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Duke Energy Corporation - DUK STOCK NEWS

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.

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Duke Energy Florida (NYSE: DUK) is promoting energy efficiency through easy do-it-yourself projects to help customers manage energy use during peak summer heat. The company has lowered rates twice in 2024, resulting in residential customers paying about $17 less per 1,000 kWh compared to last year. Duke Energy offers step-by-step instructions for various projects, including:

  • Installing switch and outlet seals
  • Applying weatherstripping to doors
  • Caulking around windows and doors
  • Replacing showerheads with low-flow models
  • Installing faucet aerators

Customers can also track their energy usage through the Duke Energy website or app. The company aims to empower customers with knowledge and tools to control their energy efficiency and reduce monthly bills.

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Duke Energy has been awarded the Edison Electric Institute (EEI) Emergency Response Award for its efforts during Hurricane Idalia. The award recognizes electric companies' recovery and assistance efforts following severe weather events. Hurricane Idalia, a Category 3 storm, impacted nearly 200,000 Duke Energy Florida customers on Aug. 30, 2023. Duke Energy's response included:

- Strategic placement of over 4,000 workers before the storm
- Restoration of power to >90% of affected customers within 24 hours
- Advanced forecasting and damage modeling
- Close coordination with emergency teams and other utilities

Scott Batson, Duke Energy's chief power grid officer, and Melissa Seixas, Duke Energy Florida state president, expressed pride in the company's response and collaboration efforts.

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Duke Energy's PowerPair pilot program in North Carolina has enrolled over 1,300 customers since its launch in May 2024. The program offers up to $9,000 in incentives for residential customers installing new solar plus battery systems. Participants can choose between a residential solar choice rider (RSC) or a net metering bridge rider (NMB), with NMB customers receiving additional monthly bill credits for allowing Duke Energy to adjust their battery settings periodically.

The program aims to make home solar plus battery systems more affordable and help manage low carbon grids. Duke Energy is exploring ways to enhance the pilot for customers unable to purchase systems upfront, potentially focusing on income-qualified customers, those dependent on medical devices, or non-residential customers. The company ranks fourth nationally in overall solar power, with about 45,000 customers generating 350 megawatts through solar panels.

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The Duke Energy Foundation has awarded $180,000 in emergency preparedness and resiliency grants to 13 organizations in Florida. This funding aims to equip Floridians and first responders with essential information and supplies for storm season and emergency events. The grants will support various initiatives, including storm kits for seniors, community education, and special equipment for first responders.

Duke Energy Florida state president Melissa Seixas emphasized the importance of year-round community resilience and preparedness. Since 2019, the Duke Energy Foundation has contributed over $1.7 million to support Florida's disaster preparedness. The company also encourages personal preparedness and offers tips on its website. Additionally, Duke Energy will donate $1 to the Red Cross for every Emergency app download through June 30, up to $20,000.

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Duke Energy's (NYSE:DUK) Green Source Advantage (GSA) program has secured a significant participant: the U.S. Department of Defense (DOD). This partnership will provide renewable energy to five major military installations across North and South Carolina. The program will deliver an estimated 135 megawatts and 4.8 million megawatt-hours of renewable energy over 15 years from two new solar facilities in South Carolina, set to be operational by Q4 2026.

This initiative aligns with Executive Order 14057, aiming for 100% carbon-free electricity for federal agencies by 2030. Duke Energy, leading the largest clean energy transformation in the U.S., currently operates over 5,100 MW of solar power in the Carolinas. The company is committed to achieving net-zero carbon emissions from electricity generation by 2050.

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Duke Energy Florida has reached a comprehensive agreement with consumer groups to increase reliability and advance clean energy in Florida. The agreement, subject to approval by the Florida Public Service Commission, includes base rate increases but is expected to result in an overall decrease in customer bills by January 2025. Key points include:

- Average annual 2% bill increase over three years
- Building 12 new solar plants (900 MW) between 2025-2027
- Grid modernization for improved reliability
- Support for vulnerable customers during extreme weather
- Projected 5% decrease in typical residential bills by January 2025

The agreement aims to balance investments in clean energy and grid improvements with customer affordability and support.

