DUKE ENERGY CORP, 10-Q filed on 8/8/2023
Quarterly Report
v3.23.2
Cover Page - shares
 6 Months Ended
Jun. 30, 2023
Jul. 31, 2023
Entity Information [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2023  
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 526 South Church Street  
Entity Address, City or Town Charlotte  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 28202-1803  
City Area Code 704  
Local Phone Number 382-3853  
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  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   770,707,545
Entity Central Index Key 0001326160  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2023  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Duke Energy Carolinas    
Entity 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 526 South Church Street  
Entity Address, City or Town Charlotte  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 28202-1803  
City Area Code 704  
Local Phone Number 382-3853  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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  
Current Fiscal Year End Date --12-31  
Progress Energy    
Entity 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 410 South Wilmington Street  
Entity Address, City or Town Raleigh  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 27601-1748  
City Area Code 704  
Local Phone Number 382-3853  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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 0001094093  
Current Fiscal Year End Date --12-31  
Duke Energy Progress    
Entity 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 410 South Wilmington Street  
Entity Address, City or Town Raleigh  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 27601-1748  
City Area Code 704  
Local Phone Number 382-3853  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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  
Current Fiscal Year End Date --12-31  
Duke Energy Florida    
Entity 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 704  
Local Phone Number 382-3853  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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  
Current Fiscal Year End Date --12-31  
Duke Energy Ohio    
Entity 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 704  
Local Phone Number 382-3853  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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  
Current Fiscal Year End Date --12-31  
Duke Energy Indiana    
Entity 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 704  
Local Phone Number 382-3853  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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  
Current Fiscal Year End Date --12-31  
Piedmont    
Entity 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 4720 Piedmont Row Drive  
Entity Address, City or Town Charlotte  
Entity Address, State or Province NC  
Entity Address, Postal Zip Code 28210  
City Area Code 704  
Local Phone Number 364-3120  
Entity Current Reporting Status Yes  
Entity Interactive Data Current 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  
Current Fiscal Year End Date --12-31  
Common Stock    
Entity Information [Line Items]    
Title of 12(b) Security Common Stock, $0.001 par value  
Trading Symbol DUK  
Security Exchange Name NYSE  
Junior Subordinated Debentures 5.625% Coupon Due September 2078    
Entity Information [Line Items]    
Title of 12(b) Security 5.625% Junior Subordinated Debentures  
Trading Symbol DUKB  
Security Exchange Name NYSE  
Depositary Share    
Entity Information [Line Items]    
Title of 12(b) Security Depositary Shares  
Trading Symbol DUK PR A  
Security Exchange Name NYSE  
Senior Notes 3.10% Due 2028    
Entity Information [Line Items]    
Title of 12(b) Security 3.10% Senior Notes  
Trading Symbol DUK 28A  
Security Exchange Name NYSE  
Senior Notes 3.85% Due 2034    
Entity Information [Line Items]    
Title of 12(b) Security 3.85% Senior Notes  
Trading Symbol DUK 34  
Security Exchange Name NYSE  
v3.23.2
Consolidated Statements of Operations - USD ($)
shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Operating Revenues        
Regulated electric $ 6,176 $ 6,075 $ 12,500 $ 12,008
Regulated natural gas 331 425 1,213 1,427
Nonregulated electric and other 71 64 141 140
Total operating revenues 6,578 6,564 13,854 13,575
Operating Expenses        
Operation, maintenance and other 1,375 1,367 2,685 2,915
Depreciation and amortization 1,333 1,237 2,560 2,494
Property and other taxes 353 368 742 750
Impairment of assets and other charges     1,442 206
Impairment of assets and other charges   (9) 8 206
Total operating expenses 5,179 5,124 10,788 10,824
Gains on Sales of Other Assets and Other, net 31 8 38 11
Operating Income 1,430 1,448 3,104 2,762
Other Income and Expenses        
Equity in earnings of unconsolidated affiliates 20 38 40 64
Other income and expenses, net 147 114 298 203
Total other income and expenses 167 152 338 267
Interest Expense 727 588 1,447 1,157
Income From Continuing Operations Before Income Taxes 870 1,012 1,995 1,872
Income Tax Expense From Continuing Operations 119 114 274 139
Income From Continuing Operations 751 898 1,721 1,733
Loss from discontinued operations, net of tax (955) (18) (1,164) (33)
Net (Loss) Income (204) 880 557 1,700
Add: Net (Income) Loss Attributable to Noncontrolling Interests (16) 27 27 64
Net Income (loss) Attributable to Parent (220) 907 584 1,764
Less: Preferred Dividends 14 14 53 53
Net Income Available to Common Stockholders (234) 893 531 1,711
Other Comprehensive Income, net of tax        
Pension and OPEB adjustments [1] 1 2   4
Net unrealized gain on cash flow hedges [1] 26 149 6 262
Unrealized (losses) gains on available-for-sale securities [1] (2) (8) 4 (21)
Other Comprehensive Income (Loss), net of tax [1] 55 135 29 242
Comprehensive (Loss) Income (149) 1,015 586 1,942
Add: Comprehensive Loss Attributable to Noncontrolling Interests 16 (23) (27) (52)
Comprehensive Income Attributable to Duke Energy Corporation $ (165) $ 1,038 $ 613 $ 1,994
Income from continuing operations available to Duke Energy Corporation common stockholders        
Basic (in usd per share) $ 0.91 $ 1.11 $ 2.10 $ 2.17
Diluted (in usd per share) 0.91 1.11 2.10 2.17
(Loss) Income from discontinued operations attributable to Duke Energy Corporation common stockholders        
Basic (in usd per share) (1.23) 0.03 (1.41) 0.05
Diluted (in usd per share) (1.23) 0.03 (1.41) 0.05
Net (loss) income available to Duke Energy Corporation common stockholders        
Basic (in usd per share) (0.32) 1.14 0.69 2.22
Diluted (in usd per share) $ (0.32) $ 1.14 $ 0.69 $ 2.22
Weighted average shares outstanding        
Basic (in shares) 771 770 770 770
Diluted (in shares) 771 770 770 770
Fuel used in electric generation and purchased power        
Operating Expenses        
Cost of sales $ 2,039 $ 1,972 $ 4,416 $ 3,789
Cost of natural gas        
Operating Expenses        
Cost of sales 79 189 377 670
Duke Energy Carolinas        
Operating Revenues        
Total operating revenues 1,828 1,781 3,762 3,669
Operating Expenses        
Cost of sales 510 431 1,133 879
Operation, maintenance and other 421 462 861 974
Depreciation and amortization 413 384 779 763
Property and other taxes 91 77 186 170
Impairment of assets and other charges 4 (12) 6 (9)
Total operating expenses 1,439 1,342 2,965 2,777
Gains on Sales of Other Assets and Other, net 26   26  
Operating Income 415 439 823 892
Other Income and Expenses        
Total other income and expenses 59 58 118 113
Interest Expense 172 143 332 284
Income From Continuing Operations Before Income Taxes 302 354 609 721
Income Tax Expense From Continuing Operations 32 26 67 53
Net Income (loss) Attributable to Parent 270 328 542 668
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 270 328 542 668
Progress Energy        
Operating Revenues        
Total operating revenues 3,212 3,214 6,260 6,206
Operating Expenses        
Cost of sales 1,176 1,258 2,367 2,322
Operation, maintenance and other 684 603 1,252 1,248
Depreciation and amortization 542 509 1,046 1,045
Property and other taxes 173 151 341 303
Impairment of assets and other charges   4 5 4
Total operating expenses 2,575 2,525 5,011 4,922
Gains on Sales of Other Assets and Other, net 6 1 12 3
Operating Income 643 690 1,261 1,287
Other Income and Expenses        
Total other income and expenses 38 70 97 105
Interest Expense 219 208 465 419
Income From Continuing Operations Before Income Taxes 462 552 893 973
Income Tax Expense From Continuing Operations 77 93 149 160
Net (Loss) Income 385 459 744 813
Other Comprehensive Income, net of tax        
Net unrealized gain on cash flow hedges       1
Unrealized (losses) gains on available-for-sale securities   (1) 2 (3)
Other Comprehensive Income (Loss), net of tax   (1) 2 (2)
Comprehensive (Loss) Income 385 458 746 811
Duke Energy Progress        
Operating Revenues        
Total operating revenues 1,425 1,581 2,958 3,213
Operating Expenses        
Cost of sales 489 593 1,034 1,167
Operation, maintenance and other 356 360 706 751
Depreciation and amortization 296 271 611 577
Property and other taxes 47 41 95 90
Impairment of assets and other charges 3 4 7 4
Total operating expenses 1,191 1,269 2,453 2,589
Gains on Sales of Other Assets and Other, net 1   1 1
Operating Income 235 312 506 625
Other Income and Expenses        
Total other income and expenses 32 32 61 54
Interest Expense 104 90 206 175
Income From Continuing Operations Before Income Taxes 163 254 361 504
Income Tax Expense From Continuing Operations 23 35 52 70
Net Income (loss) Attributable to Parent 140 219 309 434
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 140 219 309 434
Duke Energy Florida        
Operating Revenues        
Total operating revenues 1,782 1,628 3,292 2,983
Operating Expenses        
Cost of sales 687 665 1,333 1,155
Operation, maintenance and other 324 241 537 490
Depreciation and amortization 245 237 435 468
Property and other taxes 126 109 246 212
Impairment of assets and other charges (2)   (1)  
Total operating expenses 1,380 1,252 2,550 2,325
Gains on Sales of Other Assets and Other, net   1 1 2
Operating Income 402 377 743 660
Other Income and Expenses        
Total other income and expenses 7 40 37 55
Interest Expense 87 90 202 174
Income From Continuing Operations Before Income Taxes 322 327 578 541
Income Tax Expense From Continuing Operations 64 66 115 109
Net Income (loss) Attributable to Parent 258 261 463 432
Other Comprehensive Income, net of tax        
Unrealized (losses) gains on available-for-sale securities   (1) 2 (2)
Other Comprehensive Income (Loss), net of tax   (1) 2 (2)
Comprehensive Income Attributable to Duke Energy Corporation 258 260 465 430
Duke Energy Ohio        
Operating Revenues        
Regulated electric 465 401 939 813
Regulated natural gas 124 144 359 370
Total operating revenues 589 545 1,298 1,183
Operating Expenses        
Operation, maintenance and other 121 109 244 287
Depreciation and amortization 86 83 176 163
Property and other taxes 84 92 164 193
Total operating expenses 475 457 1,036 1,050
Gains on Sales of Other Assets and Other, net   1   1
Operating Income 114 89 262 134
Other Income and Expenses        
Total other income and expenses 13 6 21 12
Interest Expense 43 30 79 60
Income From Continuing Operations Before Income Taxes 84 65 204 86
Income Tax Expense From Continuing Operations 13 9 33 (47)
Net Income (loss) Attributable to Parent 71 56 171 133
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 71 56 171 133
Duke Energy Ohio | Fuel used in electric generation and purchased power        
Operating Expenses        
Cost of sales 164 127 340 254
Duke Energy Ohio | Cost of natural gas        
Operating Expenses        
Cost of sales 20 46 112 153
Duke Energy Indiana        
Operating Revenues        
Total operating revenues 780 918 1,755 1,740
Operating Expenses        
Cost of sales 248 359 697 678
Operation, maintenance and other 180 182 364 374
Depreciation and amortization 169 155 327 311
Property and other taxes 7 22 25 47
Impairment of assets and other charges       212
Impairment of assets and other charges       211
Total operating expenses 604 718 1,413 1,621
Operating Income 176 200 342 119
Other Income and Expenses        
Total other income and expenses 14 8 28 18
Interest Expense 52 45 104 90
Income From Continuing Operations Before Income Taxes 138 163 266 47
Income Tax Expense From Continuing Operations 24 14 46 (23)
Net Income (loss) Attributable to Parent 114 149 220 70
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation 114 149 220 70
Piedmont        
Operating Revenues        
Total operating revenues 236 310 911 1,115
Operating Expenses        
Cost of sales 59 143 265 517
Operation, maintenance and other 82 88 171 183
Depreciation and amortization 59 56 116 110
Property and other taxes 14 15 30 31
Impairment of assets and other charges 5   4  
Impairment of assets and other charges     (4)  
Total operating expenses 209 302 578 841
Gains on Sales of Other Assets and Other, net 0 4   4
Operating Income 27 12 333 278
Other Income and Expenses        
Total other income and expenses 16 15 32 28
Interest Expense 39 34 79 66
Income From Continuing Operations Before Income Taxes 4 (7) 286 240
Income Tax Expense From Continuing Operations 1 (6) 51 27
Net (Loss) Income 3 (1) 235 213
Net Income (loss) Attributable to Parent 3 (1) 235 213
Other Comprehensive Income, net of tax        
Comprehensive Income Attributable to Duke Energy Corporation $ 3 $ (1) $ 235 $ 213
[1] Net of income tax expense of approximately $16 million and $40 million for the three months ended June 30, 2023, and 2022, respectively and approximately $9 million and $72 million for the six months ended June 30, 2023, and 2022, respectively.
v3.23.2
Consolidated Statements of Comprehensive Income - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Net income $ (204) $ 880 $ 557 $ 1,700
Other Comprehensive Income, net of tax        
Pension and OPEB adjustments [1] 1 2   4
Net unrealized gains (losses) on cash flow hedges [1] 26 149 6 262
Reclassification into earnings from cash flow hedges [1] 4 4 4 9
Net unrealized gains (losses) on fair value hedges [1] 26 (12) 15 (12)
Unrealized (losses) gains on available-for-sale securities [1] (2) (8) 4 (21)
Other Comprehensive Income (Loss), net of tax [1] 55 135 29 242
Comprehensive (Loss) Income (149) 1,015 586 1,942
Add: Comprehensive (Income) Loss Attributable to Noncontrolling Interests (16) 23 27 52
Comprehensive Income Attributable to Duke Energy Corporation (165) 1,038 613 1,994
Less: Preferred Dividends 14 14 53 53
Comprehensive (Loss) Income Available to Duke Energy Corporation Common Stockholders $ (179) $ 1,024 $ 560 $ 1,941
[1] Net of income tax expense of approximately $16 million and $40 million for the three months ended June 30, 2023, and 2022, respectively and approximately $9 million and $72 million for the six months ended June 30, 2023, and 2022, respectively.
