DUKE ENERGY CORP, 10-K filed on 2/27/2025
Annual Report
v3.25.0.1
Cover Page - USD ($)
 12 Months Ended
Dec. 31, 2024
Jan. 31, 2025
Jun. 30, 2024
Document Information [Line Items]      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2024    
Current Fiscal Year End Date --12-31    
Document Transition Report false    
Entity File Number 1-32853    
Entity Registrant Name DUKE ENERGY CORPORATION    
Entity Tax Identification Number 20-2777218    
Entity Incorporation, State or Country Code DE    
Entity Address, Address Line One 525 South Tryon Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Large Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Public Float     $ 77,292,284,116
Entity Common Stock, Shares Outstanding   776,461,008  
Documents Incorporated by Reference
Portions of the Duke Energy definitive proxy statement for the 2025 Annual Meeting of the Shareholders or an amendment to this Annual Report are incorporated by reference into PART III, Items 10, 11 and 13 hereof.
This combined Form 10-K is filed separately by eight registrants: Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont (collectively the Duke Energy Registrants). Information contained herein relating to any individual registrant is filed by such registrant solely on its own behalf. Each registrant makes no representation as to information relating exclusively to the other registrants.
Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont meet the conditions set forth in General Instructions I(1)(a) and (b) of Form 10-K and are, therefore, filing this Form 10-K with the reduced disclosure format specified in General Instructions I(2) of Form 10-K. 		   
Entity Central Index Key 0001326160    
Document Fiscal Year Focus 2024    
Document Fiscal Period Focus FY    
Amendment Flag false    
Common Stock      
Document Information [Line Items]      
Title of 12(b) Security Common Stock, $0.001 par value    
Trading Symbol DUK    
Security Exchange Name NYSE    
Junior Subordinated Debentures 5.625% Coupon Due September 2078      
Document Information [Line Items]      
Title of 12(b) Security 5.625% Junior Subordinated Debentures    
Trading Symbol DUKB    
Security Exchange Name NYSE    
Depositary Share      
Document Information [Line Items]      
Title of 12(b) Security Depositary Shares    
Trading Symbol DUK PR A    
Security Exchange Name NYSE    
3.10% Senior Notes due 2028      
Document Information [Line Items]      
Title of 12(b) Security 3.10% Senior Notes due 2028    
Trading Symbol DUK 28A    
Security Exchange Name NYSE    
3.85% Senior Notes due 2034      
Document Information [Line Items]      
Title of 12(b) Security 3.85% Senior Notes due 2034    
Trading Symbol DUK 34    
Security Exchange Name NYSE    
Duke Energy Carolinas      
Document Information [Line Items]      
Entity File Number 1-4928    
Entity Registrant Name DUKE ENERGY CAROLINAS, LLC    
Entity Tax Identification Number 56-0205520    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 525 South Tryon Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Central Index Key 0000030371    
Progress Energy      
Document Information [Line Items]      
Entity File Number 1-15929    
Entity Registrant Name PROGRESS ENERGY, INC.    
Entity Tax Identification Number 56-2155481    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 411 Fayetteville Street    
Entity Address, City or Town Raleigh    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 27601    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer No    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   100  
Entity Central Index Key 0001094093    
Duke Energy Progress      
Document Information [Line Items]      
Entity File Number 1-3382    
Entity Registrant Name DUKE ENERGY PROGRESS, LLC    
Entity Tax Identification Number 56-0165465    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 411 Fayetteville Street    
Entity Address, City or Town Raleigh    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 27601    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Central Index Key 0000017797    
Duke Energy Florida      
Document Information [Line Items]      
Entity File Number 1-3274    
Entity Registrant Name DUKE ENERGY FLORIDA, LLC    
Entity Tax Identification Number 59-0247770    
Entity Incorporation, State or Country Code FL    
Entity Address, Address Line One 299 First Avenue North    
Entity Address, City or Town St. Petersburg    
Entity Address, State or Province FL    
Entity Address, Postal Zip Code 33701    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Central Index Key 0000037637    
Duke Energy Ohio      
Document Information [Line Items]      
Entity File Number 1-1232    
Entity Registrant Name DUKE ENERGY OHIO, INC.    
Entity Tax Identification Number 31-0240030    
Entity Incorporation, State or Country Code OH    
Entity Address, Address Line One 139 East Fourth Street    
Entity Address, City or Town Cincinnati    
Entity Address, State or Province OH    
Entity Address, Postal Zip Code 45202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   89,663,086  
Entity Central Index Key 0000020290    
Duke Energy Indiana      
Document Information [Line Items]      
Entity File Number 1-3543    
Entity Registrant Name DUKE ENERGY INDIANA, LLC    
Entity Tax Identification Number 35-0594457    
Entity Incorporation, State or Country Code IN    
Entity Address, Address Line One 1000 East Main Street    
Entity Address, City or Town Plainfield    
Entity Address, State or Province IN    
Entity Address, Postal Zip Code 46168    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Central Index Key 0000081020    
Piedmont      
Document Information [Line Items]      
Entity File Number 1-6196    
Entity Registrant Name PIEDMONT NATURAL GAS COMPANY, INC.    
Entity Tax Identification Number 56-0556998    
Entity Incorporation, State or Country Code NC    
Entity Address, Address Line One 525 South Tryon Street    
Entity Address, City or Town Charlotte    
Entity Address, State or Province NC    
Entity Address, Postal Zip Code 28202    
City Area Code 800    
Local Phone Number 488-3853    
Entity Well-known Seasoned Issuer Yes    
Entity Filer Category Non-accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   100  
Entity Central Index Key 0000078460    
v3.25.0.1
Audit Information
 12 Months Ended
Dec. 31, 2024
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Carolinas  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Progress Energy  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Progress  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Florida  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Ohio  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Duke Energy Indiana  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
Piedmont  
Auditor [Line Items]  
Auditor Firm ID 34
Auditor Name Deloitte & Touche LLP
Auditor Location Charlotte, NC
v3.25.0.1
Condensed Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues      
Regulated electric $ 27,787 $ 26,617 $ 25,759
Regulated natural gas 2,252 2,152 2,724
Nonregulated electric and other 318 291 285
Total operating revenues 30,357 29,060 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Other Income and Expenses      
Equity in (losses) earnings of unconsolidated affiliates (9) 113 113
Other income and expenses, net 661 598 392
Total other income and expenses 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense From Continuing Operations 590 438 300
Income From Continuing Operations 4,604 4,329 3,778
(Loss) Income from discontinued operations, net of tax 10 (1,455) (1,323)
Net Income 4,614 2,874 2,455
Less: Net Income (Loss) Attributable to Noncontrolling Interests 90 33 (95)
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Less: Preferred Dividends 106 106 106
Less: Preferred Redemption Costs 16 0 0
Net Income Available to Duke Energy Corporation Common Stockholders $ 4,402 $ 2,735 $ 2,444
Income from continuing operations available to Duke Energy Corporation common stockholders      
Basic (usd per share) $ 0.01 $ (1.81) $ (1.57)
Diluted (usd per share) 5.70 5.35 4.74
Basic (usd per share) 5.70 5.35 4.74
Diluted (usd per share) 0.01 (1.81) (1.57)
Earnings (Loss) Per Share from discontinued operations attributable to Duke Energy common stockholders      
Basic (usd per share) 0.01 (1.81) (1.57)
Diluted (usd per share) 0.01 (1.81) (1.57)
Net income available to Duke Energy Corporation common stockholders      
Basic (usd per share) 5.71 3.54 3.17
Diluted (usd per share) $ 5.71 $ 3.54 $ 3.17
Weighted average shares outstanding      
Basic (in shares) 772 771 770
Diluted (in shares) 772 771 770
Fuel used in electric generation and purchased power      
Operating Expenses      
Cost of sales $ 9,206 $ 9,086 $ 8,782
Cost of natural gas      
Operating Expenses      
Cost of sales $ 565 $ 593 $ 1,276
v3.25.0.1
Condensed Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest [Abstract]      
Net income $ 4,614 $ 2,874 $ 2,455
Other Comprehensive Income (Loss), net of tax      
Pension and OPEB adjustments [1] 8 (1) (19)
Net unrealized gains on cash flow hedges [1] 209 63 285
Reclassification into earnings from cash flow hedges [1] (5) 27 (38)
Net unrealized gains (losses) on fair value hedges [1] 24 37 (33)
Unrealized gains (losses) on available-for-sale securities [1] (2) 8 (21)
Other Comprehensive Income, net of tax [1] 234 134 174
Comprehensive Income 4,848 3,008 2,629
Less: Comprehensive Income (Loss) Attributable to Noncontrolling Interests 90 33 (84)
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Less: Preferred Dividends 106 106 106
Less: Preferred Redemption Costs 16 0 0
Comprehensive Income Available to Duke Energy Corporation Common Stockholders $ 4,636 $ 2,869 $ 2,607
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Condensed Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Comprehensive Income [Abstract]      
Other comprehensive income, tax expense $ 70 $ 40 $ 52
v3.25.0.1
Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables (net of allowance for doubtful accounts) 1,889 3,019
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Receivable from sales of Commercial Renewables Disposal Groups 551 0
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Assets held for sale 4 14
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Nuclear decommissioning trust funds 11,434 10,143
Operating lease right-of-use assets, net 1,148 1,092
Investments in equity method unconsolidated affiliates 353 492
Total other noncurrent assets held for sale 89 197
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Notes payable and commercial paper 3,584 4,288
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Liabilities associated with assets held for sale 80 122
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Investment tax credits 894 864
Liabilities associated with assets held for sale 89 157
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 45,494 44,920
Retained earnings 3,431 2,235
Accumulated other comprehensive income (loss) 228 (6)
Total Duke Energy Corporation stockholders' equity 50,127 49,112
Noncontrolling interests 1,129 1,075
Total equity 51,256 50,187
Total Liabilities and Equity 186,343 176,893
Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Other (includes amounts related to VIEs) 90  
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other Noncurrent Liabilities    
Other noncurrent liabilities 27 35
Series A Preferred Stock    
Equity    
Preferred stock 973 973
Series B Preferred Stock    
Equity    
Preferred stock $ 0 $ 989
v3.25.0.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Current Assets: Other 695 431
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Other (including amounts related to VIEs) 3,509 3,964
Accounts payable 5,479 4,228
Current maturities of long-term debt 4,349 2,800
Long-Term Debt (includes amounts related to VIEs) $ 76,340 $ 72,452
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 776,000,000 771,000,000
Other (includes $54 at 2023 related to VIEs) $ 1,556 $ 1,393
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 85 150
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Current Assets: Other 90  
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Accounts payable 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other (includes $54 at 2023 related to VIEs) $ 27 $ 35
Series A Preferred Stock    
Preferred stock, par value (in usd per share) $ 0.001 $ 0.001
Preferred stock, depositary shares authorized (in shares) 40,000,000 40,000,000
Preferred stock, depositary shares outstanding (in shares) 40,000,000 40,000,000
Series B Preferred Stock    
Preferred stock, par value (in usd per share) $ 0.001 $ 0.001
Preferred stock, depositary shares authorized (in shares) 1,000,000 1,000,000
Preferred stock, depositary shares outstanding (in shares) 0 1,000,000
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity in losses (earnings) of unconsolidated affiliates 9 (98) (114)
Losses on sales of Commercial Renewables Disposal Groups 14 1,725 1,748
Equity component of AFUDC (233) (198) (197)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations (545) (632) (584)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (103) (18) 19
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Contributions to equity method investments (8) (34) (58)
Return of investment capital 25 16 6
Purchases of debt and equity securities (5,703) (3,761) (4,243)
Proceeds from sales and maturities of debt and equity securities 5,803 3,824 4,333
Proceeds from the sales of other assets 49 149 83
Proceeds from the sales of Commercial Renewables Disposal Groups, net of cash divested 0 734 0
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Proceeds from the issuance of common stock 405 8 9
Redemption of preferred stock (1,000) 0 0
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days 557 610 80
Payments for the redemption of short-term debt with original maturities greater than 90 days (1,096) (125) (287)
Notes payable and commercial paper (388) (343) 781
Contributions from noncontrolling interests 47 278 1,377
Dividends paid (3,213) (3,244) (3,179)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures $ 1,909 $ 1,908 $ 1,766
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - USD ($)
shares in Millions, $ in Millions
Total
Preferred Stock
Total Equity
Common Stock
Additional Paid-in Capital
Retained Earnings
Net Gains (Losses) on Hedges
 [1]
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Pension and OPEB Adjustments
Noncontrolling Interests
Beginning Balance (Attributable to Parent) at Dec. 31, 2021   $ 1,962 $ 49,296 $ 1 $ 44,371 $ 3,265 $ (232) $ (2) $ (69)  
Beginning Balance (in shares) at Dec. 31, 2021       769            
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021                   $ 1,840
Beginning Balance (Parent) at Dec. 31, 2021 $ 51,136                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss)(d) [2] 2,349   2,444     2,444       (95)
Other comprehensive income (loss) 174 [3]   163       203 (21) (19) 11
Common stock issuances, including dividend reinvestment and employee benefits (in shares)       1            
Common stock issuances, including dividend reinvestment and employee benefits 76   76   76          
Common stock dividends (3,073)   (3,073)     (3,073)        
Sale of noncontrolling interest [4] 1,034   465   465         569
Purchase of noncontrolling interest (20)   (51)   (51)         31
Contribution from NCI, net of transaction costs(a) [5] 314                 314
Distributions to NCI in subsidiaries (140)                 (140)
Other 3   2   1 1       1
Ending Balance (Attributable to Parent) at Dec. 31, 2022   1,962 49,322 $ 1 44,862 2,637 (29) (23) (88)  
Beginning Balance (in shares) at Dec. 31, 2022       770            
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022                   2,531
Ending Balance (Parent) at Dec. 31, 2022 51,853                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss)(d) [2] 2,768   2,735     2,735       33
Other comprehensive income (loss) 134 [3]   134       127 8 (1) 0
Common stock issuances, including dividend reinvestment and employee benefits (in shares)       1            
Common stock issuances, including dividend reinvestment and employee benefits 78   78   78          
Common stock dividends (3,138)   (3,138)     (3,138)        
Sale of noncontrolling interest (3)   (13)   (13)         10
Contribution from NCI, net of transaction costs(a) [5] 278                 278
Distributions to NCI in subsidiaries (59)                 (59)
Sale of Commercial Renewables Disposal Groups (1,722)                 (1,722)
Other (2)   (6)   (7) 1       4
Ending Balance (Attributable to Parent) at Dec. 31, 2023 $ 49,112 1,962 49,112 $ 1 44,920 2,235 98 (15) (89)  
Beginning Balance (in shares) at Dec. 31, 2023 771     771            
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2023 $ 1,075                 1,075
Ending Balance (Parent) at Dec. 31, 2023 50,187                  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income (loss)(d) [2] 4,492   4,402     4,402       90
Other comprehensive income (loss) 234 [3]   234       228 (2) 8  
Common stock issuances, including dividend reinvestment and employee benefits (in shares)       5            
Common stock issuances, including dividend reinvestment and employee benefits 574   574   574          
Common stock dividends (3,204)   (3,204)     (3,204)        
Contribution from NCI, net of transaction costs(a) 47                 47
Distributions to NCI in subsidiaries (32)                 (32)
Sale of Commercial Renewables Disposal Groups (51)                 (51)
Other (2)   (2)     (2)       0
Preferred stock, Series B, redemption (989) (989) (989)              
Ending Balance (Attributable to Parent) at Dec. 31, 2024 $ 50,127 $ 973 $ 50,127 $ 1 $ 45,494 $ 3,431 $ 326 $ (17) $ (81)  
Beginning Balance (in shares) at Dec. 31, 2024 776     776            
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2024 $ 1,129                 $ 1,129
Ending Balance (Parent) at Dec. 31, 2024 $ 51,256                  
[1] See Duke Energy Consolidated Statements of Comprehensive Income for detailed activity related to Cash Flow and Fair Value Hedges.
[2] Net income available to Duke Energy Corporation Common Stockholders reflects preferred dividends and, for 2024, the $16 million preferred redemption costs.
[3] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
[4] Relates primarily to the sale of a NCI in Duke Energy Indiana. See Note 2 for additional information.
[5] Relates to tax equity financing activity in the Commercial Renewables Disposal Groups.
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Stockholders' Equity [Abstract]      
Less: Preferred Redemption Costs $ 16 $ 0 $ 0
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Carolinas - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Other Income and Expenses, net 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense From Continuing Operations 590 438 300
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Duke Energy Carolinas      
Operating Revenues 9,718 8,288 7,857
Operating Expenses      
Cost of sales 3,251 2,524 2,015
Operation, maintenance and other 1,740 1,774 1,892
Depreciation and amortization 1,768 1,593 1,526
Property and other taxes 346 320 340
Impairment of assets and other charges 31 44 26
Total operating expenses 7,136 6,255 5,799
Gains on Sales of Other Assets and Other, net 2 26 4
Operating Income 2,584 2,059 2,062
Other Income and Expenses, net 247 238 221
Interest Expense 722 686 557
Income From Continuing Operations Before Income Taxes 2,109 1,611 1,726
Income Tax Expense From Continuing Operations 226 141 126
Net Income Attributable to Duke Energy Corporation 1,883 1,470 1,600
Comprehensive Income Attributable to Duke Energy Corporation $ 1,883 $ 1,470 $ 1,600
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Carolinas - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Receivables (net of allowance for doubtful accounts) 1,889 3,019
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Nuclear decommissioning trust funds 11,434 10,143
Operating lease right-of-use assets, net 1,148 1,092
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Investment tax credits 894 864
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Accumulated other comprehensive income (loss) 228 (6)
Total Liabilities and Equity 186,343 176,893
Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Other (includes amounts related to VIEs) 90  
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other Noncurrent Liabilities    
Other noncurrent liabilities 27 35
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 6 9
Receivables of VIEs (net of allowance for doubtful accounts) 266 265
Receivables (net of allowance for doubtful accounts) 1,054 991
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 1,536 1,484
Regulatory assets 685 1,564
Other (includes amounts related to VIEs) 52 31
Total current assets 3,821 4,547
Property, Plant and Equipment    
Cost 58,382 56,670
Accumulated depreciation and amortization (19,090) (19,896)
Net property, plant and equipment 39,292 36,774
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 4,199 3,916
Nuclear decommissioning trust funds 6,468 5,686
Operating lease right-of-use assets, net 98 78
Other (including amounts related to VIEs) 1,127 1,109
Total other noncurrent assets 11,892 10,789
Total Assets 55,005 52,110
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 1,809 1,183
Taxes accrued 627 281
Interest accrued 201 179
Current maturities of long-term debt 521 19
Asset retirement obligations 247 224
Regulatory liabilities 618 587
Other 541 702
Total current liabilities 4,805 4,038
Long-Term Debt (includes amounts related to VIEs) 16,669 15,693
Other Noncurrent Liabilities    
Deferred income taxes 4,052 4,379
Total noncurrent asset retirement obligation 3,743 3,789
Total noncurrent regulatory liabilities 6,592 5,990
Operating lease liabilities 87 75
Accrued pension and other post-retirement benefit costs 24 57
Investment tax credits 317 301
Other noncurrent liabilities 576 581
Total other noncurrent liabilities 15,391 15,172
Commitments and Contingencies
Equity    
Member's equity 17,846 16,913
Accumulated other comprehensive income (loss) (6) (6)
Total member's equity 17,840 16,907
Total Liabilities and Equity 55,005 52,110
Duke Energy Carolinas | Consolidated VIEs    
Current Assets    
Regulatory assets 12 12
Other (includes amounts related to VIEs) 9 9
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 189 196
Current Liabilities    
Current maturities of long-term debt 510 510
Long-Term Debt (includes amounts related to VIEs) 198 708
Other Noncurrent Liabilities    
Other noncurrent liabilities 15 17
Duke Energy Carolinas | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 157 203
Notes receivable from affiliated companies 65 0
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 241 195
Notes payable to affiliated companies 0 668
Long-Term Debt (includes amounts related to VIEs) $ 300 $ 300
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Carolinas (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Regulatory assets 2,756 3,648
Current Assets: Other 695 431
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Current maturities of long-term debt 4,349 2,800
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 85 150
Regulatory assets 120 110
Current Assets: Other 90  
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Duke Energy Carolinas    
Allowance for doubtful accounts - receivables 18 11
Regulatory assets 685 1,564
Current Assets: Other 52 31
Other Noncurrent Assets: Regulatory assets 4,199 3,916
Current maturities of long-term debt 521 19
Long-Term Debt (includes amounts related to VIEs) 16,669 15,693
Duke Energy Carolinas | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 51 45
Regulatory assets 12 12
Current Assets: Other 9 9
Other Noncurrent Assets: Regulatory assets 189 196
Current maturities of long-term debt 510 510
Long-Term Debt (includes amounts related to VIEs) $ 198 $ 708
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Carolinas - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Gains on sales of other assets (26) (52) (22)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations (545) (632) (584)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (103) (18) 19
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Purchases of debt and equity securities (5,703) (3,761) (4,243)
Proceeds from sales and maturities of debt and equity securities 5,803 3,824 4,333
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Duke Energy Carolinas      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 1,883 1,470 1,600
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,033 1,845 1,787
Equity component of AFUDC (113) (91) (98)
Gains on sales of other assets (2) (26) (4)
Impairment of assets and other charges 31 44 26
Deferred income taxes (28) (53) 210
Contributions to qualified pension plans (26) (26) (15)
Payments for asset retirement obligations (180) (210) (200)
Provision for rate refunds (8) (39) (74)
(Increase) decrease in      
Receivables (49) 22 (102)
Receivables from affiliated companies 46 187 (200)
Inventory (60) (320) (138)
Other current assets 928 (495) (592)
Increase (decrease) in      
Accounts payable 476 (447) 377
Accounts payable to affiliated companies 46 (14) (75)
Taxes accrued 346 64 (46)
Other current liabilities (68) 63 (91)
Other assets (556) 703 (760)
Other liabilities (162) 108 (36)
Net cash provided by operating activities 4,537 2,785 1,569
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (3,966) (3,733) (3,304)
Purchases of debt and equity securities (2,775) (2,025) (2,633)
Proceeds from sales and maturities of debt and equity securities 2,775 2,025 2,633
Proceeds from the sales of other assets   30 62
Notes receivable from affiliated companies (65)    
Other (358) (288) (243)
Net cash used in investing activities (4,389) (3,991) (3,485)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 1,487 2,780 1,441
Payments for the redemption of long-term debt (19) (1,042) (436)
Notes payable to affiliated companies (668) (565) 1,007
Distributions to parent (950) 0 (50)
Other (1) (1) (1)
Net cash provided by financing activities (151) 1,172 1,961
Net increase (decrease) in cash, cash equivalents and restricted cash (3) (34) 45
Cash, cash equivalents and restricted cash at beginning of period 19 53 8
Cash, cash equivalents and restricted cash at end of period 16 19 53
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 683 528 546
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (85) 151 (60)
Significant non-cash transactions:      
Accrued capital expenditures $ 802 $ 613 $ 475
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Carolinas - USD ($)
$ in Millions
Total
Duke Energy Carolinas
Duke Energy Carolinas
Member's Equity
Duke Energy Carolinas
Net Losses on Cash Flow Hedges
Beginning balance at Dec. 31, 2021   $ 13,891 $ 13,897 $ (6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 2,550 1,600 1,600  
Distributions to parent (3,073) (50) (50)  
Other 3 1 1  
Ending balance at Dec. 31, 2022   15,442 15,448 (6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,841 1,470 1,470  
Distributions to parent (3,138)      
Other (2) (5) (5)  
Ending balance at Dec. 31, 2023   16,907 16,913 (6)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 4,524 1,883 1,883  
Distributions to parent (3,204) (950) (950)  
Other $ (2)      
Ending balance at Dec. 31, 2024   $ 17,840 $ 17,846 $ (6)
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Progress Energy - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Other Income and Expenses, net 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense From Continuing Operations 590 438 300
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Pension and OPEB adjustments [1] 8 (1) (19)
Net unrealized gains on cash flow hedges [1] 209 63 285
Unrealized gains (losses) on available-for-sale securities [1] (2) 8 (21)
Other comprehensive income (loss) [1] 234 134 174
Comprehensive Income 4,848 3,008 2,629
Progress Energy      
Operating Revenues 13,633 13,544 13,125
Operating Expenses      
Cost of sales 4,755 5,026 5,078
Operation, maintenance and other 2,463 2,636 2,458
Depreciation and amortization 2,393 2,151 2,142
Property and other taxes 617 644 607
Impairment of assets and other charges 6 28 12
Total operating expenses 10,234 10,485 10,297
Gains on Sales of Other Assets and Other, net 27 27 11
Operating Income 3,426 3,086 2,839
Other Income and Expenses, net 235 201 181
Interest Expense 1,064 954 844
Income From Continuing Operations Before Income Taxes 2,597 2,333 2,176
Income Tax Expense From Continuing Operations 426 377 348
Net Income Attributable to Duke Energy Corporation 2,171 1,956 1,828
Pension and OPEB adjustments 0 (2) 5
Net unrealized gains on cash flow hedges 0 0 1
Unrealized gains (losses) on available-for-sale securities 0 3 (6)
Other comprehensive income (loss) 0 1 0
Comprehensive Income $ 2,171 $ 1,957 $ 1,828
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Condensed Consolidated Balance Sheets - Progress Energy - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Receivables (net of allowance for doubtful accounts) 1,889 3,019
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Nuclear decommissioning trust funds 11,434 10,143
Operating lease right-of-use assets, net 1,148 1,092
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Investment tax credits 894 864
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 45,494 44,920
Retained earnings 3,431 2,235
Accumulated other comprehensive income (loss) 228 (6)
Total Duke Energy Corporation stockholders' equity 50,127 49,112
Noncontrolling interests 1,129 1,075
Total equity 51,256 50,187
Total Liabilities and Equity 186,343 176,893
Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Other (includes amounts related to VIEs) 90  
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other Noncurrent Liabilities    
Other noncurrent liabilities 27 35
Progress Energy    
Current Assets    
Cash and cash equivalents 73 59
Receivables of VIEs (net of allowance for doubtful accounts) 707 225
Receivables (net of allowance for doubtful accounts) 835 1,365
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 2,086 1,901
Regulatory assets 1,647 1,661
Other (includes amounts related to VIEs) 182 134
Total current assets 5,555 5,435
Property, Plant and Equipment    
Cost 72,560 67,644
Accumulated depreciation and amortization (23,586) (22,300)
Net property, plant and equipment 48,974 45,344
Other Noncurrent Assets    
Goodwill 3,655 3,655
Other Noncurrent Assets: Regulatory assets 6,618 6,430
Nuclear decommissioning trust funds 4,967 4,457
Operating lease right-of-use assets, net 625 617
Other (including amounts related to VIEs) 1,242 1,156
Total other noncurrent assets 17,107 16,315
Total Assets 71,636 67,094
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 2,170 1,374
Taxes accrued 312 259
Interest accrued 232 224
Current maturities of long-term debt 1,517 661
Asset retirement obligations 231 245
Regulatory liabilities 522 418
Other 792 860
Total current liabilities 7,360 5,548
Long-Term Debt (includes amounts related to VIEs) 22,829 22,948
Other Noncurrent Liabilities    
Deferred income taxes 5,263 5,197
Total noncurrent asset retirement obligation 4,317 3,900
Total noncurrent regulatory liabilities 5,258 5,083
Operating lease liabilities 557 544
Accrued pension and other post-retirement benefit costs 254 266
Investment tax credits 385 371
Other noncurrent liabilities 357 227
Total other noncurrent liabilities 16,391 15,588
Commitments and Contingencies
Equity    
Common stock 0 0
Additional paid-in capital 11,830 11,830
Retained earnings 13,086 11,040
Accumulated other comprehensive income (loss) (10) (10)
Total Duke Energy Corporation stockholders' equity 24,906 22,860
Total equity 24,906 22,860
Total Liabilities and Equity 71,636 67,094
Progress Energy | Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 108 98
Other (includes amounts related to VIEs) 75 68
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,516 1,446
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 208 188
Current maturities of long-term debt 502 418
Long-Term Debt (includes amounts related to VIEs) 1,582 1,910
Other Noncurrent Liabilities    
Other noncurrent liabilities 11 19
Progress Energy | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 25 90
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 507 464
Notes payable to affiliated companies 1,077 1,043
Long-Term Debt (includes amounts related to VIEs) $ 150 $ 150
v3.25.0.1
Condensed Consolidated Balance Sheets - Progress Energy (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Accounts payable 5,479 4,228
Current Assets: Other 695 431
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Current maturities of long-term debt 4,349 2,800
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other (includes $54 at 2023 related to VIEs) $ 1,556 $ 1,393
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 776,000,000 771,000,000
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs $ 85 $ 150
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Accounts payable 214 188
Current Assets: Other 90  
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other (includes $54 at 2023 related to VIEs) 27 35
Progress Energy    
Allowance for doubtful accounts - receivables 39 18
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 2,086 1,901
Regulatory assets 1,647 1,661
Accounts payable 2,170 1,374
Current Assets: Other 182 134
Other Noncurrent Assets: Regulatory assets 6,618 6,430
Current maturities of long-term debt 1,517 661
Long-Term Debt (includes amounts related to VIEs) 22,829 22,948
Other (includes $54 at 2023 related to VIEs) $ 357 $ 227
Common stock, par value (in usd per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
Progress Energy | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs $ 34 $ 56
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 108 98
Accounts payable 208 188
Current Assets: Other 75 68
Other Noncurrent Assets: Regulatory assets 1,516 1,446
Current maturities of long-term debt 502 418
Long-Term Debt (includes amounts related to VIEs) 1,582 1,910
Other (includes $54 at 2023 related to VIEs) $ 11 $ 19
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Progress Energy - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Gains on sales of other assets (26) (52) (22)
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations (545) (632) (584)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Purchases of debt and equity securities (5,703) (3,761) (4,243)
Proceeds from sales and maturities of debt and equity securities 5,803 3,824 4,333
Proceeds from the sales of other assets 49 149 83
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Progress Energy      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income 2,171 1,956 1,828
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,761 2,721 2,405
Equity component of AFUDC (74) (67) (68)
Gains on sales of other assets (27) (27) (11)
Deferred income taxes 33 (120) 364
Contributions to qualified pension plans (23) (22) (13)
Payments for asset retirement obligations (279) (329) (291)
Provision for rate refunds (2) (24) (58)
(Increase) decrease in      
Receivables 25 21 (322)
Receivables from affiliated companies 65 (68) 117
Inventory (172) (322) (183)
Other current assets 81 287 (937)
Increase (decrease) in      
Accounts payable 867 (266) 222
Accounts payable to affiliated companies 43 (248) 206
Taxes accrued 49 124 8
Other current liabilities 164 9 96
Other assets (723) 357 (1,105)
Other liabilities 94 108 573
Net cash provided by operating activities 5,059 4,118 2,843
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (5,252) (4,917) (4,317)
Purchases of debt and equity securities (2,703) (1,590) (1,341)
Proceeds from sales and maturities of debt and equity securities 2,809 1,663 1,417
Other (463) (329) (137)
Net cash used in investing activities (5,609) (5,173) (4,378)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 1,134 2,555 2,775
Payments for the redemption of long-term debt (467) (1,248) (1,173)
Notes payable to affiliated companies 34 200 465
Dividends to parent (125) (500) (425)
Other (1) (1) (36)
Net cash provided by financing activities 575 1,006 1,606
Net increase (decrease) in cash, cash equivalents and restricted cash 25 (49) 71
Cash, cash equivalents and restricted cash at beginning of period 135 184 113
Cash, cash equivalents and restricted cash at end of period 160 135 184
Supplemental Disclosures:      
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) 315 310 79
Cash paid for interest, net of amount capitalized 1,078 954 854
Significant non-cash transactions:      
Accrued capital expenditures $ 745 $ 806 $ 663
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Progress Energy - USD ($)
$ in Millions
Total
Total Equity
Additional Paid-in Capital
Retained Earnings
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Pension and OPEB Adjustments
Noncontrolling Interests
Progress Energy
Progress Energy
Total Equity
Progress Energy
Additional Paid-in Capital
Progress Energy
Retained Earnings
Progress Energy
Net Gains (Losses) on Cash Flow Hedges
Progress Energy
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Progress Energy
Pension and OPEB Adjustments
Progress Energy
Noncontrolling Interests
Beginning Balance (Attributable to Parent) at Dec. 31, 2021   $ 49,296 $ 44,371 $ 3,265 $ (2) $ (69)     $ 17,145 $ 9,149 $ 8,007 $ (2) $ (2) $ (7)  
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021             $ 1,840               $ 3
Beginning Balance (Parent) at Dec. 31, 2021 $ 51,136             $ 17,148              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 2,455             1,828 1,828   1,828        
Other comprehensive income (loss) 174 [1] 163     (21) (19) 11 0       1 (6) 5  
Distributions to noncontrolling interests (140)           (140) (34)             (34)
Common stock dividends (3,073) (3,073)   (3,073)       (425) (425) (175) (250)        
Equitization of certain notes payable to affiliates               2,907 2,907 2,907          
Purchase of noncontrolling interest (20) (51) (51)       31 (20) (51) (51)         31
Other 3 2 1 1     1 2 2 2          
Ending Balance (Attributable to Parent) at Dec. 31, 2022   49,322 44,862 2,637 (23) (88)     21,406 11,832 9,585 (1) (8) (2)  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022             2,531                
Ending Balance (Parent) at Dec. 31, 2022 51,853             21,406              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 2,874             1,956 1,956   1,956        
Other comprehensive income (loss) 134 [1] 134     8 (1) 0 1 1       3 (2)  
Distributions to noncontrolling interests (59)           (59)                
Common stock dividends (3,138) (3,138)   (3,138)       (500) (500)   (500)        
Other (2) (6) (7) 1     4 (3) (3) (2)          
Ending Balance (Attributable to Parent) at Dec. 31, 2023 49,112 49,112 44,920 2,235 (15) (89)   22,860 22,860 11,830 11,040 (1) (5) (4)  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2023 1,075           1,075               0
Ending Balance (Parent) at Dec. 31, 2023 50,187             22,860              
Increase (Decrease) in Stockholders' Equity [Roll Forward]                              
Net income 4,614             2,171 2,171   2,171        
Other comprehensive income (loss) 234 [1] 234     (2) 8   0              
Distributions to noncontrolling interests (32)           (32)                
Common stock dividends (3,204) (3,204)   (3,204)       (125) (125)   (125)        
Other (2) (2)   (2)     0                
Ending Balance (Attributable to Parent) at Dec. 31, 2024 50,127 $ 50,127 $ 45,494 $ 3,431 $ (17) $ (81)   24,906 $ 24,906 $ 11,830 $ 13,086 $ (1) $ (5) $ (4)  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2024 1,129           $ 1,129               $ 0
Ending Balance (Parent) at Dec. 31, 2024 $ 51,256             $ 24,906              
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Progress - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Other Income and Expenses, net 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense 590 438 300
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Duke Energy Progress      
Operating Revenues 7,017 6,488 6,753
Operating Expenses      
Cost of sales 2,409 2,203 2,492
Operation, maintenance and other 1,388 1,379 1,475
Depreciation and amortization 1,336 1,266 1,187
Property and other taxes 177 164 190
Impairment of assets and other charges 6 29 7
Total operating expenses 5,316 5,041 5,351
Gains on Sales of Other Assets and Other, net 2 3 4
Operating Income 1,703 1,450 1,406
Other Income and Expenses, net 143 124 114
Interest Expense 493 427 354
Income From Continuing Operations Before Income Taxes 1,353 1,147 1,166
Income Tax Expense 189 149 158
Comprehensive Income Attributable to Duke Energy Corporation 1,164 998 1,008
Net Income Attributable to Duke Energy Corporation $ 1,164 $ 998 $ 1,008
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Progress - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Receivables (net of allowance for doubtful accounts) 1,889 3,019
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Nuclear decommissioning trust funds 11,434 10,143
Operating lease right-of-use assets, net 1,148 1,092
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Investment tax credits 894 864
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Total Liabilities and Equity 186,343 176,893
Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Other (includes amounts related to VIEs) 90  
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other Noncurrent Liabilities    
Other noncurrent liabilities 27 35
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 24 18
Receivables of VIEs (net of allowance for doubtful accounts) 160 139
Receivables (net of allowance for doubtful accounts) 835 833
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 1,341 1,227
Regulatory assets 626 942
Other (includes amounts related to VIEs) 104 72
Total current assets 3,100 3,247
Property, Plant and Equipment    
Cost 42,060 39,283
Accumulated depreciation and amortization (15,930) (15,227)
Net property, plant and equipment 26,130 24,056
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 4,555 4,546
Nuclear decommissioning trust funds 4,636 4,075
Operating lease right-of-use assets, net 348 318
Other (including amounts related to VIEs) 724 682
Total other noncurrent assets 10,263 9,621
Total Assets 39,493 36,924
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 749 634
Taxes accrued 394 176
Interest accrued 122 114
Current maturities of long-term debt 983 72
Asset retirement obligations 230 244
Regulatory liabilities 348 300
Other 427 481
Total current liabilities 4,170 3,244
Long-Term Debt (includes amounts related to VIEs) 11,371 11,492
Other Noncurrent Liabilities    
Deferred income taxes 2,344 2,560
Total noncurrent asset retirement obligation 4,104 3,626
Total noncurrent regulatory liabilities 4,570 4,375
Operating lease liabilities 332 293
Accrued pension and other post-retirement benefit costs 141 146
Investment tax credits 144 129
Other noncurrent liabilities 196 102
Total other noncurrent liabilities 11,831 11,231
Commitments and Contingencies
Equity    
Total member's equity 11,971 10,807
Total Liabilities and Equity 39,493 36,924
Duke Energy Progress | Consolidated VIEs    
Current Assets    
Regulatory assets 47 39
Other (includes amounts related to VIEs) 40 31
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 775 643
Current Liabilities    
Current maturities of long-term debt 443 34
Long-Term Debt (includes amounts related to VIEs) 809 1,079
Other Noncurrent Liabilities    
Other noncurrent liabilities 11 12
Duke Energy Progress | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 10 16
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 306 332
Notes payable to affiliated companies 611 891
Long-Term Debt (includes amounts related to VIEs) $ 150 $ 150
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Progress (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Regulatory assets 2,756 3,648
Current Assets: Other 695 431
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Current maturities of long-term debt 4,349 2,800
Long-Term Debt 76,340 72,452
Other (includes $54 at 2023 related to VIEs) 1,556 1,393
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 85 150
Regulatory assets 120 110
Current Assets: Other 90  
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current maturities of long-term debt 1,012 428
Long-Term Debt 1,842 3,000
Other (includes $54 at 2023 related to VIEs) 27 35
Duke Energy Progress    
Allowance for doubtful accounts - receivables 10 8
Regulatory assets 626 942
Current Assets: Other 104 72
Other Noncurrent Assets: Regulatory assets 4,555 4,546
Current maturities of long-term debt 983 72
Long-Term Debt 11,371 11,492
Other (includes $54 at 2023 related to VIEs) 196 102
Duke Energy Progress | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 34 36
Regulatory assets 47 39
Current Assets: Other 40 31
Other Noncurrent Assets: Regulatory assets 775 643
Current maturities of long-term debt 443 34
Long-Term Debt 809 1,079
Other (includes $54 at 2023 related to VIEs) $ 11 $ 12
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Progress - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations (545) (632) (584)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Purchases of debt and equity securities (5,703) (3,761) (4,243)
Proceeds from sales and maturities of debt and equity securities 5,803 3,824 4,333
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Duke Energy Progress      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 1,164 998 1,008
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,520 1,460 1,371
Equity component of AFUDC (61) (52) (52)
Impairment of assets and other charges 6 29 7
Deferred income taxes (224) (53) 121
Contributions to qualified pension plans (14) (13) (8)
Payments for asset retirement obligations (197) (249) (193)
Provision for rate refunds (2) (24) (58)
(Increase) decrease in      
Receivables (11) (10) (228)
Receivables from affiliated companies 6 9 58
Inventory (114) (221) (85)
Other current assets 375 (252) (207)
Increase (decrease) in      
Accounts payable 63 (26) 20
Accounts payable to affiliated companies (26) (176) 198
Taxes accrued 217 99 (86)
Other current liabilities 133 13 13
Other assets (426) 173 (416)
Other liabilities 81 29 38
Net cash provided by operating activities 2,490 1,734 1,501
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (2,803) (2,387) (2,070)
Purchases of debt and equity securities (2,480) (1,406) (1,148)
Proceeds from sales and maturities of debt and equity securities 2,480 1,402 1,138
Other (172) (144) (29)
Net cash used in investing activities (2,975) (2,535) (2,109)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 855 991 1,477
Payments for the redemption of long-term debt (72) (369) (645)
Notes payable to affiliated companies (280) 652 67
Distributions to parent 0 (500) (250)
Other 0 (1) (1)
Net cash provided by financing activities 503 773 648
Net increase (decrease) in cash, cash equivalents and restricted cash 18 (28) 40
Cash, cash equivalents and restricted cash at beginning of period 51 79 39
Cash, cash equivalents and restricted cash at end of period 69 51 79
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 522 447 386
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) 192 73 157
Significant non-cash transactions:      
Accrued capital expenditures $ 374 $ 313 $ 269
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Progress - USD ($)
$ in Millions
Total
Duke Energy Progress
Duke Energy Progress
Member's Equity
Beginning balance at Dec. 31, 2021     $ 9,551
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income (loss) $ 2,550 $ 1,008 1,008
Distributions to parent (3,073)   (250)
Ending balance at Dec. 31, 2022     10,309
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income (loss) 2,841 998 998
Distributions to parent (3,138)   (500)
Ending balance at Dec. 31, 2023   10,807 10,807
Increase (Decrease) in Stockholders' Equity [Roll Forward]      
Net income (loss) 4,524 1,164 1,164
Distributions to parent $ (3,204)    
Ending balance at Dec. 31, 2024   $ 11,971 $ 11,971
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Florida - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Other Income and Expenses, net 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense 590 438 300
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Unrealized gains (losses) on available-for-sale securities [1] (2) 8 (21)
Other Comprehensive Income, net of tax [1] 234 134 174
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Duke Energy Florida      
Operating Revenues 6,595 7,036 6,353
Operating Expenses      
Cost of sales 2,346 2,823 2,586
Operation, maintenance and other 1,055 1,239 967
Depreciation and amortization 1,057 885 955
Property and other taxes 440 480 421
Impairment of assets and other charges 0 (1) 4
Total operating expenses 4,898 5,426 4,933
Gains on Sales of Other Assets and Other, net 3 2 2
Operating Income 1,700 1,612 1,422
Other Income and Expenses, net 86 78 74
Interest Expense 457 413 362
Income From Continuing Operations Before Income Taxes 1,329 1,277 1,134
Income Tax Expense 268 261 225
Net Income Attributable to Duke Energy Corporation 1,061 1,016 909
Unrealized gains (losses) on available-for-sale securities 0 3 (5)
Other Comprehensive Income, net of tax 0 3 (5)
Comprehensive Income Attributable to Duke Energy Corporation $ 1,061 $ 1,019 $ 904
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Florida - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Receivables (net of allowance for doubtful accounts) 1,889 3,019
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Nuclear decommissioning trust funds 11,434 10,143
Operating lease right-of-use assets, net 1,148 1,092
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Investment tax credits 894 864
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Accumulated other comprehensive income (loss) 228 (6)
Total Liabilities and Equity 186,343 176,893
Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Other (includes amounts related to VIEs) 90  
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other Noncurrent Liabilities    
Other noncurrent liabilities 27 35
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 33 24
Receivables of VIEs (net of allowance for doubtful accounts) 544 83
Receivables (net of allowance for doubtful accounts) 0 532
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 745 674
Regulatory assets 1,022 720
Other (includes amounts related to VIEs) 227 51
Total current assets 2,592 2,322
Property, Plant and Equipment    
Cost 30,490 28,353
Accumulated depreciation and amortization (7,650) (7,067)
Net property, plant and equipment 22,840 21,286
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 2,064 1,883
Nuclear decommissioning trust funds 331 382
Operating lease right-of-use assets, net 277 299
Other (including amounts related to VIEs) 465 429
Total other noncurrent assets 3,137 2,993
Total Assets 28,569 26,601
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 1,418 738
Taxes accrued 60 185
Interest accrued 86 86
Current maturities of long-term debt 534 589
Asset retirement obligations 1 1
Regulatory liabilities 174 118
Other 342 350
Total current liabilities 3,148 2,354
Long-Term Debt (includes amounts related to VIEs) 9,814 9,812
Other Noncurrent Liabilities    
Deferred income taxes 3,024 2,733
Total noncurrent asset retirement obligation 213 274
Total noncurrent regulatory liabilities 688 708
Operating lease liabilities 225 251
Accrued pension and other post-retirement benefit costs 92 98
Investment tax credits 241 242
Other noncurrent liabilities 143 86
Total other noncurrent liabilities 4,626 4,392
Commitments and Contingencies
Equity    
Member's equity 10,986 10,048
Accumulated other comprehensive income (loss) (5) (5)
Total member's equity 10,981 10,043
Total Liabilities and Equity 28,569 26,601
Duke Energy Florida | Consolidated VIEs    
Current Assets    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 61 59
Other (includes amounts related to VIEs) 35 37
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 741 803
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 208 188
Current maturities of long-term debt 59 384
Long-Term Debt (includes amounts related to VIEs) 773 831
Duke Energy Florida | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 21 238
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 67 135
Notes payable to affiliated companies $ 466 $ 152
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Florida (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Current Assets: Other 695 431
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Accounts payable 5,479 4,228
Current maturities of long-term debt 4,349 2,800
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other (includes $54 at 2023 related to VIEs) 1,556 1,393
Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs 85 150
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 120 110
Current Assets: Other 90  
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Accounts payable 214 188
Current maturities of long-term debt 1,012 428
Long-Term Debt (includes amounts related to VIEs) 1,842 3,000
Other (includes $54 at 2023 related to VIEs) 27 35
Duke Energy Florida    
Allowance for doubtful accounts - receivables 29 11
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 745 674
Regulatory assets 1,022 720
Current Assets: Other 227 51
Other Noncurrent Assets: Regulatory assets 2,064 1,883
Accounts payable 1,418 738
Current maturities of long-term debt 534 589
Long-Term Debt (includes amounts related to VIEs) 9,814 9,812
Other (includes $54 at 2023 related to VIEs) 143 86
Duke Energy Florida | Consolidated VIEs    
Allowance for doubtful accounts - receivables of VIEs   20
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Regulatory assets 61 59
Current Assets: Other 35 37
Other Noncurrent Assets: Regulatory assets 741 803
Accounts payable 208 188
Current maturities of long-term debt 59 384
Long-Term Debt (includes amounts related to VIEs) $ 773 $ 831
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Florida - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Gains on sales of other assets (26) (52) (22)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations (545) (632) (584)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Net realized and unrealized mark-to-market and hedging transactions (103) (18) 19
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Purchases of debt and equity securities (5,703) (3,761) (4,243)
Proceeds from sales and maturities of debt and equity securities 5,803 3,824 4,333
Proceeds from the sales of other assets 49 149 83
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Duke Energy Florida      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 1,061 1,016 909
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,239 1,260 1,032
Equity component of AFUDC (13) (15) (16)
Impairment of assets and other charges 0 (1) 4
Deferred income taxes 265 (89) 285
Contributions to qualified pension plans (9) (9) (5)
Payments for asset retirement obligations (82) (80) (98)
(Increase) decrease in      
Receivables 37 30 (93)
Receivables from affiliated companies 217 (236) 14
Inventory (58) (101) (98)
Other current assets (456) 496 (640)
Increase (decrease) in      
Accounts payable 803 (241) 202
Accounts payable to affiliated companies (68) (42) (32)
Taxes accrued (129) 132 2
Other current liabilities 37 3 62
Other assets (312) 163 (704)
Other liabilities 38 101 18
Net cash provided by operating activities 2,570 2,387 842
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (2,449) (2,529) (2,247)
Purchases of debt and equity securities (223) (184) (193)
Proceeds from sales and maturities of debt and equity securities 330 261 279
Other (292) (185) (108)
Net cash used in investing activities (2,634) (2,637) (2,269)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 279 1,564 1,298
Payments for the redemption of long-term debt (395) (879) (77)
Notes payable to affiliated companies 314 (453) 406
Distributions to parent (125) 0 (175)
Other (1) (1) (1)
Net cash provided by financing activities 72 231 1,451
Net increase (decrease) in cash, cash equivalents and restricted cash 8 (19) 24
Cash, cash equivalents and restricted cash at beginning of period 67 86 62
Cash, cash equivalents and restricted cash at end of period 75 67 86
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 442 394 339
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) 270 219 (83)
Significant non-cash transactions:      
Accrued capital expenditures $ 371 $ 493 $ 394
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Florida - USD ($)
$ in Millions
Total
Duke Energy Florida
Duke Energy Florida
Member's Equity
Duke Energy Florida
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Beginning balance at Dec. 31, 2021   $ 8,295 $ 8,298 $ (3)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 2,550 909 909  
Other comprehensive income (loss) (21) [1] (5)   (5)
Distributions to parent (3,073) (175) (175)  
Other 3 (1) (1)  
Ending balance at Dec. 31, 2022   9,023 9,031 (8)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,841 1,016 1,016  
Other comprehensive income (loss) 8 [1] 3   3
Distributions to parent (3,138)      
Other (2) 1 1  
Ending balance at Dec. 31, 2023   10,043 10,048 (5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 4,524 1,061 1,061  
Other comprehensive income (loss) (2) [1] 0    
Distributions to parent (3,204) (125) (125)  
Other $ (2) 2 2  
Ending balance at Dec. 31, 2024   $ 10,981 $ 10,986 $ (5)
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Ohio - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Regulated electric $ 27,787 $ 26,617 $ 25,759
Regulated natural gas 2,252 2,152 2,724
Total operating revenues 30,357 29,060 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Other Income and Expenses, net 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense From Continuing Operations 590 438 300
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Fuel used in electric generation and purchased power      
Operating Expenses      
Cost of sales 9,206 9,086 8,782
Cost of natural gas      
Operating Expenses      
Cost of sales 565 593 1,276
Duke Energy Ohio      
Regulated electric 1,905 1,868 1,798
Regulated natural gas 640 639 716
Total operating revenues 2,545 2,507 2,514
Operating Expenses      
Operation, maintenance and other 485 478 523
Depreciation and amortization 403 367 324
Property and other taxes 400 364 369
Impairment of assets and other charges 0 3 (10)
Total operating expenses 1,968 1,983 2,124
Gains on Sales of Other Assets and Other, net 1 1 1
Operating Income 578 525 391
Other Income and Expenses, net 19 41 19
Interest Expense 192 169 129
Income From Continuing Operations Before Income Taxes 405 397 281
Income Tax Expense From Continuing Operations 64 63 (21)
Comprehensive Income Attributable to Duke Energy Corporation 341 334 302
Net Income Attributable to Duke Energy Corporation 341 334 302
Duke Energy Ohio | Fuel used in electric generation and purchased power      
Operating Expenses      
Cost of sales 538 608 657
Duke Energy Ohio | Cost of natural gas      
Operating Expenses      
Cost of sales $ 142 $ 163 $ 261
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Ohio - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Operating lease right-of-use assets, net 1,148 1,092
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 45,494 44,920
Retained earnings 3,431 2,235
Total Duke Energy Corporation stockholders' equity 50,127 49,112
Total Liabilities and Equity 186,343 176,893
Duke Energy Ohio    
Current Assets    
Cash and cash equivalents 24 24
Receivables of VIEs (net of allowance for doubtful accounts) 447 112
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 183 179
Regulatory assets 88 73
Other (includes amounts related to VIEs) 30 134
Total current assets 811 761
Property, Plant and Equipment    
Cost 13,918 13,210
Accumulated depreciation and amortization (3,674) (3,451)
Net property, plant and equipment 10,244 9,759
Other Noncurrent Assets    
Goodwill 920 920
Other Noncurrent Assets: Regulatory assets 705 676
Operating lease right-of-use assets, net 6 16
Other (including amounts related to VIEs) 82 84
Total other noncurrent assets 1,713 1,696
Total Assets 12,768 12,216
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 313 338
Taxes accrued 363 316
Interest accrued 49 35
Current maturities of long-term debt 245 0
Asset retirement obligations 8 6
Regulatory liabilities 34 56
Other 67 65
Total current liabilities 1,293 1,500
Other Noncurrent Liabilities    
Deferred income taxes 1,314 1,272
Total noncurrent asset retirement obligation 131 130
Total noncurrent regulatory liabilities 465 497
Operating lease liabilities 6 16
Accrued pension and other post-retirement benefit costs 89 97
Other noncurrent liabilities 91 86
Total other noncurrent liabilities 2,096 2,098
Commitments and Contingencies
Equity    
Common stock 762 762
Additional paid-in capital 3,118 3,100
Retained earnings 1,579 1,238
Total Duke Energy Corporation stockholders' equity 5,459 5,100
Total Liabilities and Equity 12,768 12,216
Duke Energy Ohio | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 11 239
Notes receivable from affiliated companies 28 0
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 52 71
Notes payable to affiliated companies 162 613
Long-Term Debt (includes amounts related to VIEs) 25 25
Duke Energy Ohio | Nonrelated Party    
Current Liabilities    
Long-Term Debt (includes amounts related to VIEs) $ 3,895 $ 3,493
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Ohio (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 776,000,000 771,000,000
Duke Energy Ohio    
Allowance for doubtful accounts - receivables $ 43 $ 9
Common stock, par value (in usd per share) $ 8.50 $ 8.50
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares outstanding (in shares) 90,000,000 90,000,000
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Ohio - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Equity in losses (earnings) of unconsolidated affiliates 9 (98) (114)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations (545) (632) (584)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Duke Energy Ohio      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 341 334 302
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 408 371 328
Equity component of AFUDC (7) (9) (7)
Impairment of assets and other charges 0 3 (10)
Deferred income taxes 8 113 (22)
Contributions to qualified pension plans (5) (5) (3)
Payments for asset retirement obligations (6) (13) (12)
Provision for rate refunds 0 0 5
(Increase) decrease in      
Receivables 2 (38) 23
Receivables from affiliated companies 57 (40) (5)
Inventory (4) (35) (28)
Other current assets 78 (23) (55)
Increase (decrease) in      
Accounts payable (10) (34) 44
Accounts payable to affiliated companies (19) (1) 8
Taxes accrued 47 (1) 42
Other current liabilities (5) (54) (63)
Other assets 45 (24) (29)
Other liabilities (25) (38) 64
Net cash provided by operating activities 905 506 582
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (815) (939) (850)
Proceeds from the sales of other assets 0 75 0
Notes receivable from affiliated companies 194 (48) 105
Other (88) (67) (67)
Net cash used in investing activities (1,097) (883) (1,022)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 644 774 50
Payments for the redemption of long-term debt 0 (500) 0
Notes payable to affiliated companies (451) 116 395
Other (1) (5) (2)
Net cash provided by financing activities 192 385 443
Net increase (decrease) in cash, cash equivalents and restricted cash 0 8 3
Cash, cash equivalents and restricted cash at beginning of period 24 16 13
Cash, cash equivalents and restricted cash at end of period 24 24 16
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 175 158 126
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (79) 58 (35)
Significant non-cash transactions:      
Accrued capital expenditures $ 99 $ 115 $ 123
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Ohio - USD ($)
$ in Millions
Total
Common Stock
Additional Paid-in Capital
Retained Earnings
Duke Energy Ohio
Duke Energy Ohio
Common Stock
Duke Energy Ohio
Additional Paid-in Capital
Duke Energy Ohio
Retained Earnings
Beginning Balance (Attributable to Parent) at Dec. 31, 2021   $ 1 $ 44,371 $ 3,265 $ 4,464 $ 762 $ 3,100 $ 602
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) $ 2,550       302     302
Other 3   1 1        
Ending Balance (Attributable to Parent) at Dec. 31, 2022   1 44,862 2,637 4,766 762 3,100 904
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 2,841       334     334
Other (2)   (7) 1        
Ending Balance (Attributable to Parent) at Dec. 31, 2023 49,112 1 44,920 2,235 5,100 762 3,100 1,238
Increase (Decrease) in Stockholders' Equity [Roll Forward]                
Net income (loss) 4,524       341     341
Other (2)     (2) 18   18  
Ending Balance (Attributable to Parent) at Dec. 31, 2024 $ 50,127 $ 1 $ 45,494 $ 3,431 $ 5,459 $ 762 $ 3,118 $ 1,579
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Duke Energy Indiana - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Operating Income 7,926 7,070 6,012
Other Income and Expenses, net 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Income Tax Expense From Continuing Operations 590 438 300
Other comprehensive income (loss) [1] 234 134 174
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Duke Energy Indiana      
Operating Revenues 3,040 3,399 3,922
Operating Expenses      
Cost of sales 964 1,217 1,819
Operation, maintenance and other 671 713 729
Depreciation and amortization 676 666 645
Property and other taxes 50 59 75
Impairment of assets and other charges 0 0 388
Total operating expenses 2,361 2,655 3,656
Operating Income 679 744 266
Other Income and Expenses, net 62 76 36
Interest Expense 229 213 189
Income From Continuing Operations Before Income Taxes 512 607 113
Net Income Attributable to Duke Energy Corporation 441 497 137
Income Tax Expense From Continuing Operations 71 110 (24)
Other comprehensive income (loss) (1) 0 0
Comprehensive Income Attributable to Duke Energy Corporation $ 440 $ 497 $ 137
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Indiana - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Operating lease right-of-use assets, net 1,148 1,092
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Asset retirement obligations 650 596
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Investment tax credits 894 864
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Accumulated other comprehensive income (loss) 228 (6)
Total Liabilities and Equity 186,343 176,893
Duke Energy Indiana    
Current Assets    
Cash and cash equivalents 13 8
Receivables of VIEs (net of allowance for doubtful accounts) 423 156
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 586 582
Regulatory assets 113 102
Other 69 98
Total current assets 1,205 1,143
Property, Plant and Equipment    
Cost 19,970 18,900
Accumulated depreciation and amortization (6,848) (6,501)
Net property, plant and equipment 13,122 12,399
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,040 894
Operating lease right-of-use assets, net 37 50
Other (including amounts related to VIEs) 323 325
Total other noncurrent assets 1,400 1,269
Total Assets 15,727 14,811
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 257 300
Taxes accrued 168 66
Interest accrued 59 54
Current maturities of long-term debt 4 4
Asset retirement obligations 164 120
Regulatory liabilities 183 209
Other 183 184
Total current liabilities 1,085 1,369
Long-Term Debt (includes amounts related to VIEs) 4,644 4,348
Other Noncurrent Liabilities    
Deferred income taxes 1,494 1,436
Total noncurrent asset retirement obligation 1,104 689
Total noncurrent regulatory liabilities 1,404 1,459
Operating lease liabilities 33 46
Accrued pension and other post-retirement benefit costs 82 115
Investment tax credits 186 186
Other noncurrent liabilities 19 0
Total other noncurrent liabilities 4,322 3,931
Commitments and Contingencies
Equity    
Member's equity 5,526 5,012
Accumulated other comprehensive income (loss) 0 1
Total member's equity 5,526 5,013
Total Liabilities and Equity 15,727 14,811
Duke Energy Indiana | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 1 197
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 57 176
Notes payable to affiliated companies 10 256
Long-Term Debt (includes amounts related to VIEs) $ 150 $ 150
v3.25.0.1
Condensed Consolidated Balance Sheets - Duke Energy Indiana (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Duke Energy Indiana    
Allowance for doubtful accounts - receivables $ 15 $ 5
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Indiana - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Payments for asset retirement obligations 545 632 584
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Purchases of debt and equity securities (5,703) (3,761) (4,243)
Proceeds from sales and maturities of debt and equity securities 5,803 3,824 4,333
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Duke Energy Indiana      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 441 497 137
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 679 669 648
Equity component of AFUDC (19) (10) (13)
Impairment of assets and other charges 0 0 388
Deferred income taxes (11) 91 (64)
Contributions to qualified pension plans (8) (8) (5)
Payments for asset retirement obligations 80 81 82
Provision for rate refunds (18) 0 0
(Increase) decrease in      
Receivables 27 (40) (3)
Receivables from affiliated companies 5 (8) 20
Inventory (4) (93) (70)
Other current assets 70 138 (3)
Increase (decrease) in      
Accounts payable (44) (83) 105
Accounts payable to affiliated companies (78) 42 (3)
Taxes accrued 102 (26) 34
Other current liabilities (31) 128 9
Other assets (33) (69) (10)
Other liabilities 25 7 13
Net cash provided by operating activities 1,023 1,154 1,101
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (935) (961) (877)
Purchases of debt and equity securities (133) (68) (61)
Proceeds from sales and maturities of debt and equity securities 132 55 48
Notes receivable from affiliated companies (117) 109 (86)
Other (46) (66) (55)
Net cash used in investing activities (1,099) (931) (1,031)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 298 495 67
Payments for the redemption of long-term debt (4) (303) (84)
Notes payable to affiliated companies (246) (178) 435
Capital contribution from parent 235 0 0
Distributions to parent (201) (259) (462)
Other (1) (1) (1)
Net cash provided by financing activities 81 (246) (45)
Net increase (decrease) in cash, cash equivalents and restricted cash 5 (23) 25
Cash, cash equivalents and restricted cash at beginning of period 8 31 6
Cash, cash equivalents and restricted cash at end of period 13 8 31
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 219 202 186
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (80) 90 35
Significant non-cash transactions:      
Accrued capital expenditures $ 115 $ 114 $ 122
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Duke Energy Indiana - USD ($)
$ in Millions
Total
Duke Energy Indiana
Duke Energy Indiana
Member's Equity
Duke Energy Indiana
Pension and OPEB Adjustments
Beginning balance at Dec. 31, 2021   $ 5,015 $ 5,015  
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) $ 2,550 137 137  
Distributions to parent (3,073) (450) (450)  
Other 3 1   $ 1
Ending balance at Dec. 31, 2022   4,703 4,702 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 2,841 497 497  
Distributions to parent (3,138) (187) (187)  
Other (2)      
Ending balance at Dec. 31, 2023   5,013 5,012 1
Increase (Decrease) in Stockholders' Equity [Roll Forward]        
Net income (loss) 4,524 441 441  
Distributions to parent (3,204) (160) (160)  
Other $ (2) (3) (2) (1)
Contribution from parent   235 235  
Ending balance at Dec. 31, 2024   $ 5,526 $ 5,526 $ 0
v3.25.0.1
Condensed Consolidated Statements of Operations and Comprehensive Income - Piedmont - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Regulated natural gas $ 2,252 $ 2,152 $ 2,724
Nonregulated electric and other 318 291 285
Total operating revenues 30,357 29,060 28,768
Operating Expenses      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Total operating expenses 22,457 22,042 22,778
Gains on Sales of Other Assets and Other, net 26 52 22
Operating Income 7,926 7,070 6,012
Equity in (losses) earnings of unconsolidated affiliates (9) 113 113
Other income and expenses, net 661 598 392
Total other income and expenses 652 711 505
Interest Expense 3,384 3,014 2,439
Income From Continuing Operations Before Income Taxes 5,194 4,767 4,078
Income Tax Expense From Continuing Operations 590 438 300
Net Income Attributable to Duke Energy Corporation 4,524 2,841 2,550
Comprehensive Income Attributable to Duke Energy Corporation 4,758 2,975 2,713
Piedmont      
Regulated natural gas 1,702 1,603 2,100
Nonregulated electric and other 27 25 24
Total operating revenues 1,729 1,628 2,124
Operating Expenses      
Cost of natural gas 423 430 1,015
Operation, maintenance and other 359 344 368
Depreciation and amortization 261 237 222
Property and other taxes 55 59 57
Impairment of assets and other charges 0 (4) 18
Total operating expenses 1,098 1,066 1,680
Gains on Sales of Other Assets and Other, net 0 0 4
Operating Income 631 562 448
Equity in (losses) earnings of unconsolidated affiliates 8 9 8
Other income and expenses, net 54 57 46
Total other income and expenses 62 66 54
Interest Expense 185 165 140
Income From Continuing Operations Before Income Taxes 508 463 362
Income Tax Expense From Continuing Operations 95 84 39
Net Income Attributable to Duke Energy Corporation 413 379 323
Comprehensive Income Attributable to Duke Energy Corporation $ 413 $ 379 $ 323
v3.25.0.1
Condensed Consolidated Balance Sheets - Piedmont - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Receivables of VIEs (net of allowance for doubtful accounts) 2,232 1,112
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Regulatory assets 2,756 3,648
Other (includes amounts related to VIEs) 695 431
Total current assets 12,950 12,769
Property, Plant and Equipment    
Cost 180,806 171,353
Accumulated depreciation and amortization (57,503) (56,038)
Net property, plant and equipment 123,303 115,315
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Operating lease right-of-use assets, net 1,148 1,092
Investments in equity method unconsolidated affiliates 353 492
Other (including amounts related to VIEs) 3,509 3,964
Total other noncurrent assets 50,090 48,809
Total Assets 186,343 176,893
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 5,479 4,228
Taxes accrued 851 816
Interest accrued 855 745
Current maturities of long-term debt 4,349 2,800
Regulatory liabilities 1,425 1,369
Other 2,084 2,319
Total current liabilities 19,357 17,283
Long-Term Debt (includes amounts related to VIEs) 76,340 72,452
Other Noncurrent Liabilities    
Deferred income taxes 11,424 10,556
Total noncurrent asset retirement obligation 9,342 8,560
Total noncurrent regulatory liabilities 14,694 14,039
Operating lease liabilities 957 917
Accrued pension and other post-retirement benefit costs 434 485
Other noncurrent liabilities 1,556 1,393
Total other noncurrent liabilities 39,390 36,971
Commitments and Contingencies
Equity    
Common stock 1 1
Retained earnings 3,431 2,235
Total Duke Energy Corporation stockholders' equity 50,127 49,112
Noncontrolling interests 1,129 1,075
Total equity 51,256 50,187
Total Liabilities and Equity 186,343 176,893
Piedmont    
Current Assets    
Cash and cash equivalents 2 0
Receivables of VIEs (net of allowance for doubtful accounts) 368 311
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 78 112
Regulatory assets 158 161
Other (includes amounts related to VIEs) 11 7
Total current assets 633 601
Property, Plant and Equipment    
Cost 12,780 11,908
Accumulated depreciation and amortization (2,432) (2,259)
Net property, plant and equipment 10,348 9,649
Other Noncurrent Assets    
Goodwill 49 49
Other Noncurrent Assets: Regulatory assets 421 410
Operating lease right-of-use assets, net 4 4
Investments in equity method unconsolidated affiliates 76 78
Other (including amounts related to VIEs) 268 276
Total other noncurrent assets 818 817
Total Assets 11,799 11,067
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 237 315
Taxes accrued 84 89
Interest accrued 45 39
Current maturities of long-term debt 205 40
Regulatory liabilities 68 98
Other 76 77
Total current liabilities 1,480 1,250
Long-Term Debt (includes amounts related to VIEs) 3,798 3,628
Other Noncurrent Liabilities    
Deferred income taxes 1,018 933
Total noncurrent asset retirement obligation 29 26
Total noncurrent regulatory liabilities 956 988
Operating lease liabilities 7 10
Accrued pension and other post-retirement benefit costs 7 8
Other noncurrent liabilities 150 172
Total other noncurrent liabilities 2,167 2,137
Commitments and Contingencies
Equity    
Common stock 1,635 1,635
Retained earnings 2,718 2,416
Total Duke Energy Corporation stockholders' equity 4,353 4,051
Noncontrolling interests 1 1
Total equity 4,354 4,052
Total Liabilities and Equity 11,799 11,067
Piedmont | Affiliated entity    
Current Assets    
Receivables of VIEs (net of allowance for doubtful accounts) 16 10
Current Liabilities    
Accounts payable (includes $214 at 2024 and $188 at 2023 related to VIEs) 26 54
Notes payable to affiliated companies $ 739 $ 538
v3.25.0.1
Condensed Consolidated Balance Sheets - Piedmont (Parenthetical) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Allowance for doubtful accounts - receivables $ 124 $ 55
Common stock, par value (in usd per share) $ 0.001 $ 0.001
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 776,000,000 771,000,000
Piedmont    
Allowance for doubtful accounts - receivables $ 10 $ 11
Common stock, par value (in usd per share) $ 0 $ 0
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Piedmont - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) $ 4,614 $ 2,874 $ 2,455
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Equity component of AFUDC (233) (198) (197)
Gains on sales of other assets (26) (52) (22)
Impairment of assets and other charges 38 85 434
Deferred income taxes 987 3 (200)
Contributions to qualified pension plans (100) (100) (58)
Provision for rate refunds (27) (63) (130)
(Increase) decrease in      
Receivables (23) 443 (788)
Inventory (212) (706) (476)
Other current assets 885 (267) (1,498)
Increase (decrease) in      
Accounts payable 1,329 (800) 805
Taxes accrued 32 126 10
Other current liabilities (11) (26) (153)
Other assets (1,170) 914 (1,577)
Other liabilities 451 584 410
Net cash provided by operating activities 12,328 9,878 5,927
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (12,280) (12,604) (11,367)
Contributions to equity method investments (8) (34) (58)
Other (1,009) (799) (727)
Net cash used in investing activities (13,123) (12,475) (11,973)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 8,956 10,028 11,874
Payments for the redemption of long-term debt (3,357) (4,737) (4,396)
Other (52) (124) (130)
Net cash provided by financing activities 859 2,351 6,129
Net increase (decrease) in cash, cash equivalents and restricted cash 64 (246) 83
Cash, cash equivalents and restricted cash at beginning of period 357 603 520
Cash, cash equivalents and restricted cash at end of period 421 357 603
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 3,284 2,883 2,361
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) (400) 1 (6)
Significant non-cash transactions:      
Accrued capital expenditures 1,909 1,908 1,766
Piedmont      
CASH FLOWS FROM OPERATING ACTIVITIES      
Net income (loss) 413 379 323
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation, amortization and accretion (including amortization of nuclear fuel) 264 239 225
Equity component of AFUDC (21) (21) (11)
Impairment of assets and other charges 0 (4) 18
Deferred income taxes 60 38 5
Equity in earnings of unconsolidated affiliates (8) (9) (8)
Contributions to qualified pension plans (3) (3) (2)
Provision for rate refunds 0 0 (3)
(Increase) decrease in      
Receivables (61) 127 (111)
Receivables from affiliated companies (6) 1 0
Inventory 34 58 (63)
Other current assets (9) (46) 32
Increase (decrease) in      
Accounts payable 40 (45) 40
Accounts payable to affiliated companies (28) 3 11
Taxes accrued (5) 15 11
Other current liabilities (13) 27 36
Other assets (16) (7) 5
Other liabilities 17 10 (1)
Net cash provided by operating activities 658 762 507
CASH FLOWS FROM INVESTING ACTIVITIES      
Capital expenditures (1,025) (1,036) (862)
Contributions to equity method investments 0 0 (8)
Other (54) (54) (26)
Net cash used in investing activities (1,079) (1,090) (896)
CASH FLOWS FROM FINANCING ACTIVITIES      
Proceeds from the issuance of long-term debt 373 348 394
Payments for the redemption of long-term debt (40) (45) 0
Notes payable to affiliated companies 200 25 (4)
Distributions to parent (110) 0 0
Other 0 0 (1)
Net cash provided by financing activities 423 328 389
Net increase (decrease) in cash, cash equivalents and restricted cash 2 0 0
Cash, cash equivalents and restricted cash at beginning of period 0 0 0
Cash, cash equivalents and restricted cash at end of period 2 0 0
Supplemental Disclosures:      
Cash paid for interest, net of amount capitalized 176 162 135
Cash paid for (received from) income taxes, net (includes transferable tax credit sale proceeds of $558, $28 and $0, respectively) 48 28 23
Significant non-cash transactions:      
Accrued capital expenditures $ 105 $ 223 $ 207
v3.25.0.1
Condensed Consolidated Statements of Changes in Equity - Piedmont - USD ($)
$ in Millions
Total
Common Stock
Retained Earnings
Total Equity
Noncontrolling Interests
Piedmont
Piedmont
Common Stock
Piedmont
Retained Earnings
Piedmont
Total Equity
Piedmont
Noncontrolling Interests
Beginning Balance (Attributable to Parent) at Dec. 31, 2021   $ 1 $ 3,265 $ 49,296     $ 1,635 $ 1,714 $ 3,349  
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021         $ 1,840         $ 0
Beginning Balance (Parent) at Dec. 31, 2021 $ 51,136         $ 3,349        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 2,455         323   323 323  
Distributions to parent (3,073)   (3,073) (3,073)            
Other 3   1 2 1 1       1
Ending Balance (Attributable to Parent) at Dec. 31, 2022   1 2,637 49,322     1,635 2,037 3,672  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022         2,531         1
Ending Balance (Parent) at Dec. 31, 2022 51,853         3,673        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 2,874         379   379 379  
Distributions to parent (3,138)   (3,138) (3,138)            
Other (2)   1 (6) 4          
Ending Balance (Attributable to Parent) at Dec. 31, 2023 49,112 1 2,235 49,112   4,051 1,635 2,416 4,051  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2023 1,075       1,075 1       1
Ending Balance (Parent) at Dec. 31, 2023 50,187         4,052        
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 4,614         413   413 413  
Distributions to parent (3,204)   (3,204) (3,204)   (110)   (110) (110)  
Other (2)   (2) (2) 0 (1)   (1) (1)  
Ending Balance (Attributable to Parent) at Dec. 31, 2024 50,127 $ 1 $ 3,431 $ 50,127   4,353 $ 1,635 $ 2,718 $ 4,353  
Ending Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2024 1,129       $ 1,129 1       $ 1
Ending Balance (Parent) at Dec. 31, 2024 $ 51,256         $ 4,354        
v3.25.0.1
Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Statement of Cash Flows [Abstract]      
Net proceeds related to the sale of certain tax credits $ 558 $ 28 $ 0
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Carolinas (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net proceeds related to the sale of certain tax credits $ 558 $ 28 $ 0
Duke Energy Carolinas      
Net proceeds related to the sale of certain tax credits $ 440 $ 0 $ 0
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Progress Energy (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net proceeds related to the sale of certain tax credits $ 558 $ 28 $ 0
Progress Energy      
Net proceeds related to the sale of certain tax credits $ 118 $ 28 $ 0
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Progress (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net proceeds related to the sale of certain tax credits $ 558 $ 28 $ 0
Duke Energy Progress      
Net proceeds related to the sale of certain tax credits $ 71 $ 0 $ 0
v3.25.0.1
Condensed Consolidated Statements of Cash Flows - Duke Energy Florida (Parenthetical) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Net proceeds related to the sale of certain tax credits $ 558 $ 28 $ 0
Duke Energy Florida      
Net proceeds related to the sale of certain tax credits $ 47 $ 28 $ 0
v3.25.0.1
Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Summary of Significant Accounting Policies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Nature of Operations and Basis of Consolidation
Duke Energy is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also subsidiary registrants, including Duke Energy Carolinas; Progress Energy; Duke Energy Progress; Duke Energy Florida; Duke Energy Ohio; Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants.
The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Consolidated Financial Statements. However, none of the Subsidiary Registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants of Duke Energy other than itself.
These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 18 for additional information on VIEs. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. See Note 9 for additional information on joint ownership. Substantially all of the Subsidiary Registrants' operations qualify for regulatory accounting.
Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Progress Energy is a public utility holding company, which conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Progress Energy is subject to regulation by FERC and other regulatory agencies listed below.
Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the FPSC, NRC and FERC.
Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in portions of Ohio and Kentucky, the generation and sale of electricity in portions of Kentucky and the transportation and sale of natural gas in portions of Ohio and Kentucky. Duke Energy Ohio conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered from retail customers and recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio collectively include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the PUCO, KPSC and FERC.
Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the IURC and FERC.
Piedmont is a regulated public utility primarily engaged in the distribution of natural gas in portions of North Carolina, South Carolina and Tennessee. Piedmont is subject to the regulatory provisions of the NCUC, PSCSC, TPUC and FERC.
Certain prior year amounts have been reclassified to conform to the current year presentation.
Other Current Assets and Liabilities
The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2024, or 2023.
December 31,
(in millions)Location20242023
Duke Energy Carolinas
Accrued compensation Current Liabilities$234 $224 
Duke Energy Florida  
Tax receivables
Current Assets
$166 $12 
Customer deposits/Collateral liabilities
Current Liabilities$164 $168 
Duke Energy Ohio  
Tax receivables
Current Assets
$4 95 
Duke Energy Indiana  
Customer advances
Current Liabilities
$100 $87 
Discontinued Operations
Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented. For the years ended December 31, 2024, 2023 and 2022, the Income (Loss) From Discontinued Operations, net of tax on Duke Energy's Consolidated Statements of Operations includes amounts related to NCI. A portion of NCI on Duke Energy's Consolidated Balance Sheets relates to discontinued operations for the periods presented. See Note 2 for discussion of discontinued operations related to the Commercial Renewables Disposal Groups.
Significant Accounting Policies
Use of Estimates
In preparing financial statements that conform to GAAP, the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Regulatory Accounting
The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and natural gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient natural gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, regulatory assets and regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. Regulatory assets are reviewed for recoverability each reporting period. If a regulatory asset is no longer deemed probable of recovery, the deferred cost is charged to earnings. See Note 4 for further information.
Regulatory accounting rules also require recognition of a disallowance (also called "impairment") loss if it becomes probable that part of the cost of a plant under construction (or a recently completed plant or an abandoned plant) will be disallowed for ratemaking purposes and a reasonable estimate of the amount of the disallowance can be made. For example, if a cost cap is set for a plant still under construction, the amount of the disallowance is a result of a judgment as to the ultimate cost of the plant. These disallowances can require judgments on allowed future rate recovery.
When it becomes probable that regulated generation, transmission or distribution assets will be abandoned, the cost of the asset is removed from plant in service. The value that may be retained as a regulatory asset on the balance sheet for the abandoned property is dependent upon amounts that may be recovered through regulated rates, including any return. As such, an impairment charge could be partially or fully offset by the establishment of a regulatory asset if rate recovery is probable. The impairment charge for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows.
The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses or PGA clauses. These clauses allow for the recovery of fuel and fuel-related costs, portions of purchased power, natural gas costs and hedging costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded either as an adjustment to Operating Revenues, Operating Expenses – Fuel used in electric generation or Operating Expenses – Cost of natural gas on the Consolidated Statements of Operations, with an off-setting impact on regulatory assets or liabilities.
Cash, Cash Equivalents and Restricted Cash
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. Duke Energy Carolinas and Duke Energy Progress have restricted cash balances related to VIEs from storm recovery bonds issued. See Note 18 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
December 31, 2024December 31, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyDukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFloridaEnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$314 $6 $73 $24 $33 $253 $9 $59 $18 $24 
Other84 9 76 40 35 76 9 67 31 36 
Other Noncurrent Assets
Other20 1 11 5 7 16 1 9 2 7 
Total cash, cash equivalents and restricted cash$418 $16 $160 $69 $75 $345 $19 $135 $51 $67 
Inventory
Inventory related to regulated operations is valued at historical cost. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written down to the lower of cost or net realizable value. Once inventory has been written down, it creates a new cost basis for the inventory that is not subsequently written up. Provisions for inventory write-offs were not material at December 31, 2024, and 2023, respectively. The components of inventory are presented in the tables below.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $3,387 $1,150 $1,649 $1,074 $576 $149 $389 $11 
Coal 801 341 241 164 77 23 196 — 
Natural gas, oil and other 321 45 196 103 92 11 1 67 
Total inventory $4,509 $1,536 $2,086 $1,341 $745 $183 $586 $78 
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $3,086 $1,075 $1,465 $963 $502 $139 $361 $12 
Coal842 364 231 154 77 28 219 — 
Natural gas, oil and other364 45 205 110 95 12 2 100 
Total inventory $4,292 $1,484 $1,901 $1,227 $674 $179 $582 $112 
Investments in Debt and Equity Securities
The Duke Energy Registrants classify investments in equity securities as FV-NI and investments in debt securities as AFS. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on securities classified as FV-NI are reported through net income. Unrealized gains and losses for debt securities classified as AFS are included in AOCI until realized, unless it is determined the carrying value of an investment has a credit loss. For certain investments of regulated operations, such as substantially all of the NDTF, realized and unrealized gains and losses (including any credit losses) on debt securities are recorded as a regulatory asset or liability. The credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. See Note 16 for further information.
Goodwill
Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be a business segment or one level below. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. See Note 12 for further information.
Intangible Assets
Intangible assets are included in Other in Other Noncurrent Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization on the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced.
RECs are used to measure compliance with renewable energy standards and are held primarily for consumption. See Note 12 for further information.
Long-Lived Asset Impairments
The Duke Energy Registrants evaluate long-lived assets that are held and used, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written down to its then current estimated fair value and an impairment charge is recognized.
The Duke Energy Registrants assess fair value of long-lived assets that are held and used using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisors. Triggering events to reassess cash flows may include, but are not limited to, significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset.
Property, Plant and Equipment
Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction and Interest Capitalized” section below for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202420232022
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 3.1 %2.7 %2.7 %
Progress Energy 3.3 %3.3 %3.2 %
Duke Energy Progress 3.2 %3.1 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.5 %
Duke Energy Ohio 2.9 %2.8 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.2 %2.1 %2.1 %
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory assets on the Consolidated Balance Sheets if deemed recoverable (see discussion of long-lived asset impairments above). The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate.
When the Duke Energy Registrants sell entire regulated operating units, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body. See Note 11 for additional information.
Other Noncurrent Assets
Duke Energy, through a nonregulated subsidiary, was the winner of the Carolina Long Bay offshore wind auction in May 2022 and recorded an asset of $150 million related to the contract in Other within Other noncurrent assets on the Consolidated Balance Sheets as of December 31, 2024 and 2023. The asset is recorded at historical cost and is subject to impairment testing should circumstances indicate the carrying value may not be recoverable. In November 2022, Duke Energy committed to a plan to sell the Commercial Renewables business segment, excluding the offshore wind contract for Carolina Long Bay, which was moved to the EU&I segment. See Notes 2 and 3 for further information.
Leases
Duke Energy determines if an arrangement is a lease at contract inception based on whether the arrangement involves the use of a physically distinct identified asset and whether Duke Energy has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period as well as the right to direct the use of the asset. As a policy election, Duke Energy does not evaluate arrangements with initial contract terms of less than one year as leases.
Operating leases are included in Operating lease ROU assets, net, Other current liabilities and Operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Property, Plant and Equipment, Current maturities of long-term debt and Long-Term Debt on the Consolidated Balance Sheets.
For lessee and lessor arrangements, Duke Energy has elected a policy to not separate lease and non-lease components for all asset classes. For lessor arrangements, lease and non-lease components are only combined under one arrangement and accounted for under the lease accounting framework if the non-lease components are not the predominant component of the arrangement and the lease component would be classified as an operating lease.
Nuclear Fuel
Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets.
Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method.
Allowance for Funds Used During Construction and Interest Capitalized
For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets.
AFUDC equity, a permanent difference for income taxes, reduces the ETR when capitalized and increases the ETR when depreciated or amortized. See Note 24 for additional information.
Asset Retirement Obligations
AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. When recording an ARO, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset unless determined not to be probable of recovery.
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the ARO for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are netted and deferred as a regulatory asset or liability.
Accounts Payable
Duke Energy has a voluntary supply chain finance program (the “program”) that allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to a global financial institution at a rate that leverages Duke Energy’s credit rating and, which may result in favorable terms compared to the rate available to the supplier on their own credit rating. Suppliers participating in the program, determine at their sole discretion which invoices they will sell to the financial institution. Suppliers’ decisions on which invoices are sold do not impact Duke Energy’s payment terms, which are based on commercial terms negotiated between Duke Energy and the supplier regardless of program participation. The commercial terms negotiated between Duke Energy and its suppliers are consistent regardless of whether the supplier elects to participate in the program. Duke Energy does not issue any guarantees with respect to the program and does not participate in negotiations between suppliers and the financial institution. Duke Energy does not have an economic interest in the supplier’s decision to participate in the program and receives no interest, fees or other benefit from the financial institution based on supplier participation in the program.
The following table presents the amounts included within Accounts payable on the Consolidated Balance Sheets sold to the financial institution by our suppliers and the supplier invoices sold to the financial institution under the program included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows as of December 31, 2024, and December 31, 2023.
 For the Years Ended December 31, 2023 and 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at December 31, 2022
$87 $6 $19 $8 $11 $5 $— $57 
Invoices confirmed during the period
228 24 58 22 36 7 — 139 
Confirmed invoices paid during the period
(265)(30)(74)(30)(44)(12)— (149)
Confirmed obligations outstanding at December 31, 2023
$50 $— $3 $— $3 $— $— $47 
Invoices confirmed during the period
156 — 4 — 4 — — 152 
Confirmed invoices paid during the period
(193)— (6)— (6)— — (187)
Confirmed obligations outstanding at December 31, 2024
$13 $— $1 $— $1 $— $— $12 
Revenue Recognition
Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information.
Alternative Revenue Programs
Duke Energy accounts for certain types of programs established by the regulators in the states in which it operates, including decoupling mechanisms, as alternative revenue programs. Alternative revenue programs are contracts between an entity and its regulator, not a contract between an entity and a customer. Revenue arising from alternative revenue programs is presented as Regulated electric revenues and Regulated natural gas revenues on the Consolidated Statements of Operations. Revenue from alternative revenue programs is recognized in the period they are earned (i.e., during the period of revenue shortfall or excess due to fluctuations in customer usage or when specific targets are met resulting in the achievement of performance incentives or penalties) and a regulatory asset or liability on the Consolidated Balance Sheets is established, which is subsequently billed or refunded to customers. Duke Energy recognizes revenue as alternative revenue programs for programs that have been authorized for rate recovery, are objectively determinable and probable of recovery, and are expected to be collected within 24 months. See Note 19 for disaggregated revenue information including revenue from contracts with customers and revenues recognized as alternative revenue programs.
Derivatives and Hedging
Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the NPNS exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact.
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items.
See Note 15 for further information.
Captive Insurance Reserves
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience.
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable.
Preferred Stock
Preferred stock is reviewed to determine the appropriate balance sheet classification and embedded features, such as call options, are evaluated to determine if they should be bifurcated and accounted for separately. Costs directly related to the issuance of preferred stock are recorded as a reduction of the proceeds received. The liability for the dividend is recognized when declared. The accumulated dividends on the cumulative preferred stock is recognized to net income available to Duke Energy Corporation in the EPS calculation. See Note 20 for further information.
Loss Contingencies and Environmental Liabilities
Contingent losses are recorded when it is probable a loss has occurred and the loss can be reasonably estimated. When a range of the probable loss exists and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. Unless otherwise required by GAAP, legal fees are expensed as incurred.
Environmental liabilities are recorded on an undiscounted basis when environmental remediation or other liabilities become probable and can be reasonably estimated. Environmental expenditures related to past operations that do not generate current or future revenues are expensed. Environmental expenditures related to operations that generate current or future revenues are expensed or capitalized, as appropriate. Certain environmental expenditures receive regulatory accounting treatment and are recorded as regulatory assets.
See Notes 4 and 5 for further information.
Severance and Special Termination Benefits
Duke Energy maintains severance plans for the general employee population under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits provided. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements or over the required future service period. Duke Energy also offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered. See Note 21 for further information.
Guarantees
If necessary, liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Duke Energy recognizes a liability for the best estimate of its loss due to the nonperformance of the guaranteed party. This liability is recognized at the inception of a guarantee and is updated periodically. See Note 8 for further information.
Income Taxes
Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants are parties to a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. ITCs associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties. PTCs associated with regulated operations reduce income tax expense or are deferred and amortized as a reduction of income tax expense over a period of time that is agreed upon by the regulatory authorities and the Subsidiary Registrants.
Accumulated deferred income taxes are valued using the enacted tax rate expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be settled or realized. In the event of a change in tax rates, deferred tax assets and liabilities are remeasured as of the enactment date of the new rate. To the extent that the change in the value of the deferred tax represents an obligation to customers, the impact of the remeasurement is deferred to a regulatory liability. Remaining impacts are recorded in income from continuing operations. Duke Energy's results of operations could be impacted if the estimate of the tax effect of reversing temporary differences is not reflective of actual outcomes, is modified to reflect new developments or interpretations of the tax law, revised to incorporate new accounting principles, or changes in the expected timing or manner of a reversal.
Tax-related interest and penalties are recorded in Interest Expense and Other income and expenses, net in the Consolidated Statements of Operations.
See Note 24 for further information.
Excise Taxes
Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Taxes for which Duke Energy operates merely as a collection agent for the state and local government are accounted for on a net basis. Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
Years Ended December 31,
(in millions) 202420232022
Duke Energy $423 $458 $449 
Duke Energy Carolinas 31 27 47 
Progress Energy 285 322 290 
Duke Energy Progress 9 5 25 
Duke Energy Florida 276 317 265 
Duke Energy Ohio 105 106 104 
Duke Energy Indiana — 1 7 
Piedmont2 2 1 
Dividend Restrictions and Unappropriated Retained Earnings
Duke Energy does not have any current legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, if Duke Energy were to defer dividend payments on the preferred stock, the declaration of common stock dividends would be prohibited. See Note 20 for more information. Additionally, as further described in Note 4, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Indiana and Piedmont have restrictions on paying dividends or otherwise advancing funds to Duke Energy due to conditions established by regulators in conjunction with merger transaction approvals. At December 31, 2024, and 2023, an insignificant amount of Duke Energy’s consolidated Retained earnings balance represents undistributed earnings of equity method investments.
New Accounting Standards
Other than implementation of the enhanced disclosure requirements for reportable business segments as described in Note 3, no new accounting standards were adopted by any of the Duke Energy Registrants in 2024.
v3.25.0.1
Dispositions
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions DISPOSITIONS
The following table summarizes the Income (Loss) from Discontinued Operations, net of tax recorded on Duke Energy's Consolidated Statements of Operations:
Years Ended December 31,
(in millions)202420232022
Commercial Renewables Disposal Groups$12 $(1,457)$(1,349)
Other(a)
(2)2 26 
Income (Loss) from Discontinued Operations, net of tax
$10 $(1,455)$(1,323)
(a)     Amounts primarily represent income tax adjustments for previously sold businesses not related to the Commercial Renewables Disposal Groups.
Sale of Commercial Renewables Segment
In 2023, Duke Energy completed the sale of substantially all the assets in the Commercial Renewables business segment. Duke Energy closed on the transaction with Brookfield on October 25, 2023, for proceeds of $1.1 billion, with approximately half of the proceeds received at closing and the remainder due 18 months after closing. The balance of the remaining proceeds to be received of $551 million is included in Receivable from sales of Commercial Renewables Disposal Groups, as of December 31, 2024, and $531 million is included in Other, within Other Noncurrent Assets, as of December 31, 2023, on Duke Energy's Consolidated Balance Sheets. The sale of the remaining assets was concluded in January 2025, and net proceeds from these dispositions were not material.
Assets Held For Sale and Discontinued Operations
The Commercial Renewables Disposal Groups were classified as held for sale and as discontinued operations in the fourth quarter of 2022. No interest from corporate level debt was allocated to discontinued operations and no adjustments were made to the historical activity within the Consolidated Statements of Comprehensive Income, Consolidated Statements of Cash Flows or the Consolidated Statements of Changes in Equity. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented.
The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Duke Energy's Consolidated Balance Sheets.
December 31,
(in millions)20242023
Current Assets Held for Sale
Other$4 $14 
Total current assets held for sale4 14 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost109 247 
Accumulated depreciation and amortization(24)(57)
Net property, plant and equipment85 190 
Operating lease right-of-use assets, net4 4 
Other— 3 
Total other noncurrent assets held for sale4 7 
Total Assets Held for Sale$93 $211 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$19 $9 
Taxes accrued1 3 
Current maturities of long-term debt
43 5 
Unrealized losses on commodity hedges
13 68 
Other4 37 
Total current liabilities associated with assets held for sale80 122 
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt— 39 
Operating lease liabilities5 5 
Asset retirement obligations5 8 
Unrealized losses on commodity hedges
66 94 
Other13 11 
Total other noncurrent liabilities associated with assets held for sale89 157 
Total Liabilities Associated with Assets Held for Sale$169 $279 
As of December 31, 2024, and 2023, the NCI balance was $18 million and $66 million, respectively.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Income (Loss) from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.
Years Ended December 31,
(in millions)202420232022
Operating revenues$4 $330 $465 
Operation, maintenance and other22302337
Depreciation and amortization(a)
— — 201
Property and other taxes24536
Other income and expenses, net— (8)2 
Interest expense46510
Loss on disposal14 1,725 1,748 
Loss before income taxes(38)(1,815)(1,865)
Income tax benefit(50)(358)(516)
Income (Loss) from discontinued operations
$12 $(1,457)$(1,349)
Add: Net (income) loss attributable to noncontrolling interest included in discontinued operations
(3)64 108 
Net income (loss) from discontinued operations attributable to Duke Energy Corporation
$9 $(1,393)$(1,241)
(a)    Upon meeting the criteria for assets held for sale, beginning in November 2022 depreciation and amortization expense were ceased.
The Commercial Renewables Disposal Groups' assets held for sale amounts presented above reflect pretax impairments recorded against property, plant and equipment of approximately $123 million and $278 million as of December 31, 2024, and 2023, respectively. The carrying amounts for the remaining assets will be updated, if necessary, based on final disposition amounts.
Duke Energy has elected not to separately disclose discontinued operations on Duke Energy's Consolidated Statements of Cash Flows. The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.
Years Ended December 31,
(in millions)202420232022
Cash flows provided by (used in):
Operating activities$7 $607 $213 
Investing activities(13)122 (802)
Other Sale Related Matters
Duke Energy (Parent) and several Duke Energy renewables project companies, located in the Electric Reliability Council of Texas (ERCOT) market, were named in several lawsuits arising out of Texas Storm Uri, which occurred in February 2021. The legal actions related to all but one of the project companies in this matter transferred to affiliates of Brookfield in conjunction with the transaction closing in October 2023. In May 2024, the remaining claim in the lawsuit was transferred to the buyer in connection with the sale of a portion of the remaining Commercial Renewables assets. See Note 5 for more information.
As part of the purchase and sale agreement for the distributed generation group, Duke Energy has agreed to retain certain guarantees, with expiration dates between 2029 through 2034, related to tax equity partners' assets and operations that will be disposed of via sale. Duke Energy has obtained certain guarantees from the buyers in regard to future performance obligations to assist in limiting Duke Energy's exposure under the retained guarantees. The fair value of the guarantees is immaterial as Duke Energy does not believe conditions are likely for performance under these guarantees.
Sale of Minority Interest in Duke Energy Indiana Holdco, LLC
On January 28, 2021, Duke Energy executed an agreement providing for an investment by an affiliate of GIC in Duke Energy Indiana in exchange for a 19.9% minority interest issued by Duke Energy Indiana Holdco, LLC, the holding company for Duke Energy Indiana. The transaction was completed following two closings for an aggregate purchase price of approximately $2.05 billion. The first closing, which occurred on September 8, 2021, resulted in Duke Energy Indiana Holdco, LLC issuing 11.05% of its membership interests in exchange for approximately $1.03 billion or 50% of the purchase price. The difference between the cash consideration received, net of transaction costs of approximately $27 million, and the carrying value of the NCI was $545 million and was recorded as an increase to equity. The second closing was completed in December 2022 and resulted in Duke Energy Indiana Holdco, LLC issuing an additional 8.85% of its membership interests in exchange for approximately $1.03 billion. The difference between the cash consideration received, net of transaction costs of approximately $6 million, and the carrying value of the NCI was $492 million and was recorded as an increase to equity. Duke Energy retained indirect control of these assets, and, therefore, no gain or loss was recognized on the Consolidated Statements of Operations for either transaction.
v3.25.0.1
Business Segments
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
Reportable segments are determined based on information used by the chief operating decision-maker in deciding how to allocate resources and evaluate the performance of the business. The Duke Energy Registrants' chief operating decision-maker (CODM) is the Chief Executive Officer. The CODM evaluates segment performance based on segment income for each of the Duke Energy Registrants' reportable business segments in deciding how to allocate resources and evaluate the performance of the business. Segment income is defined as income from continuing operations net of income attributable to NCI and preferred stock dividends. Segment income, as discussed below, includes intercompany revenues and expenses that are eliminated on the Consolidated Financial Statements. Certain governance costs are allocated to each segment. In addition, direct interest expense and income taxes are included in segment income.
In November 2023, the FASB issued a pronouncement to enhance annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses that are regularly provided to or easily computed from information regularly provided to the CODM and included within each reported measure of segment profit or loss. These updated requirements are reflected in this note disclosure.
Products and services are sold between affiliate companies and reportable segments of Duke Energy at cost. Substantially all assets and revenues from continuing operations for each of the Duke Energy Registrants are within the U.S. Segment assets as presented in the tables that follow exclude all intercompany assets.
Duke Energy
Due to Duke Energy's commitment in the fourth quarter of 2022 to sell the Commercial Renewables business segment, Duke Energy's segment structure now includes the following two segments: EU&I and GU&I. Prior period information has been recast to conform to the current segment structure. See Note 2 for further information on the Commercial Renewables Disposal Groups.
The EU&I segment includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. The regulated electric utilities conduct operations through the Subsidiary Registrants that are substantially all regulated and, accordingly, qualify for regulatory accounting treatment. EU&I also includes Duke Energy's electric transmission infrastructure investments and the offshore wind contract for Carolina Long Bay. Refer to Note 2 for further information.
The GU&I segment includes Piedmont, Duke Energy's natural gas local distribution companies in Ohio and Kentucky, and Duke Energy's natural gas storage, midstream pipeline, and renewable natural gas investments. GU&I's operations are substantially all regulated and, accordingly, qualify for regulatory accounting treatment.
The remainder of Duke Energy’s operations is presented as Other, which is primarily comprised of interest expense on holding company debt, unallocated corporate costs and Duke Energy’s wholly owned captive insurance company, Bison. Other also includes Duke Energy's interest in NMC. See Note 13 for additional information on the investment in NMC.
Business segment information is presented in the following tables.
Year Ended December 31, 2024
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues
$28,020 $2,299 $30,319 $38 $— $30,357 
Intersegment revenues
73 91 164 119 (283)— 
Total revenues
$28,093 $2,390 $30,483 $157 $(283)$30,357 
Less:
Fuel used in electric generation and purchased power
$9,285 $— $9,285 $— $(79)$9,206 
Cost of natural gas
— 565 565 — — 565 
Operation, maintenance and other5,185 478 5,663 (79)(195)5,389 
Depreciation and amortization5,128 400 5,528 293 (28)5,793 
Property and other taxes1,305 149 1,454 12 — 1,466 
Impairment of assets and other charges37 — 37 1 — 38 
Interest expense2,006 256 2,262 1,245 (123)3,384 
Income tax expense (benefit)820 99 919 (329)— 590 
Other Segment Items
Noncontrolling interests(a)
88 (1)87 — — 87 
Preferred dividends— — — 106 — 106 
Preferred redemption costs— — — 16 — 16 
Add: Equity in (losses) earnings of unconsolidated affiliates
(11)(48)(59)50 — (9)
Add: Other(b)
542 58 600 229 (142)687 
Segment income (loss)(c)(d)(e)
$4,770 $454 $5,224 $(829)$— $4,395 
Discontinued Operations
7 
Net income available to Duke Energy Corporation Common Stockholders
$4,402 
Add back: Net income (loss) attributable to noncontrolling interest
90 
Add back: Preferred dividends
106 
Add back: Preferred redemption costs
16 
Net income
$4,614 
Capital investments expenditures and acquisitions
$10,689 $1,313 $12,002 $261 $— $12,263 
Segment assets
164,010 18,131 182,141 4,202 — 186,343 
(a)    Net income (loss) attributable to NCI related to continuing operations.
(b)    Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
(c)    EU&I includes the following in the referenced captions on the Consolidated Statements of Operations:
•$42 million recorded within Impairment of assets and other charges, $2 million within Operations, maintenance and other, and an $11 million reduction within Interest Expense related to South Carolinas rate case orders for Duke Energy Carolinas and Duke Energy Progress. See Note 4 for further information.
•$29 million recorded as a reduction of Operating revenues and $4 million as a reduction within Noncontrolling interests related to a Duke Energy Indiana regulatory liability associated with certain employee post-retirement benefits. See Note 4 for further information.
•$17 million recorded as a reduction of Operating revenues related to nonrecurring customer billing adjustments as a result of implementation of a new customer system.
•$15 million recorded within Equity in (losses) earnings of unconsolidated affiliates, primarily related to impairments for certain joint venture electric transmission projects, and $4 million within Gains on sales of other assets and other, net.
(d)    GU&I includes $1 million recorded with Operation, maintenance and other and $3 million as a charge within Other income and expenses on the Consolidated Statements of Operations related to nonrecurring customer billing adjustments as a result of implementation of a new customer system. Additionally, GU&I includes $54 million recorded within Equity in (losses) earnings of unconsolidated affiliates on the Consolidated Statements of Operations related to impairments for certain renewable natural gas investments. See Note 13 for further information.
(e)    Other includes $16 million recorded as Preferred Redemption Costs on the Consolidated Statements of Operations related to the redemption of Series B Preferred Stock. See Note 20 for further information. Additionally, Other includes $23 million recorded within Operation, maintenance and other on the Consolidated Statements of Operations related to an insurance deductible for Hurricane Helene property losses.
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues
$26,846 $2,177 $29,023 $37 $— $29,060 
Intersegment revenues
75 89 164 97 (261)— 
Total revenues
$26,921 $2,266 $29,187 $134 $(261)$29,060 
Less:
Fuel used in electric generation and purchased power
$9,164 $— $9,164 $— $(78)$9,086 
Cost of natural gas
— 593 593 — — 593 
Operation, maintenance and other
5,309 455 5,764 36 (175)5,625 
Depreciation and amortization4,684 349 5,033 248 (28)5,253 
Property and other taxes
1,320 129 1,449 (49)— 1,400 
Impairment of assets and other charges
75 (4)71 14 — 85 
Interest expense1,850 217 2,067 1,097 (150)3,014 
Income tax expense (benefit)742 116 858 (420)— 438 
Other Segment Items
Noncontrolling interests(a)
99 (2)97 — — 97 
Preferred dividends— — — 106 — 106 
Add: Equity in earnings of unconsolidated affiliates7 40 47 66 — 113 
Add: Other(b)
538 66 604 216 (170)650 
Segment income (loss)(c)(d)
$4,223 $519 $4,742 $(616)$— $4,126 
Discontinued operations(1,391)
Net income available to Duke Energy Corporation Common Stockholders
$2,735 
Add back: Net income (loss) attributable to noncontrolling interest
33 
Add back: Preferred dividends
106 
Net income
$2,874 
Capital investments expenditures and acquisitions(e)
$10,135 $1,492 $11,627 $995 $— $12,622 
Segment assets(f)
155,449 17,349 172,798 4,095 — 176,893 
(a)    Net income (loss) attributable to NCI related to continuing operations.
(b)    Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
(c)    EU&I includes $35 million recorded with Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Carolinas' Consolidated Statements of Operations; it also includes $33 million recorded within Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Progress' Consolidated Statements of Operations. See Note 4 for additional information.
(d)    Other includes $110 million recorded within Operations, maintenance and other and $14 million within Impairments of assets and other charges primarily related to strategic repositioning as the Company transitions to a fully regulated utility on the Consolidated Statements of Operations. See Note 21 for additional information.
(e)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(f)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. See Note 2 for further information.
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues
$25,990 $2,748 $28,738 $30 $— $28,768 
Intersegment revenues
34 92 126 92 (218)— 
Total revenues
$26,024 $2,840 $28,864 $122 $(218)$28,768 
Less:
Fuel used in electric generation and purchased power
$8,862 $— $8,862 $— $(80)$8,782 
Cost of natural gas
— 1,276 1,276 — — 1,276 
Operation, maintenance and other
5,354 532 5,886 (23)(129)5,734 
Depreciation and amortization4,550 327 4,877 236 (27)5,086 
Property and other taxes
1,315 138 1,453 13 — 1,466 
Impairment of assets and other charges
374 (12)362 72 — 434 
Interest expense1,565 182 1,747 778 (86)2,439 
Income tax expense (benefit)536 8 544 (244)— 300 
Other Segment Items
Noncontrolling interests(a)
13 — 13 — — 13 
Preferred dividends— — — 106 — 106 
Add: Equity in earnings of unconsolidated affiliates7 20 27 86 — 113 
Add: Other(b)
467 59 526 (7)(105)414 
Segment income (loss)(c)(d)
$3,929 $468 $4,397 $(737)$(1)$3,659 
Discontinued operations
(1,215)
Net income available to Duke Energy Corporation Common Stockholders
$2,444 
Add back: Net income (loss) attributable to noncontrolling interest
(95)
Add back: Preferred dividends
106 
Net income
$2,455 
Capital investments expenditures and acquisitions(e)
$8,985 $1,295 $10,280 $1,139 $— $11,419 
Segment assets(f)
152,104 16,411 168,515 9,571 — 178,086 
(a)    Net income (loss) attributable to NCI related to continuing operations.
(b)    Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
(c)    EU&I includes $386 million recorded within Impairment of assets and other charges, $46 million as a reduction within Regulated electric revenues and $34 million within Noncontrolling Interests related to the Duke Energy Indiana court rulings on coal ash on the Consolidated Statements of Operations. See Note 4 for additional information.
(d)    Other includes $72 million recorded within Impairment of assets and other charges, $71 million within Operations, maintenance and other and a $7 million gain within Gains on sales of other assets related to costs attributable to business transformation, including long-term real estate strategy changes and workforce realignment on the Consolidated Statements of Operations; it also includes $25 million recorded within Operations, maintenance and other related to litigation on the Consolidated Statements of Operations.
