Fourth Quarter 2023 Earnings Review and Business Update
Retail electric volumes
EXPECT 2023 2028 LOAD
-
GROWTH OF 1.5-2%
Continued residential customer growth from
population migration
2.1% customer growth in the Carolinas and
2% in Florida from 2022 to 2023
Residential decoupling effective for both
North Carolina utilities in 2024
Economic development continues to be robust
FORECASTED 2024 RETAIL
ELECTRIC VOLUMES(1)
2-3%
1.5-2%
-2%
PROJECTED GROWTH FROM
ECONOMIC DEVELOPMENT (GWh)(3)
~5,000 -
8,000
-3,500 -
~1,000 -
2,000
4,500
~10,000 -
16,000
~8,000 -
13,000
2024
2025
2026
2027
2028
2028 ECONOMIC DEVELOPMENT
FORECAST BY INDUSTRY
10%
25%
65%
Commercial
Residential
Total Retail
& Industrial(2)
■ Manufacturing
■ Data Centers
■ Other
(1) Compared to 2023 actuals
(2) Forecast contemplates commercial growth of ~0-1% and industrial growth of ~3-6%
(3) GWh additions represent cumulative annual impact
DUKE
ENERGY.
FOURTH QUARTER 2023 EARNINGS REVIEW AND BUSINESS UPDATE
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