2023 年年度公用事業(yè)脫碳報告（英）

AnnualUtility

Report

2023

BROUGHTTOYOUINPARTNERSHIPWITH

APTA，T

TheAnnualUtilityDecarbonizationReport

isadeepdiveintothestateofdecarbonization

acrossthetop47investor-ownedutilities

(IOUs)intheUnitedStatesbasedontheir

electricitygeneration.

Thereportutilizesarankingsystemthatfocuseson

sixkeymetricsrelatedtoeachutility’s2021*fuelmix,

CO2emissions,decarbonizationgoals,

andlow-carboninvestments.

*Dateofdatacollection:April2023

prefaceii

npucannualutilitydecarbonizationreport2023

CHANGEAND

OPPORTUNITY

Electricpowerisavitalcomponentforevery

facetoftheeconomy.

Thisreportaimstoinform,support,andencouragetherapiddecarbonizationof

theelectricitysectorusingdata-informedanalysis.

Thisyear'sreportemphasizeschange

andopportunityintheutilitysector.

Itdiscussestheurgentneedforchange,industryprogress

sincethereleaseofthelastreport,andstrategiesfor

acceleratedchangeintheracetonet-zero.

Alsohighlightedaretheadvantagesofdecarbonization,

emphasizingthatsustainabilityo?ersbothsigni?cant

competitiveand?nancialopportunities.

prefaceiii

npucannualutilitydecarbonizationreport2023

TABLEOF

CONTENTS

01

02

03

6Reasonsfor

DecarbonizingUtilities

CLHhoigaohlllekignihgntesgsBackat2021–2022

ChangesintheIndex

The2023U.S.Utilities

DecarbonizationIndex

ionIndex

Year-to-YearProgression

01

07

09

10

14

15

30

npucannualutilitydecarbonizationreport2023

04

05

06

07

TheU.S.Utilities

ESGReportCard

Methodology

32

ESGReportCard

33

ESGReportingStandards

36

DecarbonizationStrategies

forU.S.Utilities

Obstacles

38

Strategies

39

AboutUs

AboutNPUC

46

Collaborators

48

Bibliography

50

prefaceiv

6REASONS

FORDECARBONIZING

UTILITIES

THEGROUNDSFORCHANGE

Powergenerationisthesecondlargestsourceofgreenhousegas(GHG)emissionsintheU.S.1

behindtransportation.

Herearesixreasons

whyutilitiesneedto

decarbonizeandmake

theshifttowardcleaner

energysourcesand

operationalpractices.

npucannualutilitydecarbonizationreport2023

REASON01

MOUNTING

LEVELSOFCO2

The2023IPCC*report2warnsthat

human-causedclimatechangeisalready

a?ectingglobalclimateandweatherextremes.

AsCO2concentrationsandglobaltemperatures

continuetorise,thereisamorepressingneedforimmediateactiontowarddecarbonizationacrossallsectors.Speci?callyforutilities,shiftingaway

fromemission-intensiveelectricitysourcesismoreimportantthaneverbefore.

U.S.ELECTRICITYGENERATIONBYSOURCE,1990–2021

100%

75%

50%

25%

0%

In2021,greenhousegas

emissionsfromelectric

powerintheU.S.weremore

than1,500millionmetric

tonsofCO2equivalent.

Coal

NaturalGas

Nuclear

Hydroelectric

Solar

Wind

Other

1990

2000

2010

2020

SourceInternationalEnergyAgency3

*IntergovernmentalPanelonClimateChange

016reasonsfordecarbonizingutilities02

Decarbonizingtheelectricitysectorcould

triggerdecarbonizationinothersectorsthatrelyonelectricity,resultinginadominoe?ect.

U.S.RETAIL

Transportation

REASON03

THEESG

ADVANTAGE

GLOBAL

PROFESSIONALLY

MANAGEDFINANCIALASSETS

Theadoptionofsustainablepracticesisacompetitive

advantageforutilities.

Itcanattractclimate-consciousinvestors,enhancebrand

reputation,boostinvestor

con?dence,andstrengthenrelationshipswithregulators.

ESGmandated

Non-ESGmandated

2014–2025*

2014

2016

2018

2020

2021?

