Welcome to our dedicated page for Duke Energy Corporation news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy Corporation stock.
Duke Energy Corporation (NYSE: DUK) is one of the largest energy holding companies in the United States, headquartered in Charlotte, N.C. The company operates across three main business segments: electric utilities and infrastructure, gas utilities and infrastructure, and commercial renewables. With electric utilities serving approximately 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky, Duke Energy owns a diverse energy portfolio with a capacity of 54,800 megawatts. The gas utilities division provides natural gas to around 1.7 million customers in the Carolinas, Ohio, Kentucky, and Tennessee.
Duke Energy is at the forefront of the transition to clean energy. The company has committed to achieving net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. This goal is supported by ongoing investments in electric grid upgrades, energy storage, renewable energy sources, natural gas, and advanced nuclear technologies.
The company's commercial renewables segment develops and operates renewable energy projects across the United States, contributing to a growing portfolio that supports a sustainable energy future. Duke Energy’s initiatives include the implementation of innovative programs like PowerPair, which incentivizes residential customers in North Carolina to install home solar and battery systems, enhancing the reliability and affordability of clean energy solutions.
Recent milestones for Duke Energy include the approval of the PowerPairSM incentive-based pilot program, expansion of demand response programs in North Carolina, and strategic divestitures such as selling its 50% stake in Pioneer Transmission LLC. These actions reflect the company's strategy to optimize its asset portfolio and reinvest in its clean energy objectives.
Duke Energy also fosters strategic partnerships to enhance its clean energy transition. Collaborations with major companies like Amazon, Google, Microsoft, and Nucor aim to explore new approaches for carbon-free energy generation and innovative financing structures through programs like the Accelerating Clean Energy (ACE) tariffs. These partnerships are designed to support large businesses in achieving their sustainability goals while contributing to overall grid decarbonization.
Beyond its business operations, Duke Energy is a key economic contributor to the communities it serves. The company's commitment includes substantial tax contributions, local investments, and support for charitable causes through the Duke Energy Foundation. Employees are actively engaged in community service, further reinforcing the company’s integral role in local development and social responsibility.
With a strong dedication to innovation, sustainability, and community engagement, Duke Energy continues to lead the energy sector towards a cleaner, more reliable, and sustainable future.
Duke Energy will resume standard billing practices in South Carolina on October 1, 2020, keeping disconnections for nonpayment suspended until October 12. Customers facing financial hardship due to the COVID-19 pandemic can make payment arrangements until October. The company has been actively assisting customers with flexible payment plans and encouraging them to access funds from programs like LIHEAP. Duke Energy has donated over $500,000 to support community programs amid the pandemic. The company emphasizes its commitment to helping customers manage their energy bills during this challenging time.
Duke Energy will implement standard billing practices in North Carolina from October 2020, continuing to suspend service disconnections for nonpayment until then. Customers facing financial hardship due to COVID-19 can establish flexible payment plans and will not incur late fees during this period. The company has contributed over $2.1 million to support local organizations addressing food and educational needs. Duke Energy urges eligible customers to access financial support programs, as it resumes regular operations while prioritizing customer assistance.
Duke Energy (NYSE: DUK) reported its second-quarter 2020 financial results on August 10, 2020. The company, based in Charlotte, N.C., serves 7.8 million retail electric customers across six states and distributes natural gas to 1.6 million customers in five states. It generates 51,000 megawatts through regulated utilities and 2,300 megawatts through Duke Energy Renewables. An investor presentation led by CEO Lynn Good and CFO Steve Young highlighted key business updates, emphasizing the company's commitment to modernizing the energy grid and generating cleaner energy.
Duke Energy has partnered with the South Carolina Chamber of Commerce to assist small businesses affected by COVID-19. A $100,000 grant from the Duke Energy Foundation will support 56 businesses, particularly those owned by minorities and women. The program includes six months of mentoring and a $1,000 microgrant for pandemic-related expenses. Additionally, online classes will be offered to enhance skills in various business areas. This initiative emphasizes Duke Energy's commitment to community support during challenging times.
Duke Energy Florida is preparing for potential outages as Hurricane Isaias is projected to impact the Southeast coast of Florida on Saturday. The storm may bring strong winds and heavy rainfall, affecting power supply for customers in central and eastern Florida. Duke Energy emphasizes its commitment to providing safe and reliable power, especially during the pandemic when customers are home more than ever. The company is implementing COVID-19 safety measures for its crews while restoring power. Customers are encouraged to sign up for outage alerts and follow safety recommendations.
Duke Energy Carolinas plans to reduce monthly fuel costs for its South Carolina customers starting Oct. 1, 2020. A typical residential customer using 1,000 kWh will see a decrease of $6.81, approximately 5.6%. Commercial customers will also experience a 5.6% reduction, while industrial customers will save about 9.8%. This annual adjustment is based on actual fuel costs, with no profit margin for Duke Energy on these rates. The proposed decrease impacts over 600,000 customers across South Carolina.
Duke Energy (NYSE: DUK) has announced a partnership with SustainRNG to develop renewable natural gas (RNG) from dairy farms in the southeastern United States. The company has taken a minority stake in SustainRNG and will work together to engineer, finance, and operate RNG facilities. This collaboration aims to capture methane from organic waste, benefiting farmers by providing an additional revenue source while also helping to reduce waste management costs. The first project is expected to be completed in 2021, leveraging advanced anaerobic digestion technology.
Duke Energy and Buncombe County are collaborating to construct a 5-megawatt solar power plant on a retired landfill in Woodfin, North Carolina. This initiative supports the county's 2030 renewable energy goals and aims to provide energy to Duke Energy customers in the Carolinas. The project will generate enough energy to power around 1,000 homes annually, utilizing concrete blocks for solar racking to protect the landfill's ground covering. Duke Energy's investment in renewable projects reinforces its status as a national leader in solar energy, operating 40 solar plants in North Carolina.
Duke Energy has awarded $648,000 in grants to 16 organizations across North Carolina aimed at enhancing workforce education and training programs. The funding prioritizes initiatives addressing skill gaps and fostering a diverse future workforce in the energy sector. Notable recipient North Carolina Central University reported an 82% increase in physics program enrollment due to previous support. These grants align with Duke Energy's Powerful Communities philanthropic program, underlining its commitment to building diverse workforce initiatives.
Duke Energy Florida has announced $655,000 in grants to 19 educational and workforce development programs aimed at addressing skills gaps exacerbated by the COVID-19 pandemic. The funding is part of the company’s commitment to fostering a skilled workforce in the energy sector. Notable recipients include Lake-Sumter State College and St. Petersburg College, with awards of $120,000 and $100,000 respectively. Duke Energy emphasizes its role in supporting local communities and enhancing career opportunities in the energy industry, which boasts an average annual salary exceeding $77,000.
FAQ
What is the current stock price of Duke Energy Corporation (DUK)?
What is the market cap of Duke Energy Corporation (DUK)?
What services does Duke Energy provide?
What is Duke Energy's clean energy goal?
What is the PowerPairSM program?
What recent strategic initiatives has Duke Energy undertaken?
Where is Duke Energy headquartered?
How many customers does Duke Energy serve?
What is the company's approach to grid decarbonization?
What community initiatives does Duke Energy support?
What are the benefits of the Accelerating Clean Energy (ACE) tariffs?
How does Duke Energy contribute to local economic development?
