North Carolina, Charlotte: Duke Energy executives have signalled that the company’s next capital expenditure (capex) plan could surpass $100 B, reflecting accelerating investment needs across transmission, distribution, and generation assets in response to rising power demand.
According to remarks shared during the company’s recent earnings call, Duke’s upcoming five-year capex cycle may mark one of the largest in its history, surpassing its current $73 B plan. The anticipated increase reflects surging electricity demand from data centres, electrification projects, and industrial growth, as well as the utility’s continued efforts to modernise ageing infrastructure.
A substantial portion of the proposed spending will go toward grid modernisation, including substation upgrades, undergrounding, and expanded deployment of high-voltage equipment. These projects are expected to significantly boost demand for switchgear, transformers, and protection systems across Duke’s service territories in the Carolinas, Florida, Indiana, Ohio, and Kentucky.
Executives noted that Duke is evaluating supply chain capabilities to meet future project timelines and ensure resilience in the delivery of critical grid components. Industry observers say the company’s forward plan could have far-reaching implications for manufacturers of medium- and high-voltage equipment, given the scale and speed of projected infrastructure expansion.
The utility has yet to finalise details of the new capex plan, but confirmation is expected in early 2026, aligning with broader US utility trends that show record-level capital commitments for grid upgrades to support electrification and clean energy integration.
Source: T&D World
