Duke Energy has submitted its 2025 Carolinas Resource Plan to the North Carolina Utilities Commission, outlining a strategy to address growing energy demand in North and South Carolina. The plan aims to maintain reliability and keep customer costs low, with projected average annual bill increases of 2.1% over the next decade, which is below the rate of inflation and lower than previous forecasts.
Kendal Bowman, Duke Energy’s North Carolina president, said, “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. 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 updated plan responds to rapid electricity demand increases in both states. In 2025 alone, companies announced new projects expected to bring more than 25,000 jobs and $19 billion in investments to North Carolina, primarily through new manufacturing facilities. Over the next 15 years, customer energy needs across the Carolinas are anticipated to grow at eight times the pace of the prior 15 years.
Duke Energy’s proposal incorporates changes in state and federal policy that emphasize reliability and support advanced nuclear technologies and battery storage. The company plans to evaluate large light-water reactor technology alongside small modular reactors for potential deployment by 2037 at sites in Belews Creek, N.C., or Cherokee County, S.C., with licensing activities expanded accordingly.
For natural gas resources, five combined-cycle units are maintained as previously modeled for baseload generation; two additional combustion turbines have been added for peak demand. Enhanced liquified natural gas storage is also included to help manage fuel cost volatility.
Solar generation targets remain at 4,000 megawatts by 2034. Battery storage capacity has been increased from earlier projections to reach 5,600 MW by that year. Wind power remains economically unviable through 2040 but will be reconsidered during future planning cycles.
Pumped storage hydro development at Bad Creek has been delayed until 2040 to reduce grid upgrade costs while accelerating other key projects such as solar installations already underway. Following recent federal actions easing restrictions on coal generation, some dual-fuel coal units may operate an additional two-to-four years before retirement.
Bowman noted ongoing efforts to improve efficiency: “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.” The company has added nearly 300 MW of clean capacity through upgrades at four nuclear stations and recommends similar enhancements at seven emissions-free hydro plants.
This resource plan builds on one approved last year by regulators in both states. Duke Energy has also proposed combining its two electric utilities operating separately in each state—Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP). If approved by regulators, this merger could save customers over $1 billion due largely to reduced infrastructure requirements compared with operating as separate entities.
Hearings on the resource plan are expected before the North Carolina Utilities Commission in 2026; a decision is anticipated by December of that year. An update will also be filed later this year with South Carolina regulators using information from this latest plan.
Duke Energy Carolinas serves about 2.9 million customers across a service area spanning North Carolina and South Carolina with an energy capacity of roughly 20,800 megawatts. Duke Energy Progress supplies approximately 1.8 million customers within a slightly larger service area totaling around 13,800 megawatts of capacity.
Headquartered in Charlotte, N.C., Duke Energy provides electricity for roughly https://www.duke-energy.com/our-company/about-us/fast-facts“8.6 million customers across six states” and operates natural gas utilities serving about https://www.duke-energy.com/our-company/about-us/fast-facts“1.7 million customers.” The company continues investing heavily in grid modernization and cleaner energy sources as part of its long-term transition strategy.
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