Duke Energy Corporation at a Glance


  • Solid benefits and pay package.
  • Plenty of opportunities for advancement.
  • Friendly and helpful staff and managers.


  • Recent layoffs and firings.
  • Workdays can be hectic.
  • Some managers are poor communicators.

The Bottom Line

  • Duke Energy Corporation offers plenty of jobs for professionals such as accountants and engineers, and for skilled craftspeople such as line technicians and mechanics.

About Duke Energy Corporation

Duke Energy Corporation keeps the machines humming and the lights burning for its millions of southeastern US customers. The company generates some 50,000 MW of electricity primarily from coal, nuclear, and natural gas sources, and serves it up to roughly 7.5 million residential, commercial, and industrial customers. Its natural gas operations use approximately 60,000 miles of pipelines to supply fuel to 1.6 million customers. Duke performs its operations through regional government-regulated utilities: Duke Energy Carolinas, Progress Energy, Duke Energy Florida, Duke Energy Ohio, Duke Energy Progress, Duke Energy Indiana and Duke Energy Kentucky. The company is also in investing solar and wind renewable sources.


Duke Energy’s acquisition of Piedmont (gas services) and divestiture of all international operations in late 2016, led to a realignment of the company’s segment structure, which is now composed of: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, Commercial Renewables, and Other.

The Electric Utilities and Infrastructure segment is Duke’s largest, producing about 95% of revenue and possessing more than 85% of corporate assets. It provides retail electric service via the generation, transmission, distribution, and sale of electricity to approximately 7.5 million customers. The segment also sells electricity wholesale to municipalities, electric cooperative utilities and other load-serving entities. It conducts its operations primarily through its regulated Duke Energy subsidiaries. The fuel sources of its generated electricity are coal (27%), nuclear (27%), natural gas and oil (23%), and renewables (1%). The remaining 22% of delivered power is purchased from other energy generators. The segment owns, wholly or partially, 11 nuclear reactors at six sites.

The Gas Utilities and Infrastructure segment serves residential, commercial, industrial, and power generation natural gas customers. The segment has over 1.5 million customers, including more than 1 million in the Carolinas and Tennessee, and some 500,000 customers in southwestern Ohio and northern Kentucky. It conducts natural gas operations primarily through the regulated public utilities of Piedmont and Duke Energy Ohio.

The Commercial Renewables segment generates renewable energy through utility-scale wind and solar assets across 14 states.

Geographic Reach

Duke Energy, headquartered in Charlotte, NC, owns and operates power generation facilities primarily in its customer service areas of the Carolinas, Florida, Indiana, Kentucky, and Ohio. Its service area covers 95,000 square miles with an estimated population of 24 million people. The company’s renewable energy facilities include wind farms in Texas and Wyoming and solar projects in North Carolina and California.

In late 2016, Duke divested all its international operations, turning it into a US-only utility company.

Sales and Marketing

Duke Energy serves electricity to residential customers, general businesses, and industrial companies. Its clients span a large set of industries including health care, IT, military, water/wastewater services, retail, textiles, chemicals, food processing, transportation, and others.

The company has a captive market across most of its service area. Its regulated utilities are the sole supplier of electricity and natural gas within their retail service territories, with the exception of Ohio, which allows some competition in the natural gas market.

Financial Performance

For the past several years Duke Energy’s annual revenue has remained steadfast around $22 billion, varying no more than 2% from year to year. Net income, however, has experienced large swings between 20% and 50% year-over-year, ranging between $1.9 billion and $2.8 billion.

In 2016, Duke produced $22.7 billion in revenue (94% from electric operations). The total revenue is a 1.7% increase over 2015’s $22.4 billion, due to favorable weather conditions, increased retail revenue, and earnings from the newly acquired Piedmont operations.

Net income in 2016 fell 24% from the prior year, totaling $2.2 billion in 2016. An 8% decline in fuel expense (gas & coal), the increase in revenue, and strong internal cost controls positively impacted income. However, costs for storm-related repairs, a loss on the sale of its international operations, and higher interest, depreciation, and amortization costs from the Piedmont acquisition ate into Duke’s earnings.

Cash and cash equivalents ended the year at $392 million, a $9 million increase from the prior year. Capital expenditures and the Piedmont acquisition pushed cash used by investing activities to more than $11.5 billion. Cash from operations provided $6.8 billion and financing activities – mainly debt issuance – provided $4.3 billion. A $400 million adjustment to cash was made due to the divestiture of Duke’s international operations.


Duke Energy is partway through a multi-year portfolio transition, some geographic and some operational. Geographically it wants to center its business in the US, a goal achieved in 2016 through the sale of its international business. Operationally, the company wants to pump up its gas business, as a percent of overall revenue, from 2016’s 5% to near 15% within a decade; it has plans to spend $6 billion between 2017 – 2022 to achieve the goal. A significant step towards this operational objective is Duke’s 2016 acquisition of Piedmont.

