Duke Energy Chief Executive: No emissions can be found outside of nuclear power

As one of the country’s largest energy companies, DUK is on track to halve its 2005 carbon dioxide emissions by half by 2030.

According to CEO Lyn Good, the timeline requires a high degree of dependence on nuclear energy.

The North Carolina utility has about 40 percent of its electricity generated by nuclear power, and the company says it has no plans to achieve zero-zero emissions unless its power source is heavily weighed.

“More than 80 percent of our carbon-free energy comes from nuclear energy,” Good said in an interview with Yahoo Financial All Markets Meeting at The Path Forward. “I want to make that nuclear ship work as much as I can because I have 95% of my time free of carbon-free resources, which represents nuclear today.”

The US already produces more nuclear power than any other country, with 94 reactors supplying 20% โ€‹โ€‹of the total grid. However, the number of reactors has largely stalled, in part due to security concerns and cost overruns. A new nuclear power plant in the United States has been online for the past 25 years.

Photo courtesy of Crystal River, Florida, USA, March 26, 2021, at the Duke Energy Power Complex at the Dome of the steam-powered power plant, March 26, 2021.

With 11 nuclear units in six stations in Carolina, Duke Energy controls the nation’s largest nuclear plant. Reactors account for only 17 percent of the utility’s total capacity, generating a third of the electricity.

According to Good, nuclear power serves as a reliable barrier to natural gas prices and supply fluctuations, which are seen as “bridge fuel” because it emits almost half of the carbon emissions from coal. The rise in global demand for goods has led to more than 20 times lower prices than last summer’s outbreak, according to IAA data.

Duke actively participates in the development of small modular rectifiers or SMRs, producing a new generation of rectifiers that require small footprints and are fast and inexpensive.

“Of course, we are committed to a reliable system. We are always number one. We are committed to extending the licenses of these factories,” Good said. We give [power] In the 2030s and 2040s โ€

View of Cheryl Ford, North Carolina, USA Duke Energy Marshall Power Plant  Photo taken November 29, 2018  It is November 29, 2018.  To relate to the USA-Charcoal Contamination Special Report.  REUTERS / Chris Kin

View of Duke Energy Marshall Power Generation Photo taken by Cheryl Ford, North Carolina, USA November 29, 2018 November 29, 2018. To relate to the USA-Coal / Contamination Special Report. REUTERS / Chris Kin

Widespread nuclear power generation is expected to replace the declining coal footprint. The electricity generated by coal-fired power plants accounts for about a quarter of Dukem’s energy mix, but the company has closed 54 units and plans to shut down “many” in the coming decades, under pressure to reach zero-zero emissions by 2050.

Renewable Energy is expected to be the largest source of energy for the utility company by 2050, he said.

“As we design the future model, we are modeling our system’s hourly delivery, we are monitoring different prices on new technologies, how much electrification will occur and therefore how much more requirements are being met. There will be electricity,” he said. [from renewable energy] We see that 40, maybe 50% of what we do. And then we fill in the rest with other technologies, I don’t even know what some of them are today, because we’re waiting for those developments to happen.

Akiko Fujita is an anchor and reporter for Yaho Finance. Follow her on Twitter. @AkikoFujita

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