Duke Energy Corp Stock Price, News & Analysis

Duke Energy's Great Falls enhancement project will open to the public on March 18, 2023, featuring new recreational opportunities. The project includes the Nitrolee Access Area, which will provide boater access, parking, and an interpretive center. Key improvements restore aquatic habitats and facilitate recreational flow releases for activities like canoeing and kayaking. Additional enhancements will follow, including new access areas and a planned state park on Dearborn Island. The project supports economic development in Great Falls and fulfills agreements from the Comprehensive Relicensing Agreement signed in 2006.

The Duke Energy Foundation has announced a new $500,000 microgrant program aimed at enhancing emergency preparedness in South Carolina. The program, now in its second year, is open for applications from nonprofits and government agencies until April 5. Grants of up to $20,000 can be requested to fund projects that improve resilience against severe weather. In 2022, 34 organizations received support for critical resources. Duke Energy continues its commitment to strengthening local communities and their capacity to respond effectively to disasters.

Duke Energy has announced the establishment of a pioneering performance center for zero-emission commercial electric vehicles (EV) at its Mount Holly Technology and Innovation Center. This initiative aims to accelerate the development and deployment of electric fleets, featuring microgrid integration for reliable charging. By the end of 2023, fleet operators will benefit from a commercial-grade depot supported by solar energy and energy storage solutions. Collaborating with Electrada and Daimler Trucks North America, the center is poised to enhance fleet electrification, promoting sustainability and cost-efficiency in North Carolina.

Duke Energy has announced a $100,000 grant from its foundation to support the Moon Shot for Equity initiative aimed at increasing college graduation rates among underserved students in Greater Cincinnati and Northern Kentucky. This initiative collaborates with four local higher education institutions, which will receive direct financial assistance and aid in creating an online resources portal. Key strategies focus on enhancing access to financial aid, improving transfer pathways, coordinating university services, and removing unnecessary registration holds. The grant reflects Duke Energy's commitment to bridging equity gaps in higher education.

Duke Energy Sustainable Solutions (DESS) has launched its largest solar power plant, the 250-MW Pisgah Ridge Solar project in Navarro County, Texas. This project features three long-term virtual power purchase agreements (VPPAs) with notable companies like Charles River Laboratories, which has committed to sourcing 100% of its North American electric power from renewable sources by 2023. The plant employs around 300 workers at peak construction and will significantly benefit the local community with increased tax revenues. The project aligns with DESS's goal to expand renewable energy resources while supporting sustainability efforts among commercial customers.

Duke Energy Florida's updated fuel and capacity rate request has been approved by the Florida Public Service Commission, leading to a residential bill of $171.83 for 1,000 kWh, reflecting a $6.28 increase, or just under 4%. The new rates, effective April 2023, incorporate a 21-month recovery period for under-recovered fuel costs, reducing the overall bill increase by $27.21 compared to prior estimates. Additionally, the company will pass on approximately $56 million in tax savings from the Inflation Reduction Act to customers, contributing to further relief amidst rising operational costs due to natural gas price fluctuations.

Duke Energy announced significant support for customers facing rising energy costs, distributing over $191 million to nearly 190,000 residential customers in 2022. The initiative, part of a collaboration with 1,500 agencies, helps customers access funds from the Low Income Home Energy Assistance Program (LIHEAP). In North Carolina, more than $75 million was allocated to assist approximately 77,000 customers. Duke Energy emphasizes the importance of community collaboration to reach those in need and offers various programs like Budget Billing and Installment Payment Plans to further support customers facing energy challenges.

Duke Energy Florida is launching the Neighborhood Energy Saver program in DeLand, aimed at providing more than 1,400 income-eligible customers with free energy-efficient home upgrades. Phase 1 starts in March 2023, with additional enhancements planned for Phase 2. Eligible homes could receive over 17 energy-saving improvements, including AC maintenance, insulation, and energy-efficient lighting. The initiative has already benefited 47,000 customers since its inception in 2006, saving nearly $1.25 billion through energy programs. The program emphasizes energy education to help residents lower their monthly bills.

Duke Energy has launched the Blue River Solar Facility in Shelbyville, Indiana, marking the first project of its pilot solar program. This facility spans 8 acres and will provide up to 900 kilowatts of solar energy, primarily for the local business, Toray Resin Co., which aims to reduce its carbon emissions significantly by 2030. Through a lease program, local businesses can access solar energy without upfront costs, receiving credits for the energy produced. The construction faced delays due to supply chain issues during the pandemic, but the project was successfully completed in August 2022.