72 slides from Duke Energy Corporation (holding Company)'s technical presentation, May 14, 2026
Slide 1: 2026 Carolinas Resource Plan Meeting 2
2026 Carolinas Resource Plan Meeting 2 May 14, 2026 2026 Carolinas Resource Plan | 1
Slide 2: Meeting recording notice
Please note, this meeting is being recorded. Presentations will be posted on the IRP website and discussion portions will be temporarily stored for internal purposes only to ensure accuracy of meeting notes. 2026 Carolinas Resource Plan | 2
Slide 3: Safety: Storm Preparedness
Safety Storm Preparedness Make a Plan ▪ Have a plan to move yourself and your family - especially those with special needs. ▪ Have a portable radio, TV or NOAA Weather Radio on hand to monitor important information. ▪ Homeowners who depend on well water should draw an emergency supply. ▪ Get cash or
Slide 4: Facilitator of 2026 Engagement: Great Plains Institute (GPI)
Facilitator of 2026 Engagement: Great Plains Institute (GPI) Benjamin Stafford Alissa Bemis Trevor Drake Senior Policy Meeting & Vice President, Manager Administrative Manager Energy Systems Aileen Cole Audrey Negro Hallie Turner Senior Policy Meeting & Policy Associate Research Specialist Administr
Slide 5: Agenda
Agenda 9:00 – 9:10 a.m. Open, Safety, Agenda, Meeting Structure Benjamin Stafford, GPI 9:10 – 9:15 a.m. Feedback from Engagement Meeting 1 Benjamin Stafford, GPI Brian Lusher, Peter Schaffer, 9:15 – 10:15 a.m. Grid Edge & Customer Programs Chelsea Gorman 10:15 – 10:25 a.m. Selectable Supply-Side Res
Slide 6: Meeting Structure
Meeting Structure 2026 Carolinas Resource Plan | 6
Slide 7: Meeting Ground Rules
Meeting Ground Rules Respect each other: Focus on today’s topics: Help us to collectively uphold respect for each Please respect the scope of today’s meeting to make the other's experiences and opinions, even in most of our time. Pending legal issues are outside the difficult conversations. We need
Slide 8: Attendee Roles: Observers
Attendee Roles: Observers ▪ Please use the "Q&A" feature on the menu at the bottom of your screen to submit questions to presenters and technical representatives. ▪ We will address questions as time permits. ▪ Questions submitted through the Q&A feature will be displayed as they are answered. This a
Slide 9: Attendee Roles: Technical Representative
Attendee Roles: Technical Representative ▪ Technical representatives ▪ To manage participation, please use the “Raise hand” feature have registered in to indicate you would like to join the conversations (observers advance. do not use the “Raise hand" feature). ▪ Technical representatives Click on “
Slide 10: Additional Participation
Additional Participation Meeting materials and presentation recordings* will be uploaded to the website: duke-energy.com/CarolinasResourcePlan_2026 Questions/comments can be submitted through the "Contact Us" form on the website or send an email to DukeCarolinas@gpisd.net ▪ *Q&A portions of meetings
Slide 11: Duke Energy IRP Teammates and Today's Presenters
Duke Energy IRP Teammates and Today’s Presenters Matt Kalemba Glen Snider BJ Byers Karen Hall Emma Goodnow VP Integrated Managing Director Manager Director IRP Regulatory & Director Resource Planning IRP & Analytics IRP Modeling & Analytics Policy Strategy IRP Strategic Integration Peter Schaffer Ch
Slide 12: Meeting 2 Technical Representatives
Meeting 2 Technical Representatives Technical Representatives: ▪ Jake Duncan – Vote Solar ▪ Colin Fitzhenry – Carolinas Industrial Group for Fair Utility Rates (CIGFUR) ▪ Rourke Pattullo – Base Power ▪ James McLawhorn – Carolina Utility Customer Association (CUCA) ▪ LaMeshia Whittington – Democracy
Slide 13: Meeting 1 Stakeholder Feedback
Meeting 1 Stakeholder Feedback 2026 Carolinas Resource Plan | 13
Slide 14: Stakeholder Meeting 1 Feedback Themes
Stakeholder Meeting 1 | Feedback Themes Load forecasting Solar and storage Energy and policy Participants asked questions Participants had several landscape: regarding the methodology for resource-specific questions, Participants sought to forecasting economic many of which focused on understand ong
Slide 15: Role of Grid Edge and Customer Programs in Resource Planning
Role of Grid Edge and Customer Programs in Resource Planning 2026 Carolinas Resource Plan | 15
Slide 16: Integrated System Planning and Operations
Integrated System Planning and Operations Generation: bulk Transmission: bulk Distribution: lines Customer: DERs such as energy production power transmission, that bring power to customer sited solar and facilities typically at or above customers, typically 12 demand response 100 kV to 34 kV Why int
Slide 17: What Is the Grid Edge?
