Duke Energy, a key player in supporting South Carolina’s growth, has provided an update to the Public Service Commission of South Carolina (PSCSC) on the need for additional energy generation resources. The state’s booming population and expanding economy have led to an unprecedented demand for energy.
“We’re already projecting eight times the load growth we anticipated just two years ago,” said Mike Callahan, Duke Energy’s South Carolina president. “To meet customer needs, we’re proposing more of nearly every resource available to us as we maintain our diverse, ‘all of the above’ approach to maintain reliability and affordability.”
Duke Energy’s Carolinas Resource Plan, originally proposed in August 2023, aims to deliver a path to cleaner energy while ensuring grid reliability, energy affordability, and meeting the energy demands of a growing region. The plan includes a combination of traditional dispatchable resources like advanced nuclear, natural gas, and pumped hydro storage, along with an increasing amount of complementary renewables.
In response to the higher growth outlook, Duke Energy has proposed the construction of a new combined cycle gas plant in South Carolina. The company is also considering the potential of wind generation off the North Carolina coast, pending necessary regulatory approvals and support.
“We must have a diverse energy mix to account for the coldest winter nights and the warmest summer days,” Callahan explained. “We need power – a lot of it – and we need to take action today.”
The plan also includes aggressive energy efficiency and demand side management programs, which aim to reduce peak energy use by nearly 2.8 gigawatts by 2038. This comprehensive approach ensures that power is available when customers need it, at an affordable cost.
The PSCSC has approved Duke Energy’s proposal to provide additional information and has reset the regulatory schedule for the evaluation process. A hearing is planned for mid-September, where the information will be thoroughly evaluated, and a path forward will be ordered, likely in November 2024.
Duke Energy serves around 830,000 households and businesses in South Carolina through its utilities, Duke Energy Carolinas and Duke Energy Progress. The company is one of America’s largest energy holding companies, serving 8.2 million customers across multiple states.
As South Carolina continues to experience rapid population growth and economic development, Duke Energy is taking proactive steps to meet the state’s growing energy demand. By diversifying its energy mix and incorporating renewable resources, the company aims to ensure reliability, affordability, and a sustainable energy future for South Carolina.
