Duke Energy Corp Stock Price, News & Analysis

Duke Energy has completed three new battery storage projects in Florida, totaling nearly 34 megawatts. The facilities located in Highlands, Gilchrist, and Gulf counties aim to modernize grid operations and improve reliability during outages. The projects include an 18-megawatt site at Lake Placid Solar Power Plant, an 11-megawatt facility in Trenton, and a 5.5-megawatt site at Cape San Blas. Duke Energy will operate six battery sites in Florida by the end of 2022, totaling 50 megawatts, part of a larger $2 billion investment in solar generation and battery technology in the state.

Duke Energy is assisting Indiana customers with energy bill management by highlighting available state and federal programs. The Low Income Home Energy Assistance Program (LIHEAP) provides federal aid for households earning below certain income thresholds. Additionally, the 2-1-1 service connects customers to local agencies for various support needs, while the Share the Light Fund offers direct assistance for electric bills. Duke Energy also promotes energy-saving solutions to help customers save costs. The company serves approximately 860,000 customers in Indiana.

Honeywell (Nasdaq: HON) and Duke Energy Sustainable Solutions (NYSE: DUK) announced a partnership to enhance energy resiliency across the U.S. The collaboration aims to address energy security by developing microgrid solutions that help communities manage power outages and climate disruptions. With increased power interruptions, the alliance will integrate solar, battery storage, and smart city technologies to bolster critical services like water distribution. Honeywell's initiatives under the HEER program will further support the implementation of these sustainable energy solutions.

Duke Energy announced a new $500,000 microgrant program aimed at enhancing emergency preparedness and storm resiliency in South Carolina. The initiative targets communities affected by severe weather events, providing grants up to $20,000 for training, equipment, and planning. Applications open on March 7 and close on April 29, with decisions expected by May 20. This program aligns with Duke Energy's commitment to community support and disaster preparedness, emphasizing the importance of resource availability for local agencies.

Meijer, a Midwestern retailer, has partnered with Duke Energy Sustainable Solutions to initiate a utility-scale solar project in Navarro County, Texas. This renewable energy power purchase agreement (VPPA) will enable Meijer to buy a portion of the energy produced for the next 15 years, supporting its goal of reducing carbon emissions by 50% by 2025. The project is expected to generate around 200,000 megawatt hours annually, equating to a reduction of over 103,000 metric tons of CO2e. The initiative underscores Meijer's commitment to sustainability and community impact.

Duke Energy Carolinas has filed for an increase in monthly fuel costs effective September 1, 2022, with residential bills projected to rise by 6.6%, commercial by 9.3%, and industrial by 9.0%. The rise is attributed to heightened energy demand post-COVID-19 and escalating fuel prices, leading to a $245 million under-recovery from the previous year. Additionally, the adjustment for energy efficiency programs will result in a slight decrease in residential rates by January 1, 2023. Duke Energy serves around 2 million customers in North Carolina.

Duke Energy announced the appointment of Derrick Burks as a new board member, effective March 1, 2022. Burks, a former managing partner at EY, brings extensive experience in assurance, tax, and advisory services. He has previously served on the board of Vectren Corporation and is currently involved with Equity LifeStyle Properties and Kite Realty Group Trust. His expertise in audits, risk assessment, and capital markets is expected to aid Duke's strategy amidst industry changes. Burks joins under a 2021 cooperation agreement with Elliott Investment Management, emphasizing the company's focus on regional expertise.

Duke Energy (NYSE: DUK) reported its fourth-quarter and year-end 2021 financial results on February 10, 2022. The company serves 8.2 million electric customers across multiple states and aims for significant clean energy advancements, targeting a 50% carbon reduction by 2030 and net-zero emissions by 2050. Duke Energy is also committed to expanding its renewable energy capacity to 16,000 megawatts by 2025. The company has been recognized by Fortune and Forbes for its business excellence and employer reputation.