What Is the Grid Edge? Bulk Electric System Distribution Grid Customer Grid Edge ? What is the value to our customers? Engaging with our customers to reduce and Reliable Affordable Clean manage load at the Grid Edge can be cost-effective 2026 Carolinas Resource Plan | 17
Slide 18: Grid Edge Programs
Grid Edge Programs Technology Energy Examples of Resources and Emerging Opportunities Voltage Optimization Baseload: Eliminates energy Integrated volt var control and capacity needs on the system Demand Response / Distributed Capacity Peaker Plant / Reserves: Residential programs Managed charging RE
Slide 19: Grid Edge Programs Actively Leverage Stakeholder Input
Grid Edge Programs Actively Leverage Stakeholder Input Beyond IRP stakeholder meetings, Grid Edge conducts regular stakeholder meetings Companies have operated the Carolinas EE/DSM Collaborative for over 15 years ▪ Review program operations and performance ▪ Discuss potential program modifications a
Slide 20: Demand Response
Demand Response 2026 Carolinas Resource Plan | 20
Slide 21: Demand Response Strategic Value
Demand Response Strategic Value Customer-Powered Plant Illustrative Year of Megawatt Load by Hour ▪ Peak load reduction capability is included in IRP planning ▪ Additional use cases include load flexibility outside of peak, including lower purchased power and 25,000 operational expenses, and integra
Slide 22: Residential and Small Business Load Control Tools
Residential and Small Business Load Control Tools 2026 Carolinas Resource Plan | 22
Slide 23: Demand Response Winter Capability Growth
Demand Response Winter Capability Growth Capability Growth ▪ Modeling only includes approved programs, but Demand Response team targets are not capped. ▪ Currently modeling approximately 1,100 MW of winter capability in 2030. ▪ Forecast includes enhancements launched in early 2026. Initiatives ▪ Bui
Slide 24: DR Initiatives for IRP Projections
DR Initiatives for IRP Projections Continued Growth in Customer Adoption of External Partnerships Distributed Energy Resources ▪ Leverage relationships with HVAC, plumbers, ▪ Examples include smart home device adoption, especially electricians, solar installers, new home builders, thermostats, water
Slide 25: Energy Efficiency
Energy Efficiency 2026 Carolinas Resource Plan | 25
Slide 26: Utility Energy Efficiency Forecast Update
Utility Energy Efficiency Forecast Update The Companies continue to forecast aggressive but achievable implementation of utility energy efficiency programs over the planning horizon. Updates since last filing: ▪ Using the fall 2025 ▪ Incorporated updates to ▪ All three EE cases (low, ▪ Low Case – co
Slide 27: Carolinas Utility Energy Efficiency Forecast
Carolinas Utility Energy Efficiency Forecast Eligible Retail Sales = Retail Sales excluding sales to nonresidential opt-out customers 2026 Carolinas Resource Plan | 27
Slide 28: Potential Enablers for Long-Term EE/DSM Forecast - Updates
Potential Enablers for Long-Term EE/DSM Forecast - Updates Structural modifications and mechanisms that remove market barriers to program participation In SC, DEP’s application to establish a Tariff On Bill Repayment Pilot was denied in 2024. With the passage of Act 41 and its On-Tariff Financing au
Slide 29: Potential Enablers for Long-Term EE/DSM Forecast - Updates
Potential Enablers for Long-Term EE/DSM Forecast - Updates Modifications expanding measures and offers reducing consumption from the grid Development of energy Continue exploring opportunities for energy efficiency and demand-side management for emerging loads (e.g., EVs, end-use efficiency program
Slide 30: Questions
Questions 2026 Carolinas Resource Plan | 30
Slide 31: Supply-Side Resources in 2026 Evaluation
Supply-Side Resources in 2026 Evaluation 2026 Carolinas Resource Plan | 31
Slide 32: Generic Supply-Side Resources Available for Selection in Modeling
Generic Supply-Side Resources Available for Selection in Modeling 2026 Carolinas Resource Plan | 32
Slide 33: Questions
Questions 2026 Carolinas Resource Plan | 33
Slide 34: Renewables & Storage
Renewables & Storage 2026 Carolinas Resource Plan | 34
Slide 35: Solar and Wind Configurations
