Duke Preps for Gas, Renewable Buildouts as Record Demand Looms

May 7, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--Higher electricity rates, strong retail sales and a chilly winter were good news for Duke Energy Corporation (NYSE:DUK) (Charlotte, North Carolina) in the first quarter of 2025, as the company prepared for what the U.S. Energy Information Administration (EIA) expects will be record-high U.S. power demand in 2025 and 2026. The outlook affirms Duke's earlier decision to raise its five-year capital expenditure plan to $83 billion, largely in response to growing demand from the data-center and domestic manufacturing markets. Industrial Info is tracking more than $17 billion worth of active and proposed projects from Duke, more than 85% of which is attributed to power-generation projects. Natural gas is expected to see more demand in the coming years than any other power-generation source, and Duke is responding with major projects in North Carolina, Florida and elsewhere.