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CHARLOTTE, N.C., Oct. 1, 2025 /PRNewswire/ -- Duke Energy today filed its biennial long-range energy modernization plan for its dual-state system with the North Carolina Utilities Commission.
The 2025 Carolinas Resource Plan is Duke Energy's road map to serve customer growth needs while protecting reliability and keeping costs as low as possible. Customer bill impacts for the proposed plan are projected to average 2.1% annually over the coming decade – lower than the rate of inflation and significantly less than projected costs for the previously approved plan.
Our view:
"North Carolina is the top state for business, and our focus is on ensuring Duke Energy's low energy rates continue to support this region's economic success," said Kendal Bowman, Duke Energy's North Carolina president. "By expanding our diverse generation portfolio and maximizing our existing power plants to meet growth needs, we will ensure reliable energy while saving all our customers money."
The big picture:
The plan reflects rising electricity demand across the Carolinas at an unprecedented pace, driven by the economic success of North Carolina and South Carolina. So far in 2025, companies have announced new projects delivering more than 25,000 jobs and $19 billion in investments in North Carolina, most of which are for new manufacturing facilities.
Across the Carolinas, customer energy needs over the next 15 years are expected to grow at eight times the growth rate of the prior 15 years. To put this in perspective, that projected increase in energy use is more than double the growth forecasted when the 2023 Carolinas Resource Plan was initially filed.
The 2025 Carolinas Resource Plan also adapts to significant policy changes at state and federal levels. Recent energy legislation in both states emphasizes reliability, while changes in federal regulations and tax credits support advanced nuclear and battery storage and provide flexibility for existing coal and new natural gas generation.
To minimize the plan's future costs for customers while maintaining reliability and powering growth, the company's recommended energy mix has evolved accordingly. Compared to the prior plan, changes in proposed resource actions include:
Yes and:
"We've also made further progress in maximizing the value of existing resources, making them more efficient and able to deliver more electricity to meet near-term growth needs while minimizing costs to customers," Bowman said.
For example, the company is:
As is the case with this two-year update, all resource amounts and target dates will be updated in future filings, allowing Duke Energy to continue adapting to technological advances, federal and state incentives and policy changes, and other factors beneficial to customers.
Flashback:
The plan builds upon the 2023 Carolinas Resource Plan approved by North Carolina and South Carolina regulators in 2024. Since that time, Duke Energy filed plans with regulators to combine its two electric utilities operating in each state, Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP). If approved, the combination is projected to save customers more than $1 billion in future costs – in large part by needing to build fewer resources to meet growth needs than would be required if DEC and DEP continue as separate utilities.
What's next:
The North Carolina Utilities Commission will hold hearings on the resource plan in 2026 – dates are still to be determined – and issue an order by Dec. 31, 2026. Later this year, Duke Energy will also file a resource plan update with the Public Service Commission of South Carolina, incorporating information from the 2025 Carolinas Resource Plan.
Duke Energy Carolinas
Duke Energy Carolinas, a subsidiary of Duke Energy, owns 20,800 megawatts of energy capacity, supplying electricity to 2.9 million residential, commercial and industrial customers across a 24,000-square-mile service area in North Carolina and South Carolina.
Duke Energy Progress
Duke Energy Progress, a subsidiary of Duke Energy, owns 13,800 megawatts of energy capacity, supplying electricity to 1.8 million residential, commercial and industrial customers across a 28,000-square-mile service area in North Carolina and South Carolina.
Duke Energy
Duke 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 8.6 million customers in North Carolina, South Carolina, Florida, Indiana, Ohio and Kentucky, and collectively own 55,100 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: Bill Norton
24-hour media line: 800.559.3853
SOURCE Duke Energy
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