Duke Energy Corp Stock Price, News & Analysis

Duke Energy has launched a $200,000 grant campaign to support South Carolina organizations serving the aging population, particularly those facing income challenges. Qualifying nonprofits can apply for one-time grants up to $10,000 for general operating expenses through January 28.

The initiative follows previous support programs, including 2023 grants of up to $20,000 to 15 nonprofits for senior home repairs, and $100,000 in 2024 to 13 organizations for home ramp programs. The funds can be used for meal delivery assistance, transportation, home modifications, and programs supporting senior safety and self-sufficiency, but not for weatherization or utility assistance.

This initiative is part of the Duke Energy Foundation's broader philanthropic efforts, which provide over $30 million annually to communities where Duke Energy customers live and work. The company serves 8.4 million electric customers and 1.7 million natural gas customers across multiple states.

Piedmont Natural Gas, a Duke Energy (NYSE: DUK) subsidiary, is encouraging customers to manage their energy bills in 2025 through various programs and tips as the Southeast faces frigid temperatures. The Energy Information Administration forecasts increased household energy usage this winter due to colder temperatures compared to the previous year.

The company offers several assistance programs including: the Equal Payment Plan (EPP) which levels out monthly bills, Share the Warmth program providing utility bill assistance through local agencies, and the Low Income Energy Assistance Program (LIEAP). Additionally, Piedmont provides energy-saving tips such as optimal thermostat settings, water heater management, and home insulation recommendations.

Piedmont Natural Gas serves over 1.2 million customers across North Carolina, South Carolina, and Tennessee, and recently earned the No. 1 spot in customer satisfaction with residential natural gas service in the South among large utilities according to J.D. Power's 2024 study.

Duke Energy Florida and the Duke Energy Foundation have strengthened their support for the Pinellas Education Foundation with a new $100,000 grant, bringing their total donations to over $4 million. The grant will support Pinellas County Schools' Future Cities program, helping students in grades 6-8 explore sustainable solutions for energy and environmental issues.

The company also renewed its sponsorship of the Stavros Institute Enterprise Village and Finance Park, which served over 14,000 students last year. Duke Energy Florida has upgraded its storefronts to showcase energy efficiency jobs and innovative tools, including thermal cameras and virtual reality experiences. The company has been a sponsor since 1989, when it was known as Florida Power

Duke Energy Florida serves 2 million customers across a 13,000-square-mile service area with 12,300 megawatts of energy capacity. The Duke Energy Foundation provides over $30 million annually in philanthropic support.

Duke Energy (DUK) has significantly increased incentives and eligibility for residential and business energy efficiency programs in North Carolina, effective January 1, 2025. The North Carolina Utilities Commission-approved updates include doubled and tripled incentives for various programs.

Key residential program enhancements include: Home Energy House Call offering free energy assessments and products, Smart $aver® home improvement rebates increasing from $350 to $500 for HVAC and other upgrades, pool pump incentives tripling to $900, and Power Manager®/EnergyWise Home® offering up to $150 upfront plus annual credits.

Business programs saw increases of 20-25% on average, with PowerShare® capacity credits rising from $3.50 to $5 per kW. The company also expanded assistance programs for income-qualified customers, including increased weatherization incentives up to $8,000 for HVAC replacement and $1,500 for refrigerator replacement.

Duke Energy Carolinas announced a 6.2% decrease in electric rates effective January 1, driven primarily by falling fuel prices. A typical residential customer using 1,000 kWh monthly will see bills drop by $8.96, from $144.31 to $135.35, which is 22% below the national average. Commercial customers will benefit from an 11.5% decrease, while industrial customers will see a decrease of less than 1%.

The rate reduction includes an 8.8% decrease due to falling fuel prices, a 0.6% decrease from nuclear production tax credits (IRA), and minor adjustments to existing riders. These reductions more than offset a previously approved 2.9% base rate increase. The company serves about 2.2 million households and businesses in central and western North Carolina.

Duke Energy Florida has filed a plan with the Florida Public Service Commission to recover $1.1 billion in costs from the 2024 hurricane season response. The company mobilized over 27,000 workers to restore power to approximately 2 million customers affected by hurricanes Debby (Category 1), Helene (Category 4), and Milton (Category 3).

Starting March 2025, residential customers will see an increase of approximately $21 per 1,000 kilowatt-hours on monthly bills, though the actual storm charge is $31, offset by a seasonal $10 decrease. The storm costs will remain on bills through February 2026. The company's self-healing technology helped automatically restore over 379,740 outages and saved 325.5 million minutes of outage time across all three storms.

Duke Energy (DUK) has disclosed a significant data breach affecting approximately 370,000 individuals. The security incident, discovered in May 2024, involved unauthorized third-party access to DEC's IT Network, compromising sensitive customer information.

The breached data potentially includes utility account numbers, names, email addresses, mailing addresses, dates of birth, phone numbers, and partial Social Security numbers for residential customers, as well as partial federal tax IDs for businesses. Law firm Levi & Korsinsky is investigating the breach and exploring potential compensation for affected individuals who received breach notification letters.

The firm, operating on a contingency basis, is examining whether affected customers are entitled to compensation due to the company's potential failure to secure personal data, which could lead to identity theft and financial fraud risks.

Duke Energy (DEC) has disclosed a significant data breach affecting approximately 370,000 individuals. The security incident, discovered in May 2024, involved unauthorized third-party access to DEC's IT Network, compromising sensitive customer information.

The compromised data potentially includes utility account numbers, names, email addresses, mailing addresses, dates of birth, phone numbers, last four digits of Social Security numbers for residential customers, and federal tax IDs for businesses. Law firm Levi & Korsinsky, LLP is investigating the breach and exploring potential compensation for affected individuals who received breach notification letters.

The firm, operating on a contingency basis, has assembled a team of over 70 attorneys and professionals to advocate for affected customers' rights and pursue possible compensation claims.

Duke Energy Indiana has allocated nearly $300,000 in financial assistance through its Share the Light Fund to help customers pay their energy bills this winter season. The fund, supported by Duke Energy shareholders, customers, and employees, allows qualifying customers to receive up to a $300 annual account credit.

Over the past year, the company has provided more than $650,000 in energy bill assistance to over 2,000 Indiana households. The program, managed in partnership with the Indiana Community Action Association, determines eligibility based on income, family size, and resource availability.

Additionally, Duke Energy offers various tools for customers to manage energy usage, including Usage Alerts, free Home Energy House Calls, and installment payment plans.