Duke Energy CEO Jim Rogers expects no rebound in energy demand through 2012
November 4, 2011
– Electricity consumption has been sluggish in the U.S. since the recession as businesses closed and home foreclosures swept across the country.
The economy is again expanding, albeit slowly, though energy demand hasn't returned. Duke Energy Corp., which serves 4 million electric and gas customers in the Carolinas, Kentucky, Indiana and Ohio, said its third quarter electricity sales fell among residential, industrial and commercial customers.
In a conference call, Duke Energy CEO Jim Rogers told analysts what he expects for the future.
QUESTION: As you look out over the next two or three years, when do you think energy demand will come back? How healthy is the economic recovery?
ROGERS: Our current view is that the recovery is very anemic. Historically, the rebound in electricity from a deep recession like we have (had) is an early indicator that the economy is recovering. And in my judgment we don't see the rebound yet ... at least through this year and through 2012.
© 2020 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.