Duke Energy
Duke Energy is a vertically integrated regulated electric and natural gas utility serving residential, commercial, and industrial customers across six U.S. states. It generates revenue through state commission-approved rates and is executing the industry's largest $103B+ five-year capital plan to expand generation and modernize the grid.
- Company typePublic
- Founded2012
- HeadquartersCharlotte, United States
- Headcount5,001–10,000
- GTM typeB2B and B2C
- OfferingServices
What Duke Energy does
Duke Energy Corporation (NYSE: DUK) is a vertically integrated regulated utility headquartered in Charlotte, North Carolina, serving residential, commercial, and industrial customers across six states — North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky. The company operates through wholly-owned subsidiaries including Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and Piedmont Natural Gas (acquired 2016), and provides electricity generation, transmission, distribution, and natural gas distribution services within exclusive service territories granted by state utility commissions. With 10,000+ employees and origins tracing to 1916 (the current entity was formed through the 2012 merger with Progress Energy), Duke executes what it describes as the largest regulated capital plan in the utility industry at over $103 billion over five years and roughly $200 billion over the next decade, with planned generation capacity increases of 14 GW by 2030.
Duke's technology footprint spans a diversified generation portfolio including nuclear, natural gas, solar, wind, hydroelectric, and battery energy storage systems. Notable technology investments include a 50 MW battery energy storage system activated at the former Allen coal plant in 2026, an early site permit application for 600 MW of advanced nuclear/SMR capacity at Belews Creek targeting 2037, a Smart Meter Gateway enabling customer-side energy monitoring, and the DeBary Hydrogen Production Storage System — the first U.S. end-to-end green hydrogen demonstration. The company has achieved a 44% carbon emissions reduction since 2005 with a net zero commitment by 2050.
Duke's business model is anchored in regulated rate recovery, generating the majority of revenue through electricity sales approved by state utility commissions, with additional revenue from natural gas distribution through Piedmont Natural Gas. A growing share of revenue and contracted load comes from hyperscale data center operators and advanced manufacturing facilities, with cumulative contracted large-load agreements exceeding 4.5 gigawatts. Customer-facing digital products include the Duke Energy mobile app, Duke Energy One platform, paperless billing, prepaid billing, outage management with SMS/text alerts, and income-qualified assistance programs. Recent strategic activity includes a settlement to merge the Duke Energy Carolinas and Duke Energy Progress subsidiaries (targeting January 1, 2027), antitrust litigation settlement with NTE Carolinas, and continued debt financing through convertible senior notes to fund the multi-year capital plan.
Duke Energy firmographics
Firmographics- Name
- Duke Energy
- Legal name
- Duke Energy Corporation
- Website
- https://duke-energy.com
- Company type
- Public
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 5,001–10,000 employees
- Short description
- Duke Energy is a vertically integrated regulated electric and natural gas utility serving residential, commercial, and industrial customers across six U.S. states. It generates revenue through state commission-approved rates and is executing the industry's largest $103B+ five-year capital plan to expand generation and modernize the grid.
- Ownership category
- akta.pro rank
Duke Energy industry classification
Industry- Product category
- Electric and Natural Gas Utility Services
- NAICS
- Natural Gas Distribution (2212), Electric Power Generation, Transmission and Distribution (2211), Natural Gas Distribution (22121)
- SIC
- Natural Gas Distribution (4924), Electric Services (4911), Natural Gas Transmisison & Distribution (4923)
- akta.pro primary industry
- Natural Gas Retail Supply (Residential & SMB) (EUAGAGAD)
- akta.pro secondary industries
- Regulated Natural Gas Utility (LDC) Customer Acquisition & Switching (EUAAADAA), Captive & Embedded Gas-Fired Power Generation (Industrial/Commercial CHP) (EUALALAB)
Keywords
Where Duke Energy is headquartered
LocationHeadquarters
- HQ city
- Charlotte
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Duke Energy business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Technology or R&D, Supply Chain
Revenue model
- Regulated Electric Utility Revenue: Duke Energy generates the majority of its revenue through regulated electricity sales to residential, commercial, and industrial customers across its six-state service territory. Revenue is determined by state regulatory commissions through rate cases that allow recovery of capital investments and operational costs plus a return on equity. The company executed electric service agreements for multiple hyperscale data centers representing cumulative contracted load of over 4.5 gigawatts.