v3.23.2
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Statement of Comprehensive Income [Abstract]        
Other comprehensive income (loss), tax expense (benefit) $ 16 $ 40 $ 9 $ 72
v3.23.2
Consolidated Balance Sheets - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current Assets    
Cash and cash equivalents   $ 409
Receivables (net of allowance for doubtful accounts) $ 2,812 3,106
Receivables of VIEs (net of allowance for doubtful accounts) 1,016 1,309
Inventory 4,100 3,584
Assets held for sale 390 356
Regulatory assets (includes amounts related to VIEs) 3,760 3,485
Other (including amounts related to VIEs) 633 973
Total current assets 13,088 13,222
Property, Plant and Equipment    
Cost 168,506 163,839
Accumulated depreciation and amortization (54,030) (52,100)
Facilities to be retired, net 4 9
Net property, plant and equipment 114,480 111,748
Other Noncurrent Assets    
Goodwill 19,303 19,303
Other Noncurrent Assets: Regulatory assets 14,147 14,645
Nuclear decommissioning trust funds 9,565 8,637
Operating lease right-of-use assets, net 1,009 1,042
Investments in equity method unconsolidated affiliates 479 455
Assets held for sale 4,561 5,634
Other 3,444 3,400
Total other noncurrent assets 52,508 53,116
Total Assets 180,076 178,086
Current Liabilities    
Accounts payable 3,225 4,754
Notes payable and commercial paper 3,455 3,952
Taxes accrued 708 722
Interest accrued 714 626
Current maturities of long-term debt (includes amounts related to VIEs) 4,609 3,878
Asset retirement obligations 692 773
Regulatory liabilities 1,303 1,466
Liabilities associated with assets held for sale 575 535
Other 2,094 2,167
Total current liabilities 17,375 18,873
Long-Term Debt (includes amounts related to VIEs) 69,914 65,873
Other Noncurrent Liabilities    
Deferred income taxes 10,210 9,964
Total noncurrent ARO 11,991 11,955
Regulatory liabilities 13,944 13,582
Operating lease liabilities 841 876
Accrued pension and other post-retirement benefit costs 808 832
Investment tax credits 849 849
Liabilities associated with assets held for sale 1,720 1,927
Other 1,353 1,502
Total other noncurrent liabilities 41,716 41,487
Commitments and Contingencies
Equity    
Common stock 1 1
Additional paid-in capital 44,866 44,862
Retained earnings 1,615 2,637
Accumulated other comprehensive (loss) income (111) (140)
Total Parent stockholders' equity 48,333 49,322
Noncontrolling interests 2,738 2,531
Total equity 51,071 51,853
Total Liabilities and Equity $ 180,076 $ 178,086
Common stock, shares authorized (in shares) 2,000,000,000 2,000,000,000
Common stock, shares outstanding (in shares) 771,000,000 770,000,000
VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) $ 107 $ 106
Other (including amounts related to VIEs) 73 116
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,667 1,715
Other 45 52
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 426 350
Long-Term Debt (includes amounts related to VIEs) 3,051 3,108
Preferred stock, Series A    
Equity    
Preferred stock 973 973
Preferred stock, Series B    
Equity    
Preferred stock 989 989
Duke Energy Carolinas    
Current Assets    
Cash and cash equivalents 20 44
Receivables (net of allowance for doubtful accounts) 324 338
Receivables of VIEs (net of allowance for doubtful accounts) 855 928
Inventory 1,403 1,164
Regulatory assets (includes amounts related to VIEs) 1,483 1,095
Other (including amounts related to VIEs) 61 216
Total current assets 4,302 4,175
Property, Plant and Equipment    
Cost 56,116 54,650
Accumulated depreciation and amortization (19,328) (18,669)
Net property, plant and equipment 36,788 35,981
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 4,056 4,293
Nuclear decommissioning trust funds 5,332 4,783
Operating lease right-of-use assets, net 71 78
Other 1,005 1,036
Total other noncurrent assets 10,464 10,190
Total Assets 51,554 50,346
Current Liabilities    
Accounts payable 821 1,472
Taxes accrued 276 228
Interest accrued 169 120
Current maturities of long-term debt (includes amounts related to VIEs) 18 1,018
Asset retirement obligations 237 261
Regulatory liabilities 464 530
Other 598 580
Total current liabilities 3,300 5,651
Long-Term Debt (includes amounts related to VIEs) 15,648 12,948
Other Noncurrent Liabilities    
Deferred income taxes 4,302 4,153
Total noncurrent ARO 5,166 5,121
Regulatory liabilities 5,887 5,783
Operating lease liabilities 72 83
Accrued pension and other post-retirement benefit costs 36 38
Investment tax credits 298 300
Other 561 527
Total other noncurrent liabilities 16,322 16,005
Commitments and Contingencies
Equity    
Member's equity 15,990 15,448
Accumulated other comprehensive (loss) income (6) (6)
Total member's equity 15,984 15,442
Total Liabilities and Equity 51,554 50,346
Duke Energy Carolinas | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) 156 390
Current Liabilities    
Accounts payable 139 209
Notes payable to affiliated companies 578 1,233
Long-Term Debt (includes amounts related to VIEs) 300 300
Duke Energy Carolinas | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 12 12
Other (including amounts related to VIEs) 8  
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 202 208
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 10 10
Long-Term Debt (includes amounts related to VIEs) 701 689
Progress Energy    
Current Assets    
Cash and cash equivalents 77 108
Receivables (net of allowance for doubtful accounts) 289 318
Receivables of VIEs (net of allowance for doubtful accounts) 1,312 1,289
Inventory 1,817 1,579
Regulatory assets (includes amounts related to VIEs) 1,927 1,833
Other (including amounts related to VIEs) 146 342
Total current assets 5,616 5,491
Property, Plant and Equipment    
Cost 66,881 64,822
Accumulated depreciation and amortization (21,399) (20,584)
Net property, plant and equipment 45,482 44,238
Other Noncurrent Assets    
Goodwill 3,655 3,655
Other Noncurrent Assets: Regulatory assets 6,819 7,146
Nuclear decommissioning trust funds 4,233 3,855
Operating lease right-of-use assets, net 581 628
Other 1,105 1,066
Total other noncurrent assets 16,393 16,350
Total Assets 67,491 66,079
Current Liabilities    
Accounts payable 1,078 1,481
Taxes accrued 288 135
Interest accrued 235 206
Current maturities of long-term debt (includes amounts related to VIEs) 1,571 697
Asset retirement obligations 256 289
Regulatory liabilities 455 576
Other 813 782
Total current liabilities 5,950 5,721
Long-Term Debt (includes amounts related to VIEs) 21,718 21,592
Other Noncurrent Liabilities    
Deferred income taxes 5,250 5,147
Total noncurrent ARO 5,890 5,892
Regulatory liabilities 5,023 4,753
Operating lease liabilities 503 546
Accrued pension and other post-retirement benefit costs 281 292
Investment tax credits 361 358
Other 215 222
Total other noncurrent liabilities 17,523 17,210
Commitments and Contingencies
Equity    
Additional paid-in capital 11,830 11,832
Retained earnings 10,329 9,585
Accumulated other comprehensive (loss) income (9) (11)
Total equity 22,150 21,406
Total Liabilities and Equity $ 67,491 $ 66,079
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
Progress Energy | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) $ 23 $ 22
Notes receivable from affiliated companies 25  
Current Liabilities    
Accounts payable 438 712
Notes payable to affiliated companies 816 843
Long-Term Debt (includes amounts related to VIEs) 150 150
Progress Energy | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 95 95
Other (including amounts related to VIEs) 61 88
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 1,465 1,507
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 416 340
Long-Term Debt (includes amounts related to VIEs) 1,956 2,003
Duke Energy Progress    
Current Assets    
Cash and cash equivalents 21 49
Receivables (net of allowance for doubtful accounts) 158 167
Receivables of VIEs (net of allowance for doubtful accounts) 694 793
Inventory 1,164 1,006
Regulatory assets (includes amounts related to VIEs) 888 690
Other (including amounts related to VIEs) 61 174
Total current assets 3,053 2,904
Property, Plant and Equipment    
Cost 39,779 38,875
Accumulated depreciation and amortization (14,598) (14,201)
Net property, plant and equipment 25,181 24,674
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 4,658 4,724
Nuclear decommissioning trust funds 3,828 3,430
Operating lease right-of-use assets, net 343 370
Other 651 650
Total other noncurrent assets 9,480 9,174
Total Assets 37,714 36,752
Current Liabilities    
Accounts payable 506 601
Taxes accrued 121 77
Interest accrued 120 101
Current maturities of long-term debt (includes amounts related to VIEs) 370 369
Asset retirement obligations 256 288
Regulatory liabilities 267 332
Other 440 384
Total current liabilities 2,330 2,898
Long-Term Debt (includes amounts related to VIEs) 11,521 10,568
Other Noncurrent Liabilities    
Deferred income taxes 2,571 2,477
Total noncurrent ARO 5,555 5,535
Regulatory liabilities 4,284 4,120
Operating lease liabilities 313 335
Accrued pension and other post-retirement benefit costs 155 160
Investment tax credits 128 124
Other 89 76
Total other noncurrent liabilities 13,095 12,827
Commitments and Contingencies
Equity    
Total member's equity 10,618 10,309
Total Liabilities and Equity 37,714 36,752
Duke Energy Progress | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) 30 25
Notes receivable from affiliated companies 37  
Current Liabilities    
Accounts payable 250 508
Notes payable to affiliated companies   238
Long-Term Debt (includes amounts related to VIEs) 150 150
Duke Energy Progress | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 39 39
Other (including amounts related to VIEs) 25 42
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 662 681
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 34 34
Long-Term Debt (includes amounts related to VIEs) 1,096 1,114
Duke Energy Florida    
Current Assets    
Cash and cash equivalents 37 45
Receivables (net of allowance for doubtful accounts) 129 148
Receivables of VIEs (net of allowance for doubtful accounts) 618 496
Inventory 653 573
Regulatory assets (includes amounts related to VIEs) 1,039 1,143
Other (including amounts related to VIEs) 100 108
Total current assets 2,581 2,515
Property, Plant and Equipment    
Cost 27,094 25,940
Accumulated depreciation and amortization (6,794) (6,377)
Net property, plant and equipment 20,300 19,563
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 2,161 2,422
Nuclear decommissioning trust funds 405 424
Operating lease right-of-use assets, net 238 258
Other 409 372
Total other noncurrent assets 3,213 3,476
Total Assets 26,094 25,554
Current Liabilities    
Accounts payable 572 880
Taxes accrued 261 53
Interest accrued 89 80
Current maturities of long-term debt (includes amounts related to VIEs) 1,201 328
Asset retirement obligations 1 1
Regulatory liabilities 188 244
Other 335 363
Total current liabilities 3,588 2,731
Long-Term Debt (includes amounts related to VIEs) 8,554 9,381
Other Noncurrent Liabilities    
Deferred income taxes 2,785 2,789
Total noncurrent ARO 335 357
Regulatory liabilities 739 633
Operating lease liabilities 190 211
Accrued pension and other post-retirement benefit costs 105 111
Investment tax credits 233 234
Other 77 84
Total other noncurrent liabilities 4,464 4,419
Commitments and Contingencies
Equity    
Member's equity 9,494 9,031
Accumulated other comprehensive (loss) income (6) (8)
Total member's equity 9,488 9,023
Total Liabilities and Equity 26,094 25,554
Duke Energy Florida | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) 5 2
Current Liabilities    
Accounts payable 112 177
Notes payable to affiliated companies 829 605
Duke Energy Florida | VIEs    
Current Assets    
Regulatory assets (includes amounts related to VIEs) 56 55
Other (including amounts related to VIEs) 36 46
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 803 826
Current Liabilities    
Current maturities of long-term debt (includes amounts related to VIEs) 382 306
Long-Term Debt (includes amounts related to VIEs) 859 890
Duke Energy Ohio    
Current Assets    
Cash and cash equivalents 8 16
Receivables (net of allowance for doubtful accounts) 89 73
Inventory 178 144
Regulatory assets (includes amounts related to VIEs) 47 103
Other (including amounts related to VIEs) 44 86
Total current assets 706 669
Property, Plant and Equipment    
Cost 12,762 12,497
Accumulated depreciation and amortization (3,339) (3,250)
Net property, plant and equipment 9,423 9,247
Other Noncurrent Assets    
Goodwill 920 920
Other Noncurrent Assets: Regulatory assets 651 581
Operating lease right-of-use assets, net 17 18
Other 74 71
Total other noncurrent assets 1,662 1,590
Total Assets 11,791 11,506
Current Liabilities    
Accounts payable 347 380
Taxes accrued 181 317
Interest accrued 40 29
Current maturities of long-term debt (includes amounts related to VIEs) 475 475
Asset retirement obligations 12 17
Regulatory liabilities 51 99
Other 66 74
Total current liabilities 1,341 1,960
Long-Term Debt (includes amounts related to VIEs) 3,491 2,745
Other Noncurrent Liabilities    
Deferred income taxes 1,165 1,136
Total noncurrent ARO 140 137
Regulatory liabilities 487 534
Operating lease liabilities 17 17
Accrued pension and other post-retirement benefit costs 93 90
Other 95 96
Total other noncurrent liabilities 1,997 2,010
Commitments and Contingencies
Equity    
Common stock 762 762
Additional paid-in capital 3,100 3,100
Retained earnings 1,075 904
Total Parent stockholders' equity 4,937 4,766
Total equity 4,937 4,766
Total Liabilities and Equity $ 11,791 $ 11,506
Common stock, shares authorized (in shares) 120,000,000 120,000,000
Common stock, shares outstanding (in shares) 90,000,000 90,000,000
Duke Energy Ohio | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) $ 180 $ 247
Notes receivable from affiliated companies 160  
Current Liabilities    
Accounts payable 60 72
Notes payable to affiliated companies 109 497
Long-Term Debt (includes amounts related to VIEs) 25 25
Duke Energy Indiana    
Current Assets    
Cash and cash equivalents 11 31
Receivables (net of allowance for doubtful accounts) 178 112
Inventory 593 489
Regulatory assets (includes amounts related to VIEs) 97 249
Other (including amounts related to VIEs) 90 197
Total current assets 1,133 1,376
Property, Plant and Equipment    
Cost 18,514 18,121
Accumulated depreciation and amortization (6,253) (6,021)
Net property, plant and equipment 12,261 12,100
Other Noncurrent Assets    
Other Noncurrent Assets: Regulatory assets 896 875
Operating lease right-of-use assets, net 47 49
Other 278 254
Total other noncurrent assets 1,221 1,178
Total Assets 14,615 14,654
Current Liabilities    
Accounts payable 291 391
Taxes accrued 80 92
Interest accrued 56 48
Current maturities of long-term debt (includes amounts related to VIEs) 3 303
Asset retirement obligations 187 207
Regulatory liabilities 222 187
Other 179 161
Total current liabilities 1,324 2,030
Long-Term Debt (includes amounts related to VIEs) 4,350 3,854
Other Noncurrent Liabilities    
Deferred income taxes 1,323 1,299
Total noncurrent ARO 737 744
Regulatory liabilities 1,523 1,454
Operating lease liabilities 45 47
Accrued pension and other post-retirement benefit costs 124 122
Investment tax credits 186 186
Other 26 65
Total other noncurrent liabilities 3,964 3,917
Commitments and Contingencies
Equity    
Member's equity 4,826 4,702
Accumulated other comprehensive (loss) income 1 1
Total member's equity 4,827 4,703
Total Liabilities and Equity 14,615 14,654
Duke Energy Indiana | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) 164 298
Current Liabilities    
Accounts payable 97 206
Notes payable to affiliated companies 209 435
Long-Term Debt (includes amounts related to VIEs) 150 150
Piedmont    
Current Assets    
Receivables (net of allowance for doubtful accounts) 117 436
Inventory 73 172
Regulatory assets (includes amounts related to VIEs) 121 119
Other (including amounts related to VIEs) 57 4
Total current assets 381 742
Property, Plant and Equipment    
Cost 11,343 10,869
Accumulated depreciation and amortization (2,189) (2,081)
Facilities to be retired, net 4 9
Net property, plant and equipment 9,158 8,797
Other Noncurrent Assets    
Goodwill 49 49
Other Noncurrent Assets: Regulatory assets 401 392
Operating lease right-of-use assets, net 3 4
Investments in equity method unconsolidated affiliates 78 79
Other 280 272
Total other noncurrent assets 811 796
Total Assets 10,350 10,335
Current Liabilities    
Accounts payable 180 345
Taxes accrued 30 74
Interest accrued 41 40
Current maturities of long-term debt (includes amounts related to VIEs) 45 45
Regulatory liabilities 111 74
Other 66 81
Total current liabilities 621 1,224
Long-Term Debt (includes amounts related to VIEs) 3,667 3,318
Other Noncurrent Liabilities    
Deferred income taxes 924 870
Total noncurrent ARO 27 26
Regulatory liabilities 1,006 1,024
Operating lease liabilities 11 13
Accrued pension and other post-retirement benefit costs 6 7
Other 180 180
Total other noncurrent liabilities 2,154 2,120
Commitments and Contingencies
Equity    
Common stock 1,635 1,635
Retained earnings 2,272 2,037
Total Parent stockholders' equity 3,907 3,672
Noncontrolling interests 1 1
Total equity 3,908 3,673
Total Liabilities and Equity $ 10,350 $ 10,335
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
Piedmont | Affiliated Entity    
Current Assets    
Receivables (net of allowance for doubtful accounts) $ 13 $ 11
Current Liabilities    
Accounts payable 44 51
Notes payable to affiliated companies $ 104 $ 514
v3.23.2
Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Allowance for doubtful accounts - receivables $ 47 $ 40
Regulatory Assets: Current 3,760 3,485
Current Assets: Other 633 973
Other Noncurrent Assets: Regulatory assets 14,147 14,645
Other 3,444 3,400
Current maturities of long-term debt (includes amounts related to VIEs) 4,609 3,878
Long-term debt $ 69,914 $ 65,873
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) 771,000,000 770,000,000
VIEs    
Allowance for doubtful accounts - receivables of VIEs $ 152 $ 176
Regulatory Assets: Current 107 106
Current Assets: Other 73 116
Other Noncurrent Assets: Regulatory assets 1,667 1,715
Other 45 52
Current maturities of long-term debt (includes amounts related to VIEs) 426 350
Long-term debt $ 3,051 $ 3,108
Preferred stock, Series A    
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
Preferred stock, Series B    
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) 1,000,000 1,000,000
Duke Energy Carolinas    
Allowance for doubtful accounts - receivables $ 6 $ 3
Allowance for doubtful accounts - receivables of VIEs 51 65
Regulatory Assets: Current 1,483 1,095
Current Assets: Other 61 216
Other Noncurrent Assets: Regulatory assets 4,056 4,293
Other 1,005 1,036
Current maturities of long-term debt (includes amounts related to VIEs) 18 1,018
Long-term debt 15,648 12,948
Duke Energy Carolinas | VIEs    
Regulatory Assets: Current 12 12
Current Assets: Other 8  
Other Noncurrent Assets: Regulatory assets 202 208
Current maturities of long-term debt (includes amounts related to VIEs) 10 10
Long-term debt 701 689
Progress Energy    
Allowance for doubtful accounts - receivables 15 13
Regulatory Assets: Current 1,927 1,833
Current Assets: Other 146 342
Other Noncurrent Assets: Regulatory assets 6,819 7,146
Other 1,105 1,066
Current maturities of long-term debt (includes amounts related to VIEs) 1,571 697
Long-term debt $ 21,718 $ 21,592
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 | VIEs    
Allowance for doubtful accounts - receivables of VIEs $ 58 $ 68
Regulatory Assets: Current 95 95
Current Assets: Other 61 88
Other Noncurrent Assets: Regulatory assets 1,465 1,507
Current maturities of long-term debt (includes amounts related to VIEs) 416 340
Long-term debt 1,956 2,003
Duke Energy Progress    
Allowance for doubtful accounts - receivables 6 4
Regulatory Assets: Current 888 690
Current Assets: Other 61 174
Other Noncurrent Assets: Regulatory assets 4,658 4,724
Other 651 650
Current maturities of long-term debt (includes amounts related to VIEs) 370 369
Long-term debt 11,521 10,568
Duke Energy Progress | VIEs    
Allowance for doubtful accounts - receivables of VIEs 37 40
Regulatory Assets: Current 39 39
Current Assets: Other 25 42
Other Noncurrent Assets: Regulatory assets 662 681
Current maturities of long-term debt (includes amounts related to VIEs) 34 34
Long-term debt 1,096 1,114
Duke Energy Florida    
Allowance for doubtful accounts - receivables 9 8
Regulatory Assets: Current 1,039 1,143
Current Assets: Other 100 108
Other Noncurrent Assets: Regulatory assets 2,161 2,422
Other 409 372
Current maturities of long-term debt (includes amounts related to VIEs) 1,201 328
Long-term debt 8,554 9,381
Duke Energy Florida | VIEs    
Allowance for doubtful accounts - receivables of VIEs 21 28
Regulatory Assets: Current 56 55
Current Assets: Other 36 46
Other Noncurrent Assets: Regulatory assets 803 826
Current maturities of long-term debt (includes amounts related to VIEs) 382 306
Long-term debt 859 890
Duke Energy Ohio    
Allowance for doubtful accounts - receivables 8 6
