Duke Energy Corp - DUK STOCK NEWS

Duke Energy Florida is preparing for Potential Tropical Cyclone 9, expected to become Tropical Storm Helene, which may cause widespread power outages across Florida. The company is readying to respond quickly to service disruptions and urges customers to plan ahead.

Duke Energy Florida advises customers to:

• Stock an emergency kit with essentials
• Prepare for extended power outages
• Sign up for Outage Alerts
• Understand the power restoration process

Duke Energy Florida, a subsidiary of Duke Energy (NYSE: DUK), supplies electricity to 2 million customers across a 13,000-square-mile service area in Florida. The parent company serves 8.4 million electric customers across six states and is executing an ambitious clean energy transition, aiming for net-zero emissions by 2050.

Duke Energy and the Tampa Bay Rays have donated $100,000 to help Florida customers pay their energy bills through the Share the Light Fund®. The donation, based on $1,000 for every regular season win, will be distributed to 14 local agencies. The Share the Light Fund is a customer assistance program funded by employees, shareholders, and voluntary customer donations, with the Duke Energy Foundation matching up to $500,000 annually.

Since last year, over $1.2 million in energy bill assistance has been distributed to Florida customers through this fund. Duke Energy Florida, a subsidiary of Duke Energy, supplies electricity to 2 million customers across a 13,000-square-mile service area in Florida. The Duke Energy Foundation provides more than $30 million annually in philanthropic support to communities where Duke Energy customers live and work.

Duke Energy (DUK) is expanding its free home energy assessment program in Indiana, introducing new virtual, phone, and web options alongside existing in-home assessments. The Home Energy House Call program aims to help customers save energy and money through improved efficiency. Participants receive a free energy efficiency kit, customized usage report, and expert recommendations. The program now includes renters of single-family homes and owners/renters of condos, townhomes, and manufactured homes.

The new assessment options include:

• Virtual: Cellphone camera walk-through with a professional advisor
• Phone: Assessment and Q&A with an energy advisor
• Online: Self-directed energy assessment

Eligible customers must have an electric water heater, electric heat, or central air conditioning. The initiative is part of Duke Energy Indiana's efforts to serve approximately 900,000 customers in a 23,000-square-mile area.

The Duke Energy Foundation has announced $740,000 in grants to support 18 education-based organizations in Florida, focusing on energy and engineering initiatives. The grants will fund various programs including:

- Career exploration field trips and summer camps for K-12 students
- Resources for teachers to expand educational programming
- Energy and resiliency research opportunities at Florida universities

Notable recipients include the University of Florida, which received a $75,000 grant for three energy-focused education initiatives, and the FUTURES Foundation in Volusia County, which will use a $30,000 grant to increase student engagement in energy design studies. The grants aim to support Florida's growing workforce needs and spark interest in energy, engineering, and climate resiliency fields.

A Duke Energy Foundation grant-funded drone played a important role in locating a missing 68-year-old man with dementia in Spartanburg, South Carolina. The $20,000 grant enabled the county to purchase two high-quality drones in 2023, which have since been used for various emergency response efforts. This rescue highlights the Foundation's broader initiative of enhancing emergency preparedness across multiple states, with over $17.6 million donated in five years.

In South Carolina alone, the Foundation has awarded 99 grants totaling $1.5 million over the past three years to help communities prepare for and recover from weather emergencies. The drones have proven valuable in pinpointing areas hit hardest by severe weather, maximizing safety and efficiency in emergency response operations.

Piedmont Natural Gas, a Duke Energy (NYSE: DUK) subsidiary, has reached an agreement with consumer and industrial groups in North Carolina regarding its rate review request. The agreement, subject to approval by the North Carolina Utilities Commission, will result in a net annual revenue increase of $88 million, about 40% less than initially requested. Key points include:

- Average residential customers will pay about $7.50 more per month
- The agreement allows a 9.80% return on equity
- Implementation is planned for November 2024
- Concurrent rate reductions for natural gas costs and income tax credits will help mitigate overall impact
- The agreement supports investments in safety, reliability, and customer growth

Piedmont Natural Gas serves over 810,000 customers in North Carolina and offers assistance programs for those in need.

Duke Energy Foundation is providing $100,000 in grants to support 13 organizations with existing home ramp programs for low-income senior citizens or those with disabilities in South Carolina. Each program qualified for up to $15,000 in funding based on the population they serve. This initiative aims to improve safety and quality of life for seniors by enabling them to safely enter and exit their homes.

The grants are a continuation of the Foundation's efforts from 2023, where $225,000 was provided to 15 nonprofits. This year's focus is specifically on home ramp programs to allow for more targeted disbursement of funds. Duke Energy employees will also volunteer to build ramps in communities served by the company.

The Duke Energy Foundation is investing $200,000 in grants to support 15 economic development organizations in Florida. These grants aim to attract businesses to the state and strengthen its economy. Notable recipients include:

- The Orlando Economic Partnership, receiving $20,000 to develop a tool comparing Orlando's business location factors with other major regions.

- The St. Petersburg Area Economic Development , awarded $12,500 to promote the city as a business location, focusing on the Historic Gas Plant District.

Duke Energy Florida, a subsidiary of Duke Energy (NYSE: DUK), serves 1.9 million customers across a 13,000-square-mile area in Florida. The company is committed to a 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.

The Duke Energy Foundation has invested over $19.5 million in emergency preparedness and response efforts across six states over the past five years. This investment aims to boost community safety and resilience during severe weather and other emergencies. The Foundation works closely with local leaders and nonprofits to address specific needs.

Key highlights include:

• Duke Energy volunteers packed thousands of no-cost storm kits for seniors
• Employees contributed $3.3 million in money and volunteer time
• Funding has equipped first responders with advanced tools, training, and life-saving equipment
• A grant-funded drone recently helped locate a missing person in South Carolina

As the 2024 storm season continues, Duke Energy and its Foundation remain prepared to support communities. Customers are encouraged to download the enhanced American Red Cross Emergency app for additional preparedness resources.