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 Florida is preparing for Hurricane Milton, expected to cause over 1 million power outages. The company is mobilizing approximately 10,000 responders to handle the aftermath of the Category 4 hurricane. Storm surge, strong winds, and heavy rainfall are anticipated to cause widespread equipment damage and extended outages.
Duke Energy is deploying crews from its Midwest operations and setting up staging locations outside Milton's projected path. The company urges customers to prepare for extended power outages and follow safety guidelines, especially regarding flooding and electrical safety. Customers are encouraged to update their contact information and use various methods to report outages, including the Duke Energy mobile app and website.
Duke Energy Florida (NYSE: DUK) is urging customers to prepare for extended outages and widespread damage due to Tropical Storm Milton, which is expected to strengthen into a major hurricane. The company's meteorologists are closely monitoring the storm, which poses a significant threat to Florida's west coast. Duke Energy is mobilizing crews from across the country to assist with power restoration efforts.
The company advises customers to:
- Create or update an emergency supply kit
- Keep a portable radio or TV for weather updates
- Charge electronic devices
- Plan for potential evacuation
Customers can report outages through the Duke Energy website, mobile app, text message, or phone. The company emphasizes the importance of safety and staying informed through emergency management updates.
Duke Energy has restored power to 90% of Carolinas customers capable of receiving power following Hurricane Helene. As of 4 p.m. ET, fewer than 105,000 customers in South Carolina and approximately 141,000 customers in North Carolina remain without power. The company expects to complete most restorations by the end of the weekend, but warns it could take days for all customers in the hardest-hit areas.
Duke Energy's restoration strategy has focused on repairing the backbone of its system first, likened to interstate highways of the power grid. The company is now shifting to restore thousands of miles of lines serving individual homes and businesses. Jason Hollifield, Duke Energy storm director, noted the unprecedented scale and severity of damage, requiring an unprecedented amount of equipment, people, and time to restore service.
Duke Energy Florida has completed restoration efforts for all customers in Pinellas County's barrier islands capable of receiving power after Hurricane Helene, meeting and often exceeding estimated restoration times. The company has restored approximately 800,000 storm-related power outages across Florida. Duke Energy Florida is mobilizing customer care units to provide on-site assistance and will continue offering resources and support for the long recovery process.
The company reminds customers to be vigilant against scams and fraud, emphasizing that they will never threaten immediate disconnection or demand payment information over the phone. Duke Energy Florida is also closely monitoring Tropical Storm Milton, which is expected to strengthen, and crews are prepared to respond to any potential impacts.
Duke Energy Florida is nearing complete restoration of power outages caused by Hurricane Helene in Pinellas County's barrier islands. The company is on track to meet or exceed estimated restoration times, with most areas expected to be restored by 11:59 p.m. on Friday, Oct. 4, and some by 11:59 p.m. on Saturday, Oct. 5. Several communities are already at or near 100% restoration.
Restoration progress varies across different municipalities, with percentages ranging from 79% to 100% complete. Duke Energy has also mobilized customer care units to provide on-site assistance. The company serves 2 million customers across a 13,000-square-mile service area in Florida and is part of Duke Energy, a Fortune 150 company executing an ambitious clean energy transition.
Duke Energy (NYSE: DUK) continues to rebuild power infrastructure following Hurricane Helene. As of October 4, 2024, more than 2.16 million customers have been restored in the Carolinas, with approximately 85,000 restored since 4 p.m. the previous day. However, 334,000 customers remain without service in Upstate South Carolina and the mountains of North Carolina.
The company is using drones and helicopters to inspect for additional damage and locate equipment in hard-to-reach communities. Some customers may be unable to receive power due to loss or destruction of their homes or businesses. Duke Energy is prioritizing restoration of schools, medical facilities, and water and sewer facilities, as well as customers with special medical needs.
In North Carolina, the focus is on rebuilding the backbone of electrical infrastructure damaged by high winds and flooding. The company expects to restore nearly all customers in upstate South Carolina by Sunday, but restoration may be extended in areas with catastrophic damage.
Duke Energy (NYSE: DUK) continues its power restoration efforts in western North Carolina and Upstate South Carolina following Hurricane Helene's catastrophic damage. Over 21,000 workers are engaged in restoring power to the remaining 420,000 customers without electricity. The company expects to restore power to 90% of affected customers in both states by Friday.
In South Carolina, 219,000 customers remain without power, with plans to restore an additional 134,000 by Friday evening and the remaining 85,000 by Sunday. In North Carolina, 201,000 customers are still affected, with 27,000 to be restored by Friday and another 69,000 by Sunday. However, 105,000 customers in catastrophically damaged areas face longer waits.
Duke Energy is collaborating with state and local agencies to overcome challenges such as destroyed infrastructure and access. The company has already repaired more than 2 million power outages in the Carolinas.
Duke Energy Florida (DUK) is assisting customers affected by Hurricane Helene, offering resources and information to support recovery. The company continues power restoration in hard-hit areas, including Pinellas County's barrier islands, with estimated restoration times of 11:59 p.m. on October 4 for most and October 5 for some. Duke Energy has mobilized customer care units in severely impacted locations to provide on-site assistance.
The company advises customers with property damage to contact them for safety assessments and outlines steps for rebuilding power connections. Duke Energy Florida also warns customers about post-storm scams and offers information on bill payment assistance programs. Customers can use the Outage Map and Outage Alerts for individual restoration estimates.
Duke Energy has released new b-roll and photos of its response to Hurricane Helene. The updated media content includes footage of a Spartanburg, SC self-contained crew staging site, field interviews with lineworkers and engineers in the hardest-hit areas, and b-roll of a mobile substation being installed in the Asheville, NC area. These materials are now available for download on the Duke Energy News Center.
Duke Energy (NYSE: DUK) is a Fortune 150 company serving 8.4 million electric customers and 1.7 million natural gas customers across multiple states. The company is committed to a clean energy transition, aiming for net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. Duke Energy is investing in grid upgrades and cleaner generation, including energy storage, renewables, natural gas, and nuclear.
Duke Energy Florida has issued estimated times of restoration for Pinellas County's barrier islands following Hurricane Helene. All customers capable of receiving power will be restored by 11:59 p.m. on Saturday, Oct. 5, with the majority restored by 11:59 p.m. on Friday, Oct. 4. The company has established a dedicated webpage, dukeenergyupdates.com/BarrierIslands, for the latest information.
Duke Energy Florida has also mobilized customer care units in severely impacted areas from Oct. 2 to Oct. 4, with representatives available to answer questions and provide account assistance at specific locations in Madeira Beach, St. Pete Beach, Clearwater Beach, and Crystal River.
Customers who cannot receive power due to property damage should contact local municipalities for guidance. Those in mainland Pinellas County, Pasco County, and other service areas can use the Outage Map and enroll in Outage Alerts for individual estimated restoration times.
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