Updated Apr. 13, 2017 at 8:06 a.m.

Duke Energy upgrade project to create 14K jobs a year

Published: 2017-04-13 08:06:00
Updated: 2017-04-13 08:06:26

DUKE ENERGY LOGO New Duke Energy logo.

CHARLOTTE—Duke Energy has launched its Power/Forward Carolinas project -- a $13 billion, 10-year program to modernize the state's electric system. It says the initiative will result in nearly 14,000 new jobs a year and more than $1 billion in tax benefits to communities.

Duke says project upgrades will harden the system against storms and outages; make it safer and more resilient against cyber-attacks and physical threats; help expand renewable energy; generate jobs and stimulate economic growth.

It will also give 7 million people in North Carolina more information to manage their energy use.

David Fountain, Duke Energy's North Carolina president said in a statement, "When we improve our energy infrastructure, we not only improve power quality and reliability for everyone, but we help grow our economy and create jobs while keeping energy at a reasonable price."

Duke says the 10-year moderization plan for NC will result in:

  • Additional bill-lowering tools designed to help customers reduce their energy costs
  • An average of 13,900 jobs each year
  • $10.4 billion in salaries and wages
  • Almost $800 million in state taxes and $550 million in local taxes
  • A total economic output of $21.5 billion over the 10 year

It adds that the Power/Forward Carolinas initiative will help the company better serve its customers with focused investments that:

  • Move targeted power lines underground to help reduce outages;
  • enhance grid technologies to self-identify problems and reroute power, decreasing outage numbers and duration;
  • advance smart metering infrastructure to enable more bill-lowering tools;
  • protect against physical and cyber-security threats and keep the grid safe; and
  • support the sustainable growth of renewable energy and emerging technolog

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