Regulatory Assets: Current 47 103
Current Assets: Other 44 86
Other Noncurrent Assets: Regulatory assets 651 581
Other 74 71
Current maturities of long-term debt (includes amounts related to VIEs) 475 475
Long-term debt $ 3,491 $ 2,745
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
Duke Energy Indiana    
Allowance for doubtful accounts - receivables $ 4 $ 4
Regulatory Assets: Current 97 249
Current Assets: Other 90 197
Other Noncurrent Assets: Regulatory assets 896 875
Other 278 254
Current maturities of long-term debt (includes amounts related to VIEs) 3 303
Long-term debt 4,350 3,854
Piedmont    
Allowance for doubtful accounts - receivables 13 14
Regulatory Assets: Current 121 119
Current Assets: Other 57 4
Other Noncurrent Assets: Regulatory assets 401 392
Other 280 272
Current maturities of long-term debt (includes amounts related to VIEs) 45 45
Long-term debt $ 3,667 $ 3,318
Common stock, shares authorized (in shares) 100 100
Common stock, shares outstanding (in shares) 100 100
v3.23.2
Consolidated Statements of Cash Flows - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 557 $ 1,700
Net income (loss) attributable to Duke Energy 584 1,764
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 2,916 2,923
Equity component of AFUDC (97) (99)
(Gains) Losses on sales of other assets (38) (10)
Impairment of assets and other charges 1,442 206
Deferred income taxes (52) 67
Impairment of assets and other charges 8 206
Equity in earnings of unconsolidated affiliates (29) (61)
Payments for asset retirement obligations (261) (255)
Provision for rate refunds (57) (65)
(Increase) decrease in    
Net realized and unrealized mark-to-market and hedging transactions 93 351
Receivables 586 (180)
Inventory (517) (12)
Other current liabilities (154) 99
Other current assets (41) (1,144)
Increase (decrease) in    
Accounts payable (1,245) 408
Taxes accrued (8) (49)
Other assets 608 65
Other liabilities 82 91
Net cash provided by (used in) operating activities 3,785 4,035
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (6,265) (5,117)
Contributions to equity method investments (22) (32)
Purchases of debt and equity securities (1,594) (2,184)
Proceeds from sales and maturities of debt and equity securities 1,628 2,225
Net proceeds from the sales of other assets 111 0
Other (366) (384)
Net cash used in investing activities (6,508) (5,492)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 7,094 5,714
Payments for the redemption of long-term debt (2,372) (3,147)
Proceeds from the issuance of short-term debt with original maturities greater than 90 days 60 30
Payments for the redemption of short-term debt with original maturities greater than 90 days (52) (257)
Notes payable and commercial paper (590) 785
Contributions from noncontrolling interests 248 126
Dividends paid (1,606) (1,574)
Other (95) (101)
Net cash provided by financing activities 2,687 1,576
Net increase (decrease) in cash, cash equivalents and restricted cash (36) 119
Cash, cash equivalents and restricted cash at beginning of period 603 520
Cash, cash equivalents and restricted cash at end of period 567 639
Cash, cash equivalents and restricted cash at beginning of period 409  
Significant non-cash transactions:    
Accrued capital expenditures 1,398 1,264
Duke Energy Carolinas    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) attributable to Duke Energy 542 668
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 906 892
Equity component of AFUDC (48) (47)
(Gains) Losses on sales of other assets (26)  
Deferred income taxes (5) 95
Impairment of assets and other charges 6 (9)
Payments for asset retirement obligations (87) (87)
Provision for rate refunds (33) (36)
(Increase) decrease in    
Net realized and unrealized mark-to-market and hedging transactions   55
Receivables 91 23
Receivables from affiliated companies 234 (51)
Inventory (239) (7)
Other current liabilities 6 151
Other current assets (482) (514)
Increase (decrease) in    
Accounts payable (652) 124
Accounts payable to affiliated companies (70) (95)
Taxes accrued 48 (97)
Other assets 542 (9)
Other liabilities 97 (33)
Net cash provided by (used in) operating activities 830 1,023
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,795) (1,523)
Purchases of debt and equity securities (936) (1,073)
Proceeds from sales and maturities of debt and equity securities 936 1,073
Net proceeds from the sales of other assets 30  
Other (129) (118)
Net cash used in investing activities (1,894) (1,641)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 2,729 1,287
Payments for the redemption of long-term debt (1,033) (382)
Notes payable to affiliated companies (655) (197)
Distributions to parent   (50)
Other (1) (1)
Net cash provided by financing activities 1,040 657
Net increase (decrease) in cash, cash equivalents and restricted cash (24) 39
Cash, cash equivalents and restricted cash at beginning of period 53 8
Cash, cash equivalents and restricted cash at end of period 29 47
Cash, cash equivalents and restricted cash at beginning of period 44  
Cash, cash equivalents and restricted cash at end of period 20  
Significant non-cash transactions:    
Accrued capital expenditures 456 413
Progress Energy    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 744 813
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 1,265 1,209
Equity component of AFUDC (33) (33)
Deferred income taxes 27 95
Impairment of assets and other charges 5 4
Payments for asset retirement obligations (131) (137)
Provision for rate refunds (24) (30)
(Increase) decrease in    
Net realized and unrealized mark-to-market and hedging transactions   314
Receivables 6 (246)
Receivables from affiliated companies (1) 117
Inventory (238) (30)
Other current liabilities (62) 74
Other current assets 332 (417)
Increase (decrease) in    
Accounts payable (293) 161
Accounts payable to affiliated companies (274) 459
Taxes accrued 153 93
Other assets 85 (76)
Other liabilities 14 (2)
Net cash provided by (used in) operating activities 1,575 2,368
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (2,425) (1,944)
Purchases of debt and equity securities (574) (996)
Proceeds from sales and maturities of debt and equity securities 608 1,032
Notes receivable from affiliated companies (25) (108)
Other (163) (21)
Net cash used in investing activities (2,579) (2,037)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 1,073 940
Payments for the redemption of long-term debt (79) (1,019)
Notes payable to affiliated companies (27) 80
Dividends to parent   (250)
Other (1) (3)
Net cash provided by financing activities 966 (252)
Net increase (decrease) in cash, cash equivalents and restricted cash (38) 79
Cash, cash equivalents and restricted cash at beginning of period 184 113
Cash, cash equivalents and restricted cash at end of period 146 192
Cash, cash equivalents and restricted cash at beginning of period 108  
Cash, cash equivalents and restricted cash at end of period 77  
Significant non-cash transactions:    
Accrued capital expenditures 544 455
Duke Energy Progress    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) attributable to Duke Energy 309 434
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 708 672
Equity component of AFUDC (27) (22)
Deferred income taxes 32 32
Impairment of assets and other charges 7 4
Payments for asset retirement obligations (106) (90)
Provision for rate refunds (24) (30)
(Increase) decrease in    
Net realized and unrealized mark-to-market and hedging transactions   314
Receivables 108 (25)
Receivables from affiliated companies (5) 63
Inventory (158) (27)
Other current liabilities (21) (9)
Other current assets (146) (83)
Increase (decrease) in    
Accounts payable (33) (7)
Accounts payable to affiliated companies (258) 32
Taxes accrued 44 (49)
Other assets 107 (75)
Other liabilities 37 9
Net cash provided by (used in) operating activities 574 1,143
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,193) (926)
Purchases of debt and equity securities (490) (887)
Proceeds from sales and maturities of debt and equity securities 486 882
Notes receivable from affiliated companies (37) (154)
Other (81) 22
Net cash used in investing activities (1,315) (1,063)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 991 939
Payments for the redemption of long-term debt (39) (530)
Notes payable to affiliated companies (239) (172)
Distributions to parent 0 (250)
Other (1) (1)
Net cash provided by financing activities 712 (14)
Net increase (decrease) in cash, cash equivalents and restricted cash (29) 66
Cash, cash equivalents and restricted cash at beginning of period 79 39
Cash, cash equivalents and restricted cash at end of period 50 105
Cash, cash equivalents and restricted cash at beginning of period 49  
Cash, cash equivalents and restricted cash at end of period 21  
Significant non-cash transactions:    
Accrued capital expenditures 198 158
Duke Energy Florida    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) attributable to Duke Energy 463 432
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 556 535
Equity component of AFUDC (6) (10)
Deferred income taxes (16) 66
Impairment of assets and other charges (1)  
Payments for asset retirement obligations (25) (47)
(Increase) decrease in    
Receivables (103) (222)
Receivables from affiliated companies (3) 11
Inventory (80) (4)
Other current liabilities (41) 87
Other current assets 403 (307)
Increase (decrease) in    
Accounts payable (261) 168
Accounts payable to affiliated companies (65) (62)
Taxes accrued 208 134
Other assets (23) (3)
Other liabilities (9) (11)
Net cash provided by (used in) operating activities 997 767
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (1,232) (1,018)
Purchases of debt and equity securities (83) (109)
Proceeds from sales and maturities of debt and equity securities 121 151
Other (81) (43)
Net cash used in investing activities (1,275) (1,019)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 82  
Payments for the redemption of long-term debt (40) (39)
Notes payable to affiliated companies 224 306
Other (1)  
Net cash provided by financing activities 265 267
Net increase (decrease) in cash, cash equivalents and restricted cash (13) 15
Cash, cash equivalents and restricted cash at beginning of period 86 62
Cash, cash equivalents and restricted cash at end of period 73 77
Cash, cash equivalents and restricted cash at beginning of period 45  
Cash, cash equivalents and restricted cash at end of period 37  
Significant non-cash transactions:    
Accrued capital expenditures 346 297
Duke Energy Ohio    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) attributable to Duke Energy 171 133
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 178 165
Equity component of AFUDC (3) (6)
Deferred income taxes 12 (41)
Payments for asset retirement obligations (5) (1)
Provision for rate refunds   5
(Increase) decrease in    
Receivables (14) 13
Receivables from affiliated companies   (3)
Inventory (33) 3
Other current liabilities (48) (47)
Other current assets 105 13
Increase (decrease) in    
Accounts payable (30) 57
Accounts payable to affiliated companies (12)  
Taxes accrued (135) (95)
Other assets (19) (46)
Other liabilities (44) 72
Net cash provided by (used in) operating activities 123 222
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (435) (406)
Losses on sales of other assets 75  
Notes receivable from affiliated companies (93) (37)
Other (34) (25)
Net cash used in investing activities (487) (468)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 749 50
Notes payable to affiliated companies (388) 199
Other (5) (1)
Net cash provided by financing activities 356 248
Net increase (decrease) in cash, cash equivalents and restricted cash (8) 2
Cash, cash equivalents and restricted cash at beginning of period 16 13
Cash, cash equivalents and restricted cash at end of period 8 15
Cash, cash equivalents and restricted cash at beginning of period 16  
Cash, cash equivalents and restricted cash at end of period 8  
Significant non-cash transactions:    
Accrued capital expenditures 120 102
Duke Energy Indiana    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) attributable to Duke Energy 220 70
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 328 312
Equity component of AFUDC (3) (10)
Impairment of assets and other charges   212
Deferred income taxes   (80)
Impairment of assets and other charges   211
Payments for asset retirement obligations (38) (31)
(Increase) decrease in    
Net realized and unrealized mark-to-market and hedging transactions   (53)
Receivables (81) 21
Receivables from affiliated companies   2
Inventory (104) (23)
Other current liabilities 124 52
Other current assets 185 (166)
Increase (decrease) in    
Accounts payable (94) 59
Accounts payable to affiliated companies (17) 7
Taxes accrued (12) 19
Other assets (26) (20)
Other liabilities 78 50
Net cash provided by (used in) operating activities 560 421
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (450) (433)
Purchases of debt and equity securities (44) (26)
Proceeds from sales and maturities of debt and equity securities 38 21
Notes receivable from affiliated companies 134 9
Other (39) (23)
Net cash used in investing activities (361) (452)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 495 67
Payments for the redemption of long-term debt (300) (53)
Notes payable to affiliated companies (225) 275
Distributions to parent (188) (237)
Other (1) (1)
Net cash provided by financing activities (219) 51
Net increase (decrease) in cash, cash equivalents and restricted cash (20) 20
Cash, cash equivalents and restricted cash at beginning of period 31 6
Cash, cash equivalents and restricted cash at end of period 11 26
Cash, cash equivalents and restricted cash at beginning of period 31  
Cash, cash equivalents and restricted cash at end of period 11  
Significant non-cash transactions:    
Accrued capital expenditures 116 94
Piedmont    
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income 235 213
Net income (loss) attributable to Duke Energy 235 213
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation, amortization and accretion (including amortization of nuclear fuel) 117 111
Equity component of AFUDC (10) (4)
Impairment of assets and other charges 4  
Deferred income taxes 33 (4)
Impairment of assets and other charges (4)  
Equity in earnings of unconsolidated affiliates (4) (4)
Provision for rate refunds 0 (3)
(Increase) decrease in    
Receivables 317 168
Receivables from affiliated companies (2)  
Inventory 98 40
Other current liabilities 27 44
Other current assets (57) (63)
Increase (decrease) in    
Accounts payable (84) 31
Accounts payable to affiliated companies (7) 4
Taxes accrued (44) (32)
Other assets (7) (6)
Other liabilities 4 (1)
Net cash provided by (used in) operating activities 612 494
CASH FLOWS FROM INVESTING ACTIVITIES    
Capital expenditures (535) (385)
Contributions to equity method investments   (8)
Other (15) (9)
Net cash used in investing activities (550) (402)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from the issuance of long-term debt 348 394
Notes payable to affiliated companies (410) (485)
Other 0 (1)
Net cash provided by financing activities (62) (92)
Significant non-cash transactions:    
Accrued capital expenditures $ 126 $ 124
v3.23.2
Consolidated Statements of Changes in Equity - USD ($)
$ in Millions
Total
Common Stockholders' Equity
Preferred 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
Duke Energy Carolinas
Duke Energy Carolinas
Members Equity
Duke Energy Carolinas
Net Gains (Losses) on Cash Flow Hedges
Progress Energy
Progress Energy
Common Stockholders' 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
Duke Energy Progress
Duke Energy Progress
Members Equity
Duke Energy Florida
Duke Energy Florida
Members Equity
Duke Energy Florida
Net Unrealized Gains (Losses) on Available-for-Sale Securities
Duke Energy Ohio
Duke Energy Ohio
Common Stock
Duke Energy Ohio
Additional Paid In Capital
Duke Energy Ohio
Retained Earnings
Duke Energy Indiana
Duke Energy Indiana
Members Equity
Duke Energy Indiana
Pension and OPEB Adjustments
Piedmont
Piedmont
Common Stockholders' Equity
Piedmont
Common Stock
Piedmont
Retained Earnings
Piedmont
Noncontrolling Interests
Common Stock
Common Stock
Common Stockholders' Equity
Common Stock
Common Stock
Common Stock
Additional Paid In Capital
Beginning Balance (parent) at Dec. 31, 2021 $ 51,136                       $ 17,148 $ 17,145 $ 9,149 $ 8,007 $ (2) $ (2) $ (7) $ 3                         $ 3,349                
Beginning Members' Equity at Dec. 31, 2021                   $ 13,891 $ 13,897 $ (6)                   $ 9,551 $ 8,295 $ 8,298 $ (3)         $ 5,015 $ 5,015                    
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2021                 $ 1,840                                                       $ 0        
Beginning Balance (Attributable to Parent) at Dec. 31, 2021   $ 49,296 $ 1,962 $ 44,371 $ 3,265 $ (232) $ (2) $ (69)                                   $ 4,464 $ 762 $ 3,100 $ 602         $ 3,349 $ 1,635 $ 1,714       $ 1  
Balance (in shares) at Dec. 31, 2021                                                                               769,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                  
Net income (loss) 1,647 1,711     1,711       (64)                                                                
Net income (loss) 1,700                       813 812   812       1                         213 213   213          
Net income (loss) 1,764                 668 668                   $ 434 434 432 432   133     133 70 70   213                
Other comprehensive (loss) income 242 [2] 230       247 (21) 4 12       (2) (2)     1 (3)         (2)   (2)                                
Common stock issuances, including dividend reinvestment and employee benefits                                                                           $ 20 $ 20   $ 20
Common stock issuances, including dividend reinvestment and employee benefits (in shares)                                                                               1,000,000  
Common stock dividends (1,521) (1,521)     (1,521)         (50) (50)   (250) (250)   (250)           (250)               (225) (225)                    
Sale of noncontrolling interest 21 (17)   (17)         38                                                                
Contribution from noncontrolling interest, net of transaction costs(a) [3] 88               88                                                                
Distributions to noncontrolling interest in subsidiaries (50)               (50)       (1)             (1)                                          
Equitization of certain notes payable to affiliates                         2,431 2,431   2,431                                                  
Other 1 1   (1) 2               1 1   1                           1 1                    
Ending Balance (parent) at Jun. 30, 2022 51,584 49,720 1,962 44,373 3,457 15 (23) (65) 1,864       20,140 20,137 9,149 11,001 (1) (5) (7) 3                         3,562             $ 1  
Ending Balance (Attributable to Parent) at Jun. 30, 2022   49,720 1,962 44,373 3,457 15 (23) (65)                                   4,597 762 3,100 735         3,562 1,635 1,927       $ 1  
Ending Balance (Attributable to Noncontrolling Interest) at Jun. 30, 2022                 1,864                                                       0        
Ending Member's Equity at Jun. 30, 2022                   14,509 14,515 (6)                   9,735 8,725 8,730 (5)         4,861 4,861                    
Balance (in shares) at Jun. 30, 2022                                                                               770,000,000  
Beginning Balance (parent) at Mar. 31, 2022 51,252 49,446 1,962 44,364 3,323 (122) (15) (67) 1,806       19,682 19,680 9,149 10,543 (1) (4) (7) 2                         3,563             $ 1  
Beginning Members' Equity at Mar. 31, 2022                   14,182 14,188 (6)                   9,517 8,465 8,469 (4)         4,824 4,824                    
Beginning Balance (Attributable to Noncontrolling Interest) at Mar. 31, 2022                                                                         0        
Beginning Balance (Attributable to Parent) at Mar. 31, 2022                                                   4,542 762 3,100 680         3,563 1,635 1,928          
Balance (in shares) at Mar. 31, 2022                                                                               770,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                  
Net income (loss) 866 893     893       (27)                                                                
Net income (loss) 880                       459 458   458       1                         (1) (1)   (1)          
Net income (loss) 907                 328 328                   219 219 261 261   56     56 149 149   (1)                
Other comprehensive (loss) income 135 [2] 131       137 (8) 2 4       (1) (1)       (1)         (1)   (1)                                
