Welcome to our dedicated page for Duke Energy news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy stock.
Duke Energy Corporation reports developments tied to one of the largest regulated utility platforms in the United States. The company operates electric utilities serving customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and natural gas utilities in North Carolina, South Carolina, Ohio and Kentucky.
Recurring news themes include quarterly financial results, common and preferred stock dividends, electric grid modernization, generation investments, customer cost initiatives, and regulatory approvals affecting power plants and utility service. Company updates also cover nuclear generation, natural gas and other resource additions, federal and state regulatory matters, and Duke Energy Foundation community programs in the utility territories it serves.
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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Duke Energy Foundation has launched its second year of Hometown Revitalization grants, providing $500,000 in funding to assist small businesses across North Carolina as they recover from pandemic-related economic challenges. A total of 20 community organizations will receive $25,000 each to establish microgrant programs, enabling small businesses to access funds ranging from $500 to $2,500 for various improvements. This initiative underscores Duke Energy's commitment to enhancing local vibrant communities.
Duke Energy Florida is addressing rising fuel costs by offering customer assistance and extending payment plans. As fuel prices significantly increased by over 100% since January 2023, customers can expect an approximate 13% rise in monthly bills starting January 2023, excluding under-recovered fuel costs from 2022. Duke Energy emphasizes that it does not profit from these costs and is actively managing expenses while enhancing service reliability. The company proposes delaying the filing for 2022 under-recovered fuel costs, hoping for market stabilization.
Duke Energy Progress has requested a rate review from South Carolina regulators to enhance system resilience and reliability for over 172,000 customers in the Pee Dee region. This marks the company’s first base rate increase since 2018, with proposed adjustments phasing in over two years. If approved, residential bills could rise by 14.7% starting April 1, 2023, increasing from $133.01 to $147.37 per month for typical energy use. Commercial and industrial customers may see a 7.8% rise. The company emphasizes that these adjustments are essential for improving infrastructure amid rising operational costs.
Duke Energy Indiana has launched a solar energy facility at Toray Resin Company's Shelbyville campus, generating up to 900 kilowatts of electricity. This solar project marks the initiation of Duke Energy's pilot program aimed at facilitating the adoption of renewable energy for businesses, schools, and nonprofits. The facility consists of 2,487 solar panels and is designed to support Toray's manufacturing operations while minimizing upfront costs. The solar services program offers eligible customers a lease option for on-site solar systems, with an initial capacity limit of 10 megawatts.
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Duke Energy, based in Charlotte, N.C., is responding to the forecast of above-average temperatures in the Carolinas by offering energy-saving tips to help customers manage their energy use and bills. The company assures it has the resources to provide reliable service. Suggestions include changing air filters, adjusting thermostat settings, and utilizing smart meters to track usage. Duke Energy is committed to a clean energy transition, aiming for net-zero carbon emissions by 2050.
Duke Energy, based in Charlotte, N.C., has appointed Amy Strecker as the president of the Duke Energy Foundation, effective Sept. 1. The foundation annually contributes over $30 million to community philanthropic efforts and will focus on a holistic strategy that aligns with the company’s clean energy transition goals. Strecker, who joined Duke Energy in 2010, aims to enhance community engagement through the foundation's pillars of vibrant economies, climate resilience, and equity. This leadership aims to integrate philanthropy with business objectives to better serve local communities.
Siemens Energy and Duke Energy have achieved the GUINNESS WORLD RECORDS title for the most powerful simple cycle gas power plant, producing an output of 410.9 megawatts at the Lincoln Combustion Turbine Station in North Carolina.
The SGT6-9000HL turbine, designed for high efficiency and flexibility, supports the integration of renewable energy sources. With an efficiency improvement of 34% over existing turbines, this development aligns with Duke Energy's commitment to a clean energy transition, targeting net-zero carbon emissions by 2050.