The Green Source Rider is an experimental program designed to give energy-intensive customers, such as manufacturers, data centers, college campuses and big-box retailers, the option of offsetting some or all of their energy consumption from new load – such as a new or expanded facility – with renewable energy.
"We've been working with our customer groups to explore ways to provide more renewable energy options," said Paul Newton, Duke Energy president – North Carolina. "We are pleased to offer a new program that, if approved, may help to promote economic development and growth of renewable energy in the region, and help our customers achieve their sustainability goals."
The Green Source Rider was filed Nov. 15 in North Carolina by Duke Energy Carolinas.
If approved, the program will be available to Duke Energy Carolinas customers served on industrial rates OPT-G, OPT-H and OPT-I. Customers may elect to offset some or all of their new load with energy generated from renewable energy sources.
"This is the first program Duke Energy has developed that gives customers the option to purchase renewable energy to offset new energy consumption," said Newton. "We designed a program that responds to certain customer requests for more renewable energy, but that does not adversely affect other customers."
Participating customers will make an application to Duke Energy Carolinas requesting an annual amount of energy and renewable energy certificates to be produced or procured over a specific term.
The company will then work to match the supply source and contract term request with generation from a Duke Energy renewable energy source, or with energy supplied through a power purchase agreement with a renewable energy supplier.
The electing customer will then enter into a contract with Duke Energy Carolinas ranging from three to 15 years, depending on the terms of the agreement between Duke Energy and the renewable energy supplier.
Both in-state and out-of-state renewable energy resources may be used to meet the energy requirements of the program, depending on customer preference and availability to meet contract needs.
Renewable energy generation used to meet customer needs through the Green Source Rider is in addition to generation used for compliance with North Carolina's renewable energy portfolio standard.
The Green Source Rider was originally announced in April. Input was gathered from a diverse stakeholder group, including customers, as part of the design process. The proposed program is now under review by the NCUC.
Duke Energy Carolinas owns nuclear, coal-fired, natural gas and hydroelectric generation. That diverse fuel mix provides approximately 20,000 megawatts of owned electric capacity to approximately 2.4 million customers in a 24,000-square-mile service area of North Carolina and South Carolina.
Headquartered in Charlotte, N.C., Duke Energy is a Fortune 250 company traded on the New York Stock Exchange under the symbol DUK. More information about the company is available at: www.duke-energy.com.
Contact: Jeff Brooks
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