STOCK TITAN

Media Statement: Duke Energy curtailing energy load in the Carolinas

Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Neutral)
Tags
Rhea-AI Summary

Duke Energy reports tight electricity supplies due to extreme cold weather on December 24, 2022. The utility urges customers to conserve energy and is implementing load shedding to manage demand. Outages will be temporary and rotate among customers, expected to last until at least 9 a.m. today. Duke Energy is actively working to restore power following disruptions from a wind storm. The company serves 8.2 million customers across several states and is focused on a clean energy transition, aiming for net-zero carbon emissions by 2050.

Positive
  • Duke Energy is actively managing power supply through load shedding to ensure system stability.
  • The company is committed to a clean energy transition with net-zero carbon emissions target by 2050.
Negative
  • Tight electricity supplies may impact customer satisfaction and trust.
  • Ongoing load shedding could indicate vulnerabilities in the power infrastructure during extreme weather.

CHARLOTTE, N.C., Dec. 24, 2022 /PRNewswire/ -- Due to the extreme cold temperatures and subsequent demand for power around much of the nation, electricity supplies are very tight.

As a result, Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP), like a number of other utilities, have urged customers to conserve their usage and in some cases, the company is implementing load shedding steps that include interruptions in service. 

This is necessary to extend available power generation and help maintain operations until additional power is available. 

These outages are temporary and rotated among customers and will continue until additional electricity is available and normal operation of the power grid resumes.

The company expects load shedding to continue until at least 8:30 or 9 a.m. today, Dec. 24.  Load shed rotates in 15–30-minute blocks though that timing may vary.

Duke Energy deeply appreciates our customers' patience and understanding as we work through this extreme weather event and we're doing everything possible to keep the power on for as many people as possible as conditions improve.

Duke Energy crews continue to work to repair remaining outages from Friday's wind storm and will return to normal operations from these temporary outages for all customers as soon as possible.

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.

Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.

Duke Energy was named to Fortune's 2022 "World's Most Admired Companies" list and Forbes' "World's Best Employers" list. More information is available at duke-energy.com. The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on TwitterLinkedInInstagram and Facebook.

24-Hour: 800.559.3853

Cision View original content to download multimedia:https://www.prnewswire.com/news-releases/media-statement-duke-energy-curtailing-energy-load-in-the-carolinas-301709852.html

SOURCE Duke Energy

FAQ

What is the reason for Duke Energy's load shedding on December 24, 2022?

Duke Energy is implementing load shedding due to extreme cold weather, resulting in tight electricity supplies.

How long is Duke Energy's load shedding expected to last?

Load shedding is expected to continue until at least 9 a.m. on December 24, 2022.

What states does Duke Energy serve?

Duke Energy serves customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.

What are Duke Energy's clean energy goals?

Duke Energy aims for net-zero carbon emissions by 2050 as part of its clean energy transition.

How many customers does Duke Energy serve?

Duke Energy serves approximately 8.2 million customers across multiple states.

Duke Energy Corporation

NYSE:DUK

DUK Rankings

DUK Latest News

DUK Stock Data

81.72B
771.31M
0.14%
67.36%
1.18%
Utilities - Regulated Electric
Electric & Other Services Combined
Link
United States of America
CHARLOTTE