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The industry leader for online information for tax, accounting and finance professionals. The strong valuation was also recognized by the investment community and utility industry more broadly: A Guggenheim Securities analyst noted that "(Duke Indiana) transacted at what we view as a very attractive multiple and is accretive to earnings and credit," while the 28-times regulated earnings multiple achieved by Duke Indiana was referenced by FirstEnergy executives on an investor call months prior to inking the FirstEnergy-Brookfield transaction. REUTERS/Dado Ruvic/Illustration. On Nov. 7, 2021, FirstEnergy announced that it entered into a definitive agreement with Brookfield Super-Core Infrastructure Partners ("Brookfield"), a leading global infrastructure fund, to sell a 19.9% stake in FirstEnergy Transmission, LLC ("FET"), the holding company of FirstEnergy's FERC-regulated transmission utility subsidiaries (Federal Energy Regulatory Commission) for $2.4 billion. While the sale of minority positions in regulated utility subsidiaries has emerged as an energy M&A trend of 2021, only time will tell whether this transaction structure becomes a go-to method for utility holding companies to efficiently raise capital. However, the potential benefits of such a transaction structure to a publicly traded utility holding company, as well as the attractiveness of such an investment opportunity to institutional investors, are far more apparent. Advocates led by Southern Alliance for Clean Energy recently filed testimony criticizing Dukes mostrecent planning document, asserting that retiring coal plants early, avoiding new natural gas plants and shifting aggressively to renewables would be over $5 billion less expensive than their business plan. Since there are plenty of utility companies that are publicly traded on the stock market, retail investors have their pick of potential utility investments. While GIC received certain limited governance rights commensurate with its minority investment in Duke Indiana (e.g., the right to designate two out of 10 board members, consent/veto rights over certain fundamental decisions, etc. Share Price. About Duke Energy. Across the nation, forward-looking utilities are accelerating the development of cheaper, cleaner and safer renewables, energy storage and efficiency, and phaseout of expensive, dirty and dangerous coal, nuclear and natural gas plants. Forms EIA uses to collect energy data including descriptions, links to survey instructions, and additional information. However, Duke owns local distribution systems in its Ohio service territory that are regulated. Four are more than 40 years old. The resulting percentage is then matched with ACEEEs scoring table, which scored life-cycle savings on a scale of 0 to 4. A comparison of valuation ratios and expected growth through 2025 highlight Amazon as a "happy medium" among the biggest tech companies. Language links are at the top of the page across from the title. "Differences Between Publicly and Investor-Owned Utilities", "Investor-Owned Utilities: Asleep at the Switch or Above the Law? FirstEnergy stated that the Brookfield transaction, along with a simultaneously announced strategic investment by Blackstone Infrastructure Partners, would "provide funding for strategic capital expenditures, and address all of FirstEnergy's equity plans." For decades the NRC hascolludedwith the nuclear industry to weaken safety standards to keep aging reactors running. Duke Energy Corp., World Association of Nuclear Operators, New York City Ballet, Inc., MyfutureNC, KO Transmission Co., Foundation for the Carolinas, Duke Energy Carolinas LLC, Catamount Energy Corp., The Bechtler Museum of Modern Art, Duke Energy Ohio, Inc., Duke Energy Florida LLC, Institute of Nuclear Power Operations, Inc., The Boeing Co. Duke Energy Corp., FTI Consulting, Inc., ITT, Inc. Truist Financial Corp., Truist, Inc., Duke Energy Corp., Johnson & Wales University, Inc., Charlotte Collegiate Football, Inc., Truist Bank, Charlotte Sports Foundation, National Fuel Gas Co. Chief Operating Officer & Executive Vice President, Chief Financial Officer & Executive Vice President, Total Insider Purchases and Sales Reported to the SEC, Vanguard US Total Market Shares Index ETF, Vanguard Institutional Total Stock Market Index Trust, SPDR Series - Utilities Select Sector SPDR Fund. Solar and hydro power supplied 2 percent. The fixed customer charge is the part of the bill intended to cover administrative costs the cost of installing and reading meters, billing, and the poles and lines that connect the home to the distribution system. Any copying, republication or redistribution of Lipper content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Lipper. Demand will drop as cheaper prices for solar panels, wind turbines and other forms of distributed generation empower customers and local communities to generate their own electricity, freeing them to leave Dukes system entirely. This strategy is by no means limited to Duke: A November 2018 study byThe Brattle Groupfound that electric utilities across the