Duke Energy signs MoU with Amazon, Google, Microsoft and Nucor for clean energy options

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Duke Energy announced agreements with Amazon, Google, Microsoft and Nucor to explore new and innovative approaches to support carbon-free energy generation.

The companies will develop new tariffs to lower the long-term costs of investing in clean energy technologies like new nuclear and long-duration storage through early commitments.

The proposed Accelerating Clean Energy (ACE) tariffs would enable customers like Amazon, Google, Microsoft and Nucor to support carbon-free energy generation investments through innovative financing structures and contributions that address project risk to lower costs of emerging technologies.

ACE tariffs would facilitate beneficial on-site generation at customer facilities, participation in load flexibility programs and investments in clean energy assets – features attractive to customers with large-scale energy needs.

The ACE framework also would include a Clean Transition Tariff (CTT) – the key feature enabling Duke Energy to provide individualized portfolios of new carbon-free energy to commercial and industrial customers. The CTT would match clean-energy generation and customer load to accelerate overall grid decarbonization. This would be a voluntary program for larger customers seeking to advance their clean energy goals, and it would include protections for non-participating customers.

The ACE tariffs would represent new, voluntary pricing structures for Duke Energy’s large commercial and industrial customers. Duke Energy’s five-year capital plan will continue as planned and these tariffs would be subject to regulatory approvals in North Carolina and South Carolina.

“With the help of companies like Amazon, Google, Microsoft and Nucor, we can accelerate our service of large customer needs and the transition to cleaner energy, while reducing financial risks and supporting economic development in our communities,” Lon Huber, Duke Energy, SVP Pricing and Customer Solutions, said.

“With a footprint of data centers, fulfillment centers and corporate buildings across Ohio, the Carolinas and Florida, we’re excited to collaborate with Duke Energy to find new solutions that can help us achieve our Climate Pledge to be net zero carbon by 2040,” Kevin Miller, Amazon Web Services, Vice President of Global Data Centers, said.

“Through collaboration with Duke Energy, the Clean Transition Tariff creates a pathway for us and our peers to bring new, innovative solutions to the forefront faster, in a region we have called home for more than 15 years,” Briana Kobor, Google, Head of Energy Market Innovation, said.

“Innovative frameworks such as this agreement with Duke Energy support Microsoft’s ambition to have 100 percent of our electricity consumption, matched by zero carbon energy purchases,” Jeff Riles, Microsoft, Director of Datacenter Energy and Sustainability, said.

“Our partnership with Duke Energy evolve through this shared commitment to bring the next generation of clean, reliable, safe and affordable energy to our region while also supporting our net zero goal,” Greg Murphy, Nucor’s Executive Vice President of Business Services, Sustainability and General Counsel, said.

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