Duke Energy Corp Stock Price, News & Analysis

Duke Energy Progress announces a decrease in monthly energy bills for customers in North Carolina, effective December 2020. Residential customers will see a reduction of $4.59, lowering average bills from $116.87 to $112.28, a drop of 3.9%. Commercial and industrial customers will also benefit from reductions of 3.6% and 2.3%, respectively. The adjustments stem from annual rate changes approved by the North Carolina Utilities Commission, reflecting fuel cost adjustments and compliance with renewable energy standards.

Duke Energy has merged its upstream and downstream supply and transaction applications into a single platform, the Trellis Energy Transaction Management System (ETMS), marking a significant first in the U.S. natural gas local distribution sector. This integration enhances contract management, demand forecasting, and billing across five states, improving efficiency for large-volume customers. The new system allows for more accurate energy management, which could lead to cost savings for industrial clients. Duke Energy aims to innovate continually to meet customer needs in a rapidly changing market.

Duke Energy announced significant executive changes to enhance its strategy for achieving net-zero carbon emissions by 2050. Effective December 1, 2020, Preston Gillespie will become the senior vice president and chief generation officer, integrating various generation strategies. Kelvin Henderson takes over as chief nuclear officer, and Ben Waldrep will lead North Carolina nuclear operations. Additional appointments include Keith Butler as chief security officer, Katie Aittola as chief risk officer, and Melissa Feldmeier as chief ethics and compliance officer. These changes aim to strengthen the company's leadership.

Duke Energy, in collaboration with utilities across North America, is raising awareness about utility scams on Utility Scam Awareness Day, which falls on Nov. 18. This initiative is crucial as scammers have become more prevalent, especially during the COVID-19 pandemic. Since the start of the campaign in 2016, the percentage of Duke Energy customers reporting losses to scams has dropped from over 9% to less than 3%. However, nearly $400,000 was lost to scammers this year. Duke Energy emphasizes the need for customer vigilance against impostors threatening immediate disconnection of service and instructing for immediate payment.

Duke Energy Florida and the Tampa Bay Rays partnered to raise $123,000 for the community, celebrating the Rays' American League Championship victory. The initiative, named Powering Through Together, involved a $1,000 donation per home run, which doubled to $2,000 during postseason play, benefiting 211 Tampa Bay Cares. This partnership aims to provide essential services to families facing financial challenges. Duke Energy Florida supports about 1.8 million customers across a 13,000-square-mile area.

Duke Energy (NYSE: DUK) released its third-quarter 2020 financial results, showing robust operational performance. The company serves 7.8 million retail electric customers across six states and operates a substantial electric generating capacity of 51,000 megawatts. Customers also benefit from the Duke Energy Renewables unit, which focuses on clean energy. Duke Energy is committed to modernizing its energy grid and expanding natural gas infrastructure, enhancing customer experience. For detailed results, please refer to the investor section on their website.

Duke Energy announced that as of 5 p.m. ET on October 31, 2020, it restored power to nearly 90% of over 500,000 customers affected by Tropical Storm Zeta in North and South Carolina. The company aims to restore power to the remaining 61,000 customers by 11 p.m. ET on Monday, with many being restored sooner. Nearly 6,500 workers are engaged in the restoration effort, which involves challenging repairs. Customers can report outages via multiple channels, including a mobile app and text messaging.