Duke Energy Corp Stock Price, News & Analysis

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.

Duke Energy Renewables is launching an innovative wind turbine maintenance service, utilizing an all-in-one crane package, the GenHook LT™, to streamline operations. This service minimizes the complexity and risks associated with traditional maintenance methods by consolidating resources into one team and one truck. Benefits include easier transport, quick setup, enhanced safety, reduced risk, and zero greenhouse emissions. Duke Energy operates 3,000 megawatts of renewable energy capacity and aims to optimize wind resources, contributing to the growth of clean energy in the U.S.

Duke Energy has commenced construction on two significant solar projects in North Carolina, totaling 94 megawatts (MW). The Maiden Creek solar facility will produce 69 MW, while the Gaston solar facility will contribute 25 MW. These projects aim to deliver cost-effective solar energy, supporting Duke Energy's commitment to reducing carbon emissions and achieving its 2050 net-zero goal. With about 400,000 solar panels, they will collectively power around 20,000 homes and create approximately 380 construction jobs. The projects are expected to be operational by year-end, further solidifying North Carolina's status as a leading solar energy state.