Duke Energy Corp Stock Price, News & Analysis

Duke Energy (NYSE: DUK) has launched the utility industry's first sustainable commercial paper notes, aiming to support diverse suppliers and socioeconomic advancement. The company plans to allocate net proceeds to eligible projects, including giving opportunities to certified minority and women-owned businesses. Duke Energy expects to have between $300 million and $650 million of these notes outstanding over the next year. This initiative aligns with the company's goal of reducing carbon emissions by at least 50% by 2030 and achieving net-zero emissions by 2050.

Duke Energy is launching a pilot program in Florida to explore the use of Ford F-150 Lightning electric trucks as a grid resource. The program will test vehicle-to-grid (V2G) capabilities, allowing the trucks to supply power to homes and the grid during outages and peak demand periods. This initiative includes adding five trucks to Duke's fleet for extensive research on their battery performance and integration with solar energy systems. Duke aims to benefit customers and enhance the grid's efficiency while supporting its goals for clean energy transition by 2030 and net-zero carbon emissions by 2050.

Duke Energy has partnered with Ford to launch a demand response pilot program in North Carolina, leveraging the Ford F-150 Lightning's batteries to enhance the electric grid's reliability. Scheduled for 2023, the program will incentivize up to 100 participants by reducing lease payments for eligible EVs. Customers will allow their vehicles to return energy to the grid during peak times, thereby supporting energy balance. This initiative aims to promote a sustainable grid and is part of Duke Energy's broader goal of achieving net-zero emissions by 2050.

Duke Energy (NYSE: DUK) reported its second-quarter 2022 financial results. The call, led by CEO Lynn Good and CFO Steve Young, is available for access on their investor website. The company serves 8.2 million electric customers and 1.6 million natural gas customers, actively pursuing a clean energy transition with goals of net-zero methane emissions by 2030 and net-zero carbon emissions by 2050. Duke Energy aims to enhance its electric grid and explore zero-emission technologies, while maintaining a significant energy capacity of 50,000 megawatts.

Duke Energy (NYSE: DUK) announced significant executive appointments, effective September 1, 2022. Brian Savoy will transition from chief strategy and commercial officer to chief financial officer, succeeding Steve Young, who will become chief commercial officer. Savoy will manage financial functions, including financial planning and risk management, while Young will oversee renewable energy initiatives and strategies for achieving net-zero emissions. These changes are aimed at positioning the company for success in its clean energy transition.

Duke Energy Carolinas has filed with the South Carolina Public Service Commission for an adjustment in fuel costs due to increased demand post-COVID-19 and rising fuel prices. If approved, residential customers using 1,000 kWh will see their bills rise from $119.32 to $135.07, marking a 13.2% increase starting October 1, 2022. Commercial and industrial customers will face average increases of 18.3% and 24.4%, respectively. The adjustment addresses a $145 million under-recovery in fuel costs, as the company does not profit from these rates.

Duke Energy is repurposing two electric transmission towers in West Terre Haute, Indiana, into nesting platforms for bald eagles. The project, which begins in early August and aims for completion in early September, will utilize a specialty helicopter crew to remove inactive equipment and install platforms measuring 8 feet by 6 feet. Indiana has over 350 bald eagle nesting territories, and this initiative supports their population recovery. Duke Energy emphasizes its commitment to conservation, partnering with local parks to enhance the environment for wildlife.

Duke Energy Foundation has allocated over $175,000 in microgrants to 47 emergency management agencies in Indiana to enhance preparedness and response to severe weather events. Each agency will receive up to $10,000 for initiatives such as search and rescue K-9s, tornado sirens, and volunteer training. The funding aims to support local agencies in their critical role during natural disasters, ensuring efficient communication and resource provision necessary for Duke Energy's operations. The Foundation contributes more than $2 million annually to community needs in Indiana.