U.S. are overspending by billions to upgrade transmission lines and other equipment. These forever chemicals pollute water, dont break down, and remain in the environment and people for decades. Or they can assess solar customers so-called demand charges, based not on actual electricity used but on the customers highest demand for the month. Sources: FactSet, Dow Jones, Bonds: Bond quotes are updated in real-time. In November 2018, the two utilities separately asked South Carolina regulators for major increases in their flat monthly customer charges. We calculated that the overall efficiency score for Duke across all its territories is only one out of four a failing grade by any standard. Duke Energy, a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The chances for a major accident increase because of wear and tear on parts from extreme heat and radiation exposure. The public interest groupsAppalachian Voices and NC Warnsay Duke claims the plan would prepare the electric grid for more renewables but is actually impeding the growth of renewables and storage.. Many utility companies are publicly traded, while others are privately or community owned. Point Beach Nuclear Plant. Duke Energy ( NYSE: DUK) is owned by 63.21% institutional shareholders, 0.83% Duke Energy insiders, and 35.96% retail investors. Duke Energy has about 7.7 million customers. Duke Energy (NYSE:DUK) is an electric power holding company with services in six U.S. states. (Capacity in megawatts; generation in megawatt-hours. See Duke Energy Corporation press release "Duke Energy partners with GIC to secure minority investment in Duke Energy Indiana, increases long-term EPS growth Rate" (Jan. 28, 2021). The potential for renewables in Dukes territories is huge. Learn More. Energy storage and efficiency, rooftop solar, and other strategies such as demand response8can much morecheaply displace or postponecostly transmission and distribution upgrades. July 5 (Reuters) - Utility firm Duke Energy (DUK.N) said on Wednesday it would sell its commercial distributed generation business to private equity firm ArcLight . Visit a quote page and your recently viewed tickers will be displayed here. Visit EWG's 501(c)(4) organization, EWG Action Fund. The expansion of net metering will let solar customers send the electricity they generate back into Dukes system and receive a credit on their monthly bills. Therefore, the combined savings is 8.8 percent, for a combined score of 0.92, rounded up to 1. DUK - Duke Energy Corp Shareholders - CNNMoney.com Effective/Applicability Date. Duke Energy helps kids attend Sellersburg summer camp - Yahoo News Tools to customize searches, view specific data sets, study detailed documentation, and access time-series data. Sources: CoinDesk (Bitcoin), Kraken (all other cryptocurrencies), Calendars and Economy: 'Actual' numbers are added to the table after economic reports are released. relationships and build investor experiences. Duke Energy is the largest investor-owned electric utility in the U.S., serving 7.7 million customers in North and South Carolina, Florida, Indiana, Ohio and Kentucky. Dominion Energy (NYSE:D) is headquartered in Richmond, VA and operates in 16 states. EIA's free and open data available as API, Excel add-in, bulk files, and widgets. Duke warns: To undercut the customer incentive to invest in energy efficiency or install rooftop solar to cut electric bills, Duke has used two main strategies: derailing or weakening net metering and raising the fixed monthly customer charge. Were proud to be leaders of the clean energy revolution. Coal, natural gas and nuclear energy are dirty, dangerous energy sources of the past. For example, Duke Energy reported that the $2.05 billion purchase price in the Duke Indiana-GIC transaction represented a "significant premium to Duke Energy's current public equity valuation." Energy-Related Carbon Dioxide Emissions, Energy-Related Carbon Dioxide Emissions at the State Level, Quarterly Coal Report (QCR)First-Quarter 2023, Quarterly Coal Distribution Report (QCDR)First-Quarter 2023, Annual Solar Photovoltaic Module Shipments Report, Midwest and Rocky Mountain Transportation Fuels Markets, East Coast and Gulf Coast Transportation Fuels Markets. Published: July 5, 2023 at 7:51 a.m. In North Carolina, Duke stores110 million tonsof coal ash in unlined pits. Know your environment. Two versions of Dukes plan have beenrejected the first by the legislature; the second by regulators but the utility is still asking. State regulators, appointed by the governor and confirmed by legislators, must approve a utilitys investments in new plants. Natural gas production depends on fracking, which uses and releases large quantities of toxic chemicals, often near homes and schools. You can invest in utility companies that list on the NYSE like Duke Energy, NextEra, and Dominion Energythrough your online or traditional brokerage. About Us - Our Company - Duke Energy Source: FactSet, Indexes: Index quotes may be real-time or delayed as per exchange requirements; refer to time stamps for information on any delays.

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