In 2024, Duke Energy continued its progress on an energy modernization strategy, as discussed by President and CEO Harry Sideris during the company’s annual shareholder meeting. Sideris emphasized the company’s commitment to “delivering value to our shareholders while meeting our customers’ energy demands – now and into the future.”
Duke Energy’s plans include investing $83 billion over the next five years to enhance reliability and affordability for customers. “Our capital plan reflects $83 billion of investments over the next five years – one of the largest in the regulated industry,” Sideris stated.
The company reported substantial investments in grid improvements, which prevented more than 2.3 million customer outages. It also achieved “constructive outcomes in four rate cases in the Carolinas, Florida and Indiana.” Moreover, Duke Energy progressed on its integrated resource plans in several states and plans to add 5 gigawatts of new natural gas generation by 2029.
Sideris highlighted collaborations with TVA, GE Hitachi, and others on emerging technologies, such as small modular reactors. He noted operational achievements as well, saying, “All of our strategic progress in 2024 was underpinned by a strong foundation and track record of safety and operational excellence.”
Addressing challenges from significant hurricanes, Sideris credited the efforts of its employees and partners. These efforts “included increasing our collaboration with state, local and federal officials and investing more than $10 billion in grid resiliency and storm hardening.”
During the meeting, Sideris and Board Chair Ted Craver addressed shareholder questions. All 14 Director nominees were elected to the Board. A proposal to amend the company’s certificate of incorporation received majority support, while a proposal to report annually on net-zero-related activities did not.
Duke Energy, a Fortune 150 company headquartered in Charlotte, N.C., serves millions of electric and gas customers across the United States. The company focuses on building a smarter energy future with major investments in grid upgrades and cleaner energy generation.
Further information is available on the Duke Energy website, where a replay of the meeting will be posted.
For media inquiries, contact Gillian Moore at 800.559.3853. Analysts may reach Abby Motsinger at 704.382.7624.
