Duke Energy Corporation - DUK STOCK NEWS

The Duke Energy Foundation and the Indiana Economic Development Association Foundation are jointly committing $150,000 in grant funding to improve access to affordable child care in Indiana communities. Organizations can apply for grants up to $40,000 by January 31, 2025. This follows a previous $100,000 funding round last year. According to an Indiana Chamber of Commerce report, the state loses approximately $4.22 billion annually due to child care shortfalls, including $1.17 billion in tax revenue losses. Currently, only 61% of children needing care can be served through existing capacity.

Duke Energy Foundation has announced $285,000 in grants to support environmental vitality and resiliency across Florida. Ten environmental organizations will receive funding for initiatives focused on improving Florida's habitat and waterways. Recipients include Bok Tower Gardens for wildlife corridor development, The Nature Conservancy for Florida Wildlife Corridor preservation, and various other organizations working on wetland improvements, bird protection, and coastal resiliency projects. Over the past five years, the Foundation has committed more than $3 million to ecological initiatives and natural disaster response in Florida.

Duke Energy showcases its innovative approach to storm restoration through their in-house developed tool called AIR, which proved effective during Hurricanes Helene and Milton. The utility company, serving 8.2 million electric customers across six states and 1.6 million natural gas customers across five states, demonstrates its commitment to technological advancement and community service.

The company is actively pursuing an ambitious clean energy transition, targeting net-zero methane emissions from natural gas operations by 2030 and net-zero carbon emissions from electricity generation by 2050. With interim goals including 50% carbon emission reduction by 2030 and 80% by 2040, Duke Energy continues to invest in grid enhancements and explore zero-emission technologies.

Piedmont Natural Gas, a Duke Energy (NYSE: DUK) subsidiary, is raising awareness about natural gas leak safety as more homes use gas heating during fall and winter. The company injects mercaptan into natural gas to give it a distinctive rotten egg smell, making leaks easily detectable. Signs of a leak include bubbling water, blowing dirt, dead plants, sinkholes, exposed pipe, and hissing sounds. If a leak is suspected, residents should leave immediately and call Piedmont (800.752.7504) or 911 from a safe location. The company also recommends installing natural gas detectors as an additional safety measure.

Duke Energy demonstrated the effectiveness of its self-healing technology during hurricanes Helene and Milton in Florida, preventing over 300,000 customer outages and saving more than 300 million minutes of total outage time. The technology, which serves 77% of Duke Energy Florida customers, can reduce affected customers by up to 75% and restore power in under a minute. The company's grid improvements include hardening over 40,000 poles in three years, maintaining vegetation across 4,000 miles of distribution lines, and expanding infrastructure with 100 miles of new transmission lines and 16 new substations since 2021.

Duke Energy is developing one of the largest utility-based Habitat Conservation Plans (HCP) focusing on bat protection and vegetation management. The initiative aims to balance necessary grid maintenance across 380,000 miles of right of way with environmental conservation. The U.S. Fish and Wildlife Service awarded Duke Energy a $1 million grant for 2024-2025 to support this project. The plan addresses eight federally endangered or threatened bat species affected by white-nose syndrome and habitat loss. The company expects permit issuance by 2026, with the conservation plan lasting up to 30 years.

Duke Energy launches a monthlong campaign to combat hunger in South Carolina, pledging over $500,000 to support more than 50 feeding programs. The initiative begins with Yam Jam, where 170 volunteers packaged 50,000 pounds of sweet potatoes for Thanksgiving food boxes. The Duke Energy Foundation is contributing $100,000 to FoodShare South Carolina organizations, including $30,000 to Mill Village Farms. The campaign addresses critical needs in South Carolina, where nearly 700,000 people face food insecurity, including 1 in 8 residents and 1 in 6 children, particularly as communities recover from Hurricane Helene.

Duke Energy (NYSE: DUK) has released its third-quarter 2024 financial results. The announcement is available on the company's website at duke-energy.com/investors. Key executives, including CEO Lynn Good, will discuss the results and provide business updates during an investor call at 10 a.m. ET today. The call can be accessed via the company's investor section or by dialing provided numbers, with a confirmation code of 367401. A recording of the webcast will be available on Nov. 8.

Duke Energy, headquartered in Charlotte, N.C., is a Fortune 150 company and one of the largest energy holding companies in the U.S., serving 8.4 million electric and 1.7 million natural gas customers. The company is committed to a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050. Duke Energy is investing in electric grid upgrades and cleaner energy generation, including storage, renewables, natural gas, and nuclear.

Duke Energy Florida received approval from the Florida Public Service Commission to lower rates in January 2025. Residential customers using 1,000 kWh will see a $9.77 decrease in their monthly bills compared to December 2024. Commercial and industrial customers will experience bill reductions between 5.1% to 11.1%. While the company plans to continue grid improvements for enhanced security and reliability, customers should note that storm cost recovery for hurricanes Debby, Helene, and Milton, to be filed in December 2024, may impact rates as early as March 2025.