Another strategic goal is to focus investments in areas with more predictable and less volatile earnings. To that end, the company divested itself of international operations, which were negatively impacted by political and weather issues – such as draught-caused and government-mandated limitations on Duke’s Brazilian hydro-electric plants – and whose results were aggravated by foreign currency losses, for which Duke took a $620 million write-down in 2016.

The utility expects to invest $30 billion in its electric business between 2017 – 2022. Current projects include a $1.4 billion grid modernization for Duke Energy Indiana’s business and a $3.1 billion investment in natural gas-fired plants in Florida and the Carolinas that will reduce the company’s use of coal. Duke has reported its intent to invest $1 billion in its commercial renewables business segment.

Mergers and Acquisitions

In late 2016, Duke Energy bought Piedmont Natural Gas for $4.9 billion in cash and assumed its $2.0 billion in long-term debt. Based in Charlotte, NC, Piedmont supplies natural gas to over 1 million customers across much of the Carolinas and parts of Tennessee. The transaction tripled Duke Energy's natural gas customers to 1.6 million.

In late 2016, Duke exited its international operations, mainly composed of energy generation businesses in Latin America, in two separate divestiture transactions totaling $2.4 billion.

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Company News and Press Releases

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Duke Energy Corporation

550 S Tryon St
Charlotte, NC 28202-4200
Phone: 1 (704) 382-3853
Fax: 1 (704) 382-3814


  • Employer Type: Public
  • Stock Symbol: DUK
  • Stock Exchange: NYSE
  • Chairman, President, and CEO: Lynn J. Good
  • EVP and COO: Dhiaa M. Jamil
  • EVP; President, Natural Gas Business: Franklin H. Yoho
  • 2017 Employees: 29,060

Major Office Locations

  • Charlotte, NC

Other Locations

  • Washington, DC
  • Apopka, FL
  • Avon Park, FL
  • Bartow, FL
  • Bonita Springs, FL
  • Clearwater, FL
  • Clermont, FL
  • Crystal River, FL
  • Debary, FL
  • Deland, FL
  • Gainesville, FL
  • High Springs, FL
  • Holiday, FL
  • Intercession City, FL
  • Lake Buena Vista, FL
  • Lake Mary, FL
  • Lake Wales, FL
  • Largo, FL
  • Live Oak, FL
  • Longwood, FL
  • New Port Richey, FL
  • North Miami Beach, FL
  • Orlando, FL
  • Oviedo, FL
  • Saint Petersburg, FL
  • Sebring, FL
  • Bloomington, IN
  • Cayuga, IN
  • Clarksville, IN
  • Colburn, IN
  • Columbus, IN
  • Corydon, IN
  • Edwardsport, IN
  • Franklin, IN
  • Greensburg, IN
  • Kokomo, IN
  • New Albany, IN
  • New Castle, IN
  • Noblesville, IN
  • Owensville, IN
  • Princeton, IN
  • Seymour, IN
  • Wabash, IN
  • West Terre Haute, IN
  • Wheatland, IN
  • Cimarron, KS
  • Fallsburg, KY
  • Frankfort, KY
  • Price, KY
  • Union, KY
  • Canby, MN
  • Aberdeen, NC
  • Arden, NC
  • Belews Creek, NC
  • Belmont, NC
  • Burlington, NC
  • Durham, NC
  • Elizabeth City, NC
  • Fayetteville, NC
  • Garner, NC
  • Greensboro, NC
  • Hamlet, NC
  • Hendersonville, NC
  • Huntersville, NC
  • Jacksonville, NC
  • Leland, NC
  • Lilesville, NC
  • Lumberton, NC
  • Moncure, NC
  • Mooresboro, NC
  • Mooresville, NC
  • Mount Gilead, NC
  • Mount Holly, NC
  • New Hill, NC
  • Raleigh, NC
  • Reidsville, NC
  • Rockingham, NC
  • Roxboro, NC
  • Sanford, NC
  • Semora, NC
  • Shelby, NC
  • Southport, NC
  • Spruce Pine, NC
  • Stanley, NC
  • Terrell, NC
  • Wilmington, NC
  • Winston Salem, NC
  • Cincinnati, OH
  • Columbus, OH
  • Fairfield, OH
  • Hillsboro, OH
  • Monroe, OH
  • New Richmond, OH
  • Trenton, OH
  • Waverly, OH
  • Ardmore, OK
  • Harrisburg, PA
  • Roaring Branch, PA
  • Anderson, SC
  • Blacksburg, SC
  • Florence, SC
  • Fort Mill, SC
  • Greenville, SC
  • Hartsville, SC
  • Mullins, SC
  • Pageland, SC
  • Salem, SC
  • Seneca, SC
  • Williamston, SC
  • York, SC
  • Nashville, TN
  • Newport, TN
  • Denton, TX
  • Lyford, TX
  • Luxemburg, WI
  • Uneeda, WV
  • Guaraciaba D'Oeste, Brazil
  • Sao Joaquim Da Barra, Brazil
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