Common stock issuances, including dividend reinvestment and employee benefits                                                                           27 27   27
Common stock dividends (761) (761)     (761)                                                 (112) (112)                    
Sale of noncontrolling interest 21 (17)   (17)         38                                                                
Contribution from noncontrolling interest, net of transaction costs(a) [3] 65               65                                                                
Distributions to noncontrolling interest in subsidiaries (22)               (22)                                                                
Other 1 1   (1) 2         (1) (1)                     (1)       (1)     (1)                        
Ending Balance (parent) at Jun. 30, 2022 51,584 49,720 1,962 44,373 3,457 15 (23) (65) 1,864       20,140 20,137 9,149 11,001 (1) (5) (7) $ 3                         3,562             $ 1  
Ending Balance (Attributable to Parent) at Jun. 30, 2022   49,720 1,962 44,373 3,457 15 (23) (65)                                   4,597 762 3,100 735         3,562 1,635 1,927       $ 1  
Ending Balance (Attributable to Noncontrolling Interest) at Jun. 30, 2022                 1,864                                                       0        
Ending Member's Equity at Jun. 30, 2022                   14,509 14,515 (6)                   9,735 8,725 8,730 (5)         4,861 4,861                    
Balance (in shares) at Jun. 30, 2022                                                                               770,000,000  
Beginning Balance (parent) at Dec. 31, 2022 51,853                       $ 21,406 21,406 11,832 9,585 (1) (8) (2)             4,766             3,673                
Beginning Members' Equity at Dec. 31, 2022                   15,442 15,448 (6)                 10,309 10,309 9,023 9,031 (8)         4,703 4,702 $ 1                  
Beginning Balance (Attributable to Noncontrolling Interest) at Dec. 31, 2022 2,531               2,531                                               1       1        
Beginning Balance (Attributable to Parent) at Dec. 31, 2022 $ 49,322 49,322 1,962 44,862 2,637 (29) (23) (88)                                   $ 4,766 762 3,100 904       $ 3,672 3,672 1,635 2,037       $ 1  
Balance (in shares) at Dec. 31, 2022 770,000,000                       100                         90,000,000             100             770,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                  
Net income (loss) $ 504 531     531       (27)                                                                
Net income (loss) 557                       $ 744 744   744                                 $ 235 235   235          
Net income (loss) 584                 542 542                   309 309 463 463   $ 171     171 220 220   235                
Other comprehensive (loss) income 29 [2] 29       25 4           2 2       2         2   2                                
Common stock issuances, including dividend reinvestment and employee benefits                                                                           21 21   21
Common stock issuances, including dividend reinvestment and employee benefits (in shares)                                                                               1,000,000  
Common stock dividends (1,553) (1,553)     (1,553)                                                 (96) (96)                    
Sale of noncontrolling interest (3)                                                                                
Sale of noncontrolling interest   (13)   (13)         10                                                                
Contribution from noncontrolling interest, net of transaction costs(a) [3] 248               248                                                                
Distributions to noncontrolling interest in subsidiaries (25)               (25)                                                                
Other (3) (4)   (4)         1       (2) (2) (2)                                                    
Ending Balance (parent) at Jun. 30, 2023 51,071 48,333 1,962 44,866 1,615 (4) (19) (88) 2,738       $ 22,150 22,150 11,830 10,329 (1) (6) (2)             4,937             3,908             $ 1  
Ending Balance (Attributable to Parent) at Jun. 30, 2023 48,333 48,333 1,962 44,866 1,615 (4) (19) (88)                                   $ 4,937 762 3,100 1,075       3,907 3,907 1,635 2,272       $ 1  
Ending Balance (Attributable to Noncontrolling Interest) at Jun. 30, 2023 $ 2,738               2,738                                               $ 1       1        
Ending Member's Equity at Jun. 30, 2023                   15,984 15,990 (6)                 10,618 10,618 9,488 9,494 (6)         4,827 4,826 1                  
Balance (in shares) at Jun. 30, 2023 771,000,000                       100                         90,000,000             100             771,000,000  
Beginning Balance (parent) at Mar. 31, 2023 $ 51,951 49,260 1,962 44,837 2,626 (60) (17) (89) 2,691       $ 21,765 21,765 11,830 9,944 (1) (6) (2)                           $ 3,905             $ 1  
Beginning Members' Equity at Mar. 31, 2023                   15,714 15,720 (6)                   10,478 9,231 9,237 (6)         4,734 4,733 1                  
Beginning Balance (Attributable to Noncontrolling Interest) at Mar. 31, 2023                                                                         1        
Beginning Balance (Attributable to Parent) at Mar. 31, 2023                                                   $ 4,866 762 3,100 1,004         3,904 1,635 2,269          
Balance (in shares) at Mar. 31, 2023                                                                               771,000,000  
Increase (Decrease) in Stockholders' Equity [Roll Forward]                                                                                  
Net income (loss) (218) (234)     (234)       16                                                                
Net income (loss) (204)                       385 385   385                                 3 3   3          
Net income (loss) (220)                 270 270                   140 140 258 258   71     71 114 114   3                
Other comprehensive (loss) income 55 [2] 55       56 (2) 1                                                                  
Common stock issuances, including dividend reinvestment and employee benefits                                                                           $ 31 $ 31   $ 31
Common stock dividends (777) (777)     (777)                                                 (21) (21)                    
Contribution from noncontrolling interest, net of transaction costs(a) [3] 42               42                                                                
Distributions to noncontrolling interest in subsidiaries (12)               (12)                                                                
Other (1) (2)   (2)         1                           (1) (1)                                  
Ending Balance (parent) at Jun. 30, 2023 51,071 48,333 1,962 44,866 1,615 (4) (19) (88) 2,738       $ 22,150 $ 22,150 $ 11,830 $ 10,329 $ (1) $ (6) $ (2)             4,937             3,908             $ 1  
Ending Balance (Attributable to Parent) at Jun. 30, 2023 48,333 $ 48,333 $ 1,962 $ 44,866 $ 1,615 $ (4) $ (19) $ (88)                                   $ 4,937 $ 762 $ 3,100 $ 1,075       3,907 $ 3,907 $ 1,635 $ 2,272       $ 1  
Ending Balance (Attributable to Noncontrolling Interest) at Jun. 30, 2023 $ 2,738               $ 2,738                                               $ 1       $ 1        
Ending Member's Equity at Jun. 30, 2023                   $ 15,984 $ 15,990 $ (6)                 $ 10,618 $ 10,618 $ 9,488 $ 9,494 $ (6)         $ 4,827 $ 4,826 $ 1                  
Balance (in shares) at Jun. 30, 2023 771,000,000                       100                         90,000,000             100             771,000,000  
[1] See Duke Energy Condensed Consolidated Statements of Comprehensive Income for detailed activity related to Cash Flow and Fair Value hedges.
[2] Net of income tax expense of approximately $16 million and $40 million for the three months ended June 30, 2023, and 2022, respectively and approximately $9 million and $72 million for the six months ended June 30, 2023, and 2022, respectively.
[3] Relates primarily to tax equity financing activity in the Commercial Renewables Disposal Groups.
v3.23.2
Organization and Basis of Presentation
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Organization and Basis of Presentation ORGANIZATION AND BASIS OF PRESENTATION
BASIS OF PRESENTATION
These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2022.
The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself.
These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors.
In preparing financial statements that conform to GAAP, management 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.
BASIS OF CONSOLIDATION
These Condensed 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 12 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities.
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 condensed consolidated financial statements exclude amounts related to discontinued operations for all periods presented. For the six months ended June 30, 2023, and 2022, the Loss From Discontinued Operations, net of tax on Duke Energy's Condensed Consolidated Statements of Operations includes amounts related to noncontrolling interests. A portion of Noncontrolling interests on Duke Energy's Condensed 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.
NONCONTROLLING INTEREST
Duke Energy maintains a controlling financial interest in certain less than wholly owned subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheets. Operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares.
CASH, CASH EQUIVALENTS AND RESTRICTED CASH
Duke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Notes 10 and 12 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets. The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
DukeDukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyDukeEnergyProgressEnergyEnergy
EnergyCarolinasEnergyProgressFlorida
Energy(a)
CarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$377 $20 $77 $21 $37 $409 $44 $108 $49 $45 
Other73 8 65 25 36 82 8 74 28 41 
Other Noncurrent Assets
Other11 1 4 4 — 11 1 2 2 — 
Total cash, cash equivalents and restricted cash$461 $29 $146 $50 $73 $502 $53 $184 $79 $86 
(a)    Certain prior year balances have been adjusted for held for sale presentation. See Note 2 for additional information.
INVENTORY
Provisions for inventory write-offs were not material at June 30, 2023, and December 31, 2022. The components of inventory are presented in the tables below.
 June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,924 $1,012 $1,359 $905 $454 $131 $372 $14 
Coal850 345 251 149 102 35 219 — 
Natural gas, oil and other fuel326 46 207 110 97 12 2 59 
Total inventory $4,100 $1,403 $1,817 $1,164 $653 $178 $593 $73 
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,604 $876 $1,232 $819 $413 $105 $342 $12 
Coal620 253 190 99 91 34 144 — 
Natural gas, oil and other fuel360 35 157 88 69 5 3 160 
Total inventory $3,584 $1,164 $1,579 $1,006 $573 $144 $489 $172 
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 arrangement in Other within Other noncurrent assets. 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 Electric Utilities and Infrastructure (EU&I) segment. See Notes 2 and 3 for further information.
ACCOUNTS PAYABLE
Duke Energy maintains a supply chain finance program (the “program”) with a global financial institution. The program is voluntary and allows Duke Energy suppliers, at their sole discretion, to sell their receivables from Duke Energy to the 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. Duke Energy confirms invoices sold by suppliers under the program to the financial institution and pays the financial institution based on commercial terms negotiated between Duke Energy and the supplier regardless of program participation. Suppliers’ decisions on which invoices are sold do not impact Duke Energy’s payment terms. 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 represents the changes in confirmed obligations outstanding for the three and six months ended June 30, 2023, and 2022.
Three months ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at the March 31, 2022$19 $1 $9 $1 $8 $4 $1 $5 
Invoices confirmed during the period64 12 20 8 12 9 (1)23 
Confirmed invoices paid during the period(37)(4)(18)(6)(12)(4)— (11)
Confirmed obligations outstanding at June 30, 2022$46 $9 $11 $3 $8 $9 $— $17 
Confirmed obligations outstanding at the March 31, 2023$52 $7 $15 $6 $9 $— $— $29 
Invoices confirmed during the period55 10 20 12 8 2 — 24 
Confirmed invoices paid during the period(67)(12)(21)(6)(15)— — (34)
Confirmed obligations outstanding at June 30, 2023$40 $5 $14 $12 $2 $2 $— $19 
Six months ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at the December 31, 2021$19 $— $9 $— $9 $6 $— $4 
Invoices confirmed during the period95 14 31 10 21 15 1 34 
Confirmed invoices paid during the period(68)(5)(29)(7)(22)(12)(1)(21)
Confirmed obligations outstanding at June 30, 2022$46 $9 $11 $3 $8 $9 $— $17 
Confirmed obligations outstanding at the December 31, 2022$87 $6 $19 $8 $11 $5 $— $57 
Invoices confirmed during the period114 20 42 23 19 3 — 49 
Confirmed invoices paid during the period(161)(21)(47)(19)(28)(6)— (87)
Confirmed obligations outstanding at June 30, 2023$40 $5 $14 $12 $2 $2 $— $19 
NEW ACCOUNTING STANDARDS
No new accounting standards were adopted by the Duke Energy Registrants in 2023.
v3.23.2
Dispositions
 6 Months Ended
Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Dispositions DISPOSITIONS
Sale of Commercial Renewables Segment
In August 2022, Duke Energy announced a strategic review of its commercial renewables business. Since 2007, Duke Energy has built a portfolio of commercial wind, solar and battery projects across the U.S., and established a development pipeline. Duke Energy has developed a strategy to focus on renewables, grid and other investment opportunities within its regulated operations. 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. In June 2023, Duke Energy announced that it had entered into a purchase and sale agreement with affiliates of Brookfield for the sale of the utility-scale solar and wind group for expected proceeds of $1.1 billion, subject to closing adjustments, with approximately half of the proceeds due at closing and the remainder due 18 months after closing. In July 2023, Duke Energy announced that it had entered into a purchase and sale agreement with affiliates of ArcLight for the distributed generation group for expected proceeds of $259 million, subject to closing adjustments, with proceeds due at closing. Both transactions are expected to close by the end of 2023. In March 2023, assets for certain projects were removed from the utility-scale solar and wind group and placed in a separate disposal group. The disposal processes for the remaining assets is ongoing and Duke Energy still expects to dispose of these assets in the second half of 2023.
Assets Held For Sale and Discontinued Operations
The utility-scale solar and wind group, the distributed generation group and the remaining assets (collectively, Commercial Renewables Disposal Groups) were classified as held for sale and as discontinued operations in the fourth quarter of 2022. Originally debt and the related restricted cash and interest rate swaps were not expected to transfer to a buyer but during the marketing process it was determined they would be included with the sale and were classified as held for sale in March 2023. As a result, adjustments were made to the December 31, 2022, Consolidated Balance Sheet to present debt and the related restricted cash and interest rate swaps as held for sale. 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.
No interest from corporate level debt was allocated to discontinued operations.
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.
(in millions)June 30, 2023December 31, 2022
Current Assets Held for Sale
Cash and cash equivalents$28 $10 
Receivables, net124 107 
Inventory87 88 
Other151 151 
Total current assets held for sale390 356 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost5,343 6,444 
Accumulated depreciation and amortization(1,651)(1,651)
Net property, plant and equipment3,692 4,793 
Operating lease right-of-use assets, net144 140 
Investments in equity method unconsolidated affiliates509 522 
Other216 179 
Total other noncurrent assets held for sale869 841 
Total Assets Held for Sale$4,951 $5,990 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$80 $122 
Taxes accrued16 17 
Current maturities of long-term debt277 276 
Other202 120 
Total current liabilities associated with assets held for sale575 535 
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt1,108 1,188 
Operating lease liabilities153 150 
Asset retirement obligations197 190 
Other262 399 
Total other noncurrent liabilities associated with assets held for sale1,720 1,927 
Total Liabilities Associated with Assets Held for Sale$2,295 $2,462 
As of June 30, 2023, and December 31, 2022, the noncontrolling interest balance is $1.8 billion and $1.6 billion, respectively.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2023202220232022
Operating revenues$110 $122 $190 $243 
Operation, maintenance and other88 82177 163
Depreciation and amortization(a)
— 64— 128
Property and other taxes9 1119 21
Other income and expenses, net(3)(3)(7)(3)
Interest expense12 1843 37
Loss on disposal1,214 — 1,434 — 
Loss before income taxes(1,216)(56)(1,490)(109)
Income tax benefit(261)(38)(326)(76)
Loss from discontinued operations $(955)$(18)$(1,164)$(33)
Add: Net loss attributable to noncontrolling interest included in discontinued operations7 45 71 72 
Net (loss) income from discontinued operations attributable to Duke Energy Corporation $(948)$27 $(1,093)$39 
(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' held for sale assets reflected pretax impairments of approximately $1.7 billion as of December 31, 2022, and an incremental pretax impairment of $220 million as of March 31, 2023. The final purchase and sale agreements were signed with Brookfield in June 2023 for the utility-scale solar and wind group and with ArcLight in July 2023 for the distributed generation group, and accordingly, in the second quarter of 2023, pretax impairments of approximately $1.2 billion were recorded to write-down the carrying amount of property, plant and equipment assets to the estimated fair value of the business, based on the expected selling price less estimated costs to sell. The impairments were included in Loss from Discontinued Operations, net of tax, in Duke Energy's Condensed Consolidated Statements of Operations and Comprehensive Income for the periods presented. The fair value was primarily determined from purchase and sale agreements for the utility scale and distributed generation groups and discounted cash flow analysis for the remainder of the assets. The discounted cash flow model utilized Level 2 and Level 3 inputs. The fair value hierarchy levels are further discussed in Note 11. For utility scale and distributed generation groups, the impairment will be updated, if necessary, based on customary adjustments at closing, including variances in working capital compared to target amounts, and post-closing adjustments for variances in capital expenditures and third-party tax equity financing for development projects compared to target amounts. The impairment for the remaining assets will be updated, if necessary, based on market changes or the final sales prices.
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.
Six Months Ended
June 30,
(in millions)20232022
Cash flows provided by (used in):
Operating activities$274 $212 
Investing activities(417)(223)
Other Sale-Related Matters
Duke Energy (Parent) and several Duke Energy renewables project companies, located in the ERCOT market, were named in several lawsuits arising out of Texas Storm Uri, which occurred in February 2021. The legal actions related to renewables project companies in this matter will transfer to affiliates of Brookfield, and the plaintiffs have represented to the court that they will dismiss Duke Energy (Parent) from all cases. 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 regards 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.
v3.23.2
Business Segments
 6 Months Ended
Jun. 30, 2023
Segment Reporting [Abstract]  
Business Segments BUSINESS SEGMENTS
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 primarily includes Duke Energy's regulated electric utilities in the Carolinas, Florida and the Midwest. 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.
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, Duke Energy’s wholly owned captive insurance company, Bison, and Duke Energy's ownership interest in National Methanol Company.
