Duke Energy urges Florida customers to reduce electric usage

Rhea-AI Summary

Duke Energy (NYSE: DUK) asked Florida customers to voluntarily reduce electricity use from 5 to 9 a.m. EST on Feb. 2, 2026 due to extremely cold temperatures driving unusually high demand.

Recommended actions include lowering thermostats, avoiding major appliances during the window, turning off unused devices, and charging EVs midday. Duke Energy Florida serves about 2 million customers and owns 12,300 MW of capacity.

Key Figures

Florida capacity: 12,300 megawatts Florida customers: 2 million customers Florida service area: 13,000-square-mile +5 more

8 metrics

Florida capacity 12,300 megawatts Duke Energy Florida owned energy capacity

Florida customers 2 million customers Residential, commercial and industrial customers in Florida

Florida service area 13,000-square-mile Duke Energy Florida service territory

Electric customers 8.4 million customers Electric utilities across six U.S. states

Electric capacity 54,800 megawatts Collective energy capacity of electric utilities

Gas customers 1.7 million customers Natural gas utilities across five states

Demand reduction window start 5 a.m. EST Requested start time to reduce usage on Feb. 2, 2026

Demand reduction window end 9 a.m. EST Requested end time to reduce usage on Feb. 2, 2026

Market Reality Check

Price: $128.20 Vol: Volume 5,142,855 vs 20-da...

normal vol

$128.20 Last Close

Volume Volume 5,142,855 vs 20-day average 3,968,622 (relative volume 1.3x) ahead of this operational update. normal

Technical Shares at 121.35, trading slightly above the 200-day MA of 120.38 prior to this announcement.

Peers on Argus

Before this news, DUK was up 0.38%. Most large regulated peers were also positiv...

Before this news, DUK was up 0.38%. Most large regulated peers were also positive (SO 0.42%, AEP 0.64%, EXC 1.04%, NGG 0.06%), while D declined 1.13%, indicating a mixed but generally constructive utilities tape rather than a clearly unified sector move.

Historical Context

5 past events · Latest: Jan 29 (Neutral)

5 events

Date	Event	Sentiment	Move	Catalyst
Jan 29	Cold-weather bill support	Neutral	+0.5%	Guidance on managing higher heating use and bills during prolonged cold.
Jan 26	Storm restoration update	Neutral	+1.1%	Update on power restoration for 131,059 Carolinas customers after Winter Storm Fern.
Jan 25	Outage impact report	Neutral	+1.1%	Report on widespread Carolinas outages and staged storm personnel during Fern.
Jan 23	Storm prep mobilization	Neutral	-0.2%	Mobilization of 18,000+ workers across 22 basecamps ahead of Winter Storm Fern.
Jan 22	Customer storm warning	Neutral	-1.4%	Advisory to Carolinas customers on preparing for potential multiday outages.

Recent Company History

Recent news for Duke Energy has focused on winter weather operations and customer support. Over Jan. 22–29, 2026, the company highlighted preparations for Winter Storm Fern, mobilizing over 18,000 workers and staging 22 basecamps, then reported outages and restoration progress, followed by customer billing and energy‑saving guidance. Today’s Florida-focused request to reduce usage during a cold spell continues this pattern of operational communication around extreme weather and demand management.

Regulatory & Risk Context

Active S-3 Shelf · $4,000,000,000

Shelf Active

Active S-3 Shelf Registration 2025-09-30

$4,000,000,000 registered capacity

Duke Energy has an effective S-3ASR shelf dated 2025-09-30 for PremierNotes, covering up to $4,000,000,000 aggregate offering price with a maximum net aggregate principal amount of $2,000,000,000 outstanding at any time. The filing is effective through 2028-09-30 and has been used at least once, with a 424B3 on 2025-12-22 updating PremierNotes interest rates.

Market Pulse Summary

This announcement highlights Duke Energy Florida’s response to the coldest air since 2018 by asking ...

Analysis

This announcement highlights Duke Energy Florida’s response to the coldest air since 2018 by asking customers to voluntarily lower usage from 5–9 a.m. on Feb. 2, 2026 to protect the grid. It follows a series of winter-weather communications about preparation, outages and restoration. Investors may monitor how often such demand-management actions occur, how effectively they maintain reliability across the 12,300-megawatt Florida system, and how they interact with longer-term grid and generation investments.

