Duke Energy Corporation (NYSE:DUK) is included among the 10 Best Nuclear Energy Stocks to Buy for Dividends.
Photo by Frédéric Paulussen on Unsplash
Duke Energy Corporation (NYSE:DUK) engages in the distribution of natural gas and energy-related services. The company owns and operates a diverse mix of regulated power plants – including hydro, coal, nuclear, natural gas, solar, and battery storage.
Duke Energy Corporation (NYSE:DUK) announced on April 23 that the U.S. Nuclear Regulatory Commission had renewed the operating license for its Robinson Nuclear Plant for a further 20 years, extending the facility’s operations until 2050. Located in Hartsville, South Carolina, the 759 MW plant provides enough carbon-free electricity to power 570,000 homes. Moreover, it supports around 500 high-paying jobs, in addition to contributing approximately $28 million in annual local taxes.
Robinson is the second Duke Energy Corporation (NYSE:DUK) nuclear plant to secure a subsequent license renewal, followed by the Oconee Nuclear Station in 2025. The company revealed that it would seek the same extension for all 11 operating units across its nuclear fleet.
Steven Capps, Chief Nuclear Officer for Duke Energy Corporation (NYSE:DUK), stated:
“Extending the operating life of this proven asset helps us deliver low-cost, always-on electricity for customers while supporting jobs and energy security for the region. Robinson’s subsequent license renewal reflects the strength of our safety culture and the rigorous work our teams do every day to support our communities.”
Congressman Russell Fry (SC-07) also commented:
“For 50 years, Robinson Nuclear Plant has been the backbone of South Carolina’s nuclear fleet. The extension of its license is monumental for the Pee Dee and allows Duke Energy to continue providing affordable, reliable electricity to homes and businesses in the region. This renewal is a win for families in the Pee Dee, Robinson Nuclear Plant’s employees and Darlington County as a whole.”
While we acknowledge the risk and potential of DUK as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than DUK and that has 10,000% upside potential, check out our report about this cheapest AI stock.
READ NEXT: 10 Best Global Stocks to Buy According to Wall Street Analysts and 8 Best Wind Power and Solar Stocks to Buy Right Now
Disclosure: None. Follow Insider Monkey on Google News.
