Duke Energy Corporation Research Paper Example | Topics and Well Written Essays - 2000 words

Duke Energy Corporation - Research Paper Example Wylie who was keen on extending his investment to include the general construction of some additional hydroelectric power plants approached and convinced James Buchanan Duke to buy a stake in the newly founded Southern Power Company that had been founded in 1905. Duke formed the Wateree Power in 1917 that helped serve as a holding company for a number of different utilities that were owned or had been founded by Duke, his associates and his family. The name of this company was eventually changed to Duke Power in 1924 and later on in the year 1927, most of the subsidiaries that were previously under the holding company were eventually merged into Duke Power (Scoggins and York County Regional Chamber of Commerce 78). The Growth of Duke Energy Currently, Duke Energy is seen to be operating in various regions across the United States principally through a number of some of its indirect and direct wholly owned subsidiaries. These are seen to include, Duke Energy Carolinas, Duke Energy Ind iana, Inc., Florida Power corporation d/b/a Progress Energy Florida, Inc., Duke Energy Ohio, Inc. (Duke Energy Ohio). The company is also seen to have operations in Latin America via its Duke Energy International, LLC (DEI). Over the years, the company’s segments have grown to include Commercial Power and international Energy and Franchised Electric and Gas (USFE&G). Duke energy has been able to make a number of recent acquisitions such as the July 2012 merger with the Progressive Energy Inc. and as well as its acquisition of the Chilean Campanario Power plant. One of the company’s subsidiaries was able to acquire Iberoamericana de Energia Ibener S.A. (Ibener) which was essentially operating as a subsidiary of the CGE Group. A more recent acquisition of Duke Energy is its June 2013 undisclosed minority stake acquisition of Clean Power Finance Inc. Duke Energy is seen to have a relatively large number of various investments that are generally seen to be categorized as o ther investments. These investments include; its wholly owned, Captive Insurance subsidiary, its Bison insurance Company Limited (Bison), a 50% Interest in DukeNet Communications, contributions to the Duke Energy Foundation, a 60% interest in the Duke Energy Trading and marketing, LLC (DukeNet) and a variety of other related telecommunications businesses (Reuters. Nd). Duke Energy’s U.S Franchised Electric and Gas Segment (U.S.FE&G) This segment of Duke Energy is found to be responsible for the generation, distribution, transmission and eventual sale of electricity in the regions covering northern South Carolina, North Carolina, west central Florida, northern Kentucky and southern, central and north Indiana. USFE&G is also seen to be involved in the transportation and sale of natural gas in the areas around northern Kentucky and southwestern Ohio. In order to effectively conduct its operations USFE&G is seen to primarily operate through Progress Energy Carolinas, Duke Energy Ohio, duke Energy Carolinas, Progress Energy Florida and Duke Energy Indiana. Of note however is that Duke Energy Indiana and Duke Energy Ohio that engage in distribution and transmission operations are collectively referred to as Duke Energy Midwest. The service area covered by USFE&G is found to cover an approximated area of about 10, 000 square miles. USFE&G is seen to be