Duke Energy has submitted its 2025 Carolinas Resource Plan to the North Carolina Utilities Commission, outlining a strategy to address growing electricity demand in North and South Carolina while aiming to keep customer costs below inflation rates. The plan projects an average annual bill increase of 2.1% over the next decade, which is lower than the current rate of inflation and less than what was forecasted in the previous plan.
Kendal Bowman, Duke Energy’s North Carolina president, stated, “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 resource plan responds to significant increases in electricity demand across both states. In 2025 alone, companies have announced projects that are expected to create more than 25,000 jobs and bring $19 billion in investments to North Carolina, much of it for new manufacturing facilities. Over the next 15 years, energy needs are anticipated to grow at eight times the rate seen in the previous 15 years.
The plan also incorporates recent policy changes at both state and federal levels. New legislation emphasizes reliability while federal regulations and tax credits support advanced nuclear technology and battery storage. These incentives also provide flexibility for coal and natural gas generation.
Key elements of Duke Energy’s recommended energy mix include evaluating large light-water reactor (LLWR) nuclear technology alongside small modular reactors (SMRs), with potential new nuclear generation targeted for service by 2037 at sites in North Carolina or South Carolina. The company plans to maintain five combined-cycle natural gas units as previously modeled but will add two more combustion turbines for peak demand needs. Enhanced liquified natural gas storage is also proposed.
For renewable resources, Duke Energy aims for 4,000 megawatts (MW) of solar capacity by 2034 through competitive bidding processes and plans to expand battery storage capacity to 5,600 MW—an increase from earlier projections—to help manage near-term growth and take advantage of available tax credits. Wind power is not considered economically viable through 2040 but will be reassessed during future updates.
Pumped storage hydro development will be limited in the near term as part of efforts to control grid upgrade costs; expansion at Bad Creek has been deferred until at least 2040. Recent federal actions easing restrictions on coal generation have led Duke Energy to consider extending operations at some dual-fuel coal units by two to four years before phasing them out as previously approved by regulators.
Bowman added, “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.” She noted that nearly 300 MW of clean capacity are being added through upgrades at four nuclear stations; pumped storage capacity has already increased by another 280 MW; upgrades are planned for seven hydro plants; and improvements are underway across its natural gas fleet.
All resource amounts and target dates will continue being updated in future filings so that Duke Energy can adapt as technologies advance or policies change.
This latest filing builds on the Carolinas Resource Plan approved last year by regulators. Since then, Duke Energy has sought approval from regulators to combine its two electric utilities operating in each state—Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP). If approved, this merger could save customers over $1 billion due primarily to reduced need for new infrastructure compared with keeping DEC and DEP separate.
Hearings on the resource plan are expected in North Carolina during 2026 with a decision anticipated by December that year. An updated filing with South Carolina regulators is planned later this year incorporating information from this latest plan.
Duke Energy Carolinas supplies electricity across a service area covering parts of both states with a total capacity of about 20,800 MW serving approximately 2.9 million customers. Its counterpart DEP provides about 13,800 MW serving around 1.8 million customers over a slightly larger area.
Duke Energy serves millions of electric utility customers across several states including Florida but remains focused on modernizing infrastructure within its Carolinas system through investments in grid upgrades and cleaner energy sources such as renewables, nuclear power, natural gas plants, and energy storage solutions.
More details can be found on duke-energy.com or via their social media channels.
