Duke Energy Corp - DUK STOCK NEWS

Duke Energy Florida received approval from the Florida Public Service Commission to lower rates in January 2025. Residential customers using 1,000 kWh will see a $9.77 decrease in their monthly bills compared to December 2024. Commercial and industrial customers will experience bill reductions between 5.1% to 11.1%. While the company plans to continue grid improvements for enhanced security and reliability, customers should note that storm cost recovery for hurricanes Debby, Helene, and Milton, to be filed in December 2024, may impact rates as early as March 2025.

The North Carolina Utilities Commission (NCUC) has approved Duke Energy's Carolinas Resource Plan, which outlines significant clean energy expansion. The plan includes 3,460 MW of new solar, 1,100 MW of battery storage, 1,200 MW of onshore wind, and additional combustion and combined cycle units by 2031. The NCUC also approved development work for Bad Creek II, advanced nuclear capacity, and offshore wind projects. The commission increased the minimum planning reserve margin to 22% by 2031 and waived the requirement to achieve 70% carbon reduction by 2030, while maintaining focus on customer affordability with projected bill impacts of 0.9% by 2038.

Duke Energy announces initiatives to help customers save energy and money before winter. The company offers a free home energy assessment through the Home Energy House Call program, providing customers with efficiency kits, usage reports, and expert recommendations. Additional savings opportunities include the Smart $aver® home improvement rebate programs for insulation and sealing, and the Flex Savings Option - a time-of-use rate program. The company also provides Usage Alerts through smart meters to help customers track and manage their energy consumption. Duke Energy shares various energy-saving tips, including thermostat management, regular air filter changes, and proper use of ceiling fans.

Duke Energy Carolinas announced a significant rate decrease for South Carolina customers starting November 1, 2024. Residential customers will see a 12.7% decrease in their monthly bills, with average bills dropping by $19.52 from $154.29 to $134.77 for 1,000 kWh usage. Commercial and industrial customers will experience reductions of 13.5% and 15.7% respectively. This decrease, primarily driven by lower natural gas costs, more than offsets the base rate increase implemented in August. The adjustment comes as part of the annual fuel cost-recovery filing reviewed by the Public Service Commission of South Carolina.

Duke Energy employees are actively participating in hurricane relief efforts following Hurricane Helene in western North Carolina. Over 200 employees in Raleigh packed emergency supply kits including first aid supplies, diapers, and hygiene items. Charlotte-based employees prepared 10,000 emergency food boxes and processed 40,000 lbs. of apples. In Upstate South Carolina, employees helped raise nearly $200,000 through a telethon. Duke Energy crews continue working to restore power in the most affected areas while collaborating with various partners including the American Red Cross and local food banks.

Duke Energy organized a 'Rally for Relief' event in Raleigh, gathering over 200 employees, nonprofit partners, and volunteers to support western North Carolina. The initiative resulted in packing 1,000 American Red Cross emergency kits, 50,000 diapers with DIAPER BANK OF NORTH CAROLINA, and hygiene kits in partnership with The No Woman, No Girl Initiative. The supplies will be distributed to the mountain region through Inter-Faith Food Shuttle and MANNA FoodBank. Duke Energy, serving 8.2 million electric customers and 1.6 million natural gas customers across multiple states, is pursuing ambitious clean energy goals, including net-zero methane emissions by 2030 and net-zero carbon emissions from electricity generation by 2050.

Duke Energy (NYSE: DUK) has received approval for Green Source Advantage Choice (GSA-C) in North Carolina, an expanded program helping large businesses access 100% renewable, carbon-free energy. Key features include:

1. Up to 5,000 megawatts (MW) of capacity, over five times the original program's capacity.
2. New bill credit option and increased capacity for customers to match 100% of their energy usage.
3. Flexibility for customers to select and negotiate with renewable suppliers.
4. Option to combine battery storage at renewable facilities.
5. Several customer options: Bring Your Own PPA, Resource Acceleration Option, and a new 'easy option' to work directly with Duke Energy.

The program is fully funded by participating businesses, with no cost to non-participants. Duke Energy plans to file a subscription-based community solar program later this year.

Duke Energy Florida has restored power for over 99% of customers impacted by Hurricane Milton, meeting or exceeding estimated restoration times for all counties. As of 9 a.m. on October 17, 2024, approximately 3,000 outages remain, down from over 1 million immediately after the storm. These outages are mainly in Pasco and Pinellas counties, where the most devastation occurred.

Thousands of crews continue working to complete restoration, focusing on difficult-to-access areas. Customers with extensive damage or flooding may face extended outages. Duke Energy Florida state president Melissa Seixas emphasized the company's commitment to restoring power for all customers and thanked communities for their support.

Customers can report outages through the Duke Energy website, mobile app, text, or phone. The company's Outage Map provides the most up-to-date information on power outages.

Duke Energy (NYSE: DUK) has announced key leadership changes for its South Carolina operations. Tim Pearson, 42, will become the new South Carolina state president effective Nov. 1, succeeding Mike Callahan, who has been promoted to senior vice president and treasurer of the company. Pearson will manage state and local regulatory and government relations, as well as community affairs in South Carolina.

Pearson, who joined Duke Energy full-time in 2023 as vice president of government affairs, brings over a decade of experience in government and policy in South Carolina. In his new role, he will work closely with the corporate and regulatory strategy team to advance legislative, rate, and regulatory initiatives in the state.

Tigerron "Tiger" Wells, 45, currently state government affairs director, will succeed Pearson as vice president of government affairs, managing the company's legislative strategy in South Carolina.