Duke Energy Corp Stock Price, News & Analysis

The Duke Energy Foundation has awarded over $641,000 in grants to support K-12 energy and engineering education initiatives in Florida. This funding, benefiting 22 organizations, aims to enhance educational experiences for underrepresented and low-income students and close opportunity gaps exacerbated by the pandemic. Grant recipients include local education foundations and community organizations focused on STEM programs. The foundation prioritizes building capacity for local education foundations and fostering a future workforce skilled in energy and engineering careers.

Piedmont Natural Gas has filed a request with the South Carolina Public Service Commission to raise residential customer bills by nearly $4 monthly, or $46 annually. This rate adjustment aims to recover costs from recent capital investments and operating expenses to ensure safe and reliable natural gas service. If approved, the new rates will take effect by October 1. The overall revenue increase for Piedmont's customer groups will be 3.4%. The last rate case in South Carolina occurred in 2002, with incremental adjustments made since 2005.

Piedmont Natural Gas and Duke Energy remind customers to call 811 before digging during National Safe Digging Month. This initiative aims to prevent injuries, outages, and costly repairs associated with damaging underground utility lines. In 2021, there were nearly 9,800 hits to underground lines, a 68% increase from the previous year. The 811 service helps identify utility locations to avoid accidents. Calling 811 at least three days prior to excavation is encouraged to maintain safety and prevent service disruptions.

Duke Energy is reinforcing its commitment to North Carolina's communities by allocating $500,000 in grants for the second year through its Hometown Revitalization Program, aimed at supporting local microgrant initiatives. The funding, awarded to 20 communities, will provide each community with $25,000 to assist small businesses, with microgrants ranging from $500 to $2,500. Since the pandemic began, Duke has contributed over $1.5 million to aid small business recovery. The grant application is open until May 31, with announcements planned for August.

Duke Energy has announced a grant allocation of $120,000 to 26 economic development organizations in Indiana aimed at job creation and investment. This funding, part of the company's Partnership Program, will enhance local marketing strategies and economic growth initiatives. Since 2017, Duke Energy has contributed nearly $600,000 to support Indiana's economic development. Organizations receiving funds include the Shelby County Development Corporation, which plans to promote its community in Japan to attract investment.

Duke Energy has launched the Energy Industry Second Chance Pilot Program in South Carolina, aiming to reduce recidivism by helping former prisoners reintegrate into the workforce. The initiative provided nearly $27,000 in funding from the Duke Energy Foundation to cover training and essential services like transportation and financial literacy. Participants received on-the-job training in utility vegetation management and will continue with Lewis Tree Service post-training, addressing both labor shortages and community reintegration.

Duke Energy Florida has announced a $100,000 donation to Coastal Conservation Association Florida (CCA Florida), adding to a previous $150,000 contribution. This funding supports marine fisheries conservation, education, and research efforts, notably the deployment of new artificial reefs along the Gulf of Mexico. The donation was revealed at CCA Florida's banquet and aligns with Duke's commitment to enhancing Florida's marine habitats. To date, Duke Energy and CCA Florida have released over 100,000 redfish and spotted sea trout to improve fishing opportunities.