Duke Energy (DUK) Company Report

Duke Energy Florida launched the DeBary Hydrogen Production Storage System, the first U.S. demonstration capable of end-to-end production, storage and combustion of up to 100% green hydrogen.
The system uses solar-powered electrolyzers to produce hydrogen, stores it safely, and powers an upgraded GE Vernova combustion turbine on a natural gas–hydrogen blend or pure hydrogen to meet peak demand.
By integrating green hydrogen, Duke Energy Florida aims to diversify its generation mix, enhance grid flexibility, and support renewable energy expansion for its 2 million customers in a 13,000-square-mile service area.

5 days ago

Press Release

Duke Energy gets SC approval for bill changes and reliability investments

DUK

New Projects/Investments

Debt Issuance

South Carolina regulators approved changes to Duke Energy Carolinas and Duke Energy Progress customer bills to recover Hurricane Helene recovery, grid resilience and plant upgrade costs via securitization, saving DEC customers over $140 million on storm expenses.
Typical residential DEP bills (1,000 kWh) will rise $11.20 to $165.02 starting Feb. 1, and DEC bills will rise $0.84 to $148.86 starting Mar. 1.
Grid upgrades include nearly tripling coverage of self-healing technology—now benefiting 70% of South Carolina customers—and anticipated nuclear tax credits to generate hundreds of millions in annual customer savings beginning in 2026.
A proposed 2026 combination of DEC and DEP could save Carolinas customers over $1 billion in future costs if approved.

Jan 2, 2026, 2:10 PM

Press Release

Duke Energy submits early site permit application for potential nuclear development

DUK

New Projects/Investments

Duke Energy submitted an Early Site Permit (ESP) application to the U.S. Nuclear Regulatory Commission for a site near its Belews Creek Steam Station, following two years of preparatory work.
The technology-neutral ESP covers six reactor designs—including four small modular reactors and two non-light-water options—excluding large light-water reactors.
Approval of the ESP would mitigate licensing and construction risks and provide optional future development of new nuclear units at the site.
If further evaluations favor small modular reactors, Duke Energy aims to add 600 MW by 2037, with the first SMR expected online in 2036.

Dec 30, 2025, 1:58 PM

Press Release

Duke Energy Florida infrastructure investments to save customers over $1 billion

DUK

New Projects/Investments

Duke Energy Florida’s 2025 grid and generation upgrades will deliver over $1 billion in customer savings through reduced fuel and operating costs.
Residential bills are projected to drop by $44 per 1,000 kWh (≈22%) by March 2026 versus January levels.
Completion of three new solar sites in 2025 will save an estimated $750 million in displaced fuel costs, with eight more sites due by end of 2027.
Power plant enhancements replicate the output of a new facility, yielding $350 million in fuel savings and cutting bills by $10 per month.
Storm hardening (2,000+ poles replaced) and expanded self-healing technology prevented over 215,000 hours of outages in 2025.

Dec 29, 2025, 3:59 PM

Press Release

Duke Energy joins DOE-backed SMR deployment project

DUK

New Projects/Investments

DOE announced a $400 million grant to TVA for deploying GE Vernova Hitachi’s BWRX-300 small modular reactor, with Duke Energy participating in the cost-share project to advance its nuclear strategy.
The collaboration with TVA and GVH aims to develop a standardized SMR design, leveraging industry lessons to reduce costs and risks.
Duke Energy plans to submit an early site permit application for potential SMR deployment at its Belews Creek site by year-end.
SMRs are expected to enhance grid reliability and support economic growth while aligning with Duke Energy’s goal of delivering reliable, affordable, carbon-free energy.

Dec 4, 2025, 5:20 PM

Press Release

Duke Energy files 2025 rate cases for Carolinas utilities

DUK

On November 20, 2025, Duke Energy Carolinas (DEC) and Duke Energy Progress (DEP) filed 2025 rate case applications with the North Carolina Utilities Commission seeking Performance Based Regulation mechanisms, including a 2-year Multi-Year Rate Plan, residential decoupling, performance incentive mechanisms and an earnings sharing mechanism.
If approved, DEC’s net retail revenue would increase by $727 million (10.9%) in year one and $275 million (4.1%) in year two (total 15.0%), while DEP’s request totals $528 million (10.9%) and $200 million (4.1%) (total 15.1%).
Both utilities propose an ROE of 10.95% with a 53% equity component (overall rate of return of 7.92%), seek recovery of deferred coal ash closure costs and establishment of storm reserves.
The companies requested an effective date for the new rates of January 1, 2027, with hearings expected to commence in Q3 2026.

