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Duke Energy, a large electric and natural gas utility, is based in Charlotte, NC. It owns 58,200 megawatts of base-load and peak generation in the country. The company’s service area is 104,000 square miles. This area of the United States contains 250,000 miles of distribution lines that carry energy to clients. Abroad, this utility operates eight hydroelectric power plants in Brazil with a combined installed capacity of 2,307 megawatts. With 7.1 million customers, Duke Energy might serve your area.
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Potential customers might like to know about the history of Duke Energy. The business was founded as the Catawba Power Company by Dr. Walker Gill Wylie and his brother in 1900. The two entrepreneurs funded the building of a hydroelectric power state at India Hook Shoals on the Catawba River in the Carolinas. In an effort to produce funding for additional plants, Wylie persuaded James Buchanan Duke to invest in the Southern Power Company, created in 1905.
Duke invested heavily in the energy industry. Wateree Power Company was founded as a holding company in 1917 for the various utilities that had been created or bought by Duke, his relatives or associates. In 1924, the business’s name changed to Duke Power. In 1927, several subsidiaries merged into Duke Power, including Southern Power Company, Catawba Power Company, Great Falls Power Company and Western Carolina Power Company. While Southern Public Utilities was owned completely by Duke Power, it remained a separate legal entity.
More transactions occurred in the 1980s and ‘90s. In 1988, Duke Power bought Nantahala Power & Light Company. Duke Power also merged with PanEnergy in 1997. It was that year that the company took on the name Duke Energy. Duke Power remained as the utility business until a merger with Cinergy in 2006.
The purchase of Cinergy was announced in 2005 and completed the next year. It’s because of this growth that the company now also serves customers in the Midwestern United States, including its Ohio customers. During that year, Chatham, Ontario-based Union Gas, was also purchased.
More changes took place in 2007 when the gas business separated from the rest of the company to form Spectra Energy. Today, the company is merged with Progress Energy Inc., but the business still retains the same name. Headquarters have remained in the city of Charlotte, NC.
Use OhioGasCompanies.com to learn more about various natural gas retailers in your area and Duke Energy Retail. OH consumers are more likely to find a suitable energy plan for their home or business with the proper information.