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Duke Energy (NYSE: DUK) has declared a quarterly cash dividend of $1.045 per share on its common stock, representing a $0.02 increase. The dividend is payable on Sept. 16, 2024, to shareholders of record as of Aug. 16, 2024. The company also announced dividends for its Series A and Series B preferred stocks. Duke Energy has maintained a 98-year streak of consecutive dividend payments on its common stock.

As a Fortune 150 company, Duke Energy serves 8.4 million electric customers and 1.7 million natural gas customers across multiple states. The company is committed to a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions from electricity generation by 2050.

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Duke Energy, in collaboration with Buncombe County, has announced the construction of a 5-megawatt (MW) solar facility on a closed landfill in Asheville, N.C. This project aligns with the county's goal to achieve 100% renewable energy by 2042. The innovative facility will repurpose 20-30 acres of unusable land and produce enough energy to power around 1,000 homes annually. The lease agreement compensates the county with renewable energy certificates (RECs) instead of cash. This initiative is a part of Duke Energy's Western Carolinas Modernization Plan, which aims to meet the region's power needs with clean energy. The project underscores creative solutions and community collaboration in advancing renewable energy goals.

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Duke Energy has shared energy-saving tips and financial assistance options for customers in the Carolinas as high temperatures approach. To reduce energy use and costs, Duke Energy advises customers to set thermostats to the highest comfortable setting, change air filters regularly, close curtains during sunny days, and use ceiling fans. The company also offers various programs such as the Power Manager and Flex Savings Option, which provide incentives and bill credits for participating. Additionally, Duke Energy provides payment assistance plans and free home energy assessments to help lower energy usage. Customers can track their energy use through the Duke Energy app. For more information, visit duke-energy.com/SummerSavings.

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The Florida State Parks Foundation has partnered with Duke Energy Florida and the Friends of Wakulla Springs State Park to unveil a new accessible playground at Edward Ball Wakulla Springs State Park. The playground, inspired by the park's iconic river tour boats, includes several accessible play elements and a wide path to accommodate mobility devices. The project, costing $72,204, was primarily funded by Duke Energy Florida with a $44,000 donation.

Additional contributions included $15,000 from the Friends of Wakulla Springs State Park and the remaining balance from the Foundation. This playground is part of a broader initiative by Duke Energy Florida, which has donated over $300,000 to state parks for various amenities. The new playground aims to provide inclusive recreational experiences for all visitors.

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FAQ

What services does Duke Energy provide?

Duke Energy provides electric and gas utilities, serving approximately 8.4 million electric customers and 1.7 million gas customers across multiple states.

What is Duke Energy's clean energy goal?

Duke Energy aims to achieve net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050.

What is the PowerPairSM program?

PowerPairSM is an incentive-based pilot program in North Carolina that offers up to $9,000 for residential customers to install home solar and battery systems.

What recent strategic initiatives has Duke Energy undertaken?

Recent initiatives include the PowerPairSM program, the sale of its stake in Pioneer Transmission LLC, and partnerships with Amazon, Google, Microsoft, and Nucor for clean energy projects.

Where is Duke Energy headquartered?

Duke Energy is headquartered in Charlotte, North Carolina.

How many customers does Duke Energy serve?

Duke Energy serves approximately 8.4 million electric customers and 1.7 million gas customers.

What is the company's approach to grid decarbonization?

Duke Energy's approach includes investing in renewable energy, energy storage, advanced nuclear technologies, and implementing innovative programs like Accelerating Clean Energy (ACE) tariffs.

What community initiatives does Duke Energy support?

Duke Energy supports local communities through substantial tax contributions, charitable donations via the Duke Energy Foundation, and employee-engaged community service.

What are the benefits of the Accelerating Clean Energy (ACE) tariffs?

ACE tariffs allow large companies to support carbon-free energy investments through innovative financing, contributing to lower costs of emerging clean energy technologies.

How does Duke Energy contribute to local economic development?

Duke Energy contributes to local economies through tax contributions, job creation, local investments, and support for charitable and community causes.

Duke Energy Corporation

NYSE:DUK

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