Duke Energy has submitted its 2025 Carolinas Resource Plan to the North Carolina Utilities Commission, outlining strategies to meet rising energy demand in North and South Carolina while maintaining reliability and controlling costs. The plan is an update to the version approved by state regulators last year.
The company projects that customer bill impacts under the proposed plan will average 2.1% annually over the next decade, a rate below inflation and lower than those anticipated in the previous plan.
“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,” said Kendal Bowman, Duke Energy’s North Carolina president. “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 rapid economic development in both states. In 2025 alone, companies have announced projects expected to bring more than 25,000 jobs and $19 billion in investments to North Carolina, much of it for new manufacturing facilities. Over the next 15 years, customer energy needs across the Carolinas are projected to grow at eight times the rate of the previous 15 years—more than double what was forecasted when Duke filed its 2023 plan.
Duke Energy’s recommendations reflect recent changes in state policy emphasizing reliability as well as federal regulatory shifts and tax credits that support advanced nuclear technologies and battery storage. The company proposes evaluating both large light-water reactors (LLWR) and small modular reactors (SMRs), targeting potential new nuclear capacity at Belews Creek in North Carolina or W.S. Lee site in South Carolina by 2037.
For natural gas generation, Duke plans to maintain five combined-cycle units for baseload needs while increasing combustion turbines from five to seven units for peak demand periods. The company also aims to enhance liquified natural gas storage capabilities.
In solar power, Duke is targeting a total of 4,000 megawatts (MW) by 2034 through competitive bidding processes. Battery storage targets have been increased from previous projections—now aiming for 5,600 MW by 2034—to address near-term growth and benefit from available tax credits. Wind resources are not considered economically viable through 2040 but will be reassessed during future updates.
Duke also plans limited near-term development of additional pumped storage hydro capacity at Bad Creek with a deferred service date from 2034 to 2040, which allows earlier completion of other key projects such as solar installations already underway.
Federal actions easing restrictions on coal-fired generation allow for possible two- to four-year extensions at some dual-fuel plants; however, Duke says it remains committed to an orderly transition away from coal as previously approved by regulators.
“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,” Bowman said.
Recent steps include adding nearly 300 MW of clean capacity through upgrades at four nuclear stations and boosting Bad Creek pumped storage output by another 280 MW. Upgrades are also planned for seven hydroelectric plants along with improvements across its natural gas fleet aimed at reducing fuel costs and emissions.
Future resource amounts and target dates may change as technological advances occur or incentives shift; these details will be updated in subsequent filings with regulators.
The latest filing builds on the resource plan approved last year. Since then, Duke has proposed combining its two electric utilities operating in each state—Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP)—a move expected to save customers over $1 billion mainly by reducing infrastructure needs if approved by regulators.
Hearings before the North Carolina Utilities Commission are scheduled for 2026 with a decision due by December that year; an updated filing will also be made with South Carolina’s Public Service Commission later this year using information from this current plan.
Duke Energy Carolinas supplies electricity across a service area covering parts of both states with a generating capacity of approximately 20,800 MW serving about 2.9 million customers. Duke Energy Progress provides power within a separate area totaling about 13,800 MW for around 1.8 million customers.
Parent company Duke Energy serves approximately 8.6 million electric customers across six states and owns about 55,100 MW of generating capacity nationwide.
