Duke Energy Corp - DUK STOCK NEWS

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.

Duke Energy Florida has restored power to over 99% of customers in Pasco County and other areas affected by Hurricane Milton. Storm-related outages across the company's service territory have decreased from over 1 million to approximately 30,000, mainly in Pinellas County. Crews continue working on remaining outages, often involving equipment serving fewer than 25 customers in hard-to-access areas.

Todd Fountain, Duke Energy Florida storm director, acknowledged customer frustration and assured continued efforts until all possible restorations are complete. Customers unable to receive power due to property damage should contact local municipalities for guidance. Duke Energy offers multiple ways to report outages, including their website, mobile app, text service, and phone line.

Duke Energy Foundation is providing $100,000 in grants to 13 organizations in South Carolina with existing home ramp programs for low-income senior citizens or those with disabilities. Each program qualified for up to $15,000 in funding based on the population they serve. The grants aim to improve safety and quality of life for seniors by enabling them to safely enter and exit their homes.

This initiative is a continuation of the Foundation's efforts from 2023, where they provided $225,000 in grants to 15 qualifying nonprofits. The current year's grants focus specifically on home ramp programs to allow for more targeted disbursement of funds. In addition to financial support, Duke Energy employees will volunteer with several organizations to build ramps in communities within the company's service territory.

Duke Energy Florida has restored power to over 95% of customers in 12 counties affected by Hurricane Milton. As of October 14, 2024, storm-related outages have decreased from over 1 million to approximately 105,000. Most remaining customers without power in Pinellas and Pasco counties are expected to be restored by 11:59 p.m. ET on Tuesday, October 15.

Todd Fountain, Duke Energy Florida storm director, emphasized the importance of timely power restoration for customers' daily lives and recovery process. The company remains committed to restoring power to all customers capable of receiving it by the end of Tuesday. However, customers with extensive damage or flooding may face extended outages.

Duke Energy Florida provides multiple ways for customers to report outages, including their website, mobile app, text messaging, and phone. The company encourages customers to stay updated through their Outage Map or by enrolling in Outage Alerts.