Duke Energy is one of the largest energy companies in the U.S to hit a major milestone last month. The U.S. Nuclear Regulatory Commission approved a 20-year license renewal for its Oconee Nuclear Station.
This means the plant’s three reactors can keep running safely and supplying clean, reliable electricity through the 2050s. Most significantly, it supports the company’s goals to meet the growing energy demand with low-carbon power.
The EIA expects power demand to grow to 4,179 billion kilowatt-hours (kWh) in 2025 and reach 4,239 billion kWh in 2026. This would surpass the previous record of 4,082 billion kWh set in 2024.
Oconee First to Hit 80-Year Milestone in Duke’s Nuclear Push
The U.S. Nuclear Regulatory Commission (NRC) oversees the license renewal process. It includes two key steps — one for safety and another for environmental impact. Notably, with both approvals in place, Oconee becomes the first Duke Energy plant to reach this second round of license extensions.
It’s a big part of the company’s plan to provide cleaner energy while keeping costs low and power reliable.
When nuclear plants were first approved, they were licensed to run for 40 years. That wasn’t because of technical limits but because of cost. The NRC later created a process for 20-year license renewals.
Moving on, all of Duke’s plants have already secured their first extensions. Now, with the second round of approvals, plants like Oconee can safely run for up to 80 years.
Why Nuclear Still Matters
Nuclear energy is a huge part of Duke’s electricity generation, especially in the Carolinas. It’s the only clean power source that runs non-stop, 24/7.
- Duke’s nuclear fleet supplies 58% of the electricity used by customers in the Carolinas and over 96% of the company’s total clean energy.
- It serves 8.4 million electric customers in six states: North Carolina, South Carolina, Florida, Indiana, Ohio, and Kentucky.
Additionally, its natural gas services reach 1.7 million customers across five states. Overall, the company owns 54,800 megawatts of energy capacity.
Oconee is Duke’s largest nuclear station. It’s located in Lake Keowee, Seneca, South Carolina and has three reactors that generate more than 2,500 megawatts. This capacity is enough to power nearly 2 million homes. The plant has a strong performance record, running at over 90% capacity for 17 straight years.
The Oconee Nuclear Plant
Over the years, the company has made big investments to keep Oconee running safely and efficiently. It replaced major equipment like steam generators, turbines, pumps, and valves. In 2024, Oconee got a boost of 45 more megawatts of power because of all the smart upgrades on all three units.
Bringing Affordable and Clean Energy to People
Duke has relied on nuclear energy for over 50 years and plans to expand in the future. Next up is the Robinson Nuclear Plant in Hartsville, South Carolina. The company plans to apply for its license renewal this April to keep every existing nuclear plant running safely well into the future.
Nuclear plants like Oconee don’t just power homes. They create thousands of good jobs and bring in money that supports local communities. Federal tax credits also help reduce the cost of nuclear power for customers, making it even more affordable.
Duke Energy’s Net-Zero Future
Duke aims to cut about 70% of its direct carbon emissions by the 2030s and reach net zero by 2050, using 2005 as the baseline.
- In 2023, it emitted 72 million metric tons of CO₂ from its power plants which is 48% drop from 2005 levels. However, it reported an increase of 107,000 metric tons of methane emissions in 2022.
The company is proposing over $90 billion in new infrastructure to meet the rising energy needs. In the near term, this includes major investments in solar, battery storage, wind power, and hydrogen-capable natural gas.
Key Strategies For a Carbon Neutral Future
Apart from its long-term net-zero goals, the company has innovative and smart short-term plans to lower its emissions. They are:
- Retire all remaining coal plants by 2035 that are pending regulatory approval. It aims to more than triple its renewable energy capacity and add about 20 gigawatts of natural gas generation.
- Additionally, battery storage will play a key role, growing from just under 100 megawatts at present to 10,000 megawatts by 2035.
- Install pumped-storage hydro and advanced nuclear power and deploy small modular reactors by 2035.
However, natural gas will continue to support the grid robustly through 2050. For the North Carolina coast, Duke Energy wants to include SMRs, hydrogen-powered generation, and long-duration energy storage.
The above strategies aim not only to cut emissions but also to maintain grid reliability and keep costs affordable for customers.
South Carolina Gov. Henry McMaster noted,
“Affordable and reliable energy is the key to South Carolina’s continued economic prosperity, and nuclear power must play a key role as we work to shape our energy future. The approval to extend Oconee Nuclear Station’s operations for another 20 years is a critical step in ensuring South Carolina’s energy generation keeps pace with our rapid development.”
All in all, nuclear energy will play a significant role in Duke’s net-zero plans. The company continues to invest in its current nuclear fleet and in advanced reactors to provide safe, steady, and carbon-free power.
