Duke Energy continues to manage the power grid through sustained cold conditions
Rhea-AI Summary
Duke Energy (NYSE: DUK) is actively managing its power grid during prolonged freezing temperatures, with customer demand expected to peak on Thursday across the Carolinas. The company is implementing a comprehensive plan that includes operating all available generating assets, offering customer energy-saving programs, and purchasing additional power when needed.
The company's preparation involves maintaining power generating assets, real-time analysis, and grid strengthening. While Duke Energy has voluntary programs for residential and business customers to reduce energy consumption in exchange for incentives, it hasn't requested voluntary reductions this week.
To help customers manage energy costs during cold weather, Duke Energy recommends several efficiency measures, including: reducing thermostat settings, setting water heaters to 120 degrees or less, utilizing natural sunlight for warming, operating ceiling fans clockwise, and properly insulating windows. The company serves 8.4 million electric customers across six states and is pursuing a clean energy transition with goals of net-zero methane emissions by 2030 and net-zero carbon emissions by 2050.
Positive
- Strong infrastructure preparedness for peak demand periods
- Established customer incentive programs for energy reduction
- Large customer base of 8.4 million electric and 1.7 million gas customers
- 54,800 megawatts of energy capacity
Negative
- Increased operational pressure due to extreme weather conditions
- Higher system demand potentially affecting grid stability
- Expected peak demand could impact operational costs
News Market Reaction
On the day this news was published, DUK declined 1.76%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- Company also shares tips on ways to save energy and money as temperatures drop this week; b-roll of energy-saving tips available here
"When we have temperatures this cold for this long, it is important for us to use all of the programs that we have available to us based on the demand that we are seeing on the system. These include operating all available generating assets, offering customer energy-saving programs and purchasing available power," said Ben Harrison, Duke Energy vice president of grid operations - planning and operations. "This is the time when we maximize resources to serve our customers."
Duke Energy's year-round preparation includes maintaining and investing in the company's power generating assets, real-time analysis, predictive modeling and strengthening the grid to be more resistant to outages during extreme weather events. The company also has a suite of customer programs that include voluntary programs for residential and business customers to reduce energy consumption when needed in exchange for a participation incentive.
Duke Energy's robust set of tools also include the ability to ask customers to voluntarily reduce their energy use during times of highest energy demand. However, the company has not made this request this week. In the winter, the peak times are in the early morning hours when it is typically the coldest outside and customers are starting their day.
Energy efficiency is also important year-round to save money on your electric bill. When temperatures plummet, 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. You can save as much as
10% a year on heating and cooling by simply turning your thermostat back 7 to 10 degrees per day. - 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.
For energy-saving tips, check out our Winter Energy Savings webpage at duke-energy.com/WinterEnergySavings.
Duke Energy
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in
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 X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.
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SOURCE Duke Energy
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