Duke Energy Corp Stock Price, News & Analysis

Duke Energy is actively investing in community college programs to develop a new generation of skilled lineworkers, addressing the increasing demand for these roles. Harrison Cochran, a former Navy welder, transitioned to a stable career at Duke Energy through Cape Fear Community College's (CFCC) electrical lineworker training program. The program, partially funded by a $200,000 grant from Duke Energy Foundation in 2018, has graduated nearly 900 students to date, contributing to 41% of Duke Energy's entry-level apprentice lineworker hires in 2023. This initiative supports the company's need for highly skilled workers as the existing workforce approaches retirement. Industry experts highlight the program's success due to the quality training provided and Duke Energy's reputation, attracting motivated students like Cochran.

Duke Energy is swiftly progressing in restoring power after recent storms, with 91,886 of the 113,327 affected customers now back in service. Significant efforts are focused on Bloomington and Terre Haute, with an estimated majority of Terre Haute customers expected to have power by 6 p.m. Thursday, and Bloomington by midnight. The restoration workforce includes 1,170 personnel, with support from Ohio and Kentucky. Duke Energy prioritizes restoring large power lines and essential services, such as hospitals and water facilities. Duke Energy Indiana services approximately 900,000 customers and provides around 6,300 megawatts of electric capacity.

Duke Energy has restored power to over 43,000 customers in Indiana affected by a supercell storm, which initially caused outages for more than 95,000 customers. Around 52,000 customers remain without power as of 11 a.m. on June 26, 2024. High winds, especially in Bloomington and Terre Haute, caused significant damage. Duke Energy has mobilized over 730 additional workers to assist in the restoration efforts, prioritizing essential services and large power lines to restore power to the maximum number of customers quickly and safely. Customers can report outages via Duke Energy's website, mobile app, text, or phone.

Safety tips include avoiding downed power lines and remaining in vehicles if a power line falls on them unless immediate evacuation is necessary. More storm safety information is available on Duke Energy's website.

Duke Energy is advancing its renewable energy efforts through its Distributed Generation (DG) team, established in 2018. This team focuses on connecting new renewable energy projects to the grid, mitigating logistics challenges and enhancing grid reliability. The DG team has streamlined the interconnection process by studying projects in clusters, significantly reducing wait times. This initiative supports Duke Energy's goal of transitioning to cleaner energy sources and retiring coal-fired facilities. Their work includes implementing advanced microgrids and battery storage solutions, aiming for net-zero carbon emissions by 2050.

The Duke Energy Foundation, funded by Duke Energy shareholders, has awarded $180,000 in emergency preparedness and resiliency grants to 13 organizations in Florida. This initiative aims to equip Floridians and first responders with necessary information and supplies for storm season. Allocations include $25,000 each to the Area Agency on Aging of Pasco-Pinellas, Florida Housing Coalition, and Florida Professional Firefighters Association, among others. Duke Energy emphasizes the importance of year-round community preparedness and has supported Florida's disaster readiness with over $1.7 million since 2019. The Foundation encourages personal preparedness through resources like the Red Cross Emergency app.

On June 24, 2024, Coastal Conservation Association Florida (CCA Florida), alongside Duke Energy, Florida Fish and Wildlife Conservation Commission (FWC), and the University of Florida (UF) Whitney Lab, advanced the Indian River Lagoon (IRL) Billion Clam Initiative by deploying 2 million clams using patented drone technology. This innovative method aims to restore the IRL's ecosystem by planting clams at specific locations and densities, accelerating their maturation and overcoming predation pressures.

Since 2017, the initiative has planted 40 million clams, and in October 2023, CCA Florida and Duke Energy donated $100,000 to support the project. The effort is expected to improve water quality and clarity by utilizing clams' natural filtering abilities, which in turn supports the growth of essential seagrasses. Duke Energy's Crystal River Mariculture Center has also contributed significantly, releasing nearly 5 million fish and crustaceans and donating $200,000 worth of aquatic vegetation for various habitat restoration projects across Florida.

Duke Energy announced $500,000 in grants through its Emergency Preparedness and Storm Resiliency Grant Program to support 33 nonprofits and government agencies in South Carolina. These grants will fund training, life-saving equipment, and new technology to enhance disaster planning and recovery operations. The initiative aims to strengthen community preparedness and resilience against severe weather events. Each organization could receive up to $20,000, and the funds will help improve sheltering capabilities, purchase emergency response tools, and enhance communication during power losses.

This philanthropic effort is part of Duke Energy's broader mission to support the communities it serves, which includes significant investments in cleaner energy and grid upgrades. Duke Energy, a leading energy holding company, serves millions of customers across several states and is committed to achieving net-zero emissions by 2050.

The Duke Energy Foundation is offering $700,000 in grants to North Carolina nonprofits for natural disaster preparedness. Eligible organizations can apply for up to $25,000 now through July 12, with a registration deadline of June 28. Projects eligible for funding include local disaster preparedness initiatives, storm preparedness training, emergency communication tools, and specialized training for first responders. Since 2019, the Foundation has awarded nearly $2.4 million in similar grants. Duke Energy serves 8.4 million electric and 1.7 million natural gas customers across several states and is committed to achieving net-zero carbon emissions by 2050.

The Department of Defense (DOD) has joined Duke Energy's (NYSE: DUK) Green Source Advantage (GSA) program, committing to provide renewable energy for its five largest military installations in North and South Carolina. The agreement will deliver an estimated 135 megawatts and approximately 4.8 million megawatt-hours of renewable energy over 15 years through two new solar facilities in South Carolina, managed by energyRe. These projects are expected to be operational by Q4 2026. This initiative supports the DOD's decarbonization targets under Executive Order 14057, aiming for 100% carbon-free electricity by 2030. Duke Energy's GSA program helps large nonresidential customers offset power purchases with renewable energy sources. Other GSA participants include the City of Charlotte, Bank of America, and Duke University. Duke Energy, a Fortune 150 company, serves 8.4 million electric customers and 1.7 million gas customers across several states, focusing on a clean energy transition to achieve net-zero carbon emissions by 2050.