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 launching four electric vehicle (EV) pilot programs in Indiana, approved by the Indiana Utility Regulatory Commission, starting Oct. 1 for two years. These programs aim to understand EV adoption impacts, customer charging preferences, and grid benefits. Key offerings include an Off-Peak Charging Credit providing up to $400 over two years, a Commercial Charger Rebate with incentives up to $500 per charging station, a Fleet Advisory for fleet transition assistance, and partial funding for electric school buses. This initiative coincides with National Drive Electric Week running from Sept. 23 to Oct. 2.
Duke Energy is preparing for Hurricane Ian, which is expected to impact the Carolinas with heavy rain and winds. The company has crews and resources strategically positioned to respond to potential outages. Duke Energy has implemented smart technologies that have so far saved customers over 1 million hours of outage time this year alone. Customers are encouraged to prepare for potential outages by creating emergency kits and following safety guidelines. The company's commitment to enhancing the electric grid aims to reduce storm impacts and improve service restoration times.
Duke Energy (NYSE: DUK) will host a virtual presentation on Oct. 4, 2022, from 10 a.m. to 12 p.m. ET, to discuss its progress in delivering affordable and reliable clean energy. Key executives, including Lynn Good and Brian Savoy, will detail the company’s long-term strategy and business initiatives. The presentation can be accessed via the investor section of Duke Energy’s website or through a direct call. The company is committed to achieving net-zero carbon emissions by 2050 and has significant investments in clean energy technologies and grid enhancements.
Duke Energy is preparing for Hurricane Ian's impact on Florida's west coast by mobilizing nearly 10,000 personnel, including lineworkers and tree professionals, to restore power swiftly. As the storm approaches, the company emphasizes customer safety and advises residents to prepare for potential extended power outages. Duke Energy's strategy includes staging resources for rapid response and prioritizing public health and safety facilities during power restoration. With effective monitoring and communication, Duke Energy aims to mitigate storm impacts on its service areas.
Duke Energy (NYSE: DUK) has launched a Charger Prep Credit program to support customers in North Carolina with costs up to $1,133 for upgrading electrical infrastructure for EV chargers. This initiative aligns with National Drive Electric Week, running from Sept. 23 to Oct. 2, aimed at promoting electric vehicle adoption. Customers can choose contractors for the upgrades, excluding charger hardware costs. This move is part of Duke Energy's efforts to facilitate EV accessibility while committing to a clean energy transition by targeting net-zero carbon emissions by 2050.
Duke Energy Florida emphasizes preparedness during National Preparedness Month, encouraging customers to prepare for hurricanes and outages. The company shares safety tips and details on reporting outages, highlighting the importance of maintaining updated contact information for timely notifications. Duke Energy prioritizes storm preparedness year-round, investing in grid reliability and safety measures. The company serves 1.9 million customers across a 13,000-square-mile area and is actively transitioning to cleaner energy sources, aiming for net-zero carbon emissions by 2050.
Duke Energy has partnered with Clearwater Marine Aquarium to install a solar canopy featuring 665 solar panels which will generate nearly 250 kWac of clean energy. Located on the parking garage rooftop, this initiative supports the company's goal of achieving 1,500 megawatts of solar power in Florida by 2024. The generated energy will be fed into the grid for local customers, replacing carbon emissions equivalent to burning over 313,000 pounds of coal annually. Additionally, four electric vehicle charging stations have been installed for use by visitors and staff.
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