188

    Despite earning $9.2 billion in profits from 2008-2012, Duke Energy had a negative 3.3% tax rate during that time, and received $299 million in tax rebates. A July 2015 study found that Duke Energy is the worst climate offender of all U.S. utilities. Duke Energy was number one for CO2 emissions (136 million tons), and is one of the top SO2 (‘acid rain’) emitters. Duke Energy was #1 in fossil generation, and #2 in coal generation.

    A September 2015 study gave Duke Energy an “F,” which it awarded to only four corporations. The report noted that while Duke Energy touts its clean energy portfolio, it actively opposes the Clean Power Plan, and gutted Florida energy efficiency goals by over 90%.

    In Florida, a group of utilities, including Duke Energy, have spent $4 million to stop a ballot initiative that would expand distributed solar. Duke Energy’s share so far (as of 5/1/16) is $1.2 million. The third-party sales ban is widely recognized as one reason that Florida’s solar market is so underdeveloped.

    In July 2015, the Orlando Utilities Commission (OUC), a municipally owned and operated utility, signed a 20-year contract to purchase solar power at 7 cents/kWh, while gas or coal costs 8 cents/kWh. This is a steep drop from the 19 cents/kWh solar deal the OUC built four years earlier, showing an alternative pathway for Duke Energy if it chose to embrace solar power in Florida…

    DUKE ENERGY’S OVERBLOWN CLEAN ENERGY CLAIMS

    Duke Energy frequently touts the 3,000 MW of clean energy it owns, but Duke Energy Regulated, which is the monopoly that operates in six states (North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky), owns only 66 MW of clean energy, out of a total of over 50,000 MW of power as of March 31, 2016, while Duke Energy Commercial owns nearly 2,500 MW of solar and wind.

    Duke Energy operates as a monopoly in its regulated states, so that homeowners and businesses can’t purchase electricity from any company or person other than Duke Energy. While Duke Energy purports to own a lot of solar, it only owns 66 MW of solar, while Duke Energy’s unregulated subsidiary, Duke Energy Renewables, owns 2,400 MW of solar and wind. Using the names interchangeably is misleading, since they are legally separate entities.

    NC, SC, FL and KY all limit the use of “third party” solar financing, resulting in Duke Energy’s virtual solar monopoly in these states. (At least 98% of North Carolina’s 2,000 MW of solar is due to a federal law, PURPA, which Duke Energy has fought to limit. Solar development in North Carolina in 2014 and 2015 would have been seriously curtailed if Duke Energy had been successful at the North Carolina Utilities Commission in changing the terms of the solar PURPA contracts by: (1) limiting the contract length to 5 years and (2) standardizing contracts only up to 100 kW rather than the current 5 MW.)

    Duke Energy and Coal Ash… Duke and Natural Gas… Duke Energy’s Nuclear Problems in Florida… Duke Energy’s Money in Politics… DUKE ENERGY INDIANA… Duke Energy and Environmental Justice…

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