- Allows for tailored customer solutions to meet large-scale
energy needs
- Enables innovative multi-industry risk-sharing for new
carbon-free energy generation
- Supports Duke Energy's and large customers' commitment to clean
energy
CHARLOTTE, N.C., May 29, 2024
/PRNewswire/ -- Duke Energy (NYSE: DUK), Amazon, Google,
Microsoft and Nucor today announced agreements to explore new and
innovative approaches to support carbon-free energy generation and
help utilities serve the future energy needs of large businesses in
North Carolina and South Carolina. The announcement was made at
the White House Summit on Domestic Nuclear Deployment.
In memorandums of understanding (MOUs) 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 like
new nuclear and long-duration storage through early
commitments.
The proposed Accelerating Clean Energy (ACE) tariffs would
enable large customers like Amazon, Google, Microsoft and Nucor to
directly support carbon-free energy generation investments through
innovative financing structures and contributions that address
project risk to lower costs of emerging technologies. ACE tariffs
would facilitate beneficial on-site generation at customer
facilities, participation in load flexibility programs and
investments in clean energy assets – features attractive to
customers with large-scale energy needs.
The ACE framework also would include a Clean Transition Tariff
(CTT) – the key feature enabling Duke Energy to provide
individualized portfolios of new carbon-free energy to commercial
and industrial customers. The CTT would match clean-energy
generation and customer load to accelerate overall grid
decarbonization. This would be a voluntary program for larger
customers seeking to advance their clean energy goals, and it 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.
The ACE tariffs would represent 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 would be subject to regulatory approvals
in North Carolina and South Carolina.
Comments
In this new era of large-scale energy demand,
Duke Energy is committed to working with our regulators and
customers to find innovative and responsible ways to satisfy the
growing need for more and cleaner energy. With the help of
companies like Amazon, Google, Microsoft and Nucor, we can
accelerate our service of large customer needs and the transition
to cleaner energy, while reducing financial risks and supporting
economic development in our communities.
•
Lon Huber, Duke
Energy, SVP Pricing and Customer Solutions
As the world's largest corporate purchaser of
renewable energy, Amazon is committed to enabling new sources of
carbon-free energy to help power our operations and the communities
where our customers live and work. With a footprint of data
centers, fulfillment centers and corporate buildings across
Ohio, the Carolinas and
Florida, we're excited to
collaborate with Duke Energy to find new solutions that can help us
achieve our Climate Pledge to be net zero carbon by 2040, and
today's agreement marks an important step in that
journey.
• Kevin Miller, Amazon Web Services, Vice
President of Global Data Centers
As we continue to progress toward our goal to
operate every Google campus on clean electricity every hour of
every day by 2030, we are always looking for opportunities to
accelerate the delivery of new clean power to the grid. Through
collaboration with Duke Energy, the Clean Transition Tariff creates
a pathway for us and our peers to bring new, innovative solutions
to the forefront faster, in a region we have called home for more
than 15 years.
•
Briana Kobor, Google,
Head of Energy Market Innovation
Microsoft's aim is to advance groundbreaking
solutions that support the energy transition. Innovative frameworks
such as this agreement with Duke Energy support Microsoft's
ambition to have 100% of our electricity consumption, 100% of the
time, matched by zero carbon energy purchases. We are committed to
creating a more sustainable future as we actively work to add
more clean energy to the grid.
•
Jeff Riles, Microsoft,
Director of Datacenter Energy and Sustainability
Nucor is one of the cleanest and most
sustainable steel producers in the world and has proudly operated
in the Carolinas since the 1960s. We are excited to see our
partnership with Duke Energy evolve through this shared commitment
to bring the next generation of clean, reliable, safe and
affordable energy to our region while also supporting our net zero
goal.
• Greg Murphy, Nucor's Executive Vice President of
Business Services, Sustainability and General Counsel
Duke Energy
Duke 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 utilities
serve 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 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.
Contact: Jennifer Sharpe
24-Hour: 800.559.3853
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SOURCE Duke Energy