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
Three Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$6,232 $337 $6,569 $9 $— $6,578 
Intersegment revenues18 22 40 25 (65)— 
Total revenues$6,250 $359 $6,609 $34 $(65)$6,578 
Segment income (loss)$850 $25 $875 $(161)$— $714 
Less: Noncontrolling interests(16)
Add: Preferred stock dividend14 
Discontinued operations(948)
Net Loss$(204)
Segment assets(a)
$154,983 $16,385 $171,368 $8,708 $— $180,076 
Three Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$6,126 $430 $6,556 $8 $— $6,564 
Intersegment revenues9 23 32 23 (55)— 
Total revenues$6,135 $453 $6,588 $31 $(55)$6,564 
Segment income (loss)$974 $19 $993 $(126)$(1)$866 
Less: Noncontrolling interests27 
Add: Preferred stock dividend14 
Discontinued operations27 
Net Income$880 
(a)Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Six Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$12,613 $1,225 $13,838 $16 $— $13,854 
Intersegment revenues35 45 80 49 (129)— 
Total revenues$12,648 $1,270 $13,918 $65 $(129)$13,854 
Segment income (loss)$1,641 $312 $1,953 $(329)$— $1,624 
Less: Noncontrolling interests27 
Add: Preferred stock dividend53 
Discontinued operations(1,093)
Net Income$557 
Six Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$12,121 $1,439 $13,560 $15 $— $13,575 
Intersegment revenues16 46 62 46 (108)— 
Total revenues$12,137 $1,485 $13,622 $61 $(108)$13,575 
Segment income (loss)(a)
$1,697 $273 $1,970 $(297)$(1)$1,672 
Less: Noncontrolling interests64 
Add: Preferred stock dividend53 
Discontinued operations39 
Net Income$1,700 
Duke Energy Ohio
Duke Energy Ohio has two reportable segments, EU&I and GU&I. The remainder of Duke Energy Ohio's operations is presented as Other.
Three Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$465 $124 $589 $— $— $589 
Segment income (loss)/Net income$54 $18 $72 $(1)$— $71 
Segment assets$7,683 $4,111 $11,794 $10 $(13)$11,791 
Three Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$401 $144 $545 $— $545 
Segment income/Net income$37 $19 $56 $— $56 
Six Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$939 $359 $1,298 $— $1,298 
Segment income (loss)/Net income$103 $70 $173 $(2)$171 
Six Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$813 $370 $1,183 $— $1,183 
Segment income (loss)/Net income$78 $57 $135 $(2)$133 
v3.23.2
Regulatory Matters
 6 Months Ended
Jun. 30, 2023
Regulated Operations [Abstract]  
Regulatory Matters REGULATORY MATTERS
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. The FERC also regulates certification and siting of new interstate natural gas pipeline projects.
Duke Energy Carolinas and Duke Energy Progress
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. By a Federal Register Notice dated July 28, 2021, the NRC provided a 60-day comment period for persons whose interest may be affected by the issuance of a subsequent renewed license for ONS to file a request for a hearing and a petition for leave to intervene. On September 27, 2021, Beyond Nuclear and Sierra Club (Petitioners) filed a Hearing Request and Petition to Intervene (Hearing Request) and a Petition for Waiver. The Hearing Request proposed three contentions and claimed that Duke Energy Carolinas did not satisfy the National Environmental Policy Act (NEPA) of 1969, as amended, or the NRC’s NEPA-implementing regulations. Following Duke Energy Carolinas' answer and the Petitioners' reply, on February 11, 2022, the Atomic Safety and Licensing Board (ASLB) issued its decision on the Hearing Request and found that the Petitioners failed to establish that the proposed contentions are litigable. The ASLB also denied the Petitioners' Petition for Waiver and terminated the proceeding.
On February 24, 2022, the NRC issued a decision in the SLR appeal related to Florida Power and Light's Turkey Point nuclear generating station in Florida. The NRC ruled that the NRC’s license renewal Generic Environmental Impact Statement (GEIS) does not apply to SLR because the GEIS does not address SLR. The decision overturned a 2020 NRC decision that found the GEIS applies to SLR. Although Turkey Point is not owned or operated by a Duke Energy Registrant, the NRC’s order applies to all SLR applicants, including ONS. The NRC order also indicated no subsequent renewed licenses will be issued until the NRC staff has completed an adequate NEPA review for each application. On April 5, 2022, the NRC approved a 24-month rulemaking plan that will enable the NRC staff to complete an adequate NEPA review. Although an SLR applicant may wait until the rulemaking is completed, the NRC also noted that an applicant may submit a supplement to its environmental report providing information on environmental impacts during the SLR period prior to the rulemaking being completed. On November 7, 2022, Duke Energy Carolinas submitted a supplement to its environmental report addressing environmental impacts during the SLR period. On December 19, 2022, the NRC published a notice in the Federal Register that the NRC will conduct a limited scoping process to gather additional information necessary to prepare an environmental impact statement (EIS) to evaluate the environmental impacts at ONS during the SLR period. The NRC received comments from the EPA and the Petitioners and these comments identify 18 potential impacts that should be considered by the NRC in the EIS, which include, but are not limited to, climate change and flooding, environmental justice, severe accidents, and external events. Currently, the NRC expects to publish a draft EIS in October 2023.
On December 19, 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. Duke Energy Carolinas and the NRC met with the Advisory Committee on Reactor Safeguards (ACRS) on February 2, 2023, to discuss issues regarding the SER and SLR application. On February 25, 2023, the ACRS issued a report to the NRC on the safety aspects of the ONS SLR application, which concluded that the established programs and commitments made by Duke Energy Carolinas to manage age-related degradation provide confidence that ONS 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 ONS should be approved.
Although the NRC’s GEIS applicability decision will delay completion of the SLR proceeding, Duke Energy Carolinas does not believe it changes the probability that the ONS subsequent renewed licenses will ultimately be issued, although Duke Energy Carolinas cannot guarantee the outcome of the license application process.
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. New depreciation rates were implemented for all of the nuclear facilities during the second quarter of 2021. Duke Energy Carolinas and Duke Energy Progress cannot predict the outcome of these additional relicensing proceedings.
Duke Energy Carolinas
2023 North Carolina Rate Case
On January 19, 2023, Duke Energy Carolinas filed a PBR application with the NCUC to request an increase in base rate retail revenues. The PBR Application includes an MYRP to recover projected capital investments during the three-year MYRP period. In addition to the MYRP, the PBR Application includes an Earnings Sharing Mechanism, Residential Decoupling Mechanism and Performance Incentive Mechanisms (PIMS) as required by HB 951. The application as originally filed requested an overall retail revenue increase of $501 million in Year 1, $172 million in Year 2 and $150 million in Year 3, for a combined total of $823 million, or 15.7%, by early 2026. The rate increase is driven primarily by major transmission and distribution investments since the last rate case and projected in the MYRP, as well as investments in energy storage and solar assets included in the MYRP consistent with the Carolinas Carbon Plan (Carbon Plan). Public Staff and intervenor testimony was filed on July 19, 2023, and Duke Energy Carolinas' rebuttal testimony was filed on August 4, 2023. Duke Energy Carolinas plans to implement interim rates, subject to refund, on September 1, 2023, and has requested permanent rates be effective by January 1, 2024. The evidentiary hearing has been scheduled to begin on August 28, 2023. Duke Energy Carolinas expects a decision on its application in this case in the fourth quarter of this year. Duke Energy Carolinas cannot predict the outcome of this matter.
Duke Energy Progress
2022 North Carolina Rate Case
On October 6, 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 includes an MYRP to recover projected capital investments during the three-year MYRP period. In addition to the MYRP, the PBR Application includes an Earnings Sharing Mechanism, Residential Decoupling Mechanism and PIMs as required by HB 951. The overall retail revenue increase as originally filed would be $326 million in Year 1, $151 million in Year 2 and $138 million in Year 3, for a combined total of $615 million, or 16%, by late 2025. The rate increase is driven primarily by major transmission and distribution investments since the last rate case and projected in the MYRP, as well as investments in energy storage and solar assets included in the MYRP consistent with the Carbon Plan. Duke Energy Progress implemented interim rates, subject to refund, on June 1, 2023, and has requested permanent rates be effective by October 1, 2023.
Testimony was filed by various parties on March 27, 2023, and Duke Energy Progress rebuttal testimony was filed on April 14, 2023. On April 26, 2023, Duke Energy Progress filed a partial settlement with Public Staff, which includes agreement on many aspects of Duke Energy Progress' three-year MYRP proposal. In May 2023, the Carolina Industrial Group for Fair Utility Rates II (CIGFUR) joined this partial settlement and Public Staff and CIGFUR filed a separate settlement reaching agreement on PIMs, Tracking Metrics and the residential decoupling mechanism under the PBR application. The key unsettled issues to be determined by the NCUC include the return on equity, capital structure, recovery of the COVID-19 cost deferral and treatment of certain regulatory asset and liability amortizations. The evidentiary hearings began on May 4, 2023, and continued through May 16, 2023. Post-hearing briefs and proposed orders were filed on June 9, 2023. However, the hearing was held open in order to allow Public Staff to complete its audit of the March 2023 capital update. On June 27, 2023, Duke Energy Progress and Public Staff filed a supplemental settlement to resolve disputed issues regarding the March capital update. The hearing was reopened on July 24, 2023, to allow the supplemental settlement into the record and to give parties an opportunity to be heard concerning the settlement and related issues. Supplemental briefing solely on these narrow issues was filed on July 31, 2023. Duke Energy Progress' proposed revenue requirement in the case, as adjusted for supplemental updates and the partial settlement, is $320 million in Year 1, $127 million in Year 2 and $140 million in Year 3, for a combined total of $587 million, or 15%, by late 2025. Duke Energy Progress expects a decision on its application in this case in the third quarter of this year. Duke Energy Progress cannot predict the outcome of this matter.
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 in the amount of approximately $171 million, 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 June 9, 2023, the PSCSC issued a procedural schedule that sets the hearing date for the petition for September 6, 2023. Testimony was filed by various parties in July 2023. Duke Energy Progress cannot predict the outcome of this matter.
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:
•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.
•ROE of 9.6% based on a capital structure of 52.43% equity and 47.57% debt.
•Continuation of deferral treatment of coal ash basin closure costs. 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).
•Acceptance of the 2021 Depreciation Study as proposed in this case, as adjusted for certain recommendations from ORS and includes accelerated retirement dates for certain coal units as originally proposed.
•Establishment of a storm reserve to help offset the costs of major storms.
The PSCSC held a hearing on January 17, 2023, to consider evidence supporting the stipulation and unanimously voted to approve the comprehensive agreement on February 9, 2023. A final written order was issued on March 8, 2023.
Duke Energy Florida
2021 Settlement Agreement
On January 14, 2021, Duke Energy Florida filed a Settlement Agreement (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 on a capital structure of 53% equity and 47% debt. 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 on August 12, 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 will be able to retain $173 million of the expected Department of Energy (DOE) award from its lawsuit to recover spent nuclear fuel to mitigate customer rates over the term of the 2021 Settlement. Duke Energy Florida is 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 authorizes 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 June 30, 2023, Duke Energy Florida has recognized $62 million into earnings. The remaining $111 million is expected to be recognized over the remainder of 2023 and 2024, while also remaining within the approved return on equity band.
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 on August 16, 2022, Duke Energy Florida is eligible for Production Tax Credits (PTCs) associated with solar facilities placed in service beginning in January 2022. Duke Energy Florida filed a petition with the FPSC on October 17, 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.
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
On July 1, 2020, Duke Energy Florida petitioned the FPSC for approval of a voluntary solar program. The program consists of 10 new solar generating facilities with combined capacity of approximately 750 MW. The program allows 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 estimated cost of the 10 new solar generation facilities is approximately $1 billion and the projects are expected to be completed by the end of 2024. This investment will be included in base rates offset by the revenue from the subscription fees and the credits will be included for recovery in the fuel cost recovery clause. The FPSC approved the program in January 2021.
On February 24, 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 on February 9, 2022. On May 27, 2022, the Supreme Court of Florida issued an order remanding the case to the FPSC so that the FPSC can amend its order to better address some of the arguments raised by LULAC. On September 23, 2022, the FPSC issued a revised order and submitted it on September 26, 2022, 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 February 6, 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. Duke Energy Florida cannot predict the outcome of this matter.
Storm Protection Plan
On April 11, 2022, Duke Energy Florida filed a Storm Protection Plan for approval with the FPSC. The plan, which covers investments for the 2023-2032 time frame, reflects approximately $7 billion of capital investment in transmission and distribution meant to strengthen its infrastructure, reduce outage times associated with extreme weather events, reduce restoration costs and improve overall service reliability. The evidentiary hearing began on August 2, 2022. On October 4, 2022, the FPSC voted to approve 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. On December 9, 2022, the OPC filed a notice of appeal of this order to the Florida Supreme Court. The OPC's initial brief was filed on April 18, 2023. Duke Energy Florida filed its brief on July 17, 2023. Duke Energy Florida cannot predict the outcome of this matter.
Hurricane Ian
On September 28, 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. Duke Energy Florida's June 30, 2023 Condensed Consolidated Balance Sheets includes an estimate of approximately $357 million in regulatory assets related to deferred Hurricane Ian storm costs consistent with the FPSC's storm rule. 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 on January 23, 2023, seeking recovery of $442 million, for recovery over 12 months beginning with the first billing cycle in April 2023. On March 7, 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 cannot predict the outcome of this matter
Duke Energy Ohio
Duke Energy Ohio Electric Base Rate Case
Duke Energy Ohio filed with the PUCO an electric distribution base rate case application on October 1, 2021, with supporting testimony filed on October 15, 2021, requesting an increase in electric distribution base rates of approximately $55 million and an ROE of 10.3%. On September 19, 2022, Duke Energy Ohio filed a Stipulation and Recommendation with the PUCO, which includes an increase in overall electric distribution base rates of approximately $23 million and an ROE of 9.5%. The stipulation is among all but one party to the proceeding. The PUCO issued an order on December 14, 2022, approving the Stipulation without material modification. Rates went into effect on January 3, 2023. The OCC filed an application for rehearing on January 13, 2023, arguing the Stipulation was unreasonable, discriminatory, and denied OCC due process. On February 8, 2023, the PUCO granted the OCC's application for rehearing for further consideration. Duke Energy Ohio cannot predict the outcome of this matter.
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. Duke Energy Ohio took the following actions:
•On March 27, 2020, Duke Energy Ohio filed an application for rehearing seeking clarification on the final true up and reconciliation process after 2020. On November 18, 2020, the PUCO issued an order replacing the cost cap previously imposed upon Duke Energy Ohio with a cap on shared savings recovery. On December 18, 2020, Duke Energy Ohio filed an additional application for rehearing challenging, among other things, the imposition of the cap on shared savings. On January 13, 2021, the application for rehearing was granted for further consideration.
•On October 9, 2020, Duke Energy Ohio filed an application to implement a voluntary energy efficiency program portfolio to commence on January 1, 2021. The application proposed a mechanism for recovery of program costs and a benefit associated with avoided transmission and distribution costs. This application remains under review.
•On November 18, 2020, the PUCO issued an order directing all utilities to set their energy efficiency riders to zero effective January 1, 2021, and to file a separate application for final reconciliation of all energy efficiency costs prior to December 31, 2020. Effective January 1, 2021, Duke Energy Ohio suspended its energy efficiency programs.
•On June 14, 2021, the PUCO requested each utility to file by July 15, 2021, a proposal to reestablish low-income programs through December 31, 2021. Duke Energy Ohio filed its application on July 14, 2021.
•On February 23, 2022, the PUCO issued its Fifth Entry on Rehearing that 1) affirmed its reduction in Duke Energy Ohio's shared savings cap; 2) denied rehearing/clarification regarding lost distribution revenues and shared savings recovery for periods after December 31, 2020; and 3) directed Duke Energy Ohio to submit an updated application with exhibits. On March 25, 2022, Duke Energy Ohio filed its Amended Application consistent with the PUCO's order.
•On March 17, 2023, the Staff of the PUCO submitted its Staff Review and Recommendation. This Staff Report, like prior such reports, recommends certain disallowances related to incentives.
•On March 27, 2023, the PUCO established a procedural schedule. Intervention/comments were filed on April 26, 2023, and Duke Energy Ohio filed reply comments on May 11, 2023.
Duke Energy Ohio cannot predict the outcome of this matter.
Duke Energy Ohio Natural Gas Base Rate Case
Duke Energy Ohio filed with the PUCO a natural gas base rate case application on June 30, 2022, with supporting testimony filed on July 14, 2022, requesting an increase in natural gas base rates of approximately $49 million and an ROE of 10.3%. This is an approximate 5.6% average increase in the customer's total bill across all customer classes. The drivers for this case are capital invested since Duke Energy Ohio's last natural gas base rate case in 2012. Duke Energy Ohio is also seeking to adjust the caps on its CEP rider. The report of the Staff of the PUCO was issued on December 21, 2022, recommending an increase in natural gas base rates of $24 million to $36 million, with an equity ratio of 52.32% and an ROE range of 9.03% to 10.04%. On April 28, 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 on May 24, 2023. Initial briefs were filed June 16, 2023, and reply briefs were filed on July 14, 2023. The record in this case is now complete and an order is anticipated in the third quarter of this year. Duke Energy Ohio cannot predict the outcome of this matter.
Duke Energy Kentucky Electric Base Rate Case
On December 1, 2022, Duke Energy Kentucky filed a rate case with the KPSC requesting an annualized increase in electric base rates of approximately $75 million and an ROE of 10.35%. This is an overall increase in rates of approximately 17.8%. The request for rate increase is driven by capital investments to strengthen the electricity generation and delivery systems along with adjusted depreciation rates for the East Bend and Woodsdale generation stations. Duke Energy Kentucky is also requesting approval for new programs for the benefit of customers and tariff updates, including a voluntary community-based renewable subscription program and two electric vehicle charging programs. Intervenor testimony was filed March 10, 2023, and rebuttal testimony was filed April 14, 2023. The Kentucky Attorney General recommended an increase of $31 million and an ROE of 9.55%. An evidentiary hearing concluded on May 11, 2023, with simultaneous briefs filed June 9, 2023, and replies filed on June 19, 2023. The record in this case is now complete and an order is expected in the third quarter of this year. Duke Energy Kentucky cannot predict the outcome of this matter.
