Duke Energy ramps up support ahead of Tropical Storm Debby; donates $50,000 to the American Red Cross

Rhea-AI Summary

Duke Energy (NYSE: DUK) is preparing for Tropical Storm Debby's arrival in the Carolinas by mobilizing 7,500 workers, including 300 from the Midwest, to support storm restoration efforts. The company emphasizes safety and encourages customers to prepare for potential power outages. Duke Energy Foundation has donated $50,000 to the American Red Cross for disaster response and relief efforts, adding to their $2.8 million contribution over the past five years.

The company provides safety guidelines for customers, including creating emergency supply kits, monitoring weather forecasts, and following electrical safety protocols during floods. Duke Energy urges customers to sign up for Outage Alerts and familiarize themselves with outage reporting methods. The company is also executing an ambitious clean energy transition, aiming for net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

Positive

• Mobilization of 7,500 workers for storm restoration efforts
• $50,000 donation to American Red Cross for disaster relief
• Proactive customer communication and safety guidelines
• Implementation of clean energy transition plan

Negative

• Potential power outages and service disruptions due to Tropical Storm Debby

Insights

Disaster Response Specialist

Duke Energy's proactive approach to Tropical Storm Debby demonstrates strong disaster preparedness. The deployment of 7,500 workers, including 300 from the Midwest, shows significant resource allocation. This level of preparation typically results in faster power restoration, potentially mitigating financial losses and customer dissatisfaction.

The $50,000 donation to the American Red Cross, while commendable, is relatively modest given Duke Energy's size. However, it's part of a larger $2.8 million contribution over five years, indicating consistent community support. This ongoing commitment likely enhances Duke Energy's reputation and could positively impact customer loyalty and regulatory relationships.

The company's emphasis on customer preparedness and safety guidelines is prudent, potentially reducing liability risks and demonstrating corporate responsibility. Overall, while the storm may cause short-term disruptions, Duke Energy's robust response strategy should help maintain long-term stakeholder confidence.

Utility Industry Analyst

Duke Energy's storm response showcases its operational resilience, a important factor for utility investors. The company's ability to quickly mobilize a large workforce, including out-of-state resources, indicates strong emergency management capabilities. This efficiency can help minimize outage durations and associated revenue losses.

The company's investment in grid upgrades and clean energy transition, mentioned briefly, is particularly noteworthy. With 54,800 megawatts of energy capacity and ambitious net-zero targets, Duke Energy is positioning itself well for future regulatory and market demands. This forward-thinking approach could provide long-term value for investors, despite short-term costs.

However, investors should note that frequent severe weather events could strain resources and impact profitability. The company's ability to balance storm preparedness, grid modernization and clean energy investments will be important for maintaining financial health and meeting shareholder expectations in the evolving utility landscape.

CHARLOTTE, N.C., Aug. 7, 2024 /PRNewswire/ -- As Tropical Storm Debby makes its way into the Carolinas tomorrow, Duke Energy has 7,500 lineworkers, vegetation management and other workers, including 300 traveling from the Midwest to help support storm restoration efforts.  

"With safety as our guiding principle, we are strategically staging crews across the Carolinas to be ready to respond as soon as conditions are safe to do so," said Jason Hollifield, Duke Energy storm director for the Carolinas. "We continue to encourage our customers to prepare for the impending storm."

Also, in advance of the storm, the Duke Energy Foundation has awarded $50,000 to the American Red Cross to support disaster response and relief efforts.

"The American Red Cross is proud of our partnership with Duke Energy and value the support of the Duke Energy Foundation for disaster relief, especially now as we assist scores of communities affected by the devastating flooding of Tropical Storm Debby," said Allison Q. Taylor, chief executive officer, North Carolina Region, American Red Cross.

Over the past five years, Duke Energy and its Foundation have donated more than $2.8 million to the American Red Cross in support of disaster relief.

Additionally, customers are encouraged to download the enhanced American Red Cross Emergency app for weather safety. The latest version of the app is free, available in both English and Spanish and offers a variety of features including emergency checklists, interactive maps of open shelters and the ability to monitor multiple locations for weather alerts. 

