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.
On April 22, 2022, Indiana First Lady Janet Holcomb joined Duke Energy Indiana President Stan Pinegar and local officials to plant 5,000 trees at Ravinia State Forest. The initiative supports Indiana Governor Eric Holcomb's pledge to plant 1 million trees by 2025. The Indiana Department of Natural Resources provided various tree species, enhancing habitats and carbon sequestration. Duke Energy Foundation contributed $150,000 for forest development. Duke Energy, Indiana's largest electric supplier, serves about 870,000 customers, focusing on community and environmental stewardship.
Duke Energy (NYSE: DUK) will hold its annual shareholders meeting online on May 5, 2022, at 1 p.m. ET. Chair, President, and CEO Lynn Good will discuss the company's 2021 performance and future strategy. Shareholders can participate, vote on proposals, and ask questions, which will be addressed during or after the meeting. Details on accessing the meeting are found in the company's proxy statement.
Duke Energy Progress announced a proposed increase in fuel costs for South Carolina customers, citing rising demand and escalating fuel prices. If approved, residential bills would rise 8.3%, from $122.86 to $133.01 starting July 1, 2022. Commercial and industrial clients would see increases of approximately 9.5% and 12.1%, respectively. The increase aims to recover a $32 million under-recovery due to prior year fuel costs and reflects a true-up adjustment mandated by the Public Service Commission of South Carolina.
Duke Energy is launching its Clean Energy Connection program in Florida, inviting customers to subscribe starting April 20. Participants can access solar energy without needing their own equipment, benefiting from bill credits based on solar production. The program allocates 26 megawatts for low-income customers, ensuring guaranteed savings. Monthly fees are set at $8.35 per kW, with bill credits expected to surpass subscription costs within three to five years. Duke Energy is investing over $2 billion in solar infrastructure, aiming for 1,500 MW of emission-free generation by 2024.
Duke Energy has launched a new 16-megawatt natural gas-powered Combined Heat and Power Plant at Purdue University in Indiana. This facility not only produces cleaner energy for customers but also generates steam for the university's heating needs. It is expected to reduce carbon dioxide emissions by 50,000 metric tons, equivalent to removing 10,000 cars from the road. Additionally, the plant enhances operational flexibility for Purdue and improves grid reliability in the Lafayette area. Duke Energy aims for a reduction in carbon emissions by 50% by 2030 and net-zero emissions by 2050.
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Duke Energy will release its first-quarter financial results on May 9, 2022, at 7 a.m. ET, accessible via its investor website. A conference call for analysts will follow at 10 a.m. ET to discuss the results and provide further updates. The call will be hosted by Lynn Good and Steve Young, and can be accessed by phone or online. Duke Energy serves 8.2 million customers and aims for net-zero carbon emissions by 2050, with significant investments in renewable energy and grid enhancements. Further details can be found on their official website.
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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.