Careers at Duke Energy
Duke Energy generates and distributes energy to residential, commercial, and industrial customers, with a view to providing efficient and affordable utilities.
Duke Energy aligns its operations into three reportable business segments:
- Regulated Utilities, which comprises the Company’s electric and natural gas utilities operations, as well as its electricity wholesale business, conducted primarily through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana, and Duke Energy Ohio;
- International Energy, which principally operates and manages power generation facilities and engages in sales and marketing of electric power, natural gas, and natural gas liquids outside the US; and
- Commercial Portfolio, which primarily acquires, builds, develops, and operates wind and solar renewable generation and energy transmission projects throughout the continental US.
Duke Energy traces its roots back to the establishment of the Catawba Power Company in 1900 by Walker Gill Wylie and his brother. This was followed by the establishment of Southern Power Company, with James Buchanan Duke (“Duke”) brought on as an investor. In 1917 the Wateree Power Company was founded as a holding company for several utilities owned by Duke and his associates, which in 1924 was renamed Duke Power.
The majority of Duke Power’s subsidiary companies – including Southern Power Company, Catawba Power Company, Great Falls Power Company, and Western Carolina Power Company – were merged into Duke Power. The Company continued to expand, and in 1997 merged its operations with those of natural gas company PanEnergy, followed by a merger with Cinergy in 2005.
Today, Duke Energy operates a retail energy distribution business across several US states, as well as power generation operations in the US and across Latin America, including in Brazil, Peru, Guatemala, and Ecuador. The Company employs more than 29,000 workers and generates revenue in excess of $20 billion. The Company is placed 123rd on the Fortune 500 list, and trades a portion of its shares on the New York Stock Exchange. Duke Energy has a current market capitalisation of $55.13 billion.
Business model of Duke Energy
Duke Energy provides a range of energy-related services, serving various segments of the energy sector. The Company’s customers can be divided by service category:
- Retail Customers, comprising residential customers, commercial businesses, and industrial companies and facilities to which the Company provides utilities; and
- Wholesale Customers, comprising retail energy distributors, energy marketers, local energy transmission companies, independent power producers, energy cooperatives, and municipal bodies to which the Company sells energy in bulk orders or provides transmission services;
Duke Energy primarily serves customers in its native US, with its Regulated Utilities business unit providing utilities to 7.4 million retail electric customers in six states in the Southeast and Midwest regions of the US, including Kentucky, Ohio, and Tennessee. The Company also serves an international client base, primarily comprising customers across Latin America.
Duke Energy provides value to its customers in the following ways:
- Its industry standing, with the Company established as one of the largest and most reliable regional utility companies in the US, generating revenue in excess of $23 billion;
- Its portfolio of services, with the Company providing a range of services to a broad spectrum of customers across the energy sector, including retail utility services, wholesale energy sales, and other related services;
- Its diversified portfolio of power generation assets, with the Company providing energy generated through a network of power generation facilities of all kinds, including coal, gas and oil, nuclear, hydroelectric and solar plants; and
- Its international reach, with the Company serving a large customer base across a number of US states, as well as international customers, primarily in Latin America, but also across the Middle East, notably in Saudi Arabia;
- Its industry expertise and experience, with the Company employing specialist personnel across each of its operating segments, as well a team of experienced industry executives.
Duke Energy operates a website at www.duke-energy.com, through which it provides information on its various services, locations, and facilities. The Company does not operate an online sales channel. It does, however, provide an online customer portal, which allows customers to manage the details of their accounts and make payments.
Duke Energy makes its sales through individual sales teams across its operating divisions and segments, which deal directly with customers. The Company operates separate sales and support locations across Ohio, North Carolina, South Carolina, Indian, Tennessee, and Florida, as well as a dedicated international sales unit. The Company also sells energy in bulk through a dedicated wholesale sales team.
Duke Energy operates its own power generation facilities, including solar, hydroelectric, nuclear, coal, and oil and gas plants across the US, Brazil, Chile, Peru, Argentina, Guatemala, Ecuador, and El Salvador. The Company also operates its own transmission infrastructure in its operating jurisdictions.
Duke Energy does not make sales to customers on a self-service basis. It does, however, operate an online customer portal that allows the Company’s retail customers to manage their accounts, make payments, and monitor usage without interacting with members of Duke Energy’s sales and support staff. Customers can also request light repairs and manage outage alerts on a self-service basis.
Duke Energy makes sale dedicated sales teams across its various operating units. The Company in particular consults closely with its wholesale customers, with which it seeks to establish long-term business relationships. Large commercial and industrial companies are typically provided their own account management teams.
Duke Energy operates customer support teams across its operating jurisdictions in the US, which can be contacted over the phone or online and are able to provide personalised responses to queries and complaints. The Company also provides a range of online resources, such as guides and FAQs. Additionally, customers are able to interact directly with the Company through its social media accounts, including with Facebook, Twitter, LinkedIn, YouTube.