(e)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(f)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. See Note 2 for further information.
Major Customers
No Subsidiary Registrant has an individual customer representing more than 10% of its revenues for the year ended December 31, 2024.
Products and Services
The following table summarizes revenues of the reportable segments by type.
RetailWholesaleRetailTotal
(in millions)ElectricElectricNatural GasOther Revenues
2024
Electric Utilities and Infrastructure$24,593 $2,219 $— $1,281 $28,093 
Gas Utilities and Infrastructure— — 2,320 70 2,390 
Total Reportable Segments$24,593 $2,219 $2,320 $1,351 $30,483 
2023
Electric Utilities and Infrastructure$23,484 $2,193 $— $1,244 $26,921 
Gas Utilities and Infrastructure— — 2,199 67 2,266 
Total Reportable Segments$23,484 $2,193 $2,199 $1,311 $29,187 
2022
Electric Utilities and Infrastructure$22,036 $2,882 $— $1,106 $26,024 
Gas Utilities and Infrastructure— — 2,535 305 2,840 
Total Reportable Segments$22,036 $2,882 $2,535 $1,411 $28,864 
Duke Energy Carolinas
Duke Energy Carolinas has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in North Carolina and South Carolina. EU&I conducts operations primarily through Duke Energy Carolinas. The remainder of Duke Energy Carolinas' operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$9,718 $— $9,718 
Less:
Fuel used in electric generation and purchased power
$3,251 $— $3,251 
Operation, maintenance and other
1,710 30 1,740 
Depreciation and amortization1,768 — 1,768 
Property and other taxes
346 — 346 
Impairment of assets and other charges
31 — 31 
Interest expense722 — 722 
Income tax expense (benefit)233 (7)226 
Add: Other segment items(a)
252 (3)249 
Segment income (loss) / Net income
$1,909 $(26)$1,883 
Capital expenditures
$3,966 $— $3,966 
Segment assets
54,782 223 55,005 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$8,288 $— $8,288 
Less:
Fuel used in electric generation and purchased power
$2,524 $— $2,524 
Operation, maintenance and other
1,689 85 1,774 
Depreciation and amortization1,593 — 1,593 
Property and other taxes
320 — 320 
Impairment of assets and other charges
44 — 44 
Interest expense686 — 686 
Income tax expense (benefit)162 (21)141 
Add: Other segment items(a)
267 (3)264 
Segment income (loss) / Net income
$1,537 $(67)$1,470 
Capital expenditures
$3,733 $— $3,733 
Segment assets
51,908 202 52,110 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$7,857 $— $7,857 
Less:
Fuel used in electric generation and purchased power
$2,015 $— $2,015 
Operation, maintenance and other
1,845 47 1,892 
Depreciation and amortization1,526 — 1,526 
Property and other taxes
340 — 340 
Impairment of assets and other charges
(18)44 26 
Interest expense557 — 557 
Income tax expense (benefit)148 (22)126 
Add: Other segment items(a)
228 (3)225 
Segment income (loss) / Net income
$1,672 $(72)$1,600 
Capital expenditures
$3,304 $— $3,304 
Segment assets
49,956 390 50,346 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Progress Energy
Progress Energy has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in North Carolina, South Carolina and Florida. EU&I conducts operations primarily through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. The remainder of Progress Energy's operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$13,612 $21 $13,633 
Less:
Fuel used in electric generation and purchased power
$4,755 $— $4,755 
Operation, maintenance and other
2,413 50 2,463 
Depreciation and amortization2,393 — 2,393 
Property and other taxes
617 — 617 
Impairment of assets and other charges
6 — 6 
Interest expense949 115 1,064 
Income tax expense (benefit)465 (39)426 
Add: Other segment items(a)
224 38 262 
Segment income (loss) / Net income
$2,238 $(67)$2,171 
Capital expenditures
$5,252 $— $5,252 
Segment assets
67,951 3,685 71,636 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$13,524 $20 $13,544 
Less:
Fuel used in electric generation and purchased power
$5,026 $— $5,026 
Operation, maintenance and other
2,554 82 2,636 
Depreciation and amortization2,151 — 2,151 
Property and other taxes
644 — 644 
Impairment of assets and other charges
28 — 28 
Interest expense840 114 954 
Income tax expense (benefit)426 (49)377 
Add: Other segment items(a)
210 18 228 
Segment income (loss) / Net income
$2,065 $(109)$1,956 
Capital expenditures
$4,917 $— $4,917 
Segment assets
63,182 3,912 67,094 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$13,106 $19 $13,125 
Less:
Fuel used in electric generation and purchased power
$5,078 $— $5,078 
Operation, maintenance and other
2,395 63 2,458 
Depreciation and amortization2,142 — 2,142 
Property and other taxes
611 (4)607 
Impairment of assets and other charges
5 7 12 
Interest expense716 128 844 
Income tax expense (benefit)396 (48)348 
Add: Other segment items(a)
205 (13)192 
Segment income (loss) / Net income
$1,968 $(140)$1,828 
Capital expenditures
$4,317 $— $4,317 
Segment assets
62,183 3,896 66,079 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Progress
Duke Energy Progress has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in North Carolina and South Carolina. EU&I conducts operations primarily through Duke Energy Progress. The remainder of Duke Energy Progress' operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$7,017 $— $7,017 
Less:
Fuel used in electric generation and purchased power
$2,409 $— $2,409 
Operation, maintenance and other
1,370 18 1,388 
Depreciation and amortization1,336 — 1,336 
Property and other taxes
177 — 177 
Impairment of assets and other charges
6 — 6 
Interest expense492 1 493 
Income tax expense (benefit)194 (5)189 
Add: Other segment items(a)
138 7 145 
Segment income (loss) / Net income
$1,171 $(7)$1,164 
Capital expenditures
$2,803 $— $2,803 
Segment assets
39,402 91 39,493 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,488 $— $6,488 
Less:
Fuel used in electric generation and purchased power
$2,203 $— $2,203 
Operation, maintenance and other
1,342 37 1,379 
Depreciation and amortization1,266 — 1,266 
Property and other taxes
164 — 164 
Impairment of assets and other charges
29 — 29 
Interest expense427 — 427 
Income tax expense (benefit)158 (9)149 
Add: Other segment items(a)
128 (1)127 
Segment income (loss) / Net income
$1,027 $(29)$998 
Capital expenditures
$2,387 $— $2,387 
Segment assets
36,820 104 36,924 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,753 $— $6,753 
Less:
Fuel used in electric generation and purchased power
$2,492 $— $2,492 
Operation, maintenance and other
1,447 28 1,475 
Depreciation and amortization1,187 — 1,187 
Property and other taxes
190 — 190 
Impairment of assets and other charges
5 2 7 
Interest expense354 — 354 
Income tax expense (benefit)165 (7)158 
Add: Other segment items(a)
119 (1)118 
Segment income (loss) / Net income
$1,032 $(24)$1,008 
Capital expenditures
$2,070 $— $2,070 
Segment assets
36,631 121 36,752 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Florida
Duke Energy Florida has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in Florida. EU&I conducts operations primarily through Duke Energy Florida. The remainder of Duke Energy Florida's operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,595 $— $6,595 
Less:
Fuel used in electric generation and purchased power
$2,346 $— $2,346 
Operation, maintenance and other
1,043 12 1,055 
Depreciation and amortization1,057 — 1,057 
Property and other taxes
440 — 440 
Interest expense457 — 457 
Income tax expense (benefit)271 (3)268 
Add: Other segment items(a)
86 3 89 
Segment income (loss) / Net income
$1,067 $(6)$1,061 
Capital expenditures
$2,449 $— $2,449 
Segment assets
28,549 20 28,569 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$7,036 $— $7,036 
Less:
Fuel used in electric generation and purchased power
$2,823 $— $2,823 
Operation, maintenance and other
1,212 27 1,239 
Depreciation and amortization885 — 885 
Property and other taxes
480 — 480 
Impairment of assets and other charges
(1)— (1)
Interest expense413 — 413 
Income tax expense (benefit)268 (7)261 
Add: Other segment items(a)
82 (2)80 
Segment income (loss) / Net income
$1,038 $(22)$1,016 
Capital expenditures
$2,529 $— $2,529 
Segment assets
26,362 239 26,601 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,353 $— $6,353 
Less:
Fuel used in electric generation and purchased power
$2,586 $— $2,586 
Operation, maintenance and other
948 19 967 
Depreciation and amortization955 — 955 
Property and other taxes
421 — 421 
Impairment of assets and other charges
— 4 4 
Interest expense362 — 362 
Income tax expense (benefit)231 (6)225 
Add: Other segment items(a)
86 (10)76 
Segment income (loss) / Net income
$936 $(27)$909 
Capital expenditures
$2,247 $— $2,247 
Segment assets
25,552 2 25,554 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Ohio
Duke Energy Ohio has two reportable segments, EU&I and GU&I.
EU&I transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Northern Kentucky. GU&I transports and sells natural gas in portions of Ohio and Northern Kentucky. Both reportable segments conduct operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. The remainder of Duke Energy Ohio's operations is presented as Other.
Year Ended December 31, 2024
ElectricGasTotal
Utilities andUtilities andReportable
Eliminations/
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$1,905 $640 $2,545 — $2,545 
Less:
Fuel used in electric generation and purchased power
$538 $— $538 $— $538 
Cost of natural gas
— 142 142 — 142 
Operation, maintenance and other
366 109 475 10 485 
Depreciation and amortization273 131 404 (1)403 
Property and other taxes
306 94 400 — 400 
Interest expense126 68 194 (2)192 
Income tax expense (benefit)47 18 65 (1)64 
Add: Other segment items(a)
15 5 20 — 20 
Segment income (loss) / Net income
$264 $83 $347 $(6)$341 
Capital expenditures$535 $280 $815 $— $815 
Segment assets8,211 4,506 12,717 51 12,768 
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
Eliminations/
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$1,868 $639 $2,507 $— $2,507 
Less:
Fuel used in electric generation and purchased power
$608 $— 608 $— 608 
Cost of natural gas
— 163 163 — 163 
Operation, maintenance and other
351 118 469 9 478 
Depreciation and amortization257 110 367 — 367 
Property and other taxes
294 70 364 — 364 
Impairment of assets and other charges
2 — 2 1 3 
Interest expense116 53 169 — 169 
Income tax expense (benefit)42 23 65 (2)63 
Add: Other segment items(a)
29 14 43 (1)42 
Segment income (loss) / Net income
$227 $116 $343 $(9)$334 
Capital expenditures$520 $419 $939 $— $939 
Segment assets7,978 4,346 12,324 (108)12,216 
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
Eliminations/
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$1,798 $716 $2,514 $— $2,514 
Less:
Fuel used in electric generation and purchased power
$657 $— $657 $— $657 
Cost of natural gas
— 261 261 — 261 
Operation, maintenance and other
345 170 515 8 523 
Depreciation and amortization221 103 324 — 324 
Property and other taxes
288 81 369 — 369 
Impairment of assets and other charges
1 (12)(11)1 (10)
Interest expense86 43 129 — 129 
Income tax expense (benefit)24 (43)(19)(2)(21)
Add: Other segment items(a)
13 8 21 (1)20 
Segment income (loss) / Net income
$189 $121 $310 $(8)$302 
Capital expenditures$488 $362 $850 $— $850 
Segment assets7,504 4,164 11,668 (162)11,506 
(a)    Other segment items for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Indiana
Duke Energy Indiana has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in Indiana. EU&I conducts operations primarily through Duke Energy Indiana. The remainder of Duke Energy Indiana's operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$3,040 $— $3,040 
Less:
Fuel used in electric generation and purchased power
$964 $— $964 
Operation, maintenance and other
666 5 671 
Depreciation and amortization676 — 676 
Property and other taxes
50 — 50 
Interest expense228 1 229 
Income tax expense (benefit)72 (1)71 
Add: Other segment items(a)
62 — 62 
Segment income (loss) / Net income
$446 $(5)$441 
Capital expenditures
$935 $— $935 
Segment assets
15,726 1 15,727 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$3,399 $— $3,399 
Less:
Fuel used in electric generation and purchased power
$1,217 $— $1,217 
Operation, maintenance and other
695 18 713 
Depreciation and amortization666 — 666 
Property and other taxes
59 — 59 
Impairment of assets and other charges
(1)1 — 
Interest expense213 — 213 
Income tax expense (benefit)115 (5)110 
Add: Other segment items(a)
77 (1)76 
Segment income (loss) / Net income
$512 $(15)$497 
Capital expenditures
$961 $— $961 
Segment assets
14,966 (155)14,811 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$3,922 $— $3,922 
Less:
Fuel used in electric generation and purchased power
$1,819 $— $1,819 
Operation, maintenance and other
719 10 729 
Depreciation and amortization645 — 645 
Property and other taxes
75 — 75 
Impairment of assets and other charges
387 1 388 
Interest expense189 — 189 
Income tax expense (benefit)(20)(4)(24)
Add: Other segment items(a)
38 (2)36 
Segment income (loss) / Net income
$146 $(9)$137 
Capital expenditures
$877 $— $877 
Segment assets
14,864 (210)14,654 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Piedmont
Piedmont has one reportable segment, GU&I.
GU&I distributes and sells natural gas in North Carolina, South Carolina and Tennessee. GU&I conducts operations primarily through Piedmont. The remainder of Piedmont's operations is presented as Other.
Year Ended December 31, 2024
Gas
Utilities and
Eliminations/
(in millions)Infrastructure
Other
Total
Total revenues
$1,729 $— $1,729 
Less:
Cost of natural gas
$423 $— $423 
Operation, maintenance and other
355 4 359 
Depreciation and amortization261 — 261 
Property and other taxes
55 — 55 
Interest expense185 — 185 
Income tax expense (benefit)94 1 95 
Other Segment Items
Add: Equity in earnings of unconsolidated affiliates— 8 8 
Add: Other(a)
54 — 54 
Segment income (loss) / Net income
$410 $3 $413 
Capital expenditures
$1,025 $— $1,025 
Segment assets
11,707 92 11,799 
Year Ended December 31, 2023
Gas
Utilities and
Eliminations/
(in millions)Infrastructure
Other
Total
Total revenues
$1,628 $— $1,628 
Less:
Cost of natural gas
$430 $— $430 
Operation, maintenance and other
336 8 344 
Depreciation and amortization237 — 237 
Property and other taxes
59 — 59 
Impairment of assets and other charges
(4)— (4)
Interest expense165 — 165 
Income tax expense (benefit)84 — 84 
Other Segment Items
Add: Equity in earnings of unconsolidated affiliates— 9 9 
Add: Other(a)
59 (2)57 
Segment income (loss) / Net income
$380 $(1)$379 
Capital expenditures
$1,036 $— $1,036 
Segment assets
10,978 89 11,067 
Year Ended December 31, 2022
Gas
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$2,124 $— $2,124 
Less:
Cost of natural gas
$1,015 $— $1,015 
Operation, maintenance and other
360 8 368 
Depreciation and amortization222 — 222 
Property and other taxes
57 — 57 
Impairment of assets and other charges
— 18 18 
Interest expense140 — 140 
Income tax expense (benefit)43 (4)39 
Other Segment Items
Add: Equity in earnings of unconsolidated affiliates— 8 8 
Add: Other(a)
47 3 50 
Segment income (loss) / Net income
$334 $(11)$323 
Capital expenditures
$862 $— $862 
Segment assets
10,243 92 10,335 
(a)    Other includes Gains on sales of other assets and other, net, and Other income and expenses, net.
v3.25.0.1
Regulatory Matters
 12 Months Ended
Dec. 31, 2024
Regulated Operations [Abstract]  
Regulatory Matters REGULATORY MATTERS
REGULATORY ASSETS AND LIABILITIES
The Duke Energy Registrants record regulatory assets and liabilities that result from the ratemaking process. See Note 1 for further information.
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
Duke EnergyProgress Energy
December 31,December 31,
(in millions)2024202320242023
Regulatory Assets
AROs – coal ash$3,384 $3,214 $1,335 $1,230 
Accrued pension and OPEB2,524 2,389 828 757 
Storm cost deferrals1,951 407 1,238 298 
Storm cost securitized balance, net1,023 890 822 682 
AROs – nuclear and other952 1,179 905 1,127 
Nuclear asset securitized balance, net771 830 771 830 
Debt fair value adjustment719 774 — — 
COR regulatory asset646 371 571 337 
Deferred fuel and purchased power588 2,486 282 1,173 
Hedge costs deferrals352 749 126 323 
PISCC and deferred operating expenses331 357 37 42 
Retired generation facilities281 275 202 220 
Customer connect project257 260 116 125 
Grid Deferral255 210 54 51 
Incremental COVID-19 expenses231 237 89 80 
Vacation accrual228 228 43 43 
Deferred asset – Lee and Harris COLA215 252 10 15 
Advanced metering infrastructure (AMI)204 243 70 92 
Demand side management (DSM) / Energy efficiency (EE)199 201 199 191 
CEP deferral195 193 — — 
NCEMPA deferrals179 172 179 172 
Decoupling162 115 32 15 
Nuclear deferral134 131 53 42 
Deferred pipeline integrity costs129 133 — — 
COR settlement110 115 29 30 
Coal plant securitization102 8 39 8 
Derivatives – natural gas supply contracts94 147 — — 
Deferred coal ash handling system costs77 86 17 21 
Qualifying facility contract buyouts62 68 62 68 
Tennessee ARM Deferral33 20 — — 
Network Integration Transmission Services deferral31 31 — — 
Transmission expansion obligation31 30 — — 
East Bend deferrals24 28 — — 
Propane caverns24 26 — — 
Other512 411 156 119 
Total regulatory assets17,010 17,266 8,265 8,091 
Less: Current portion
2,756 3,648 1,647 1,661 
Total noncurrent regulatory assets$14,254 $13,618 $6,618 $6,430 
Regulatory Liabilities
COR regulatory liability$5,436 $5,497 $2,984 $2,805 
Net regulatory liability related to income taxes5,397 5,901 1,884 2,008 
AROs – nuclear and other2,289 1,673 — — 
Deferred Nuclear PTC676 — 95 — 
Hedge cost deferrals583 443 281 208 
Renewable energy credits241 237 139 138 
Accrued pension and OPEB232 266 12 — 
Deferred fuel and purchased power223 137 94 14 
DSM / EE58 89 — — 
DOE Settlement— 32 — 32 
Other984 1,133 291 296 
Total regulatory liabilities 16,119 15,408 5,780 5,501 
Less: Current portion
1,425 1,369 522 418 
Total noncurrent regulatory liabilities $14,694 $14,039 $5,258 $5,083 
Descriptions of regulatory assets and liabilities summarized in the tables above and below follow. See tables below for recovery and amortization periods at the separate registrants.
AROs – coal ash. Represents deferred depreciation and accretion related to the legal obligation to close ash basins. The costs are deferred until recovery treatment has been determined. See Notes 1 and 10 for additional information.
AROs – nuclear and other. Represents regulatory assets or liabilities, including deferred depreciation and accretion, related to legal obligations associated with the future retirement of property, plant and equipment, excluding amounts related to coal ash. The AROs relate primarily to decommissioning nuclear power facilities. The amounts also include certain deferred gains and losses on NDTF investments. See Notes 1 and 10 for additional information.
Deferred fuel and purchased power. Represents certain energy-related costs that are recoverable or refundable as approved by the applicable regulatory body.
Accrued pension and OPEB. Accrued pension and OPEB represent regulatory assets and liabilities related to each of the Duke Energy Registrants’ respective shares of unrecognized actuarial gains and losses and unrecognized prior service cost and credit attributable to Duke Energy’s pension plans and OPEB plans. The regulatory asset or liability is amortized with the recognition of actuarial gains and losses and prior service cost and credit to net periodic benefit costs for pension and OPEB plans. The accrued pension and OPEB regulatory assets are expected to be recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Storm cost securitized balance, net. Represents the North Carolina portion of storm restoration expenditures related to Hurricane Florence, Hurricane Michael, Hurricane Dorian and Winter Storm Diego (2018 and 2019 events). The South Carolina portion of storm restoration expenditures are related to 2014 Ice Storms Pax and Ulysses, Hurricane Matthew, Hurricane Florence, Hurricane Michael, Hurricane Dorian, and Winter Storms Izzy and Jasper.
Nuclear asset securitized balance, net. Represents the balance associated with Crystal River Unit 3 retirement approved for recovery by the FPSC on September 15, 2015, and the upfront financing costs securitized in 2016 with issuance of the associated bonds. The regulatory asset balance is net of the AFUDC equity portion.
Debt fair value adjustment. Purchase accounting adjustments recorded at the Duke Energy (Parent) level to state the carrying value of debt at fair value in connection with the Duke Energy mergers with Progress Energy in 2012 and Piedmont in 2016. Amount is amortized over the life of the related debt.
Hedge costs deferrals. Amounts relate to realized and unrealized gains and losses on derivatives recorded as a regulatory asset or liability, respectively, until the contracts are settled.
Storm cost deferrals. Represents deferred incremental costs incurred related to major weather-related events.
COR regulatory asset. Represents the excess of spend over funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired, net of certain deferred gains on NDTF investments.
PISCC and deferred operating expenses. Represents deferred depreciation and operating expenses as well as carrying costs on the portion of capital expenditures placed in service but not yet reflected in retail rates as plant in service.
Retired generation facilities. Represents amounts to be recovered for facilities that have been retired and are probable of recovery.
Deferred asset – Lee and Harris COLA. Represents deferred costs incurred for the canceled Lee and Harris nuclear projects.
Customer connect project. Represents incremental operating expenses and carrying costs on deferred amounts related to the deployment of the new customer information system.
AMI. Represents deferred costs related to the installation of AMI meters and remaining net book value of non-AMI meters to be replaced at Duke Energy Carolinas, net book value of existing meters at Duke Energy Florida, Duke Energy Progress and Duke Energy Ohio and future recovery of net book value of electromechanical meters that have been replaced with AMI meters at Duke Energy Indiana.
Incremental COVID-19 expenses. Represents incremental costs related to ensuring continuity and quality of service in a safe manner during the COVID-19 pandemic.
Vacation accrual. Represents vacation entitlement, which is generally recovered in the following year.
Grid deferral. Represents deferred incremental operation and maintenance expense, depreciation and property taxes associated with grid improvement plans.
DSM/EE. Deferred costs related to various DSM and EE programs recoverable or refundable as approved by the applicable regulatory body.
CEP deferral. Represents deferred depreciation, PISCC and deferred property tax for Duke Energy Ohio Gas capital assets for the CEP.
NCEMPA deferrals. Represents retail allocated cost deferrals and returns associated with the additional ownership interest in assets acquired from NCEMPA in 2015.
Derivatives – natural gas supply contracts. Represents costs for certain long-dated, fixed quantity forward natural gas supply contracts, which are recoverable through PGA clauses.
Deferred pipeline integrity costs. Represents pipeline integrity management costs in compliance with federal regulations.
Nuclear deferral. Includes amounts related to nuclear plant outage and refueling costs, which are deferred and recovered over the nuclear fuel cycle.
COR settlement. Represents approved COR settlements that are being amortized over the average remaining lives, at the time of approval, of the associated assets.
Decoupling. Relates primarily to margin and revenue decoupling.
Deferred coal ash handling system costs. Represents deferred depreciation and returns associated with capital assets related to converting the ash handling system from wet to dry.
Qualifying facility contract buyouts. Represents termination payments for regulatory recovery through the capacity clause.
Network Integration Transmission Services deferral. Represents a deferral of costs and return related transmission costs.
Transmission expansion obligation. Represents transmission expansion obligations related to Duke Energy Ohio's withdrawal from MISO.
East Bend deferrals. Represents amounts to be recovered for deferred costs and depreciation related to the East Bend station.
Propane Caverns. Represents amounts for costs related to propane inventory, the net book value of remaining assets and decommissioning costs at Duke Energy Ohio.
Tennessee ARM Deferral. Represents amounts to be recovered for uncollected revenue for 2022 and deferred depreciation and carrying costs on the portion of capital expenditures placed in service but not yet reflected in rates.
Coal Plant Securitization. Represents the North Carolina portion of incremental depreciation and net book value of certain coal-fired plants to be recovered in a future securitization.
Net regulatory liability related to income taxes. Amounts for all registrants include regulatory liabilities related primarily to impacts from the Tax Act. See Note 24 for additional information. Amounts have no immediate impact on rate base as regulatory assets are offset by deferred tax liabilities.
COR regulatory liability. Represents funds received from customers to cover the future removal of property, plant and equipment from retired or abandoned sites as property is retired. Also includes certain deferred gains on NDTF investments.
DOE Settlement. Represents litigation settlement funds received resulting from the DOE’s failure to accept spent nuclear fuel and other radioactive waste from the Crystal River Unit 3 during 2014-2018 as required under the Nuclear Waste Policy Act.
Deferred Nuclear PTC. Represents the net realizable value of nuclear PTCs that will be passed back to customers over time.
Renewable Energy Credits. Represents certificates for the environmental benefits of renewable energy that will be returned to customers in a future period.
RESTRICTIONS ON THE ABILITY OF CERTAIN SUBSIDIARIES TO MAKE DIVIDENDS, ADVANCES AND LOANS TO DUKE ENERGY
As a condition to the approval of merger transactions, the NCUC, PSCSC, PUCO, KPSC and IURC imposed conditions on the ability of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Kentucky, Duke Energy Indiana and Piedmont to transfer funds to Duke Energy through loans or advances, as well as restricted amounts available to pay dividends to Duke Energy. Certain subsidiaries may transfer funds to the Parent by obtaining approval of the respective state regulatory commissions. These conditions imposed restrictions on the ability of the public utility subsidiaries to pay cash dividends as discussed below.
Duke Energy Progress and Duke Energy Florida also have restrictions imposed by their first mortgage bond indentures, which in certain circumstances, limit their ability to make cash dividends or distributions on common stock. Amounts restricted as a result of these provisions were not material at December 31, 2024.
Additionally, certain other subsidiaries of Duke Energy have restrictions on their ability to dividend, loan or advance funds to Duke Energy due to specific legal or regulatory restrictions, including, but not limited to, minimum working capital and tangible net worth requirements.
The restrictions discussed below were not a material amount of Duke Energy's and Progress Energy's net assets at December 31, 2024.
Duke Energy Carolinas
Duke Energy Carolinas must limit cumulative distributions subsequent to mergers to (i) the amount of retained earnings on the day prior to the closing of the mergers, plus (ii) any future earnings recorded.
Duke Energy Progress
Duke Energy Progress must limit cumulative distributions subsequent to the mergers between Duke Energy and Progress Energy and Duke Energy and Piedmont to (i) the amount of retained earnings on the day prior to the closing of the respective mergers, plus (ii) any future earnings recorded.
Duke Energy Ohio
Duke Energy Ohio will not declare and pay dividends out of capital or unearned surplus without the prior authorization of the PUCO. Duke Energy Ohio received FERC and PUCO approval to pay dividends from its equity accounts that are reflective of the amount that it would have in its retained earnings account had push-down accounting for the Cinergy merger not been applied to Duke Energy Ohio’s balance sheet. The conditions include a commitment from Duke Energy Ohio that equity, adjusted to remove the impacts of push-down accounting, will not fall below 30% of total capital.
Duke Energy Kentucky is required to pay dividends solely out of retained earnings and to maintain a minimum of 35% equity in its capital structure.
Duke Energy Indiana
Duke Energy Indiana must limit cumulative distributions subsequent to the merger between Duke Energy and Cinergy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded. In addition, Duke Energy Indiana will not declare and pay dividends out of capital or unearned surplus without prior authorization of the IURC.
Piedmont
Piedmont must limit cumulative distributions subsequent to the acquisition of Piedmont by Duke Energy to (i) the amount of retained earnings on the day prior to the closing of the merger, plus (ii) any future earnings recorded.
RATE-RELATED INFORMATION
The NCUC, PSCSC, FPSC, IURC, PUCO, TPUC and KPSC approve rates for retail electric and natural gas services within their states. The FERC approves rates for electric sales to wholesale customers served under cost-based rates (excluding Ohio and Indiana), as well as sales of transmission service. For open regulatory matters, unless otherwise noted, the Subsidiary Registrants and Duke Energy Kentucky cannot predict the outcome or ultimate resolution of their respective matters.
As discussed further below, the Subsidiary Registrants were impacted by significant storms in 2024:
•In August 2024, Hurricane Debby made landfall in Florida as a Category 1 storm, impacting primarily the Duke Energy Florida territory as well as the Duke Energy Carolinas and Duke Energy Progress territories in North Carolina and South Carolina. Approximately 700,000 customers were impacted across Duke Energy's system.
•In September 2024, Hurricane Helene made landfall in Florida as a Category 4 storm and subsequently impacted all of Duke Energy's service territories as the storm moved inland, with the most severe damage occurring in the Duke Energy Florida territory and the Duke Energy Carolinas and Duke Energy Progress territories in North Carolina and South Carolina. Approximately 3.5 million customers were impacted across Duke Energy's system.
•In October 2024, Hurricane Milton made landfall in Florida as a Category 3 storm, impacting more than 1 million customers in the Duke Energy Florida territory.
Each Subsidiary Registrant is responsible for the restoration of service within its respective service territory and the recovery of related storm costs, including financing costs and, as applicable, the replenishment of storm-related reserves. The Subsidiary Registrants are pursuing all available avenues to recover storm-related costs, including insurance recovery and the securitization for certain costs, where applicable. Total estimated costs for storm restoration and rebuilding of infrastructure, including capital expenditures, for hurricanes Debby, Helene and Milton, net of expected insurance recoveries, are estimated to be approximately $2.8 billion, of which approximately $2.6 billion had been incurred as of December 31, 2024, with $0.2 billion estimated to be incurred for rebuilding in 2025. The following shows the total cost estimates for the registrants that were primarily impacted:
(in millions)
Cost Estimate(a)
Duke Energy Carolinas$1,150 
Duke Energy Progress450 
Duke Energy Florida1,150 
(a)    These estimates could change as the rebuilding of infrastructure is finalized. Duke Energy Florida was the only jurisdiction materially impacted by Hurricane Milton.
Duke Energy Carolinas and Duke Energy Progress
Hurricanes Ian, Debby and Helene
In 2022, Hurricane Ian inflicted severe damage to the Duke Energy Carolinas and Duke Energy Progress territories in North Carolina and South Carolina. Total operation and maintenance expenses incurred for restoration efforts were approximately $95 million, with an additional $8 million in capital investments. Approximately $87 million of the operation and maintenance expenses were deferred in Regulatory assets within Other Noncurrent Assets on the Consolidated Balance Sheets as of December 31, 2023 ($32 million and $55 million for Duke Energy Carolinas and Duke Energy Progress, respectively). As of December 31, 2024, $34 million for Duke Energy Carolinas and $47 million for Duke Energy Progress were deferred in Regulatory assets within Other Noncurrent Assets on the Consolidated Balance Sheets.
In 2024, Hurricanes Debby and Helene significantly impacted the Duke Energy Carolinas and Duke Energy Progress territories in North Carolina and South Carolina. As of December 31, 2024, total operation and maintenance expenses incurred for restoration and rebuilding of infrastructure, were approximately $860 million ($612 million and $248 million for Duke Energy Carolinas and Duke Energy Progress, respectively), with an additional $548 million in capital investments ($402 million and $146 million for Duke Energy Carolinas and Duke Energy Progress, respectively). Approximately $802 million of the operation and maintenance expenses are deferred in Regulatory assets within Other Noncurrent Assets on the Consolidated Balance Sheets as of December 31, 2024 ($583 million and $219 million for Duke Energy Carolinas and Duke Energy Progress, respectively). These amounts are net of expected insurance recoveries and could change going forward as the rebuilding of infrastructure is finalized.
Duke Energy Carolinas and Duke Energy Progress have regulatory tools to recover storm costs including deferral and securitization. In December 2024, Duke Energy Carolinas and Duke Energy Progress filed their joint petition for review and approval of storm recovery costs (Phase 1) with the NCUC to securitize the North Carolina-retail allocable share of storm costs associated with Hurricanes Helene, Debby and Ian, as well as Hurricane Zeta and Winter Storm Izzy, and the establishment of storm reserves for $200 million at Duke Energy Carolinas and $100 million at Duke Energy Progress. On February 3, 2025, Duke Energy Carolinas and Duke Energy Progress filed their joint petition for financing orders (Phase 2). In February 2025, Duke Energy Carolinas and Duke Energy Progress reached a settlement agreement with the North Carolina Public Staff and other intervening parties that resolves all issues between the parties in the Phase 1 proceeding and removes the establishment of storm reserves from the securitization proceeding. Further, the settlement outlines agreement on certain issues in the Phase 2 proceeding. The evidentiary hearing was held on February 13, 2025. Orders from the NCUC are expected by April 2025 in the Phase 1 proceeding and by June 2025 in the Phase 2 proceeding. Subject to NCUC approvals, Duke Energy Carolinas and Duke Energy Progress expect to securitize the North Carolina-retail allocable share of storm costs by the end of 2025.
On February 17, 2025, Duke Energy Carolinas and Duke Energy Progress filed with the PSCSC notice of intent to file a Joint Petition for Financing Orders no earlier than 30 days from the date of the notice, seeking authority to recover the South Carolina-retail allocable share of storm costs associated with Hurricane Helene through securitization. Such petition is contingent upon the resolution of South Carolina legislative provisions relevant to storm recovery financing.
Nuclear Station Subsequent License Renewal
On June 7, 2021, Duke Energy Carolinas filed a subsequent license renewal (SLR) application for the Oconee Nuclear Station (ONS) with the U.S. Nuclear Regulatory Commission (NRC) to renew ONS’s operating license for an additional 20 years. The SLR would extend operations of the facility from 60 to 80 years. The current licenses for units 1 and 2 expire in 2033 and the license for unit 3 expires in 2034.
In December 2022, the NRC issued the Safety Evaluation Report (SER) for the safety portion of the SLR application. The NRC determined Duke Energy Carolinas met the requirements of the applicable regulations and identified actions that have been taken or will be taken to manage the effects of aging and address time-limited analyses. In February 2023, the Advisory Committee on Reactor Safeguards issued a report to the NRC on the safety aspects of the Oconee SLR application, which concluded that the established programs and commitments made by Duke Energy Carolinas to manage age-related degradation provide confidence that Oconee can be operated in accordance with its current licensing basis for the subsequent period of extended operation without undue risk to the health and safety of the public and the SLR application for Oconee should be approved.
In December 2022, the NRC published a notice in the Federal Register that the NRC would conduct a limited scoping process to gather additional information necessary to prepare an environmental impact statement (EIS) to evaluate the environmental impacts at Oconee during the SLR period. The NRC received comments from the Sierra Club and Beyond Nuclear (Petitioners) and the EPA identifying 18 potential impacts that should be considered by the NRC in the EIS, including climate change and flooding, environmental justice, severe accidents and external events. In February 2024, the NRC issued the Oconee site-specific draft EIS. In April 2024, the Petitioners filed a Hearing Request, which proposed three contentions and in June 2024, the Atomic Safety and Licensing Board (ASLB) convened a pre-hearing conference. On January 17, 2025, the ASLB issued a decision on contention admissibility denying the Petitioners' hearing request. In January 2025, the NRC issued the final EIS and on February 17, 2025, the EPA issued a Notice of Availability for the final EIS. A decision on the SLR for ONS is anticipated from the NRC in the first half of 2025.
Duke Energy Carolinas and Duke Energy Progress intend to seek renewal of operating licenses and 20-year license extensions for all of their nuclear stations.
Duke Energy Carolinas
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,481 $1,559 (g)(b)
Storm cost deferrals
691 97 Yes(b)
Accrued pension and OPEB
668 671 (h)
Deferred fuel and purchased power
298 1,293 (e)2026
Deferred asset – Lee COLA
205 237 (b)
Hedge costs deferrals
202 405 (b)
Storm cost securitized balance, net
201 208 Yes2041
Grid Deferral(c)
201 159 Yes(b)
Incremental COVID-19 expenses
137 152 Yes(b)
AMI(c)
114 125 Yes(b)
Vacation accrual
86 87 2025
Nuclear deferral
81 89 2026
COR settlement(c)
81 85 Yes(b)
Coal plant securitization63 — Yes(b)
Deferred coal ash handling system costs(c)
60 65 Yes(b)
Customer connect project(c)
54 58 Yes(b)
Retired generation facilities(c)
54 26 Yes(b)
PISCC and deferred operating expenses
42 48 Yes(b)
Decoupling
24 — Yes(b)
Other141 116 (b)
Total regulatory assets4,884 5,480 
Less: Current portion
685 1,564 
Total noncurrent regulatory assets$4,199 $3,916 
Regulatory Liabilities(a)
AROs – nuclear and other
$2,289 1,673 (b)
Net regulatory liability related to income taxes(d)
1,951 $2,200 Yes(b)
COR regulatory liability(c)
1,479 1,641 Yes(f)
Deferred Nuclear PTC581 — Yes2030
Hedge cost deferrals
199 158 (b)
Deferred fuel and purchased power
108 85 (e)2026
Renewable energy credits102 99 Yes(b)
DSM / EE(c)
53 87 Yes(i)
Accrued pension and OPEB
35 106 (h)
Other 413 528 (b)
Total regulatory liabilities7,210 6,577 
Less: Current portion
618 587 
Total noncurrent regulatory liabilities$6,592 $5,990 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    Recovered over the life of the associated assets.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(i)    Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
2023 North Carolina Rate Case
In January 2023, Duke Energy Carolinas filed a PBR application with the NCUC to request an increase in base rate retail revenues. The PBR application included an MYRP to recover projected capital investments during the three-year MYRP period. In addition to the MYRP, the PBR application included an Earnings Sharing Mechanism, Residential Decoupling Mechanism and Performance Incentive Mechanisms (PIMS) as required by HB 951.
In August 2023, Duke Energy Carolinas filed with the NCUC a partial settlement with the Public Staff in connection with its PBR application. The partial settlement included, among other things, agreement on a substantial portion of the North Carolina retail rate base for the historic base case of approximately $19.5 billion and all of the capital projects and related costs to be included in the three-year MYRP, including $4.6 billion (North Carolina retail allocation) projected to go in service over the MYRP period. Additionally, the partial settlement included agreement, with certain adjustments, on depreciation rates, the recovery of grid improvement plan costs and PIMs, Tracking Metrics and the Residential Decoupling Mechanism under the PBR application. On August 28, 2023, Duke Energy Carolinas filed with the NCUC a second partial settlement with the Public Staff resolving additional issues, including the future treatment of nuclear production tax credits related to the IRA, through a stand-alone rider that would provide the benefits to customers. This stand-alone rider was effective in rates beginning January 1, 2025.
On December 15, 2023, the NCUC issued an order approving Duke Energy Carolinas' PBR application, as modified by the partial settlements and the order, including an overall retail revenue increase of $436 million in Year 1, $174 million in Year 2 and $158 million in Year 3, for a combined total of $768 million. The order established an ROE of 10.1% based upon an equity ratio of 53% and approved, with certain adjustments, depreciation rates and the recovery of grid improvement plan costs and certain deferred COVID-related costs. Additionally, the Residential Decoupling Mechanism and PIMs were approved as requested under the PBR application and revised by the partial settlements. As a result of the partial settlements and the order, Duke Energy Carolinas recognized pretax charges of $29 million within Impairment of assets and other charges, and $8 million within Operations, maintenance and other, for the year ended December 31, 2023, on the Consolidated Statements of Operations. Duke Energy Carolinas implemented interim rates on September 1, 2023. New revised Year 1 rates and the residential decoupling were implemented on January 15, 2024.
In February 2024, a number of parties filed Notices of Appeal of the December 15, 2023 NCUC order. Notices of Appeal were filed by the Carolina Industrial Group for Fair Utility Rates (CIGFUR) III, a collection of various electric membership corporations (collectively, the EMCs), and the North Carolina Attorney General’s Office (the AGO). CIGFUR III and the EMCs appealed the interclass subsidy reduction percentage and the Transmission Cost Allocation stipulation. In addition, CIGFUR III appealed the NCUC’s elimination of the equal percentage fuel cost allocation methodology. The AGO appealed several issues including the authorized ROE and certain rate design and accounting matters. On March 1, 2024, Carolina Utility Customers Association, Inc. appealed several issues, including the authorized ROE and certain rate design and accounting matters. In July 2024, the Supreme Court of North Carolina consolidated the appeal with the parallel appeal of the NCUC's order regarding the Duke Energy Progress PBR application. Briefing is complete and oral argument occurred on February 13, 2025. Duke Energy Carolinas anticipates a decision to be issued no later than the fourth quarter of 2025.
2024 South Carolina Rate Case
In January 2024, Duke Energy Carolinas filed a rate case with the PSCSC to request an increase in base rate retail revenues. In May 2024, Duke Energy Carolinas and the Office of Regulatory Staff, as well as other consumer, environmental, and industrial intervening parties, filed an Agreement and Stipulation of Settlement resolving all issues in the base rate proceeding. The major components of the settlement include a $240 million annual customer rate increase, prior to a reduction from the accelerated return to customers of federal unprotected Property, Plant and Equipment related EDIT of $84 million annually over the first two years. The stipulation includes an ROE of 9.94% with an equity ratio of 51.21% and resolves recovery of the Company's continued investments in the grid, its new corporate headquarters and environmental compliance costs. The PSCSC held a hearing in May 2024, to consider evidence supporting the stipulation. On July 3, 2024, the PSCSC issued its final order approving an increase in base rates and approving nearly all components of the Agreement and Stipulation of Settlement. The order revised recovery of certain environmental compliance costs, the only provision of the settlement agreement not fully approved by the PSCSC. As a result, Duke Energy Carolinas recognized pretax charges of $33 million within Impairment of assets and other charges, $2 million within Operations, maintenance and other, partially offset by an $11 million reduction in Interest expense, for the year ended December 31, 2024, on the Consolidated Statements of Operations. Based upon the order, after accelerating the EDIT giveback to customers, the net rate increase is $150 million annually for the first two years. Revised customer rates were effective August 1, 2024, and are based upon a South Carolina retail rate base of $7.4 billion.
Marshall Combustion Turbines CPCN
In March 2024, Duke Energy Carolinas filed with the NCUC an application to construct and operate two hydrogen-capable advanced-class simple-cycle CTs at the site of the existing Marshall Steam Station. The two new CTs – totaling approximately 850 MW – will enable the retirement of Marshall coal units 1 and 2 and provide incremental capacity to support system capacity needs and expanded flexibility to support integration of renewables. Pending regulatory approvals, construction is planned to start in 2026, and the CTs are targeted to be placed into service by the end of 2028. As part of the application, Duke Energy Carolinas noted that Construction Work in Progress for the proposed facility will accrue AFUDC and will not be in rate base, resulting in no impact on Duke Energy Carolinas' North Carolina retail revenue requirement during the construction period. The 2029 North Carolina retail revenue requirement for the proposed facility is estimated to be $104 million, representing an approximate average retail rate increase of 2.2% across all classes. The expert witness hearing concluded in August 2024. On December 2, 2024, the NCUC issued its order granting the CPCN authorizing the construction of the two CTs. Additionally, on December 19, 2024, the NCDEQ issued final air permits for the CTs.
Duke Energy Progress
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,322 $1,218 (g)(b)
AROs – nuclear and other
900 1,110 (c)
Storm cost securitized balance, net
822 682 Yes(b)
Accrued pension and OPEB
439 408 (j)
Deferred fuel and purchased power
277 579 (e)2026
Storm cost deferrals
276 228 Yes(b)
DSM/EE(d)
188 182 Yes(h)
NCEMPA deferrals(d)
179 172 (f)2042
Retired generation facilities(d)
108 126 Yes(b)
Incremental COVID-19 expenses
89 80 (b)
Hedge costs deferrals
85 260 (b)
AMI(d)
54 68 Yes(b)
Grid Deferral(d)
54 51 Yes(b)
Nuclear deferral
53 42 2026
Customer connect project(d)
45 49 Yes(b)
Vacation accrual
43 43 2025
Coal plant securitization39 8 Yes(b)
PISCC and deferred operating expenses
37 42 Yes2054
Decoupling
32 15 Yes(b)
COR settlement(d)
29 30 Yes(b)
Deferred coal ash handling system costs(d)
17 21 Yes(b)
Deferred asset – Harris COLA
10 15 (b)
Other83 59 (b)
Total regulatory assets5,181 5,488 
Less: Current portion
626 942 
Total noncurrent regulatory assets$4,555 $4,546 
Regulatory Liabilities(a)
COR regulatory liability
$2,984 2,805 (i)
Net regulatory liability related to income taxes(k)
1,320 $1,420 Yes(b)
Hedge cost deferrals
151 87 (b)
Renewable energy credits139 138 Yes(b)
Deferred Nuclear PTC95 — Yes(b)
Accrued pension and OPEB
12 — (j)
Deferred fuel and purchased power
10 14 (e)2026
Other 207 211 (b)
Total regulatory liabilities4,918 4,675 
Less: Current portion
348 300 
Total noncurrent regulatory liabilities$4,570 $4,375 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.
(d)    Included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    South Carolina retail allocated costs are earning a return.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.
(i)    Recovered over the life of the associated assets.
(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
2022 North Carolina Rate Case
In October 2022, Duke Energy Progress filed a PBR application with the NCUC to request an increase in base rate retail revenues. The rate request before the NCUC included an MYRP to recover projected capital investments during the three-year MYRP period. In addition to the MYRP, the PBR Application included an Earnings Sharing Mechanism, Residential Decoupling Mechanism and PIMS as required by HB 951.
In April 2023, Duke Energy Progress filed with the NCUC a partial settlement with Public Staff, which included agreement on many aspects of Duke Energy Progress' three-year MYRP proposal. In May 2023, CIGFUR II joined this partial settlement and Public Staff and CIGFUR II filed a separate settlement reaching agreement on PIMs, Tracking Metrics and the Residential Decoupling Mechanism under the PBR application.
On August 18, 2023, the NCUC issued an order approving Duke Energy Progress' PBR application, as modified by the partial settlements and the order, including an overall retail revenue increase of $233 million in Year 1, $126 million in Year 2 and $135 million in Year 3, for a combined total of $494 million. Key aspects of the order include the approval of North Carolina retail rate base for the historic base case of approximately $12.2 billion and capital projects and related costs to be included in the three-year MYRP, including $3.5 billion (North Carolina retail allocation) projected to go in service over the MYRP period. The order established an ROE of 9.8% based upon an equity ratio of 53% equity and approved, with certain adjustments, depreciation rates and the recovery of grid improvement plan costs and certain deferred COVID-related costs. Additionally, the Residential Decoupling Mechanism and PIMs were approved as requested under the PBR Application and revised by the partial settlements. As a result of the order, Duke Energy Progress recognized pretax charges of $28 million within Impairment of assets and other charges, which primarily related to certain COVID-19 deferred costs, and $8 million within Operations, maintenance and other, for the year ended December 31, 2023, on the Consolidated Statements of Operations. Duke Energy Progress implemented interim rates on June 1, 2023, and implemented revised Year 1 rates and the residential decoupling on October 1, 2023.
In October 2023, CIGFUR II and Haywood Electric Membership Corporation each filed a Notice of Appeal of the August 18, 2023 NCUC order. Both parties were appealing certain matters that do not impact the overall revenue requirement in the rate case. Specifically, they appealed the interclass subsidy reduction percentage, and CIGFUR II also appealed the Customer Assistance Program and the equal percentage fuel cost allocation methodology. On November 6, 2023, the AGO filed a Notice of Cross Appeal of the NCUC’s determination regarding the exclusion of electric vehicle revenue from the residential decoupling mechanism. On November 9, 2023, Duke Energy Progress, the Public Staff, CIGFUR II, and a number of other parties reached a settlement pursuant to which CIGFUR II agreed not to pursue its appeal of the Customer Assistance Program. In July 2024, the Supreme Court of North Carolina consolidated the appeal with the parallel appeal of the NCUC's order regarding the Duke Energy Carolinas PBR application. Briefing is complete and oral arguments occurred on February 13, 2025. Duke Energy Progress anticipates a decision to be issued no later than the fourth quarter of 2025.
2023 South Carolina Storm Securitization
On May 31, 2023, Duke Energy Progress filed a petition with the PSCSC requesting authorization for the financing of Duke Energy Progress' storm recovery costs through securitization due to storm recovery activities required as a result of the following storms: Pax, Ulysses, Matthew, Florence, Michael, Dorian, Izzy and Jasper. On September 8, 2023, Duke Energy Progress filed a comprehensive settlement agreement with all parties on all cost recovery issues raised in the storm securitization proceeding.
The evidentiary hearing occurred in September 2023. On September 20, 2023, the PSCSC approved the comprehensive settlement agreement and on October 13, 2023, the PSCSC issued its financing order. The storm recovery bonds of $177 million were issued by Duke Energy Progress in April 2024 and storm recovery charges were effective May 1, 2024. See Notes 7 and 18 for more information.
2022 South Carolina Rate Case
On September 1, 2022, Duke Energy Progress filed an application with the PSCSC to request an increase in base rate retail revenues. On January 12, 2023, Duke Energy Progress and the ORS, as well as other consumer, environmental, and industrial intervening parties, filed a comprehensive Agreement and Stipulation of Settlement resolving all issues in the base rate proceeding. The major components of the stipulation include an ROE of 9.6% based upon an equity ratio of 52.43% along with the establishment of a storm reserve to help offset the costs of major storms. The stipulation provided for a $52 million annual customer rate increase prior to the reduction from the accelerated return to customers of federal unprotected Property, Plant and Equipment related EDIT; after extending the remaining EDIT giveback to customers to 33 months, the net annual retail rate increase is approximately $36 million. It also allowed continuation of deferral treatment of coal ash basin closure costs and supports an amortization period for remaining coal ash closure costs in this rate case of seven years. Duke Energy Progress agreed not to seek recovery of approximately $50 million of deferred coal ash expenditures related to retired sites in this rate case (South Carolina retail allocation). The 2021 Depreciation Study was accepted as proposed in this case, as adjusted for certain recommendations from ORS and includes accelerated retirement dates for certain coal units as originally proposed. The PSCSC held a hearing in January 2023 and a final written order was issued on March 8, 2023. New rates went into effect April 1, 2023.
Person County Combined Cycle CPCNs
In March 2024, Duke Energy Progress filed with the NCUC its application to construct and operate a 1,360-MW hydrogen-capable, advanced-class CC generating facility in Person County at the site of the existing Roxboro Plant. Subject to negotiation of final contractual terms, the new Roxboro CC will be co-owned with the North Carolina Electric Membership Corporation (NCEMC), with Duke Energy Progress owning approximately 1,135 MW and NCEMC owning the remaining 225 MW. Pending regulatory approvals, construction is planned to start in 2026, with the CC targeted to be placed in service by the end of 2028. The CC will allow for the retirement of Roxboro’s coal-fired units 1 and 4. As part of the application, Duke Energy Progress noted that the recovery of Construction Work in Progress during the construction period for the proposed facility may be pursued in a future rate case. The 2029 North Carolina retail revenue requirement for the proposed facility is estimated to be $98 million, representing an approximate average retail rate increase of 2.6% across all classes. The expert witness hearing concluded in August 2024. On December 6, 2024, the NCUC issued its order granting the CPCN authorizing the construction of the CC. Additionally, on December 19, 2024, the NCDEQ issued a final air permit for the CC.
On February 7, 2025, Duke Energy Progress filed with the NCUC its application to construct and operate a second 1,360-MW hydrogen-capable, advanced-class CC unit in Person County at the Roxboro Plant. NCEMC has also notified Duke Energy Progress of NCEMC's intent to co-own approximately 225 MW of the second CC and Duke Energy Progress and NCEMC plan to begin negotiations on the contractual arrangement in the second quarter of 2025. Pending regulatory approvals, construction of the second CC is planned to start in 2026 with the unit targeted to be placed in service by the end of 2029. As part of the application, Duke Energy Progress noted that the recovery of Construction Work in Progress during the construction period for the proposed facility may be pursued in a future rate case. The 2030 North Carolina retail revenue requirement for the proposed facility is estimated to be $113 million, representing an approximate average retail rate increase of 2.6% across all classes. The air permit issued by the NCDEQ on December 19, 2024, also pertains to the second CC.
Duke Energy Florida
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
Storm cost deferrals(c)
$962 70 (e)(b)
Nuclear asset securitized balance, net
771 830 2036
COR regulatory asset
571 337 (d)(b)
Accrued pension and OPEB(c)
389 349 Yes(f)
Retired generation facilities(c)
94 94 Yes2044
Customer connect project(c)
71 76 Yes2037
Qualifying facility contract buyouts(c)
62 68 Yes2034
Hedge costs deferrals(c)
41 63 Yes2038
AMI(c)
16 24 Yes2032
AROs – coal ash
13 $12 (b)
AROs – nuclear and other
5 17 (b)
Deferred fuel and purchased power
5 594 (e)2025
Other86 69 (d)(b)
Total regulatory assets3,086 2,603 
Less: Current portion
1,022 720 
Total noncurrent regulatory assets$2,064 $1,883 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)
$564 $588 (b)
Hedge cost deferrals(c)
130 121 Yes(b)
DOE Settlement
— 32 
Deferred fuel and purchased power(c)
84 — (e)2025
Other 84 85 (d)(b)
Total regulatory liabilities862 826 
Less: Current portion
174 118 
Total noncurrent regulatory liabilities$688 $708 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns commercial paper rate.
(f)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
2021 Settlement Agreement
In January 2021, Duke Energy Florida filed the 2021 Settlement with the FPSC. The parties to the 2021 Settlement include Duke Energy Florida, the Office of Public Counsel (OPC), the Florida Industrial Power Users Group, White Springs Agricultural Chemicals, Inc. d/b/a PCS Phosphate and NUCOR Steel Florida, Inc. (collectively, the "Parties").
Pursuant to the 2021 Settlement, the Parties agreed to a base rate stay-out provision that expires year-end 2024; however, Duke Energy Florida is allowed an increase to its base rates of an incremental $67 million in 2022, $49 million in 2023 and $79 million in 2024, subject to adjustment in the event of tax reform during the years 2021, 2022 and 2023. The Parties also agreed to an ROE band of 8.85% to 10.85% with a midpoint of 9.85% based upon an equity ratio of 53%. The ROE band can be increased by 25 basis points if the average 30-year U.S. Treasury rate increases 50 basis points or more over a six-month period in which case the midpoint ROE would rise from 9.85% to 10.10%. On July 25, 2022, this provision was triggered. Duke Energy Florida filed a petition with the FPSC in August 2022, to increase the ROE effective August 2022 with a base rate increase effective January 1, 2023. The FPSC approved this request on October 4, 2022. The 2021 Settlement Agreement also provided that Duke Energy Florida would be able to retain $173 million of the expected DOE award from its lawsuit to recover spent nuclear fuel to mitigate customer rates over the term of the 2021 Settlement. In return, Duke Energy Florida was permitted to recognize the $173 million into earnings through the approved settlement period. Duke Energy Florida settled the DOE lawsuit and received payment of approximately $180 million on June 15, 2022, of which the retail portion was approximately $154 million. The 2021 Settlement authorized Duke Energy Florida to collect the difference between $173 million and the $154 million retail portion of the amount received through the capacity cost recovery clause. As of December 31, 2024, Duke Energy Florida has recognized $173 million (pretax) into earnings, including $32 million and $141 million recognized during the year ended December 31, 2024, and 2023, respectively.
The 2021 Settlement also contained a provision to recover or flow back the effects of tax law changes. As a result of the IRA enacted in August 2022, Duke Energy Florida is eligible for PTCs associated with solar facilities placed in service beginning in January 2022. Duke Energy Florida filed a petition with the FPSC in October 2022, to reduce base rates effective January 1, 2023, by $56 million to flow back the expected 2023 PTCs and to flow back the expected 2022 PTCs via an adjustment to the capacity cost recovery clause. On December 14, 2022, the FPSC issued an order approving Duke Energy Florida’s petition. See Note 24 for additional information on the IRA.
In addition to these terms, the 2021 Settlement contained provisions related to the accelerated depreciation of Crystal River Units 4-5, the approval of approximately $1 billion in future investments in new cost-effective solar power, the implementation of a new Electric Vehicle Charging Station Program and the deferral and recovery of costs in connection with the implementation of Duke Energy Florida’s Vision Florida program, which explores various emerging non-carbon emitting generation technology, distributed technologies and resiliency projects, among other things. The 2021 Settlement also resolved remaining unrecovered storm costs for Hurricane Michael and Hurricane Dorian.
The FPSC approved the 2021 Settlement on May 4, 2021, issuing an order on June 4, 2021. Revised customer rates became effective January 1, 2022, with subsequent base rate increases effective January 1, 2023, and January 1, 2024.
Clean Energy Connection
In July 2020, Duke Energy Florida petitioned the FPSC for approval of a voluntary solar program consisting of 10 new solar generating facilities with combined capacity of 749 MW. The FPSC approved the program in January 2021, allowing participants to support cost-effective solar development in Florida by paying a subscription fee based on per kilowatt subscriptions and receiving a credit on their bill based on the actual generation associated with their portion of the solar portfolio. The 10 new solar generation facilities were completed and all of the remaining sites were in-service by the end of 2024 at a cost of approximately $1.1 billion. These investments are included in base rates, offset by the revenue from the subscription fees, with credits included in the fuel cost recovery clause.
In February 2021, the League of United Latin American Citizens (LULAC) filed a notice of appeal of the FPSC’s order approving the Clean Energy Connection to the Supreme Court of Florida. The Supreme Court of Florida heard oral arguments in the appeal in February 2022. On May 27, 2022, the Supreme Court of Florida issued an order remanding the case back to the FPSC so that the FPSC can amend its order to better address some of the arguments raised by LULAC. In September 2022, the FPSC issued a revised order and submitted it to the Supreme Court of Florida. The Supreme Court of Florida requested that the parties file supplemental briefs regarding the revised order, which were filed in February 2023. LULAC has filed a request for Oral Argument on the issues discussed in the supplemental briefs, but the court has yet to rule on that request. The FPSC approval order remains in effect pending the outcome of the appeal.
Storm Protection Plan
At least every three years, Duke Energy Florida must file a Storm Protection Plan (SPP) with the FPSC. Each plan covers a 10-year period and includes investments in transmission and distribution meant to strengthen infrastructure, reduce outage times associated with extreme weather events, reduce restoration costs and improve overall service reliability. In April 2022, Duke Energy Florida filed an SPP for approval with the FPSC for the 2023-2032 time frame. The plan reflected approximately $7 billion of capital investment in transmission and distribution. The evidentiary hearing began in August 2022. In October 2022, the FPSC approved Duke Energy Florida's plan with one modification to remove the transmission loop radially fed program, representing a reduction of approximately $80 million over the 10-year period starting in 2025. In December 2022, the OPC filed a notice of appeal of this order to the Florida Supreme Court and briefs were filed by the OPC and Duke Energy Florida during 2023. On November 14, 2024, the Florida Supreme Court issued an order upholding the FPSC's approval of Duke Energy Florida's plan.
On January 15, 2025, Duke Energy Florida filed an SPP for approval with the FPSC for the 2026-2035 time frame reflecting approximately $7 billion of capital investment in transmission and distribution. The FPSC must approve, with modification, or deny the plan no later than 180 days after filing. A hearing has been scheduled to begin May 20, 2025.
Hurricanes Ian and Idalia
In September 2022, much of Duke Energy Florida’s service territory was impacted by Hurricane Ian, which caused significant damage resulting in more than 1.1 million outages. After depleting any existing storm reserves, which were approximately $107 million before Hurricane Ian, Duke Energy Florida is permitted to petition the FPSC for recovery of additional incremental operation and maintenance costs resulting from the storm and to replenish the retail customer storm reserve to approximately $132 million. Duke Energy Florida filed its petition for cost recovery of various storms, including Hurricane Ian, and replenishment of the storm reserve in January 2023, seeking recovery of $442 million, for recovery over 12 months beginning with the first billing cycle in April 2023. In March 2023, the FPSC approved this request for interim recovery, subject to refund, and ordered Duke Energy Florida to file documentation of the total actual storm costs, once known. Duke Energy Florida filed documentation evidencing its total actual storm costs of $431 million in September 2023. The FPSC approved the prudence of these costs in May 2024.
In August 2023, Hurricane Idalia made landfall on Florida’s gulf coast, causing damage and impacting more than 200,000 customers across Duke Energy Florida's service territory. In October 2023, Duke Energy Florida requested to combine the $92 million retail portion of the deferred estimated Hurricane Idalia costs with $74 million of costs projected to be collected after December 31, 2023, under the existing approved storm cost recovery and storm surcharge. This $74 million of costs relates primarily to the approved ongoing replenishment of the storm reserves. In December 2023, the FPSC approved recovery of the total $166 million over 12 months beginning with its first billing cycle in January 2024, replacing the previously approved storm cost recovery and storm surcharge, and ordered Duke Energy Florida to file documentation of the total actual Idalia related storm costs, once known. Revised rates were effective January 1, 2024. Duke Energy Florida filed documentation evidencing its total Idalia actual storm costs of $98 million in September 2024.
2024 Florida Rate Case
In April 2024, Duke Energy Florida filed a formal request for new base rates with the FPSC. Duke Energy Florida proposed a three-year rate plan that would begin in January 2025, once its current base rate settlement agreement concludes at the end of 2024. Duke Energy Florida proposed multiyear rate increases that use the projected 12-month periods ending December 31, 2025, 2026, and 2027 as the test years, with adjusted rates to be effective with the first billing period of January 2025, 2026, and 2027, respectively.
In July 2024, Duke Energy Florida filed a settlement agreement with the FPSC. The parties to the settlement include Duke Energy Florida, the Office of Public Counsel and other intervening parties. Pursuant to the settlement, the parties agreed to a base rate stay-out provision that expires year-end 2027; however, Duke Energy Florida is allowed an increase to its base rates in 2025 and 2026, as well as utilization of certain tax benefits in lieu of a revenue increase in 2027. Additionally, revenue increases related to solar investments will be recovered via the Solar Base Rate Adjustment mechanism. The parties also agreed to an ROE band of 9.3% to 11.3% with a midpoint of 10.3% and an equity ratio of 53%. The agreement provides for $203 million and $59 million in base rate increases in 2025 and 2026, respectively, as well as increases associated with investments in 12 new solar facilities as they come on line. In August 2024, the FPSC approved the settlement agreement without modification and a final order was issued on November 12, 2024. New rates were effective January 1, 2025.
Hurricanes Debby, Helene and Milton
In August 2024, Hurricane Debby made landfall in Florida as a Category 1 storm, and in September 2024, Hurricane Helene made landfall in Florida as a Category 4 storm, which caused significant damage. In October 2024, Hurricane Milton made landfall in Florida as a Category 3 storm, impacting roughly half of the customers Duke Energy Florida serves in the state. Duke Energy Florida has certain existing storm reserve regulatory liability amounts, which will be applied to recovery of the 2024 storm costs. After depleting any existing storm reserves, which were approximately $63 million as of July 31, 2024, before hurricanes Debby, Helene and Milton, Duke Energy Florida is permitted to petition the FPSC for recovery of additional incremental operation and maintenance costs resulting from the storm and to replenish the retail customer storm reserve to approximately $132 million. Duke Energy Florida filed its petition for cost recovery for all three storms, including replenishment of the storm reserve, on December 27, 2024, seeking recovery of approximately $1.1 billion, for recovery over 12 months beginning with the first billing cycle in March 2025. Approximately $936 million of the operation and maintenance expenses are deferred in Regulatory assets within Current assets as of December 31, 2024. Approximately $69 million of capital related to these storms will be sought for recovery in future base rate case filings. On February 4, 2025, the FPSC voted to approve Duke Energy Florida's request for recovery of these storm costs as filed.
Duke Energy Ohio
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
CEP deferral
$195 193 Yes(b)
Accrued pension and OPEB
131 123 (d)
COR regulatory asset
75 34 (b)
Customer connect project
44 49 (b)
Network Integration Transmission Services deferral
31 31 Yes(b)
Transmission expansion obligation
31 30 (b)
Decoupling
29 25 (b)
Deferred pipeline integrity costs
28 30 Yes(b)
East Bend deferrals(c)
24 28 Yes(b)
Propane caverns
24 26 (b)
PISCC and deferred operating expenses(c)
15 15 Yes2083
AROs – coal ash
14 $17 Yes(b)
Deferred fuel and purchased gas costs
8 20 2025
AMI
8 13 (b)
Storm cost deferrals
5 12 2025
Other131 103 (b)
Total regulatory assets793 749 
Less: Current portion
88 73 
Total noncurrent regulatory assets$705 $676 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$432 $466 (b)
Accrued pension and OPEB
14 17 (d)
Deferred fuel and purchased gas costs
— 15 2025
Other 53 55 (b)
Total regulatory liabilities499 553 
Less: Current portion
34 56 
Total noncurrent regulatory liabilities$465 $497 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Duke Energy Ohio Electric Base Rate Case
In October 2021, Duke Energy Ohio filed an electric distribution base rate case application with the PUCO. In September 2022, Duke Energy Ohio filed a Stipulation and Recommendation with the PUCO, which included an increase in overall electric distribution base rates of approximately $23 million with an equity ratio of 50.5% and an ROE of 9.5%. The stipulation was among all but one party to the proceeding. The PUCO issued an order on December 14, 2022, approving the Stipulation without material modification and new rates went into effect on January 3, 2023. The Ohio Consumers' Counsel (OCC) filed an application for rehearing in January 2023, arguing the Stipulation was unreasonable, discriminatory and denied OCC due process. In March 2024, the PUCO denied OCC's rehearing application. The deadline for OCC to seek an appeal has expired and the matter is now closed.
Energy Efficiency Cost Recovery
In response to changes in Ohio law that eliminated Ohio's energy efficiency mandates, the PUCO issued an order on February 26, 2020, directing utilities to wind down their demand-side management programs by September 30, 2020, and to terminate the programs by December 31, 2020. In March 2020, Duke Energy Ohio filed an application for rehearing seeking clarification on the final true up and reconciliation process after 2020. Effective January 1, 2021, Duke Energy Ohio suspended its energy efficiency programs. In August 2023, the PUCO issued its decision approving the Company’s request for recovery and final true up of energy efficiency program costs, lost distribution revenues and performance incentives from calendar years 2018 through 2020, resulting in $14 million of Regulated electric revenue on the Consolidated Statements of Operations for the year ended December 31, 2023, and resolving all outstanding issues in these proceedings. Revised rates were effective September 1, 2023.
Duke Energy Ohio Natural Gas Base Rate Case
In June 2022, Duke Energy Ohio filed a natural gas base rate case application with the PUCO. The drivers for this case are capital invested since Duke Energy Ohio's last natural gas base rate case in 2012. Duke Energy Ohio also sought to adjust the caps on its CEP Rider. In April 2023, Duke Energy Ohio filed a stipulation with all parties to the case except the OCC. In the stipulation, the parties agreed to approximately $32 million in revenue increases with an equity ratio of 52.32% and an ROE of 9.6%, and adjustments to the CEP Rider caps. The stipulation was opposed by the OCC at an evidentiary hearing that concluded in May 2023. On November 1, 2023, PUCO issued an order approving the stipulation as filed and new rates went into effect November 1, 2023. In December 2023, the OCC filed an application for rehearing and the PUCO granted OCC's application for rehearing for further consideration of issues raised. As a result of a Supreme Court of Ohio decision regarding procedural issues related to applications for rehearing, PUCO denied OCC’s rehearing request. In October 2024, the OCC filed its Notice of Appeal with the Ohio Supreme Court. OCC's initial brief was filed January 27, 2025.
Duke Energy Ohio Electric Security Plan
In April 2024, Duke Energy Ohio filed with the PUCO a request for an Electric Security Plan (ESP). The ESP application proposes a three-year term from June 1, 2025, through May 31, 2028, and includes continuation of market-based customer rates through competitive procurement processes for generation and continuation and expansion of existing rider mechanisms. Duke Energy Ohio is proposing a new rider mechanism relating to electric distribution infrastructure modernization programs, which may be enabled by and partially funded through federal or state funding opportunities, future battery storage projects, and two proposed electric vehicle programs. Additional proposed new rider mechanisms are related to solar for all investments for low-income and disadvantaged communities, low-income senior citizen bill assistance, and energy efficiency and demand-side management programs.
In November 2024, Duke Energy Ohio filed a stipulation with majority of the intervenors signed as either signatory or non-opposing parties. The stipulation includes the continuation of market-based customer rates through competitive procurement auctions and the continuation of all existing riders. It further establishes new caps for certain riders. Duke Energy Ohio has also agreed to withdraw its proposals for an infrastructure modernization rider, battery storage projects and electric vehicle programs. The stipulation includes a residential EE program with provisions for low-income customers. The evidentiary hearing concluded January 23, 2025. A briefing schedule has been ordered with final reply briefs due March 14, 2025.
MGP Cost Recovery
In an order issued in 2013, the PUCO approved Duke Energy Ohio's deferral and recovery of costs related to environmental remediation at two sites (East End and West End) that housed former MGP operations. Duke Energy Ohio made annual applications with the PUCO to recover its incremental remediation costs consistent with the PUCO’s directive in Duke Energy Ohio’s 2012 natural gas base rate case.
A Stipulation and Recommendation was filed jointly by Duke Energy Ohio, the Staff, the Office of the Ohio Consumers' Counsel and the Ohio Energy Group in August 2021, which was approved without modification by the PUCO in April 2022. The Stipulation and Recommendation resolved all open issues regarding MGP remediation costs incurred between 2013 and 2019, Duke Energy Ohio’s request for additional deferral authority beyond 2019 and the pending issues related to the Tax Act described below as it related to Duke Energy Ohio’s natural gas operations. As a result of the approval of the Stipulation and Recommendation, Duke Energy Ohio recognized pretax charges of approximately $15 million to Operating revenues, regulated natural gas and $58 million to Operation, maintenance and other and a tax benefit of $72 million to Income Tax (Benefit) Expense in the Consolidated Statements of Operations for the year ended December 31, 2022. The Stipulation and Recommendation further acknowledged Duke Energy Ohio’s ability to file a request for additional deferral authority in the future related to environmental remediation of any MGP impacts in the Ohio River, if necessary, subject to specific conditions. In June 2022, the PUCO granted rehearing requests for further consideration of Interstate Gas Supply, Inc. (IGS) and The Retail Energy Supply Association (RESA). As a result of a Supreme Court of Ohio decision regarding procedural issues related to applications for rehearing, PUCO denied these rehearing requests. On October 28, 2024, RESA and IGS filed an appeal with the Supreme Court of Ohio. On January 10, 2025, RESA and IGS withdrew their appeal and the Supreme Court of Ohio dismissed the appeal on January 14, 2025. This matter is now resolved.
Tax Act – Ohio
In December 2018, Duke Energy Ohio filed an application to change its base rate tariffs and establish a rider to implement the benefits of the Tax Act for natural gas customers. The rider would flow through to customers the benefit of the reduction in the statutory federal tax rate from 35% to 21% since January 1, 2018, all future benefits of the lower tax rates and a full refund of deferred income taxes collected at the higher tax rates in prior years. Deferred income taxes subject to normalization rules would be refunded consistent with federal law and deferred income taxes not subject to normalization rules would be refunded over a 10-year period. An evidentiary hearing occurred in August 2019. The Stipulation and Recommendation filed in August 2021, and approved on April 20, 2022, disclosed in the MGP Cost Recovery matter above, resolved the outstanding issues in this proceeding by providing customers a one-time bill credit for the reduction in the statutory federal tax rate from 35% to 21% since January 1, 2018, through June 1, 2022, and reducing base rates going forward. Deferred income taxes not subject to normalization rules were written off. Deferred income taxes subject to normalization rules are refunded consistent with federal law through a rider. The commission granted the rehearing requests of IGS and RESA for further consideration. As a result of a Supreme Court of Ohio decision regarding procedural issues related to applications for rehearing, PUCO denied these rehearing requests. On October 28, 2024, RESA and IGS filed an appeal with the Supreme Court of Ohio. On January 10, 2025, RESA and IGS withdrew their appeal and the Supreme Court of Ohio dismissed the appeal on January 14, 2025. This matter is now resolved.
Duke Energy Kentucky 2022 Electric Base Rate Case
In December 2022, Duke Energy Kentucky filed a base rate case with the KPSC driven by capital investments to strengthen the electricity generation and delivery systems along with adjusted depreciation rates for the East Bend and Woodsdale CT generation stations. Duke Energy Kentucky also requested approval for new programs and tariff updates, including a voluntary community-based renewable subscription program and two electric vehicle charging programs. The KPSC issued an order on October 12, 2023, including a $48 million increase in base revenues, an ROE of 9.75% for electric base rates and 9.65% for electric riders and an equity ratio of 52.145%. New rates went into effect October 13, 2023. The Company's request to align the depreciation rates of East Bend with a 2035 retirement date was denied and the KPSC ordered depreciation rates with a 2041 retirement date for the unit. The KPSC did approve the request to align the depreciation rates of Woodsdale CT with a 2040 retirement date and denied the voluntary community-based renewable subscription program and the two electric vehicle charging programs.
In November 2023, Duke Energy Kentucky filed for rehearing requesting certain matters be reconsidered by the KPSC and the KPSC granted in part and denied in part the Company's request for rehearing. On July 1, 2024, the KPSC issued its final order on rehearing, ruling in Duke Energy Kentucky's favor on nearly all issues. However, the KPSC ordered Duke Energy Kentucky to refund alleged over collections since the KPSC's October 12, 2023, order. On July 10, 2024, the KPSC issued an order correcting the base fuel rate used to calculate new base rates in its July 1, 2024, order and its calculation of Duke Energy Kentucky's Street Lighting Rate. New rates were implemented in August 2024.
On December 14, 2023, Duke Energy Kentucky filed an appeal with the Franklin County Circuit Court on certain matters for which the KPSC denied rehearing, specifically as it relates to including decommissioning costs in depreciation rates for East Bend and Woodsdale. Duke Energy Kentucky and Appellee briefs were filed in 2024.
Duke Energy Kentucky 2024 Electric Base Rate Case
On December 2, 2024, Duke Energy Kentucky filed a base rate case with the KPSC requesting an annualized increase in electric base rates of approximately $70 million and an ROE of 10.85% with an equity ratio of 52.728%. This is an overall increase of approximately 14.7%. The request for the rate increase is driven by capital investments to strengthen the electricity generation and delivery systems. New rates are anticipated to go into effect around July 2, 2025. An evidentiary hearing is scheduled to begin on May 21, 2025.
Duke Energy Indiana
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$554 $408 Yes(b)
PISCC and deferred operating expenses(c)
237 241 Yes(b)
Accrued pension and OPEB
212 208 (e)
Retired generation facilities(c)
25 29 Yes2030
Hedge costs deferrals
23 19 (b)
Customer connect project
19 19 (b)
Storm cost deferrals
17 11 (b)
AMI
12 13 2031
Other54 48 (b)
Total regulatory assets1,153 996 
Less: Current portion
113 102 
Total noncurrent regulatory assets$1,040 $894 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$725 $794 (b)
COR regulatory liability
434 496 (d)
Accrued pension and OPEB
139 109 (e)
Hedge cost deferrals
103 77 (b)
Deferred fuel and purchased power
21 23 2025
Other 165 169 (b)
Total regulatory liabilities1,587 1,668 
Less: Current portion
183 209 
Total noncurrent regulatory liabilities$1,404 $1,459 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Refunded over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
2019 Indiana Rate Case
In July 2019, Duke Energy Indiana filed a general rate case with the IURC for a rate increase for retail customers. On June 29, 2020, the IURC issued an order in the rate case approving a revenue increase of $146 million before certain adjustments and ratemaking refinements. The order approved Duke Energy Indiana's requested forecasted rate base of $10.2 billion as of December 31, 2020, including the Edwardsport Integrated Gasification Combined Cycle (IGCC) Plant. The IURC reduced Duke Energy Indiana's request by slightly more than $200 million, when accounting for the utility receipts tax and other adjustments. Step one rates were estimated to be approximately 75% of the total rate increase and became effective on July 30, 2020. Step two rates estimated to be the remaining 25% of the total rate increase were approved on July 28, 2021, and implemented in August 2021.
Several groups appealed the IURC order to the Indiana Court of Appeals. The Indiana Court of Appeals affirmed the IURC decision on May 13, 2021. However, upon appeal by the Indiana Office of Utility Consumer Counselor (OUCC) and the Duke Industrial Group in March 2022, the Indiana Supreme Court found that the IURC erred in allowing Duke Energy Indiana to recover coal ash costs incurred before the IURC’s rate case order in June 2020. The Indiana Supreme Court found that allowing Duke Energy Indiana to recover coal ash costs incurred between rate cases that exceeded the amount built into base rates violated the prohibition against retroactive ratemaking. The IURC’s order was remanded to the IURC for additional proceedings consistent with the Indiana Supreme Court’s opinion. As a result of the court's opinion, Duke Energy Indiana recognized pretax charges of approximately $211 million to Impairment of assets and other charges and $46 million to Operating revenues in the Consolidated Statements of Operations for the year ended December 31, 2022. Duke Energy Indiana filed a request for rehearing with the Supreme Court in April 2022, which the court denied. In February 2023, Duke Energy Indiana filed a settlement agreement reached with the OUCC and Duke Industrial Group, which includes an agreed amount of approximately $70 million of refunds to be paid to customers. The IURC approved this settlement agreement in its entirety on April 12, 2023. In June 2023, Duke Energy Indiana commenced refunding the approximate $70 million to customers in accordance with the settlement agreement, which was completed in May 2024.
Indiana Coal Ash Recovery
In Duke Energy Indiana’s 2019 rate case, the IURC also opened a subdocket for post-2018 coal ash related expenditures. Duke Energy Indiana filed testimony in April 2020, in the coal ash subdocket requesting recovery for the post-2018 coal ash basin closure costs for plans that have been approved by the Indiana Department of Environmental Management (IDEM) as well as continuing deferral, with carrying costs, on the balance. On November 3, 2021, the IURC issued an order allowing recovery for post-2018 coal ash basin closure costs for the plans that have been approved by IDEM, as well as continuing deferral, with carrying costs, on the balance. The OUCC and the Duke Industrial Group appealed. The Indiana Court of Appeals issued its opinion on February 21, 2023, reversing the IURC's order to the extent that it allowed Duke Energy Indiana to recover federally mandated costs incurred prior to the IURC's November 3, 2021, order. In addition, the court found that any costs incurred pre-petition to determine federally mandated compliance options were not specifically authorized by the statute and should also be disallowed. As a result of the Indiana Court of Appeals' opinion, Duke Energy Indiana recognized a pretax charge of approximately $175 million to Impairment of assets and other charges for the year ended December 31, 2022.
In the second quarter of 2023, Duke Energy Indiana filed its proposal to remove from rates certain costs incurred prior to the IURC's November 3, 2021, order date. On September 20, 2023, the commission approved the Company's proposal to remove the costs from its rates and assessed simple interest of the refunds of 4.71%, beginning from when the costs were initially recovered from customers. Duke Energy Indiana included a request to recover the pre-order costs denied by the Indiana Court of Appeals and certain future coal ash closure costs as part of depreciation costs in the 2024 Indiana Rate Case.
On August 30, 2023, Duke Energy Indiana filed a new petition under the amended version of the federal mandate statute for additional post-2018 coal ash closure costs for the remaining basins not included in the Indiana coal ash recovery case from 2020. An evidentiary hearing was held in January 2024. On May 8, 2024, the IURC issued a CPCN and approved these coal ash related compliance projects as federally mandated compliance projects. In June 2024, the Citizens Action Coalition of Indiana (CAC) filed a motion to appeal the IURC order granting the coal ash CPCN proceeding and approving the coal ash related compliance projects. Briefing was completed January 24, 2025.
TDSIC 2.0
In November 2021, Duke Energy Indiana filed for approval of the Transmission, Distribution, Storage Improvement Charge 2.0 investment plan for 2023-2028 (TDSIC 2.0). On June 15, 2022, the IURC approved, without modification, TDSIC 2.0, which includes approximately $2 billion in transmission and distribution investments selected to improve customer reliability, harden and improve resiliency of the grid, enable expansion of renewable and distributed energy projects and encourage economic development. In July 2022, the OUCC filed a notice of appeal to the Indiana Court of Appeals in Duke Energy Indiana’s TDSIC 2.0 proceeding. The Indiana Court of Appeals issued its opinion on March 9, 2023, affirming the IURC’s order in its entirety. The Duke Industrial Group filed a petition to transfer to the Indiana Supreme Court. On December 19, 2024, the Indiana Supreme Court affirmed the Indiana Court of Appeals decision, concluding there was substantial evidence that the IURC's conclusion was reasonable and the TDSIC 2.0 plan met the statutory requirements. On January 21, 2025, the Duke Industrial Group filed a motion for rehearing.
2024 Indiana Rate Case
In April 2024, Duke Energy Indiana filed an application with the IURC for a rate increase of $492 million, representing an overall average bill increase of approximately 16.2%, which, if approved, would be added to retail customer bills in two steps, approximately 11.7% in 2025 and approximately 4.5% in 2026. Duke Energy Indiana requested an ROE of 10.5% with an equity ratio of 53%. The rate increase is driven by $1.6 billion in investments made since the last general rate case filed in 2019 in order to reliably serve customers, improve resiliency of the system, and advance environmental sustainability. An evidentiary hearing was completed in September 2024, with briefing continued until October 31, 2024.
In connection with this rate case, a $29 million increase in a regulatory liability associated with certain employee post-retirement benefits was recorded in December 2024. An order for the rate case was issued by the IURC on January 29, 2025, and revised February 3, 2025, which authorized an ROE of 9.75%, an equity ratio of 53% and an annual revenue increase of $296 million. Based on review of these orders, Duke Energy Indiana identified an inconsistency in the calculation of operating revenues before the effect of trackers. On February 7, 2025, Duke Energy Indiana made a compliance filing in accordance with the IURC's findings in its order and addressing the identified inconsistencies. The compliance filing also clarified the annual revenue increase was approximately $385 million. Additionally, on February 18, 2025, one industrial customer submitted a filing requesting the IURC to clarify its revenue allocation in these proceedings. On February 25, 2025, the IURC approved Duke Energy Indiana’s compliance filing subject to refund, pending the outcome of the petition for rehearing. New rates, subject to refund, were implemented February 27, 2025.
Cayuga Combined Cycle CPCN
On February 13, 2025, Duke Energy Indiana filed for a CPCN seeking approval to construct two 1x1 CC natural gas-fired units with a combined winter rating of 1,476 MW. The Cayuga CC Project is proposed to be constructed on the same site as the retiring Cayuga coal-fired steam units with a winter rating of 1,005 MW. The Cayuga CC Project will result in an incremental 471 MW for the Duke Energy Indiana system and will allow Duke Energy Indiana to avoid expected maintenance and environmental compliance costs needed for the coal units to continue operating. The estimated cost of the Cayuga CC project is $2.97 billion, plus AFUDC and project reserves. Duke Energy Indiana has proposed recovery of certain costs of the facility during construction, including AFUDC, through construction work in progress ratemaking through a proposed generation cost adjustment tracker mechanism and estimates an average retail rate impact of approximately 5.4% during construction. Duke Energy Indiana expects CC 1 to be placed in service in 2029 and CC 2 to be placed in service in 2030. An evidentiary hearing is expected in June 2025.
Piedmont
Regulatory Assets and Liabilities
The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
Accrued pension and OPEB(c)
144 129 (g)
Deferred pipeline integrity costs(c)
101 103 2034
Derivatives – natural gas supply contracts(f)
94 147 
Decoupling
77 75 (e)(b)
Tennessee ARM Deferral
33 20 (e)(b)
AROs – nuclear and other
29 $26 (d)
Customer connect project(c)
24 9 2030
Vacation accrual
14 13 2025
Pipeline Integrity Management – Transmission/Distribution14 — (b)
Other49 49 (e)(b)
Total regulatory assets579 571 
Less: Current portion
158 161 
Total noncurrent regulatory assets$421 $410 
Regulatory Liabilities(a)
COR regulatory liability(c)
$539 555 (d)
Net regulatory liability related to income taxes
405 $433 (b)
Other 80 98 (e)(b)
Total regulatory liabilities1,024 1,086 
Less: Current portion
68 98 
Total noncurrent regulatory liabilities$956 $988 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Certain costs earn/pay a return.
(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
2024 North Carolina Rate Case
In April 2024, Piedmont filed an application with the NCUC for a rate increase for retail customers. In September 2024, Piedmont, the Public Staff and other intervening parties filed an Agreement and Stipulation of Settlement with the NCUC resolving all issues in the general rate case. The major components of the settlement include an overall average effective increase in net annual retail revenues of $88 million in the first year and $10 million of additional revenue after the first year. The settlement includes an ROE of 9.8% with an equity ratio of 52.3% and the addition of a rider mechanism for recovery of pipeline integrity management operations and maintenance expenses. The settlement was subject to the review and approval of the NCUC. The evidentiary hearing concluded in September 2024, and Piedmont implemented revised rates November 1, 2024. The NCUC issued its order approving the settlement as filed on January 7, 2025.
OTHER REGULATORY MATTERS
Potential Coal Plant Retirements
The Subsidiary Registrants periodically file IRPs with their state regulatory commissions. The IRPs provide a view of forecasted energy needs over a long term (10 to 20 years) and resources proposed to meet those needs. The IRPs also include planning assumptions around future retirement dates of aging coal-fired generating facilities.
Duke Energy Carolinas and Duke Energy Progress received an NCUC order on the 2022 Carbon Plan that concluded the projected retirement dates for their coal-fired generating facilities were reasonable for planning purposes and further directed that appropriate steps be taken to optimally retire the coal fleet according to such schedule. In August 2023, Duke Energy Carolinas and Duke Energy Progress filed their 2023 systemwide Carolinas Resource Plan with the NCUC and PSCSC, with a supplemental filing in January 2024 that demonstrated a need for additional resources beyond the set of resources identified by the companies in their initial plan. The NCUC and PSCSC issued orders in 2024 generally approving the resource plan. See the "Other Matters" section of Item 7 Management's Discussion and Analysis for further details on resource plans.
Duke Energy continues to evaluate the retirement date assumptions for all coal-fired generating facilities as changes in energy usage and/or growth and availability of replacement generation could result in different retirement dates of units than their current estimated useful lives. Except as previously discussed related to Duke Energy Kentucky's East Bend plant, rate cases recently filed or approved across all jurisdictions included proposed depreciation rates that approximate earlier retirement dates as outlined in recent IRPs. Duke Energy plans to seek regulatory recovery for amounts that would not be otherwise recovered when any of these assets are retired.
v3.25.0.1
Commitments and Contingencies
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
INSURANCE
General Insurance
The Duke Energy Registrants have insurance and reinsurance coverage either directly or through indemnification from Duke Energy’s captive insurance company, Bison, and its affiliates, consistent with companies engaged in similar commercial operations with similar type properties. The Duke Energy Registrants’ coverage includes (i) commercial general liability coverage for liabilities arising to third parties for bodily injury and property damage; (ii) workers’ compensation; (iii) automobile liability coverage; and (iv) property coverage for all real and personal property damage. Real and personal property damage coverage excludes electric transmission and distribution lines, but includes damages arising from boiler and machinery breakdowns, earthquakes, flood damage and extra expense, but not outage or replacement power coverage. All coverage is subject to certain deductibles or retentions, sublimits, exclusions, terms and conditions common for companies with similar types of operations. The Duke Energy Registrants self-insure their electric transmission and distribution lines against loss due to storm damage and other natural disasters. As discussed further in Note 4, Duke Energy Florida maintains a storm damage reserve and has a regulatory mechanism to recover the cost of named storms on an expedited basis.
The cost of the Duke Energy Registrants’ coverage can fluctuate from year to year reflecting claims history and conditions of the insurance and reinsurance markets. In the event of a loss, terms and amounts of insurance and reinsurance available might not be adequate to cover claims and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on the Duke Energy Registrants’ results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available.
Nuclear Insurance
Duke Energy Carolinas owns and operates McGuire and Oconee and operates and has a partial ownership interest in Catawba. McGuire and Catawba each have two reactors. Oconee has three reactors. The other joint owners of Catawba reimburse Duke Energy Carolinas for certain expenses associated with nuclear insurance per the Catawba joint owner agreements.
Duke Energy Progress owns and operates Robinson, Brunswick and Harris. Robinson and Harris each have one reactor. Brunswick has two reactors.
Duke Energy Florida owns Crystal River Unit 3, which permanently ceased operation in 2013 and achieved a SAFSTOR condition in July 2019. On October 1, 2020, Crystal River Unit 3 changed decommissioning strategies from SAFSTOR to DECON.
In the event of a loss, terms and amounts of insurance available might not be adequate to cover property damage and other expenses incurred. Uninsured losses and other expenses, to the extent not recovered by other sources, could have a material effect on Duke Energy Carolinas’, Duke Energy Progress’ and Duke Energy Florida’s results of operations, cash flows or financial position. Each company is responsible to the extent losses may be excluded or exceed limits of the coverage available.
Nuclear Liability Coverage
The Price-Anderson Act requires owners of nuclear reactors to provide for public nuclear liability protection per nuclear incident up to a maximum total financial protection liability. The maximum total financial protection liability, which is approximately $16.2 billion, is subject to change every five years for inflation and for the number of licensed reactors. Total nuclear liability coverage consists of a combination of private primary nuclear liability insurance coverage and a mandatory industry risk-sharing program to provide for excess nuclear liability coverage above the maximum reasonably available private primary coverage. The U.S. Congress could impose revenue-raising measures on the nuclear industry to pay claims.
Primary Liability Insurance
Duke Energy Carolinas and Duke Energy Progress have purchased the maximum reasonably available private primary nuclear liability insurance as required by law, which is $500 million per station. Duke Energy Florida has purchased $100 million primary nuclear liability insurance for Crystal River in compliance with the law.
Excess Liability Program
This program provides $15.8 billion of coverage per incident through the Price-Anderson Act’s mandatory industrywide excess secondary financial protection program of risk pooling. This amount is the product of potential cumulative retrospective premium assessments of $166 million times the current 95 licensed commercial nuclear reactors in the U.S. Under this program, operating unit licensees could be assessed retrospective premiums to compensate for public nuclear liability damages in the event of a nuclear incident at any licensed facility in the U.S. Retrospective premiums may be assessed at a rate not to exceed $24.7 million per year per licensed reactor for each incident. The assessment may be subject to state premium taxes.
Nuclear Property and Accidental Outage Coverage
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are members of Nuclear Electric Insurance Limited (NEIL), an industry mutual insurance company, which provides property damage, nuclear accident decontamination and premature decommissioning insurance for each station for losses resulting from damage to its nuclear plants, either due to accidents or acts of terrorism. Additionally, NEIL provides accidental outage coverage for losses in the event of a major accidental outage at an insured nuclear station.
Pursuant to regulations of the NRC, each company’s property damage insurance policies provide that all proceeds from such insurance be applied, first, to place the plant in a safe and stable condition after a qualifying accident and second, to decontaminate the plant before any proceeds can be used for decommissioning, plant repair or restoration.
Losses resulting from acts of terrorism are covered as common occurrences, such that if terrorist acts occur against one or more commercial nuclear power plants insured by NEIL within a 12-month period, they would be treated as one event and the owners of the plants where the act occurred would share one full limit of liability. The full limit of liability is currently $3.2 billion. NEIL sublimits the total aggregate for all of their policies for non-nuclear terrorist events to approximately $1.8 billion.
Each nuclear facility has accident property damage, nuclear accident decontamination and premature decommissioning liability insurance from NEIL with limits of $1.5 billion, except for Crystal River Unit 3. Crystal River Unit 3’s limit is $50 million and is on an actual cash value basis. All nuclear facilities except for Catawba and Crystal River Unit 3 also share an additional $1.25 billion nuclear accident insurance limit above their dedicated underlying limit. This shared additional excess limit is not subject to reinstatement in the event of a loss. Catawba has a dedicated $1.25 billion of additional nuclear accident insurance limit above its dedicated underlying limit. Catawba and Oconee also have an additional $750 million of non-nuclear accident property damage limit. All coverages are subject to sublimits and significant deductibles.
NEIL’s Accidental Outage policy provides some coverage, similar to business interruption, for losses in the event of a major accident property damage outage of a nuclear unit. Coverage is provided on a weekly limit basis after a significant waiting period deductible and at 100% of the applicable weekly limits for 52 weeks and 80% of the applicable weekly limits for up to the next 110 weeks. Coverage is provided until these applicable weekly periods are met, where the accidental outage policy limit will not exceed $490 million for each nuclear plant. NEIL sublimits the accidental outage recovery up to the first 104 weeks of coverage not to exceed $291 million from non-nuclear accidental property damage. Coverage amounts decrease in the event more than one unit at a station is out of service due to a common accident. All coverages are subject to sublimits and significant deductibles.
Potential Retroactive Premium Assessments
In the event of NEIL losses, NEIL’s board of directors may assess member companies' retroactive premiums of amounts up to 10 times their annual premiums for up to six years after a loss. NEIL has never exercised this assessment. The maximum aggregate current year policies' annual retrospective premium obligations for Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are $162 million, $99 million and $1 million, respectively. Duke Energy Carolinas' maximum assessment amount includes 100% of potential obligations to NEIL for jointly owned reactors. Duke Energy Carolinas would seek reimbursement from the joint owners for their portion of these assessment amounts.
ENVIRONMENTAL
The Duke Energy Registrants are subject to federal, state and local regulations regarding air and water quality, hazardous and solid waste disposal, coal ash and other environmental matters. These regulations can be changed from time to time, imposing new obligations on the Duke Energy Registrants. The following environmental matters impact all of the Duke Energy Registrants.
Remediation Activities
In addition to AROs recorded as a result of various environmental regulations, discussed in Note 10, the Duke Energy Registrants are responsible for environmental remediation at various sites. These include certain properties that are part of ongoing operations and sites formerly owned or used by Duke Energy entities. These sites are in various stages of investigation, remediation and monitoring. Managed in conjunction with relevant federal, state and local agencies, remediation activities vary based upon site conditions and location, remediation requirements, complexity and sharing of responsibility. If remediation activities involve joint and several liability provisions, strict liability, or cost recovery or contribution actions, the Duke Energy Registrants could potentially be held responsible for environmental impacts caused by other potentially responsible parties and may also benefit from insurance policies or contractual indemnities that cover some or all cleanup costs. Liabilities are recorded when losses become probable and are reasonably estimable. The total costs that may be incurred cannot be estimated because the extent of environmental impact, allocation among potentially responsible parties, remediation alternatives and/or regulatory decisions have not yet been determined at all sites. Additional costs associated with remediation activities are likely to be incurred in the future and could be significant. Costs are typically expensed as Operation, maintenance and other in the Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable.
The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Other Current Liabilities and Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets.
(in millions)December 31, 2024December 31, 2023
Reserves for Environmental Remediation
Duke Energy$73 $88 
Duke Energy Carolinas24 23 
Progress Energy19 19 
Duke Energy Progress9 9 
Duke Energy Florida10 10 
Duke Energy Ohio21 36 
Duke Energy Indiana2 2 
Piedmont7 7 
Additional losses in excess of recorded reserves that could be incurred for the stages of investigation, remediation and monitoring for environmental sites that have been evaluated at this time are not material.
LITIGATION
For open litigation, unless otherwise noted, Duke Energy and the Subsidiary Registrants cannot predict the outcome or ultimate resolution of their respective matters.
Duke Energy
Texas Storm Uri Tort Litigation
Duke Energy (Parent), several Duke Energy renewables project companies, and others in the ERCOT market were named in multiple lawsuits arising out of Texas Storm Uri, which occurred in February 2021. These lawsuits sought recovery for property damage, personal injury and wrongful death allegedly caused by the power outages that plaintiffs claim were the collective failure of generators including entities owned by Duke Energy at the time, transmission and distribution operators (TDUs), retail energy providers, and all others, including ERCOT. The cases were consolidated into a Texas state court multidistrict litigation (MDL) proceeding for discovery and pre-trial motions. Five MDL cases were designated as lead cases in which motions to dismiss were filed and all other cases were stayed.
In the cases against the generators, the plaintiffs dismissed the claims against Duke Energy (Parent). In October 2023, in conjunction with the closing of the sale of the utility-scale solar and wind group, all but one of the project company lawsuits transferred to Brookfield. In May 2024, the remaining project company claim in the lawsuit was transferred to the buyer in connection with the sale of a portion of the remaining Commercial Renewables assets. With the transfer of the remaining project company lawsuits now complete, the matter is closed as it relates to the Duke Energy Registrants. See Note 2 for more information related to the sale of the Commercial Renewables Disposal Groups.
Mooresville Coal Ash Class Action Litigation
On December 20, 2024, 15 plaintiffs filed a lawsuit in Iredell County, North Carolina, against Duke Energy (Parent), Duke Energy Carolinas and Duke Energy Progress (collectively “Duke Energy”) on behalf of a putative class alleging past and ongoing environmental contamination in the Mooresville area of North Carolina. The lawsuit alleges that Duke Energy disposed of and sold coal ash as structural fill resulting in the contamination of soil, groundwater and Lake Norman. Plaintiffs claim that Duke Energy failed to properly remediate the contamination and continues to pollute, and they assert that the contamination has negatively impacted property values and led to elevated cancer rates and other health issues. The complaint asserts claims for negligence, nuisance, violations of the North Carolina Unfair and Deceptive Trade Practices Act, strict liability for ultra-hazardous activities and trespass. Plaintiffs are seeking unspecified compensatory and punitive damages, injunctive relief to stop further contamination, remediation of contaminated areas and attorneys' fees and costs. The Company is evaluating the complaint and will respond by the court's deadline in March 2025.
Duke Energy Carolinas
NTE Carolinas II, LLC Litigation
In November 2017, Duke Energy Carolinas entered into a standard FERC large generator interconnection agreement (LGIA) with NTE Carolinas II, LLC (NTE), a company that proposed to build a combined-cycle natural gas plant in Rockingham County, North Carolina. In September 2019, Duke Energy Carolinas filed a lawsuit in Mecklenburg County Superior Court against NTE for breach of contract, alleging that NTE's failure to pay benchmark payments for Duke Energy Carolinas' transmission system upgrades required under the interconnection agreement constituted a termination of the interconnection agreement. Duke Energy Carolinas sought a monetary judgment against NTE because NTE failed to make multiple milestone payments. The lawsuit was moved to federal court in North Carolina. NTE filed a motion to dismiss Duke Energy Carolinas’ complaint and brought counterclaims alleging anti-competitive conduct and violations of state and federal statutes. Duke Energy Carolinas filed a motion to dismiss NTE's counterclaims. Both NTE's and Duke Energy Carolinas' motions to dismiss were subsequently denied by the court.
On May 21, 2020, in response to a NTE petition challenging Duke Energy Carolinas' termination of the LGIA, FERC issued a ruling that 1) it has exclusive jurisdiction to determine whether a transmission provider may terminate an LGIA; 2) FERC approval is required to terminate a conforming LGIA if objected to by the interconnection customer; and 3) Duke Energy may not announce the termination of a conforming LGIA unless FERC has approved the termination. FERC's Office of Enforcement also initiated an investigation of Duke Energy Carolinas into matters pertaining to the LGIA. In April 2023, Duke Energy Carolinas received notice from the FERC Office of Enforcement that they have closed their non-public investigation with no further action recommended.
Following completion of discovery, Duke Energy Carolinas filed a motion for summary judgment seeking a ruling in its favor as to some of its affirmative claims against NTE and to all of NTE’s counterclaims. On June 24, 2022, the court issued an order partially granting Duke Energy Carolinas' motion by dismissing NTE's counterclaims that Duke Energy Carolinas engaged in anti-competitive behavior in violation of state and federal statutes. In October 2022, the parties executed a settlement agreement with respect to the remaining breach of contract claims in the litigation and a Stipulation of Dismissal was filed with the court.
In November 2022, NTE filed its Notice of Appeal to the U.S. Court of Appeals for the Fourth Circuit as to the district court's summary judgment ruling in Duke Energy Carolinas' favor on NTE's antitrust and unfair competition claims. Briefing on NTE's appeal was completed in June 2023 and oral argument took place in May 2024. On August 5, 2024, the U.S. Court of Appeals for the Fourth Circuit reversed the district court's grant of summary judgment and remanded the case back to the district court for further proceedings. In August 2024, Duke Energy Carolinas filed a petition for rehearing, which was denied on November 26, 2024. On February 21, 2025, Duke Energy Carolinas filed a petition seeking review by the United States Supreme Court.
Asbestos-related Injuries and Damages Claims
Duke Energy Carolinas has experienced numerous claims for indemnification and medical cost reimbursement related to asbestos exposure. These claims relate to damages for bodily injuries alleged to have arisen from exposure to or use of asbestos in connection with construction and maintenance activities conducted on its electric generation plants prior to 1985.
Duke Energy Carolinas has recognized asbestos-related reserves of $396 million and $423 million at December 31, 2024, and 2023, respectively. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Consolidated Balance Sheets. These reserves are based upon Duke Energy Carolinas' best estimate for current and future asbestos claims through 2044 and are recorded on an undiscounted basis. In light of the uncertainties inherent in a longer-term forecast, management does not believe they can reasonably estimate the indemnity and medical costs that might be incurred after 2044 related to such potential claims. It is possible Duke Energy Carolinas may incur asbestos liabilities in excess of the recorded reserves.
Duke Energy Carolinas has third-party insurance to cover certain losses related to asbestos-related injuries and damages above an aggregate self-insured retention. Receivables for insurance recoveries were $539 million and $572 million at December 31, 2024, and 2023, respectively. These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Consolidated Balance Sheets. Any future payments up to the policy limit will be reimbursed by the third-party insurance carrier. Duke Energy Carolinas is not aware of any uncertainties regarding the legal sufficiency of insurance claims. Duke Energy Carolinas believes the insurance recovery asset is probable of recovery as the insurance carrier continues to have a strong financial strength rating.
The reserve for credit losses for insurance receivables for the asbestos-related injuries and damages is $9 million as of December 31, 2024, and December 31, 2023, for both Duke Energy and Duke Energy Carolinas. The insurance receivable is evaluated based on the risk of default and the historical losses, current conditions and expected conditions around collectability. Management evaluates the risk of default annually based on payment history, credit rating and changes in the risk of default from credit agencies.
Duke Energy Indiana
Coal Ash Insurance Coverage Litigation
In June 2022, Duke Energy Indiana filed a civil action in Indiana Superior Court against various insurance companies seeking declaratory relief with respect to insurance coverage for CCR-related expenses and liabilities covered by third-party liability insurance policies. The insurance policies cover the 1969-1972 and 1984-1985 periods and provide third-party liability insurance for claims and suits alleging property damage, bodily injury and personal injury (or a combination thereof). A trial date has not yet been set.
In June 2023, Duke Energy Indiana and Associated Electric and Gas Insurance Services (AEGIS) reached a confidential settlement, the results of which were not material to Duke Energy, and as a result, AEGIS was dismissed from the litigation in July 2023. Duke Energy Indiana has also reached confidential settlements with other various insurance companies, the results of which were not material. In June 2024, Duke Energy Indiana filed an amended complaint adding several additional insurance companies as defendants to the litigation. The litigation is currently stayed until February 28, 2025, while Duke Energy continues to negotiate with the remaining insurance company defendants.
Other Litigation and Legal Proceedings
The Duke Energy Registrants are involved in other legal, tax and regulatory proceedings arising in the ordinary course of business, some of which involve significant amounts. The Duke Energy Registrants believe the final disposition of these proceedings will not have a material effect on their results of operations, cash flows or financial position. Reserves are classified on the Consolidated Balance Sheets in Other within Other Noncurrent Liabilities and Other within Current Liabilities.
OTHER COMMITMENTS AND CONTINGENCIES
General
As part of their normal business, the Duke Energy Registrants are party to various financial guarantees, performance guarantees and other contractual commitments to extend guarantees of credit and other assistance to various subsidiaries, investees and other third parties. These guarantees involve elements of performance and credit risk, which are not fully recognized on the Consolidated Balance Sheets and have uncapped maximum potential payments. However, the Duke Energy Registrants do not believe these guarantees will have a material effect on their results of operations, cash flows or financial position. See Notes 2 and 8 for more information.
Purchase Obligations
Purchased Power
Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana have ongoing purchased power contracts with other utilities, wholesale marketers, co-generators and qualified facilities. These purchased power contracts generally provide for capacity and energy payments. In addition, Duke Energy Progress and Duke Energy Florida have various contracts to secure transmission rights.
The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases.
  Minimum Purchase Amount at December 31, 2024
Contract
(in millions) Expiration20252026202720282029ThereafterTotal
Duke Energy Progress(a)
2028-2042
$22 $18 $19 $18 $3 $31 $111 
Duke Energy Indiana(b)
2026
33 12 — — — — 45 
(a)    Contracts represent between 18% and 100% of net plant output.
(b)    Share of net plant output varies.
Gas Supply and Capacity Contracts
Duke Energy Ohio and Piedmont routinely enter into long-term natural gas supply commodity and capacity commitments and other agreements that commit future cash flows to acquire services needed in their businesses. These commitments include pipeline and storage capacity contracts and natural gas supply contracts to provide service to customers. Costs arising from the natural gas supply commodity and capacity commitments, while significant, are pass-through costs to customers and are generally fully recoverable through specific fuel rate components operating in conjunction with PGA procedures, and subject to periodic prudence reviews in North Carolina and South Carolina and the Performance Incentive Plan in Tennessee. In the Midwest, these costs are recovered via the Gas Cost Recovery Rate in Ohio or the Gas Cost Adjustment Clause in Kentucky. The time periods for fixed payments under pipeline and storage capacity contracts are up to 18 years. The time periods for fixed payments under natural gas supply contracts is up to three years. The time periods for the natural gas supply purchase commitments is up to six years.