Duke Energy Indiana
2019 Indiana Rate Case
On July 2, 2019, Duke Energy Indiana filed a general rate case with the IURC for a rate increase for retail customers of approximately $395 million. The rebuttal case, filed on December 4, 2019, updated the requested revenue requirement to result in a 15.6%, or $396 million, average retail rate increase, including the impacts of the utility receipts tax. 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. Approximately 50% of the reduction was due to a prospective change in depreciation and use of regulatory asset for the end-of-life inventory at retired generating plants, approximately 20% was due to the approved ROE of 9.7% versus the requested ROE of 10.4% and approximately 20% was related to miscellaneous earnings neutral adjustments. Step one rates were estimated to be approximately 75% of the total 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 on March 10, 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 has been 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 Condensed Consolidated Statements of Operations for the three months ended March 31, 2022. Duke Energy Indiana filed a request for rehearing with the Supreme Court on April 11, 2022, which the court denied on May 26, 2022. Duke Energy Indiana filed its testimony in the remand proceeding on August 18, 2022. On February 3, 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 of 2023, Duke Energy Indiana commenced refunding the approximate $70 million to customers in accordance with the settlement agreement.
2020 Indiana Coal Ash Recovery Case
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 on April 15, 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. An evidentiary hearing was held on September 14, 2020. Briefing was completed by mid-September 2021. 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 Court's 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. Duke Energy Indiana has filed its proposal to remove from rates certain costs incurred prior to the IURC's November 3, 2021 order date. An evidentiary hearing is scheduled for August 9, 2023. Duke Energy Indiana cannot predict the outcome of this matter.
TDSIC 2.0
On November 23, 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 addition, the IURC set up a subdocket to consider the targeted economic development project, which the IURC approved on March 2, 2022. On July 15, 2022, the OUCC filed a notice of appeal to the Indiana Court of Appeals in Duke Energy Indiana’s TDSIC 2.0 proceeding. An appellant brief was filed on October 28, 2022, and Duke Energy Indiana filed its responsive brief on December 28, 2022. 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. The Indiana Supreme Court granted transfer and scheduled an oral argument for September 28, 2023. Duke Energy Indiana cannot predict the outcome of this matter.
Piedmont
Tennessee Annual Review Mechanism
On October 10, 2022, the TPUC approved Piedmont’s petition to adopt an Annual Review Mechanism (ARM) as allowed by Tennessee law. Under the ARM, Piedmont will adjust rates annually to achieve its allowed 9.80% ROE over the upcoming year and to true up any variance between its allowed ROE and actual ROE from the prior calendar year. The initial year subject to the true up is 2022, and Piedmont filed the initial rate adjustments request on May 19, 2023, for rates effective October 1, 2023. The current hearing date is set for September 11, 2023, and Piedmont and the Consumer Advocate Division of the Tennessee Attorney General's office have agreed to both a Joint Proposed Protective Order and Joint Proposed Procedural Schedule, both filed with Piedmont's ARM filing.
v3.23.2
Commitments and Contingencies
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Commitments and Contingencies COMMITMENTS AND CONTINGENCIES
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 Duke Energy Registrants.
Remediation Activities
In addition to AROs recorded as a result of various environmental regulations, 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 on 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 on the Condensed 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 Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets.
(in millions)June 30, 2023December 31, 2022
Reserves for Environmental Remediation
Duke Energy$92 $84 
Duke Energy Carolinas23 22 
Progress Energy23 19 
Duke Energy Progress11 8 
Duke Energy Florida11 11 
Duke Energy Ohio36 33 
Duke Energy Indiana2 3 
Piedmont8 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
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 seek recovery for property damages, personal injury and wrongful death allegedly caused by the power outages that plaintiffs claim were the collective failure of generators, 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. On January 28, 2023, the Court denied certain motions including those by the generator defendants and TDUs and granted others. The generators and TDUs filed petitions for Writ of Mandamus to the Texas Court of Appeals seeking to overturn the denials. The TDUs' petition, filed first, was accepted and is set for oral argument in August 2023. The generators’ petition has not yet been set for argument. After the rulings on the motions to dismiss, plaintiffs filed new lawsuits against Duke Energy (Parent), Duke Energy Renewables, LLC, and several Duke Energy renewable entities, which are included in the MDL proceeding and are currently stayed. The plaintiffs have represented to the court that they will dismiss Duke Energy (Parent) from all cases. Duke Energy cannot predict the outcome of this matter. See Note 2 for more information related to the sale of the Commercial Renewables Disposal Groups.
Duke Energy Carolinas
Ruben Villano, et al. v. Duke Energy Carolinas, LLC
On June 16, 2021, a group of nine individuals went over a low-head dam adjacent to the Dan River Steam Station in Eden, North Carolina, while water tubing. Emergency personnel rescued four people and five others were confirmed deceased. On August 11, 2021, Duke Energy Carolinas was served with the complaint filed in Durham County Superior Court on behalf of four survivors, which was later amended to include all the decedents along with the survivors. The lawsuit alleges that Duke Energy Carolinas knew that the river was used for recreational purposes, did not adequately warn about the dam, and created a dangerous and hidden hazard on the Dan River by building and maintaining the low-head dam. Duke Energy Carolinas has reached an agreement that will resolve this matter to the parties' mutual satisfaction. The resolution, which did not have a material financial impact, has been approved by the Durham County Superior Court. The case was dismissed on June 6, 2023.
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. On September 6, 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 a 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. On April 6, 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. On October 12, 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 on October 13, 2022. On November 11, 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 on June 30, 2023. Duke Energy Carolinas cannot predict the outcome of this matter.
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 $446 million at June 30, 2023, and $457 million at December 31, 2022. These reserves are classified in Other within Other Noncurrent Liabilities and Other within Current Liabilities on the Condensed Consolidated Balance Sheets. These reserves are based on Duke Energy Carolinas' best estimate for current and future asbestos claims through 2042 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 2042 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 $595 million at June 30, 2023, and at December 31, 2022. These amounts are classified in Other within Other Noncurrent Assets and Receivables within Current Assets on the Condensed 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 is $12 million for Duke Energy and Duke Energy Carolinas as of June 30, 2023, and December 31, 2022. 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 coal combustion residuals-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. On June 30, 2023, Duke Energy Indiana and Associated Electric and Gas Insurance Services (AEGIS) reached a confidential settlement, the results of which were not material, and as a result, AEGIS was dismissed from the litigation on July 13, 2023. The lawsuit remains pending as to the other insurers, but is stayed until October 21, 2023, to allow for further settlement negotiations. Duke Energy Indiana cannot predict the outcome of this matter.
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 Condensed 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 Condensed 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.
In addition, the Duke Energy Registrants enter into various fixed-price, noncancelable commitments to purchase or sell power or natural gas, take-or-pay arrangements, transportation, or throughput agreements and other contracts that may or may not be recognized on their respective Condensed Consolidated Balance Sheets. Some of these arrangements may be recognized at fair value on their respective Condensed Consolidated Balance Sheets if such contracts meet the definition of a derivative and the NPNS exception does not apply. In most cases, the Duke Energy Registrants’ purchase obligation contracts contain provisions for price adjustments, minimum purchase levels and other financial commitments.
v3.23.2
Debt and Credit Facilities
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Debt and Credit Facilities DEBT AND CREDIT FACILITIES
Debt related to the Commercial Renewables Disposal Groups is now classified as held for sale and is excluded from the following disclosures. See Note 2 for further information.
SUMMARY OF SIGNIFICANT DEBT ISSUANCES
The following table summarizes significant debt issuances (in millions).
Six Months Ended June 30, 2023
Duke DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressOhioIndianaPiedmont
Unsecured Debt
April 2023(a)
April 20264.125 %$1,725 $1,725 $— $— $— $— $— 
June 2023(b)
June 20335.400 %350 — — — — — 350 
First Mortgage Bonds
January 2023(c)
January 20334.950 %900 — 900 — — — — 
January 2023(c)
January 20535.350 %900 — 900 — — — — 
March 2023(d)
March 20335.250 %500 — — 500 — — — 
March 2023(d)
March 20535.350 %500 — — 500 — — — 
March 2023(e)
April 20335.250 %375 — — — 375 — — 
March 2023(e)
April 20535.650 %375 — — — 375 — — 
March 2023(f)
April 20535.400 %500 — — — — 500 — 
June 2023(g)
January 20334.950 %350 — 350 — — — — 
June 2023(g)
January 20545.400 %500 — 500 — — — — 
Total issuances$6,975 $1,725 $2,650 $1,000 $750 $500 $350 
(a)See "Duke Energy (Parent) Convertible Senior Notes" below for additional information.
(b)Proceeds will be used to repay $45 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(c)Proceeds were used to repay $1 billion of maturities due March 2023, to pay down a portion of short-term debt and for general company purposes.
(d)Proceeds will be used to repay $300 million of maturities due September 2023, to pay down a portion of short-term debt and for general company purposes.
(e)Proceeds will be used to repay $300 million of maturities due September 2023 and a portion of the $100 million term loan due October 2023. Remaining proceeds will be used to repay a portion of short-term debt and for general corporate purposes.
(f)Proceeds were used to repay the $300 million term loan due October 2023. Remaining proceeds will be used to repay a portion of short-term debt and for general company purposes.
(g)Proceeds were used 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 ten 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.
CURRENT MATURITIES OF LONG-TERM DEBT
The following table shows the significant components of Current maturities of long-term debt on the Condensed 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 RateJune 30, 2023
Unsecured Debt
Duke Energy Ohio(a)
October 20235.546 %$150 
Duke Energy (Parent)October 20233.950 %400 
Duke Energy (Parent) Term Loan Facility(a)
March 20245.645 %1,000 
Duke Energy (Parent)April 20243.750 %1,000 
Duke Energy Florida(a)
April 20245.921 %800 
First Mortgage Bonds
Duke Energy ProgressSeptember 20233.375 %300 
Duke Energy OhioSeptember 20233.800 %300 
Other(b)
659 
Current maturities of long-term debt$4,609 
(a)Debt has a floating interest rate.
(b)Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
AVAILABLE CREDIT FACILITIES
Master Credit Facility
In March 2023, Duke Energy amended its existing Master Credit Facility of $9 billion to extend the termination date to March 2028. 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 the current borrowing sublimits and available capacity under these credit facilities.
June 30, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions)Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,275 $2,025 $900 $1,350 $700 $950 $800 
Reduction to backstop issuances
Commercial paper(b)
(3,143)(837)(829)(150)(759)(132)(341)(95)
Outstanding letters of credit(39)(27)(4)(1)(7)— — — 
Tax-exempt bonds(81)— — — — — (81)— 
Available capacity under the Master Credit Facility$5,737 $1,411 $1,192 $749 $584 $568 $528 $705 
(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 on the Condensed Consolidated Balance Sheets.
Other Credit Facilities
Duke Energy (Parent) Term Loan Facility
In March 2022, Duke Energy (Parent) entered into a Term Loan Credit Agreement (Credit Agreement) with commitments totaling $1.4 billion maturing March 2024. The maturity date of the Credit Agreement may be extended for up to two years by request of Duke Energy (Parent), upon satisfaction of certain conditions contained in the Credit Agreement. Borrowings under the facility were used to repay amounts drawn under the Three-Year Revolving Credit Facility and for general corporate purposes, including repayment of a portion of Duke Energy's outstanding commercial paper. The balance is classified as Current maturities of long-term debt on Duke Energy's Condensed Consolidated Balance Sheets.
In March 2023, Duke Energy amended its existing Credit Agreement in conjunction with the issuance of the Convertible Senior Notes due April 2026 to clarify that payments due as a result of a conversion of a convertible note would not constitute an event of default.
v3.23.2
Goodwill
 6 Months Ended
Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]  
Goodwill 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 Condensed Consolidated Balance Sheets at June 30, 2023, and December 31, 2022. 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 Condensed Consolidated Balance Sheets at June 30, 2023, and December 31, 2022.
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.
v3.23.2
Related Party Transactions
 6 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
Related Party Transactions RELATED PARTY TRANSACTIONS
The Subsidiary Registrants engage in related party transactions in accordance with applicable state and federal commission regulations. Refer to the Condensed Consolidated Balance Sheets of the Subsidiary Registrants for balances due to or due from related parties. Material amounts related to transactions with related parties included on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2023202220232022
Duke Energy Carolinas
Corporate governance and shared service expenses(a)
$192 $191 $388 $397 
Indemnification coverages(b)
8 7 17 14 
Joint Dispatch Agreement (JDA) revenue(c)
8 12 21 38 
JDA expense(c)
34 173 63 267 
Intercompany natural gas purchases(d)
4 5 9 9 
Progress Energy
Corporate governance and shared service expenses(a)
$172 $184 $350 $380 
Indemnification coverages(b)
12 11 24 22 
JDA revenue(c)
34 173 63 267 
JDA expense(c)
8 12 21 38 
Intercompany natural gas purchases(d)
18 19 37 38 
Duke Energy Progress
Corporate governance and shared service expenses(a)
$104 $108 $211 $227 
Indemnification coverages(b)
5 5 10 10 
JDA revenue(c)
34 173 63 267 
JDA expense(c)
8 12 21 38 
Intercompany natural gas purchases(d)
18 19 37 38 
Duke Energy Florida
Corporate governance and shared service expenses(a)
$68 $76 $139 $153 
Indemnification coverages(b)
7 6 14 12 
Duke Energy Ohio
Corporate governance and shared service expenses(a)
$76 $82 $149 $164 
Indemnification coverages(b)
2 1 3 2 
Duke Energy Indiana
Corporate governance and shared service expenses(a)
$84 $91 $183 $215 
Indemnification coverages(b)
2 2 4 4 
Piedmont
Corporate governance and shared service expenses(a)
$37 $37 $75 $72 
Indemnification coverages(b)
1 2 2 3 
Intercompany natural gas sales(d)
22 24 46 47 
Natural gas storage and transportation costs(e)
6 5 12 11 
(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 and Impairment of assets and other charges on the Condensed 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 Condensed 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 Condensed 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 Condensed Consolidated Statements of Operations and Comprehensive Income.
(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed 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, such as pipeline lease arrangements, and their proportionate share of certain charged expenses. These transactions of the Subsidiary Registrants are incurred in the ordinary course of business and are eliminated in consolidation.
As discussed in Note 12, certain trade receivables have been 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 are largely cash but do include a subordinated note from CRC for a portion of the purchase price.
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
June 30, 2023
Intercompany income tax receivable$— $— $— $— $2 $— $24 
Intercompany income tax payable89 50 28 95 — 26 — 
December 31, 2022
Intercompany income tax receivable$— $95 $36 $17 $— $— $— 
Intercompany income tax payable37 — — — 17 18 38 
v3.23.2
Derivatives and Hedging
 6 Months Ended
Jun. 30, 2023
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. Derivatives related to interest rate risk for the Commercial Renewables Disposal Groups are now classified as held for sale and are excluded from the following disclosures. See Note 2 for further information.
All derivative instruments not identified as NPNS are recorded at fair value as assets or liabilities on the Condensed Consolidated Balance Sheets. Cash collateral related to derivative instruments executed under master netting arrangements is offset against the collateralized derivatives on the Condensed Consolidated Balance Sheets. The cash impacts of settled derivatives are recorded as operating activities or financing activities on the Condensed Consolidated Statements of Cash Flows consistent with the classification of the hedged transaction.
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 accumulated other comprehensive income (loss) for the three and six months ended June 30, 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 Condensed Consolidated Statements of Operations and Comprehensive Income.
The following tables show notional amounts of outstanding derivatives related to interest rate risk.
June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,100 $— $— $— $— $— $— 
Undesignated contracts2,027 550 1,250 250 1,000 200 27 
Total notional amount$4,127 $550 $1,250 $250 $1,000 $200 $27 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$500 $— $— $— $— $— $— 
Undesignated contracts2,377 1,250 800 500 300 300 27 
Total notional amount$2,877 $1,250 $800 $500 $300 $300 $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
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.
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.
June 30, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)28,253 — — — 3,466 24,787 — 
Natural gas (millions of dekatherms)863 290 280 280 — 12 281 
December 31, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)14,086 — — — 1,820 12,266 — 
Natural gas (millions of dekatherms)909 307 292 292 — 11 299 
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 at June 30, 2023.
