South Carolina Approves Duke Energy's Natural Gas Facility Construction
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 2 days ago
0mins
Should l Buy DUK?
Source: NASDAQ.COM
- Economic Impact: According to a survey by Ernst & Young, Duke Energy's new natural gas generation facility in Anderson County is expected to support over 2,200 jobs annually during the multi-year construction phase, including 746 construction jobs, significantly boosting the local economy.
- Annual Economic Contribution: Once operational, the facility is projected to generate an annual statewide economic impact of $84 million, supporting 125 jobs and $10 million in annual labor income, further enhancing regional economic vitality.
- Environmental Technology: The facility will feature advanced environmental control technologies designed to minimize emissions, using 90% less water compared to traditional wet cooling methods and eliminating the need for chemical water treatment, thereby enhancing environmental sustainability.
- Construction Timeline: Construction is scheduled to begin in the summer of 2027, with the facility expected to start serving customers by early 2031, marking a strategic expansion for Duke Energy in the natural gas generation sector.
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Analyst Views on DUK
Wall Street analysts forecast DUK stock price to rise
11 Analyst Rating
5 Buy
6 Hold
0 Sell
Moderate Buy
Current: 129.380
Low
115.00
Averages
132.09
High
146.00
Current: 129.380
Low
115.00
Averages
132.09
High
146.00
About DUK
Duke Energy Corporation is an energy holding company. The Company operates through two segments: Electric Utilities and Infrastructure (EU&I) and Gas Utilities and Infrastructure (GU&I). The EU&I segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio. EU&I provides retail electric service through the generation, transmission, distribution, and sale of electricity to customers within the Southeast and Midwest regions of the United States. The GU&I segment conducts natural gas operations primarily through the regulated public utilities of Piedmont, Duke Energy Ohio, and Duke Energy Kentucky. GU&I serves residential, commercial, industrial, and power generation natural gas customers, including customers served by municipalities who are wholesale customers. It also purchases a diverse portfolio of transportation and storage services from interstate pipelines.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Duke Energy's New Natural Gas Plant Approved in South Carolina
- Project Approval: The South Carolina Public Service Commission has approved Duke Energy's construction of a new natural gas plant in Anderson County, expected to create over 2,200 construction jobs annually and generate an annual economic impact of $84 million for the local economy.
- Construction Timeline: Construction is anticipated to begin in summer 2027, with the facility projected to be operational by early 2031, marking the first new generation facility in the state in a decade.
- Environmental Technology: The new plant will incorporate state-of-the-art environmental control technologies, projected to use 90% less water than traditional wet cooling methods and will not produce a vapor plume, significantly reducing its environmental footprint.
- Impact of Energy Security Act: This project is the first approved following the enactment of the Energy Security Act, reflecting state leaders' commitment to meeting the energy demands of a rapidly growing population and ensuring a stable and diverse energy supply for the future.
See More
South Carolina Approves Duke Energy's Natural Gas Facility Construction
- Economic Impact: According to a survey by Ernst & Young, Duke Energy's new natural gas generation facility in Anderson County is expected to support over 2,200 jobs annually during the multi-year construction phase, including 746 construction jobs, significantly boosting the local economy.
- Annual Economic Contribution: Once operational, the facility is projected to generate an annual statewide economic impact of $84 million, supporting 125 jobs and $10 million in annual labor income, further enhancing regional economic vitality.
- Environmental Technology: The facility will feature advanced environmental control technologies designed to minimize emissions, using 90% less water compared to traditional wet cooling methods and eliminating the need for chemical water treatment, thereby enhancing environmental sustainability.
- Construction Timeline: Construction is scheduled to begin in the summer of 2027, with the facility expected to start serving customers by early 2031, marking a strategic expansion for Duke Energy in the natural gas generation sector.
