Duke Energy Corp Stock Price, News & Analysis

Duke Energy (NYSE: DUK) will host its annual shareholders meeting online on May 4, 2023, at 1 p.m. ET. CEO Lynn Good will share an overview of the company's 2022 performance and future strategies. Shareholders can participate, vote on proposals, and submit questions, with responses provided during or after the meeting. Access information is available in the proxy statement. Duke Energy serves 8.2 million electric customers across several states, operates 50,000 megawatts of energy capacity, and aims for net-zero carbon emissions by 2050. The company has received recognition on Fortune's and Forbes' 2023 lists of admired companies and best employers.

Duke Energy announced the enhancement of the Catawba River in Great Falls, South Carolina, in a project expected to boost local tourism and economic development. The initiative includes new whitewater runs, recreational access areas, and improved aquatic habitats. With the capacity to generate 799 megawatts of electricity—enough to power over 639,000 homes—this project aligns with Duke Energy's commitment to carbon-free electricity. The enhancements feature a 2.25-mile river channel, safety features for users, and ongoing improvements like new canoe/kayak launches and fishing platforms. This collaborative effort aims to revive the economically depressed town, further supported by positive community feedback and the expansion of local businesses.

Duke Energy has completed two solar projects in Alachua and Suwannee counties, adding 150 megawatts of clean energy to Florida's grid. These projects will help power approximately 23,000 homes at peak output. The Clean Energy Connection program allows income-qualified customers to benefit from guaranteed monthly savings on their bills. With over $2 billion invested, Duke Energy Florida aims to build 25 solar plants for a total of 1,500 MW capacity by 2024, utilizing around 5 million solar panels. Each facility displaces significant amounts of fossil fuels annually, promoting a cleaner energy mix as part of the company's commitment to reduce carbon emissions.

Duke Energy celebrates National Lineworker Appreciation Day on April 18, honoring the contributions of lineworkers who maintain the electrical infrastructure and ensure reliable power delivery across its service areas. With over 7,700 lineworkers, they play a crucial role in modernizing the power grid and enhancing safety and reliability, especially during severe weather events. The company is actively recruiting entry-level lineworkers to meet the growing demand, collaborating with local community colleges to streamline the hiring process. Duke Energy has invested over $2.8 million in lineworker training programs in recent years. As part of its commitment to clean energy, Duke Energy aims for net-zero carbon emissions by 2050, alongside significant investments in grid enhancements and renewable energy technologies.

Duke Energy Carolinas and the City of Charlotte are initiating a pilot program aimed at assisting income-qualified residents with high energy usage. This initiative will provide free home repairs and energy-efficient retrofits to approximately 500 households in the Charlotte area, funded by a $4 million investment from Duke Energy and up to $1 million in American Rescue Plan Act funding from the city. The program addresses essential repairs such as plumbing and roofing, enabling energy retrofits that include HVAC upgrades and insulation improvements. The pilot aims to assist 1,000 participants over two years, targeting energy burden issues that low-income households face. Applications are currently open with services starting in mid-May 2023.

Duke Energy Foundation has announced a new child care innovation grants program with over $100,000 in funding aimed at addressing child care gaps in Indiana. The initiative responds to the significant rise in child care costs and a decrease in licensed providers, which negatively impacts working parents and businesses. Research from Indiana University's Public Policy Institute indicates that Indiana loses nearly $1.1 billion yearly due to child care-related absenteeism and turnover. Organizations can apply for grants up to $40,000 with an intent to propose by April 17, 2023 and grant proposals due by May 8, 2023. This program intends to foster community investments in early child care to support workforce growth.

Duke Energy is advancing its infrastructure in Florida to meet rising energy demands, focusing on reliable and affordable electricity for its 1.9 million customers. The company is enhancing its electric grid, integrating renewable energy sources, and has added 700 megawatts of solar capacity from 2018 to 2022, with an additional 750 megawatts planned by 2024. Led by LaQuitta Ghent, the team is committed to community engagement and customer satisfaction. Ghent emphasizes the importance of providing safe and reliable power, especially for essential services. With an evolving energy landscape, Duke Energy aims for net-zero carbon emissions by 2050, balancing growth with sustainability.