Duke Energy Corp - DUK STOCK NEWS

Piedmont Natural Gas, a Duke Energy (NYSE: DUK) subsidiary, is raising awareness about natural gas leak safety as more homes use gas heating during fall and winter. The company injects mercaptan into natural gas to give it a distinctive rotten egg smell, making leaks easily detectable. Signs of a leak include bubbling water, blowing dirt, dead plants, sinkholes, exposed pipe, and hissing sounds. If a leak is suspected, residents should leave immediately and call Piedmont (800.752.7504) or 911 from a safe location. The company also recommends installing natural gas detectors as an additional safety measure.

Duke Energy demonstrated the effectiveness of its self-healing technology during hurricanes Helene and Milton in Florida, preventing over 300,000 customer outages and saving more than 300 million minutes of total outage time. The technology, which serves 77% of Duke Energy Florida customers, can reduce affected customers by up to 75% and restore power in under a minute. The company's grid improvements include hardening over 40,000 poles in three years, maintaining vegetation across 4,000 miles of distribution lines, and expanding infrastructure with 100 miles of new transmission lines and 16 new substations since 2021.

Duke Energy is developing one of the largest utility-based Habitat Conservation Plans (HCP) focusing on bat protection and vegetation management. The initiative aims to balance necessary grid maintenance across 380,000 miles of right of way with environmental conservation. The U.S. Fish and Wildlife Service awarded Duke Energy a $1 million grant for 2024-2025 to support this project. The plan addresses eight federally endangered or threatened bat species affected by white-nose syndrome and habitat loss. The company expects permit issuance by 2026, with the conservation plan lasting up to 30 years.

Duke Energy launches a monthlong campaign to combat hunger in South Carolina, pledging over $500,000 to support more than 50 feeding programs. The initiative begins with Yam Jam, where 170 volunteers packaged 50,000 pounds of sweet potatoes for Thanksgiving food boxes. The Duke Energy Foundation is contributing $100,000 to FoodShare South Carolina organizations, including $30,000 to Mill Village Farms. The campaign addresses critical needs in South Carolina, where nearly 700,000 people face food insecurity, including 1 in 8 residents and 1 in 6 children, particularly as communities recover from Hurricane Helene.

Duke Energy (NYSE: DUK) has released its third-quarter 2024 financial results. The announcement is available on the company's website at duke-energy.com/investors. Key executives, including CEO Lynn Good, will discuss the results and provide business updates during an investor call at 10 a.m. ET today. The call can be accessed via the company's investor section or by dialing provided numbers, with a confirmation code of 367401. A recording of the webcast will be available on Nov. 8.

Duke Energy, headquartered in Charlotte, N.C., is a Fortune 150 company and one of the largest energy holding companies in the U.S., serving 8.4 million electric and 1.7 million natural gas customers. The company is committed to a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions by 2050. Duke Energy is investing in electric grid upgrades and cleaner energy generation, including storage, renewables, natural gas, and nuclear.

Duke Energy Florida received approval from the Florida Public Service Commission to lower rates in January 2025. Residential customers using 1,000 kWh will see a $9.77 decrease in their monthly bills compared to December 2024. Commercial and industrial customers will experience bill reductions between 5.1% to 11.1%. While the company plans to continue grid improvements for enhanced security and reliability, customers should note that storm cost recovery for hurricanes Debby, Helene, and Milton, to be filed in December 2024, may impact rates as early as March 2025.

The North Carolina Utilities Commission (NCUC) has approved Duke Energy's Carolinas Resource Plan, which outlines significant clean energy expansion. The plan includes 3,460 MW of new solar, 1,100 MW of battery storage, 1,200 MW of onshore wind, and additional combustion and combined cycle units by 2031. The NCUC also approved development work for Bad Creek II, advanced nuclear capacity, and offshore wind projects. The commission increased the minimum planning reserve margin to 22% by 2031 and waived the requirement to achieve 70% carbon reduction by 2030, while maintaining focus on customer affordability with projected bill impacts of 0.9% by 2038.

Duke Energy announces initiatives to help customers save energy and money before winter. The company offers a free home energy assessment through the Home Energy House Call program, providing customers with efficiency kits, usage reports, and expert recommendations. Additional savings opportunities include the Smart $aver® home improvement rebate programs for insulation and sealing, and the Flex Savings Option - a time-of-use rate program. The company also provides Usage Alerts through smart meters to help customers track and manage their energy consumption. Duke Energy shares various energy-saving tips, including thermostat management, regular air filter changes, and proper use of ceiling fans.

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.