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48-467: "Progress Rail" traces its roots to a recycling company founded in Albertville, Alabama, United States in 1982. With the merger of Progress Rail's owner Florida Progress Corporation and Carolina Power & Light Company in 2000, it became owned by the new entity Progress Energy . In February 2005, Progress Energy announced it was selling Progress Rail to One Equity Partners for $ 405 million. The sale closed on March 28, 2005, with Progress Rail becoming

96-619: A Combined Construction and Operating License to the Nuclear Regulatory Commission , with an announcement that it will spend $ 160 million in 2008 on the plant with a total cost of $ 5 billion to $ 6 billion. The plant was approved in 2016. In August 2017, Duke decided to seek permission from the North Carolina Utility Commission to cancel the project due to the bankruptcy of Westinghouse and "other market activity", although they retained

144-431: A power station , electric generator , a chemical plant , fuel plant, mine, metal refinery, and many others. Nameplate capacity is the theoretical output registered with authorities for classifying the unit. For intermittent power sources , such as wind and solar, nameplate power is the source's output under ideal conditions, such as maximum usable wind or high sun on a clear summer day. Capacity factor measures

192-429: A campaign in which Phil Radford called on Duke Energy to abandon mountaintop removal coal, produce a third of its energy from renewable sources by 2020, and abandon coal altogether by 2030." In May 2011, Duke agreed to pay $ 30M to resolve allegations that changes made to the company pension plan disproportionately harmed employees over 40, costing many of them up to half of their accrued benefits. In December 2011,

240-549: A deal announced March 27, 2006. The Power Building was demolished February 24, 2007. Duke Energy Center at 550 South Tryon Street was announced as the company's headquarters in 2009. The company announced May 17, 2021 that the headquarters will move in 2023 to Duke Energy Plaza , across the street from the current headquarters. Childress Klein is developing the new building, which will allow Duke to sell its Church Street and College Street buildings, and end its lease at 400 South Tryon . Previously named Charlotte Metro Tower,

288-439: A lot of unreported and underreported items and the tax claim was actually too low. In May 2013, university students launched a campaign for Brown University to divest fossil fuels, specifically referring to Duke Energy and other coal plant operators. On February 2, 2014, the massive Dan River coal-ash spill led to a grand jury investigation into Duke Energy. The initial investigation was overseen by Governor Pat McCrory , who

336-451: A separate private company. On May 17, 2006, Caterpillar Inc. announced it would purchase Progress Rail from One Equity Partners for $ 1 billion in cash, stock and debt. The acquisition by Caterpillar was announced as part of its long-term strategy, Vision 2020 . In July 2011, the company announced it was to assemble EMD locomotives at a plant leased in the state of Minas Gerais , Brazil. On May 24, 2008 Caterpillar agreed to acquire all of

384-569: A series of hydroelectric power plants, Wylie convinced James B. Duke and his partner James Blaney to invest in the Southern Power Company, founded in 1905. In 1917 James Blaney was the founder of the Wateree Power Company that was formed as a holding company for several utilities that had been founded and/or owned by Duke, and Blaney his associates, and in 1924 the name was changed to Duke Power. In 1927, most of

432-502: A subsidiary of Duke Energy, specializes in the development, ownership, and operation of various generation facilities throughout the United States. This segment of the company operates 1,700 megawatts of generation. 240 megawatts of wind generation were under construction and 1,500 additional megawatts of wind generation were in planning stages. On September 9, 2008, DERS updated its projections for future wind power capacity. By

480-419: Is generally limited by weather conditions, hydroelectric dam water levels, tidal variations and other outside forces. Equipment failures and maintenance usually contribute less to capacity factor reduction than the innate variation of the power source. In photovoltaics , capacity is rated under Standard Test Conditions usually expressed as watt-peak (W p ). In addition, a PV system 's nameplate capacity