2022?

2023?

2024?

2025?

$19T$45T

$19T$50T

$27T$53T

$39T$69T$46T$71T

By2024,over50%ofallprofessionallymanagedassetsareforecastedtobeESG-mandated.

$55T$72T

$67T$72T

$80T$71T

$96T$69T

SourceDeloitte5*Asof2021evaluation?=Expected?=Forecast

016reasonsfordecarbonizingutilities03

REASON02

GROWING

DEMAND

Withpopulationgrowth,electri?cation,

andincreasedindustrialactivity—especiallyin

thetechnologysector—electricitydemandin

DirectUse

theU.S.andacrosstheglobeisrisingeachyear.

ELECTRICITYSALES

BYSECTOR,1950–2022

TrillionkWh

2

Commercial

Industrial

Residential

1

19501960197019801990200020102020

SourceU.S.EIA4

npucannualutilitydecarbonizationreport2023

4

3

2

1

0

REASON04

MONETARY

INCENTIVES

Utilitiescanreapsigni?cantmonetaryadvantagesfromdecarbonization.

Examplesofsuchadvantagesincludelowerfuelcosts,increasedrevenuestreams(e.g.,throughthesaleof

renewableenergycredits),reduced

regulatorycosts,andincreased

opportunitiestoobtaintaxcredits.

Inturn,consumersalsostandtobene?tfromlowercostsorrebatesasaresultofmorecompetitivepricing.

SourceU.S.CongressionalBudgetO?ce6

CLEANENERGYANDCLIMATEFUNDINGINTHE

INFLATIONREDUCTIONACT2022–2031ESTIMATEDSPENDING,USD

$161B

CleanElectricity

TaxCredits

$42B

AirPollution,Hazardous

Materials,

Transportation&Infrastructure

$36B

CleanFuel&VehicleTaxCredits

$37B

IndividualClean

EnergyIncentives

$37B

CleanManufacturingTaxCredits

$18B

Other

$35B

Conservation,Rural

Development,Forestry

$27B

BuildingEficiency,Electri?cation,

Transmission,IndustrialFacilities,

DOEGrants&Loans

016reasonsfordecarbonizingutilities04

npucannualutilitydecarbonizationreport2023

REASON05

ELECTRIFIED

TRANSPORT

LIFE-CYCLEEMISSIONSOFABATTERY

ELECTRICVEHICLE

tCO2EQUIVALENT

Asthetransportation?eet

electri?esacrosstheworld,thetwosectorscontributingthemosttoGHGemissions,electricityandtransportation,aremerging.

Decarbonizingelectricityhasthepowertodecarbonizetheusephaseemissionsofall

electricvehicles(EVs).

Emissionsfromelectricity

generationisbyfarthemostemission-intensivestageinanEV’slifecycle.

Battery

manufacturing

Vehicle

manufacturing

Fuel/electricityproduction

Tailpipeemissions

+5

+9

+26

+1

Maintenance

-2

Recycling

Total39tCO2e

Forcontext,acombustionenginevehicle'slife-cycleemissionsare55tCO2e.

Chartdisplayslife-cycleemissionsforamedium-sizedEV.SourcePolestarandRivianPathwayReport,20237

npucannualutilitydecarbonizationreport2023

REASON06

ENERGY

SECURITY

AsdemonstratedbytheRussia-Ukrainecon?ictin2022,dependenceonforeignoilandgascantriggereconomic

shockwaves.

Embracingcleanenergysourceslike

wind,solar,andnuclearenhancesenergysecurity,reducingdependencyonothernationsandprotectingagainstfossilfuelpricevolatilityandsupplydisruptions.

FOSSILFUELPRICES2021–2022

NaturalGasEuros/MWh400EUDutchTTF

CrudeOilUSD/barrel150

WTI

75

0

200

0

2022

2023

2021

2022

2023

2021

CoalUSD/tonne500

Globalfossilfuelprices

experiencedasurgein

2022,reachingsomeofthehighestpriceswitnessedinthelastdecade.