Certain storage and pipeline capacity contracts require the payment of demand charges that are based on rates approved by the FERC in order to maintain rights to access the natural gas storage or pipeline capacity on a firm basis during the contract term. The demand charges that are incurred in each period are recognized in the Consolidated Statements of Operations and Comprehensive Income as part of natural gas purchases and are included in Cost of natural gas.
The following table presents future unconditional purchase obligations under natural gas supply and capacity contracts as of December 31, 2024.
(in millions)20252026202720282029ThereafterTotal
Duke Energy Ohio$104 $75 $71 $69 $65 $554 $938 
Piedmont369 366 322 241 233 695 2,226 
v3.25.0.1
Leases
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Leases LEASES
As part of its operations, Duke Energy leases certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land and office space under various terms and expiration dates. Additionally, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana have finance leases related to firm natural gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain PPAs, which are classified as finance and operating leases.
Duke Energy has certain lease agreements, which include variable lease payments that are based on the usage of an asset. These variable lease payments are not included in the measurement of the ROU assets or operating lease liabilities on the Consolidated Financial Statements.
Certain Duke Energy lease agreements include options for renewal and early termination. The intent to renew a lease varies depending on the lease type and asset. Renewal options that are reasonably certain to be exercised are included in the lease measurements. The decision to terminate a lease early is dependent on various economic factors. No termination options have been included in any of the lease measurements.
In December 2019, Duke Energy Carolinas entered into a sale-leaseback arrangement to construct and occupy an office tower. The lease agreement was evaluated as a sale-leaseback of real estate but did not qualify for sale-leaseback accounting. As a result, the transaction is accounted for as a financing. Duke Energy Carolinas recorded the real estate on the Consolidated Balance Sheets within Property, Plant and Equipment as if it is the legal owner and recognizes depreciation expense over the estimated useful life. In addition, the failed sale-leaseback obligation is reported within Long-Term Debt on the Consolidated Balance Sheets with the monthly lease payments split between interest expense and debt principal.
Piedmont has certain agreements for the construction and transportation of natural gas pipelines to supply Duke Energy Carolinas' natural gas plant needs. Piedmont accounts for these pipeline lateral contracts as sales-type leases since the present value of the sum of the lease payments equals the fair value of the assets. These pipeline lateral assets owned by Piedmont had a current net investment basis of $2 million as of December 31, 2024, and 2023, and a long-term net investment basis of $197 million and $199 million as of December 31, 2024, and 2023, respectively. These assets are classified in Other, within Current Assets and Other Noncurrent Assets, respectively, on Piedmont's Consolidated Balance Sheets. Duke Energy Carolinas accounts for the contracts as finance leases. The activity for these contracts is eliminated in consolidation at Duke Energy.
The following tables present the components of lease expense.
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$275 $66 $173 $82 $91 $12 $23 $2 
Short-term lease expense(a)
7 — 3 1 2 — 1 — 
Variable lease expense(a)
33 2 29 19 10 — 1 1 
Finance lease expense
Amortization of leased assets(b)
113 7 46 38 8 — — — 
Interest on lease liabilities(c)
41 31 44 41 3 — 1 — 
Total finance lease expense154 38 90 79 11 — 1 — 
Total lease expense$469 $106 $295 $181 $114 $12 $26 $3 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$236 $41 $157 $80 $77 $11 $17 $2 
Short-term lease expense(a)
5 — 2 1 1 — 1 — 
Variable lease expense(a)
27 2 22 11 11 — — 1 
Finance lease expense
Amortization of leased assets(b)
160 7 57 35 22 — — — 
Interest on lease liabilities(c)
46 31 45 43 2 — 1 — 
Total finance lease expense206 38 102 78 24 — 1 — 
Total lease expense$474 $81 $283 $170 $113 $11 $19 $3 
(a)    Included in Operations, maintenance and other, except for expense related to barges and railcars which is included in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.
(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.
(c)    Included in Interest Expense on the Consolidated Statements of Operations.
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2025$256 $24 $121 $55 $66 $1 $7 $5 
2026241 21 124 59 65 1 7 1 
2027191 14 97 60 37 1 5 1 
2028153 11 82 59 23 1 3 1 
2029120 10 74 52 22 1 3 — 
Thereafter458 53 307 156 151 4 24 — 
Total operating lease payments1,419 133 805 441 364 9 49 8 
Less: Present value discount
(254)(26)(151)(67)(84)(2)(10)— 
Total operating lease liabilities(a)
$1,165 $107 $654 $374 $280 $7 $39 $8 
(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.
The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2025$86 $38 $91 $80 $11 $1 
202687 38 92 81 11 1 
202782 38 89 81 8 1 
202879 38 87 81 6 1 
202979 38 88 81 7 1 
Thereafter489 351 444 393 51 21 
Total finance lease payments902 541 891 797 94 26 
Less: Amounts representing interest
(332)(271)(310)(282)(28)(16)
Total finance lease liabilities$570 $270 $581 $515 $66 $10 
The following tables contain additional information related to leases.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,148 $98 $625 $348 $277 $6 $37 $4 
FinanceNet property, plant and equipment645 252 620 512 108 — 6 — 
Total lease assets$1,793 $350 $1,245 $860 $385 $6 $43 $4 
Liabilities
Current
OperatingOther current liabilities$208 $20 $97 $42 $55 $1 $6 $1 
FinanceCurrent maturities of long-term debt46 8 48 41 7 — — — 
Noncurrent
OperatingOperating lease liabilities957 87 557 332 225 6 33 7 
FinanceLong-Term Debt524 262 533 474 59 — 10 — 
Total lease liabilities$1,735 $377 $1,235 $889 $346 $7 $49 $8 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,092 $78 $617 $318 $299 $16 $50 $4 
FinanceNet property, plant and equipment687 268 615 552 63 — 6 — 
Total lease assets$1,779 $346 $1,232 $870 $362 $16 $56 $4 
Liabilities
Current
OperatingOther current liabilities$188 $15 $94 $45 $49 $1 $6 $— 
FinanceCurrent maturities of long-term debt115 8 46 38 8 — — — 
Noncurrent
OperatingOperating lease liabilities917 75 544 293 251 16 46 10 
FinanceLong-Term Debt524 269 525 514 11 — 9 — 
Total lease liabilities$1,744 $367 $1,209 $890 $319 $17 $61 $10 
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$250 $24 $122 $57 $65 $1 $8 $1 
Operating cash flows from finance leases41 31 44 41 3 — 1 — 
Financing cash flows from finance leases113 7 46 38 8 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$322 $50 $43 $3 $40 $— $7 $3 
Finance81 1 55 — 55 — 1 — 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$228 $18 $123 $64 $59 $2 $7 $— 
Operating cash flows from finance leases46 31 45 43 2 — 1 — 
Financing cash flows from finance leases160 7 57 35 22 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$286 $14 $92 $1 $91 $2 $6 $2 
Finance36 — — — — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases89981111114
Finance leases1115111015— 20— 
Weighted average discount rate(a)
Operating leases4.3 %4.3 %4.0 %3.9 %4.2 %4.1 %4.0 %3.9 %
Finance leases8.4 %11.5 %8.9 %9.2 %5.9 %— %11.7 %— %
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases9101091113134
Finance leases1116111118— 223
Weighted average discount rate(a)
Operating leases3.1 %4.0 %3.8 %3.6 %4.0 %4.2 %3.9 %2.4 %
Finance leases8.5 %11.5 %9.1 %9.2 %7.6 %— %11.9 %5.4 %
(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.
Leases LEASES
As part of its operations, Duke Energy leases certain aircraft, space on communication towers, industrial equipment, fleet vehicles, fuel transportation (barges and railcars), land and office space under various terms and expiration dates. Additionally, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Indiana have finance leases related to firm natural gas pipeline transportation capacity. Duke Energy Progress and Duke Energy Florida have entered into certain PPAs, which are classified as finance and operating leases.
Duke Energy has certain lease agreements, which include variable lease payments that are based on the usage of an asset. These variable lease payments are not included in the measurement of the ROU assets or operating lease liabilities on the Consolidated Financial Statements.
Certain Duke Energy lease agreements include options for renewal and early termination. The intent to renew a lease varies depending on the lease type and asset. Renewal options that are reasonably certain to be exercised are included in the lease measurements. The decision to terminate a lease early is dependent on various economic factors. No termination options have been included in any of the lease measurements.
In December 2019, Duke Energy Carolinas entered into a sale-leaseback arrangement to construct and occupy an office tower. The lease agreement was evaluated as a sale-leaseback of real estate but did not qualify for sale-leaseback accounting. As a result, the transaction is accounted for as a financing. Duke Energy Carolinas recorded the real estate on the Consolidated Balance Sheets within Property, Plant and Equipment as if it is the legal owner and recognizes depreciation expense over the estimated useful life. In addition, the failed sale-leaseback obligation is reported within Long-Term Debt on the Consolidated Balance Sheets with the monthly lease payments split between interest expense and debt principal.
Piedmont has certain agreements for the construction and transportation of natural gas pipelines to supply Duke Energy Carolinas' natural gas plant needs. Piedmont accounts for these pipeline lateral contracts as sales-type leases since the present value of the sum of the lease payments equals the fair value of the assets. These pipeline lateral assets owned by Piedmont had a current net investment basis of $2 million as of December 31, 2024, and 2023, and a long-term net investment basis of $197 million and $199 million as of December 31, 2024, and 2023, respectively. These assets are classified in Other, within Current Assets and Other Noncurrent Assets, respectively, on Piedmont's Consolidated Balance Sheets. Duke Energy Carolinas accounts for the contracts as finance leases. The activity for these contracts is eliminated in consolidation at Duke Energy.
The following tables present the components of lease expense.
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$275 $66 $173 $82 $91 $12 $23 $2 
Short-term lease expense(a)
7 — 3 1 2 — 1 — 
Variable lease expense(a)
33 2 29 19 10 — 1 1 
Finance lease expense
Amortization of leased assets(b)
113 7 46 38 8 — — — 
Interest on lease liabilities(c)
41 31 44 41 3 — 1 — 
Total finance lease expense154 38 90 79 11 — 1 — 
Total lease expense$469 $106 $295 $181 $114 $12 $26 $3 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$236 $41 $157 $80 $77 $11 $17 $2 
Short-term lease expense(a)
5 — 2 1 1 — 1 — 
Variable lease expense(a)
27 2 22 11 11 — — 1 
Finance lease expense
Amortization of leased assets(b)
160 7 57 35 22 — — — 
Interest on lease liabilities(c)
46 31 45 43 2 — 1 — 
Total finance lease expense206 38 102 78 24 — 1 — 
Total lease expense$474 $81 $283 $170 $113 $11 $19 $3 
(a)    Included in Operations, maintenance and other, except for expense related to barges and railcars which is included in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.
(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.
(c)    Included in Interest Expense on the Consolidated Statements of Operations.
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2025$256 $24 $121 $55 $66 $1 $7 $5 
2026241 21 124 59 65 1 7 1 
2027191 14 97 60 37 1 5 1 
2028153 11 82 59 23 1 3 1 
2029120 10 74 52 22 1 3 — 
Thereafter458 53 307 156 151 4 24 — 
Total operating lease payments1,419 133 805 441 364 9 49 8 
Less: Present value discount
(254)(26)(151)(67)(84)(2)(10)— 
Total operating lease liabilities(a)
$1,165 $107 $654 $374 $280 $7 $39 $8 
(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.
The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2025$86 $38 $91 $80 $11 $1 
202687 38 92 81 11 1 
202782 38 89 81 8 1 
202879 38 87 81 6 1 
202979 38 88 81 7 1 
Thereafter489 351 444 393 51 21 
Total finance lease payments902 541 891 797 94 26 
Less: Amounts representing interest
(332)(271)(310)(282)(28)(16)
Total finance lease liabilities$570 $270 $581 $515 $66 $10 
The following tables contain additional information related to leases.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,148 $98 $625 $348 $277 $6 $37 $4 
FinanceNet property, plant and equipment645 252 620 512 108 — 6 — 
Total lease assets$1,793 $350 $1,245 $860 $385 $6 $43 $4 
Liabilities
Current
OperatingOther current liabilities$208 $20 $97 $42 $55 $1 $6 $1 
FinanceCurrent maturities of long-term debt46 8 48 41 7 — — — 
Noncurrent
OperatingOperating lease liabilities957 87 557 332 225 6 33 7 
FinanceLong-Term Debt524 262 533 474 59 — 10 — 
Total lease liabilities$1,735 $377 $1,235 $889 $346 $7 $49 $8 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,092 $78 $617 $318 $299 $16 $50 $4 
FinanceNet property, plant and equipment687 268 615 552 63 — 6 — 
Total lease assets$1,779 $346 $1,232 $870 $362 $16 $56 $4 
Liabilities
Current
OperatingOther current liabilities$188 $15 $94 $45 $49 $1 $6 $— 
FinanceCurrent maturities of long-term debt115 8 46 38 8 — — — 
Noncurrent
OperatingOperating lease liabilities917 75 544 293 251 16 46 10 
FinanceLong-Term Debt524 269 525 514 11 — 9 — 
Total lease liabilities$1,744 $367 $1,209 $890 $319 $17 $61 $10 
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$250 $24 $122 $57 $65 $1 $8 $1 
Operating cash flows from finance leases41 31 44 41 3 — 1 — 
Financing cash flows from finance leases113 7 46 38 8 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$322 $50 $43 $3 $40 $— $7 $3 
Finance81 1 55 — 55 — 1 — 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$228 $18 $123 $64 $59 $2 $7 $— 
Operating cash flows from finance leases46 31 45 43 2 — 1 — 
Financing cash flows from finance leases160 7 57 35 22 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$286 $14 $92 $1 $91 $2 $6 $2 
Finance36 — — — — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases89981111114
Finance leases1115111015— 20— 
Weighted average discount rate(a)
Operating leases4.3 %4.3 %4.0 %3.9 %4.2 %4.1 %4.0 %3.9 %
Finance leases8.4 %11.5 %8.9 %9.2 %5.9 %— %11.7 %— %
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases9101091113134
Finance leases1116111118— 223
Weighted average discount rate(a)
Operating leases3.1 %4.0 %3.8 %3.6 %4.0 %4.2 %3.9 %2.4 %
Finance leases8.5 %11.5 %9.1 %9.2 %7.6 %— %11.9 %5.4 %
(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.
v3.25.0.1
Debt and Credit Facilities
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
Summary of Debt and Related Terms
The following tables summarize outstanding debt.
 December 31, 2024
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2025-2082
4.53 %$34,283 $1,605 $2,085 $185 $250 $1,380 $390 $4,030 
Secured debt, maturing 2025-2052
3.75 %3,672 1,463 2,147 1,269 879 — — — 
First mortgage bonds, maturing 2025-2074(a)
4.24 %39,842 13,955 19,223 9,974 9,247 2,722 3,937 — 
Finance leases, maturing 2027-2054
570 270 581 515 66 — 10 — 
Tax-exempt bonds, maturing 2027-2046(b)
3.85 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(c)
4.67 %4,213 — — — — — — — 
Money pool/intercompany borrowings — 300 1,227 761 467 189 160 739 
Fair value hedge carrying value adjustment  (82)— — — — — — — 
Unamortized debt discount and premium, net(d)
 845 (20)(44)(24)(19)(23)(16)(8)
Unamortized debt issuance costs(e)
(401)(83)(146)(65)(76)(18)(25)(19)
Total debt 4.37 %$84,273 $17,490 $25,573 $13,115 $10,814 $4,327 $4,808 $4,742 
Short-term notes payable and commercial paper  (3,584)— — — — — — — 
Short-term money pool/intercompany borrowings — — (1,077)(611)(466)(162)(10)(739)
Current maturities of long-term debt(f)
 (4,349)(521)(1,517)(983)(534)(245)(4)(205)
Total long-term debt(f)
$76,340 $16,969 $22,979 $11,521 $9,814 $3,920 $4,794 $3,798 
(a)Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(c)Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 13 days.
(d)Duke Energy includes $925 million and $56 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(e)Duke Energy includes $23 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(f)Refer to Note 18 for additional information on amounts from consolidated VIEs.
 December 31, 2023
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2024-2082
4.36 %$30,435 $1,150 $1,800 $— $150 $1,155 $393 $3,695 
Secured debt, maturing 2024-2052
4.23 %4,202 1,441 2,379 1,121 1,258 — — — 
First mortgage bonds, maturing 2025-2073(a)
4.18 %37,443 12,955 18,550 9,475 9,075 2,300 3,638 — 
Finance leases, maturing 2024-2051(b)
639 277 571 552 19 — 9 — 
Tax-exempt bonds, maturing 2027-2046(c)
3.89 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(d)
5.58 %4,925 — — — — — — — 
Money pool/intercompany borrowings— 968 1,193 1,041 152 638 407 538 
Fair value hedge carrying value adjustment32 — — — — — — — 
Unamortized debt discount and premium, net(e)
916 (29)(46)(24)(20)(24)(16)(8)
Unamortized debt issuance costs(f)
(383)(82)(145)(60)(81)(15)(25)(19)
Total debt 4.35 %$79,540 $16,680 $24,802 $12,605 $10,553 $4,131 $4,758 $4,206 
Short-term notes payable and commercial paper  (4,288)— — — — — — — 
Short-term money pool/intercompany borrowings — (668)(1,043)(891)(152)(613)(256)(538)
Current maturities of long-term debt(g)
 (2,800)(19)(661)(72)(589)— (4)(40)
Total long-term debt(g)
$72,452 $15,993 $23,098 $11,642 $9,812 $3,518 $4,498 $3,628 
(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)    Duke Energy includes $63 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.
(c)    Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(d)    Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 23 days.
(e)    Duke Energy includes $992 million and $69 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)    Duke Energy includes $25 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(g)     Refer to Note 18 for additional information on amounts from consolidated VIEs.
Current Maturities of Long-Term Debt
The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions)Maturity DateInterest RateDecember 31, 2024
Unsecured Debt
Duke Energy (Parent)April 20253.364 %$420 
Duke Energy (Parent)April 20253.950 %250 
Duke Energy OhioJune 20256.900 %150 
Duke Energy (Parent)September 20250.900 %650 
Piedmont
September 20253.600 %150 
Duke Energy Florida(a)
October 20255.303 %100 
Duke Energy Ohio(b)
October 20253.230 %95 
Duke Energy (Parent)December 20255.000 %500 
Secured Debt
Duke Energy Carolinas(a)
January 2025
5.378 %305 
Duke Energy Carolinas(a)
January 2025
5.423 %195 
Duke Energy Progress(a)
April 2025
5.456 %240 
Duke Energy Progress(a)
April 2025
5.467 %160 
First Mortgage Bonds
Duke Energy Florida(a)(c)
October 2073
4.910 %200 
Duke Energy Florida(a)(c)
April 20744.910 %173 
Duke Energy Progress
August 20253.250 %500 
Other(d)
261 
Current maturities of long-term debt$4,349 
(a)    Debt has a floating interest rate. The $500 million in Duke Energy Carolinas borrowings due January 2025 were repaid in conjunction with the termination of the DERF accounts receivable securitization facility in January 2025.
(b)     Current maturity relates to Duke Energy Kentucky.
(c)    These first mortgage bonds are classified as Current maturities of long-term debt on the Consolidated Balance Sheets based on terms of the indentures, which could require repayment in less than 12 months if exercised by the bondholders.
(d)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
Maturities and Call Options
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy(a)
CarolinasEnergyProgressFloridaOhioIndianaPiedmont
2025$4,349 $521 $1,525 $984 $541 $245 $4 $205 
20264,925 1,078 539 470 69 45 4 40 
20273,082 26 807 89 718 77 27 300 
20283,937 976 1,411 593 819 40 7 — 
20294,971 778 1,618 847 771 530 155 660 
Thereafter58,976 14,214 18,786 9,610 7,525 3,270 4,643 2,825 
Total long-term debt, including current maturities$80,240 $17,593 $24,686 $12,593 $10,443 $4,207 $4,840 $4,030 
(a)    Excludes $1,004 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.
The Duke Energy Registrants have the ability under certain debt facilities to call and repay the obligation prior to its scheduled maturity. Therefore, the actual timing of future cash repayments could be materially different than as presented above.
Short-Term Obligations Classified as Long-Term Debt
Tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder and certain commercial paper issuances and money pool borrowings are classified as Long-Term Debt on the Consolidated Balance Sheets. These tax-exempt bonds, commercial paper issuances and money pool borrowings, which are short-term obligations by nature, are classified as long-term due to Duke Energy’s intent and ability to utilize such borrowings as long-term financing. As Duke Energy’s Master Credit Facility and other bilateral letter of credit agreements have non-cancelable terms in excess of one year as of the balance sheet date, Duke Energy has the ability to refinance these short-term obligations on a long-term basis. The following tables show short-term obligations classified as long-term debt.
 Balance at December 31, 2024 and 2023
DukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasProgressOhioIndiana
Tax-exempt bonds $312 $— $— $27 $285 
Commercial paper(a)
625 300 150 25 150 
Total $937 $300 $150 $52 $435 
(a)    Progress Energy amounts are equal to Duke Energy Progress amounts.
Summary of Significant Debt Issuances
In January 2025, Duke Energy Carolinas issued $1.1 billion of first mortgage bonds. The issuance consisted of a $400 million, five-year tranche at 4.85% and a $700 million, 10-year tranche at 5.25%. The net proceeds were used to pay off the $500 million DERF accounts receivable securitization facility maturing in January 2025, to pay off short-term debt and for general company purposes.
The following tables summarize significant debt issuances (in millions).
Year Ended December 31, 2024
DukeDukeDukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Unsecured Debt
January 2024(a)
January 2027
4.850 %$600 $600 $— $— $— $— $— $— 
January 2024(a)
January 2029
4.850 %650 650 — — — — — — 
April 2024(e)
April 2031
5.648 %815 815 — — — — — — 
June 2024(d)
June 2034
5.450 %750 750 — — — — — — 
June 2024(d)
June 2054
5.800 %750 750 — — — — — — 
June 2024(h)
July 2031
5.900 %80 — — — — 80 — — 
June 2024(h)
July 2034
6.000 %95 — — — — 95 — — 
June 2024(h)
July 2039
6.170 %50 — — — — 50 — — 
August 2024(d)
February 2035
5.100 %375 — — — — — — 375 
August 2024(i)
September 2054
6.450 %1,000 1,000 — — — — — — 
Secured Debt
April 2024(f)
March 2044
5.404 %177 — — 177 — — — — 
First Mortgage Bonds
January 2024(b)
January 2034
4.850 %$575 $— $575 $— — $— $— $— 
January 2024(b)
January 2054
5.400 %425 — 425 — — — — — 
March 2024(b)
March 2034
5.250 %300 — — — — — 300 — 
March 2024(c)
March 2034
5.100 %500 — — 500 — — — — 
March 2024(d)
March 2054
5.550 %425 — — — — 425 — — 
April 2024(g)
April 2074
4.910 %173 — — — 173 — — — 
Total issuances$7,740 $4,565 $1,000 $677 $173 $650 $300 $375 
(a)Proceeds were used to repay the remaining $1 billion outstanding on Duke Energy (Parent)'s variable rate Term Loan Facility due March 2024, pay down a portion of short-term debt and for general corporate purposes. Duke Energy (Parent)'s Term Loan Facility was terminated in March 2024 in conjunction with the payoff of remaining borrowings.
(b)Proceeds were used to pay down a portion of short-term debt and for general company purposes.
(c)Proceeds were used to fund eligible green energy projects, pay down a portion of short-term debt and for general company purposes.
(d)Proceeds were used to pay down a portion of short-term debt and for general corporate purposes.
(e)In April 2024, Duke Energy issued 750 million euros aggregate principal amount of 3.75% senior notes due April 2031. Duke Energy's obligations under its euro-denominated fixed-rate notes were effectively converted to fixed-rate U.S. dollars at issuance through cross-currency swaps, mitigating foreign currency exchange risk associated with the interest and principal payments. The $815 million equivalent in U.S. dollars were used to repay a portion of a $1 billion debt maturity due April 2024, pay down short-term debt and for general corporate purposes. See Note 15 for additional information.
(f)Proceeds were used to finance the South Carolina portion of restoration expenditures related to the following storms: Pax, Ulysses, Matthew, Florence, Michael, Dorian, Izzy and Jasper. See Notes 4 and 18 for more information.
(g)Debt has a floating interest rate. Proceeds were used to pay down a portion of the DEFR accounts receivable securitization facility due in April 2024, and for general company purposes. See Note 18 for more information.
(h)Debt issued by Duke Energy Kentucky with proceeds used to pay down a portion of short-term debt and for general corporate purposes.
(i)Duke Energy issued $1 billion of fixed-to-fixed reset rate junior subordinated debentures (the debentures) with proceeds used to redeem Duke Energy’s outstanding Series B Preferred Stock and for general corporate purposes. The debentures will bear interest at 6.45% until September 1, 2034, and thereafter the interest rate will reset every five years to the five-year U.S. Treasury rate plus a spread of 2.588%. The debentures have early redemption options and are callable on or after June 2034 for 100% of the principal plus accrued interest. See Note 20 for additional information.
Year Ended December 31, 2023
DukeDukeDukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Unsecured Debt
April 2023(a)
April 20264.125 %$1,725 $1,725 $— $— $— $— $— $— 
June 2023(b)
June 20335.400 %350 — — — — — — 350 
September 2023(c)
September 2033
5.750 %600 600 — — — — — — 
September 2023(c)
September 2053
6.100 %750 750 — — — — — — 
First Mortgage Bonds
January 2023(d)
January 20334.950 %900 — 900 — — — — — 
January 2023(d)
January 20535.350 %900 — 900 — — — — — 
March 2023(e)
March 20335.250 %500 — — 500 — — — — 
March 2023(e)
March 20535.350 %500 — — 500 — — — — 
March 2023(f)
April 20335.250 %375 — — — — 375 — — 
March 2023(f)
April 20535.650 %375 — — — — 375 — — 
March 2023(g)
April 20535.400 %500 — — — — — 500 — 
June 2023(h)
January 20334.950 %350 — 350 — — — — — 
June 2023(h)
January 20545.400 %500 — 500 — — — — — 
September 2023(h)
October 2073
4.910 %200 — — — 200 — — — 
November 2023(i)
November 2033
5.875 %600 — — — 600 — — — 
November 2023(i)
November 2053
6.200 %700 — — — 700 — — — 
Total issuances$9,825 $3,075 $2,650 $1,000 $1,500 $750 $500 $350 
(a)See "Duke Energy (Parent) Convertible Senior Notes" below for additional information.
(b)Debt issued to repay $45 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(c)Debt issued to repay $400 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(d)Debt issued to repay $1 billion of maturities due March 2023, to pay down a portion of short-term debt and for general company purposes.
(e)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of short-term debt and for general company purposes.
(f)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of the $100 million Duke Energy Ohio Term Loan due October 2023, to repay a portion of short-term debt and for general corporate purposes.
(g)Debt issued to repay the $300 million Duke Energy Indiana Term Loan due October 2023, to pay down a portion of short-term debt and for general company purposes.
(h)Debt has a floating interest rate and was issued to pay down a portion of short-term debt and for general company purposes.
(i)Debt issued to repay the $800 million Duke Energy Florida Term Loan due April 2024, to pay down a portion of short-term debt and for general company purposes.
Duke Energy (Parent) Convertible Senior Notes
In April 2023, Duke Energy (Parent) completed the sale of $1.7 billion 4.125% Convertible Senior Notes due April 2026 (convertible notes). The convertible notes are senior unsecured obligations of Duke Energy, and will mature on April 15, 2026, unless earlier converted or repurchased in accordance with their terms. The convertible notes bear interest at a fixed rate of 4.125% per year, payable semiannually in arrears on April 15 and October 15 of each year, beginning on October 15, 2023. Proceeds were used to repay a portion of outstanding commercial paper and for general corporate purposes.
Prior to the close of business on the business day immediately preceding January 15, 2026, the convertible notes will be convertible at the option of the holders when the following conditions are met:
•during any calendar quarter commencing after the calendar quarter ending on June 30, 2023, (and only during such calendar quarter) if the last reported sale price of Duke Energy common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or equal to 130% of the conversion price on each applicable trading day;
•during the five consecutive business day period after any 10 consecutive trading day period (the measurement period) in which the trading price, as defined, per $1,000 principal amount of notes for each trading day of the measurement period was less than 98% of the product of the last reported sale price of Duke Energy common stock and the conversion rate on each such trading day; or
•upon the occurrence of specified corporate events described in the indenture agreement.
On or after January 15, 2026, until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the convertible notes may convert all or any portion of their convertible notes at their option at any time at the conversion rate then in effect, irrespective of these conditions. Duke Energy will settle conversions of the convertible notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of Duke Energy's common stock, $0.001 par value per share, or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the convertible notes being converted.
The conversion rate for the convertible notes is initially 8.4131 shares of Duke Energy's common stock per $1,000 principal amount of convertible notes. The initial conversion price of the convertible notes represents a premium of approximately 25% over the last reported sale price of Duke Energy’s common stock on the NYSE on April 3, 2023. The conversion rate and the corresponding conversion price will not be adjusted for any accrued and unpaid interest but will be subject to adjustment in some instances, such as stock splits or share combinations, certain distributions to common stockholders, or tender offers at off-market rates. The changes in the conversion rates are intended to make convertible note holders whole for changes in the fair value of Duke Energy common stock resulting from such events. Duke Energy may not redeem the convertible notes prior to the maturity date.
Duke Energy issued the convertible notes pursuant to an indenture, dated as of April 6, 2023, by and between Duke Energy and The Bank of New York Mellon Trust Company, N.A., as trustee. The terms of the convertible notes include customary fundamental change provisions that require repayment of the notes with interest upon certain events, such as a stockholder approved plan of liquidation or if Duke Energy's common stock ceases to be listed on the NYSE.
AVAILABLE CREDIT FACILITIES
Master Credit Facility
In March 2024, Duke Energy extended the termination date of its existing $9 billion Master Credit Facility to March 2029. The Duke Energy Registrants, excluding Progress Energy, have borrowing capacity under the Master Credit Facility up to a specified sublimit for each borrower. Duke Energy has the unilateral ability at any time to increase or decrease the borrowing sublimits of each borrower, subject to a maximum sublimit for each borrower. The amount available under the Master Credit Facility has been reduced to backstop issuances of commercial paper, certain letters of credit and variable-rate demand tax-exempt bonds that may be put to the Duke Energy Registrants at the option of the holder. An amendment in conjunction with the issuance of the Convertible Senior Notes due April 2026 clarifies that payments due as a result of a conversion of a convertible note would not constitute an event of default.
The table below includes borrowing sublimits and available capacity under these credit facilities.
 December 31, 2024
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions) Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,275 $1,400 $1,500 $875 $1,050 $950 $950 
Reduction to backstop issuances
Commercial paper(b)
(3,143)(608)(300)(736)(448)(182)(160)(709)
Outstanding letters of credit (18)(6)(4)(1)(7)— — — 
Tax-exempt bonds (81)— — — — — (81)— 
Available capacity $5,758 $1,661 $1,096 $763 $420 $868 $709 $241 
(a)    Represents the sublimit of each borrower.
(b)    Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.
Duke Energy (Parent) Term Loan Facility
Duke Energy (Parent) had a $1 billion revolving credit facility, which was terminated in March 2022 (Three-Year Revolving Credit Facility). In March 2022, Duke Energy (Parent) entered into a Term Loan Credit Facility (facility) with commitments totaling $1.4 billion maturing March 2024. Borrowings under the facility were used to repay amounts drawn under the Three-Year Revolving Credit Facility prior to its termination and for general corporate purposes, including repayment of a portion of Duke Energy's outstanding commercial paper. In December 2022, Duke Energy (Parent) repaid $400 million of the facility. In January 2024, Duke Energy (Parent) repaid the remaining $1 billion outstanding on the facility, which was classified as Current maturities of long-term debt on Duke Energy's Consolidated Balance Sheets as of December 31, 2023.
In March 2024, Duke Energy (Parent) entered into a 364-day term loan facility with commitments totaling $700 million. In April 2024, $500 million was drawn under the facility with borrowings used for general corporate purposes. During the second quarter of 2024, Duke Energy (Parent) terminated the facility and repaid the $500 million in outstanding borrowings.
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida Term Loan Facilities
In November 2024, Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida entered into term loan facilities intended to meet incremental financing needs resulting from expenditures for the restoration of service and rebuilding of infrastructure related to hurricanes Debby, Helene and Milton as described in Note 4. Duke Energy Carolinas and Duke Energy Progress entered into two-year term loan facilities with commitments totaling $700 million and $250 million, respectively. Duke Energy Florida entered into a 364-day term loan facility with commitments totaling $800 million. Amounts may be drawn for six months from the Duke Energy Carolinas and Duke Energy Progress term loan facilities and for four months from the Duke Energy Florida term loan facility. Borrowings from the term loan facilities can be prepaid at any time and may be used to fund system restoration expenses and for general corporate purposes. Additionally, the Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida term loan facilities may be increased by $300 million, $150 million and $400 million, respectively.
Through December 2024, $455 million and $185 million were drawn under the term loan facilities for Duke Energy Carolinas and Duke Energy Progress, respectively, which were both classified as Long-Term Debt on the Consolidated Balance Sheets as of December 31, 2024. Through December 2024, $100 million was drawn under the term loan facility for Duke Energy Florida, which was classified as Current maturities of long-term debt on the Consolidated Balance Sheets as of December 31, 2024. Additionally, in January and February 2025, an additional $145 million, $65 million, and $700 million were drawn under the term loan facilities for Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively.
Other Debt Matters
In September 2022, Duke Energy filed a Form S-3 with the SEC. Under this Form S-3, which is uncapped, the Duke Energy Registrants, excluding Progress Energy, may issue debt and other securities, including preferred stock, in the future at amounts, prices and with terms to be determined at the time of future offerings. The registration statement was filed to replace a similar prior filing upon expiration of its three-year term and also allows for the issuance of common and preferred stock by Duke Energy.
Also in September 2022, to replace another similar prior filing, Duke Energy filed an effective Form S-3 with the SEC to sell up to $4 billion of variable denomination floating-rate demand notes, called PremierNotes. The Form S-3 states that no more than $2 billion of the notes will be outstanding at any particular time. The notes are offered on a continuous basis and bear interest at a floating rate per annum determined by the Duke Energy PremierNotes Committee, or its designee, on a weekly basis. The interest rate payable on notes held by an investor may vary based on the principal amount of the investment. The notes have no stated maturity date, are non-transferable and may be redeemed in whole or in part by Duke Energy or at the investor’s option at any time. The balance as of December 31, 2024, and 2023, was $1,070 million and $985 million, respectively. The notes are short-term debt obligations of Duke Energy and are reflected as Notes payable and commercial paper on Duke Energy’s Consolidated Balance Sheets.
Money Pool and Intercompany Credit Agreements
The Subsidiary Registrants, excluding Progress Energy, are eligible to receive support for their short-term borrowing needs through participation with Duke Energy and certain of its subsidiaries in a money pool arrangement. Under this arrangement, those companies with short-term funds may provide short-term loans to affiliates participating in this arrangement. The money pool is structured such that the Subsidiary Registrants, excluding Progress Energy, separately manage their cash needs and working capital requirements. Accordingly, there is no net settlement of receivables and payables between money pool participants. Duke Energy (Parent) may loan funds to its participating subsidiaries, but may not borrow funds through the money pool. Accordingly, as the money pool activity is between Duke Energy and its subsidiaries, all money pool balances are eliminated within Duke Energy’s Consolidated Balance Sheets.
Money pool receivable balances are reflected within Notes receivable from affiliated companies on the Subsidiary Registrants’ Consolidated Balance Sheets. Money pool payable balances are reflected within either Notes payable to affiliated companies or Long-Term Debt Payable to Affiliated Companies on the Subsidiary Registrants’ Consolidated Balance Sheets.
In March 2022, Progress Energy closed a revolving credit agreement with Duke Energy (Parent), which allowed up to $2.5 billion intercompany borrowings.
Restrictive Debt Covenants
The Duke Energy Registrants’ debt and credit agreements contain various financial and other covenants. Duke Energy's Master Credit Facility contains a covenant requiring the debt-to-total capitalization ratio not to exceed 65% for each borrower, excluding Piedmont, and 70% for Piedmont. Failure to meet those covenants beyond applicable grace periods could result in accelerated due dates and/or termination of the agreements. As of December 31, 2024, each of the Duke Energy Registrants were in compliance with all covenants related to their debt agreements. In addition, some credit agreements may allow for acceleration of payments or termination of the agreements due to nonpayment, or acceleration of other significant indebtedness of the borrower or some of its subsidiaries. None of the debt or credit agreements contain material adverse change clauses.
Other Loans
As of December 31, 2024, and 2023, Duke Energy had loans outstanding of $903 million, including $32 million at Duke Energy Progress, and $873 million, including $32 million at Duke Energy Progress, respectively, against the cash surrender value of life insurance policies it owns on the lives of its executives. The amounts outstanding were carried as a reduction of the related cash surrender value that is included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
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Guarantees and Indemnifications
 12 Months Ended
Dec. 31, 2024
Guarantees [Abstract]  
Guarantees and Indemnifications GUARANTEES AND INDEMNIFICATIONS
Duke Energy has various financial and performance guarantees and indemnifications with non-consolidated entities, which are issued in the normal course of business. As discussed below, these contracts include performance guarantees, standby letters of credit, debt guarantees and indemnifications and include guarantees and indemnifications related to Commercial Renewables Disposal Groups as described in Note 2. Duke Energy enters into these arrangements to facilitate commercial transactions with third parties by enhancing the value of the transaction to the third party. At December 31, 2024, Duke Energy does not believe conditions are likely for significant performance under these guarantees. To the extent liabilities are incurred as a result of the activities covered by the guarantees, such liabilities are included on the accompanying Consolidated Balance Sheets.
On January 2, 2007, Duke Energy completed the spin-off of its previously wholly owned natural gas businesses to shareholders. Guarantees issued by Duke Energy or its affiliates, or assigned to Duke Energy prior to the spin-off, remained with Duke Energy subsequent to the spin-off. Guarantees issued by Spectra Energy Capital, LLC (Spectra Capital) or its affiliates prior to the spin-off remained with Spectra Capital subsequent to the spin-off, except for guarantees that were later assigned to Duke Energy. Duke Energy has indemnified Spectra Capital against any losses incurred under certain of the guarantee obligations that remain with Spectra Capital. At December 31, 2024, the maximum potential amount of future payments associated with these guarantees were $25 million, the majority of which expire by 2028.
In addition to the Spectra Capital guarantee above, Duke Energy has issued performance guarantees to customers and other third parties that guarantee the payment and performance of other parties, including certain non-wholly owned entities, as well as guarantees of debt of certain non-consolidated entities. If such entities were to default on payments or performance, Duke Energy would be required under the guarantees to make payments on the obligations of these entities. The maximum potential amount of future payments required under these guarantees that have capped maximums as of December 31, 2024, was $26 million of which all expire between 2025 and 2030. Additionally, certain guarantees that expire in 2025 have uncapped maximum potential payments; however, Duke Energy does not believe these guarantees will have a material effect on its results of operations, cash flows or financial position.
Duke Energy uses bank-issued standby letters of credit to secure the performance of wholly owned and non-wholly owned entities to a third party or customer. Under these arrangements, Duke Energy has payment obligations to the issuing bank that are triggered by a draw by the third party or customer due to the failure of the wholly owned or non-wholly owned entity to perform according to the terms of its underlying contract. At December 31, 2024, Duke Energy had issued a total of $339 million in letters of credit, which expire between 2025 and 2027. There are no unused amounts under these letters of credit.
Duke Energy recognized $2 million as of both December 31, 2024, and 2023, in Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets, for the guarantees discussed above. As current estimates change, additional losses related to guarantees and indemnifications to third parties, which could be material, may be recorded by the Duke Energy Registrants in the future.
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Joint Ownership of Generating and Transmission Facilities
 12 Months Ended
Dec. 31, 2024
Joint Ownership Of Generating And Transmission Facilities [Abstract]  
Joint Ownership of Generating and Transmission Facilities JOINT OWNERSHIP OF GENERATING AND TRANSMISSION FACILITIES
The Duke Energy Registrants maintain ownership interests in certain jointly owned generating and transmission facilities and are entitled to a share of the generating capacity and output of each unit equal to their respective ownership interests. The Duke Energy Registrants pay their ownership share of additional construction costs, fuel inventory purchases and operating expenses. The Duke Energy Registrants' share of revenues and operating costs of the jointly owned facilities is included within the corresponding line in the Consolidated Statements of Operations. Each participant in the jointly owned facilities must provide its own financing.
The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the EU&I segment.
 December 31, 2024
Construction
OwnershipProperty, PlantAccumulatedWork in
(in millions except for ownership interest)Interestand EquipmentDepreciationProgress
Duke Energy Carolinas     
Catawba (units 1 and 2)(a)
19.25 %$1,047 $594 $30 
W.S. Lee CC(b)
87.27 %654 118 6 
Duke Energy Indiana     
Gibson (unit 5)(c)
50.05 %400 266 5 
Vermillion(d)
62.50 %184 124 — 
Transmission and local facilities(c)
Various7,771 1,654 222 
(a)    Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and PMPA.
(b)    Jointly owned with NCEMC.
(c)    Jointly owned with WVPA and IMPA.
(d)    Jointly owned with WVPA.
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Asset Retirement Obligations
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Asset Retirement Obligations ASSET RETIREMENT OBLIGATIONS
Duke Energy records an ARO when it has a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Certain assets of the Duke Energy Registrants have an indeterminate life, such as transmission and distribution facilities, and thus the fair value of the retirement obligation is not reasonably estimable. A liability for these AROs will be recorded when a fair value is determinable.
The Duke Energy Registrants’ regulated operations accrue costs of removal for property that does not have an associated legal retirement obligation based on regulatory orders from state commissions. These costs of removal are recorded as a regulatory liability in accordance with regulatory accounting treatment. The amount spent may be higher than the amount accrued and result in a net asset. See Note 4 for the estimated cost of removal without an associated legal retirement obligation, which are included in Regulatory assets or Regulatory liabilities, as appropriate, on the Consolidated Balance Sheets.
The following table presents the AROs recorded on the Consolidated Balance Sheets.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities
$4,493 $2,050 $2,425 $2,318 $107 $— $— $— 
Closure of ash impoundments5,173 1,867 1,993 1,975 18 72 1,241 — 
Other326 73 130 41 89 67 27 29 
Total asset retirement obligation$9,992 $3,990 $4,548 $4,334 $214 $139 $1,268 $29 
Less: Current portion650 247 231 230 1 8 164 — 
Total noncurrent asset retirement obligation$9,342 $3,743 $4,317 $4,104 $213 $131 $1,104 $29 
Nuclear Decommissioning Liability
AROs related to nuclear decommissioning are based on site-specific cost studies. The NCUC and the PSCSC require Duke Energy Carolinas and Duke Energy Progress to update cost estimates for decommissioning their nuclear plants every five years. The nuclear decommissioning liabilities are assessed and updated based on changes in cash flows provided in new studies as well as annual assessments to evaluate whether any indicators suggest a change in the estimate of the ARO is necessary.
The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2023 or 2024 dollars, depending on the year of the cost study, and include costs to decommission plant components not subject to radioactive contamination.
Decommissioning
(in millions)
Costs
Year of Cost Study
Duke Energy$9,031 
2023 or 2024
Duke Energy Carolinas(a)
4,439 2023
Progress Energy
4,592 2024
Duke Energy Progress(b)
4,477 2024
Duke Energy Florida(c)
115 N/A
(a)    Decommissioning costs for Duke Energy Carolinas reflect its ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. Duke Energy Carolinas' site-specific nuclear decommissioning cost study and a funding study were filed with the NCUC and PSCSC in 2024.
(b)    Duke Energy Progress' site-specific nuclear decommissioning cost study was filed with the NCUC and PSCSC in February 2025. An updated funding study will be completed and filed with the NCUC and PSCSC in 2025.
(c)    During 2019, Duke Energy Florida reached an agreement to transfer decommissioning work for Crystal River Unit 3 to a third party and decommissioning costs are based on the agreement with this third party rather than a cost study. Regulatory approval was received from the NRC and the FPSC in April 2020 and August 2020, respectively. Duke Energy Florida provides the FPSC periodic reports on the status and progress of decommissioning activities.
Nuclear Decommissioning Trust Funds
Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida each maintain NDTFs that are intended to pay for the decommissioning costs of their respective nuclear power plants. The NDTF investments are managed and invested in accordance with applicable requirements of various regulatory bodies including the NRC, FERC, NCUC, PSCSC, FPSC and the IRS.
Use of the NDTF investments is restricted to nuclear decommissioning activities including license termination, spent fuel and site restoration. The license termination and spent fuel obligations relate to contaminated decommissioning and are recorded as AROs. The site restoration obligation relates to non-contaminated decommissioning and is recorded to cost of removal within Regulatory liabilities on the Consolidated Balance Sheets.
The following table presents the fair value of NDTF assets legally restricted for purposes of settling AROs associated with nuclear decommissioning. Duke Energy Florida entered into an agreement with a third party to decommission Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 17 for additional information related to the fair value of the Duke Energy Registrants' NDTFs.
December 31,
(in millions)20242023
Duke Energy$10,044 $8,851 
Duke Energy Carolinas5,687 5,002 
Progress Energy
4,357 3,849 
Duke Energy Progress4,357 3,849 
Nuclear Operating Licenses
As described in Note 4, Duke Energy Carolinas and Duke Energy Progress intend to seek renewal of operating licenses and 20-year license extensions for all of their nuclear stations. The following table includes the current expiration of nuclear operating licenses.
UnitYear of Expiration
Duke Energy Carolinas
Catawba Units 1 and 22043
McGuire Unit 12041
McGuire Unit 22043
Oconee Units 1 and 22033
Oconee Unit 32034
Duke Energy Progress
Brunswick Unit 12036
Brunswick Unit 22034
Harris2046
Robinson2030
The NRC has acknowledged permanent cessation of operation and permanent removal of fuel from the reactor vessel at Crystal River Unit 3. Therefore, the license no longer authorizes operation of the reactor. During 2019, Duke Energy Florida entered into an agreement for the accelerated decommissioning of Crystal River Unit 3. Regulatory approval was received from the NRC and the FPSC in April 2020 and August 2020, respectively.
Closure of Ash Impoundments
The Duke Energy Registrants are subject to state and federal regulations covering the closure of coal ash impoundments, including federal CCR rules and the Coal Ash Act, and other agreements. In April 2024, the EPA issued the 2024 CCR Rule, which significantly expands the scope of the 2015 CCR Rule by establishing regulatory requirements for inactive surface impoundments at retired generating facilities and previously unregulated coal ash sources at regulated facilities. AROs recorded on the Duke Energy Registrants' Consolidated Balance Sheets include the legal obligation for closure of coal ash basins and the disposal of related ash as a result of these regulations and agreements.
The ARO amount recorded on the Consolidated Balance Sheets is based upon estimated closure costs for impacted ash impoundments. The amount recorded represents the discounted cash flows for estimated closure costs based upon specific closure plans. Actual costs to be incurred will be dependent upon factors that vary from site to site. The most significant factors are the method and time frame of closure at the individual sites. Closure methods considered include removing the water from ash basins, consolidating material as necessary and capping the ash with a synthetic barrier. The ultimate method and timetable for closure will be in compliance with standards set by federal and state regulations and other agreements. The ARO amount will be adjusted as additional information is gained through the closure and post-closure process, including acceptance and approval of compliance approaches, which may change management assumptions, and may result in a material change to the balance. See the ARO Liability Rollforward section below for information on revisions made to the coal ash liability during 2024 and 2023.
Asset retirement costs associated with the AROs for operating plants and retired plants are included in Net property, plant and equipment and Regulatory assets, respectively, on the Consolidated Balance Sheets. See Note 4 for additional information on Regulatory assets related to AROs and Note 5 for additional information on commitments and contingencies.
Cost recovery for future expenditures will be pursued through the normal ratemaking process with federal and state utility commissions, which permit recovery of reasonable and prudently incurred costs associated with Duke Energy’s regulated operations. See Note 4 for additional information on recovery of coal ash costs.
ARO Liability Rollforward
The following tables present changes in the liability associated with AROs.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2022$12,728 $5,382 $6,181 $5,823 $358 $154 $951 $26 
Accretion expense(a)
523 254 237 225 12 7 33 1 
Liabilities settled(b)
(758)(256)(379)(292)(87)(15)(108)— 
Liabilities incurred in the current year29 3 21 6 15 1 4 — 
Revisions in estimates of cash flows(c)
(3,366)(1,370)(1,915)(1,892)(23)(11)(71)(1)
Balance at December 31, 20239,156 4,013 4,145 3,870 275 136 809 26 
Accretion expense(a)
434 183 199 190 9 7 49 2 
Liabilities settled(b)
(634)(212)(321)(232)(89)(7)(94)— 
Liabilities incurred in the current year20 8 12 — 12 — — — 
Revisions in estimates of cash flows(c)
1,016 (2)513 506 7 3 504 1 
Balance at December 31, 2024$9,992 $3,990 $4,548 $4,334 $214 $139 $1,268 $29 
    
(a)    Substantially all accretion expense has been deferred in accordance with regulatory accounting treatment.
(b)    Amounts primarily relate to ash impoundment closures and nuclear decommissioning.
(c)    The amounts recorded represent the discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The decreases in 2023 primarily relate to lower discounted cash flows for decommissioning the nuclear power facilities due to changes in estimates and economic assumptions including discount rates, cost escalation rates and cash flow timing, as well as lower unit costs associated with ash basin closure, routine maintenance and beneficiation activities, as well as reduction in monitoring wells needed. The increases in 2024 primarily relate to additional scope requirements to regulate the disposal of CCR in landfills and surface impoundments as a result of the 2024 CCR Rule, including an increase in groundwater monitoring wells.
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Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment PROPERTY, PLANT AND EQUIPMENT
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2024
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,569 $617 $1,134 $535 $599 $258 $144 $391 
Plant – Regulated
Electric generation, distribution and transmission 37137,836 49,547 62,351 35,633 26,718 7,634 18,304 — 
Natural gas transmission and distribution 5815,333 — — — — 4,255 — 11,078 
Other buildings and improvements 412,982 1,256 698 391 307 418 372 238 
Nuclear fuel 3,518 2,003 1,515 1,515 — — — — 
Equipment 133,863 997 1,252 753 499 542 490 170 
Construction in process 7,850 2,735 3,657 1,884 1,773 385 406 405 
Other106,855 1,227 1,953 1,349 594 426 254 498 
Total property, plant and equipment(a)
180,806 58,382 72,560 42,060 30,490 13,918 19,970 12,780 
Total accumulated depreciation – regulated(b)(c)
(55,535)(19,090)(23,586)(15,930)(7,650)(3,674)(6,848)(2,432)
Total accumulated depreciation – other(d)
(1,968)— — — — — — — 
Total net property, plant and equipment $123,303 $39,292 $48,974 $26,130 $22,840 $10,244 $13,122 $10,348 
(a)    Includes finance leases of $670 million, $336 million, $620 million, $512 million, $108 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy and Duke Energy Progress amounts are net of $159 million of accumulated amortization of finance leases.
(b)    Includes $1,824 million, $1,010 million, $814 million and $814 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $84 million and $4 million at Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $25 million at Duke Energy.
December 31, 2023
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,345 $581 $1,012 $502 $510 $242 $133 $352 
Plant – Regulated
Electric generation, distribution and transmission 40129,985 48,107 57,436 33,171 24,265 7,243 17,199 — 
Natural gas transmission and distribution 5714,130 — — — — 3,993 — 10,137 
Other buildings and improvements 422,887 1,213 677 377 300 421 355 221 
Nuclear fuel 3,303 1,866 1,437 1,437 — — — — 
Equipment 143,409 870 1,104 654 450 474 442 143 
Construction in process 8,372 2,578 3,941 1,661 2,280 427 427 690 
Other126,922 1,455 2,037 1,481 548 410 344 365 
Total property, plant and equipment(a)
171,353 56,670 67,644 39,283 28,353 13,210 18,900 11,908 
Total accumulated depreciation – regulated(b)(c)
(54,323)(19,896)(22,300)(15,227)(7,067)(3,451)(6,501)(2,259)
Total accumulated depreciation – other(d)
(1,715)— — — — — — — 
Total net property, plant and equipment $115,315 $36,774 $45,344 $24,056 $21,286 $9,759 $12,399 $9,649 
(a)    Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $3 million, $67 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $7 million at Duke Energy.
The following table presents capitalized interest, which includes the debt component of AFUDC.
Years Ended December 31,
(in millions)202420232022
Duke Energy$201 $201 $118 
Duke Energy Carolinas61 62 50 
Progress Energy57 41 26 
Duke Energy Progress52 35 19 
Duke Energy Florida5 6 7 
Duke Energy Ohio14 16 14 
Duke Energy Indiana
13 21 3 
Piedmont8 8 4 
v3.25.0.1
Goodwill and Intangible Assets
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill and Intangible Assets GOODWILL AND INTANGIBLE ASSETS
GOODWILL
Duke Energy
Duke Energy's Goodwill balance of $19.3 billion is allocated $17.4 billion to EU&I and $1.9 billion to GU&I on Duke Energy's Consolidated Balance Sheets at December 31, 2024, and 2023. There are no accumulated impairment charges.
Duke Energy Ohio
Duke Energy Ohio's Goodwill balance of $920 million, allocated $596 million to EU&I and $324 million to GU&I, is presented net of accumulated impairment charges of $216 million on the Consolidated Balance Sheets at December 31, 2024, and 2023.
Progress Energy
Progress Energy's Goodwill is included in the EU&I segment and there are no accumulated impairment charges.
Piedmont
Piedmont's Goodwill is included in the GU&I segment and there are no accumulated impairment charges.
Goodwill Impairment Testing
Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont are required to perform an annual goodwill impairment test as of the same date each year and, accordingly, perform their annual impairment testing of goodwill as of August 31. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update their test between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. As the fair value for Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont exceeded their respective carrying values at the date of the annual impairment analysis, no goodwill impairment charges were recorded in 2024.
INTANGIBLE ASSETS
The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2024, and 2023.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 241 103 136 136 — 2 — — 
Other 47 — 5 1 4 — — 22 
Total gross carrying amounts 296 103 146 139 7 2 2 22 
Accumulated amortization – other (19)— (3)— (3)— — (9)
Total intangible assets, net $277 $103 $143 $139 $4 $2 $2 $13 
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 232 97 133 133 — 2 — — 
Other 56 — 5 1 3 — — 22 
Total gross carrying amounts 296 97 143 136 6 2 2 22 
Accumulated amortization – other (14)— (3)— (3)— — (6)
Total intangible assets, net $282 $97 $140 $136 $3 $2 $2 $16 
Amortization Expense
Amortization expense amounts for other intangible assets are immaterial for the years ended December 31, 2024, 2023 and 2022, and are expected to be immaterial for the next five years as of December 31, 2024.
v3.25.0.1
Investments in Unconsolidated Affiliates
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Unconsolidated Affiliates INVESTMENTS IN UNCONSOLIDATED AFFILIATES
EQUITY METHOD INVESTMENTS
Investments in affiliates that are not controlled by Duke Energy, but over which it has significant influence, are accounted for using the equity method.
The following table presents Duke Energy’s investments in unconsolidated affiliates accounted for under the equity method, as well as the respective equity in earnings (losses), by segment, for periods presented in this filing.
 Years Ended December 31,
 202420232022
Equity in
Equity in
Equity in
(in millions)Investments
(losses) earnings
Investments
earnings
earnings
Electric Utilities and Infrastructure$28 $(11)$97 $7 $7 
Gas Utilities and Infrastructure186 (48)259 40 21 
Other139 50 136 66 85 
Total$353 $(9)$492 $113 $113 
During the years ended December 31, 2024, 2023 and 2022, Duke Energy received distributions from equity investments of $66 million, $50 million and $111 million, respectively, which are included in Other assets within Cash Flows from Operating Activities on the Consolidated Statements of Cash Flows. During the years ended December 31, 2024, 2023 and 2022, Duke Energy received distributions from equity investments of $25 million, $16 million and $6 million, respectively, which are included in Return of investment capital within Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows.
During the years ended December 31, 2024, 2023 and 2022, Piedmont received distributions from equity investments of $9 million, $9 million and $31 million, respectively, which are included in Other assets within Cash Flows from Operating Activities. During the years ended December 31, 2024, and 2023, Piedmont received distributions from equity investments of $2 million and $1 million, respectively, which are included within Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows. Amounts received during the year ended December 31, 2022, included in Cash Flows from Investing Activities on the Consolidated Statements of Cash Flows were immaterial.
Significant investments in affiliates accounted for under the equity method are discussed below.
Electric Utilities and Infrastructure
Duke Energy owns a 50% interest in DATC. DATC owns 100% interest in DATC Path 15 Transmission LLC, which owns transmission rights in North America. In January 2025, Duke Energy entered into an agreement to sell its indirect 50% ownership interest in DATC Path 15 Transmission LLC. In conjunction with the sale and to reflect the investment's fair value as of December 31, 2024, a pretax charge of $15 million was recorded in Equity in (losses) earnings of unconsolidated affiliates on Duke Energy's Consolidated Statements of Operations for the year ended December 31, 2024. The transaction is expected to close in the second quarter of 2025.
In November 2024, Duke Energy sold its 50% interest in Pioneer, which also builds, owns and operates electric transmission facilities in North America. Proceeds from the sale approximated the carrying value of the investment.
Gas Utilities and Infrastructure
Pipeline Investments
Piedmont owns a 21.49% investment in Cardinal, an intrastate pipeline located in North Carolina.
Duke Energy owns a 7.5% interest in Sabal Trail, a 517-mile interstate natural gas pipeline, which provides natural gas to Duke Energy Florida and Florida Power and Light.
Storage Facilities
Piedmont owns a 45% interest in Pine Needle, an interstate LNG storage facility located in North Carolina, and a 50% interest in Hardy Storage, an underground interstate natural gas storage facility located in West Virginia.
Renewable Natural Gas Investments
Duke Energy has held an investment in SustainRNG, a developer of renewable natural gas projects, and investments in multiple project companies developed by SustainRNG. In December 2024, Duke Energy recorded a pretax charge of $54 million within Equity in (losses) earnings of unconsolidated affiliates on the Consolidated Statements of Operations, fully impairing Duke Energy's investments in the project companies.
Other
Duke Energy has a 17.5% indirect economic ownership interest and a 25% board representation and voting rights interest in NMC, which owns and operates a methanol and MTBE business in Jubail, Saudi Arabia.
v3.25.0.1
Related Party Transactions
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
The Subsidiary Registrants engage in related party transactions in accordance with the applicable state and federal commission regulations. Refer to the Consolidated Balance Sheets of the Subsidiary Registrants for balances due to or due from related parties. Transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
 Years Ended December 31,
(in millions) 202420232022
Duke Energy Carolinas   
Corporate governance and shared service expenses(a)
$812 $823 $838 
Indemnification coverages(b)
44 34 28 
JDA revenue(c)
35 34 109 
JDA expense(c)
187 177 600 
Intercompany natural gas purchases(d)
12 11 12 
Progress Energy 
Corporate governance and shared service expenses(a)
$709 $736 $818 
Indemnification coverages(b)
57 47 43 
JDA revenue(c)
187 177 600 
JDA expense(c)
35 34 109 
Intercompany natural gas purchases(d)
75 75 76 
Duke Energy Progress 
Corporate governance and shared service expenses(a)
$426 $434 $469 
Indemnification coverages(b)
23 20 20 
JDA revenue(c)
187 177 600 
JDA expense(c)
35 34 109 
Intercompany natural gas purchases(d)
75 75 76 
Duke Energy Florida 
Corporate governance and shared service expenses(a)
$283 $302 $349 
Indemnification coverages(b)
34 27 23 
Duke Energy Ohio 
Corporate governance and shared service expenses(a)
$304 $294 $334 
Indemnification coverages(b)
6 5 5 
Duke Energy Indiana 
Corporate governance and shared service expenses(a)
$355 $365 $447 
Indemnification coverages(b)
10 8 8 
Piedmont
Corporate governance and shared service expenses(a)
$166 $149 $155 
Indemnification coverages(b)
4 4 3 
Intercompany natural gas sales(d)
87 86 88 
Natural gas storage and transportation costs(e)
23 24 23 
(a)The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(b)The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(c)Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income.
(d)Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation.
(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income.
In addition to the amounts presented above, the Subsidiary Registrants have other affiliate transactions, including rental of office space, participation in a money pool arrangement, other operational transactions and their proportionate share of certain charged expenses. See Note 7 for more information regarding money pool. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation.
As discussed in Note 18, certain trade receivables were previously sold by Duke Energy Ohio and Duke Energy Indiana to CRC, an affiliate formed by a subsidiary of Duke Energy. The proceeds obtained from the sales of receivables were largely cash but included a subordinated note from CRC for a portion of the purchase price. In March 2024, Duke Energy repaid all outstanding CRC borrowings and terminated the related CRC credit facility.
Intercompany Income Taxes
Duke Energy and the Subsidiary Registrants file a consolidated federal income tax return and other state and jurisdictional returns. The Subsidiary Registrants have a tax sharing agreement with Duke Energy for the allocation of consolidated tax liabilities and benefits. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.
DukeDukeDukeDukeDuke
EnergyProgressEnergyEnergyEnergyEnergy
(in millions)CarolinasEnergyProgressFloridaOhioIndianaPiedmont
December 31, 2024
Intercompany income tax receivable$— $— $— $154 $— $— $— 
Intercompany income tax payable419 169 315 — 43 110 43 
December 31, 2023
Intercompany income tax receivable$— $— $— $— $91 $53 $— 
Intercompany income tax payable81 92 94 114 — — 57 
v3.25.0.1
Derivatives and Hedging
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivatives and Hedging DERIVATIVES AND HEDGING
The Duke Energy Registrants use commodity, interest rate and foreign currency contracts to manage commodity price risk, interest rate risk and foreign currency exchange rate risk. The primary use of commodity derivatives is to hedge the generation portfolio against changes in the prices of electricity and natural gas. Piedmont enters into natural gas supply contracts to provide diversification, reliability and natural gas cost benefits to its customers. Interest rate derivatives are used to manage interest rate risk associated with borrowings. Foreign currency derivatives are used to manage risk related to foreign currency exchange rates on certain issuances of debt.
All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities on the Consolidated Statements of Cash Flows.
INTEREST RATE RISK
The Duke Energy Registrants are exposed to changes in interest rates as a result of their issuance or anticipated issuance of variable-rate and fixed-rate debt and commercial paper. Interest rate risk is managed by limiting variable-rate exposures to a percentage of total debt and by monitoring changes in interest rates. To manage risk associated with changes in interest rates, the Duke Energy Registrants may enter into interest rate swaps, U.S. Treasury lock agreements and other financial contracts. In anticipation of certain fixed-rate debt issuances, a series of forward-starting interest rate swaps or Treasury locks may be executed to lock in components of current market interest rates. These instruments are later terminated prior to or upon the issuance of the corresponding debt.
Cash Flow Hedges
For a derivative designated as hedging the exposure to variable cash flows of a future transaction, referred to as a cash flow hedge, the effective portion of the derivative's gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings once the future transaction impacts earnings. Amounts for interest rate contracts are reclassified to earnings as interest expense over the term of the related debt. Gains and losses reclassified out of AOCI for the years ended December 31, 2024, 2023, and 2022, were not material. Duke Energy's interest rate derivatives designated as hedges include forward-starting interest rate swaps not accounted for under regulatory accounting.
Undesignated Contracts
Undesignated contracts primarily include contracts not designated as a hedge because they are accounted for under regulatory accounting or contracts that do not qualify for hedge accounting.
Duke Energy’s interest rate swaps for its regulated operations employ regulatory accounting. With regulatory accounting, the mark-to-market gains or losses on the swaps are deferred as regulatory liabilities or regulatory assets, respectively. Regulatory assets and liabilities are amortized consistent with the treatment of the related costs in the ratemaking process. The accrual of interest on the swaps is recorded as Interest Expense on the Duke Energy Registrant's Consolidated Statements of Operations and Comprehensive Income.
The following tables show notional amounts of outstanding derivatives related to interest rate risk.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,825 $— $— $— $— $— $— 
Undesignated contracts3,202 1,150 1,775 1,125 650 250 27 
Total notional amount$6,027 $1,150 $1,775 $1,125 $650 $250 $27 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,300 $— $— $— $— $— $— 
Undesignated contracts2,727 1,050 1,250 925 325 400 27 
Total notional amount$5,027 $1,050 $1,250 $925 $325 $400 $27 
COMMODITY PRICE RISK
The Duke Energy Registrants are exposed to the impact of changes in the prices of electricity purchased and sold in bulk power markets and natural gas purchases, including Piedmont's natural gas supply contracts. Exposure to commodity price risk is influenced by a number of factors including the term of contracts, the liquidity of markets and delivery locations. To manage risk associated with commodity prices, the Duke Energy Registrants may enter into long-term power purchase or sales contracts and long-term natural gas supply agreements.
Undesignated Contracts
For the Subsidiary Registrants, bulk power electricity and natural gas purchases flow through fuel adjustment clauses, formula-based contracts or other cost sharing mechanisms. Differences between the costs included in rates and the incurred costs, including undesignated derivative contracts, are largely deferred as regulatory assets or regulatory liabilities. Piedmont policies allow for the use of financial instruments to hedge commodity price risks. The strategy and objective of these hedging programs are to use the financial instruments to reduce natural gas cost volatility for customers.
Volumes
The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)12,229 — — — 1,287 10,942 — 
Natural gas (millions of Dth)779 276 246 246 — 32 225 
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)13,608 — — — 1,616 11,992 — 
Natural gas (millions of Dth)846 279 274 274 — 30 263 
FOREIGN CURRENCY RISK
Duke Energy may enter into foreign currency derivatives to hedge exposure to changes in foreign currency exchange rates, such as that arising from the issuance of debt denominated in a currency other than U.S. dollars.
Fair Value Hedges
Derivatives related to existing fixed rate securities are accounted for as fair value hedges, where the derivatives’ fair value gains or losses and hedged items’ fair value gains or losses are both recorded directly to earnings on the same income statement line item, including foreign currency gains or losses arising from changes in the U.S. currency exchange rates. Duke Energy has elected to exclude the cross-currency basis spread from the assessment of effectiveness in the fair value hedges of its foreign currency risk and record any difference between the change in the fair value of the excluded components and the amounts recognized in earnings as a component of other comprehensive income or loss.
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk.
Fair Value Gain (Loss)(a)
Receive
Hedge
(in millions)
Pay NotionalNotionalReceive
Maturity
Years Ended December 31,
(in millions)Pay Rate(in millions)Rate
Date
202420232022
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$(41)$17 $(3)
537 5.31 %500 euros3.85 %June 2034(34)15 (2)
815 5.65 %750 
euros
3.75 %April 2031(38)— — 
Total notional amount$1,997 1,850 euros$(113)$32 $(5)
(a)    Amounts are recorded in Other Income and expenses, net on the Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded.
LOCATION AND FAIR VALUE OF DERIVATIVE ASSETS AND LIABILITIES RECOGNIZED IN THE CONSOLIDATED BALANCE SHEETS
The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative AssetsDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$49 $20 $17 $17 $— $1 $8 $1 
Noncurrent60 29 32 32 — — — — 
Total Derivative Assets – Commodity Contracts$109 $49 $49 $49 $— $1 $8 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$108 $— $— $— $— $— $— $— 
Noncurrent52 — — — — — — — 
Not Designated as Hedging Instruments
Current$110 $19 $55 $44 $11 $— $36 $— 
Noncurrent50 26 23 16 7 — — — 
Total Derivative Assets – Interest Rate Contracts$320 $45 $78 $60 $18 $— $36 $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent5 — — — — — — — 
Total Derivative Assets – Foreign Currency Contracts
$5 $— $— $— $— $— $— $— 
Total Derivative Assets$434 $94 $127 $109 $18 $1 $44 $1 
Derivative LiabilitiesDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$108 $57 $32 $32 $— $— $3 $16 
Noncurrent134 31 24 24 — — — 78 
Total Derivative Liabilities – Commodity Contracts$242 $88 $56 $56 $— $— $3 $94 
Interest Rate Contracts
Not Designated as Hedging Instruments
Current2 — 2 1 1 — — — 
Noncurrent1 — — — — 1 — — 
Total Derivative Liabilities – Interest Rate Contracts$3 $— $2 $1 $1 $1 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$35 $— $— $— $— $— $— $— 
Noncurrent39 — — — — — — — 
Total Derivative Liabilities – Foreign Currency Contracts$74 $— $— $— $— $— $— $— 
Total Derivative Liabilities$319 $88 $58 $57 $1 $1 $3 $94 
Derivative AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$25 $1 $3 $1 $2 $1 $18 $1 
Noncurrent57 26 31 31 — — — — 
Total Derivative Assets – Commodity Contracts$82 $27 $34 $32 $2 $1 $18 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$31 $— $— $— $— $— $— $— 
Noncurrent17 — — — — — — — 
Not Designated as Hedging Instruments
Current$5 $5 $— $— $— $— $— $— 
Noncurrent10 3 — — — — 7 — 
Total Derivative Assets – Interest Rate Contracts$63 $8 $— $— $— $— $7 $— 
Foreign Currency Contracts
 Designated as Hedging Instruments
Noncurrent
$44 $— $— $— $— $— $— $— 
Total Derivative Assets – Foreign Currency Contracts
$44 $— $— $— $— $— $— $— 
Total Derivative Assets$189 $35 $34 $32 $2 $1 $25 $1 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Not Designated as Hedging Instruments
Current$354 $177 $138 $138 $— $— $18 $20 
Noncurrent255 67 61 61 — — — 127 
Total Derivative Liabilities – Commodity Contracts$609 $244 $199 $199 $— $— $18 $147 
Interest Rate Contracts
Designated as Hedging Instruments
Current$25 $— $— $— $— $— $— $— 
Noncurrent26 — — — — — — — 
Not Designated as Hedging Instruments
Current13 2 11 11 — — — — 
Noncurrent39 14 24 9 15 1 — — 
Total Derivative Liabilities – Interest Rate Contracts$103 $16 $35 $20 $15 $1 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities – Foreign Currency Contracts$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities$729 $260 $234 $219 $15 $1 $18 $147 
OFFSETTING ASSETS AND LIABILITIES
The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative AssetsDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$267 $39 $72 $61 $11 $1 $44 $1 
Offset(29)(15)(14)(14)— — — — 
Net amounts presented in Current Assets: Other$238 $24 $58 $47 $11 $1 $44 $1 
Noncurrent
Gross amounts recognized$167 $55 $55 $48 $7 $— $— $— 
Offset(37)(19)(17)(17)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$130 $36 $38 $31 $7 $— $— $— 
Derivative LiabilitiesDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$145 $57 $34 $33 $1 $— $3 $16 
Offset(29)(15)(14)(14)— — — — 
Cash collateral posted(3)(2)— — — — (1)— 
Net amounts presented in Current Liabilities: Other$113 $40 $20 $19 $1 $— $2 $16 
Noncurrent
Gross amounts recognized$174 $31 $24 $24 $— $1 $— $78 
Offset(37)(19)(17)(17)— — — — 
Cash collateral posted(4)(4)— — — — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$133 $8 $7 $7 $— $1 $— $78 
Derivative AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$61 $6 $3 $1 $2 $1 $18 $1 
Offset(2)(1)(1)(1)— — — — 
Net amounts presented in Current Assets: Other$59 $5 $2 $— $2 $1 $18 $1 
Noncurrent
Gross amounts recognized$128 $29 $31 $31 $— $— $7 $— 
Offset(37)(14)(22)(22)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$91 $15 $9 $9 $— $— $7 $— 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$409 $179 $149 $149 $— $— $18 $20 
Offset(2)(1)(1)(1)— — — — 
Cash collateral posted(96)(48)(30)(30)— — (18)— 
Net amounts presented in Current Liabilities: Other$311 $130 $118 $118 $— $— $— $20 
Noncurrent
Gross amounts recognized$320 $81 $85 $70 $15 $1 $— $127 
Offset(37)(14)(22)(22)— — — — 
Cash collateral posted(66)(38)(28)(28)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$217 $29 $35 $20 $15 $1 $— $127 
OBJECTIVE CREDIT CONTINGENT FEATURES
Certain derivative contracts contain objective credit contingent features. These features include the requirement to post cash collateral or letters of credit if specific events occur, such as a credit rating downgrade below investment grade. The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit risk-related payment provisions.
December 31, 2024
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$101 $52 $49 $49 
Fair value of collateral already posted6 6 — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered95 46 49 49 
December 31, 2023
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$342 $175 $166 $166 
Fair value of collateral already posted144 86 58 58 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered198 89 108 108 
The Duke Energy Registrants have elected to offset cash collateral and fair values of derivatives. For amounts to be netted, the derivative and cash collateral must be executed with the same counterparty under the same master netting arrangement.
v3.25.0.1
Investments in Debt and Equity Securities
 12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Investments in Debt and Equity Securities INVESTMENTS IN DEBT AND EQUITY SECURITIES
Duke Energy’s investments in debt and equity securities are primarily comprised of investments held in (i) the NDTF at Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, (ii) the grantor trusts at Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as AFS and investments in equity securities as FV-NI.
For investments in debt securities classified as AFS, the unrealized gains and losses are included in other comprehensive income until realized, at which time they are reported through net income. For investments in equity securities classified as FV-NI, both realized and unrealized gains and losses are reported through net income. Substantially all of Duke Energy’s investments in debt and equity securities qualify for regulatory accounting, and accordingly, all associated realized and unrealized gains and losses on these investments are deferred as a regulatory asset or liability.
Duke Energy classifies the majority of investments in debt and equity securities as long term, unless otherwise noted.
Investment Trusts
The investments within the Investment Trusts are managed by independent investment managers with discretion to buy, sell and invest pursuant to the objectives set forth by the investment manager agreements and trust agreements. The Duke Energy Registrants have limited oversight of the day-to-day management of these investments. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate.
Other AFS Securities
Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If a credit loss exists, the unrealized credit loss is included in earnings. There were no material credit losses as of December 31, 2024, and 2023.
Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
DUKE ENERGY
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $139 $— $— $133 
Equity securities 5,753 61 8,233 4,942 22 7,278 
Corporate debt securities 6 33 673 12 43 632 
Municipal bonds 2 14 342 6 16 347 
U.S. government bonds 3 84 1,806 24 65 1,575 
Other debt securities 1 8 239 1 13 178 
Total NDTF Investments$5,765 $200 $11,432 $4,985 $159 $10,143 
Other Investments       
Cash and cash equivalents $— $— $47 $— $— $31 
Equity securities 39 4 160 33 — 158 
Corporate debt securities — 5 79 — 6 82 
Municipal bonds — 1 83 1 2 77 
U.S. government bonds — 5 59 — 2 65 
Other debt securities — 4 45 — 2 47 
Total Other Investments$39 $19 $473 $34 $12 $460 
Total Investments $5,804 $219 $11,905 $5,019 $171 $10,603 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$600 $129 $201 
Realized losses85 146 316 
AFS:
Realized gains28 44 28 
Realized losses67 140 151 
DUKE ENERGY CAROLINAS
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2024 December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $62 $— $— $51 
Equity securities 3,386 33 4,751 2,886 14 4,196 
Corporate debt securities 2 27 401 4 35 390 
Municipal bonds — 4 36 — 4 50 
U.S. government bonds — 50 991 13 33 826 
Other debt securities 1 8 223 1 13 172 
Total NDTF Investments$3,389 $122 $6,464 $2,904 $99 $5,685 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$298 $82 $124 
Realized losses40 79 177 
AFS:
Realized gains14 22 22 
Realized losses40 65 86 
PROGRESS ENERGY
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $77 $— $— $82 
Equity securities 2,367 28 3,482 2,056 8 3,082 
Corporate debt securities 4 6 272 8 8 242 
Municipal bonds 2 10 306 6 12 297 
U.S. government bonds 3 34 815 11 32 749 
Other debt securities — — 16 — — 6 
Total NDTF Investments$2,376 $78 $4,968 $2,081 $60 $4,458 
Other Investments       
Cash and cash equivalents $— $— $23 $— $— $18 
Municipal bonds — — 24 — 1 23 
Total Other Investments$— $— $47 $— $1 $41 
Total Investments $2,376 $78 $5,015 $2,081 $61 $4,499 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$302 $47 $77 
Realized losses45 67 139 
AFS:
Realized gains14 22 6 
Realized losses27 75 48 
DUKE ENERGY PROGRESS
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $54 $— $— $55 
Equity securities 2,256 28 3,362 1,956 8 2,970 
Corporate debt securities 4 6 256 7 8 229 
Municipal bonds 2 10 306 6 12 297 
U.S. government bonds 3 26 645 10 18 518 
Other debt securities — — 14 — — 6 
Total NDTF Investments$2,265 $70 $4,637 $1,979 $46 $4,075 
Other Investments    
Cash and cash equivalents $— $— $16 $— $— $14 
Total Other Investments$— $— $16 $— $— $14 
Total Investments $2,265 $70 $4,653 $1,979 $46 $4,089 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$288 $44 $76 
Realized losses44 66 136 
AFS:
Realized gains13 20 6 
Realized losses26 70 44 
DUKE ENERGY FLORIDA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF        
Cash and cash equivalents $— $— $23 $— $— $27 
Equity securities 111 — 120 100 — 112 
Corporate debt securities — — 16 1 — 13 
U.S. government bonds — 8 170 1 14 231 
Other debt securities — — 2 — — — 
Total NDTF Investments(a)
$111 $8 $331 $102 $14 $383 
Other Investments    
Cash and cash equivalents $— $— $3 $— $— $3 
Municipal bonds — — 24 — 1 23 
Total Other Investments$— $— $27 $— $1 $26 
Total Investments $111 $8 $358 $102 $15 $409 
(a)    During the years ended December 31, 2024, and 2023, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were immaterial.
DUKE ENERGY INDIANA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
 December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
Investments       
Cash and cash equivalents$— $— $1 $— $— $1 
Equity securities — 4 89 4 — 98 
Corporate debt securities — — 6 — — 8 
Municipal bonds — 1 43 1 1 46 
U.S. government bonds — — 7 — — 10 
Total Investments $— $5 $146 $5 $1 $163 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were immaterial.
DEBT SECURITY MATURITIES
The table below summarizes the maturity date for debt securities.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$89 $9 $62 $12 $50 $4 
Due after one through five years791 303 408 310 98 20 
Due after five through 10 years721 441 234 219 15 12 
Due after 10 years1,725 898 729 680 49 20 
Total$3,326 $1,651 $1,433 $1,221 $212 $56 
v3.25.0.1
Fair Value Measurements
 12 Months Ended
Dec. 31, 2024
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
Fair value is the exchange price to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. The fair value definition focuses on an exit price versus the acquisition cost. Fair value measurements use market data or assumptions market participants would use in pricing the asset or liability, including assumptions about risk and the risks inherent in the inputs to the valuation technique. These inputs may be readily observable, corroborated by market data, or generally unobservable. Valuation techniques maximize the use of observable inputs and minimize the use of unobservable inputs. A midmarket pricing convention (the midpoint price between bid and ask prices) is permitted for use as a practical expedient.
Fair value measurements are classified in three levels based on the fair value hierarchy as defined by GAAP. Certain investments are not categorized within the fair value hierarchy. These investments are measured at fair value using the net asset value per share practical expedient. The net asset value is derived based on the investment cost, less any impairment, plus or minus changes resulting from observable price changes for an identical or similar investment of the same issuer.
Fair value accounting guidance permits entities to elect to measure certain financial instruments that are not required to be accounted for at fair value, such as equity method investments or the Company’s own debt, at fair value. The Duke Energy Registrants have not elected to record any of these items at fair value.
Valuation methods of the primary fair value measurements disclosed below are as follows.
Investments in equity securities
The majority of investments in equity securities are valued using Level 1 measurements. Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the quarter. Principal active markets for equity prices include published exchanges such as the NYSE and Nasdaq Stock Market. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. There was no after-hours market activity that was required to be reflected in the reported fair value measurements.
Investments in debt securities
Most investments in debt securities are valued using Level 2 measurements because the valuations use interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3.
Commodity derivatives
Commodity derivatives with clearinghouses are classified as Level 1. Commodity derivatives with observable forward curves are classified as Level 2. If forward price curves are not observable for the full term of the contract and the unobservable period had more than an insignificant impact on the valuation, the commodity derivative is classified as Level 3. In isolation, increases (decreases) in natural gas forward prices result in favorable (unfavorable) fair value adjustments for natural gas purchase contracts; and increases (decreases) in electricity forward prices result in unfavorable (favorable) fair value adjustments for electricity sales contracts. Duke Energy regularly evaluates and validates pricing inputs used to estimate the fair value of certain commodity contracts by a market participant price verification procedure. This procedure provides a comparison of internal forward commodity curves to market participant generated curves.
Interest rate derivatives
Most over-the-counter interest rate contract derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward interest rate curves, notional amounts, interest rates and credit quality of the counterparties.
Foreign currency derivatives
Most over-the-counter foreign currency derivatives are valued using financial models that utilize observable inputs for similar instruments and are classified as Level 2. Inputs include forward foreign currency rate curves, notional amounts, foreign currency rates and credit quality of the counterparties.
Other fair value considerations
See Note 2 for further information on the valuation of the Commercial Renewables Disposal Groups. See Note 12 for a discussion of the valuation of goodwill and intangible assets.
DUKE ENERGY
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15. See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants.
 December 31, 2024
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$139 $139 $— $— $— 
NDTF equity securities8,233 8,203 2 — 28 
NDTF debt securities3,060 1,022 2,038 — — 
Other equity securities160 160 — — — 
Other debt securities266 52 214 — — 
Other cash and cash equivalents47 47 — — — 
Derivative assets434 2 423 9 — 
Total assets12,339 9,625 2,677 9 28 
Derivative liabilities(319)(3)(316)— — 
Net assets
$12,020 $9,622 $2,361 $9 $28 
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$133 $133 $— $— $— 
NDTF equity securities7,278 7,241 — — 37 
NDTF debt securities2,732 829 1,903 — — 
Other equity securities158 158 — — — 
Other debt securities271 55 216 — — 
Other cash and cash equivalents31 31 — — — 
Derivative assets189 37 137 15 — 
Total assets10,792 8,484 2,256 15 37 
Derivative liabilities(729)(60)(669)— — 
Net assets
$10,063 $8,424 $1,587 $15 $37 
The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
 Years Ended December 31,
(in millions) 20242023
Balance at beginning of period$15 $34 
Purchases, sales, issuances and settlements:
Purchases29 47 
Settlements(46)(72)
Total gains included on the Consolidated Balance Sheet
11 6 
Balance at end of period$9 $15 
DUKE ENERGY CAROLINAS
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$62 $62 $— $— 
NDTF equity securities4,751 4,721 2 28 
NDTF debt securities1,651 520 1,131 — 
Derivative assets94 — 94 — 
Total assets6,558 5,303 1,227 28 
Derivative liabilities(88)— (88)— 
Net assets$6,470 $5,303 $1,139 $28 
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$51 $51 $— $— 
NDTF equity securities4,196 4,159 — 37 
NDTF debt securities1,438 375 1,063 — 
Derivative assets35 — 35 — 
Total assets5,720 4,585 1,098 37 
Derivative liabilities(260)— (260)— 
Net assets$5,460 $4,585 $838 $37 
PROGRESS ENERGY
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$77 $77 $— $82 $82 $— 
NDTF equity securities3,482 3,482 — 3,082 3,082 — 
NDTF debt securities1,409 502 907 1,294 454 840 
Other debt securities24 — 24 23 — 23 
Other cash and cash equivalents23 23 — 18 18 — 
Derivative assets127 — 127 34 — 34 
Total assets5,142 4,084 1,058 4,533 3,636 897 
Derivative liabilities(58)— (58)(234)— (234)
Net assets$5,084 $4,084 $1,000 $4,299 $3,636 $663 
DUKE ENERGY PROGRESS
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$54 $54 $— $55 $55 $— 
NDTF equity securities3,362 3,362 — 2,970 2,970 — 
NDTF debt securities1,221 365 856 1,050 266 784 
Other cash and cash equivalents16 16 — 14 14 — 
Derivative assets109 — 109 32 — 32 
Total assets4,762 3,797 965 4,121 3,305 816 
Derivative liabilities(57)— (57)(219)— (219)
Net assets$4,705 $3,797 $908 $3,902 $3,305 $597 
DUKE ENERGY FLORIDA
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$23 $23 $— $27 $27 $— 
NDTF equity securities120 120 — 112 112 — 
NDTF debt securities188 137 51 244 188 56 
Other debt securities24 — 24 23 — 23 
Other cash and cash equivalents3 3 — 3 3 — 
Derivative assets18 — 18 2 — 2 
Total assets376 283 93 411 330 81 
Derivative liabilities(1)— (1)(15)— (15)
Net assets$375 $283 $92 $396 $330 $66 
DUKE ENERGY OHIO
The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets were not material at December 31, 2024, and 2023.
DUKE ENERGY INDIANA
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$89 $89 $— $— $98 $98 $— $— 
Other debt securities56 — 56 — 64 — 64 — 
Other cash equivalents1 1 — — 1 1 — — 
Derivative assets44 — 36 8 25 5 7 13 
Total assets190 90 92 8 188 104 71 13 
Derivative liabilities(3)(3)— — (18)(18)— — 
Net assets$187 $87 $92 $8 $170 $86 $71 $13 
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
 Derivatives (net)
 Years Ended December 31,
(in millions)20242023
Balance at beginning of period$13 $29 
Purchases, sales, issuances and settlements:
Purchases27 42 
Settlements(42)(68)
Total gains included on the Consolidated Balance Sheet
10 10 
Balance at end of period$8 $13 
PIEDMONT
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $1 $1 $— 
Derivative liabilities(94)— (94)(147)— (147)
Net (liabilities) assets$(93)$1 $(94)$(146)$1 $(147)
QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
December 31, 2024
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$1 RTO auction pricingFTR price – per MWh$— –$1.13 $0.48 
Duke Energy Indiana
FTRs8 RTO auction pricingFTR price – per MWh(0.63)–9.24 0.94 
Duke Energy
Total Level 3 derivatives$9 
December 31, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.36 –$2.11 $0.71 
Duke Energy Indiana
FTRs13 RTO auction pricingFTR price – per MWh(1.05)–9.64 1.26 
Duke Energy
Total Level 3 derivatives$15 
OTHER FAIR VALUE DISCLOSURES
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.
 December 31, 2024December 31, 2023
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$80,689 $73,440 $75,252 $69,790 
Duke Energy Carolinas17,490 15,975 16,012 15,077 
Progress Energy24,496 22,548 23,759 22,553 
Duke Energy Progress12,504 11,009 11,714 10,595 
Duke Energy Florida10,348 9,752 10,401 10,123 
Duke Energy Ohio4,165 3,871 3,518 3,310 
Duke Energy Indiana4,798 4,329 4,502 4,230 
Piedmont4,003 3,584 3,668 3,336 
(a)    Book value of long-term debt includes $1.0 billion as of December 31, 2024, and December 31, 2023, of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
At both December 31, 2024, and December 31, 2023, fair value of cash and cash equivalents, accounts and notes receivable, accounts payable, notes payable and commercial paper, and nonrecourse notes payable of VIEs are not materially different from their carrying amounts because of the short-term nature of these instruments and/or because the stated rates approximate market rates.
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Variable Interest Entities
 12 Months Ended
Dec. 31, 2024
Variable Interest Entities [Abstract]  
Variable Interest Entities VARIABLE INTEREST ENTITIES
A VIE is an entity that is evaluated for consolidation using more than a simple analysis of voting control. The analysis to determine whether an entity is a VIE considers contracts with an entity, credit support for an entity, the adequacy of the equity investment of an entity and the relationship of voting power to the amount of equity invested in an entity. This analysis is performed either upon the creation of a legal entity or upon the occurrence of an event requiring reevaluation, such as a significant change in an entity’s assets or activities. A qualitative analysis of control determines the party that consolidates a VIE. This assessment is based on (i) what party has the power to direct the activities of the VIE that most significantly impact its economic performance and (ii) what party has rights to receive benefits or is obligated to absorb losses that could potentially be significant to the VIE. The analysis of the party that consolidates a VIE is a continual reassessment.
CONSOLIDATED VIEs
The obligations of the consolidated VIEs discussed in the following paragraphs are nonrecourse to the Duke Energy Registrants. The registrants have no requirement to provide liquidity to, purchase assets of or guarantee performance of these VIEs unless noted in the following paragraphs.
No financial support was provided to any of the consolidated VIEs during the years ended December 31, 2024, 2023 and 2022, or is expected to be provided in the future, that was not previously contractually required.
Receivables Financing – DERF/DEPR/DEFR
DERF, DEPR and DEFR are bankruptcy remote, special purpose subsidiaries of Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida, respectively. DERF, DEPR and DEFR are wholly owned LLCs with separate legal existence from their parent companies, and their assets are not generally available to creditors of their parent companies. On a revolving basis, DERF, DEPR and DEFR buy certain accounts receivable arising from the sale of electricity and related services from their parent companies.
DERF, DEPR and DEFR borrow amounts under credit facilities to buy these receivables. Borrowing availability from the credit facilities is limited to the amount of qualified receivables purchased, which generally exclude receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligations is cash collections from the receivables. Amounts borrowed under the DERF, DEPR, and DEFR credit facilities are reflected on the Consolidated Balance Sheets as Current maturities of long-term debt.
The most significant activity that impacts the economic performance of DERF, DEPR and DEFR are the decisions made to manage delinquent receivables. Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida are considered the primary beneficiaries and consolidate DERF, DEPR and DEFR, respectively, as they make those decisions.
In April 2024, Duke Energy Florida repaid all outstanding DEFR borrowings totaling $325 million and terminated the related DEFR credit facility. Additionally, Duke Energy Florida's related restricted receivables outstanding at DEFR at the time of termination totaled $459 million and were transferred back to Duke Energy Florida to be collected and reported as Receivables on the Consolidated Balance Sheets.
In January 2025, Duke Energy Carolinas repaid all outstanding DERF borrowings totaling $500 million and terminated the related DERF credit facility. Additionally, Duke Energy Carolinas' related restricted receivables outstanding at DERF at the time of termination totaled $1,081 million and were transferred back to Duke Energy Carolinas to be collected and reported as Receivables on the Consolidated Balance Sheets.
Receivables Financing – CRC
CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC bought certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC then borrowed amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility was limited to the amount of qualified receivables sold to CRC, which generally excluded receivables past due more than a predetermined number of days and reserves for expected past-due balances. The sole source of funds to satisfy the related debt obligation was cash collections from the receivables.
The proceeds Duke Energy Ohio and Duke Energy Indiana received from the sale of receivables to CRC were approximately 75% cash and 25% in the form of a subordinated note from CRC. The subordinated note was a retained interest in the receivables sold.
CRC was considered a VIE because (i) equity capitalization was insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity was not held by the equity holder and (iii) deficiencies in net worth of CRC were funded by Duke Energy. The most significant activities that impacted the economic performance of CRC were decisions made to manage delinquent receivables. Duke Energy was considered the primary beneficiary and consolidated CRC as it made these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidated CRC.
In March 2024, Duke Energy repaid all outstanding CRC borrowings totaling $350 million and terminated the related CRC credit facility. Additionally, Duke Energy's related restricted receivables outstanding at CRC at the time of termination totaled $682 million, consisting of $316 million and $366 million of restricted receivables that were transferred back to Duke Energy Indiana and Duke Energy Ohio, respectively, to be collected and reported as Receivables on the Consolidated Balance Sheets.
Receivables Financing – Credit Facilities
The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.
Duke Energy
Duke EnergyDuke EnergyDuke Energy
CarolinasProgressFlorida
(in millions)CRCDERFDEPRDEFR
Expiration date
(a)
(c)
April 2025(b)
Credit facility amount
(a)
(c)
$400 
(b)
Amounts borrowed at December 31, 2024— 500 400 — 
Amounts borrowed at December 31, 2023312 500 400 325 
Restricted Receivables at December 31, 2024— 1,054 835 — 
Restricted Receivables at December 31, 2023663 991 833 532 
(a)    In March 2024, Duke Energy repaid all outstanding CRC borrowing and terminated the related $350 million CRC credit facility.
(b)    In April 2024, Duke Energy Florida repaid all outstanding DEFR borrowing and terminated the related $325 million DEFR credit facility.
(c)    In January 2025, Duke Energy Carolinas repaid all outstanding DERF borrowing and terminated the related $500 million DERF credit
facility.
Nuclear Asset-Recovery Bonds – Duke Energy Florida Project Finance
Duke Energy Florida Project Finance, LLC (DEFPF) is a bankruptcy remote, wholly owned special purpose subsidiary of Duke Energy Florida. DEFPF was formed in 2016 for the sole purpose of issuing nuclear asset-recovery bonds to finance Duke Energy Florida's unrecovered regulatory asset related to Crystal River Unit 3.
In 2016, DEFPF issued senior secured bonds and used the proceeds to acquire nuclear asset-recovery property from Duke Energy Florida. The nuclear asset-recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable nuclear asset-recovery charge from all Duke Energy Florida retail customers until the bonds are paid in full and all financing costs have been recovered. The nuclear asset-recovery bonds are secured by the nuclear asset-recovery property and cash collections from the nuclear asset-recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Florida.
DEFPF is considered a VIE primarily because the equity capitalization is insufficient to support its operations. Duke Energy Florida has the power to direct the significant activities of the VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates DEFPF.
The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets.
December 31,
(in millions)20242023
Regulatory Assets: Current61 59 
Current Assets: Other35 37 
Other Noncurrent Assets: Regulatory assets741 803 
Current Liabilities: Other8 8 
Current maturities of long-term debt59 59 
Long-Term Debt773 831 
Storm Recovery Bonds
Duke Energy Carolinas NC Storm Funding, LLC (DECNCSF), Duke Energy Progress NC Storm Funding, LLC (DEPNCSF) and Duke Energy Progress SC Storm Funding, LLC (DEPSCSF) are bankruptcy remote, wholly owned special purpose subsidiaries of Duke Energy Carolinas and Duke Energy Progress. DECNCSF and DEPNCSF were formed in 2021 while DECSCSF was formed in 2024, all for the sole purpose of issuing storm recovery bonds to finance certain of Duke Energy Carolinas’ and Duke Energy Progress’ unrecovered regulatory assets related to storm costs incurred in North Carolina and South Carolina.
In 2021, DECNCSF and DEPNCSF issued senior secured bonds, and used the proceeds to acquire storm recovery property from Duke Energy Carolinas and Duke Energy Progress. The storm recovery property was created by state legislation and NCUC financing orders for the purpose of financing storm costs incurred in 2018 and 2019. In April 2024, DEPSCSF issued $177 million of senior secured bonds and used the proceeds to acquire storm recovery property from Duke Energy Progress. The storm recovery property was created by state legislation and a PSCSC financing order for the purpose of financing storm costs incurred from 2014 through 2022.
The storm recovery property acquired includes the right to impose, bill, collect and adjust a non-bypassable charge from all Duke Energy Carolinas’ and Duke Energy Progress’ North Carolina and South Carolina retail customers until the bonds are paid in full and all financing costs have been recovered. The storm recovery bonds are secured by the storm recovery property and cash collections from the storm recovery charges are the sole source of funds to satisfy the debt obligation. The bondholders have no recourse to Duke Energy Carolinas or Duke Energy Progress. These entities are considered VIEs primarily because their equity capitalization is insufficient to support their operations. Duke Energy Carolinas and Duke Energy Progress have the power to direct the significant activities of the VIEs as described above and therefore Duke Energy Carolinas and Duke Energy Progress are considered the primary beneficiaries. Duke Energy Carolinas consolidates DECNCSF and Duke Energy Progress consolidates DEPNCSF and DEPSCSF.
The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.
December 31, 2024December 31, 2023
Duke Energy Carolinas
Duke Energy Progress
Duke Energy Carolinas
Duke Energy Progress
(in millions)
DECNCSF
DEPNCSF
DEPSCSF
DECNCSF
DEPNCSF
Regulatory Assets: Current$12 $39 $8 $12 $39 
Current Assets: Other9 27 13 9 31 
Other Noncurrent Assets: Regulatory assets189 620 155 196 643 
Other Noncurrent Assets: Other1 4 1 1 2 
Current maturities of long-term debt10 34 9 10 34 
Current Liabilities: Other2 10 7 3 8 
Long-Term Debt198 646 163 208 680 
Purchasing Company – Duke Energy Florida
Duke Energy Florida Purchasing Company, LLC (DEF ProCo) is a wholly owned special purpose subsidiary of Duke Energy Florida. DEF ProCo was formed in 2023 as the primary procurement agent for equipment, materials and supplies for Duke Energy Florida. DEF ProCo interacts with third-party suppliers on Duke Energy Florida’s behalf with credit and risk support provided by Duke Energy Florida. DEF ProCo is a qualified reseller under Florida tax law and conveys acquired assets to Duke Energy Florida through leases on each acquired asset.
This entity is considered a VIE primarily because the equity capitalization is insufficient to support their operations. Duke Energy Florida has the power to direct the significant activities of this VIE as described above and therefore Duke Energy Florida is considered the primary beneficiary and consolidates the procurement company.
The following table summarizes the impact of this VIE on Duke Energy Florida's Consolidated Balance Sheets.
(in millions)
December 31, 2024December 31, 2023
Inventory
$494 462
Accounts Payable
208188
NON-CONSOLIDATED VIEs
The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets.
 December 31, 2024
 Duke Energy DukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $— $— 
Investments in equity method unconsolidated affiliates— — — 
Other noncurrent assets17 — — 
Total assets$17 $— $— 
Other current liabilities2 — — 
Other noncurrent liabilities— — — 
Total liabilities2 $— $— 
Net assets
$15 $— $— 
 December 31, 2023
 Duke EnergyDukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $150 $208 
Investments in equity method unconsolidated affiliates67 — — 
Other noncurrent assets43 — — 
Total assets$110 $150 $208 
Other current liabilities4 — — 
Other noncurrent liabilities5 — — 
Total liabilities$9 $— $— 
Net assets
$101 $150 $208 
The Duke Energy Registrants are not aware of any situations where the maximum exposure to loss significantly exceeds the carrying values shown above.
Natural Gas Investments
Duke Energy has investments in various joint ventures including pipeline and renewable natural gas projects. These entities are considered VIEs due to having insufficient equity to finance their own activities without subordinated financial support. Duke Energy does not have the power to direct the activities that most significantly impact the economic performance, the obligation to absorb losses or the right to receive benefits of these VIEs and therefore does not consolidate these entities.
CRC
See discussion under Consolidated VIEs for additional information related to CRC.
Amounts included in Receivables from affiliated companies in the above table for Duke Energy Ohio and Duke Energy Indiana reflect their retained interest in receivables sold to CRC as of December 31, 2023. The subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value as of December 31, 2023. Prior to Duke Energy terminating the CRC credit facility, carrying values of retained interests were determined by allocating the carrying value of the receivables between assets sold and interests retained based on relative fair value. The allocated bases of the subordinated notes were not materially different than their face value because (i) the receivables generally turned over in less than two months, (ii) credit losses were reasonably predictable due to the broad customer base and lack of significant concentration and (iii) the equity in CRC was subordinate to all retained interests and thus would absorb losses first. The hypothetical effect on fair value of the retained interests assuming both a 10% and a 20% unfavorable variation in credit losses or discount rates was not material due to the short turnover of receivables and historically low credit loss history. Interest accrued to Duke Energy Ohio and Duke Energy Indiana on the retained interests using the acceptable yield method.
Key assumptions used in estimating fair value as of December 31, 2023, are detailed in the following table.
 Duke Energy OhioDuke Energy Indiana
Anticipated credit loss ratio0.6 %0.4 %
Discount rate6.1 %6.1 %
Receivable turnover rate13.9 %12.0 %
The following table shows the gross and net receivables sold. See discussion under Consolidated VIEs for additional information related to
CRC's termination in March 2024.
 Duke Energy OhioDuke Energy Indiana
December 31,December 31,
(in millions)2024202320242023
Receivables sold$— $361 $— $351 
Less: Retained interests— 150 — 208 
Net receivables sold$— $211 $— $143 
The following table shows sales and cash flows related to receivables sold and reflects CRC activity prior to its termination in March 2024.
 Duke Energy OhioDuke Energy Indiana
 Years Ended December 31,Years Ended December 31,
(in millions)202420232022202420232022
Sales      
Receivables sold$474 $2,578 $2,562 $473 $3,223 $3,744 
Loss recognized on sale7 34 18 6 39 26 
Cash flows  
Cash proceeds from receivables sold478 2,591 2,424 523 3,294 3,498 
Collection fees received— 1 1 — 2 2 
Return received on retained interests4 19 10 4 25 15 
Cash flows from sales of receivables are reflected within Cash Flows From Operating Activities and Cash Flows from Investing Activities on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Cash Flows.
Collection fees received in connection with servicing transferred accounts receivable were included in Operation, maintenance and other on Duke Energy Ohio’s and Duke Energy Indiana’s Consolidated Statements of Operations and Comprehensive Income. The loss recognized on sales of receivables was calculated monthly by multiplying receivables sold during the month by the required discount. The required discount was derived monthly utilizing a three-year weighted average formula that considered charge-off history, late charge history and turnover history on the sold receivables, as well as a component for the time value of money. The discount rate, or component for the time value of money, was the prior month-end Daily Simple SOFR plus a fixed rate of 1%.
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Revenue
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
Duke Energy recognizes revenue consistent with amounts billed under tariff offerings or at contractually agreed upon rates based on actual physical delivery of electric or natural gas service, including estimated volumes delivered when billings have not yet occurred. As such, the majority of Duke Energy’s revenues have fixed pricing based on the contractual terms of the published tariffs. Absent decoupling mechanisms, the variability in expected cash flows of the majority of Duke Energy's revenue is attributable to the customer’s volumetric demand and ultimate quantities of energy or natural gas supplied and used during the billing period. The stand-alone selling price of related sales are designed to support recovery of prudently incurred costs and an appropriate return on invested assets and are primarily governed by published tariff rates or contractual agreements approved by relevant regulatory bodies. As described in Note 1, certain excise taxes and franchise fees levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis as part of revenues. Duke Energy elects to account for all other taxes net of revenues.
Performance obligations are satisfied over time as energy or natural gas is delivered and consumed with billings generally occurring monthly and related payments due within 30 days, depending on regulatory requirements. In no event does the timing between payment and delivery of the goods and services exceed one year. Using this output method for revenue recognition provides a faithful depiction of the transfer of electric and natural gas service as customers obtain control of the commodity and benefit from its use at delivery. Additionally, Duke Energy has an enforceable right to consideration for energy or natural gas delivered at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which Duke Energy is entitled for the energy or natural gas delivered.
As described above, the majority of Duke Energy’s tariff revenues are at will and, as such, related contracts with customers have an expected duration of one year or less and will not have future performance obligations for disclosure. Additionally, other long-term revenue streams, including wholesale contracts, generally provide services that are part of a single performance obligation, the delivery of electricity or natural gas. As such, other than material fixed consideration under long-term contracts, related disclosures for future performance obligations are also not applicable.
Duke Energy earns substantially all of its revenues through its reportable segments, EU&I and GU&I.
Electric Utilities and Infrastructure
EU&I earns the majority of its revenues through retail and wholesale electric service through the generation, transmission, distribution and sale of electricity. Duke Energy generally provides retail and wholesale electric service customers with their full electric load requirements or with supplemental load requirements when the customer has other sources of electricity.
Retail electric service is generally marketed throughout Duke Energy’s electric service territory through standard service offers. The standard service offers are through tariffs determined by regulators in Duke Energy's regulated service territory. Each tariff, which is assigned to customers based on customer class, has multiple components such as an energy charge, a demand charge, a basic facilities charge and applicable riders. Duke Energy considers each of these components to be aggregated into a single performance obligation for providing electric service, or in the case of distribution only customers in Duke Energy Ohio, for delivering electricity. Electricity is considered a single performance obligation satisfied over time consistent with the series guidance and is provided and consumed over the billing period, generally one month. Retail electric service is typically provided to at-will customers who can cancel service at any time, without a substantive penalty. Additionally, Duke Energy adheres to applicable regulatory requirements in each jurisdiction to ensure the collectability of amounts billed and appropriate mitigating procedures are followed when necessary. As such, revenue from contracts with customers for such contracts is equivalent to the electricity supplied and billed in that period (including unbilled estimates).
Wholesale electric service is generally provided under long-term contracts using cost-based pricing. FERC regulates costs that may be recovered from customers and the amount of return companies are permitted to earn. Wholesale contracts include both energy and demand charges. For full requirements contracts, Duke Energy considers both charges as a single performance obligation for providing integrated electric service. For contracts where energy and demand charges are considered separate performance obligations, energy and demand are each a distinct performance obligation under the series guidance and are satisfied as energy is delivered and stand-ready service is provided on a monthly basis. This service represents consumption over the billing period and revenue is recognized consistent with billings and unbilled estimates, which generally occur monthly. Contractual amounts owed are typically trued up annually based upon incurred costs in accordance with FERC published filings and the specific customer’s actual peak demand. Estimates of variable consideration related to potential additional billings or refunds owed are updated quarterly.
The majority of wholesale revenues are full requirements contracts where the customers purchase the substantial majority of their energy needs and do not have a fixed quantity of contractually required energy or capacity. As such, related forecasted revenues are considered optional purchases. Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:
Remaining Performance Obligations
(in millions)20252026202720282029ThereafterTotal
Duke Energy Carolinas$12 $12 $12 $12 $— $— $48 
Progress Energy36 43 13 13 13 42 160 
Duke Energy Progress6 6 6 6 6 20 50 
Duke Energy Florida30 37 7 7 7 22 110 
Duke Energy Indiana17 17 15 5 — — 54 
Revenues for block sales are recognized monthly as energy is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates.
