Regulated Utility
Charlotte-based regulated electric utility serving approximately 8.4 million customers across the Carolinas, Florida, Indiana, Ohio, and Kentucky. The dominant utility in the data center corridor developing across North and South Carolina, Duke is managing the largest demand growth surge in its service territory in decades, with data centers accounting for roughly 80% of new load forecasts.
Data Center Load Surge
Duke is tracking 37 GW of potential data center demand in the Carolinas — but has only contracted 1.5 GW with set connection dates starting in 2028. Data centers could drive 80% of load growth. Duke forecasts total demand growth of 16-60% over 15 years, depending on how many DCs actually get built.
Duke's 2025 Carolinas Resource Plan projects total net load growth of 16% to 60% over the next 15 years, a range that reflects the uncertainty in data center buildout timing and magnitude. The utility recorded a peak demand of 37,308 MW during a winter storm on January 27, 2026, a record for the service territory.
Regulatory and Policy Context
Duke is a regulated monopoly — all capital investment needs state commission approval. In 2026, Duke filed for a 15% rate hike (2-year, $8.3B infrastructure). Data centers are projected to drive 80% of Carolina load growth. Gov. Stein and AG Jackson both opposing. NCUC decision expected late 2026.
North Carolina's Energy Policy Task Force identified data center demand as a central issue for the state's grid planning in its 2026 report. Duke has studied data center load flexibility as a tool for managing peak demand, projecting up to $150 billion in system-wide savings if large customers can be dispatched to curtail during high-stress periods.
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