Solar and Wind Configurations Specifications Operational Considerations Other Considerations ▪ DC/AC Ratio at 1.3 75 MW (Bifacial Single-Axis Solar Tracking (SAT) ▪ 0.5% Annual degradation ▪ Capacity factor: 24% ▪ Land and permitting ▪ Tariff uncertainty ▪ Availability of federal energy tax ▪ 113m H
Slide 36: Storage Configurations
Storage Configurations Specifications Operational Considerations Other Considerations ▪ Augmentation strategy ▪ Generator Replacement Request ▪ 30-year life with assumed midlife (GRR) opportunities to reduce cost 4-hour lithium ion & replacement/rebuild through avoiding upgrades and Battery 8-hour l
Slide 37: Questions
Questions 2026 Carolinas Resource Plan | 37
Slide 38: BREAK
BREAK 2026 Carolinas Resource Plan | 38
Slide 39: New Nuclear Development
New Nuclear Development 2026 Carolinas Resource Plan | 39
Slide 40: Reactors at Six Sites in the Carolinas
11 Reactors at Six Sites in the Carolinas ▪ 10,819 MW ▪ 8 million homes ▪ Safe, reliable, always-on ▪ 50+ years of operation ▪ A record 97% capacity factor in 2025; 27th consecutive year greater than 90% ▪ About 56% of the total energy generated for customers in the Carolinas, including 98% of the r
Slide 41: Subsequent License Renewal and Power Uprates
Subsequent License Renewal and Power Uprates Subsequent License Renewals ▪ Extending the operational license of all 11 units from 60 up to 80 years ▪ March 2025: Received renewed licenses for all three units at Oconee Nuclear Station ▪ April 2026: Received a renewed license for Robinson Nuclear Plan
Slide 42: Nuclear Technologies
Nuclear Technologies Technologies Overview Leading U.S. Reactor Designs ▪ Generation III+ reactors Large Light-Water ▪ Most proven technology, several in operation Reactors ▪ Enhanced safety systems, simpler designs and modular construction Westinghouse AP1000 W.S. Lee Site with AP1000 Renderings ▪
Slide 43: Existing Fleet + New Nuclear Generation Options
Existing Fleet + New Nuclear Generation Options 2026 Carolinas Resource Plan | 43
Slide 44: Second-Mover Strategy
Second-Mover Strategy U.S. Department of Energy Generation TerraPower Natrium Project III + SMR Technology Grant ▪ Kemmerer, Wyo. ▪ Awarded $400 million grant ▪ Embedded three-person operations and maintenance team as part of U.S. ▪ Accelerate development, reduce risks and Department of Energy’s Adv
Slide 45: 2025 South Carolina IRP Update
2025 South Carolina IRP Update Continue Nuclear Optionality Near-Term Actions ▪ Second-mover strategy ▪ Belews Creek site: Submitted early site permit application to U.S. Nuclear Regulatory Commission on Dec. 30, 2025 ▪ Licensing activities www.nrc.gov/reactors/new-reactors/advanced/who-were-workin
Slide 46: Questions
Questions 2026 Carolinas Resource Plan | 46
Slide 47: Annual Resource Availability
Annual Resource Availability 2026 Carolinas Resource Plan | 47
Slide 48: Supply-Side Resources | Annual Availability through 2041 (MW)
Supply-Side Resources | Annual Availability through 2041 (MW) Annual availability reflects maximum selection of a resource in a given year; May be subject to cumulative limits or other execution considerations RESOURCE 2030 2031 2032 2033 2034 2035 2036 2037 2038 2039 2040 2041 Cumulative Limit • No
Slide 49: Questions
Questions 2026 Carolinas Resource Plan | 49
Slide 50: BREAK
BREAK 2026 Carolinas Resource Plan | 50
Slide 51: Fuel Price Forecasting Methodology
Fuel Price Forecasting Methodology 2026 Carolinas Resource Plan | 51
Slide 52: Fuel Price Forecast Methodology – Overview
Fuel Price Forecast Methodology – Overview The fuel price curves are constructed from three components: Years 1-5 Years 6-8 Years 9 and beyond (2027-2031) (2032-2034) (2035 and beyond) Forward Long-term Transition Market Fundamentals Gas – Interpolate between Composite of outlook NYMEX Henry Hub for
Slide 53: Fuel Prices – Natural Gas
Fuel Prices – Natural GasFuel Prices – Natural Gas Gas Price Trends ▪ Robust production combined with strong domestic and export demand expected to maintain market equilibrium over the near term. ▪ After the market curve period, price escalates to the long- term fundamental trend. 2026 Carolinas Res
Slide 54: Questions
Questions 2026 Carolinas Resource Plan | 54
Slide 55: CC 4+ Fuel Security Modeling Assumptions
CC 4+ Fuel Security Modeling Assumptions (Interstate EFT & ELNG) 2026 Carolinas Resource Plan | 55
