Duke Energy Proposes Increasing Its Indiana Energy Efficiency Programs Tenfold October 19, 2007
PLAINFIELD, IND. -
Duke Energy today filed a request with the Indiana Utility Regulatory Commission to increase by more than 10 times the energy savings it gets from its efficiency programs for Indiana customers.
The aim is to reach all Duke Energy consumers with more opportunities to save on their electric bills.
“Energy efficiency will help meet our growing customer power demand by saving watts and not just building new power plants to make watts,” said Duke Energy Indiana President Jim Stanley. “This plan, along with our proposal to build a new coal gasification power plant and use more renewable energy, will give us a ‘silver buckshot’ approach to meeting our customers’ power needs. We’ve been a leader in energy efficiency in Indiana, and this proposal will build on that tradition.”
The company is proposing to reach more customers with voluntary programs such as Smart $aver®, which provides homeowners incentives for purchasing more efficient lighting and air conditioners. The company also is proposing to expand its energy efficiency programs to all commercial and industrial customers, providing them with new opportunities to save money. Duke Energy will be filing more information on its plan with state regulators in November.
Duke Energy believes the focus of energy efficiency should be on how much customers can save and the energy-saving results achieved, rather than on spending targets. If approved, Duke Energy will be compensated only for the actual results produced. The proposal will allow Duke Energy to be compensated for “saved watts” similar to the way they are compensated for producing watts.
“Meeting customer demand with energy efficiency will cost customers about 10 percent less than the cost of building and operating new power plants,” said Ted Schultz, Duke Energy vice president for energy efficiency. “We want to expand the size and reach of our energy efficiency and interruptible power programs and transform energy efficiency into more of a business we can grow. Delivered effectively, energy efficiency can play a critical role in addressing the climate change challenge as well as new power generation needs.
“Initially we will focus on providing customers with options to help them immediately address rising energy prices,” Schultz added. “But this is only the first step. Our long- term vision is to make energy efficiency programs available to every home and business, and to do so in a way that does not sacrifice our customers’ comfort and convenience.”
The Indiana filing follows a similar proposal Duke Energy has filed with other state utility commissions in its service area.
Duke Energy’s Indiana operations provide approximately 7,300 megawatts of safe, reliable and competitively priced electricity to more than 770,000 electric customers, making it the state’s largest electric supplier.
Duke Energy, one of the largest electric power companies in the United States, supplies and delivers energy to approximately 4 million U.S. customers. The company has nearly 37,000 megawatts of electric generating capacity in the Midwest and the Carolinas, and natural gas distribution services in Ohio and Kentucky. In addition, Duke Energy has more than 4,000 megawatts of electric generation in Latin America, and is a joint-venture partner in a U.S. real estate company.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 500 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available on the Internet at: www.duke-energy.com.
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