In fact, to satisfy 43 anticipated large-load projects through 2035, Duke has already added 8 gigawatts to its demand projections in the Carolinas, noted John Wilson, expert witness for the Southern Environmental Law Center. The company is using those predictions to help justify a whopping 9.7 gigawatts of new gas plants in the same time frame.
“The scale of these investments and others will literally reshape Duke Energy through a 2025-2029 corporate capital plan of $87 billion, compared to $190 billion in current assets,” Wilson testified. “In other words, Duke Energy’s corporate assets could increase by nearly 50% over the next five years, with much of that growth on its electric system in North Carolina and South Carolina.”
On behalf of the Southern Alliance for Clean Energy, the North Carolina Housing Coalition, Vote Solar, and other nonprofits, the Southern Environmental Law Center is advocating a 9.1% return on equity. The change could save customers $370 million, it says. The office of the attorney general wants an even lower return of 7.4%.
“The status quo is untenable”
The advocacy groups are also pushing for major energy users to be put into a new customer class that would be subject to special rules and rates — a scheme called a “large load tariff.”
