DUKPRA Latest Report

Key Financial Data

1. In 2024, Duke Energy's total operating revenue from its Class A preferred stock was US$7.36 billion, up US$148 million from US$7.212 billion in 2023, a 2.00% increase.

2. This growth indicates an improvement in the company's sales capacity in the market, albeit with a relatively small increase, but still showing stability.

3. The main reasons for the growth include the recovery of electricity demand, price adjustments, new customer acquisition, and stable electricity supply.

Peer Comparison

1. Industry-wide analysis: The overall power industry faced pressure for energy transition in 2024, with overall electricity demand maintaining stable growth, especially under the promotion of renewable energy, leading to an increase in the operating revenue of many companies. According to industry reports, the electricity consumption of the first and third industries increased by 6.3% and 9.9% year-on-year respectively [source](http://www.sse.com.cn/disclosure/listedinfo/announcement/c/new/2025-02-25/603050_20250225_VGZ8.pdf).

2. Peer evaluation analysis: Duke Energy's total operating revenue growth was slightly lower than the industry average, with competitors gaining higher revenue growth through investments in renewable energy projects, showing that Duke Energy needs to strengthen business transformation and innovation in the market competition.

Summary

Although Duke Energy's total operating revenue in 2024 achieved a slight growth, it was lower than that of other competitors in the industry, indicating the fierce competition and complex market environment. The recovery of electricity demand and price adjustments were the main growth factors, but the company needs to further enhance business innovation to maintain its market share.

Opportunities

1. Strengthen investment in renewable energy projects to adapt to market transformation trends.

2. Attract new customers and expand market share through improved customer service and marketing strategies.

3. Adjust electricity sales prices in a timely manner to respond to market demand fluctuations and increase revenue.

Risks

1. Increased competition within the industry, with other competitors likely to lower prices or improve services, affecting market share.

2. Fluctuations in electricity sales prices may affect overall revenue, especially during peak demand seasons.

3. Reduced fuel and capacity income may put pressure on the company's profitability.