Page 107 - Bloomberg Businessweek - November 19, 2018

Bloomberg Businessweek The Year Ahead 2019 Energy

Interview Lynn Good

Do you believe in man-made climate change?
What is Duke doing to combat it?

Yes, I believe people are contributing to
climate change. We issued a climate report this
year to very clearly lay out the path we are on.
A 30 percent reduction [in carbon emissions
since 2005] to date, headed to 40 percent [by
2030]. We are proud of the progress we have
made, but our work isn’t finished.

How can the industry do a better job preparing
for big storms?

Grid investment, hardening, and resiliency are
front and center for us. Every time we leave
an event like Hurricane Florence or Hurricane
Michael, we always make note of the parts
of our system which we believe could be
improved. Maybe it’s water protection around
a substation. It might be moving a substation—
52 it might be concrete poles, different types of
wires that are less impacted by vegetation and
other things.

▷ The chairman and chief executive During Hurricane Florence, coal ash spilled
officer of Duke Energy talks from two Duke sites. Should you have acted
sooner to close and secure the storage sites?
about electric vehicles and
the utility industry’s transition Our commitment is to continue closing
to renewable energy basins in a way that makes sense safely and “We are
expeditiously, and that has been our focus for proud of the
a number of years. And that will continue. progress we
What do you see as the biggest challenge in have made,
the coming year? Are there ways that Duke is trying to spur the but our work
adoption of EVs? isn’t finished”
I see the industry focusing on ways that we
can transform by making smart investments in We have 500 charging stations in Florida that
the grid and clean energy. And pursuing new are under way. We are making commitments
technologies like electric vehicles, smart-cities to bring electric vehicles into our own fleet and
initiatives, battery storage. also working with commercial applications.

How has Duke’s power plant portfolio changed What can the utility industry do to promote the
in the past 10 years, and how is it going to growth in electric vehicles?
change over the next 10?
I think the electric industry can play a key
We’ve retired 47 coal units since 2011. In 2005 role in enabling that electrification, both
we might have been 60 percent coal; we are at customers’ homes and in commercial
now down closer to 30 percent. We have also sites, with charging stations that are ready CASSI ALEXANDRA/BLOOMBERG
seen an increase in natural gas. It was about to go. Our grid is ready to use the battery
30 percent in 2017. technologies. <BW> �Mark Chediak