Power Demand Surge Is Complicating Carbon Goals, Duke CEO Says
(Bloomberg) -- The enormous increase in electricity demand driven by manufacturing and artificial intelligence complicates utility Duke Energy Corp.’s goals to cut carbon emissions, Chief Executive Officer Lynn Good said Tuesday.
Duke, which serves parts of the US Southeast and Midwest, has set a goal to close all its coal-fired power plants by 2035 and to reach net-zero carbon emissions by 2050.
“That plan is being challenged by all of the growth” in power consumption, Good said onstage at the Columbia Global Energy Summit in New York. “These are all dynamics that we are wrestling with.”
Electric utilities and regulators have been caught off guard by the biggest demand jump in a generation. In order to handle the surge, some power companies have delayed the shutdown of plants that burn fossil fuels and others have petitioned regulators for permission to build new gas-fired generation.
©2024 Bloomberg L.P.
KEEPING THE ENERGY INDUSTRY CONNECTED
Subscribe to our newsletter and get the best of Energy Connects directly to your inbox each week.
By subscribing, you agree to the processing of your personal data by dmg events as described in the Privacy Policy.
More gas & LNG news
US Widens Sanctions on Iran to Target Lucrative Gas Exports
China Stops Imports of US LNG Amid Trade War, Custom Data Shows
China’s Shipowners Seek to Continue Talks With US on Levies
EU’s Costa Says Russian LNG Phase-Out Makes Room for US Supplies
Fracker Liberty’s Profit Falls to 3-Year Low as Oil Slumps
Uniper and Woodside sign LNG supply agreements
Vista Buys Petronas’ Argentina Oil Stake in $1.5 Billion Deal
Emerson launches Global LNG Solutions Centre in Qatar
Woodside hires Mexico Pacific CEO Sarah Bairstow as Louisiana LNG head
