In this edition of our Transition Files Journal, we celebrate our coverage of US Power and Utilities corporates with a rigorous look behind the scenes at bellwether players in the space: Duke Energy (DUK) and NextEra (NEE).

In the journal we:

  • Explore how ready is the US vertically integrated utilities for the challenges & opportunities posed by the climate crisis and the reactant technology changes it is bringing about.
  • Pick apart the key aspects of Duke Energy’s transition plan. Using classical financial analysis, we zoom in on the strategic steps that the company could implement and the value implications of a full Paris Agreement alignment.
  • Deep-dive into the implications of NextEra’s portfolio of natural gas plants for Paris alignment, the coal generation assets phase-out, the potential for hydrogen blending, as well as the opportunities arising from the Inflation Reduction Act.
  • Explore the benefits of a regulation-based valuation approach and challenge some of the traditional valuation approaches currently used.

Carbon Tracker has a long tradition of converting climate science into financial risk and reward.

So, if you are an investment professional and have any questions on the material within, feel free to email Will at