Duke Energy Corp Stock Price, News & Analysis

The Duke Energy Foundation has announced a grant program worth $700,000 to enhance disaster preparedness for North Carolina communities. Eligible nonprofits can apply for grants up to $25,000 until July 12, with the registration deadline on June 28. The grants aim to foster collaboration among agencies, provide training and equipment, and improve emergency communications and outcomes for under-resourced communities. Since 2019, the Foundation has awarded $2.4 million for disaster preparedness. Duke Energy, a Fortune 150 company, is committed to a clean energy transition and serves 8.4 million electric and 1.7 million natural gas customers across six states.

Duke Energy Florida, in partnership with the Florida Council on Aging, has announced a $70,000 donation to Jefferson Senior Citizens Center in Monticello, Florida, to aid in storm recovery efforts. Severe storms in April damaged the facility, displacing nearly 50 seniors who rely on its services. The donation aims to assist in renovating the building, ensuring its safe reopening. The center provides critical services such as hot meals, utility bill assistance, and social activities. Duke Energy Florida's president emphasized the company's commitment to supporting vulnerable communities. This move underscores Duke Energy's broader commitment to community support and clean energy initiatives.

Duke Energy announced a $500,000 grant program through its Duke Energy Foundation to support emergency preparedness in South Carolina. These grants will be distributed among 33 nonprofits and government agencies, funding vital resources like training, life-saving equipment, and new technology. The initiative aims to enhance community resilience and assist residents in preparing for and recovering from severe weather events. Specific uses of the grants include increasing sheltering capabilities and acquiring pet sheltering kits, advanced response technology, and communication tools for emergency situations.

Mike Callahan, Duke Energy's South Carolina president, emphasized the importance of equipping first responders to maintain a resilient South Carolina. Recipients expressed gratitude, highlighting the impact these grants will have on their disaster response capabilities. The Duke Energy Foundation annually provides over $30 million in philanthropic support, funded by Duke Energy shareholders.

Duke Energy (NYSE: DUK), Amazon, Google, Microsoft, and Nucor announced agreements to explore innovative approaches to support carbon-free energy generation. Revealed at the White House Summit on Domestic Nuclear Deployment, the MOUs propose developing new rate structures, called ACE tariffs, to lower the long-term costs of clean energy investments. These tariffs aim to facilitate on-site energy generation, load flexibility programs, and investments in clean energy assets. The Clean Transition Tariff (CTT) would further enable individualized clean energy portfolios for large commercial and industrial customers. These initiatives are voluntary and require regulatory approvals in North and South Carolina.

Duke Energy Foundation announced a $100,000 grant to enhance the American Red Cross Emergency app. The upgraded app aims to assist Spanish speakers, individuals with disabilities, and adults aged 65+ by improving accessibility, language support, and user experience.

To promote downloads, the Foundation will donate $1 to the Red Cross for every app download until June 30, up to $20,000. This move coincides with the 2024 Atlantic hurricane season starting June 1. The app provides features like weather alerts, shelter maps, and preparedness tips in English and Spanish.

Duke Energy has a history of supporting disaster relief, contributing nearly $2.7 million over eight years to the Red Cross. The Foundation aims to build resilient communities and will continue disaster preparedness and recovery efforts throughout 2024.

Duke Energy (NYSE: DUK) is advancing its energy transition, emphasizing reliability and affordability amidst regulatory and policy achievements in 2023.

CEO Lynn Good highlighted strategic milestones including the sale of its commercial renewables business, which repositions Duke as a fully regulated company, and the addition of 195,000 new customers. Key rate case outcomes in multiple states support $45 billion in rate base investments. The company's updated Carolinas Resource Plan outlines a 15-year roadmap for growth.

Duke Energy plans significant grid updates and emergent technologies like a solar-to-100% hydrogen fueled turbine by year-end. Operational excellence includes a 96% nuclear fleet capacity factor and record safety performance in 2023.

Shareholders elected all 14 board nominees, while two nonbinding proposals did not pass. A replay of the meeting will be available on the company’s investor page.

Duke Energy Carolinas has reached an agreement with multiple stakeholders on its rate review request in South Carolina, which was filed in January 2024. The settlement proposes a rate increase of $240 million, about 26% less than the initial $323 million requested. The net increase will be around $156 million after accounting for $84 million in deferred tax benefits, effective until July 31, 2026.

If approved, residential customers using 1,000 kilowatt hours will see a monthly increase of $12.53 starting August 1, 2024, with an additional increase of $6.42 from August 1, 2026. The agreement includes recovery of investments in various energy units and grid improvements, with a return on equity of 9.94%. Furthermore, Duke Energy will invest $2 million in low-income assistance and weatherization programs. The Public Service Commission of South Carolina will review the agreement starting May 20, 2024.

Duke Energy is funding a $100,000 grant to enhance the American Red Cross Emergency app, improving accessibility for Spanish speakers, people with disabilities, and older adults. The upgraded app, available in English and Spanish, features user-friendly updates and gamified disaster alerts. Duke Energy will also donate $1 per app download, up to $20,000, until June 30. This initiative aligns with their commitment to aiding communities during natural disasters, particularly as the 2024 Atlantic hurricane season approaches. Over the past eight years, Duke Energy has donated nearly $2.7 million to the Red Cross.

Duke Energy, a Fortune 150 company, highlighted key achievements in 2023 during its annual shareholders meeting. The company successfully completed portfolio repositioning, added a record number of new customers, and secured regulatory approvals for significant investments. Duke Energy is focused on grid modernization and pursuing emerging technologies to reach climate goals. Operational excellence and safety are core priorities, with notable performance across the organization. Shareholders elected the Board of Directors and discussed key proposals at the meeting.