Utilities are boosting spending as load growth accelerates. Here’s the rundown on business strategy c/o third-quarter earnings.
Vistra boosted its 2026 EBITDA guidance to $6.8–$7.6B and said ERCOT and PJM have sufficient off-peak headroom to absorb near-term data center growth. The company is planning 860 MW of new gas-fired capacity in West Texas by 2028 and a 10% nuclear uprate by the early 2030s.
Duke Energy is expanding its cap ex plan to $95–$105B through 2030, with 13 GW of new generation—including 7.5 GW of gas and multiple solar-plus-storage projects. Duke has already secured 3 GW in data center contracts and expects sustained load growth into the next decade.
Con Edison logged a 10.6% increase in Q3 electric revenues after its latest rate case. The utility outlined a $17B capital program through 2028 for transmission upgrades, 14 new substations, and resiliency work, targeting tighter reliability margins expected in New York City by 2026.