Duke Energy projects $5 bn North Carolina supplier spending, cuts rate‑hike request

Duke Energy disclosed that it spent nearly $1 billion with North Carolina‑based suppliers in 2025 and expects total spending to rise toward $5 billion over the next five years. The utility highlighted partnerships with local manufacturers such as GE Vernova, which provides transformers, and Siemens Energy, which supplies gas turbines, underscoring a strategy to keep supply‑chain dollars in‑state and bolster grid reliability, jobs and regional economies.

Separately, the company lowered its requested residential rate increase from 18% to 11.6% after a strong public backlash and opposition from North Carolina Attorney General Jeff Jackson and other stakeholders. Testimony before the North Carolina Utilities Commission focused on affordability, especially for low‑income customers, and the commission is expected to decide later this year whether to approve the revised request.