North Carolina Regulators Reject Duke Energy Gas Power Plant

North Carolina regulators rejected Duke Energy's $500M gas plant application, citing consumer protection concerns. The plant was to supply an Amazon complex. The decision comes amid U.S. growth in gas-fired generation, partly due to data center expansion. Global Energy Monitor reports a 50% increase in U.S. gas generation capacity since January, with $647B in potential capital expenditures.

Duke Energy (DUK) appointed Joyce Mullen, CEO of Insight Enterprises, to its board and key committees. The company also filed to decommission hydropower units at the Great Falls powerhouse. Mullen's tech background aligns with Duke's data center and AI-focused initiatives. The hydropower decommissioning is seen as routine. Duke plans a $10B equity issuance between 2027 and 2030, with financial flexibility a key focus.

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.

North Carolina Utilities Commission denied Duke Energy Progress's $584M proposal for a 255MW gas-fired power plant due to concerns over data center usage and costs. The decision was 3-1, with Republican appointees voting against and a Democrat in favor.

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.