Gas Utilities and Infrastructure
GU&I earns its revenue through retail and wholesale natural gas service through the transportation, distribution and sale of natural gas. Duke Energy generally provides retail and wholesale natural gas service customers with all natural gas load requirements. Additionally, while natural gas can be stored, substantially all natural gas provided by Duke Energy is consumed by customers simultaneously with receipt of delivery.
Retail natural gas service is marketed throughout Duke Energy's natural gas service territory using published tariff rates. The tariff rates are established by regulators in Duke Energy's service territories. Each tariff, which is assigned to customers based on customer class, have multiple components, such as a commodity charge, demand charge, customer or monthly charge and transportation costs. Duke Energy considers each of these components to be aggregated into a single performance obligation for providing natural gas service. For contracts where Duke Energy provides all of the customer’s natural gas needs, the delivery of natural gas is considered a single performance obligation satisfied over time, and revenue is recognized monthly based on billings and unbilled estimates as service is provided and the commodity is consumed over the billing period. Additionally, natural gas service is typically at will and customers can cancel service at any time, without a substantive penalty. Duke Energy also adheres to applicable regulatory requirements to ensure the collectability of amounts billed and receivable and appropriate mitigating procedures are followed when necessary.
Certain long-term individually negotiated contracts exist to provide natural gas service. These contracts are regulated and approved by state commissions. The negotiated contracts may have multiple components, including a natural gas and a demand charge, similar to retail natural gas contracts. Duke Energy considers each of these components to be a single performance obligation for providing natural gas service. This service represents consumption over the billing period, generally one month.
Fixed capacity payments under long-term contracts for the GU&I segment include minimum margin contracts and supply arrangements with municipalities and power generation facilities. Revenues for related sales are recognized monthly as natural gas is delivered and stand-ready service is provided, consistent with invoiced amounts and unbilled estimates. Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20252026202720282029ThereafterTotal
Piedmont$64 $51 $49 $46 $44 $151 $405 
Other
The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers.
Disaggregated Revenues
For the EU&I and GU&I segments, revenue by customer class is most meaningful to Duke Energy as each respective customer class collectively represents unique customer expectations of service, generally has different energy and demand requirements, and operates under tailored, regulatory approved pricing structures. Additionally, each customer class is impacted differently by weather and a variety of economic factors including the level of population growth, economic investment, employment levels, and regulatory activities in each of Duke Energy’s jurisdictions. As such, analyzing revenues disaggregated by customer class allows Duke Energy to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. Disaggregated revenues are presented as follows:
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$12,901 $4,150 $6,592 $2,872 $3,720 $1,009 $1,149 $— 
Commercial
8,207 3,080 3,718 1,754 1,964 590 818 — 
Industrial3,427 1,488 1,066 742 324 149 724 — 
Wholesale2,205 547 1,414 1,268 146 51 194 — 
Other revenues1,029 350 674 343 331 89 107 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$27,769 $9,615 $13,464 $6,979 $6,485 $1,888 $2,992 $— 
Gas Utilities and Infrastructure
Residential$1,320 $— $— $— $— $427 $— $893 
Commercial639 — — — — 153 — 486 
Industrial158 — — — — 33 — 125 
Power Generation— — — — — — — 33 
Other revenues126 — — — — 26 — 100 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,243 $— $— $— $— $639 $— $1,637 
Other
Revenue from contracts with customers$38 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$30,050 $9,615 $13,464 $6,979 $6,485 $2,527 $2,992 $1,637 
Other revenue sources(a)
$307 $103 $169 $38 $110 $18 $48 $92 
Total revenues$30,357 $9,718 $13,633 $7,017 $6,595 $2,545 $3,040 $1,729 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$12,098 $3,409 $6,510 $2,540 $3,970 $947 $1,233 $— 
Commercial
7,895 2,670 3,762 1,588 2,174 552 911 — 
Industrial3,416 1,334 1,105 733 372 191 786 — 
Wholesale2,175 492 1,388 1,240 148 46 248 — 
Other revenues962 318 590 325 265 93 157 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$26,546 $8,223 $13,355 $6,426 $6,929 $1,829 $3,335 $— 
Gas Utilities and Infrastructure
Residential$1,226 $— $— $— $— $435 $— $792 
Commercial605 — — — — 154 — 450 
Industrial141 — — — — 26 — 115 
Power Generation— — — — — — — 31 
Other revenues119 — — — — 24 — 95 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,091 $— $— $— $— $639 $— $1,483 
Other
Revenue from contracts with customers$37 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,674 $8,223 $13,355 $6,426 $6,929 $2,468 $3,335 $1,483 
Other revenue sources(a)
$386 $65 $189 $62 $107 $39 $64 $145 
Total revenues$29,060 $8,288 $13,544 $6,488 $7,036 $2,507 $3,399 $1,628 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$11,377 $3,275 $5,812 $2,378 $3,434 $862 $1,430 $— 
Commercial
7,356 2,396 3,396 1,480 1,916 517 1,049 — 
Industrial3,504 1,251 1,095 770 325 202 956 — 
Wholesale2,856 561 1,785 1,346 439 127 383 — 
Other revenues795 372 994 768 226 61 19 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$25,888 $7,855 $13,082 $6,742 $6,340 $1,769 $3,837 $— 
Gas Utilities and Infrastructure
Residential$1,462 $— $— $— $— $488 $— $974 
Commercial765 — — — — 180 — 585 
Industrial170 — — — — 24 — 144 
Power Generation— — — — — — — 94 
Other revenues360 — — — — 25 — 271 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,757 $— $— $— $— $717 $— $2,068 
Other
Revenue from contracts with customers$30 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,675 $7,855 $13,082 $6,742 $6,340 $2,486 $3,837 $2,068 
Other revenue sources(a)
$93 $2 $43 $11 $13 $28 $85 $56 
Total revenues$28,768 $7,857 $13,125 $6,753 $6,353 $2,514 $3,922 $2,124 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
The following table presents the reserve for credit losses for trade and other receivables.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$121 $42 $36 $21 $16 $4 $3 $15 
Write-Offs(158)(73)(70)(36)(34)— — (12)
Credit Loss Expense160 40 72 17 55 2 1 11 
Other Adjustments93 59 43 42 (1)— — — 
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(164)(71)(84)(41)(42)— — (10)
Credit Loss Expense101 35 48 12 37 3 1 7 
Other Adjustments52 24 29 29 — — — — 
Balance at December 31, 2023$205 $56 $74 $44 $31 $9 $5 $11 
Write-Offs(132)(55)(73)(45)(28)— — (4)
Credit Loss Expense98 39 51 25 26 3 2 3 
Other Adjustments38 29 21 20 — 31 8 — 
Balance at December 31, 2024$209 $69 $73 $44 $29 $43 $15 $10 
Trade and other receivables are evaluated based on an estimate of the risk of loss over the life of the receivable and current and historical conditions using supportable assumptions. Management evaluates the risk of loss for trade and other receivables by comparing the historical write-off amounts to total revenue over a specified period. Historical loss rates are adjusted due to the impact of current conditions, as well as forecasted conditions over a reasonable time period. The calculated write-off rate can be applied to the receivable balance for which an established reserve does not already exist. Management reviews the assumptions and risk of loss periodically for trade and other receivables.
v3.25.0.1
Stockholders' Equity
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITY
Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as equity forward sale agreements or convertible debt, were exercised or settled. Duke Energy applies the if-converted method for calculating any potential dilutive effect of the conversion of the outstanding convertible notes on diluted EPS, if applicable. Duke Energy’s participating securities are RSUs that are entitled to dividends declared on Duke Energy common stock during the RSUs vesting periods. Dividends declared on preferred stock are recorded on the Consolidated Statements of Operations as a reduction of net income to arrive at net income available to Duke Energy common stockholders. Dividends accumulated on preferred stock are an adjustment to net income used in the calculation of basic and diluted EPS.
The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.
Years Ended December 31,
(in millions, except per share amounts)202420232022
Net Income available to Duke Energy common stockholders$4,402 $2,735 $2,444 
Less: Income (Loss) from discontinued operations attributable to Duke Energy common stockholders
7 (1,391)(1,215)
Accumulated preferred stock dividends adjustment14 — — 
Less: Impact of participating securities6 6 2 
Income from continuing operations available to Duke Energy common stockholders$4,403 $4,120 $3,657 
Income (Loss) from discontinued operations, net of tax
$10 $(1,455)$(1,323)
Add: (Income) Loss attributable to NCI
(3)64 108 
Income (Loss) from discontinued operations attributable to Duke Energy common stockholders
$7 $(1,391)$(1,215)
Weighted average common shares outstanding – basic and diluted
772 771 770 
EPS from continuing operations available to Duke Energy common stockholders
Basic and Diluted(a)
$5.70 $5.35 $4.74 
Earnings (Loss) Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and Diluted(a)
$0.01 $(1.81)$(1.57)
Potentially dilutive items excluded from the calculation(b)
2 2 2 
Dividends declared per common share$4.14 $4.06 $3.98 
Dividends declared on Series A preferred stock per depositary share(c)
$1.437 $1.437 $1.437 
Dividends declared on Series B preferred stock per share(d)
$48.750 $48.750 $48.750 
(a)    For the periods presented subsequent to issuance in April 2023, the convertible notes were excluded from the calculations of diluted
EPS because the effect was antidilutive.
(b)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.
(c)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.
(d)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends were payable semiannually in arrears on the 16th day of March and September. The preferred stock was redeemed on September 16, 2024.
Common Stock
In November 2022, Duke Energy filed a prospectus supplement and executed an Equity Distribution Agreement (EDA) under which it may sell up to $1.5 billion of its common stock through an ATM offering program, including an equity forward sales component. Under the terms of the EDA, Duke Energy may issue and sell shares of common stock through September 2025.
The following table shows ATM equity issuances pursuant to forward contracts executed during the year ended December 31, 2024.
Tranche
Shares Priced
Initial Forward Price
1
802,371$92.77 
2
729,674$101.10 
3
737,280$100.99 
4
662,266$111.45 
Total
2,931,591
In December 2024, Duke Energy physically settled the equity forwards by delivering approximately 2.9 million shares of common stock in exchange for net cash proceeds of $297 million. Additionally, in December 2024, a fifth and final tranche of ATM equity issuances delivered 671,216 shares of common stock in exchange for net cash proceeds of $74 million, resulting in a total of 3.6 million shares of common stock issued in exchange for total cash proceeds of $371 million for the year ended December 31, 2024.
Preferred Stock
On September 16, 2024, Duke Energy redeemed all 1 million outstanding shares of Series B Preferred Stock for a redemption price of $1,000 per share or $1 billion in total. Following the redemption, dividends ceased to accrue on the shares of Series B Preferred Stock, shares of the Series B Preferred Stock were no longer deemed outstanding and all rights of the holders of such shares of Series B Preferred Stock terminated. In conjunction with the redemption, Duke Energy recorded $16 million in preferred stock redemption costs, calculated as the difference of $11 million between the carrying value on the redemption date of the Series B Preferred Stock and the total amount of consideration paid to redeem, and including the recognition of an excise tax liability under the IRA of $5 million. The preferred stock redemption costs were recorded as a reduction to Retained earnings on Duke Energy Corporation's Consolidated Balance Sheets during the year ended December 31, 2024.
The Series A Preferred Stock has no maturity or mandatory redemption date, is not redeemable at the option of the holders and Duke Energy may call the preferred stock, in whole or in part, at any time at a redemption price of $25 per depositary share. Duke Energy is also required to redeem all accumulated and unpaid dividends if the call option is exercised.
Dividends issued on its Series A Preferred Stock are subject to approval by the Board of Directors. However, the deferral of dividend payments on the preferred stock prohibits the declaration of common stock dividends.
The Series A Preferred Stock rank, with respect to dividends and distributions upon liquidation or dissolution:
•senior to Common Stock and to each other class or series of capital stock established after the original issue date of the Series A Preferred Stock that is expressly made subordinated to the Series A Preferred Stock;
•on a parity with any class or series of capital stock established after the original issue date of the Series A Preferred Stock that is not expressly made senior or subordinated to the Series A Preferred Stock;
•junior to any class or series of capital stock established after the original issue date of the Series A Preferred Stock that is expressly made senior to the Series A Preferred Stock;
•junior to all existing and future indebtedness (including indebtedness outstanding under Duke Energy's credit facilities, unsecured senior notes, junior subordinated debentures and commercial paper) and other liabilities with respect to assets available to satisfy claims against Duke Energy; and
•structurally subordinated to existing and future indebtedness and other liabilities of Duke Energy's subsidiaries and future preferred stock of subsidiaries.
Holders of Series A Preferred Stock have no voting rights with respect to matters that generally require the approval of voting stockholders. The limited voting rights of holders of Series A Preferred Stock include the right to vote as a single class, respectively, on certain matters that may affect the preference or special rights of the preferred stock, except in the instance that Duke Energy elects to defer the payment of dividends for a total of six quarterly full dividend periods for Series A Preferred Stock. If dividends are deferred for a cumulative total of six quarterly full dividend periods for Series A Preferred Stock, whether or not for consecutive dividend periods, holders of the preferred stock have the right to elect two additional Board members to the Board of Directors.
v3.25.0.1
Severance
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Severance SEVERANCE
During 2023, as Duke Energy transitioned from the foundational work of energy transition strategy planning to the launch of the largest power generation build period in its history, it streamlined certain functions and changed how it was structured and staffed to ensure the resulting organization reflected best-in-class standards, was optimally aligned with its jurisdictions, and was best positioned to serve its customers, stakeholders and investors. As a result, Duke Energy extended involuntary severance benefits to certain employees in specific areas as a part of its organizational optimization. For the year ended December 31, 2023, Duke Energy recorded severance charges of approximately $97 million within Operations, maintenance and other on the Consolidated Statements of Operations. These charges, along with amortization of severance regulatory deferrals and reversals of certain prior period severance costs, resulted in a total severance charge of $102 million in 2023.
During 2022, Duke Energy identified opportunities to eliminate work and create sustainable savings through a workload reduction initiative with a focus on process improvement through digital technology, governance simplification and elimination of low-value work. As a result, Duke Energy extended involuntary severance benefits to certain employees in specific areas as a part of this initiative.
The following table presents the direct and allocated severance and related charges accrued for 341 employees in 2024, 682 employees in 2023 and 233 employees in 2022 by the Duke Energy Registrants within Operation, maintenance and other on the Consolidated Statements of Operations.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Year Ended December 31, 2024(a)(b)
$(28)$(11)$(9)$(5)$(4)$(2)$(4)$(2)
Year Ended December 31, 2023(c)(d)(e)
102 53 33 21 12 3 6 4 
Year Ended December 31, 2022(f)(g)
65 40 20 17 3 1 2 2 
(a)    Includes adjustments associated with 2022 severance charges of approximately $(1) million and $(1) million for Duke Energy and Duke Energy Carolinas, respectively.
(b)    Includes adjustments associated with 2023 severance charges of approximately $(27) million, $(11) million, $(9) million, $(5) million, $(4) million, $(2) million, $(4) million and $(2) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont, respectively.
(c)    Includes amortization of deferred severance charges of approximately $22 million, $14 million, $8 million and $8 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(d)    Includes adjustments associated with 2021 severance charges of approximately $(6) million, $(2) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively.
(e)    Includes adjustments associated with 2022 severance charges of approximately $(14) million, $(7) million, $(5) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively.
(f)    Includes amortization of deferred severance charges of approximately $33 million, $22 million, $11 million and $11 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(g)    Includes adjustments associated with 2021 severance charges of approximately $(19) million, $(6) million, $(8) million, $(4) million, $(4) million, $(1) million, $(2) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont, respectively.
The table below presents the severance liability for past and ongoing severance plans including the plans described above.
DukeDukeDuke
Duke
Duke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)Energy
Carolinas
EnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2022
$64 $15 $6 $4 $2 $— $— $1 
Provision/Adjustments80 30 13 6 7 1 4 2 
Cash Reductions(42)(10)(3)(2)(1)— — (1)
Balance at December 31, 2023$102 $35 $16 $8 $8 $1 $4 $2 
Provision/Adjustments(28)(6)(3)(1)(2)(1)(3)(1)
Cash Reductions(55)(21)(11)(6)(5)— (1)(1)
Balance at December 31, 2024$19 $8 $2 $1 $1 $— $— $— 
v3.25.0.1
Stock-Based Compensation
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Stock-Based Compensation STOCK-BASED COMPENSATION
The Duke Energy Corporation 2023 Long-Term Incentive Plan (the 2023 Plan) provides for the grant of stock-based compensation awards to employees and outside directors. The 2023 Plan superseded the Duke Energy Corporation 2015 Long-Term Incentive Plan (the 2015 Plan). No additional grants will be made from the 2015 Plan. The 2023 Plan reserves 15 million shares of common stock for issuance. Duke Energy has historically issued new shares upon exercising or vesting of share-based awards. However, Duke Energy may use a combination of new share issuances and open market repurchases for share-based awards that are exercised or vest in the future. Duke Energy has not determined with certainty the amount of such new share issuances or open market repurchases.
The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation.
 Years Ended December 31,
(in millions)202420232022
Duke Energy$70 $71 $74 
Duke Energy Carolinas25 25 27 
Progress Energy28 28 27 
Duke Energy Progress17 17 17 
Duke Energy Florida11 11 10 
Duke Energy Ohio5 5 5 
Duke Energy Indiana7 7 7 
Piedmont4 4 4 
Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense and stock-based compensation costs capitalized are included in the following table.
 Years Ended December 31,
(in millions)202420232022
RSU awards$49 $54 $58 
Performance awards47 43 42 
Pretax stock-based compensation cost$96 $97 $100 
Stock-based compensation costs capitalized6 6 5 
Stock-based compensation expense$90 $91 $95 
Tax benefit associated with stock-based compensation expense$20 $20 $21 
RESTRICTED STOCK UNIT AWARDS
RSU awards generally vest over periods from immediate to three years. Fair value amounts are based on the market price of Duke Energy's common stock on the grant date. The following table includes information related to RSU awards.
 Years Ended December 31,
 202420232022
Shares granted (in thousands) 598 670 654 
Fair value (in millions)$59 $65 $64 
The following table summarizes information about RSU awards outstanding.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2023
1,115 $96 
Granted598 99 
Vested(581)95 
Forfeited(73)98 
Outstanding at December 31, 2024
1,059 98 
RSU awards expected to vest1,014 98 
The total grant date fair value of shares vested during the years ended December 31, 2024, 2023 and 2022, was $55 million, $52 million and $49 million, respectively. At December 31, 2024, Duke Energy had $37 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 24 months.
PERFORMANCE AWARDS
Stock-based performance awards generally vest after three years to the extent performance targets are met. The actual number of shares issued will range from zero to 200% of target shares, depending on the level of performance achieved.
Performance awards contain performance conditions and a market condition. The performance conditions are based on Duke Energy's cumulative adjusted EPS and total incident case rate (total incident case rate is one of our key employee safety metrics). The market condition is based on TSR of Duke Energy relative to a predefined peer group.
Relative TSR is valued using a path-dependent model that incorporates expected relative TSR into the fair value determination of Duke Energy’s performance-based share awards. The model uses three-year historical volatilities and correlations for all companies in the predefined peer group, including Duke Energy, to simulate Duke Energy’s relative TSR as of the end of the performance period. For each simulation, Duke Energy’s relative TSR associated with the simulated stock price at the end of the performance period plus expected dividends within the period results in a value per share for the award portfolio. The average of these simulations is the expected portfolio value per share. Actual life to date results of Duke Energy’s relative TSR for each grant are incorporated within the model. For performance awards granted in 2024, the model used a risk-free interest rate of 4.49%, which reflects the yield on three-year Treasury bonds as of the grant date, and an expected volatility of 18.7% based on Duke Energy's historical volatility over three years using daily stock prices.
The following table includes information related to stock-based performance awards.
 Years Ended December 31,
 202420232022
Shares granted assuming target performance (in thousands)440 422 408 
Fair value (in millions)$42 $42 $40 
The following table summarizes information about stock-based performance awards outstanding and assumes payout at the target level.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2023
1,115 $96 
Granted440 95 
Vested(338)88 
Forfeited(30)96 
Outstanding at December 31, 2024
1,187 98 
Stock-based performance awards expected to vest1,156 98 
The total grant date fair value of shares vested during the years ended December 31, 2024, 2023 and 2022, was $30 million, $31 million and $25 million, respectively. At December 31, 2024, Duke Energy had $24 million of unrecognized compensation cost, which is expected to be recognized over a weighted average period of 22 months.
v3.25.0.1
Employee Benefit Plans
 12 Months Ended
Dec. 31, 2024
Retirement Benefits [Abstract]  
Employee Benefit Plans EMPLOYEE BENEFIT PLANS
DEFINED BENEFIT RETIREMENT PLANS
Duke Energy and certain subsidiaries maintain, and the Subsidiary Registrants participate in, qualified, non-contributory defined benefit retirement plans, which consist of the Duke Energy Retirement Cash Balance Plan (RCBP) and the Duke Energy Legacy Pension Plan (DELPP) These plans cover most employees using a cash balance formula. Under a cash balance formula, a plan participant accumulates a retirement benefit consisting of pay credits based upon a percentage of current eligible earnings, age or age and years of service and interest credits. Certain employees are eligible for benefits that use a final average earnings formula. Under these final average earnings formulas, a plan participant accumulates a retirement benefit equal to the sum of percentages of their (i) highest three-, four- or five-year average earnings, (ii) highest three-, four- or five-year average earnings in excess of covered compensation per year of participation (maximum of 35 years) or (iii) highest three-year average earnings times years of participation in excess of 35 years. Duke Energy also maintains, and the Subsidiary Registrants participate in, non-qualified, non-contributory defined benefit retirement plans that cover certain executives. The qualified and non-qualified, non-contributory defined benefit plans are closed to new participants.
Duke Energy uses a December 31 measurement date for its defined benefit retirement plan assets and obligations. Actuarial gains experienced by the defined benefit retirement plans in remeasuring plan obligations as of December 31, 2024, were primarily attributable to the increase in the discount rate used to measure plan obligations. Actuarial losses experienced by the defined benefit retirement plans in remeasuring plan assets as of December 31, 2024, were primarily attributable to actual investment performance that was less than expected investment performance. Actuarial gains experienced by the defined benefit retirement plans in remeasuring plan assets on December 31, 2023, were primarily attributable to actual investment performance that exceeded expected investment performance. Actuarial losses experienced by the defined benefit retirement plans in remeasuring plan obligations as of December 31, 2023, were primarily attributable to the decrease in the discount rate used to measure plan obligations.
As a result of the application of settlement accounting due to total lump-sum benefit payments exceeding the settlement threshold (defined as the sum of service cost and interest cost on projected benefit obligation components of net periodic benefit costs) for one of its qualified pension plans, Duke Energy recognized settlement charges of $72 million, of which $60 million was recorded to Regulatory Assets within Other Noncurrent Assets on the Consolidated Balance Sheets and $12 million was recorded to Other income and expenses, net, within the Consolidated Statement of Operations as of, and for the year ended, December 31, 2024. No settlement charges were recorded in 2023. Duke Energy recognized settlement charges of $117 million, of which $95 million was recorded to Regulatory Assets within Other Noncurrent Assets on the Consolidated Balance Sheets and $22 million was recorded to Other income and expenses, net, within the Consolidated Statement of Operations as of, and for the year ended, December 31, 2022.
Settlement charges recognized by the Subsidiary Registrants as of December 31, 2024, which represents amounts allocated by Duke Energy for employees of the Subsidiary Registrants and allocated charges for their proportionate share of settlement charges for employees of Duke Energy's shared service affiliate, and recorded to Regulatory Assets within Other Noncurrent Assets on the Consolidated Balance Sheets were $31 million for Duke Energy Carolinas, $23 million for Progress Energy, $16 million for Duke Energy Progress, $7 million for Duke Energy Florida, $3 million for Duke Energy Indiana, and $4 million for Piedmont. Settlement charges recognized by the Subsidiary Registrants as of December 31, 2024, recorded to Other income and expenses, net, within the 2024 Consolidated Statements of Operations were $3 million for Duke Energy Carolinas, $5 million for Progress Energy, $5 million for Duke Energy Progress, $2 million for Duke Energy Ohio and $1 million for Piedmont.
Settlement charges recognized by the Subsidiary Registrants as of December 31, 2022, which represent amounts allocated by Duke Energy for employees of the Subsidiary Registrants and allocated charges for their proportionate share of settlement charges for employees of Duke Energy's shared services affiliate, and recorded to Regulatory Assets within Other Noncurrent Assets on the Consolidated Balance Sheets were $35 million for Duke Energy Carolinas, $23 million for Progress Energy, $16 million for Duke Energy Progress, $7 million for Duke Energy Florida, $8 million for Duke Energy Indiana and $29 million for Piedmont. Settlement charges recognized by the Subsidiary Registrants as of December 31, 2022, recorded to Other income and expenses, net, within the 2022 Consolidated Statements of Operations were $3 million for Duke Energy Carolinas, $5 million for Progress Energy, $5 million for Duke Energy Progress, $1 million for Duke Energy Florida, $5 million for Duke Energy Ohio and $6 million for Piedmont.
The settlement charges reflect the recognition of a pro-rata portion of previously unrecognized actuarial losses, equal to the percentage of reduction in the projected benefit obligation resulting from total lump-sum benefit payments. Settlement charges recognized as a regulatory asset within Other Noncurrent Assets on the Consolidated Balance Sheets are amortized over the average remaining service period for participants in the plan. Amortization of settlement charges is disclosed in the tables below as a component of net periodic pension costs.
Effective December 31, 2022, Duke Energy Florida changed its method for calculating the market related value of plan assets (MRVA) from the fair value method to a method that recognizes changes in fair value of its plan assets over a five-year period. This represents a change in regulatory treatment that will serve to mitigate the impact of market volatility on retail customer rates, resulting in the timing of net periodic pension cost recognition that is more consistent with treatment of the related cost in the ratemaking process. The three-year retrospective impact of this method change of $24 million was recognized by Duke Energy, Progress Energy and Duke Energy Florida, respectively, and was recorded to Other income and expenses, net, within the Consolidated Statement of Operations as of December 31, 2022, and has been disclosed in the tables below as a component of net periodic pension costs.
Net periodic benefit costs disclosed in the tables below represent the cost of the respective benefit plan for the periods presented prior to capitalization of amounts reflected as Net property, plant and equipment, on the Consolidated Balance Sheets. Only the service cost component of net periodic benefit costs is eligible to be capitalized. The remaining non-capitalized portions of net periodic benefit costs are classified as either: (1) service cost, which is recorded in Operations, maintenance and other on the Consolidated Statements of Operations; or as (2) components of non-service cost, which is recorded in Other income and expenses, net on the Consolidated Statements of Operations. Amounts presented in the tables below for the Subsidiary Registrants represent the amounts of pension and other post-retirement benefit cost allocated by Duke Energy for employees of the Subsidiary Registrants. Additionally, the Consolidated Statements of Operations of the Subsidiary Registrants also include allocated net periodic benefit costs for their proportionate share of pension and post-retirement benefit cost for employees of Duke Energy’s shared services affiliate that provide support to the Subsidiary Registrants. However, in the tables below, these amounts are only presented within the Duke Energy column (except for amortization of settlement charges). These allocated amounts are included in the governance and shared service costs discussed in Note 14.
Duke Energy’s policy is to fund amounts on an actuarial basis to provide assets sufficient to meet benefit payments to be paid to plan participants. The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2024$100 $26 $23 $14 $9 $5 $8 $3 
2023100 26 22 13 9 5 8 3 
202258 15 13 8 5 3 5 2 
QUALIFIED PENSION PLANS
Components of Net Periodic Pension Costs
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$114 $37 $32 $19 $13 $3 $6 $4 
Interest cost on projected benefit obligation325 78 103 47 56 17 26 9 
Expected return on plan assets(613)(161)(217)(99)(116)(25)(42)(20)
Amortization of actuarial loss36 8 10 6 5 1 4 3 
Amortization of prior service credit(13)(1)— — — — (2)(7)
Amortization of settlement charges(c)
32 12 10 9 2 2 2 5 
Net periodic pension costs(a)(b)
$(119)$(27)$(62)$(18)$(40)$(2)$(6)$(6)
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$117 $38 $33 $19 $13 $3 $6 $4 
Interest cost on projected benefit obligation344 84 107 49 57 18 27 9 
Expected return on plan assets(588)(160)(198)(93)(104)(24)(40)(20)
Amortization of actuarial loss10 2 4 2 2 — 2 — 
Amortization of prior service credit(14)(1)— — — — (2)(7)
Amortization of settlement charges19 9 5 3 1 — 1 4 
Net periodic pension costs(a)(b)
$(112)$(28)$(49)$(20)$(31)$(3)$(6)$(10)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$152 $48 $43 $25 $17 $4 $9 $5 
Interest cost on projected benefit obligation249 59 77 35 41 13 20 8 
Expected return on plan assets(558)(152)(183)(88)(94)(23)(37)(24)
Amortization of actuarial loss81 16 23 12 12 4 9 5 
Amortization of prior service credit(18)(3)— — — — (2)(7)
Amortization of settlement charges(c)
32 9 8 7 1 5 1 7 
MRVA method change24 — 24 — 24 — — — 
Net periodic pension costs(a)(b)
$(38)$(23)$(8)$(9)$1 $3 $— $(6)
(a)    Duke Energy amounts exclude $2 million, $3 million and $3 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(c)    Includes settlement charges not deferred as a regulatory asset.
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase
$147 $39 $33 $1 $31 $11 $6 $16 
Accumulated other comprehensive loss (income)
Deferred income tax benefit
$3 $— $— $— $— $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(12)— 1 — — — (2)— 
Net amount recognized in accumulated other comprehensive income
$(8)$— $1 $— $— $— $(2)$— 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$5 $(14)$8 $— $9 $(3)$(2)$13 
Accumulated other comprehensive loss (income)
Amortization of prior year actuarial losses(2)— — — — — — — 
Net amount recognized in accumulated other comprehensive income
$(2)$— $— $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $6,299 $1,514 $1,990 $911 $1,069 $325 $496 $175 
Service cost107 36 30 18 12 3 6 4 
Interest cost325 78 103 47 56 17 26 9 
Actuarial (gain)/loss
(106)(13)(50)(27)(22)(3)(16)5 
Benefits paid(645)(177)(198)(111)(88)(33)(41)(12)
Transfers— 6 — — — — — — 
Obligation at measurement date$5,980 $1,444 $1,875 $838 $1,027 $309 $471 $181 
Accumulated Benefit Obligation at measurement date$5,948 $1,444 $1,861 $838 $1,013 $304 $466 $181 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$7,162 $1,853 $2,453 $1,120 $1,316 $326 $514 $213 
Employer contributions100 26 23 14 9 5 8 3 
Actual return on plan assets270 73 98 46 53 11 17 10 
Benefits paid(645)(177)(198)(111)(88)(33)(41)(12)
Transfers— 6 — — — — — — 
Plan assets at measurement date$6,887 $1,781 $2,376 $1,069 $1,290 $309 $498 $214 
Funded status of plan$907 $337 $501 $231 $263 $— $27 $33 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $6,358 $1,554 $1,975 $909 $1,055 $333 $499 $170 
Service cost110 36 30 18 12 3 6 3 
Interest cost344 84 107 49 57 18 27 9 
Actuarial loss
94 11 47 18 29 2 4 9 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Obligation at measurement date$6,299 $1,514 $1,990 $911 $1,069 $325 $496 $175 
Accumulated Benefit Obligation at measurement date$6,267 $1,517 $1,975 $912 $1,053 $317 $494 $176 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$6,993 $1,815 $2,371 $1,083 $1,271 $323 $501 $203 
Employer contributions100 26 22 13 9 5 8 3 
Actual return on plan assets676 183 229 107 120 29 45 23 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Plan assets at measurement date$7,162 $1,853 $2,453 $1,120 $1,316 $326 $514 $213 
Funded status of plan$863 $339 $463 $209 $247 $1 $18 $38 
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$907 $337 $501 $231 $263 $74 $101 $33 
Noncurrent pension liability(b)
$— $— $— $— $— $74 $74 $— 
Net asset (liability) recognized$907 $337 $501 $231 $263 $— $27 $33 
Regulatory assets$2,168 $570 $711 $354 $356 $100 $182 $113 
Accumulated other comprehensive income (loss)
 
Deferred income tax benefit$(24)$— $(1)$— $— $— $— $— 
Net actuarial loss115 — 4 — — — — — 
Net amounts recognized in accumulated other comprehensive income
$91 $— $3 $— $— $— $— $— 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$863 $339 $463 $209 $247 $74 $105 $38 
Noncurrent pension liability(b)
$— $— $— $— $— $73 $87 $— 
Net asset (liability) recognized$863 $339 $463 $209 $247 $1 $18 $38 
Regulatory assets$2,021 $531 $678 $353 $325 $89 $176 $97 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(27)$— $(1)$— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss127 — 3 — — — 2 — 
Net amounts recognized in accumulated other comprehensive loss
$99 $— $2 $— $— $— $2 $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2024
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$106 $203 
Accumulated benefit obligation101 197 
Fair value of plan assets32 128 
December 31, 2023
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$105 $208 
Accumulated benefit obligation100 203 
Fair value of plan assets31 121 
Assumptions Used for Pension Benefits Accounting
The discount rate used to determine the current year pension obligation and following year’s pension expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high-quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected.
The RCBP contains a mostly active participant population while the DELPP contains a mostly inactive participant population. The average remaining service period for RCBP participants is nine years and the average life expectancy of DELPP participants is 15 years. Unrecognized net actuarial gains/losses and prior service credit are amortized over 12 years for Duke Energy and Duke Energy Florida, 14 years for Duke Energy Ohio, 13 years for Duke Energy Indiana, 11 years for Duke Energy Carolinas, Progress Energy and Duke Energy Progress and nine years for Piedmont.
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202420232022
Benefit Obligations
Discount rate5.70%5.40%5.60%
Interest crediting rate4.78%4.15%4.35%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate5.00 %–5.40%5.60%2.90 %–5.70%
Interest crediting rate4.15%4.35%4.00%
Salary increase3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Expected long-term rate of return on plan assets8.50 %–7.00 %6.50 –8.25%6.50%
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2025$628 $173 $183 $98 $84 $31 $43 $19 
2026606 161 179 91 87 30 42 18 
2027586 153 175 87 87 29 42 17 
2028572 149 173 85 87 29 41 17 
2029546 138 167 79 87 29 42 16 
2030-2034
2,407 567 762 338 420 129 197 73 
NON-QUALIFIED PENSION PLANS
The accumulated benefit obligation, which equals the projected benefit obligation for non-qualified pension plans, was $203 million for Duke Energy, $8 million for Duke Energy Carolinas, $72 million for Progress Energy, $22 million for Duke Energy Progress, $27 million for Duke Energy Florida, $2 million for Duke Energy Ohio, $1 million for Duke Energy Indiana and $2 million for Piedmont as of December 31, 2024.
Employer contributions, which equal benefits paid for non-qualified pension plans, were $30 million for Duke Energy, $2 million for Duke Energy Carolinas, $8 million for Progress Energy, $3 million for Duke Energy Progress and $3 million for Duke Energy Florida for the year ended December 31, 2024. Employer contributions were not material for Duke Energy Ohio, Duke Energy Indiana or Piedmont for the year ended December 31, 2024.
Net periodic pension costs for non-qualified pension plans were not material for the years ended December 31, 2024, 2023 or 2022.
OTHER POST-RETIREMENT BENEFIT PLANS
Duke Energy provides, and the Subsidiary Registrants participate in, some health care and life insurance benefits for retired employees on a contributory and non-contributory basis. Employees are eligible for these benefits if they have satisfied the applicable eligibility requirements (e.g., age and service) at retirement, as defined in the plans. The health care benefits include medical, dental, vision and prescription drug coverage and are subject to certain limitations, such as deductibles and copayments.
Duke Energy did not make any prefunding contributions to its other post-retirement benefit plans during the years ended December 31, 2024, 2023 or 2022.
Components of Net Periodic Other Post-Retirement Benefit Costs
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$2 $— $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation17 3 7 4 3 1 1 1 
Expected return on plan assets(11)(8)— — — — — (2)
Amortization of actuarial (gain) loss
(6)(2)8 6 2 (2)(4)— 
Amortization of prior service credit(21)(4)(11)(6)(5)— (5)— 
Net periodic post-retirement benefit costs (a)(b)
$(19)$(11)$4 $4 $— $(1)$(8)$(1)
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$2 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation22 5 9 5 4 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial (gain) loss
(6)(3)8 5 2 (2)(3)— 
Amortization of prior service credit(23)(5)(11)(6)(5)— (5)— 
Net periodic post-retirement benefit costs(a)(b)
$(16)$(9)$6 $4 $1 $(1)$(7)$(1)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$3 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation17 4 7 4 3 1 1 1 
Expected return on plan assets(10)(6)— — — — — (2)
Amortization of actuarial loss2 — 1 1 1 — — — 
Amortization of prior service credit(8)(3)(2)(1)(1)— — (2)
Net periodic post-retirement benefit costs(a)(b)
$4 $(4)$6 $4 $3 $1 $1 $(3)
(a)    Duke Energy amounts exclude $4 million, $4 million and $4 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase
$(42)$(62)$23 $17 $5 $(1)$(3)$— 
Regulatory liabilities, net (decrease) increase
$(76)$(71)$12 $12 $— $(3)$(12)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain1 — — — — — — — 
Net amount recognized in accumulated other comprehensive income
$1 $— $— $— $— $— $— $— 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$73 $79 $(7)$(5)$— $(2)$(2)$1 
Regulatory liabilities, net increase (decrease)
$41 $62 $— $— $— $(4)$(8)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year service credit$1 $— $— $— $— $— $— $— 
Amortization of prior year actuarial gain$— $— $(1)$— $— $— $— $— 
Net amount recognized in accumulated other comprehensive income
$1 $— $(1)$— $— $— $— $— 
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$347 $69 $146 $84 $60 $19 $24 $15 
Service cost2 — — — — — — — 
Interest cost17 3 7 4 3 1 1 1 
Plan participants' contributions3 1 1 — — — — — 
Actuarial losses (gains)
2 (2)7 5 3 — (2)— 
Benefits paid(37)(8)(15)(6)(6)(2)(3)(1)
Accumulated post-retirement benefit obligation at measurement date$334 $63 $146 $87 $60 $18 $20 $15 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$156 $102 $(1)$(1)$(1)$7 $3 $27 
Actual return on plan assets7 4 — — — — — 3 
Benefits paid(37)(8)(15)(6)(6)(2)(3)(1)
Tax refund
5 4 — — — — — — 
Employer contributions27 4 14 7 7 2 — — 
Plan participants' contributions3 1 1 — — — — — 
Plan assets at measurement date$161 $107 $(1)$— $— $7 $— $29 
Funded status of plan$(173)$44 $(147)$(87)$(60)$(11)$(20)$14 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$437 $112 $168 $95 $69 $20 $30 $21 
Service cost2 1 — — — — — — 
Interest cost22 5 9 5 4 1 1 1 
Plan participants' contributions4 1 1 1 1 — — — 
Actuarial (gains) losses
(10)(2)(10)(6)(4)1 (1)1 
Transfers(50)(34)— — — — — (6)
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Accumulated post-retirement benefit obligation at measurement date$347 $69 $146 $84 $60 $19 $24 $15 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$162 $105 $— $(2)$(2)$7 $3 $31 
401(h) asset transfers— (8)— — — — — — 
Actual return on plan assets19 8 — — — 1 — 4 
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Transfers(13)4 — — — — — (7)
Employer contributions42 6 20 11 10 2 6 1 
Plan participants' contributions4 1 1 1 1 — — — 
Plan assets at measurement date$156 $102 $(1)$(1)$(1)$7 $3 $27 
Funded status of plan$(191)$33 $(147)$(85)$(61)$(12)$(21)$12 
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit(a)
$— $44 $— $— $— $1 $— $14 
Current post-retirement liability(b)
8 — 5 3 2 1 — — 
Noncurrent post-retirement liability(c)
165 — 142 84 58 11 20 — 
Net liability (asset) recognized$173 $(44)$147 $87 $60 $11 $20 $(14)
Regulatory assets$81 $17 $62 $46 $16 $1 $20 $1 
Regulatory liabilities$154 $35 $12 $12 $— $14 $62 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Net actuarial gain(12)— (1)— — — — — 
Net amounts recognized in accumulated other comprehensive income
$(9)$— $(1)$— $— $— $— $— 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit(a)
$— $61 $— $— $— $1 $— $12 
Current post-retirement liability(b)
12 3 5 3 2 1 — — 
Noncurrent post-retirement liability(c)
179 25 142 82 59 12 21 — 
Net liability (asset) recognized$191 $(33)$147 $85 $61 $12 $21 $(12)
Regulatory assets$123 $79 $39 $29 $11 $2 $23 $1 
Regulatory liabilities$230 $106 $— $— $— $17 $74 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Net actuarial gain(13)— (1)— — — — — 
Net amounts recognized in accumulated other comprehensive income
$(10)$— $(1)$— $— $— $— $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets. 
(b)    Included in Other within Current Liabilities on the Consolidated Balance Sheets.
(c)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Other Post-Retirement Benefits Accounting
The discount rate used to determine the current year other post-retirement benefits obligation and following year’s other post-retirement benefits expense is based on a bond selection-settlement portfolio approach. This approach develops a discount rate by selecting a portfolio of high-quality corporate bonds that generate sufficient cash flow to provide for projected benefit payments of the plan. The selected bond portfolio is derived from a universe of non-callable corporate bonds rated Aa quality or higher. After the bond portfolio is selected, a single interest rate is determined that equates the present value of the plan’s projected benefit payments discounted at this rate with the market value of the bonds selected.
The average remaining service period of active covered employees is seven years for Duke Energy, Duke Energy Carolinas and Duke Energy Florida, six years for Duke Energy Ohio, Duke Energy Indiana and Piedmont and five years for Progress Energy and Duke Energy Progress.
The following tables present the assumptions used for other post-retirement benefits accounting.
December 31,
202420232022
Benefit Obligations
Discount rate5.70 %5.40 %5.60 %
Net Periodic Benefit Cost
Discount rate5.40 %5.60 %2.90 %
Expected long-term rate of return on plan assets6.50 %–8.25 %6.50 %–8.25 %6.50 %
Assumed Health Care Cost Trend Rate
December 31,
20242023
Health care cost trend rate assumed for next year – pre-65 trend
7.00 %6.50 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend
2034-2035
2031-2032
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2025$52 $13 $18 $11 $8 $3 $4 $2 
202645 11 16 10 7 3 3 2 
202741 9 16 9 7 2 3 2 
202838 8 15 9 6 2 3 2 
202935 7 14 8 6 2 2 2 
2030-2034
124 21 59 35 24 6 8 6 
PLAN ASSETS
Description and Allocations
Duke Energy Corporation Master Retirement Trust
Assets for both the qualified pension and other post-retirement benefits are maintained in the Duke Energy Corporation Master Retirement Trust. Approximately 98% of the Duke Energy Corporation Master Retirement Trust assets were allocated to qualified pension plans and approximately 2% were allocated to other post-retirement plans (comprised of 401(h) accounts), as of December 31, 2024, and 2023. The investment objective of the Duke Energy Corporation Master Retirement Trust is to invest in a diverse portfolio of assets that is expected to generate positive surplus return over time (i.e., asset growth greater than liability growth) subject to a prudent level of portfolio risk, for the purpose of enhancing the security of benefits for plan participants.
As of December 31, 2024, Duke Energy assumes qualified pension and other post-retirement plan assets will generate a long-term rate of return of 8.50% for the RCBP pension and RCBP 401(h) account assets and 7.00% for the DELPP pension and DELPP 401(h) account assets. The expected long-term rate of return was developed using a weighted average calculation of expected returns based primarily on future expected returns across asset classes considering the use of active asset managers, where applicable. The asset allocation targets were set after considering the investment objective and the risk profile. Equity securities are held for their higher expected returns. Debt securities are primarily held to hedge the qualified pension plan. Return seeking debt securities, hedge funds and other global securities are held for diversification. Investments within asset classes are diversified to achieve broad market participation and reduce the impact of individual managers or investments.
Effective January 1, 2025, the target asset allocation for the RCBP assets is 35% liability hedging and 65% return-seeking assets and the target asset allocation for the DELPP assets is 80% liability hedging assets and 20% return-seeking assets. Duke Energy periodically reviews its asset allocation targets, and over time, as the funded status of the benefit plans increase, the level of asset risk relative to plan liabilities may be reduced to better manage Duke Energy's benefit plan liabilities and reduce funded status volatility.
Qualified pension and other post-retirement benefits for the Subsidiary Registrants are derived from the Duke Energy Corporation Master Retirement Trust, as such, each are allocated their proportionate share of the assets discussed below.
The following table includes the target asset allocations by asset class at December 31, 2024, and the actual asset allocations for the RCBP assets.
Actual Allocation at
TargetDecember 31,
Allocation20242023
Global equity securities45 %44 %45 %
Global private equity securities2 %1 %2 %
Debt securities35 %33 %35 %
Return seeking debt securities7 %7 %6 %
Hedge funds4 %5 %4 %
Real estate and cash7 %10 %8 %
Total100 %100 %100 %
The following table includes the target asset allocations by asset class at December 31, 2024, and the actual asset allocations for the DELPP assets.
Actual Allocation at
TargetDecember 31,
Allocation20242023
Global equity securities14 %15 %14 %
Global private equity securities1 %— %— %
Debt securities80 %79 %79 %
Return seeking debt securities2 %2 %2 %
Hedge funds1 %— %2 %
Real estate and cash2 %4 %3 %
Total100 %100 %100 %
Other post-retirement assets
Duke Energy's other post-retirement assets are comprised of Voluntary Employees' Beneficiary Association (VEBA) trusts and 401(h) accounts held within the Duke Energy Corporation Master Retirement Trust. Duke Energy's investment objective is to achieve sufficient returns, subject to a prudent level of portfolio risk, for the purpose of promoting the security of plan benefits for participants.
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2024.
Actual Allocation at
TargetDecember 31,
Allocation20242023
U.S. equity securities29 %34 %30 %
Non-U.S. equity securities15 %15 %15 %
Real estate5 %7 %7 %
Debt securities47 %31 %30 %
Cash4 %13 %18 %
Total100 %100 %100 %
Fair Value Measurements
Duke Energy classifies recurring and nonrecurring fair value measurements based on the fair value hierarchy as discussed in Note 17.
Valuation methods of the primary fair value measurements disclosed below are as follows:
Investments in equity securities
Investments in equity securities are typically valued at the closing price in the principal active market as of the last business day of the reporting period. Principal active markets for equity prices include published exchanges such as NASDAQ and NYSE. Foreign equity prices are translated from their trading currency using the currency exchange rate in effect at the close of the principal active market. Prices have not been adjusted to reflect after-hours market activity. The majority of investments in equity securities are valued using Level 1 measurements. When the price of an institutional commingled fund is unpublished, it is not categorized in the fair value hierarchy, even though the funds are readily available at the fair value.
Investments in corporate debt securities and U.S. government securities
Most debt investments are valued based on a calculation using interest rate curves and credit spreads applied to the terms of the debt instrument (maturity and coupon interest rate) and consider the counterparty credit rating. Most debt valuations are Level 2 measurements. If the market for a particular fixed-income security is relatively inactive or illiquid, the measurement is Level 3. U.S. Treasury debt is typically Level 2.
Investments in short-term investment funds
Investments in short-term investment funds are valued at the net asset value of units held at year end and are readily redeemable at the measurement date. Investments in short-term investment funds with published prices are valued as Level 1. Investments in short-term investment funds with unpublished prices are valued as Level 2.
Duke Energy Corporation Master Retirement Trust
The following tables provide the fair value measurement amounts for the Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets.
December 31, 2024
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,461 $2,216 $231 $— $14 
Corporate debt securities2,415 — 2,415 — — 
Short-term investment funds310 — 310 — — 
Partnership interests68 — — 68 — 
Hedge funds164 — — — 164 
U.S. government securities1,398 — 1,398 — — 
Governments bonds – foreign128 — 128 — — 
Cash15 15 — — — 
Government and commercial mortgage-backed securities
1 — 1 — — 
Net pending transactions and other investments9 11 (2)— — 
Total assets(a)
$6,969 $2,242 $4,481 $68 $178 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2024. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
December 31, 2023
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,221 $1,995 $211 $— $15 
Corporate debt securities2,807 — 2,807 — — 
Short-term investment funds233 — 233 — — 
Partnership interests76 — — 76 — 
Hedge funds164 — — — 164 
U.S. government securities1,571 — 1,571 — — 
Governments bonds – foreign107 — 107 — — 
Cash7 7 — — — 
Government and commercial mortgage-backed securities
1 — 1 — — 
Net pending transactions and other investments54 40 14 — — 
Total assets(a)
$7,241 $2,042 $4,944 $76 $179 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2023. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
The following table provides a reconciliation of beginning and ending balances of Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)20242023
Balance at January 1$76 $62 
Sales(10)(8)
Total gains and other, net2 22 
Balance at December 31$68 $76 
Other post-retirement assets
The following tables provide the fair value measurement amounts for VEBA trust assets.
December 31, 2024
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$3 $3 
Real estate1 1 
Equity securities10 10 
Debt securities6 6 
Total assets$20 $20 
December 31, 2023
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$4 $4 
Real estate1 1 
Equity securities9 9 
Debt securities6 6 
Total assets$20 $20 
EMPLOYEE SAVINGS PLANS
Retirement Savings Plan
Duke Energy Corporation sponsors, and the Subsidiary Registrants participate in, employee savings plans that cover substantially all U.S. employees. Most employees participate in a matching contribution formula where Duke Energy provides a matching contribution generally equal to 100% of employee before-tax and Roth 401(k) contributions of up to 6% of eligible pay per pay period. Dividends on Duke Energy shares held by the savings plans are charged to retained earnings when declared and shares held in the plans are considered outstanding in the calculation of basic and diluted EPS. For new and rehired employees who are not eligible to participate in Duke Energy’s defined benefit plans, an additional employer contribution of 4% of eligible pay per pay period, which is subject to a three-year vesting schedule, is provided to the employee’s savings plan account.
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ended December 31,
2024$257 $81 $72 $43 $29 $6 $13 $14 
2023238 75 62 40 22 6 13 13 
2022246 76 65 43 22 6 12 13 
v3.25.0.1
Income Taxes
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
Inflation Reduction Act
In August 2022, the IRA was signed into law. Among other provisions, the IRA implemented a new 15% corporate alternative minimum tax based on GAAP net income, with certain adjustments as defined by the IRA, and clean energy-related provisions. The IRA's clean energy provisions included, among other provisions, the extension and modification of existing investment and PTCs for projects placed in service through 2024 and introduced new technology-neutral clean energy-related credits beginning in 2025. In addition, the IRA created a new, zero-emission nuclear power PTC and a clean hydrogen PTC.
For the year ended December 31, 2024, Duke Energy Carolinas and Duke Energy Progress have recorded nuclear PTCs of approximately $449 million and $73 million, respectively. These amounts represent the estimated net realizable value of the PTCs, which were deferred to a regulatory liability. The Company will continue to assess its calculations and interpretations as new information and guidance becomes available. The Subsidiary Registrants are working with the state utility commissions on the appropriate regulatory process to pass the net realizable value back to customers over time. In 2024, net proceeds of $558 million was received related to the sale of tax credits, which includes primarily $428 million of nuclear power PTCs at Duke Energy Carolinas, $65 million of nuclear power PTCs at Duke Energy Progress, and $43 million of solar PTCs at Duke Energy Florida. See Note 4 for further details on the IRA as it relates to Duke Energy Florida and Duke Energy Carolinas' approval for a stand-alone rider starting January 1, 2025.
Income Tax Expense
Components of Income Tax Expense
Tax benefit from discontinued operations, in the following tables, includes income tax benefits related to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes
Federal
$(365)$178 $359 $373 $14 $52 $70 $40 
State 31 75 34 40 (12)3 12 (6)
Foreign 2 — — — — — — — 
Total current income taxes (332)253 393 413 2 55 82 34 
Deferred income taxes       
Federal 858 10 (22)(215)181 8 (19)40 
State 81 (25)59 (6)86 1 8 21 
Total deferred income taxes(a)
939 (15)37 (221)267 9 (11)61 
ITC amortization (17)(12)(4)(3)(1)— — — 
Income tax expense from continuing operations 590 226 426 189 268 64 71 95 
Tax benefit from discontinued operations (50)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$540 $226 $426 $189 $268 $64 $71 $95 
(a)     Total deferred income taxes include the utilization of NOL carryforwards and tax credit carryforwards of $523 million at Duke Energy and $8 million at Duke Energy Indiana. In addition, total deferred income taxes include the generation of NOL carryforwards and tax credit carryforwards of $47 million at Duke Energy Carolinas, $85 million at Progress Energy, $66 million at Duke Energy Progress, $30 million at Duke Energy Florida, $26 million at Duke Energy Ohio, and $8 million at Piedmont.
    
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal(b)
$71 $173 $459 $198 $279 $(46)$10 $44 
State 1 22 38 4 71 (3)9 3 
Foreign 3 — — — — — — — 
Total current income taxes 75 195 497 202 350 (49)19 47 
Deferred income taxes
Federal 319 (43)(154)(69)(89)111 77 25 
State 53 (7)38 19 — 1 14 12 
Total deferred income taxes(a)
372 (50)(116)(50)(89)112 91 37 
ITC amortization (9)(4)(4)(3)— — — — 
Income tax expense from continuing operations 438 141 377 149 261 63 110 84 
Tax benefit from discontinued operations (359)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$79 $141 $377 $149 $261 $63 $110 $84 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $214 million at Duke Energy and $54 million at Duke Energy Indiana. In addition, total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $2 million at Duke Energy Carolinas, $116 million at Progress Energy, $59 million at Duke Energy Progress, $5 million at Duke Energy Florida, $22 million at Duke Energy Ohio, and $15 million at Piedmont.
(b)    Total current federal income tax at Duke Energy includes corporate alternative minimum tax, net of tax credit utilization, of $69 million. In addition, under the IRA transferability provision, Progress Energy elected to sell $28 million of PTCs generated by Duke Energy Florida.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $1 $(71)$(13)$37 $(37)$(2)$38 $32 
State (8)(13)(3)— (23)1 2 2 
Foreign 4 — — — — — — — 
Total current income taxes (3)(84)(16)37 (60)(1)40 34 
Deferred income taxes
Federal 328 230 310 118 201 (22)(63)12 
State (14)(16)59 7 84 3 — (7)
Total deferred income taxes(a)
314 214 369 125 285 (19)(63)5 
ITC amortization (11)(4)(5)(4)— (1)(1)— 
Income tax expense (benefit) from continuing operations
300 126 348 158 225 (21)(24)39 
Tax benefit from discontinued operations (503)— — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations
$(203)$126 $348 $158 $225 $(21)$(24)$39 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $550 million at Duke Energy, $97 million at Duke Energy Carolinas, $128 million at Progress Energy, $9 million at Duke Energy Progress, $111 million at Duke Energy Florida, $7 million at Duke Energy Ohio, $13 million at Duke Energy Indiana, and $12 million at Piedmont.    
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202420232022
Domestic$5,145 $4,700 $3,991 
Foreign49 67 87 
Income from continuing operations before income taxes$5,194 $4,767 $4,078 
Statutory Rate Reconciliation
The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$1,090$443$545$284$279$85$108$107
State income tax, net of federal income tax effect8840 73275831612
Amortization of EDIT
(436)(225)(121)(98)(23)(23)(49)(18)
AFUDC equity income(48)(24)(16)(13)(3)(1)(3)(4)
AFUDC equity depreciation3819147724—
Production tax credits
(46)—(46)—(46)———
Other tax credits
(43)(23)(16)(12)(4)(1)(2)(2)
Other items, net(53)(4)(7)(6)—(1)(3)—
Income tax expense from continuing operations$590 $226 $426 $189 $268 $64 $71 $95 
Effective tax rate11.4 %10.7 %16.4 %14.0 %20.2 %15.8 %13.9 %18.7 %
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$1,001$338$490$241$268$83$128$97
State income tax, net of federal income tax effect4312 601856(2)1812
Amortization of EDIT
(388)(197)(114)(91)(23)(22)(33)(20)
AFUDC equity income(41)(19)(14)(11)(3)(2)(2)(4)
AFUDC equity depreciation3718136724—
Tax credits(b)
(63)(11)(46)(7)(39)(2)(2)(1)
Interest on company-owned life insurance(a)
(114)———————
Other items, net(37)—(12)(7)(5)6(3)—
Income tax expense from continuing operations
$438 $141 $377 $149 $261 $63 $110 $84 
Effective tax rate9.2 %8.8 %16.2 %13.0 %20.4 %15.9 %18.1 %18.1 %
(a)     During 2023, the Company evaluated the deductibility of certain items spanning periods currently open under federal statute, including items related to interest on company-owned life insurance. As a result of this analysis, the Company recorded a favorable federal adjustment of approximately $114 million and a favorable state adjustment of approximately $6 million. The favorable state adjustment is included in State income tax, net of federal income tax effect, in the above table.
(b)    Tax credits at Progress Energy and Duke Energy Florida include $28 million of certain eligible PTCs, net of discount, that were elected to be sold in 2023 under the transferability provisions of the IRA.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$856 $362 $457 $245 $238 $59 $24 $76 
State income tax, net of federal income tax effect(17)(23)44 6 48 3 2 (4)
Amortization of EDIT
(481)(195)(133)(74)(59)(79)(48)(23)
AFUDC equity income(41)(20)(14)(11)(3)(1)(2)(2)
AFUDC equity depreciation36 18 12 6 6 1 4 — 
Other tax credits(43)(12)(16)(9)(7)(2)(3)(8)
Other items, net(10)(4)(2)(5)2 (2)(1)— 
Income tax expense (benefit) from continuing operations
$300 $126 $348 $158 $225 $(21)$(24)$39 
Effective tax rate7.4 %7.3 %16.0 %13.6 %19.8 %(7.5)%(21.2)%10.8 %
Valuation allowances have been established for certain state NOL carryforwards and state income tax credits that reduce deferred tax assets to an amount that will be realized on a more-likely-than-not basis. The net change in the total valuation allowance is included in state income tax, net of federal income tax effect, in the above tables.
Valuation allowances have been established for foreign tax credits and certain tax attributes that reduce deferred tax assets to an amount that will be realized on a more-likely-than-not basis. The net change in the total valuation allowance is included in Other items, net in the above tables.
DEFERRED TAXES
Net Deferred Income Tax Liability Components
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $284 $217 $84 $43 $41 $17 $15 $40 
Lease obligations 430 88 265 179 86 2 12 2 
Pension, post-retirement and other employee benefits 89 (33)(23)(1)(26)6 1 (2)
Progress Energy merger purchase accounting adjustments(a)
227 — — — — — — — 
Tax credits and NOL carryforwards 3,845 522 783 312 449 70 145 57 
Regulatory liabilities and deferred credits— — — — — — 10 — 
Other 35 11 5 3 2 4 — 8 
Valuation allowance (517)— — — — — — — 
Total deferred income tax assets 4,393 805 1,114 536 552 99 183 105 
Investments and other assets (2,114)(1,350)(724)(671)(69)— — (48)
Accelerated depreciation rates (11,942)(3,203)(4,608)(1,624)(3,047)(1,361)(1,677)(1,019)
Regulatory assets and deferred debits, net (1,761)(304)(1,045)(585)(460)(52)— (56)
Total deferred income tax liabilities (15,817)(4,857)(6,377)(2,880)(3,576)(1,413)(1,677)(1,123)
Net deferred income tax liabilities$(11,424)$(4,052)$(5,263)$(2,344)$(3,024)$(1,314)$(1,494)$(1,018)
(a)    Primarily related to lease obligations and debt fair value adjustments.
The following table presents the expiration of tax credits and NOL carryforwards.
 December 31, 2024
(in millions)AmountExpiration Year
General Business Credits$2,186 2032—2044
Foreign Tax Credits(c)
615 2027—2028
State Carryforwards and Credits(a)
316 2025—Indefinite
Corporate AMT Credits717 Indefinite
Foreign NOL carryforwards(b)
11 2027—2042
Total tax credits and NOL carryforwards
$3,845    
(a)    A valuation allowance of $102 million has been recorded on the state NOL and attribute carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(b)    A valuation allowance of $11 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(c)    A valuation allowance of $404 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table.
In 2024, the Company recorded a corporate alternative minimum tax liability, net of tax credit utilization, of $133 million. In addition, under the IRA
transferability provision, the Company received net proceeds of $558 million related to the sale of certain tax credits generated by Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $327 $194 $77 $21 $56 $13 $18 $42 
Lease obligations 418 86 256 179 77 4 15 3 
Pension, post-retirement and other employee benefits 65 (41)(22)(1)(25)5 2 (5)
Progress Energy merger purchase accounting adjustments(a)
260 — — — — — — — 
Tax credits and NOL carryforwards 4,489 445 686 230 425 44 154 50 
Regulatory liabilities and deferred credits— — — — — — 47 — 
Investments and other assets— — — — — — 1 — 
Other 102 29 22 12 8 5 5 9 
Valuation allowance (544)— — — — — — — 
Total deferred income tax assets 5,117 713 1,019 441 541 71 242 99 
Investments and other assets (1,812)(1,213)(596)(520)(91)— — (37)
Accelerated depreciation rates (11,969)(3,411)(4,557)(1,823)(2,778)(1,314)(1,678)(944)
Regulatory assets and deferred debits, net (1,892)(468)(1,063)(658)(405)(29)— (51)
Total deferred income tax liabilities (15,673)(5,092)(6,216)(3,001)(3,274)(1,343)(1,678)(1,032)
Net deferred income tax liabilities $(10,556)$(4,379)$(5,197)$(2,560)$(2,733)$(1,272)$(1,436)$(933)
(a)    Primarily related to lease obligations and debt fair value adjustments.
UNRECOGNIZED TAX BENEFITS
The following tables present changes to unrecognized tax benefits.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$62 $21 $24 $18 $6 $2 $3 $11 
Gross increases – current period tax positions12 4 5 4 1 — — 2 
Unrecognized tax benefits – December 31$74 $25 $29 $22 $7 $2 $3 $13 
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$65 $17 $19 $13 $5 $1 $2 $9 
Gross decreases – tax positions in prior periods
(15)— — — — — — — 
Gross increases – current period tax positions12 4 5 5 1 1 1 2 
Total changes(3)4 5 5 1 1 1 2 
Unrecognized tax benefits – December 31$62 $21 $24 $18 $6 $2 $3 $11 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$51 $13 $15 $10 $4 $1 $2 $4 
Gross increases – current period tax positions14 4 4 3 1 — — 5 
Total changes14 4 4 3 1 — — 5 
Unrecognized tax benefits – December 31$65 $17 $19 $13 $5 $1 $2 $9 
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2024. None of Duke Energy Registrants anticipates a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$68 $24 $27 $20 $7 $2 $3 $11 
(a)    The Duke Energy Registrants are unable to estimate the specific amounts that would affect the ETR versus the regulatory liability.
Duke Energy and its subsidiaries are no longer subject to federal, state, local or non-U.S. income tax examinations by tax authorities for years before 2019, aside from certain tax attributes carried forward for utilization in future years.
v3.25.0.1
Other Income and Expenses, Net
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Other Income and Expenses, Net OTHER INCOME AND EXPENSES, NET
The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income$63 $9 $18 $14 $4 $8 $5 $19 
AFUDC equity 233 113 74 61 13 7 19 21 
Post-in-service equity returns
52 31 20 20 — 1 1 — 
Nonoperating income, other 313 94 123 48 69 3 37 14 
Other income and expense, net $661 $247 $235 $143 $86 $19 $62 $54 
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $29 $10 $14 $9 $7 $25 $25 $19 
AFUDC equity 198 91 67 52 15 9 10 21 
Post-in-service equity returns
39 19 19 19 — 1 — — 
Nonoperating income, other332 118 101 44 56 6 41 17 
Other income and expense, net $598 $238 $201 $124 $78 $41 $76 $57 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $27 $2 $24 $4 $20 $11 $15 $19 
AFUDC equity 197 98 68 52 16 7 13 11 
Post-in-service equity returns
34 14 18 18 — 1 1 — 
Nonoperating income, other134 107 71 40 38 — 7 16 
Other income and expense, net$392 $221 $181 $114 $74 $19 $36 $46 
v3.25.0.1
Subsequent Events
 12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTS
For information on subsequent events related to regulatory matters, commitments and contingencies, debt and credit facilities, and asset retirement obligations, see Notes 4, 5, 7 and 10, respectively.
v3.25.0.1
Pay vs Performance Disclosure - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pay vs Performance Disclosure      
Net Income (Loss) $ 4,524 $ 2,841 $ 2,550
v3.25.0.1
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2024
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.0.1
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2024
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.0.1
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2024
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]
Ensuring the security of Duke Energy’s assets, information and teammates is vital for delivering the essential service on which Duke Energy’s customers and communities depend. In light of the ever-evolving threat landscape and increasing sophistication of threat actor tactics, techniques and procedures, steadfast and advanced cybersecurity and security operations are integral parts of Duke Energy’s enterprise risk management framework. Duke Energy's enterprise risk management framework is used across the enterprise by subject matter experts to identify, assess, monitor and communicate enterprise level risks to the Chief Risk Officer. Duke Energy’s technology and cybersecurity risk management program is integrated into the Company’s overall Enterprise Risk Management program and is composed of three primary lines of defense: (1) the Cybersecurity Incident Response Team (CIRT); (2) the Duke Energy Enterprise Security Team (EST); and (3) internal and external cybersecurity audits.
Duke Energy’s first line of defense is the CIRT under the Office of the Chief Administrative Officer (CAO). The CIRT reports up to leaders in the Chief Security and Information Security Office, including the Chief Security and Information Security Officer (CSISO), Managing Director of Cybersecurity and Network Defense, and Director of Cybersecurity Operations, whose cybersecurity backgrounds include many years serving in operational cyber roles, leading incident response, participating in industry engagement, collaborating with federal and local cyber programs, and time analyzing security breaches across the industry. The CIRT oversees an enterprisewide process that identifies, assesses, responds to and resolves cyber incidents, both internal and those associated with the Company’s use of third-party service providers, by defining roles, responsibilities and the process for problem source identification, mitigation, and eradication triggered by a suspected cyber incident. Duke Energy manages cybersecurity threats through its 24/7 Duke Energy Cybersecurity Operations Center (CSOC), which serves as the Company’s central command center for monitoring and coordinating responses to cyber-threats. The CSOC engages in daily information sharing within the utilities industry and with government partners and monitors incoming intelligence and cyber incident impacts. The CSOC assesses the relevant information by assigning a CIRT Heat Map score, which results in CIRT activation if a certain threat level is met. It also results in the assignment of additional roles and responsibilities to enable the cybersecurity leadership and technical teams to collectively and regularly review incident information, score the impact, communicate to leadership, and respond appropriately. Another key component of Duke Energy’s first line of defense against cybersecurity threats is its Third-Party Risk Management (TPRM) process, whereby third parties providing services that meet certain criteria such as storing or transmitting Duke Energy data, hosting an application, or connecting to the Duke Energy network are required to undergo a cybersecurity assessment primarily to ascertain the risk of a third-party’s proposed services to Duke Energy.
Duke Energy’s second line of defense against cybersecurity threats is the EST, which is led by the CSISO, and actively evaluates, anticipates and tests Duke Energy’s cybersecurity risk level and preventive and risk mitigation controls relative to the enterprisewide risk level and controls. The EST is responsible for infrastructure defense and security controls, performing vulnerability assessments and third-party information security assessments, employee awareness and training programs and security incident management, including oversight of the remediation of cybersecurity incidents. The EST monitors cyber activity and also reports on the status of the Company’s cybersecurity performance and any ongoing remediation efforts to the Company’s CAO, Chief Information Officer (CIO) and CSISO. The CAO and CSISO report these cybersecurity metrics, which use a vulnerability management scoring system and closely align with the National Institute of Standards and Technology Cybersecurity Framework, to the Audit Committee at each regularly scheduled Audit Committee meeting. The EST also employs tools and oversees and challenges Duke Energy’s cybersecurity and technology metrics under its Enterprise Security Risk Register to track, identify and manage risk. To this end, the EST engages outside expert firms to perform a comprehensive external penetration test each year, performs system and application penetration testing several times throughout the year, and conducts annual exercises simulating the tactics, techniques, and procedures of advanced threat actor groups to test the Company’s ability to prevent penetration, detect suspicious activity and respond to these threats in a timely manner. Lessons learned inform the ongoing improvement of security preventive and mitigating controls and procedures and the results of such testing and threat actor simulations are shared with senior management and the Board of Directors. Duke Energy also has a senior management committee, the Executive Cybersecurity Oversight Governance Committee (ECOG), which governs enterprise-level cybersecurity risk tolerance.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] . Duke Energy’s technology and cybersecurity risk management program is integrated into the Company’s overall Enterprise Risk Management program and is composed of three primary lines of defense: (1) the Cybersecurity Incident Response Team (CIRT); (2) the Duke Energy Enterprise Security Team (EST); and (3) internal and external cybersecurity audits.
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block] In addition, the Operations and Nuclear Oversight Committee (ONOC) of the Board of Directors provides oversight of the nuclear safety and cybersecurity of Duke Energy’s nuclear power program, which is integrated with the companywide cyber protocols, and the Chair of the ONOC reports out to the Board of Directors on such oversight activities.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Operations and Nuclear Oversight Committee
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] In addition, the Operations and Nuclear Oversight Committee (ONOC) of the Board of Directors provides oversight of the nuclear safety and cybersecurity of Duke Energy’s nuclear power program, which is integrated with the companywide cyber protocols, and the Chair of the ONOC reports out to the Board of Directors on such oversight activities.
Cybersecurity Risk Role of Management [Text Block]
The Audit Committee has primary oversight of management’s efforts to mitigate cybersecurity and technology risk and respond to cyber incidents. The Audit Committee receives updates throughout the year from the CAO and CSISO on cybersecurity and grid security issues, including compliance with regulations, employee training and drills, at every regularly scheduled Audit Committee meeting, and engages in discussions throughout the year with management on the effectiveness of Duke Energy’s overall cybersecurity program and progress for addressing any identified risks. In 2024, the Audit Committee received three updates and the full Board of Directors received one update on cybersecurity. The Audit Committee also receives periodic updates on Duke Energy’s digital transformation and the operation of, and enhancements to, the Company’s financial systems and business and operational technical systems. The reviews presented to the Audit Committee are followed with an update to the full Board of Directors by the Chair of the Audit Committee.
In addition, the Operations and Nuclear Oversight Committee (ONOC) of the Board of Directors provides oversight of the nuclear safety and cybersecurity of Duke Energy’s nuclear power program, which is integrated with the companywide cyber protocols, and the Chair of the ONOC reports out to the Board of Directors on such oversight activities. Duke Energy’s nuclear cybersecurity program and associated cybersecurity plan (CSP) were fully implemented in 2017 in accordance with NRC regulation 10 CFR 73.54, “Protection of digital computer and communication systems and networks” and leverage monitoring, testing, drills, audits, assessments, and NRC inspections to continue to validate the effectiveness of the program to protect plant assets from cybersecurity threats.
Moreover, Duke Energy’s processes ensure that the Board of Directors receive contemporaneous reporting on potentially significant cyber events including response, legal obligations, and outreach and notification to regulators and customers when needed, as well as an opportunity to provide guidance to management as appropriate.
The relevant cybersecurity risk expertise of Duke Energy’s management who serve on the ECOG and/or senior management who lead the CIRT and EST is described below.
•The CEO of Duke Energy has over 20 years of experience in the utilities industry, and has gained cybersecurity experience as CEO of one of America’s largest utility companies, and through service on the board of the Edison Electric Institute, the Institute of Nuclear Power Operations, the World Association of Nuclear Operators, and past service on the Department of Homeland Security Advisory Council.
•The EVP and Chief Financial Officer of Duke Energy (CFO) previously served as the Company’s Chief Transformation and Administrative Officer and led the Company’s business transformation through digital innovation, new ways of working and process redesign. In this role, the CFO gained an in-depth understanding of the Company's cybersecurity procedures and key threats, and was responsible for the enterprise business services and technology team, including the information and technology organization.
•The EVP, Chief Generation Officer and Enterprise Operational Excellence of Duke Energy has gained cybersecurity experience through being responsible for the safe, efficient and reliable operation of Duke Energy's fleet of nuclear, natural gas, hydro, solar and coal units.
•The President of Duke Energy has gained cybersecurity experience through focusing on transmission and the development of long-term grid strategies and solutions and through a prior role as Chief Distribution Officer, overseeing the safe, reliable, and efficient operation of Duke Energy’s electric distribution systems, and through serving on the board of the Association of Edison Illuminating Companies.
•The CSISO of Duke Energy has over 25 years of experience building and leading security teams within multiple industries. The CSISO holds a Secret Security clearance and is committed to strengthening U.S. critical infrastructure through active collaboration with federal partners at the Federal Bureau of Investigation, Department of Energy, Department of Homeland Security, and state partners including the national guard, law enforcement and universities.
•The CAO of Duke Energy has over 25 years of experience in delivering secure information technology solutions across multiple industries, leading technology delivery for all core business functions. The CAO holds a Secret Security clearance and has active interactions and partnership with the Federal Bureau of Investigation, Edison Electric Institute and State Fusion Centers in the jurisdictions that Duke Energy serves.
Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Duke Energy’s first line of defense is the CIRT under the Office of the Chief Administrative Officer (CAO). The CIRT reports up to leaders in the Chief Security and Information Security Office, including the Chief Security and Information Security Officer (CSISO), Managing Director of Cybersecurity and Network Defense, and Director of Cybersecurity Operations, whose cybersecurity backgrounds include many years serving in operational cyber roles, leading incident response, participating in industry engagement, collaborating with federal and local cyber programs, and time analyzing security breaches across the industry.
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]
The relevant cybersecurity risk expertise of Duke Energy’s management who serve on the ECOG and/or senior management who lead the CIRT and EST is described below.
•The CEO of Duke Energy has over 20 years of experience in the utilities industry, and has gained cybersecurity experience as CEO of one of America’s largest utility companies, and through service on the board of the Edison Electric Institute, the Institute of Nuclear Power Operations, the World Association of Nuclear Operators, and past service on the Department of Homeland Security Advisory Council.
•The EVP and Chief Financial Officer of Duke Energy (CFO) previously served as the Company’s Chief Transformation and Administrative Officer and led the Company’s business transformation through digital innovation, new ways of working and process redesign. In this role, the CFO gained an in-depth understanding of the Company's cybersecurity procedures and key threats, and was responsible for the enterprise business services and technology team, including the information and technology organization.
•The EVP, Chief Generation Officer and Enterprise Operational Excellence of Duke Energy has gained cybersecurity experience through being responsible for the safe, efficient and reliable operation of Duke Energy's fleet of nuclear, natural gas, hydro, solar and coal units.
•The President of Duke Energy has gained cybersecurity experience through focusing on transmission and the development of long-term grid strategies and solutions and through a prior role as Chief Distribution Officer, overseeing the safe, reliable, and efficient operation of Duke Energy’s electric distribution systems, and through serving on the board of the Association of Edison Illuminating Companies.
•The CSISO of Duke Energy has over 25 years of experience building and leading security teams within multiple industries. The CSISO holds a Secret Security clearance and is committed to strengthening U.S. critical infrastructure through active collaboration with federal partners at the Federal Bureau of Investigation, Department of Energy, Department of Homeland Security, and state partners including the national guard, law enforcement and universities.
•The CAO of Duke Energy has over 25 years of experience in delivering secure information technology solutions across multiple industries, leading technology delivery for all core business functions. The CAO holds a Secret Security clearance and has active interactions and partnership with the Federal Bureau of Investigation, Edison Electric Institute and State Fusion Centers in the jurisdictions that Duke Energy serves.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]
The Company’s Executive Cybersecurity Oversight Governance Committee (ECOG), comprised of the Company's Chair and Chief Executive Officer (CEO), President, Executive Vice President (EVP) and Chief Financial Officer, and EVP, Chief Generation Officer and Enterprise Operational Excellence, receives monthly updates from the CAO and CSISO and provides senior management throughout the Company informational technology and operational technology perspectives, oversight and governance on investments and priorities for the broader cybersecurity organization, in addition to providing final decision oversight on recommendations and response to the ever-challenging cybersecurity threat landscape. The ECOG also is leveraged to supply information and bring transparency to senior management throughout the Company on the increasing threat landscape and the actions, response and road map to combat the threats.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.0.1
Summary of Significant Accounting Policies (Policy)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Nature of Operations and Basis of Consolidation
Nature of Operations and Basis of Consolidation
Duke Energy is an energy company headquartered in Charlotte, North Carolina, subject to regulation by the FERC and other regulatory agencies listed below. Duke Energy operates in the U.S. primarily through its direct and indirect subsidiaries. Certain Duke Energy subsidiaries are also subsidiary registrants, including Duke Energy Carolinas; Progress Energy; Duke Energy Progress; Duke Energy Florida; Duke Energy Ohio; Duke Energy Indiana and Piedmont. When discussing Duke Energy’s consolidated financial information, it necessarily includes the results of its separate Subsidiary Registrants, which along with Duke Energy, are collectively referred to as the Duke Energy Registrants.
The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Consolidated Financial Statements. However, none of the Subsidiary Registrants make any representation as to information related solely to Duke Energy or the Subsidiary Registrants of Duke Energy other than itself.
These Consolidated Financial Statements include, after eliminating intercompany transactions and balances, the accounts of the Duke Energy Registrants and subsidiaries or VIEs where the respective Duke Energy Registrants have control. See Note 18 for additional information on VIEs. These Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities. See Note 9 for additional information on joint ownership. Substantially all of the Subsidiary Registrants' operations qualify for regulatory accounting.
Duke Energy Carolinas is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Carolinas is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Progress Energy is a public utility holding company, which conducts operations through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. Progress Energy is subject to regulation by FERC and other regulatory agencies listed below.
Duke Energy Progress is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of North Carolina and South Carolina. Duke Energy Progress is subject to the regulatory provisions of the NCUC, PSCSC, NRC and FERC.
Duke Energy Florida is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Florida. Duke Energy Florida is subject to the regulatory provisions of the FPSC, NRC and FERC.
Duke Energy Ohio is a regulated public utility primarily engaged in the transmission and distribution of electricity in portions of Ohio and Kentucky, the generation and sale of electricity in portions of Kentucky and the transportation and sale of natural gas in portions of Ohio and Kentucky. Duke Energy Ohio conducts competitive auctions for retail electricity supply in Ohio whereby the energy price is recovered from retail customers and recorded in Operating Revenues on the Consolidated Statements of Operations and Comprehensive Income. Operations in Kentucky are conducted through its wholly owned subsidiary, Duke Energy Kentucky. References herein to Duke Energy Ohio collectively include Duke Energy Ohio and its subsidiaries, unless otherwise noted. Duke Energy Ohio is subject to the regulatory provisions of the PUCO, KPSC and FERC.
Duke Energy Indiana is a regulated public utility primarily engaged in the generation, transmission, distribution and sale of electricity in portions of Indiana. Duke Energy Indiana is subject to the regulatory provisions of the IURC and FERC.
Piedmont is a regulated public utility primarily engaged in the distribution of natural gas in portions of North Carolina, South Carolina and Tennessee. Piedmont is subject to the regulatory provisions of the NCUC, PSCSC, TPUC and FERC.
Certain prior year amounts have been reclassified to conform to the current year presentation.
Discontinued Operations
Discontinued Operations
Duke Energy has elected to present cash flows of discontinued operations combined with cash flows of continuing operations. Unless otherwise noted, the notes to these consolidated financial statements exclude amounts related to discontinued operations for all periods presented. For the years ended December 31, 2024, 2023 and 2022, the Income (Loss) From Discontinued Operations, net of tax on Duke Energy's Consolidated Statements of Operations includes amounts related to NCI. A portion of NCI on Duke Energy's Consolidated Balance Sheets relates to discontinued operations for the periods presented. See Note 2 for discussion of discontinued operations related to the Commercial Renewables Disposal Groups.
Use of Estimates
Use of Estimates
In preparing financial statements that conform to GAAP, the Duke Energy Registrants must make estimates and assumptions that affect the reported amounts of assets and liabilities, the reported amounts of revenues and expenses and the disclosure of contingent assets and liabilities at the date of the financial statements. Actual results could differ from those estimates.
Regulatory Accounting
Regulatory Accounting
The majority of the Duke Energy Registrants’ operations are subject to price regulation for the sale of electricity and natural gas by state utility commissions or FERC. When prices are set on the basis of specific costs of the regulated operations and an effective franchise is in place such that sufficient natural gas or electric services can be sold to recover those costs, the Duke Energy Registrants apply regulatory accounting. Regulatory accounting changes the timing of the recognition of costs or revenues relative to a company that does not apply regulatory accounting. As a result, regulatory assets and regulatory liabilities are recognized on the Consolidated Balance Sheets. Regulatory assets and liabilities are amortized consistent with the treatment of the related cost in the ratemaking process. Regulatory assets are reviewed for recoverability each reporting period. If a regulatory asset is no longer deemed probable of recovery, the deferred cost is charged to earnings. See Note 4 for further information.
Regulatory accounting rules also require recognition of a disallowance (also called "impairment") loss if it becomes probable that part of the cost of a plant under construction (or a recently completed plant or an abandoned plant) will be disallowed for ratemaking purposes and a reasonable estimate of the amount of the disallowance can be made. For example, if a cost cap is set for a plant still under construction, the amount of the disallowance is a result of a judgment as to the ultimate cost of the plant. These disallowances can require judgments on allowed future rate recovery.
When it becomes probable that regulated generation, transmission or distribution assets will be abandoned, the cost of the asset is removed from plant in service. The value that may be retained as a regulatory asset on the balance sheet for the abandoned property is dependent upon amounts that may be recovered through regulated rates, including any return. As such, an impairment charge could be partially or fully offset by the establishment of a regulatory asset if rate recovery is probable. The impairment charge for a disallowance of costs for regulated plants under construction, recently completed or abandoned is based on discounted cash flows.
Regulated Fuel Costs and Purchased Power The Duke Energy Registrants utilize cost-tracking mechanisms, commonly referred to as fuel adjustment clauses or PGA clauses. These clauses allow for the recovery of fuel and fuel-related costs, portions of purchased power, natural gas costs and hedging costs through surcharges on customer rates. The difference between the costs incurred and the surcharge revenues is recorded either as an adjustment to Operating Revenues, Operating Expenses – Fuel used in electric generation or Operating Expenses – Cost of natural gas on the Consolidated Statements of Operations, with an off-setting impact on regulatory assets or liabilities
Cash, Cash Equivalents and Restricted Cash
Cash, Cash Equivalents and Restricted Cash
All highly liquid investments with maturities of three months or less at the date of acquisition are considered cash equivalents. Duke Energy, Progress Energy and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. Duke Energy Carolinas and Duke Energy Progress have restricted cash balances related to VIEs from storm recovery bonds issued. See Note 18 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Consolidated Balance Sheets.
Inventory
Inventory
Inventory related to regulated operations is valued at historical cost. Inventory is charged to expense or capitalized to property, plant and equipment when issued, primarily using the average cost method. Excess or obsolete inventory is written down to the lower of cost or net realizable value. Once inventory has been written down, it creates a new cost basis for the inventory that is not subsequently written up. Provisions for inventory write-offs were not material at December 31, 2024, and 2023, respectively.
Investments in Debt and Equity Securities
Investments in Debt and Equity Securities
The Duke Energy Registrants classify investments in equity securities as FV-NI and investments in debt securities as AFS. Both categories are recorded at fair value on the Consolidated Balance Sheets. Realized and unrealized gains and losses on securities classified as FV-NI are reported through net income. Unrealized gains and losses for debt securities classified as AFS are included in AOCI until realized, unless it is determined the carrying value of an investment has a credit loss. For certain investments of regulated operations, such as substantially all of the NDTF, realized and unrealized gains and losses (including any credit losses) on debt securities are recorded as a regulatory asset or liability. The credit loss portion of debt securities of nonregulated operations are included in earnings. Investments in debt and equity securities are classified as either current or noncurrent based on management’s intent and ability to sell these securities, taking into consideration current market liquidity. As a result, the ability to hold investments in unrealized loss positions is outside the control of the Duke Energy Registrants. Accordingly, all unrealized losses associated with debt securities within the Investment Trusts are recognized immediately and deferred to regulatory accounts where appropriate.Unrealized gains and losses on all other AFS securities are included in other comprehensive income until realized, unless it is determined the carrying value of an investment has a credit loss. The Duke Energy Registrants analyze all investment holdings each reporting period to determine whether a decline in fair value is related to a credit loss. If a credit loss exists, the unrealized credit loss is included in earnings.
Goodwill and Intangible Assets
Goodwill
Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont perform annual goodwill impairment tests as of August 31 each year at the reporting unit level, which is determined to be a business segment or one level below. Duke Energy, Progress Energy, Duke Energy Ohio and Piedmont update these tests between annual tests if events or circumstances occur that would more likely than not reduce the fair value of a reporting unit below its carrying value. See Note 12 for further information.
Intangible Assets
Intangible assets are included in Other in Other Noncurrent Assets on the Consolidated Balance Sheets. Generally, intangible assets are amortized using an amortization method that reflects the pattern in which the economic benefits of the intangible asset are consumed or on a straight-line basis if that pattern is not readily determinable. Amortization of intangibles is reflected in Depreciation and amortization on the Consolidated Statements of Operations. Intangible assets are subject to impairment testing and if impaired, the carrying value is accordingly reduced.
RECs are used to measure compliance with renewable energy standards and are held primarily for consumption.
Long-Lived Asset Impairments
Long-Lived Asset Impairments
The Duke Energy Registrants evaluate long-lived assets that are held and used, excluding goodwill, for impairment when circumstances indicate the carrying value of those assets may not be recoverable. An impairment exists when a long-lived asset’s carrying value exceeds the estimated undiscounted cash flows expected to result from the use and eventual disposition of the asset. The estimated cash flows may be based on alternative expected outcomes that are probability weighted. If the carrying value of the long-lived asset is not recoverable based on these estimated future undiscounted cash flows, the carrying value of the asset is written down to its then current estimated fair value and an impairment charge is recognized.
The Duke Energy Registrants assess fair value of long-lived assets that are held and used using various methods, including recent comparable third-party sales, internally developed discounted cash flow analysis and analysis from outside advisors. Triggering events to reassess cash flows may include, but are not limited to, significant changes in commodity prices, the condition of an asset or management’s interest in selling the asset.
Property, Plant and Equipment
Property, Plant and Equipment
Property, plant and equipment are stated at the lower of depreciated historical cost net of any disallowances or fair value, if impaired. The Duke Energy Registrants capitalize all construction-related direct labor and material costs, as well as indirect construction costs such as general engineering, taxes and financing costs. See “Allowance for Funds Used During Construction and Interest Capitalized” section below for information on capitalized financing costs. Costs of renewals and betterments that extend the useful life of property, plant and equipment are also capitalized. The cost of repairs, replacements and major maintenance projects, which do not extend the useful life or increase the expected output of the asset, are expensed as incurred. Depreciation is generally computed over the estimated useful life of the asset using the composite straight-line method. Depreciation studies are conducted periodically to update composite rates and are approved by state utility commissions and/or the FERC when required. The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202420232022
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 3.1 %2.7 %2.7 %
Progress Energy 3.3 %3.3 %3.2 %
Duke Energy Progress 3.2 %3.1 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.5 %
Duke Energy Ohio 2.9 %2.8 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.2 %2.1 %2.1 %
In general, when the Duke Energy Registrants retire regulated property, plant and equipment, the original cost plus the cost of retirement, less salvage value and any depreciation already recognized, is charged to accumulated depreciation. However, when it becomes probable the asset will be retired substantially in advance of its original expected useful life or is abandoned, the cost of the asset and the corresponding accumulated depreciation is recognized as a separate asset. If the asset is still in operation, the net amount is classified as Facilities to be retired, net on the Consolidated Balance Sheets. If the asset is no longer operating, the net amount is classified in Regulatory assets on the Consolidated Balance Sheets if deemed recoverable (see discussion of long-lived asset impairments above). The carrying value of the asset is based on historical cost if the Duke Energy Registrants are allowed to recover the remaining net book value and a return equal to at least the incremental borrowing rate. If not, an impairment is recognized to the extent the net book value of the asset exceeds the present value of future revenues discounted at the incremental borrowing rate.
When the Duke Energy Registrants sell entire regulated operating units, the original cost and accumulated depreciation and amortization balances are removed from Property, Plant and Equipment on the Consolidated Balance Sheets. Any gain or loss is recorded in earnings, unless otherwise required by the applicable regulatory body
Leases
Leases
Duke Energy determines if an arrangement is a lease at contract inception based on whether the arrangement involves the use of a physically distinct identified asset and whether Duke Energy has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period as well as the right to direct the use of the asset. As a policy election, Duke Energy does not evaluate arrangements with initial contract terms of less than one year as leases.
Operating leases are included in Operating lease ROU assets, net, Other current liabilities and Operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Property, Plant and Equipment, Current maturities of long-term debt and Long-Term Debt on the Consolidated Balance Sheets.
For lessee and lessor arrangements, Duke Energy has elected a policy to not separate lease and non-lease components for all asset classes. For lessor arrangements, lease and non-lease components are only combined under one arrangement and accounted for under the lease accounting framework if the non-lease components are not the predominant component of the arrangement and the lease component would be classified as an operating lease.
Leases
Leases
Duke Energy determines if an arrangement is a lease at contract inception based on whether the arrangement involves the use of a physically distinct identified asset and whether Duke Energy has the right to obtain substantially all of the economic benefits from the use of the asset throughout the period as well as the right to direct the use of the asset. As a policy election, Duke Energy does not evaluate arrangements with initial contract terms of less than one year as leases.
Operating leases are included in Operating lease ROU assets, net, Other current liabilities and Operating lease liabilities on the Consolidated Balance Sheets. Finance leases are included in Property, Plant and Equipment, Current maturities of long-term debt and Long-Term Debt on the Consolidated Balance Sheets.
For lessee and lessor arrangements, Duke Energy has elected a policy to not separate lease and non-lease components for all asset classes. For lessor arrangements, lease and non-lease components are only combined under one arrangement and accounted for under the lease accounting framework if the non-lease components are not the predominant component of the arrangement and the lease component would be classified as an operating lease.
Nuclear Fuel
Nuclear Fuel
Nuclear fuel is classified as Property, Plant and Equipment on the Consolidated Balance Sheets.
Nuclear fuel in the front-end fuel processing phase is considered work in progress and not amortized until placed in service. Amortization of nuclear fuel is included within Fuel used in electric generation and purchased power on the Consolidated Statements of Operations. Amortization is recorded using the units-of-production method.
Allowance for Funds Used During Construction and Interest Capitalized
Allowance for Funds Used During Construction and Interest Capitalized
For regulated operations, the debt and equity costs of financing the construction of property, plant and equipment are reflected as AFUDC and capitalized as a component of the cost of property, plant and equipment. AFUDC equity is reported on the Consolidated Statements of Operations as non-cash income in Other income and expenses, net. AFUDC debt is reported as a non-cash offset to Interest Expense. After construction is completed, the Duke Energy Registrants are permitted to recover these costs through their inclusion in rate base and the corresponding subsequent depreciation or amortization of those regulated assets.
AFUDC equity, a permanent difference for income taxes, reduces the ETR when capitalized and increases the ETR when depreciated or amortized.
Asset Retirement Obligations
Asset Retirement Obligations
AROs are recognized for legal obligations associated with the retirement of property, plant and equipment. When recording an ARO, the present value of the projected liability is recognized in the period in which it is incurred, if a reasonable estimate of fair value can be made. The liability is accreted over time. For operating plants, the present value of the liability is added to the cost of the associated asset and depreciated over the remaining life of the asset. For retired plants, the present value of the liability is recorded as a regulatory asset unless determined not to be probable of recovery.
The present value of the initial obligation and subsequent updates are based on discounted cash flows, which include estimates regarding timing of future cash flows, selection of discount rates and cost escalation rates, among other factors. These estimates are subject to change. Depreciation expense is adjusted prospectively for any changes to the carrying amount of the associated asset. The Duke Energy Registrants receive amounts to fund the cost of the ARO for regulated operations through a combination of regulated revenues and earnings on the NDTF. As a result, amounts recovered in regulated revenues, earnings on the NDTF, accretion expense and depreciation of the associated asset are netted and deferred as a regulatory asset or liability.
Accounts Payable
Accounts Payable
Duke Energy has a voluntary supply chain finance program (the “program”) that allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to a global financial institution at a rate that leverages Duke Energy’s credit rating and, which may result in favorable terms compared to the rate available to the supplier on their own credit rating. Suppliers participating in the program, determine at their sole discretion which invoices they will sell to the financial institution. Suppliers’ decisions on which invoices are sold do not impact Duke Energy’s payment terms, which are based on commercial terms negotiated between Duke Energy and the supplier regardless of program participation. The commercial terms negotiated between Duke Energy and its suppliers are consistent regardless of whether the supplier elects to participate in the program. Duke Energy does not issue any guarantees with respect to the program and does not participate in negotiations between suppliers and the financial institution. Duke Energy does not have an economic interest in the supplier’s decision to participate in the program and receives no interest, fees or other benefit from the financial institution based on supplier participation in the program.
Revenue Recognition
Revenue Recognition
Duke Energy recognizes revenue as customers obtain control of promised goods and services in an amount that reflects consideration expected in exchange for those goods or services. Generally, the delivery of electricity and natural gas results in the transfer of control to customers at the time the commodity is delivered and the amount of revenue recognized is equal to the amount billed to each customer, including estimated volumes delivered when billings have not yet occurred. See Note 19 for further information.
Alternative Revenue Programs
Duke Energy accounts for certain types of programs established by the regulators in the states in which it operates, including decoupling mechanisms, as alternative revenue programs. Alternative revenue programs are contracts between an entity and its regulator, not a contract between an entity and a customer. Revenue arising from alternative revenue programs is presented as Regulated electric revenues and Regulated natural gas revenues on the Consolidated Statements of Operations. Revenue from alternative revenue programs is recognized in the period they are earned (i.e., during the period of revenue shortfall or excess due to fluctuations in customer usage or when specific targets are met resulting in the achievement of performance incentives or penalties) and a regulatory asset or liability on the Consolidated Balance Sheets is established, which is subsequently billed or refunded to customers. Duke Energy recognizes revenue as alternative revenue programs for programs that have been authorized for rate recovery, are objectively determinable and probable of recovery, and are expected to be collected within 24 months. See Note 19 for disaggregated revenue information including revenue from contracts with customers and revenues recognized as alternative revenue programs.
Duke Energy recognizes revenue consistent with amounts billed under tariff offerings or at contractually agreed upon rates based on actual physical delivery of electric or natural gas service, including estimated volumes delivered when billings have not yet occurred. As such, the majority of Duke Energy’s revenues have fixed pricing based on the contractual terms of the published tariffs. Absent decoupling mechanisms, the variability in expected cash flows of the majority of Duke Energy's revenue is attributable to the customer’s volumetric demand and ultimate quantities of energy or natural gas supplied and used during the billing period. The stand-alone selling price of related sales are designed to support recovery of prudently incurred costs and an appropriate return on invested assets and are primarily governed by published tariff rates or contractual agreements approved by relevant regulatory bodies. As described in Note 1, certain excise taxes and franchise fees levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis as part of revenues. Duke Energy elects to account for all other taxes net of revenues.
Performance obligations are satisfied over time as energy or natural gas is delivered and consumed with billings generally occurring monthly and related payments due within 30 days, depending on regulatory requirements. In no event does the timing between payment and delivery of the goods and services exceed one year. Using this output method for revenue recognition provides a faithful depiction of the transfer of electric and natural gas service as customers obtain control of the commodity and benefit from its use at delivery. Additionally, Duke Energy has an enforceable right to consideration for energy or natural gas delivered at any discrete point in time and will recognize revenue at an amount that reflects the consideration to which Duke Energy is entitled for the energy or natural gas delivered.
As described above, the majority of Duke Energy’s tariff revenues are at will and, as such, related contracts with customers have an expected duration of one year or less and will not have future performance obligations for disclosure. Additionally, other long-term revenue streams, including wholesale contracts, generally provide services that are part of a single performance obligation, the delivery of electricity or natural gas. As such, other than material fixed consideration under long-term contracts, related disclosures for future performance obligations are also not applicable.
Derivatives and Hedging
Derivatives and Hedging
Derivative and non-derivative instruments may be used in connection with commodity price and interest rate activities, including swaps, futures, forwards and options. All derivative instruments, except those that qualify for the NPNS exception, are recorded on the Consolidated Balance Sheets at fair value. Qualifying derivative instruments may be designated as either cash flow hedges or fair value hedges. Other derivative instruments (undesignated contracts) either have not been designated or do not qualify as hedges. The effective portion of the change in the fair value of cash flow hedges is recorded in AOCI. The effective portion of the change in the fair value of a fair value hedge is offset in net income by changes in the hedged item. For activity subject to regulatory accounting, gains and losses on derivative contracts are reflected as regulatory assets or liabilities and not as other comprehensive income or current period income. As a result, changes in fair value of these derivatives have no immediate earnings impact.
Formal documentation, including transaction type and risk management strategy, is maintained for all contracts accounted for as a hedge. At inception and at least every three months thereafter, the hedge contract is assessed to see if it is highly effective in offsetting changes in cash flows or fair values of hedged items.
Captive Insurance Reserves
Captive Insurance Reserves
Duke Energy has captive insurance subsidiaries that provide coverage, on an indemnity basis, to the Subsidiary Registrants as well as certain third parties, on a limited basis, for financial losses, primarily related to property, workers’ compensation and general liability. Liabilities include provisions for estimated losses incurred but not reported (IBNR), as well as estimated provisions for known claims. IBNR reserve estimates are primarily based upon historical loss experience, industry data and other actuarial assumptions. Reserve estimates are adjusted in future periods as actual losses differ from experience.
Duke Energy, through its captive insurance entities, also has reinsurance coverage with third parties for certain losses above a per occurrence and/or aggregate retention. Receivables for reinsurance coverage are recognized when realization is deemed probable.
Preferred Stock
Preferred Stock
Preferred stock is reviewed to determine the appropriate balance sheet classification and embedded features, such as call options, are evaluated to determine if they should be bifurcated and accounted for separately. Costs directly related to the issuance of preferred stock are recorded as a reduction of the proceeds received. The liability for the dividend is recognized when declared. The accumulated dividends on the cumulative preferred stock is recognized to net income available to Duke Energy Corporation in the EPS calculation.
Loss Contingencies and Environmental Liabilities
Loss Contingencies and Environmental Liabilities
Contingent losses are recorded when it is probable a loss has occurred and the loss can be reasonably estimated. When a range of the probable loss exists and no amount within the range is a better estimate than any other amount, the minimum amount in the range is recorded. Unless otherwise required by GAAP, legal fees are expensed as incurred.
Environmental liabilities are recorded on an undiscounted basis when environmental remediation or other liabilities become probable and can be reasonably estimated. Environmental expenditures related to past operations that do not generate current or future revenues are expensed. Environmental expenditures related to operations that generate current or future revenues are expensed or capitalized, as appropriate. Certain environmental expenditures receive regulatory accounting treatment and are recorded as regulatory assets.
Severance and Special Termination Benefits
Severance and Special Termination Benefits
Duke Energy maintains severance plans for the general employee population under which, in general, the longer a terminated employee worked prior to termination the greater the amount of severance benefits provided. A liability for involuntary severance is recorded once an involuntary severance plan is committed to by management if involuntary severances are probable and can be reasonably estimated. For involuntary severance benefits incremental to its ongoing severance plan benefits, the fair value of the obligation is expensed at the communication date if there are no future service requirements or over the required future service period. Duke Energy also offers special termination benefits under voluntary severance programs. Special termination benefits are recorded immediately upon employee acceptance absent a significant retention period. Otherwise, the cost is recorded over the remaining service period. Employee acceptance of voluntary severance benefits is determined by management based on the facts and circumstances of the benefits being offered.
Guarantees
Guarantees
If necessary, liabilities are recognized at the time of issuance or material modification of a guarantee for the estimated fair value of the obligation it assumes. Fair value is estimated using a probability weighted approach. The obligation is reduced over the term of the guarantee or related contract in a systematic and rational method as risk is reduced. Duke Energy recognizes a liability for the best estimate of its loss due to the nonperformance of the guaranteed party. This liability is recognized at the inception of a guarantee and is updated periodically.
Income Taxes
Income Taxes
Duke Energy and its subsidiaries file a consolidated federal income tax return and other state and foreign jurisdictional returns. The Subsidiary Registrants are parties to a tax-sharing agreement with Duke Energy. Income taxes recorded represent amounts the Subsidiary Registrants would incur as separate C-Corporations. Deferred income taxes have been provided for temporary differences between GAAP and tax bases of assets and liabilities because the differences create taxable or tax-deductible amounts for future periods. ITCs associated with regulated operations are deferred and amortized as a reduction of income tax expense over the estimated useful lives of the related properties. PTCs associated with regulated operations reduce income tax expense or are deferred and amortized as a reduction of income tax expense over a period of time that is agreed upon by the regulatory authorities and the Subsidiary Registrants.
Accumulated deferred income taxes are valued using the enacted tax rate expected to apply to taxable income in the periods in which the deferred tax asset or liability is expected to be settled or realized. In the event of a change in tax rates, deferred tax assets and liabilities are remeasured as of the enactment date of the new rate. To the extent that the change in the value of the deferred tax represents an obligation to customers, the impact of the remeasurement is deferred to a regulatory liability. Remaining impacts are recorded in income from continuing operations. Duke Energy's results of operations could be impacted if the estimate of the tax effect of reversing temporary differences is not reflective of actual outcomes, is modified to reflect new developments or interpretations of the tax law, revised to incorporate new accounting principles, or changes in the expected timing or manner of a reversal.
Tax-related interest and penalties are recorded in Interest Expense and Other income and expenses, net in the Consolidated Statements of Operations.
Excise Taxes
Excise Taxes
Certain excise taxes levied by state or local governments are required to be paid even if not collected from the customer. These taxes are recognized on a gross basis. Taxes for which Duke Energy operates merely as a collection agent for the state and local government are accounted for on a net basis.
Dividend Restrictions and Unappropriated Retained Earnings
Dividend Restrictions and Unappropriated Retained Earnings
Duke Energy does not have any current legal, regulatory or other restrictions on paying common stock dividends to shareholders. However, if Duke Energy were to defer dividend payments on the preferred stock, the declaration of common stock dividends would be prohibited. See Note 20 for more information. Additionally, as further described in Note 4, Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio, Duke Energy Indiana and Piedmont have restrictions on paying dividends or otherwise advancing funds to Duke Energy due to conditions established by regulators in conjunction with merger transaction approvals.
New Accounting Standard
New Accounting Standards
Other than implementation of the enhanced disclosure requirements for reportable business segments as described in Note 3, no new accounting standards were adopted by any of the Duke Energy Registrants in 2024.
Earnings Per Share Basic EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the weighted average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income available to Duke Energy common stockholders, as adjusted for distributed and undistributed earnings allocated to participating securities and accumulated preferred dividends, by the diluted weighted average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as equity forward sale agreements or convertible debt, were exercised or settled. Duke Energy applies the if-converted method for calculating any potential dilutive effect of the conversion of the outstanding convertible notes on diluted EPS, if applicable.
v3.25.0.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2024
Accounting Policies [Abstract]  
Schedule of Current and Noncurrent Assets and Liabilities
The following table provides a description of amounts included in Other within Current Assets or Current Liabilities that exceed 5% of total Current Assets or Current Liabilities on the Duke Energy Registrants' Consolidated Balance Sheets at either December 31, 2024, or 2023.
December 31,
(in millions)Location20242023
Duke Energy Carolinas
Accrued compensation Current Liabilities$234 $224 
Duke Energy Florida  
Tax receivables
Current Assets
$166 $12 
Customer deposits/Collateral liabilities
Current Liabilities$164 $168 
Duke Energy Ohio  
Tax receivables
Current Assets
$4 95 
Duke Energy Indiana  
Customer advances
Current Liabilities
$100 $87 
Schedule of Cash and Cash Equivalents The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
December 31, 2024December 31, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyDukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFloridaEnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$314 $6 $73 $24 $33 $253 $9 $59 $18 $24 
Other84 9 76 40 35 76 9 67 31 36 
Other Noncurrent Assets
Other20 1 11 5 7 16 1 9 2 7 
Total cash, cash equivalents and restricted cash$418 $16 $160 $69 $75 $345 $19 $135 $51 $67 
Restrictions on Cash and Cash Equivalents The following table presents the components of cash, cash equivalents and restricted cash included in the Consolidated Balance Sheets.
