DUK · Earnings call · 2026Q3T · Full report
Data Center Power Agreements
Duke Energy CORP · 2026-11-04 · Importance 60 · Surprise 42 · In source text
Duke said 5.2 gigawatts of data centers under construction remain on schedule to begin taking energy in the second half of 2027 and into 2028. It is working to convert a 15.4-gigawatt late-stage large-load pipeline into electric service agreements by the first half of 2027, with multiple projects executing preliminary agreements and providing deposits for initial transmission work during the quarter. Management said negotiations are progressing but take time because of the complexity of contract terms, and it counts projects only once they reach the durable ESA stage. The company also said its North Carolina large-load tariff settlement formalizes customer protections, including minimum demand charges, early termination penalties, interruptibility, credit support and capital advances.
Key facts
- Duke Energy said its large-load tariffs are intended to ensure large customers cover their service costs and provide billions of dollars in benefits over the life of their contracts.
- Duke Energy expects to convert its full 15.4-gigawatt late-stage pipeline to ESAs by the first half of 2027.
- Duke Energy expects to sign some Indiana ESAs before the end of the first half of 2027.
- Duke Energy expects to sign the remaining pipeline projects between the call date and the first half of 2027.
- Duke Energy said multiple prospective large-load projects executed preliminary agreements during the quarter and provided deposits for initial transmission system work.
- Duke Energy said the remaining 7.6 gigawatts of its 15.4-gigawatt pipeline was not yet signed, while 7.8 gigawatts had been signed.
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | probable | — | Duke Energy said its large-load tariffs are intended to ensure large customers cover their service costs and provide billions of dollars… |
| revenue | positive | probable | — | Duke Energy expects to convert its full 15.4-gigawatt late-stage pipeline to ESAs by the first half of 2027. |
| revenue | positive | probable | — | Duke Energy expects to sign some Indiana ESAs before the end of the first half of 2027. |
| revenue | positive | probable | — | Duke Energy expects to sign the remaining pipeline projects between the call date and the first half of 2027. |