duke energy corp (DUK) Key Developments
Duke Energy Corporation Announces Unaudited Consolidated Earnings Results for First Quarter Ended March 31, 2015 ; Re-Affirms Earnings Guidance for the Year 2015
May 1 15
Duke Energy Corporation announced unaudited consolidated earnings results for first quarter ended March 31, 2015. For the quarter, the company reported total operating revenues of $6,065 million, operating income of $1,456 million, income from continuing operations before income taxes of $1,140 million, income from continuing operations of $776 million or $1.09 per basic and diluted share, net income attributable to company of $864 million or $1.22 per basic and diluted share, net cash provided by operating activities of $1,455 million compared to the total operating revenues of $6,263 million, operating income of $1,362 million, income from continuing operations before income taxes of $1,089 million, income from continuing operations of $750 million or $1.05 per basic and diluted share, net loss attributable to company of $97 million or $0.14 per basic and diluted share, net cash provided by operating activities of $1,373 million for the same quarter a year ago. The company announced first quarter 2015 adjusted diluted EPS of $1.24, compared to $1.17 for first quarter 2014.
Based upon results through the first quarter, the company remains on track to achieve its 2015 adjusted diluted earnings guidance range of $4.55 to $4.75 per share.
Duke Energy to Build Fully Lined Coal Ash Landfills at Dan River and Sutton Plants
Apr 29 15
Duke Energy plans to submit permits to construct fully lined on-site landfills at the Dan River Steam Station in Eden, N.C., and the Sutton Plant in Wilmington, N.C. The landfills will be located on plant property and will provide a permanent storage solution for more than 6 million tons of coal ash at the two sites. The projects will also have contingency capacity for additional excavation at the sites, if needed. The proposed landfills are in addition to off-site solutions that Duke Energy submitted to regulators in November 2014 for more than 3 million tons of ash at the plants. Landfills at each site will feature multiple layers of synthetic and natural barriers. Coal ash will be stored dry in the landfills with additional layers of lining installed on top of the landfill – effectively containing the ash and separating it from surrounding soil and groundwater.
Duke Energy Announces to Close Big Choga Access Area
Apr 29 15
Duke Energy announced that it will temporarily close the Big Choga Access Area on Lake Nantahala beginning May 4, 2015. Improvements to the Big Choga Access Area including paving the parking lot and constructing an accessible vault toilet. The boat ramp will be closed to facilitate the construction activities. During this period, guests may launch boats at the Rocky Branch Access Area located at 28 Alpine Shores Lane. The work at the Big Choga Access Area is scheduled to be completed by the fall 2015 based on weather conditions. These improvements are part of ongoing efforts by the company to ensure quality access areas are available to the recreational boating public for use at lakes. Big Choga Access Area is located on Big Choga Road in Macon County. The site is maintained by the N.C. Wildlife Resources Commission.
Duke Energy Corp. Looks to Avoid Debarment of Facilities Tied to Coal Ash Case
Apr 17 15
Duke Energy Corp. will use the time before its May 14, 2015 hearing on federal coal ash charges to work out an agreement with the U.S. EPA to avoid debarment of the facilities involved in the case. A federal judge on April 14, 2015 postponed the plea and sentencing for three Duke Energy subsidiaries that must answer federal charges of criminal negligence related to coal ash management in North Carolina. The company's motion to delay the hearing from April 16, 2015 was filed under seal with the U.S. District Court for the Eastern District of North Carolina, but the details behind the motion were revealed April 14, 2015 in open court. The hearing will now be held at 10 a.m. ET on May 14, 2015 in Greenville, N.C. Debarment would mean that the Duke Energy facilities involved in the federal coal ash case are prohibited from engaging in future business with a government entity. Duke Energy subsidiaries Duke Energy Business Services, Duke Energy Carolinas LLC and Duke Energy Progress Inc. are alleged to have negligently discharged coal ash and coal ash wastewater from the impoundments at the Dan River, Asheville, H.F. Lee Energy and Riverbend coal-fired power plants in violation of National Pollutant Discharge Elimination System permits. The federal government also alleged the failure to maintain equipment at the Dan River and Cape Fear plants. Duke Energy announced February 20, 2015 that it reached a proposed settlement with the U.S. government that would close the federal investigation of its subsidiaries prompted by the February 2014 Dan River coal ash spill. The agreement, subject to federal court approval, would require Duke Energy Carolinas and Duke Energy Progress to pay $68.2 million in fines and restitution and $34 million for community service and mitigation.
Duke Energy Receives Regulatory Approval from the North Carolina Utilities Commission to Construct Solar Farm at Marine Corps Base Camp Lejeune in Onslow County
Apr 16 15
Duke Energy received regulatory approval from the North Carolina Utilities Commission to construct a solar farm at Marine Corps Base Camp Lejeune in Onslow County, N.C. The 13-megawatt project - 17 megawatts is Duke Energy's first solar facility at a military base. Covering 80 acres, the facility will be owned and operated by Duke Energy Progress and is expected to be online in 2015. The project will enable the Department of the Navy and U.S. Marine Corps to meet critical renewable energy and
energy security goals, while helping Duke Energy further its commitment to renewable energy in the state. Crowder Construction Services will serve as the engineering, procurement and construction contractor. The project will use approximately 55,000 monocrystalline solar panels supplied by SolarWorld Americas. GE's Power Conversion business will supply its Brilliance inverters to be built out of its Pittsburgh facility.