- Natural Gas Distribution Revenue: Duke Energy (through Piedmont Natural Gas) provides natural gas distribution services to customers in North Carolina and other territories, generating regulated revenue from natural gas delivery.
- Infrastructure Investment Revenue: The company is executing a more than $103 billion five-year capital plan (the largest regulated capital plan in the industry) to add new generation, harden equipment, and modernize the grid, with costs recovered through regulated rates.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Regulated utility rates approved by state commissions |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels8 records
Duke Energy product offering
Product offeringCore offering
Duke Energy is a vertically integrated regulated utility that generates, transmits, and distributes electricity and distributes natural gas to residential, commercial, industrial, and government customers across six U.S. states (North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky). The company operates the nation's largest regulated energy grid through wholly-owned subsidiaries (Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana) and distributes natural gas through Piedmont Natural Gas. Customer-facing offerings include digital account management, billing, outage management, energy efficiency, clean energy, and EV programs delivered through a regulated franchise model with rates approved by state utility commissions.
Product overview
Duke Energy operates as a vertically integrated utility (VIU) providing electric and natural gas services through multiple regional subsidiaries. The core product portfolio includes electric power generation, transmission, and distribution through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, and Duke Energy Indiana, plus natural gas distribution through Piedmont Natural Gas. Customer-facing digital products include the Duke Energy mobile app, Duke Energy One platform for account management, paperless billing, online payment services, prepaid billing (Prepaid Advantage), outage management tools with real-time alerts via SMS/text, smart meter gateway for energy monitoring, and special assistance programs. The company also offers clean energy and EV programs, energy efficiency initiatives, and income-qualified services. These products work together to provide comprehensive energy management from power generation through end-user delivery and billing.
Differentiator
Problem solved
Functional benefit
Products and services
- Duke Energy Electric Service Regulated vertically integrated electric utility service spanning power generation, transmission, and distribution to residential, commercial, and industrial customers across North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky through wholly-owned subsidiaries Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, and Duke Energy Indiana.
- Piedmont Natural Gas Natural gas distribution service operated by Duke Energy subsidiary Piedmont Natural Gas Company, Inc., serving residential, commercial, and industrial customers across Duke Energy's service territory including North Carolina.
- Duke Energy Mobile App Standalone mobile application for Duke Energy customers to manage accounts, view and pay bills, report and track outages, access usage analysis, and receive outage and billing alerts; available on iOS and Android.
- Duke Energy One Online customer account management platform providing integrated access to Duke Energy services, account information, billing tools, payments, and usage data for residential and business customers.
Quantifiable outcome
- 44% carbon emissions reduction since 2005, with net zero by 2050 commitment
- +4 more outcomes
Companies that use Duke Energy
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
Duke Energy technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature5 records
Duke Energy partnerships and signals
Strategic signalPartnerships
Seven partnerships are on record, tiered core and minor.
- Smart Electric Power Alliance (SEPA)coreJeff Guldner from Duke Energy Corporation was reappointed to SEPA's Board of Directors, effective January 1, 2026. SEPA is a Smart Electric Power Alliance that brings together utilities and stakeholders to advance clean energy. This board position indicates strategic alignment and thought leadership in the utility sector.
- North Carolina Public StaffcoreParty to the settlement agreement for the proposed merger of Duke Energy Carolinas and Duke Energy Progress. Represents residential consumer interests in regulatory proceedings.
- WalmartminorParty to the settlement agreement for the proposed merger of Duke Energy Carolinas and Duke Energy Progress. Participated as a stakeholder in regulatory proceedings.
- GoogleminorParty to the settlement agreement for the proposed merger of Duke Energy Carolinas and Duke Energy Progress. Participated as a stakeholder in regulatory proceedings.
- NucorminorParty to the settlement agreement for the proposed merger of Duke Energy Carolinas and Duke Energy Progress. Participated as a stakeholder in regulatory proceedings.
- South Carolina Customer GroupscoreSettlement agreement parties for the proposed combination of Duke Energy Carolinas and Duke Energy Progress, guaranteeing customer savings through more efficient operations and reduced capital costs.
- U.S. Nuclear Regulatory CommissioncoreDuke Energy submitted an early site permit application for potential new nuclear development at Belews Creek. The NRC is reviewing the application for site suitability for nuclear generation.
