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Duke Energy Corporation - DUK STOCK NEWS

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.

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Duke Energy is offering Florida customers the opportunity to earn up to $1,700 in home improvement rebates through their Home Energy Check program, encouraging energy efficiency and cost savings. The program provides expert recommendations for upgrades and offers incentives for improvements such as attic insulation, duct testing and repair, high-efficiency HVAC replacement, and energy-efficient windows for single-family homes, as well as HVAC replacement for manufactured homes and multifamily properties.
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Duke Energy Florida has announced a $50,000 donation to St. Petersburg College's Promise Scholarship program to provide upcoming high school graduates with the opportunity to attend SPC at no cost to them. The funding reinforces the company's support for the college and its commitment to creating a diverse, skilled workforce representative of the communities it serves. SPC's Promise Scholarship was launched last year as a pilot program for graduates of five area high schools with the highest poverty rates in Pinellas County. In 2023, more than 460 students received the scholarship, and the program has now been expanded to include graduates from eight high schools. The scholarship monies are disbursed on a first-come, first-served basis, and more details are available at spc.edu/promisescholarship.
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Duke Energy supports South Carolina's rapid population growth by proposing new energy generation resources to meet increasing electricity demand. The company aims to maintain reliability and affordability through a diverse 'all of the above' approach.
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Duke Energy Florida is proposing investments to increase power plant efficiency, reduce outages, and expand solar generation as part of increased base rates taking effect in January 2025. The company is requesting an average annual base rate increase of approximately 4% during 2025 through 2027. Despite the requested base rate increase, the company expects overall customer bills to decrease in 2025. The rate request aims to deliver a smarter energy future, decrease outages, and shorten restoration times for customers and communities, while reducing emissions at a reasonable cost. The proposed investments include continued grid modernization, enhancements to power plants, and the construction of 14 new solar plants between 2025 and 2027, adding another 1,050 megawatts of clean energy to Florida's grid. Duke Energy Florida is also exploring innovative clean energy technologies, such as long-duration energy storage and the DeBary Hydrogen project.
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Duke Energy Carolinas will implement new rates for North Carolina customers on Jan. 15 as approved by the North Carolina Utilities Commission. The rates will remain below the national average, even after $7.7 billion in upgrades to make the electric grid more resilient. The approval includes performance incentives to hold the utility accountable for reliability, encourage renewables, and reduce peak system loads.
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Duke Energy has launched an EV charger rental program in North Carolina, approved by the North Carolina Utilities Commission, allowing customers to lease an EV charger at a low monthly cost. The program offers a wide range of charger options for residential and non-residential customers, supporting the state's clean energy goals. Duke Energy has a variety of customer programs to prepare for the electric vehicle transition, including Charger Prep Credit program and a 12-month EV charging subscription pilot program. The company is executing an aggressive clean energy transition to achieve net-zero carbon emissions from electricity generation by 2050.
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Duke Energy is offering Florida customers up to $1,700 in home improvement rebates through their Home Energy Improvement program. Customers can earn rebates for upgrades to their home's energy efficiency, including HVAC systems, windows, ducts, and attic insulation. The program also provides expert recommendations for improvements based on the home's energy usage. Single-family homes may qualify for up to $800 for attic insulation, 50% of the cost of duct tests, up to $200 for duct repairs, and up to $300 for high-efficiency HVAC replacements. Energy-efficient windows can also earn up to $400 in rebates. Manufactured homes and multifamily properties can receive $150 in rebates for HVAC replacements. The program aims to help customers save money and energy while adding value to their homes.
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Duke Energy Florida collaborates with the Arbor Day Foundation's Energy-Saving Trees program to distribute 900 free trees to Florida customers. The company is donating $50,000 to the Arbor Day Foundation to purchase and distribute the trees. The initiative aims to improve power reliability, conserve energy, and maximize environmental benefits. The trees are expected to be delivered in time for National Arbor Day, April 26, 2024. Duke Energy Florida has been recognized for its tree management practices for 18 consecutive years.
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Duke Energy Florida announced a $50,000 donation to St. Petersburg College's Promise Scholarship program to provide 2024 graduates of eight Pinellas County high schools with the opportunity to attend SPC at no cost to them. The funding reinforces the company's support for SPC and its commitment to creating a diverse, skilled workforce. SPC's Promise Scholarship is disbursed on a first-come, first-served basis, and the college has increased the number of participating high schools to eight.
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Duke Energy has donated $425,000 to over a dozen Florida organizations that provide food assistance and community resources to help seniors and families. The funding is part of the holiday giving campaigns and will help food banks and community resources to provide healthy, nutritious meals. The donations also allowed the Florida Council on Aging to distribute free holiday gift cards for seniors. The donations are in addition to a previous $100,000 donation to Feeding Florida, a statewide organization dedicated to providing healthy, nutritious meals through its network of food banks.
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FAQ

What is the current stock price of Duke Energy Corporation (DUK)?

The current stock price of Duke Energy Corporation (DUK) is $105.87 as of January 10, 2025.

What is the market cap of Duke Energy Corporation (DUK)?

The market cap of Duke Energy Corporation (DUK) is approximately 81.8B.

What services does Duke Energy provide?

Duke Energy provides electric and gas utilities, serving approximately 8.4 million electric customers and 1.7 million gas customers across multiple states.

What is Duke Energy's clean energy goal?

Duke Energy aims to achieve net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

What is the PowerPairSM program?

PowerPairSM is an incentive-based pilot program in North Carolina that offers up to $9,000 for residential customers to install home solar and battery systems.

What recent strategic initiatives has Duke Energy undertaken?

Recent initiatives include the PowerPairSM program, the sale of its stake in Pioneer Transmission LLC, and partnerships with Amazon, Google, Microsoft, and Nucor for clean energy projects.

Where is Duke Energy headquartered?

Duke Energy is headquartered in Charlotte, North Carolina.

How many customers does Duke Energy serve?

Duke Energy serves approximately 8.4 million electric customers and 1.7 million gas customers.

What is the company's approach to grid decarbonization?

Duke Energy's approach includes investing in renewable energy, energy storage, advanced nuclear technologies, and implementing innovative programs like Accelerating Clean Energy (ACE) tariffs.

What community initiatives does Duke Energy support?

Duke Energy supports local communities through substantial tax contributions, charitable donations via the Duke Energy Foundation, and employee-engaged community service.

What are the benefits of the Accelerating Clean Energy (ACE) tariffs?

ACE tariffs allow large companies to support carbon-free energy investments through innovative financing, contributing to lower costs of emerging clean energy technologies.

How does Duke Energy contribute to local economic development?

Duke Energy contributes to local economies through tax contributions, job creation, local investments, and support for charitable and community causes.
Duke Energy Corporation

NYSE:DUK

DUK Rankings

DUK Stock Data

81.78B
771.31M
0.14%
67.36%
1.18%
Utilities - Regulated Electric
Electric & Other Services Combined
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United States of America
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