Duke Energy Urges Customers to Conserve Energy Amid Cold Snap
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: Newsfilter
- Cold Snap Impact: Extremely low temperatures, ranging from 10 to 20 degrees below normal, are causing unusually high energy demand across the East Coast, prompting Duke Energy to request that customers voluntarily reduce energy usage from 4 a.m. to 10 a.m. on February 2 to alleviate grid strain and minimize the risk of temporary outages.
- Conservation Measures: Customers can help ease the grid's burden by lowering their thermostats to the lowest comfortable setting, avoiding the use of major appliances like washing machines, dryers, and dishwashers during peak hours, and turning off unnecessary devices and lights, while electric vehicle owners are encouraged to charge during midday when demand is lower.
- Company Response: Gerald Wilson, Duke Energy's vice president of grid operations, emphasized that the company is taking all necessary steps to meet customer energy needs, including maximizing generation and purchasing power, and collaborating with large commercial and industrial customers on demand response programs to maintain reliable service.
- Energy Transition Strategy: Duke Energy is executing an ambitious energy transition plan focused on major electric grid upgrades and cleaner generation sources, including natural gas, nuclear, renewables, and energy storage, ensuring that customer reliability and value remain a top priority.
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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 136.31 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.
13 Analyst Rating
8 Buy
5 Hold
0 Sell
Moderate Buy
Current: 120.890
Low
126.00
Averages
136.31
High
150.00
Current: 120.890
Low
126.00
Averages
136.31
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.
Duke Energy Urges Customers to Conserve Power Amid Cold Snap
- Cold Weather Impact: Extremely low temperatures, ranging from 10 to 20 degrees below normal, are causing unusually high energy demand across the East Coast, prompting Duke Energy to request that customers voluntarily reduce their energy use from 4 to 10 a.m. on February 2 to alleviate grid strain and minimize the risk of temporary outages.
- Customer Response Measures: Gerald Wilson, Duke Energy's VP of grid operations, emphasized that while reducing electricity usage is inconvenient, customer cooperation is crucial for maintaining grid stability, as the company maximizes generation and power purchases to meet demand.
- Company Scale and Service: As one of America's largest energy holding companies, Duke Energy serves 8.6 million customers and owns 55,100 megawatts of energy capacity, also providing natural gas services to 1.7 million customers, highlighting its significant market presence.
- Energy Transition Strategy: The company is undertaking an ambitious energy transition, investing in grid upgrades and cleaner generation sources, including natural gas, nuclear, renewables, and energy storage, to ensure customer reliability and value while advancing towards a smarter energy future.
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Duke Energy Urges Customers to Conserve Energy Amid Cold Snap
- Cold Snap Impact: Extremely low temperatures, ranging from 10 to 20 degrees below normal, are causing unusually high energy demand across the East Coast, prompting Duke Energy to request that customers voluntarily reduce energy usage from 4 a.m. to 10 a.m. on February 2 to alleviate grid strain and minimize the risk of temporary outages.
- Conservation Measures: Customers can help ease the grid's burden by lowering their thermostats to the lowest comfortable setting, avoiding the use of major appliances like washing machines, dryers, and dishwashers during peak hours, and turning off unnecessary devices and lights, while electric vehicle owners are encouraged to charge during midday when demand is lower.
- Company Response: Gerald Wilson, Duke Energy's vice president of grid operations, emphasized that the company is taking all necessary steps to meet customer energy needs, including maximizing generation and purchasing power, and collaborating with large commercial and industrial customers on demand response programs to maintain reliable service.
- Energy Transition Strategy: Duke Energy is executing an ambitious energy transition plan focused on major electric grid upgrades and cleaner generation sources, including natural gas, nuclear, renewables, and energy storage, ensuring that customer reliability and value remain a top priority.
Continue Reading