Coal, Gas

Duke Energy CEO Predicts Coal Will Vanish From Its Mix

By Editors of Power Engineering

Duke Energy Corp. CEO Lynn Good said she’s preparing Duke for the eventual disappearance of coal generation from the utility’s portfolio, she said today in an interview with Bloomberg.

“I think we’ll still be operating coal in 2030,” she said. “Whether we will be in 2040 I think is a question, or in 2050.”

Good told Bloomberg she plans to build out Piedmont’s pipeline system to support its transition to gas-fired generation.

The changing balance of coal and natural gas prices aren’t the only reason for the planned shift.

“If something breaks at that coal plant, or I have to put capital into it for some reason, these are really tough decisions,” Good told Bloomberg.

Duke Energy has already pursued additional gas assets, especially with its proposed $4.9 billion merger with Piedmont Natural Gas.

That deal is expected to close by the end of 2016 after approval by the North Carolina Utilities Commission.