Duke Energy Supports Florida Customers With $150,000 in Grants to Programs Aimed at Providing Stability
Duke Energy Foundation provides $150,000 in grants to support Florida organizations aiding individuals and families in need. Grants awarded to six organizations including City of Haines City, Habitat for Humanity, Heart of Florida United Way, Neighborhood Center of West Volusia, Pinellas County Urban League, and The Mustard Seed of Central Florida. Duke Energy's ongoing collaboration with Habitat for Humanity aims to build energy-efficient and sustainable communities, offering affordable homeownership opportunities. Duke Energy also provides various customer assistance programs such as Budget Billing and Installment Plans.
The $150,000 in grants from the Duke Energy Foundation to various organizations in Florida signifies a strategic move towards corporate social responsibility (CSR) and community engagement. This initiative can enhance the company's public image and potentially lead to a more favorable regulatory environment. Companies engaged in CSR can sometimes benefit from customer loyalty and enhanced brand value, which could indirectly affect the stock market performance of Duke Energy.
However, it's important to note that the grant amount is relatively small in the context of Duke Energy's overall financials. For investors, the direct financial impact of this news may be minimal compared to the company's earnings, cash flow and other financial metrics that typically drive stock performance. The long-term benefits, such as community goodwill and possibly reduced regulatory pressures, are more intangible and difficult to quantify.
The emphasis on energy efficiency and sustainability in the grants, particularly the support for Habitat for Humanity's efforts to build energy-efficient homes, aligns with the broader industry trend towards sustainable practices. This trend is driven by increasing consumer awareness and regulatory pressures regarding environmental impact.
By supporting energy-efficient housing, Duke Energy is positioning itself as a proactive player in the sustainability field, which could attract investors interested in companies with strong environmental, social and governance (ESG) profiles. ESG factors are becoming increasingly important in investment decisions and Duke Energy's actions may positively influence its ESG rating. While the immediate stock market impact may be limited, the company's commitment to sustainability could yield long-term benefits, including a more resilient brand and potentially lower operational costs due to energy savings.
From a financial perspective, the allocation of $150,000 in grants is a relatively small expenditure for Duke Energy and is unlikely to have a significant impact on its financial statements or stock price. However, investors often view CSR initiatives favorably, as they can improve a company's reputation and strengthen its relationships with customers and the community.
Furthermore, the initiative could potentially lead to operational synergies. For example, by promoting energy-efficient homes, Duke Energy may reduce the peak demand on its grid, leading to lower capital expenditure requirements in the long term. While these grants alone are not a strong buy or sell signal, they contribute to the narrative of a company investing in its community and sustainability, which could be a factor in an investor's overall analysis of the company's value proposition.
03/26/2024 - 09:15 AM
Funding will go to six organizations that help Florida individuals and families in need
ST. PETERSBURG, FL / ACCESSWIRE / March 26, 2024 / The Duke Energy Foundation is providing $150,000 in grants to support organizations in Florida that help customers with basic needs such as utility bill assistance, housing and more.
"When our neighbors need help, these are the organizations they turn to," said Melissa Seixas, Duke Energy Florida state president. "Whether it is with food, transportation or help making their homes more energy efficient, together, we can reach even more families and individuals and help them achieve financial stability."
Grants were awarded to the following organizations:
City of Haines City - $25,000 Habitat for Humanity of Pinellas and West Pasco - $30,000 Heart of Florida United Way - $40,000 Neighborhood Center of West Volusia - $15,000 Pinellas County Urban League - $30,000 The Mustard Seed of Central Florida - $10,000 Habitat for Humanity of Pinellas and West Pasco Counties brings community volunteers, corporate donors, civic organizations, and faith groups together to build affordable homes for low- to moderate-income families and individuals throughout Pinellas and Pasco counties.
"Habitat for Humanity of Pinellas and West Pasco Counties shares in Duke Energy's commitment to building more energy-efficient and sustainable communities," said Mike Sutton, Habitat Pinellas and West Pasco president and CEO. "Our ongoing collaboration enables us to offer hardworking families and individuals a hand up toward safe, energy-efficient and affordable homeownership."
Duke Energy also offers a number of tools and resources to help customers.
