Duke Energy (DUK) Accelerates Storm Cost Recovery Charge Removal, $44 Monthly Bill Reduction for Customers
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: seekingalpha
- Cost Recovery Acceleration: Duke Energy announced that its Florida unit will remove the storm cost recovery charge related to its approximately $1.1 billion response to hurricanes a month earlier than planned, expected to save customers about $44 monthly, significantly easing household financial burdens.
- Residential Customer Benefits: Starting in February, residential customers will see a reduction of approximately $33 per 1,000 kWh, with an additional $11 cut in March, enhancing consumer purchasing power and improving customer satisfaction.
- Commercial Customer Impact: Commercial and industrial customers will experience bill reductions ranging from 9.6% to 15.8%, depending on usage and other factors, which will help improve operational efficiency and profitability for businesses.
- Energy Supply Capacity: Duke Energy Florida operates 12,300 MW of energy capacity, supplying electricity to 2 million customers across a 13,000 square mile area, reinforcing the company's market leadership in Florida.
Analyst Views on DUK
Wall Street analysts forecast DUK stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for DUK is 138.13 USD with a low forecast of 126.00 USD and a high forecast of 150.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
15 Analyst Rating
8 Buy
7 Hold
0 Sell
Moderate Buy
Current: 117.390
Low
126.00
Averages
138.13
High
150.00
Current: 117.390
Low
126.00
Averages
138.13
High
150.00
About DUK
Duke Energy Corporation is an energy holding company. The Company operates through two segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). The EU&I segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio. EU&I provides retail electric service through the generation, transmission, distribution, and sale of electricity to customers within the Southeast and Midwest regions of the United States. The GU&I segment conducts natural gas operations primarily through the regulated public utilities of Piedmont, Duke Energy Ohio, and Duke Energy Kentucky. GU&I serves residential, commercial, industrial, and power generation natural gas customers, including customers served by municipalities who are wholesale customers. It also purchases a diverse portfolio of transportation and storage services from interstate pipelines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
