Duke's $584M NC Gas Peaker Denied Over Data Center Cost Worries

Duke Energy's proposal for a 255-MW gas plant in North Carolina was rejected by regulators, citing uncertainty in data center growth and consumer risk. The plant was part of Duke's plan to meet rising energy demand. The Utilities Commission rarely denies Duke's permits, but deemed this one premature.

The North Carolina Utilities Commission denied Duke Energy permission to build a new $584 million gas plant, citing concerns about timing, cost allocation to data centers, and compliance with the White House Ratepayer Protection Pledge. Duke plans to review the decision and consider next steps. The commission's decision is rare and highlights skepticism about cost implications for ratepayers.

North Carolina regulators rejected Duke Energy's $584M gas turbine proposal, citing insufficient evidence of need and cost protection for customers. The project, near Amazon's data center, can be reapplied for with more demand, cost, and alternative options data. Duke claims large customers cover connection costs, but regulators want clarity on protections and funding.

Duke Energy (DUK) reported Q2 2026 earnings with EPS of $24.52, beating estimates by $2.14, but missed revenue expectations by $1.15B. The company highlighted 14.4% adjusted YoY EPS growth, reaffirmed guidance, and strong capital deployment plans. Key risks include higher expenses and regulatory scrutiny.

Duke Energy (DUK) reported Q2 2026 earnings of $1.43 per share, beating expectations despite lower revenues and higher interest expenses. The stock has underperformed recently, with a 30-day return of -3.7% and a 90-day return of -1.5%. Analysts debate its valuation, with some arguing it's undervalued at $120.22 per share due to long-term capital projects and grid investments, while others suggest it's overvalued based on discounted cash flow models.

Duke Energy (DUK) reported Q2 2026 earnings of $1.43 per share, beating expectations, though revenue slightly missed forecasts. The company plans to cut customer rates in Florida in 2027 due to lower fuel costs and tax benefits. Duke projects $37.7B revenue and $6.4B earnings by 2029, requiring 4.8% yearly revenue growth. Rising interest expenses remain a key risk.