Duke Energy Corp - DUK STOCK NEWS

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.

The Duke Energy Foundation has announced a grant program worth $700,000 to enhance disaster preparedness for North Carolina communities. Eligible nonprofits can apply for grants up to $25,000 until July 12, with the registration deadline on June 28. The grants aim to foster collaboration among agencies, provide training and equipment, and improve emergency communications and outcomes for under-resourced communities. Since 2019, the Foundation has awarded $2.4 million for disaster preparedness. Duke Energy, a Fortune 150 company, is committed to a clean energy transition and serves 8.4 million electric and 1.7 million natural gas customers across six states.

Duke Energy Florida, in partnership with the Florida Council on Aging, has announced a $70,000 donation to Jefferson Senior Citizens Center in Monticello, Florida, to aid in storm recovery efforts. Severe storms in April damaged the facility, displacing nearly 50 seniors who rely on its services. The donation aims to assist in renovating the building, ensuring its safe reopening. The center provides critical services such as hot meals, utility bill assistance, and social activities. Duke Energy Florida's president emphasized the company's commitment to supporting vulnerable communities. This move underscores Duke Energy's broader commitment to community support and clean energy initiatives.

Duke Energy announced a $500,000 grant program through its Duke Energy Foundation to support emergency preparedness in South Carolina. These grants will be distributed among 33 nonprofits and government agencies, funding vital resources like training, life-saving equipment, and new technology. The initiative aims to enhance community resilience and assist residents in preparing for and recovering from severe weather events. Specific uses of the grants include increasing sheltering capabilities and acquiring pet sheltering kits, advanced response technology, and communication tools for emergency situations.

Mike Callahan, Duke Energy's South Carolina president, emphasized the importance of equipping first responders to maintain a resilient South Carolina. Recipients expressed gratitude, highlighting the impact these grants will have on their disaster response capabilities. The Duke Energy Foundation annually provides over $30 million in philanthropic support, funded by Duke Energy shareholders.

Duke Energy (NYSE: DUK), Amazon, Google, Microsoft, and Nucor announced agreements to explore innovative approaches to support carbon-free energy generation. Revealed at the White House Summit on Domestic Nuclear Deployment, the MOUs propose developing new rate structures, called ACE tariffs, to lower the long-term costs of clean energy investments. These tariffs aim to facilitate on-site energy generation, load flexibility programs, and investments in clean energy assets. The Clean Transition Tariff (CTT) would further enable individualized clean energy portfolios for large commercial and industrial customers. These initiatives are voluntary and require regulatory approvals in North and South Carolina.

Duke Energy Foundation announced a $100,000 grant to enhance the American Red Cross Emergency app. The upgraded app aims to assist Spanish speakers, individuals with disabilities, and adults aged 65+ by improving accessibility, language support, and user experience.

To promote downloads, the Foundation will donate $1 to the Red Cross for every app download until June 30, up to $20,000. This move coincides with the 2024 Atlantic hurricane season starting June 1. The app provides features like weather alerts, shelter maps, and preparedness tips in English and Spanish.

Duke Energy has a history of supporting disaster relief, contributing nearly $2.7 million over eight years to the Red Cross. The Foundation aims to build resilient communities and will continue disaster preparedness and recovery efforts throughout 2024.