Welcome to our dedicated page for Duke Energy news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy stock.
Duke Energy Corporation (NYSE: DUK) generates a steady stream of news as a Fortune 150 energy holding company with major regulated electric and natural gas utilities. This page aggregates coverage of Duke Energy’s announcements, allowing readers to follow developments affecting its multi-state operations in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, as well as its natural gas utilities in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.
News about Duke Energy frequently highlights investments in electric grid upgrades, cleaner generation and customer affordability. Recent company communications describe targeted infrastructure projects in Florida that expand solar capacity, upgrade natural gas power plants, harden the grid against storms and deploy self-healing technology, with reported savings of more than $1 billion in energy costs for customers. Other updates detail changes to storm cost recovery charges and bill impacts in response to hurricanes and regulatory decisions in the Carolinas and Florida.
Investors and observers can also track Duke Energy’s progress on the energy transition through news on nuclear and advanced technologies. Examples include the DeBary Hydrogen Production Storage System in Florida, capable of producing, storing and using green hydrogen, and large battery energy storage systems at former coal plant sites in the Carolinas. Regulatory and financial news items cover rate cases, performance-based regulation proposals, production tax credit mechanisms, and scheduled earnings releases and conference calls.
Community and philanthropic initiatives are another recurring news theme, such as America250 grants from the Duke Energy Foundation and employee-driven community investments. By following Duke Energy news, readers can monitor operational decisions, regulatory outcomes, infrastructure projects, customer programs and community support efforts that shape the company’s role in the U.S. utilities sector.
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.
Duke Energy (NYSE: DUK) announced a quarterly cash dividend on its common stock of $1.025 per share and a quarterly cash dividend on its Series A preferred stock of $359.375 per share. The dividends are payable on June 17, 2024, to shareholders of record on May 17, 2024. Duke Energy has a history of paying cash dividends on its common stock for 98 consecutive years. The company is focused on a clean energy transition, aiming for net-zero methane emissions by 2030 and net-zero carbon emissions from electricity generation by 2050.
Duke Energy has restored power to over 180,000 customers affected by severe storms in the Carolinas. Majority of customers expected to have power back by tonight, with some areas to be restored by Friday. Safety tips provided for dealing with power outages. Customers can receive outage alerts and report outages through various channels.
Duke Energy Florida has received approval to lower rates for the second time this year, with new rates effective in June 2024, resulting in a nearly $6 decrease in a typical residential customer bill. This adds to the over $11 monthly reduction that took effect in January 2024, benefiting both residential and commercial customers. Duke Energy is committed to providing reliable, clean power while passing on savings to its customers.
Duke Energy has reported its first-quarter 2024 financial results, showcasing its commitment to a clean energy transition with ambitious goals for net-zero methane and carbon emissions. The company's leadership team will discuss the results and updates during an investor presentation, emphasizing continued investment in grid upgrades, renewables, and cleaner generation.
Duke Energy celebrates National Lineworker Appreciation Day, highlighting the important role lineworkers play in ensuring safe and reliable power for communities. The company has invested nearly $4 million in strengthening its lineworker talent pipeline. Lineworkers face challenging conditions, undergo rigorous training, and prioritize safety above all else. They also contribute to power grid improvement projects, helping modernize and strengthen Duke Energy's system. The company continues to hire diverse, skilled candidates to address growing energy needs and make grid upgrades for the future.
Duke Energy Foundation awarded $500,000 in grants to North Carolina nonprofits for environmental resiliency. 18 organizations received grants to boost environmental justice and climate resiliency. Duke Energy employees and retirees volunteered in April for environmental programs. Duke Energy is committed to clean energy transition, investing in resilience and philanthropy.
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