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 (NYSE: DUK) generates a steady stream of news as a Fortune 150 energy holding company with major regulated electric and natural gas utilities. This page aggregates coverage of Duke Energy’s announcements, allowing readers to follow developments affecting its multi-state operations in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, as well as its natural gas utilities in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.
News about Duke Energy frequently highlights investments in electric grid upgrades, cleaner generation and customer affordability. Recent company communications describe targeted infrastructure projects in Florida that expand solar capacity, upgrade natural gas power plants, harden the grid against storms and deploy self-healing technology, with reported savings of more than $1 billion in energy costs for customers. Other updates detail changes to storm cost recovery charges and bill impacts in response to hurricanes and regulatory decisions in the Carolinas and Florida.
Investors and observers can also track Duke Energy’s progress on the energy transition through news on nuclear and advanced technologies. Examples include the DeBary Hydrogen Production Storage System in Florida, capable of producing, storing and using green hydrogen, and large battery energy storage systems at former coal plant sites in the Carolinas. Regulatory and financial news items cover rate cases, performance-based regulation proposals, production tax credit mechanisms, and scheduled earnings releases and conference calls.
Community and philanthropic initiatives are another recurring news theme, such as America250 grants from the Duke Energy Foundation and employee-driven community investments. By following Duke Energy news, readers can monitor operational decisions, regulatory outcomes, infrastructure projects, customer programs and community support efforts that shape the company’s role in the U.S. utilities sector.
Duke Energy will release its first-quarter financial results on May 9, 2022, at 7 a.m. ET, accessible via its investor website. A conference call for analysts will follow at 10 a.m. ET to discuss the results and provide further updates. The call will be hosted by Lynn Good and Steve Young, and can be accessed by phone or online. Duke Energy serves 8.2 million customers and aims for net-zero carbon emissions by 2050, with significant investments in renewable energy and grid enhancements. Further details can be found on their official website.
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The Duke Energy Foundation has awarded over $641,000 in grants to support K-12 energy and engineering education initiatives in Florida. This funding, benefiting 22 organizations, aims to enhance educational experiences for underrepresented and low-income students and close opportunity gaps exacerbated by the pandemic. Grant recipients include local education foundations and community organizations focused on STEM programs. The foundation prioritizes building capacity for local education foundations and fostering a future workforce skilled in energy and engineering careers.
Piedmont Natural Gas has filed a request with the South Carolina Public Service Commission to raise residential customer bills by nearly $4 monthly, or $46 annually. This rate adjustment aims to recover costs from recent capital investments and operating expenses to ensure safe and reliable natural gas service. If approved, the new rates will take effect by October 1. The overall revenue increase for Piedmont's customer groups will be 3.4%. The last rate case in South Carolina occurred in 2002, with incremental adjustments made since 2005.
Piedmont Natural Gas and Duke Energy remind customers to call 811 before digging during National Safe Digging Month. This initiative aims to prevent injuries, outages, and costly repairs associated with damaging underground utility lines. In 2021, there were nearly 9,800 hits to underground lines, a 68% increase from the previous year. The 811 service helps identify utility locations to avoid accidents. Calling 811 at least three days prior to excavation is encouraged to maintain safety and prevent service disruptions.
Duke Energy is reinforcing its commitment to North Carolina's communities by allocating $500,000 in grants for the second year through its Hometown Revitalization Program, aimed at supporting local microgrant initiatives. The funding, awarded to 20 communities, will provide each community with $25,000 to assist small businesses, with microgrants ranging from $500 to $2,500. Since the pandemic began, Duke has contributed over $1.5 million to aid small business recovery. The grant application is open until May 31, with announcements planned for August.
Duke Energy has announced a grant allocation of $120,000 to 26 economic development organizations in Indiana aimed at job creation and investment. This funding, part of the company's Partnership Program, will enhance local marketing strategies and economic growth initiatives. Since 2017, Duke Energy has contributed nearly $600,000 to support Indiana's economic development. Organizations receiving funds include the Shelby County Development Corporation, which plans to promote its community in Japan to attract investment.
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Duke Energy has launched the Energy Industry Second Chance Pilot Program in South Carolina, aiming to reduce recidivism by helping former prisoners reintegrate into the workforce. The initiative provided nearly $27,000 in funding from the Duke Energy Foundation to cover training and essential services like transportation and financial literacy. Participants received on-the-job training in utility vegetation management and will continue with Lewis Tree Service post-training, addressing both labor shortages and community reintegration.
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