December 31, 2024December 31, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyDukeEnergyProgressEnergyEnergy
(in millions)
EnergyCarolinasEnergyProgressFloridaEnergyCarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$314 $6 $73 $24 $33 $253 $9 $59 $18 $24 
Other84 9 76 40 35 76 9 67 31 36 
Other Noncurrent Assets
Other20 1 11 5 7 16 1 9 2 7 
Total cash, cash equivalents and restricted cash$418 $16 $160 $69 $75 $345 $19 $135 $51 $67 
Components of Inventory The components of inventory are presented in the tables below.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $3,387 $1,150 $1,649 $1,074 $576 $149 $389 $11 
Coal 801 341 241 164 77 23 196 — 
Natural gas, oil and other 321 45 196 103 92 11 1 67 
Total inventory $4,509 $1,536 $2,086 $1,341 $745 $183 $586 $78 
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $3,086 $1,075 $1,465 $963 $502 $139 $361 $12 
Coal842 364 231 154 77 28 219 — 
Natural gas, oil and other364 45 205 110 95 12 2 100 
Total inventory $4,292 $1,484 $1,901 $1,227 $674 $179 $582 $112 
Schedule of Property, Plant and Equipment The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202420232022
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 3.1 %2.7 %2.7 %
Progress Energy 3.3 %3.3 %3.2 %
Duke Energy Progress 3.2 %3.1 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.5 %
Duke Energy Ohio 2.9 %2.8 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.2 %2.1 %2.1 %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2024
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,569 $617 $1,134 $535 $599 $258 $144 $391 
Plant – Regulated
Electric generation, distribution and transmission 37137,836 49,547 62,351 35,633 26,718 7,634 18,304 — 
Natural gas transmission and distribution 5815,333 — — — — 4,255 — 11,078 
Other buildings and improvements 412,982 1,256 698 391 307 418 372 238 
Nuclear fuel 3,518 2,003 1,515 1,515 — — — — 
Equipment 133,863 997 1,252 753 499 542 490 170 
Construction in process 7,850 2,735 3,657 1,884 1,773 385 406 405 
Other106,855 1,227 1,953 1,349 594 426 254 498 
Total property, plant and equipment(a)
180,806 58,382 72,560 42,060 30,490 13,918 19,970 12,780 
Total accumulated depreciation – regulated(b)(c)
(55,535)(19,090)(23,586)(15,930)(7,650)(3,674)(6,848)(2,432)
Total accumulated depreciation – other(d)
(1,968)— — — — — — — 
Total net property, plant and equipment $123,303 $39,292 $48,974 $26,130 $22,840 $10,244 $13,122 $10,348 
(a)    Includes finance leases of $670 million, $336 million, $620 million, $512 million, $108 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy and Duke Energy Progress amounts are net of $159 million of accumulated amortization of finance leases.
(b)    Includes $1,824 million, $1,010 million, $814 million and $814 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $84 million and $4 million at Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $25 million at Duke Energy.
December 31, 2023
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,345 $581 $1,012 $502 $510 $242 $133 $352 
Plant – Regulated
Electric generation, distribution and transmission 40129,985 48,107 57,436 33,171 24,265 7,243 17,199 — 
Natural gas transmission and distribution 5714,130 — — — — 3,993 — 10,137 
Other buildings and improvements 422,887 1,213 677 377 300 421 355 221 
Nuclear fuel 3,303 1,866 1,437 1,437 — — — — 
Equipment 143,409 870 1,104 654 450 474 442 143 
Construction in process 8,372 2,578 3,941 1,661 2,280 427 427 690 
Other126,922 1,455 2,037 1,481 548 410 344 365 
Total property, plant and equipment(a)
171,353 56,670 67,644 39,283 28,353 13,210 18,900 11,908 
Total accumulated depreciation – regulated(b)(c)
(54,323)(19,896)(22,300)(15,227)(7,067)(3,451)(6,501)(2,259)
Total accumulated depreciation – other(d)
(1,715)— — — — — — — 
Total net property, plant and equipment $115,315 $36,774 $45,344 $24,056 $21,286 $9,759 $12,399 $9,649 
(a)    Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $3 million, $67 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $7 million at Duke Energy.
Schedule of Accounts Payable and Supplier Invoices Sold
The following table presents the amounts included within Accounts payable on the Consolidated Balance Sheets sold to the financial institution by our suppliers and the supplier invoices sold to the financial institution under the program included within Net cash provided by operating activities on the Consolidated Statements of Cash Flows as of December 31, 2024, and December 31, 2023.
 For the Years Ended December 31, 2023 and 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at December 31, 2022
$87 $6 $19 $8 $11 $5 $— $57 
Invoices confirmed during the period
228 24 58 22 36 7 — 139 
Confirmed invoices paid during the period
(265)(30)(74)(30)(44)(12)— (149)
Confirmed obligations outstanding at December 31, 2023
$50 $— $3 $— $3 $— $— $47 
Invoices confirmed during the period
156 — 4 — 4 — — 152 
Confirmed invoices paid during the period
(193)— (6)— (6)— — (187)
Confirmed obligations outstanding at December 31, 2024
$13 $— $1 $— $1 $— $— $12 
Schedule of Excise Taxes Excise taxes accounted for on a gross basis within both Operating Revenues and Property and other taxes in the Consolidated Statements of Operations were as follows.
Years Ended December 31,
(in millions) 202420232022
Duke Energy $423 $458 $449 
Duke Energy Carolinas 31 27 47 
Progress Energy 285 322 290 
Duke Energy Progress 9 5 25 
Duke Energy Florida 276 317 265 
Duke Energy Ohio 105 106 104 
Duke Energy Indiana — 1 7 
Piedmont2 2 1 
v3.25.0.1
Dispositions (Tables)
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
The following table summarizes the Income (Loss) from Discontinued Operations, net of tax recorded on Duke Energy's Consolidated Statements of Operations:
Years Ended December 31,
(in millions)202420232022
Commercial Renewables Disposal Groups$12 $(1,457)$(1,349)
Other(a)
(2)2 26 
Income (Loss) from Discontinued Operations, net of tax
$10 $(1,455)$(1,323)
(a)     Amounts primarily represent income tax adjustments for previously sold businesses not related to the Commercial Renewables Disposal Groups.
The following table presents the carrying values of the major classes of Assets held for sale and Liabilities associated with assets held for sale included in Duke Energy's Consolidated Balance Sheets.
December 31,
(in millions)20242023
Current Assets Held for Sale
Other$4 $14 
Total current assets held for sale4 14 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost109 247 
Accumulated depreciation and amortization(24)(57)
Net property, plant and equipment85 190 
Operating lease right-of-use assets, net4 4 
Other— 3 
Total other noncurrent assets held for sale4 7 
Total Assets Held for Sale$93 $211 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$19 $9 
Taxes accrued1 3 
Current maturities of long-term debt
43 5 
Unrealized losses on commodity hedges
13 68 
Other4 37 
Total current liabilities associated with assets held for sale80 122 
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt— 39 
Operating lease liabilities5 5 
Asset retirement obligations5 8 
Unrealized losses on commodity hedges
66 94 
Other13 11 
Total other noncurrent liabilities associated with assets held for sale89 157 
Total Liabilities Associated with Assets Held for Sale$169 $279 
As of December 31, 2024, and 2023, the NCI balance was $18 million and $66 million, respectively.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Income (Loss) from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.
Years Ended December 31,
(in millions)202420232022
Operating revenues$4 $330 $465 
Operation, maintenance and other22302337
Depreciation and amortization(a)
— — 201
Property and other taxes24536
Other income and expenses, net— (8)2 
Interest expense46510
Loss on disposal14 1,725 1,748 
Loss before income taxes(38)(1,815)(1,865)
Income tax benefit(50)(358)(516)
Income (Loss) from discontinued operations
$12 $(1,457)$(1,349)
Add: Net (income) loss attributable to noncontrolling interest included in discontinued operations
(3)64 108 
Net income (loss) from discontinued operations attributable to Duke Energy Corporation
$9 $(1,393)$(1,241)
(a)    Upon meeting the criteria for assets held for sale, beginning in November 2022 depreciation and amortization expense were ceased.
The Commercial Renewables Disposal Groups' assets held for sale amounts presented above reflect pretax impairments recorded against property, plant and equipment of approximately $123 million and $278 million as of December 31, 2024, and 2023, respectively. The carrying amounts for the remaining assets will be updated, if necessary, based on final disposition amounts.
Duke Energy has elected not to separately disclose discontinued operations on Duke Energy's Consolidated Statements of Cash Flows. The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.
Years Ended December 31,
(in millions)202420232022
Cash flows provided by (used in):
Operating activities$7 $607 $213 
Investing activities(13)122 (802)
v3.25.0.1
Business Segments (Tables)
 12 Months Ended
Dec. 31, 2024
Segment Reporting Information [Line Items]  
Business Segment Data
Business segment information is presented in the following tables.
Year Ended December 31, 2024
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues
$28,020 $2,299 $30,319 $38 $— $30,357 
Intersegment revenues
73 91 164 119 (283)— 
Total revenues
$28,093 $2,390 $30,483 $157 $(283)$30,357 
Less:
Fuel used in electric generation and purchased power
$9,285 $— $9,285 $— $(79)$9,206 
Cost of natural gas
— 565 565 — — 565 
Operation, maintenance and other5,185 478 5,663 (79)(195)5,389 
Depreciation and amortization5,128 400 5,528 293 (28)5,793 
Property and other taxes1,305 149 1,454 12 — 1,466 
Impairment of assets and other charges37 — 37 1 — 38 
Interest expense2,006 256 2,262 1,245 (123)3,384 
Income tax expense (benefit)820 99 919 (329)— 590 
Other Segment Items
Noncontrolling interests(a)
88 (1)87 — — 87 
Preferred dividends— — — 106 — 106 
Preferred redemption costs— — — 16 — 16 
Add: Equity in (losses) earnings of unconsolidated affiliates
(11)(48)(59)50 — (9)
Add: Other(b)
542 58 600 229 (142)687 
Segment income (loss)(c)(d)(e)
$4,770 $454 $5,224 $(829)$— $4,395 
Discontinued Operations
7 
Net income available to Duke Energy Corporation Common Stockholders
$4,402 
Add back: Net income (loss) attributable to noncontrolling interest
90 
Add back: Preferred dividends
106 
Add back: Preferred redemption costs
16 
Net income
$4,614 
Capital investments expenditures and acquisitions
$10,689 $1,313 $12,002 $261 $— $12,263 
Segment assets
164,010 18,131 182,141 4,202 — 186,343 
(a)    Net income (loss) attributable to NCI related to continuing operations.
(b)    Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
(c)    EU&I includes the following in the referenced captions on the Consolidated Statements of Operations:
•$42 million recorded within Impairment of assets and other charges, $2 million within Operations, maintenance and other, and an $11 million reduction within Interest Expense related to South Carolinas rate case orders for Duke Energy Carolinas and Duke Energy Progress. See Note 4 for further information.
•$29 million recorded as a reduction of Operating revenues and $4 million as a reduction within Noncontrolling interests related to a Duke Energy Indiana regulatory liability associated with certain employee post-retirement benefits. See Note 4 for further information.
•$17 million recorded as a reduction of Operating revenues related to nonrecurring customer billing adjustments as a result of implementation of a new customer system.
•$15 million recorded within Equity in (losses) earnings of unconsolidated affiliates, primarily related to impairments for certain joint venture electric transmission projects, and $4 million within Gains on sales of other assets and other, net.
(d)    GU&I includes $1 million recorded with Operation, maintenance and other and $3 million as a charge within Other income and expenses on the Consolidated Statements of Operations related to nonrecurring customer billing adjustments as a result of implementation of a new customer system. Additionally, GU&I includes $54 million recorded within Equity in (losses) earnings of unconsolidated affiliates on the Consolidated Statements of Operations related to impairments for certain renewable natural gas investments. See Note 13 for further information.
(e)    Other includes $16 million recorded as Preferred Redemption Costs on the Consolidated Statements of Operations related to the redemption of Series B Preferred Stock. See Note 20 for further information. Additionally, Other includes $23 million recorded within Operation, maintenance and other on the Consolidated Statements of Operations related to an insurance deductible for Hurricane Helene property losses.
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues
$26,846 $2,177 $29,023 $37 $— $29,060 
Intersegment revenues
75 89 164 97 (261)— 
Total revenues
$26,921 $2,266 $29,187 $134 $(261)$29,060 
Less:
Fuel used in electric generation and purchased power
$9,164 $— $9,164 $— $(78)$9,086 
Cost of natural gas
— 593 593 — — 593 
Operation, maintenance and other
5,309 455 5,764 36 (175)5,625 
Depreciation and amortization4,684 349 5,033 248 (28)5,253 
Property and other taxes
1,320 129 1,449 (49)— 1,400 
Impairment of assets and other charges
75 (4)71 14 — 85 
Interest expense1,850 217 2,067 1,097 (150)3,014 
Income tax expense (benefit)742 116 858 (420)— 438 
Other Segment Items
Noncontrolling interests(a)
99 (2)97 — — 97 
Preferred dividends— — — 106 — 106 
Add: Equity in earnings of unconsolidated affiliates7 40 47 66 — 113 
Add: Other(b)
538 66 604 216 (170)650 
Segment income (loss)(c)(d)
$4,223 $519 $4,742 $(616)$— $4,126 
Discontinued operations(1,391)
Net income available to Duke Energy Corporation Common Stockholders
$2,735 
Add back: Net income (loss) attributable to noncontrolling interest
33 
Add back: Preferred dividends
106 
Net income
$2,874 
Capital investments expenditures and acquisitions(e)
$10,135 $1,492 $11,627 $995 $— $12,622 
Segment assets(f)
155,449 17,349 172,798 4,095 — 176,893 
(a)    Net income (loss) attributable to NCI related to continuing operations.
(b)    Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
(c)    EU&I includes $35 million recorded with Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Carolinas' Consolidated Statements of Operations; it also includes $33 million recorded within Impairment of assets and other charges and $8 million within Operations, maintenance and other primarily related to the North Carolina rate case order on Duke Energy Progress' Consolidated Statements of Operations. See Note 4 for additional information.
(d)    Other includes $110 million recorded within Operations, maintenance and other and $14 million within Impairments of assets and other charges primarily related to strategic repositioning as the Company transitions to a fully regulated utility on the Consolidated Statements of Operations. See Note 21 for additional information.
(e)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(f)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. See Note 2 for further information.
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues
$25,990 $2,748 $28,738 $30 $— $28,768 
Intersegment revenues
34 92 126 92 (218)— 
Total revenues
$26,024 $2,840 $28,864 $122 $(218)$28,768 
Less:
Fuel used in electric generation and purchased power
$8,862 $— $8,862 $— $(80)$8,782 
Cost of natural gas
— 1,276 1,276 — — 1,276 
Operation, maintenance and other
5,354 532 5,886 (23)(129)5,734 
Depreciation and amortization4,550 327 4,877 236 (27)5,086 
Property and other taxes
1,315 138 1,453 13 — 1,466 
Impairment of assets and other charges
374 (12)362 72 — 434 
Interest expense1,565 182 1,747 778 (86)2,439 
Income tax expense (benefit)536 8 544 (244)— 300 
Other Segment Items
Noncontrolling interests(a)
13 — 13 — — 13 
Preferred dividends— — — 106 — 106 
Add: Equity in earnings of unconsolidated affiliates7 20 27 86 — 113 
Add: Other(b)
467 59 526 (7)(105)414 
Segment income (loss)(c)(d)
$3,929 $468 $4,397 $(737)$(1)$3,659 
Discontinued operations
(1,215)
Net income available to Duke Energy Corporation Common Stockholders
$2,444 
Add back: Net income (loss) attributable to noncontrolling interest
(95)
Add back: Preferred dividends
106 
Net income
$2,455 
Capital investments expenditures and acquisitions(e)
$8,985 $1,295 $10,280 $1,139 $— $11,419 
Segment assets(f)
152,104 16,411 168,515 9,571 — 178,086 
(a)    Net income (loss) attributable to NCI related to continuing operations.
(b)    Other for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
(c)    EU&I includes $386 million recorded within Impairment of assets and other charges, $46 million as a reduction within Regulated electric revenues and $34 million within Noncontrolling Interests related to the Duke Energy Indiana court rulings on coal ash on the Consolidated Statements of Operations. See Note 4 for additional information.
(d)    Other includes $72 million recorded within Impairment of assets and other charges, $71 million within Operations, maintenance and other and a $7 million gain within Gains on sales of other assets related to costs attributable to business transformation, including long-term real estate strategy changes and workforce realignment on the Consolidated Statements of Operations; it also includes $25 million recorded within Operations, maintenance and other related to litigation on the Consolidated Statements of Operations.
(e)    Other includes capital investments expenditures and acquisitions related to the Commercial Renewables Disposal Groups.
(f)    Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. See Note 2 for further information.
Schedule of Revenue, By Products and Services
Products and Services
The following table summarizes revenues of the reportable segments by type.
RetailWholesaleRetailTotal
(in millions)ElectricElectricNatural GasOther Revenues
2024
Electric Utilities and Infrastructure$24,593 $2,219 $— $1,281 $28,093 
Gas Utilities and Infrastructure— — 2,320 70 2,390 
Total Reportable Segments$24,593 $2,219 $2,320 $1,351 $30,483 
2023
Electric Utilities and Infrastructure$23,484 $2,193 $— $1,244 $26,921 
Gas Utilities and Infrastructure— — 2,199 67 2,266 
Total Reportable Segments$23,484 $2,193 $2,199 $1,311 $29,187 
2022
Electric Utilities and Infrastructure$22,036 $2,882 $— $1,106 $26,024 
Gas Utilities and Infrastructure— — 2,535 305 2,840 
Total Reportable Segments$22,036 $2,882 $2,535 $1,411 $28,864 
Duke Energy Carolinas  
Segment Reporting Information [Line Items]  
Business Segment Data
Duke Energy Carolinas has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in North Carolina and South Carolina. EU&I conducts operations primarily through Duke Energy Carolinas. The remainder of Duke Energy Carolinas' operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$9,718 $— $9,718 
Less:
Fuel used in electric generation and purchased power
$3,251 $— $3,251 
Operation, maintenance and other
1,710 30 1,740 
Depreciation and amortization1,768 — 1,768 
Property and other taxes
346 — 346 
Impairment of assets and other charges
31 — 31 
Interest expense722 — 722 
Income tax expense (benefit)233 (7)226 
Add: Other segment items(a)
252 (3)249 
Segment income (loss) / Net income
$1,909 $(26)$1,883 
Capital expenditures
$3,966 $— $3,966 
Segment assets
54,782 223 55,005 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$8,288 $— $8,288 
Less:
Fuel used in electric generation and purchased power
$2,524 $— $2,524 
Operation, maintenance and other
1,689 85 1,774 
Depreciation and amortization1,593 — 1,593 
Property and other taxes
320 — 320 
Impairment of assets and other charges
44 — 44 
Interest expense686 — 686 
Income tax expense (benefit)162 (21)141 
Add: Other segment items(a)
267 (3)264 
Segment income (loss) / Net income
$1,537 $(67)$1,470 
Capital expenditures
$3,733 $— $3,733 
Segment assets
51,908 202 52,110 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$7,857 $— $7,857 
Less:
Fuel used in electric generation and purchased power
$2,015 $— $2,015 
Operation, maintenance and other
1,845 47 1,892 
Depreciation and amortization1,526 — 1,526 
Property and other taxes
340 — 340 
Impairment of assets and other charges
(18)44 26 
Interest expense557 — 557 
Income tax expense (benefit)148 (22)126 
Add: Other segment items(a)
228 (3)225 
Segment income (loss) / Net income
$1,672 $(72)$1,600 
Capital expenditures
$3,304 $— $3,304 
Segment assets
49,956 390 50,346 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Progress Energy  
Segment Reporting Information [Line Items]  
Business Segment Data
Progress Energy has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in North Carolina, South Carolina and Florida. EU&I conducts operations primarily through its wholly owned subsidiaries, Duke Energy Progress and Duke Energy Florida. The remainder of Progress Energy's operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$13,612 $21 $13,633 
Less:
Fuel used in electric generation and purchased power
$4,755 $— $4,755 
Operation, maintenance and other
2,413 50 2,463 
Depreciation and amortization2,393 — 2,393 
Property and other taxes
617 — 617 
Impairment of assets and other charges
6 — 6 
Interest expense949 115 1,064 
Income tax expense (benefit)465 (39)426 
Add: Other segment items(a)
224 38 262 
Segment income (loss) / Net income
$2,238 $(67)$2,171 
Capital expenditures
$5,252 $— $5,252 
Segment assets
67,951 3,685 71,636 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$13,524 $20 $13,544 
Less:
Fuel used in electric generation and purchased power
$5,026 $— $5,026 
Operation, maintenance and other
2,554 82 2,636 
Depreciation and amortization2,151 — 2,151 
Property and other taxes
644 — 644 
Impairment of assets and other charges
28 — 28 
Interest expense840 114 954 
Income tax expense (benefit)426 (49)377 
Add: Other segment items(a)
210 18 228 
Segment income (loss) / Net income
$2,065 $(109)$1,956 
Capital expenditures
$4,917 $— $4,917 
Segment assets
63,182 3,912 67,094 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$13,106 $19 $13,125 
Less:
Fuel used in electric generation and purchased power
$5,078 $— $5,078 
Operation, maintenance and other
2,395 63 2,458 
Depreciation and amortization2,142 — 2,142 
Property and other taxes
611 (4)607 
Impairment of assets and other charges
5 7 12 
Interest expense716 128 844 
Income tax expense (benefit)396 (48)348 
Add: Other segment items(a)
205 (13)192 
Segment income (loss) / Net income
$1,968 $(140)$1,828 
Capital expenditures
$4,317 $— $4,317 
Segment assets
62,183 3,896 66,079 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Progress  
Segment Reporting Information [Line Items]  
Business Segment Data
Duke Energy Progress has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in North Carolina and South Carolina. EU&I conducts operations primarily through Duke Energy Progress. The remainder of Duke Energy Progress' operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$7,017 $— $7,017 
Less:
Fuel used in electric generation and purchased power
$2,409 $— $2,409 
Operation, maintenance and other
1,370 18 1,388 
Depreciation and amortization1,336 — 1,336 
Property and other taxes
177 — 177 
Impairment of assets and other charges
6 — 6 
Interest expense492 1 493 
Income tax expense (benefit)194 (5)189 
Add: Other segment items(a)
138 7 145 
Segment income (loss) / Net income
$1,171 $(7)$1,164 
Capital expenditures
$2,803 $— $2,803 
Segment assets
39,402 91 39,493 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,488 $— $6,488 
Less:
Fuel used in electric generation and purchased power
$2,203 $— $2,203 
Operation, maintenance and other
1,342 37 1,379 
Depreciation and amortization1,266 — 1,266 
Property and other taxes
164 — 164 
Impairment of assets and other charges
29 — 29 
Interest expense427 — 427 
Income tax expense (benefit)158 (9)149 
Add: Other segment items(a)
128 (1)127 
Segment income (loss) / Net income
$1,027 $(29)$998 
Capital expenditures
$2,387 $— $2,387 
Segment assets
36,820 104 36,924 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,753 $— $6,753 
Less:
Fuel used in electric generation and purchased power
$2,492 $— $2,492 
Operation, maintenance and other
1,447 28 1,475 
Depreciation and amortization1,187 — 1,187 
Property and other taxes
190 — 190 
Impairment of assets and other charges
5 2 7 
Interest expense354 — 354 
Income tax expense (benefit)165 (7)158 
Add: Other segment items(a)
119 (1)118 
Segment income (loss) / Net income
$1,032 $(24)$1,008 
Capital expenditures
$2,070 $— $2,070 
Segment assets
36,631 121 36,752 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Florida  
Segment Reporting Information [Line Items]  
Business Segment Data
Duke Energy Florida has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in Florida. EU&I conducts operations primarily through Duke Energy Florida. The remainder of Duke Energy Florida's operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,595 $— $6,595 
Less:
Fuel used in electric generation and purchased power
$2,346 $— $2,346 
Operation, maintenance and other
1,043 12 1,055 
Depreciation and amortization1,057 — 1,057 
Property and other taxes
440 — 440 
Interest expense457 — 457 
Income tax expense (benefit)271 (3)268 
Add: Other segment items(a)
86 3 89 
Segment income (loss) / Net income
$1,067 $(6)$1,061 
Capital expenditures
$2,449 $— $2,449 
Segment assets
28,549 20 28,569 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$7,036 $— $7,036 
Less:
Fuel used in electric generation and purchased power
$2,823 $— $2,823 
Operation, maintenance and other
1,212 27 1,239 
Depreciation and amortization885 — 885 
Property and other taxes
480 — 480 
Impairment of assets and other charges
(1)— (1)
Interest expense413 — 413 
Income tax expense (benefit)268 (7)261 
Add: Other segment items(a)
82 (2)80 
Segment income (loss) / Net income
$1,038 $(22)$1,016 
Capital expenditures
$2,529 $— $2,529 
Segment assets
26,362 239 26,601 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$6,353 $— $6,353 
Less:
Fuel used in electric generation and purchased power
$2,586 $— $2,586 
Operation, maintenance and other
948 19 967 
Depreciation and amortization955 — 955 
Property and other taxes
421 — 421 
Impairment of assets and other charges
— 4 4 
Interest expense362 — 362 
Income tax expense (benefit)231 (6)225 
Add: Other segment items(a)
86 (10)76 
Segment income (loss) / Net income
$936 $(27)$909 
Capital expenditures
$2,247 $— $2,247 
Segment assets
25,552 2 25,554 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Ohio  
Segment Reporting Information [Line Items]  
Business Segment Data
Duke Energy Ohio has two reportable segments, EU&I and GU&I.
EU&I transmits and distributes electricity in portions of Ohio and generates, distributes and sells electricity in portions of Northern Kentucky. GU&I transports and sells natural gas in portions of Ohio and Northern Kentucky. Both reportable segments conduct operations primarily through Duke Energy Ohio and its wholly owned subsidiary, Duke Energy Kentucky. The remainder of Duke Energy Ohio's operations is presented as Other.
Year Ended December 31, 2024
ElectricGasTotal
Utilities andUtilities andReportable
Eliminations/
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$1,905 $640 $2,545 — $2,545 
Less:
Fuel used in electric generation and purchased power
$538 $— $538 $— $538 
Cost of natural gas
— 142 142 — 142 
Operation, maintenance and other
366 109 475 10 485 
Depreciation and amortization273 131 404 (1)403 
Property and other taxes
306 94 400 — 400 
Interest expense126 68 194 (2)192 
Income tax expense (benefit)47 18 65 (1)64 
Add: Other segment items(a)
15 5 20 — 20 
Segment income (loss) / Net income
$264 $83 $347 $(6)$341 
Capital expenditures$535 $280 $815 $— $815 
Segment assets8,211 4,506 12,717 51 12,768 
Year Ended December 31, 2023
ElectricGasTotal
Utilities andUtilities andReportable
Eliminations/
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$1,868 $639 $2,507 $— $2,507 
Less:
Fuel used in electric generation and purchased power
$608 $— 608 $— 608 
Cost of natural gas
— 163 163 — 163 
Operation, maintenance and other
351 118 469 9 478 
Depreciation and amortization257 110 367 — 367 
Property and other taxes
294 70 364 — 364 
Impairment of assets and other charges
2 — 2 1 3 
Interest expense116 53 169 — 169 
Income tax expense (benefit)42 23 65 (2)63 
Add: Other segment items(a)
29 14 43 (1)42 
Segment income (loss) / Net income
$227 $116 $343 $(9)$334 
Capital expenditures$520 $419 $939 $— $939 
Segment assets7,978 4,346 12,324 (108)12,216 
Year Ended December 31, 2022
ElectricGasTotal
Utilities andUtilities andReportable
Eliminations/
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$1,798 $716 $2,514 $— $2,514 
Less:
Fuel used in electric generation and purchased power
$657 $— $657 $— $657 
Cost of natural gas
— 261 261 — 261 
Operation, maintenance and other
345 170 515 8 523 
Depreciation and amortization221 103 324 — 324 
Property and other taxes
288 81 369 — 369 
Impairment of assets and other charges
1 (12)(11)1 (10)
Interest expense86 43 129 — 129 
Income tax expense (benefit)24 (43)(19)(2)(21)
Add: Other segment items(a)
13 8 21 (1)20 
Segment income (loss) / Net income
$189 $121 $310 $(8)$302 
Capital expenditures$488 $362 $850 $— $850 
Segment assets7,504 4,164 11,668 (162)11,506 
(a)    Other segment items for EU&I and GU&I includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Duke Energy Indiana  
Segment Reporting Information [Line Items]  
Business Segment Data
Duke Energy Indiana has one reportable segment, EU&I.
EU&I generates, distributes and sells electricity in Indiana. EU&I conducts operations primarily through Duke Energy Indiana. The remainder of Duke Energy Indiana's operations is presented as Other.
Year Ended December 31, 2024
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$3,040 $— $3,040 
Less:
Fuel used in electric generation and purchased power
$964 $— $964 
Operation, maintenance and other
666 5 671 
Depreciation and amortization676 — 676 
Property and other taxes
50 — 50 
Interest expense228 1 229 
Income tax expense (benefit)72 (1)71 
Add: Other segment items(a)
62 — 62 
Segment income (loss) / Net income
$446 $(5)$441 
Capital expenditures
$935 $— $935 
Segment assets
15,726 1 15,727 
Year Ended December 31, 2023
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$3,399 $— $3,399 
Less:
Fuel used in electric generation and purchased power
$1,217 $— $1,217 
Operation, maintenance and other
695 18 713 
Depreciation and amortization666 — 666 
Property and other taxes
59 — 59 
Impairment of assets and other charges
(1)1 — 
Interest expense213 — 213 
Income tax expense (benefit)115 (5)110 
Add: Other segment items(a)
77 (1)76 
Segment income (loss) / Net income
$512 $(15)$497 
Capital expenditures
$961 $— $961 
Segment assets
14,966 (155)14,811 
Year Ended December 31, 2022
Electric
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$3,922 $— $3,922 
Less:
Fuel used in electric generation and purchased power
$1,819 $— $1,819 
Operation, maintenance and other
719 10 729 
Depreciation and amortization645 — 645 
Property and other taxes
75 — 75 
Impairment of assets and other charges
387 1 388 
Interest expense189 — 189 
Income tax expense (benefit)(20)(4)(24)
Add: Other segment items(a)
38 (2)36 
Segment income (loss) / Net income
$146 $(9)$137 
Capital expenditures
$877 $— $877 
Segment assets
14,864 (210)14,654 
(a)    Other segment items includes Gains on sales of other assets and other, net, and Other income and expenses, net.
Piedmont  
Segment Reporting Information [Line Items]  
Business Segment Data
Piedmont has one reportable segment, GU&I.
GU&I distributes and sells natural gas in North Carolina, South Carolina and Tennessee. GU&I conducts operations primarily through Piedmont. The remainder of Piedmont's operations is presented as Other.
Year Ended December 31, 2024
Gas
Utilities and
Eliminations/
(in millions)Infrastructure
Other
Total
Total revenues
$1,729 $— $1,729 
Less:
Cost of natural gas
$423 $— $423 
Operation, maintenance and other
355 4 359 
Depreciation and amortization261 — 261 
Property and other taxes
55 — 55 
Interest expense185 — 185 
Income tax expense (benefit)94 1 95 
Other Segment Items
Add: Equity in earnings of unconsolidated affiliates— 8 8 
Add: Other(a)
54 — 54 
Segment income (loss) / Net income
$410 $3 $413 
Capital expenditures
$1,025 $— $1,025 
Segment assets
11,707 92 11,799 
Year Ended December 31, 2023
Gas
Utilities and
Eliminations/
(in millions)Infrastructure
Other
Total
Total revenues
$1,628 $— $1,628 
Less:
Cost of natural gas
$430 $— $430 
Operation, maintenance and other
336 8 344 
Depreciation and amortization237 — 237 
Property and other taxes
59 — 59 
Impairment of assets and other charges
(4)— (4)
Interest expense165 — 165 
Income tax expense (benefit)84 — 84 
Other Segment Items
Add: Equity in earnings of unconsolidated affiliates— 9 9 
Add: Other(a)
59 (2)57 
Segment income (loss) / Net income
$380 $(1)$379 
Capital expenditures
$1,036 $— $1,036 
Segment assets
10,978 89 11,067 
Year Ended December 31, 2022
Gas
Utilities and
Eliminations/
(in millions)
Infrastructure
Other
Total
Total revenues
$2,124 $— $2,124 
Less:
Cost of natural gas
$1,015 $— $1,015 
Operation, maintenance and other
360 8 368 
Depreciation and amortization222 — 222 
Property and other taxes
57 — 57 
Impairment of assets and other charges
— 18 18 
Interest expense140 — 140 
Income tax expense (benefit)43 (4)39 
Other Segment Items
Add: Equity in earnings of unconsolidated affiliates— 8 8 
Add: Other(a)
47 3 50 
Segment income (loss) / Net income
$334 $(11)$323 
Capital expenditures
$862 $— $862 
Segment assets
10,243 92 10,335 
(a)    Other includes Gains on sales of other assets and other, net, and Other income and expenses, net.
v3.25.0.1
Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2024
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
Duke EnergyProgress Energy
December 31,December 31,
(in millions)2024202320242023
Regulatory Assets
AROs – coal ash$3,384 $3,214 $1,335 $1,230 
Accrued pension and OPEB2,524 2,389 828 757 
Storm cost deferrals1,951 407 1,238 298 
Storm cost securitized balance, net1,023 890 822 682 
AROs – nuclear and other952 1,179 905 1,127 
Nuclear asset securitized balance, net771 830 771 830 
Debt fair value adjustment719 774 — — 
COR regulatory asset646 371 571 337 
Deferred fuel and purchased power588 2,486 282 1,173 
Hedge costs deferrals352 749 126 323 
PISCC and deferred operating expenses331 357 37 42 
Retired generation facilities281 275 202 220 
Customer connect project257 260 116 125 
Grid Deferral255 210 54 51 
Incremental COVID-19 expenses231 237 89 80 
Vacation accrual228 228 43 43 
Deferred asset – Lee and Harris COLA215 252 10 15 
Advanced metering infrastructure (AMI)204 243 70 92 
Demand side management (DSM) / Energy efficiency (EE)199 201 199 191 
CEP deferral195 193 — — 
NCEMPA deferrals179 172 179 172 
Decoupling162 115 32 15 
Nuclear deferral134 131 53 42 
Deferred pipeline integrity costs129 133 — — 
COR settlement110 115 29 30 
Coal plant securitization102 8 39 8 
Derivatives – natural gas supply contracts94 147 — — 
Deferred coal ash handling system costs77 86 17 21 
Qualifying facility contract buyouts62 68 62 68 
Tennessee ARM Deferral33 20 — — 
Network Integration Transmission Services deferral31 31 — — 
Transmission expansion obligation31 30 — — 
East Bend deferrals24 28 — — 
Propane caverns24 26 — — 
Other512 411 156 119 
Total regulatory assets17,010 17,266 8,265 8,091 
Less: Current portion
2,756 3,648 1,647 1,661 
Total noncurrent regulatory assets$14,254 $13,618 $6,618 $6,430 
Regulatory Liabilities
COR regulatory liability$5,436 $5,497 $2,984 $2,805 
Net regulatory liability related to income taxes5,397 5,901 1,884 2,008 
AROs – nuclear and other2,289 1,673 — — 
Deferred Nuclear PTC676 — 95 — 
Hedge cost deferrals583 443 281 208 
Renewable energy credits241 237 139 138 
Accrued pension and OPEB232 266 12 — 
Deferred fuel and purchased power223 137 94 14 
DSM / EE58 89 — — 
DOE Settlement— 32 — 32 
Other984 1,133 291 296 
Total regulatory liabilities 16,119 15,408 5,780 5,501 
Less: Current portion
1,425 1,369 522 418 
Total noncurrent regulatory liabilities $14,694 $14,039 $5,258 $5,083 
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.
Duke EnergyProgress Energy
December 31,December 31,
(in millions)2024202320242023
Regulatory Assets
AROs – coal ash$3,384 $3,214 $1,335 $1,230 
Accrued pension and OPEB2,524 2,389 828 757 
Storm cost deferrals1,951 407 1,238 298 
Storm cost securitized balance, net1,023 890 822 682 
AROs – nuclear and other952 1,179 905 1,127 
Nuclear asset securitized balance, net771 830 771 830 
Debt fair value adjustment719 774 — — 
COR regulatory asset646 371 571 337 
Deferred fuel and purchased power588 2,486 282 1,173 
Hedge costs deferrals352 749 126 323 
PISCC and deferred operating expenses331 357 37 42 
Retired generation facilities281 275 202 220 
Customer connect project257 260 116 125 
Grid Deferral255 210 54 51 
Incremental COVID-19 expenses231 237 89 80 
Vacation accrual228 228 43 43 
Deferred asset – Lee and Harris COLA215 252 10 15 
Advanced metering infrastructure (AMI)204 243 70 92 
Demand side management (DSM) / Energy efficiency (EE)199 201 199 191 
CEP deferral195 193 — — 
NCEMPA deferrals179 172 179 172 
Decoupling162 115 32 15 
Nuclear deferral134 131 53 42 
Deferred pipeline integrity costs129 133 — — 
COR settlement110 115 29 30 
Coal plant securitization102 8 39 8 
Derivatives – natural gas supply contracts94 147 — — 
Deferred coal ash handling system costs77 86 17 21 
Qualifying facility contract buyouts62 68 62 68 
Tennessee ARM Deferral33 20 — — 
Network Integration Transmission Services deferral31 31 — — 
Transmission expansion obligation31 30 — — 
East Bend deferrals24 28 — — 
Propane caverns24 26 — — 
Other512 411 156 119 
Total regulatory assets17,010 17,266 8,265 8,091 
Less: Current portion
2,756 3,648 1,647 1,661 
Total noncurrent regulatory assets$14,254 $13,618 $6,618 $6,430 
Regulatory Liabilities
COR regulatory liability$5,436 $5,497 $2,984 $2,805 
Net regulatory liability related to income taxes5,397 5,901 1,884 2,008 
AROs – nuclear and other2,289 1,673 — — 
Deferred Nuclear PTC676 — 95 — 
Hedge cost deferrals583 443 281 208 
Renewable energy credits241 237 139 138 
Accrued pension and OPEB232 266 12 — 
Deferred fuel and purchased power223 137 94 14 
DSM / EE58 89 — — 
DOE Settlement— 32 — 32 
Other984 1,133 291 296 
Total regulatory liabilities 16,119 15,408 5,780 5,501 
Less: Current portion
1,425 1,369 522 418 
Total noncurrent regulatory liabilities $14,694 $14,039 $5,258 $5,083 
Schedule of Potential Plant Retirements
Total Storm Registration Costs Across Subsidiary Registrants Total estimated costs for storm restoration and rebuilding of infrastructure, including capital expenditures, for hurricanes Debby, Helene and Milton, net of expected insurance recoveries, are estimated to be approximately $2.8 billion, of which approximately $2.6 billion had been incurred as of December 31, 2024, with $0.2 billion estimated to be incurred for rebuilding in 2025. The following shows the total cost estimates for the registrants that were primarily impacted:
(in millions)
Cost Estimate(a)
Duke Energy Carolinas$1,150 
Duke Energy Progress450 
Duke Energy Florida1,150 
(a)    These estimates could change as the rebuilding of infrastructure is finalized. Duke Energy Florida was the only jurisdiction materially impacted by Hurricane Milton.
Duke Energy Carolinas and Duke Energy Progress
Duke Energy Carolinas  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,481 $1,559 (g)(b)
Storm cost deferrals
691 97 Yes(b)
Accrued pension and OPEB
668 671 (h)
Deferred fuel and purchased power
298 1,293 (e)2026
Deferred asset – Lee COLA
205 237 (b)
Hedge costs deferrals
202 405 (b)
Storm cost securitized balance, net
201 208 Yes2041
Grid Deferral(c)
201 159 Yes(b)
Incremental COVID-19 expenses
137 152 Yes(b)
AMI(c)
114 125 Yes(b)
Vacation accrual
86 87 2025
Nuclear deferral
81 89 2026
COR settlement(c)
81 85 Yes(b)
Coal plant securitization63 — Yes(b)
Deferred coal ash handling system costs(c)
60 65 Yes(b)
Customer connect project(c)
54 58 Yes(b)
Retired generation facilities(c)
54 26 Yes(b)
PISCC and deferred operating expenses
42 48 Yes(b)
Decoupling
24 — Yes(b)
Other141 116 (b)
Total regulatory assets4,884 5,480 
Less: Current portion
685 1,564 
Total noncurrent regulatory assets$4,199 $3,916 
Regulatory Liabilities(a)
AROs – nuclear and other
$2,289 1,673 (b)
Net regulatory liability related to income taxes(d)
1,951 $2,200 Yes(b)
COR regulatory liability(c)
1,479 1,641 Yes(f)
Deferred Nuclear PTC581 — Yes2030
Hedge cost deferrals
199 158 (b)
Deferred fuel and purchased power
108 85 (e)2026
Renewable energy credits102 99 Yes(b)
DSM / EE(c)
53 87 Yes(i)
Accrued pension and OPEB
35 106 (h)
Other 413 528 (b)
Total regulatory liabilities7,210 6,577 
Less: Current portion
618 587 
Total noncurrent regulatory liabilities$6,592 $5,990 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    Recovered over the life of the associated assets.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(i)    Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,481 $1,559 (g)(b)
Storm cost deferrals
691 97 Yes(b)
Accrued pension and OPEB
668 671 (h)
Deferred fuel and purchased power
298 1,293 (e)2026
Deferred asset – Lee COLA
205 237 (b)
Hedge costs deferrals
202 405 (b)
Storm cost securitized balance, net
201 208 Yes2041
Grid Deferral(c)
201 159 Yes(b)
Incremental COVID-19 expenses
137 152 Yes(b)
AMI(c)
114 125 Yes(b)
Vacation accrual
86 87 2025
Nuclear deferral
81 89 2026
COR settlement(c)
81 85 Yes(b)
Coal plant securitization63 — Yes(b)
Deferred coal ash handling system costs(c)
60 65 Yes(b)
Customer connect project(c)
54 58 Yes(b)
Retired generation facilities(c)
54 26 Yes(b)
PISCC and deferred operating expenses
42 48 Yes(b)
Decoupling
24 — Yes(b)
Other141 116 (b)
Total regulatory assets4,884 5,480 
Less: Current portion
685 1,564 
Total noncurrent regulatory assets$4,199 $3,916 
Regulatory Liabilities(a)
AROs – nuclear and other
$2,289 1,673 (b)
Net regulatory liability related to income taxes(d)
1,951 $2,200 Yes(b)
COR regulatory liability(c)
1,479 1,641 Yes(f)
Deferred Nuclear PTC581 — Yes2030
Hedge cost deferrals
199 158 (b)
Deferred fuel and purchased power
108 85 (e)2026
Renewable energy credits102 99 Yes(b)
DSM / EE(c)
53 87 Yes(i)
Accrued pension and OPEB
35 106 (h)
Other 413 528 (b)
Total regulatory liabilities7,210 6,577 
Less: Current portion
618 587 
Total noncurrent regulatory liabilities$6,592 $5,990 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)     Included in rate base.
(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    Recovered over the life of the associated assets.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(i)    Includes incentives on DSM/EE investments and is recovered or refunded through an annual rider mechanism.
Duke Energy Progress  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,322 $1,218 (g)(b)
AROs – nuclear and other
900 1,110 (c)
Storm cost securitized balance, net
822 682 Yes(b)
Accrued pension and OPEB
439 408 (j)
Deferred fuel and purchased power
277 579 (e)2026
Storm cost deferrals
276 228 Yes(b)
DSM/EE(d)
188 182 Yes(h)
NCEMPA deferrals(d)
179 172 (f)2042
Retired generation facilities(d)
108 126 Yes(b)
Incremental COVID-19 expenses
89 80 (b)
Hedge costs deferrals
85 260 (b)
AMI(d)
54 68 Yes(b)
Grid Deferral(d)
54 51 Yes(b)
Nuclear deferral
53 42 2026
Customer connect project(d)
45 49 Yes(b)
Vacation accrual
43 43 2025
Coal plant securitization39 8 Yes(b)
PISCC and deferred operating expenses
37 42 Yes2054
Decoupling
32 15 Yes(b)
COR settlement(d)
29 30 Yes(b)
Deferred coal ash handling system costs(d)
17 21 Yes(b)
Deferred asset – Harris COLA
10 15 (b)
Other83 59 (b)
Total regulatory assets5,181 5,488 
Less: Current portion
626 942 
Total noncurrent regulatory assets$4,555 $4,546 
Regulatory Liabilities(a)
COR regulatory liability
$2,984 2,805 (i)
Net regulatory liability related to income taxes(k)
1,320 $1,420 Yes(b)
Hedge cost deferrals
151 87 (b)
Renewable energy credits139 138 Yes(b)
Deferred Nuclear PTC95 — Yes(b)
Accrued pension and OPEB
12 — (j)
Deferred fuel and purchased power
10 14 (e)2026
Other 207 211 (b)
Total regulatory liabilities4,918 4,675 
Less: Current portion
348 300 
Total noncurrent regulatory liabilities$4,570 $4,375 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.
(d)    Included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    South Carolina retail allocated costs are earning a return.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.
(i)    Recovered over the life of the associated assets.
(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$1,322 $1,218 (g)(b)
AROs – nuclear and other
900 1,110 (c)
Storm cost securitized balance, net
822 682 Yes(b)
Accrued pension and OPEB
439 408 (j)
Deferred fuel and purchased power
277 579 (e)2026
Storm cost deferrals
276 228 Yes(b)
DSM/EE(d)
188 182 Yes(h)
NCEMPA deferrals(d)
179 172 (f)2042
Retired generation facilities(d)
108 126 Yes(b)
Incremental COVID-19 expenses
89 80 (b)
Hedge costs deferrals
85 260 (b)
AMI(d)
54 68 Yes(b)
Grid Deferral(d)
54 51 Yes(b)
Nuclear deferral
53 42 2026
Customer connect project(d)
45 49 Yes(b)
Vacation accrual
43 43 2025
Coal plant securitization39 8 Yes(b)
PISCC and deferred operating expenses
37 42 Yes2054
Decoupling
32 15 Yes(b)
COR settlement(d)
29 30 Yes(b)
Deferred coal ash handling system costs(d)
17 21 Yes(b)
Deferred asset – Harris COLA
10 15 (b)
Other83 59 (b)
Total regulatory assets5,181 5,488 
Less: Current portion
626 942 
Total noncurrent regulatory assets$4,555 $4,546 
Regulatory Liabilities(a)
COR regulatory liability
$2,984 2,805 (i)
Net regulatory liability related to income taxes(k)
1,320 $1,420 Yes(b)
Hedge cost deferrals
151 87 (b)
Renewable energy credits139 138 Yes(b)
Deferred Nuclear PTC95 — Yes(b)
Accrued pension and OPEB
12 — (j)
Deferred fuel and purchased power
10 14 (e)2026
Other 207 211 (b)
Total regulatory liabilities4,918 4,675 
Less: Current portion
348 300 
Total noncurrent regulatory liabilities$4,570 $4,375 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.
(d)    Included in rate base.
(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina. The asset balance principally relates to North Carolina costs while the liability balance relates to South Carolina.
(f)    South Carolina retail allocated costs are earning a return.
(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.
(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.
(i)    Recovered over the life of the associated assets.
(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate. Portions are included in rate base.
Duke Energy Florida  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
Storm cost deferrals(c)
$962 70 (e)(b)
Nuclear asset securitized balance, net
771 830 2036
COR regulatory asset
571 337 (d)(b)
Accrued pension and OPEB(c)
389 349 Yes(f)
Retired generation facilities(c)
94 94 Yes2044
Customer connect project(c)
71 76 Yes2037
Qualifying facility contract buyouts(c)
62 68 Yes2034
Hedge costs deferrals(c)
41 63 Yes2038
AMI(c)
16 24 Yes2032
AROs – coal ash
13 $12 (b)
AROs – nuclear and other
5 17 (b)
Deferred fuel and purchased power
5 594 (e)2025
Other86 69 (d)(b)
Total regulatory assets3,086 2,603 
Less: Current portion
1,022 720 
Total noncurrent regulatory assets$2,064 $1,883 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)
$564 $588 (b)
Hedge cost deferrals(c)
130 121 Yes(b)
DOE Settlement
— 32 
Deferred fuel and purchased power(c)
84 — (e)2025
Other 84 85 (d)(b)
Total regulatory liabilities862 826 
Less: Current portion
174 118 
Total noncurrent regulatory liabilities$688 $708 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns commercial paper rate.
(f)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
Storm cost deferrals(c)
$962 70 (e)(b)
Nuclear asset securitized balance, net
771 830 2036
COR regulatory asset
571 337 (d)(b)
Accrued pension and OPEB(c)
389 349 Yes(f)
Retired generation facilities(c)
94 94 Yes2044
Customer connect project(c)
71 76 Yes2037
Qualifying facility contract buyouts(c)
62 68 Yes2034
Hedge costs deferrals(c)
41 63 Yes2038
AMI(c)
16 24 Yes2032
AROs – coal ash
13 $12 (b)
AROs – nuclear and other
5 17 (b)
Deferred fuel and purchased power
5 594 (e)2025
Other86 69 (d)(b)
Total regulatory assets3,086 2,603 
Less: Current portion
1,022 720 
Total noncurrent regulatory assets$2,064 $1,883 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)
$564 $588 (b)
Hedge cost deferrals(c)
130 121 Yes(b)
DOE Settlement
— 32 
Deferred fuel and purchased power(c)
84 — (e)2025
Other 84 85 (d)(b)
Total regulatory liabilities862 826 
Less: Current portion
174 118 
Total noncurrent regulatory liabilities$688 $708 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Certain costs earn/pay a return.
(e)    Earns commercial paper rate.
(f)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Duke Energy Ohio  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
CEP deferral
$195 193 Yes(b)
Accrued pension and OPEB
131 123 (d)
COR regulatory asset
75 34 (b)
Customer connect project
44 49 (b)
Network Integration Transmission Services deferral
31 31 Yes(b)
Transmission expansion obligation
31 30 (b)
Decoupling
29 25 (b)
Deferred pipeline integrity costs
28 30 Yes(b)
East Bend deferrals(c)
24 28 Yes(b)
Propane caverns
24 26 (b)
PISCC and deferred operating expenses(c)
15 15 Yes2083
AROs – coal ash
14 $17 Yes(b)
Deferred fuel and purchased gas costs
8 20 2025
AMI
8 13 (b)
Storm cost deferrals
5 12 2025
Other131 103 (b)
Total regulatory assets793 749 
Less: Current portion
88 73 
Total noncurrent regulatory assets$705 $676 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$432 $466 (b)
Accrued pension and OPEB
14 17 (d)
Deferred fuel and purchased gas costs
— 15 2025
Other 53 55 (b)
Total regulatory liabilities499 553 
Less: Current portion
34 56 
Total noncurrent regulatory liabilities$465 $497 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
CEP deferral
$195 193 Yes(b)
Accrued pension and OPEB
131 123 (d)
COR regulatory asset
75 34 (b)
Customer connect project
44 49 (b)
Network Integration Transmission Services deferral
31 31 Yes(b)
Transmission expansion obligation
31 30 (b)
Decoupling
29 25 (b)
Deferred pipeline integrity costs
28 30 Yes(b)
East Bend deferrals(c)
24 28 Yes(b)
Propane caverns
24 26 (b)
PISCC and deferred operating expenses(c)
15 15 Yes2083
AROs – coal ash
14 $17 Yes(b)
Deferred fuel and purchased gas costs
8 20 2025
AMI
8 13 (b)
Storm cost deferrals
5 12 2025
Other131 103 (b)
Total regulatory assets793 749 
Less: Current portion
88 73 
Total noncurrent regulatory assets$705 $676 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$432 $466 (b)
Accrued pension and OPEB
14 17 (d)
Deferred fuel and purchased gas costs
— 15 2025
Other 53 55 (b)
Total regulatory liabilities499 553 
Less: Current portion
34 56 
Total noncurrent regulatory liabilities$465 $497 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Duke Energy Indiana  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$554 $408 Yes(b)
PISCC and deferred operating expenses(c)
237 241 Yes(b)
Accrued pension and OPEB
212 208 (e)
Retired generation facilities(c)
25 29 Yes2030
Hedge costs deferrals
23 19 (b)
Customer connect project
19 19 (b)
Storm cost deferrals
17 11 (b)
AMI
12 13 2031
Other54 48 (b)
Total regulatory assets1,153 996 
Less: Current portion
113 102 
Total noncurrent regulatory assets$1,040 $894 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$725 $794 (b)
COR regulatory liability
434 496 (d)
Accrued pension and OPEB
139 109 (e)
Hedge cost deferrals
103 77 (b)
Deferred fuel and purchased power
21 23 2025
Other 165 169 (b)
Total regulatory liabilities1,587 1,668 
Less: Current portion
183 209 
Total noncurrent regulatory liabilities$1,404 $1,459 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Refunded over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
AROs – coal ash
$554 $408 Yes(b)
PISCC and deferred operating expenses(c)
237 241 Yes(b)
Accrued pension and OPEB
212 208 (e)
Retired generation facilities(c)
25 29 Yes2030
Hedge costs deferrals
23 19 (b)
Customer connect project
19 19 (b)
Storm cost deferrals
17 11 (b)
AMI
12 13 2031
Other54 48 (b)
Total regulatory assets1,153 996 
Less: Current portion
113 102 
Total noncurrent regulatory assets$1,040 $894 
Regulatory Liabilities(a)
Net regulatory liability related to income taxes
$725 $794 (b)
COR regulatory liability
434 496 (d)
Accrued pension and OPEB
139 109 (e)
Hedge cost deferrals
103 77 (b)
Deferred fuel and purchased power
21 23 2025
Other 165 169 (b)
Total regulatory liabilities1,587 1,668 
Less: Current portion
183 209 
Total noncurrent regulatory liabilities$1,404 $1,459 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Refunded over the life of the associated assets.
(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Piedmont  
Public Utilities, General Disclosures [Line Items]  
Schedule of Regulatory Assets
The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
Accrued pension and OPEB(c)
144 129 (g)
Deferred pipeline integrity costs(c)
101 103 2034
Derivatives – natural gas supply contracts(f)
94 147 
Decoupling
77 75 (e)(b)
Tennessee ARM Deferral
33 20 (e)(b)
AROs – nuclear and other
29 $26 (d)
Customer connect project(c)
24 9 2030
Vacation accrual
14 13 2025
Pipeline Integrity Management – Transmission/Distribution14 — (b)
Other49 49 (e)(b)
Total regulatory assets579 571 
Less: Current portion
158 161 
Total noncurrent regulatory assets$421 $410 
Regulatory Liabilities(a)
COR regulatory liability(c)
$539 555 (d)
Net regulatory liability related to income taxes
405 $433 (b)
Other 80 98 (e)(b)
Total regulatory liabilities1,024 1,086 
Less: Current portion
68 98 
Total noncurrent regulatory liabilities$956 $988 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Certain costs earn/pay a return.
(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
Schedule of Regulatory Liabilities
The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.
December 31,Earns/PaysRecovery/Refund
(in millions)20242023a ReturnPeriod Ends
Regulatory Assets(a)
Accrued pension and OPEB(c)
144 129 (g)
Deferred pipeline integrity costs(c)
101 103 2034
Derivatives – natural gas supply contracts(f)
94 147 
Decoupling
77 75 (e)(b)
Tennessee ARM Deferral
33 20 (e)(b)
AROs – nuclear and other
29 $26 (d)
Customer connect project(c)
24 9 2030
Vacation accrual
14 13 2025
Pipeline Integrity Management – Transmission/Distribution14 — (b)
Other49 49 (e)(b)
Total regulatory assets579 571 
Less: Current portion
158 161 
Total noncurrent regulatory assets$421 $410 
Regulatory Liabilities(a)
COR regulatory liability(c)
$539 555 (d)
Net regulatory liability related to income taxes
405 $433 (b)
Other 80 98 (e)(b)
Total regulatory liabilities1,024 1,086 
Less: Current portion
68 98 
Total noncurrent regulatory liabilities$956 $988 
(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.
(b)    The expected recovery or refund period varies or has not been determined.
(c)    Included in rate base.
(d)    Recovery over the life of the associated assets.
(e)    Certain costs earn/pay a return.
(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.
(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.
v3.25.0.1
Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Legal Reserves
The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Accounts Payable within Other Current Liabilities and Other within Other Noncurrent Liabilities on the Consolidated Balance Sheets.
(in millions)December 31, 2024December 31, 2023
Reserves for Environmental Remediation
Duke Energy$73 $88 
Duke Energy Carolinas24 23 
Progress Energy19 19 
Duke Energy Progress9 9 
Duke Energy Florida10 10 
Duke Energy Ohio21 36 
Duke Energy Indiana2 2 
Piedmont7 7 
Schedule of Purchase Power Obligations
The following table presents executory purchased power contracts with terms exceeding one year, excluding contracts classified as leases.
  Minimum Purchase Amount at December 31, 2024
Contract
(in millions) Expiration20252026202720282029ThereafterTotal
Duke Energy Progress(a)
2028-2042
$22 $18 $19 $18 $3 $31 $111 
Duke Energy Indiana(b)
2026
33 12 — — — — 45 
(a)    Contracts represent between 18% and 100% of net plant output.
(b)    Share of net plant output varies.
Schedule of Natural Gas Supply Contract Commitments
The following table presents future unconditional purchase obligations under natural gas supply and capacity contracts as of December 31, 2024.
(in millions)20252026202720282029ThereafterTotal
Duke Energy Ohio$104 $75 $71 $69 $65 $554 $938 
Piedmont369 366 322 241 233 695 2,226 
v3.25.0.1
Leases (Tables)
 12 Months Ended
Dec. 31, 2024
Leases [Abstract]  
Lease Costs and Cash Flows Information
The following tables present the components of lease expense.
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$275 $66 $173 $82 $91 $12 $23 $2 
Short-term lease expense(a)
7 — 3 1 2 — 1 — 
Variable lease expense(a)
33 2 29 19 10 — 1 1 
Finance lease expense
Amortization of leased assets(b)
113 7 46 38 8 — — — 
Interest on lease liabilities(c)
41 31 44 41 3 — 1 — 
Total finance lease expense154 38 90 79 11 — 1 — 
Total lease expense$469 $106 $295 $181 $114 $12 $26 $3 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Operating lease expense(a)
$236 $41 $157 $80 $77 $11 $17 $2 
Short-term lease expense(a)
5 — 2 1 1 — 1 — 
Variable lease expense(a)
27 2 22 11 11 — — 1 
Finance lease expense
Amortization of leased assets(b)
160 7 57 35 22 — — — 
Interest on lease liabilities(c)
46 31 45 43 2 — 1 — 
Total finance lease expense206 38 102 78 24 — 1 — 
Total lease expense$474 $81 $283 $170 $113 $11 $19 $3 
(a)    Included in Operations, maintenance and other, except for expense related to barges and railcars which is included in Fuel used in electric generation and purchased power on the Consolidated Statements of Operations.
(b)    Included in Depreciation and amortization on the Consolidated Statements of Operations.
(c)    Included in Interest Expense on the Consolidated Statements of Operations.
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$250 $24 $122 $57 $65 $1 $8 $1 
Operating cash flows from finance leases41 31 44 41 3 — 1 — 
Financing cash flows from finance leases113 7 46 38 8 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$322 $50 $43 $3 $40 $— $7 $3 
Finance81 1 55 — 55 — 1 — 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Cash paid for amounts included in the measurement of lease liabilities(a)
Operating cash flows from operating leases$228 $18 $123 $64 $59 $2 $7 $— 
Operating cash flows from finance leases46 31 45 43 2 — 1 — 
Financing cash flows from finance leases160 7 57 35 22 — — — 
Lease assets obtained in exchange for new lease liabilities (non-cash)
Operating
$286 $14 $92 $1 $91 $2 $6 $2 
Finance36 — — — — — — — 
(a)    No amounts were classified as investing cash flows from operating leases.
Operating Lease Maturities
The following table presents operating lease maturities and a reconciliation of the undiscounted cash flows to operating lease liabilities.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
2025$256 $24 $121 $55 $66 $1 $7 $5 
2026241 21 124 59 65 1 7 1 
2027191 14 97 60 37 1 5 1 
2028153 11 82 59 23 1 3 1 
2029120 10 74 52 22 1 3 — 
Thereafter458 53 307 156 151 4 24 — 
Total operating lease payments1,419 133 805 441 364 9 49 8 
Less: Present value discount
(254)(26)(151)(67)(84)(2)(10)— 
Total operating lease liabilities(a)
$1,165 $107 $654 $374 $280 $7 $39 $8 
(a)    Certain operating lease payments include renewal options that are reasonably certain to be exercised.
Maturities of Finance Lease Liabilities
The following table presents finance lease maturities and a reconciliation of the undiscounted cash flows to finance lease liabilities.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
2025$86 $38 $91 $80 $11 $1 
202687 38 92 81 11 1 
202782 38 89 81 8 1 
202879 38 87 81 6 1 
202979 38 88 81 7 1 
Thereafter489 351 444 393 51 21 
Total finance lease payments902 541 891 797 94 26 
Less: Amounts representing interest
(332)(271)(310)(282)(28)(16)
Total finance lease liabilities$570 $270 $581 $515 $66 $10 
Balance Sheet Amounts Recorded for Operating and Finance Leases
The following tables contain additional information related to leases.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,148 $98 $625 $348 $277 $6 $37 $4 
FinanceNet property, plant and equipment645 252 620 512 108 — 6 — 
Total lease assets$1,793 $350 $1,245 $860 $385 $6 $43 $4 
Liabilities
Current
OperatingOther current liabilities$208 $20 $97 $42 $55 $1 $6 $1 
FinanceCurrent maturities of long-term debt46 8 48 41 7 — — — 
Noncurrent
OperatingOperating lease liabilities957 87 557 332 225 6 33 7 
FinanceLong-Term Debt524 262 533 474 59 — 10 — 
Total lease liabilities$1,735 $377 $1,235 $889 $346 $7 $49 $8 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)ClassificationEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Assets
OperatingOperating lease ROU assets, net$1,092 $78 $617 $318 $299 $16 $50 $4 
FinanceNet property, plant and equipment687 268 615 552 63 — 6 — 
Total lease assets$1,779 $346 $1,232 $870 $362 $16 $56 $4 
Liabilities
Current
OperatingOther current liabilities$188 $15 $94 $45 $49 $1 $6 $— 
FinanceCurrent maturities of long-term debt115 8 46 38 8 — — — 
Noncurrent
OperatingOperating lease liabilities917 75 544 293 251 16 46 10 
FinanceLong-Term Debt524 269 525 514 11 — 9 — 
Total lease liabilities$1,744 $367 $1,209 $890 $319 $17 $61 $10 
Supplemental Lease Information
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases89981111114
Finance leases1115111015— 20— 
Weighted average discount rate(a)
Operating leases4.3 %4.3 %4.0 %3.9 %4.2 %4.1 %4.0 %3.9 %
Finance leases8.4 %11.5 %8.9 %9.2 %5.9 %— %11.7 %— %
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Weighted average remaining lease term (years)
Operating leases9101091113134
Finance leases1116111118— 223
Weighted average discount rate(a)
Operating leases3.1 %4.0 %3.8 %3.6 %4.0 %4.2 %3.9 %2.4 %
Finance leases8.5 %11.5 %9.1 %9.2 %7.6 %— %11.9 %5.4 %
(a)    The discount rate is calculated using the rate implicit in a lease if it is readily determinable. Generally, the rate used by the lessor is not provided to Duke Energy and in these cases the incremental borrowing rate is used. Duke Energy will typically use its fully collateralized incremental borrowing rate as of the commencement date to calculate and record the lease. The incremental borrowing rate is influenced by the lessee’s credit rating and lease term and as such may differ for individual leases, embedded leases or portfolios of leased assets.
v3.25.0.1
Debt and Credit Facilities (Tables)
 12 Months Ended
Dec. 31, 2024
Debt Disclosure [Abstract]  
Schedule of Debt
The following tables summarize outstanding debt.
 December 31, 2024
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2025-2082
4.53 %$34,283 $1,605 $2,085 $185 $250 $1,380 $390 $4,030 
Secured debt, maturing 2025-2052
3.75 %3,672 1,463 2,147 1,269 879 — — — 
First mortgage bonds, maturing 2025-2074(a)
4.24 %39,842 13,955 19,223 9,974 9,247 2,722 3,937 — 
Finance leases, maturing 2027-2054
570 270 581 515 66 — 10 — 
Tax-exempt bonds, maturing 2027-2046(b)
3.85 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(c)
4.67 %4,213 — — — — — — — 
Money pool/intercompany borrowings — 300 1,227 761 467 189 160 739 
Fair value hedge carrying value adjustment  (82)— — — — — — — 
Unamortized debt discount and premium, net(d)
 845 (20)(44)(24)(19)(23)(16)(8)
Unamortized debt issuance costs(e)
(401)(83)(146)(65)(76)(18)(25)(19)
Total debt 4.37 %$84,273 $17,490 $25,573 $13,115 $10,814 $4,327 $4,808 $4,742 
Short-term notes payable and commercial paper  (3,584)— — — — — — — 
Short-term money pool/intercompany borrowings — — (1,077)(611)(466)(162)(10)(739)
Current maturities of long-term debt(f)
 (4,349)(521)(1,517)(983)(534)(245)(4)(205)
Total long-term debt(f)
$76,340 $16,969 $22,979 $11,521 $9,814 $3,920 $4,794 $3,798 
(a)Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(c)Includes $625 million classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper program was 13 days.
(d)Duke Energy includes $925 million and $56 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(e)Duke Energy includes $23 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(f)Refer to Note 18 for additional information on amounts from consolidated VIEs.
 December 31, 2023
Weighted
AverageDukeDukeDukeDukeDuke
InterestDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) Rate EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unsecured debt, maturing 2024-2082
4.36 %$30,435 $1,150 $1,800 $— $150 $1,155 $393 $3,695 
Secured debt, maturing 2024-2052
4.23 %4,202 1,441 2,379 1,121 1,258 — — — 
First mortgage bonds, maturing 2025-2073(a)
4.18 %37,443 12,955 18,550 9,475 9,075 2,300 3,638 — 
Finance leases, maturing 2024-2051(b)
639 277 571 552 19 — 9 — 
Tax-exempt bonds, maturing 2027-2046(c)
3.89 %1,331 — 500 500 — 77 352 — 
Notes payable and commercial paper(d)
5.58 %4,925 — — — — — — — 
Money pool/intercompany borrowings— 968 1,193 1,041 152 638 407 538 
Fair value hedge carrying value adjustment32 — — — — — — — 
Unamortized debt discount and premium, net(e)
916 (29)(46)(24)(20)(24)(16)(8)
Unamortized debt issuance costs(f)
(383)(82)(145)(60)(81)(15)(25)(19)
Total debt 4.35 %$79,540 $16,680 $24,802 $12,605 $10,553 $4,131 $4,758 $4,206 
Short-term notes payable and commercial paper  (4,288)— — — — — — — 
Short-term money pool/intercompany borrowings — (668)(1,043)(891)(152)(613)(256)(538)
Current maturities of long-term debt(g)
 (2,800)(19)(661)(72)(589)— (4)(40)
Total long-term debt(g)
$72,452 $15,993 $23,098 $11,642 $9,812 $3,518 $4,498 $3,628 
(a)    Substantially all electric utility property is mortgaged under mortgage bond indentures.
(b)    Duke Energy includes $63 million of finance lease purchase accounting adjustments related to Duke Energy Florida related to PPAs that are not accounted for as finance leases in their respective financial statements because of grandfathering provisions in GAAP.
(c)    Substantially all tax-exempt bonds are secured by first mortgage bonds, letters of credit or the Master Credit Facility.
(d)    Includes $625 million that was classified as Long-Term Debt on the Consolidated Balance Sheets due to the existence of long-term credit facilities that backstop these commercial paper balances, along with Duke Energy’s ability and intent to refinance these balances on a long-term basis. The weighted average days to maturity for Duke Energy's commercial paper programs was 23 days.
(e)    Duke Energy includes $992 million and $69 million in purchase accounting adjustments related to Progress Energy and Piedmont, respectively.
(f)    Duke Energy includes $25 million in purchase accounting adjustments primarily related to the merger with Progress Energy.
(g)     Refer to Note 18 for additional information on amounts from consolidated VIEs.
The following table shows the significant components of Current maturities of Long-Term Debt on the Consolidated Balance Sheets. The Duke Energy Registrants currently anticipate satisfying these obligations with cash on hand and proceeds from additional borrowings.
(in millions)Maturity DateInterest RateDecember 31, 2024
Unsecured Debt
Duke Energy (Parent)April 20253.364 %$420 
Duke Energy (Parent)April 20253.950 %250 
Duke Energy OhioJune 20256.900 %150 
Duke Energy (Parent)September 20250.900 %650 
Piedmont
September 20253.600 %150 
Duke Energy Florida(a)
October 20255.303 %100 
Duke Energy Ohio(b)
October 20253.230 %95 
Duke Energy (Parent)December 20255.000 %500 
Secured Debt
Duke Energy Carolinas(a)
January 2025
5.378 %305 
Duke Energy Carolinas(a)
January 2025
5.423 %195 
Duke Energy Progress(a)
April 2025
5.456 %240 
Duke Energy Progress(a)
April 2025
5.467 %160 
First Mortgage Bonds
Duke Energy Florida(a)(c)
October 2073
4.910 %200 
Duke Energy Florida(a)(c)
April 20744.910 %173 
Duke Energy Progress
August 20253.250 %500 
Other(d)
261 
Current maturities of long-term debt$4,349 
(a)    Debt has a floating interest rate. The $500 million in Duke Energy Carolinas borrowings due January 2025 were repaid in conjunction with the termination of the DERF accounts receivable securitization facility in January 2025.
(b)     Current maturity relates to Duke Energy Kentucky.
(c)    These first mortgage bonds are classified as Current maturities of long-term debt on the Consolidated Balance Sheets based on terms of the indentures, which could require repayment in less than 12 months if exercised by the bondholders.
(d)    Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
The following tables show short-term obligations classified as long-term debt.
 Balance at December 31, 2024 and 2023
DukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasProgressOhioIndiana
Tax-exempt bonds $312 $— $— $27 $285 
Commercial paper(a)
625 300 150 25 150 
Total $937 $300 $150 $52 $435 
(a)    Progress Energy amounts are equal to Duke Energy Progress amounts.
Schedule of Maturities of Long-term Debt
The following table shows the annual maturities of long-term debt for the next five years and thereafter. Amounts presented exclude short-term notes payable, commercial paper and money pool borrowings and debt issuance costs for the Subsidiary Registrants.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy(a)
CarolinasEnergyProgressFloridaOhioIndianaPiedmont
2025$4,349 $521 $1,525 $984 $541 $245 $4 $205 
20264,925 1,078 539 470 69 45 4 40 
20273,082 26 807 89 718 77 27 300 
20283,937 976 1,411 593 819 40 7 — 
20294,971 778 1,618 847 771 530 155 660 
Thereafter58,976 14,214 18,786 9,610 7,525 3,270 4,643 2,825 
Total long-term debt, including current maturities$80,240 $17,593 $24,686 $12,593 $10,443 $4,207 $4,840 $4,030 
(a)    Excludes $1,004 million in purchase accounting adjustments related to the Progress Energy merger and the Piedmont acquisition.
Schedule of Long-term Debt Instruments
The following tables summarize significant debt issuances (in millions).
Year Ended December 31, 2024
DukeDukeDukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Unsecured Debt
January 2024(a)
January 2027
4.850 %$600 $600 $— $— $— $— $— $— 
January 2024(a)
January 2029
4.850 %650 650 — — — — — — 
April 2024(e)
April 2031
5.648 %815 815 — — — — — — 
June 2024(d)
June 2034
5.450 %750 750 — — — — — — 
June 2024(d)
June 2054
5.800 %750 750 — — — — — — 
June 2024(h)
July 2031
5.900 %80 — — — — 80 — — 
June 2024(h)
July 2034
6.000 %95 — — — — 95 — — 
June 2024(h)
July 2039
6.170 %50 — — — — 50 — — 
August 2024(d)
February 2035
5.100 %375 — — — — — — 375 
August 2024(i)
September 2054
6.450 %1,000 1,000 — — — — — — 
Secured Debt
April 2024(f)
March 2044
5.404 %177 — — 177 — — — — 
First Mortgage Bonds
January 2024(b)
January 2034
4.850 %$575 $— $575 $— — $— $— $— 
January 2024(b)
January 2054
5.400 %425 — 425 — — — — — 
March 2024(b)
March 2034
5.250 %300 — — — — — 300 — 
March 2024(c)
March 2034
5.100 %500 — — 500 — — — — 
March 2024(d)
March 2054
5.550 %425 — — — — 425 — — 
April 2024(g)
April 2074
4.910 %173 — — — 173 — — — 
Total issuances$7,740 $4,565 $1,000 $677 $173 $650 $300 $375 
(a)Proceeds were used to repay the remaining $1 billion outstanding on Duke Energy (Parent)'s variable rate Term Loan Facility due March 2024, pay down a portion of short-term debt and for general corporate purposes. Duke Energy (Parent)'s Term Loan Facility was terminated in March 2024 in conjunction with the payoff of remaining borrowings.
(b)Proceeds were used to pay down a portion of short-term debt and for general company purposes.
(c)Proceeds were used to fund eligible green energy projects, pay down a portion of short-term debt and for general company purposes.
(d)Proceeds were used to pay down a portion of short-term debt and for general corporate purposes.
(e)In April 2024, Duke Energy issued 750 million euros aggregate principal amount of 3.75% senior notes due April 2031. Duke Energy's obligations under its euro-denominated fixed-rate notes were effectively converted to fixed-rate U.S. dollars at issuance through cross-currency swaps, mitigating foreign currency exchange risk associated with the interest and principal payments. The $815 million equivalent in U.S. dollars were used to repay a portion of a $1 billion debt maturity due April 2024, pay down short-term debt and for general corporate purposes. See Note 15 for additional information.
(f)Proceeds were used to finance the South Carolina portion of restoration expenditures related to the following storms: Pax, Ulysses, Matthew, Florence, Michael, Dorian, Izzy and Jasper. See Notes 4 and 18 for more information.
(g)Debt has a floating interest rate. Proceeds were used to pay down a portion of the DEFR accounts receivable securitization facility due in April 2024, and for general company purposes. See Note 18 for more information.
(h)Debt issued by Duke Energy Kentucky with proceeds used to pay down a portion of short-term debt and for general corporate purposes.
(i)Duke Energy issued $1 billion of fixed-to-fixed reset rate junior subordinated debentures (the debentures) with proceeds used to redeem Duke Energy’s outstanding Series B Preferred Stock and for general corporate purposes. The debentures will bear interest at 6.45% until September 1, 2034, and thereafter the interest rate will reset every five years to the five-year U.S. Treasury rate plus a spread of 2.588%. The debentures have early redemption options and are callable on or after June 2034 for 100% of the principal plus accrued interest. See Note 20 for additional information.
Year Ended December 31, 2023
DukeDukeDukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Unsecured Debt
April 2023(a)
April 20264.125 %$1,725 $1,725 $— $— $— $— $— $— 
June 2023(b)
June 20335.400 %350 — — — — — — 350 
September 2023(c)
September 2033
5.750 %600 600 — — — — — — 
September 2023(c)
September 2053
6.100 %750 750 — — — — — — 
First Mortgage Bonds
January 2023(d)
January 20334.950 %900 — 900 — — — — — 
January 2023(d)
January 20535.350 %900 — 900 — — — — — 
March 2023(e)
March 20335.250 %500 — — 500 — — — — 
March 2023(e)
March 20535.350 %500 — — 500 — — — — 
March 2023(f)
April 20335.250 %375 — — — — 375 — — 
March 2023(f)
April 20535.650 %375 — — — — 375 — — 
March 2023(g)
April 20535.400 %500 — — — — — 500 — 
June 2023(h)
January 20334.950 %350 — 350 — — — — — 
June 2023(h)
January 20545.400 %500 — 500 — — — — — 
September 2023(h)
October 2073
4.910 %200 — — — 200 — — — 
November 2023(i)
November 2033
5.875 %600 — — — 600 — — — 
November 2023(i)
November 2053
6.200 %700 — — — 700 — — — 
Total issuances$9,825 $3,075 $2,650 $1,000 $1,500 $750 $500 $350 
(a)See "Duke Energy (Parent) Convertible Senior Notes" below for additional information.
(b)Debt issued to repay $45 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(c)Debt issued to repay $400 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(d)Debt issued to repay $1 billion of maturities due March 2023, to pay down a portion of short-term debt and for general company purposes.
(e)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of short-term debt and for general company purposes.
(f)Debt issued to repay $300 million of maturities due September 2023, to pay down a portion of the $100 million Duke Energy Ohio Term Loan due October 2023, to repay a portion of short-term debt and for general corporate purposes.
(g)Debt issued to repay the $300 million Duke Energy Indiana Term Loan due October 2023, to pay down a portion of short-term debt and for general company purposes.
(h)Debt has a floating interest rate and was issued to pay down a portion of short-term debt and for general company purposes.
(i)Debt issued to repay the $800 million Duke Energy Florida Term Loan due April 2024, to pay down a portion of short-term debt and for general company purposes.
Schedule of Line of Credit Facilities
The table below includes borrowing sublimits and available capacity under these credit facilities.
 December 31, 2024
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions) Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,275 $1,400 $1,500 $875 $1,050 $950 $950 
Reduction to backstop issuances
Commercial paper(b)
(3,143)(608)(300)(736)(448)(182)(160)(709)
Outstanding letters of credit (18)(6)(4)(1)(7)— — — 
Tax-exempt bonds (81)— — — — — (81)— 
Available capacity $5,758 $1,661 $1,096 $763 $420 $868 $709 $241 
(a)    Represents the sublimit of each borrower.
(b)    Duke Energy issued $625 million of commercial paper and loaned the proceeds through the money pool to Duke Energy Carolinas, Duke Energy Progress, Duke Energy Ohio and Duke Energy Indiana. The balances are classified as Long-Term Debt Payable to Affiliated Companies in the Consolidated Balance Sheets.
v3.25.0.1
Joint Ownership of Generating and Transmission Facilities (Tables)
 12 Months Ended
Dec. 31, 2024
Joint Ownership Of Generating And Transmission Facilities [Abstract]  
Schedule Joint Ownership of Generating and Transmission Facilities
The following table presents the Duke Energy Registrants' interest of jointly owned plant or facilities and amounts included on the Consolidated Balance Sheets. All facilities are operated by the Duke Energy Registrants and are included in the EU&I segment.
 December 31, 2024
Construction
OwnershipProperty, PlantAccumulatedWork in
(in millions except for ownership interest)Interestand EquipmentDepreciationProgress
Duke Energy Carolinas     
Catawba (units 1 and 2)(a)
19.25 %$1,047 $594 $30 
W.S. Lee CC(b)
87.27 %654 118 6 
Duke Energy Indiana     
Gibson (unit 5)(c)
50.05 %400 266 5 
Vermillion(d)
62.50 %184 124 — 
Transmission and local facilities(c)
Various7,771 1,654 222 
(a)    Jointly owned with North Carolina Municipal Power Agency Number 1, NCEMC and PMPA.
(b)    Jointly owned with NCEMC.
(c)    Jointly owned with WVPA and IMPA.
(d)    Jointly owned with WVPA.
v3.25.0.1
Asset Retirement Obligations (Tables)
 12 Months Ended
Dec. 31, 2024
Asset Retirement Obligation Disclosure [Abstract]  
Schedule of Asset Retirement Obligations by Category
The following table presents the AROs recorded on the Consolidated Balance Sheets.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities
$4,493 $2,050 $2,425 $2,318 $107 $— $— $— 
Closure of ash impoundments5,173 1,867 1,993 1,975 18 72 1,241 — 
Other326 73 130 41 89 67 27 29 
Total asset retirement obligation$9,992 $3,990 $4,548 $4,334 $214 $139 $1,268 $29 
Less: Current portion650 247 231 230 1 8 164 — 
Total noncurrent asset retirement obligation$9,342 $3,743 $4,317 $4,104 $213 $131 $1,104 $29 
Public Utilities General Disclosures
The following table summarizes information about the most recent site-specific nuclear decommissioning cost studies. Decommissioning costs are stated in 2023 or 2024 dollars, depending on the year of the cost study, and include costs to decommission plant components not subject to radioactive contamination.
Decommissioning
(in millions)
Costs
Year of Cost Study
Duke Energy$9,031 
2023 or 2024
Duke Energy Carolinas(a)
4,439 2023
Progress Energy
4,592 2024
Duke Energy Progress(b)
4,477 2024
Duke Energy Florida(c)
115 N/A
(a)    Decommissioning costs for Duke Energy Carolinas reflect its ownership interest in jointly owned reactors. Other joint owners are responsible for decommissioning costs related to their interest in the reactors. Duke Energy Carolinas' site-specific nuclear decommissioning cost study and a funding study were filed with the NCUC and PSCSC in 2024.
(b)    Duke Energy Progress' site-specific nuclear decommissioning cost study was filed with the NCUC and PSCSC in February 2025. An updated funding study will be completed and filed with the NCUC and PSCSC in 2025.
(c)    During 2019, Duke Energy Florida reached an agreement to transfer decommissioning work for Crystal River Unit 3 to a third party and decommissioning costs are based on the agreement with this third party rather than a cost study. Regulatory approval was received from the NRC and the FPSC in April 2020 and August 2020, respectively. Duke Energy Florida provides the FPSC periodic reports on the status and progress of decommissioning activities.
The following table presents the fair value of NDTF assets legally restricted for purposes of settling AROs associated with nuclear decommissioning. Duke Energy Florida entered into an agreement with a third party to decommission Crystal River Unit 3 and was granted an exemption from the NRC, which allows for use of the NDTF for all aspects of nuclear decommissioning. The entire balance of Duke Energy Florida's NDTF may be applied toward license termination, spent fuel and site restoration costs incurred to decommission Crystal River Unit 3 and is excluded from the table below. See Note 17 for additional information related to the fair value of the Duke Energy Registrants' NDTFs.
December 31,
(in millions)20242023
Duke Energy$10,044 $8,851 
Duke Energy Carolinas5,687 5,002 
Progress Energy
4,357 3,849 
Duke Energy Progress4,357 3,849 
The following table includes the current expiration of nuclear operating licenses.
UnitYear of Expiration
Duke Energy Carolinas
Catawba Units 1 and 22043
McGuire Unit 12041
McGuire Unit 22043
Oconee Units 1 and 22033
Oconee Unit 32034
Duke Energy Progress
Brunswick Unit 12036
Brunswick Unit 22034
Harris2046
Robinson2030
Rollforward Schedule of Asset Retirement Obligations
The following tables present changes in the liability associated with AROs.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2022$12,728 $5,382 $6,181 $5,823 $358 $154 $951 $26 
Accretion expense(a)
523 254 237 225 12 7 33 1 
Liabilities settled(b)
(758)(256)(379)(292)(87)(15)(108)— 
Liabilities incurred in the current year29 3 21 6 15 1 4 — 
Revisions in estimates of cash flows(c)
(3,366)(1,370)(1,915)(1,892)(23)(11)(71)(1)
Balance at December 31, 20239,156 4,013 4,145 3,870 275 136 809 26 
Accretion expense(a)
434 183 199 190 9 7 49 2 
Liabilities settled(b)
(634)(212)(321)(232)(89)(7)(94)— 
Liabilities incurred in the current year20 8 12 — 12 — — — 
Revisions in estimates of cash flows(c)
1,016 (2)513 506 7 3 504 1 
Balance at December 31, 2024$9,992 $3,990 $4,548 $4,334 $214 $139 $1,268 $29 
    
(a)    Substantially all accretion expense has been deferred in accordance with regulatory accounting treatment.
(b)    Amounts primarily relate to ash impoundment closures and nuclear decommissioning.
(c)    The amounts recorded represent the discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The decreases in 2023 primarily relate to lower discounted cash flows for decommissioning the nuclear power facilities due to changes in estimates and economic assumptions including discount rates, cost escalation rates and cash flow timing, as well as lower unit costs associated with ash basin closure, routine maintenance and beneficiation activities, as well as reduction in monitoring wells needed. The increases in 2024 primarily relate to additional scope requirements to regulate the disposal of CCR in landfills and surface impoundments as a result of the 2024 CCR Rule, including an increase in groundwater monitoring wells.
v3.25.0.1
Property, Plant and Equipment (Tables)
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment The composite weighted average depreciation rates, excluding nuclear fuel, are included in the table that follows.
 Years Ended December 31,
 202420232022
Duke Energy 3.0 %2.9 %3.0 %
Duke Energy Carolinas 3.1 %2.7 %2.7 %
Progress Energy 3.3 %3.3 %3.2 %
Duke Energy Progress 3.2 %3.1 %3.0 %
Duke Energy Florida 3.5 %3.5 %3.5 %
Duke Energy Ohio 2.9 %2.8 %2.9 %
Duke Energy Indiana 3.6 %3.6 %3.6 %
Piedmont2.2 %2.1 %2.1 %
The following tables summarize the property, plant and equipment for Duke Energy and its subsidiary registrants.
December 31, 2024
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,569 $617 $1,134 $535 $599 $258 $144 $391 
Plant – Regulated
Electric generation, distribution and transmission 37137,836 49,547 62,351 35,633 26,718 7,634 18,304 — 
Natural gas transmission and distribution 5815,333 — — — — 4,255 — 11,078 
Other buildings and improvements 412,982 1,256 698 391 307 418 372 238 
Nuclear fuel 3,518 2,003 1,515 1,515 — — — — 
Equipment 133,863 997 1,252 753 499 542 490 170 
Construction in process 7,850 2,735 3,657 1,884 1,773 385 406 405 
Other106,855 1,227 1,953 1,349 594 426 254 498 
Total property, plant and equipment(a)
180,806 58,382 72,560 42,060 30,490 13,918 19,970 12,780 
Total accumulated depreciation – regulated(b)(c)
(55,535)(19,090)(23,586)(15,930)(7,650)(3,674)(6,848)(2,432)
Total accumulated depreciation – other(d)
(1,968)— — — — — — — 
Total net property, plant and equipment $123,303 $39,292 $48,974 $26,130 $22,840 $10,244 $13,122 $10,348 
(a)    Includes finance leases of $670 million, $336 million, $620 million, $512 million, $108 million and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy and Duke Energy Progress amounts are net of $159 million of accumulated amortization of finance leases.
(b)    Includes $1,824 million, $1,010 million, $814 million and $814 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $84 million and $4 million at Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $25 million at Duke Energy.
December 31, 2023
Average
RemainingDukeDukeDukeDukeDuke
Useful LifeDukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)(Years)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Land $2,345 $581 $1,012 $502 $510 $242 $133 $352 
Plant – Regulated
Electric generation, distribution and transmission 40129,985 48,107 57,436 33,171 24,265 7,243 17,199 — 
Natural gas transmission and distribution 5714,130 — — — — 3,993 — 10,137 
Other buildings and improvements 422,887 1,213 677 377 300 421 355 221 
Nuclear fuel 3,303 1,866 1,437 1,437 — — — — 
Equipment 143,409 870 1,104 654 450 474 442 143 
Construction in process 8,372 2,578 3,941 1,661 2,280 427 427 690 
Other126,922 1,455 2,037 1,481 548 410 344 365 
Total property, plant and equipment(a)
171,353 56,670 67,644 39,283 28,353 13,210 18,900 11,908 
Total accumulated depreciation – regulated(b)(c)
(54,323)(19,896)(22,300)(15,227)(7,067)(3,451)(6,501)(2,259)
Total accumulated depreciation – other(d)
(1,715)— — — — — — — 
Total net property, plant and equipment $115,315 $36,774 $45,344 $24,056 $21,286 $9,759 $12,399 $9,649 
(a)    Includes finance leases of $697 million, $335 million, $615 million, $552 million, $63 million, and $10 million at Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively, primarily within Plant – Regulated. The Progress Energy, Duke Energy Progress and Duke Energy Florida amounts are net of $292 million, $119 million and $173 million, respectively, of accumulated amortization of finance leases.
(b)    Includes $1,793 million, $991 million, $802 million and $802 million of accumulated amortization of nuclear fuel at Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(c)    Includes accumulated amortization of finance leases of $3 million, $67 million, and $4 million at Duke Energy, Duke Energy Carolinas and Duke Energy Indiana, respectively.
(d)    Includes accumulated amortization of finance leases of $7 million at Duke Energy.
Schedule of Capitalized Interest
The following table presents capitalized interest, which includes the debt component of AFUDC.
Years Ended December 31,
(in millions)202420232022
Duke Energy$201 $201 $118 
Duke Energy Carolinas61 62 50 
Progress Energy57 41 26 
Duke Energy Progress52 35 19 
Duke Energy Florida5 6 7 
Duke Energy Ohio14 16 14 
Duke Energy Indiana
13 21 3 
Piedmont8 8 4 
v3.25.0.1
Goodwill and Intangible Assets (Tables)
 12 Months Ended
Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]  
Schedule of Intangible Assets
The following tables show the carrying amount and accumulated amortization of intangible assets included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets of the Duke Energy Registrants at December 31, 2024, and 2023.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 241 103 136 136 — 2 — — 
Other 47 — 5 1 4 — — 22 
Total gross carrying amounts 296 103 146 139 7 2 2 22 
Accumulated amortization – other (19)— (3)— (3)— — (9)
Total intangible assets, net $277 $103 $143 $139 $4 $2 $2 $13 
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Emission allowances $8 $— $5 $2 $3 $— $2 $— 
Renewable energy certificates 232 97 133 133 — 2 — — 
Other 56 — 5 1 3 — — 22 
Total gross carrying amounts 296 97 143 136 6 2 2 22 
Accumulated amortization – other (14)— (3)— (3)— — (6)
Total intangible assets, net $282 $97 $140 $136 $3 $2 $2 $16 
v3.25.0.1
Investments in Unconsolidated Affiliates (Tables)
 12 Months Ended
Dec. 31, 2024
Equity Method Investments and Joint Ventures [Abstract]  
Investments in Equity Method Unconsolidated Affiliates
The following table presents Duke Energy’s investments in unconsolidated affiliates accounted for under the equity method, as well as the respective equity in earnings (losses), by segment, for periods presented in this filing.
 Years Ended December 31,
 202420232022
Equity in
Equity in
Equity in
(in millions)Investments
(losses) earnings
Investments
earnings
earnings
Electric Utilities and Infrastructure$28 $(11)$97 $7 $7 
Gas Utilities and Infrastructure186 (48)259 40 21 
Other139 50 136 66 85 
Total$353 $(9)$492 $113 $113 
v3.25.0.1
Related Party Transactions (Tables)
 12 Months Ended
Dec. 31, 2024
Related Party Transactions [Abstract]  
Related Party Transactions, Other Revenue and Expense Transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
 Years Ended December 31,
(in millions) 202420232022
Duke Energy Carolinas   
Corporate governance and shared service expenses(a)
$812 $823 $838 
Indemnification coverages(b)
44 34 28 
JDA revenue(c)
35 34 109 
JDA expense(c)
187 177 600 
Intercompany natural gas purchases(d)
12 11 12 
Progress Energy 
Corporate governance and shared service expenses(a)
$709 $736 $818 
Indemnification coverages(b)
57 47 43 
JDA revenue(c)
187 177 600 
JDA expense(c)
35 34 109 
Intercompany natural gas purchases(d)
75 75 76 
Duke Energy Progress 
Corporate governance and shared service expenses(a)
$426 $434 $469 
Indemnification coverages(b)
23 20 20 
JDA revenue(c)
187 177 600 
JDA expense(c)
35 34 109 
Intercompany natural gas purchases(d)
75 75 76 
Duke Energy Florida 
Corporate governance and shared service expenses(a)
$283 $302 $349 
Indemnification coverages(b)
34 27 23 
Duke Energy Ohio 
Corporate governance and shared service expenses(a)
$304 $294 $334 
Indemnification coverages(b)
6 5 5 
Duke Energy Indiana 
Corporate governance and shared service expenses(a)
$355 $365 $447 
Indemnification coverages(b)
10 8 8 
Piedmont
Corporate governance and shared service expenses(a)
$166 $149 $155 
Indemnification coverages(b)
4 4 3 
Intercompany natural gas sales(d)
87 86 88 
Natural gas storage and transportation costs(e)
23 24 23 
(a)The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(b)The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.
(c)Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income.
(d)Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation.
(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income.
The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.
DukeDukeDukeDukeDuke
EnergyProgressEnergyEnergyEnergyEnergy
(in millions)CarolinasEnergyProgressFloridaOhioIndianaPiedmont
December 31, 2024
Intercompany income tax receivable$— $— $— $154 $— $— $— 
Intercompany income tax payable419 169 315 — 43 110 43 
December 31, 2023
Intercompany income tax receivable$— $— $— $— $91 $53 $— 
Intercompany income tax payable81 92 94 114 — — 57 
v3.25.0.1
Derivatives and Hedging (Tables)
 12 Months Ended
Dec. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Notional Amounts of Outstanding Derivative Positions
The following tables show notional amounts of outstanding derivatives related to interest rate risk.
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,825 $— $— $— $— $— $— 
Undesignated contracts3,202 1,150 1,775 1,125 650 250 27 
Total notional amount$6,027 $1,150 $1,775 $1,125 $650 $250 $27 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,300 $— $— $— $— $— $— 
Undesignated contracts2,727 1,050 1,250 925 325 400 27 
Total notional amount$5,027 $1,050 $1,250 $925 $325 $400 $27 
The tables below include volumes of outstanding commodity derivatives. Amounts disclosed represent the absolute value of notional volumes of commodity contracts excluding NPNS. The Duke Energy Registrants have netted contractual amounts where offsetting purchase and sale contracts exist with identical delivery locations and times of delivery. Where all commodity positions are perfectly offset, no quantities are shown.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)12,229 — — — 1,287 10,942 — 
Natural gas (millions of Dth)779 276 246 246 — 32 225 
December 31, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)13,608 — — — 1,616 11,992 — 
Natural gas (millions of Dth)846 279 274 274 — 30 263 
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk.
Fair Value Gain (Loss)(a)
Receive
Hedge
(in millions)
Pay NotionalNotionalReceive
Maturity
Years Ended December 31,
(in millions)Pay Rate(in millions)Rate
Date
202420232022
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$(41)$17 $(3)
537 5.31 %500 euros3.85 %June 2034(34)15 (2)
815 5.65 %750 
euros
3.75 %April 2031(38)— — 
Total notional amount$1,997 1,850 euros$(113)$32 $(5)
(a)    Amounts are recorded in Other Income and expenses, net on the Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Consolidated Statements of Comprehensive Income for amounts excluded from the assessment of effectiveness for which the difference between changes in fair value and periodic amortization is recorded.
Location and Fair Value of Derivatives Recognized in the Consolidated Balance Sheets
The following tables show the fair value and balance sheet location of derivative instruments. Although derivatives subject to master netting arrangements are netted on the Consolidated Balance Sheets, the fair values presented below are shown gross and cash collateral on the derivatives has not been netted against the fair values shown.
Derivative AssetsDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$49 $20 $17 $17 $— $1 $8 $1 
Noncurrent60 29 32 32 — — — — 
Total Derivative Assets – Commodity Contracts$109 $49 $49 $49 $— $1 $8 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$108 $— $— $— $— $— $— $— 
Noncurrent52 — — — — — — — 
Not Designated as Hedging Instruments
Current$110 $19 $55 $44 $11 $— $36 $— 
Noncurrent50 26 23 16 7 — — — 
Total Derivative Assets – Interest Rate Contracts$320 $45 $78 $60 $18 $— $36 $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent5 — — — — — — — 
Total Derivative Assets – Foreign Currency Contracts
$5 $— $— $— $— $— $— $— 
Total Derivative Assets$434 $94 $127 $109 $18 $1 $44 $1 
Derivative LiabilitiesDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$108 $57 $32 $32 $— $— $3 $16 
Noncurrent134 31 24 24 — — — 78 
Total Derivative Liabilities – Commodity Contracts$242 $88 $56 $56 $— $— $3 $94 
Interest Rate Contracts
Not Designated as Hedging Instruments
Current2 — 2 1 1 — — — 
Noncurrent1 — — — — 1 — — 
Total Derivative Liabilities – Interest Rate Contracts$3 $— $2 $1 $1 $1 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$35 $— $— $— $— $— $— $— 
Noncurrent39 — — — — — — — 
Total Derivative Liabilities – Foreign Currency Contracts$74 $— $— $— $— $— $— $— 
Total Derivative Liabilities$319 $88 $58 $57 $1 $1 $3 $94 
Derivative AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$25 $1 $3 $1 $2 $1 $18 $1 
Noncurrent57 26 31 31 — — — — 
Total Derivative Assets – Commodity Contracts$82 $27 $34 $32 $2 $1 $18 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$31 $— $— $— $— $— $— $— 
Noncurrent17 — — — — — — — 
Not Designated as Hedging Instruments
Current$5 $5 $— $— $— $— $— $— 
Noncurrent10 3 — — — — 7 — 
Total Derivative Assets – Interest Rate Contracts$63 $8 $— $— $— $— $7 $— 
Foreign Currency Contracts
 Designated as Hedging Instruments
Noncurrent
$44 $— $— $— $— $— $— $— 
Total Derivative Assets – Foreign Currency Contracts
$44 $— $— $— $— $— $— $— 
Total Derivative Assets$189 $35 $34 $32 $2 $1 $25 $1 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Not Designated as Hedging Instruments
Current$354 $177 $138 $138 $— $— $18 $20 
Noncurrent255 67 61 61 — — — 127 
Total Derivative Liabilities – Commodity Contracts$609 $244 $199 $199 $— $— $18 $147 
Interest Rate Contracts
Designated as Hedging Instruments
Current$25 $— $— $— $— $— $— $— 
Noncurrent26 — — — — — — — 
Not Designated as Hedging Instruments
Current13 2 11 11 — — — — 
Noncurrent39 14 24 9 15 1 — — 
Total Derivative Liabilities – Interest Rate Contracts$103 $16 $35 $20 $15 $1 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities – Foreign Currency Contracts$17 $— $— $— $— $— $— $— 
Total Derivative Liabilities$729 $260 $234 $219 $15 $1 $18 $147 
Offsetting Assets
The following tables present the line items on the Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The amounts shown are calculated by counterparty. Accounts receivable or accounts payable may also be available to offset exposures in the event of bankruptcy. These amounts are not included in the tables below.
Derivative AssetsDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$267 $39 $72 $61 $11 $1 $44 $1 
Offset(29)(15)(14)(14)— — — — 
Net amounts presented in Current Assets: Other$238 $24 $58 $47 $11 $1 $44 $1 
Noncurrent
Gross amounts recognized$167 $55 $55 $48 $7 $— $— $— 
Offset(37)(19)(17)(17)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$130 $36 $38 $31 $7 $— $— $— 
Derivative AssetsDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$61 $6 $3 $1 $2 $1 $18 $1 
Offset(2)(1)(1)(1)— — — — 
Net amounts presented in Current Assets: Other$59 $5 $2 $— $2 $1 $18 $1 
Noncurrent
Gross amounts recognized$128 $29 $31 $31 $— $— $7 $— 
Offset(37)(14)(22)(22)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$91 $15 $9 $9 $— $— $7 $— 
Offsetting Liabilities
Derivative LiabilitiesDecember 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$145 $57 $34 $33 $1 $— $3 $16 
Offset(29)(15)(14)(14)— — — — 
Cash collateral posted(3)(2)— — — — (1)— 
Net amounts presented in Current Liabilities: Other$113 $40 $20 $19 $1 $— $2 $16 
Noncurrent
Gross amounts recognized$174 $31 $24 $24 $— $1 $— $78 
Offset(37)(19)(17)(17)— — — — 
Cash collateral posted(4)(4)— — — — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$133 $8 $7 $7 $— $1 $— $78 
Derivative LiabilitiesDecember 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$409 $179 $149 $149 $— $— $18 $20 
Offset(2)(1)(1)(1)— — — — 
Cash collateral posted(96)(48)(30)(30)— — (18)— 
Net amounts presented in Current Liabilities: Other$311 $130 $118 $118 $— $— $— $20 
Noncurrent
Gross amounts recognized$320 $81 $85 $70 $15 $1 $— $127 
Offset(37)(14)(22)(22)— — — — 
Cash collateral posted(66)(38)(28)(28)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$217 $29 $35 $20 $15 $1 $— $127 
Derivative Contracts with Contingent Credit Features The following tables show information with respect to derivative contracts that are in a net liability position and contain objective credit risk-related payment provisions.
December 31, 2024
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$101 $52 $49 $49 
Fair value of collateral already posted6 6 — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered95 46 49 49 
December 31, 2023
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$342 $175 $166 $166 
Fair value of collateral already posted144 86 58 58 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered198 89 108 108 
v3.25.0.1
Investments in Debt and Equity Securities (Tables)
 12 Months Ended
Dec. 31, 2024
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $139 $— $— $133 
Equity securities 5,753 61 8,233 4,942 22 7,278 
Corporate debt securities 6 33 673 12 43 632 
Municipal bonds 2 14 342 6 16 347 
U.S. government bonds 3 84 1,806 24 65 1,575 
Other debt securities 1 8 239 1 13 178 
Total NDTF Investments$5,765 $200 $11,432 $4,985 $159 $10,143 
Other Investments       
Cash and cash equivalents $— $— $47 $— $— $31 
Equity securities 39 4 160 33 — 158 
Corporate debt securities — 5 79 — 6 82 
Municipal bonds — 1 83 1 2 77 
U.S. government bonds — 5 59 — 2 65 
Other debt securities — 4 45 — 2 47 
Total Other Investments$39 $19 $473 $34 $12 $460 
Total Investments $5,804 $219 $11,905 $5,019 $171 $10,603 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$600 $129 $201 
Realized losses85 146 316 
AFS:
Realized gains28 44 28 
Realized losses67 140 151 
Investments Classified by Contractual Maturity Date
The table below summarizes the maturity date for debt securities.
December 31, 2024
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$89 $9 $62 $12 $50 $4 
Due after one through five years791 303 408 310 98 20 
Due after five through 10 years721 441 234 219 15 12 
Due after 10 years1,725 898 729 680 49 20 
Total$3,326 $1,651 $1,433 $1,221 $212 $56 
Duke Energy Carolinas  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2024 December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $62 $— $— $51 
Equity securities 3,386 33 4,751 2,886 14 4,196 
Corporate debt securities 2 27 401 4 35 390 
Municipal bonds — 4 36 — 4 50 
U.S. government bonds — 50 991 13 33 826 
Other debt securities 1 8 223 1 13 172 
Total NDTF Investments$3,389 $122 $6,464 $2,904 $99 $5,685 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$298 $82 $124 
Realized losses40 79 177 
AFS:
Realized gains14 22 22 
Realized losses40 65 86 
Progress Energy  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $77 $— $— $82 
Equity securities 2,367 28 3,482 2,056 8 3,082 
Corporate debt securities 4 6 272 8 8 242 
Municipal bonds 2 10 306 6 12 297 
U.S. government bonds 3 34 815 11 32 749 
Other debt securities — — 16 — — 6 
Total NDTF Investments$2,376 $78 $4,968 $2,081 $60 $4,458 
Other Investments       
Cash and cash equivalents $— $— $23 $— $— $18 
Municipal bonds — — 24 — 1 23 
Total Other Investments$— $— $47 $— $1 $41 
Total Investments $2,376 $78 $5,015 $2,081 $61 $4,499 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$302 $47 $77 
Realized losses45 67 139 
AFS:
Realized gains14 22 6 
Realized losses27 75 48 
Duke Energy Progress  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF       
Cash and cash equivalents $— $— $54 $— $— $55 
Equity securities 2,256 28 3,362 1,956 8 2,970 
Corporate debt securities 4 6 256 7 8 229 
Municipal bonds 2 10 306 6 12 297 
U.S. government bonds 3 26 645 10 18 518 
Other debt securities — — 14 — — 6 
Total NDTF Investments$2,265 $70 $4,637 $1,979 $46 $4,075 
Other Investments    
Cash and cash equivalents $— $— $16 $— $— $14 
Total Other Investments$— $— $16 $— $— $14 
Total Investments $2,265 $70 $4,653 $1,979 $46 $4,089 
Schedule of Realized Gain (Loss)
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the years ended December 31, 2024, 2023 and 2022, were as follows.
Years Ended December 31,
(in millions)202420232022
FV-NI:
Realized gains$288 $44 $76 
Realized losses44 66 136 
AFS:
Realized gains13 20 6 
Realized losses26 70 44 
Duke Energy Florida  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
 December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
NDTF        
Cash and cash equivalents $— $— $23 $— $— $27 
Equity securities 111 — 120 100 — 112 
Corporate debt securities — — 16 1 — 13 
U.S. government bonds — 8 170 1 14 231 
Other debt securities — — 2 — — — 
Total NDTF Investments(a)
$111 $8 $331 $102 $14 $383 
Other Investments    
Cash and cash equivalents $— $— $3 $— $— $3 
Municipal bonds — — 24 — 1 23 
Total Other Investments$— $— $27 $— $1 $26 
Total Investments $111 $8 $358 $102 $15 $409 
(a)    During the years ended December 31, 2024, and 2023, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Duke Energy Indiana  
Investment [Line Items]  
Summary of Investments in Debt and Equity Securities
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
 December 31, 2024December 31, 2023
GrossGrossGrossGross
UnrealizedUnrealizedUnrealizedUnrealized
HoldingHoldingEstimatedHoldingHoldingEstimated
(in millions) GainsLossesFair ValueGainsLossesFair Value
Investments       
Cash and cash equivalents$— $— $1 $— $— $1 
Equity securities — 4 89 4 — 98 
Corporate debt securities — — 6 — — 8 
Municipal bonds — 1 43 1 1 46 
U.S. government bonds — — 7 — — 10 
Total Investments $— $5 $146 $5 $1 $163 
v3.25.0.1
Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15. See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants.