Key Terms

electric grid, megawatts, energy storage

3 terms

electric grid technical

"This is due to extremely cold temperatures that are driving unusually high demand for electricity across the southeast. It is meant to help protect the grid and keep electricity flowing..."

The electric grid is the large, interconnected system of power plants, wires, substations and control centers that generate electricity and deliver it to homes, factories and businesses. Investors care because the grid’s capacity, reliability and cost influence energy companies’ revenues, utility bills, and the ability of industries to operate; think of it like a highway network whose condition and congestion directly affect delivery speed, costs and economic activity.

megawatts technical

"Duke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity..."

A megawatt is a measure of electrical power equal to one million watts, describing how much electricity a plant or device can generate or use at a single moment. Investors use megawatts to compare the size and earning potential of energy projects—larger capacity usually means more electricity to sell—much like comparing the horsepower of engines to judge how much work they can do. Knowing megawatts helps assess scale, revenue potential, and grid impact of energy assets.

energy storage technical

"The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage."

Energy storage involves capturing and holding excess energy produced during periods of low demand for later use when demand is higher. Think of it like a rechargeable battery that saves power for when it’s needed most. For investors, energy storage is important because it helps balance supply and demand, making energy systems more reliable and efficient, which can influence the value of energy-related assets and technologies.

AI-generated analysis. Not financial advice.

ST. PETERSBURG, Fla., Feb. 1, 2026 /PRNewswire/ -- As Florida continues to experience the coldest air in the state since 2018, Duke Energy is asking all customers to voluntarily reduce their energy use from 5 to 9 a.m. EST on Monday, Feb. 2, 2026.

This is due to extremely cold temperatures that are driving unusually high demand for electricity across the southeast. It is meant to help protect the grid and keep electricity flowing for as many customers as possible.

Below are ways customers can lower their energy use:

• Reduce your thermostat to the lowest comfortable setting. The closer you match your thermostat to outdoor temperatures, the less energy you use.
• Avoid using appliances such as washing machines, dryers and dishwashers between 5 and 9 a.m. on Monday, Feb. 2, 2026.
• Turn off any unnecessary devices, unused plug-ins and lights.
• Electric vehicles owners: charge midday when demand is lower.

"We know power is an essential part of our customers' everyday lives, and we recognize that reducing electricity usage isn't an easy ask," said Melissa Seixas, Duke Energy Florida state president. "We appreciate our customers' cooperation and understanding as we work to continue providing safe, reliable service for our more than 2 million customers during this cold spell."

Duke Energy Florida
Duke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida. 

Duke Energy 
Duke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. 

Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage. 

More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition. 

Contact: Ana Gibbs
24-Hour: 800.559.3853
Cell: 813.928.7263

View original content to download multimedia:https://www.prnewswire.com/news-releases/duke-energy-urges-florida-customers-to-reduce-electric-usage-302675776.html

SOURCE Duke Energy

FAQ

Why is Duke Energy (DUK) asking Florida customers to reduce usage on Feb. 2, 2026?

Duke Energy asked for reduced usage because extremely cold temperatures increased electricity demand. According to the company, the request for voluntary conservation from 5 to 9 a.m. EST aims to protect the grid and help keep power flowing for as many customers as possible.

What specific actions should Duke Energy (DUK) customers in Florida take during 5–9 a.m. on Feb. 2?

Customers should lower thermostats and avoid running washers, dryers, and dishwashers during the 5–9 a.m. window. According to the company, also turn off unnecessary devices and lights and schedule EV charging midday when system demand is lower.

How many Florida customers does Duke Energy (DUK) serve and what capacity does it own?

Duke Energy Florida serves about 2 million customers and owns 12,300 megawatts of capacity. According to the company, this capacity supports service across a 13,000-square-mile area in Florida during high-demand periods.

Will reducing usage during Duke Energy's (DUK) request affect my electric bill?

Voluntary short-term reductions during peak hours may modestly lower near-term energy consumption but won't immediately change rates. According to the company, the request is aimed at grid reliability rather than billing changes, though reduced usage can slightly reduce usage-based charges.

How does Duke Energy (DUK) justify asking customers to conserve instead of implementing outages?

The company frames voluntary conservation as a way to avoid forced outages and protect system reliability during peak demand. According to Duke Energy, customer cooperation helps maintain continuous service for the largest number of customers during extreme weather events.