CLAIM #22033 · DUK (DUK) · 2024Q4 earnings call · Feb 13, 2025 · due Dec 31, 2029
“Turning to slide nine, beginning in 2027, we see an acceleration in volumes, with annual load growth increasing to 3% to 4% at the enterprise.”
Brian Savoy · CFO
How to check this claim
Look at: Enterprise-wide annual electricity load/sales growth rate, as reported by Duke Energy
It came true if: Annual load growth of 3% to 4% for years beginning 2027 (2027-2029)
Where: Company disclosures on load growth (10-K, investor presentations, or earnings call commentary)
In context
“ears will continue to drive results. In January, we implemented our new multi-year rate plan in Florida and entered year two of our multi-year rate plan in North Carolina. See benefits from the DEC South Carolina rate case and our recently approved Indiana rate case, as well as growth from grid riders in the Midwest and Florida. In addition to rate activity, our plan assumes normal weather and retail sales growth of 1.5% to 2% in 2025. Growth in our gas segment will be driven by the Piedmont, North Carolina rate case, and annual rate mechanisms in South Carolina and Tennessee, as well as customer additions and integrity management investments. Finally, we expect results of the other segment to be driven by higher interest expense and modest share dilution to fund our growing capital plan. Turning to slide nine, beginning in 2027, we see an acceleration in volumes, with annual load growth increasing to 3% to 4% at the enterprise. Our confidence in this forecast is underpinned by significant economic development projects coming online, particularly in the Carolinas, which we see growing at 4% to 5% over the same period. Our economic development pipeline reflects advanced manufacturing projects across multiple sectors, as well as data centers. As a reminder, we take a risk-adjusted approach as we evaluate which projects to include in our forecast. We incorporate just a portion of our total pipeline, focusing on those with letter agreements or in very late-stage development. We then utilize discrete project-level analysis to ensure confidence in when the projects will begin commercial operation and require energy supply. In the near term, we're planning for annual load growth between 1.5% to 2% at the enterprise. Our”
Verify independently
SEC filings for DUK ↗ · Claim quote is verbatim from the 2024Q4 earnings call.