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Duke Energy Corporation


2019 Vault Rankings

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 is one of the top electric power holding companies in the US, serving about 7.7 million retail customers in six US states covering some 95,000 square miles of service area in the Southeast and Midwest. Its substantial coal, nuclear, and natural gas assets generate around 50,000 MW of electricity. The company also serves about 1.6 million natural gas customers through 60,000 miles of pipelines. Duke Energy's rate-regulated utilities serve customers in the Carolinas, Florida, Ohio, Indiana, and Kentucky. The company also owns some renewable energy assets like wind and solar farms. 


Duke Energy reports through the Electric Utilities, Gas Utilities, and Commercial Renewables segments.

Comprising 90% of Duke's total revenue, the Electric Utilities unit encompass the whole cycle— generation, transmission, distribution, and sale of electricity. The company's diversified energy sources come mostly from natural gas and oil but include nuclear, coal, and renewables. About 20% of the company's delivered power is purchased from other energy generators.

The Gas Utilities and Infrastructure segment serves residential, commercial, industrial, and natural gas customers through the regulated public utilities of Piedmont and Duke Energy Ohio. It has some 1.6 million customers in the Carolinas, Tennessee, southwestern Ohio, and northern Kentucky. Less than 10% of the company's sales comes from this segment. 

The Commercial Renewables segment (less than 5% of annual sales) generates renewable energy through utility-scale wind and solar assets across some 20 states.

Geographic Reach

Duke Energy, headquartered in Charlotte, NC, owns and operates power generation facilities primarily in 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 some 20 wind facilities, mostly in Texas and Wyoming, and 100 solar facilities, mostly in North Carolina and California, as well as one battery storage facility in Texas.

Sales and Marketing

Duke Energy provides electricity to residential customers, industrial companies, municipalities, electric cooperative utilities, and other load-serving entities. Its regulated utilities are the sole supplier of electricity and natural gas within their retail service territories, except for Ohio, which allows some competition in the electricity and natural gas market.

Financial Performance

Duke Energy has seen revenue grow less than 10% in the last five years. Net income initially followed an upward trend, growing from $1.8 billion in 2014 to $3.0 billion in 2017 before falling back to $2.6 billion the following year. 

Revenue increased some 4% from $23.5 billion in 2017 to $24.5 billion in 2018. The growth came mostly from favorable weather conditions and higher retail volumes sold, leading to a $920 million sales increase in the Regulated Electric segment. An increase in electricity rates in North Carolina further aided the company's performance.

Higher depreciation and amortization charges coupled with higher maintenance costs during 2018 caused net income to drop by $893 million from the previous year.  

The company's cash and cash equivalents increased slightly from $505 million in 2017 to $591 million at the end of 2018. Cash from operations generated $7.1 billion, while cash from investing used $10 billion (including $9.3 billion going towards CAPEX). Financing activities provided a further $2.9 billion.


Duke Energy is focused on an ambitious growth plan for its US operations with a $37.0 billion budget earmarked for the 2019-2023 period. It encompasses different strategies for each of its businesses.

A major growth area the company is targeting is the expansion of its gas business. The construction of a new LNG facility (Robeson) that is expected to be fully operational by 2021 should enable Duke to grow its gas revenue around 6% annually till 2023, the company predicts. 

Since the majority of the company sales comes from its core utilities, Duke Energy wants to upgrade grids with urgency. This includes a $1.1 billion budget set aside in Florida for 2019. 

Duke is also building up its sustainable portfolio while decommissioning older, inefficient plants. Its planning to replace 1,200 MW of coal-generated power by 2024 and replace it with a 700 MW solar facility in Florida and several other commercial renewable projects under various stages of development across the country. In 2018, the company also announced a $500 million battery storage project in the Carolinas and an electric vehicle pilot program in Florida. 

A major concern for the company is the repeated delay of its Atlantic Coast Pipeline project, which has run into repeated legal challenges over environmental concerns. Stringent regulations and various operational risks could pose further roadblocks and drain the company's resources. 

Mergers and Acquisitions

Duke is aiming to rapidly build up its sustainable portfolio. In 2018, it completed the acquisition of the 24.9 MW Shoreham Solar Commons project in Long Island from Invernergy. The terms of the acquisition—the company's first renewables project in New York— were not disclosed.  

A year earlier, Duke Energy acquired three solar power projects from SunPower Corp. (total capacity of 55 MW), increasing its solar capacity in California by 50%. Also in the same year, the company acquired REC Solar, a provider of renewable energy solutions for commercial customers.

Company Background

Gill Wylie founded Catawba Power in 1899. The next year Wylie and James "Buck" Duke (founder of the American Tobacco Company) formed Southern Power Company. To buy other Piedmont-region utilities, Buck Duke formed the Southern Public Utility Company in 1913. In 1924, this expanded company was renamed Duke Power. Growing after WWII, the company went public in 1950 and moved to the NYSE in 1961. From its humble beginnings, the company has grown to be one of the top electricity providers in the US. 

Duke Energy Corporation

Charlotte, NC 28202-4200
Phone: 1 (704) 382-3853

Firm Stats

Employer Type: Publicly Owned
Stock Symbol: DUK
Stock Exchange: , NYSE
Principal Engineer: Jeff Gindling
Chairman, President, and CEO: Lynn J. Good
EVP and COO: Dhiaa M. Jamil
Employees (This Location): 2,000
Employees (All Locations): 30,083

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
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
Franklin, IN
Greensburg, IN
Kokomo, IN
New Albany, IN
New Castle, IN
Noblesville, IN
Owensville, IN
Princeton, IN
Seymour, 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
Charlotte, NC
Durham, NC
Elizabeth City, 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
Zebulon, NC
Cincinnati, OH
Columbus, OH
Fairfield, OH
Hillsboro, OH
Monroe, OH
New Richmond, 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