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Duke Energy serves customers, sets preliminary electric use record in the Carolinas during week of sustained cold temperatures

1. Duke Energy reached a record peak usage of 37,387 MWh. 2. Cold temperatures lasting 65 hours increased electricity consumption. 3. Duke Energy diversifies energy mix for growing demand with nuclear and renewables. 4. Customer energy efficiency tips provided to manage electricity usage. 5. Duke aims for net-zero emissions by 2050 and invests in grid upgrades.

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FAQ

Why Bullish?

Record usage reflects strong demand, positively influencing Duke's revenue potential. Historical examples show higher usage often leads to increased share value.

How important is it?

The article is relevant as it highlights strong demand and operational readiness, critical for investor confidence.

Why Short Term?

Immediate demand spike may enhance profitability over the next quarters. Previous similar patterns suggest quick market response to rising consumption figures.

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Duke Energy sets preliminary new combined utility system usage record; 37,387 MWh today , /PRNewswire/ -- Duke Energy crews and grid operators successfully managed record-breaking power usage while generating and delivering reliable service to customers during an extended period of sustained cold temperatures. The Carolinas service area experienced about 65 hours of freezing or below freezing temperatures beginning Jan. 20, which the area has not experienced since January 2018. Preliminary numbers indicate that Duke Energy Carolinas and Duke Energy Progress achieved a new combined peak usage record on Jan. 23 of 37,387 MWh of electricity consumption, beating the previous record of 36,670 MWh set on Feb. 20, 2015. "When temperatures are cold, our customers count on us to generate and deliver reliable power," said Ben Harrison, Duke Energy vice president of grid operations - planning and operations. "I commend the efforts of the crews at our power plants, in grid control rooms and in the field across the region for their work around the clock. We had a strong plan in place and have worked to help ensure we can reliably serve our customers in all types of weather." Duke Energy relies on a diverse energy mix to meet growing energy needs across the state. That mix includes nuclear, natural gas, hydro renewables and coal, all of which are needed when demand for electricity is high. We expect those energy needs to continue to increase as we work to reliably meet customer and economic growth in the region.  Energy efficiency is important year-round to save money on your electric bill. When temperatures are cold, it is a key time to make small adjustments to manage energy use to help save and avoid bill surprises. Ways to save energy and money as temperatures drop During the winter, reduce your thermostat to the lowest comfortable setting. The longer your house remains at the lower temperature, the more energy you save. Set your water heater to 120 degrees or less. Water heating is typically the second-biggest user of energy in your home. Leave drapes or blinds open on the sunny side of the home to allow the sun's rays to warm the house, but close them at night to help insulate your home. Operate ceiling fans in a clockwise direction in the winter to push warm air back down into the room. Cover drafty windows. Use a heavy-duty, clear plastic sheet on a frame or tape clear plastic film to the inside of window frames during the cold winter months. Make sure the plastic is sealed tightly to the frame to help reduce infiltration. Install tight-fitting, insulating drapes or shades on windows that feel drafty after weatherizing. Get personalized energy usage alerts  Let usage alerts take the stress out of managing energy use. Get notified when you reach your personalized limit, so you're able to make changes and find ways to save before the bill arrives.  The Duke Energy app can also provide daily and hourly usage information, so you can see your unique patterns.  By having a smart meter and an email address on file, customers are automatically enrolled to receive usage alerts that show how much electricity they are using and how much it may cost in time to adjust. Sign in to your online account or create one here.  Get more tips, learn about incentives and sign up for usage alerts and other tools to save money at duke-energy.com/WinterEnergySavings. Tips and solutions to help save all season long The company also has a suite of money-saving programs, tips, guidance and assistance to help lessen seasonal bill impacts. Visit our Winter Energy Savings webpage for more information: duke-energy.com/SeasonalSavings. Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas unit serves 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and advanced nuclear. More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 24-Hour: 800.559.3853 SOURCE Duke Energy WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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