Duke Energy Corp - DUK STOCK NEWS

Duke Energy Carolinas has proposed a 13.8% reduction in annual fuel cost adjustment for South Carolina customers. If approved by the Public Service Commission of South Carolina (PSCSC), the average monthly residential bill would decrease by $19.60, from $142.23 to $122.63 for a 1,000 kWh usage. Commercial customers would see a 13.8% decrease, while industrial customers would benefit from a 16.2% decrease.

The reduction is primarily due to decreased natural gas costs and a reduced true-up component. If approved, the new rates would take effect in November, significantly offsetting a previously announced base rate increase. Duke Energy Carolinas serves about 660,000 households and businesses in South Carolina's Upstate region.

Duke Energy (NYSE: DUK) has successfully restored power to over 510,000 customers in the Carolinas affected by Tropical Storm Debby, representing more than 95% of impacted customers within 24 hours. As of noon, fewer than 10,000 customers remain without power, with full restoration expected by tonight. The company deployed 7,500 workers for the storm response, emphasizing quick and safe restoration efforts.

Jason Hollifield, Duke Energy's storm director in the Carolinas, expressed gratitude for customer patience and community support. The company provides estimated restoration times for remaining customers on its outage map. Duke Energy, a Fortune 150 company, serves 8.4 million electric customers across six states and 1.7 million natural gas customers across five states. The company is committed to 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.

Piedmont Natural Gas, a subsidiary of Duke Energy (NYSE: DUK), is actively monitoring areas affected by Tropical Storm Debby in the Carolinas. The company is taking steps to ensure customer safety by inspecting natural gas meters for flood damage. Adam Long, Piedmont's chief operations officer, emphasized that flooded equipment can pose hazards and safety is their top priority.

Key points:

• Crews will inspect and potentially remove submerged meters
• Affected customers will need licensed contractor inspections before service restoration
• Piedmont offers comprehensive safety tips for flood-affected residents
• Customers are advised not to attempt repairs on their own
• The company provides a 24-hour hotline (800.752.7504) for emergencies

Duke Energy is actively responding to Tropical Storm Debby in the Carolinas, with 7,500 workers deployed for power restoration. As of noon, about 190,000 of the 300,000 affected customers have had their power restored. The company serves over 4.5 million customers in North and South Carolina.

Duke Energy emphasizes safety, urging the public to avoid downed power lines and standing water. The restoration process prioritizes public safety, critical infrastructure, and then aims to restore power to the largest number of customers as quickly as possible. Customers are encouraged to sign up for Outage Alerts and report outages via text, online, or phone.

The company is also reminding customers in flood-prone areas to monitor water levels and turn off power if flooding threatens their homes or businesses. Duke Energy cannot reconnect power to flooded buildings until a licensed electrician inspects and repairs the electrical system.

The Duke Energy Foundation, established in 1984, has been a significant force for positive change in communities across seven states for 40 years. Over this period, it has awarded over $500 million to more than 20,000 nonprofits, focusing on climate resiliency, justice, equity, inclusion, and creating strong economies. The Foundation is funded through shareholder dollars and supports various initiatives, including environmental sustainability, workforce development, and education.

Duke Energy employees contribute thousands of volunteer hours annually, donating nearly $4 million worth of volunteer time. The Foundation is committed to aligning with Duke Energy's clean energy transition and decarbonization efforts. Looking ahead, it has a five-year commitment to invest $150 million in line with the company's net-zero business strategy and efforts toward A Just Transition.

Duke Energy Florida (NYSE: DUK) has rapidly restored power to over 90% of customers within 24 hours after Hurricane Debby's landfall. The company credits its swift response to year-round preparations, grid hardening, and innovative technology. A workforce of 3,000 restored power to more than 330,000 customers since Sunday morning. Duke Energy's self-healing technology saved over 4 million minutes of outage time and automatically restored about 23,000 customer outages. The company's infrastructure improvements have shown significant progress compared to Hurricane Hermine in 2016, which left customers without power for about five days. Duke Energy Florida serves 2 million customers across a 13,000-square-mile area and owns 12,300 megawatts of energy capacity.

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.

Duke Energy (NYSE: DUK) is preparing for Tropical Storm Debby, expected to hit the Carolinas later this week. The company is mobilizing 6,900 skilled workers to respond to potential widespread outages caused by heavy rain and strong winds. Duke Energy's storm director, Jason Hollifield, emphasizes safety as the top priority and urges customers to plan ahead.

The company provides several safety tips, including:

• Creating an emergency supply kit
• Keeping a portable radio for weather updates
• Charging electronic devices in advance
• Planning for potential evacuations
• Signing up for Outage Alerts

Customers are advised to stay away from fallen power lines and be cautious of standing water. Duke Energy also recommends downloading the enhanced American Red Cross Emergency app for additional weather safety information.

Duke Energy Florida has rapidly restored power to 90% of customers within 24 hours after Hurricane Debby's landfall in the Big Bend. The company expects to restore 95% of customers in Citrus, Hernando, Lake, Levy, Marion, and Sumter counties by 11:59 p.m. Tuesday. For the hardest-hit areas, including Alachua, Columbia, Dixie, Gilchrist, Hamilton, Jefferson, Lafayette, Madison, Suwannee, Taylor, and Wakulla counties, the estimated restoration time is 11:59 p.m. Wednesday. Duke Energy is working with neighboring utilities to coordinate restoration efforts. Customers with flood damage or meter box issues may need to consult licensed electricians before power can be reconnected. The company emphasizes safety around downed power lines and proper generator use during outages.