See More
Duke Energy Secures Approval for New Natural Gas Plant in South Carolina
- Project Approval: Duke Energy announced it has secured approval from the South Carolina Public Service Commission to build a new natural gas generation plant in Anderson County, addressing the state's rapidly growing energy demands and potentially increasing the company's market share in the region.
- Efficiency Design: The plant is set to be one of the most efficient natural gas facilities in Duke's system, incorporating state-of-the-art environmental control technologies that are expected to reduce water usage by 90%, significantly lowering environmental impact and enhancing the company's sustainability profile.
- Construction Timeline: Duke Energy plans to begin construction in summer 2027, with the plant expected to start serving customers in early 2031, a timeline that positions the company favorably in the future energy market.
- Technological Advantages: The new facility will not produce a vapor plume and is designed to have a longer lifespan than previous natural gas technologies, indicating the company's ongoing commitment to technological innovation and strengthening its competitive edge in the energy sector.
See More
South Carolina Approves Duke Energy Natural Gas Project
- Project Approval: The South Carolina Public Service Commission has approved Duke Energy's plan to construct a new natural gas generation facility in Anderson County, which will support the region's growing energy needs and significantly contribute to the community's economic success.
- Community Engagement: Duke Energy conducted a public hearing and two open house events during the approval process, inviting community members to participate, share project details, and provide feedback, demonstrating the company's commitment to public input.
- Energy Security Act: In 2025, South Carolina enacted the Energy Security Act to provide a comprehensive framework for energy policy, ensuring that the state can meet the diverse energy needs of its growing population and businesses.
- Company Scale: Duke Energy serves 2.9 million customers across a 24,000-square-mile area in North and South Carolina, with a total energy capacity of 20,800 megawatts, highlighting its significant role in the energy transition.
See More
DUKE ENERGY CORP - CONSTRUCTION SET TO START IN SUMMER 2027, FACILITY EXPECTED TO SERVE CUSTOMERS BY EARLY 2031
- Construction Timeline: Duke Energy Corp plans to begin construction of a new facility in the summer of 2027.
- Service Goals: The facility is expected to start serving customers by early 2031.
See More
Duke Energy Florida Reduces Electric Bills for Customers
- Bill Reduction: As of February, Duke Energy Florida has removed storm cost recovery charges, resulting in a reduction of approximately $44 in residential bills for every 1,000 kWh, significantly easing the financial burden on customers and enhancing satisfaction.
- Customer Support Programs: In 2025, Duke Energy Florida delivered nearly $30.5 million in support to approximately 31,000 customers facing payment challenges, demonstrating the company's commitment to customer care and responsibility.
- Partnership Initiatives: Duke Energy collaborates with various community partners and assistance programs, leveraging resources like the Share The Light Fund and Low Income Home Energy Assistance Program (LIHEAP) to ensure eligible customers receive necessary financial support, thereby enhancing the company's social responsibility.
- Energy Transition Strategy: Duke Energy is executing an ambitious energy transition, investing in grid upgrades and cleaner generation, which ensures customer reliability and value, further solidifying its leadership position in the energy market.
See More
Duke Energy's New Natural Gas Plant Approved in South Carolina
- Project Approval: The South Carolina Public Service Commission has approved Duke Energy's construction of a new natural gas plant in Anderson County, expected to create over 2,200 construction jobs annually and generate an annual economic impact of $84 million for the local economy.
- Construction Timeline: Construction is anticipated to begin in summer 2027, with the facility projected to be operational by early 2031, marking the first new generation facility in the state in a decade.
- Environmental Technology: The new plant will incorporate state-of-the-art environmental control technologies, projected to use 90% less water than traditional wet cooling methods and will not produce a vapor plume, significantly reducing its environmental footprint.
- Impact of Energy Security Act: This project is the first approved following the enactment of the Energy Security Act, reflecting state leaders' commitment to meeting the energy demands of a rapidly growing population and ensuring a stable and diverse energy supply for the future.
