Duke Energy Corp Stock Price, News & Analysis

Duke Energy has entered a multiyear collaboration with Amazon Web Services (AWS) to develop advanced smart grid software and services aimed at enhancing grid reliability and promoting clean energy initiatives. The partnership will enable Duke Energy to invest $145 billion over the next decade to modernize its electric grid, integrate renewable energy, and prepare for electric vehicle adoption. By leveraging AWS cloud technologies, Duke Energy aims to significantly speed up its data-driven grid planning processes. This strategic move aligns with Duke Energy's commitment to achieve net-zero carbon emissions by 2050.

Duke Energy Foundation is investing nearly $100,000 in grants to support 18 organizations in Indiana, focusing on assisting communities affected by rising living costs. The funding aims to provide essential resources, including gas cards for over 200 low-income households facing transportation expenses. Notable recipients include the United Way of Monroe County, which is utilizing funds to purchase gas cards. Year-to-date, Duke Energy has contributed approximately $450,000 in energy bill assistance through its Share the Light Fund.

Duke Energy Foundation announced a grant of $34,000 to support seven Indiana organizations focused on aiding military veterans and active-duty service members. The funding aims to provide essential services such as civilian career pathways, transitional housing, and health care. Notable recipients include Liberty Place, which assists veterans facing homelessness, and Indiana Veterans Initiative, which connects former service members to local job opportunities. Duke Energy continues its commitment to community engagement and veteran support.

The Wendy's Company announced that seven restaurants in Central Florida are now sourcing renewable energy from Duke Energy Florida's Clean Energy Connection program. By early 2023, this will extend to ten restaurants, with a goal of 21 by the end of 2023 and approximately 35 by 2025. By then, Wendy's plans to source 6,363 kilowatts of clean energy. This partnership aims to reduce emissions and supports Wendy's corporate responsibility platform. The Clean Energy Connection program will support the operation of solar sites producing 749 megawatts of clean energy by 2024.

Duke Energy emphasizes customer protection against utility scams on Utility Scam Awareness Day, November 16. With over 150,000 scam attempts reported in 2022, the company partners with North American utilities to combat this issue. Scam tactics are evolving, targeting vulnerable customers with threats of service disconnection and requests for immediate payment. Duke Energy reassures customers that they will never demand immediate payments or sensitive information over the phone. The company continues to educate customers to decrease the victimization rate, which has dropped to under 1% in 2022 from 9% in 2015.

Duke Energy Florida quickly restored power to over 287,000 customers in just 12 hours following Hurricane Nicole, which impacted a large portion of its service area. With a workforce of 5,000 and preparations for the storm, the company achieved a restoration rate of 98%. The hurricane was notable as the first November hurricane to hit Florida since 1985. Final power restorations are expected to be completed by 10 p.m. on the same day. Duke Energy Florida serves 1.9 million customers across a 13,000-square-mile area.

Duke Energy Florida reports that as of 9:30 a.m. today, approximately 14,000 customers remain without power due to Tropical Storm Nicole. Restoration efforts have already successfully restored power to over 250,000 customers. The company anticipates restoring power to most remaining customers by 10 p.m. tonight, with earlier restorations expected for some areas. The focus will be on the panhandle and heavily affected regions like Pinellas and Volusia counties. Safety tips for customers during outages are provided, alongside restoration reporting methods.

Duke Energy is actively restoring power to customers in Florida affected by Tropical Storm Nicole, having already restored service to over 160,000 customers. The company anticipates that by midnight, 90% of customers in the first areas cleared by the storm will have power restored. As of 3 p.m., approximately 83,000 customers remain without power out of the 1.9 million served in the state. Restoration efforts are underway, and estimated times will be provided to customers as conditions improve.

Duke Energy has issued a warning as Tropical Storm Nicole approaches the Carolinas, anticipating heavy rains and gusty winds that may lead to potential outages. The company has mobilized around 6,000 line and tree workers to respond swiftly to any outages caused by the storm. Historical improvements to the grid, including the installation of self-healing technology, have significantly enhanced resilience against weather impacts, as demonstrated during Hurricane Ian. Customers are encouraged to prepare for possible outages and stay informed through official channels.