250

0

Newcastle

2022

2023

2021

SourceTradingEconomics8

016reasonsfordecarbonizingutilities05

LOOKINGBACKAT

20212022

CHANGESTOCONSIDER

Highlights07

Challenges09

ChangesintheIndex10

Herearesomehighlightsandchallengesthatthe

utilitysectorfacedin2021and2022withintheU.S.

andbeyond,aswellas

someofthechangesyoucanexpectinthisyear’sDecarbonizationIndex.

npucannualutilitydecarbonizationreport2023

CASESTUDY

ENERGYVAULT

X

PG&EAND

ENERGYVAULT’S

LDESPROJECT

PG&EispartneringwithEnergyVaulttodeployautility-scalebatteryplusgreenhydrogenLDESsystem.

Thesystemisdesignedtohavea

minimumof293MWhofdispatchableenergytopowerthecityofCalistogafor48+hoursduringshuto?s,

replacingdieselgenerators.

HIGHLIGHT

THERISEOFNEW

TECHNOLOGIES

Therehasbeenincreasedpublicandprivate

focusonemergingenergytechnologiesfor

decarbonization,suchas:

LONG-DURATION

ENERGYSTORAGELDES

SMALLMODULAR

REACTORS

GREENHYDROGEN

Thesetechnologiesarecriticaltoenable

reliablerenewableenergyintegration,

enhancegrid?exibility,andfacilitatethe

transitiontoacleanenergyfuture.

SourcePG&E,EnergyVaultviaBusinessWire9

02lookingbackat2021-202207

HIGHLIGHT

NUCLEAR’SGLOBAL

TURNAROUND

Thereisaresurgenceofnuclearpower

acrosstheworld.Speci?callybecause:

01

02

03

ENERGYSECURITY

hasbecomeaprioritypost-energy

crisis,andnuclearisageopolitically

secureenergysource.

THERACETONET-ZERO

willbecheaperandmoree?cientwith

nuclearpowercomplementingrenewables.

TECHNOLOGICALADVANCEMENTS

likesmallmodularreactorsandspent

fuelrecyclingenhancethesafetyand

a?ordabilityofnuclearplants.

HIGHLIGHT

THEINFLATION

REDUCTIONACT

In2022,theIn?ationReductionAct

(IRA)wassignedintolaw.

Withincentivesforcleanelectricity

productionandinvestment,itis

projectedtodrivedownpower

sectoremissionsthrough2030.

THEIRA’SPREDICTEDIMPACT

ONU.S.GHGEMISSIONS

MetrictonsofCO2e

7B

5B

3B

%below2005levels

Currentpolicy

24–35%

32–42%

IRA

U.S.ParisAgreement2030target

2020

2010

203050–52%

SourceRhodiumGroup10

02lookingbackat2021-202208

npucannualutilitydecarbonizationreport2023

CHALLENGE

ALARMING

CLIMATE

DISASTERS

Theimpactsofclimatechangewerefeltacrosstheworldin2022.

THECOSTLIEST

EXTREMEWEATHERDISASTERSOF2022

USD

$113B

HurricaneIan

Cuba,U.S.

September

$22B

Southwestern

drought,U.S.

Yearround

>$20B

European

drought

June-September

>$12B

China?oods

June-

September

>$8B

Chinadrought

Yearround

Theincreasedfrequencyand

intensityofextremeweather

eventsrelatedtoclimatechangeposechallengesforutilities,

necessitatingresilient

infrastructureanddisasterpreparednessmeasures.

SourcesUNO?ceforDisasterRiskReduction,11NOAA12

npucannualutilitydecarbonizationreport2023

CHALLENGE

ENERGYCRISIS

RESHAPESU.S.

FUELMIX

Duetorisingnaturalgascostsafterthepandemic,

thepowersectorincreaseditsuseofcoalin2021,

demonstratingtheabilityofmarket?uctuationsto

hinderprogresstowardcleanerenergysources.

COAL-FIREDNETELECTRICITY

GENERATIONFROMTHE

TOP30U.S.IOUS*

2020VS.2021

23%oftotalnetgeneration

2020

477MMWh

2021

563MMWh

29%oftotalnet

generation

*Basedonutilitiesincludedinthisreport.