528-436: Is sometimes denoted by a subindex, for example, MW DC or MW AC , to identify the raw DC power or converted AC power output. The term is connected with nameplates on electrical generators as these plates describing the model name and manufacturer usually also contain the rated output, but the rated output of a power station to the electrical grid is invariably less than the generator nameplate capacity, because

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576-417: The 2012 Democratic National Convention . In July 2012, Duke Energy was criticized for paying former Progress Energy CEO Bill Johnson $ 44.7 million in compensation, including a $ 10 million severance, for something close to 20 minutes on the job as Duke's CEO. In 2012, Duke Energy sued Citrus County, Florida claiming its tax bill was too high. The county hired an outside appraiser who found that there were

624-688: The Midwestern United States as well. The company operates nuclear power plants, coal-fired plants, conventional hydroelectric plants, natural-gas turbines to handle peak demand, and pumped hydro storage. During 2006, Duke Energy also acquired Chatham, Ontario -based Union Gas , which is regulated under the Ontario Energy Board Act (1998). On January 3, 2007, Duke Energy spun off its gas business to form Spectra Energy . Duke Energy shareholders received 1 share of Spectra Energy for each 2 shares of Duke Energy. After

672-512: The University of Massachusetts Amherst identified Duke Energy as the 46th-largest corporate producer of air pollution in the United States , with roughly 36 million pounds of toxic chemicals released annually into the air. Major pollutants included sulfuric and hydrochloric acid , chromium compounds, and hydrogen fluoride . The Political Economy Research Institute ranks Duke Energy 13th among corporations emitting airborne pollutants in

720-878: The 141st largest company in the United States in 2024 – its highest-ever placement on the Fortune 500 list. Duke Energy is based in Charlotte, North Carolina. It owns 58,200 megawatts of base-load and peak generation in the United States, which it distributes to its 7.2 million customers. It has approximately 29,000 employees. Duke Energy's service territory covers 104,000 square miles (270,000 km ) with 250,200 miles (402,700 km) of distribution lines. Almost all of Duke Energy's Midwest generation comes from coal, natural gas , or oil, while half of its Carolinas generation comes from its nuclear power plants . During 2006, Duke Energy generated 148,798,332 megawatt-hours of electrical energy. Duke Energy Renewable Services (DERS),

768-510: The 40-story building will be purchased when completed for up to $ 675 million by Childress Klein and CGA Capital, in the largest real estate deal in the city's history, announced in December 2019. For the fiscal year 2017, Duke Energy reported earnings of US$ 3.059 billion, with an annual revenue of US$ 23.565 billion, an increase of 3.6% over the previous fiscal cycle. Duke Energy's shares traded at over $ 79 per share, and its market capitalization

816-489: The 600,000 tons of wood debris it needs yearly to fuel its $ 250 million biomass plant. The joint venture between electric power company Duke Energy and global nuclear services giant AREVA was created to build wood waste-to-energy power plants around the country. ADAGE president Reed Wills announced the first Northwest outpost will be in the struggling timber town of Shelton, Washington. The following pollutants are provided by DUKE-AREVA-ADAGE in their application for permit to

864-928: The Department of Environmental Protection for a similar type of plant in Florida. Following is a list of Duke Energy's thirty conventional hydroelectric facilities, in order of average electric production. All properties are 100% owned by Duke, and all but Markland are located in North Carolina and South Carolina (Markland is located in southern Indiana ). Citing the falling cost of building solar farms, Duke Energy announced plans in 2017 to launch three new such projects in Kentucky. Two will be in Kenton County and one will be in Grant County. Together

912-460: The EMD London, Ontario plant after labour dispute shuttered the manufacturing plant. In 2019, Progress Rail acquired Cleveland Track Material, Inc. which was a subsidiary of Vossloh Cogifer. During October 2013, Caterpillar announced that a federal criminal indictment had been secured against Progress Rail Services. In 2017, the company pleaded guilty to the charges, including dumping parts into

