Report: Failing grade for Duke Energy on progress toward clean energy

Mikaela Curry, East/South Beyond Coal campaign manager for the Sierra Club, said Duke supported the passage of legislation this session to roll back a climate law the utility originally supported. The new law eliminates the state’s 70% carbon-cutting goal by 2030 and allows the utility to charge ratepayers in advance for future energy plants.

“It’s been predicted that this cost families and businesses an extra $23 billion in the cost of burning gas at power plants through 2050,” Curry pointed out. “They lobbied in this legislation that really increased risks for families and ratepayers where North Carolina customers assume the risk of cost overruns.”

The study on costs from the legislation concluded the high price volatility of gas would lead to the $23 billion price tag. Duke Energy said the new law will give it more flexibility to meet growing demand. The Dirty Truth report found Duke Energy plans to build out nearly 8,800 megawatts of gas by 2035.

One source of growing electricity demand across the country is data centers. Curry noted the new climate law in North Carolina will allow Duke Energy to charge people for projects which might not be necessary.

“Customers are on the hook still to pay for those things, even if it turns out that all those data centers aren’t built or there’s other ways to manage the load,” Curry explained. “It makes sense for a utility that has shareholders, of course. They are guaranteed rate of return on profits. And so the more that they build, the more opportunity they have to secure profits.”

Curry stressed Duke Energy is focusing on fossil fuel technology, which will drive utility prices up.

“At the same time, Duke is slow-walking getting proven technology on the grid at the pace and scale that we need,” Curry added.

Related: New Duke Energy gas plants approved in NC despite environmental concerns