Duke Energy is expanding its multi-year capital plan to meet rising electricity demand from the data center sector. The utility signed service agreements to support several gigawatts of computing power in the Carolinas and the Midwest. Hyperscale operators are accelerating large-load requests for 2026 to secure power commitments.
Increased spending will fund transmission upgrades, new substations, and additional generation capacity. Duke Energy’s recent quarterly earnings exceeded analyst estimates. Rising electricity sales to commercial and industrial customers support the company's long-term growth framework.