 December 31, 2024
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$139 $139 $— $— $— 
NDTF equity securities8,233 8,203 2 — 28 
NDTF debt securities3,060 1,022 2,038 — — 
Other equity securities160 160 — — — 
Other debt securities266 52 214 — — 
Other cash and cash equivalents47 47 — — — 
Derivative assets434 2 423 9 — 
Total assets12,339 9,625 2,677 9 28 
Derivative liabilities(319)(3)(316)— — 
Net assets
$12,020 $9,622 $2,361 $9 $28 
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$133 $133 $— $— $— 
NDTF equity securities7,278 7,241 — — 37 
NDTF debt securities2,732 829 1,903 — — 
Other equity securities158 158 — — — 
Other debt securities271 55 216 — — 
Other cash and cash equivalents31 31 — — — 
Derivative assets189 37 137 15 — 
Total assets10,792 8,484 2,256 15 37 
Derivative liabilities(729)(60)(669)— — 
Net assets
$10,063 $8,424 $1,587 $15 $37 
Reconciliation of Assets and Liabilities Measured at Fair Value an a Recurring Basis Using Unobservable Inputs
The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
 Years Ended December 31,
(in millions) 20242023
Balance at beginning of period$15 $34 
Purchases, sales, issuances and settlements:
Purchases29 47 
Settlements(46)(72)
Total gains included on the Consolidated Balance Sheet
11 6 
Balance at end of period$9 $15 
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
December 31, 2024
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$1 RTO auction pricingFTR price – per MWh$— –$1.13 $0.48 
Duke Energy Indiana
FTRs8 RTO auction pricingFTR price – per MWh(0.63)–9.24 0.94 
Duke Energy
Total Level 3 derivatives$9 
December 31, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.36 –$2.11 $0.71 
Duke Energy Indiana
FTRs13 RTO auction pricingFTR price – per MWh(1.05)–9.64 1.26 
Duke Energy
Total Level 3 derivatives$15 
Schedule of Long-Term Debt Fair Value
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.
 December 31, 2024December 31, 2023
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$80,689 $73,440 $75,252 $69,790 
Duke Energy Carolinas17,490 15,975 16,012 15,077 
Progress Energy24,496 22,548 23,759 22,553 
Duke Energy Progress12,504 11,009 11,714 10,595 
Duke Energy Florida10,348 9,752 10,401 10,123 
Duke Energy Ohio4,165 3,871 3,518 3,310 
Duke Energy Indiana4,798 4,329 4,502 4,230 
Piedmont4,003 3,584 3,668 3,336 
(a)    Book value of long-term debt includes $1.0 billion as of December 31, 2024, and December 31, 2023, of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
Duke Energy Carolinas  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$62 $62 $— $— 
NDTF equity securities4,751 4,721 2 28 
NDTF debt securities1,651 520 1,131 — 
Derivative assets94 — 94 — 
Total assets6,558 5,303 1,227 28 
Derivative liabilities(88)— (88)— 
Net assets$6,470 $5,303 $1,139 $28 
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$51 $51 $— $— 
NDTF equity securities4,196 4,159 — 37 
NDTF debt securities1,438 375 1,063 — 
Derivative assets35 — 35 — 
Total assets5,720 4,585 1,098 37 
Derivative liabilities(260)— (260)— 
Net assets$5,460 $4,585 $838 $37 
Progress Energy  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$77 $77 $— $82 $82 $— 
NDTF equity securities3,482 3,482 — 3,082 3,082 — 
NDTF debt securities1,409 502 907 1,294 454 840 
Other debt securities24 — 24 23 — 23 
Other cash and cash equivalents23 23 — 18 18 — 
Derivative assets127 — 127 34 — 34 
Total assets5,142 4,084 1,058 4,533 3,636 897 
Derivative liabilities(58)— (58)(234)— (234)
Net assets$5,084 $4,084 $1,000 $4,299 $3,636 $663 
Duke Energy Progress  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$54 $54 $— $55 $55 $— 
NDTF equity securities3,362 3,362 — 2,970 2,970 — 
NDTF debt securities1,221 365 856 1,050 266 784 
Other cash and cash equivalents16 16 — 14 14 — 
Derivative assets109 — 109 32 — 32 
Total assets4,762 3,797 965 4,121 3,305 816 
Derivative liabilities(57)— (57)(219)— (219)
Net assets$4,705 $3,797 $908 $3,902 $3,305 $597 
Duke Energy Florida  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$23 $23 $— $27 $27 $— 
NDTF equity securities120 120 — 112 112 — 
NDTF debt securities188 137 51 244 188 56 
Other debt securities24 — 24 23 — 23 
Other cash and cash equivalents3 3 — 3 3 — 
Derivative assets18 — 18 2 — 2 
Total assets376 283 93 411 330 81 
Derivative liabilities(1)— (1)(15)— (15)
Net assets$375 $283 $92 $396 $330 $66 
Duke Energy Indiana  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$89 $89 $— $— $98 $98 $— $— 
Other debt securities56 — 56 — 64 — 64 — 
Other cash equivalents1 1 — — 1 1 — — 
Derivative assets44 — 36 8 25 5 7 13 
Total assets190 90 92 8 188 104 71 13 
Derivative liabilities(3)(3)— — (18)(18)— — 
Net assets$187 $87 $92 $8 $170 $86 $71 $13 
Reconciliation of Assets and Liabilities Measured at Fair Value an a Recurring Basis Using Unobservable Inputs
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
 Derivatives (net)
 Years Ended December 31,
(in millions)20242023
Balance at beginning of period$13 $29 
Purchases, sales, issuances and settlements:
Purchases27 42 
Settlements(42)(68)
Total gains included on the Consolidated Balance Sheet
10 10 
Balance at end of period$8 $13 
Piedmont  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2024December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $1 $1 $— 
Derivative liabilities(94)— (94)(147)— (147)
Net (liabilities) assets$(93)$1 $(94)$(146)$1 $(147)
v3.25.0.1
Variable Interest Entities (Tables)
 12 Months Ended
Dec. 31, 2024
Consolidated VIEs  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the amounts and expiration dates of the credit facilities and associated restricted receivables described above.
Duke Energy
Duke EnergyDuke EnergyDuke Energy
CarolinasProgressFlorida
(in millions)CRCDERFDEPRDEFR
Expiration date
(a)
(c)
April 2025(b)
Credit facility amount
(a)
(c)
$400 
(b)
Amounts borrowed at December 31, 2024— 500 400 — 
Amounts borrowed at December 31, 2023312 500 400 325 
Restricted Receivables at December 31, 2024— 1,054 835 — 
Restricted Receivables at December 31, 2023663 991 833 532 
(a)    In March 2024, Duke Energy repaid all outstanding CRC borrowing and terminated the related $350 million CRC credit facility.
(b)    In April 2024, Duke Energy Florida repaid all outstanding DEFR borrowing and terminated the related $325 million DEFR credit facility.
(c)    In January 2025, Duke Energy Carolinas repaid all outstanding DERF borrowing and terminated the related $500 million DERF credit
facility.
Consolidated VIEs | Duke Energy Florida  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the impact of this VIE on Duke Energy Florida's Consolidated Balance Sheets.
(in millions)
December 31, 2024December 31, 2023
Inventory
$494 462
Accounts Payable
208188
Consolidated VIEs | DEFPF  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the impact of DEFPF on Duke Energy Florida's Consolidated Balance Sheets.
December 31,
(in millions)20242023
Regulatory Assets: Current61 59 
Current Assets: Other35 37 
Other Noncurrent Assets: Regulatory assets741 803 
Current Liabilities: Other8 8 
Current maturities of long-term debt59 59 
Long-Term Debt773 831 
Consolidated VIEs | DECNCSF and DEPNCSF  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.
December 31, 2024December 31, 2023
Duke Energy Carolinas
Duke Energy Progress
Duke Energy Carolinas
Duke Energy Progress
(in millions)
DECNCSF
DEPNCSF
DEPSCSF
DECNCSF
DEPNCSF
Regulatory Assets: Current$12 $39 $8 $12 $39 
Current Assets: Other9 27 13 9 31 
Other Noncurrent Assets: Regulatory assets189 620 155 196 643 
Other Noncurrent Assets: Other1 4 1 1 2 
Current maturities of long-term debt10 34 9 10 34 
Current Liabilities: Other2 10 7 3 8 
Long-Term Debt198 646 163 208 680 
Non-consolidated VIEs  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
The following tables summarize the impact of non-consolidated VIEs on the Consolidated Balance Sheets.
 December 31, 2024
 Duke Energy DukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $— $— 
Investments in equity method unconsolidated affiliates— — — 
Other noncurrent assets17 — — 
Total assets$17 $— $— 
Other current liabilities2 — — 
Other noncurrent liabilities— — — 
Total liabilities2 $— $— 
Net assets
$15 $— $— 
 December 31, 2023
 Duke EnergyDukeDuke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $150 $208 
Investments in equity method unconsolidated affiliates67 — — 
Other noncurrent assets43 — — 
Total assets$110 $150 $208 
Other current liabilities4 — — 
Other noncurrent liabilities5 — — 
Total liabilities$9 $— $— 
Net assets
$101 $150 $208 
Non-consolidated VIEs | CRC  
Variable Interest Entity [Line Items]  
Schedule of Variable Interest Entities
Key assumptions used in estimating fair value as of December 31, 2023, are detailed in the following table.
 Duke Energy OhioDuke Energy Indiana
Anticipated credit loss ratio0.6 %0.4 %
Discount rate6.1 %6.1 %
Receivable turnover rate13.9 %12.0 %
The following table shows the gross and net receivables sold. See discussion under Consolidated VIEs for additional information related to
CRC's termination in March 2024.
 Duke Energy OhioDuke Energy Indiana
December 31,December 31,
(in millions)2024202320242023
Receivables sold$— $361 $— $351 
Less: Retained interests— 150 — 208 
Net receivables sold$— $211 $— $143 
The following table shows sales and cash flows related to receivables sold and reflects CRC activity prior to its termination in March 2024.
 Duke Energy OhioDuke Energy Indiana
 Years Ended December 31,Years Ended December 31,
(in millions)202420232022202420232022
Sales      
Receivables sold$474 $2,578 $2,562 $473 $3,223 $3,744 
Loss recognized on sale7 34 18 6 39 26 
Cash flows  
Cash proceeds from receivables sold478 2,591 2,424 523 3,294 3,498 
Collection fees received— 1 1 — 2 2 
Return received on retained interests4 19 10 4 25 15 
v3.25.0.1
Revenue (Tables)
 12 Months Ended
Dec. 31, 2024
Revenue from Contract with Customer [Abstract]  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction Supplemental requirements contracts that include contracted blocks of energy and capacity at contractually fixed prices have the following estimated remaining performance obligations:
Remaining Performance Obligations
(in millions)20252026202720282029ThereafterTotal
Duke Energy Carolinas$12 $12 $12 $12 $— $— $48 
Progress Energy36 43 13 13 13 42 160 
Duke Energy Progress6 6 6 6 6 20 50 
Duke Energy Florida30 37 7 7 7 22 110 
Duke Energy Indiana17 17 15 5 — — 54 
Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20252026202720282029ThereafterTotal
Piedmont$64 $51 $49 $46 $44 $151 $405 
Disaggregation of Revenue Disaggregated revenues are presented as follows:
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$12,901 $4,150 $6,592 $2,872 $3,720 $1,009 $1,149 $— 
Commercial
8,207 3,080 3,718 1,754 1,964 590 818 — 
Industrial3,427 1,488 1,066 742 324 149 724 — 
Wholesale2,205 547 1,414 1,268 146 51 194 — 
Other revenues1,029 350 674 343 331 89 107 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$27,769 $9,615 $13,464 $6,979 $6,485 $1,888 $2,992 $— 
Gas Utilities and Infrastructure
Residential$1,320 $— $— $— $— $427 $— $893 
Commercial639 — — — — 153 — 486 
Industrial158 — — — — 33 — 125 
Power Generation— — — — — — — 33 
Other revenues126 — — — — 26 — 100 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,243 $— $— $— $— $639 $— $1,637 
Other
Revenue from contracts with customers$38 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$30,050 $9,615 $13,464 $6,979 $6,485 $2,527 $2,992 $1,637 
Other revenue sources(a)
$307 $103 $169 $38 $110 $18 $48 $92 
Total revenues$30,357 $9,718 $13,633 $7,017 $6,595 $2,545 $3,040 $1,729 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$12,098 $3,409 $6,510 $2,540 $3,970 $947 $1,233 $— 
Commercial
7,895 2,670 3,762 1,588 2,174 552 911 — 
Industrial3,416 1,334 1,105 733 372 191 786 — 
Wholesale2,175 492 1,388 1,240 148 46 248 — 
Other revenues962 318 590 325 265 93 157 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$26,546 $8,223 $13,355 $6,426 $6,929 $1,829 $3,335 $— 
Gas Utilities and Infrastructure
Residential$1,226 $— $— $— $— $435 $— $792 
Commercial605 — — — — 154 — 450 
Industrial141 — — — — 26 — 115 
Power Generation— — — — — — — 31 
Other revenues119 — — — — 24 — 95 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,091 $— $— $— $— $639 $— $1,483 
Other
Revenue from contracts with customers$37 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,674 $8,223 $13,355 $6,426 $6,929 $2,468 $3,335 $1,483 
Other revenue sources(a)
$386 $65 $189 $62 $107 $39 $64 $145 
Total revenues$29,060 $8,288 $13,544 $6,488 $7,036 $2,507 $3,399 $1,628 
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
Residential$11,377 $3,275 $5,812 $2,378 $3,434 $862 $1,430 $— 
Commercial
7,356 2,396 3,396 1,480 1,916 517 1,049 — 
Industrial3,504 1,251 1,095 770 325 202 956 — 
Wholesale2,856 561 1,785 1,346 439 127 383 — 
Other revenues795 372 994 768 226 61 19 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$25,888 $7,855 $13,082 $6,742 $6,340 $1,769 $3,837 $— 
Gas Utilities and Infrastructure
Residential$1,462 $— $— $— $— $488 $— $974 
Commercial765 — — — — 180 — 585 
Industrial170 — — — — 24 — 144 
Power Generation— — — — — — — 94 
Other revenues360 — — — — 25 — 271 
Total Gas Utilities and Infrastructure revenue from contracts with customers$2,757 $— $— $— $— $717 $— $2,068 
Other
Revenue from contracts with customers$30 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$28,675 $7,855 $13,082 $6,742 $6,340 $2,486 $3,837 $2,068 
Other revenue sources(a)
$93 $2 $43 $11 $13 $28 $85 $56 
Total revenues$28,768 $7,857 $13,125 $6,753 $6,353 $2,514 $3,922 $2,124 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Accounts Receivable, Allowance for Credit Loss
The following table presents the reserve for credit losses for trade and other receivables.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$121 $42 $36 $21 $16 $4 $3 $15 
Write-Offs(158)(73)(70)(36)(34)— — (12)
Credit Loss Expense160 40 72 17 55 2 1 11 
Other Adjustments93 59 43 42 (1)— — — 
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(164)(71)(84)(41)(42)— — (10)
Credit Loss Expense101 35 48 12 37 3 1 7 
Other Adjustments52 24 29 29 — — — — 
Balance at December 31, 2023$205 $56 $74 $44 $31 $9 $5 $11 
Write-Offs(132)(55)(73)(45)(28)— — (4)
Credit Loss Expense98 39 51 25 26 3 2 3 
Other Adjustments38 29 21 20 — 31 8 — 
Balance at December 31, 2024$209 $69 $73 $44 $29 $43 $15 $10 
v3.25.0.1
Stockholders' Equity (Tables)
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Schedule of Earnings Per Share
The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.
Years Ended December 31,
(in millions, except per share amounts)202420232022
Net Income available to Duke Energy common stockholders$4,402 $2,735 $2,444 
Less: Income (Loss) from discontinued operations attributable to Duke Energy common stockholders
7 (1,391)(1,215)
Accumulated preferred stock dividends adjustment14 — — 
Less: Impact of participating securities6 6 2 
Income from continuing operations available to Duke Energy common stockholders$4,403 $4,120 $3,657 
Income (Loss) from discontinued operations, net of tax
$10 $(1,455)$(1,323)
Add: (Income) Loss attributable to NCI
(3)64 108 
Income (Loss) from discontinued operations attributable to Duke Energy common stockholders
$7 $(1,391)$(1,215)
Weighted average common shares outstanding – basic and diluted
772 771 770 
EPS from continuing operations available to Duke Energy common stockholders
Basic and Diluted(a)
$5.70 $5.35 $4.74 
Earnings (Loss) Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and Diluted(a)
$0.01 $(1.81)$(1.57)
Potentially dilutive items excluded from the calculation(b)
2 2 2 
Dividends declared per common share$4.14 $4.06 $3.98 
Dividends declared on Series A preferred stock per depositary share(c)
$1.437 $1.437 $1.437 
Dividends declared on Series B preferred stock per share(d)
$48.750 $48.750 $48.750 
(a)    For the periods presented subsequent to issuance in April 2023, the convertible notes were excluded from the calculations of diluted
EPS because the effect was antidilutive.
(b)    Performance stock awards were not included in the dilutive securities calculation because the performance measures related to the awards had not been met.
(c)    5.75% Series A Cumulative Redeemable Perpetual Preferred Stock dividends are payable quarterly in arrears on the 16th day of March, June, September and December. The preferred stock has a $25 liquidation preference per depositary share.
(d)    4.875% Series B Fixed-Rate Reset Cumulative Redeemable Perpetual Preferred Stock dividends were payable semiannually in arrears on the 16th day of March and September. The preferred stock was redeemed on September 16, 2024.
Schedule of ATM Equity Issuances Pursuant to Forward Contracts
The following table shows ATM equity issuances pursuant to forward contracts executed during the year ended December 31, 2024.
Tranche
Shares Priced
Initial Forward Price
1
802,371$92.77 
2
729,674$101.10 
3
737,280$100.99 
4
662,266$111.45 
Total
2,931,591
v3.25.0.1
Severance (Tables)
 12 Months Ended
Dec. 31, 2024
Restructuring and Related Activities [Abstract]  
Schedule of Severance Expense
The following table presents the direct and allocated severance and related charges accrued for 341 employees in 2024, 682 employees in 2023 and 233 employees in 2022 by the Duke Energy Registrants within Operation, maintenance and other on the Consolidated Statements of Operations.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Year Ended December 31, 2024(a)(b)
$(28)$(11)$(9)$(5)$(4)$(2)$(4)$(2)
Year Ended December 31, 2023(c)(d)(e)
102 53 33 21 12 3 6 4 
Year Ended December 31, 2022(f)(g)
65 40 20 17 3 1 2 2 
(a)    Includes adjustments associated with 2022 severance charges of approximately $(1) million and $(1) million for Duke Energy and Duke Energy Carolinas, respectively.
(b)    Includes adjustments associated with 2023 severance charges of approximately $(27) million, $(11) million, $(9) million, $(5) million, $(4) million, $(2) million, $(4) million and $(2) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont, respectively.
(c)    Includes amortization of deferred severance charges of approximately $22 million, $14 million, $8 million and $8 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(d)    Includes adjustments associated with 2021 severance charges of approximately $(6) million, $(2) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida and Duke Energy Indiana, respectively.
(e)    Includes adjustments associated with 2022 severance charges of approximately $(14) million, $(7) million, $(5) million, $(3) million, $(2) million, $(1) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio and Duke Energy Indiana, respectively.
(f)    Includes amortization of deferred severance charges of approximately $33 million, $22 million, $11 million and $11 million for Duke Energy, Duke Energy Carolinas, Progress Energy and Duke Energy Progress, respectively.
(g)    Includes adjustments associated with 2021 severance charges of approximately $(19) million, $(6) million, $(8) million, $(4) million, $(4) million, $(1) million, $(2) million and $(1) million for Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont, respectively.
Schedule of Severance Liability
The table below presents the severance liability for past and ongoing severance plans including the plans described above.
DukeDukeDuke
Duke
Duke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)Energy
Carolinas
EnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2022
$64 $15 $6 $4 $2 $— $— $1 
Provision/Adjustments80 30 13 6 7 1 4 2 
Cash Reductions(42)(10)(3)(2)(1)— — (1)
Balance at December 31, 2023$102 $35 $16 $8 $8 $1 $4 $2 
Provision/Adjustments(28)(6)(3)(1)(2)(1)(3)(1)
Cash Reductions(55)(21)(11)(6)(5)— (1)(1)
Balance at December 31, 2024$19 $8 $2 $1 $1 $— $— $— 
v3.25.0.1
Stock-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2024
Share-Based Payment Arrangement [Abstract]  
Schedule of Total Stock-Based Compensation Expense, net of tax
The following table summarizes the total expense recognized by the Duke Energy Registrants, net of tax, for stock-based compensation.
 Years Ended December 31,
(in millions)202420232022
Duke Energy$70 $71 $74 
Duke Energy Carolinas25 25 27 
Progress Energy28 28 27 
Duke Energy Progress17 17 17 
Duke Energy Florida11 11 10 
Duke Energy Ohio5 5 5 
Duke Energy Indiana7 7 7 
Piedmont4 4 4 
Schedule of Stock-Based Compensation Expense
Duke Energy's pretax stock-based compensation costs, the tax benefit associated with stock-based compensation expense and stock-based compensation costs capitalized are included in the following table.
 Years Ended December 31,
(in millions)202420232022
RSU awards$49 $54 $58 
Performance awards47 43 42 
Pretax stock-based compensation cost$96 $97 $100 
Stock-based compensation costs capitalized6 6 5 
Stock-based compensation expense$90 $91 $95 
Tax benefit associated with stock-based compensation expense$20 $20 $21 
Schedule of Share-based Compensation, Restricted Stock Units Award Activity The following table includes information related to RSU awards.
 Years Ended December 31,
 202420232022
Shares granted (in thousands) 598 670 654 
Fair value (in millions)$59 $65 $64 
The following table summarizes information about RSU awards outstanding.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2023
1,115 $96 
Granted598 99 
Vested(581)95 
Forfeited(73)98 
Outstanding at December 31, 2024
1,059 98 
RSU awards expected to vest1,014 98 
Schedule of Performance Awards
The following table includes information related to stock-based performance awards.
 Years Ended December 31,
 202420232022
Shares granted assuming target performance (in thousands)440 422 408 
Fair value (in millions)$42 $42 $40 
Schedule of Nonvested Performance-based Units Activity
The following table summarizes information about stock-based performance awards outstanding and assumes payout at the target level.
Weighted Average
SharesGrant Date Fair Value
 (in thousands)(per share)
Outstanding at December 31, 2023
1,115 $96 
Granted440 95 
Vested(338)88 
Forfeited(30)96 
Outstanding at December 31, 2024
1,187 98 
Stock-based performance awards expected to vest1,156 98 
v3.25.0.1
Employee Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2024
Defined Benefit Plan Disclosure [Line Items]  
Pension Plan Contributions The following table includes information related to the Duke Energy Registrants’ contributions to its qualified defined benefit pension plans.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Contributions Made:
2024$100 $26 $23 $14 $9 $5 $8 $3 
2023100 26 22 13 9 5 8 3 
202258 15 13 8 5 3 5 2 
Fair Value and Allocation of Plan Assets
The following table includes the target asset allocations by asset class at December 31, 2024, and the actual asset allocations for the RCBP assets.
Actual Allocation at
TargetDecember 31,
Allocation20242023
Global equity securities45 %44 %45 %
Global private equity securities2 %1 %2 %
Debt securities35 %33 %35 %
Return seeking debt securities7 %7 %6 %
Hedge funds4 %5 %4 %
Real estate and cash7 %10 %8 %
Total100 %100 %100 %
The following table includes the target asset allocations by asset class at December 31, 2024, and the actual asset allocations for the DELPP assets.
Actual Allocation at
TargetDecember 31,
Allocation20242023
Global equity securities14 %15 %14 %
Global private equity securities1 %— %— %
Debt securities80 %79 %79 %
Return seeking debt securities2 %2 %2 %
Hedge funds1 %— %2 %
Real estate and cash2 %4 %3 %
Total100 %100 %100 %
The following table presents target and actual asset allocations for the VEBA trusts at December 31, 2024.
Actual Allocation at
TargetDecember 31,
Allocation20242023
U.S. equity securities29 %34 %30 %
Non-U.S. equity securities15 %15 %15 %
Real estate5 %7 %7 %
Debt securities47 %31 %30 %
Cash4 %13 %18 %
Total100 %100 %100 %
The following tables provide the fair value measurement amounts for the Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets.
December 31, 2024
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,461 $2,216 $231 $— $14 
Corporate debt securities2,415 — 2,415 — — 
Short-term investment funds310 — 310 — — 
Partnership interests68 — — 68 — 
Hedge funds164 — — — 164 
U.S. government securities1,398 — 1,398 — — 
Governments bonds – foreign128 — 128 — — 
Cash15 15 — — — 
Government and commercial mortgage-backed securities
1 — 1 — — 
Net pending transactions and other investments9 11 (2)— — 
Total assets(a)
$6,969 $2,242 $4,481 $68 $178 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2024. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
December 31, 2023
Total FairNot
(in millions)ValueLevel 1Level 2Level 3
Categorized(b)
Equity securities$2,221 $1,995 $211 $— $15 
Corporate debt securities2,807 — 2,807 — — 
Short-term investment funds233 — 233 — — 
Partnership interests76 — — 76 — 
Hedge funds164 — — — 164 
U.S. government securities1,571 — 1,571 — — 
Governments bonds – foreign107 — 107 — — 
Cash7 7 — — — 
Government and commercial mortgage-backed securities
1 — 1 — — 
Net pending transactions and other investments54 40 14 — — 
Total assets(a)
$7,241 $2,042 $4,944 $76 $179 
(a)    Duke Energy Carolinas, Progress Energy, Duke Energy Progress, Duke Energy Florida, Duke Energy Ohio, Duke Energy Indiana and Piedmont were allocated approximately 27%, 33%, 15%, 18%, 5%, 7% and 3%, respectively, of the Duke Energy Corporation Master Retirement Trust at December 31, 2023. Accordingly, all amounts included in the table above are allocable to the Subsidiary Registrants using these percentages.
(b)    Certain investments that are measured at fair value using the net asset value per share practical expedient have not been categorized in the fair value hierarchy.
The following tables provide the fair value measurement amounts for VEBA trust assets.
December 31, 2024
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$3 $3 
Real estate1 1 
Equity securities10 10 
Debt securities6 6 
Total assets$20 $20 
December 31, 2023
Total Fair
(in millions)ValueLevel 2
Cash and cash equivalents$4 $4 
Real estate1 1 
Equity securities9 9 
Debt securities6 6 
Total assets$20 $20 
Master Trust Level 3 Rollforward
The following table provides a reconciliation of beginning and ending balances of Duke Energy Corporation Master Retirement Trust qualified pension and other post-retirement assets at fair value on a recurring basis where the determination of fair value includes significant unobservable inputs (Level 3).
(in millions)20242023
Balance at January 1$76 $62 
Sales(10)(8)
Total gains and other, net2 22 
Balance at December 31$68 $76 
Employee Savings Plan Matching Contributions
The following table includes pretax employer matching contributions made by Duke Energy and expensed by the Subsidiary Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ended December 31,
2024$257 $81 $72 $43 $29 $6 $13 $14 
2023238 75 62 40 22 6 13 13 
2022246 76 65 43 22 6 12 13 
Pension Plan  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Pension Costs
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$114 $37 $32 $19 $13 $3 $6 $4 
Interest cost on projected benefit obligation325 78 103 47 56 17 26 9 
Expected return on plan assets(613)(161)(217)(99)(116)(25)(42)(20)
Amortization of actuarial loss36 8 10 6 5 1 4 3 
Amortization of prior service credit(13)(1)— — — — (2)(7)
Amortization of settlement charges(c)
32 12 10 9 2 2 2 5 
Net periodic pension costs(a)(b)
$(119)$(27)$(62)$(18)$(40)$(2)$(6)$(6)
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$117 $38 $33 $19 $13 $3 $6 $4 
Interest cost on projected benefit obligation344 84 107 49 57 18 27 9 
Expected return on plan assets(588)(160)(198)(93)(104)(24)(40)(20)
Amortization of actuarial loss10 2 4 2 2 — 2 — 
Amortization of prior service credit(14)(1)— — — — (2)(7)
Amortization of settlement charges19 9 5 3 1 — 1 4 
Net periodic pension costs(a)(b)
$(112)$(28)$(49)$(20)$(31)$(3)$(6)$(10)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$152 $48 $43 $25 $17 $4 $9 $5 
Interest cost on projected benefit obligation249 59 77 35 41 13 20 8 
Expected return on plan assets(558)(152)(183)(88)(94)(23)(37)(24)
Amortization of actuarial loss81 16 23 12 12 4 9 5 
Amortization of prior service credit(18)(3)— — — — (2)(7)
Amortization of settlement charges(c)
32 9 8 7 1 5 1 7 
MRVA method change24 — 24 — 24 — — — 
Net periodic pension costs(a)(b)
$(38)$(23)$(8)$(9)$1 $3 $— $(6)
(a)    Duke Energy amounts exclude $2 million, $3 million and $3 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(c)    Includes settlement charges not deferred as a regulatory asset.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase
$147 $39 $33 $1 $31 $11 $6 $16 
Accumulated other comprehensive loss (income)
Deferred income tax benefit
$3 $— $— $— $— $— $— $— 
Amortization of prior year service credit1 — — — — — — — 
Amortization of prior year actuarial losses(12)— 1 — — — (2)— 
Net amount recognized in accumulated other comprehensive income
$(8)$— $1 $— $— $— $(2)$— 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$5 $(14)$8 $— $9 $(3)$(2)$13 
Accumulated other comprehensive loss (income)
Amortization of prior year actuarial losses(2)— — — — — — — 
Net amount recognized in accumulated other comprehensive income
$(2)$— $— $— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Net Amount Recognized
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $6,299 $1,514 $1,990 $911 $1,069 $325 $496 $175 
Service cost107 36 30 18 12 3 6 4 
Interest cost325 78 103 47 56 17 26 9 
Actuarial (gain)/loss
(106)(13)(50)(27)(22)(3)(16)5 
Benefits paid(645)(177)(198)(111)(88)(33)(41)(12)
Transfers— 6 — — — — — — 
Obligation at measurement date$5,980 $1,444 $1,875 $838 $1,027 $309 $471 $181 
Accumulated Benefit Obligation at measurement date$5,948 $1,444 $1,861 $838 $1,013 $304 $466 $181 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$7,162 $1,853 $2,453 $1,120 $1,316 $326 $514 $213 
Employer contributions100 26 23 14 9 5 8 3 
Actual return on plan assets270 73 98 46 53 11 17 10 
Benefits paid(645)(177)(198)(111)(88)(33)(41)(12)
Transfers— 6 — — — — — — 
Plan assets at measurement date$6,887 $1,781 $2,376 $1,069 $1,290 $309 $498 $214 
Funded status of plan$907 $337 $501 $231 $263 $— $27 $33 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Projected Benefit Obligation
Obligation at prior measurement date $6,358 $1,554 $1,975 $909 $1,055 $333 $499 $170 
Service cost110 36 30 18 12 3 6 3 
Interest cost344 84 107 49 57 18 27 9 
Actuarial loss
94 11 47 18 29 2 4 9 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Obligation at measurement date$6,299 $1,514 $1,990 $911 $1,069 $325 $496 $175 
Accumulated Benefit Obligation at measurement date$6,267 $1,517 $1,975 $912 $1,053 $317 $494 $176 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$6,993 $1,815 $2,371 $1,083 $1,271 $323 $501 $203 
Employer contributions100 26 22 13 9 5 8 3 
Actual return on plan assets676 183 229 107 120 29 45 23 
Benefits paid(607)(177)(159)(80)(78)(31)(40)(16)
Transfers— 6 (10)(3)(6)— — — 
Plan assets at measurement date$7,162 $1,853 $2,453 $1,120 $1,316 $326 $514 $213 
Funded status of plan$863 $339 $463 $209 $247 $1 $18 $38 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$907 $337 $501 $231 $263 $74 $101 $33 
Noncurrent pension liability(b)
$— $— $— $— $— $74 $74 $— 
Net asset (liability) recognized$907 $337 $501 $231 $263 $— $27 $33 
Regulatory assets$2,168 $570 $711 $354 $356 $100 $182 $113 
Accumulated other comprehensive income (loss)
 
Deferred income tax benefit$(24)$— $(1)$— $— $— $— $— 
Net actuarial loss115 — 4 — — — — — 
Net amounts recognized in accumulated other comprehensive income
$91 $— $3 $— $— $— $— $— 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded pension(a)
$863 $339 $463 $209 $247 $74 $105 $38 
Noncurrent pension liability(b)
$— $— $— $— $— $73 $87 $— 
Net asset (liability) recognized$863 $339 $463 $209 $247 $1 $18 $38 
Regulatory assets$2,021 $531 $678 $353 $325 $89 $176 $97 
Accumulated other comprehensive (income) loss
Deferred income tax benefit$(27)$— $(1)$— $— $— $— $— 
Prior service credit(1)— — — — — — — 
Net actuarial loss127 — 3 — — — 2 — 
Net amounts recognized in accumulated other comprehensive loss
$99 $— $2 $— $— $— $2 $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets.
(b)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
Information for Plans with Accumulated Benefit Obligation in Excess of Plan Assets
December 31, 2024
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$106 $203 
Accumulated benefit obligation101 197 
Fair value of plan assets32 128 
December 31, 2023
DukeDuke
EnergyEnergy
(in millions)OhioIndiana
Projected benefit obligation$105 $208 
Accumulated benefit obligation100 203 
Fair value of plan assets31 121 
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions or range of assumptions used for pension benefit accounting.
December 31,
202420232022
Benefit Obligations
Discount rate5.70%5.40%5.60%
Interest crediting rate4.78%4.15%4.35%
Salary increase 3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Net Periodic Benefit Cost
Discount rate5.00 %–5.40%5.60%2.90 %–5.70%
Interest crediting rate4.15%4.35%4.00%
Salary increase3.50 %–4.00%3.50 %–4.00%3.50 %–4.00%
Expected long-term rate of return on plan assets8.50 %–7.00 %6.50 –8.25%6.50%
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2025$628 $173 $183 $98 $84 $31 $43 $19 
2026606 161 179 91 87 30 42 18 
2027586 153 175 87 87 29 42 17 
2028572 149 173 85 87 29 41 17 
2029546 138 167 79 87 29 42 16 
2030-2034
2,407 567 762 338 420 129 197 73 
Other Post-Retirement Benefit Plans  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
Components of Net Periodic Other Post-Retirement Benefit Costs
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$2 $— $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation17 3 7 4 3 1 1 1 
Expected return on plan assets(11)(8)— — — — — (2)
Amortization of actuarial (gain) loss
(6)(2)8 6 2 (2)(4)— 
Amortization of prior service credit(21)(4)(11)(6)(5)— (5)— 
Net periodic post-retirement benefit costs (a)(b)
$(19)$(11)$4 $4 $— $(1)$(8)$(1)
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$2 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation22 5 9 5 4 1 1 1 
Expected return on plan assets(11)(7)— — — — — (2)
Amortization of actuarial (gain) loss
(6)(3)8 5 2 (2)(3)— 
Amortization of prior service credit(23)(5)(11)(6)(5)— (5)— 
Net periodic post-retirement benefit costs(a)(b)
$(16)$(9)$6 $4 $1 $(1)$(7)$(1)
Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$3 $1 $— $— $— $— $— $— 
Interest cost on accumulated post-retirement benefit obligation17 4 7 4 3 1 1 1 
Expected return on plan assets(10)(6)— — — — — (2)
Amortization of actuarial loss2 — 1 1 1 — — — 
Amortization of prior service credit(8)(3)(2)(1)(1)— — (2)
Net periodic post-retirement benefit costs(a)(b)
$4 $(4)$6 $4 $3 $1 $1 $(3)
(a)    Duke Energy amounts exclude $4 million, $4 million and $4 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
(b)    Duke Energy Ohio amounts exclude $1 million, $1 million and $1 million for the years ended December 2024, 2023 and 2022, respectively, of regulatory asset amortization resulting from purchase accounting adjustments associated with Duke Energy's merger with Cinergy in April 2006.
Amounts Recognized in AOCI and Regulatory Assets and Liabilities
Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net (decrease) increase
$(42)$(62)$23 $17 $5 $(1)$(3)$— 
Regulatory liabilities, net (decrease) increase
$(76)$(71)$12 $12 $— $(3)$(12)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year actuarial gain1 — — — — — — — 
Net amount recognized in accumulated other comprehensive income
$1 $— $— $— $— $— $— $— 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Regulatory assets, net increase (decrease)
$73 $79 $(7)$(5)$— $(2)$(2)$1 
Regulatory liabilities, net increase (decrease)
$41 $62 $— $— $— $(4)$(8)$— 
Accumulated other comprehensive (income) loss
Amortization of prior year service credit$1 $— $— $— $— $— $— $— 
Amortization of prior year actuarial gain$— $— $(1)$— $— $— $— $— 
Net amount recognized in accumulated other comprehensive income
$1 $— $(1)$— $— $— $— $— 
Reconciliation of Funded Status to Net Amount Recognized
Reconciliation of Funded Status to Accrued Other Post-Retirement Benefit Costs
Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$347 $69 $146 $84 $60 $19 $24 $15 
Service cost2 — — — — — — — 
Interest cost17 3 7 4 3 1 1 1 
Plan participants' contributions3 1 1 — — — — — 
Actuarial losses (gains)
2 (2)7 5 3 — (2)— 
Benefits paid(37)(8)(15)(6)(6)(2)(3)(1)
Accumulated post-retirement benefit obligation at measurement date$334 $63 $146 $87 $60 $18 $20 $15 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$156 $102 $(1)$(1)$(1)$7 $3 $27 
Actual return on plan assets7 4 — — — — — 3 
Benefits paid(37)(8)(15)(6)(6)(2)(3)(1)
Tax refund
5 4 — — — — — — 
Employer contributions27 4 14 7 7 2 — — 
Plan participants' contributions3 1 1 — — — — — 
Plan assets at measurement date$161 $107 $(1)$— $— $7 $— $29 
Funded status of plan$(173)$44 $(147)$(87)$(60)$(11)$(20)$14 
Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Change in Benefit Obligation
Accumulated post-retirement benefit obligation at prior measurement date$437 $112 $168 $95 $69 $20 $30 $21 
Service cost2 1 — — — — — — 
Interest cost22 5 9 5 4 1 1 1 
Plan participants' contributions4 1 1 1 1 — — — 
Actuarial (gains) losses
(10)(2)(10)(6)(4)1 (1)1 
Transfers(50)(34)— — — — — (6)
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Accumulated post-retirement benefit obligation at measurement date$347 $69 $146 $84 $60 $19 $24 $15 
Change in Fair Value of Plan Assets
Plan assets at prior measurement date$162 $105 $— $(2)$(2)$7 $3 $31 
401(h) asset transfers— (8)— — — — — — 
Actual return on plan assets19 8 — — — 1 — 4 
Benefits paid(58)(14)(22)(11)(10)(3)(6)(2)
Transfers(13)4 — — — — — (7)
Employer contributions42 6 20 11 10 2 6 1 
Plan participants' contributions4 1 1 1 1 — — — 
Plan assets at measurement date$156 $102 $(1)$(1)$(1)$7 $3 $27 
Funded status of plan$(191)$33 $(147)$(85)$(61)$(12)$(21)$12 
Amounts Recognized in the Consolidated Balance Sheet
Amounts Recognized in the Consolidated Balance Sheets
December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit(a)
$— $44 $— $— $— $1 $— $14 
Current post-retirement liability(b)
8 — 5 3 2 1 — — 
Noncurrent post-retirement liability(c)
165 — 142 84 58 11 20 — 
Net liability (asset) recognized$173 $(44)$147 $87 $60 $11 $20 $(14)
Regulatory assets$81 $17 $62 $46 $16 $1 $20 $1 
Regulatory liabilities$154 $35 $12 $12 $— $14 $62 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Net actuarial gain(12)— (1)— — — — — 
Net amounts recognized in accumulated other comprehensive income
$(9)$— $(1)$— $— $— $— $— 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Prefunded post-retirement benefit(a)
$— $61 $— $— $— $1 $— $12 
Current post-retirement liability(b)
12 3 5 3 2 1 — — 
Noncurrent post-retirement liability(c)
179 25 142 82 59 12 21 — 
Net liability (asset) recognized$191 $(33)$147 $85 $61 $12 $21 $(12)
Regulatory assets$123 $79 $39 $29 $11 $2 $23 $1 
Regulatory liabilities$230 $106 $— $— $— $17 $74 $— 
Accumulated other comprehensive (income) loss
Deferred income tax expense$3 $— $— $— $— $— $— $— 
Net actuarial gain(13)— (1)— — — — — 
Net amounts recognized in accumulated other comprehensive income
$(10)$— $(1)$— $— $— $— $— 
(a)    Included in Other within Other Noncurrent Assets on the Consolidated Balance Sheets. 
(b)    Included in Other within Current Liabilities on the Consolidated Balance Sheets.
(c)    Included in Accrued pension and other post-retirement benefit costs on the Consolidated Balance Sheets.
Assumptions Used for Pension Benefits Accounting
The following tables present the assumptions used for other post-retirement benefits accounting.
December 31,
202420232022
Benefit Obligations
Discount rate5.70 %5.40 %5.60 %
Net Periodic Benefit Cost
Discount rate5.40 %5.60 %2.90 %
Expected long-term rate of return on plan assets6.50 %–8.25 %6.50 %–8.25 %6.50 %
Expected Benefit Payments
Expected Benefit Payments
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Years ending December 31,
2025$52 $13 $18 $11 $8 $3 $4 $2 
202645 11 16 10 7 3 3 2 
202741 9 16 9 7 2 3 2 
202838 8 15 9 6 2 3 2 
202935 7 14 8 6 2 2 2 
2030-2034
124 21 59 35 24 6 8 6 
Assumed Health Care Cost Trend Rate
Assumed Health Care Cost Trend Rate
December 31,
20242023
Health care cost trend rate assumed for next year – pre-65 trend
7.00 %6.50 %
Rate to which the cost trend is assumed to decline (the ultimate trend rate)4.75 %4.75 %
Year that rate reaches ultimate trend
2034-2035
2031-2032
v3.25.0.1
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2024
Income Tax Disclosure [Abstract]  
Schedule of Components of Income Tax Expense (Benefit)
Components of Income Tax Expense
Tax benefit from discontinued operations, in the following tables, includes income tax benefits related to the Commercial Renewables Disposal Groups. See Note 2 for further details.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes
Federal
$(365)$178 $359 $373 $14 $52 $70 $40 
State 31 75 34 40 (12)3 12 (6)
Foreign 2 — — — — — — — 
Total current income taxes (332)253 393 413 2 55 82 34 
Deferred income taxes       
Federal 858 10 (22)(215)181 8 (19)40 
State 81 (25)59 (6)86 1 8 21 
Total deferred income taxes(a)
939 (15)37 (221)267 9 (11)61 
ITC amortization (17)(12)(4)(3)(1)— — — 
Income tax expense from continuing operations 590 226 426 189 268 64 71 95 
Tax benefit from discontinued operations (50)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$540 $226 $426 $189 $268 $64 $71 $95 
(a)     Total deferred income taxes include the utilization of NOL carryforwards and tax credit carryforwards of $523 million at Duke Energy and $8 million at Duke Energy Indiana. In addition, total deferred income taxes include the generation of NOL carryforwards and tax credit carryforwards of $47 million at Duke Energy Carolinas, $85 million at Progress Energy, $66 million at Duke Energy Progress, $30 million at Duke Energy Florida, $26 million at Duke Energy Ohio, and $8 million at Piedmont.
    
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal(b)
$71 $173 $459 $198 $279 $(46)$10 $44 
State 1 22 38 4 71 (3)9 3 
Foreign 3 — — — — — — — 
Total current income taxes 75 195 497 202 350 (49)19 47 
Deferred income taxes
Federal 319 (43)(154)(69)(89)111 77 25 
State 53 (7)38 19 — 1 14 12 
Total deferred income taxes(a)
372 (50)(116)(50)(89)112 91 37 
ITC amortization (9)(4)(4)(3)— — — — 
Income tax expense from continuing operations 438 141 377 149 261 63 110 84 
Tax benefit from discontinued operations (359)— — — — — — — 
Total income tax expense included in Consolidated Statements of Operations
$79 $141 $377 $149 $261 $63 $110 $84 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $214 million at Duke Energy and $54 million at Duke Energy Indiana. In addition, total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $2 million at Duke Energy Carolinas, $116 million at Progress Energy, $59 million at Duke Energy Progress, $5 million at Duke Energy Florida, $22 million at Duke Energy Ohio, and $15 million at Piedmont.
(b)    Total current federal income tax at Duke Energy includes corporate alternative minimum tax, net of tax credit utilization, of $69 million. In addition, under the IRA transferability provision, Progress Energy elected to sell $28 million of PTCs generated by Duke Energy Florida.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current income taxes        
Federal $1 $(71)$(13)$37 $(37)$(2)$38 $32 
State (8)(13)(3)— (23)1 2 2 
Foreign 4 — — — — — — — 
Total current income taxes (3)(84)(16)37 (60)(1)40 34 
Deferred income taxes
Federal 328 230 310 118 201 (22)(63)12 
State (14)(16)59 7 84 3 — (7)
Total deferred income taxes(a)
314 214 369 125 285 (19)(63)5 
ITC amortization (11)(4)(5)(4)— (1)(1)— 
Income tax expense (benefit) from continuing operations
300 126 348 158 225 (21)(24)39 
Tax benefit from discontinued operations (503)— — — — — — — 
Total income tax (benefit) expense included in Consolidated Statements of Operations
$(203)$126 $348 $158 $225 $(21)$(24)$39 
(a)    Total deferred income taxes includes the generation of NOL carryforwards and tax credit carryforwards of $550 million at Duke Energy, $97 million at Duke Energy Carolinas, $128 million at Progress Energy, $9 million at Duke Energy Progress, $111 million at Duke Energy Florida, $7 million at Duke Energy Ohio, $13 million at Duke Energy Indiana, and $12 million at Piedmont.
Schedule of Income before Income Tax, Domestic and Foreign
Duke Energy Income from Continuing Operations before Income Taxes
 Years Ended December 31,
(in millions)202420232022
Domestic$5,145 $4,700 $3,991 
Foreign49 67 87 
Income from continuing operations before income taxes$5,194 $4,767 $4,078 
Summary of Effective Tax Rates
The following tables present a reconciliation of income tax expense at the U.S. federal statutory tax rate to the actual tax expense from continuing operations.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$1,090$443$545$284$279$85$108$107
State income tax, net of federal income tax effect8840 73275831612
Amortization of EDIT
(436)(225)(121)(98)(23)(23)(49)(18)
AFUDC equity income(48)(24)(16)(13)(3)(1)(3)(4)
AFUDC equity depreciation3819147724—
Production tax credits
(46)—(46)—(46)———
Other tax credits
(43)(23)(16)(12)(4)(1)(2)(2)
Other items, net(53)(4)(7)(6)—(1)(3)—
Income tax expense from continuing operations$590 $226 $426 $189 $268 $64 $71 $95 
Effective tax rate11.4 %10.7 %16.4 %14.0 %20.2 %15.8 %13.9 %18.7 %
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$1,001$338$490$241$268$83$128$97
State income tax, net of federal income tax effect4312 601856(2)1812
Amortization of EDIT
(388)(197)(114)(91)(23)(22)(33)(20)
AFUDC equity income(41)(19)(14)(11)(3)(2)(2)(4)
AFUDC equity depreciation3718136724—
Tax credits(b)
(63)(11)(46)(7)(39)(2)(2)(1)
Interest on company-owned life insurance(a)
(114)———————
Other items, net(37)—(12)(7)(5)6(3)—
Income tax expense from continuing operations
$438 $141 $377 $149 $261 $63 $110 $84 
Effective tax rate9.2 %8.8 %16.2 %13.0 %20.4 %15.9 %18.1 %18.1 %
(a)     During 2023, the Company evaluated the deductibility of certain items spanning periods currently open under federal statute, including items related to interest on company-owned life insurance. As a result of this analysis, the Company recorded a favorable federal adjustment of approximately $114 million and a favorable state adjustment of approximately $6 million. The favorable state adjustment is included in State income tax, net of federal income tax effect, in the above table.
(b)    Tax credits at Progress Energy and Duke Energy Florida include $28 million of certain eligible PTCs, net of discount, that were elected to be sold in 2023 under the transferability provisions of the IRA.
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Income tax expense, computed at the statutory rate of 21%$856 $362 $457 $245 $238 $59 $24 $76 
State income tax, net of federal income tax effect(17)(23)44 6 48 3 2 (4)
Amortization of EDIT
(481)(195)(133)(74)(59)(79)(48)(23)
AFUDC equity income(41)(20)(14)(11)(3)(1)(2)(2)
AFUDC equity depreciation36 18 12 6 6 1 4 — 
Other tax credits(43)(12)(16)(9)(7)(2)(3)(8)
Other items, net(10)(4)(2)(5)2 (2)(1)— 
Income tax expense (benefit) from continuing operations
$300 $126 $348 $158 $225 $(21)$(24)$39 
Effective tax rate7.4 %7.3 %16.0 %13.6 %19.8 %(7.5)%(21.2)%10.8 %
Schedule of Deferred Tax Assets and Liabilities
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $284 $217 $84 $43 $41 $17 $15 $40 
Lease obligations 430 88 265 179 86 2 12 2 
Pension, post-retirement and other employee benefits 89 (33)(23)(1)(26)6 1 (2)
Progress Energy merger purchase accounting adjustments(a)
227 — — — — — — — 
Tax credits and NOL carryforwards 3,845 522 783 312 449 70 145 57 
Regulatory liabilities and deferred credits— — — — — — 10 — 
Other 35 11 5 3 2 4 — 8 
Valuation allowance (517)— — — — — — — 
Total deferred income tax assets 4,393 805 1,114 536 552 99 183 105 
Investments and other assets (2,114)(1,350)(724)(671)(69)— — (48)
Accelerated depreciation rates (11,942)(3,203)(4,608)(1,624)(3,047)(1,361)(1,677)(1,019)
Regulatory assets and deferred debits, net (1,761)(304)(1,045)(585)(460)(52)— (56)
Total deferred income tax liabilities (15,817)(4,857)(6,377)(2,880)(3,576)(1,413)(1,677)(1,123)
Net deferred income tax liabilities$(11,424)$(4,052)$(5,263)$(2,344)$(3,024)$(1,314)$(1,494)$(1,018)
(a)    Primarily related to lease obligations and debt fair value adjustments.
 December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Deferred credits and other liabilities $327 $194 $77 $21 $56 $13 $18 $42 
Lease obligations 418 86 256 179 77 4 15 3 
Pension, post-retirement and other employee benefits 65 (41)(22)(1)(25)5 2 (5)
Progress Energy merger purchase accounting adjustments(a)
260 — — — — — — — 
Tax credits and NOL carryforwards 4,489 445 686 230 425 44 154 50 
Regulatory liabilities and deferred credits— — — — — — 47 — 
Investments and other assets— — — — — — 1 — 
Other 102 29 22 12 8 5 5 9 
Valuation allowance (544)— — — — — — — 
Total deferred income tax assets 5,117 713 1,019 441 541 71 242 99 
Investments and other assets (1,812)(1,213)(596)(520)(91)— — (37)
Accelerated depreciation rates (11,969)(3,411)(4,557)(1,823)(2,778)(1,314)(1,678)(944)
Regulatory assets and deferred debits, net (1,892)(468)(1,063)(658)(405)(29)— (51)
Total deferred income tax liabilities (15,673)(5,092)(6,216)(3,001)(3,274)(1,343)(1,678)(1,032)
Net deferred income tax liabilities $(10,556)$(4,379)$(5,197)$(2,560)$(2,733)$(1,272)$(1,436)$(933)
(a)    Primarily related to lease obligations and debt fair value adjustments.
Summary of Tax Credit Carryforwards
The following table presents the expiration of tax credits and NOL carryforwards.
 December 31, 2024
(in millions)AmountExpiration Year
General Business Credits$2,186 2032—2044
Foreign Tax Credits(c)
615 2027—2028
State Carryforwards and Credits(a)
316 2025—Indefinite
Corporate AMT Credits717 Indefinite
Foreign NOL carryforwards(b)
11 2027—2042
Total tax credits and NOL carryforwards
$3,845    
(a)    A valuation allowance of $102 million has been recorded on the state NOL and attribute carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(b)    A valuation allowance of $11 million has been recorded on the foreign NOL carryforwards, as presented in the Net Deferred Income Tax Liability Components table.
(c)    A valuation allowance of $404 million has been recorded on the foreign tax credits, as presented in the Net Deferred Income Tax Liability Components table.
In 2024, the Company recorded a corporate alternative minimum tax liability, net of tax credit utilization, of $133 million. In addition, under the IRA
transferability provision, the Company received net proceeds of $558 million related to the sale of certain tax credits generated by Duke Energy Carolinas, Duke Energy Progress and Duke Energy Florida.
Schedule of Unrecognized Tax Benefits Roll Forward
The following tables present changes to unrecognized tax benefits.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$62 $21 $24 $18 $6 $2 $3 $11 
Gross increases – current period tax positions12 4 5 4 1 — — 2 
Unrecognized tax benefits – December 31$74 $25 $29 $22 $7 $2 $3 $13 
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$65 $17 $19 $13 $5 $1 $2 $9 
Gross decreases – tax positions in prior periods
(15)— — — — — — — 
Gross increases – current period tax positions12 4 5 5 1 1 1 2 
Total changes(3)4 5 5 1 1 1 2 
Unrecognized tax benefits – December 31$62 $21 $24 $18 $6 $2 $3 $11 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unrecognized tax benefits – January 1$51 $13 $15 $10 $4 $1 $2 $4 
Gross increases – current period tax positions14 4 4 3 1 — — 5 
Total changes14 4 4 3 1 — — 5 
Unrecognized tax benefits – December 31$65 $17 $19 $13 $5 $1 $2 $9 
Summary of Income Tax Contingencies
The following table includes additional information regarding the Duke Energy Registrants' unrecognized tax benefits at December 31, 2024. None of Duke Energy Registrants anticipates a material increase or decrease in unrecognized tax benefits within the next 12 months.
 December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Amount that if recognized, would affect the
effective tax rate or regulatory liability(a)
$68 $24 $27 $20 $7 $2 $3 $11 
(a)    The Duke Energy Registrants are unable to estimate the specific amounts that would affect the ETR versus the regulatory liability.
v3.25.0.1
Other Income and Expenses, Net (Tables)
 12 Months Ended
Dec. 31, 2024
Other Income and Expenses [Abstract]  
Schedule of Other Income and Expenses, Net
The components of Other income and expenses, net on the Consolidated Statements of Operations are as follows.
 Year Ended December 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income$63 $9 $18 $14 $4 $8 $5 $19 
AFUDC equity 233 113 74 61 13 7 19 21 
Post-in-service equity returns
52 31 20 20 — 1 1 — 
Nonoperating income, other 313 94 123 48 69 3 37 14 
Other income and expense, net $661 $247 $235 $143 $86 $19 $62 $54 
 Year Ended December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $29 $10 $14 $9 $7 $25 $25 $19 
AFUDC equity 198 91 67 52 15 9 10 21 
Post-in-service equity returns
39 19 19 19 — 1 — — 
Nonoperating income, other332 118 101 44 56 6 41 17 
Other income and expense, net $598 $238 $201 $124 $78 $41 $76 $57 
 Year Ended December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)
Energy
Carolinas
Energy
Progress
Florida
Ohio
Indiana
Piedmont
Interest income $27 $2 $24 $4 $20 $11 $15 $19 
AFUDC equity 197 98 68 52 16 7 13 11 
Post-in-service equity returns
34 14 18 18 — 1 1 — 
Nonoperating income, other134 107 71 40 38 — 7 16 
Other income and expense, net$392 $221 $181 $114 $74 $19 $36 $46 
v3.25.0.1
Summary of Significant Accounting Policies (Other Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Duke Energy Carolinas | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Accrued compensation $ 234 $ 224
Duke Energy Florida | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Customer deposits/Collateral liabilities 164 168
Duke Energy Florida | Current Assets    
Organization And Basis Of Presentation [Line Items]    
Tax receivables 166 12
Duke Energy Ohio | Current Assets    
Organization And Basis Of Presentation [Line Items]    
Tax receivables 4 95
Duke Energy Indiana | Current Liabilities    
Organization And Basis Of Presentation [Line Items]    
Customer advances $ 100 $ 87
v3.25.0.1
Summary of Significant Accounting Policies (Schedule of Cash and Cash Equivalents) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets    
Cash and cash equivalents $ 314 $ 253
Other 84 76
Other Noncurrent Assets    
Other 20 16
Total cash, cash equivalents and restricted cash 418 345
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 6 9
Other 9 9
Other Noncurrent Assets    
Other 1 1
Total cash, cash equivalents and restricted cash 16 19
Progress Energy    
Current Assets    
Cash and cash equivalents 73 59
Other 76 67
Other Noncurrent Assets    
Other 11 9
Total cash, cash equivalents and restricted cash 160 135
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 24 18
Other 40 31
Other Noncurrent Assets    
Other 5 2
Total cash, cash equivalents and restricted cash 69 51
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 33 24
Other 35 36
Other Noncurrent Assets    
Other 7 7
Total cash, cash equivalents and restricted cash $ 75 $ 67
v3.25.0.1
Summary of Significant Accounting Policies (Inventory) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Public Utilities, Inventory [Line Items]    
Materials and supplies $ 3,387 $ 3,086
Coal 801 842
Natural gas, oil and other 321 364
Total inventory 4,509 4,292
Duke Energy Carolinas    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,150 1,075
Coal 341 364
Natural gas, oil and other 45 45
Total inventory 1,536 1,484
Progress Energy    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,649 1,465
Coal 241 231
Natural gas, oil and other 196 205
Total inventory 2,086 1,901
Duke Energy Progress    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,074 963
Coal 164 154
Natural gas, oil and other 103 110
Total inventory 1,341 1,227
Duke Energy Florida    
Public Utilities, Inventory [Line Items]    
Materials and supplies 576 502
Coal 77 77
Natural gas, oil and other 92 95
Total inventory 745 674
Duke Energy Ohio    
Public Utilities, Inventory [Line Items]    
Materials and supplies 149 139
Coal 23 28
Natural gas, oil and other 11 12
Total inventory 183 179
Duke Energy Indiana    
Public Utilities, Inventory [Line Items]    
Materials and supplies 389 361
Coal 196 219
Natural gas, oil and other 1 2
Total inventory 586 582
Piedmont    
Public Utilities, Inventory [Line Items]    
Materials and supplies 11 12
Natural gas, oil and other 67 100
Total inventory $ 78 $ 112
v3.25.0.1
Summary of Significant Accounting Policies (Property, Plant and Equipment) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.00% 2.90% 3.00%
Duke Energy Carolinas      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.10% 2.70% 2.70%
Progress Energy      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.30% 3.30% 3.20%
Duke Energy Progress      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.20% 3.10% 3.00%
Duke Energy Florida      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.50% 3.50% 3.50%
Duke Energy Ohio      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 2.90% 2.80% 2.90%
Duke Energy Indiana      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 3.60% 3.60% 3.60%
Piedmont      
Public Utility, Property, Plant and Equipment [Line Items]      
Weighted-average depreciation rate (as a percent) 2.20% 2.10% 2.10%
v3.25.0.1
Summary of Significant Accounting Policies (Other Noncurrent Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Offsetting Assets [Line Items]    
Other (including amounts related to VIEs) $ 3,509 $ 3,964
Renewable Energy Program    
Offsetting Assets [Line Items]    
Other (including amounts related to VIEs) $ 150 $ 150
v3.25.0.1
Summary of Significant Accounting Policies (Accounts Payable and Supplier Invoices Sold) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period $ 50 $ 87
Invoices confirmed during the period 156 228
Confirmed invoices paid during the period (193) (265)
Confirmed obligations outstanding at end of period 13 50
Duke Energy Carolinas    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 0 6
Invoices confirmed during the period 0 24
Confirmed invoices paid during the period 0 (30)
Confirmed obligations outstanding at end of period 0 0
Progress Energy    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 3 19
Invoices confirmed during the period 4 58
Confirmed invoices paid during the period (6) (74)
Confirmed obligations outstanding at end of period 1 3
Duke Energy Progress    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 0 8
Invoices confirmed during the period 0 22
Confirmed invoices paid during the period 0 (30)
Confirmed obligations outstanding at end of period 0 0
Duke Energy Florida    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 3 11
Invoices confirmed during the period 4 36
Confirmed invoices paid during the period (6) (44)
Confirmed obligations outstanding at end of period 1 3
Duke Energy Ohio    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 0 5
Invoices confirmed during the period 0 7
Confirmed invoices paid during the period 0 (12)
Confirmed obligations outstanding at end of period 0 0
Duke Energy Indiana    
Payables [Line Items]    
Invoices confirmed during the period   0
Confirmed invoices paid during the period   0
Piedmont    
Payables [Line Items]    
Confirmed obligations outstanding at beginning of period 47 57
Invoices confirmed during the period 152 139
Confirmed invoices paid during the period (187) (149)
Confirmed obligations outstanding at end of period $ 12 $ 47
v3.25.0.1
Summary of Significant Accounting Policies (Excise Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Organization And Basis Of Presentation [Line Items]      
Excise taxes $ 423 $ 458 $ 449
Duke Energy Carolinas      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 31 27 47
Progress Energy      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 285 322 290
Duke Energy Progress      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 9 5 25
Duke Energy Florida      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 276 317 265
Duke Energy Ohio      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 105 106 104
Duke Energy Indiana      
Organization And Basis Of Presentation [Line Items]      
Excise taxes 0 1 7
Piedmont      
Organization And Basis Of Presentation [Line Items]      
Excise taxes $ 2 $ 2 $ 1
v3.25.0.1
Dispositions (Duke Energy Discontinued Operations) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
(Loss) Income from discontinued operations, net of tax $ 10 $ (1,455) $ (1,323)
Discontinued Operations, Held-for-sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
(Loss) Income from discontinued operations, net of tax 10 (1,455) (1,323)
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
(Loss) Income from discontinued operations, net of tax 12 (1,457) (1,349)
Discontinued Operations, Held-for-sale | Other      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
(Loss) Income from discontinued operations, net of tax $ (2) $ 2 $ 26
v3.25.0.1
Dispositions (Narrative) (Details)
$ in Millions
 1 Months Ended 12 Months Ended
Sep. 08, 2021
USD ($)
Jan. 28, 2021
USD ($)
closing
Dec. 31, 2022
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Oct. 25, 2023
USD ($)
Duke Energy Indiana | Noncontrolling Interests              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Percentage sold   19.90%          
Number of closings | closing   2          
Value of sale of parent interest $ 1,030.0 $ 2,050.0 $ 1,030.0        
Ownership interest sold (as a percentage) 11.05%   8.85%     8.85%  
Proceed of purchase price for exchange in interest 50.00%            
Transaction costs $ 27.0   $ 6.0        
Sale of noncontrolling interest $ 545.0   $ 492.0        
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Noncontrolling interest balance       $ 18.0 $ 66.0    
Loss on disposal       (14.0) (1,725.0) $ (1,748.0)  
Loss on disposal of PPE       123.0 278.0    
Discontinued Operations, Disposed of by Sale | Brookfield Renewable Partners              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Consideration to be received             $ 1,100.0
Discontinued Operations, Disposed of by Sale | Commercial Renewables Disposal Groups              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Closing period             18 months
Discontinued Operations, Disposed of by Sale | Commercial Renewables Disposal Groups | Accounts Receivable              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Consideration to be received       $ 551.0      
Discontinued Operations, Disposed of by Sale | Commercial Renewables Disposal Groups | Noncurrent assets              
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]              
Consideration to be received         $ 531.0    
v3.25.0.1
Dispositions (Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Current Assets Held for Sale    
Total current assets held for sale $ 4 $ 14
Noncurrent Assets Held for Sale    
Total other noncurrent assets held for sale 89 197
Current Liabilities Associated with Assets Held for Sale    
Total current liabilities associated with assets held for sale 80 122
Noncurrent Liabilities Associated with Assets Held for Sale    
Total other noncurrent liabilities associated with assets held for sale 89 157
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups    
Current Assets Held for Sale    
Other 4 14
Total current assets held for sale 4 14
Noncurrent Assets Held for Sale    
Cost 109 247
Accumulated depreciation and amortization (24) (57)
Net property, plant and equipment 85 190
Operating lease right-of-use assets, net 4 4
Other 0 3
Total other noncurrent assets held for sale 4 7
Total Assets Held for Sale 93 211
Current Liabilities Associated with Assets Held for Sale    
Accounts payable 19 9
Taxes accrued 1 3
Current maturities of long-term debt 43 5
Unrealized losses on commodity hedges 13 68
Other 4 37
Total current liabilities associated with assets held for sale 80 122
Noncurrent Liabilities Associated with Assets Held for Sale    
Long-Term debt 0 39
Operating lease liabilities 5 5
Asset retirement obligations 5 8
Unrealized losses on commodity hedges 66 94
Other 13 11
Total other noncurrent liabilities associated with assets held for sale 89 157
Total Liabilities Associated with Assets Held for Sale $ 169 $ 279
v3.25.0.1
Dispositions (Income Statement) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Income tax benefit $ (50) $ (359) $ (503)
Income (Loss) from discontinued operations 10 (1,455) (1,323)
Add: Net (income) loss attributable to noncontrolling interest included in discontinued operations (3) 64 108
Net income (loss) from discontinued operations attributable to Duke Energy Corporation 7 (1,391) (1,215)
Discontinued Operations, Held-for-sale      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Income (Loss) from discontinued operations 10 (1,455) (1,323)
Discontinued Operations, Held-for-sale | Commercial Renewables Disposal Groups      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Operating revenues 4 330 465
Operation, maintenance and other 22 302 337
Depreciation and amortization 0 0 201
Property and other taxes 2 45 36
Other income and expenses, net 0 (8) 2
Interest expense 4 65 10
Loss on disposal 14 1,725 1,748
Loss before income taxes (38) (1,815) (1,865)
Income tax benefit (50) (358) (516)
Income (Loss) from discontinued operations 12 (1,457) (1,349)
Add: Net (income) loss attributable to noncontrolling interest included in discontinued operations (3) 64 108
Net income (loss) from discontinued operations attributable to Duke Energy Corporation $ 9 $ (1,393) $ (1,241)
v3.25.0.1
Dispositions (Cash Flow Statement) (Details) - Commercial Renewables Disposal Groups - Discontinued Operations, Held-for-sale - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Operating activities $ 7 $ 607 $ 213
Investing activities $ (13) $ 122 $ (802)
v3.25.0.1
Business Segments (Business Segment Data) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Less:      
Operation, maintenance and other 5,389 5,625 5,734
Depreciation and amortization 5,793 5,253 5,086
Property and other taxes 1,466 1,400 1,466
Impairment of assets and other charges 38 85 434
Interest expense 3,384 3,014 2,439
Income Tax Expense 590 438 300
Noncontrolling interests (87) (97) (13)
Preferred dividends 106 106 106
Less: Preferred Redemption Costs 16 0 0
Equity in (losses) earnings of unconsolidated affiliates (9) 113 113
Add: Other 687 650 414
Segment income (loss) 4,395 4,126 3,659
Net income (loss) from discontinued operations attributable to Duke Energy Corporation 7 (1,391) (1,215)
Net Income available to Duke Energy common stockholders 4,402 2,735 2,444
Income (loss) attributable to noncontrolling interest 90 33 (95)
Net income 4,614 2,874 2,455
Capital expenditures 12,263 12,622 11,419
Segment assets 186,343 176,893 178,086
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 5,194 4,767 4,078
Nonregulated electric and other 318 291 285
Regulated electric (27,787) (26,617) (25,759)
Depreciation, amortization and accretion (including amortization of nuclear fuel) 6,419 6,084 5,843
Losses on sales of other assets 26 52 22
Fuel used in electric generation and purchased power      
Less:      
Cost of sales 9,206 9,086 8,782
Cost of natural gas      
Less:      
Cost of sales 565 593 1,276
Duke Energy Indiana      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 3,040 3,399 3,922
Less:      
Cost of sales 964 1,217 1,819
Operation, maintenance and other 671 713 729
Depreciation and amortization 676 666 645
Property and other taxes 50 59 75
Impairment of assets and other charges 0 0 388
Interest expense 229 213 189
Income Tax Expense 71 110 (24)
Add: Other 62 76 36
Segment income (loss) 441 497 137
Net income 441 497 137
Capital expenditures 935 961 877
Segment assets 15,727 14,811 14,654
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 512 607 113
Depreciation, amortization and accretion (including amortization of nuclear fuel) 679 669 648
Duke Energy Indiana | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 964 1,217 1,819
Duke Energy Ohio      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 2,545 2,507 2,514
Less:      
Operation, maintenance and other 485 478 523
Depreciation and amortization 403 367 324
Property and other taxes 400 364 369
Impairment of assets and other charges 0 3 (10)
Interest expense 192 169 129
Income Tax Expense 64 63 (21)
Add: Other 20 42 20
Segment income (loss) 341 334 302
Net income 341 334 302
Capital expenditures 815 939 850
Segment assets 12,768 12,216 11,506
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 405 397 281
Regulated electric (1,905) (1,868) (1,798)
Depreciation, amortization and accretion (including amortization of nuclear fuel) 408 371 328
Duke Energy Ohio | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 538 608 657
Duke Energy Ohio | Cost of natural gas      
Less:      
Cost of sales 142 163 261
Duke Energy Carolinas      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 9,718 8,288 7,857
Less:      
Cost of sales 3,251 2,524 2,015
Operation, maintenance and other 1,740 1,774 1,892
Depreciation and amortization 1,768 1,593 1,526
Property and other taxes 346 320 340
Impairment of assets and other charges 31 44 26
Interest expense 722 686 557
Income Tax Expense 226 141 126
Add: Other 249 264 225
Segment income (loss) 1,883 1,470 1,600
Net income 1,883 1,470 1,600
Capital expenditures 3,966 3,733 3,304
Segment assets 55,005 52,110 50,346
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 2,109 1,611 1,726
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,033 1,845 1,787
Losses on sales of other assets 2 26 4
Duke Energy Carolinas | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 3,251 2,524 2,015
Progress Energy      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 13,633 13,544 13,125
Less:      
Cost of sales 4,755 5,026 5,078
Operation, maintenance and other 2,463 2,636 2,458
Depreciation and amortization 2,393 2,151 2,142
Property and other taxes 617 644 607
Impairment of assets and other charges 6 28 12
Interest expense 1,064 954 844
Income Tax Expense 426 377 348
Add: Other 262 228 192
Segment income (loss) 2,171 1,956 1,828
Net income 2,171 1,956 1,828
Capital expenditures 5,252 4,917 4,317
Segment assets 71,636 67,094 66,079
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 2,597 2,333 2,176
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,761 2,721 2,405
Losses on sales of other assets 27 27 11
Progress Energy | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 4,755 5,026 5,078
Duke Energy Progress      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 7,017 6,488 6,753
Less:      
Cost of sales 2,409 2,203 2,492
Operation, maintenance and other 1,388 1,379 1,475
Depreciation and amortization 1,336 1,266 1,187
Property and other taxes 177 164 190
Impairment of assets and other charges 6 29 7
Interest expense 493 427 354
Income Tax Expense 189 149 158
Add: Other 145 127 118
Segment income (loss) 1,164 998 1,008
Net income 1,164 998 1,008
Capital expenditures 2,803 2,387 2,070
Segment assets 39,493 36,924 36,752
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 1,353 1,147 1,166
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,520 1,460 1,371
Duke Energy Progress | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 2,409 2,203 2,492
Duke Energy Florida      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 6,595 7,036 6,353
Less:      
Cost of sales 2,346 2,823 2,586
Operation, maintenance and other 1,055 1,239 967
Depreciation and amortization 1,057 885 955
Property and other taxes 440 480 421
Impairment of assets and other charges 0 (1) 4
Interest expense 457 413 362
Income Tax Expense 268 261 225
Add: Other 89 80 76
Segment income (loss) 1,061 1,016 909
Net income 1,061 1,016 909
Capital expenditures 2,449 2,529 2,247
Segment assets 28,569 26,601 25,554
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 1,329 1,277 1,134
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,239 1,260 1,032
Duke Energy Florida | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 2,346 2,823 2,586
Piedmont      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 1,729 1,628 2,124
Less:      
Cost of sales 423 430 1,015
Operation, maintenance and other 359 344 368
Depreciation and amortization 261 237 222
Property and other taxes 55 59 57
Impairment of assets and other charges 0 (4) 18
Interest expense 185 165 140
Income Tax Expense 95 84 39
Equity in (losses) earnings of unconsolidated affiliates 8 9 8
Add: Other 54 57 50
Segment income (loss) 413 379 323
Net income 413 379 323
Capital expenditures 1,025 1,036 862
Segment assets 11,799 11,067 10,335
Segment Reporting Information Assets [Abstract]      
Total income (loss) from continuing operations before income taxes 508 463 362
Nonregulated electric and other 27 25 24
Depreciation, amortization and accretion (including amortization of nuclear fuel) 264 239 225
Piedmont | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 423 430 1,015
Other      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues     30
Other      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 38 37  
Corporate And Eliminations      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues     122
Less:      
Capital expenditures     1,139
Segment assets     9,571
Eliminations      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues (283) (261) (218)
Less:      
Operation, maintenance and other (195) (175) (129)
Depreciation and amortization (28) (28) (27)
Property and other taxes 0 0 0
Impairment of assets and other charges 0 0 0
Interest expense (123) (150) (86)
Income Tax Expense 0 0 0
Noncontrolling interests 0 0 0
Add: Other (142) (170) (105)
Segment income (loss)     (1)
Eliminations | Fuel used in electric generation and purchased power      
Less:      
Cost of sales (79) (78) (80)
Eliminations | Duke Energy Indiana      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 0 0 0
Less:      
Operation, maintenance and other 5 18 10
Depreciation and amortization 0 0 0
Property and other taxes 0 0 0
Impairment of assets and other charges   1 1
Interest expense 1 0 0
Income Tax Expense (1) (5) (4)
Add: Other 0 (1) (2)
Segment income (loss) (5) (15) (9)
Capital expenditures 0 0 0
Segment assets 1 (155) (210)
Eliminations | Duke Energy Indiana | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Eliminations | Duke Energy Ohio      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 0 0 0
Less:      
Operation, maintenance and other 10 9 8
Depreciation and amortization (1) 0 0
Property and other taxes 0 0 0
Impairment of assets and other charges   1 1
Interest expense (2) 0 0
Income Tax Expense (1) (2) (2)
Add: Other 0 (1) (1)
Segment income (loss) (6) (9) (8)
Capital expenditures 0 0 0
Segment assets 51 (108) (162)
Eliminations | Duke Energy Ohio | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Eliminations | Duke Energy Ohio | Cost of natural gas      
Less:      
Cost of sales 0 0 0
Eliminations | Duke Energy Carolinas      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 0 0 0
Less:      
Operation, maintenance and other 30 85 47
Depreciation and amortization 0 0 0
Property and other taxes 0 0 0
Impairment of assets and other charges 0 0 44
Interest expense 0 0 0
Income Tax Expense (7) (21) (22)
Add: Other (3) (3) (3)
Segment income (loss) (26) (67) (72)
Capital expenditures 0 0 0
Segment assets 223 202 390
Eliminations | Duke Energy Carolinas | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Eliminations | Progress Energy      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 21 20 19
Less:      
Operation, maintenance and other 50 82 63
Depreciation and amortization 0 0 0
Property and other taxes 0 0 (4)
Impairment of assets and other charges 0 0 7
Interest expense 115 114 128
Income Tax Expense (39) (49) (48)
Add: Other 38 18 (13)
Segment income (loss) (67) (109) (140)
Capital expenditures 0 0 0
Segment assets 3,685 3,912 3,896
Eliminations | Progress Energy | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Eliminations | Duke Energy Progress      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 0 0 0
Less:      
Operation, maintenance and other 18 37 28
Depreciation and amortization 0 0 0
Property and other taxes 0 0 0
Impairment of assets and other charges 0 0 2
Interest expense 1 0 0
Income Tax Expense (5) (9) (7)
Add: Other 7 (1) (1)
Segment income (loss) (7) (29) (24)
Capital expenditures 0 0 0
Segment assets 91 104 121
Eliminations | Duke Energy Progress | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Eliminations | Duke Energy Florida      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 0 0 0
Less:      
Operation, maintenance and other 12 27 19
Depreciation and amortization 0 0 0
Property and other taxes 0 0 0
Impairment of assets and other charges   0 4
Interest expense 0 0 0
Income Tax Expense (3) (7) (6)
Add: Other 3 (2) (10)
Segment income (loss) (6) (22) (27)
Capital expenditures 0 0 0
Segment assets 20 239 2
Eliminations | Duke Energy Florida | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Eliminations | Piedmont      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 0 0 0
Less:      
Operation, maintenance and other 4 8 8
Depreciation and amortization 0 0 0
Property and other taxes 0 0 0
Impairment of assets and other charges   0 18
Interest expense 0 0 0
Income Tax Expense 1 0 (4)
Equity in (losses) earnings of unconsolidated affiliates 8 9 8
Add: Other 0 (2) 3
Segment income (loss) 3 (1) (11)
Capital expenditures 0 0 0
Segment assets 92 89 92
Eliminations | Piedmont | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Total Reportable Segments      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 30,319 29,023 28,738
Total Reportable Segments | Operating Segments      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 30,483 29,187 28,864
Less:      
Operation, maintenance and other 5,663 5,764 5,886
Depreciation and amortization 5,528 5,033 4,877
Property and other taxes 1,454 1,449 1,453
Impairment of assets and other charges 37 71 362
Interest expense 2,262 2,067 1,747
Income Tax Expense 919 858 544
Noncontrolling interests (87) (97) (13)
Preferred dividends 0 0 0
Less: Preferred Redemption Costs 0    
Equity in (losses) earnings of unconsolidated affiliates (59) 47 27
Add: Other 600 604 526
Segment income (loss) 5,224 4,742 4,397
Capital expenditures 12,002 11,627 10,280
Segment assets 182,141 172,798 168,515
Total Reportable Segments | Operating Segments | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 9,285 9,164 8,862
Total Reportable Segments | Operating Segments | Cost of natural gas      
Less:      
Cost of sales 565 593 1,276
Total Reportable Segments | Operating Segments | Duke Energy Ohio      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 2,545 2,507 2,514
Less:      
Operation, maintenance and other 475 469 515
Depreciation and amortization 404 367 324
Property and other taxes 400 364 369
Impairment of assets and other charges   2 (11)
Interest expense 194 169 129
Income Tax Expense 65 65 (19)
Add: Other 20 43 21
Segment income (loss) 347 343 310
Capital expenditures 815 939 850
Segment assets 12,717 12,324 11,668
Total Reportable Segments | Operating Segments | Duke Energy Ohio | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 538 608 657
Total Reportable Segments | Operating Segments | Duke Energy Ohio | Cost of natural gas      
Less:      
Cost of sales 142 163 261
Total Reportable Segments | Eliminations      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 164 164 126
Electric Utilities and Infrastructure      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 28,020 26,846 25,990
Less:      
Equity in (losses) earnings of unconsolidated affiliates (11) 7 7
Electric Utilities and Infrastructure | Litigation | Duke Energy Carolinas      
Less:      
Impairment of assets and other charges 42 35  
Electric Utilities and Infrastructure | Litigation | Duke Energy Progress      
Less:      
Impairment of assets and other charges   33  
Electric Utilities and Infrastructure | Operating Segments      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 28,093 26,921 26,024
Less:      
Operation, maintenance and other 5,185 5,309 5,354
Depreciation and amortization 5,128 4,684 4,550
Property and other taxes 1,305 1,320 1,315
Impairment of assets and other charges 37 75 374
Interest expense 2,006 1,850 1,565
Income Tax Expense 820 742 536
Noncontrolling interests (88) (99) (13)
Equity in (losses) earnings of unconsolidated affiliates (11) 7 7
Add: Other 542 538 467
Segment income (loss) 4,770 4,223 3,929
Capital expenditures 10,689 10,135 8,985
Segment assets 164,010 155,449 152,104
Electric Utilities and Infrastructure | Operating Segments | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 9,285 9,164 8,862
Electric Utilities and Infrastructure | Operating Segments | Cost of natural gas      
Less:      
Cost of sales 0 0 0
Electric Utilities and Infrastructure | Operating Segments | Regulated and Unregulated Operating Revenue      
Less:      
Segment income (loss) 17    
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Indiana      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 3,040 3,399 3,922
Less:      
Operation, maintenance and other 666 695 719
Depreciation and amortization 676 666 645
Property and other taxes 50 59 75
Impairment of assets and other charges   (1) 387
Interest expense 228 213 189
Income Tax Expense 72 115 (20)
Equity in (losses) earnings of unconsolidated affiliates 15    
Add: Other 62 77 38
Segment income (loss) 446 512 146
Income (loss) attributable to noncontrolling interest 4   34
Capital expenditures 935 961 877
Segment assets 15,726 14,966 14,864
Segment Reporting Information Assets [Abstract]      
Regulated electric     46
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Indiana | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 964 1,217 1,819
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Indiana | Nonoperating Income (Expense)      
Less:      
Equity in (losses) earnings of unconsolidated affiliates 4    
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Indiana | Regulated and Unregulated Operating Revenue      
Less:      
Segment income (loss) 29    
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Ohio      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 1,905 1,868 1,798
Less:      
Operation, maintenance and other 366 351 345
Depreciation and amortization 273 257 221
Property and other taxes 306 294 288
Impairment of assets and other charges   2 1
Interest expense 126 116 86
Income Tax Expense 47 42 24
Add: Other 15 29 13
Segment income (loss) 264 227 189
Capital expenditures 535 520 488
Segment assets 8,211 7,978 7,504
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Ohio | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 538 608 657
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Ohio | Cost of natural gas      
Less:      
Cost of sales 0 0 0
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 9,718 8,288 7,857
Less:      
Operation, maintenance and other 1,710 1,689 1,845
Depreciation and amortization 1,768 1,593 1,526
Property and other taxes 346 320 340
Impairment of assets and other charges 31 44 (18)
Interest expense 722 686 557
Income Tax Expense 233 162 148
Add: Other 252 267 228
Segment income (loss) 1,909 1,537 1,672
Capital expenditures 3,966 3,733 3,304
Segment assets 54,782 51,908 49,956
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Carolinas | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 3,251 2,524 2,015
Electric Utilities and Infrastructure | Operating Segments | Progress Energy      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 13,612 13,524 13,106
Less:      
Operation, maintenance and other 2,413 2,554 2,395
Depreciation and amortization 2,393 2,151 2,142
Property and other taxes 617 644 611
Impairment of assets and other charges 6 28 5
Interest expense 949 840 716
Income Tax Expense 465 426 396
Add: Other 224 210 205
Segment income (loss) 2,238 2,065 1,968
Capital expenditures 5,252 4,917 4,317
Segment assets 67,951 63,182 62,183
Electric Utilities and Infrastructure | Operating Segments | Progress Energy | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 4,755 5,026 5,078
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 7,017 6,488 6,753
Less:      
Operation, maintenance and other 1,370 1,342 1,447
Depreciation and amortization 1,336 1,266 1,187
Property and other taxes 177 164 190
Impairment of assets and other charges 6 29 5
Interest expense 492 427 354
Income Tax Expense 194 158 165
Add: Other 138 128 119
Segment income (loss) 1,171 1,027 1,032
Capital expenditures 2,803 2,387 2,070
Segment assets 39,402 36,820 36,631
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Progress | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 2,409 2,203 2,492
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Florida      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 6,595 7,036 6,353
Less:      
Operation, maintenance and other 1,043 1,212 948
Depreciation and amortization 1,057 885 955
Property and other taxes 440 480 421
Impairment of assets and other charges   (1) 0
Interest expense 457 413 362
Income Tax Expense 271 268 231
Add: Other 86 82 86
Segment income (loss) 1,067 1,038 936
Capital expenditures 2,449 2,529 2,247
Segment assets 28,549 26,362 25,552
Electric Utilities and Infrastructure | Operating Segments | Duke Energy Florida | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 2,346 2,823 2,586
Electric Utilities and Infrastructure | Operating Segments | Litigation | Nonoperating Income (Expense)      
Less:      
Segment income (loss) (11)    
Electric Utilities and Infrastructure | Operating Segments | Litigation | Duke Energy Indiana      
Less:      
Impairment of assets and other charges     386
Electric Utilities and Infrastructure | Operating Segments | Litigation | Duke Energy Carolinas | Operation, Maintenance and Other      
Less:      
Operation, maintenance and other 2    
Add: Other 8    
Electric Utilities and Infrastructure | Operating Segments | Litigation | Duke Energy Progress | Operation, Maintenance and Other      
Less:      
Add: Other   8  
Electric Utilities and Infrastructure | Eliminations      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 73 75 34
Gas Utilities and Infrastructure      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 2,299 2,177 2,748
Less:      
Equity in (losses) earnings of unconsolidated affiliates (48) 40 21
Gas Utilities and Infrastructure | Customer Billing Adjustments      
Less:      
Operation, maintenance and other 1    
Add: Other 3    
Gas Utilities and Infrastructure | Impairments For Certain Renewable Natural Gas Investments      
Less:      
Equity in (losses) earnings of unconsolidated affiliates 54    
Gas Utilities and Infrastructure | Operating Segments      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 2,390 2,266 2,840
Less:      
Operation, maintenance and other 478 455 532
Depreciation and amortization 400 349 327
Property and other taxes 149 129 138
Impairment of assets and other charges 0 (4) (12)
Interest expense 256 217 182
Income Tax Expense 99 116 8
Noncontrolling interests 1 2 0
Equity in (losses) earnings of unconsolidated affiliates (48) 40 20
Add: Other 58 66 59
Segment income (loss) 454 519 468
Capital expenditures 1,313 1,492 1,295
Segment assets 18,131 17,349 16,411
Gas Utilities and Infrastructure | Operating Segments | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Gas Utilities and Infrastructure | Operating Segments | Cost of natural gas      
Less:      
Cost of sales 565 593 1,276
Gas Utilities and Infrastructure | Operating Segments | Duke Energy Ohio      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 640 639 716
Less:      
Operation, maintenance and other 109 118 170
Depreciation and amortization 131 110 103
Property and other taxes 94 70 81
Impairment of assets and other charges   0 (12)
Interest expense 68 53 43
Income Tax Expense 18 23 (43)
Add: Other 5 14 8
Segment income (loss) 83 116 121
Capital expenditures 280 419 362
Segment assets 4,506 4,346 4,164
Gas Utilities and Infrastructure | Operating Segments | Duke Energy Ohio | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Gas Utilities and Infrastructure | Operating Segments | Duke Energy Ohio | Cost of natural gas      
Less:      
Cost of sales 142 163 261
Gas Utilities and Infrastructure | Operating Segments | Piedmont      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 1,729 1,628 2,124
Less:      
Operation, maintenance and other 355 336 360
Depreciation and amortization 261 237 222
Property and other taxes 55 59 57
Impairment of assets and other charges   (4) 0
Interest expense 185 165 140
Income Tax Expense 94 84 43
Equity in (losses) earnings of unconsolidated affiliates 0 0 0
Add: Other 54 59 47
Segment income (loss) 410 380 334
Capital expenditures 1,025 1,036 862
Segment assets 11,707 10,978 10,243
Gas Utilities and Infrastructure | Operating Segments | Piedmont | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 423 430 1,015
Gas Utilities and Infrastructure | Eliminations      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 91 89 92
Other      
Less:      
Operation, maintenance and other     71
Impairment of assets and other charges   14  
Less: Preferred Redemption Costs 16    
Other | Operation, Maintenance and Other      
Less:      
Add: Other   110  
Other | Business Transformation      
Segment Reporting Information Assets [Abstract]      
Losses on sales of other assets     7
Other | Litigation      
Less:      
Operation, maintenance and other     25
Other | Hurricane Helene      
Less:      
Operation, maintenance and other 23    
Other | Operating Segments      
Less:      
Impairment of assets and other charges     72
Other | Other      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues 157 134  
Other | Corporate And Eliminations      
Less:      
Operation, maintenance and other (79) 36 (23)
Depreciation and amortization 293 248 236
Property and other taxes 12 (49) 13
Impairment of assets and other charges 1 14 72
Interest expense 1,245 1,097 778
Income Tax Expense (329) (420) (244)
Noncontrolling interests 0 0 0
Preferred dividends 106 106 106
Less: Preferred Redemption Costs 16    
Equity in (losses) earnings of unconsolidated affiliates 50 66 86
Add: Other 229 216 (7)
Segment income (loss) (829) (616) (737)
Capital expenditures 261 995  
Segment assets 4,202 4,095  
Other | Corporate And Eliminations | Fuel used in electric generation and purchased power      
Less:      
Cost of sales 0 0 0
Other | Corporate And Eliminations | Cost of natural gas      
Less:      
Cost of sales 0 0 0
Other | Eliminations      
Segment Reporting Information, Profit (Loss) [Abstract]      
Operating Revenues $ 119 $ 97 $ 92
v3.25.0.1
Business Segments (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
reportable_segment
segment
Segment
Dec. 31, 2023
USD ($)
asset
Dec. 31, 2022
USD ($)
Segment Reporting Information [Line Items]      
Number of reportable segments | Segment 2    
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Duke Energy Progress      
Segment Reporting Information [Line Items]      
Number of reportable segments | reportable_segment 1    
Operating Revenues $ 7,017 6,488 6,753
Duke Energy Carolinas      
Segment Reporting Information [Line Items]      
Number of reportable segments | reportable_segment 1    
Operating Revenues $ 9,718 8,288 7,857
Progress Energy      
Segment Reporting Information [Line Items]      
Number of reportable segments | reportable_segment 1    
Operating Revenues $ 13,633 13,544 13,125
Duke Energy Florida      
Segment Reporting Information [Line Items]      
Number of reportable segments | reportable_segment 1    
Operating Revenues $ 6,595 7,036 6,353
Duke Energy Ohio      
Segment Reporting Information [Line Items]      
Number of reportable segments | segment 2    
Operating Revenues $ 2,545 $ 2,507 2,514
Duke Energy Indiana      
Segment Reporting Information [Line Items]      
Number of reportable segments | asset   1  
Operating Revenues $ 3,040 $ 3,399 3,922
Piedmont      
Segment Reporting Information [Line Items]      
Number of reportable segments | reportable_segment 1    
Operating Revenues $ 1,729 $ 1,628 $ 2,124
v3.25.0.1
Business Segments (Schedule of Revenue, By Products and Services) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Segment Reporting Information [Line Items]      
Operating Revenues $ 30,357 $ 29,060 $ 28,768
Total Reportable Segments      
Segment Reporting Information [Line Items]      
Operating Revenues 30,319 29,023 28,738
Electric Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 28,020 26,846 25,990
Gas Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 2,299 2,177 2,748
Operating Segments | Total Reportable Segments      
Segment Reporting Information [Line Items]      
Operating Revenues 30,483 29,187 28,864
Operating Segments | Electric Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 28,093 26,921 26,024
Operating Segments | Gas Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 2,390 2,266 2,840
Operating Segments | Retail Electric      
Segment Reporting Information [Line Items]      
Operating Revenues 24,593 23,484 22,036
Operating Segments | Retail Electric | Electric Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 24,593 23,484 22,036
Operating Segments | Wholesale Electric      
Segment Reporting Information [Line Items]      
Operating Revenues 2,219 2,193 2,882
Operating Segments | Wholesale Electric | Electric Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 2,219 2,193 2,882
Operating Segments | Retail Natural Gas      
Segment Reporting Information [Line Items]      
Operating Revenues 2,320 2,199 2,535
Operating Segments | Retail Natural Gas | Gas Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 2,320 2,199 2,535
Operating Segments | Other      
Segment Reporting Information [Line Items]      
Operating Revenues 1,351 1,311 1,411
Operating Segments | Other | Electric Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues 1,281 1,244 1,106
Operating Segments | Other | Gas Utilities and Infrastructure      
Segment Reporting Information [Line Items]      
Operating Revenues $ 70 $ 67 $ 305
v3.25.0.1
Regulatory Matters (Schedule of Regulatory Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets $ 17,010 $ 17,266
Less: Current portion 2,756 3,648
Total noncurrent regulatory assets 14,254 13,618
Total regulatory liabilities 16,119 15,408
Less: Current portion 1,425 1,369
Total noncurrent regulatory liabilities 14,694 14,039
Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 5,397 5,901
COR regulatory liability    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 5,436 5,497
AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 2,289 1,673
Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 583 443
Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 232 266
Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 223 137
DSM/EE    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 58 89
DOE Settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities   32
Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 984 1,133
Renewable energy credits    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 241 237
Deferred Nuclear PTC    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 676  
AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 3,384 3,214
AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 952 1,179
Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 588 2,486
Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 2,524 2,389
Storm cost securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,023 890
Nuclear asset securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 771 830
Debt fair value adjustment    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 719 774
Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 352 749
Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,951 407
COR regulatory asset    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 646 371
PISCC and deferred operating expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 331 357
Retired generation facilities    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 281 275
Deferred asset – Lee and Harris COLA    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 215 252
Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 257 260
Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 204 243
Incremental COVID-19 expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 231 237
Vacation accrual    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 228 228
Grid Deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 255 210
Demand side management (DSM) / Energy efficiency (EE)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 199 201
CEP deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 195 193
NCEMPA deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 179 172
Derivatives – natural gas supply contracts    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 94 147
Deferred pipeline integrity costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 129 133
Nuclear deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 134 131
COR settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 110 115
Decoupling    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 162 115
Deferred coal ash handling system costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 77 86
Coal plant securitization    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 102 8
Qualifying facility contract buyouts    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 62 68
Network Integration Transmission Services deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 31 31
Transmission expansion obligation    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 31 30
East Bend deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 24 28
Propane caverns    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 24 26
Tennessee ARM Deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 33 20
Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 512 411
Progress Energy    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 8,265 8,091
Less: Current portion 1,647 1,661
Total noncurrent regulatory assets 6,618 6,430
Total regulatory liabilities 5,780 5,501
Less: Current portion 522 418
Total noncurrent regulatory liabilities 5,258 5,083
Progress Energy | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 1,884 2,008
Progress Energy | COR regulatory liability    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 2,984 2,805
Progress Energy | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 281 208
Progress Energy | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 12  
Progress Energy | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 94 14
Progress Energy | DOE Settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities   32
Progress Energy | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 291 296
Progress Energy | Renewable energy credits    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 139 138
Progress Energy | Deferred Nuclear PTC    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 95  
Progress Energy | AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,335 1,230
Progress Energy | AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 905 1,127
Progress Energy | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 282 1,173
Progress Energy | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 828 757
Progress Energy | Storm cost securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 822 682
Progress Energy | Nuclear asset securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 771 830
Progress Energy | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 126 323
Progress Energy | Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,238 298
Progress Energy | COR regulatory asset    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 571 337
Progress Energy | PISCC and deferred operating expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 37 42
Progress Energy | Retired generation facilities    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 202 220
Progress Energy | Deferred asset – Lee and Harris COLA    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 10 15
Progress Energy | Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 116 125
Progress Energy | Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 70 92
Progress Energy | Incremental COVID-19 expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 89 80
Progress Energy | Vacation accrual    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 43 43
Progress Energy | Grid Deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 54 51
Progress Energy | Demand side management (DSM) / Energy efficiency (EE)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 199 191
Progress Energy | NCEMPA deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 179 172
Progress Energy | Nuclear deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 53 42
Progress Energy | COR settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 29 30
Progress Energy | Decoupling    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 32 15
Progress Energy | Deferred coal ash handling system costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 17 21
Progress Energy | Coal plant securitization    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 39 8
Progress Energy | Qualifying facility contract buyouts    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 62 68
Progress Energy | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 156 119
Duke Energy Carolinas    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 4,884 5,480
Less: Current portion 685 1,564
Total noncurrent regulatory assets 4,199 3,916
Total regulatory liabilities 7,210 6,577
Less: Current portion 618 587
Total noncurrent regulatory liabilities 6,592 5,990
Duke Energy Carolinas | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 1,951 2,200
Duke Energy Carolinas | COR regulatory liability    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 1,479 1,641
Duke Energy Carolinas | AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 2,289 1,673
Duke Energy Carolinas | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 199 158
Duke Energy Carolinas | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 35 106
Duke Energy Carolinas | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 108 85
Duke Energy Carolinas | DSM/EE    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 53 87
Duke Energy Carolinas | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 413 528
Duke Energy Carolinas | Renewable energy credits    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 102 99
Duke Energy Carolinas | Deferred Nuclear PTC    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 581  
Duke Energy Carolinas | AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,481 1,559
Duke Energy Carolinas | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 298 1,293
Duke Energy Carolinas | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 668 671
Duke Energy Carolinas | Storm cost securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 201 208
Duke Energy Carolinas | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 202 405
Duke Energy Carolinas | Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 691 97
Duke Energy Carolinas | PISCC and deferred operating expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 42 48
Duke Energy Carolinas | Retired generation facilities    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 54 26
Duke Energy Carolinas | Deferred asset – Lee and Harris COLA    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 205 237
Duke Energy Carolinas | Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 54 58
Duke Energy Carolinas | Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 114 125
Duke Energy Carolinas | Incremental COVID-19 expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 137 152
Duke Energy Carolinas | Vacation accrual    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 86 87
Duke Energy Carolinas | Grid Deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 201 159
Duke Energy Carolinas | Nuclear deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 81 89
Duke Energy Carolinas | COR settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 81 85
Duke Energy Carolinas | Decoupling    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 24  
Duke Energy Carolinas | Deferred coal ash handling system costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 60 65
Duke Energy Carolinas | Coal plant securitization    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 63  
Duke Energy Carolinas | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 141 116
Duke Energy Progress    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 5,181 5,488
Less: Current portion 626 942
Total noncurrent regulatory assets 4,555 4,546
Total regulatory liabilities 4,918 4,675
Less: Current portion 348 300
Total noncurrent regulatory liabilities 4,570 4,375
Duke Energy Progress | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 1,320 1,420
Duke Energy Progress | COR regulatory liability    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 2,984 2,805
Duke Energy Progress | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 151 87
Duke Energy Progress | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 12  
Duke Energy Progress | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 10 14
Duke Energy Progress | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 207 211
Duke Energy Progress | Renewable energy credits    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 139 138
Duke Energy Progress | Deferred Nuclear PTC    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 95  
Duke Energy Progress | AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,322 1,218
Duke Energy Progress | AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 900 1,110
Duke Energy Progress | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 277 579
Duke Energy Progress | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 439 408
Duke Energy Progress | Storm cost securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 822 682
Duke Energy Progress | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 85 260
Duke Energy Progress | Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 276 228
Duke Energy Progress | PISCC and deferred operating expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 37 42
Duke Energy Progress | Retired generation facilities    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 108 126
Duke Energy Progress | Deferred asset – Lee and Harris COLA    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 10 15
Duke Energy Progress | Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 45 49
Duke Energy Progress | Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 54 68
Duke Energy Progress | Incremental COVID-19 expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 89 80
Duke Energy Progress | Vacation accrual    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 43 43
Duke Energy Progress | Grid Deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 54 51
Duke Energy Progress | Demand side management (DSM) / Energy efficiency (EE)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 188 182
Duke Energy Progress | NCEMPA deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 179 172
Duke Energy Progress | Nuclear deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 53 42
Duke Energy Progress | COR settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 29 30
Duke Energy Progress | Decoupling    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 32 15
Duke Energy Progress | Deferred coal ash handling system costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 17 21
Duke Energy Progress | Coal plant securitization    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 39 8
Duke Energy Progress | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 83 59
Duke Energy Florida    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 3,086 2,603
Less: Current portion 1,022 720
Total noncurrent regulatory assets 2,064 1,883
Total regulatory liabilities 862 826
Less: Current portion 174 118
Total noncurrent regulatory liabilities 688 708
Duke Energy Florida | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 564 588
Duke Energy Florida | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 130 121
Duke Energy Florida | DOE Settlement    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 84 32
Duke Energy Florida | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 84 85
Duke Energy Florida | AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 13 12
Duke Energy Florida | AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 5 17
Duke Energy Florida | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 5 594
Duke Energy Florida | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 389 349
Duke Energy Florida | Nuclear asset securitized balance, net    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 771 830
Duke Energy Florida | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 41 63
Duke Energy Florida | Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 962 70
Duke Energy Florida | COR regulatory asset    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 571 337
Duke Energy Florida | Retired generation facilities    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 94 94
Duke Energy Florida | Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 71 76
Duke Energy Florida | Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 16 24
Duke Energy Florida | Qualifying facility contract buyouts    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 62 68
Duke Energy Florida | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 86 69
Duke Energy Ohio    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 793 749
Less: Current portion 88 73
Total noncurrent regulatory assets 705 676
Total regulatory liabilities 499 553
Less: Current portion 34 56
Total noncurrent regulatory liabilities 465 497
Duke Energy Ohio | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 432 466
Duke Energy Ohio | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 14 17
Duke Energy Ohio | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities   15
Duke Energy Ohio | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 53 55
Duke Energy Ohio | AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 14 17
Duke Energy Ohio | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 8 20
Duke Energy Ohio | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 131 123
Duke Energy Ohio | Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 5 12
Duke Energy Ohio | COR regulatory asset    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 75 34
Duke Energy Ohio | PISCC and deferred operating expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 15 15
Duke Energy Ohio | Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 44 49
Duke Energy Ohio | Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 8 13
Duke Energy Ohio | Incremental COVID-19 expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets   25
Duke Energy Ohio | CEP deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 195 193
Duke Energy Ohio | Deferred pipeline integrity costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 28 30
Duke Energy Ohio | Deferred coal ash handling system costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 29  
Duke Energy Ohio | Network Integration Transmission Services deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 31 31
Duke Energy Ohio | Transmission expansion obligation    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 31 30
Duke Energy Ohio | East Bend deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 24 28
Duke Energy Ohio | Propane caverns    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 24 26
Duke Energy Ohio | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 131 103
Duke Energy Indiana    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 1,153 996
Less: Current portion 113 102
Total noncurrent regulatory assets 1,040 894
Total regulatory liabilities 1,587 1,668
Less: Current portion 183 209
Total noncurrent regulatory liabilities 1,404 1,459
Duke Energy Indiana | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 725 794
Duke Energy Indiana | COR regulatory liability    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 434 496
Duke Energy Indiana | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 103 77
Duke Energy Indiana | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 139 109
Duke Energy Indiana | Deferred fuel and purchased power    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 21 23
Duke Energy Indiana | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 165 169
Duke Energy Indiana | AROs – coal ash    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 554 408
Duke Energy Indiana | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 212 208
Duke Energy Indiana | Hedge costs deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 23 19
Duke Energy Indiana | Storm cost deferrals    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 17 11
Duke Energy Indiana | PISCC and deferred operating expenses    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 237 241
Duke Energy Indiana | Retired generation facilities    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 25 29
Duke Energy Indiana | Customer connect project    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 19 19
Duke Energy Indiana | Advanced metering infrastructure (AMI)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 12 13
Duke Energy Indiana | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 54 48
Piedmont    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 579 571
Less: Current portion 158 161
Total noncurrent regulatory assets 421 410
Total regulatory liabilities 1,024 1,086
Less: Current portion 68 98
Total noncurrent regulatory liabilities 956 988
Piedmont | Net regulatory liability related to income taxes    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 405 433
Piedmont | COR regulatory liability    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 539 555
Piedmont | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory liabilities 80 98
Piedmont | AROs – nuclear and other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 29 26
Piedmont | Accrued pension and OPEB    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 144 129
Piedmont | Vacation accrual    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 14 13
Piedmont | Demand side management (DSM) / Energy efficiency (EE)    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 24 9
Piedmont | Derivatives – natural gas supply contracts    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 94 147
Piedmont | Deferred pipeline integrity costs    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 101 103
Piedmont | Decoupling    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 77 75
Piedmont | Tennessee ARM Deferral    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 33 20
Piedmont | Other    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets 49 $ 49
Piedmont | Pipeline Integrity Management – Transmission/Distribution    
Regulatory Assets Liabilities [Line Items]    
Total regulatory assets $ 14  
v3.25.0.1
Regulatory Matters (Duke Energy Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Jun. 07, 2021
Jun. 06, 2021
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Public Utilities, General Disclosures [Line Items]            
Capital expenditures       $ 12,263 $ 12,622 $ 11,419
Operation, maintenance and other       5,389 5,625 5,734
Regulatory assets       17,010 17,266  
Other Noncurrent Assets: Regulatory assets       $ 14,254 13,618  
Nuclear Regulatory Commission            
Public Utilities, General Disclosures [Line Items]            
Operating license extension (in years)       20 years    
Hurricanes Helene, Debby and Milton            
Public Utilities, General Disclosures [Line Items]            
Estimated storm restoration costs       $ 2,600    
Hurricanes Helene, Debby and Milton | Forecast            
Public Utilities, General Disclosures [Line Items]            
Estimated storm restoration costs     $ 200      
Hurricanes Helene, Debby and Milton | Minimum            
Public Utilities, General Disclosures [Line Items]            
Estimated storm restoration costs       $ 2,800    
Duke Energy Ohio            
Public Utilities, General Disclosures [Line Items]            
Limit of total capital (as a percent)       30.00%    
Capital expenditures       $ 815 939 850
Operation, maintenance and other       485 478 523
Regulatory assets       793 749  
Other Noncurrent Assets: Regulatory assets       $ 705 676  
Duke Energy Kentucky            
Public Utilities, General Disclosures [Line Items]            
Required minimum equity capital structure (as a percent)       35.00%    
Duke Energy Carolinas and Duke Energy Progress | Natural Disasters and Other Casualty Events            
Public Utilities, General Disclosures [Line Items]            
Other Noncurrent Assets: Regulatory assets       $ 802 87  
Duke Energy Carolinas and Duke Energy Progress | Natural Disasters and Other Casualty Events | Minimum            
Public Utilities, General Disclosures [Line Items]            
Storm costs incurred       95    
Capital expenditures       8    
Duke Energy Carolinas and Duke Energy Progress | Hurricanes Helene, Debby and Milton | Minimum            
Public Utilities, General Disclosures [Line Items]            
Storm costs incurred       860    
Capital expenditures       548    
Duke Energy Carolinas            
Public Utilities, General Disclosures [Line Items]            
Capital expenditures       3,966 3,733 3,304
Operation, maintenance and other       1,740 1,774 1,892
Regulatory assets       4,884 5,480  
Other Noncurrent Assets: Regulatory assets       4,199 3,916  
Duke Energy Carolinas | Oconee Nuclear Station Subsequent License Renewal | Nuclear Regulatory Commission | Oconee            
Public Utilities, General Disclosures [Line Items]            
Operating license extension (in years) 20 years          
Operating license (in years) 80 years 60 years        
Duke Energy Carolinas | Natural Disasters and Other Casualty Events            
Public Utilities, General Disclosures [Line Items]            
Other Noncurrent Assets: Regulatory assets       34 32  
Duke Energy Carolinas | Natural Disasters and Other Casualty Events | Hurricanes Helene, Debby and Milton | NCUC            
Public Utilities, General Disclosures [Line Items]            
Storm reserves       200    
Duke Energy Carolinas | Natural Disasters and Other Casualty Events | Minimum            
Public Utilities, General Disclosures [Line Items]            
Storm costs incurred       612    
Capital expenditures       402    
Duke Energy Carolinas | Hurricanes Helene, Debby and Milton            
Public Utilities, General Disclosures [Line Items]            
Other Noncurrent Assets: Regulatory assets       583    
Duke Energy Progress            
Public Utilities, General Disclosures [Line Items]            
Capital expenditures       2,803 2,387 2,070
Operation, maintenance and other       1,388 1,379 $ 1,475
Regulatory assets       5,181 5,488  
Other Noncurrent Assets: Regulatory assets       4,555 4,546  
Duke Energy Progress | Natural Disasters and Other Casualty Events            
Public Utilities, General Disclosures [Line Items]            
Other Noncurrent Assets: Regulatory assets       47 $ 55  
Duke Energy Progress | Natural Disasters and Other Casualty Events | Hurricanes Helene, Debby and Milton | NCUC            
Public Utilities, General Disclosures [Line Items]            
Storm reserves       100    
Duke Energy Progress | Natural Disasters and Other Casualty Events | Minimum            
Public Utilities, General Disclosures [Line Items]            
Storm costs incurred       248    
Capital expenditures       146    
Duke Energy Progress | Hurricanes Helene, Debby and Milton            
Public Utilities, General Disclosures [Line Items]            
Other Noncurrent Assets: Regulatory assets       $ 219    
v3.25.0.1
Regulatory Matters (Duke Energy Carolinas Narrative) (Details)
$ in Millions
 12 Months Ended
Jul. 03, 2024
USD ($)
May 17, 2024
USD ($)
Mar. 14, 2024
USD ($)
numberOfCombustionTurbines
MW
Jan. 04, 2024
Dec. 15, 2023
Aug. 22, 2023
USD ($)
Dec. 14, 2027
USD ($)
Dec. 14, 2026
USD ($)
Dec. 14, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 14, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Public Utilities, General Disclosures [Line Items]                          
Impairment of assets and other charges                   $ 38   $ 85 $ 434
Operation, maintenance and other                   5,389   5,625 5,734
Capital expenditures                   12,263   12,622 11,419
Other Noncurrent Assets: Regulatory assets                   14,254   13,618  
Duke Energy Carolinas                          
Public Utilities, General Disclosures [Line Items]                          
Impairment of assets and other charges                   31   44 26
Operation, maintenance and other                   1,740   1,774 1,892
Capital expenditures                   3,966   3,733 3,304
Other Noncurrent Assets: Regulatory assets                   4,199   3,916  
Duke Energy Carolinas | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Other Noncurrent Assets: Regulatory assets                   34   32  
Duke Energy Carolinas | Hurricanes Helene, Debby and Milton                          
Public Utilities, General Disclosures [Line Items]                          
Other Noncurrent Assets: Regulatory assets                   583      
Duke Energy Carolinas | Minimum | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Storm costs incurred                   612      
Capital expenditures                   402      
Duke Energy Carolinas and Duke Energy Progress | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Other Noncurrent Assets: Regulatory assets                   802   87  
Duke Energy Carolinas and Duke Energy Progress | Minimum | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Storm costs incurred                   95      
Capital expenditures                   8      
Duke Energy Carolinas and Duke Energy Progress | Minimum | Hurricanes Helene, Debby and Milton                          
Public Utilities, General Disclosures [Line Items]                          
Storm costs incurred                   860      
Capital expenditures                   548      
Duke Energy Progress                          
Public Utilities, General Disclosures [Line Items]                          
Impairment of assets and other charges                   6   29 7
Operation, maintenance and other                   1,388   1,379 1,475
Capital expenditures                   2,803   2,387 $ 2,070
Other Noncurrent Assets: Regulatory assets                   4,555   4,546  
Duke Energy Progress | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Other Noncurrent Assets: Regulatory assets                   47   $ 55  
Duke Energy Progress | Hurricanes Helene, Debby and Milton                          
Public Utilities, General Disclosures [Line Items]                          
Other Noncurrent Assets: Regulatory assets                   219      
Duke Energy Progress | Minimum | Natural Disasters and Other Casualty Events                          
Public Utilities, General Disclosures [Line Items]                          
Storm costs incurred                   248      
Capital expenditures                   146      
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas                          
Public Utilities, General Disclosures [Line Items]                          
MYRP period (in years)           3 years              
Settlement amount           $ 19,500              
Impairment of assets and other charges                   29      
Operation, maintenance and other                   8      
Approved rate increase (decrease) amount by state commission                     $ 436    
Approved return on equity (as a percent)         10.10%                
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas | Equity                          
Public Utilities, General Disclosures [Line Items]                          
Approved return on equity (as a percent)         53.00%                
2023 North Carolina Rate Case | NCUC | Duke Energy Carolinas | Forecast                          
Public Utilities, General Disclosures [Line Items]                          
Approved rate increase (decrease) amount by state commission             $ 768 $ 158 $ 174        
2023 North Carolina Rate Case, Retail Allocated | NCUC | Duke Energy Carolinas                          
Public Utilities, General Disclosures [Line Items]                          
Settlement amount           $ 4,600              
2024 South Carolina Rate Case | PSCSC | Duke Energy Carolinas                          
Public Utilities, General Disclosures [Line Items]                          
Settlement amount $ 7,400                        
Impairment of assets and other charges                   33      
Operation, maintenance and other                   2      
Approved rate increase (decrease) amount by state commission $ 150 $ 240                      
Approved return on equity (as a percent)   9.94%                      
Customer giveback   $ 84                      
Approved capital structure (as a percent)   51.21%                      
Interest expense                   $ 11      
Proposed rate period (in years)       2 years                  
Marshall Combustion Turbines CPCN Proceedings | NCUC | Duke Energy Carolinas                          
Public Utilities, General Disclosures [Line Items]                          
Requested rate increase (decrease)     $ 104                    
Requested rate increase (decrease), percent     2.20%                    
Hydrogen-Capable Advanced-Class Simple-Cycle Combustion Turbines, Number | numberOfCombustionTurbines     2                    
Winter rating, combustion turbines | MW     850                    
v3.25.0.1
Regulatory Matters (Duke Energy Progress Narrative) (Details)
 12 Months Ended
Feb. 07, 2025
USD ($)
MW
Mar. 28, 2024
USD ($)
MW
Aug. 18, 2023
USD ($)
Apr. 16, 2023
Oct. 06, 2022
Sep. 01, 2022
USD ($)
Aug. 17, 2027
USD ($)
Aug. 17, 2026
USD ($)
Aug. 17, 2025
USD ($)
Dec. 31, 2024
USD ($)
Aug. 17, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jan. 01, 2026
MW
Apr. 25, 2024
USD ($)
Public Utilities, General Disclosures [Line Items]                              
Impairment of assets and other charges                   $ 38,000,000   $ 85,000,000 $ 434,000,000    
Operation, maintenance and other                   5,389,000,000   5,625,000,000 5,734,000,000    
Debt Instrument, Face Amount                   7,740,000,000   9,825,000,000      
Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Impairment of assets and other charges                   6,000,000   29,000,000 7,000,000    
Operation, maintenance and other                   1,388,000,000   1,379,000,000 1,475,000,000    
Debt Instrument, Face Amount                   677,000,000   1,000,000,000      
Duke Energy Progress | Storm Recovery Bonds                              
Public Utilities, General Disclosures [Line Items]                              
Debt Instrument, Face Amount                             $ 177,000,000
Duke Energy Carolinas                              
Public Utilities, General Disclosures [Line Items]                              
Impairment of assets and other charges                   31,000,000   44,000,000 26,000,000    
Operation, maintenance and other                   1,740,000,000   1,774,000,000 $ 1,892,000,000    
