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Inside Duke Energy’s Shift from Coal to Natural Gas Generation

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Fuel mix

Duke Energy (DUK) has been moving away from coal to natural gas generation for the past few quarters. It has been active in renewables’ capacity additions as well. The chart below shows Duke Energy’s current fuel mix and its expected change in 2030.

duke fuel mix

Meanwhile, Southern Company’s (SO) and Duke’s acquisitions of gas distribution companies have facilitated easier access to natural gas. Both these utilities have a coal-dominated (KOL) fuel mix.

However, easier gas supply can conveniently move the fuel mix of these utilities from coal to gas. Many utilities are following this trend, as gas generation is getting more economical.

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