Duke Energy: A Fortune 150 Energy Giant
Company Overview
Duke Energy is a Fortune 150 company headquartered in Charlotte, North Carolina, and is one of America's largest energy holding companies. The company provides electricity and natural gas to customers in six southeastern states, with a total of over 7.2 million customers.
Duke Energy is a publicly traded company, with shares listed on the New York Stock Exchange under the ticker symbol "DUK". The company has a market capitalization of over $70 billion.
History
Duke Energy was founded in 1902 as the Catawba Power Company. The company's early history was marked by a series of mergers and acquisitions, which eventually led to the formation of Duke Power in 1924.
In 1993, Duke Power merged with PanEnergy to form Duke Energy Corporation. The company continued to grow through acquisitions, including the purchase of Progress Energy in 2012.
Operations
Duke Energy operates a diverse portfolio of generation assets, including coal-fired plants, natural gas-fired plants, nuclear plants, and renewable energy sources.
The company also owns and operates a large transmission and distribution network, which delivers electricity to customers in its service area.
Financial Performance
Duke Energy is a financially strong company, with a consistently high credit rating. The company's financial performance has been driven by its diverse portfolio of generation assets and its strong customer base.
In 2022, Duke Energy reported revenue of $25.1 billion and net income of $4.4 billion.
Sustainability
Duke Energy is committed to sustainability and has made significant investments in renewable energy and energy efficiency programs. The company has set a goal of achieving net-zero carbon emissions by 2050.
Duke Energy is also a member of the Climate Leadership Council, a coalition of companies and organizations working to promote carbon pricing.
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