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$600,000 to support basic needs, including food insecurity
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$8.2 million flexibility for nonprofits to use funds to offset increased expenses
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More than $8.8 million to allocate light fund to help low-income customers with bill payment assistance
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Investing more than $22.6 million in energy efficiency programs
CHARLOTTE, NC – As communities continue to feel financial strain due to the rising cost of basic necessities like food and transportation, Duke Energy and its Foundation are investing more than $40 million to support nonprofit organizations and other dedicated programs to help those in need. Funding focuses on three areas: current and new Foundation grants, bill payment assistance for low-income customers, and energy efficiency programs.
“Our communities have faced constant challenges in recent years and we know many are still struggling. Our nonprofit partners share that basic needs such as food insecurity, transportation costs, medical assistance and shelter are the top requests received from their clients,” said Katherine Neebe, president, Duke Energy Foundation. “We are responding to the direct needs of our local communities and we will continue to look for ways we can make an impact.”
Duke Energy Foundation
Duke Energy Foundation funding includes $600,000 in new Foundation grants and more than $8.2 million in flexibility for nonprofits that have received grants of $20,000 or less from 2021 to 2022 to date. Grantees will have the ability to use programmatic funds to cover rising general operating expenses under pressure from inflation.
Passage Home in Raleigh, NC, an organization that provides housing for veterans, received a new $15,000 grant.
“Our customers constantly have to make difficult decisions with their limited resources. They often have to choose between daily necessities and make a difficult decision based on what’s best for their family: gas or healthy food? Time rent or utilities? Low paying job or education with future potential for higher income? These are difficult choices that many of our customers live with every day. And rising rent, gas, groceries and childcare have only made these decisions more difficult,” said Seth Friedman, CEO, Passage Home. “With this donation from Duke Energy, Passage Home will help dozens of customers move from a precarious footing to a stable foundation. Passage Home will use this support to remove some of these difficult decisions for our clients who are moving toward self-sufficiency.”
Share the light fund
In addition to grant funding, the company is also providing support to customers through its Share the Light Fund and energy efficiency programs.
This year, Duke Energy and its Foundation will invest more than $8.8 million in the Share the Light fund, which serves low-income customers with assistance in paying utility bills, including connection/reconnection fees and deposits for over 26,000 families. Duke Energy employees, customers and shareholders contribute to these funds. Customers wishing to access the funds can visit Share the Light Fund to learn more.
Energy Efficiency Assistance
The company’s customers – from households to factories – depend on energy efficiency programs to save energy and money. In 2022, Duke Energy is investing more than $22.6 million in these programs, including our neighborhood energy savings, Plus payments, refrigerator replacement and weatherization programs. To learn more about these programs, customers can visit qualified income services.
Duke Energy will continue to engage with communities to learn how the company can have a positive impact on those it serves.
Duke Energy Foundation
The Duke Energy Foundation provides philanthropic support to meet the needs of the communities where Duke Energy customers live and work. The foundation contributes more than $30 million annually in charitable gifts and is funded by Duke Energy shareholder dollars. More information about the foundation can be found at duke-energy.com/foundation.
Duke Energy
Duke Energy (NYSE: DUK ), a Fortune 150 company headquartered in Charlotte, NC, is one of America’s largest energy companies. Its electric utilities serve 8.2 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and together own 50,000 megawatts of power capacity. Its natural gas unit serves 1.6 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky. The company employs 28,000 people.
Duke Energy is implementing an aggressive clean energy transition to achieve its goals of net zero methane emissions from its natural gas business and at least a 50% reduction in carbon from electricity generation by 2030 and net emissions carbon zero by 2050. The 2050 net zero targets also include scope 2 and certain scope 3 emissions. In addition, the company is investing in major improvements to the electric grid and energy storage, and is exploring technologies zero-emission energy production, such as hydrogen and advanced nuclear ones.
Duke Energy was named to Fortune’s 2022 “World’s Most Admired Companies” and Forbes’ “America’s Best Employers.” More information can be found at duke-energy.com. The Duke Energy News Center features news releases, fact sheets, photos and videos. Duke Energy Lighting features stories about people, innovations, community topics and environmental issues. Follow Duke Energy at I tweetLinkedIn, Instagram and Facebook.
Contact: Shawna Berger
24-hour: 800.559.3853
Twitter: @DE_ShawnaB
