Duke Energy was founded in 1900 by Dr. Walker Gill Wylie as the Catawba Power Company. The new company financed the building of a hydroelectric power station along the Catawba River.
The Wateree Power Company was formed in 1917 as a holding company for utilities owned by new investor James Buchanan Duke, and in 1924 the company changed its name to Duke Power.
In 1927 subsidiary companies, including Catawba Power Company, were merged into Duke Power.
Duke Energy owns 58,200 megawatts of base-load and peak generation in the U.S. and serves 7.2 million customers.
The company also 4,300 megawatts of electric generation in Latin America.
Duke Energy operates primarily through four main operational units: Duke Energy Carolinas, Duke Energy Ohio, Duke Energy Indiana and Duke Energy Kentucky.
The company trades publicly on New York Stock Exchange under the symbol DUK, is a member of the S&P 500, is #153 in the Fortune 500, has 27,948 employees, and had $24.7 billion in revenue in 2013.