Latest news with #DukeEnergyCarolinas
Yahoo
09-07-2025
- Business
- Yahoo
Duke Energy's (DUK) Subsidiary Eyes More Revenues in South Carolina
Duke Energy Corporation (NYSE:DUK) is one of the 10 best defensive stocks to buy in a volatile market. On July 1, the company's subsidiary, Duke Energy Carolinas, filed a request for a 7.7% rate increase in South Carolina. If approved, the new power rates will come into effect early next year. A senior executive of the energy sector company speaking in front of a board of investors. The proposed rate increase will result in a monthly bill increase of up to $10.38 for residential customers using 1,000 kilowatt-hours of electricity. Commercial customers are to experience a 5.4% average bill increase, while industrial customers will face an average increase of about 5.2%. The proposed rate increase will increase Duke Energy's annual revenue in South Carolina by up to $150.5 million. The increase is in response to the investments the company has made in the power grid, improved reliability, and storm resilience. While we acknowledge the potential of DUK as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
USA Today
24-06-2025
- Climate
- USA Today
NC residents urged to conserve energy as emergency order issued amid heatwave
The U.S. Department of Energy issued an emergency order on Tuesday, June 24, amid ongoing extreme heat warnings across the Southeast. The order, which is in effect until 10 p.m. June 25, was requested by Duke Energy on June 23 to "preserve the reliability of the bulk electric power system." It authorizes Duke Energy Carolinas to operate certain electric generating units at maximum generation output levels during the extreme heat to avoid blackouts and preserve the reliability of the power system. "As electricity demand reaches its peak, Americans should not be forced to wonder if their power grid can support their homes and businesses. Under President Trump's leadership, the Department of Energy will use all tools available to maintain a reliable, affordable, and secure energy system for the American people," said U.S. Secretary of Energy Chris Wright in a news release. North Carolina power outages As of 12:45 p.m. Tuesday, there were 187 active power outages across all counties within the Duke Energy Carolinas region, leaving 1,015 customers without power including 678 in N.C. and 337 in S.C. Duke Energy requests customers reduce energy use during heat wave On June 23, Duke Energy released a statement urging customers in the Carolinas to reduce energy use during periods of peak demand from 3-8 p.m. to "lessen the energy demand on the power grid and reduce the potential of isolated power outages." 'We deeply appreciate our customers' cooperation, patience and understanding as we work to help ensure the stability and reliability of the system,' said Duke Energy spokesperson Ben Harrison in the release. 'We understand that reducing electricity use during these hours can be inconvenient, but our customers' actions make a significant difference for all.' The company suggested the following methods of reduction: As of around 1 p.m. on June 24, the company had not yet released a further statement. What to expect in the Wilmington area Inland areas of Brunswick, New Hanover and Pender counties are under an extreme heat warning until 8 p.m. Wednesday, June 24, according to the National Weather Service in Wilmington. Heat-related illnesses increase during extreme heat and high humidity, so the weather service is urging residents to drink plenty of fluids, stay in air conditioning, stay out of the sun and check on relatives and neighbors. Here's the upcoming forecast for Wilmington: Iris Seaton is the trending news reporter for the Asheville Citizen Times, part of the USA TODAY Network. Reach her at iseaton@
E&E News
03-06-2025
- Business
- E&E News
Supreme Court requests DOJ input in utility antitrust petition
The Supreme Court is asking for the Justice Department's input on whether it should take up an antitrust case involving two southern utilities that could have broader implications for how courts evaluate business competition. On Monday, the justices invited Solicitor General D. John Sauer to file a brief on the case Duke Energy Carolinas v. NTE Carolinas II LLC. Duke Energy is aiming to overturn a 2024 lower bench ruling finding that a combination of actions the electric power company had taken involving Florida-based power supplier NTE could qualify as anticompetitive. At least four justices have to vote to take up a case. The solicitor general's view of the dispute's nationwide significance can be an important factor in deciding whether the justices will grant a petition. Advertisement The North Carolina-based company claims that a decision allowing a 4th U.S. Circuit Court of Appeals ruling to stand could revive a dormant legal theory that could open the door to more litigation among competing companies.
Yahoo
18-05-2025
- Business
- Yahoo
Duke Energy sues local company
Duke Energy Carolinas recently filed a lawsuit against a Mooresville excavating and paving company. The utility is seeking in excess of $70,000 related to an alleged incident that damaged an electric cable, court records state. READ: FOP to move forward with no-confidence vote against Chief Jennings DEC filed the complaint in Mecklenburg County last week against Pedulla Trucking Excavating & Paving Inc., according to court records. DEC claims that Pedulla Excavating in May 2022 damaged a primary electric cable at or near 1620 Flat River Drive. The Charlotte-based utility is accusing the Mooresville company of trespass and negligence. Read more here. WATCH: FOP to move forward with no-confidence vote against Chief Jennings
