Duke Energy has submitted its 2025 Carolinas Resource Plan to the North Carolina Utilities Commission, outlining a strategy for modernizing the region’s energy infrastructure while addressing projected growth in electricity demand across North and South Carolina. The plan aims to keep customer bill increases below inflation rates, with an average annual rise of 2.1% over the next decade.
Kendal Bowman, president of Duke Energy North Carolina, 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 company noted that electricity demand in the Carolinas is expected to increase at eight times the rate of the previous 15 years. This surge is attributed to significant economic development; more than 25,000 jobs and $19 billion in investments have been announced in North Carolina so far in 2025, largely from new manufacturing projects.
To address these needs, Duke Energy’s updated plan includes several changes compared to its prior version. For nuclear energy, it now considers both large light-water reactors (LLWR) and small modular reactors (SMRs), targeting potential service by 2037 at either Belews Creek in North Carolina or W.S. Lee site in South Carolina.
In natural gas generation, five combined-cycle units are maintained as previously planned for baseload supply. The number of combustion turbines for peak periods increases from five to seven. Enhanced liquified natural gas storage is also proposed to reduce fuel cost volatility.
For solar power, Duke Energy targets adding 4,000 megawatts by 2034 through a competitive bidding process and plans to expand battery storage capacity to 5,600 megawatts—an increase of nearly 3,000 megawatts over earlier projections—to leverage available tax credits.
Wind resources remain excluded from near-term plans due to economic viability concerns but will be reassessed during future updates. Pumped storage hydro development at Bad Creek is deferred until after 2040; this change allows faster implementation of other key projects such as solar installations already underway.
Following federal regulatory changes easing restrictions on coal generation, Duke Energy may extend operations at some dual-fuel coal units for up to four additional years before retiring them as part of a managed exit strategy approved by regulators.
Bowman commented further: “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.” Examples include adding nearly 300 MW of clean capacity through upgrades at four nuclear stations and enhancing output at pumped storage sites like Bad Creek by another 280 MW.
The plan builds on the previous resource plan approved by state regulators last year. It incorporates anticipated savings from a proposed combination of Duke Energy’s two electric utilities operating within each state—Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP). If approved by regulators, this merger could save customers over $1 billion due primarily to reduced infrastructure requirements.
Hearings on the new resource plan are expected in 2026 before an order is issued by December that year. A related filing with South Carolina regulators will occur later this year using data from the current update.
Duke Energy Carolinas serves about 2.9 million customers with nearly 21 gigawatts of capacity across both states; Duke Energy Progress supplies another 1.8 million customers with roughly 14 gigawatts.
Duke Energy overall operates as one of America’s largest utility holding companies serving electric and natural gas customers across multiple states including Florida—a subsidiary known as Duke Energy Florida. The company continues investing heavily in grid upgrades and cleaner energy sources as part of its broader transition strategy.
