Forecasts used by Duke Energy that predict steadily rising demand for electricity in the Carolinas ignore the company’s sales history in the past 15 years, which have been essentially flat, and should be challenged by state regulators, according to a new study by the Institute for Energy Economics and Financial Analysis (IEEFA).
The study, the second in a series examining shortcomings in Duke’s proposed integrated resource plans (IRPs) for Duke Energy Carolinas and Duke Energy Progress, finds that total retail power demand has remained relatively flat since 2005. Even so, Duke’s last three forecasts have predicted steady growth through 2035.
“Residential sales are not growing,” said Dennis Wamsted, an IEEFA analyst and author of the report. “Between 2010 and 2019, residential sales fell slightly. Despite this evidence, the two Duke units still expect increases in electricity demand.”