Duke Energy (DUK) Stock News

Duke Energy (NYSE: DUK) has announced key leadership appointments effective July 1, with Pepper Natonski promoted to senior vice president of federal affairs, policy and sustainability, and Tom Craig elevated to vice president of federal affairs. Natonski, who joined Duke Energy a decade ago, brings extensive experience in delivering federal policy outcomes and has strong community connections across Duke's service territory. Craig, with over 10 years at Duke Energy, will lead the company's federal public policy strategy and represent Duke before Congress and federal agencies. These appointments come as Duke Energy, serving 8.6 million electric customers and 1.7 million natural gas customers across multiple states, executes its energy transition strategy focusing on grid upgrades and cleaner generation.

Duke Energy Indiana has reached a settlement with Reliable Energy Inc. regarding its proposed natural gas plant at the Cayuga Generating Station. The agreement includes conducting an engineering study to evaluate the potential sale of existing coal units to third parties after the new gas units become operational in 2029 and 2030. The settlement aligns with Indiana Governor Mike Braun's executive orders on coal unit evaluation and power supply expansion. Duke Energy Indiana will maintain its construction schedule and cost estimates for the new gas units while exploring the feasibility of continued coal unit operation by potential buyers. The company currently provides 6,300 megawatts of owned electric capacity to about 920,000 customers across a 23,000-square-mile service area in Indiana.

Duke Energy Progress (DUK) has filed its first rate review request since 2022 with South Carolina regulators, seeking a $74.8 million revenue increase, representing a 12.1% increase over current revenues. If approved, residential customers using 1,000 kWh monthly will see bills rise by $21.66, from $144.85 to $166.51, effective February 1, 2026. Commercial customers face a 12.8% increase, while industrial customers will see a 3.6% increase. The rate adjustment aims to support grid strengthening, storm readiness improvements, and generating fleet maintenance for Duke's 177,000 South Carolina customers. The company highlighted the effectiveness of its grid investments during Hurricane Helene, where smart technology automatically restored over 10,000 outages and saved 28,000 hours of total outage time.

Duke Energy (DUK) has announced plans to submit an application to build a new 1,400-megawatt natural gas power plant in Anderson County, South Carolina. The facility, planned on a 200-acre site along Highway 81 South, aims to serve the company's 860,000 retail electric customers across 30 South Carolina counties. The project will utilize GE Vernova's natural gas turbines manufactured in Greenville, S.C. Construction is expected to begin in summer 2027, with operations starting by early 2031. The innovative design reduces water consumption, and the facility will leverage existing transmission infrastructure. This initiative aligns with the company's approved Carolinas Resource Plan and responds to South Carolina's growing energy demands driven by economic development and population growth.

Duke Energy Foundation has announced $500,000 in storm preparedness funding through its HERO grants program, supporting 20 emergency response organizations across North Carolina. Each organization will receive $25,000 to enhance their severe weather preparedness capabilities. This initiative comes as part of Duke Energy's broader commitment to community resilience, having provided over $1.8 million in grant funding to more than 100 local emergency response organizations over the past five years. The grants will support essential emergency preparedness equipment and first responder training, particularly crucial given the prediction of another heightened storm season. Recipients include various government agencies and nonprofits across the state, from coastal areas like Pender County to mountain regions like Buncombe County.

Duke Energy (DUK) has allocated $200,000 to its Share the Light Fund to assist low-income Indiana customers with summer energy costs. Working with the Indiana Community Action Association, the program offers up to $300 per qualifying customer for energy bills, deposits, and connection charges. Over the past five years, Duke Energy's fund has provided over $4 million in assistance, helping nearly 15,000 Indiana households. The company also offers various energy management tools including Usage Alerts, free Home Energy House Calls, and flexible payment plans. Duke Energy Indiana serves approximately 910,000 customers across a 23,000-square-mile service area with 6,300 megawatts of owned electric capacity.

Duke Energy Foundation is providing $500,000 in grants through its 2025 HERO Grant Program to support severe weather emergency preparedness across South Carolina. The program will distribute grants up to $20,000 each to 38 nonprofits and government agencies for training, life-saving equipment, and innovative technology. This marks the fourth year of the annual microgrant program, bringing total support to $2 million since its inception. The initiative comes in response to Hurricane Helene's historic impact on South Carolina, helping local governments and first responders enhance their disaster planning and recovery operations. Notable recipients include the North Spartanburg Firefighters Foundation for drone equipment, Florence Fire Department for a vehicle repeater system, and the South Carolina EMS Association for coordinated medical response improvements.

Duke Energy (NYSE: DUK) has announced its first-quarter 2025 financial results, which are available on the company's website. CEO Harry Sideris and CFO Brian Savoy will discuss the results and business updates in an investor presentation on May 6, 2025, at 10 a.m. ET.

Duke Energy, a Fortune 150 company, serves 8.6 million electric utility customers across six states and 1.7 million natural gas customers across five states. The company owns 55,100 megawatts of energy capacity and is focused on an energy transition strategy that includes grid upgrades and investments in cleaner generation sources including natural gas, nuclear, renewables, and energy storage.

Duke Energy (NYSE: DUK) announced several key leadership changes following the planned retirement of Julie Janson, EVP and CEO of Duke Energy Carolinas, effective July 1, 2025. After 37 years with the company, Janson will step down from her role overseeing Duke Energy Carolinas and the Natural Gas Business Unit. The company announced three major appointments: Kodwo Ghartey-Tagoe will succeed Janson as EVP and CEO of Duke Energy Carolinas, Alex Glenn will become EVP and chief legal officer, and Louis Renjel will take over as EVP and CEO of Duke Energy Florida and Midwest while maintaining his role as chief corporate affairs officer. Additionally, Cameron McDonald will join the senior management committee, and David Maltz will add corporate secretary to his responsibilities.