Duke Energy CEO lays out accomplishments at shareholder meeting
Duke Energy CEO Lynn Good laid out the company’s major achievements and milestones last year at the annual shareholders meeting last week.
Good cited several strategic milestones that the company hit in 2023, including repositioning its portfolio.
“We sold our commercial renewables business and became a fully regulated company. This strategic move allows us to focus on the significant investment opportunities within our regulated businesses,” Good said.
The company also added 195,000 new customers in 2023, the largest customer increase in company history. Further, Duke Energy is projecting average overall load growth of 1.5 percent to 2 percent per year through 2028.
Good added that the firm saw constructive outcomes from state commissions in five electric rate cases and one natural gas rate case.
“These rulings in the Carolinas, Kentucky and Ohio equate to $45 billion of historic and future rate base investments and also recognize the higher cost of capital. This will help us continue to deliver value to customers and shareholders,” Good said.
Duke also updated its Carolinas Resource Plan in August 2023, which outlines the road ahead for the next 15 years in the Carolinas.
Good added that Duke is taking a systematic approach to updating the grid and is pursuing emerging technologies to reach its climate goals. The latter includes plans to build and operate the nation’s first solar-to-100 percent hydrogen fueled turbine, expected to be operational by the end of 2024.
“I’m pleased with how the 27,000 teammates at Duke Energy built momentum for the future, navigating the challenges and emerging a stronger organization. We are excited about the path forward as a fully regulated utility and look forward to capitalizing on the unprecedented growth and investment opportunities ahead,” Good said.
At the meeting, Good and Duke Energy President Harry Sideris, who oversees the company’s electric and gas utilities, fielded shareholder questions on a range of topics. Also, shareholders elected all 14 nominees to the company’s Board of Directors.
