Why Duke Energy faces big threats from climate change

CHARLOTTE, N.C. — Duke Energy Corp. ranks third among the nation’s utilities for risks from hurricanes due to climate change, with most severe risks along Duke Energy Progress’ coastal Carolina operations and Duke Energy Florida’s Atlantic Coast and central regions.

Duke also ranks high for exposure to extreme rain and flooding.

That is the conclusion of a first-ever report from Moody’s Investors Service and its climate-risk affiliate, Four Twenty Seven, that attempts to quantify the credit risk to the nation’s power utilities from global warming.

'A historic cleanup': Duke Energy agrees to close all NC coal ash basins ?A historic cleanup?: Duke Energy agrees to close all NC coal ash basins

Jairo Chung, senior Moody’s analyst and the primary author of the report, says, “As climate change increases both the frequency and severity of extreme weather events, it is important that utilities maintain some financial cushion and regulatory support to absorb the impact of these physical risks on their infrastructure.”

Read more from the report here.

Read more top trending stories on wsoctv.com:

• Man accused of selling meth to undercover Huntersville officers three times, police say
• ‘Thank God for him’: NC veteran thanks man for saving his life after apartment catches on fire
• WARNING GRAPHIC: Boy’s face slashed with razor after fight at Charlotte middle school
• FORECAST: Sunny skies pave way for drop in temps to start workweek
• Life story of woman kidnapped at birth, raised in SC premieres nationwide

© 2020 Cox Media Group