Slide 56: Fuel Security Modeling Approach
Fuel Security Modeling Approach For the 2026 IRP, there will be Interstate Pipeline EFT: Any As with prior IRPs, due to two incremental fuel security selectable CC would be burdened with limitations in the Transco Zone 5, any new CC resource options evaluated: Enhanced the generic costs of EFT servi
Slide 57: Enhanced Liquefied Natural Gas (ELNG) Storage
Enhanced Liquefied Natural Gas (ELNG) Storage While ELNG was not in the ELNG will be modeled in If ELNG is preferred in 2023 IRP, the DEC/DEP EnCompass modeling, DEC/DEP stated they may move could move forward ▪ The fuel security costs of forward in validating LNG ELNG will be compared to with ELNG
Slide 58: ELNG Strategy
ELNG Strategy ELNG storage could meet future fuel security needs for new gas generation in place of incremental Interstate EFT Hourly Management (0-20%) Liquify when excess of daily gas ELNG would be dual-purpose, but IRP modeling would focus on the Fuel Security portion Seasonal Fuel Security (80%)
Slide 59: ELNG Modeling
ELNG Modeling The 2026 IRP is planning to model ELNG in Encompass as fuel security1 ▪ The costs of ELNG will be compared to EFT ▪ Generic cost assumptions for EFT and ELNG will be based on estimates from third parties Generic ELNG assumptions per new CC provide fuel security while not needing inters
Slide 60: Hydrogen
Hydrogen 2026 Carolinas Resource Plan | 60
Slide 61: Hydrogen Industry Update
Hydrogen Industry Update Evolving Landscape ▪ Continue to evaluation hydrogen-capable natural gas resources ▪ Advanced Class CT manufacturers continue journey from current 30%-50% hydrogen capability to 100% ▪ Pilot projects are demonstrating production, storage, and utilization of clean hydrogen ▪
Slide 62: Hydrogen Modeling Assumptions
Hydrogen Modeling Assumptions Modeling Assumptions ▪ Timing – 2040+ Assumption 2026 IRP (Same as 2025) ▪ Blending and Volumes – proxy for fleet H2 Blending with NG 1% at 2040 utilization and growing into greater (H2 commodity volume 2% at 2041 availability tracks with expansion based by % of total)
Slide 63: Questions
Questions 2026 Carolinas Resource Plan | 63
Slide 64: Coal Retirement Modeling Methodology
Coal Retirement Modeling Methodology 2026 Carolinas Resource Plan | 64
Slide 65: Prudently Planning for Coal-Fired Generation Plant Retirement
Prudently Planning for Coal-Fired Generation Plant Retirement Illustrative 2026 Carolinas Resource Plan | 65
Slide 66: Coal Retirement Analysis Methodology
Coal Retirement Analysis Methodology Initial Coal Unit Development of Coal Unit Determination of Optimal Operations Run Coal Unit Cost Retirement Runs Coal Retirement Dates ▪ Initial system simulation to ▪ Based on anticipated ▪ Costs input into capacity ▪ Capacity expansion models determine coal un
Slide 67: Coal Unit Details
Coal Unit Details Fuel Maximum NG Capacity In-Service Unit Utility Capabilities Co-firing Capability (Winter MW) Date Belews Creek 1 Coal/Gas DEC 50% 1,110 1975 Belews Creek 2 Coal/Gas DEC 50% 1,110 1975 Cliffside 5 Coal/Gas DEC 40% 546 1972 Cliffside 6 Coal/Gas DEC 100% 849 2012 Marshall 1 Coal/Gas
Slide 68: Questions
Questions 2026 Carolinas Resource Plan | 68
Slide 69: Additional Participation
Additional Participation Meeting materials and presentation recordings* will be uploaded to the website: duke-energy.com/CarolinasResourcePlan_2026 Questions/comments can be submitted through the "Contact Us" form on the website or send an email to DukeCarolinas@gpisd.net ▪ *Q&A portions of meetings
Slide 70: Upcoming 2026 Engagement
Upcoming 2026 Engagement April May June MEETING 1 MEETING 2 MEETING 3 April 29 May 14 June 5 Advancing Duke Demand- and Analytical Energy’s Resource Supply-Side Framework & Plan for the Modeling Follow-up Items Carolinas Assumptions Briefings with technical representatives to be held in advance of e
Slide 71: Next Engagement Meeting
Next Engagement Meeting Engagement Meeting #3 will take place on June 5, 2026 Invitations to register for Meeting 3 have been sent to all stakeholders. Registration is also available on the website: duke-energy.com/CarolinasResourcePlan_2026 2026 Carolinas Resource Plan | 71
Slide 72: 2026 Carolinas Resource Plan | 72
2026 Carolinas Resource Plan | 72