The generation and delivery of electric power is going through a transformation, according to Lynn Good, CEO and President of Duke Energy (DUK) - Get Report .

Good is increasing the use of natural gas and renewables at Duke as she seeks to modernize the electric grid. The modernization process has been helped by low natural gas prices and low interest rates, enabling the company to step up its investments while continuing to deliver returns to shareholders.

"Renewables will be an increasing part of the portfolio," said Good. "We've invested to date about $4 billion. We see another $3 billion in investment over the next five years."

Good has also been replacing coal plants with facilities that are run by natural gas.

"Based on the regulations that exist today, building new coal is almost impossible," said Good. "We've retired about half of our coal units in the Carolinas, 40 units across our system, and are introducing natural gas." Good said that, as a result, Duke's carbon emissions are down 20% and will continue to decline.

Duke Energy and several other companies are currently building what's known as the Atlantic Coast Pipeline, which will transport natural gas from West Virginia into Virginia and North Carolina. The other utilities involved are Dominion Resources (D) - Get Report , Piedmont Natural Gas (PNY) , and AGL Resources (GAS) .

Good spoke with TheStreet's Rhonda Schaffler at Fortune's "The Most Powerful Women Summit" in Washington, D.C.

TheStreet Quant Ratings rates Duke Energy a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its good cash flow from operations and expanding profit margins. We feel its strengths outweigh the fact that the company has had lackluster performance in the stock itself.