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) is advancing in its multi-year clean energy transition, targeting net-zero emissions by 2050. CEO Lynn Good reported a $63 billion investment plan, with 80% focused on clean energy. The company surpassed 10,000 megawatts of renewables, aiming for 24,000 megawatts by 2030. Efforts include retiring nearly 1,000 megawatts of coal in 2021 and expanding its carbon reduction goals. Duke Energy emphasizes customer support, offering over $100 million in financial assistance and energy-saving programs to manage bills.
Duke Energy (NYSE: DUK) has declared a quarterly cash dividend of $0.985 per share for its common stock, payable on June 16, 2022, to shareholders of record by May 13, 2022. Additionally, a dividend of $359.375 per share on its Series A preferred stock will also be paid on the same date. This marks 96 consecutive years of cash dividends for Duke Energy. The company serves 8.2 million electric customers across several states and is committed to a clean energy transition, targeting net-zero carbon emissions by 2050.
Duke Energy Florida, in partnership with Coastal Conservation Association Florida, deployed eight concrete reef modules to create the "Duke Energy/CCA Florida Reef" off Mexico Beach, Florida. This initiative, involving more than 170,000 pounds of concrete, aims to enhance marine habitats and attract diverse fish species, benefiting recreational anglers. Since 2018, Duke Energy and CCA Florida have released over 110,000 redfish to combat declining populations. This project emphasizes Duke Energy's commitment to environmental stewardship and supports local fishing communities.
Duke Energy Indiana has upgraded three turbines and generators at its Markland Hydroelectric Station, enhancing renewable energy output by 10%. The $152 million project, completed in April 2022, allows the facility to generate sufficient power for 52,000 homes, contributing an additional 39 GWh annually. This upgrade supports Duke Energy's commitment to cleaner energy, having reduced sulfur dioxide emissions by 96% since 2005. The company plans to invest in solar and wind energy, aiming for net-zero carbon emissions by 2050.
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Duke Energy Sustainable Solutions has commenced construction on the 120-megawatt Jackpot Solar project in Twin Falls County, Idaho, marking its first renewable energy facility in the state. Upon completion, it will be Idaho's largest solar facility and is scheduled to be operational by the end of 2022. The project will supply energy to Idaho Power under a 20-year power purchase agreement, aiding Idaho Power's goal of achieving 100% clean energy by 2045. The initiative is expected to employ around 200 workers and generate significant economic benefits for the local community.
Duke Energy (NYSE: DUK) announced its investment in two renewable natural gas (RNG) projects in North Carolina, Foothills Renewables and Upper Piedmont Renewables. These initiatives will convert landfill gas from local landfills into RNG, producing approximately 1 million dekatherms annually, equivalent to the annual usage of about 17,000 homes. Developed by Evensol LLC and constructed by Energyneering Solutions LLC, the projects aim to enhance sustainability and are expected to be operational by Q4 2022.
Purdue University and Duke Energy announced a collaboration to explore the feasibility of using Small Modular Reactors (SMRs) to meet the energy needs of Purdue's campus. This initiative aims to provide reliable and carbon-free power, aligning with rising global interest in nuclear technology. The partnership leverages Purdue's expertise in nuclear engineering to evaluate the practicality of SMRs, which are noted for their modularity and efficiency. Duke Energy's considerable experience in nuclear operations will aid this exploration, potentially impacting the state's energy grid.
Duke Energy (NYSE: DUK) achieved a record in renewable energy, adding nearly 1,800 MW in 2021, leading to a total of over 10,500 MW of wind and solar capacity. The company successfully reduced carbon emissions by 44% from 2005 levels and is on track for a 50% reduction by 2030. Duke Energy aims for net-zero emissions by 2050, with a commitment to improve its energy mix significantly. The ESG Report highlights substantial investments, economic contributions, and a commitment to diversity and environmental justice.