Duke Energy Corp - DUK STOCK NEWS

Duke Energy responds positively to the North Carolina Supreme Court's ruling, affirming the prudence of its coal ash management practices, essential for providing reliable electricity. The court backed the North Carolina Utilities Commission's decision, allowing cost recovery linked to coal ash management. Duke Energy emphasizes that North Carolina electric rates remain below the national average and will continue efforts to keep rates low. The company anticipates further clarification on a remanded issue from the ruling.

Duke Energy has allocated over $460,000 to assist its Indiana customers struggling to pay their electric bills this winter, contributing to a total of more than $600,000 for 2020. The funding includes corporate contributions and customer donations, addressing the economic hardships faced due to the pandemic. Customers may receive up to $300 in assistance through the Indiana Community Action Association and the Energy Assistance Program. Duke Energy emphasizes the need for support this winter, with a focus on energy-saving tips to help customers manage their costs.

Duke Energy Renewables has partnered with Sutton Avian Research Center to install a second bald eagle nest camera in Oklahoma, enhancing wildlife education and research. The company granted $37,500 to the Sutton Center, known for its avian conservation efforts, including the significant restoration of Oklahoma's bald eagle population. Duke's Frontier Windpower II project, nearing completion, is set to generate 550 MW of wind energy, promoting renewable energy while implementing eagle protection measures through advanced technology. This initiative aligns with Duke Energy's commitment to sustainable practices in wildlife conservation.

Duke Energy has partnered with Siemens Energy and Clemson University to research hydrogen as an energy storage solution and low-carbon fuel source at the university's combined heat and power plant. The U.S. Department of Energy awarded Siemens Energy a $200,000 grant for this initiative, known as H2-Orange, set to begin in March 2021. The study will explore various hydrogen production methods, including green hydrogen. Duke Energy aims to reduce its carbon footprint and enhance cost-effectiveness in energy production, aligning with its net-zero carbon goal by 2050.

Duke Energy Foundation has awarded a $150,000 grant to the Indiana Natural Resources Foundation for enhancements at Ravinia State Forest in Morgan County, Indiana. The funding will support projects including parking lot improvements, new shelter houses with utilities, trail upgrades, and picnic facilities. Scheduled for spring 2021, the enhancements aim to improve public access and promote outdoor recreation. Duke Energy Indiana provides 6,600 megawatts of electric capacity to around 850,000 customers, underscoring its role as Indiana's largest electric supplier.

Duke Energy Progress announces a decrease in monthly energy bills for customers in North Carolina, effective December 2020. Residential customers will see a reduction of $4.59, lowering average bills from $116.87 to $112.28, a drop of 3.9%. Commercial and industrial customers will also benefit from reductions of 3.6% and 2.3%, respectively. The adjustments stem from annual rate changes approved by the North Carolina Utilities Commission, reflecting fuel cost adjustments and compliance with renewable energy standards.

Duke Energy has merged its upstream and downstream supply and transaction applications into a single platform, the Trellis Energy Transaction Management System (ETMS), marking a significant first in the U.S. natural gas local distribution sector. This integration enhances contract management, demand forecasting, and billing across five states, improving efficiency for large-volume customers. The new system allows for more accurate energy management, which could lead to cost savings for industrial clients. Duke Energy aims to innovate continually to meet customer needs in a rapidly changing market.

Duke Energy announced significant executive changes to enhance its strategy for achieving net-zero carbon emissions by 2050. Effective December 1, 2020, Preston Gillespie will become the senior vice president and chief generation officer, integrating various generation strategies. Kelvin Henderson takes over as chief nuclear officer, and Ben Waldrep will lead North Carolina nuclear operations. Additional appointments include Keith Butler as chief security officer, Katie Aittola as chief risk officer, and Melissa Feldmeier as chief ethics and compliance officer. These changes aim to strengthen the company's leadership.