Duke Energy Corp - DUK STOCK NEWS

Duke Energy will release its fourth-quarter and year-end 2022 financial results on February 9, 2023, at 7 a.m. ET. An earnings conference call will follow at 10 a.m. ET, hosted by CEO Lynn Good and CFO Brian Savoy. The call can be accessed on their investors' section. Duke Energy, serving 8.2 million customers, aims for a 50% carbon reduction by 2030 and net-zero emissions by 2050. The company was recognized in Fortune's and Forbes' esteemed lists for 2022.

Duke Energy (NYSE: DUK) announced a quarterly cash dividend of $1.005 per share, payable on March 16, 2023, to shareholders recorded by February 17, 2023. Additionally, dividends on Series A and Series B preferred stocks were declared, amounting to $359.375 and $24.375 per share, respectively, also payable on the same date. The company has maintained a consistent cash dividend for 97 consecutive years, reflecting its commitment to shareholder returns and financial stability.

Duke Energy issued an apology to customers after rotating power outages affected approximately 500,000 customers in North Carolina and South Carolina during Winter Storm Elliott. This marked the company's first-ever implementation of rolling outages in the Carolinas, necessitated by extreme cold and high electricity demand. The outages were prolonged due to automated system failures and communication issues. Duke Energy's leadership expressed commitment to improving reliability and customer communication in future emergencies.

Duke Energy has responded to the North Carolina Utilities Commission's (NCUC) recent order regarding its carbon plan, a mandate under state law. The plan, initially proposed in May 2022, will be updated every two years, with a new proposal due by September 1, 2023. Duke Energy's statement emphasized progress in transitioning to clean energy, having retired two-thirds of its coal plants and achieved a 40% reduction in emissions since 2005. The company supports a balanced approach to resource planning, aiming for net-zero carbon emissions by 2050.

Duke Energy has credited customer energy conservation for maintaining power supply during a peak demand period due to extreme cold temperatures. The company requests continued conservation measures until 10 a.m. on December 26 to avoid potential rotating outages. With businesses reopening, an increase in demand is expected. Duke Energy has experienced outages from high winds and cold temperatures but is optimistic about avoiding further interruptions through customer efforts. The company provides guidelines for reducing energy consumption during high-demand periods.

Duke Energy reported significant disruptions in power service due to extreme cold weather and high energy demand, affecting approximately 500,000 customers in the Carolinas. The company implemented rotating outages to maintain grid stability and is actively restoring power after a high-wind event caused additional outages for 40,000 customers. Customers are urged to conserve energy to avoid further outages, particularly during the cold snap. Duke Energy's operations serve over 8.2 million customers across multiple states and own 50,000 megawatts of energy capacity.

Duke Energy reports tight electricity supplies due to extreme cold weather on December 24, 2022. The utility urges customers to conserve energy and is implementing load shedding to manage demand. Outages will be temporary and rotate among customers, expected to last until at least 9 a.m. today. Duke Energy is actively working to restore power following disruptions from a wind storm. The company serves 8.2 million customers across several states and is focused on a clean energy transition, aiming for net-zero carbon emissions by 2050.