Welcome to our dedicated page for Duke Energy news (Ticker: DUK), a resource for investors and traders seeking the latest updates and insights on Duke Energy stock.
Duke Energy Corporation (NYSE: DUK) generates a steady stream of news as a Fortune 150 energy holding company with major regulated electric and natural gas utilities. This page aggregates coverage of Duke Energy’s announcements, allowing readers to follow developments affecting its multi-state operations in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, as well as its natural gas utilities in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.
News about Duke Energy frequently highlights investments in electric grid upgrades, cleaner generation and customer affordability. Recent company communications describe targeted infrastructure projects in Florida that expand solar capacity, upgrade natural gas power plants, harden the grid against storms and deploy self-healing technology, with reported savings of more than $1 billion in energy costs for customers. Other updates detail changes to storm cost recovery charges and bill impacts in response to hurricanes and regulatory decisions in the Carolinas and Florida.
Investors and observers can also track Duke Energy’s progress on the energy transition through news on nuclear and advanced technologies. Examples include the DeBary Hydrogen Production Storage System in Florida, capable of producing, storing and using green hydrogen, and large battery energy storage systems at former coal plant sites in the Carolinas. Regulatory and financial news items cover rate cases, performance-based regulation proposals, production tax credit mechanisms, and scheduled earnings releases and conference calls.
Community and philanthropic initiatives are another recurring news theme, such as America250 grants from the Duke Energy Foundation and employee-driven community investments. By following Duke Energy news, readers can monitor operational decisions, regulatory outcomes, infrastructure projects, customer programs and community support efforts that shape the company’s role in the U.S. utilities sector.
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.
Duke Energy Florida enhances its environmental stewardship by collaborating with the U.S. Fish and Wildlife Service to protect federally endangered wildflowers and threatened lizards in Marion County, Florida. This initiative includes installing management signage and adjusting vegetation practices to support habitats for the clasping warea and sand skink. The company has invested over $188,000 in conservation efforts since 2015. The partnership aims to engage local landowners and promote coexistence between conservation and industry, ultimately contributing to a healthier ecosystem.
Duke Energy is introducing flexible payment solutions to help customers manage their energy bills during the summer heat. Options include Budget Billing, allowing fixed monthly payments, and Pick Your Due Date, giving customers control over their billing dates. Additional features are usage alerts and installment plans for past-due balances. Duke Energy, serving approximately 870,000 customers in Indiana, is committed to reducing carbon emissions and enhancing the electric grid.
Duke Energy Foundation has allocated $100,000 in grants to support 23 mobile feeding programs across South Carolina, aiding over 10,000 seniors daily. This funding addresses the financial strain on organizations recovering from the pandemic and rising costs. The grants will enable local nonprofits to either purchase gas cards or fund paid drivers, ensuring continued meal delivery. These efforts are recognized as essential during a time of increased food insecurity and operational challenges faced by these programs.
Duke Energy announces a significant investment of over $40 million aimed at aiding communities facing financial struggles due to rising living costs. The funding will focus on grants for nonprofits, bill pay assistance through the Share the Light Fund, and energy efficiency programs. Key allocations include $600,000 for new grants, $8.2 million for nonprofit operational flexibility, $8.8 million for customer bill assistance, and $22.6 million for energy efficiency initiatives.
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Duke Energy (NYSE: DUK) has declared a quarterly cash dividend of $1.005 per share, marking an increase of $0.02. This dividend is payable on Sept. 16, 2022, to shareholders of record as of Aug. 12, 2022. Additionally, dividends for Series A and Series B preferred stocks were declared at $359.375 and $24.375 per share, respectively. Duke Energy has maintained a cash dividend payout for 96 consecutive years, showcasing its commitment to shareholder returns.