Duke Energy on Thursday raised its five-year capital expenditure plan to $83 billion, a 13.7% jump, as the utility looks to boost its grid to profit from an oncoming demand from data centers and increased electrification.

The amount of contracted capacity at Dominion from data center operators climbed 88% in the second half of 2024.

AI and data centers are reshaping the energy landscape and market participants are scrambling to meet skyrocketing power demands.

U.S. electric utilities are adding tens of billions of dollars to spending plans to build new power supplies and bolster the grid as data centers for artificial intelligence and cloud computing drive up energy demand.

Hoosiers might already be seeing the effects of AI data centers populating Indiana with increased electricity bills. According to Citizens Action Coalition program director Ben Inskeep, new AI data centers are bringing utility companies like Duke Energy to pass subsidization costs onto consumers.

Duke Energy said it offers several ways to try to help with high costs. The youngest Trump doesn’t spend much time on campus, deepening the mystery surrounding who he really is as many prominent figures rave about different aspects of his personality A shark bit the hands off a woman along the shore of a Caribbean beach while she was trying to take a picture with it.

Duke Energy is expanding programs to help customers struggling with high energy bills. This comes just weeks after Duke says it hit a new record for electricity use. ‘Kind of monopolizing’: Duke Energy faces pushback over higher electricity bills The biggest expansions are for programs that help customers reduce their energy usage by replacing old,