Duke Energy Corp - DUK STOCK NEWS

Duke Energy is allocating an additional $100,000 for energy bill assistance in Indiana, allowing qualifying customers to receive up to $300 annually. This funding supports over 1,100 households this year, with a total of $260,000 distributed to date. The assistance is administered through the Share the Light Fund, in partnership with the Indiana Community Action Association. Additionally, interest-free payment plans for eligible customers have been extended from three to six months, providing more resources for those facing financial challenges.

Duke Energy Florida has announced the completion of two new lithium-ion battery storage sites in Alachua and Hamilton counties. The sites, with capacities of 8.25 MW and 5.5 MW, aim to enhance grid reliability and efficiency, directly benefiting local customers. This initiative is part of a broader commitment involving a $2 billion investment in solar generation, targeting 25 solar power plants to deliver 1,500 MW of emission-free energy by 2024. Duke Energy continues to lead in clean energy technology, emphasizing the importance of energy storage in future energy delivery.

Duke Energy (NYSE: DUK) has launched the utility industry's first sustainable commercial paper notes, aiming to support diverse suppliers and socioeconomic advancement. The company plans to allocate net proceeds to eligible projects, including giving opportunities to certified minority and women-owned businesses. Duke Energy expects to have between $300 million and $650 million of these notes outstanding over the next year. This initiative aligns with the company's goal of reducing carbon emissions by at least 50% by 2030 and achieving net-zero emissions by 2050.

Duke Energy is launching a pilot program in Florida to explore the use of Ford F-150 Lightning electric trucks as a grid resource. The program will test vehicle-to-grid (V2G) capabilities, allowing the trucks to supply power to homes and the grid during outages and peak demand periods. This initiative includes adding five trucks to Duke's fleet for extensive research on their battery performance and integration with solar energy systems. Duke aims to benefit customers and enhance the grid's efficiency while supporting its goals for clean energy transition by 2030 and net-zero carbon emissions by 2050.

Duke Energy has partnered with Ford to launch a demand response pilot program in North Carolina, leveraging the Ford F-150 Lightning's batteries to enhance the electric grid's reliability. Scheduled for 2023, the program will incentivize up to 100 participants by reducing lease payments for eligible EVs. Customers will allow their vehicles to return energy to the grid during peak times, thereby supporting energy balance. This initiative aims to promote a sustainable grid and is part of Duke Energy's broader goal of achieving net-zero emissions by 2050.

Duke Energy (NYSE: DUK) reported its second-quarter 2022 financial results. The call, led by CEO Lynn Good and CFO Steve Young, is available for access on their investor website. The company serves 8.2 million electric customers and 1.6 million natural gas customers, actively pursuing a clean energy transition with goals of net-zero methane emissions by 2030 and net-zero carbon emissions by 2050. Duke Energy aims to enhance its electric grid and explore zero-emission technologies, while maintaining a significant energy capacity of 50,000 megawatts.

Duke Energy (NYSE: DUK) announced significant executive appointments, effective September 1, 2022. Brian Savoy will transition from chief strategy and commercial officer to chief financial officer, succeeding Steve Young, who will become chief commercial officer. Savoy will manage financial functions, including financial planning and risk management, while Young will oversee renewable energy initiatives and strategies for achieving net-zero emissions. These changes are aimed at positioning the company for success in its clean energy transition.

Duke Energy Carolinas has filed with the South Carolina Public Service Commission for an adjustment in fuel costs due to increased demand post-COVID-19 and rising fuel prices. If approved, residential customers using 1,000 kWh will see their bills rise from $119.32 to $135.07, marking a 13.2% increase starting October 1, 2022. Commercial and industrial customers will face average increases of 18.3% and 24.4%, respectively. The adjustment addresses a $145 million under-recovery in fuel costs, as the company does not profit from these rates.