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 (NYSE: DUK) will host a virtual presentation on Oct. 4, 2022, from 10 a.m. to 12 p.m. ET, to discuss its progress in delivering affordable and reliable clean energy. Key executives, including Lynn Good and Brian Savoy, will detail the company’s long-term strategy and business initiatives. The presentation can be accessed via the investor section of Duke Energy’s website or through a direct call. The company is committed to achieving net-zero carbon emissions by 2050 and has significant investments in clean energy technologies and grid enhancements.
Duke Energy is preparing for Hurricane Ian's impact on Florida's west coast by mobilizing nearly 10,000 personnel, including lineworkers and tree professionals, to restore power swiftly. As the storm approaches, the company emphasizes customer safety and advises residents to prepare for potential extended power outages. Duke Energy's strategy includes staging resources for rapid response and prioritizing public health and safety facilities during power restoration. With effective monitoring and communication, Duke Energy aims to mitigate storm impacts on its service areas.
Duke Energy (NYSE: DUK) has launched a Charger Prep Credit program to support customers in North Carolina with costs up to $1,133 for upgrading electrical infrastructure for EV chargers. This initiative aligns with National Drive Electric Week, running from Sept. 23 to Oct. 2, aimed at promoting electric vehicle adoption. Customers can choose contractors for the upgrades, excluding charger hardware costs. This move is part of Duke Energy's efforts to facilitate EV accessibility while committing to a clean energy transition by targeting net-zero carbon emissions by 2050.
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Duke Energy Florida emphasizes preparedness during National Preparedness Month, encouraging customers to prepare for hurricanes and outages. The company shares safety tips and details on reporting outages, highlighting the importance of maintaining updated contact information for timely notifications. Duke Energy prioritizes storm preparedness year-round, investing in grid reliability and safety measures. The company serves 1.9 million customers across a 13,000-square-mile area and is actively transitioning to cleaner energy sources, aiming for net-zero carbon emissions by 2050.
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.