960-682: The Eastover Mining Company, Duke Power engaged in a lengthy contract dispute with the workers at the Brookside coal mine in Harlan County, Kentucky . For thirteen months, workers picketed the company for improved medical benefits and the right to representation by the United Mine Workers of America, while Duke Power insisted on a no-strike clause in the miner's eventual labor contract. The strike culminated in

1008-475: The North Carolina grid from 2017. On December 3, 2022, an attack was carried out on two Duke Energy substations located in Moore County, North Carolina . Damage from the attack left up to 40,000 residents without electrical power for several days, with officials closing schools and declaring a state of emergency. The Federal Bureau of Investigation supported local investigators in case the incident met

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1056-488: The United States. The ranking is based on the quantity (80 million pounds in 2005) and toxicity of the emissions. This change reflects the purchase of fossil fuel-heavy Cinergy, which occurred in 2005. In early 2008, Duke Energy announced a plan to build the new, 800-megawatt Cliffside Unit 6 coal plant 55 miles (89 km) west of Charlotte, North Carolina. The plan has been strongly opposed by environmental groups such as Rising Tide North America, Rainforest Action Network,

1104-626: The air. Duke Energy completed its acquisition of Cinergy Corp in 2006. In July 2004, Duke Energy agreed to pay $ 208M to settle allegations that it had engaged in price gouging in California during the energy crisis of 2000 and 2001. In December 2009, Duke Energy agreed to spend approximately $ 93M to resolve violations of the Clean Air Act. Duke became obligated to make investments that were expected to reduce sulfur dioxide emissions by 86%. On February 14, 2011, Greenpeace launched

1152-559: The capital stock of MGE - Equipamentos e Serviços Ferroviários Ltda., a São Paulo , Brazil-based locomotive component and transit car services company to become part of Caterpillar's Progress Rail Services Corporation. The acquisition of MGE marked Progress Rail's first entry into the South American market. On June 1, 2010, Caterpillar announced Progress Rail would buy Electro-Motive Diesel from Berkshire Partners LLC and Greenbriar Equity Group LLC for US$ 820 million. The purchase

1200-556: The community-based Canary Coalition as well as the Southern Environmental Law Center , which has threatened to sue Duke if it does not halt construction plans. On April 1, activists locked themselves to machinery at the Cliffside construction area as part of Fossil Fools Day . Duke Energy has been "one of the most vocal advocates" for a " cap-and-trade " system to combat global CO 2 emissions, "and

1248-624: The company's CEO, Jim Rogers, thinks the company will profit from cap-and-trade". The company left the National Association of Manufacturers in part over differences on climate policy. In a joint venture with the French-based global energy firm AREVA, under the nominal name of ADAGE, Duke Energy has planned a "Green" biomass burning facility in Mason County, Washington and is negotiating with forestland owners to secure

1296-627: The definition of domestic terrorism under the Patriot Act . On March 16, 2006, Duke Power announced that a Cherokee County, South Carolina site had been selected for a potential new nuclear power plant . The site is jointly owned by Duke Power and Southern Company . Duke planned to develop the site for two Westinghouse Electric Company AP1000 (advanced passive) pressurized water reactors . Each reactor would have been capable of producing approximately 1,117 megawatts. (See Nuclear Power 2010 Program .) On December 14, 2007, Duke Power submitted

1344-586: The end of 2008, it would have over 500 MW of nameplate capacity of wind power online, and an additional 5,000 MW in development. The company began in 1900 as the Catawba Power Company when Walker Gill Wylie and his brother financed the building of a hydroelectric power station at India Hook Shoals along the Catawba River near India Hook, South Carolina . When Wylie needed additional funding to further his ambitious plan for construction of

1392-574: The first headquarters building, known as the Power Building, which was completed in 1927 at 440 South Church . It was five stories and 503,000 square feet (46,700 m ). The Electric Center at 526 South Church Street opened in 1975 with an addition in 1988. State Farm Insurance sold the Power Building in 2004 for $ 8 million to The Dilweg Cos., who anticipated significant development. Novare Group bought 5.13 acres (20,800 m ) at 408 South Church Street for $ 17 million from The Dilweg Cos. in

