2022-05-05 | NYSE: DUKE | Press release

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  • Lynn Good says company is “leading the largest clean energy transition” in the United States
  • Customer orientation and energy accessibility remain key priorities.

CHARLOTTE, North Carolina, May 5, 2022 /PRNewswire/ — Duke Energy (NYSE: DUK) in 2021 continued to make rapid progress in its multi-year transition to clean energy sources, Chairman, President and Chief Executive Officer Lynn Good told investors at the company’s annual meeting of shareholders today.

“Our more than 27,000 teammates have rallied behind our mission to achieve net zero emissions by 2050,” she said. “Our promise is to continue this momentum. Our five-year enterprise capital plan includes $63 billion of investment, and 80% is dedicated to our transition to clean energy.”

Good cited several milestones:

  • “We have exceeded 10,000 megawatts of renewables owned, operated or purchased on our system, and remain on track to reach 16,000 megawatts of renewables by 2025 and 24,000 megawatts by 2030.
  • “We have applied for subsequent license renewals for the Oconee Nuclear Generating Station – our largest nuclear power plant – and plan to file applications for our remaining units to sustain this vital source of carbon-free energy for another 20 years. .
  • “We have worked with stakeholders to help gain bipartisan support in what is being called the most comprehensive energy legislation in the world. North Carolina landmark – leading the way in carbon reduction and regulatory reform.
  • “We look forward to presenting a carbon plan to the North Carolina Public Utilities Commission later this month that will chart a variety of pathways to achieve a 70% reduction in carbon emissions.
  • “We continued to oversee our industry’s largest planned coal retirement. We retired nearly 1,000 megawatts of coal between the Carolinas and Indiana – bringing us to 7,500 megawatts withdrawn since 2010.”

“Already in 2022, we have taken aggressive action, expanding our net zero emissions goal to include scope 2 emissions and some scope 3 emissions. We have also announced that we are targeting coal power to account for less than 5 % of our total production by 2030, and full output by 2035,” she said.

“We look forward to continued progress towards our goals across all of our jurisdictions – removing coal units, adding renewables and battery storage, investing in the grid, advocating for new zero-emissions technologies and collaborating with state and federal policymakers, regulators and stakeholders to meet the unique needs of each state,” said Good.

Customer orientation, energy accessibility

In 2021, “we continued to exceed our benchmarks for our internal customer satisfaction metrics and improved our JD Power rankings, year after year, in nearly all of our jurisdictions,” she said.

Duke Energy also continued to work actively to keep energy affordable for customers.

The company offered energy-saving tips and innovative efficiency programs to help customers manage and reduce their energy consumption. For example, the Home Energy House Call is a free home energy assessment that provides customers with comprehensive information on how they use energy – and strategies to save money on their monthly energy bills.

In addition, Duke Energy has worked hard to help customers in financial difficulty, offering personalized bill payment programs, connecting customers with financial assistance programs run by government agencies and non-profit organizations. nonprofit, and donating to community organizations that help individuals and families in need.

In 2021, the company established a dedicated team of customer advocates to partner with government aid agencies and nonprofits. Through this model, the company has helped customers receive more $100 million financial support to help them pay their energy bills.

Duke Energy has also helped low-income customers pay their utility bills, providing $3.2 million through the Share the Light Fund and other donations.

other business

Also at today’s meeting:

  • Good at answering shareholder questions on a range of topics. The company will post the answers to the questions on its website.
  • Shareholders elected the 14 nominees to the company’s board of directors.
  • A non-binding shareholder proposal did not receive a majority of votes cast by shareholders.

A replay of the meeting will be posted on Duke Energy investors page.

duke energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, North Carolina, is one of the largest energy holding companies in the United States. Its electric utilities serve 8.2 million customers in North Carolina, Caroline from the south, Florida, Indiana, Ohio and Kentucky, and collectively possess 50,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, Caroline from the south, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to meet its goals of net methane emissions from its natural gas business and at least 50% carbon reduction from power generation by 2030 and net emissions carbon emissions by 2050. Zero goals also include Scope 2 emissions and some Scope 3 emissions. zero-emission power generation such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” list and Forbes’ “America’s Top Employers” list. More information is available at duke-energy.com. The Duke Energy News Center contains press releases, fact sheets, photos and videos. Duke Energy lighting features stories about people, innovations, community issues and environmental issues. Follow Duke Energy on Twitter, LinkedIn, instagram and Facebook.

Media contact: Neil Nissan

800.559.3853

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