To do so, the group focused on making energy consumption changes to commercial buildings larger than 10,000 square feet. At the time, the group decided on a goal to reduce energy use in the "urban core of the city by 20 percent". The group called the initiative "Envision Charlotte". In 2011, Duke Energy worked with Charlotte’s business leader community to help build Charlotte into a smart city. The spinoff to Spectra also included Union Gas, which Duke Energy acquired the previous year. ![]() After the spin-off, Duke Energy now receives the majority of its revenue from its electric operations in portions of North Carolina, South Carolina, Kentucky, Ohio, and Indiana. Duke Energy shareholders received 1 share of Spectra Energy for each 2 shares of Duke Energy. On January 3, 2007, Duke Energy spun off its gas business to form Spectra Energy. During 2006, Duke Energy also acquired Chatham, Ontario-based Union Gas, which is regulated under the Ontario Energy Board Act (1998). The company operates nuclear power plants, coal-fired plants, conventional hydroelectric plants, natural-gas turbines to handle peak demand, and pumped hydro storage. With the purchase of Cinergy Corporation announced in 2005 and completed on April 3, 2006, Duke Energy Corporation's customer base grew to include the Midwestern United States as well. The facilities include refineries and oil wells throughout the region. The Duke Power name continued as the electric utility business of Duke Energy until the Cinergy merger.ĭuke Energy Field Services near Palestine, Texas. Duke Power merged with PanEnergy, a natural gas company, in 1997 to form Duke Energy. In 1990, Duke sold its remaining transit operations. In 1988, Nantahala Power & Light Co., which served southwestern North Carolina, was purchased by Duke and is now operated under the Duke Power Nantahala Area brand. Southern Public Utilities also operated transit systems, which Duke eventually converted from streetcars to buses. In 1927, most of the subsidiary companies, including Southern Power Company, Catawba Power Company, Great Falls Power Company, and Western Carolina Power Company were merged into Duke Power, although Southern Public Utilities, 100% owned by Duke Power, maintained a legally separate existence for the retail marketing of Duke-generated power to residential and commercial customers. In 1917 James Blaney was the founder of the Wateree Power Company that was formed as a holding company for several utilities that had been founded and/or owned by Duke, and Blaney his associates, and in 1924 the name was changed to Duke Power. Duke and his partner James Blaney to invest in the Southern Power Company, founded in 1905. When he needed additional funding to further his ambitious plan for construction of a series of hydroelectric power plants, Wylie convinced James B. Walker Gill Wylie and his brother financed the building of a hydroelectric power station at India Hook Shoals along the Catawba River near India Hook, South Carolina. The company began in 1900 as the Catawba Power Company when Dr. Duke Energy Progress (formerly Carolina Power and Light, via Progress Energy).Duke Energy Florida (formerly Florida Power Corporation, via Progress Energy).Duke Energy Indiana (formerly Public Service Indiana, via Cinergy).Duke Energy Kentucky (formerly Union Light, Heat & Power, via Cinergy).Duke Energy Ohio (formerly Cincinnati Gas & Electric Company, via Cinergy). ![]()
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