DUKE ENERGY CORPORATION at a Glance

Uppers

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

Downers

  • 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 is a John Wayne-sized power business. It serves electric and gas customers in the South and Midwest. Its US Franchised Electric and Gas unit operates primarily through its Duke Energy CarolinasDuke Energy OhioDuke Energy Indiana and Duke Energy Kentucky regional businesses. The company has 57,500 MW of electric generating capacity from diverse mix of coal, nuclear, natural gas, oil, and renewable resources. Duke Energy also has domestic commercial and international power assets. The company serves 7.2 million electric retail customers in six states in the Southeast and Midwest. While it is focused on energy operations, Duke also has some limited insurance, real estate, and telecom assets. 

Geographic Reach

The company has retail energy customers in Florida, Indiana, Kentucky, North Carolina, Ohio, and South Carolina. Its US service area covers 104,000 square miles with an estimated population of 22 million. It also has commercial power plants in the US as well as in Argentina, Brazil, Ecuador, El Salvador, Guatemala, and Peru.

Operations

Duke Energy has 7.2 million electric utility customers and 500,000 gas customers in the US. It has about 11,690 MW of US-based commercial power capacity and the largest nuclear generating fleet in the country. It also has about 4,900 MW of power capacity outside of the US (in Latin America).

Financial Performance

The company has experienced stable revenue growth since 2009. In 2013 Duke Energy’s revenues grew by 25% due to inclusion of Progress Energy for the first six months of 2013, higher retail pricing and rate riders and higher fuel revenues, a rise in wholesale power revenues due to additional volumes and charges for capacity for customers served under long-term contracts, and an increase retail demand due to weather conditions.

Duke Energy’s net income increased by 51% in 2013 due to higher revenues and gains on sales of unconsolidated affiliates.

That year the company’s operating cash inflow increased to $6.38 billion (from $5.24 billion in 2012) due to higher net income and a change in current assets and liabilities.

Strategy

Since 2007, Duke  has invested more than $3 billion to grow its commercial wind and solar business, pursuing a strategy of developing green energy sources to shrink its carbon footprint to meet regulatory requirements. In 2014 it signed a long-term agreement to service Pattern Energy’s 283-MW Gulf Wind energy project in Armstrong, Texas. Duke Energy Renewable Services has also provided service and maintenance work at Pattern Energy’s Hatchet Ridge wind site in Burney, California.

In 2014 Duke Energy Ohio announced that it will dispose of its nonregulated Midwest generation business by early to mid-2015. In the first quarter of 2014, Duke Energy Ohio reclassified $3.5 billion carrying value of its Midwest generation business to assets held for sale.

Mergers and Acquisitions

Growing its solar footprint in California, in 2013 Duke Energy Renewables acquired a 4.5 MW solar project, the largest solar generation facility in San Francisco, from solar project developer Recurrent Energy. That year it also bought the 21-megawatt Highlander solar power projects in Twentynine Palms, California. All told, Duke Energy Renewables has more than 100 MW of solar generating capacity (16 solar farms in the US).

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DUKE ENERGY CORPORATION

550 S Tryon St
Charlotte, NC 28202-4200
Phone: 1 (704) 382-3853
Fax: 1 (704) 382-8375
www.duke-energy.com

Stats

  • Employer Type: Public
  • Stock Symbol: DUKH, DUK
  • Stock Exchange: NYSE, NYSE
  • Vice Chairman, President and CEO: Lynn J. Good
  • Chairman: Ann Maynard Gray
  • EVP and CFO: Steven K. Young

Major Office Locations

  • Charlotte, NC

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