Safety information

The safety of our customers and communities is important. Duke Energy encourages customers to have a plan in place to respond to an extended power outage after a hurricane or other severe weather. Below are some tips.

Before the storm

• Create (or update) an emergency supply kit to save valuable time later. The kit should include everything an individual or family would need, especially medicines, water, nonperishable foods and other supplies that might be hard to find after a storm hits.
• Keep a portable radio, TV or a NOAA weather radio on hand to monitor weather forecasts and important information from state and local officials.
• Charge mobile phones, computers and other electronic devices in advance of storms to stay connected to important safety and response information. Consider purchasing portable chargers and make sure they are fully charged as well.
• Maintain a plan to move family members – especially those with special needs – to a safe, alternative location in case an extended power outage occurs, or evacuation is required.

Electrical safety guidelines for floods

• If rising water threatens your home or business – or if you evacuate due to flooding – turn off your power at the circuit breaker panel or fuse box.
• Electric current passes easily through water, so stay away from downed electrical lines.
• Don't drive over – and don't stand near – downed electrical lines.
• Never replace a fuse or touch a circuit breaker with wet hands, or while standing on a wet or damp surface.
• If your home or business is flooded, Duke Energy cannot reconnect power until the electrical system has been inspected by a licensed electrician. If there is damage, an electrician will need to make necessary repairs and obtain verification from your local building inspection authority before power can be restored.

After the storm

• Stay away from power lines that have fallen or are sagging. Consider all lines energized, as well as trees, limbs or anything in contact with lines.
• If a power line falls across a car that you are in, stay in the car. If you MUST get out of the car due to a fire or other immediate life-threatening situation, do your best to jump clear of the car and land on both feet. Be sure that no part of your body is touching the car when your feet touch the ground.
• Downed lines will be hard to see in the rain and can potentially be hidden in standing water. If you encounter large pools of standing water, stop, back up and choose another path.

For more tips on how to prepare for storm season, please visit duke-energy.com/StormTips.

Reporting an outage

Customers are encouraged to sign up for alerts and know how to report an outage. Receive the most up-to-date information about restoration efforts by enrolling in Outage Alerts. If you lose power, text OUT to 57801, report online or through the mobile app, or call 800.POWERON (800.769.3766).

Duke Energy

Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.

Duke Energy is executing an ambitious clean energy transition, keeping reliability, affordability and accessibility at the forefront as the company works toward net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas and nuclear.

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on Twitter, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.

Contact: Shawna Berger
Media line: 800.559.3853
Twitter: @DE_ShawnaB

View original content to download multimedia:https://www.prnewswire.com/news-releases/duke-energy-ramps-up-support-ahead-of-tropical-storm-debby-donates-50-000-to-the-american-red-cross-302217051.html

SOURCE Duke Energy

FAQ

How is Duke Energy (DUK) preparing for Tropical Storm Debby?

Duke Energy is mobilizing 7,500 workers, including 300 from the Midwest, to support storm restoration efforts in the Carolinas. They are strategically staging crews across the region to respond quickly once conditions are safe.

What safety measures has Duke Energy (DUK) recommended for customers during Tropical Storm Debby?

Duke Energy recommends creating emergency supply kits, monitoring weather forecasts, charging electronic devices, and following electrical safety guidelines during floods. They also encourage customers to sign up for Outage Alerts and know how to report outages.

How much has Duke Energy (DUK) donated to the American Red Cross for disaster relief?

Duke Energy Foundation has donated $50,000 to the American Red Cross for disaster response and relief efforts related to Tropical Storm Debby. Over the past five years, Duke Energy and its Foundation have donated more than $2.8 million to the American Red Cross for disaster relief.

What are Duke Energy's (DUK) clean energy goals?

Duke Energy aims to achieve net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company is investing in major electric grid upgrades and cleaner generation, including expanded energy storage, renewables, natural gas, and nuclear.