Duke Energy Corporation - DUK STOCK NEWS

The Department of Defense (DOD) has joined Duke Energy's (NYSE: DUK) Green Source Advantage (GSA) program, committing to provide renewable energy for its five largest military installations in North and South Carolina. The agreement will deliver an estimated 135 megawatts and approximately 4.8 million megawatt-hours of renewable energy over 15 years through two new solar facilities in South Carolina, managed by energyRe. These projects are expected to be operational by Q4 2026. This initiative supports the DOD's decarbonization targets under Executive Order 14057, aiming for 100% carbon-free electricity by 2030. Duke Energy's GSA program helps large nonresidential customers offset power purchases with renewable energy sources. Other GSA participants include the City of Charlotte, Bank of America, and Duke University. Duke Energy, a Fortune 150 company, serves 8.4 million electric customers and 1.7 million gas customers across several states, focusing on a clean energy transition to achieve net-zero carbon emissions by 2050.

Duke Energy's grid technician, Thomas Doan, plays a critical role in maintaining and expanding the company's smart-thinking grid, which prevented over 1.5 million customer outages in 2023 across six states.

Doan's contributions include maintaining remote connectivity to substations and line equipment, facilitating faster power restoration. His personal journey, as a Vietnamese refugee, deeply influences his career and perspectives.

Doan's story highlights the importance of diversity and inclusion, celebrated during Asian American and Pacific Islander (AAPI) Heritage Month by Duke Energy. An active member of the company's Asian Inclusion Network (AIN), Doan emphasizes the educational and recruitment benefits of such Employee Resource Groups (ERGs).

Vice President Sharene Pierce underscores that an inclusive workplace fosters innovation and better service strategies.

Duke Energy has allocated an additional $100,000 through its Share the Light Fund to assist low-income Indiana residents with home energy costs during the summer. This initiative is part of a broader effort that has provided over $3 million in aid to more than 10,000 households over the past five years. Customers struggling to pay their energy bills can apply for up to $300 in financial assistance. The company also offers various programs to help manage energy costs, including usage alerts, free home energy assessments, budget billing, and interest-free payment plans. Duke Energy Indiana, serving approximately 900,000 customers, is the largest electric supplier in Indiana.

Duke Energy Florida is launching several initiatives to help customers manage their energy consumption and save money during the hot summer months. These include a variety of programs and tools, such as the Usage Alerts, which provide mid-cycle billing updates, and the EnergyWise Home program, offering up to $141 in annual bill credits. Additionally, Duke Energy is promoting their Time-of-Use rate plan, Home Energy Check program, and Weatherization Program for income-qualified customers. The company emphasizes the importance of using energy-efficient practices and offers several tips, such as regularly servicing HVAC systems and using smart thermostats. Duke Energy Florida serves over 2 million customers and is part of Duke Energy, which aims for net-zero carbon emissions by 2050.

On June 7, 2024, Duke Energy (NYSE: DUK), along with Amazon, Google, Microsoft, and Nucor, announced agreements to support carbon-free energy generation in North and South Carolina. These agreements were revealed at the White House Summit on Domestic Nuclear Deployment. The companies aim to develop new rate structures, known as ACE tariffs, to lower long-term costs for clean energy technologies through early commitments. The ACE framework includes the Clean Transition Tariff (CTT), which matches clean-energy generation with customer loads to accelerate grid decarbonization. These tariffs are voluntary, targeting large commercial and industrial customers, and require regulatory approval. Duke Energy emphasizes innovation and responsible energy solutions, supported by major corporations committed to sustainability.

Duke Energy's hydroelectric power efforts are a key part of its strategy to achieve net-zero carbon emissions by 2050. The company, which serves 8.2 million electric and 1.6 million natural gas customers across several states, operates 27 hydroelectric stations. Duke Energy's ambitious clean energy transition plan includes reducing carbon emissions by 50% by 2030 and 80% by 2040, with a final goal of net-zero by 2050. Additionally, Duke Energy is exploring advanced technologies like hydrogen and advanced nuclear power, while also investing in electric grid enhancements and energy storage solutions.

Duke Energy Indiana has committed an additional $100,000 to its Share the Light Fund to assist low-income customers with their energy bills during the summer. This initiative, which allows households to receive up to $300 in financial aid, aims to alleviate the burden of high energy costs during hot weather. Over the past five years, the fund has distributed more than $3 million, aiding over 10,000 Indiana households. Customers can apply for assistance through local community action agencies. Duke Energy Indiana also offers various tools and programs to help manage energy usage and expenses, including usage alerts, free home energy assessments, budget billing, and interest-free payment plans. The company serves approximately 900,000 customers in Indiana and is part of Duke Energy, one of the largest energy holding companies in the U.S.

Duke Energy has introduced multiple initiatives to help customers manage and reduce energy usage during the upcoming summer, which is expected to be hotter than usual according to NOAA.

The company is providing various tools, tips, and programs such as Usage Alerts, Power Manager, Flex Savings Option, and the High Energy Usage pilot to assist customers in minimizing energy costs. Additionally, Duke Energy offers payment assistance and low-cost energy-saving tips, like inspecting HVAC systems, checking for air leaks, and using smart thermostats.

These initiatives aim to support customers in dealing with higher energy demand periods, while also promoting the company’s clean energy goals and enhancing customer satisfaction.

Duke Energy Florida is enhancing its grid's resilience ahead of the 2024 hurricane season. The company has implemented smart, self-healing technologies serving over 70% of its customers. NOAA forecasts an active hurricane season, with 17-25 named storms and an expected 30% increase in activity. Duke Energy's Storm Protection Plan involves upgrading poles and wires, undergrounding lines, and tree trimming to boost reliability. The company has optimized eight substations and aims to complete 38 more. In 2023, reliability performance was the best in a decade, reducing average outage length by 27% between 2018-2023. Customers are encouraged to prepare emergency kits and plans for outages.