DUK · Earnings call · 2026Q3T · Full report

Generation Capacity Expansion

Duke Energy CORP · 2026-11-04 · Importance 64 · Surprise 50

Duke is advancing a generation expansion program intended to add 16 gigawatts of capacity by 2031, using an all-of-the-above approach that includes combined-cycle plants, combustion turbines, battery storage and solar. Management said more than 5 gigawatts of natural gas capacity is under construction in the Carolinas and Indiana, with another 5 gigawatts in development. The company received approval for the Anderson County combined-cycle plant and prefiled certificates for two combined-cycle plants totaling nearly 2,800 megawatts at the Davie-Davidson site in North Carolina. Management also cited about 5 gigawatts of batteries and solar in the system as part of the ongoing build.

Key facts

• Duke Energy's generation expansion program plans to add 16 gigawatts of capacity by 2031.
• Duke Energy's 2026 Carolinas Resource Plan includes additional combined cycles, combustion turbines, increased battery storage, and continued solar development.
• Duke Energy has more than 5 gigawatts of natural gas generation under construction in the Carolinas and Indiana and another 5 gigawatts in development.
• Duke Energy prefiled CPCNs for two combined-cycle plants totaling nearly 2,800 megawatts at the Davie-Davidson site in North Carolina and expects to file CPCNs early in 2027.
• Duke Energy received North Carolina Commission approval for its first out-of-state CPCN filing for the Anderson County combined-cycle plant and a construction monitoring request for the first Person County unit.
• Duke Energy's Smith combustion-turbine CPCN was denied by the commission; the company said it would reevaluate what to do after the IRP decision.
• The South Carolina commission is scheduled to hold a hearing on Duke Energy's resource plan in April 2027 and issue an order by June 2027.
• Duke Energy filed its 2026 Carolinas Resource Plan in South Carolina in August.