1440-598: The initiative "Envision Charlotte". At the time, the group decided on a goal to reduce energy use in the "urban core of the city by 20 percent". To do so, the group focused on making energy consumption changes to commercial buildings larger than 10,000 square feet. On July 3, 2012, Duke Energy merged with Progress Energy Inc with the Duke Energy name retained along with the Charlotte, North Carolina , headquarters. Duke announced on June 18, 2013, that CEO Jim Rogers

1488-486: The non-partisan organization Public Campaign criticized Duke Energy for spending $ 17.47 million on lobbying . It also criticized Duke for not paying any taxes from 2008 to 2010 and receiving $ 216 million in tax rebates, in spite of turning a $ 5.4 billion profit and extensively raising executive compensations. In 2012, Greenpeace protested Duke's lobbying of the Democratic Party , including its funding of

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1536-440: The ocean. A $ 5,000,000 fine was paid as well as $ 20,000,000 in restitution. Progress Rail currently offers EMD freight, passenger, repowered and used locomotives. Progress Rail's Signal Division makes grade crossing and wayside signals. Florida Progress Corporation Duke Energy Corporation is an American electric power and natural gas holding company headquartered in Charlotte, North Carolina . The company ranked as

1584-420: The option of restarting the project at some point in the future if circumstances change. This site would have been adjacent to the old site, which was never completed and abandoned in the early 1980s, and used by James Cameron as a film set for the 1989 movie The Abyss . In 2018, Duke Energy announced that they had decided not to include new nuclear power in their long-range plans. J.A. Jones designed

1632-480: The plant to maintain output for a reasonable amount of time (for example, a day), neither momentarily nor permanently, and without considering external events such as lack of fuel or internal events such as maintenance. Actual output can be different from nameplate capacity for a number of reasons depending on equipment and circumstances. For non-dispatchable power , particularly renewable energy , nameplate capacity refers to generation under ideal conditions. Output

1680-484: The ratio of actual output over an extended period to nameplate capacity. Power plants with an output consistently near their nameplate capacity have a high capacity factor. For electric power stations, the power output is expressed in Megawatt electrical (MW e ). For fuel plants, it is the refinery capacity in barrels per day. For dispatchable power , this capacity depends on the internal technical capability of

1728-494: The shooting and death of twenty-two year old miner, Lawrence D. Jones, by a foreman at the Duke Power-owned mine. Five days later, Duke Power would reach an agreement with the striking miners which included recognition of the new UMWA local, the rehiring of workers dismissed during the strike, and dropping charges related to the action. In 1988, Nantahala Power & Light Co., which served southwestern North Carolina,

1776-402: The spin-off, Duke Energy now receives the majority of its revenue from its electric operations in portions of North Carolina, South Carolina, Kentucky, Ohio, and Indiana. The spinoff to Spectra also included Union Gas, which Duke Energy acquired the previous year. In 2011, Duke Energy worked with Charlotte's business leader community to help build Charlotte into a smart city . The group called

1824-543: The stations will go into low income communities. Duke Energy has been chosen as one of The 50 Best Employers In America by Business Insider In 2002, Duke Energy was awarded the Ig Nobel Prize in Economics for "adapting the mathematical concept of imaginary numbers for use in the business world". In December 2000, Cinergy Corp agreed to pay $ 1.4B to settle allegations that its coal plants illegally polluted

1872-516: The subsidiary companies, including Southern Power Company, Catawba Power Company, Great Falls Power Company, and Western Carolina Power Company were merged into Duke Power, although Southern Public Utilities, 100% owned by Duke Power, maintained a legally separate existence for the retail marketing of Duke-generated power to residential and commercial customers. Southern Public Utilities also operated transit systems, which Duke eventually converted from streetcars to buses. In 1973, through its subsidiary,