Debt Instrument, Face Amount                   1,000,000,000   $ 2,650,000,000      
2022 North Carolina Rate Case | NCUC | Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Proposed rate period (in years)       3 years 3 years                    
Approved rate increase (decrease) amount by state commission                     $ 233,000,000        
Settlement amount     $ 12,200,000,000                        
MYRP period (in years)     3 years                        
Approved return on equity (as a percent)     9.80%                        
Impairment of assets and other charges                   28,000,000          
Operation, maintenance and other                   $ 8,000,000          
2022 North Carolina Rate Case | NCUC | Duke Energy Progress | Equity                              
Public Utilities, General Disclosures [Line Items]                              
Approved return on equity (as a percent)     53.00%                        
2022 North Carolina Rate Case | NCUC | Duke Energy Progress | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Approved rate increase (decrease) amount by state commission             $ 494,000,000 $ 135,000,000 $ 126,000,000            
2022 North Carolina Rate Case, Retail Allocated | NCUC | Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Settlement amount     $ 3,500,000,000                        
2022 South Carolina Rate Case | PSCSC | Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Approved rate increase (decrease) amount by state commission           $ 52,000,000                  
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Approved rate increase (decrease) amount by state commission           $ 36,000,000                  
Approved return on equity (as a percent)           9.60%                  
Deferred compliance costs period (in years)           33 months                  
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Duke Energy Progress | Equity                              
Public Utilities, General Disclosures [Line Items]                              
Approved return on equity (as a percent)           52.43%                  
2022 South Carolina Rate Case, Coal Ash Basin Closure Costs | PSCSC | Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Deferred compliance costs period (in years)           7 years                  
Deferred costs not recovering           $ 50,000,000                  
Person County Combined Cycle CPCN | NCUC | Duke Energy Progress                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease)   $ 98,000,000                          
Public Utilities, Combined Cycle Plants, in Megawatts | MW   1,360                          
Requested rate increase (decrease), percent   2.60%                          
Person County Combined Cycle CPCN | NCUC | Duke Energy Progress | Subsequent Event                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease) $ 113,000,000                            
Public Utilities, Combined Cycle Plants, in Megawatts | MW 1,360                            
Requested rate increase (decrease), percent 2.60%                            
Person County Combined Cycle CPCN | NCUC | NCEMC | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Public Utilities, Combined Cycle Plants, in Megawatts | MW                           225  
Person County Combined Cycle CPCN | NCUC | NCEMC | Forecast | Subsequent Event                              
Public Utilities, General Disclosures [Line Items]                              
Public Utilities, Combined Cycle Plants, in Megawatts | MW 225                            
Person County Combined Cycle CPCN | NCEMC | Duke Energy Progress | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Public Utilities, Combined Cycle Plants, in Megawatts | MW                           1,135  
v3.25.0.1
Regulatory Matters (Duke Energy Florida Narrative) (Details)
 12 Months Ended
Sep. 23, 2024
USD ($)
Jul. 15, 2024
solar_projects
Oct. 16, 2023
USD ($)
Jan. 23, 2023
USD ($)
Oct. 17, 2022
USD ($)
Oct. 04, 2022
USD ($)
Jun. 15, 2022
USD ($)
Jan. 14, 2021
USD ($)
Jul. 01, 2020
USD ($)
plant
MW
Dec. 31, 2026
USD ($)
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jan. 15, 2025
USD ($)
Dec. 27, 2024
USD ($)
Aug. 01, 2024
USD ($)
Jul. 31, 2024
USD ($)
Sep. 29, 2023
USD ($)
Aug. 30, 2023
outage
Sep. 28, 2022
outage
Sep. 27, 2022
USD ($)
Apr. 11, 2022
USD ($)
May 04, 2021
USD ($)
Public Utilities, General Disclosures [Line Items]                                                
Other Noncurrent Assets: Regulatory assets                       $ 14,254,000,000 $ 13,618,000,000                      
Capital expenditures                       12,263,000,000 12,622,000,000 $ 11,419,000,000                    
Hurricane Ian                                                
Public Utilities, General Disclosures [Line Items]                                                
Actual storm costs                                     $ 431,000,000          
Duke Energy Florida                                                
Public Utilities, General Disclosures [Line Items]                                                
Other Noncurrent Assets: Regulatory assets                       2,064,000,000 1,883,000,000                      
Capital expenditures                       2,449,000,000 2,529,000,000 2,247,000,000                    
Duke Energy Florida | Natural Disasters and Other Casualty Events                                                
Public Utilities, General Disclosures [Line Items]                                                
Other Noncurrent Assets: Regulatory assets                       936,000,000                        
Capital expenditures                       69,000,000                        
Duke Energy Florida | Solar Plant                                                
Public Utilities, General Disclosures [Line Items]                                                
Estimated cost of generation facilities to be built                 $ 1,100,000,000                              
Duke Energy Florida | FPSC                                                
Public Utilities, General Disclosures [Line Items]                                                
Number of solar plants petition for approval | plant                 10                              
Solar generation capacity plants (in MW) | MW                 749                              
Duke Energy Florida | FPSC | Natural Disasters and Other Casualty Events                                                
Public Utilities, General Disclosures [Line Items]                                                
Number of outages | outage                                         1,100,000      
Duke Energy Florida | FPSC | Subsequent Event                                                
Public Utilities, General Disclosures [Line Items]                                                
Investment in transmission and distribution                             $ 7,000,000,000                  
Duke Energy Florida | 2021 Settlement | FPSC                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved rate increase (decrease) amount by state commission                       79,000,000 49,000,000 $ 67,000,000                    
Approved capital structure (as a percent)               53.00%                                
Public utilities, basis points, increase               0.25%                                
Contract asset, noncurrent             $ 154,000,000 $ 173,000,000       $ 32,000,000 $ 141,000,000                     $ 173,000,000
Proceeds from legal settlements             $ 180,000,000                                  
Requested rate increase (decrease)         $ 56,000,000                                      
Future investments in new cost               $ 1,000,000,000                                
Duke Energy Florida | 2021 Settlement | FPSC | US Treasury Securities                                                
Public Utilities, General Disclosures [Line Items]                                                
Public utilities, basis points, increase               0.50%                                
Duke Energy Florida | 2021 Settlement | FPSC | Minimum                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)               8.85%                                
Duke Energy Florida | 2021 Settlement | FPSC | Minimum | US Treasury Securities                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)               9.85%                                
Duke Energy Florida | 2021 Settlement | FPSC | Maximum                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)               10.85%                                
Duke Energy Florida | 2021 Settlement | FPSC | Maximum | US Treasury Securities                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)               10.10%                                
Duke Energy Florida | 2021 Settlement | FPSC | Weighted Average                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)               9.85%                                
Duke Energy Florida | Storm Protection Plan | FPSC                                                
Public Utilities, General Disclosures [Line Items]                                                
Investment in transmission and distribution                                             $ 7,000,000,000  
Cost reduction to transmission loop           $ 80,000,000                                    
Cost reduction period (in years)           10 years                                    
Duke Energy Florida | Hurricane Ian | FPSC | Natural Disasters and Other Casualty Events                                                
Public Utilities, General Disclosures [Line Items]                                                
Storm reserves                               $ 1,100,000,000 $ 132,000,000 $ 63,000,000       $ 107,000,000    
Interim recovery payments       $ 442,000,000                                        
Duke Energy Florida | Hurricane Idalia | FPSC | Natural Disasters and Other Casualty Events                                                
Public Utilities, General Disclosures [Line Items]                                                
Number of customers impacted | outage                                       200,000        
Interim recovery payments $ 98,000,000   $ 166,000,000                                          
Duke Energy Florida | Hurricane Idalia, Retail Portion | FPSC | Natural Disasters and Other Casualty Events                                                
Public Utilities, General Disclosures [Line Items]                                                
Interim recovery payments     92,000,000                                          
Duke Energy Florida | Hurricane Idalia, Projected Costs | FPSC | Natural Disasters and Other Casualty Events                                                
Public Utilities, General Disclosures [Line Items]                                                
Interim recovery payments     $ 74,000,000                                          
Duke Energy Florida | 2024 Florida Rate Case | FPSC                                                
Public Utilities, General Disclosures [Line Items]                                                
Number of solar plants petition for approval | solar_projects   12                                            
Duke Energy Florida | 2024 Florida Rate Case | FPSC | Forecast                                                
Public Utilities, General Disclosures [Line Items]                                                
Requested rate increase (decrease)                   $ (59,000,000) $ (203,000,000)                          
Duke Energy Florida | 2024 Florida Rate Case | FPSC | Minimum                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)   9.30%                                            
Duke Energy Florida | 2024 Florida Rate Case | FPSC | Maximum                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)   11.30%                                            
Duke Energy Florida | 2024 Florida Rate Case | FPSC | Weighted Average                                                
Public Utilities, General Disclosures [Line Items]                                                
Approved return on equity (as a percent)   10.30%                                            
Approved capital structure (as a percent)   53.00%                                            
v3.25.0.1
Regulatory Matters (Duke Energy Ohio Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 02, 2024
USD ($)
Oct. 12, 2023
USD ($)
Aug. 18, 2023
Apr. 28, 2023
USD ($)
Sep. 19, 2022
USD ($)
Dec. 31, 2024
USD ($)
Aug. 17, 2024
USD ($)
Dec. 31, 2023
USD ($)
site
Dec. 31, 2022
USD ($)
Public Utilities, General Disclosures [Line Items]                  
Operating Revenues           $ 30,357   $ 29,060 $ 28,768
Operation, maintenance and other           5,389   5,625 5,734
Income tax expense (benefit)           (590)   (438) (300)
Public utilities, property, plant and equipment, net           123,303   115,315  
Impairment of assets and other charges           (38)   (85) (434)
Duke Energy Ohio                  
Public Utilities, General Disclosures [Line Items]                  
Operating Revenues           2,545   2,507 2,514
Operation, maintenance and other           485   478 523
Income tax expense (benefit)           (64)   (63) 21
Public utilities, property, plant and equipment, net           10,244   9,759  
Impairment of assets and other charges           0   $ (3) 10
Duke Energy Ohio | Duke Energy Ohio Electric Base Rate Case | Public Utilities Commission Of Ohio                  
Public Utilities, General Disclosures [Line Items]                  
Approved rate increase (decrease) amount by state commission         $ 23        
Approved return on equity (as a percent)         9.50%        
Duke Energy Ohio | Duke Energy Ohio Electric Base Rate Case | Public Utilities Commission Of Ohio | Equity                  
Public Utilities, General Disclosures [Line Items]                  
Approved return on equity (as a percent)         50.50%        
Duke Energy Ohio | Energy Efficiency Cost Recovery | Public Utilities Commission Of Ohio                  
Public Utilities, General Disclosures [Line Items]                  
Regulated electric revenue           14      
Duke Energy Ohio | Duke Energy Ohio Gas Base Rate Case | Public Utilities Commission Of Ohio                  
Public Utilities, General Disclosures [Line Items]                  
Requested rate increase (decrease)       $ 32          
Requested return on equity (as a percent)       9.60%          
Duke Energy Ohio | Duke Energy Ohio Gas Base Rate Case | Public Utilities Commission Of Ohio | Maximum                  
Public Utilities, General Disclosures [Line Items]                  
Equity ratio (as a percent)       52.32%          
Duke Energy Ohio | MGP Cost Recovery - 2009 Through 2012 | Public Utilities Commission Of Ohio                  
Public Utilities, General Disclosures [Line Items]                  
Number of environmental remediation sites | site               2  
Duke Energy Ohio | MGP Cost Recovery - 2013 Through 2019 | Public Utilities Commission Of Ohio                  
Public Utilities, General Disclosures [Line Items]                  
Operating Revenues               $ 15  
Operation, maintenance and other               58  
Income tax expense (benefit)               72  
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case | KPSC                  
Public Utilities, General Disclosures [Line Items]                  
Approved rate increase (decrease) amount by state commission   $ 48              
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case | KPSC | Maximum                  
Public Utilities, General Disclosures [Line Items]                  
Equity ratio (as a percent)   52.145%              
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case, Electric Base Rates | KPSC                  
Public Utilities, General Disclosures [Line Items]                  
Approved return on equity (as a percent)   9.75%              
Duke Energy Ohio | Duke Energy Kentucky Electric Base Rate Case, Electric Riders | KPSC                  
Public Utilities, General Disclosures [Line Items]                  
Approved return on equity (as a percent)   9.65%              
Duke Energy Progress                  
Public Utilities, General Disclosures [Line Items]                  
Operating Revenues           7,017   6,488 6,753
Operation, maintenance and other           1,388   1,379 1,475
Income tax expense (benefit)           (189)   (149) (158)
Public utilities, property, plant and equipment, net           26,130   24,056  
Impairment of assets and other charges           (6)   $ (29) $ (7)
Duke Energy Progress | 2022 North Carolina Rate Case | NCUC                  
Public Utilities, General Disclosures [Line Items]                  
Approved rate increase (decrease) amount by state commission             $ 233    
Approved return on equity (as a percent)     9.80%            
Operation, maintenance and other           8      
Impairment of assets and other charges           $ (28)      
Duke Energy Progress | 2022 North Carolina Rate Case | NCUC | Equity                  
Public Utilities, General Disclosures [Line Items]                  
Approved return on equity (as a percent)     53.00%            
Duke Energy Kentucky | Duke Energy Kentucky 2024 Electric Base Rate Case | KPSC                  
Public Utilities, General Disclosures [Line Items]                  
Requested rate increase (decrease) $ 70                
Requested return on equity (as a percent) 10.85%                
Equity ratio (as a percent) 52.728%                
Requested rate increase (decrease), net of tax (as a percent) 14.70%                
v3.25.0.1
Regulatory Matters (Duke Energy Indiana Narrative) (Details)
 1 Months Ended 12 Months Ended
Feb. 13, 2025
USD ($)
MW
Jan. 29, 2025
USD ($)
Apr. 04, 2024
USD ($)
Jun. 29, 2020
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2026
Dec. 31, 2025
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 20, 2023
Jun. 30, 2023
USD ($)
Feb. 03, 2023
USD ($)
Jun. 15, 2022
USD ($)
Dec. 31, 2021
USD ($)
Public Utilities, General Disclosures [Line Items]                              
Impairment of assets and other charges               $ 38,000,000 $ 85,000,000 $ 434,000,000          
Operating Revenues               30,357,000,000 29,060,000,000 28,768,000,000          
Duke Energy Indiana                              
Public Utilities, General Disclosures [Line Items]                              
Impairment of assets and other charges               0 0 388,000,000          
Operating Revenues               $ 3,040,000,000 3,399,000,000 $ 3,922,000,000          
Duke Energy Indiana | Indiana Rate Case 2019 | Indiana Utility Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Approved rate increase (decrease) amount by state commission       $ 146,000,000                      
Disclosure of rate matters, rate base                             $ 10,200,000,000
Public utilities, disclosure of rate matters, reduction of rate base       $ 200,000,000                      
Public utilities, approved return on equity, step one estimated percentage (as a percent)       75.00%                      
Public utilities, approved return on equity, step two estimated (as a percent)       25.00%                      
Impairment of assets and other charges                 211,000,000            
Operating Revenues                 46,000,000            
Refunds to customers                       $ 70,000,000 $ 70,000,000    
Duke Energy Indiana | Indiana Coal Ash Recovery | Indiana Utility Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Impairment of assets and other charges                 $ 175,000,000            
Simple interest of refunds (as a percent)                     4.71%        
Duke Energy Indiana | TDSIG 2.0 | Indiana Utility Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Future investments in new cost                           $ 2,000,000,000  
Duke Energy Indiana | 2024 Indiana Rate Case | Indiana Utility Regulatory Commission                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease)     $ 492,000,000                        
Requested rate increase (decrease), net of tax (as a percent)     16.20%                        
Requested return on equity (as a percent)     10.50%                        
Future investments in new cost     $ 1,600,000,000                        
Equity ratio (as a percent)     53.00%                        
Accumulated other comprehensive loss (income)         $ 29,000,000                    
Duke Energy Indiana | 2024 Indiana Rate Case | Indiana Utility Regulatory Commission | Subsequent Event                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease), amended, amount   $ 385,000,000                          
Approved rate increase (decrease) amount by state commission   $ 296,000,000                          
Approved return on equity (as a percent)   9.75%                          
Equity ratio (as a percent)   53.00%                          
Duke Energy Indiana | 2024 Indiana Rate Case | Indiana Utility Regulatory Commission | Forecast                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease), net of tax (as a percent)           4.50% 11.70%                
Duke Energy Indiana | Cayuga Combined Cycle CPCN | Indiana Utility Regulatory Commission | Subsequent Event                              
Public Utilities, General Disclosures [Line Items]                              
Requested rate increase (decrease), net of tax (as a percent) 5.40%                            
Winter rating, combustion turbines | MW 471                            
Estimated cost of generation facilities to be built $ 2,970,000,000                            
Duke Energy Indiana | Cayuga Combined Cycle CPCN, Gas-Fired | Indiana Utility Regulatory Commission | Subsequent Event                              
Public Utilities, General Disclosures [Line Items]                              
Winter rating, combustion turbines | MW 1,476                            
Duke Energy Indiana | Cayuga Combined Cycle CPCN, Coal-Fired | Indiana Utility Regulatory Commission | Subsequent Event                              
Public Utilities, General Disclosures [Line Items]                              
Winter rating, combustion turbines | MW 1,005                            
v3.25.0.1
Regulatory Matters (Piedmont Narrative) (Details) - Piedmont - 2024 North Carolina Rate Case - NCUC
$ in Millions
Sep. 13, 2024
USD ($)
Public Utilities, General Disclosures [Line Items]  
Increase in net annual retail revenues in the first year $ 88
Increase in net annual retail revenue after the first year $ 10
Requested return on equity (as a percent) 9.80%
Equity ratio (as a percent) 52.30%
v3.25.0.1
Regulatory Matters - Narrative (Details)
customers in Thousands, $ in Billions
 12 Months Ended
Dec. 31, 2024
USD ($)
Oct. 31, 2024
customers
Sep. 30, 2024
customers
Aug. 31, 2024
customers
Hurricanes Helene, Debby and Milton        
Regulatory Matters [Line Items]        
Estimated storm restoration costs | $ $ 2.6      
Hurricane Debby        
Regulatory Matters [Line Items]        
Number of customers impacted       700
Hurricane Helene        
Regulatory Matters [Line Items]        
Number of customers impacted     3,500  
Hurricane Milton | Duke Energy Florida        
Regulatory Matters [Line Items]        
Number of customers impacted   1,000    
v3.25.0.1
Regulatory Matters - Total Storm Restoration Costs Across Subsidiary Registrants (Details) - Hurricanes Helene, Debby and Milton
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Public Utilities, General Disclosures [Line Items]  
Estimated storm restoration costs $ 2,600
Minimum  
Public Utilities, General Disclosures [Line Items]  
Estimated storm restoration costs 2,800
Duke Energy Carolinas | Maximum  
Public Utilities, General Disclosures [Line Items]  
Estimated storm restoration costs 1,150
Duke Energy Progress | Maximum  
Public Utilities, General Disclosures [Line Items]  
Estimated storm restoration costs 450
Duke Energy Florida | Maximum  
Public Utilities, General Disclosures [Line Items]  
Estimated storm restoration costs $ 1,150
v3.25.0.1
Regulatory Matters (Schedule of Net Carrying Value Of Facilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Public Utilities, General Disclosures [Line Items]    
Remaining net book value $ 123,303 $ 115,315
Duke Energy Carolinas    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value 39,292 36,774
Duke Energy Progress    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value 26,130 24,056
Duke Energy Florida    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value 22,840 21,286
Duke Energy Indiana    
Public Utilities, General Disclosures [Line Items]    
Remaining net book value $ 13,122 $ 12,399
v3.25.0.1
Commitments and Contingencies (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 20, 2024
Plaintiff
Dec. 31, 2024
USD ($)
reactor
case
Dec. 31, 2023
USD ($)
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   95  
Insured public liability limit per nuclear incident   $ 16,200.0  
Excess nuclear liability program coverage   15,800.0  
Pro rata assessment for each reactor owned for each incident exceeding public liability insurance   166.0  
Annual payment limit to pro rata assessments   24.7  
Industry aggregate limit   3,200.0  
Sublimit for non-nuclear terrorist events   1,800.0  
Sublimit property damage losses   1,500.0  
Additional nuclear accident limit   $ 1,250.0  
Accidental outage insurance coverage initial weeks (in days)   365 days  
Insurance coverage percentage initial weeks (as a percent)   100.00%  
Accidental outage insurance coverage additional weeks (in days)   770 days  
Insurance coverage percentage additional weeks (as a percent)   80.00%  
Accidental outage insurance coverage policy limit   $ 490.0  
Weeks of sublimits for accidental outage coverage (in days)   728 days  
Sublimit accidental outage recovery   $ 291.0  
Maximum magnitude of retroactive premiums   10  
Maximum period for retroactive premium assessment (in years)   6 years  
Maximum | Pipeline and storage capacity contracts      
Loss Contingencies [Line Items]      
Long-term purchase commitment term (in years)   18 years  
Maximum | Natural gas supply contracts fixed payment      
Loss Contingencies [Line Items]      
Long-term purchase commitment term (in years)   3 years  
Maximum | Natural gas supply purchase commitments      
Loss Contingencies [Line Items]      
Long-term purchase commitment term (in years)   6 years  
Texas Storm Uri Tort Litigation | Pending Litigation      
Loss Contingencies [Line Items]      
Number of pending claims | case   5  
Mooresville Coal Ash Class Action Litigation      
Loss Contingencies [Line Items]      
Number of plaintiffs | Plaintiff 15    
Duke Energy Carolinas      
Loss Contingencies [Line Items]      
Primary nuclear liability program coverage   $ 500.0  
Max retroactive premium assessments   162.0  
Duke Energy Carolinas | Asbestos Issue      
Loss Contingencies [Line Items]      
Asbestos-related injuries and damages reserves   396.0 $ 423.0
Loss contingency, receivable, noncurrent   539.0 572.0
Duke Energy Progress      
Loss Contingencies [Line Items]      
Primary nuclear liability program coverage   500.0  
Max retroactive premium assessments   99.0  
Duke Energy Florida      
Loss Contingencies [Line Items]      
Primary nuclear liability program coverage   100.0  
Max retroactive premium assessments   1.0  
Duke Energy and Duke Energy Carolinas | ASU 2016-13      
Loss Contingencies [Line Items]      
Premium receivable, allowance for credit loss   $ 9.0 $ 9.0
Catawba | Duke Energy Carolinas      
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   2  
Dedicated additional nuclear accident limit   $ 1,250.0  
Additional Non-nuclear accident limit   $ 750.0  
Potential obligation percentage (as a percent)   100.00%  
McGuire | Duke Energy Carolinas      
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   2  
Oconee | Duke Energy Carolinas      
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   3  
Additional Non-nuclear accident limit   $ 750.0  
Harris | Duke Energy Progress      
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   1  
Robinson | Duke Energy Progress      
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   1  
Brunswick | Duke Energy Progress      
Loss Contingencies [Line Items]      
Number of licensed nuclear reactors | reactor   2  
Crystal River Unit 3 | Duke Energy Florida      
Loss Contingencies [Line Items]      
Sublimit property damage losses   $ 50.0  
v3.25.0.1
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Loss Contingencies [Line Items]    
Environmental Loss Contingency, Statement of Financial Position [Extensible Enumeration] Other (includes $54 at 2023 related to VIEs) Other (includes $54 at 2023 related to VIEs)
Environmental reserves    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation $ 73 $ 88
Environmental reserves | Duke Energy Carolinas    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 24 23
Environmental reserves | Progress Energy    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 19 19
Environmental reserves | Duke Energy Progress    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 9 9
Environmental reserves | Duke Energy Florida    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 10 10
Environmental reserves | Duke Energy Ohio    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 21 36
Environmental reserves | Duke Energy Indiana    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation 2 2
Environmental reserves | Piedmont    
Loss Contingencies [Line Items]    
Reserves for Environmental Remediation $ 7 $ 7
v3.25.0.1
Commitments and Contingencies (Purchased Power) (Details) - Purchased Power Contracts
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Duke Energy Progress  
Unconditional Purchase Obligations [Abstract]  
2025 $ 22
2026 18
2027 19
2028 18
2029 3
Thereafter 31
Total $ 111
Duke Energy Progress | Minimum  
Unconditional Purchase Obligations [Abstract]  
Net plant output (as a percent) 18.00%
Duke Energy Progress | Maximum  
Unconditional Purchase Obligations [Abstract]  
Net plant output (as a percent) 100.00%
Duke Energy Indiana  
Unconditional Purchase Obligations [Abstract]  
2025 $ 33
2026 12
Total $ 45
v3.25.0.1
Commitments and Contingencies (Gas Supply Contracts) (Details) - Natural Gas Supply and Capacity Contracts
$ in Millions
Dec. 31, 2024
USD ($)
Duke Energy Ohio  
Long-term Purchase Commitment [Line Items]  
2025 $ 104
2026 75
2027 71
2028 69
2029 65
Thereafter 554
Total 938
Piedmont  
Long-term Purchase Commitment [Line Items]  
2025 369
2026 366
2027 322
2028 241
2029 233
Thereafter 695
Total $ 2,226
v3.25.0.1
Leases (Narrative) (Details) - Construction and transportation of natural gas pipelines - Piedmont - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]    
Net investment in lease, current $ 2 $ 2
Duke Energy Carolinas    
Lessee, Lease, Description [Line Items]    
Net investment in lease, noncurrent $ 197 $ 199
v3.25.0.1
Leases (Lease Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Lessee, Lease, Description [Line Items]    
Operating lease expense $ 275 $ 236
Short-term lease expense 7 5
Variable lease expense 33 27
Finance lease expense    
Amortization of leased assets 113 160
Interest on lease liabilities 41 46
Total finance lease expense 154 206
Total lease expense 469 474
Duke Energy Carolinas    
Lessee, Lease, Description [Line Items]    
Operating lease expense 66 41
Variable lease expense 2 2
Finance lease expense    
Amortization of leased assets 7 7
Interest on lease liabilities 31 31
Total finance lease expense 38 38
Total lease expense 106 81
Progress Energy    
Lessee, Lease, Description [Line Items]    
Operating lease expense 173 157
Short-term lease expense 3 2
Variable lease expense 29 22
Finance lease expense    
Amortization of leased assets 46 57
Interest on lease liabilities 44 45
Total finance lease expense 90 102
Total lease expense 295 283
Duke Energy Progress    
Lessee, Lease, Description [Line Items]    
Operating lease expense 82 80
Short-term lease expense 1 1
Variable lease expense 19 11
Finance lease expense    
Amortization of leased assets 38 35
Interest on lease liabilities 41 43
Total finance lease expense 79 78
Total lease expense 181 170
Duke Energy Florida    
Lessee, Lease, Description [Line Items]    
Operating lease expense 91 77
Short-term lease expense 2 1
Variable lease expense 10 11
Finance lease expense    
Amortization of leased assets 8 22
Interest on lease liabilities 3 2
Total finance lease expense 11 24
Total lease expense 114 113
Duke Energy Ohio    
Lessee, Lease, Description [Line Items]    
Operating lease expense 12 11
Finance lease expense    
Total lease expense 12 11
Duke Energy Indiana    
Lessee, Lease, Description [Line Items]    
Operating lease expense 23 17
Short-term lease expense 1 1
Variable lease expense 1  
Finance lease expense    
Interest on lease liabilities 1 1
Total finance lease expense 1 1
Total lease expense 26 19
Piedmont    
Lessee, Lease, Description [Line Items]    
Operating lease expense 2 2
Variable lease expense 1 1
Finance lease expense    
Total lease expense $ 3 $ 3
v3.25.0.1
Leases (Operating Lease Maturities) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Lessee, Operating Lease, Liability, Payment, Due  
2025 $ 256
2026 241
2027 191
2028 153
2029 120
Thereafter 458
Total operating lease payments 1,419
Less: Present value discount (254)
Total operating lease liabilities 1,165
Duke Energy Carolinas  
Lessee, Operating Lease, Liability, Payment, Due  
2025 24
2026 21
2027 14
2028 11
2029 10
Thereafter 53
Total operating lease payments 133
Less: Present value discount (26)
Total operating lease liabilities 107
Progress Energy  
Lessee, Operating Lease, Liability, Payment, Due  
2025 121
2026 124
2027 97
2028 82
2029 74
Thereafter 307
Total operating lease payments 805
Less: Present value discount (151)
Total operating lease liabilities 654
Duke Energy Progress  
Lessee, Operating Lease, Liability, Payment, Due  
2025 55
2026 59
2027 60
2028 59
2029 52
Thereafter 156
Total operating lease payments 441
Less: Present value discount (67)
Total operating lease liabilities 374
Duke Energy Florida  
Lessee, Operating Lease, Liability, Payment, Due  
2025 66
2026 65
2027 37
2028 23
2029 22
Thereafter 151
Total operating lease payments 364
Less: Present value discount (84)
Total operating lease liabilities 280
Duke Energy Ohio  
Lessee, Operating Lease, Liability, Payment, Due  
2025 1
2026 1
2027 1
2028 1
2029 1
Thereafter 4
Total operating lease payments 9
Less: Present value discount (2)
Total operating lease liabilities 7
Duke Energy Indiana  
Lessee, Operating Lease, Liability, Payment, Due  
2025 7
2026 7
2027 5
2028 3
2029 3
Thereafter 24
Total operating lease payments 49
Less: Present value discount (10)
Total operating lease liabilities 39
Piedmont  
Lessee, Operating Lease, Liability, Payment, Due  
2025 5
2026 1
2027 1
2028 1
2029 0
Thereafter 0
Total operating lease payments 8
Less: Present value discount 0
Total operating lease liabilities $ 8
v3.25.0.1
Leases (Finance Lease Maturities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finance Lease, Liability, Payment, Due    
2025 $ 86  
2026 87  
2027 82  
2028 79  
2029 79  
Thereafter 489  
Total finance lease payments 902  
Less: Amounts representing interest (332)  
Total finance lease liabilities 570 $ 639
Duke Energy Carolinas    
Finance Lease, Liability, Payment, Due    
2025 38  
2026 38  
2027 38  
2028 38  
2029 38  
Thereafter 351  
Total finance lease payments 541  
Less: Amounts representing interest (271)  
Total finance lease liabilities 270 277
Progress Energy    
Finance Lease, Liability, Payment, Due    
2025 91  
2026 92  
2027 89  
2028 87  
2029 88  
Thereafter 444  
Total finance lease payments 891  
Less: Amounts representing interest (310)  
Total finance lease liabilities 581 571
Duke Energy Progress    
Finance Lease, Liability, Payment, Due    
2025 80  
2026 81  
2027 81  
2028 81  
2029 81  
Thereafter 393  
Total finance lease payments 797  
Less: Amounts representing interest (282)  
Total finance lease liabilities 515 552
Duke Energy Florida    
Finance Lease, Liability, Payment, Due    
2025 11  
2026 11  
2027 8  
2028 6  
2029 7  
Thereafter 51  
Total finance lease payments 94  
Less: Amounts representing interest (28)  
Total finance lease liabilities 66 19
Duke Energy Indiana    
Finance Lease, Liability, Payment, Due    
2025 1  
2026 1  
2027 1  
2028 1  
2029 1  
Thereafter 21  
Total finance lease payments 26  
Less: Amounts representing interest (16)  
Total finance lease liabilities $ 10 $ 9
v3.25.0.1
Leases (Supplemental Financial Information) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Assets    
Operating lease right-of-use assets, net $ 1,148 $ 1,092
Net property, plant and equipment 645 687
Total lease assets 1,793 1,779
Current    
Operating 208 188
Finance 46 115
Noncurrent    
Operating 957 917
Finance 524 524
Total lease liabilities 1,735 1,744
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 250 228
Operating cash flows from finance leases 41 46
Financing cash flows from finance leases 113 160
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating 322 286
Finance $ 81 $ 36
Weighted average remaining lease term (years)    
Operating leases 8 years 9 years
Finance leases 11 years 11 years
Weighted-average discount rate (as a percent)    
Operating leases 4.30% 3.10%
Finance leases 8.40% 8.50%
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List] Public utilities, property, plant and equipment, net Public utilities, property, plant and equipment, net
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List] Current Liabilities: Other Current Liabilities: Other
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List] Current maturities of long-term debt Current maturities of long-term debt
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Operating lease liabilities Operating lease liabilities
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List] Long-Term Debt Long-Term Debt
Duke Energy Carolinas    
Assets    
Operating lease right-of-use assets, net $ 98 $ 78
Net property, plant and equipment 252 268
Total lease assets 350 346
Current    
Operating 20 15
Finance 8 8
Noncurrent    
Operating 87 75
Finance 262 269
Total lease liabilities 377 367
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 24 18
Operating cash flows from finance leases 31 31
Financing cash flows from finance leases 7 7
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating 50 $ 14
Finance $ 1  
Weighted average remaining lease term (years)    
Operating leases 9 years 10 years
Finance leases 15 years 16 years
Weighted-average discount rate (as a percent)    
Operating leases 4.30% 4.00%
Finance leases 11.50% 11.50%
Progress Energy    
Assets    
Operating lease right-of-use assets, net $ 625 $ 617
Net property, plant and equipment 620 615
Total lease assets 1,245 1,232
Current    
Operating 97 94
Finance 48 46
Noncurrent    
Operating 557 544
Finance 533 525
Total lease liabilities 1,235 1,209
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 122 123
Operating cash flows from finance leases 44 45
Financing cash flows from finance leases 46 57
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating 43 $ 92
Finance $ 55  
Weighted average remaining lease term (years)    
Operating leases 9 years 10 years
Finance leases 11 years 11 years
Weighted-average discount rate (as a percent)    
Operating leases 4.00% 3.80%
Finance leases 8.90% 9.10%
Duke Energy Progress    
Assets    
Operating lease right-of-use assets, net $ 348 $ 318
Net property, plant and equipment 512 552
Total lease assets 860 870
Current    
Operating 42 45
Finance 41 38
Noncurrent    
Operating 332 293
Finance 474 514
Total lease liabilities 889 890
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 57 64
Operating cash flows from finance leases 41 43
Financing cash flows from finance leases 38 35
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 3 $ 1
Weighted average remaining lease term (years)    
Operating leases 8 years 9 years
Finance leases 10 years 11 years
Weighted-average discount rate (as a percent)    
Operating leases 3.90% 3.60%
Finance leases 9.20% 9.20%
Duke Energy Florida    
Assets    
Operating lease right-of-use assets, net $ 277 $ 299
Net property, plant and equipment 108 63
Total lease assets 385 362
Current    
Operating 55 49
Finance 7 8
Noncurrent    
Operating 225 251
Finance 59 11
Total lease liabilities 346 319
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 65 59
Operating cash flows from finance leases 3 2
Financing cash flows from finance leases 8 22
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating 40 $ 91
Finance $ 55  
Weighted average remaining lease term (years)    
Operating leases 11 years 11 years
Finance leases 15 years 18 years
Weighted-average discount rate (as a percent)    
Operating leases 4.20% 4.00%
Finance leases 5.90% 7.60%
Duke Energy Ohio    
Assets    
Operating lease right-of-use assets, net $ 6 $ 16
Total lease assets 6 16
Current    
Operating 1 1
Noncurrent    
Operating 6 16
Total lease liabilities 7 17
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases $ 1 2
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating   $ 2
Weighted average remaining lease term (years)    
Operating leases 11 years 13 years
Weighted-average discount rate (as a percent)    
Operating leases 4.10% 4.20%
Duke Energy Indiana    
Assets    
Operating lease right-of-use assets, net $ 37 $ 50
Net property, plant and equipment 6 6
Total lease assets 43 56
Current    
Operating 6 6
Noncurrent    
Operating 33 46
Finance 10 9
Total lease liabilities 49 61
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 8 7
Operating cash flows from finance leases 1 1
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating 7 $ 6
Finance $ 1  
Weighted average remaining lease term (years)    
Operating leases 11 years 13 years
Finance leases 20 years 22 years
Weighted-average discount rate (as a percent)    
Operating leases 4.00% 3.90%
Finance leases 11.70% 11.90%
Piedmont    
Assets    
Operating lease right-of-use assets, net $ 4 $ 4
Total lease assets 4 4
Current    
Operating 1  
Noncurrent    
Operating 7 10
Total lease liabilities 8 10
Cash paid for amounts included in the measurement of lease liabilities    
Operating cash flows from operating leases 1  
Lease assets obtained in exchange for new lease liabilities (non-cash)    
Operating $ 3 $ 2
Weighted average remaining lease term (years)    
Operating leases 4 years 4 years
Finance leases   3 years
Weighted-average discount rate (as a percent)    
Operating leases 3.90% 2.40%
Finance leases   5.40%
v3.25.0.1
Debt and Credit Facilities (Summary of Debt and Related Terms) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.37% 4.35%
Unsecured Debt $ 34,283 $ 30,435
Secured Debt 3,672 4,202
First mortgage bonds 39,842 37,443
Finance leases 570 639
Tax exempt bonds 1,331 1,331
Notes payable and commercial paper 4,213 4,925
Fair value hedge carrying value adjustment (82) 32
Unamortized debt discount and premium, net 845 916
Unamortized debt issuance costs (401) (383)
Total debt 84,273 79,540
Short-term notes payable and commercial paper (3,584) (4,288)
Current maturities of long-term debt (4,349) (2,800)
Total long-term debt 76,340 72,452
Short term obligations classified as long-term debt $ 937 $ 937
Unsecured Debt    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.53% 4.36%
Secured Debt    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 3.75% 4.23%
First Mortgage Bonds    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.24% 4.18%
Finance Leases    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent)  
Tax-exempt bonds    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 3.85% 3.89%
Short term obligations classified as long-term debt $ 312 $ 312
Notes Payable And Commercial Paper    
Debt Instrument [Line Items]    
Weighted Average Interest Rate (as a percent) 4.67% 5.58%
Short term obligations classified as long-term debt $ 625 $ 625
Weighted average days to maturity (in days) 13 days 23 days
Purchase Accounting Adjustments | Parent Company    
Debt Instrument [Line Items]    
Unamortized debt issuance costs $ 23 $ 25
Purchase Accounting Adjustments | Progress Energy    
Debt Instrument [Line Items]    
Unamortized debt discount and premium, net 925 992
Purchase Accounting Adjustments | Piedmont    
Debt Instrument [Line Items]    
Unamortized debt discount and premium, net 56 69
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Unsecured Debt 1,605 1,150
Secured Debt 1,463 1,441
First mortgage bonds 13,955 12,955
Finance leases 270 277
Unamortized debt discount and premium, net (20) (29)
Unamortized debt issuance costs (83) (82)
Total debt 17,490 16,680
Current maturities of long-term debt (521) (19)
Total long-term debt 16,969 15,993
Short term obligations classified as long-term debt 300 300
Duke Energy Carolinas | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 300 968
Short-term money pool/intercompany borrowings   668
Duke Energy Carolinas | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Progress Energy    
Debt Instrument [Line Items]    
Unsecured Debt 2,085 1,800
Secured Debt 2,147 2,379
First mortgage bonds 19,223 18,550
Finance leases 581 571
Tax exempt bonds 500 500
Unamortized debt discount and premium, net (44) (46)
Unamortized debt issuance costs (146) (145)
Total debt 25,573 24,802
Current maturities of long-term debt (1,517) (661)
Total long-term debt 22,979 23,098
Progress Energy | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 1,227 1,193
Short-term money pool/intercompany borrowings 1,077 1,043
Duke Energy Progress    
Debt Instrument [Line Items]    
Unsecured Debt 185  
Secured Debt 1,269 1,121
First mortgage bonds 9,974 9,475
Finance leases 515 552
Tax exempt bonds 500 500
Unamortized debt discount and premium, net (24) (24)
Unamortized debt issuance costs (65) (60)
Total debt 13,115 12,605
Current maturities of long-term debt (983) (72)
Total long-term debt 11,521 11,642
Short term obligations classified as long-term debt 150 150
Duke Energy Progress | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 761 1,041
Short-term money pool/intercompany borrowings 611 891
Duke Energy Progress | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Duke Energy Florida    
Debt Instrument [Line Items]    
Unsecured Debt 250 150
Secured Debt 879 1,258
First mortgage bonds 9,247 9,075
Finance leases 66 19
Unamortized debt discount and premium, net (19) (20)
Unamortized debt issuance costs (76) (81)
Total debt 10,814 10,553
Current maturities of long-term debt (534) (589)
Total long-term debt 9,814 9,812
Duke Energy Florida | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 467 152
Short-term money pool/intercompany borrowings 466 152
Duke Energy Florida | Purchase Accounting Adjustments    
Debt Instrument [Line Items]    
Finance leases   63
Duke Energy Ohio    
Debt Instrument [Line Items]    
Unsecured Debt 1,380 1,155
First mortgage bonds 2,722 2,300
Tax exempt bonds 77 77
Unamortized debt discount and premium, net (23) (24)
Unamortized debt issuance costs (18) (15)
Total debt 4,327 4,131
Current maturities of long-term debt (245) 0
Total long-term debt 3,920 3,518
Short term obligations classified as long-term debt 52 52
Duke Energy Ohio | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 189 638
Short-term money pool/intercompany borrowings 162 613
Duke Energy Ohio | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 27 27
Duke Energy Indiana    
Debt Instrument [Line Items]    
Unsecured Debt 390 393
First mortgage bonds 3,937 3,638
Finance leases 10 9
Tax exempt bonds 352 352
Unamortized debt discount and premium, net (16) (16)
Unamortized debt issuance costs (25) (25)
Total debt 4,808 4,758
Current maturities of long-term debt (4) (4)
Total long-term debt 4,794 4,498
Short term obligations classified as long-term debt 435 435
Duke Energy Indiana | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 160 407
Short-term money pool/intercompany borrowings 10 256
Duke Energy Indiana | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 285 285
Piedmont    
Debt Instrument [Line Items]    
Unsecured Debt 4,030 3,695
Unamortized debt discount and premium, net (8) (8)
Unamortized debt issuance costs (19) (19)
Total debt 4,742 4,206
Current maturities of long-term debt (205) (40)
Total long-term debt 3,798 3,628
Piedmont | Related Party    
Debt Instrument [Line Items]    
Money pool/intercompany borrowings 739 538
Short-term money pool/intercompany borrowings $ 739 $ 538
v3.25.0.1
Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]      
Current maturities of long-term debt   $ 4,349 $ 2,800
Duke Energy Florida      
Debt Instrument [Line Items]      
Current maturities of long-term debt   534 589
Duke Energy Ohio      
Debt Instrument [Line Items]      
Current maturities of long-term debt   245 0
Piedmont      
Debt Instrument [Line Items]      
Current maturities of long-term debt   205 40
Duke Energy Carolinas      
Debt Instrument [Line Items]      
Current maturities of long-term debt   521 19
Duke Energy Carolinas | Maturities Due January 2025 | Subsequent Event      
Debt Instrument [Line Items]      
Repayments of debt $ 500    
Duke Energy Progress      
Debt Instrument [Line Items]      
Current maturities of long-term debt   $ 983 $ 72
Unsecured Debt | Parent | Debt Maturing April 2025, 3.364% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.364%  
Current maturities of long-term debt   $ 420  
Unsecured Debt | Parent | Debt Maturing April 2025, 3.950% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.95%  
Current maturities of long-term debt   $ 250  
Unsecured Debt | Parent | Debt Maturing September 2025, 0.900% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   0.90%  
Current maturities of long-term debt   $ 650  
Unsecured Debt | Parent | Debt Maturing December 2025, 5.000% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.00%  
Current maturities of long-term debt   $ 500  
Unsecured Debt | Duke Energy Florida | Debt Maturing October 2025, 5.303% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.303%  
Current maturities of long-term debt   $ 100  
Unsecured Debt | Duke Energy Ohio | Debt Maturing June 2025, 6.900% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   6.90%  
Current maturities of long-term debt   $ 150  
Unsecured Debt | Duke Energy Ohio | Debt Maturing October 2025, 3.230% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.23%  
Current maturities of long-term debt   $ 95  
Unsecured Debt | Piedmont | Debt Maturing September 2025, 3.600% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.60%  
Current maturities of long-term debt   $ 150  
Secured Debt | Duke Energy Carolinas | Debt Maturing January 2025, 5.378% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.378%  
Current maturities of long-term debt   $ 305  
Secured Debt | Duke Energy Carolinas | Debt Maturing January 2025, 5.423% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.423%  
Current maturities of long-term debt   $ 195  
Secured Debt | Duke Energy Progress | Debt Maturing April 2025, 5.456% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.456%  
Current maturities of long-term debt   $ 240  
Secured Debt | Duke Energy Progress | Debt Maturing April 2025, 5.467% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   5.467%  
Current maturities of long-term debt   $ 160  
First Mortgage Bonds | Duke Energy Florida | Debt Maturing October 2073, 4.910% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.91%  
Current maturities of long-term debt   $ 200  
First Mortgage Bonds | Duke Energy Florida | Debt Maturing April 2074, 4.910% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   4.91%  
Current maturities of long-term debt   $ 173  
First Mortgage Bonds | Duke Energy Progress | Debt Maturing August 2025, 3.250% Coupon      
Debt Instrument [Line Items]      
Interest rate (as a percent)   3.25%  
Current maturities of long-term debt   $ 500  
Other      
Debt Instrument [Line Items]      
Current maturities of long-term debt   $ 261  
First Mortgage Bonds | Duke Energy Florida | Debt Maturing October 2073, 4.910% Coupon      
Debt Instrument [Line Items]      
Term (in years)   12 months  
First Mortgage Bonds | Duke Energy Florida | Debt Maturing April 2074, 4.910% Coupon      
Debt Instrument [Line Items]      
Term (in years)   12 months  
v3.25.0.1
Debt and Credit Facilities (Annual Maturities) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 $ 4,349
2026 4,925
2027 3,082
2028 3,937
2029 4,971
Thereafter 58,976
Total long-term debt, including current maturities 80,240
Unamortized debt discount and premium, net (1,000)
Purchase Accounting Adjustments  
Long-term Debt, Fiscal Year Maturity [Abstract]  
Unamortized debt discount and premium, net 1,004
Duke Energy Carolinas  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 521
2026 1,078
2027 26
2028 976
2029 778
Thereafter 14,214
Total long-term debt, including current maturities 17,593
Progress Energy  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 1,525
2026 539
2027 807
2028 1,411
2029 1,618
Thereafter 18,786
Total long-term debt, including current maturities 24,686
Duke Energy Progress  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 984
2026 470
2027 89
2028 593
2029 847
Thereafter 9,610
Total long-term debt, including current maturities 12,593
Duke Energy Florida  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 541
2026 69
2027 718
2028 819
2029 771
Thereafter 7,525
Total long-term debt, including current maturities 10,443
Duke Energy Ohio  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 245
2026 45
2027 77
2028 40
2029 530
Thereafter 3,270
Total long-term debt, including current maturities 4,207
Duke Energy Indiana  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 4
2026 4
2027 27
2028 7
2029 155
Thereafter 4,643
Total long-term debt, including current maturities 4,840
Piedmont  
Long-term Debt, Fiscal Year Maturity [Abstract]  
2025 205
2026 40
2027 300
2029 660
Thereafter 2,825
Total long-term debt, including current maturities $ 4,030
v3.25.0.1
Debt and Credit Facilities (Short Term Obligations Classified As Long Term) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt $ 937 $ 937
Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 312 312
Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 625 625
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 300 300
Duke Energy Carolinas | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Duke Energy Carolinas | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 300 300
Duke Energy Progress    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 150 150
Duke Energy Progress | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt   0
Duke Energy Progress | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 150 150
Duke Energy Ohio    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 52 52
Duke Energy Ohio | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 27 27
Duke Energy Ohio | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 25 25
Duke Energy Indiana    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 435 435
Duke Energy Indiana | Tax-exempt bonds    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt 285 285
Duke Energy Indiana | Commercial Paper    
Debt Instrument [Line Items]    
Short term obligations classified as long-term debt $ 150 $ 150
v3.25.0.1
Debt and Credit Facilities (Narrative) (Details)
 1 Months Ended 2 Months Ended 3 Months Ended 12 Months Ended
Nov. 07, 2024
USD ($)
Jun. 30, 2023
day
Apr. 03, 2023
Jan. 31, 2025
USD ($)
Apr. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Jan. 31, 2024
USD ($)
Apr. 30, 2023
USD ($)
$ / shares
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Feb. 27, 2025
USD ($)
Dec. 31, 2024
USD ($)
$ / shares
Jun. 30, 2024
USD ($)
Dec. 31, 2023
USD ($)
$ / shares
Mar. 31, 2023
USD ($)
Mar. 30, 2022
USD ($)
Debt Instrument [Line Items]                                  
Debt issuances                         $ 7,740,000,000   $ 9,825,000,000    
Common stock, par value (in usd per share) | $ / shares                         $ 0.001   $ 0.001    
Demand notes, maximum amount available for sale                   $ 4,000,000,000              
Demand notes, maximum amount outstanding                   $ 2,000,000,000              
Principal amount of demand notes                         $ 1,070,000,000   $ 985,000,000    
Current maturities of long-term debt                         4,349,000,000   2,800,000,000    
Other loans outstanding against cash surrender value of life insurance policies                         $ 903,000,000   873,000,000    
Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 9,000,000,000     $ 9,000,000,000  
Letters of Credit Outstanding, Amount                         18,000,000        
June 2017 Three Year Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Term (in years)                   3 years 3 years            
4.25% Convertible Senior notes Due April 2026                                  
Debt Instrument [Line Items]                                  
Interest rate (as a percent)               4.125%                  
4.25% Convertible Senior notes Due April 2026 | Convertible Debt | Debt Conversion Terms One                                  
Debt Instrument [Line Items]                                  
Trading days (in days) | day   20                              
Consecutive trading days (in days) | day   30                              
Debt conversion rate (as a percent)   130.00%                              
4.25% Convertible Senior notes Due April 2026 | Convertible Debt | Debt Conversion Terms Two                                  
Debt Instrument [Line Items]                                  
Trading days (in days) | day   5                              
Consecutive trading days (in days) | day   10                              
Debt conversion rate (as a percent)   98.00%                              
Term Loan Due April 2024                                  
Debt Instrument [Line Items]                                  
Repayments of debt                             800,000,000    
Duke Energy Term Loan Facility | Line of Credit                                  
Debt Instrument [Line Items]                                  
Term (in years) 2 years                                
Duke Energy Carolinas                                  
Debt Instrument [Line Items]                                  
Debt issuances                         1,000,000,000   2,650,000,000    
Current maturities of long-term debt                         $ 521,000,000   19,000,000    
Duke Energy Carolinas | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Duke Energy Carolinas | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 1,400,000,000        
Letters of Credit Outstanding, Amount                         4,000,000        
Duke Energy Carolinas | First Mortgage Bonds | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Debt issuances       $ 1,100,000,000                          
Duke Energy Carolinas | January 2025 First Mortgage Loans, Five Year Tranche | First Mortgage Bonds | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Debt issuances       $ 400,000,000                          
Term (in years)       5 years                          
Interest rate (as a percent)       4.85%                          
Duke Energy Carolinas | January 2025 First Mortgage Loans, Ten Year Tranche | First Mortgage Bonds | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Debt issuances       $ 700,000,000                          
Term (in years)       10 years                          
Interest rate (as a percent)       5.25%                          
Duke Energy Carolinas | Maturities Due January 2025 | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Repayments of debt       $ 500,000,000                          
Duke Energy Carolinas | Duke Energy Term Loan Facility | Line of Credit                                  
Debt Instrument [Line Items]                                  
Facility size $ 700,000,000                                
Drawings on credit facility                         455,000,000        
Facility increase $ 300,000,000                                
Duke Energy Carolinas | Duke Energy Term Loan Facility | Line of Credit | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Drawings on credit facility                       $ 145,000,000          
Parent                                  
Debt Instrument [Line Items]                                  
Debt issuances                         4,565,000,000   3,075,000,000    
Parent | Line of Credit | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Repayments of debt             $ 1,000,000,000   $ 400,000,000                
Facility size                     $ 1,400,000,000           $ 1,000,000,000
Parent | 4.25% Convertible Senior notes Due April 2026                                  
Debt Instrument [Line Items]                                  
Debt issuances               $ 1,700,000,000                  
Debt conversion rate (as a percent)     25.00%                            
Common stock, par value (in usd per share) | $ / shares               $ 0.001                  
Conversion ratio               0.0084131                  
Parent | Duke Energy Term Loan Facility | Line of Credit                                  
Debt Instrument [Line Items]                                  
Term (in years)           364 days                      
Repayments of debt                           $ 500,000,000      
Facility size           $ 700,000,000                      
Drawings on credit facility         $ 500,000,000                        
Duke Energy Florida                                  
Debt Instrument [Line Items]                                  
Debt issuances                         173,000,000   1,500,000,000    
Current maturities of long-term debt                         $ 534,000,000   $ 589,000,000    
Duke Energy Florida | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Duke Energy Florida | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 875,000,000        
Letters of Credit Outstanding, Amount                         7,000,000        
Duke Energy Florida | Duke Energy Term Loan Facility | Line of Credit                                  
Debt Instrument [Line Items]                                  
Term (in years) 364 days                                
Facility size $ 800,000,000                                
Drawings on credit facility                         $ 100,000,000        
Facility increase 400,000,000                                
Duke Energy Florida | Duke Energy Term Loan Facility | Line of Credit | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Drawings on credit facility                       700,000,000          
Progress Energy                                  
Debt Instrument [Line Items]                                  
Common stock, par value (in usd per share) | $ / shares                         $ 0.01   $ 0.01    
Current maturities of long-term debt                         $ 1,517,000,000   $ 661,000,000    
Progress Energy | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Progress Energy | Line of Credit | Revolving Credit Facility | Progress Energy                                  
Debt Instrument [Line Items]                                  
Facility size                     $ 2,500,000,000            
Duke Energy Ohio                                  
Debt Instrument [Line Items]                                  
Debt issuances                         $ 650,000,000   $ 750,000,000    
Common stock, par value (in usd per share) | $ / shares                         $ 8.50   $ 8.50    
Current maturities of long-term debt                         $ 245,000,000   $ 0    
Duke Energy Ohio | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Duke Energy Ohio | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 1,050,000,000        
Duke Energy Indiana                                  
Debt Instrument [Line Items]                                  
Debt issuances                         300,000,000   500,000,000    
Current maturities of long-term debt                         $ 4,000,000   4,000,000    
Duke Energy Indiana | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Duke Energy Indiana | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 950,000,000        
Duke Energy Progress                                  
Debt Instrument [Line Items]                                  
Debt issuances                         677,000,000   1,000,000,000    
Current maturities of long-term debt                         983,000,000   72,000,000    
Other loans outstanding against cash surrender value of life insurance policies                         $ 32,000,000   32,000,000    
Duke Energy Progress | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.65        
Duke Energy Progress | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 1,500,000,000        
Letters of Credit Outstanding, Amount                         1,000,000        
Duke Energy Progress | Duke Energy Term Loan Facility | Line of Credit                                  
Debt Instrument [Line Items]                                  
Facility size 250,000,000                                
Drawings on credit facility                         185,000,000        
Facility increase $ 150,000,000                                
Duke Energy Progress | Duke Energy Term Loan Facility | Line of Credit | Subsequent Event                                  
Debt Instrument [Line Items]                                  
Drawings on credit facility                       $ 65,000,000          
Piedmont                                  
Debt Instrument [Line Items]                                  
Debt issuances                         $ 375,000,000   $ 350,000,000    
Common stock, par value (in usd per share) | $ / shares                         $ 0   $ 0    
Current maturities of long-term debt                         $ 205,000,000   $ 40,000,000    
Piedmont | Maximum                                  
Debt Instrument [Line Items]                                  
Debt to total capitalization percentage, for each borrower                         0.70        
Piedmont | Revolving Credit Facility                                  
Debt Instrument [Line Items]                                  
Facility size                         $ 950,000,000        
v3.25.0.1
Debt and Credit Facilities (Summary of Debt Issuances) (Details)
€ in Millions
 1 Months Ended 12 Months Ended
Mar. 31, 2024
USD ($)
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jan. 31, 2025
USD ($)
Apr. 30, 2024
USD ($)
Apr. 30, 2024
EUR (€)
Debt Instrument [Line Items]              
Debt issuances   $ 7,740,000,000 $ 9,825,000,000        
Repayments of long-term debt   $ 3,357,000,000 $ 4,737,000,000 $ 4,396,000,000      
4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   4.85%          
Debt issuances   $ 600,000,000          
4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   4.85%          
Debt issuances   $ 650,000,000          
April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.648%          
Debt issuances   $ 815,000,000       $ 815,000,000  
June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.45%          
Debt issuances   $ 750,000,000          
June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.80%          
Debt issuances   $ 750,000,000          
June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.90%          
Debt issuances   $ 80,000,000          
June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   6.00%          
Debt issuances   $ 95,000,000          
June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   6.17%          
Debt issuances   $ 50,000,000          
August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.10%          
Debt issuances   $ 375,000,000          
August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   6.45%          
Debt issuances   $ 1,000,000,000          
Discount rate (as a percent)   2.588%          
Interest rate reset period (in years)   5 years          
Percentage of principal   100.00%          
April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.404%          
Debt issuances   $ 177,000,000          
4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)   4.85%          
Debt issuances   $ 575,000,000          
5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.40%          
Debt issuances   $ 425,000,000          
5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.25%          
Debt issuances   $ 300,000,000          
5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.10%          
Debt issuances   $ 500,000,000          
5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)   5.55%          
Debt issuances   $ 425,000,000          
April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)   4.91%          
Debt issuances   $ 173,000,000          
Maturities Due March 2024              
Debt Instrument [Line Items]              
Repayments of debt $ 1,000,000,000            
Senior Notes 3.75 Percent Due 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)           3.75% 3.75%
Debt issuances | €             € 750
Debt maturing April 2024 | Secured Debt              
Debt Instrument [Line Items]              
Debt repurchased           $ 1,000,000,000  
4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)     4.125%        
Debt issuances     $ 1,725,000,000        
5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.40%        
Debt issuances     $ 350,000,000        
Sept 2023 5.75% Notes Due Sept 2033 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.75%        
Debt issuances     $ 600,000,000        
Sept 2023 4.300% Notes Due Sept 2053 | Unsecured Debt              
Debt Instrument [Line Items]              
Interest rate (as a percent)     6.10%        
Debt issuances     $ 750,000,000        
4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     4.95%        
Debt issuances     $ 900,000,000        
4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     4.95%        
Debt issuances     $ 350,000,000        
5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.40%        
Debt issuances     $ 500,000,000        
4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     4.91%        
Debt issuances     $ 200,000,000        
November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.875%        
Debt issuances     $ 600,000,000        
5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.35%        
Debt issuances     $ 900,000,000        
5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.25%        
Debt issuances     $ 500,000,000        
5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.35%        
Debt issuances     $ 500,000,000        
5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.25%        
Debt issuances     $ 375,000,000        
5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.65%        
Debt issuances     $ 375,000,000        
5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     5.40%        
Debt issuances     $ 500,000,000        
November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Interest rate (as a percent)     6.20%        
Debt issuances     $ 700,000,000        
Maturities Due October 2023 (3)              
Debt Instrument [Line Items]              
Repayments of debt     45,000,000        
Maturities Due October 2023              
Debt Instrument [Line Items]              
Repayments of debt     400,000,000        
Maturities Due March 2023              
Debt Instrument [Line Items]              
Repayments of debt     1,000,000,000        
Maturities Due September 2023              
Debt Instrument [Line Items]              
Repayments of debt     300,000,000        
Maturities Due October 2023, Portion              
Debt Instrument [Line Items]              
Repayments of debt     100,000,000        
Maturities Due October 2023 (2)              
Debt Instrument [Line Items]              
Repayments of debt     300,000,000        
Term Loan Due April 2024              
Debt Instrument [Line Items]              
Repayments of debt     800,000,000        
Parent              
Debt Instrument [Line Items]              
Debt issuances   4,565,000,000 3,075,000,000        
Parent | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   600,000,000          
Parent | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   650,000,000          
Parent | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   815,000,000          
Parent | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   750,000,000          
Parent | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   750,000,000          
Parent | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   1,000,000,000          
Parent | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Parent | 4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances     1,725,000,000        
Parent | 5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | Sept 2023 5.75% Notes Due Sept 2033 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances     600,000,000        
Parent | Sept 2023 4.300% Notes Due Sept 2053 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances     750,000,000        
Parent | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Parent | November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas              
Debt Instrument [Line Items]              
Debt issuances   1,000,000,000 2,650,000,000        
Repayments of long-term debt   19,000,000 1,042,000,000 436,000,000      
Duke Energy Carolinas | First Mortgage Bonds | Subsequent Event              
Debt Instrument [Line Items]              
Debt issuances         $ 1,100,000,000    
Duke Energy Carolinas | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   575,000,000          
Duke Energy Carolinas | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   425,000,000          
Duke Energy Carolinas | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Carolinas | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     900,000,000        
Duke Energy Carolinas | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     350,000,000        
Duke Energy Carolinas | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     500,000,000        
Duke Energy Carolinas | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     900,000,000        
Duke Energy Carolinas | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Carolinas | November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress              
Debt Instrument [Line Items]              
Debt issuances   677,000,000 1,000,000,000        
Repayments of long-term debt   72,000,000 369,000,000 645,000,000      
Duke Energy Progress | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   177,000,000          
Duke Energy Progress | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   500,000,000          
Duke Energy Progress | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Progress | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     500,000,000        
Duke Energy Progress | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     500,000,000        
Duke Energy Progress | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Progress | November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Florida              
Debt Instrument [Line Items]              
Debt issuances   173,000,000 1,500,000,000        
Repayments of long-term debt   395,000,000 879,000,000 77,000,000      
Duke Energy Florida | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Florida | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   173,000,000          
Duke Energy Florida | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     200,000,000        
Duke Energy Florida | November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     600,000,000        
Duke Energy Florida | November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     700,000,000        
Piedmont              
Debt Instrument [Line Items]              
Debt issuances   375,000,000 350,000,000        
Repayments of long-term debt   40,000,000 45,000,000 0      
Piedmont | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   375,000,000          
Piedmont | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Piedmont | 4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances     350,000,000        
Piedmont | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Piedmont | November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Ohio              
Debt Instrument [Line Items]              
Debt issuances   650,000,000 750,000,000        
Repayments of long-term debt   0 500,000,000 0      
Duke Energy Ohio | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   80,000,000          
Duke Energy Ohio | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   95,000,000          
Duke Energy Ohio | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   50,000,000          
Duke Energy Ohio | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   425,000,000          
Duke Energy Ohio | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Ohio | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     375,000,000        
Duke Energy Ohio | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     375,000,000        
Duke Energy Indiana              
Debt Instrument [Line Items]              
Debt issuances   300,000,000 500,000,000        
Repayments of long-term debt   4,000,000 303,000,000 $ 84,000,000      
Duke Energy Indiana | 4.85% January 2024 2024 Notes Due January 2027 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | 4.85% January 2024 2024 Notes Due January 2029 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | April 2024 5.648% Notes Due April 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | June 2024 5.450% Notes Due June 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | June 2024 5.800% Notes Due June 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | June 2024 5.900% Notes Due June 2031 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | June 2024 6.000% Notes Due July 2034 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | June 2024 6.170% Notes Due July 2039 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | August 2024 5.100% Notes Due February 2035 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | August 2024 6.450% Notes Due September 2054 | Unsecured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | April 2024 5.404% Notes | Secured Debt              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | 4.85% January 2024 Notes Due January 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | 5.40% January 2024 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | 5.25% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   300,000,000          
Duke Energy Indiana | 5.10% March 2024 Notes Due March 2034 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | 5.55% March 2024 Notes Due March 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   0          
Duke Energy Indiana | April 2024 Notes Due April 2074 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances   $ 0          
Duke Energy Indiana | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 4.960% September 2023 Notes Due October 2073 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | November 2023 Notes Due November 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.250% March 2023 Notes Due March 2033 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.350% March 2023 Notes Due March 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.250% March 2023 Notes Due April 2033 (2) | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.650% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     0        
Duke Energy Indiana | 5.400% March 2023 Notes Due April 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     500,000,000        
Duke Energy Indiana | November 2023 Notes Due November 2053 | First Mortgage Bonds              
Debt Instrument [Line Items]              
Debt issuances     $ 0        
v3.25.0.1
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Mar. 31, 2023
Line of Credit Facility [Line Items]      
Tax-exempt bonds $ (1,331,000,000) $ (1,331,000,000)  
Duke Energy Progress      
Line of Credit Facility [Line Items]      
Tax-exempt bonds (500,000,000) (500,000,000)  
Duke Energy Ohio      
Line of Credit Facility [Line Items]      
Tax-exempt bonds (77,000,000) (77,000,000)  
Duke Energy Indiana      
Line of Credit Facility [Line Items]      
Tax-exempt bonds (352,000,000) $ (352,000,000)  
Revolving Credit Facility      
Line of Credit Facility [Line Items]      
Facility size 9,000,000,000   $ 9,000,000,000
Commercial paper (3,143,000,000)    
Outstanding letters of credit (18,000,000)    
Tax-exempt bonds (81,000,000)    
Available capacity 5,758,000,000    
Revolving Credit Facility | Duke Energy Carolinas      
Line of Credit Facility [Line Items]      
Facility size 1,400,000,000    
Commercial paper (300,000,000)    
Outstanding letters of credit (4,000,000)    
Available capacity 1,096,000,000    
Revolving Credit Facility | Duke Energy Progress      
Line of Credit Facility [Line Items]      
Facility size 1,500,000,000    
Commercial paper (736,000,000)    
Outstanding letters of credit (1,000,000)    
Available capacity 763,000,000    
Revolving Credit Facility | Duke Energy Florida      
Line of Credit Facility [Line Items]      
Facility size 875,000,000    
Commercial paper (448,000,000)    
Outstanding letters of credit (7,000,000)    
Available capacity 420,000,000    
Revolving Credit Facility | Duke Energy Ohio      
Line of Credit Facility [Line Items]      
Facility size 1,050,000,000    
Commercial paper (182,000,000)    
Available capacity 868,000,000    
Revolving Credit Facility | Duke Energy Indiana      
Line of Credit Facility [Line Items]      
Facility size 950,000,000    
Commercial paper (160,000,000)    
Tax-exempt bonds (81,000,000)    
Available capacity 709,000,000    
Revolving Credit Facility | Piedmont      
Line of Credit Facility [Line Items]      
Facility size 950,000,000    
Commercial paper (709,000,000)    
Available capacity 241,000,000    
Revolving Credit Facility | Parent Company      
Line of Credit Facility [Line Items]      
Facility size 2,275,000,000    
Commercial paper (608,000,000)    
Outstanding letters of credit (6,000,000)    
Available capacity 1,661,000,000    
Revolving Credit Facility | Parent Company | Proceeds Loaned To Subsidiary Registrants      
Line of Credit Facility [Line Items]      
Commercial paper $ (625,000,000)    
v3.25.0.1
Guarantees and Indemnifications (Narrative) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Noncurrent Liabilities    
Guarantor Obligations [Line Items]    
Face value of guarantees $ 2 $ 2
Letters of credit    
Guarantor Obligations [Line Items]    
Maximum potential amount of future payments associated with guarantees 339  
Performance guarantee | Customers and other third parties    
Guarantor Obligations [Line Items]    
Maximum potential amount of future payments associated with guarantees 26  
Performance guarantee | Spectra Capital    
Guarantor Obligations [Line Items]    
Maximum potential amount of future payments associated with guarantees $ 25  
v3.25.0.1
Joint Ownership of Generating and Transmission Facilities (Schedule Joint Ownership of Generating and Transmission Facilities) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Duke Energy Carolinas | Catawba (units 1 and 2)  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 19.25%
Property, plant, and equipment $ 1,047
Accumulated depreciation 594
Construction work in progress $ 30
Duke Energy Carolinas | W.S. Lee CC  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 87.27%
Property, plant, and equipment $ 654
Accumulated depreciation 118
Construction work in progress $ 6
Duke Energy Indiana | Gibson (unit 5)  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 50.05%
Property, plant, and equipment $ 400
Accumulated depreciation 266
Construction work in progress $ 5
Duke Energy Indiana | Vermillion  
Jointly Owned Utility Plant Interests [Line Items]  
Ownership interest (as a percent) 62.50%
Property, plant, and equipment $ 184
Accumulated depreciation 124
Duke Energy Indiana | Transmission and local facilities  
Jointly Owned Utility Plant Interests [Line Items]  
Property, plant, and equipment 7,771
Accumulated depreciation 1,654
Construction work in progress $ 222
v3.25.0.1
Asset Retirement Obligations (Recorded on the Balance Sheet) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation $ 9,992 $ 9,156 $ 12,728
Less: Current portion 650 596  
Total noncurrent asset retirement obligation 9,342 8,560  
Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,493    
Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 5,173    
Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 326    
Duke Energy Carolinas      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 3,990 4,013 5,382
Less: Current portion 247 224  
Total noncurrent asset retirement obligation 3,743 3,789  
Duke Energy Carolinas | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,050    
Duke Energy Carolinas | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,867    
Duke Energy Carolinas | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 73    
Progress Energy      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,548 4,145 6,181
Less: Current portion 231 245  
Total noncurrent asset retirement obligation 4,317 3,900  
Progress Energy | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,425    
Progress Energy | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,993    
Progress Energy | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 130    
Duke Energy Progress      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 4,334 3,870 5,823
Less: Current portion 230 244  
Total noncurrent asset retirement obligation 4,104 3,626  
Duke Energy Progress | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 2,318    
Duke Energy Progress | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,975    
Duke Energy Progress | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 41    
Duke Energy Florida      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 214 275 358
Less: Current portion 1 1  
Total noncurrent asset retirement obligation 213 274  
Duke Energy Florida | Decommissioning of nuclear power facilities      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 107    
Duke Energy Florida | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 18    
Duke Energy Florida | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 89    
Duke Energy Ohio      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 139 136 154
Less: Current portion 8 6  
Total noncurrent asset retirement obligation 131 130  
Duke Energy Ohio | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 72    
Duke Energy Ohio | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 67    
Duke Energy Indiana      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,268 809 951
Less: Current portion 164 120  
Total noncurrent asset retirement obligation 1,104 689  
Duke Energy Indiana | Closure of ash impoundments      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 1,241    
Duke Energy Indiana | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 27    
Piedmont      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation 29 26 $ 26
Total noncurrent asset retirement obligation 29 $ 26  
Piedmont | Other      
Asset Retirement Obligation [Line Items]      
Total asset retirement obligation $ 29    
v3.25.0.1
Asset Retirement Obligations (NDTF Information) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
NDTF Information [Abstract]    
Decommissioning costs $ 9,031  
Legally restricted NDTF investments, fair value 10,044 $ 8,851
Duke Energy Carolinas    
NDTF Information [Abstract]    
Decommissioning costs 4,439  
Legally restricted NDTF investments, fair value 5,687 5,002
Duke Energy Progress    
NDTF Information [Abstract]    
Decommissioning costs 4,477  
Legally restricted NDTF investments, fair value 4,357 3,849
Duke Energy Florida    
NDTF Information [Abstract]    
Decommissioning costs 115  
Progress Energy    
NDTF Information [Abstract]    
Decommissioning costs 4,592  
Legally restricted NDTF investments, fair value $ 4,357 $ 3,849
v3.25.0.1
Asset Retirement Obligations (Narrative) (Details)
 12 Months Ended
Dec. 31, 2024
Nuclear Regulatory Commission  
Asset Retirement Obligation [Line Items]  
Operating license extension (in years) 20 years
v3.25.0.1
Asset Retirement Obligations (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Asset Retirement Obligation [Line Items]    
Beginning Balance $ 9,156 $ 12,728
Accretion expense 434 523
Liabilities settled (634) (758)
Liabilities incurred in the current year 20 29
Revisions in estimates of cash flows 1,016 (3,366)
Ending Balance 9,992 9,156
Duke Energy Carolinas    
Asset Retirement Obligation [Line Items]    
Beginning Balance 4,013 5,382
Accretion expense 183 254
Liabilities settled (212) (256)
Liabilities incurred in the current year 8 3
Revisions in estimates of cash flows (2) (1,370)
Ending Balance 3,990 4,013
Progress Energy    
Asset Retirement Obligation [Line Items]    
Beginning Balance 4,145 6,181
Accretion expense 199 237
Liabilities settled (321) (379)
Liabilities incurred in the current year 12 21
Revisions in estimates of cash flows 513 (1,915)
Ending Balance 4,548 4,145
Duke Energy Progress    
Asset Retirement Obligation [Line Items]    
Beginning Balance 3,870 5,823
Accretion expense 190 225
Liabilities settled (232) (292)
Liabilities incurred in the current year   6
Revisions in estimates of cash flows 506 (1,892)
Ending Balance 4,334 3,870
Duke Energy Florida    
Asset Retirement Obligation [Line Items]    
Beginning Balance 275 358
Accretion expense 9 12
Liabilities settled (89) (87)
Liabilities incurred in the current year 12 15
Revisions in estimates of cash flows 7 (23)
Ending Balance 214 275
Duke Energy Ohio    
Asset Retirement Obligation [Line Items]    
Beginning Balance 136 154
Accretion expense 7 7
Liabilities settled (7) (15)
Liabilities incurred in the current year   1
Revisions in estimates of cash flows 3 (11)
Ending Balance 139 136
Duke Energy Indiana    
Asset Retirement Obligation [Line Items]    
Beginning Balance 809 951
Accretion expense 49 33
Liabilities settled (94) (108)
Liabilities incurred in the current year   4
Revisions in estimates of cash flows 504 (71)
Ending Balance 1,268 809
Piedmont    
Asset Retirement Obligation [Line Items]    
Beginning Balance 26 26
Accretion expense 2 1
Revisions in estimates of cash flows 1 (1)
Ending Balance $ 29 $ 26
v3.25.0.1
Property, Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 13 years 14 years
Land $ 2,569 $ 2,345
Other buildings and improvements 6,855 6,922
Equipment 3,863 3,409
Construction in process 7,850 8,372
Total property, plant and equipment 180,806 171,353
Total net property, plant and equipment $ 123,303 $ 115,315
Other, estimated useful life, in years 10 years 12 years
Finance leases, gross $ 670 $ 697
Accumulated amortization of finance leases   (3)
Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 3,518 3,303
Accumulated depreciation and amortization (1,824) (1,793)
Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization $ (55,535) $ (54,323)
Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 37 years 40 years
Plant - transmission and distribution $ 137,836 $ 129,985
Regulated | Natural gas transmission and distribution    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 58 years 57 years
Plant - transmission and distribution $ 15,333 $ 14,130
Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Average remaining useful life (in years) 41 years 42 years
Other buildings and improvements $ 2,982 $ 2,887
Nonregulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (1,968) (1,715)
Accumulated amortization of finance leases (25) (7)
Duke Energy Carolinas    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 617 581
Other buildings and improvements 1,227 1,455
Equipment 997 870
Construction in process 2,735 2,578
Total property, plant and equipment 58,382 56,670
Total net property, plant and equipment 39,292 36,774
Finance leases, gross 336 335
Accumulated amortization of finance leases (84) (67)
Duke Energy Carolinas | Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 2,003 1,866
Accumulated depreciation and amortization (1,010) (991)
Duke Energy Carolinas | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (19,090) (19,896)
Duke Energy Carolinas | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 49,547 48,107
Duke Energy Carolinas | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 1,256 1,213
Progress Energy    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 1,134 1,012
Other buildings and improvements 1,953 2,037
Equipment 1,252 1,104
Construction in process 3,657 3,941
Total property, plant and equipment 72,560 67,644
Total net property, plant and equipment 48,974 45,344
Finance leases, gross 620 615
Accumulated amortization of finance leases (159) (292)
Progress Energy | Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 1,515 1,437
Accumulated depreciation and amortization (814) (802)
Progress Energy | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (23,586) (22,300)
Progress Energy | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 62,351 57,436
Progress Energy | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 698 677
Duke Energy Progress    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 535 502
Other buildings and improvements 1,349 1,481
Equipment 753 654
Construction in process 1,884 1,661
Total property, plant and equipment 42,060 39,283
Total net property, plant and equipment 26,130 24,056
Finance leases, gross 512 552
Accumulated amortization of finance leases   (119)
Duke Energy Progress | Nuclear fuel    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Nuclear fuel 1,515 1,437
Accumulated depreciation and amortization (814) (802)
Duke Energy Progress | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (15,930) (15,227)
Duke Energy Progress | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 35,633 33,171
Duke Energy Progress | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 391 377
Duke Energy Florida    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 599 510
Other buildings and improvements 594 548
Equipment 499 450
Construction in process 1,773 2,280
Total property, plant and equipment 30,490 28,353
Total net property, plant and equipment 22,840 21,286
Finance leases, gross 108 63
Accumulated amortization of finance leases   (173)
Duke Energy Florida | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (7,650) (7,067)
Duke Energy Florida | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 26,718 24,265
Duke Energy Florida | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 307 300
Duke Energy Ohio    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 258 242
Other buildings and improvements 426 410
Equipment 542 474
Construction in process 385 427
Total property, plant and equipment 13,918 13,210
Total net property, plant and equipment 10,244 9,759
Duke Energy Ohio | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (3,674) (3,451)
Duke Energy Ohio | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 7,634 7,243
Duke Energy Ohio | Regulated | Natural gas transmission and distribution    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 4,255 3,993
Duke Energy Ohio | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 418 421
Duke Energy Indiana    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 144 133
Other buildings and improvements 254 344
Equipment 490 442
Construction in process 406 427
Total property, plant and equipment 19,970 18,900
Total net property, plant and equipment 13,122 12,399
Finance leases, gross 10 10
Accumulated amortization of finance leases (4) (4)
Duke Energy Indiana | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (6,848) (6,501)
Duke Energy Indiana | Regulated | Electric generation, distribution and transmission    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 18,304 17,199
Duke Energy Indiana | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements 372 355
Piedmont    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Land 391 352
Other buildings and improvements 498 365
Equipment 170 143
Construction in process 405 690
Total property, plant and equipment 12,780 11,908
Total net property, plant and equipment 10,348 9,649
Piedmont | Regulated    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Accumulated depreciation and amortization (2,432) (2,259)
Piedmont | Regulated | Natural gas transmission and distribution    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Plant - transmission and distribution 11,078 10,137
Piedmont | Regulated | Other buildings and improvements    
Public Utilities, Property, Plant and Equipment, Net [Abstract]    
Other buildings and improvements $ 238 $ 221
v3.25.0.1
Property, Plant and Equipment (Schedule of Capitalized Interest) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Property, Plant and Equipment [Line Items]      
Capitalized interest $ 201 $ 201 $ 118
Duke Energy Carolinas      
Property, Plant and Equipment [Line Items]      
Capitalized interest 61 62 50
Progress Energy      
Property, Plant and Equipment [Line Items]      
Capitalized interest 57 41 26
Duke Energy Progress      
Property, Plant and Equipment [Line Items]      
Capitalized interest 52 35 19
Duke Energy Florida      
Property, Plant and Equipment [Line Items]      
Capitalized interest 5 6 7
Duke Energy Ohio      
Property, Plant and Equipment [Line Items]      
Capitalized interest 14 16 14
Duke Energy Indiana      
Property, Plant and Equipment [Line Items]      
Capitalized interest 13 21  
PISCC amortization     (3)
Piedmont      
Property, Plant and Equipment [Line Items]      
Capitalized interest $ 8 $ 8 $ 4
v3.25.0.1
Goodwill and Intangible Assets (Narrative) (Details) - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Goodwill [Line Items]    
Goodwill $ 19,303,000,000 $ 19,303,000,000
Goodwill accumulated impairment loss 0 0
Impairment charges 0  
Electric Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 17,400,000,000 17,400,000,000
Gas Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 1,900,000,000 1,900,000,000
Duke Energy Ohio    
Goodwill [Line Items]    
Goodwill 920,000,000 920,000,000
Goodwill accumulated impairment loss 216,000,000 216,000,000
Duke Energy Ohio | Electric Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 596,000,000 596,000,000
Duke Energy Ohio | Gas Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 324,000,000 324,000,000
Progress Energy    
Goodwill [Line Items]    
Goodwill 3,655,000,000 3,655,000,000
Progress Energy | Electric Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill accumulated impairment loss 0  
Piedmont    
Goodwill [Line Items]    
Goodwill 49,000,000 $ 49,000,000
Piedmont | Gas Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill accumulated impairment loss $ 0  
v3.25.0.1
Goodwill and Intangible Assets (Schedule of Intangible Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts $ 296 $ 296
Total intangible assets, net 277 282
Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 8 8
Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 241 232
Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 47 56
Accumulated amortization (19) (14)
Duke Energy Carolinas    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 103 97
Total intangible assets, net 103 97
Duke Energy Carolinas | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 103 97
Progress Energy    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 146 143
Total intangible assets, net 143 140
Progress Energy | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 5 5
Progress Energy | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 136 133
Progress Energy | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 5 5
Accumulated amortization (3) (3)
Duke Energy Progress    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 139 136
Total intangible assets, net 139 136
Duke Energy Progress | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Duke Energy Progress | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 136 133
Duke Energy Progress | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 1 1
Duke Energy Florida    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 7 6
Total intangible assets, net 4 3
Duke Energy Florida | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 3 3
Duke Energy Florida | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 4 3
Accumulated amortization (3) (3)
Duke Energy Ohio    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Total intangible assets, net 2 2
Duke Energy Ohio | Renewable energy certificates    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Duke Energy Indiana    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Total intangible assets, net 2 2
Duke Energy Indiana | Emission allowances    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 2 2
Piedmont    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 22 22
Total intangible assets, net 13 16
Piedmont | Other    
Finite-Lived Intangible Assets, Net [Abstract]    
Total gross carrying amounts 22 22
Accumulated amortization $ (9) $ (6)
v3.25.0.1
Investments in Unconsolidated Affiliates (Investments in Equity Method Unconsolidated Affiliates) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments In Unconsolidated Affiliates [Line Items]      
Investments $ 353 $ 492  
Equity in (losses) earnings of unconsolidated affiliates (9) 113 $ 113
Electric Utilities and Infrastructure      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 28 97  
Equity in (losses) earnings of unconsolidated affiliates (11) 7 7
Gas Utilities and Infrastructure      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 186 259  
Equity in (losses) earnings of unconsolidated affiliates (48) 40 21
Other      
Investments In Unconsolidated Affiliates [Line Items]      
Investments 139 136  
Equity in (losses) earnings of unconsolidated affiliates $ 50 $ 66 $ 85
v3.25.0.1
Investments in Unconsolidated Affiliates (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Investments In Unconsolidated Affiliates [Line Items]      
Distributions from equity investments $ 66 $ 50 $ 111
Distributions from equity investments, return of capital $ 25 16 6
Electric Utilities and Infrastructure | DATC      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 50.00%    
Pretax charge $ 15    
Electric Utilities and Infrastructure | Pioneer      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 50.00%    
Gas Utilities and Infrastructure | Sabal Trail      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 7.50%    
Gas Utilities and Infrastructure | SustainRNG      
Investments In Unconsolidated Affiliates [Line Items]      
Pretax charge $ 54    
Other | NMC      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 17.50%    
Board representation and voting rights, ownership interest (as a percent) 25.00%    
Piedmont      
Investments In Unconsolidated Affiliates [Line Items]      
Distributions from equity investments $ 9 9 $ 31
Distributions from equity investments, return of capital $ 2 $ 1  
Piedmont | Gas Utilities and Infrastructure | Cardinal      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 21.49%    
Piedmont | Gas Utilities and Infrastructure | Pine Needle      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 45.00%    
Piedmont | Gas Utilities and Infrastructure | Hardy Storage      
Investments In Unconsolidated Affiliates [Line Items]      
Ownership interest (as a percent) 50.00%    
v3.25.0.1
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party $ 22,457 $ 22,042 $ 22,778
Duke Energy Carolinas      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 7,136 6,255 5,799
Duke Energy Carolinas | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 812 823 838
Duke Energy Carolinas | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 44 34 28
Duke Energy Carolinas | Joint Dispatch Agreement (JDA) revenue | Duke Energy Progress      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 187 177 600
Related party transaction, other revenues from transactions with related party 35 34 109
Duke Energy Carolinas | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 12 11 12
Progress Energy      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 10,234 10,485 10,297
Progress Energy | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 709 736 818
Progress Energy | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 57 47 43
Progress Energy | Joint Dispatch Agreement (JDA) revenue | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 35 34 109
Related party transaction, other revenues from transactions with related party 187 177 600
Progress Energy | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 75 75 76
Duke Energy Progress      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 5,316 5,041 5,351
Duke Energy Progress | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 426 434 469
Duke Energy Progress | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 23 20 20
Duke Energy Progress | Joint Dispatch Agreement (JDA) revenue | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 35 34 109
Related party transaction, other revenues from transactions with related party 187 177 600
Duke Energy Progress | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 75 75 76
Duke Energy Florida      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 4,898 5,426 4,933
Duke Energy Florida | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 283 302 349
Duke Energy Florida | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 34 27 23
Duke Energy Ohio      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 1,968 1,983 2,124
Duke Energy Ohio | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 304 294 334
Duke Energy Ohio | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 6 5 5
Duke Energy Indiana      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 2,361 2,655 3,656
Duke Energy Indiana | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 355 365 447
Duke Energy Indiana | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 10 8 8
Piedmont      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 1,098 1,066 1,680
Piedmont | Corporate governance and shared service expenses | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 166 149 155
Piedmont | Indemnification coverages | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party 4 4 3
Piedmont | Intercompany natural gas transactions | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, other revenues from transactions with related party 87 86 88
Piedmont | Natural gas storage and transportation costs | Related Party      
Related Party Transaction [Line Items]      
Related party transaction, expenses from transactions with related party $ 23 $ 24 $ 23
v3.25.0.1
Related Party Transactions (Intercompany Income Taxes) (Details) - Related Party - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Duke Energy Carolinas    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 419 $ 81
Progress Energy    
Related Party Transaction [Line Items]    
Intercompany income tax payable 169 92
Duke Energy Progress    
Related Party Transaction [Line Items]    
Intercompany income tax payable 315 94
Duke Energy Florida    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 154  
Intercompany income tax payable   114
Duke Energy Ohio    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   91
Intercompany income tax payable 43  
Duke Energy Indiana    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   53
Intercompany income tax payable 110  
Piedmont    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 43 $ 57
v3.25.0.1
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details)
Mcf in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
GWh
Mcf
Dec. 31, 2023
USD ($)
GWh
Mcf
Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 6,027 $ 5,027
Interest Rate Contracts | Designated contracts | Cash flow hedges    
Derivative [Line Items]    
Pay Notional 2,825 2,300
Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 3,202 $ 2,727
Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, electricity (in GWh) | GWh 12,229 13,608
Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 779 846
Duke Energy Carolinas | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 1,150 $ 1,050
Duke Energy Carolinas | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 1,150 $ 1,050
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 276 279
Progress Energy | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 1,775 $ 1,250
Progress Energy | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 1,775 $ 1,250
Progress Energy | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 246 274
Duke Energy Progress | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 1,125 $ 925
Duke Energy Progress | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 1,125 $ 925
Duke Energy Progress | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 246 274
Duke Energy Florida | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 650 $ 325
Duke Energy Florida | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional 650 325
Duke Energy Ohio | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional 27 27
Duke Energy Ohio | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 27 $ 27
Duke Energy Ohio | Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, electricity (in GWh) | GWh 1,287 1,616
Duke Energy Indiana | Interest Rate Contracts    
Derivative [Line Items]    
Pay Notional $ 250 $ 400
Duke Energy Indiana | Interest Rate Contracts | Undesignated contracts    
Derivative [Line Items]    
Pay Notional $ 250 $ 400
Duke Energy Indiana | Commodity contracts | Electricity (GWh)    
Derivative [Line Items]    
Notional amount, energy measure, electricity (in GWh) | GWh 10,942 11,992
Duke Energy Indiana | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 32 30
Piedmont | Commodity contracts | Natural gas (millions of Dth)    
Derivative [Line Items]    
Notional amount, volume of natural gas (in millions of Dth) | Mcf 225 263
v3.25.0.1
Derivatives and Hedging (Foreign Exchange Risk) (Details) - Foreign Currency Contracts - Designated contracts
€ in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2024
EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Pay Notional $ 1,997      
Receive notional | €       € 1,850
Fair value gain (loss) (113) $ 32 $ (5)  
Senior Notes, 3.10% Due June 2028        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Pay Notional $ 645      
Pay rate (as a percent) 4.75%     4.75%
Receive notional | €       € 600
Receive rate (as a percent) 0.0310     0.0310
Fair value gain (loss) $ (41) 17 (3)  
Senior Notes, 3.85% Due June 2034        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Pay Notional $ 537      
Pay rate (as a percent) 5.31%     5.31%
Receive notional | €       € 500
Receive rate (as a percent) 0.0385     0.0385
Fair value gain (loss) $ (34) $ 15 $ (2)  
Senior Notes, 3.75% Due April 2031        
Derivative Instruments and Hedging Activities Disclosures [Line Items]        
Pay Notional $ 815      
Pay rate (as a percent) 5.65%     5.65%
Receive notional | €       € 750
Receive rate (as a percent) 0.0375     0.0375
Fair value gain (loss) $ (38)      
v3.25.0.1
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Derivatives, Fair Value [Line Items]    
Total Derivative Assets $ 434 $ 189
Total Derivative Liabilities 319 729
Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 267 61
Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 167 128
Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 145 409
Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 174 320
Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 109 82
Total Derivative Liabilities 242 609
Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 320 63
Total Derivative Liabilities 3 103
Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 74 17
Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 5 44
Foreign Currency Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 5  
Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 108 31
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 52 17
Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   25
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   26
Designated as Hedging Instruments | Foreign Currency Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 35  
Designated as Hedging Instruments | Foreign Currency Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 39  
Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 49 25
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 60 57
Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 108 354
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 134 255
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 110 5
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 50  
Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 2 13
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 39
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   10
Not Designated as Hedging Instruments | Foreign Currency Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   17
Not Designated as Hedging Instruments | Foreign Currency Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   44
Duke Energy Carolinas    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 94 35
Total Derivative Liabilities 88 260
Duke Energy Carolinas | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 39 6
Duke Energy Carolinas | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 55 29
Duke Energy Carolinas | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 57 179
Duke Energy Carolinas | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 31 81
Duke Energy Carolinas | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 49 27
Total Derivative Liabilities 88 244
Duke Energy Carolinas | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 45 8
Total Derivative Liabilities   16
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 20 1
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 29 26
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 57 177
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 31 67
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 19 5
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 26  
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   2
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   14
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   3
Progress Energy    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 127 34
Total Derivative Liabilities 58 234
Progress Energy | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 72 3
Progress Energy | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 55 31
Progress Energy | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 34 149
Progress Energy | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 24 85
Progress Energy | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 49 34
Total Derivative Liabilities 56 199
Progress Energy | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 78  
Total Derivative Liabilities 2 35
Progress Energy | Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   0
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 17 3
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 32 31
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 32 138
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 24 61
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 55  
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 23  
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 2 11
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   24
Duke Energy Progress    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 109 32
Total Derivative Liabilities 57 219
Duke Energy Progress | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 61 1
Duke Energy Progress | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 48 31
Duke Energy Progress | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 33 149
Duke Energy Progress | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 24 70
Duke Energy Progress | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 49 32
Total Derivative Liabilities 56 199
Duke Energy Progress | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 60  
Total Derivative Liabilities 1 20
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 17 1
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 32 31
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 32 138
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 24 61
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 44  
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 16  
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 11
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   9
Duke Energy Florida    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 18 2
Total Derivative Liabilities 1 15
Duke Energy Florida | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 11 2
Duke Energy Florida | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 7  
Duke Energy Florida | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1  
Duke Energy Florida | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   15
Duke Energy Florida | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   2
Duke Energy Florida | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 18  
Total Derivative Liabilities 1 15
Duke Energy Florida | Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   0
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   2
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 11  
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 7  
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1  
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities   15
Duke Energy Ohio    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Total Derivative Liabilities 1 1
Duke Energy Ohio | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Duke Energy Ohio | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 1
Duke Energy Ohio | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Duke Energy Ohio | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 1
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 1 1
Duke Energy Indiana    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 44 25
Total Derivative Liabilities 3 18
Duke Energy Indiana | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 44 18
Duke Energy Indiana | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   7
Duke Energy Indiana | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 3 18
Duke Energy Indiana | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 8 18
Total Derivative Liabilities 3 18
Duke Energy Indiana | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 36 7
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 8 18
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 3 18
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 36  
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets   7
Piedmont    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Total Derivative Liabilities 94 147
Piedmont | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Piedmont | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 16 20
Piedmont | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 78 127
Piedmont | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Total Derivative Liabilities 94 147
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Assets    
Derivatives, Fair Value [Line Items]    
Total Derivative Assets 1 1
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities 16 20
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent Liabilities    
Derivatives, Fair Value [Line Items]    
Total Derivative Liabilities $ 78 $ 127
v3.25.0.1
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 434 $ 189
Net amounts presented in Current Assets: Other 238 59
Net amounts presented in Other Noncurrent Assets: Other 130 91
Foreign Currency Contracts    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 5 44
Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 267 61
Offset $ (29) $ (2)
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Current Assets: Other Current Assets: Other
Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 167 $ 128
Offset $ (37) $ (37)
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other (including amounts related to VIEs) Other (including amounts related to VIEs)
Noncurrent assets | Foreign Currency Contracts    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 5  
Duke Energy Carolinas    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 94 $ 35
Net amounts presented in Current Assets: Other 24 5
Net amounts presented in Other Noncurrent Assets: Other 36 15
Duke Energy Carolinas | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 39 6
Offset (15) (1)
Duke Energy Carolinas | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 55 29
Offset (19) (14)
Progress Energy    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 127 34
Net amounts presented in Current Assets: Other 58 2
Net amounts presented in Other Noncurrent Assets: Other 38 9
Progress Energy | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 72 3
Offset (14) (1)
Progress Energy | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 55 31
Offset (17) (22)
Duke Energy Progress    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 109 32
Net amounts presented in Current Assets: Other 47  
Net amounts presented in Other Noncurrent Assets: Other 31 9
Duke Energy Progress | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 61 1
Offset (14) (1)
Duke Energy Progress | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 48 31
Offset (17) (22)
Duke Energy Florida    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 18 2
Net amounts presented in Current Assets: Other 11 2
Net amounts presented in Other Noncurrent Assets: Other 7  
Duke Energy Florida | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 11 2
Duke Energy Florida | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 7  
Duke Energy Ohio    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1 1
Net amounts presented in Current Assets: Other 1 1
Duke Energy Ohio | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1 1
Duke Energy Indiana    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 44 25
Net amounts presented in Current Assets: Other 44 18
Net amounts presented in Other Noncurrent Assets: Other   7
Duke Energy Indiana | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 44 18
Duke Energy Indiana | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized   7
Piedmont    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1 1
Net amounts presented in Current Assets: Other 1 1
Piedmont | Current Assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 1 $ 1
v3.25.0.1
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 319 $ 729
Net amounts presented in Current Liabilities: Other 113 311
Net amounts presented in Other Noncurrent Liabilities: Other 133 217
Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 145 409
Offset (29) (2)
Cash collateral posted $ (3) $ (96)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Current Liabilities: Other Current Liabilities: Other
Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 174 $ 320
Offset (37) (37)
Cash collateral posted $ (4) $ (66)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other (includes $54 at 2023 related to VIEs) Other (includes $54 at 2023 related to VIEs)
Duke Energy Carolinas    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 88 $ 260
Net amounts presented in Current Liabilities: Other 40 130
Net amounts presented in Other Noncurrent Liabilities: Other 8 29
Duke Energy Carolinas | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 57 179
Offset (15) (1)
Cash collateral posted (2) (48)
Duke Energy Carolinas | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 31 81
Offset (19) (14)
Cash collateral posted (4) (38)
Progress Energy    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 58 234
Net amounts presented in Current Liabilities: Other 20 118
Net amounts presented in Other Noncurrent Liabilities: Other 7 35
Progress Energy | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 34 149
Offset (14) (1)
Cash collateral posted   (30)
Progress Energy | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 24 85
Offset (17) (22)
Cash collateral posted   (28)
Duke Energy Progress    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 57 219
Net amounts presented in Current Liabilities: Other 19 118
Net amounts presented in Other Noncurrent Liabilities: Other 7 20
Duke Energy Progress | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 33 149
Offset (14) (1)
Cash collateral posted   (30)
Duke Energy Progress | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 24 70
Offset (17) (22)
Cash collateral posted   (28)
Duke Energy Florida    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 15
Net amounts presented in Current Liabilities: Other 1  
Net amounts presented in Other Noncurrent Liabilities: Other   15
Duke Energy Florida | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1  
Duke Energy Florida | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized   15
Duke Energy Ohio    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 1
Net amounts presented in Other Noncurrent Liabilities: Other 1 1
Duke Energy Ohio | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 1
Duke Energy Indiana    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 3 18
Net amounts presented in Current Liabilities: Other 2  
Duke Energy Indiana | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 3 18
Cash collateral posted (1) (18)
Piedmont    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 94 147
Net amounts presented in Current Liabilities: Other 16 20
Net amounts presented in Other Noncurrent Liabilities: Other 78 127
Piedmont | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 16 20
Piedmont | Noncurrent Liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 78 $ 127
v3.25.0.1
Derivatives and Hedging (Derivative Instruments with Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position $ 101 $ 342
Fair value of collateral already posted 6 144
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 95 198
Duke Energy Carolinas    
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position 52 175
Fair value of collateral already posted 6 86
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 46 89
Progress Energy    
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position 49 166
Fair value of collateral already posted   58
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 49 108
Duke Energy Progress    
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position 49 166
Fair value of collateral already posted   58
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered $ 49 $ 108
v3.25.0.1
Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Debt Securities, Available-for-sale    
Estimated Fair Value $ 3,326  
Total Investments    
Unrealized Holding Gains 5,804 $ 5,019
Unrealized Holding Losses 219 171
Estimated Fair Value 11,905 10,603
NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 5,753 4,942
Gross Unrealized Holding Losses 61 22
Estimated Fair Value 8,233 7,278
Debt Securities, Available-for-sale    
Estimated Fair Value 3,060 2,732
Total Investments    
Unrealized Holding Gains 5,765 4,985
Unrealized Holding Losses 200 159
