March 12, 2018 Read More →

CEO: Duke Energy to Propose Continuing Coal Phase-Out


One of America’s largest utility companies, Duke Energy, is set to release a report later this month that sketches a drastically changed electricity mix in a carbon-constrained future.

Duke is the latest energy company to commit to releasing a report about climate change in response to investor pressure conveyed by non-binding but symbolically important shareholder resolutions. Duke provides electricity to more than seven million customers in the Carolinas, the Midwest and Florida.

The report is expected to find that coal, currently 33% of Duke’s mix, gone entirely from its portfolio by 2050.

“What’s difficult about this is we are trying to overlay what we understand currently about technology,” Lynn Good, Duke CEO, told Axios.

She went on to say that this scenario of zero coal by 2050 doesn’t assume any breakthroughs in technology that captures carbon emissions from coal-fired power plants. “We don’t see that technology today, and we need to make economic decisions to get those units moving and replacing them with natural gas.”

More: Facing investor pressure, Duke Energy prepping climate report

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