1920-556: The three plants will create more than 6.7 MW of power. These join several other solar farms including: Additionally, Duke Energy added 451 MW of solar capacity to North Carolina's grid in 2017. In 2020 Duke Energy began commercial operations of several farms in Texas, operating alongside its Farm from 2010. Duke Energy announced in October 2018 that it would install 530 electric car charging stations around Florida. Ten percent of

1968-423: Was accused of intervening on Duke's behalf as he had been a Duke Energy employee for 28 years. Prosecutors went looking for any cash or items of value that might have been given to Governor McCrory and members of his administration in exchange for cheap settlements. Duke Energy was prosecuted, pled guilty to nine charges of criminal negligence , and agreed to pay $ 102 million in fines and restitutions. Duke Energy

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2016-521: Was also ordered to close all of its 32 ash ponds in the state of North Carolina by 2029. In September 2016, the Government Pension Fund of Norway , then worth $ 900 billion, excluded Duke Energy and its subsidiaries from the fund, citing "risk of severe environmental damage". In August 2020, environmental watchdog EWG released a report accusing Duke Energy of charging Indiana ratepayers for $ 12 billion worth of failed projects. This

2064-441: Was completed on August 2, 2010, making Electro-Motive Diesel a wholly owned subsidiary of Progress Rail Services Corporation. During 2010, Progress Rail acquired two makers of signal equipment, Coast to Coast Signal Engineering and C&S Signaling , as well as a General Electric subsidiary involved in the signal industry; now Progress Rail Inspection & Information Systems. In February 2012 Progress Rail permanently closed

2112-613: Was purchased by Duke and is now operated under the Duke Power Nantahala Area brand. In 1990, Duke sold its remaining transit operations. Duke Power merged with PanEnergy, a natural gas company, in 1997 to form Duke Energy. The Duke Power name continued as the electric utility business of Duke Energy until the Cinergy merger. With the purchase of Cinergy Corporation announced in 2005 and completed on April 3, 2006, Duke Energy Corporation's customer base grew to include

2160-985: Was retiring and Lynn Good would become the new CEO. Rogers has been CEO and Chairman since 2006, while Good was Chief Financial Officer of Duke since 2009, having joined Duke in the 2006 Cinergy merger. Rogers' retirement was part of an agreement to end an investigation into Duke's Progress Energy acquisition in 2012. In 2016, Duke Energy purchased Piedmont Natural Gas for $ 4.9 billion to become its wholly owned subsidiary. Duke Energy completed selling its remaining power operations in Central and South America for $ 1.2 billion months afterwards. At one point Duke Energy had more than 4,300 megawatts of electric generation in Latin America. It operated eight hydroelectric power plants in Brazil with an installed capacity of 2,307 megawatts. The company expects to spend $ 13 billion upgrading

2208-463: Was the direct consequence of a controversial bill passed in Indiana earlier that year. Projects included two natural gas pipelines and two retired nuclear power plants. Nameplate capacity Nameplate capacity , also known as the rated capacity , nominal capacity , installed capacity , maximum effect or Gross Capacity , is the intended full-load sustained output of a facility such as

2256-493: Was using loopholes in the law to increase emissions. Initially, Duke prevailed at the trial court level, but in 2006 the case was argued before the Supreme Court ( Environmental Defense v. Duke Energy Corp. (05-848)). The Court unanimously ruled on April 2, 2007, that the modifications allowed the power plants to operate for more hours, increasing emissions, so Clean Air Act permits were needed. In 2002, researchers at

2304-648: Was valued at over US$ 58.8 billion in November 2018. In 1999, the United States Environmental Protection Agency commenced an enforcement action against Duke Energy for making modifications to very old and deteriorating coal-burning power plants without getting permits under the Clean Air Act . Duke asserted that a "modification" under the Clean Air Act did not require a permit. Environmental groups asserted that Duke

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