Duke Energy Corp Stock Price, News & Analysis

Duke Energy will establish a pioneering performance center for zero-emission electric vehicle (EV) fleets at its Mount Holly Technology and Innovation Center in North Carolina. The center will facilitate the development, testing, and deployment of commercial-grade EVs, incorporating microgrid integration to support electric fleet owners. Expected by the end of 2023, the site will offer a reliable charging experience, powered by either the grid or carbon-free resources. This unique facility aims to accelerate the transition to electric fleets, presenting economic benefits for North Carolina and showcasing innovative charging technologies through collaboration with Electrada and Daimler Truck North America.

Duke Energy has announced an expansion of its Green Source Advantage (GSA) program, providing customers the option for 100% renewable energy along with energy storage solutions. The proposal, filed with the North Carolina Utilities Commission, includes an increase in available capacity to 4,000 megawatts, allowing customers to meet their sustainability goals more effectively. Notably, customers can now contract for up to 100% of their energy needs, a significant increase from the previous cap of 30%. Additionally, a new program called Clean Energy Impact is introduced for residential customers, featuring flexible month-to-month contracts and local renewable energy options.

Duke Energy and Pasco-Hernando State College (PHSC) are collaborating during National Engineers Week (Feb 19-25) to promote engineering careers.

A recent $40,000 grant from the Duke Energy Foundation will assist 20 students in engineering and drafting programs, focusing on underrepresented communities.

This funding supports scholarships, industry certifications, and initiatives like a Cybersecurity Hackathon. Since 2017, Duke Energy has contributed over $190,000 to PHSC. The company aims for a cleaner energy future, with interim carbon emission targets and significant investments in energy technologies.

Duke Energy has assisted nearly 190,000 residential customers in 2022, distributing approximately $200 million to help them pay their energy bills during challenging economic times. Its proactive approach, initiated during the COVID-19 pandemic, involved collaboration with over 1,500 agencies, enabling the distribution of over $191 million to aid customers. In North Carolina alone, over $75 million was allocated to nearly 77,000 customers. Through ongoing outreach, Duke Energy aims to raise awareness of available assistance programs, reinforcing its commitment to community support and energy efficiency.

Duke Energy Sustainable Solutions has acquired Pike Solar, a new solar power plant near Colorado Springs, Colorado. This facility, featuring over 414,000 solar panels on approximately 1,310 acres, will generate 175 megawatts of electricity, enough to power about 46,300 homes. Under a 17-year agreement, Colorado Springs Utilities will purchase the electricity produced. The project is expected to provide substantial local economic benefits, including jobs and tax revenues for public schools. With this acquisition, DESS now has three solar projects in Colorado totaling 248 megawatts, reinforcing its commitment to sustainable energy solutions.

The Southeast Hydrogen Hub coalition received encouragement from the U.S. Department of Energy (DOE) to submit a funding application for regional clean hydrogen hubs under the $8 billion Infrastructure Investment and Jobs Act.

This coalition includes major utilities like Duke Energy and aims to enhance hydrogen production and utilization, which is pivotal for decarbonization efforts. They were one of 33 groups selected out of 79 proposals.

A decision on funding is expected in fall 2023, with significant economic and job growth anticipated in the Southeastern U.S.

The Public Service Commission of South Carolina has approved a comprehensive settlement agreement for Duke Energy Progress, impacting customer rates from April 1, 2023. Residential customers using 1,000 kWh monthly will see an increase of about $10.95, or 8.2%. Commercial and industrial customers will experience average hikes of 3.7% and 2.2%. The total increase amounts to approximately $52 million, significantly lower than the $89 million initially requested. The agreement also includes provisions for coal ash basin closure costs, grid modernization investments, and a return on equity set at 9.6% within a capital structure of 52.43% equity.

Duke Energy (NYSE: DUK) reported its fourth-quarter and full-year 2022 financial results on February 9, 2023. The comprehensive results are accessible on Duke's investor relations website. During an investor presentation held at 10 a.m. ET on the same day, executives, including CEO Lynn Good and CFO Brian Savoy, discussed the financial updates. Duke Energy serves 8.2 million electric customers across several states and is pursuing a net-zero carbon emissions commitment by 2050, alongside significant investments in clean energy technology and grid enhancements. The company was also recognized in Fortune's and Forbes' lists of admired companies.