See More
South Carolina Approves Duke Energy's Natural Gas Facility Construction
- Economic Impact: According to a survey by Ernst & Young, Duke Energy's new natural gas generation facility in Anderson County is expected to support over 2,200 jobs annually during the multi-year construction phase, including 746 construction jobs, significantly boosting the local economy.
- Annual Economic Contribution: Once operational, the facility is projected to generate an annual statewide economic impact of $84 million, supporting 125 jobs and $10 million in annual labor income, further enhancing regional economic vitality.
- Environmental Technology: The facility will feature advanced environmental control technologies designed to minimize emissions, using 90% less water compared to traditional wet cooling methods and eliminating the need for chemical water treatment, thereby enhancing environmental sustainability.
- Construction Timeline: Construction is scheduled to begin in the summer of 2027, with the facility expected to start serving customers by early 2031, marking a strategic expansion for Duke Energy in the natural gas generation sector.
See More
Duke Energy Secures Approval for New Natural Gas Plant in South Carolina
- Project Approval: Duke Energy announced it has secured approval from the South Carolina Public Service Commission to build a new natural gas generation plant in Anderson County, addressing the state's rapidly growing energy demands and potentially increasing the company's market share in the region.
- Efficiency Design: The plant is set to be one of the most efficient natural gas facilities in Duke's system, incorporating state-of-the-art environmental control technologies that are expected to reduce water usage by 90%, significantly lowering environmental impact and enhancing the company's sustainability profile.
- Construction Timeline: Duke Energy plans to begin construction in summer 2027, with the plant expected to start serving customers in early 2031, a timeline that positions the company favorably in the future energy market.
- Technological Advantages: The new facility will not produce a vapor plume and is designed to have a longer lifespan than previous natural gas technologies, indicating the company's ongoing commitment to technological innovation and strengthening its competitive edge in the energy sector.
See More
South Carolina Approves Duke Energy Natural Gas Project
- Project Approval: The South Carolina Public Service Commission has approved Duke Energy's plan to construct a new natural gas generation facility in Anderson County, which will support the region's growing energy needs and significantly contribute to the community's economic success.
- Community Engagement: Duke Energy conducted a public hearing and two open house events during the approval process, inviting community members to participate, share project details, and provide feedback, demonstrating the company's commitment to public input.
- Energy Security Act: In 2025, South Carolina enacted the Energy Security Act to provide a comprehensive framework for energy policy, ensuring that the state can meet the diverse energy needs of its growing population and businesses.
- Company Scale: Duke Energy serves 2.9 million customers across a 24,000-square-mile area in North and South Carolina, with a total energy capacity of 20,800 megawatts, highlighting its significant role in the energy transition.
See More
DUKE ENERGY CORP - CONSTRUCTION SET TO START IN SUMMER 2027, FACILITY EXPECTED TO SERVE CUSTOMERS BY EARLY 2031
- Construction Timeline: Duke Energy Corp plans to begin construction of a new facility in the summer of 2027.
- Service Goals: The facility is expected to start serving customers by early 2031.
See More
Duke Energy Florida Reduces Electric Bills for Customers
- Bill Reduction: As of February, Duke Energy Florida has removed storm cost recovery charges, resulting in a reduction of approximately $44 in residential bills for every 1,000 kWh, significantly easing the financial burden on customers and enhancing satisfaction.
- Customer Support Programs: In 2025, Duke Energy Florida delivered nearly $30.5 million in support to approximately 31,000 customers facing payment challenges, demonstrating the company's commitment to customer care and responsibility.
- Partnership Initiatives: Duke Energy collaborates with various community partners and assistance programs, leveraging resources like the Share The Light Fund and Low Income Home Energy Assistance Program (LIHEAP) to ensure eligible customers receive necessary financial support, thereby enhancing the company's social responsibility.
- Energy Transition Strategy: Duke Energy is executing an ambitious energy transition, investing in grid upgrades and cleaner generation, which ensures customer reliability and value, further solidifying its leadership position in the energy market.
See More