Scale indicators11 records
Recent moves6 records
Expansion highlights6 records
Duke Energy competitors and assessment
Company assessmentDirect peers
- Eversource Energy: New England electric, natural gas, and water utility serving Connecticut, Massachusetts, and New Hampshire. Comparable electric and gas distribution footprint, comparable regulatory framework, and similar clean energy transition exposure.
- American Electric Power: Large multi-state regulated electric transmission and distribution utility serving 11 states. Comparable regulated rate base, comparable capex intensity, and similar reliance on transmission as a growth vector.
- NextEra Energy: Largest US electric utility by market cap with regulated FPL operations and a large renewable generation arm. Comparable vertically integrated model, similar customer scale, and shared exposure to data center demand growth.
- Southern Company: Vertically integrated regulated electric utility serving Georgia, Alabama, and Mississippi with a similar mix of natural gas, nuclear, and renewable generation and a comparable multi-state capital plan. Closest peer to Duke in scale, regulatory structure, and customer mix.
- Xcel Energy: Vertically integrated electric and natural gas utility serving eight Midwestern and Western states. Comparable generation mix transformation, comparable climate-related capex, and similar exposure to data center load growth.
- DTE Energy: Vertically integrated electric and natural gas utility serving Michigan with similar generation mix and significant capital modernization plans. Comparable regulatory structure and customer profile.
- CenterPoint Energy: Regulated electric transmission and distribution and natural gas utility serving Indiana, Texas, Minnesota, Ohio, and Mississippi. Comparable combined electric and gas LDC operations and similar capital plan execution model.
- Consolidated Edison: Vertically integrated electric, gas, and steam utility serving New York City and Westchester. Comparable regulated monopoly model with combined electric and gas distribution, and similar premium service territory dynamics.
- Dominion Energy: Vertically integrated regulated utility with electric and natural gas operations across Virginia, the Carolinas, and Utah. Directly comparable geographic overlap in the Carolinas, similar data center exposure, and significant gas LDC operations.
- Exelon: Pure-play regulated electric transmission and distribution utility serving customers in Illinois, Pennsylvania, Maryland, New Jersey, and DC. Comparable regulated rate base scale and T&D investment thesis.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Duke Energy social profiles
Digital presenceDuke Energy compliance and trust
Trust signalCompliance2 records
Duke Energy financial estimates
Financial estimateRevenue estimate
Valuation estimate
Duke Energy leadership team
Management profileNumber of profiles
Profiles9 records
Duke Energy subsidiaries and ownership
Company hierarchySubsidiaries5 records
Duke Energy funding detail
Funding detailFunding overview
Funding rounds4 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Duke Energy M&A and investment
M&A and investmentM&A3 records
Investments68 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Duke Energy
What does Duke Energy do?
Duke Energy is a vertically integrated regulated utility that generates, transmits, and distributes electricity and distributes natural gas to residential, commercial, industrial, and government customers across six U.S. states (North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky). The company operates the nation's largest regulated energy grid through wholly-owned subsidiaries (Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana) and distributes natural gas through Piedmont Natural Gas. Customer-facing offerings include digital account management, billing, outage management, energy efficiency, clean energy, and EV programs delivered through a regulated franchise model with rates approved by state utility commissions.
Is Duke Energy a public or private company?
Duke Energy is a public company. It is classified as public and is currently operating.
When was Duke Energy founded?
Duke Energy was founded in 2012. It employs 5,001 to 10,000 people.
Where is Duke Energy based?
Duke Energy is headquartered in Charlotte, United States, in the North America region.
How does Duke Energy make money?
Three revenue lines are on record. Regulated Electric Utility Revenue is the primary driver. The others are natural Gas Distribution Revenue and infrastructure Investment Revenue.
Who are Duke Energy's main competitors?
Direct peers on record are Eversource Energy, American Electric Power, NextEra Energy, Southern Company, Xcel Energy, DTE Energy, CenterPoint Energy, Consolidated Edison, Dominion Energy and Exelon.
Does Duke Energy have an API?
No public API is recorded for Duke Energy.
What industry is Duke Energy in?
Duke Energy's product category is Electric and Natural Gas Utility Services. Its primary akta.pro industry code is EUAGAGAD, Natural Gas Retail Supply (Residential & SMB), with a secondary code of EUAAADAA, Regulated Natural Gas Utility (LDC) Customer Acquisition & Switching. Its NAICS code is 2212 and its SIC code is 4924.