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 is actively restoring power to customers in Florida affected by Tropical Storm Nicole, having already restored service to over 160,000 customers. The company anticipates that by midnight, 90% of customers in the first areas cleared by the storm will have power restored. As of 3 p.m., approximately 83,000 customers remain without power out of the 1.9 million served in the state. Restoration efforts are underway, and estimated times will be provided to customers as conditions improve.
Duke Energy has issued a warning as Tropical Storm Nicole approaches the Carolinas, anticipating heavy rains and gusty winds that may lead to potential outages. The company has mobilized around 6,000 line and tree workers to respond swiftly to any outages caused by the storm. Historical improvements to the grid, including the installation of self-healing technology, have significantly enhanced resilience against weather impacts, as demonstrated during Hurricane Ian. Customers are encouraged to prepare for possible outages and stay informed through official channels.
Duke Energy Florida is advising customers to stay safe as Tropical Storm Nicole impacts the region, leading to widespread power outages. High winds and heavy rain are anticipated to cause further outages throughout the day. Once conditions permit, repair crews will begin restoring power. Customers are urged to report downed power lines and follow safety guidelines during outages. Duke Energy serves 1.9 million customers across Florida and is committed to a clean energy transition with significant carbon emission reduction targets.
Duke Energy (NYSE: DUK) has secured a $22 million utility energy services contract to design and build a microgrid at Marine Corps Base Camp Lejeune. This project includes a 5 MW natural gas generation system, a 5.4 MW battery energy storage system, and upgraded electrical infrastructure aimed at enhancing energy resiliency. Funded by the Energy Resilience Conservation Investment Program, this initiative will bolster the base's electrical capabilities to withstand power outages due to weather-related events.
Duke Energy Florida is preparing for potential power outages caused by Tropical Storm Nicole by staging approximately 5,000 workers throughout the state. Crews from various states will assist in restoration efforts once conditions allow. The storm is expected to impact areas still recovering from Hurricane Ian, prompting Duke Energy to monitor resources closely. Customers are advised to prepare for outages and stay informed through various communication channels. The company aims to provide timely updates on power restoration efforts.
Duke Energy (DUK) is preparing for potential impacts from Subtropical Storm Nicole in Florida, urging customers to take precautions. The storm may lead to significant power outages due to damaging winds and heavy rain. Crews and resources are strategically positioned across Florida to ensure prompt response and power restoration. Duke Energy has invested in smart, self-healing technologies that aided in restoring over 160,000 outages during Hurricane Ian. The company aims to enhance self-healing capabilities from 59% to 80% of its customers within the next few years.
Duke Energy announced Kendal Bowman as the new North Carolina state president, effective January 1, succeeding Stephen De May, who retires after 33 years. Bowman, with Duke Energy since 1999, has managed regulatory affairs and policy and will lead the company’s utility operations in North Carolina, which serves 3.7 million electric and 786,000 natural gas customers. The firm is focused on a clean energy transition, aiming for net-zero carbon emissions by 2050. Duke Energy boasts a workforce of 28,000 and serves about 8.2 million customers across several states.
Duke Energy has appointed Abby Motsinger as vice president of Investor Relations effective Nov. 16, and Sharene Pierce as vice president and chief diversity officer effective Dec. 1. Motsinger, previously director of jurisdictional forecasting, will lead investor relations and strategic communications. Pierce will develop strategies for diversity and inclusion, succeeding Cameron McDonald. Both bring extensive experience and leadership skills to their new roles, highlighting the company’s commitment to clean energy transition and operational excellence.
Duke Energy (NYSE: DUK) released its third-quarter 2022 financial results on Nov. 4, 2022. The company serves 8.2 million electric customers across seven states and aims for net-zero carbon emissions by 2050. The financial results are available on their investors' section. Duke Energy's presentation includes insights from CEO Lynn Good and CFO Brian Savoy. The company is recognized in Fortune's "World's Most Admired Companies" and Forbes' "World's Best Employers" lists.
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