02lookingbackat2021-202209

CHANGESINTHE

DECARBONIZATION

INDEX

Thisyear,we’veexpandedandupgradedthe

DecarbonizationReporttoincludemoreutilities.

Herearesomeofthechangesyou’llseeasaresult.

Herearesomehighlights

utili30lastyearoArssuch,theireportehasawider

01d,sto

pastscopeaarndportraysatmoreaccu.ratepicture

andofdecarbonizationinthepowersector.

U.S.NETELECTRICITY

GENERATION

4.1B

MWh

U.S.Total

2021

2.7B

MWh

Top47IOUs

U.S.ELECTRICCUSTOMERS,2021

109MTop47IOUs161MU.S.Total

npucannualutilitydecarbonizationreport2023

02

Thisyear,theshareofcoal,wind,andsolarincreasedintheoverallelectricitymixoftheIOUsincludedintheindex.*

TOTALELECTRICITY

GENERATIONBYSOURCE

2020

23%

Coal

2021

9%Wind

2%Solar

10%Wind

3%Solar

25%

Coal

*The47IOUsincludedinthe2023Index

comparedtothe30IOUsinthe2022Index.13

03

26%ofIOUsdidnotreporttheir

capitalexpenditures(CAPEX)

dedicatedtolow-carbonsources

(metric6),upfrom13%lastyear.

CAPEXREPORTING

12outof

the47IOUsdidnotreportclean-energyCAPEX.

WhilefewerIOUsreportedlow-carbon

expenditurecomparedtolastyear'sreport,it'simportanttonotethattheindustryiswitnessingothernotabletrends,suchasinvestmentsin:

Smart

Grids

ChargingNetworks

Battery

Storage

EnergyE?ciency

02lookingbackat2021-202210

2021netownedandpurchased electricitygeneration

269

millionMWh

55

million

MWh

CHANGESINTHE

DECARBONIZATION

INDEXCONTINUED

04

The2023DecarbonizationIndexdepicts2021data.

Assuch,thee?ectsoftheCOVID-19pandemicarestillinplayinthisyear’srankings,albeitnotasdrasticas2020.

Pre-pandemic

EFFECTSOF

2019

2021

THEPANDEMIC

1.36

trillionkWh

1.33

trillionkWh

U.S.comercial

electricitysales

1.441.47

trillionkWhtrillionkWh

U.S.residential

electricitysales

51474904

millionmt

millionmtofCO2

U.S.energy-related

CO2emissions

ofCO2

SourceU.S.EnergyInformationAdministration14

npucannualutilitydecarbonizationreport2023

Priortothepandemic,

commercialelectricity

saleshadn'tbeenthislow

since2012.

Residentialsales,onthe

otherhand,havebeen

boostedbyremotework.

05

Mid-sizeIOUsdominatedthetop4positionsinlast

year'sindex.Thisyear,however,ConstellationEnergy(formerlyExelonandthelargestIOUintheU.S.bytotalnetgeneration),claimedthe#1spotthankstoits

improvementsintotalCO2emissions,decarbonizationgoalsandlow-carboninvestment.

TOPRANKED

2023

UTILITY

BYUTILITYSIZE2022

Thelowestrankingsremainablendofsmall,

medium,andlargeIOUsinbothyears,underscoringthatutilitysize,whilesigni?cant,isn'ttheforemosthurdleinthedecarbonizationrace.

02lookingbackat2021-202211

THE2023U.S.UTILITIES

Methodology14

DecarbonizationIndex15

Year-to-YearProgression30

MWh

221.3M

1

2

4

5

6

7

8

150.4M

269.1M

MWh

137.9M

142.8M

224.8M

197M

175.9M

MWh

MWh

MWh

MWh

MWh

MWh

9

aes

104.6M

10

11

12

13

14

15

16

17

18

40.5M

48.4M

51.5M

56.2M

53.7M

64.2M

55M

99.3M

99M

27

30

20

22

23

242526

21

28

29

31

INTRODUCINGTHE47LARGEST

INVESTOR-OWNEDUTILITIES

BY2021NETOWNEDANDPURCHASEDELECTRICITYGENERATION,MWh

IOUswithinternationaloperations

(inadditiontotheU.S.)

