The declining cost of storage batteries means far less natural gas capacity is needed for peak demand times: Prices for projects combining solar and storage are nowoften cheaperthan new natural gas plants. For example, Duke Energy reported that the $2.05 billion purchase price in the Duke Indiana-GIC transaction represented a "significant premium to Duke Energy's current public equity valuation." *The EWG approach to scoring is much simpler than ACEEEs and tends to provide higher scores than ACEEE. A comparison of valuation ratios and expected growth through 2025 highlight Amazon as a "happy medium" among the biggest tech companies. . They provide electrical services to the consumers who own them. 2https://windexchange.energy.gov/maps-data/321, 3https://windexchange.energy.gov/maps-data/321, 5https://www.nrel.gov/docs/fy12osti/51946.pdf, 6https://www.nrel.gov/docs/fy12osti/51946.pdf, 8https://aceee.org/research-report/u1707, 9https://www.eia.gov/electricity/data/eia861/. Electric utility Duke Energy agreed to sell its commercial distributed-generation business to an affiliate of private equity giant ArcLight Capital Partners for $364 million.. Why it matters: The nine-figure deal is the latest step by Duke to extricate itself from unregulated electricity markets. Exelon also runs a large fleet of nuclear power plants. The EPA fined the company $102 million, and state regulators fined it an additional $100 million,findingpervasive system-wide shortcomings in dealing with coal ash. January 1, 2023. Change value during other periods is calculated as the difference between the last trade and the most recent settle. Although studies analyzing technical potential take into account areas where development wouldnt be feasible, not all technical potential for wind and solar will be built. Source: FactSet, Markets Diary: Data on U.S. Overview page represent trading in all U.S. markets and updates until 8 p.m. See Closing Diaries table for 4 p.m. closing data. Its plants, equipment and property were valued at $78.6 billion. Duke Energy said Wednesday it would sell its commercial renewables business to ArcLight Capital Partners for $364 million. On Nov. 7, 2021, FirstEnergy announced that it entered into a definitive agreement with Brookfield Super-Core Infrastructure Partners ("Brookfield"), a leading global infrastructure fund, to sell a 19.9% stake in FirstEnergy Transmission, LLC ("FET"), the holding company of FirstEnergy's FERC-regulated transmission utility subsidiaries (Federal Energy Regulatory Commission) for $2.4 billion. WASHINGTON - Duke Energy claims its growth of renewable energy sources "soared" in 2021, but the company generated just 5.4 percent of its electricity from wind and solar last year, according to a report the company released on Tuesday. David Lochbaum, a nuclear engineer and former nuclear safety director at the Union of Concerned Scientists,estimatesthat, for every 100 reactors, the chances of a meltdown for 40-year-old unit or reactor is 33 percent, for those at 60 years, 45 percent. Solar panels are becoming more efficient. This new bull market is just getting started. See FirstEnergy press release "FirstEnergy Announces Transformative $3.4 Billion of Equity Financings, Introduces Long-Term Earnings Growth Rate of 6-8%" (Nov. 7, 2021). Across the nation, forward-looking utilities are accelerating the development of cheaper, cleaner and safer renewables, energy storage and efficiency, and phaseout of expensive, dirty and dangerous coal, nuclear and natural gas plants. Our Company - Duke Energy Find up-to-date statistics and facts on Duke Energy. In Indiana, the lobbying group for the states large utility companies, including Duke, Although it has been forced by economics, lawsuits and tighter emissions regulations to close some dirty, money-losing coal plants, Duke will continue to rely on coal as a significant source of its generation mix for another decade or more. Duke owns no wind power in its regulated territories. The public interest groupsAppalachian Voices and NC Warnsay Duke claims the plan would prepare the electric grid for more renewables but is actually impeding the growth of renewables and storage.. Using data from federal agencies and the solar industry,6EWG calculated that in each state Duke serves, except Florida, the potential of wind and solar power far exceeds electricity demand. Advocates led by Southern Alliance for Clean Energy recently filed testimony criticizing Dukes mostrecent planning document, asserting that retiring coal plants early, avoiding new natural gas plants and shifting aggressively to renewables would be over $5 billion less expensive than their business plan. Donate today and join the fight to protect our environmental health. In 2012, theAssociated Pressreported that three-fourths of U.S. nuclear plants had leaks of radioactive tritium and that [t]he number and severity of leaks has been escalating, even as federal regulators extend the licenses of more and more reactors across the nation. From 2007 to 2010, all but two of Dukes nuclear plants reported tritium leaks, including a100,000 gallon spillat the McGuire plant, in North Carolina. (See Appendix 2 for our calculations.). In the Carolinas, renewables provide only about 3 percent of Dukes electricity generation. Buy stocks on weakness. Market Realist is a registered trademark. This interest is also higher than at almost any other company in the Electric Utilities industry. Technical potential is not economic potential. The expansion of net metering will let solar customers send the electricity they generate back into Dukes system and receive a credit on their monthly bills. His practice focuses on the representation of public utilities, financial institutions, independent power producers, and natural gas producers and pipelines in connection with acquisitions and divestitures, financings, joint ventures and other commercial transactions in the energy sector. Fixed charges have historically run about $5 to $10 a month, depending on the number of customers served. Know your environment. EWGs methodology is based on the 2017 Utility Energy Efficiency Scorecard of the American Council for an Energy-Efficiency Economy, or ACEEE. NextEra Energy Point Beach LLC. Duke Energy said Wednesday it would sell its commercial renewables business to ArcLight Capital Partners for $364 million. Sources: FactSet, Dow Jones, ETF Movers: Includes ETFs & ETNs with volume of at least 50,000. Fundamental company data and analyst estimates provided by FactSet. Duke Energy (NYSE:DUK) is an electric power holding company with services in six U.S. states. Visit a quote page and your recently viewed tickers will be displayed here. By Ben Glickman. In November 2018, the two utilities separately asked South Carolina regulators for major increases in their flat monthly customer charges. California regulators estimate that customers investments in rooftop solar and efficiency have averted $2.6 billion in transmission and distribution costs for utilities costs that wouldhave been passedon to customers. Duke Energy to sell distributed generation portfolio in $364 mln deal Opinions expressed are those of the author. Forms EIA uses to collect energy data including descriptions, links to survey instructions, and additional information. Reuters provides business, financial, national and international news to professionals via desktop terminals, the world's media organizations, industry events and directly to consumers. All rights reserved. This chart shows the technical potential for solar and onshore wind in states where Duke has monopoly territories, based on data derived from federal and private sources. 