Duke Energy Corporation - DUK STOCK NEWS

Duke Energy Florida has launched its new Bayboro electrical substation, a gas insulated switchgear (GIS) facility aimed at enhancing power reliability for St. Petersburg. This substation, operational since November 29, is designed to withstand 150 mph winds and features an indoor structure that protects equipment from severe weather. The project reduces maintenance costs and supports critical local infrastructure.
Additionally, Duke Energy is investing in renewable energy projects, including a solar array and battery system at the University of South Florida.

Duke Energy has completed a monthlong initiative in South Carolina, providing nearly $150,000 in microgrants to support food insecurity organizations. These unannounced grants helped approximately 50 feeding programs, totaling $250,000 in November alone. The funding will allow organizations like Meals on Wheels and Manna House to expand their services. Duke Energy aims to tackle community food needs while investing over $30 million annually through its foundation. This initiative reflects the company's commitment to community support as it pursues clean energy goals.

Duke Energy has submitted a net metering agreement to the North Carolina Utilities Commission to enhance solar adoption and align compensation with utility benefits. This initiative aims to stabilize the residential solar market in North Carolina. The program, developed alongside several renewable organizations, includes innovative pricing models and new tariffs for solar customers from January 1, 2023. Duke Energy has invested $62 million in a solar rebate program, resulting in a sixfold increase in private solar systems since 2018, reflecting a commitment to carbon reduction and clean energy transition.

Duke Energy has launched the Share the Light Fund, an initiative to provide enhanced financial assistance to customers facing difficulties with energy bills. This new program extends the previous efforts of Share the Warmth and the Energy Neighbor Fund. Duke Energy will match up to $1 million in contributions from customers in the Carolinas, emphasizing the importance of support during rising fuel costs and economic challenges from the pandemic. The company collaborates with agencies to distribute funds to eligible customers. Contributions can be made starting November 30, 2021.

Duke Energy Indiana has submitted a plan to state regulators aimed at enhancing the reliability of its electric grid for over 860,000 customers. The six-year initiative focuses on advanced technology and infrastructure upgrades, targeting a 17% reduction in outages and a 19% decrease in outage duration. Key features include automated circuits serving 65% of customers, grid hardening, and preparation for renewable energy integration. The project may create 1,270 jobs and generate $4.3 million in annual tax revenue. If approved, average rate increases of 1% per year are expected from 2024 to 2029.

Duke Energy has announced a $150,000 scholarship program aimed at supporting nuclear engineering students at South Carolina State University. This initiative will provide scholarships to 15 students over three years, fostering diversity in the nuclear workforce. The program is part of Duke's ongoing commitment to strengthen ties with historically Black colleges and universities (HBCUs). Additionally, Duke aims for significant carbon reduction and renewable energy goals, positioning itself as a leader in clean energy.

Duke Energy, based in Charlotte, N.C., warns customers about a rise in phone scams threatening immediate disconnection of service unless payment is made. With nearly 30,000 reported attempts in 2020, only 4% of customers fell victim to such scams, down from over 9% since 2016. Duke Energy encourages customers to hang up on potential scammers and verify their account status through official channels. The Utility Scam Awareness Day on Nov. 17, part of International Scam Awareness Week, aims to educate consumers on recognizing and avoiding scams.

Duke Energy (NYSE: DUK) has entered into a cooperation agreement with Elliott Investment Management, which includes the appointment of two independent directors to its board. Idalene Kesner, Dean of Indiana University's Kelley School of Business, is the first appointee, bringing extensive governance experience. The agreement aims to enhance shareholder value and further Duke's clean energy initiatives. Duke Energy also announced that Michael Browning will retire as independent lead director, to be succeeded by Ted Craver. The company has set a $60-$65 billion capital plan from 2022-2026 and has improved its earnings per share growth guidance to 5%-7% through 2025.