3

*

19

36.4M34.4M34.4M34.3M

FortisInc.ConsumersOG&EEnergyWECEnergy

Energy

3233343536

34.1M

Pinnacle

WestCapital

33.1M

Paci?cGasandElectric

31.9M

AlliantEnergy

31.6M

PPLCorporation

30.6M

Emera

22.6M

Avangrid

22.4M

PugetSoundEnergy

19.5M

TransAlta

19.4M

Portland

GeneralElectric

42

41

43

44

37383940

46

47

45

14.5M

14.1M

13.9M

12.8M

12.7M

11.6M

11.3M

10.8M

10.1M

7.8M7.7M

7.5M

5.9M5.1M

3.5M

3.5M

Consolidated

AlleteEnergy

NiSource

Algonquin

AvistaUtilities

PNM

Sempra

ClecoPowerLLC

Hawaiian

BlackHillsNorthWestern

National

CenterPointOtterTail

MDU

MGE

Edison

Power

&Utilities

Resources

Energy

ElectricIndustries

CorporationCorporation

GridPLC

EnergyCorporation

Resources

Energy

npucannualutilitydecarbonizationreport2023

03theu.s.utilitiesdecarbonizationindex13

*AESreportsgross(notnet)generationnumbers.

METHODOLOGY

HOWTHEUTILITY

DECARBONIZATION

INDEXISSCORED

The2023AnnualUtility

DecarbonizationIndexuses

thelatestavailabledata(2021)atthetimeofdatacollection(April2023)totrackthe

decarbonizationprogressofthe47largestU.S.IOUs*usingthefollowingsixmetrics.

The?rstfourmetrics assessthefuelmixandCO2emissionsofeachutilityasoftheirlatestreports(2021).

Metrics2-4exclusivelyfocusonCO2asthisgasconstitutesover97%ofemissionsfrom

thepowersector.15

Conversely,thelasttwo evaluatetheirfuturedirectionbasedonreportedgoalsandcapitalinvestmentssupportingtheirtransition.

*ThesizesofIOUswererankedbasedontotalownedandpurchasedgeneration.Utilitieswithlessthan2million

MWhofownedgenerationwereexcludedfromthereport.

npucannualutilitydecarbonizationreport2023

01

02

03

04

05

06

FUELMIX

Theshareoflow-carbon

sourcesinthecompany’s

ownedgenerationmix.

CO2EMISSIONS

INTENSITY

TheamountofCO2emittedpermegawatt-hourofelectricity

generatedandpurchased.

TOTALCO2

EMISSIONS

TheabsoluteCO2emissionsfromownedandpurchasedelectricitygenerationofeachcompany.

CO2EMISSIONS

PERCUSTOMER

CO2emissionsfromowned

andpurchasedelectricity

generationpercustomer.

DECARBONIZATIONGOALS

Anevaluationofthecompany’sinterimgreenhousegas

reductionandnet-zerotargets.

LOW-CARBON

INVESTMENT

Theshareofplannedcapital

expenditure(CAPEX)for

electricitygenerationdedicatedtolow-carbonsources.

Ownednet

generationfrom

low-carbonsources

Totalownednetgeneration

TotalCO2emissions

fromownedand

purchasedgeneration

Totalownedand

purchasednetgeneration

SumofCO2emissions

fromownedand

purchasedgeneration

TotalCO2emissions

fromownedand

purchasedgeneration

Totalnumberofretail,

commercialand

industrialcustomers

Comparisonofthe

company’sclimategoals

againstabaselineof50%

GHGemissionsreductionby

2030andnet-zeroby2050

PlannedCAPEX

forlow-carbon

generation

TotalplannedCAPEXforgeneration

03theu.s.utilitiesdecarbonizationindex14

XcelEnergy

Entergy

Hawaiian

Electric

Industries

PNM

Resources

Emera

Pinnacle

WestCapital

AlliantEnergy

NorthWestern

Corporation

Portland

GeneralElectric

FortisInc

SempraEnergy

Evergy

AvistaUtilities

ConsolidatedEdison

PugetSoundEnergy

AlgonquinPower

&Utilities

NextEraEnergy

Paci?cGas

andElectric

PublicService

EnterpriseGroup

EdisonInternational

Avangrid

DominionEnergy

CenterPoint

Energy

2

1

3

4

9

8

7

6

5

12

1

1

0

1

3

1

4

1

5

1

16

7

1

8

1

9

1

20

1

2

2

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3

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5.0

THE

2023

24

3.3

1.0

1.0

5.0

5.0

4.0

4.0

Thispagepresents

thetop24companies

byranking.

