Preheat your oven to 375°F. Pour the melted butter into a 9x13 baking dish, coating the bottom evenly. Mix the 1 cup granulated sugar, 1/2 cup brown sugar, cinnamon, nutmeg, and lemon juice together in a bowl. Toss your sliced peaches with this mixture until they're completely coated. This is where the flavor magic happens.
Spread the peach mixture across the buttered dish, distributing the juices evenly. Top with orange slices and sprinkle the orange zest over everything. The citrus cuts through the sweetness and adds this unexpected brightness. Don't skip this step—trust me on it.
In another bowl, whisk together 2 cups flour, 2 tsp baking powder, and 1/2 tsp salt. Make sure there are no lumps in the baking powder or you'll get weird pockets. This takes about 30 seconds and makes a huge difference in texture.
Combine 1 cup milk and 1 egg in a measuring cup, then whisk them together. Slowly pour this into the flour mixture, stirring gently until you get a thick, pancake-batter consistency. Don't overmix—lumpy is actually what you want here for a rustic topping.
Pour this batter evenly over the peaches (yes, it'll seem like it won't cover everything—it will). The batter spreads and rises as it bakes. Now pour 1 cup sparkling water slowly over the top without stirring. I know it looks weird, but this creates that signature bubbly texture underneath the crust.
Drizzle 2 tbsp honey across the top of the batter in a thin stream. This adds extra caramelization and prevents the topping from drying out. Place the baking dish in your preheated oven and bake for 40-45 minutes until the top is golden brown and bubbly around the edges.
Remove from the oven and let it cool for about 10 minutes before serving. The peach cobbler recipe needs this resting time so the filling sets slightly and becomes easier to scoop. After 10 minutes, you can serve warm with your favorite topping. The cobbler'll still be steaming hot inside, which is exactly how it should be.