Welcome to our dedicated page for Duke Energy Corporation news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy Corporation stock.
Duke Energy Corporation (NYSE: DUK) is one of the largest energy holding companies in the United States, headquartered in Charlotte, N.C. The company operates across three main business segments: electric utilities and infrastructure, gas utilities and infrastructure, and commercial renewables. With electric utilities serving approximately 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, Duke Energy owns a diverse energy portfolio with a capacity of 54,800 megawatts. The gas utilities division provides natural gas to around 1.7 million customers in the Carolinas, Ohio, Kentucky, and Tennessee.
Duke Energy is at the forefront of the transition to clean energy. The company has committed to achieving net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. This goal is supported by ongoing investments in electric grid upgrades, energy storage, renewable energy sources, natural gas, and advanced nuclear technologies.
The company's commercial renewables segment develops and operates renewable energy projects across the United States, contributing to a growing portfolio that supports a sustainable energy future. Duke Energy’s initiatives include the implementation of innovative programs like PowerPair, which incentivizes residential customers in North Carolina to install home solar and battery systems, enhancing the reliability and affordability of clean energy solutions.
Recent milestones for Duke Energy include the approval of the PowerPairSM incentive-based pilot program, expansion of demand response programs in North Carolina, and strategic divestitures such as selling its 50% stake in Pioneer Transmission LLC. These actions reflect the company's strategy to optimize its asset portfolio and reinvest in its clean energy objectives.
Duke Energy also fosters strategic partnerships to enhance its clean energy transition. Collaborations with major companies like Amazon, Google, Microsoft, and Nucor aim to explore new approaches for carbon-free energy generation and innovative financing structures through programs like the Accelerating Clean Energy (ACE) tariffs. These partnerships are designed to support large businesses in achieving their sustainability goals while contributing to overall grid decarbonization.
Beyond its business operations, Duke Energy is a key economic contributor to the communities it serves. The company's commitment includes substantial tax contributions, local investments, and support for charitable causes through the Duke Energy Foundation. Employees are actively engaged in community service, further reinforcing the company’s integral role in local development and social responsibility.
With a strong dedication to innovation, sustainability, and community engagement, Duke Energy continues to lead the energy sector towards a cleaner, more reliable, and sustainable future.
Duke Energy has restored power to over 180,000 customers affected by severe storms in the Carolinas. Majority of customers expected to have power back by tonight, with some areas to be restored by Friday. Safety tips provided for dealing with power outages. Customers can receive outage alerts and report outages through various channels.
Duke Energy Florida has received approval to lower rates for the second time this year, with new rates effective in June 2024, resulting in a nearly $6 decrease in a typical residential customer bill. This adds to the over $11 monthly reduction that took effect in January 2024, benefiting both residential and commercial customers. Duke Energy is committed to providing reliable, clean power while passing on savings to its customers.
Duke Energy has reported its first-quarter 2024 financial results, showcasing its commitment to a clean energy transition with ambitious goals for net-zero methane and carbon emissions. The company's leadership team will discuss the results and updates during an investor presentation, emphasizing continued investment in grid upgrades, renewables, and cleaner generation.
Duke Energy celebrates National Lineworker Appreciation Day, highlighting the important role lineworkers play in ensuring safe and reliable power for communities. The company has invested nearly $4 million in strengthening its lineworker talent pipeline. Lineworkers face challenging conditions, undergo rigorous training, and prioritize safety above all else. They also contribute to power grid improvement projects, helping modernize and strengthen Duke Energy's system. The company continues to hire diverse, skilled candidates to address growing energy needs and make grid upgrades for the future.
Duke Energy Foundation awarded $500,000 in grants to North Carolina nonprofits for environmental resiliency. 18 organizations received grants to boost environmental justice and climate resiliency. Duke Energy employees and retirees volunteered in April for environmental programs. Duke Energy is committed to clean energy transition, investing in resilience and philanthropy.
Duke Energy Florida has been recognized by the Arbor Day Foundation as a 'Tree Line USA' utility for the 18th consecutive year. The company's tree care practices focus on quality pruning and training, promoting safe electric service and environmental benefits. Duke Energy has given away over 13,000 trees since 2017 to help customers conserve energy. The program includes free tree giveaways and strategic tree planting initiatives. The company emphasizes the importance of proper tree maintenance to prevent power outages and ensures compliance with industry standards and federal regulations.
Duke Energy's Midwest Lineman's Rodeo recently qualified 15 local lineworkers to compete in the International Lineman's Rodeo, showcasing their job skills essential for power delivery and restoration. The event highlighted the dedication and talent of lineworkers through specialized contests testing their daily job-related skills. The competition featured categories like equipment repair, pole climbs, and hurt man rescues, emphasizing efficiency, agility, technique, and safety procedures. Winners will represent Duke Energy at the international event in Bonner Springs, Kan., in October.
Duke Energy recently completed upgrades at the Bad Creek pumped storage facility, adding 320 megawatts of capacity to support the growing electricity demand in the Carolinas. This brings the total capacity of the station to 1,680 megawatts, benefiting 1.3 million homes. The upgrades enhance energy reliability, operational flexibility, and storage capabilities, positioning Duke Energy for the future energy transition.
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