Duke Energy Unveils $87 Billion Investment Plan

Duke Energy announced it will invest $87 billion over five years to expand infrastructure, primarily to meet rising electricity demand in Florida, and will fund this by selling part of its Florida business for $6 billion and its Tennessee gas business for $2.8 billion. The company also reported second-quarter profits above expectations, sending its shares to a record high and marking a five-day winning streak. These developments come as U.S. utilities increase investments in power lines and generation to keep pace with growing demand from AI data centers, transportation electrification, and population growth. The U.S. Energy Information Administration forecasts record power consumption in 2025 and 2026. Other energy sector stocks including Dominion Energy, Exelon, Eversource Energy, and FuelCell Energy also posted gains, though many remain below their 52-week highs. In Canada, Power Corp. of Canada hit a new 52-week high, while Algonquin Power & Utilities saw modest gains but underperformed the overall market.