526 South Church Street Charlotte North Carolina 28202 United States. Northern States Power Co - Minnesota. Pursuant to the terms of the all-cash transaction, which appear to be modelled largely after the Duke Indiana-GIC transaction, Brookfield will receive certain governance rights commensurate with its minority investment in FET, while FirstEnergy will retain the remaining 80.1% interest in FET and continue to operate its transmission business, which comprises one of the largest transmission systems in PJM. mesurer votre utilisation de nos sites et applications. By 2033, that is projected to increase to just 8 percent. All Rights Reserved. Its natural gas distribution is found in Ohio,. Other electric utilities are rural cooperatives, which are set up as tax-exempt nonprofit businesses. Mutual Funds & ETFs: All of the mutual fund and ETF information contained in this display, with the exception of the current price and price history, was supplied by Lipper, A Refinitiv Company, subject to the following: Copyright Refinitiv. NextEra Energy Point Beach LLC. State and federal laws mandating greater efficiency will reduce demand for electricity, sticking the company with stranded costs it may not be able to recoup from customers. The utility sector includes basic services like clean water, sewage, and natural gas. Creators of Skin Deep Database Tapwater Database EWG Verified The New LedeSearch. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Factset: FactSet Research Systems Inc.2019. EWG spotlights regional issues in California and the Midwest. All quotes delayed a minimum of 15 minutes. Were proud to be leaders of the clean energy revolution. More News Illumination. The industry leader for online information for tax, accounting and finance professionals. All rights reserved. In the Carolinas, Florida, Indiana and Kentucky, Duke is a regulated monopoly.3In its exclusive service territories, Duke owns the plants that generate electricity and the transmission and distribution systems that carry it to customers. 7See intervenor testimony in Indiana and North Carolina at https://www.in.gov/iurc/files/CAC_Earthjustice_et_al.pdf and http://www.ncwarn.org/wp-content/uploads/NC-WARNs-Initial-Comments-on-IRPs.pdf. This business-related article is a stub. But a deep dive into Dukes actions, portfolio and regulatory filings reveals another distinction: Considering its size, environmental record, puny investments in solar and wind power, and schemes to penalize customers who want to join the renewable energy revolution, Duke is public energy enemy No. Screen for heightened risk individual and entities globally to help uncover hidden risks in business relationships and human networks. It says renewables areunreliable that their power output is intermittent. Its true that solar and wind output vary depending on the time of day and weather conditions, but their generation overall is predictable. In 2017, the. relationships and build investor experiences. Dirty coal-fired power plants and risky nuclear reactors generate almost 70 percent of Dukes electricity, far more than the national share of about 50 percent. For instance, each of the FirstEnergy-Brookfield, Duke Indiana-GIC and IPL-Caisse transactions appear to have been structured in terms of sizing and timing to address, at least in part, each parent company's projected capital needs as well as clean energy goals. EWG is taking action to speed the transition. In 2010 Dukeabandoneda plan to build three turbines offshore in North Carolina and morerecently rejecteda bid for a contract to purchase wind power in the two states. Sources: FactSet, Tullett Prebon, Currencies: Currency quotes are updated in real-time. The fixed customer charge is the part of the bill intended to cover administrative costs the cost of installing and reading meters, billing, and the poles and lines that connect the home to the distribution system. We help raise awareness and hold industries accountable for your health, for your environment. Source: EWG, from data by the Energy Department and its WINDExchange program, the Energy Information Administration, the National Renewable Energy Laboratory and the Solar Energy Industries Association. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. A small portion of Dukes purchased power is from renewable sources. But a deep dive into Duke's actions, portfolio and regulatory filings reveals another distinction: Considering its size, environmental record, puny investments in solar and wind power, and schemes to penalize customers who want . Share Price. He can be reached at [email protected]. Energy storage and efficiency, rooftop solar, and other strategies such as demand response8can much morecheaply displace or postponecostly transmission and distribution upgrades. Most of us certainly think of electricity when we consider various utilities we pay to use in our homes and businesses. Two versions of Dukes plan have beenrejected the first by the legislature; the second by regulators but the utility is still asking. ET. Dukerecently notifiedthe EPA that 24 of its coal ash pits violate federal regulations protecting underground aquifers and wetlands. After Hurricane Florence last year, flooding released an estimated150 dump truck loadsof toxic sludge from a coal combustion waste pit into the Cape Fear River. The company has approximately 29,000 employees. See Duke Energy Corporation press release "Duke Energy partners with GIC to secure minority investment in Duke Energy Indiana, increases long-term EPS growth Rate" (Jan. 28, 2021). Global Water Resources trades on the Nasdaq under the symbol "GWRS" and works with regulated water, wastewater, and recycled water, mainly in Phoenix.

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