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Duke Energy's Vision for a Modern Energy Future

Duke Energy has officially filed its 2025 Carolinas Resource Plan with regulators from the North Carolina Utilities Commission, marking a significant step in its ongoing efforts to modernize energy infrastructure across the Carolinas. This long-range plan is designed not only to accommodate the anticipated growth in energy demand but also to ensure reliability and affordability for their customers.

Meeting Rising Energy Demand

The 2025 plan is a comprehensive roadmap aligning with the increasing electricity needs across North and South Carolina, driven by an extraordinary economic surge. In 2025 alone, more than 25,000 new jobs were generated by various companies, resulting in $19 billion of investments primarily aimed at new manufacturing facilities in North Carolina. This mounting demand reflects an expected eightfold increase in customer energy needs over the next 15 years compared to the previous 15 years, showing a robust economic backdrop.

Economic Efficiency Through Smart Planning

Duke Energy is committed to maintaining its position as a leader in energy reliability while also managing costs effectively. The company estimates that the new proposed plan will limit customer bill impacts to an average of just 2.1 percent annually for the next decade—a rate notably lower than inflation and significantly more cost-effective than previously approved plans.

Kendal Bowman, president of Duke Energy in North Carolina, emphasized the company's focus on expanding its diverse energy generation portfolio while maximizing the use of its existing facilities. This will ensure a reliable energy supply, continue to save customers money, and support the region’s economic success.

Key Resource Strategy Components

The 2025 Carolinas Resource Plan outlined several innovative strategies for resource development:

• - Nuclear Energy Development: The plan now includes large light-water reactor (LLWR) technology alongside small modular reactors (SMRs), which are expected to come online by 2037. This mixed approach to nuclear energy aims to enhance the state's capabilities in clean energy generation.
• - Natural Gas Utilization: The plan retains the five combined-cycle units identified in previous modeling while increasing the combustion turbines fleet to meet peak demand. Enhancements in liquefied natural gas storage will also help mitigate fuel cost volatility and increase energy reliability.
• - Solar and Renewable Energy Goals: Duke Energy targets 4,000 megawatts of solar energy by 2034 while expanding battery storage capacity to 5,600 megawatts, accommodating both near-term growth and leveraging federal tax credit benefits for customers.
• - Future of Wind Energy: Wind energy is currently not seen as economically viable for customers through 2040, although it's slated for reassessment in upcoming plans.

Leveraging Existing Resources

Beyond new resource initiatives, Duke Energy is committed to maximizing existing power plants' efficiency for sustainable growth. Recent upgrades are adding nearly 300 megawatts of clean capacity through enhancements at four nuclear sites, an additional 280 megawatts at its pumped storage facilities, and several improvements to its natural gas operations aimed at reducing costs and emissions.

The flexibility within the 2025 Resource Plan is important, as it will evolve with ongoing technology advancements, changes in federal and state policies, and customer-focused incentives. This adaptability is crucial for maintaining service reliability and affordability as energy demands grow.

Looking Ahead

The North Carolina Utilities Commission will review the plan, with hearings expected in 2026, while Duke Energy is also preparing to submit updates to the South Carolina Public Service Commission later this year. These steps ensure that the company remains responsive to the dynamic energy landscape and customer needs, paving the way for a sustainable energy future in the Carolinas.

Duke Energy continues to lead in energy innovation while investing significantly in grid upgrades, cleaner generation methods, and energy efficiency improvements. By aligning their strategies with anticipated growth, they aim to deliver reliable energy while keeping costs manageable for their customers. Through transparency and proactive planning, Duke Energy stands ready to support both the economic prosperity of the Carolinas and the transition to a cleaner energy future.