Duke Energy Corp Stock Price, News & Analysis

Duke Energy has shared energy-saving tips and financial assistance options for customers in the Carolinas as high temperatures approach. To reduce energy use and costs, Duke Energy advises customers to set thermostats to the highest comfortable setting, change air filters regularly, close curtains during sunny days, and use ceiling fans. The company also offers various programs such as the Power Manager and Flex Savings Option, which provide incentives and bill credits for participating. Additionally, Duke Energy provides payment assistance plans and free home energy assessments to help lower energy usage. Customers can track their energy use through the Duke Energy app. For more information, visit duke-energy.com/SummerSavings.

The Florida State Parks Foundation has partnered with Duke Energy Florida and the Friends of Wakulla Springs State Park to unveil a new accessible playground at Edward Ball Wakulla Springs State Park. The playground, inspired by the park's iconic river tour boats, includes several accessible play elements and a wide path to accommodate mobility devices. The project, costing $72,204, was primarily funded by Duke Energy Florida with a $44,000 donation.

Additional contributions included $15,000 from the Friends of Wakulla Springs State Park and the remaining balance from the Foundation. This playground is part of a broader initiative by Duke Energy Florida, which has donated over $300,000 to state parks for various amenities. The new playground aims to provide inclusive recreational experiences for all visitors.

Duke Energy will release its second-quarter 2024 financial results on August 6 at 7 a.m. ET. An earnings conference call for analysts is set for 10 a.m. ET the same day, hosted by CEO Lynn Good, President Harry Sideris, and CFO Brian Savoy. The call can be accessed through Duke Energy's investor website or by phone. A recording of the webcast will be available the next day. Duke Energy, a Fortune 150 company, serves 8.4 million electric and 1.7 million natural gas customers across several states. The company aims for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050, investing in grid upgrades and cleaner energy sources.

The Public Service Commission of South Carolina (PSCSC) has approved new customer rates for Duke Energy Carolinas, effective August 1, 2024. Residential customers can expect an 8.7% increase ($12.06/month), with further 4.3% hike ($6.42/month) in August 2026. Commercial and industrial rates will also rise by 4.6% and 4.4%, respectively. The rate changes reflect investments in system reliability and diversity, and the return of tax benefits due to the Federal Tax Cuts and Jobs Act of 2017. The settlement, agreed upon with various consumer and environmental groups, includes a $2 million shareholder-funded study to explore low-income customer support programs. The PSCSC approved recovery of investments in natural gas, nuclear, solar, and hydroelectric units. The agreement sets the return on equity at 9.94% and an equity component of 51.21%. The only unapproved provision was for environmental compliance costs.

Duke Energy's Chief Diversity Officer is celebrating Pride Month by recognizing the company's five LGBTQ+ employee resource groups (ERGs) for their contributions to creating an inclusive workplace. Duke Energy, headquartered in Charlotte, N.C., is a Fortune 150 company and one of America's largest energy holding companies, serving 8.2 million electric and 1.6 million natural gas customers across multiple states. The company is committed to a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050, with significant interim targets. Duke Energy is also investing in grid enhancements, energy storage, and zero-emission technologies. The company has been recognized on Fortune's 2023 'World's Most Admired Companies' and Forbes' 'World's Best Employers' lists.

Duke Energy has been honored with the Edison Electric Institute (EEI) Emergency Response Award for its effective response during Hurricane Idalia. This recognition follows a rigorous international nomination process and was awarded at EEI's annual meeting in June. Hurricane Idalia, a Category 3 storm, significantly impacted Florida on August 30, 2023, causing severe flooding and power outages to nearly 200,000 Duke Energy customers. Duke Energy successfully restored power to over 90% of those affected within 24 hours. The company's strategic placement of over 4,000 lineworkers and professionals played a important role in the quick recovery. EEI President Dan Brouillette praised Duke Energy's commitment to safety and efficiency in power restoration.

As South Carolina faces warmer-than-average temperatures this summer, Duke Energy is offering various programs and tools to help customers manage and reduce their energy use. Customers can take advantage of Usage Alerts to better predict electricity costs, use the website or app to monitor energy usage, and participate in savings programs such as Power Manager, Flex Savings Option, and Smart $aver. Additionally, Duke Energy provides a Home Energy House Call for free home energy assessments and a Weatherization Program for income-qualified customers. Payment assistance is also available through installment plans and partnerships with local and state agencies. Low- to no-cost tips for reducing energy use include inspecting HVAC systems, sealing air leaks, using smart thermostats, and operating ceiling fans counterclockwise during summer.

Duke Energy is actively investing in community college programs to develop a new generation of skilled lineworkers, addressing the increasing demand for these roles. Harrison Cochran, a former Navy welder, transitioned to a stable career at Duke Energy through Cape Fear Community College's (CFCC) electrical lineworker training program. The program, partially funded by a $200,000 grant from Duke Energy Foundation in 2018, has graduated nearly 900 students to date, contributing to 41% of Duke Energy's entry-level apprentice lineworker hires in 2023. This initiative supports the company's need for highly skilled workers as the existing workforce approaches retirement. Industry experts highlight the program's success due to the quality training provided and Duke Energy's reputation, attracting motivated students like Cochran.

Duke Energy is swiftly progressing in restoring power after recent storms, with 91,886 of the 113,327 affected customers now back in service. Significant efforts are focused on Bloomington and Terre Haute, with an estimated majority of Terre Haute customers expected to have power by 6 p.m. Thursday, and Bloomington by midnight. The restoration workforce includes 1,170 personnel, with support from Ohio and Kentucky. Duke Energy prioritizes restoring large power lines and essential services, such as hospitals and water facilities. Duke Energy Indiana services approximately 900,000 customers and provides around 6,300 megawatts of electric capacity.