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Duke Energy reported a $531 million loss for the fourth quarter as it wrote down the value of its commercial renewable energy business that's up for sale. The Charlotte-based company also announced plans to cut $300 million in expenses this year, including through layoffs mainly in Charlotte.
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North Carolina will need more electric vehicles on the road, cleaner energy sources and a faster shift away from fossil fuels in all parts of the economy to meet its climate goals, according to a new report from Gov. Roy Cooper's office.
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Duke Energy has asked North Carolina regulators to approve the expansion of a program that lets large customers contract for renewable energy. The Charlotte-based utility company also wants to offer renewable energy credits to customers who want to support the shift to clean energy to fight climate change.
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Expanding solar energy and integrating the power grid more closely with surrounding states could help prevent blackouts like the ones across the Carolinas on Christmas Eve, according to a new study by environmental and renewable energy groups.
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Duke Energy is asking state regulators for a 15.7% rate increase over three years for central and western North Carolina, including Charlotte. Increases for residential customers would grow slightly faster than that.
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One of the longstanding arguments against renewable energy like wind and solar is that it's not as reliable as conventional power plants. But the Christmas Eve rolling blackouts in North Carolina turned that conventional wisdom on its head.
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State regulators face a year-end deadline to decide how Duke Energy will eliminate carbon emissions at power plants to meet the state's climate goals. After a year of debate, the North Carolina Utilities Commission is expected to issue an order next week.
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Duke Energy says it will go ahead with the sale of its commercial renewable energy business, after studying the idea since August. The Charlotte-based company thinks the spinoff will make its remaining regulated businesses more attractive to investors.
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NC Attorney General Josh Stein says state regulators should reject Duke Energy's proposals for reducing carbon from energy generation and instead, adopt a plan that meets the state's clean energy goals and costs less.
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Duke Energy says it's considering the sale of its commercial renewable energy business, to focus future investments on its consumer utilities. The Charlotte-based company announced a "strategic review" of the business as part of its quarterly profit report this morning.