Duke Energy has submitted its biennial long-term energy modernization plan for its dual-state system to the North Carolina Utilities Commission. The 2025 Carolinas Resource Plan aims to address increasing electricity demand in North Carolina and South Carolina, while maintaining reliability and controlling costs for customers.
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 plan projects that customer bill impacts will average 2.1% annually over the next decade, which is below the rate of inflation and lower than estimates from previous plans. Electricity demand in the Carolinas is expected to increase at a rate eight times higher than in the past 15 years. This rise follows announcements of new projects bringing over 25,000 jobs and $19 billion in investments to North Carolina so far in 2025.
Key components of the proposed plan include evaluating large light-water reactor (LLWR) nuclear technology alongside small modular reactors (SMRs), with potential service as early as 2037 at sites such as Belews Creek in North Carolina or W.S. Lee in Cherokee County, South Carolina. For natural gas generation, five combined-cycle units are maintained from previous models, with two additional combustion turbines added for peak needs. The company also plans enhanced liquified natural gas storage to help manage fuel costs.
Solar generation targets remain at 4,000 megawatts by 2034. Battery storage capacity goals have increased significantly to 5,600 MW by 2034—an addition of nearly double what was projected previously—with installations planned across various sites including former coal plant locations.
Wind resources are not considered economically viable through 2040 but may be reassessed during future updates. Development of additional pumped storage hydro capacity at Bad Creek has been deferred until after crucial near-term projects come online.
Coal units with dual-fuel capability may see operational extensions of up to four years following eased federal restrictions; however, Duke Energy intends to continue an orderly exit from coal-fired generation as 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.”
Recent actions include adding almost 300 MW of clean capacity through power uprates at four nuclear stations and upgrading hydroelectric facilities such as Bad Creek by another 280 MW. The company is also enhancing its natural gas fleet for greater efficiency and lower emissions.
All resource amounts and target dates will be updated in future filings based on technological changes or policy developments.
This plan builds on Duke Energy’s previous resource strategy approved last year by both states’ regulators. In addition, Duke Energy has proposed combining its 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 needs compared with operating separately.
Hearings on the resource plan are scheduled for 2026 before a final order is issued by December that year; a similar update will be filed later this year with South Carolina authorities using information from this new plan.
Duke Energy Carolinas serves about 2.9 million customers across a service area covering both states; Duke Energy Progress serves approximately 1.8 million customers across a slightly larger area. Overall, parent company Duke Energy provides electric utility service for about 8.6 million customers across six states and operates substantial natural gas services as well.
