Duke Energy reached a settlement on October 7, 2026 with Amazon, Google, Microsoft, and the U.S. Department of Defense to ensure that large electricity consumers, rather than households, bear the cost of AI-driven demand. The agreement requires new customers needing 50 MW or more to make nonrefundable upfront payments, pay monthly minimums set at 75% of projected demand, and face early termination fees ranging from $25 million to over $587 million. The deal applies to contracts signed after June 1, 2026 and still needs approval from the North Carolina Utilities Commission, expected by mid-November 2026. The goal is to shield North Carolina residents from subsidizing data center expansion on the state’s power grid.
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