Duke Energy Corp Stock Price, News & Analysis

Duke Energy will implement standard billing practices in North Carolina from October 2020, continuing to suspend service disconnections for nonpayment until then. Customers facing financial hardship due to COVID-19 can establish flexible payment plans and will not incur late fees during this period. The company has contributed over $2.1 million to support local organizations addressing food and educational needs. Duke Energy urges eligible customers to access financial support programs, as it resumes regular operations while prioritizing customer assistance.

Duke Energy (NYSE: DUK) reported its second-quarter 2020 financial results on August 10, 2020. The company, based in Charlotte, N.C., serves 7.8 million retail electric customers across six states and distributes natural gas to 1.6 million customers in five states. It generates 51,000 megawatts through regulated utilities and 2,300 megawatts through Duke Energy Renewables. An investor presentation led by CEO Lynn Good and CFO Steve Young highlighted key business updates, emphasizing the company's commitment to modernizing the energy grid and generating cleaner energy.

Duke Energy has partnered with the South Carolina Chamber of Commerce to assist small businesses affected by COVID-19. A $100,000 grant from the Duke Energy Foundation will support 56 businesses, particularly those owned by minorities and women. The program includes six months of mentoring and a $1,000 microgrant for pandemic-related expenses. Additionally, online classes will be offered to enhance skills in various business areas. This initiative emphasizes Duke Energy's commitment to community support during challenging times.

Duke Energy Florida is preparing for potential outages as Hurricane Isaias is projected to impact the Southeast coast of Florida on Saturday. The storm may bring strong winds and heavy rainfall, affecting power supply for customers in central and eastern Florida. Duke Energy emphasizes its commitment to providing safe and reliable power, especially during the pandemic when customers are home more than ever. The company is implementing COVID-19 safety measures for its crews while restoring power. Customers are encouraged to sign up for outage alerts and follow safety recommendations.

Duke Energy Carolinas plans to reduce monthly fuel costs for its South Carolina customers starting Oct. 1, 2020. A typical residential customer using 1,000 kWh will see a decrease of $6.81, approximately 5.6%. Commercial customers will also experience a 5.6% reduction, while industrial customers will save about 9.8%. This annual adjustment is based on actual fuel costs, with no profit margin for Duke Energy on these rates. The proposed decrease impacts over 600,000 customers across South Carolina.

Duke Energy (NYSE: DUK) has announced a partnership with SustainRNG to develop renewable natural gas (RNG) from dairy farms in the southeastern United States. The company has taken a minority stake in SustainRNG and will work together to engineer, finance, and operate RNG facilities. This collaboration aims to capture methane from organic waste, benefiting farmers by providing an additional revenue source while also helping to reduce waste management costs. The first project is expected to be completed in 2021, leveraging advanced anaerobic digestion technology.

Duke Energy and Buncombe County are collaborating to construct a 5-megawatt solar power plant on a retired landfill in Woodfin, North Carolina. This initiative supports the county's 2030 renewable energy goals and aims to provide energy to Duke Energy customers in the Carolinas. The project will generate enough energy to power around 1,000 homes annually, utilizing concrete blocks for solar racking to protect the landfill's ground covering. Duke Energy's investment in renewable projects reinforces its status as a national leader in solar energy, operating 40 solar plants in North Carolina.

Duke Energy has awarded $648,000 in grants to 16 organizations across North Carolina aimed at enhancing workforce education and training programs. The funding prioritizes initiatives addressing skill gaps and fostering a diverse future workforce in the energy sector. Notable recipient North Carolina Central University reported an 82% increase in physics program enrollment due to previous support. These grants align with Duke Energy's Powerful Communities philanthropic program, underlining its commitment to building diverse workforce initiatives.

Duke Energy Florida has announced $655,000 in grants to 19 educational and workforce development programs aimed at addressing skills gaps exacerbated by the COVID-19 pandemic. The funding is part of the company’s commitment to fostering a skilled workforce in the energy sector. Notable recipients include Lake-Sumter State College and St. Petersburg College, with awards of $120,000 and $100,000 respectively. Duke Energy emphasizes its role in supporting local communities and enhancing career opportunities in the energy industry, which boasts an average annual salary exceeding $77,000.