Duke Energy Corporation - DUK STOCK NEWS

Duke Energy Florida's multiyear rate agreement has been approved by the Florida Public Service Commission. Key points include:

• Estimated 5% savings on typical residential electric bills in 2025
• Average annual 2% bill increase over three years
• Continued investments in outage reduction, response times, and clean energy
• Expiration of 2022 fuel under-recovery, storm restoration costs, and legacy contracts by end of 2024

The agreement allows Duke Energy Florida to advance its clean energy vision while passing savings to customers. The company serves 2 million customers in Florida and owns 12,300 megawatts of energy capacity.

Duke Energy (NYSE: DUK) has expanded its Home Energy House Call program in North Carolina, introducing new virtual, phone, and web assessment options. This initiative aims to help customers identify ways to save energy and money through improved home efficiency. The program now includes renters of single-family homes and owners/renters of condos, townhomes, and manufactured homes.

Customers receive a free energy efficiency kit, customized usage report, and expert recommendations. The assessments analyze total home energy usage and appliance efficiency. Duke Energy serves 8.4 million electric customers across six states and is committed to a clean energy transition, targeting net-zero methane emissions by 2030 and net-zero carbon emissions by 2050.

Duke Energy Florida (NYSE: DUK) has broken ground on its new Wildwood Training Center in Sumter County, Florida. This state-of-the-art facility will support the training of transmission craft and technical workers responsible for maintaining and upgrading critical power grid infrastructure. The center, set to be completed in 2025, will feature indoor classrooms, equipment training spaces, and an outdoor training area with a substation.

The facility aims to enhance the skills of workers who play a vital role in modernizing and strengthening Duke Energy's system, improving storm protection, grid reliability, and integrating renewable energy. This investment aligns with Duke Energy's ambitious clean energy transition goals, including achieving net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

The Duke Energy Foundation has announced $700,000 in new funding for North Carolina small businesses through its grant program. Partnering with 20 community organizations, grants ranging from $1,000 to $5,000 will be distributed to support retail shops, restaurants, and other small businesses looking to expand, upgrade technology, and improve downtown storefronts. Now in its fourth year, the program has provided over $2 million in funding since its inception during the COVID-19 pandemic. The initiative aims to revitalize Main Streets across the state and support economic development efforts. Small businesses interested in applying for funding are encouraged to inquire with their local nonprofit administering the program.

The Duke Energy Foundation is marking its 40th anniversary by awarding $40,000 in grants to four nonprofit organizations serving Florida. Each organization will receive a $10,000 grant to support their work in strengthening communities across the state. The recipients are:

• Feeding Florida
• Florida State Park Foundation
• American Red Cross
• Prospera (Hispanic Business Initiative Fund)

These grants aim to support initiatives ranging from ensuring a hunger-free Florida to assisting Hispanic entrepreneurs. The Duke Energy Foundation provides over $30 million annually in philanthropic support to meet community needs where Duke Energy customers live and work.

Duke Energy (NYSE: DUK) is offering over $4.6 million in energy bill assistance to help low-income North Carolina families through its Share the Light Fund®. The company has supported more than 11,000 North Carolina households with this amount over the last year. Duke Energy works with over 100 agencies across North Carolina to distribute funds to qualifying customers for energy bills, deposits, and reconnection charges.

Additionally, Duke Energy provides $80,000 annually for North Carolina's Operation Fan Heat Relief, supplying free fans to vulnerable older adults and adults with disabilities. The company also offers various energy-saving programs and assistance tools, including Usage Alerts, free Home Energy House Calls, Budget Billing, and installment payment plans.

Duke Energy Carolinas has proposed a 13.8% reduction in annual fuel cost adjustment for South Carolina customers. If approved by the Public Service Commission of South Carolina (PSCSC), the average monthly residential bill would decrease by $19.60, from $142.23 to $122.63 for a 1,000 kWh usage. Commercial customers would see a 13.8% decrease, while industrial customers would benefit from a 16.2% decrease.

The reduction is primarily due to decreased natural gas costs and a reduced true-up component. If approved, the new rates would take effect in November, significantly offsetting a previously announced base rate increase. Duke Energy Carolinas serves about 660,000 households and businesses in South Carolina's Upstate region.

Duke Energy (NYSE: DUK) has successfully restored power to over 510,000 customers in the Carolinas affected by Tropical Storm Debby, representing more than 95% of impacted customers within 24 hours. As of noon, fewer than 10,000 customers remain without power, with full restoration expected by tonight. The company deployed 7,500 workers for the storm response, emphasizing quick and safe restoration efforts.

Jason Hollifield, Duke Energy's storm director in the Carolinas, expressed gratitude for customer patience and community support. The company provides estimated restoration times for remaining customers on its outage map. Duke Energy, a Fortune 150 company, serves 8.4 million electric customers across six states and 1.7 million natural gas customers across five states. The company is committed to an ambitious clean energy transition, aiming for net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

Piedmont Natural Gas, a subsidiary of Duke Energy (NYSE: DUK), is actively monitoring areas affected by Tropical Storm Debby in the Carolinas. The company is taking steps to ensure customer safety by inspecting natural gas meters for flood damage. Adam Long, Piedmont's chief operations officer, emphasized that flooded equipment can pose hazards and safety is their top priority.

Key points:

• Crews will inspect and potentially remove submerged meters
• Affected customers will need licensed contractor inspections before service restoration
• Piedmont offers comprehensive safety tips for flood-affected residents
• Customers are advised not to attempt repairs on their own
• The company provides a 24-hour hotline (800.752.7504) for emergencies