Duke Energy Corp (DUK), PPL Corporation (PPL) – This Week in Utilities: New CEOs and Profitable Pilots

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Pilot projects for potential profits
When one pilot project ends, another begins. PPL Corporation (NYSE:PPL) announced the results of an energy-saving pilot project this week, and the findings are fantastic. Per Pennsylvania’s new energy efficiency law, PPL Corporation (NYSE:PPL) created a set of E-power programs to reduce customers’ electricity use by 3%. And while less electricity might seem like smaller profits, PPL Corporation (NYSE:PPL) itself managed to reduce its expensive peak load by 4.5%. According to the release, around 300,000 customers (25% of total) participated in at least one program, receiving a total $120 million in rebates and incentives.

Dominion Resources, Inc.(NYSE:D)‘s Virginia utility is kicking off its own pilot, a solar-power program to help eligible customers install panels on their homes and businesses. In addition to offsetting the initial costs of solar-panel installation, Dominion Resources, Inc.(NYSE:D) will offer guaranteed energy buybacks to the grid at a premium rate of $0.15 per kWh.

“This pilot program, which receives funding through our Dominion Resources, Inc.(NYSE:D) Green Power program, gives our customers who are interested in getting power from the sun another option than net metering that could help them reduce their installation costs,” said Vice President of Customer Solutions and Energy Conservation Ken Barker in a statement. The pilot program is currently limited to 3 MW but could increase dramatically if results prove positive.

Stay current on electricity
The world of utilities is changing fast, and dividend stocks aren’t the stable stalwarts they once were. Be sure to check back weekly for the latest on your portfolio’s moves, and you’ll be well on your way to electrifying earnings.

The article This Week in Utilities: New CEOs and Profitable Pilots originally appeared on Fool.com is written by Justin Loiseau.

Fool contributor Justin Loiseau has no position in any stocks mentioned, but he does use electricity. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool recommends Dominion Resources (NYSE:D).

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