Estimated Fair Value 11,432 10,143
NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 139 133
NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 6 12
Gross Unrealized Holding Losses 33 43
Estimated Fair Value 673 632
NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 2 6
Gross Unrealized Holding Losses 14 16
Estimated Fair Value 342 347
NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 3 24
Gross Unrealized Holding Losses 84 65
Estimated Fair Value 1,806 1,575
NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 1
Gross Unrealized Holding Losses 8 13
Estimated Fair Value 239 178
Other Investments    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 39 33
Gross Unrealized Holding Losses 4  
Estimated Fair Value 160 158
Debt Securities, Available-for-sale    
Estimated Fair Value 266 271
Total Investments    
Unrealized Holding Gains 39 34
Unrealized Holding Losses 19 12
Estimated Fair Value 473 460
Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 47 31
Other Investments | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 5 6
Estimated Fair Value 79 82
Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   1
Gross Unrealized Holding Losses 1 2
Estimated Fair Value 83 77
Other Investments | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 5 2
Estimated Fair Value 59 65
Other Investments | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 4 2
Estimated Fair Value 45 47
Duke Energy Carolinas    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,651  
Duke Energy Carolinas | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 3,386 2,886
Gross Unrealized Holding Losses 33 14
Estimated Fair Value 4,751 4,196
Debt Securities, Available-for-sale    
Estimated Fair Value 1,651 1,438
Total Investments    
Unrealized Holding Gains 3,389 2,904
Unrealized Holding Losses 122 99
Estimated Fair Value 6,464 5,685
Duke Energy Carolinas | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 62 51
Duke Energy Carolinas | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 2 4
Gross Unrealized Holding Losses 27 35
Estimated Fair Value 401 390
Duke Energy Carolinas | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 4 4
Estimated Fair Value 36 50
Duke Energy Carolinas | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   13
Gross Unrealized Holding Losses 50 33
Estimated Fair Value 991 826
Duke Energy Carolinas | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 1
Gross Unrealized Holding Losses 8 13
Estimated Fair Value 223 172
Progress Energy    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,433  
Total Investments    
Unrealized Holding Gains 2,376 2,081
Unrealized Holding Losses 78 61
Estimated Fair Value 5,015 4,499
Progress Energy | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2,367 2,056
Gross Unrealized Holding Losses 28 8
Estimated Fair Value 3,482 3,082
Debt Securities, Available-for-sale    
Estimated Fair Value 1,409 1,294
Total Investments    
Unrealized Holding Gains 2,376 2,081
Unrealized Holding Losses 78 60
Estimated Fair Value 4,968 4,458
Progress Energy | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 77 82
Progress Energy | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 4 8
Gross Unrealized Holding Losses 6 8
Estimated Fair Value 272 242
Progress Energy | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 2 6
Gross Unrealized Holding Losses 10 12
Estimated Fair Value 306 297
Progress Energy | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 3 11
Gross Unrealized Holding Losses 34 32
Estimated Fair Value 815 749
Progress Energy | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 16 6
Progress Energy | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 24 23
Total Investments    
Unrealized Holding Losses   1
Estimated Fair Value 47 41
Progress Energy | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 23 18
Progress Energy | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses   1
Estimated Fair Value 24 23
Duke Energy Progress    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,221  
Total Investments    
Unrealized Holding Gains 2,265 1,979
Unrealized Holding Losses 70 46
Estimated Fair Value 4,653 4,089
Duke Energy Progress | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2,256 1,956
Gross Unrealized Holding Losses 28 8
Estimated Fair Value 3,362 2,970
Debt Securities, Available-for-sale    
Estimated Fair Value 1,221 1,050
Total Investments    
Unrealized Holding Gains 2,265 1,979
Unrealized Holding Losses 70 46
Estimated Fair Value 4,637 4,075
Duke Energy Progress | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 54 55
Duke Energy Progress | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 4 7
Gross Unrealized Holding Losses 6 8
Estimated Fair Value 256 229
Duke Energy Progress | NDTF | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 2 6
Gross Unrealized Holding Losses 10 12
Estimated Fair Value 306 297
Duke Energy Progress | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 3 10
Gross Unrealized Holding Losses 26 18
Estimated Fair Value 645 518
Duke Energy Progress | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 14 6
Duke Energy Progress | Other Investments    
Total Investments    
Estimated Fair Value 16 14
Duke Energy Progress | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 16 14
Duke Energy Florida    
Debt Securities, Available-for-sale    
Estimated Fair Value 212  
Total Investments    
Unrealized Holding Gains 111 102
Unrealized Holding Losses 8 15
Estimated Fair Value 358 409
Duke Energy Florida | NDTF    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 111 100
Estimated Fair Value 120 112
Debt Securities, Available-for-sale    
Estimated Fair Value 188 244
Total Investments    
Unrealized Holding Gains 111 102
Unrealized Holding Losses 8 14
Estimated Fair Value 331 383
Duke Energy Florida | NDTF | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 23 27
Duke Energy Florida | NDTF | Corporate debt securities    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   1
Estimated Fair Value 16 13
Duke Energy Florida | NDTF | U.S. government bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   1
Gross Unrealized Holding Losses 8 14
Estimated Fair Value 170 231
Duke Energy Florida | NDTF | Other debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 2  
Duke Energy Florida | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 24 23
Total Investments    
Unrealized Holding Losses   1
Estimated Fair Value 27 26
Duke Energy Florida | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 3 3
Duke Energy Florida | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses   1
Estimated Fair Value 24 23
Duke Energy Indiana    
Debt Securities, Available-for-sale    
Estimated Fair Value 56  
Total Investments    
Unrealized Holding Gains   5
Unrealized Holding Losses 5 1
Estimated Fair Value 146 163
Duke Energy Indiana | Other Investments    
Equity Securities, FV-NI    
Gross Unrealized Holding Gains   4
Gross Unrealized Holding Losses 4  
Estimated Fair Value 89 98
Debt Securities, Available-for-sale    
Estimated Fair Value 56 64
Duke Energy Indiana | Other Investments | Cash and cash equivalents    
Cash and Cash Equivalents    
Estimated Fair Value 1 1
Duke Energy Indiana | Other Investments | Corporate debt securities    
Debt Securities, Available-for-sale    
Estimated Fair Value 6 8
Duke Energy Indiana | Other Investments | Municipal bonds    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   1
Gross Unrealized Holding Losses 1 1
Estimated Fair Value 43 46
Duke Energy Indiana | Other Investments | U.S. government bonds    
Debt Securities, Available-for-sale    
Estimated Fair Value $ 7 $ 10
v3.25.0.1
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
FV-NI:      
Realized gains $ 600 $ 129 $ 201
Realized losses 85 146 316
AFS:      
Realized gains 28 44 28
Realized losses 67 140 151
Duke Energy Carolinas      
FV-NI:      
Realized gains 298 82 124
Realized losses 40 79 177
AFS:      
Realized gains 14 22 22
Realized losses 40 65 86
Progress Energy      
FV-NI:      
Realized gains 302 47 77
Realized losses 45 67 139
AFS:      
Realized gains 14 22 6
Realized losses 27 75 48
Duke Energy Progress      
FV-NI:      
Realized gains 288 44 76
Realized losses 44 66 136
AFS:      
Realized gains 13 20 6
Realized losses $ 26 $ 70 $ 44
v3.25.0.1
Investments in Debt and Equity Securities (Maturities) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less $ 89
Due after one through five years 791
Due after five through 10 years 721
Due after 10 years 1,725
Total 3,326
Duke Energy Carolinas  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 9
Due after one through five years 303
Due after five through 10 years 441
Due after 10 years 898
Total 1,651
Progress Energy  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 62
Due after one through five years 408
Due after five through 10 years 234
Due after 10 years 729
Total 1,433
Duke Energy Progress  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 12
Due after one through five years 310
Due after five through 10 years 219
Due after 10 years 680
Total 1,221
Duke Energy Florida  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 50
Due after one through five years 98
Due after five through 10 years 15
Due after 10 years 49
Total 212
Duke Energy Indiana  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 4
Due after one through five years 20
Due after five through 10 years 12
Due after 10 years 20
Total $ 56
v3.25.0.1
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities $ 3,326  
Derivative assets 434 $ 189
Total assets 12,339 10,792
Derivative liabilities (319) (729)
Net assets $ 12,020 $ 10,063
Derivative Asset, Statement of Financial Position [Extensible Enumeration] Other (including amounts related to VIEs) Other (including amounts related to VIEs)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other (includes $54 at 2023 related to VIEs)  
Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets $ 2 $ 37
Total assets 9,625 8,484
Derivative liabilities (3) (60)
Net assets 9,622 8,424
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 423 137
Total assets 2,677 2,256
Derivative liabilities (316) (669)
Net assets 2,361 1,587
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 9 15
Total assets 9 15
Net assets 9 15
Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 28 37
Net assets 28 37
NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 139 133
Equity securities 8,233 7,278
Debt securities 3,060 2,732
NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 139 133
Debt securities 1,022 829
NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 2,038 1,903
NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 8,233 7,278
NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 8,203 7,241
NDTF equity securities | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 2  
NDTF equity securities | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 28 37
Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 160 158
Debt securities 266 271
Other Investments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 160 158
Debt securities 52 55
Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 214 216
Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 47 31
Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 47 31
Duke Energy Carolinas    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,651  
Derivative assets 94 35
Total assets 6,558 5,720
Derivative liabilities (88) (260)
Net assets 6,470 5,460
Duke Energy Carolinas | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 5,303 4,585
Net assets 5,303 4,585
Duke Energy Carolinas | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 94 35
Total assets 1,227 1,098
Derivative liabilities (88) (260)
Net assets 1,139 838
Duke Energy Carolinas | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 28 37
Net assets 28 37
Duke Energy Carolinas | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 62 51
Equity securities 4,751 4,196
Debt securities 1,651 1,438
Duke Energy Carolinas | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 62 51
Equity securities   4,159
Debt securities 520 375
Duke Energy Carolinas | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,131 1,063
Duke Energy Carolinas | NDTF | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities   37
Duke Energy Carolinas | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 4,751  
Duke Energy Carolinas | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 4,721  
Duke Energy Carolinas | NDTF equity securities | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 2  
Duke Energy Carolinas | NDTF equity securities | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 28  
Progress Energy    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,433  
Derivative assets 127 34
Total assets 5,142 4,533
Derivative liabilities (58) (234)
Net assets 5,084 4,299
Progress Energy | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 4,084 3,636
Net assets 4,084 3,636
Progress Energy | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 127 34
Total assets 1,058 897
Derivative liabilities (58) (234)
Net assets 1,000 663
Progress Energy | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 77 82
Equity securities 3,482 3,082
Debt securities 1,409 1,294
Progress Energy | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 77 82
Debt securities 502 454
Progress Energy | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 907 840
Progress Energy | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 3,482 3,082
Progress Energy | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 3,482 3,082
Progress Energy | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 24 23
Progress Energy | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 24 23
Progress Energy | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 23 18
Progress Energy | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 23 18
Duke Energy Progress    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 1,221  
Derivative assets 109 32
Total assets 4,762 4,121
Derivative liabilities (57) (219)
Net assets 4,705 3,902
Duke Energy Progress | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,797 3,305
Net assets 3,797 3,305
Duke Energy Progress | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 109 32
Total assets 965 816
Derivative liabilities (57) (219)
Net assets 908 597
Duke Energy Progress | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 54 55
Equity securities 3,362 2,970
Debt securities 1,221 1,050
Duke Energy Progress | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 54 55
Debt securities 365 266
Duke Energy Progress | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 856 784
Duke Energy Progress | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 3,362 2,970
Duke Energy Progress | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 3,362 2,970
Duke Energy Progress | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 16 14
Duke Energy Progress | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 16 14
Duke Energy Florida    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 212  
Derivative assets 18 2
Total assets 376 411
Derivative liabilities (1) (15)
Net assets 375 396
Duke Energy Florida | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 283 330
Net assets 283 330
Duke Energy Florida | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 18 2
Total assets 93 81
Derivative liabilities (1) (15)
Net assets 92 66
Duke Energy Florida | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 23 27
Equity securities 120 112
Debt securities 188 244
Duke Energy Florida | NDTF | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 23 27
Debt securities 137 188
Duke Energy Florida | NDTF | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 51 56
Duke Energy Florida | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 120 112
Duke Energy Florida | NDTF equity securities | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 120 112
Duke Energy Florida | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 24 23
Duke Energy Florida | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 24 23
Duke Energy Florida | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 3 3
Duke Energy Florida | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 3 3
Duke Energy Indiana    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 56  
Derivative assets 44 25
Total assets 190 188
Derivative liabilities (3) (18)
Net assets 187 170
Duke Energy Indiana | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets   5
Total assets 90 104
Derivative liabilities (3) (18)
Net assets 87 86
Duke Energy Indiana | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 36 7
Total assets 92 71
Net assets 92 71
Duke Energy Indiana | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 8 13
Total assets 8 13
Net assets 8 13
Duke Energy Indiana | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 89 98
Debt securities 56 64
Duke Energy Indiana | Other Investments | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Equity securities 89 98
Duke Energy Indiana | Other Investments | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities 56 64
Duke Energy Indiana | Other cash and cash equivalents    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 1 1
Duke Energy Indiana | Other cash and cash equivalents | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 1 1
Piedmont    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1 1
Derivative liabilities (94) (147)
Net assets (93) (146)
Piedmont | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1 1
Net assets 1 1
Piedmont | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities (94)  
Net assets $ (94)  
Piedmont | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities   (147)
Net assets   $ (147)
v3.25.0.1
Fair Value Measurements (Reconciliation of Assets and Liabilities Measured at Fair Value on a Recurring Basis Using Unobservable Inputs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Derivatives (net)    
Balance at beginning of period $ 15 $ 34
Purchases, sales, issuances and settlements:    
Purchases 29 47
Settlements (46) (72)
Total gains included on the Consolidated Balance Sheet 11 6
Ending balance 9 15
Duke Energy Indiana    
Derivatives (net)    
Balance at beginning of period 13 29
Purchases, sales, issuances and settlements:    
Purchases 27 42
Settlements (42) (68)
Total gains included on the Consolidated Balance Sheet 10 10
Ending balance $ 8 $ 13
v3.25.0.1
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosure) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
$ / MWh
Dec. 31, 2023
USD ($)
$ / MWh
Dec. 31, 2022
USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 9 $ 15 $ 34
Duke Energy Ohio | FTR price – per MWh | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 1 $ 2  
Duke Energy Ohio | FTR price – per MWh | Minimum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu)   0.36  
Duke Energy Ohio | FTR price – per MWh | Maximum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 1.13 2.11  
Duke Energy Ohio | FTR price – per MWh | Weighted Average | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 0.48 0.71  
Duke Energy Indiana      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 8 $ 13 $ 29
Duke Energy Indiana | FTR price – per MWh | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Fair value | $ $ 8 $ 13  
Duke Energy Indiana | FTR price – per MWh | Minimum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) (0.63) (1.05)  
Duke Energy Indiana | FTR price – per MWh | Maximum | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 9.24 9.64  
Duke Energy Indiana | FTR price – per MWh | Weighted Average | RTO auction pricing      
Fair Value Measurement Inputs and Valuation Techniques [Line Items]      
Input measurement (in usd per MWh and usd per MMBtu) 0.94 1.26  
v3.25.0.1
Fair Value Measurements (Other Fair Value Disclosures) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value $ 80,689 $ 75,252
Fair Value 73,440 69,790
Unamortized debt discount and premium, net 1,000  
Duke Energy Carolinas    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 17,490 16,012
Fair Value 15,975 15,077
Progress Energy    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 24,496 23,759
Fair Value 22,548 22,553
Duke Energy Progress    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 12,504 11,714
Fair Value 11,009 10,595
Duke Energy Florida    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 10,348 10,401
Fair Value 9,752 10,123
Duke Energy Ohio    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 4,165 3,518
Fair Value 3,871 3,310
Duke Energy Indiana    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 4,798 4,502
Fair Value 4,329 4,230
Piedmont    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Book Value 4,003 3,668
Fair Value $ 3,584 $ 3,336
v3.25.0.1
Variable Interest Entities (Narrative) (Details) - USD ($)
 1 Months Ended 12 Months Ended
Jan. 31, 2025
Apr. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Apr. 01, 2024
Feb. 29, 2024
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       $ 4,509,000,000 $ 4,292,000,000      
Accounts payable       5,479,000,000 4,228,000,000      
Duke Energy Carolinas                
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       1,536,000,000 1,484,000,000      
Accounts payable       1,809,000,000 1,183,000,000      
Duke Energy Progress                
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       1,341,000,000 1,227,000,000      
Accounts payable       749,000,000 634,000,000      
Duke Energy Ohio                
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       183,000,000 179,000,000      
Accounts payable       313,000,000 338,000,000      
Duke Energy Florida                
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       745,000,000 674,000,000      
Accounts payable       1,418,000,000 738,000,000      
Duke Energy Indiana                
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       586,000,000 582,000,000      
Accounts payable       $ 257,000,000 300,000,000      
CRC                
Variable Interest Entity [Line Items]                
Variation in credit losses (as a percent)       10.00%        
Variation in discount rates (as a percent)       20.00%        
Consolidated VIEs                
Variable Interest Entity [Line Items]                
Financial support       $ 0 0 $ 0    
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       494,000,000 462,000,000      
Accounts payable       214,000,000 188,000,000      
Consolidated VIEs | Duke Energy Carolinas | Secured Debt | Subsequent Event                
Variable Interest Entity [Line Items]                
Repayments of debt $ 500,000,000              
Consolidated VIEs | Duke Energy Florida                
Variable Interest Entity [Line Items]                
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs)       494,000,000 462,000,000      
Accounts payable       $ 208,000,000 188,000,000      
Consolidated VIEs | Duke Energy Florida | DEFR Accounts Receivable Securitization Facility Maturing April 2024 | Secured Debt                
Variable Interest Entity [Line Items]                
Repayments of debt   $ 325,000,000            
Consolidated VIEs | Duke Energy Florida | DERF Accounts Receivable Securitization financing | Secured Debt | Subsequent Event                
Variable Interest Entity [Line Items]                
Repayments of debt 500,000,000              
Consolidated VIEs | CRC                
Variable Interest Entity [Line Items]                
Repayments of debt     $ 350,000,000          
Restricted receivables         663,000,000     $ 682,000,000
Proceeds received as cash (as a percent)       75.00%        
Proceeds received as subordinated note (as a percent)       25.00%        
Consolidated VIEs | CRC | Duke Energy Ohio                
Variable Interest Entity [Line Items]                
Restricted receivables               366,000,000
Consolidated VIEs | CRC | Duke Energy Indiana                
Variable Interest Entity [Line Items]                
Restricted receivables               $ 316,000,000
Consolidated VIEs | DEFR | Duke Energy Florida                
Variable Interest Entity [Line Items]                
Restricted receivables         532,000,000   $ 459,000,000  
Consolidated VIEs | DERF | Duke Energy Carolinas                
Variable Interest Entity [Line Items]                
Restricted receivables       $ 1,054,000,000 $ 991,000,000      
Consolidated VIEs | DERF | Duke Energy Carolinas | Subsequent Event                
Variable Interest Entity [Line Items]                
Restricted receivables $ 1,081,000,000              
Consolidated VIEs | DEPSCSF | Duke Energy Progress                
Variable Interest Entity [Line Items]                
Proceeds from issuance of senior secured bonds   $ 177,000,000            
Non-consolidated VIEs | CRC | Duke Energy Ohio                
Variable Interest Entity [Line Items]                
Discount rate (as a percent)       1.00%        
v3.25.0.1
Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($)
$ in Millions
 1 Months Ended
Apr. 30, 2024
Mar. 31, 2024
Dec. 31, 2024
Apr. 01, 2024
Feb. 29, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]            
Long-Term Debt     $ 76,340     $ 72,452
Duke Energy Carolinas            
Variable Interest Entity [Line Items]            
Long-Term Debt     16,669     15,693
Duke Energy Progress            
Variable Interest Entity [Line Items]            
Long-Term Debt     11,371     11,492
Duke Energy Florida            
Variable Interest Entity [Line Items]            
Long-Term Debt     9,814     9,812
Consolidated VIEs            
Variable Interest Entity [Line Items]            
Long-Term Debt     1,842     3,000
Consolidated VIEs | Duke Energy Carolinas            
Variable Interest Entity [Line Items]            
Long-Term Debt     198     708
Consolidated VIEs | Duke Energy Progress            
Variable Interest Entity [Line Items]            
Long-Term Debt     809     1,079
Consolidated VIEs | Duke Energy Florida            
Variable Interest Entity [Line Items]            
Long-Term Debt     773     831
Consolidated VIEs | Duke Energy Florida | DEFR Accounts Receivable Securitization Facility Maturing April 2024 | Secured Debt            
Variable Interest Entity [Line Items]            
Repayments of debt $ 325          
Consolidated VIEs | CRC            
Variable Interest Entity [Line Items]            
Long-Term Debt           312
Restricted receivables         $ 682 663
Repayments of debt   $ 350        
Consolidated VIEs | DERF | Duke Energy Carolinas            
Variable Interest Entity [Line Items]            
Long-Term Debt     500     500
Restricted receivables     1,054     991
Consolidated VIEs | DEPR | Duke Energy Progress            
Variable Interest Entity [Line Items]            
Credit facility amount     400      
Long-Term Debt     400     400
Restricted receivables     $ 835     833
Consolidated VIEs | DEFR | Duke Energy Florida            
Variable Interest Entity [Line Items]            
Long-Term Debt           325
Restricted receivables       $ 459   $ 532
v3.25.0.1
Variable Interest Entities (Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]    
Regulatory Assets: Current $ 2,756 $ 3,648
Current Assets: Other 695 431
Other Noncurrent Assets: Regulatory assets 14,254 13,618
Other (including amounts related to VIEs) 3,509 3,964
Current Liabilities: Other 2,084 2,319
Current maturities of long-term debt 4,349 2,800
Long-Term Debt 76,340 72,452
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 4,509 4,292
Accounts payable 5,479 4,228
Duke Energy Florida    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 1,022 720
Current Assets: Other 227 51
Other Noncurrent Assets: Regulatory assets 2,064 1,883
Other (including amounts related to VIEs) 465 429
Current Liabilities: Other 342 350
Current maturities of long-term debt 534 589
Long-Term Debt 9,814 9,812
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 745 674
Accounts payable 1,418 738
Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 685 1,564
Current Assets: Other 52 31
Other Noncurrent Assets: Regulatory assets 4,199 3,916
Other (including amounts related to VIEs) 1,127 1,109
Current Liabilities: Other 541 702
Current maturities of long-term debt 521 19
Long-Term Debt 16,669 15,693
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 1,536 1,484
Accounts payable 1,809 1,183
Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 626 942
Current Assets: Other 104 72
Other Noncurrent Assets: Regulatory assets 4,555 4,546
Other (including amounts related to VIEs) 724 682
Current Liabilities: Other 427 481
Current maturities of long-term debt 983 72
Long-Term Debt 11,371 11,492
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 1,341 1,227
Accounts payable 749 634
Consolidated VIEs    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 120 110
Current Assets: Other 90  
Other Noncurrent Assets: Regulatory assets 1,705 1,642
Current maturities of long-term debt 1,012 428
Long-Term Debt 1,842 3,000
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Accounts payable 214 188
Consolidated VIEs | Duke Energy Florida    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 61 59
Current Assets: Other 35 37
Other Noncurrent Assets: Regulatory assets 741 803
Current maturities of long-term debt 59 384
Long-Term Debt 773 831
Inventory (includes $494 at 2024 and $462 at 2023 related to VIEs) 494 462
Accounts payable 208 188
Consolidated VIEs | Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 12 12
Current Assets: Other 9 9
Other Noncurrent Assets: Regulatory assets 189 196
Current maturities of long-term debt 510 510
Long-Term Debt 198 708
Consolidated VIEs | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 47 39
Current Assets: Other 40 31
Other Noncurrent Assets: Regulatory assets 775 643
Current maturities of long-term debt 443 34
Long-Term Debt 809 1,079
Consolidated VIEs | DEFPF | Duke Energy Florida    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 61 59
Current Assets: Other 35 37
Other Noncurrent Assets: Regulatory assets 741 803
Current Liabilities: Other 8 8
Current maturities of long-term debt 59 59
Long-Term Debt 773 831
Consolidated VIEs | DECNCSF | Duke Energy Carolinas    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 12 12
Current Assets: Other 9 9
Other Noncurrent Assets: Regulatory assets 189 196
Other (including amounts related to VIEs) 1 1
Current Liabilities: Other 2 3
Current maturities of long-term debt 10 10
Long-Term Debt 198 208
Consolidated VIEs | DEPNCSF | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current 39 39
Current Assets: Other 27 31
Other Noncurrent Assets: Regulatory assets 620 643
Other (including amounts related to VIEs) 4 2
Current Liabilities: Other 10 8
Current maturities of long-term debt 34 34
Long-Term Debt $ 646 680
Consolidated VIEs | DEPSCSF | Duke Energy Progress    
Variable Interest Entity [Line Items]    
Regulatory Assets: Current   8
Current Assets: Other   13
Other Noncurrent Assets: Regulatory assets   155
Other (including amounts related to VIEs)   1
Current Liabilities: Other   7
Current maturities of long-term debt   9
Long-Term Debt   $ 163
v3.25.0.1
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Variable Interest Entity [Line Items]      
Receivables from affiliated companies $ 2,232 $ 1,112  
Investments in equity method unconsolidated affiliates 353 492  
Other noncurrent assets 3,509 3,964  
Total Assets 186,343 176,893 $ 178,086
Other current liabilities 2,084 2,319  
Other noncurrent liabilities 1,556 1,393  
Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 447 112  
Other noncurrent assets 82 84  
Total Assets 12,768 12,216 11,506
Other current liabilities 67 65  
Other noncurrent liabilities 91 86  
Duke Energy Ohio | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 11 239  
Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 423 156  
Other noncurrent assets 323 325  
Total Assets 15,727 14,811 $ 14,654
Other current liabilities 183 184  
Other noncurrent liabilities 19 0  
Duke Energy Indiana | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies 1 197  
Non-consolidated VIEs | Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Total Assets   150  
Net assets   150  
Non-consolidated VIEs | Duke Energy Ohio | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies   150  
Non-consolidated VIEs | Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Total Assets   208  
Net assets   208  
Non-consolidated VIEs | Duke Energy Indiana | Affiliated entity      
Variable Interest Entity [Line Items]      
Receivables from affiliated companies   208  
Non-consolidated VIEs | Pipeline Investments      
Variable Interest Entity [Line Items]      
Investments in equity method unconsolidated affiliates   67  
Other noncurrent assets 17 43  
Total Assets 17 110  
Other current liabilities 2 4  
Other noncurrent liabilities   5  
Total liabilities 2 9  
Net assets $ 15 $ 101  
v3.25.0.1
Variable Interest Entities (Fair Value Assumptions) (Details) - Non-consolidated VIEs - CRC
 12 Months Ended
Dec. 31, 2023
Duke Energy Ohio  
Variable Interest Entity [Line Items]  
Anticipated credit loss ratio (as a percent) 0.60%
Discount rate (as a percent) 6.10%
Receivable turnover rate (as a percent) 13.90%
Duke Energy Indiana  
Variable Interest Entity [Line Items]  
Anticipated credit loss ratio (as a percent) 0.40%
Discount rate (as a percent) 6.10%
Receivable turnover rate (as a percent) 12.00%
v3.25.0.1
Variable Interest Entities (Receivables Sold) (Details) - Non-consolidated VIEs - CRC - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Duke Energy Ohio    
Variable Interest Entity [Line Items]    
Receivables sold $ 0 $ 361
Less: Retained interests 0 150
Net receivables sold 0 211
Duke Energy Indiana    
Variable Interest Entity [Line Items]    
Receivables sold 0 351
Less: Retained interests 0 208
Net receivables sold $ 0 $ 143
v3.25.0.1
Variable Interest Entities (Sales and Cash Flows) (Details) - Non-consolidated VIEs - CRC - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Duke Energy Ohio      
Variable Interest Entity [Line Items]      
Receivables sold $ 474 $ 2,578 $ 2,562
Loss recognized on sale 7 34 18
Cash proceeds from receivables sold 478 2,591 2,424
Collection fees received 0 1 1
Return received on retained interests 4 19 10
Duke Energy Indiana      
Variable Interest Entity [Line Items]      
Receivables sold 473 3,223 3,744
Loss recognized on sale 6 39 26
Cash proceeds from receivables sold 523 3,294 3,498
Collection fees received 0 2 2
Return received on retained interests $ 4 $ 25 $ 15
v3.25.0.1
Revenue (Remaining Performance Obligations) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Duke Energy Carolinas  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 48
Duke Energy Carolinas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 12
Duke Energy Carolinas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 12
Duke Energy Carolinas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 12
Duke Energy Carolinas | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 12
Progress Energy  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 160
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 36
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 43
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 13
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 13
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 13
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 42
Revenue, remaining performance obligation, expected timing of satisfaction, period
Duke Energy Progress  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 50
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 6
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 6
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 6
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 6
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 6
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 20
Revenue, remaining performance obligation, expected timing of satisfaction, period
Duke Energy Florida  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 110
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 30
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 37
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 7
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 22
Revenue, remaining performance obligation, expected timing of satisfaction, period
Duke Energy Indiana  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 54
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 17
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 17
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 15
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 5
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period
Piedmont  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 405
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 64
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 51
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 49
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 46
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2028-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 44
Revenue, remaining performance obligation, expected timing of satisfaction, period 1 year
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2029-01-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 151
Revenue, remaining performance obligation, expected timing of satisfaction, period
v3.25.0.1
Revenue (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers $ 30,050 $ 28,674 $ 28,675
Other revenue sources 307 386 93
Total operating revenues 30,357 29,060 28,768
Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 27,769 26,546 25,888
Total operating revenues 28,020 26,846 25,990
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 12,901 12,098 11,377
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 8,207 7,895 7,356
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 3,427 3,416 3,504
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 2,205 2,175 2,856
Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,029 962 795
Gas Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 2,243 2,091 2,757
Total operating revenues 2,299 2,177 2,748
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,320 1,226 1,462
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 639 605 765
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 158 141 170
Gas Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 126 119 360
Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 38 37 30
Duke Energy Carolinas      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 9,615 8,223 7,855
Other revenue sources 103 65 2
Total operating revenues 9,718 8,288 7,857
Duke Energy Carolinas | Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 9,615 8,223 7,855
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 4,150 3,409 3,275
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 3,080 2,670 2,396
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,488 1,334 1,251
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 547 492 561
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 350 318 372
Progress Energy      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 13,464 13,355 13,082
Other revenue sources 169 189 43
Total operating revenues 13,633 13,544 13,125
Progress Energy | Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 13,464 13,355 13,082
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 6,592 6,510 5,812
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 3,718 3,762 3,396
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,066 1,105 1,095
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,414 1,388 1,785
Progress Energy | Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 674 590 994
Duke Energy Progress      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 6,979 6,426 6,742
Other revenue sources 38 62 11
Total operating revenues 7,017 6,488 6,753
Duke Energy Progress | Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 6,979 6,426 6,742
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 2,872 2,540 2,378
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,754 1,588 1,480
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 742 733 770
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,268 1,240 1,346
Duke Energy Progress | Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 343 325 768
Duke Energy Florida      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 6,485 6,929 6,340
Other revenue sources 110 107 13
Total operating revenues 6,595 7,036 6,353
Duke Energy Florida | Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 6,485 6,929 6,340
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 3,720 3,970 3,434
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,964 2,174 1,916
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 324 372 325
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 146 148 439
Duke Energy Florida | Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 331 265 226
Duke Energy Ohio      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 2,527 2,468 2,486
Other revenue sources 18 39 28
Total operating revenues 2,545 2,507 2,514
Duke Energy Ohio | Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,888 1,829 1,769
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,009 947 862
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 590 552 517
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 149 191 202
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 51 46 127
Duke Energy Ohio | Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 89 93 61
Duke Energy Ohio | Gas Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 639 639 717
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 427 435 488
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 153 154 180
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 33 26 24
Duke Energy Ohio | Gas Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 26 24 25
Duke Energy Indiana      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 2,992 3,335 3,837
Other revenue sources 48 64 85
Total operating revenues 3,040 3,399 3,922
Duke Energy Indiana | Electric Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 2,992 3,335 3,837
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,149 1,233 1,430
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 818 911 1,049
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 724 786 956
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 194 248 383
Duke Energy Indiana | Electric Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 107 157 19
Piedmont      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,637 1,483 2,068
Other revenue sources 92 145 56
Total operating revenues 1,729 1,628 2,124
Piedmont | Gas Utilities and Infrastructure      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 1,637 1,483 2,068
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 893 792 974
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 486 450 585
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 125 115 144
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers 33 31 94
Piedmont | Gas Utilities and Infrastructure | Other      
Disaggregation of Revenue [Line Items]      
Total revenue from contracts with customers $ 100 $ 95 $ 271
v3.25.0.1
Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance $ 205 $ 216 $ 121
Write-Offs (132) (164) (158)
Credit Loss Expense 98 101 160
Other Adjustments 38 52 93
Ending balance 209 205 216
Duke Energy Carolinas      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 56 68 42
Write-Offs (55) (71) (73)
Credit Loss Expense 39 35 40
Other Adjustments 29 24 59
Ending balance 69 56 68
Progress Energy      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 74 81 36
Write-Offs (73) (84) (70)
Credit Loss Expense 51 48 72
Other Adjustments 21 29 43
Ending balance 73 74 81
Duke Energy Progress      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 44 44 21
Write-Offs (45) (41) (36)
Credit Loss Expense 25 12 17
Other Adjustments 20 29 42
Ending balance 44 44 44
Duke Energy Florida      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 31 36 16
Write-Offs (28) (42) (34)
Credit Loss Expense 26 37 55
Other Adjustments     (1)
Ending balance 29 31 36
Duke Energy Ohio      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 9 6 4
Credit Loss Expense 3 3 2
Other Adjustments 31    
Ending balance 43 9 6
Duke Energy Indiana      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 5 4 3
Credit Loss Expense 2 1 1
Other Adjustments 8    
Ending balance 15 5 4
Piedmont      
Accounts Receivable, Allowance for Credit Loss [Roll Forward]      
Beginning balance 11 14 15
Write-Offs (4) (10) (12)
Credit Loss Expense 3 7 11
Ending balance $ 10 $ 11 $ 14
v3.25.0.1
Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Class of Stock [Line Items]      
Net Income available to Duke Energy common stockholders $ 4,402 $ 2,735 $ 2,444
Net income (loss) from discontinued operations attributable to Duke Energy Corporation 7 (1,391) (1,215)
Accumulated preferred stock dividends adjustment 14    
Less: Impact of participating securities 6 6 2
Income from continuing operations available to Duke Energy common stockholders 4,403 4,120 3,657
Income (Loss) From Discontinued Operations, net of tax 10 (1,455) (1,323)
Add: (Income) Loss attributable to NCI $ (3) $ 64 $ 108
Weighted average common shares outstanding – basic (in shares) 772 771 770
Weighted average common shares outstanding – diluted (in shares) 772 771 770
EPS from continuing operations available to Duke Energy common stockholders      
Basic (usd per share) $ 5.70 $ 5.35 $ 4.74
Diluted (usd per share) 5.70 5.35 4.74
Earnings (Loss) Per Share from discontinued operations attributable to Duke Energy common stockholders      
Basic (usd per share) 0.01 (1.81) (1.57)
Diluted (usd per share) $ 0.01 $ (1.81) $ (1.57)
Potentially dilutive items excluded from the calculation (in shares) 2 2 2
Dividends declared per share (usd per share) $ 4.14 $ 4.06 $ 3.98
Series A Preferred Stock      
Earnings (Loss) Per Share from discontinued operations attributable to Duke Energy common stockholders      
Dividends declared on preferred stock (usd per share) $ 1.437 1.437 1.437
Cumulative annual dividend rate (as a percent) 5.75%    
Liquidation preference per share (in usd per share) $ 25    
Series B Preferred Stock      
Earnings (Loss) Per Share from discontinued operations attributable to Duke Energy common stockholders      
Dividends declared on preferred stock (usd per share) $ 48.750 $ 48.750 $ 48.750
Cumulative annual dividend rate (as a percent) 4.875%    
v3.25.0.1
Stockholders' Equity (Narrative) (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 12 Months Ended
Sep. 16, 2024
Nov. 30, 2022
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jun. 15, 2024
Equity [Abstract]            
Maximum value of shares to be issued under ATM program   $ 1,500        
Class of Stock [Line Items]            
Maximum value of shares to be issued under ATM program   $ 1,500        
Redemption price (in usd per share)           $ 25
Less: Preferred Redemption Costs     $ 16 $ 0 $ 0  
Settlement of equity forwards (in shares)     2,900,000      
Settlement of equity forwards, net cash proceeds     $ 297      
Equity Forwards, Fifth Tranche            
Class of Stock [Line Items]            
Settlement of equity forwards, net cash proceeds     $ 74      
Shares Priced (shares)     671,216      
Equity forwards            
Class of Stock [Line Items]            
Settlement of equity forwards, net cash proceeds     $ 371      
Shares Priced (shares)     3,600,000      
If net share settlement was elected            
Class of Stock [Line Items]            
Shares Priced (shares)     2,931,591      
Series A Preferred Stock            
Class of Stock [Line Items]            
Liquidation preference per share (in usd per share)     $ 25      
Series B Preferred Stock            
Class of Stock [Line Items]            
Redemption price (in usd per share) $ 1,000          
Less: Preferred Redemption Costs $ 16          
Shares redeemed (in shares) 1,000,000          
Redemption amount $ 1,000          
Difference between carrying value and consideration paid 11          
Excise tax liability $ 5          
v3.25.0.1
Stockholders' Equity - Equity Issuances Pursuant to Forward Contracts (Details)
 12 Months Ended
Dec. 31, 2024
$ / shares
shares
Equity Forwards, Fifth Tranche  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Shares Priced (shares) 671,216
If net share settlement was elected  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Shares Priced (shares) 2,931,591
If net share settlement was elected | Equity Forwards, First Tranche  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Shares Priced (shares) 802,371
Forward contract indexed to issuer's equity, forward rate per share (in dollars per share) | $ / shares $ 92.77
If net share settlement was elected | Equity Forwards, Second Tranche  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Shares Priced (shares) 729,674
Forward contract indexed to issuer's equity, forward rate per share (in dollars per share) | $ / shares $ 101.10
If net share settlement was elected | Equity Forwards, Third Tranche  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Shares Priced (shares) 737,280
Forward contract indexed to issuer's equity, forward rate per share (in dollars per share) | $ / shares $ 100.99
If net share settlement was elected | Equity Forwards, Fourth Tranche  
Forward Contract Indexed to Issuer's Equity [Line Items]  
Shares Priced (shares) 662,266
Forward contract indexed to issuer's equity, forward rate per share (in dollars per share) | $ / shares $ 111.45
v3.25.0.1
Severance (Narrative) (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2024
USD ($)
employee
Dec. 31, 2023
USD ($)
employee
Dec. 31, 2022
USD ($)
employee
Restructuring and Related Activities [Abstract]      
Number of eligible employees | employee 341 682 233
Severance expense | $ $ (28) $ 102 $ 65
Restructuring Charges, Statement of Income or Comprehensive Income [Extensible Enumeration] Operation, maintenance and other    
v3.25.0.1
Severance (Expenses) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]      
Severance expense $ (28) $ 102 $ 65
Amortization of deferred severance charges   22 33
Operation, maintenance and other      
Restructuring Cost and Reserve [Line Items]      
Severance expense   97  
Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (6)   (19)
Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (1) (14)  
Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (27)    
Duke Energy Carolinas      
Restructuring Cost and Reserve [Line Items]      
Severance expense (11) 53 40
Amortization of deferred severance charges   14 22
Duke Energy Carolinas | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (2)   (6)
Duke Energy Carolinas | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (1) (7)  
Duke Energy Carolinas | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (11)    
Progress Energy      
Restructuring Cost and Reserve [Line Items]      
Severance expense (9) 33 20
Amortization of deferred severance charges   8 11
Progress Energy | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (3)   (8)
Progress Energy | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments   (5)  
Progress Energy | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (9)    
Duke Energy Progress      
Restructuring Cost and Reserve [Line Items]      
Severance expense (5) 21 17
Amortization of deferred severance charges   8 11
Duke Energy Progress | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (2)   (4)
Duke Energy Progress | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments   (3)  
Duke Energy Progress | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (5)    
Duke Energy Florida      
Restructuring Cost and Reserve [Line Items]      
Severance expense (4) 12 3
Duke Energy Florida | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (1)   (4)
Duke Energy Florida | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments   (2)  
Duke Energy Florida | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (4)    
Duke Energy Ohio      
Restructuring Cost and Reserve [Line Items]      
Severance expense (2) 3 1
Duke Energy Ohio | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments     (1)
Duke Energy Ohio | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments   (1)  
Duke Energy Ohio | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (2)    
Duke Energy Indiana      
Restructuring Cost and Reserve [Line Items]      
Severance expense (4) 6 2
Duke Energy Indiana | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (1)   (2)
Duke Energy Indiana | Employee Severance Charges, 2022      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments   (1)  
Duke Energy Indiana | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments (4)    
Piedmont      
Restructuring Cost and Reserve [Line Items]      
Severance expense (2) $ 4 2
Piedmont | Employee Severance Charges, 2021      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments     $ (1)
Piedmont | Employee Severance Charges, 2023      
Restructuring Cost and Reserve [Line Items]      
Severance charges adjustments $ (2)    
v3.25.0.1
Severance (Rollforward) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Restructuring Reserve [Roll Forward]    
Balance, beginning of period $ 102 $ 64
Provision/Adjustments (28) 80
Cash Reductions (55) (42)
Balance, end of period 19 102
Duke Energy Carolinas    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 35 15
Provision/Adjustments (6) 30
Cash Reductions (21) (10)
Balance, end of period 8 35
Progress Energy    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 16 6
Provision/Adjustments (3) 13
Cash Reductions (11) (3)
Balance, end of period 2 16
Duke Energy Progress    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 8 4
Provision/Adjustments (1) 6
Cash Reductions (6) (2)
Balance, end of period 1 8
Duke Energy Florida    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 8 2
Provision/Adjustments (2) 7
Cash Reductions (5) (1)
Balance, end of period 1 8
Duke Energy Ohio    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 1  
Provision/Adjustments (1) 1
Balance, end of period   1
Duke Energy Indiana    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 4  
Provision/Adjustments (3) 4
Cash Reductions (1)  
Balance, end of period   4
Piedmont    
Restructuring Reserve [Roll Forward]    
Balance, beginning of period 2 1
Provision/Adjustments (1) 2
Cash Reductions $ (1) (1)
Balance, end of period   $ 2
v3.25.0.1
Stock-Based Compensation (Narrative) (Details) - USD ($)
shares in Millions, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Shares reserved for awards to employees and outside directors (in shares) 15    
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total grant date fair value of shares vested $ 55 $ 52 $ 49
Unrecognized compensation cost $ 37    
Unrecognized compensation cost, period of recognition (in months) 24 months    
RSU awards | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Performance awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting period (in years) 3 years    
Total grant date fair value of shares vested $ 30 $ 31 $ 25
Unrecognized compensation cost $ 24    
Unrecognized compensation cost, period of recognition (in months) 22 months    
Risk free interest rate (as a percent) 4.49%    
Expected volatility rate (as a percent) 18.70%    
Performance awards | Minimum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percent (as a percent) 0.00%    
Performance awards | Maximum      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Vesting percent (as a percent) 200.00%    
v3.25.0.1
Stock-Based Compensation (Schedule of Stock-Based Compensation Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized $ 70 $ 71 $ 74
Pretax stock-based compensation cost 96 97 100
Stock-based compensation costs capitalized 6 6 5
Stock-based compensation expense 90 91 95
Tax benefit associated with stock-based compensation expense 20 20 21
RSU awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pretax stock-based compensation cost 49 54 58
Performance awards      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Pretax stock-based compensation cost 47 43 42
Duke Energy Carolinas      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 25 25 27
Progress Energy      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 28 28 27
Duke Energy Progress      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 17 17 17
Duke Energy Florida      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 11 11 10
Duke Energy Ohio      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 5 5 5
Duke Energy Indiana      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized 7 7 7
Piedmont      
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]      
Total expense recognized $ 4 $ 4 $ 4
v3.25.0.1
Stock-Based Compensation (Summary of Stock Awards Outstanding) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
RSU awards      
Schedule Of Shares Awarded [Abstract]      
Shares granted (in thousands) 598 670 654
Fair value (in millions) $ 59 $ 65 $ 64
Shares      
Outstanding at beginning of period (in shares) 1,115    
Granted (in shares) 598 670 654
Vested (in shares) (581)    
Forfeited (in shares) (73)    
Outstanding at end of period (in shares) 1,059 1,115  
Stock awards expected to vest (in shares) 1,014    
Weighted Average Grant Date Fair Value      
Weighted average fair value at beginning of period (usd per share) $ 96    
Granted (usd per share) 99    
Vested (usd per share) 95    
Forfeited (usd per share) 98    
Weighted average fair value at end of period (usd per share) 98 $ 96  
Weighted average fair value of awards expected to vest (usd per share) $ 98    
Performance awards      
Schedule Of Shares Awarded [Abstract]      
Shares granted (in thousands) 440 422 408
Fair value (in millions) $ 42 $ 42 $ 40
Shares      
Outstanding at beginning of period (in shares) 1,115    
Granted (in shares) 440 422 408
Vested (in shares) (338)    
Forfeited (in shares) (30)    
Outstanding at end of period (in shares) 1,187 1,115  
Stock awards expected to vest (in shares) 1,156    
Weighted Average Grant Date Fair Value      
Weighted average fair value at beginning of period (usd per share) $ 96    
Granted (usd per share) 95    
Vested (usd per share) 88    
Forfeited (usd per share) 96    
Weighted average fair value at end of period (usd per share) 98 $ 96  
Weighted average fair value of awards expected to vest (usd per share) $ 98    
v3.25.0.1
Employee Benefit Plans (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Jan. 01, 2023
Defined Benefit Plan Disclosure [Line Items]        
Maximum years of participation (in years) 35 years      
Matching contribution (as a percent) 100.00%      
Eligible pay (as a percent) 6.00%      
Additional contribution for employees not participating in defined pension plans (as a percent) 4.00%      
Vesting period (in years) 3 years      
Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Average Earnings, Period 3 years      
Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Defined Benefit Plan, Average Earnings, Period 5 years      
Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent) 100.00%      
Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 270 $ 676    
Average remaining service period (in years) 15 years      
Accumulated Benefit Obligation at measurement date $ 5,948 6,267    
Projected benefit obligation 5,980 6,299 $ 6,358  
Benefits paid 645 607    
Employer contributions 100 $ 100 $ 58  
Expected long-term rate of return on plan assets (as a percent)     6.50%  
Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 203      
Projected benefit obligation 203      
Benefits paid 30      
Employer contributions $ 30      
Pension Plan | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent) 8.50% 6.50%    
Pension Plan | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent) 7.00% 8.25%    
Pension Plan | Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Master trust allocation (as a percent) 98.00% 98.00%    
Expected long-term rate of return on plan assets (as a percent) 7.00%      
Pension Plan | Master Trust | Liability Hedging Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       35.00%
Pension Plan | Master Trust | Return Seeking Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       65.00%
Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 7 $ 19    
Average remaining service period (in years) 7 years      
Projected benefit obligation $ 334 347 $ 437  
Benefits paid 37 $ 58    
Employer contributions $ 27      
Expected long-term rate of return on plan assets (as a percent)   8.25% 6.50%  
Other Post-Retirement Benefit Plans | Minimum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent) 6.50% 6.50%    
Other Post-Retirement Benefit Plans | Maximum        
Defined Benefit Plan Disclosure [Line Items]        
Expected long-term rate of return on plan assets (as a percent) 8.25%      
Other Post-Retirement Benefit Plans | Master Trust        
Defined Benefit Plan Disclosure [Line Items]        
Master trust allocation (as a percent) 2.00% 2.00%    
Expected long-term rate of return on plan assets (as a percent) 8.50%      
Target allocation (as a percent) 100.00%      
Other Post-Retirement Benefit Plans | Master Trust | Liability Hedging Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       80.00%
Other Post-Retirement Benefit Plans | Master Trust | Return Seeking Assets        
Defined Benefit Plan Disclosure [Line Items]        
Target allocation (as a percent)       20.00%
Duke Energy Carolinas | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 73 $ 183    
Average remaining service period (in years) 11 years      
Accumulated Benefit Obligation at measurement date $ 1,444 1,517    
Projected benefit obligation 1,444 1,514 $ 1,554  
Benefits paid 177 177    
Employer contributions 26 26 15  
Duke Energy Carolinas | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 8      
Projected benefit obligation 8      
Benefits paid 2      
Employer contributions 2      
Duke Energy Carolinas | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 4 8    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 63 69 112  
Benefits paid 8 14    
Employer contributions 4      
Progress Energy | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 98 229    
Average remaining service period (in years) 11 years      
Accumulated Benefit Obligation at measurement date $ 1,861 1,975    
Projected benefit obligation 1,875 1,990 1,975  
Benefits paid 198 159    
Employer contributions 23 22 13  
Progress Energy | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 72      
Projected benefit obligation 72      
Benefits paid 8      
Employer contributions $ 8      
Progress Energy | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 5 years      
Projected benefit obligation $ 146 146 168  
Benefits paid 15 22    
Employer contributions 14      
Duke Energy Progress | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 46 107    
Average remaining service period (in years) 11 years      
Accumulated Benefit Obligation at measurement date $ 838 912    
Projected benefit obligation 838 911 909  
Benefits paid 111 80    
Employer contributions 14 13 8  
Duke Energy Progress | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 22      
Projected benefit obligation 22      
Benefits paid 3      
Employer contributions $ 3      
Duke Energy Progress | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 5 years      
Projected benefit obligation $ 87 84 95  
Benefits paid 6 $ 11    
Employer contributions 7      
Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Fair value evaluation period (in years)   5 years    
Duke Energy Florida | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 53 $ 120    
Average remaining service period (in years) 12 years      
Accumulated Benefit Obligation at measurement date $ 1,013 1,053    
Projected benefit obligation 1,027 1,069 1,055  
Benefits paid 88 78    
Employer contributions 9 9 5  
Duke Energy Florida | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 27      
Projected benefit obligation 27      
Benefits paid 3      
Employer contributions $ 3      
Duke Energy Florida | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 7 years      
Projected benefit obligation $ 60 60 69  
Benefits paid 6 10    
Employer contributions 7      
Duke Energy Indiana | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 17 45    
Average remaining service period (in years) 13 years      
Accumulated Benefit Obligation at measurement date $ 466 494    
Projected benefit obligation 471 496 499  
Benefits paid 41 40    
Employer contributions 8 8 5  
Duke Energy Indiana | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 1      
Projected benefit obligation $ 1      
Duke Energy Indiana | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 20 24 30  
Benefits paid 3 6    
Piedmont | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 10 23    
Average remaining service period (in years) 9 years      
Accumulated Benefit Obligation at measurement date $ 181 176    
Projected benefit obligation 181 175 170  
Benefits paid 12 16    
Employer contributions 3 3 2  
Piedmont | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 2      
Projected benefit obligation 2      
Piedmont | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 3 4    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 15 15 21  
Benefits paid 1 2    
Duke Energy Ohio | Pension Plan        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets $ 11 29    
Average remaining service period (in years) 14 years      
Accumulated Benefit Obligation at measurement date $ 304 317    
Projected benefit obligation 309 325 333  
Benefits paid 33 31    
Employer contributions 5 5 3  
Duke Energy Ohio | Pension Plan | Nonqualified Plan        
Defined Benefit Plan Disclosure [Line Items]        
Accumulated Benefit Obligation at measurement date 2      
Projected benefit obligation $ 2      
Duke Energy Ohio | Other Post-Retirement Benefit Plans        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets   1    
Average remaining service period (in years) 6 years      
Projected benefit obligation $ 18 19 20  
Benefits paid 2 3    
Employer contributions 2      
Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Actual return on plan assets   24    
Duke Energy Retirement Cash Balance Plan        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 72 $ 0 117  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense)        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 12   22  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Carolinas        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 3   3  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Progress Energy        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 5   5  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Progress        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 5   5  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge     1  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Piedmont        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 1   6  
Duke Energy Retirement Cash Balance Plan | Other Nonoperating Income (Expense) | Duke Energy Ohio        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 2   5  
Regulatory Assets, Noncurrent | Noncurrent assets        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 60   95  
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Carolinas        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 31   35  
Regulatory Assets, Noncurrent | Noncurrent assets | Progress Energy        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 23   23  
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Progress        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 16   16  
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Florida        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 7   7  
Regulatory Assets, Noncurrent | Noncurrent assets | Duke Energy Indiana        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge 3   8  
Regulatory Assets, Noncurrent | Noncurrent assets | Piedmont        
Defined Benefit Plan Disclosure [Line Items]        
Settlement charge $ 4   $ 29  
v3.25.0.1
Employee Benefit Plans (Contributions to Defined Benefit Pension Plans) (Details) - Pension Plan - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 100 $ 100 $ 58
Duke Energy Carolinas      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 26 26 15
Progress Energy      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 23 22 13
Duke Energy Progress      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 14 13 8
Duke Energy Florida      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 9 9 5
Duke Energy Ohio      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 5 5 3
Duke Energy Indiana      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 8 8 5
Piedmont      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 3 $ 3 $ 2
v3.25.0.1
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Plan      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost $ 107 $ 110  
Interest cost on projected benefit obligation 325 344  
Amortization of regulatory asset 2 3 $ 3
Pension Plan | Duke Energy Carolinas      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 36 36  
Interest cost on projected benefit obligation 78 84 59
Expected return on plan assets (161) (160) (152)
Amortization of actuarial loss 8 2 16
Amortization of prior service credit (1) (1) (3)
Amortization of settlement charges 12 9 9
Net periodic pension costs (27) (28) (23)
Service cost 37 38 48
Pension Plan | Progress Energy      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 30 30  
Interest cost on projected benefit obligation 103 107 77
Expected return on plan assets (217) (198) (183)
Amortization of actuarial loss 10 4 23
Amortization of settlement charges 10 5 8
MRVA method change     24
Net periodic pension costs (62) (49) (8)
Service cost 32 33 43
Pension Plan | Duke Energy Progress      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 18 18  
Interest cost on projected benefit obligation 47 49 35
Expected return on plan assets (99) (93) (88)
Amortization of actuarial loss 6 2 12
Amortization of settlement charges 9 3 7
Net periodic pension costs (18) (20) (9)
Service cost 19 19 25
Pension Plan | Duke Energy Florida      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 12 12  
Interest cost on projected benefit obligation 56 57 41
Expected return on plan assets (116) (104) (94)
Amortization of actuarial loss 5 2 12
Amortization of settlement charges 2 1 1
MRVA method change     24
Net periodic pension costs (40) (31) 1
Service cost 13 13 17
Pension Plan | Duke Energy Ohio      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 3 3  
Interest cost on projected benefit obligation 17 18 13
Expected return on plan assets (25) (24) (23)
Amortization of actuarial loss 1   4
Amortization of settlement charges 2   5
Net periodic pension costs (2) (3) 3
Amortization of regulatory asset 1 1 1
Service cost 3 3 4
Pension Plan | Duke Energy Indiana      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 6 6  
Interest cost on projected benefit obligation 26 27 20
Expected return on plan assets (42) (40) (37)
Amortization of actuarial loss 4 2 9
Amortization of prior service credit (2) (2) (2)
Amortization of settlement charges 2 1 1
Net periodic pension costs (6) (6)  
Service cost 6 6 9
Pension Plan | Piedmont      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 4 3  
Interest cost on projected benefit obligation 9 9 8
Expected return on plan assets (20) (20) (24)
Amortization of actuarial loss 3   5
Amortization of prior service credit (7) (7) (7)
Amortization of settlement charges 5 4 7
Net periodic pension costs (6) (10) (6)
Service cost 4 4 5
Pension Plan | Parent      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 325 344 249
Expected return on plan assets (613) (588) (558)
Amortization of actuarial loss 36 10 81
Amortization of prior service credit (13) (14) (18)
Amortization of settlement charges 32 19 32
MRVA method change     24
Net periodic pension costs (119) (112) (38)
Service cost 114 117 152
Other Post-Retirement Benefit Plans      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost 2 2 3
Interest cost on projected benefit obligation 17 22 17
Expected return on plan assets (11) (11) (10)
Amortization of actuarial loss (6) (6) 2
Amortization of prior service credit (21) (23) (8)
Net periodic pension costs (19) (16) 4
Amortization of regulatory asset 4 4 4
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Service cost   1 1
Interest cost on projected benefit obligation 3 5 4
Expected return on plan assets (8) (7) (6)
Amortization of actuarial loss (2) (3)  
Amortization of prior service credit (4) (5) (3)
Net periodic pension costs (11) (9) (4)
Other Post-Retirement Benefit Plans | Progress Energy      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 7 9 7
Amortization of actuarial loss 8 8 1
Amortization of prior service credit (11) (11) (2)
Net periodic pension costs 4 6 6
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 4 5 4
Amortization of actuarial loss 6 5 1
Amortization of prior service credit (6) (6) (1)
Net periodic pension costs 4 4 4
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 3 4 3
Amortization of actuarial loss 2 2 1
Amortization of prior service credit (5) (5) (1)
Net periodic pension costs   1 3
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 1 1 1
Amortization of actuarial loss (2) (2)  
Net periodic pension costs (1) (1) 1
Amortization of regulatory asset 1 1 1
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 1 1 1
Amortization of actuarial loss (4) (3)  
Amortization of prior service credit (5) (5)  
Net periodic pension costs (8) (7) 1
Other Post-Retirement Benefit Plans | Piedmont      
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]      
Interest cost on projected benefit obligation 1 1 1
Expected return on plan assets (2) (2) (2)
Amortization of prior service credit     (2)
Net periodic pension costs $ (1) $ (1) $ (3)
v3.25.0.1
Employee Benefit Plans (Amounts Recognized in Accumulated Other Comprehensive Income and Regulatory Assets and Liabilities) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Accumulated other comprehensive (income) loss      
Net amount recognized in accumulated other comprehensive income [1] $ (8) $ 1 $ 19
Progress Energy      
Accumulated other comprehensive (income) loss      
Net amount recognized in accumulated other comprehensive income 0 2 $ (5)
Pension Plan      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 147 5  
Accumulated other comprehensive (income) loss      
Deferred income tax benefit 3    
Amortization of prior year service credit 1    
Amortization of prior year service credit (12) (2)  
Net amount recognized in accumulated other comprehensive income (8) (2)  
Pension Plan | Duke Energy Carolinas      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 39 (14)  
Pension Plan | Progress Energy      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 33 8  
Accumulated other comprehensive (income) loss      
Amortization of prior year service credit 1    
Net amount recognized in accumulated other comprehensive income 1    
Pension Plan | Duke Energy Progress      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 1    
Pension Plan | Duke Energy Florida      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 31 9  
Pension Plan | Duke Energy Ohio      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 11 (3)  
Pension Plan | Duke Energy Indiana      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 6 (2)  
Accumulated other comprehensive (income) loss      
Amortization of prior year service credit (2)    
Net amount recognized in accumulated other comprehensive income (2)    
Pension Plan | Piedmont      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 16 13  
Other Post-Retirement Benefit Plans      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (42) 73  
Regulatory liabilities, net (decrease) increase (76) 41  
Accumulated other comprehensive (income) loss      
Amortization of prior year service credit   1  
Amortization of prior year actuarial gain 1    
Net amount recognized in accumulated other comprehensive income 1 1  
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (62) 79  
Regulatory liabilities, net (decrease) increase (71) 62  
Other Post-Retirement Benefit Plans | Progress Energy      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 23 (7)  
Regulatory liabilities, net (decrease) increase 12    
Accumulated other comprehensive (income) loss      
Amortization of prior year actuarial gain   (1)  
Net amount recognized in accumulated other comprehensive income   (1)  
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 17 (5)  
Regulatory liabilities, net (decrease) increase 12    
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase 5    
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (1) (2)  
Regulatory liabilities, net (decrease) increase (3) (4)  
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase (3) (2)  
Regulatory liabilities, net (decrease) increase $ (12) (8)  
Other Post-Retirement Benefit Plans | Piedmont      
Amounts Recognized in Regulatory Assets and Liabilities [Abstract]      
Regulatory assets, net increase   $ 1  
[1] Net of income tax expense of approximately $70 million, $40 million and $52 million for the years ended December 31, 2024, 2023 and 2022, respectively.
v3.25.0.1
Employee Benefit Plans (Projected Benefit Obligations Reconciliation of Funded Status to Net Amount Recognized) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date $ 6,299 $ 6,358  
Service cost 107 110  
Interest cost 325 344  
Actuarial (gain)/loss (106) 94  
Benefits paid (645) (607)  
Obligation at measurement date 5,980 6,299 $ 6,358
Accumulated Benefit Obligation at measurement date 5,948 6,267  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 7,162 6,993  
Employer contributions 100 100 58
Actual return on plan assets 270 676  
Benefits paid (645) (607)  
Plan assets at measurement date 6,887 7,162 6,993
Funded status of plan 907 863  
Pension Plan | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (30)    
Obligation at measurement date 203    
Accumulated Benefit Obligation at measurement date 203    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 30    
Pension Plan | Duke Energy Carolinas      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,514 1,554  
Service cost 36 36  
Interest cost 78 84 59
Actuarial (gain)/loss (13) 11  
Benefits paid (177) (177)  
Transfers (6) (6)  
Obligation at measurement date 1,444 1,514 1,554
Accumulated Benefit Obligation at measurement date 1,444 1,517  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,853 1,815  
Employer contributions 26 26 15
Actual return on plan assets 73 183  
Benefits paid (177) (177)  
Transfers 6 6  
Plan assets at measurement date 1,781 1,853 1,815
Funded status of plan 337 339  
Pension Plan | Duke Energy Carolinas | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (2)    
Obligation at measurement date 8    
Accumulated Benefit Obligation at measurement date 8    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 2    
Pension Plan | Progress Energy      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,990 1,975  
Service cost 30 30  
Interest cost 103 107 77
Actuarial (gain)/loss (50) 47  
Benefits paid (198) (159)  
Transfers   10  
Obligation at measurement date 1,875 1,990 1,975
Accumulated Benefit Obligation at measurement date 1,861 1,975  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 2,453 2,371  
Employer contributions 23 22 13
Actual return on plan assets 98 229  
Benefits paid (198) (159)  
Transfers   (10)  
Plan assets at measurement date 2,376 2,453 2,371
Funded status of plan 501 463  
Pension Plan | Progress Energy | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (8)    
Obligation at measurement date 72    
Accumulated Benefit Obligation at measurement date 72    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 8    
Pension Plan | Duke Energy Progress      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 911 909  
Service cost 18 18  
Interest cost 47 49 35
Actuarial (gain)/loss (27) 18  
Benefits paid (111) (80)  
Transfers   3  
Obligation at measurement date 838 911 909
Accumulated Benefit Obligation at measurement date 838 912  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,120 1,083  
Employer contributions 14 13 8
Actual return on plan assets 46 107  
Benefits paid (111) (80)  
Transfers   (3)  
Plan assets at measurement date 1,069 1,120 1,083
Funded status of plan 231 209  
Pension Plan | Duke Energy Progress | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (3)    
Obligation at measurement date 22    
Accumulated Benefit Obligation at measurement date 22    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 3    
Pension Plan | Duke Energy Florida      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 1,069 1,055  
Service cost 12 12  
Interest cost 56 57 41
Actuarial (gain)/loss (22) 29  
Benefits paid (88) (78)  
Transfers   6  
Obligation at measurement date 1,027 1,069 1,055
Accumulated Benefit Obligation at measurement date 1,013 1,053  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 1,316 1,271  
Employer contributions 9 9 5
Actual return on plan assets 53 120  
Benefits paid (88) (78)  
Transfers   (6)  
Plan assets at measurement date 1,290 1,316 1,271
Funded status of plan 263 247  
Pension Plan | Duke Energy Florida | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Benefits paid (3)    
Obligation at measurement date 27    
Accumulated Benefit Obligation at measurement date 27    
Change in Fair Value of Plan Assets [Rollforward]      
Employer contributions 3    
Pension Plan | Duke Energy Ohio      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 325 333  
Service cost 3 3  
Interest cost 17 18 13
Actuarial (gain)/loss (3) 2  
Benefits paid (33) (31)  
Obligation at measurement date 309 325 333
Accumulated Benefit Obligation at measurement date 304 317  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 326 323  
Employer contributions 5 5 3
Actual return on plan assets 11 29  
Benefits paid (33) (31)  
Plan assets at measurement date 309 326 323
Funded status of plan   1  
Pension Plan | Duke Energy Ohio | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at measurement date 2    
Accumulated Benefit Obligation at measurement date 2    
Pension Plan | Duke Energy Indiana      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 496 499  
Service cost 6 6  
Interest cost 26 27 20
Actuarial (gain)/loss (16) 4  
Benefits paid (41) (40)  
Obligation at measurement date 471 496 499
Accumulated Benefit Obligation at measurement date 466 494  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 514 501  
Employer contributions 8 8 5
Actual return on plan assets 17 45  
Benefits paid (41) (40)  
Plan assets at measurement date 498 514 501
Funded status of plan 27 18  
Pension Plan | Duke Energy Indiana | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at measurement date 1    
Accumulated Benefit Obligation at measurement date 1    
Pension Plan | Piedmont      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 175 170  
Service cost 4 3  
Interest cost 9 9 8
Actuarial (gain)/loss 5 9  
Benefits paid (12) (16)  
Obligation at measurement date 181 175 170
Accumulated Benefit Obligation at measurement date 181 176  
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 213 203  
Employer contributions 3 3 2
Actual return on plan assets 10 23  
Benefits paid (12) (16)  
Plan assets at measurement date 214 213 203
Funded status of plan 33 38  
Pension Plan | Piedmont | Nonqualified Plan      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at measurement date 2    
Accumulated Benefit Obligation at measurement date 2    
Other Post-Retirement Benefit Plans      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 347 437  
Service cost 2 2 3
Interest cost 17 22 17
Plan participants' contributions 3 4  
Actuarial (gain)/loss 2 (10)  
Benefits paid (37) (58)  
Transfers   50  
Obligation at measurement date 334 347 437
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 156 162  
Employer contributions 27    
Actual return on plan assets 7 19  
Benefits paid (37) (58)  
Tax refund 5 (13)  
Plan participants' contributions 3 4  
Employer contributions   42  
Plan assets at measurement date 161 156 162
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan (173) (191)  
Other Post-Retirement Benefit Plans | Duke Energy Carolinas      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 69 112  
Service cost   1 1
Interest cost 3 5 4
Plan participants' contributions 1 1  
Actuarial (gain)/loss (2) (2)  
Benefits paid (8) (14)  
Transfers   34  
Obligation at measurement date 63 69 112
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 102 105  
Employer contributions 4    
Actual return on plan assets 4 8  
Benefits paid (8) (14)  
Tax refund 4 4  
Plan participants' contributions 1 1  
Employer contributions   6  
Plan assets at measurement date 107 102 105
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   (8)  
Funded status of plan 44 33  
Other Post-Retirement Benefit Plans | Progress Energy      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 146 168  
Interest cost 7 9 7
Plan participants' contributions 1 1  
Actuarial (gain)/loss 7 (10)  
Benefits paid (15) (22)  
Transfers   0  
Obligation at measurement date 146 146 168
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (1)    
Employer contributions 14    
Benefits paid (15) (22)  
Tax refund 0 0  
Plan participants' contributions 1 1  
Employer contributions   20  
Plan assets at measurement date (1) (1)  
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan (147) (147)  
Other Post-Retirement Benefit Plans | Duke Energy Progress      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 84 95  
Interest cost 4 5 4
Plan participants' contributions   1  
Actuarial (gain)/loss 5 (6)  
Benefits paid (6) (11)  
Transfers   0  
Obligation at measurement date 87 84 95
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (1) (2)  
Employer contributions 7    
Benefits paid (6) (11)  
Tax refund 0 0  
Plan participants' contributions   1  
Employer contributions   11  
Plan assets at measurement date   (1) (2)
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan (87) (85)  
Other Post-Retirement Benefit Plans | Duke Energy Florida      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 60 69  
Interest cost 3 4 3
Plan participants' contributions   1  
Actuarial (gain)/loss 3 (4)  
Benefits paid (6) (10)  
Transfers   0  
Obligation at measurement date 60 60 69
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date (1) (2)  
Employer contributions 7    
Benefits paid (6) (10)  
Tax refund 0 0  
Plan participants' contributions   1  
Employer contributions   10  
Plan assets at measurement date   (1) (2)
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan (60) (61)  
Other Post-Retirement Benefit Plans | Duke Energy Ohio      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 19 20  
Interest cost 1 1 1
Actuarial (gain)/loss   1  
Benefits paid (2) (3)  
Transfers   0  
Obligation at measurement date 18 19 20
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 7 7  
Employer contributions 2    
Actual return on plan assets   1  
Benefits paid (2) (3)  
Tax refund 0 0  
Employer contributions   2  
Plan assets at measurement date 7 7 7
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan (11) (12)  
Other Post-Retirement Benefit Plans | Duke Energy Indiana      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 24 30  
Interest cost 1 1 1
Actuarial (gain)/loss (2) (1)  
Benefits paid (3) (6)  
Transfers   0  
Obligation at measurement date 20 24 30
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 3 3  
Benefits paid (3) (6)  
Tax refund 0 0  
Employer contributions   6  
Plan assets at measurement date   3 3
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan (20) (21)  
Other Post-Retirement Benefit Plans | Piedmont      
Change in Projected Benefit Obligation [Rollforward]      
Obligation at prior measurement date 15 21  
Interest cost 1 1 1
Actuarial (gain)/loss   1  
Benefits paid (1) (2)  
Transfers   6  
Obligation at measurement date 15 15 21
Change in Fair Value of Plan Assets [Rollforward]      
Plan assets at prior measurement date 27 31  
Actual return on plan assets 3 4  
Benefits paid (1) (2)  
Tax refund 0 (7)  
Employer contributions   1  
Plan assets at measurement date 29 27 $ 31
Defined Benefit Plan, Plan Assets, 401(h) Obligation Transferred To (From) Plan   0  
Funded status of plan $ 14 $ 12  
v3.25.0.1
Employee Benefit Plans (Amounts Recognized in Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability $ 434 $ 485
Regulatory assets 17,010 17,266
Regulatory liabilities 16,119 15,408
Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 24 57
Regulatory assets 4,884 5,480
Regulatory liabilities 7,210 6,577
Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 254 266
Regulatory assets 8,265 8,091
Regulatory liabilities 5,780 5,501
Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 141 146
Regulatory assets 5,181 5,488
Regulatory liabilities 4,918 4,675
Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 92 98
Regulatory assets 3,086 2,603
Regulatory liabilities 862 826
Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 89 97
Regulatory assets 793 749
Regulatory liabilities 499 553
Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 82 115
Regulatory assets 1,153 996
Regulatory liabilities 1,587 1,668
Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 7 8
Regulatory assets 579 571
Regulatory liabilities 1,024 1,086
Pension Plan    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 907 863
Net asset (liability) recognized (907) (863)
Regulatory assets 2,168 2,021
Accumulated other comprehensive income (loss)    
Deferred income tax benefit (24) (27)
Prior service credit   (1)
Net actuarial gain 115 127
Net amounts recognized in accumulated other comprehensive income 91 99
Pension Plan | Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 337 339
Net asset (liability) recognized (337) (339)
Regulatory assets 570 531
Pension Plan | Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 501 463
Net asset (liability) recognized (501) (463)
Regulatory assets 711 678
Accumulated other comprehensive income (loss)    
Deferred income tax benefit (1) (1)
Net actuarial gain 4 3
Net amounts recognized in accumulated other comprehensive income 3 2
Pension Plan | Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 231 209
Net asset (liability) recognized (231) (209)
Regulatory assets 354 353
Pension Plan | Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 263 247
Net asset (liability) recognized (263) (247)
Regulatory assets 356 325
Pension Plan | Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 74 74
Noncurrent pension liability 74 73
Net asset (liability) recognized   (1)
Regulatory assets 100 89
Pension Plan | Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 101 105
Noncurrent pension liability 74 87
Net asset (liability) recognized (27) (18)
Regulatory assets 182 176
Accumulated other comprehensive income (loss)    
Net actuarial gain   2
Net amounts recognized in accumulated other comprehensive income   2
Pension Plan | Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 33 38
Net asset (liability) recognized (33) (38)
Regulatory assets 113 97
Other Post-Retirement Benefit Plans    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 8 12
Noncurrent pension liability 165 179
Net asset (liability) recognized 173 191
Regulatory assets 81 123
Regulatory liabilities 154 230
Accumulated other comprehensive income (loss)    
Deferred income tax expense 3 3
Net actuarial gain (12) (13)
Net amounts recognized in accumulated other comprehensive income (9) (10)
Other Post-Retirement Benefit Plans | Duke Energy Carolinas    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 44 61
Current pension liability   3
Noncurrent pension liability   25
Net asset (liability) recognized (44) (33)
Regulatory assets 17 79
Regulatory liabilities 35 106
Other Post-Retirement Benefit Plans | Progress Energy    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 5 5
Noncurrent pension liability 142 142
Net asset (liability) recognized 147 147
Regulatory assets 62 39
Regulatory liabilities 12  
Accumulated other comprehensive income (loss)    
Net actuarial gain (1) (1)
Net amounts recognized in accumulated other comprehensive income (1) (1)
Other Post-Retirement Benefit Plans | Duke Energy Progress    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 3 3
Noncurrent pension liability 84 82
Net asset (liability) recognized 87 85
Regulatory assets 46 29
Regulatory liabilities 12  
Other Post-Retirement Benefit Plans | Duke Energy Florida    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Current pension liability 2 2
Noncurrent pension liability 58 59
Net asset (liability) recognized 60 61
Regulatory assets 16 11
Other Post-Retirement Benefit Plans | Duke Energy Ohio    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 1 1
Current pension liability 1 1
Noncurrent pension liability 11 12
Net asset (liability) recognized 11 12
Regulatory assets 1 2
Regulatory liabilities 14 17
Other Post-Retirement Benefit Plans | Duke Energy Indiana    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Noncurrent pension liability 20 21
Net asset (liability) recognized 20 21
Regulatory assets 20 23
Regulatory liabilities 62 74
Other Post-Retirement Benefit Plans | Piedmont    
Amounts Recognized in Consolidated Balance Sheets [Abstract]    
Prefunded pension 14 12
Net asset (liability) recognized (14) (12)
Regulatory assets $ 1 $ 1
v3.25.0.1
Employee Benefit Plans (Information For Plans with Accumulated Benefit Obligation in Excess of Plan Assets) (Details) - Pension Plan - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Duke Energy Ohio    
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]    
Projected benefit obligation $ 106 $ 105
Accumulated benefit obligation 101 100
Fair value of plan assets 32 31
Duke Energy Indiana    
Information For Plans With Accumulated Benefit Obligation In Excess Of Plan Assets [Abstract]    
Projected benefit obligation 203 208
Accumulated benefit obligation 197 203
Fair value of plan assets $ 128 $ 121
v3.25.0.1
Employee Benefit Plans (Assumptions Used For Pension Benefits Accounting) (Details)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Pension Plan      
Benefit Obligations      
Discount rate (as a percent) 5.70% 5.40% 5.60%
Interest crediting rate (as a percent) 4.78% 4.15% 4.35%
Net Periodic Benefit Cost      
Interest crediting rate (as a percent) 4.15% 4.35% 4.00%
Expected long-term rate of return on plan assets (as a percent)     6.50%
Pension Plan | Minimum      
Benefit Obligations      
Salary increase (as a percent) 3.50% 3.50% 3.50%
Net Periodic Benefit Cost      
Discount rate (as a percent) 5.00%   2.90%
Salary increase (as a percent) 3.50% 3.50% 3.50%
Expected long-term rate of return on plan assets (as a percent) 8.50% 6.50%  
Pension Plan | Maximum      
Benefit Obligations      
Salary increase (as a percent) 4.00% 4.00% 4.00%
Net Periodic Benefit Cost      
Discount rate (as a percent) 5.40% 5.60% 5.70%
Salary increase (as a percent) 4.00% 4.00% 4.00%
Expected long-term rate of return on plan assets (as a percent) 7.00% 8.25%  
Other Post-Retirement Benefit Plans      
Benefit Obligations      
Discount rate (as a percent) 5.70% 5.40% 5.60%
Net Periodic Benefit Cost      
Discount rate (as a percent) 5.40% 5.60% 2.90%
Expected long-term rate of return on plan assets (as a percent)   8.25% 6.50%
Other Post-Retirement Benefit Plans | Minimum      
Net Periodic Benefit Cost      
Expected long-term rate of return on plan assets (as a percent) 6.50% 6.50%  
Other Post-Retirement Benefit Plans | Maximum      
Net Periodic Benefit Cost      
Expected long-term rate of return on plan assets (as a percent) 8.25%    
v3.25.0.1
Employee Benefit Plans (Expected Benefit Payments) (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Pension Plan  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 $ 628
2026 606
2027 586
2028 572
2029 546
2030-2034 2,407
Pension Plan | Duke Energy Carolinas  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 173
2026 161
2027 153
2028 149
2029 138
2030-2034 567
Pension Plan | Progress Energy  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 183
2026 179
2027 175
2028 173
2029 167
2030-2034 762
Pension Plan | Duke Energy Progress  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 98
2026 91
2027 87
2028 85
2029 79
2030-2034 338
Pension Plan | Duke Energy Florida  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 84
2026 87
2027 87
2028 87
2029 87
2030-2034 420
Pension Plan | Duke Energy Ohio  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 31
2026 30
2027 29
2028 29
2029 29
2030-2034 129
Pension Plan | Duke Energy Indiana  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 43
2026 42
2027 42
2028 41
2029 42
2030-2034 197
Pension Plan | Piedmont  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 19
2026 18
2027 17
2028 17
2029 16
2030-2034 73
Other Post-Retirement Benefit Plans  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 52
2026 45
2027 41
2028 38
2029 35
2030-2034 124
Other Post-Retirement Benefit Plans | Duke Energy Carolinas  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 13
2026 11
2027 9
2028 8
2029 7
2030-2034 21
Other Post-Retirement Benefit Plans | Progress Energy  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 18
2026 16
2027 16
2028 15
2029 14
2030-2034 59
Other Post-Retirement Benefit Plans | Duke Energy Progress  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 11
2026 10
2027 9
2028 9
2029 8
2030-2034 35
Other Post-Retirement Benefit Plans | Duke Energy Florida  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 8
2026 7
2027 7
2028 6
2029 6
2030-2034 24
Other Post-Retirement Benefit Plans | Duke Energy Ohio  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 3
2026 3
2027 2
2028 2
2029 2
2030-2034 6
Other Post-Retirement Benefit Plans | Duke Energy Indiana  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 4
2026 3
2027 3
2028 3
2029 2
2030-2034 8
Other Post-Retirement Benefit Plans | Piedmont  
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]  
2025 2
2026 2
2027 2
2028 2
2029 2
2030-2034 $ 6
v3.25.0.1
Employee Benefit Plans (Assumed Health Care Cost Trend Rates) (Details)
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan Disclosure [Line Items]    
Health care cost trend rate assumed for next year (as a percent) 7.00% 6.50%
Rate to which the cost trend is assumed to decline (the ultimate trend rate) (as a percent) 4.75% 4.75%
v3.25.0.1
Employee Benefit Plans (Target and Actual Asset Allocations) (Details)
Dec. 31, 2024
Dec. 31, 2023
Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 100.00%  
Actual asset allocation 100.00% 100.00%
Master Trust | Global equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 45.00%  
Actual asset allocation 44.00% 45.00%
Master Trust | Global private equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 2.00%  
Actual asset allocation 1.00% 2.00%
Master Trust | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 35.00%  
Actual asset allocation 33.00% 35.00%
Master Trust | Return seeking debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 7.00%  
Actual asset allocation 7.00% 6.00%
Master Trust | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 4.00%  
Actual asset allocation 5.00% 4.00%
Master Trust | Real estate and cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 7.00%  
Actual asset allocation 10.00% 8.00%
OPEB    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 100.00%  
Actual asset allocation 100.00% 100.00%
OPEB | U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 29.00%  
Actual asset allocation 34.00% 30.00%
OPEB | Non-U.S. equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 15.00%  
Actual asset allocation 15.00% 15.00%
OPEB | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 47.00%  
Actual asset allocation 31.00% 30.00%
OPEB | Real estate    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 5.00%  
Actual asset allocation 7.00% 7.00%
OPEB | Cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 4.00%  
Actual asset allocation 13.00% 18.00%
Other Post-Retirement Benefit Plans | Master Trust    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 100.00%  
Actual asset allocation 100.00% 100.00%
Other Post-Retirement Benefit Plans | Master Trust | Global equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 14.00%  
Actual asset allocation 15.00% 14.00%
Other Post-Retirement Benefit Plans | Master Trust | Global private equity securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 1.00%  
Other Post-Retirement Benefit Plans | Master Trust | Debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 80.00%  
Actual asset allocation 79.00% 79.00%
Other Post-Retirement Benefit Plans | Master Trust | Return seeking debt securities    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 2.00%  
Actual asset allocation 2.00% 2.00%
Other Post-Retirement Benefit Plans | Master Trust | Hedge funds    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 1.00%  
Actual asset allocation   2.00%
Other Post-Retirement Benefit Plans | Master Trust | Real estate and cash    
Defined Benefit Plan Disclosure [Line Items]    
Target allocation (as a percent) 2.00%  
Actual asset allocation 4.00% 3.00%
v3.25.0.1
Employee Benefit Plans (Fair Value Measurements of Plan Assets - Master Retirement Trust) (Details) - USD ($)
$ in Millions
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 6,969 $ 7,241  
OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 20 $ 20  
Duke Energy Carolinas | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 27.00% 27.00%  
Progress Energy | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 33.00% 33.00%  
Duke Energy Progress | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 15.00% 15.00%  
Duke Energy Florida | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 18.00% 18.00%  
Duke Energy Ohio | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 5.00% 5.00%  
Duke Energy Indiana | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 7.00% 7.00%  
Piedmont | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Allocated assets (as a percent) 3.00% 3.00%  
Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 2,461 $ 2,221  
Equity securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 10 9  
Corporate debt securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,415 2,807  
Short-term investment funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 310 233  
Partnership interests | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 68 76  
Hedge funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 164 164  
Real estate | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 1  
U.S. government bonds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1,398 1,571  
Governments bonds – foreign | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 128 107  
Cash | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 15 7  
Government and commercial mortgage-backed securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 1  
Net pending transactions and other investments | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 9 54  
Cash and cash equivalents | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 3 4  
Debt securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 6 6  
Level 1 | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,242 2,042  
Level 1 | Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,216 1,995  
Level 1 | Cash | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 15 7  
Level 1 | Net pending transactions and other investments | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 11 40  
Level 2 | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 4,481 4,944  
Level 2 | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 20 20  
Level 2 | Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 231 211  
Level 2 | Equity securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 10 9  
Level 2 | Corporate debt securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 2,415 2,807  
Level 2 | Short-term investment funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 310 233  
Level 2 | Real estate | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 1  
Level 2 | U.S. government bonds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1,398 1,571  
Level 2 | Governments bonds – foreign | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 128 107  
Level 2 | Government and commercial mortgage-backed securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 1 1  
Level 2 | Net pending transactions and other investments | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets (2) 14  
Level 2 | Cash and cash equivalents | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 3 4  
Level 2 | Debt securities | OPEB      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 6 6  
Level 3      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 68 76 $ 62
Level 3 | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 68 76  
Level 3 | Partnership interests | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 68 76  
Not Categorized | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 178 179  
Not Categorized | Equity securities | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets 14 15  
Not Categorized | Hedge funds | Master Trust      
Defined Benefit Plan Disclosure [Line Items]      
Total assets $ 164 $ 164  
v3.25.0.1
Employee Benefit Plans (Reconciliation of Assets Measured at Fair Value on a Recurring Basis) (Details) - Level 3 - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Defined Benefit Plan, Change in Fair Value of Plan Assets, Level 3 Reconciliation [Roll Forward]    
Plan assets at prior measurement date $ 76 $ 62
Sales (10) (8)
Total gains and other, net 2 22
Plan assets at measurement date $ 68 $ 76
v3.25.0.1
Employee Benefit Plans (Employee Savings Plans) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 257 $ 238 $ 246
Duke Energy Carolinas      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 81 75 76
Progress Energy      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 72 62 65
Duke Energy Progress      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 43 40 43
Duke Energy Florida      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 29 22 22
Duke Energy Ohio      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 6 6 6
Duke Energy Indiana      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions 13 13 12
Piedmont      
Defined Benefit Plan Disclosure [Line Items]      
Employer contributions $ 14 $ 13 $ 13
v3.25.0.1
Income Taxes (Narrative) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Income Tax Disclosure [Line Items]      
Alternative minimum tax $ 133 $ 69  
Net proceeds related to the sale of certain tax credits 558 28 $ 0
Duke Energy Carolinas      
Income Tax Disclosure [Line Items]      
Deferred tax asset 449    
Tax credits 558    
Net proceeds related to the sale of certain tax credits 440 0 0
Duke Energy Carolinas | Sale of Nuclear Power PTCs      
Income Tax Disclosure [Line Items]      
Increase (decrease) in deferred tax asset 428    
Duke Energy Progress      
Income Tax Disclosure [Line Items]      
Deferred tax asset 73    
Net proceeds related to the sale of certain tax credits 71 0 0
Duke Energy Progress | Sale of Nuclear Power PTCs      
Income Tax Disclosure [Line Items]      
Increase (decrease) in deferred tax asset 65    
Duke Energy Florida      
Income Tax Disclosure [Line Items]      
Net proceeds related to the sale of certain tax credits 47 $ 28 $ 0
Duke Energy Florida | Sale of Nuclear Power PTCs      
Income Tax Disclosure [Line Items]      
Increase (decrease) in deferred tax asset $ 43    
v3.25.0.1
Income Taxes (Components of Income Tax Expense) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Current income taxes      
Federal $ (365) $ 71 $ 1
State 31 1 (8)
Foreign 2 3 4
Total current income taxes (332) 75 (3)
Deferred income taxes      
Federal 858 319 328
State 81 53 (14)
Total deferred income taxes 939 372 314
ITC amortization (17) (9) (11)
Income tax expense from continuing operations 590 438 300
Tax benefit from discontinued operations (50) (359) (503)
Total income tax expense included in Consolidated Statements of Operations 540 79 (203)
Net operating loss carry forward 523 214 550
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Domestic 5,145 4,700 3,991
Foreign 49 67 87
Income from continuing operations before income taxes 5,194 4,767 4,078
Alternative minimum tax 133 69  
Duke Energy Carolinas      
Current income taxes      
Federal 178 173 (71)
State 75 22 (13)
Total current income taxes 253 195 (84)
Deferred income taxes      
Federal 10 (43) 230
State (25) (7) (16)
Total deferred income taxes (15) (50) 214
ITC amortization (12) (4) (4)
Income tax expense from continuing operations 226 141 126
Total income tax expense included in Consolidated Statements of Operations 226 141 126
Net operating loss carry forward 47 2 97
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 2,109 1,611 1,726
Progress Energy      
Current income taxes      
Federal 359 459 (13)
State 34 38 (3)
Total current income taxes 393 497 (16)
Deferred income taxes      
Federal (22) (154) 310
State 59 38 59
Total deferred income taxes 37 (116) 369
ITC amortization (4) (4) (5)
Income tax expense from continuing operations 426 377 348
Total income tax expense included in Consolidated Statements of Operations 426 377 348
Net operating loss carry forward 85 116 128
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 2,597 2,333 2,176
Duke Energy Progress      
Current income taxes      
Federal 373 198 37
State 40 4  
Total current income taxes 413 202 37
Deferred income taxes      
Federal (215) (69) 118
State (6) 19 7
Total deferred income taxes (221) (50) 125
ITC amortization (3) (3) (4)
Income tax expense from continuing operations 189 149 158
Total income tax expense included in Consolidated Statements of Operations 189 149 158
Net operating loss carry forward 66 59 9
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,353 1,147 1,166
Proceeds from sale of PTCs   28  
Duke Energy Florida      
Current income taxes      
Federal 14 279 (37)
State (12) 71 (23)
Total current income taxes 2 350 (60)
Deferred income taxes      
Federal 181 (89) 201
State 86   84
Total deferred income taxes 267 (89) 285
ITC amortization (1)    
Income tax expense from continuing operations 268 261 225
Total income tax expense included in Consolidated Statements of Operations 268 261 225
Net operating loss carry forward 30 5 111
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 1,329 1,277 1,134
Proceeds from sale of PTCs   28  
Duke Energy Ohio      
Current income taxes      
Federal 52 (46) (2)
State 3 (3) 1
Total current income taxes 55 (49) (1)
Deferred income taxes      
Federal 8 111 (22)
State 1 1 3
Total deferred income taxes 9 112 (19)
ITC amortization     (1)
Income tax expense from continuing operations 64 63 (21)
Total income tax expense included in Consolidated Statements of Operations 64 63 (21)
Net operating loss carry forward 26 22 7
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 405 397 281
Duke Energy Indiana      
Current income taxes      
Federal 70 10 38
State 12 9 2
Total current income taxes 82 19 40
Deferred income taxes      
Federal (19) 77 (63)
State 8 14  
Total deferred income taxes (11) 91 (63)
ITC amortization     (1)
Income tax expense from continuing operations 71 110 (24)
Total income tax expense included in Consolidated Statements of Operations 71 110 (24)
Net operating loss carry forward 8 54 13
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes 512 607 113
Piedmont      
Current income taxes      
Federal 40 44 32
State (6) 3 2
Total current income taxes 34 47 34
Deferred income taxes      
Federal 40 25 12
State 21 12 (7)
Total deferred income taxes 61 37 5
Income tax expense from continuing operations 95 84 39
Total income tax expense included in Consolidated Statements of Operations 95 84 39
Net operating loss carry forward 8 15 12
Duke Energy Income from Continuing Operations Before Income Taxes [Abstract]      
Income from continuing operations before income taxes $ 508 $ 463 $ 362
v3.25.0.1
Income Taxes (Effective Tax Rates) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 1,090 $ 1,001 $ 856
State income tax, net of federal income tax effect 88 43 (17)
Amortization of EDIT (436) (388) (481)
AFUDC equity income (48) (41) (41)
AFUDC equity depreciation 38 37 36
Production tax credits (46)    
Other tax credits (43) (63) (43)
Valuation allowance   (114)  
Other items, net (53) (37) (10)
Income tax expense from continuing operations $ 590 $ 438 $ 300
Effective tax rate (as a percent) 11.40% 9.20% 7.40%
Domestic Tax Jurisdiction      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Favorable adjustment amounts   $ 114  
State      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Favorable adjustment amounts   6  
Duke Energy Carolinas      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 443 338 $ 362
State income tax, net of federal income tax effect 40 12 (23)
Amortization of EDIT (225) (197) (195)
AFUDC equity income (24) (19) (20)
AFUDC equity depreciation 19 18 18
Other tax credits (23) (11) (12)
Other items, net (4)   (4)
Income tax expense from continuing operations $ 226 $ 141 $ 126
Effective tax rate (as a percent) 10.70% 8.80% 7.30%
Progress Energy      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 545 $ 490 $ 457
State income tax, net of federal income tax effect 73 60 44
Amortization of EDIT (121) (114) (133)
AFUDC equity income (16) (14) (14)
AFUDC equity depreciation 14 13 12
Production tax credits (46)    
Other tax credits (16) (46) (16)
Other items, net (7) (12) (2)
Income tax expense from continuing operations $ 426 $ 377 $ 348
Effective tax rate (as a percent) 16.40% 16.20% 16.00%
Duke Energy Progress      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 284 $ 241 $ 245
State income tax, net of federal income tax effect 27 18 6
Amortization of EDIT (98) (91) (74)
AFUDC equity income (13) (11) (11)
AFUDC equity depreciation 7 6 6
Other tax credits (12) (7) (9)
Other items, net (6) (7) (5)
Income tax expense from continuing operations $ 189 $ 149 $ 158
Effective tax rate (as a percent) 14.00% 13.00% 13.60%
Duke Energy Florida      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 279 $ 268 $ 238
State income tax, net of federal income tax effect 58 56 48
Amortization of EDIT (23) (23) (59)
AFUDC equity income (3) (3) (3)
AFUDC equity depreciation 7 7 6
Production tax credits (46)    
Other tax credits (4) (39) (7)
Other items, net   (5) 2
Income tax expense from continuing operations $ 268 $ 261 $ 225
Effective tax rate (as a percent) 20.20% 20.40% 19.80%
Duke Energy Ohio      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 85 $ 83 $ 59
State income tax, net of federal income tax effect 3 (2) 3
Amortization of EDIT (23) (22) (79)
AFUDC equity income (1) (2) (1)
AFUDC equity depreciation 2 2 1
Other tax credits (1) (2) (2)
Other items, net (1) 6 (2)
Income tax expense from continuing operations $ 64 $ 63 $ (21)
Effective tax rate (as a percent) 15.80% 15.90% (7.50%)
Duke Energy Indiana      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 108 $ 128 $ 24
State income tax, net of federal income tax effect 16 18 2
Amortization of EDIT (49) (33) (48)
AFUDC equity income (3) (2) (2)
AFUDC equity depreciation 4 4 4
Other tax credits (2) (2) (3)
Other items, net (3) (3) (1)
Income tax expense from continuing operations $ 71 $ 110 $ (24)
Effective tax rate (as a percent) 13.90% 18.10% (21.20%)
Piedmont      
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]      
Income tax expense, computed at the statutory rate of 21% $ 107 $ 97 $ 76
State income tax, net of federal income tax effect 12 12 (4)
Amortization of EDIT (18) (20) (23)
AFUDC equity income (4) (4) (2)
Other tax credits (2) (1) (8)
Income tax expense from continuing operations $ 95 $ 84 $ 39
Effective tax rate (as a percent) 18.70% 18.10% 10.80%
v3.25.0.1
Income Taxes (Deferred Income Taxes) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities $ 284 $ 327  
Lease obligations 430 418  
Pension, post-retirement and other employee benefits 89 65  
Progress Energy merger purchase accounting adjustments 227 260  
Tax credits and NOL carryforwards 3,845 4,489  
Other 35 102  
Valuation allowance (517) (544)  
Total deferred income tax assets 4,393 5,117  
Deferred Tax Liabilities, Gross [Abstract]      
Investments and other assets (2,114) (1,812)  
Accelerated depreciation rates (11,942) (11,969)  
Regulatory assets and deferred debits, net (1,761) (1,892)  
Total deferred income tax liabilities (15,817) (15,673)  
Net deferred income tax liabilities (11,424) (10,556)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 3,845 4,489  
Valuation allowance 517 544  
Net operating loss carry forward 523 214 $ 550
General Business Credits      
Deferred Tax Assets, Gross [Abstract]      
Tax credits and NOL carryforwards 2,186    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 2,186    
Foreign Tax Credit      
Deferred Tax Assets, Gross [Abstract]      
Valuation allowance (404)    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Valuation allowance 404    
Foreign Tax Credit | Federal      
Deferred Tax Assets, Gross [Abstract]      
Tax credits and NOL carryforwards 615    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 615    
State Carryforward And Credits | State      
Deferred Tax Assets, Gross [Abstract]      
Tax credits and NOL carryforwards 316    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 316    
Corporate AMT Credit Cards      
Deferred Tax Assets, Gross [Abstract]      
Tax credits and NOL carryforwards 717    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 717    
NOL Carryforwards | State      
Deferred Tax Assets, Gross [Abstract]      
Valuation allowance (102)    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Valuation allowance 102    
NOL Carryforwards | Foreign      
Deferred Tax Assets, Gross [Abstract]      
Tax credits and NOL carryforwards 11    
Valuation allowance (11)    
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 11    
Valuation allowance 11    
Duke Energy Carolinas      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 217 194  
Lease obligations 88 86  
Pension, post-retirement and other employee benefits (33) (41)  
Tax credits and NOL carryforwards 522 445  
Other 11 29  
Total deferred income tax assets 805 713  
Deferred Tax Liabilities, Gross [Abstract]      
Investments and other assets (1,350) (1,213)  
Accelerated depreciation rates (3,203) (3,411)  
Regulatory assets and deferred debits, net (304) (468)  
Total deferred income tax liabilities (4,857) (5,092)  
Net deferred income tax liabilities (4,052) (4,379)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 522 445  
Net operating loss carry forward 47 2 97
Progress Energy      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 84 77  
Lease obligations 265 256  
Pension, post-retirement and other employee benefits (23) (22)  
Tax credits and NOL carryforwards 783 686  
Other 5 22  
Total deferred income tax assets 1,114 1,019  
Deferred Tax Liabilities, Gross [Abstract]      
Investments and other assets (724) (596)  
Accelerated depreciation rates (4,608) (4,557)  
Regulatory assets and deferred debits, net (1,045) (1,063)  
Total deferred income tax liabilities (6,377) (6,216)  
Net deferred income tax liabilities (5,263) (5,197)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 783 686  
Net operating loss carry forward 85 116 128
Duke Energy Progress      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 43 21  
Lease obligations 179 179  
Pension, post-retirement and other employee benefits (1) (1)  
Tax credits and NOL carryforwards 312 230  
Other 3 12  
Total deferred income tax assets 536 441  
Deferred Tax Liabilities, Gross [Abstract]      
Investments and other assets (671) (520)  
Accelerated depreciation rates (1,624) (1,823)  
Regulatory assets and deferred debits, net (585) (658)  
Total deferred income tax liabilities (2,880) (3,001)  
Net deferred income tax liabilities (2,344) (2,560)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 312 230  
Net operating loss carry forward 66 59 9
Duke Energy Florida      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 41 56  
Lease obligations 86 77  
Pension, post-retirement and other employee benefits (26) (25)  
Tax credits and NOL carryforwards 449 425  
Other 2 8  
Total deferred income tax assets 552 541  
Deferred Tax Liabilities, Gross [Abstract]      
Investments and other assets (69) (91)  
Accelerated depreciation rates (3,047) (2,778)  
Regulatory assets and deferred debits, net (460) (405)  
Total deferred income tax liabilities (3,576) (3,274)  
Net deferred income tax liabilities (3,024) (2,733)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 449 425  
Net operating loss carry forward 30 5 111
Duke Energy Ohio      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 17 13  
Lease obligations 2 4  
Pension, post-retirement and other employee benefits 6 5  
Tax credits and NOL carryforwards 70 44  
Other 4 5  
Total deferred income tax assets 99 71  
Deferred Tax Liabilities, Gross [Abstract]      
Accelerated depreciation rates (1,361) (1,314)  
Regulatory assets and deferred debits, net (52) (29)  
Total deferred income tax liabilities (1,413) (1,343)  
Net deferred income tax liabilities (1,314) (1,272)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 70 44  
Net operating loss carry forward 26 22 7
Duke Energy Indiana      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 15 18  
Lease obligations 12 15  
Pension, post-retirement and other employee benefits 1 2  
Tax credits and NOL carryforwards 145 154  
Regulatory liabilities and deferred credits 10 47  
Investments and other assets   1  
Other   5  
Total deferred income tax assets 183 242  
Deferred Tax Liabilities, Gross [Abstract]      
Accelerated depreciation rates (1,677) (1,678)  
Total deferred income tax liabilities (1,677) (1,678)  
Net deferred income tax liabilities (1,494) (1,436)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 145 154  
Net operating loss carry forward 8 54 13
Piedmont      
Deferred Tax Assets, Gross [Abstract]      
Deferred credits and other liabilities 40 42  
Lease obligations 2 3  
Pension, post-retirement and other employee benefits (2) (5)  
Tax credits and NOL carryforwards 57 50  
Other 8 9  
Total deferred income tax assets 105 99  
Deferred Tax Liabilities, Gross [Abstract]      
Investments and other assets (48) (37)  
Accelerated depreciation rates (1,019) (944)  
Regulatory assets and deferred debits, net (56) (51)  
Total deferred income tax liabilities (1,123) (1,032)  
Net deferred income tax liabilities (1,018) (933)  
Components and Expiration Dates of Tax Credits and NOL Carryforwards [Abstract]      
Tax credits and NOL carryforwards 57 50  
Net operating loss carry forward $ 8 $ 15 $ 12
v3.25.0.1
Income Taxes (Other Disclosures) (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 $ 62 $ 65 $ 51
Gross decreases – tax positions in prior periods   (15)  
Gross increases – current period tax positions 12 12 14
Total changes   (3) 14
Unrecognized tax benefits – December 31 74 62 65
Amount that if recognized, would affect the effective tax rate or regulatory liability 68    
Valuation allowance 517 544  
Foreign Tax Credit      
Unrecognized Tax Benefits [Roll Forward]      
Valuation allowance 404    
Duke Energy Carolinas      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 21 17 13
Gross increases – current period tax positions 4 4 4
Total changes   4 4
Unrecognized tax benefits – December 31 25 21 17
Amount that if recognized, would affect the effective tax rate or regulatory liability 24    
Progress Energy      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 24 19 15
Gross increases – current period tax positions 5 5 4
Total changes   5 4
Unrecognized tax benefits – December 31 29 24 19
Amount that if recognized, would affect the effective tax rate or regulatory liability 27    
Duke Energy Progress      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 18 13 10
Gross increases – current period tax positions 4 5 3
Total changes   5 3
Unrecognized tax benefits – December 31 22 18 13
Amount that if recognized, would affect the effective tax rate or regulatory liability 20    
Duke Energy Florida      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 6 5 4
Gross increases – current period tax positions 1 1 1
Total changes   1 1
Unrecognized tax benefits – December 31 7 6 5
Amount that if recognized, would affect the effective tax rate or regulatory liability 7    
Duke Energy Ohio      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 2 1 1
Gross increases – current period tax positions   1  
Total changes   1  
Unrecognized tax benefits – December 31 2 2 1
Amount that if recognized, would affect the effective tax rate or regulatory liability 2    
Duke Energy Indiana      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 3 2 2
Gross increases – current period tax positions   1  
Total changes   1  
Unrecognized tax benefits – December 31 3 3 2
Amount that if recognized, would affect the effective tax rate or regulatory liability 3    
Piedmont      
Unrecognized Tax Benefits [Roll Forward]      
Unrecognized tax benefits – January 1 11 9 4
Gross increases – current period tax positions 2 2 5
Total changes   2 5
Unrecognized tax benefits – December 31 13 $ 11 $ 9
Amount that if recognized, would affect the effective tax rate or regulatory liability $ 11    
v3.25.0.1
Other Income and Expenses, Net (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income $ 63 $ 29 $ 27
AFUDC equity 233 198 197
Post-in-service equity returns 52 39 34
Nonoperating income, other 313 332 134
Other income and expense, net 661 598 392
Duke Energy Carolinas      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 9 10 2
AFUDC equity 113 91 98
Post-in-service equity returns 31 19 14
Nonoperating income, other 94 118 107
Other income and expense, net 247 238 221
Progress Energy      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 18 14 24
AFUDC equity 74 67 68
Post-in-service equity returns 20 19 18
Nonoperating income, other 123 101 71
Other income and expense, net 235 201 181
Duke Energy Progress      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 14 9 4
AFUDC equity 61 52 52
Post-in-service equity returns 20 19 18
Nonoperating income, other 48 44 40
Other income and expense, net 143 124 114
Duke Energy Florida      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 4 7 20
AFUDC equity 13 15 16
Nonoperating income, other 69 56 38
Other income and expense, net 86 78 74
Duke Energy Ohio      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 8 25 11
AFUDC equity 7 9 7
Post-in-service equity returns 1 1 1
Nonoperating income, other 3 6  
Other income and expense, net 19 41 19
Duke Energy Indiana      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 5 25 15
AFUDC equity 19 10 13
Post-in-service equity returns 1   1
Nonoperating income, other 37 41 7
Other income and expense, net 62 76 36
Piedmont      
Component Of Other Income Expense Nonoperating [Line Items]      
Interest income 19 19 19
AFUDC equity 21 21 11
Nonoperating income, other 14 17 16
Other income and expense, net $ 54 $ 57 $ 46