UTILITY

DECARBONIZATION

INDEX

scaleforeach

reports,andtheiroverall

averageofthesesixmetrics.

Companiesarescoredona

metricbasedontheir2021

decarbonizationscoreisan

Lowest

Highest

3

2

4

5

1

METRICS

D

FuelMix

CO2EmissionsIntensity

TotalCO2Emissions

CO2EmissionsPerCustomer

DecarbonizationGoals

Low-carbonInvestment

Index

includesparentcompaniesonly.

ConstellationEnergy

Companiesthathaven'treporteddatafora

metrichavebeendenotedwithn/aandhave

beenexcludedfromscoringforthemetric.

DecarbonizationScore

npucannualutilitydecarbonizationreport202303theu.s.utilitiesdecarbonizationindex15

Vistra

ClecoPowerLLC

PPLCorporation

Energy

BerkshireHathaway

FirstEnergy

MDUResources

OG&EEnergy

Ameren

SouthernCompany

ConsumersEnergy

Corporation

BlackHills

NiSource

AlleteEnergy

NationalGridPLC

DTEEnergyCompany

AESCorporation

MGEEnergy

TransAlta

ElectricPower

American

DukeEnergy

NRGEnergy

WECEnergy

OtterTailCorporation

5

2

6

2

27

28

9

2

0

3

1

3

2

3

33

9

3

8

3

37

0

4

41

2

4

3

4

4

4

45

6

4

7

4

6

3

5

3

4

3

2

0

0

0

0

8

a

.

1

1

.

.

.

/

2

5

1

2

n

3

0

0

0

0

8

0

3

2

3

1

3

1

2

3

0

0

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Thispagepresentsthe

bottom23companies

byranking.

33.33.3

12.02.0

3.0

33.03.0

4.0

45.03.0

4n/a4.04.

33.53.8

53.04.04.

3.

2.

2.

Lowest

Highest

3

2

4

5

1

D

Decarbonization

Score

npucannualutilitydecarbonizationreport2023

METRICS

FuelMix

CO2EmissionsIntensity

TotalCO2Emissions

CO2EmissionsPerCustomer

DecarbonizationGoals

Low-carbonInvestment

Theconsideredmetricsarenot

all-inclusiveintermsof

companies'net-zeroprogress.

Rather,theyo?ertrackable

insightsandhighlightgeneral

trendsintheU.S.IOUlandscape.

Usingthiscomparative

analysis,wesimply

highlightwhatispossible

whenserioustimeand

resourcesareallotted

todecarbonization.

03theu.s.utilitiesdecarbonizationindex16

SCORECRITERIA

7

1

16

5

1

4

1

3

1

12

1

1

Entergy

DukeEnergy

Evergy

DominionEnergy

8

1

9

1

30%

30%

31%

32%

33%

37%

37%

41%

42%

42%

47%

48%

49%

50%

51%

53%

54%

57%

66%

66%

Hawaiian

Electric

Industries

AlleteEnergy

Pinnacle

WestCapital

BerkshireHathaway

Energy

OtterTailCorporation

XcelEnergy

NorthWestern

Corporation

PNM

Resources

NextEraEnergy

AvistaUtilities

PublicService

EnterpriseGroup

AlgonquinPower

&Utilities

EdisonInternational

Paci?cGas

andElectric

ConsolidatedEdison

Avangrid

1

2

3

4

0

1

9

8

7

6

5

20

DTEEnergy

Company

1

2

2

2

3

2

Southern

Company

American

ElectricPower

Fossilfuels

Carbon-freesources*

77%

78%

86%

90%

ConstellationEnergy

METRIC01

FUELMIX

Thismetricmeasurestheshareof

low-carbonsourcesineachutility’s

ownedelectricitygeneration.

