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 will announce its third-quarter financial results on Nov. 4, 2021, at 7 a.m. ET, with a news release available on its website. An earnings conference call for analysts will follow from 10 to 11 a.m. ET, featuring CEO Lynn Good and CFO Steve Young. The company serves 7.9 million electric and 1.6 million natural gas customers across several states and aims for a 50% carbon reduction by 2030. Duke Energy is also recognized as a leading renewable energy provider, targeting 16,000 megawatts of renewable capacity by 2025.
Duke Energy Foundation has awarded $425,000 to fund various environmental initiatives in Florida. The investments aim to enhance biodiversity, improve access to science education, and support wildlife conservation. Key projects include releasing 100,000 redfish fingerlings along the west coast to bolster recreational fishing and funding for organizations like Audubon Florida and Clearwater Marine Aquarium to address habitat restoration. The foundation, funded by Duke Energy shareholder dollars, contributes over $30 million annually to community needs.
Duke Energy Foundation has granted almost $500,000 to 16 organizations in South Carolina for wildlife conservation, environmental projects, and educational programs. The funding aims to enhance natural resources and provide educational opportunities, as highlighted by South Carolina president Michael Callahan. Notable grants include $25,000 to Ducks Unlimited for wetland habitat enhancement and $50,000 to Francis Marion University for a mobile field lab. Duke Energy continues to invest in community partnerships for long-term environmental benefits.
Duke Energy (NYSE: DUK) announced a partnership with Google's Nest Renew, aimed at enhancing customer engagement with energy-saving programs through compatible thermostats. This collaboration seeks to support a cleaner energy future by providing customers with innovative solutions to save money and conserve energy. Duke Energy continues to offer competitive rates and reliable service to its 7.9 million customers across several states. The Nest Renew program will roll out an early preview this fall, focusing on boosting renewable energy resources and achieving climate goals.
Piedmont Natural Gas warns customers of anticipated winter bills due to higher natural gas prices and approved rate increases effective Nov. 1. Customers in North Carolina will see an average increase of $11.34 monthly, totaling $136 annually, while South Carolina customers face a $11.00 monthly rise, or $132 yearly. The company emphasizes its commitment to customer support, suspending disconnections for qualifying customers until March 2022 and offering energy-saving resources. Piedmont, a Duke Energy subsidiary, focuses on providing safe, reliable service amid economic challenges.
Duke Energy Ohio has requested a public review from the Public Utilities Commission of Ohio for a rate adjustment totaling approximately $55 million. If approved, this will lead to an average increase of 3.86% for residential customers, remaining below the national average. The adjustments aim to enhance reliability and service through investments in a smart grid and advanced meters. New benefits include a fee-free payment option and dynamic rate plans for energy consumption. Duke Energy also emphasizes its ongoing support for customers facing financial hardships.
Duke Energy Foundation has announced the distribution of $750,000 in grants to support local businesses across North Carolina, marking a 50% increase over the previous $500,000 funding announced in April. The grants will now aid 30 communities instead of 20, helping small businesses recover from pandemic-related challenges. Each awarded community organization will receive $25,000 to establish microgrant programs for local businesses, fostering economic revitalization. The program is inspired by successful initiatives in Downtown Raleigh.
Duke Energy Sustainable Solutions has announced the construction of the 207-megawatt Ledyard Windpower project in Kossuth County, Iowa, marking its first renewable energy venture in the state. A 15-year virtual power purchase agreement with Verizon will secure 180 MW of the generated wind energy. Once operational, the project will boost Duke Energy's U.S. wind capacity to over 3,100 MW, providing energy for more than 72,450 homes. The project is expected to create around 200 jobs during construction and generate significant local tax revenues.
Duke Energy has selected four Indiana properties for its 2021 Site Readiness Program to boost economic development. The chosen sites are in Carroll, Clark, Posey, and Tippecanoe counties, each receiving up to $10,000 for preparation. Since 2013, the program has prepared 38 sites, attracting over 11 major projects, resulting in 2,700 new jobs and $666 million in capital investment. The initiative enhances job creation and private-sector investment opportunities in Indiana, reinforcing Duke Energy's commitment to local economies.
FAQ
What is the current stock price of Duke Energy Corporation (DUK)?
What is the market cap of Duke Energy Corporation (DUK)?
What services does Duke Energy provide?
What is Duke Energy's clean energy goal?
What is the PowerPairSM program?
What recent strategic initiatives has Duke Energy undertaken?
Where is Duke Energy headquartered?
How many customers does Duke Energy serve?
What is the company's approach to grid decarbonization?
What community initiatives does Duke Energy support?
What are the benefits of the Accelerating Clean Energy (ACE) tariffs?
How does Duke Energy contribute to local economic development?