Duke Energy is an energy company. It organises its activities into three reportable business segments: Regulated Utilities, which conducts retail energy production and distribution operations through Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio; International Energy, which operates and manages power generation facilities and engages in sales and marketing of electric power, natural gas, and natural gas liquids outside the US; and Commercial Portfolio, which acquires, builds, develops and operates wind and solar renewable generation and energy transmission projects.
Duke Energy provides retail utilities to residential, commercial, and industrial customers, and provides wholesale energy services to energy distribution companies and energy cooperatives.
Duke Energy works closely with a broad range of companies and organisations across its three operating segments. These partners include:
- Supplier and Vendor Partners, comprising suppliers of raw materials and equipment used in the Company’s power generation activities, as well as suppliers of services, tools, and technologies that are utilised more broadly across the enterprise;
- Development and Real Estate Partners, comprising builders, developers, and contractors that work with the Company on developing its own power assets, as well as working together more general on development and construction projects outside of the energy sector;
- Asset Recovery and Recycling Partners, comprising a range of companies and organisations that work with the Company on its asset recovery and recycling projects, including the reselling, scrapping, recycling, or disposing of end-of-life assets; and
- Commercial and Trade Partners, comprising a range of commercial entities that collaborate with the Company as part of its energy efficiency incentive program.
Duke Energy has recently launched a number of partnerships. This includes a tie-up with Green Charge Networks to develop behind-the-meter energy storage solutions, and a partnership with Duke University to develop a cleaner and more efficient source of power for the Duke University community.
Duke Energy’s key resources raw materials and supply chain, its power generation assets, its distribution and transmission infrastructure, its IT and communications infrastructure, its sales and marketing channels, its partnerships, and its personnel.
Duke Energy owns and or leases a number of properties that are key to the success of its operations. This notably includes the Company’s network of numerous nuclear, fossil fuel, and renewable energy power plants across the US and Latin America – including in Brazil, Chile, Peru, Argentina, Guatemala, Ecuador, and El Salvador. The Company also operates an extensive network of electric transmission lines, overhead and underground electric distribution lines, gas mains, and gas service lines that distribute both its own product and that of certain customers.
Duke Energy incurs costs in relation to the procurement of raw materials and supplies, the purchasing of energy from third parties, the operation and maintenance of its power generation and distribution infrastructure, the maintenance of its IT and communications infrastructure, the operation of its sales and marketing channels, the management of its partnerships, and the retention of its personnel.
In 2015 Duke Energy recorded total operating costs of $16.7 billion. This included fuel and purchased power costs in the amount of $7.66 billion, operation and maintenance costs of $5.87 billion, and property and other tax costs totalling $1.14 billion. The Company’s cost of natural gas for the year was $195 million.
Duke Energy generates primarily revenue through the production and sale of energy on the retail and wholesale markets. The Company also derives a portion of its revenue from the provision of other energy-related services, including the distribution of power and gas from third parties through its proprietary distribution lines.
In 2015 Duke Energy generated total operating revenue for the year in the amount of $23.46 billion, down slightly on the $23.93 billion recorded by the Company the previous year. The majority of the Company’s revenue is generated from its regulated electric activities, which alone recorded annual revenue of $21.38 billion.
info: Lynn Good (“Good”) has served as Chief Executive Officer at Duke Energy since 2013, She also serves as the Company’s Chairman and President, sits on the Board of Directors at Boeing and the Institute of Nuclear Power Operations, and is a member of the executive committee of the Edison Electric Institute. Good began her career at Arthur Andersen, where she served in various roles, working her way up to the position of partner. She moved into the utilities sector in 2003, when she joined Cincinnati-based Cinergy. Cinergy merged with Duke Energy three years later. Prior to assuming her current role, Good served as Duke Energy’s Chief Financial Officer.
info: Dhiaa Jamil (“Jamil”) has served as Executive Vice President and Chief Operating Officer at Duke Energy since 2016. He is responsible for overseeing all power generation in the Company’s Regulated Utilities segment, including nuclear, fossil and hydro generation, as well as for companywide project management and construction operations. Jamil has been with Duke Energy since 1981, when he joined Duke Power as an engineer in the Design Engineering department. He went on hold various management roles at the Company’s Oconee, McGuire and Catawba nuclear stations, including station manager and Site Vice President, before being named Senior Vice President of nuclear support in 2006. He has since served in a number of senior leaderships roles, including spells as President of the Company’s regulated generation and transmission organisations, and President of Duke Energy Nuclear.
info: Steven Young has served as Executive Vice President and Chief Financial Officer at Duke Energy since 2013. He leads the Company’s financial operations, including those of the controller’s office, treasury, tax, risk management and insurance, as well as corporate strategy and development departments. Young joined Duke Power in 1980. He has held numerous senior leaderships roles at the Company, including a spell as Chief Financial Officer at Duke Power.
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