Fair Value Gain (Loss)(a)
(in millions)
Pay NotionalReceive NotionalReceiveHedgeThree Months Ended June 30,Six Months Ended June 30,
(in millions)Pay Rate(in millions)RateMaturity Date2023202220232022
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$5 $(16)$10 $(16)
537 5.31 %500 euros3.85 %June 20343 (13)8 (13)
Total notional amount$1,182 1,100 euros$8 $(29)$18 $(29)
(a)    Amounts are recorded in Other Income and expenses, net on the Condensed Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Condensed 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 CONDENSED 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 Condensed 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 AssetsJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$75 $16 $18 $12 $6 $4 $37 $1 
Noncurrent93 45 48 48 — — — — 
Total Derivative Assets – Commodity Contracts$168 $61 $66 $60 $6 $4 $37 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$107 $— $— $— $— $— $— $— 
Noncurrent12 — — — — — — — 
Not Designated as Hedging Instruments
Current23 — 23 — 23 — — — 
Noncurrent2 1 1 — 1 — — — 
Total Derivative Assets – Interest Rate Contracts$144 $1 $24 $— $24 $— $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent10 — — — — — — — 
Total Derivative Assets – Foreign Currency Contracts$10 $— $— $— $— $— $— $— 
Total Derivative Assets$322 $62 $90 $60 $30 $4 $37 $1 
Derivative LiabilitiesJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$235 $121 $86 $86 $— $— $6 $23 
Noncurrent254 62 59 59 — — — 133 
Total Derivative Liabilities – Commodity Contracts$489 $183 $145 $145 $— $— $6 $156 
Interest Rate Contracts
Not Designated as Hedging Instruments
Noncurrent4 — 1 1 — 1 1 — 
Total Derivative Liabilities – Interest Rate Contracts$4 $— $1 $1 $— $1 $1 $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$16 $— $— $— $— $— $— $— 
Total Derivative Liabilities – Foreign Currency Contracts$16 $— $— $— $— $— $— $— 
Total Derivative Liabilities$509 $183 $146 $146 $— $1 $7 $156 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$265 $132 $99 $99 $— $5 $29 $— 
Noncurrent213 104 108 108 — — — — 
Total Derivative Assets – Commodity Contracts$478 $236 $207 $207 $— $5 $29 $— 
Interest Rate Contracts
Designated as Hedging Instruments
Current$101 $— $— $— $— $— $— $— 
Not Designated as Hedging Instruments
Current$216 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets – Interest Rate Contracts$317 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets$795 $330 $248 $230 $17 $5 $110 $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$175 $96 $36 $18 $19 $— $16 $27 
Noncurrent202 31 30 30 — — — 141 
Total Derivative Liabilities – Commodity Contracts$377 $127 $66 $48 $19 $— $16 $168 
Interest Rate Contracts
Not Designated as Hedging Instruments
Noncurrent$2 $— $— $— $— $2 $— $— 
Total Derivative Liabilities – Interest Rate Contracts$2 $— $— $— $— $2 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$18 $— $— $— $— $— $— $— 
Noncurrent40 — — — — — — — 
Total Derivative Liabilities – Equity Securities Contracts$58 $— $— $— $— $— $— $— 
Total Derivative Liabilities$437 $127 $66 $48 $19 $2 $16 $168 
OFFSETTING ASSETS AND LIABILITIES
The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position and include collateral posted to offset the net position. 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 AssetsJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$205 $16 $41 $12 $29 $4 $37 $1 
Gross amounts offset(23)(13)(10)(10)— — — — 
Net amounts presented in Current Assets: Other$182 $3 $31 $2 $29 $4 $37 $1 
Noncurrent
Gross amounts recognized$117 $46 $49 $48 $1 $— $— $— 
Gross amounts offset(66)(33)(33)(33)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$51 $13 $16 $15 $1 $— $— $— 
Derivative LiabilitiesJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$251 $121 $86 $86 $— $— $6 $23 
Gross amounts offset(42)(24)(12)(12)— — (6)— 
Net amounts presented in Current Liabilities: Other$209 $97 $74 $74 $— $— $— $23 
Noncurrent
Gross amounts recognized$258 $62 $60 $60 $— $1 $1 $133 
Gross amounts offset(80)(43)(37)(37)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$178 $19 $23 $23 $— $1 $1 $133 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$582 $226 $140 $122 $17 $5 $110 $— 
Gross amounts offset(64)(33)(30)(30)— — — — 
Net amounts presented in Current Assets: Other$518 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$213 $104 $108 $108 $— $— $— $— 
Gross amounts offset(97)(40)(57)(57)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$116 $64 $51 $51 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Gross amounts offset(49)(15)(18)(18)— — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Gross amounts offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
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.
June 30, 2023
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$309 $164 $145 $145 
Fair value of collateral already posted28 22 6 6 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered$281 $142 $139 $139 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFlorida
Aggregate fair value of derivatives in a net liability position$141 $86 $55 $48 $7 
Fair value of collateral already posted— — — — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered$141 $86 $55 $48 $7 
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.
v3.23.2
Investments in Debt and Equity Securities
 6 Months Ended
Jun. 30, 2023
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 Progress, Duke Energy Florida and Duke Energy Indiana related to OPEB plans and (iii) Bison. The Duke Energy Registrants classify investments in debt securities as Available for Sale (AFS) and investments in equity securities as fair value through net income (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 guidelines 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 June 30, 2023, and December 31, 2022.
Other Investments amounts are recorded in Other within Other Noncurrent Assets on the Condensed 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.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $142 $— $— $215 
Equity securities4,483 34 6,836 3,658 105 5,871 
Corporate debt securities2 67 619 1 85 641 
Municipal bonds— 27 324 — 39 330 
U.S. government bonds1 92 1,495 2 112 1,423 
Other debt securities— 17 155 — 18 156 
Total NDTF Investments$4,486 $237 $9,571 $3,661 $359 $8,636 
Other Investments
Cash and cash equivalents$— $— $89 $— $— $22 
Equity securities29 6 146 21 16 128 
Corporate debt securities— 10 84 — 12 84 
Municipal bonds— 2 80 — 3 78 
U.S. government bonds— 1 48 — 2 62 
Other debt securities— 3 53 — 3 41 
Total Other Investments$29 $22 $500 $21 $36 $415 
Total Investments$4,515 $259 $10,071 $3,682 $395 $9,051 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains $20 $34 $46 $145 
 Realized losses36 101 82 186 
AFS:
 Realized gains13 11 21 15 
 Realized losses27 42 59 65 
DUKE ENERGY CAROLINAS
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $53 $— $— $117 
Equity securities2,630 19 3,945 2,147 51 3,367 
Corporate debt securities1 49 393 1 62 401 
Municipal bonds— 5 52 — 10 64 
U.S. government bonds— 45 738 1 51 685 
Other debt securities— 17 151 — 18 148 
Total NDTF Investments$2,631 $135 $5,332 $2,149 $192 $4,782 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains$9 $18 $27 $93 
 Realized losses 18 55 47 104 
AFS:
 Realized gains4 9 9 12 
 Realized losses8 21 28 37 
PROGRESS ENERGY
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $89 $— $— $98 
Equity securities1,853 15 2,891 1,511 54 2,504 
Corporate debt securities1 18 226 — 23 240 
Municipal bonds— 22 272 — 29 266 
U.S. government bonds1 47 757 1 61 738 
Other debt securities— — 4 — — 8 
Total NDTF Investments$1,855 $102 $4,239 $1,512 $167 $3,854 
Other Investments
Cash and cash equivalents$— $— $8 $— $— $11 
Municipal bonds— — 25 — — 25 
Total Other Investments$— $— $33 $— $— $36 
Total Investments$1,855 $102 $4,272 $1,512 $167 $3,890 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains$11 $16 $19 $52 
 Realized losses18 46 35 82 
AFS:
 Realized gains9 2 12 3 
 Realized losses19 17 31 23 
DUKE ENERGY PROGRESS
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $77 $— $— $56 
Equity securities1,758 15 2,783 1,431 54 2,411 
Corporate debt securities1 17 216 — 22 230 
Municipal bonds— 22 272 — 29 266 
U.S. government bonds1 27 476 1 37 460 
Other debt securities— — 4 — — 7 
Total NDTF Investments$1,760 $81 $3,828 $1,432 $142 $3,430 
Other Investments
Cash and cash equivalents$— $— $5 $— $— $9 
Total Other Investments$— $— $5 $— $— $9 
Total Investments$1,760 $81 $3,833 $1,432 $142 $3,439 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains$11 $15 $19 $51 
 Realized losses17 45 34 80 
AFS:
 Realized gains8 2 11 3 
 Realized losses17 15 29 20 
DUKE ENERGY FLORIDA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $12 $— $— $42 
Equity securities95 — 108 80 — 93 
Corporate debt securities— 1 10 — 1 10 
U.S. government bonds— 20 281 — 24 278 
Other debt securities— — — — — 1 
Total NDTF Investments(a)
$95 $21 $411 $80 $25 $424 
Other Investments
Cash and cash equivalents$— $— $2 $— $— $1 
Municipal bonds— — 25 — — 25 
Total Other Investments$— $— $27 $— $— $26 
Total Investments$95 $21 $438 $80 $25 $450 
(a)During the six months ended June 30, 2023, and the year ended December 31, 2022, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2023, and 2022, were immaterial.
DUKE ENERGY INDIANA
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
Investments
Cash and cash equivalents$— $— $— $— $— $1 
Equity securities4 6 91 2 16 79 
Corporate debt securities— — 9 — 1 8 
Municipal bonds— 2 47 — 3 45 
U.S. government bonds— — 6 — — 7 
Total Investments$4 $8 $153 $2 $20 $140 
Realized gains and losses, which were determined on a specific identification basis, from sales of FV-NI and AFS securities for the three and six months ended June 30, 2023, and 2022, were immaterial.
DEBT SECURITY MATURITIES
The table below summarizes the maturity date for debt securities.
June 30, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$142 $7 $121 $25 $96 $5 
Due after one through five years699 227 394 225 169 22 
Due after five through 10 years550 298 208 194 14 11 
Due after 10 years1,467 802 561 524 37 24 
Total$2,858 $1,334 $1,284 $968 $316 $62 
v3.23.2
Fair Value Measurements
 6 Months Ended
Jun. 30, 2023
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. Derivatives related to interest rate risk for the Commercial Renewables Disposal Groups are now classified as held for sale and are excluded from the following disclosures. See Note 2 for further information.
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 12 in Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2022, 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 Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 9. See Note 10 for additional information related to investments by major security type for the Duke Energy Registrants.
June 30, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$142 $142 $— $— $— 
NDTF equity securities6,836 6,795 — — 41 
NDTF debt securities2,593 804 1,789 — — 
Other equity securities146 146 — — — 
Other debt securities265 46 219 — — 
Other cash and cash equivalents89 89 — — — 
Derivative assets322 1 280 41 — 
Total assets10,393 8,023 2,288 41 41 
Derivative liabilities(509)(5)(504)— — 
Net assets$9,884 $8,018 $1,784 $41 $41 
December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$215 $215 $— $— $— 
NDTF equity securities5,871 5,829 — — 42 
NDTF debt securities2,550 780 1,770 — — 
Other equity securities128 128 — — — 
Other debt securities265 55 210 — — 
Other cash and cash equivalents22 22 — — — 
Derivative assets795 1 760 34 — 
Total assets9,846 7,030 2,740 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets$9,409 $7,014 $2,319 $34 $42 
The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
Three Months Ended June 30,Six Months Ended June 30,
(in millions) 2023202220232022
Balance at beginning of period$12 $10 $34 $24 
Purchases, sales, issuances and settlements:
Purchases47 77 47 77 
Settlements(38)15 (58)8 
Total gains (losses) included on the Condensed Consolidated Balance Sheet20 (13)18 (20)
Balance at end of period$41 $89 $41 $89 
DUKE ENERGY CAROLINAS
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$53 $53 $— $— 
NDTF equity securities3,945 3,904 — 41 
NDTF debt securities1,334 336 998 — 
Derivative assets62 — 62 — 
Total assets5,394 4,293 1,060 41 
Derivative liabilities(183)— (183)— 
Net assets$5,211 $4,293 $877 $41 
December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$117 $117 $— $— 
NDTF equity securities3,367 3,325 — 42 
NDTF debt securities1,298 323 975 — 
Derivative assets330 — 330 — 
Total assets5,112 3,765 1,305 42 
Derivative liabilities(127)— (127)— 
Net assets$4,985 $3,765 $1,178 $42 
PROGRESS ENERGY
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$89 $89 $— $98 $98 $— 
NDTF equity securities2,891 2,891 — 2,504 2,504 — 
NDTF debt securities1,259 468 791 1,252 457 795 
Other debt securities25 — 25 25 — 25 
Other cash and cash equivalents8 8 — 11 11 — 
Derivative assets90 — 90 248 — 248 
Total assets4,362 3,456 906 4,138 3,070 1,068 
Derivative liabilities(146)— (146)(66)— (66)
Net assets$4,216 $3,456 $760 $4,072 $3,070 $1,002 
DUKE ENERGY PROGRESS
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$77 $77 $— $56 $56 $— 
NDTF equity securities2,783 2,783 — 2,411 2,411 — 
NDTF debt securities968 234 734 963 225 738 
Other cash and cash equivalents5 5 — 9 9 — 
Derivative assets60 — 60 230 — 230 
Total assets3,893 3,099 794 3,669 2,701 968 
Derivative liabilities(146)— (146)(48)— (48)
Net assets$3,747 $3,099 $648 $3,621 $2,701 $920 
DUKE ENERGY FLORIDA
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$12 $12 $— $42 $42 $— 
NDTF equity securities108 108 — 93 93 — 
NDTF debt securities291 234 57 289 232 57 
Other debt securities25 — 25 25 — 25 
Other cash and cash equivalents2 2 — 1 1 — 
Derivative assets30 — 30 17 — 17 
Total assets468 356 112 467 368 99 
Derivative liabilities— — — (19)— (19)
Net assets$468 $356 $112 $448 $368 $80 
DUKE ENERGY OHIO
The recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets were not material at June 30, 2023, and December 31, 2022.
DUKE ENERGY INDIANA
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$91 $91 $— $— $79 $79 $— $— 
Other debt securities62 — 62 — 60 — 60 — 
Other cash and cash equivalents— — — — 1 1 — — 
Derivative assets37 — — 37 110 — 81 29 
Total assets190 91 62 37 250 80 141 29 
Derivative liabilities(7)(6)(1)— (16)(16)— — 
Net assets$183 $85 $61 $37 $234 $64 $141 $29 
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)
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2023202220232022
Balance at beginning of period$11 $10 $29 $22 
Purchases, sales, issuances and settlements:
Purchases42 74 42 74 
Settlements(37)16 (56)10 
Total gains (losses) included on the Condensed Consolidated Balance Sheet21 (16)22 (22)
Balance at end of period$37 $84 $37 $84 
PIEDMONT
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $— $— $— 
Derivative liabilities(156)— (156)(168)— (168)
Net (liabilities) assets$(155)$1 $(156)$(168)$— $(168)
QUANTITATIVE INFORMATION ABOUT UNOBSERVABLE INPUTS
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
June 30, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio 
FTRs$4 RTO auction pricingFTR price – per MWh$(0.19)-$2.71 $0.83 
Duke Energy Indiana 
FTRs37 RTO auction pricingFTR price – per MWh(1.64)-12.51 1.90 
Duke Energy
Total Level 3 derivatives$41 
December 31, 2022
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio   
FTRs$5 RTO auction pricingFTR price – per MWh$0.89 -$6.25 $3.35 
Duke Energy Indiana   
FTRs29 RTO auction pricingFTR price – per MWh0.09 -21.79 2.74 
Duke Energy
Total Level 3 derivatives$34 
OTHER FAIR VALUE DISCLOSURES
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Debt related to the Commercial Renewables Disposal Groups is now classified as held for sale and is excluded from the following disclosures. See Note 2 for further information. 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.
June 30, 2023December 31, 2022
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$74,523 $67,125 $69,751 $61,986 
Duke Energy Carolinas15,966 14,693 14,266 12,943 
Progress Energy23,439 21,546 22,439 20,467 
Duke Energy Progress12,041 10,660 11,087 9,689 
Duke Energy Florida9,755 9,106 9,709 8,991 
Duke Energy Ohio3,991 3,705 3,245 2,927 
Duke Energy Indiana4,503 4,148 4,307 3,913 
Piedmont3,712 3,272 3,363 2,940 
(a)Book value of long-term debt includes $1.13 billion and $1.17 billion at June 30, 2023, and December 31, 2022, respectively, of net unamortized debt discount and premium of purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
At both June 30, 2023, and December 31, 2022, 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.
v3.23.2
Variable Interest Entities
 6 Months Ended
Jun. 30, 2023
Variable Interest Entities [Abstract]  
Variable Interest Entities VARIABLE INTEREST ENTITIES
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 six months ended June 30, 2023, and the year ended December 31, 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 and DEPR credit facilities are reflected on the Condensed Consolidated Balance Sheets as Long-Term Debt. Amounts borrowed under the DEFR credit facility are reflected on the Condensed 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.
Receivables Financing – CRC
CRC is a bankruptcy remote, special purpose entity indirectly owned by Duke Energy. On a revolving basis, CRC buys certain accounts receivable arising from the sale of electricity, natural gas and related services from Duke Energy Ohio and Duke Energy Indiana. CRC borrows amounts under a credit facility to buy the receivables from Duke Energy Ohio and Duke Energy Indiana. Borrowing availability from the credit facility is limited to the amount of qualified receivables sold to CRC, 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 obligation is cash collections from the receivables. Amounts borrowed under the credit facility are reflected on Duke Energy's Condensed Consolidated Balance Sheets as Long-Term Debt.
The proceeds Duke Energy Ohio and Duke Energy Indiana receive from the sale of receivables to CRC are approximately 75% cash and 25% in the form of a subordinated note from CRC. The subordinated note is a retained interest in the receivables sold. Depending on collection experience, additional equity infusions to CRC may be required by Duke Energy to maintain a minimum equity balance of $3 million.
CRC is considered a VIE because (i) equity capitalization is insufficient to support its operations, (ii) power to direct the activities that most significantly impact the economic performance of the entity is not held by the equity holder and (iii) deficiencies in net worth of CRC are funded by Duke Energy. The most significant activities that impact the economic performance of CRC are decisions made to manage delinquent receivables. Duke Energy is considered the primary beneficiary and consolidates CRC as it makes these decisions. Neither Duke Energy Ohio nor Duke Energy Indiana consolidate CRC.
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 dateFebruary 2025January 2025April 2025April 2024
Credit facility amount$350 $500 $400 $325 
Amounts borrowed at June 30, 2023323 488 400 325 
Amounts borrowed at December 31, 2022350 471 400 250 
Restricted Receivables at June 30, 2023645 855 694 613 
Restricted Receivables at December 31, 2022917 928 793 490 
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 Condensed Consolidated Balance Sheets.
