It was five stories and . The Electric Center at 526 South Church Street opened in 1975 with an addition in 1988. State Farm Insurance sold the Power Building in 2004 for $8 million to The Dilweg Cos., who anticipated significant development. Novare Group bought at 408 South Church Street for $17 million from The Dilweg Cos. in a deal announced March 27, 2006. The Power Building was demolished February 24, 2007. Duke Energy Center at 550 South Tryon Street was announced as the company's headquarters in 2009. The company announced May 17, 2021 that the headquarters will move in 2023 to Duke Energy Plaza, across the street from the current headquarters. Childress Klein is developing the new building, which will allow Duke to sell its Church Street and College Street buildings, and end its lease at 400 South Tryon. Previously named Charlotte Metro Tower, the 40-story building will be purchased when completed for up to $675 million by Childress Klein and CGA Capital, in the largest real estate deal in the city's history, announced in December 2019. Finances For the fiscal year 2017, Duke Energy reported earnings of US$3.059 billion, with an annual revenue of US$23.565 billion, an increase of 3.6% over the previous fiscal cycle. Duke Energy's shares traded at over $79 per share, and its market capitalization was valued at over US$58.8 billion in November 2018. Environmental record In 1999, the United States Environmental Protection Agency commenced an enforcement action against Duke Energy for making modifications to very old and deteriorating coal-burning power plants without getting permits under the Clean Air Act. Duke asserted that a "modification" under the Clean Air Act did not require a permit. Environmental groups asserted that Duke was using loopholes in the law to increase emissions. Initially, Duke prevailed at the trial court level, but in 2006 the case was argued before the Supreme Court (Environmental Defense v. Duke Energy Corp. (05-848)). The Court unanimously ruled on April 2, 2007 that the modifications allowed the power plants to operate for more hours, increasing emissions, so Clean Air Act permits were needed. In 2002, researchers at the University of Massachusetts Amherst identified Duke Energy as the 46th-largest corporate producer of air pollution in the United States, with roughly 36 million pounds of toxic chemicals released annually into the air. Major pollutants included sulfuric and hydrochloric acid, chromium compounds, and hydrogen fluoride. The Political