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.
Six major utilities, including Duke Energy (DUK), have formed the Electric Highway Coalition to enhance electric vehicle (EV) charging access across the South, Midwest, Gulf, and Central Plains regions. This initiative aims to install a network of DC fast chargers to alleviate range anxiety for EV drivers, facilitating long-distance travel. Duke Energy is also launching internal programs to expand charging infrastructure, including a $25 million pilot in North Carolina for 200 charging stations and an expansion in Florida with over 570 stations already deployed.
Duke Energy Foundation has granted $40,000 in total to Feeding Texas and the American Red Cross of Central and South Texas. The funding aims to support Texans affected by recent polar vortex-induced rolling blackouts and drinking water advisories. The American Red Cross will provide essential resources like food and shelter, while Feeding Texas aims to distribute over 200,000 meals to those in need. Texas holds a significant portion of Duke Energy Renewables' assets, operating nearly 1,500 MW of wind and 500 MW of solar capacity.
Duke Energy has commenced construction of the 50-MW Broad River Solar power plant in Cleveland County, N.C., enhancing its clean-energy portfolio. This project, part of North Carolina's solar legislation, will utilize over 170,000 solar panels to power 12,500 homes and is expected to be operational by the end of 2021. The initiative aims to reduce carbon emissions and create approximately 120 jobs during peak construction. Duke Energy plans to double its renewable portfolio to 16 GW by 2025, supporting its net-zero carbon goal for 2050.
Duke Energy's Green Source Advantage program has been approved by the Public Service Commission of South Carolina, expanding renewable energy options for large customers. This program allows customers to negotiate price terms with renewable suppliers while retaining renewable energy certificates. The application window opens March 29, 2021, and is available until 200 megawatts are subscribed, with 35 megawatts reserved for local governments. Duke Energy aims to reduce carbon emissions by at least 50% by 2030, following a 40% reduction since 2005.
On February 18, 2021, Duke Energy reported fewer ice-related power outages than anticipated due to warmer temperatures during a winter storm in the Carolinas. As of 5:30 PM, 5,000 customers, primarily in North Carolina, were without power. Initially, nearly 1 million customers were projected to be affected. Duke Energy mobilized over 7,000 workers from various states to respond to the situation. The company cautioned that more outages may occur as a second wave of precipitation is expected. The incident response continues to prioritize customer safety and timely restoration of power.
Duke Energy anticipates nearly 1 million power outages in North Carolina and South Carolina due to an approaching winter storm, starting Thursday. The company has mobilized over 5,400 line technicians, including support from Midwest and Florida regions, for restoration efforts. Weather conditions may delay damage assessments and restoration times. Duke Energy assures sufficient electricity supply and has completed preliminary inspections of transmission lines. Customers are encouraged to prepare for potential outages and can report issues through various channels.
Duke Energy Florida is investing $1 billion to construct 700 megawatts of solar power facilities by 2022, enhancing clean energy solutions for Florida. The company has begun construction on two solar plants, the Duette and Charlie Creek, both expected to produce electricity for approximately 23,000 homes at peak production. By spring 2022, they will add more plants, including Sandy Creek. The initiative is set to create 200-300 temporary jobs per project, and will significantly increase Florida's renewable energy capacity, with almost 300 MW added this year.
Duke Energy (NYSE: DUK) reported its fourth-quarter and year-end 2020 financial results on Feb. 11, 2021. The company serves 7.8 million retail electric customers across six states and distributes natural gas to 1.6 million customers in five states. Duke Energy operates an electric generating capacity of 51,000 megawatts and 2,300 megawatts from its renewables unit. The company emphasizes transforming customer experience and modernizing energy infrastructure. Detailed results can be accessed via their investors' section.
The colder winter and increased at-home activity due to COVID have led to higher natural gas usage among Piedmont Natural Gas customers. This, combined with rising commodity costs, has resulted in increased bills. Piedmont urges customers to explore energy-saving tips and sign up for programs like Equal Payment Plans. The company will continue to pass commodity costs without markup. Piedmont serves over 1 million customers across North Carolina, South Carolina, and Tennessee, and is a subsidiary of Duke Energy, which is recognized for customer satisfaction.
Duke Energy announces the promotion of Melissa Seixas to president of Duke Energy Florida, effective February 16, succeeding Catherine Stempien. Seixas, who has been with the company for 34 years, will focus on enhancing customer relations and advancing clean energy initiatives across the state. Her experience includes managing government relations and community engagement throughout a 35-county service area. Duke Energy continues to modernize its energy infrastructure and promote sustainability, serving approximately 7.7 million electric customers across six states.