Fourth Quarter 2023 Earnings Review and Business Update
Advancing Carolinas energy transition
SUPPLEMENTAL CAROLINAS RESOURCE
PLAN FILED IN NORTH CAROLINA AND
SOUTH CAROLINA ON JANUARY 31
Reflects significant growth in economic development
opportunities since August IRP filings and changes to
technology costs
☐
■
Peak load has increased by ~2 GW in 2030
Continues to retire coal by 2035
Preserves optionality for long lead-time resources,
including offshore wind
Single, unified integrated resource plan filed with both
North Carolina and South Carolina
Maintains "all of the above" strategy calling for a diverse
deployment of new technologies
Expect to file CPCNs in 2024 in North Carolina for over
2 GWs of natural gas
Next Steps
Hearing Scheduled
to Begin
Order
Expected
North Carolina
July 22, 2024
Q4 2024
South Carolina
September 16, 2024
Q4 2024
NEAR-TERM ACTION PLAN
HIGHLIGHTS
☐
6,500 MW of new solar in-
service by 2031
2,700 MW of battery storage
in-service by 2031
8,900 MW of natural gas in-
service by 2033
O 1,200 MW of onshore wind in-
service by 2033
■ Early development costs for
Bad Creek II pumped storage
hydro
■ Evaluate reactor technologies
and develop Early Site Permit
for advanced nuclear
DUKE
ENERGY
FOURTH QUARTER 2023 EARNINGS REVIEW AND BUSINESS UPDATE
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