Duke Energy Corp Stock Price, News & Analysis

Duke Energy announced the installation of three public art pieces at its new headquarters in Charlotte, North Carolina. This project, aimed at reflecting the company's clean energy mission and the city's vibrant history, will begin this month. Featured artists include Ivan Toth Depeña, who will create illuminated sculptures at the plaza's entrance, and Olalekan Jeyifous, whose mural will honor the history of the former Brooklyn neighborhood. An immersive installation by Luftwerk will be showcased in the Experience Hall. The installations seek to foster community connection and celebrate cultural identity.

Duke Energy celebrates the graduation of its first class from the lineworker program at Denmark Technical College, aimed at enhancing diversity in the utility workforce. This initiative aligns with the company's mission to recruit more diverse talent, addressing the industry's significant demographic disparities, where 84% of utility workers are white and 77% are male. The program, supported by a grant from the Duke Energy Foundation, equips students with essential skills for utility careers. Founder James Bowden emphasizes the importance of mentorship and opportunities for people of color in the energy sector.

Duke Energy has launched a cutting-edge green microgrid in Hot Springs, North Carolina, equipped with a 2-megawatt solar facility and a 4.4-megawatt lithium-based battery storage system. This microgrid serves as a reliable energy source for the town during outages, capable of powering the entire community independently. It enhances grid reliability through services like voltage regulation and capacity support. The technology partner for this project is Wärtsilä, which provided the energy management system. Duke Energy aims to expand similar initiatives across its regulated areas, contributing to its clean energy transition goals.

Piedmont Natural Gas announced a rate reduction approved by the North Carolina Utilities Commission and the Public Service Commission of South Carolina, effective from February 2023. This decision allows the average residential customer in North Carolina to save approximately $14 monthly, totaling $170 annually, and in South Carolina, to save around $10 monthly, or $116 yearly. Winter bills may see even larger reductions, with North Carolina customers potentially saving up to $27 monthly. The company emphasizes its commitment to keeping costs low amidst fluctuating natural gas prices.

Duke Energy has actively participated in the annual United Nations Climate Change Conference (COP) for two years, emphasizing its commitment to achieving net-zero emissions. At COP27, Duke Energy highlighted the importance of the private sector in meeting climate goals and shared insights on how the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA) will support its initiatives. The company plans to invest $145 billion over the next decade to enhance energy infrastructure, which will foster economic development and job creation in its service areas. Duke Energy is committed to balancing affordability and reliability while transitioning to cleaner energy.

Duke Energy (NYSE: DUK) has announced an expansion of its Green Source Advantage (GSA) program, enhancing customer access to 100% renewable energy and energy storage solutions. The revised program will enable customers to contract for up to 4,000 megawatts, more than tenfold the current capacity, allowing for continuous clean energy use. Customers can now secure renewable energy to meet their sustainability goals and work directly with Duke Energy or independent developers. Additionally, the Clean Energy Impact program will offer month-to-month contracts for residential customers, supporting local renewable initiatives without long-term commitments.

Duke Energy Florida is launching the Neighborhood Energy Saver program in Volusia County, providing energy-efficient upgrades to over 1,700 income-eligible customers from February to April 2023. The program aims to help single-family homeowners save up to $315 annually, while apartment residents can save around $150. Customers will receive complimentary energy improvements, including insulation and AC maintenance, to lower their energy costs. Since 2006, the program has benefited more than 43,000 customers in Florida, yielding nearly $1.25 billion in savings. An event will be held on January 30 to inform eligible residents.

Duke Energy announced its response to the North Carolina Utilities Commission's (NCUC) recent order on its carbon plan, required by state law. The NCUC's decision mandates Duke Energy to refresh its modeling and submit a new proposal by September 1, 2023, factoring in the Inflation Reduction Act and other legislative changes. The company aims to promote a clean energy transition, having already retired two-thirds of its coal plants and achieved a 40% reduction in emissions since 2005. The updated carbon plan will be integrated into their resource planning for South Carolina in August 2023.