Duke Energy Corp - DUK STOCK NEWS

Duke Energy Florida is set to begin construction on its first floating solar array pilot in Polk County, enhancing its clean energy efforts. This nearly 1 MW project, comprising over 1,800 floating solar modules, will occupy around 2 acres of a cooling pond at the Hines Energy Complex. The construction is expected to take five to six months. This initiative is part of the Vision Florida program aimed at testing innovative clean energy technologies. Duke Energy, a major energy player, is committed to achieving net-zero carbon emissions from electricity generation by 2050 and has set interim carbon reduction targets.

Duke Energy Corporation (NYSE: DUK) announced the pricing of a private offering of $1.5 billion in convertible senior notes with an interest rate of 4.125% due April 15, 2026. The offering includes a possible additional $225 million for overallotments. The net proceeds, estimated at $1.476 billion, will be used to repay commercial paper and for general corporate expenses. The convertible notes are convertible under specific conditions, with an initial conversion rate of 8.4131 shares per $1,000 principal amount, representing a 25% premium over the most recent stock sale price.

Duke Energy Foundation has launched its second year of a $500,000 microgrant program to enhance emergency preparedness in South Carolina. The initiative aims to improve community resilience against severe weather through funding for training, equipment, and advanced technology. Applications are open for nonprofits and governmental agencies until April 5, with requests up to $20,000. In 2022, the foundation supported 34 organizations, providing vital resources for disaster planning and response. This commitment underscores Duke Energy's ongoing support for local emergency responders:

Fifteen lineworkers from Duke Energy Florida qualified for the International Lineman's Rodeo in Bonner Springs, Kansas, scheduled for October 11-14, 2023. They secured their spots after dominating the regional Duke Energy Florida Lineman's rodeo on April 1, 2023. This competition involved over 70 apprentices and 12 journeyman teams showcasing their skills in various tasks related to safety and efficiency. The success of these lineworkers highlights Duke Energy's commitment to excellence in safety and service delivery with a focus on continuous skill enhancement.

Duke Energy Corporation (NYSE: DUK) announced plans for a private placement of $1.5 billion in convertible senior notes due 2026. This offering may be increased by $225 million via an over-allotment option for initial purchasers. The funds will be utilized to repay outstanding commercial paper and for general corporate activities. The notes will be unsecured, directly obligated by Duke Energy, and convertible under specific conditions. Duke Energy intends to sell these notes to qualified institutional buyers under Rule 144A of the Securities Act.

On April 2, 2023, Duke Energy announced the restoration of power to over 61,000 customers in Indiana after severe storms disrupted services. Approximately 70,000 customers experienced outages, with around 9,200 still without power as of Sunday morning. Duke Energy's workforce has been supplemented by contractors to expedite the restoration process, focusing on critical areas first. The company aims to restore nearly all services by midnight that day, though some areas may face extended outages due to severe damage. Customers can receive updates through text alerts by texting REG to 57801.

April is recognized as Safe Digging Month, highlighting the importance of contacting 811 to mark underground utility lines before any excavation. Duke Energy and Piedmont Natural Gas urge customers to call 811 at least three business days prior to digging to prevent accidents. In 2022, there were over 10,000 incidents of damage to underground utilities across their service areas, with approximately 3,600 affecting natural gas lines. The 811 service is vital for ensuring the safety of customers and utility infrastructure.

On March 30, 2023, Duke Energy Florida recognized its lineworkers for their efforts during Hurricane Ian at the Tampa Bay Rays opening day. Nearly 100 workers were honored for restoring power to 1 million customers post-storm. For every Rays victory this season, Duke Energy pledges to donate $1,000 to its Share the Light Fund, which assists Floridians with utility bills. The fund is matched dollar-for-dollar by the Duke Energy Foundation, up to $500,000. Duke Energy Florida operates 10,500 megawatts of energy capacity across Florida, serving 1.9 million customers.

Piedmont Natural Gas has announced a reduction in customer billing rates following a decrease in the market cost of natural gas, effective April 2023. This reduction will lead to an average savings of $3 per month or $36 annually for Tennessee residential customers, contributing to a total annual savings of $421 when combined with previous reductions in January and March 2023. The company aims to alleviate costs for its customers as they navigate the colder months. Piedmont maintains that it does not markup natural gas costs, passing savings directly to customers and continues to offer assistance programs for those in need.