Duke Energy Corp. DUK recently unveiled its long-term investment plan along with increasing its current five-year capital target and clean energy projections at the company’s inaugural environmental, social and governance (ESG) day. This comes at a high time when a handful of Utilities across the board are steadily ramping up their carbon-dioxide (CO2) emission reduction goals.
The company now forecasts that its current five-year capital plan will increase by about $2 billion to approximately $58 billion.
Details of the Long-Term Plan
Duke Energy’s recently-announced plan includes acceleration of coal plant retirements in addition to the 50 coal units with capacity worth more than 6,500 megawatts (MW), which it already retired since 2010. The company aims to retire all coal-only units in the Carolinas and reduce methane emissions in its natural gas business to netzero by 2030.
In terms of promoting clean energy, the company now targets to bring its regulated