Duke’s generation portfolio totals about 5.5 gigawatts of capacity and includes one of the largest regulated nuclear fleets in the country. Six nuclear units—located at Brunswick, McGuire, Catawba, Oconee, and Robinson stations in North and South Carolina—provide a substantial portion of baseload output. Roughly one-third of the gigawatt-hours sold across the system go to commercial and industrial customers, with the balance supplied to the residential segment.
Following the renewables divestiture, management has identified transmission upgrades and utility-scale renewable projects within state regulatory frameworks as core investment priorities. Expansion plans center on modernizing high-voltage lines to accommodate growing demand and integrating additional solar and onshore wind assets that will remain under rate-regulated cost recovery mechanisms. The strategy aims to reinforce grid reliability while positioning Duke to meet evolving state clean-energy mandates and customer sustainability commitments.
On the market side, third-party equity research released on February 11, 2026 characterized Duke Energy’s share price as “bullish in the intermediate term,” citing technical indicators tracked by the analysts. The same research cycle included new target-price assumptions for several industry peers but highlighted Duke’s transition to nearly full regulation as a factor that may temper earnings volatility relative to independent power producers.
Regulated status typically allows utilities to recover capital expenditures and earn a stated return authorized by public service commissions. For Duke, that framework supports multiyear capital plans aimed at hardening infrastructure and expanding renewable generation without the merchant-market exposure formerly associated with the Commercial Renewables portfolio.
Natural gas distribution remains another regulated cornerstone. The company supplies 1.8 million gas customers across five states, leveraging existing pipeline systems and storage assets. Gas operations complement Duke’s electric business by supporting dual-fuel power plants and offering residential and commercial customers an additional energy option under state oversight.
Duke’s geographic reach provides a diversified customer base. In Florida, rapid population growth drives load increases, while industrial users in the Midwest contribute sizeable commercial demand. The Carolinas benefit from technology and manufacturing investment, creating further opportunities for load growth that dovetails with Duke’s planned transmission enhancements.
In the regulatory arena, each state commission reviews proposed capital projects to determine prudent cost recovery. Duke continues to file multiyear plans outlining grid modernization, advanced metering deployment and the addition of solar arrays sized for utility ownership. According to the U.S. Energy Information Administration, the Southeast remains a focal point for new nuclear and solar capacity, a trend Duke seeks to capitalize on through its existing nuclear fleet and expanding renewable pipeline.
Looking ahead, the company’s investment thesis hinges on the stability afforded by regulated revenue, the incremental earnings potential of approved capital expenditures and continued customer growth across its service territories. Management’s emphasis on transmission and state-approved renewables signals an intention to align with both regulatory expectations and broader energy-transition objectives.
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