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The largest power company in the United States: Duke Energy Corp (DUK) (2005)

Duke Energy Corporation (NYSE: DUK) was established in 2005, formerly known as Duke Energy Holding Corp., changed to its current name in April 2005, and headquartered in Charlotte, North Carolina, with 28,798 full-time employees , Is an enterprise mainly engaged in power supply and natural gas transportation, and is the largest utility company in the United States.

Duke Energy Corporation Logo 1

Duke Energy Corp (DUK):

Duke Energy Corporation is an energy company with three businesses: government-regulated public utilities, international energy, and commercial power.

  1. The business of Duke Energy’s regulated public utilities is mainly operated through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, Duke Energy Ohio, etc.;
  2. Duke Energy’s international energy project is mainly about the operation and management of power generation facilities, and the sales markets of electricity, natural gas and LNG in countries outside the United States;
  3. In terms of commercial power construction, Duke Energy mainly develops and operates wind and solar renewable energy generation and energy transmission projects throughout the continental United States.

Duke Energy mainly conducts business operations through its direct and indirect subsidiaries in the United States and Latin America.

Subsidiaries:

  • Duke Energy Carolinas (formerly Duke Power)
  • Duke Energy Ohio (formerly Cincinnati Gas & Electric Company, via Cinergy)
  • Duke Energy Kentucky (formerly Union Light, Heat & Power, via Cinergy)
  • Duke Energy Indiana (formerly Public Service Indiana, via Cinergy)
  • Duke Energy Florida (formerly Florida Power Company)
  • Duke Energy Progress (formerly Progress Energy)
  • Duke Energy Renewables
  • Duke Energy Retail
  • Duke Energy International

Duke Energy Corp (DUK) History:

  • In 1900, Catawba Power Company was founded as the predecessor of Duke Energy;
  • In 1917, Duke founded Wateree Power Company, another predecessor of Duke Energy;
  • In 1924, the company changed its name to Duke Power;
  • In 1927, many companies, including: Southern Power Company, Catawba Power Company, Great Falls Power Company, Western Carolina Power Company merged into Duke Power;
  • In 1988, Duke Power acquired Nantahala Power & Light Co.;
  • In 1997, Duke Power merged with the natural gas company PanEnergy to form Duke Energy;
  • In 2005, Duke Energy acquired Cinergy Corporation, and the transaction was completed on April 3, 2006;
  • In 2006, Duke Energy acquired Union Gas;
  • On January 3, 2007, Duke Energy spun off its natural gas business (including the newly acquired Union Gas) and established  Spectra Energy (NYSE:SE);
  • On July 3, 2012, Duke Energy merged with Progress Energy Inc;
  • On August 22, 2014, Dynegy Inc, the third largest independent power producer in the United States, announced that it had acquired 12,500 MW of coal and natural gas power generation assets from Duke Energy and Energy Capital Partners for a total of US$6.25 billion. This includes ownership of 11 power plants, as well as Duke Energy’s retail sales department;
  • On October 26, 2015, the U.S. utility giant Duke Energy announced that it would acquire Piedmont Natural Gas at a 40% premium of US$4.9 billion, thereby adding approximately 1 million natural gas users.
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