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New Duke Energy programs offer Florida customers more choices related to electric vehicles

1. Duke Energy launches programs to support electric vehicle adoption. 2. Charger Prep Credit assists with EV charging infrastructure costs. 3. Off-Peak Charging Credit incentivizes EV charging during low-demand hours. 4. Fleet Advisory Program offers funds to businesses for fleet electrification studies. 5. Duke Energy aims for an ambitious energy transition and grid upgrade.

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FAQ

Why Bullish?

The launch of EV-related programs reflects a strategic shift towards future energy solutions, suitable for investor confidence. Historical examples, like similar programs by competitors leading to stock price increases, support this outlook.

How important is it?

The significance lies in enhancing customer adoption of EVs, directly impacting DUK’s revenue and aligning with investor interests in sustainable energy solutions.

Why Long Term?

These programs establish long-term customer relationships and drive electric grid upgrades, ensuring sustainable growth and revenue streams in the future.

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Various incentives offered for residential and business customers through the Charger Prep Credit, Off-Peak Charging Credit and Fleet Advisory programs  , /PRNewswire/ -- Today, Duke Energy Florida announced the launch of three new programs – the Charger Prep Credit, Off-Peak Charging Credit and Fleet Advisory programs – to offer both residential and business customers more choices related to electric vehicles (EVs). "Not only do EVs help save on fuel and maintenance costs for drivers, but they have significant economic and environmental benefits as well," said Melissa Seixas, Duke Energy Florida state president. "Our goal with these programs and the various incentives they offer is to make EVs more accessible for all of our customers, helping meet their individual needs, while contributing to the ongoing energy transition." Charger Prep Credit Program (Residential and Business Customers) Through the Charger Prep Credit program, both residential and business customers can receive a one-time credit to defray the cost of installing EV charging infrastructure, including new electric plug-in outlets, electrical wiring improvements and other electrical upgrades required to support Level 2 or higher EV chargers. However, it does not apply to the charging station hardware and software (if needed), as well as permit fees. For more information, please click here (for residential customers) or here (for business customers). Off-Peak Charging Credit Program (Residential Customers Only) The Off-Peak Charging Credit program allows residential customers to get paid for charging their EVs during times when demand for energy is typically lower. Eligible customers using a Level 2 charger can earn a $7.50 credit on their monthly electric bills for charging their EVs during these off-peak hours – 10 a.m. to 6 p.m. and 11 p.m. to 5 a.m. Monday through Friday and anytime on weekends and holidays. It originally began as a pilot (reaching its threshold of 3,000 active participants while maintaining a lengthy waitlist) and is now a permanent offering without an enrollment limit. For more information, please click here. Fleet Advisory Program (Business Customers Only) By participating in the Fleet Advisory program, business customers can receive up to $12,000 to offset the cost of completing a fleet electrification study to assess the benefits of switching their fleet vehicles to EVs. The goal is for businesses to learn how to reduce their carbon footprint, while also discovering how EVs can lower their operating costs and improve overall efficiency. To qualify, a customer's fleet must include 20 or more light-duty vehicles, five or more medium/heavy-duty vehicles, or a combination of 10 or more light-duty and/or medium/heavy-duty vehicles. For more information, please click here. Duke Energy FloridaDuke Energy Florida, a subsidiary of Duke Energy, owns 12,300 megawatts of energy capacity, supplying electricity to 2 million residential, commercial and industrial customers across a 13,000-square-mile service area in Florida.   Duke EnergyDuke Energy (NYSE: DUK), a Fortune 150 company headquartered in Charlotte, N.C., is one of America's largest energy holding companies. The company's electric utilities serve 8.4 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 54,800 megawatts of energy capacity. Its natural gas utilities serve 1.7 million customers in North Carolina, South Carolina, Tennessee, Ohio and Kentucky.  Duke Energy is executing an ambitious energy transition, keeping customer reliability and value at the forefront as it builds a smarter energy future. The company is investing in major electric grid upgrades and cleaner generation, including natural gas, nuclear, renewables and energy storage.  More information is available at duke-energy.com and the Duke Energy News Center. Follow Duke Energy on X, LinkedIn, Instagram and Facebook, and visit illumination for stories about the people and innovations powering our energy transition.  Contact: Aly Raschid24-Hour: 800.559.3853X: @DE_AlyRaschid SOURCE Duke Energy WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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