Shareoflow-carbon

sourcesinowned

Score

electricitygeneration

5

Morethan80%

4

60–80%

3

40–60%

2

20–40%

1

Lessthan20%

*Includesrenewablesandnuclear.

Whereownedgenerationwasnotreported

separately,thefuelmixofautility'scombinedownedandpurchasedgenerationwasused.

TOP47U.S.UTILITIES

BYFUELMIX,2021

24

Nuclearpowerwas

thelargestsource

ofcleanelectricity

amongthetop47IOUs.

50%

0%

100%

npucannualutilitydecarbonizationreport202303theu.s.utilitiesdecarbonizationindex17

NiSource

OG&EEnergy

Emera

ConsumersEnergy

Vistra

WECEnergy

NationalGridPLC

BlackHillsCorporation

ClecoPowerLLC

PPLCorporation

FirstEnergy

Energy

Alliant

Ameren

TransAlta

FortisInc.

MGEEnergy

GeneralElectric

Portland

NRGEnergy

CenterPointEnergy

28

5

2

4

3

2%

5%

6%

9%

9%

11%

14%

17%

17%

17%

19%

19%

19%

20%

21%

23%

25%

29%

30%

6

2

9

3

0

4

41

2

4

3

4

4

4

45

6

4

7

4

8

3

37

6

3

5

3

9

2

33

2

3

1

3

0

3

Resources

MDU

Corporation

AES

27

Energy

PugetSound

fuelsformorethan

80%oftheirowned

electricitygeneration,someashighas100%.

2%2%0%0%

Fossilfuels

Carbon-freesources

17IOUsusedfossil

SempraEnergy

0%

50%

100%

npucannualutilitydecarbonizationreport2023

KEYTAKEAWAYS

TotalElectricity

GenerationbySource(all47IOUs)

23.8%

25.1%

Nuclear

Coal

2.4B

MWh

2.6%Solar

2.5%Hydro

0.6%Otherrenewables

2.3%Otherfossilfuels

Comparedtolastyear's

DecarbonizationIndex,13the

shareofnaturalgasandnucleardecreasedintotalelectricity

generation,whilecoal,wind,

andsolarincreased.

Thismetricsolelyconsiders

ownedgeneration,whichcanre?ectautility’sdirectemissions.

However,purchasedpower

agreements(PPAs)canalsoaid

decarbonization.

03theu.s.utilitiesdecarbonizationindex18

33.1%

Naturalgas

Wind

10%

SCORECRITERIA

Const0.03

PG&E0.10

Algonquin

Power0.15

&Utilities

0.17PSEG

NextEra

Energy

Edison

International

0.19

0.20

0.23SempraEnergy

0.25AvistaUtilities

0.29DominionEnergy

Avangrid

Entergy

0.30

0.30

0.31AlleteEnergy

0.31PortlandGeneralElectric

0.32FortisInc.

0.34DukeEnergy

0.35NorthWesternCorporation

PinnacleWestCapital

AESCorporation

XcelEnergy

PugetSoundEnergy

SouthernCompany

BerkshireHathawayEnergy

PNMResources

ConsolidatedEdison

AlliantEnergy

ConsumersEnergy

0.39

0.39

0.40

0.41

0.41

0.42

0.47

0.49

0.49

0.50

CO2emissionsperunitofelectricity.

20

21

22

23

24

25

26

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

0.4

0.6

TOP47U.S.UTILITIES

BYEMISSIONSINTENSITYMETRICTONSOFCO2/MWh,2021

METRIC02

EMISSIONS

INTENSITY

Thismetricmeasureshowmany

metrictonsofCO2eachutilityemits

perMWhofownedandpurchased

electricitygeneration.

MetrictonsofCO2per

MWhofownedand

Energysourcesandpowerplant

eficiency(heatrate)canbothafectemissionsintensity.

purchasedgenerationScore

Lessthan0.22tonnes/MWh5

0.8

1.0

Movingawayfromfossilfuelswhile○

improvingeficiencyiskeytoreducing

0.22–0.43tonnes/MWh4

0.43–0.65tonnes/MWh3

0