close
close

In response to growing demand, Duke Energy, Amazon, Google, Microsoft and Nucor enter into agreements to accelerate the development of clean energy options

Posted on by darion

  • It enables the creation of tailored customer solutions to meet energy needs at scale
  • It enables innovative cross-industry risk sharing for new, emission-free energy production
  • Supports Duke Energy and large customers’ commitment to clean energy

CHARLOTTE, North Carolina, May 29, 2024 /PRNewswire/ — Duke Energy (NYSE: DUK), Amazon, Google, Microsoft and Nucor today announced agreements to explore new and innovative approaches to support zero-emission energy generation and help utilities meet the future energy needs of large enterprises in North Carolina AND South Carolina. The announcement was made during a White House summit on the domestic deployment of nuclear weapons.

In memorandums of understanding signed this month, the companies proposed developing new rate structures, known as “tariffs,” in the utility industry, designed specifically to lower the long-term costs of investing in clean energy technologies such as new nuclear technologies and long-term storage through advance commitments. .

The proposed Accelerating Clean Energy (ACE) tariffs would enable large customers such as Amazon, Google, Microsoft and Nucor to directly support investments in zero-emission energy generation through innovative financing structures and project de-risk contributions to lower the costs of new technologies. ACE tariffs would facilitate beneficial on-site power generation at customer facilities, participation in load flexibility programs, and investment in clean energy assets – features attractive to customers with large energy needs.

The ACE framework would also include a Clean Transition Tariff (CTT) – a key feature enabling Duke Energy to deliver customized portfolios of new zero-emission energy to commercial and industrial customers. CTT would match clean energy generation to customer load to accelerate overall grid decarbonization. This would be a voluntary program for larger customers looking to achieve their clean energy goals and would include protections for non-participating customers.

Next steps and additional information
Duke Energy looks forward to working with other new and existing customers with similar energy needs and sustainability goals.

ACE tariffs would mean new, voluntary pricing structures for Duke Energy’s large commercial and industrial customers. Duke Energy’s five-year capital plan will continue as planned, and these tariffs will be subject to regulatory approval in North Carolina AND South Carolina.

Comments

In this new era of large-scale energy demand, Duke Energy is committed to working with regulators and customers to find innovative and responsible ways to meet the growing demand for more and cleaner energy. With the help of companies like Amazon, Google, Microsoft and Nucor, we can accelerate serving customers’ high demand and the transition to cleaner energy, while reducing financial risk and supporting economic development in our communities.
• Lon HuberDuke Energy, senior vice president of pricing and customer solutions

As the world’s largest corporate buyer of renewable energy, Amazon is committed to making new sources of zero-emission energy available to help power our business and the communities where our customers live and work. It includes data centers, fulfillment centers and corporate buildings OhioKarolina i FloridaWe are excited to work with Duke Energy to find new solutions that help us achieve our climate commitment of net zero carbon emissions by 2040, and today’s agreement is an important step in that direction.
• Kevin MillerAmazon Web Services, vice president of global data centers

As we continue to move toward our goal of having every Google campus powered by clean electricity every hour of every day by 2030, we’re always looking for opportunities to accelerate the delivery of new clean energy to the grid. By partnering with Duke Energy, the Clean Transition Tariff creates an opportunity for us and our partners to accelerate new, innovative solutions to the forefront of the region we have called home for over 15 years.
• Brian KoborGoogle, director of innovation in the energy market

Microsoft’s goal is to develop breakthrough solutions supporting the energy transformation. Innovative frameworks like this agreement with Duke Energy support Microsoft’s ambition to have 100% of our electricity consumption matched by zero carbon energy purchases 100% of the time. We are committed to creating a more sustainable future by actively working to add more clean energy to the grid.
• Jeff RilesMicrosoft, director of data center energy and sustainability

Nucor is one of the cleanest and most sustainable steel producers in the world, proudly operating in the Carolinas since the 1960s. We are pleased that our partnership with Duke Energy is evolving with a shared commitment to providing our region with the next generation of clean, reliable, safe and affordable energy while supporting our net-zero emissions goal.
• Greg MurphyNucor Executive Vice President, Business Services, Sustainability and General Counsel

Duke energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, NC., is one of the largest American energy holdings. The company’s power plants serve 8.4 million customers in… North Carolina, South Carolina, Florida, Indiana, Ohio AND Kentuckyand together they have 54,800 megawatts of generating capacity. Its natural gas businesses serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio AND Kentucky.

Duke Energy is pursuing an ambitious clean energy transition by prioritizing reliability, affordability and availability, striving for net zero methane emissions from its natural gas operations by 2030 and net zero carbon dioxide 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 nuclear power.

More information can be obtained at duke-energy.com and Duke Energy News Center. Follow Duke Energy on TwitterLinkedIn, Instagram and Facebook and visit illumination for stories about the people and innovations driving our energy transition.

Contact: Jennifer Sharpe
24 hours a day: 800.559.3853

SOURCE Duke Energy