Some of the available programs include:
Budget Billing: Get predictable monthly bills regardless of your energy use or the weather, so it's easier to stay on budget. Plus, there are two convenient payment plans to choose from. Learn more at duke-energy.com/BudgetBilling .
Installment Plans/Payment Plans: Pay back balances over longer periods of time. Eligible customers can request flexible plans that give you more time to pay. Learn about the options at duke-energy.com/MoreTime .
Usage Alerts: Get more control over your electricity use and spending. If you have a smart meter, a mobile phone or an email, you'll automatically be enrolled to receive notifications midway through your billing period showing how much electricity you've used along with a projection of your monthly amount, in time to adjust. Learn more at duke-energy.com/UsageAlerts .
Pick Your Due Date: With Pick Your Due Date, you can choose the date you want your energy bills to be due each month. Learn more at duke-energy.com/PYDD .
Due Date Extension: If you know ahead of time that you will miss your due date, this payment option may be for you. Extend your payment due date by up to 10 business days to avoid late fees. Learn more at duke-energy.com/ExtendDueDate .
Flexible rate options: Manage your energy costs by shifting energy-intensive tasks to periods of low demand. Learn more about our time-of-use rate at duke-energy.com/TOU .
Free Home Assessment: Complete a free online home energy check to learn how to lower your bill and see if you qualify for rebates and free home energy kit. Get started at onlinehec.duke-energy.com/get-started .
EnergyWise® Home: Save on your electric bill by getting up to $141 in annual bill credits while helping your community reduce energy use during periods of high demand. Find out if you are eligible at duke-energy.com/EWHSavings .
Weatherization: This program is designed to help income-qualified customers save energy and reduce expenses through the installation of energy conservation measures in their homes. The program is available to single-family homes and multifamily units, both owners and renters with owner approval. Learn more at duke-energy.com/Weatherization .
Customer Assistance: Some customers may qualify for financial assistance from various government and nonprofit programs for utility bills and other household expenses.
To learn more about these programs, visit duke-energy.com/SeasonalBills or call the Customer Care number listed on your energy bill.
Duke Energy Florida
Duke Energy Foundation $30 million annually in philanthropic support to meet the needs of communities where Duke Energy customers live and work. The foundation is funded by Duke Energy shareholders.
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 50,000 megawatts of energy capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 27,600 people.
Duke Energy is executing an aggressive clean energy transition to achieve its goals of net-zero methane emissions from its natural gas business by 2030 and net-zero carbon emissions from electricity generation by 2050. The company has interim carbon emission targets of at least 50% reduction from electric generation by 2030, 50% for Scope 2 and certain Scope 3 upstream and downstream emissions by 2035, and 80% from electric generation by 2040. In addition, the company is investing in major electric grid enhancements and energy storage, and exploring zero-emission power generation technologies such as hydrogen and advanced nuclear.
Duke Energy was named to Fortune's 2023 "World's Most Admired Companies" list and Forbes' "World's Best Employers" list. More information is available at duke-energy.com . The Duke Energy News Center contains news releases, fact sheets, photos and videos. Duke Energy's illumination features stories about people, innovations, community topics and environmental issues. Follow Duke Energy on Twitter , LinkedIn , Instagram and Facebook .
Media contact: Audrey Stasko
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SOURCE: Duke Energy
press release on accesswire.com
What is the total amount of grants provided by Duke Energy Foundation?
Duke Energy Foundation is providing $150,000 in grants to support organizations in Florida.
Which organizations received grants from Duke Energy Foundation?
Grants were awarded to City of Haines City, Habitat for Humanity of Pinellas and West Pasco, Heart of Florida United Way, Neighborhood Center of West Volusia, Pinellas County Urban League, and The Mustard Seed of Central Florida.
What is the focus of the grants provided by Duke Energy Foundation?
The grants aim to support organizations helping individuals and families with basic needs such as utility bill assistance, housing, and more.
What collaboration does Duke Energy have with Habitat for Humanity?
Duke Energy collaborates with Habitat for Humanity to build energy-efficient and sustainable communities, providing affordable homeownership opportunities.
What customer assistance programs does Duke Energy offer?
Duke Energy offers programs like Budget Billing and Installment Plans to help customers manage their energy bills effectively.