Nov 20, 2025, 9:33 PM

8-K

Duke Energy proposes North Carolina rate increase and grid investments

DUK

New Projects/Investments

Duke Energy filed with the North Carolina Utilities Commission for a 15% revenue increase, requesting $1 billion for Duke Energy Carolinas and $729 million for Duke Energy Progress based on a 10.95% return on equity and 53% equity structure.
If approved, monthly bills for typical residential customers (1,000 kWh/mo) would rise by $17.22 for Carolinas and $23.11 for Progress starting Jan 1, 2027, with further increases in 2028.
The 2027–2028 multiyear rate plan includes $1.7 billion in battery storage and $400 million in solar projects, alongside grid-hardening upgrades—self-healing technology now covers 75% of customers, avoiding over 1.1 million outages in the first 10 months of 2025.
Duke Energy Carolinas and Progress jointly serve 4.7 million customers with 34,600 MW of capacity; a proposed merger of the two utilities could yield over $1 billion in future cost savings.

Nov 20, 2025, 9:29 PM

Press Release

Duke Energy Carolinas reaches settlement in South Carolina rate case

DUK

Legal Proceedings

On November 11, 2025, Duke Energy Carolinas and intervening parties filed a partial settlement resolving all revenue requirement issues in its South Carolina base rate proceeding initiated July 1, 2025.
The stipulation provides for a $74 million annual customer rate increase before PTC flow-back, and a $19 million net increase (average 1.0% across retail customers).
Agreed financial terms include a 9.99% ROE based on a 53% equity/47% debt capital structure, a 7.41% overall rate of return, and a South Carolina retail rate base of $7.9 billion.
The agreement calls for $100 million of Production Tax Credit flow-back over 22 months, shifting in 2028 to a four-year amortization of actual PTCs.

Nov 12, 2025, 11:30 AM

8-K

Duke Energy reports Q3 2025 results

DUK

Earnings

Guidance Update

New Projects/Investments

Duke Energy delivered adjusted EPS of $1.81, up from $1.62 a year ago, representing 11% year-over-year growth in Q3 2025.
The company narrowed full-year 2025 EPS guidance to $6.25–$6.35 and reaffirmed its long-term EPS growth target of 5%–7% through 2029, with the top half of that range expected beginning in 2028.
Duke Energy’s five-year capital plan was increased to $95 billion–$105 billion, primarily to support an ambitious generation build that will add over 13 GW of capacity and drive more than 8.5% earnings base growth through 2030.
In 2025, Duke signed ~3 GW of energy service agreements with data centers and secured $11 billion in capital commitments from other commercial and industrial customers, underpinning projected load growth and job creation.
The company issued North Carolina storm securitization bonds—projected to save customers up to 18% versus traditional recovery—and expects South Carolina bonds by year-end; Duke Energy targets >14% FFO/debt by year-end and 15% long-term.

Nov 7, 2025, 3:00 PM

Transcript

Duke Energy reports Q3 2025 results and updates guidance

DUK

Earnings

Guidance Update

New Projects/Investments

Adjusted EPS of $1.81, up 11% year-over-year from $1.62, and narrowed full-year 2025 EPS guidance to $6.25–$6.35
Reaffirmed long-term EPS growth goal of 5–7% through 2029, with confidence in the top half of the range starting in 2028
Raised five-year capital plan to $95–$105 billion to fund an ambitious 13 GW generation and grid modernization build
Secured ~3 GW of data center ESAs and $11 billion of industrial commitments, supporting 25,000 jobs in 2025
Issued/planned storm securitization bonds in the Carolinas to save customers up to 18%, targeting >14% FFO/debt in 2025 and 15% long-term