Duke Energy maintains $103B plan focused on natural gas despite election shifts

Duke Energy is proceeding with its $103 billion spending plan centered on new natural gas generation, maintaining a large-load pipeline of 15.4 gigawatts (GW) that has remained stable since early 2026, Utility Dive reported.

The company’s CEO, Harry Sideris, stated during a third quarter earnings call that despite a 'historic' election night with candidates advocating for limits on data centers, Duke Energy's growth strategy remains unchanged.

The 15.4 GW pipeline includes 7.8 GW of signed electric service agreements, which is an increase of 200 megawatts from the first quarter. The remaining 7.6 GW is progressing but taking longer due to complexities in the environment.

By 2031, Duke Energy plans to build 4.8 GW of battery storage and over 10 GW of new natural gas generation, with about 5 GW already under construction in North Carolina and Indiana. The company has secured roughly one-third of the $10 billion in equity planned to support this growth.

Turbines and gas supply contracts are in place for the new projects, and Duke Energy is actively exploring further opportunities to meet demand and support state economic growth, according to the company’s CFO, Brian Savoy.