Duke Energy just dropped the largest spending plan of any regulated US utility: $103B over five years. (Utility Dive)
That's $16B more than Duke’s previous plan. CEO Harry Sideris says the utility is already deploying over $1B in capital every month, with the pace expected to accelerate in 2027–28 as data centers start connecting.
To meet this demand, Duke plans to add 14 GW of new generation and 4.5 GW of battery storage over the next half-decade. This includes breaking ground on 5 GW of gas plants and an SMR permit in North Carolina.
To fund the buildout, Duke plans to issue $10B in new equity by 2030.