(in millions)June 30, 2023December 31, 2022
Receivables of VIEs$5 $6 
Regulatory Assets: Current56 55 
Current Assets: Other36 41 
Other Noncurrent Assets: Regulatory assets803 826 
Current Liabilities: Other9 9 
Current maturities of long-term debt57 56 
Long-Term Debt859 890 
Storm Recovery Bonds – Duke Energy Carolinas NC Storm Funding and Duke Energy Progress NC Storm Funding
Duke Energy Carolinas NC Storm Funding, LLC (DECNCSF) and Duke Energy Progress NC Storm Funding, LLC (DEPNCSF) are bankruptcy remote, wholly owned special purpose subsidiaries of Duke Energy Carolinas and Duke Energy Progress, respectively. These entities were formed in 2021 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.
In November 2021, DECNCSF and DEPNCSF issued $237 million and $770 million of senior secured bonds, respectively 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. 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’ 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.
DECNCSF and DEPNCSF are considered VIEs primarily because the 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 and consolidate DECNCSF and DEPNCSF, respectively.
The following table summarizes the impact of these VIEs on Duke Energy Carolinas’ and Duke Energy Progress’ Consolidated Balance Sheets.
June 30, 2023December 31, 2022
Duke EnergyDuke EnergyDuke EnergyDuke Energy
(in millions)CarolinasProgressCarolinasProgress
Regulatory Assets: Current$12 $39 $12 $39 
Current Assets: Other8 25 8 29 
Other Noncurrent Assets: Regulatory assets202 662 208 681 
Other Noncurrent Assets: Other1 4 1 2 
Current Liabilities: Other3 8 3 8 
Current maturities of long-term debt10 34 10 34 
Long-Term Debt214 697 219 714 
NON-CONSOLIDATED VIEs
The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.
June 30, 2023
Duke EnergyDuke Duke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $131 $183 
Investments in equity method unconsolidated affiliates58 — — 
Other noncurrent assets46 — — 
Total assets$104 $131 $183 
Other current liabilities23 — — 
Other noncurrent liabilities49 — — 
Total liabilities$72 $— $— 
Net assets$32 $131 $183 
December 31, 2022
Duke EnergyDuke Duke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $198 $317 
Investments in equity method unconsolidated affiliates43 — — 
Other noncurrent assets45 — — 
Total assets$88 $198 $317 
Other current liabilities59 — — 
Other noncurrent liabilities47 — — 
Total liabilities$106 $— $— 
Net (liabilities) assets$(18)$198 $317 
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. These subordinated notes held by Duke Energy Ohio and Duke Energy Indiana are stated at fair value.
The following table shows the gross and net receivables sold.
Duke Energy OhioDuke Energy Indiana
(in millions)June 30, 2023December 31, 2022June 30, 2023December 31, 2022
Receivables sold$354 $423 $333 $508 
Less: Retained interests131 198 183 317 
Net receivables sold$223 $225 $150 $191 
The following table shows sales and cash flows related to receivables sold.
Duke Energy OhioDuke Energy Indiana
Six Months EndedSix Months Ended
June 30,June 30,
(in millions)2023202220232022
Sales
Receivables sold$1,381 $1,247 $1,665 $1,617 
Loss recognized on sale17 7 19 6 
Cash flows
Cash proceeds from receivables sold$1,445 $1,188 $1,793 $1,484 
Collection fees received1 1 1 1 
Return received on retained interests10 3 13 4 
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 Condensed Consolidated Statements of Cash Flows.
v3.23.2
Revenue
 6 Months Ended
Jun. 30, 2023
Revenue from Contract with Customer [Abstract]  
Revenue REVENUE
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.
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)20232024202520262027ThereafterTotal
Progress Energy$31 $66 $7 $7 $7 $36 $154 
Duke Energy Progress4 8 — — — — 12 
Duke Energy Florida27 58 7 7 7 36 142 
Duke Energy Indiana8 16 17 15 7 5 68 
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.
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)20232024202520262027ThereafterTotal
Piedmont$33 $62 $61 $51 $49 $241 $497 
Other
The remainder of Duke Energy’s operations is presented as Other, which does not include material revenues from contracts with customers.
Disaggregated Revenues
Disaggregated revenues are presented as follows:
Three Months Ended June 30, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,740 $715 $1,555 $539 $1,016 $208 $262 $— 
   General1,876 607 914 369 545 141 212 — 
   Industrial827 320 274 180 94 56 177 — 
   Wholesale498 126 294 259 35 12 66 — 
   Other revenues189 49 144 70 74 22 32 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$6,130 $1,817 $3,181 $1,417 $1,764 $439 $749 $— 
Gas Utilities and Infrastructure
   Residential$179 $— $— $— $— $82 $— $97 
   Commercial100 — — — — 31 — 69 
   Industrial30 — — — — 6 — 24 
   Power Generation— — — — — — — 23 
   Other revenues25 — — — — 5 — 5 
Total Gas Utilities and Infrastructure revenue from contracts with customers$334 $— $— $— $— $124 $— $218 
Other
Revenue from contracts with customers$9 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$6,473 $1,817 $3,181 $1,417 $1,764 $563 $749 $218 
Other revenue sources(a)
$105 $11 $31 $8 $18 $26 $31 $18 
Total revenues$6,578 $1,828 $3,212 $1,425 $1,782 $589 $780 $236 
Three Months Ended June 30, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,625 $736 $1,400 $530 $870 $196 $296 $— 
   General1,817 566 889 370 519 111 251 — 
   Industrial824 296 274 184 90 33 220 — 
   Wholesale629 103 389 281 108 35 102 — 
   Other revenues202 92 247 210 37 20 23 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$6,097 $1,793 $3,199 $1,575 $1,624 $395 $892 $— 
Gas Utilities and Infrastructure
   Residential$197 $— $— $— $— $94 $— $103 
   Commercial127 — — — — 38 — 90 
   Industrial34 — — — — 6 — 28 
   Power Generation— — — — — — — 23 
   Other revenues66 — — — — 6 — 44 
Total Gas Utilities and Infrastructure revenue from contracts with customers$424 $— $— $— $— $144 $— $288 
Other
Revenue from contracts with customers$8 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$6,529 $1,793 $3,199 $1,575 $1,624 $539 $892 $288 
Other revenue sources(a)
$35 $(12)$15 $6 $4 $6 $26 $22 
Total revenues$6,564 $1,781 $3,214 $1,581 $1,628 $545 $918 $310 
(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.
Six Months Ended June 30, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$5,591 $1,539 $2,976 $1,146 $1,830 $442 $634 $— 
   General3,707 1,195 1,755 727 1,028 276 482 — 
   Industrial1,718 616 546 357 189 127 428 — 
   Wholesale1,048 261 642 578 64 21 124 — 
   Other revenues333 127 265 138 127 49 47 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$12,397 $3,738 $6,184 $2,946 $3,238 $915 $1,715 $— 
Gas Utilities and Infrastructure
   Residential$686 $— $— $— $— $244 $— $442 
   Commercial333 — — — — 89 — 244 
   Industrial77 — — — — 15 — 61 
   Power Generation— — — — — — — 46 
   Other revenues65 — — — — 11 — 24 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,161 $— $— $— $— $359 $— $817 
Other
Revenue from contracts with customers$16 $— $— $— $— $— $— $— 
Total Revenue from contracts with customers$13,574 $3,738 $6,184 $2,946 $3,238 $1,274 $1,715 $817 
Other revenue sources(a)
$280 $24 $76 $12 $54 $24 $40 $94 
Total revenues$13,854 $3,762 $6,260 $2,958 $3,292 $1,298 $1,755 $911 
(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.
Six Months Ended June 30, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$5,392 $1,567 $2,768 $1,154 $1,614 $407 $650 $— 
   General3,421 1,110 1,615 695 920 227 469 — 
   Industrial1,596 572 544 378 166 68 412 — 
   Wholesale1,255 216 800 630 170 58 181 — 
   Other revenues404 203 458 349 109 41 (13)— 
Total Electric Utilities and Infrastructure revenue from contracts with customers$12,068 $3,668 $6,185 $3,206 $2,979 $801 $1,699 $— 
Gas Utilities and Infrastructure
   Residential$769 $— $— $— $— $243 $— $526 
   Commercial396 — — — — 102 — 294 
   Industrial91 — — — — 13 — 78 
   Power Generation— — — — — — — 47 
   Other revenues181 — — — — 12 — 137 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,437 $— $— $— $— $370 $— $1,082 
Other
Revenue from contracts with customers$15 $— $— $— $— $— $— $— 
Total Revenue from contracts with customers$13,520 $3,668 $6,185 $3,206 $2,979 $1,171 $1,699 $1,082 
Other revenue sources(a)
$55 $1 $21 $7 $4 $12 $41 $33 
Total revenues$13,575 $3,669 $6,206 $3,213 $2,983 $1,183 $1,740 $1,115 
(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.
Three Months Ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at March 31, 2022$139 $52 $51 $31 $21 $4 $3 $17 
Write-Offs(31)(16)(9)(5)(5)— — (5)
Credit Loss Expense20 8 7 2 5 — — 3 
Other Adjustments7 8 3 3 — — — — 
Balance at June 30, 2022$135 $52 $52 $31 $21 $4 $3 $15 
Balance at March 31, 2023$214 $70 $75 $45 $30 $7 $4 $14 
Write-Offs(43)(20)(18)(10)(8)— — (5)
Credit Loss Expense23 6 12 4 8 1 — 4 
Other Adjustments5 1 4 4 — — — — 
Balance at June 30, 2023$199 $57 $73 $43 $30 $8 $4 $13 
Six Months Ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$121 $42 $36 $21 $16 $4 $3 $15 
Write-Offs(54)(25)(19)(7)(13)— — (6)
Credit Loss Expense44 13 19 6 13 — — 6 
Other Adjustments24 22 16 11 5 — — — 
Balance at June 30, 2022$135 $52 $52 $31 $21 $4 $3 $15 
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(85)(40)(40)(19)(20)— — (6)
Credit Loss Expense39 13 18 5 13 2 — 5 
Other Adjustments29 16 14 13 1 — — — 
Balance at June 30, 2023$199 $57 $73 $43 $30 $8 $4 $13 
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.
The aging of trade receivables is presented in the table below.
June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$1,123 $441 $354 $215 $139 $3 $26 $5 
Current2,148 593 1,022 535 485 27 104 102 
1-31 days past due244 58 124 51 73 3 15 8 
31-61 days past due108 25 48 37 11 5 9 5 
61-91 days past due41 9 11 5 6 2 8 4 
91+ days past due251 74 69 22 47 54 20 5 
Deferred Payment Arrangements(c)
112 36 46 30 16 3 — 1 
Trade and Other Receivables$4,027 $1,236 $1,674 $895 $777 $97 $182 $130 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$1,457 $486 $355 $232 $123 $20 $28 $160 
Current2,347 577 1,059 637 417 15 52 265 
1-31 days past due261 96 60 15 45 5 17 15 
31-61 days past due123 23 61 49 12 6 2 3 
61-91 days past due74 25 18 9 9 3 11 2 
91+ days past due209 70 74 27 47 26 6 4 
Deferred Payment Arrangements(c)
160 57 62 35 27 4 — 1 
Trade and Other Receivables$4,631 $1,334 $1,689 $1,004 $680 $79 $116 $450 
(a)Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed and are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets.
(b)Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Condensed Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 12 for further information. These receivables for unbilled revenues are $122 million and $172 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of June 30, 2023, and $148 million and $260 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2022.
(c)Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
v3.23.2
Stockholders' Equity
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Stockholders' Equity STOCKHOLDERS' EQUITYBasic 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 restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed 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.
Three Months Ended June 30,Six Months Ended June 30,
(in millions, except per share amounts)2023202220232022
Net (Loss) Income available to Duke Energy common stockholders$(234)$893 $531 $1,711 
Less: (Loss) Income from discontinued operations attributable to Duke Energy common stockholders(948)27 (1,093)39 
Accumulated preferred stock dividends adjustment(12)(12)— — 
Less: Impact of participating securities1 — 2 1 
Income from continuing operations available to Duke Energy common stockholders$701 $854 $1,622 $1,671 
Loss from discontinued operations, net of tax$(955)$(18)$(1,164)$(33)
Add: Loss attributable to NCI7 45 7172 
(Loss) Income from discontinued operations attributable to Duke Energy common stockholders$(948)$27 $(1,093)$39 
Weighted average common shares outstanding – basic and diluted771 770 770 770 
EPS from continuing operations available to Duke Energy common stockholders
Basic and diluted(a)
$0.91 $1.11 $2.10 $2.17 
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and diluted(a)
$(1.23)$0.03 $(1.41)$0.05 
Potentially dilutive items excluded from the calculation(b)
2 2 2 2 
Dividends declared per common share$1.005 $0.985 $2.010 $1.970 
Dividends declared on Series A preferred stock per depositary share(c)
$0.359 $0.359 $0.719 $0.719 
Dividends declared on Series B preferred stock per share(d)
$— $— $24.375 $24.375 
(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 are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share.
v3.23.2
Employee Benefit Plans
 6 Months Ended
Jun. 30, 2023
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 and non-qualified, non-contributory defined benefit retirement plans. 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.
QUALIFIED PENSION PLANS
The following tables include the components of net periodic pension costs for qualified pension plans.
Three Months Ended June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$29 $9 $7 $5 $4 $— $2 $1 
Interest cost on projected benefit obligation86 21 27 13 15 5 7 3 
Expected return on plan assets(147)(40)(49)(23)(26)(6)(10)(5)
Amortization of actuarial loss3 1 1 1 — — — — 
Amortization of prior service credit(4)— — — — — (1)(2)
Amortization of settlement charges4 2 1 1 1 — 1 1 
Net periodic pension costs$(29)$(7)$(13)$(3)$(6)$(1)$(1)$(2)
Three Months Ended June 30, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$41 $14 $11 $7 $6 $1 $2 $2 
Interest cost on projected benefit obligation59 13 18 8 10 3 5 2 
Expected return on plan assets(141)(38)(47)(22)(24)(6)(10)(6)
Amortization of actuarial loss23 5 7 4 3 1 3 1 
Amortization of prior service credit(4)(1)— — — — (1)(2)
Amortization of settlement charges2 2 — 1 — — — — 
Net periodic pension costs$(20)$(5)$(11)$(2)$(5)$(1)$(1)$(3)
Six Months Ended June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$59 $19 $16 $10 $7 $1 $3 $2 
Interest cost on projected benefit obligation172 42 54 25 29 9 14 5 
Expected return on plan assets(294)(80)(99)(46)(52)(12)(20)(10)
Amortization of actuarial loss5 1 2 1 1 — 1 — 
Amortization of prior service credit(7)— — — — — (1)(4)
Amortization of settlement charges9 4 2 2 1 — 1 2 
Net periodic pension costs$(56)$(14)$(25)$(8)$(14)$(2)$(2)$(5)
Six Months Ended June 30, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$81 $26 $23 $14 $10 $2 $4 $3 
Interest cost on projected benefit obligation117 27 36 16 20 6 10 4 
Expected return on plan assets(281)(76)(93)(44)(48)(11)(19)(12)
Amortization of actuarial loss47 10 13 7 6 2 5 3 
Amortization of prior service credit(9)(2)— — — — (1)(4)
Amortization of settlement charges4 3 1 1 — — — — 
Net periodic pension costs$(41)$(12)$(20)$(6)$(12)$(1)$(1)$(6)
NON-QUALIFIED PENSION PLANS
Net periodic pension costs for non-qualified pension plans were not material for the three and six months ended June 30, 2023, and 2022.
OTHER POST-RETIREMENT BENEFIT PLANS
Net periodic costs for OPEB plans were not material for the three and six months ended June 30, 2023, and 2022.
v3.23.2
Income Taxes
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Income Taxes INCOME TAXES
EFFECTIVE TAX RATES
The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table.
Three Months EndedSix Months Ended
June 30,June 30,
2023202220232022
Duke Energy13.7 %11.3 %13.7 %7.4 %
Duke Energy Carolinas10.6 %7.3 %11.0 %7.4 %
Progress Energy16.7 %16.8 %16.7 %16.4 %
Duke Energy Progress14.1 %13.8 %14.4 %13.9 %
Duke Energy Florida19.9 %20.2 %19.9 %20.1 %
Duke Energy Ohio15.5 %13.8 %16.2 %(54.7)%
Duke Energy Indiana17.4 %8.6 %17.3 %(48.9)%
Piedmont25.0 %85.7 %17.8 %11.3 %
The increase in the ETR for Duke Energy for the three and six months ended June 30, 2023, was primarily due to a decrease in the amortization of excess deferred taxes.
The increase in the ETR for Duke Energy Carolinas for the three and six months ended June 30, 2023, was primarily due to a decrease in the amortization of excess deferred taxes.
The increase in the ETR for Duke Energy Ohio for the three months ended June 30, 2023, was primarily due to the amortization of excess deferred taxes in relation to higher pretax income.
The increase in the ETR for Duke Energy Ohio for the six months ended June 30, 2023, was primarily due to a decrease in the amortization of excess deferred taxes related to the MGP Settlement recorded in the prior year.
The increase in the ETR for Duke Energy Indiana for the three months ended June 30, 2023, was primarily due to a decrease in the amortization of excess deferred taxes related to the coal ash impairment based on the Indiana Supreme Court Opinion recorded in the prior year.
The increase in the ETR for Duke Energy Indiana for the six months ended June 30, 2023, was primarily due to the coal ash impairment based on the Indiana Supreme Court Opinion and the associated amortization of excess deferred taxes recorded in the prior year.
The decrease in the ETR for Piedmont for the three months ended June 30, 2023, was primarily due to certain favorable tax credits recorded in the prior year, in relation to pretax losses.
The increase in the ETR for Piedmont for the six months ended June 30, 2023, was primarily due to a decrease in the amortization of excess deferred taxes and certain favorable tax credits recorded in the prior year.
v3.23.2
Subsequent Events
 6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
Subsequent Events SUBSEQUENT EVENTSFor information on subsequent events related to dispositions, regulatory matters, and commitments and contingencies, see Notes 2, 4 and 5, respectively.
v3.23.2
Pay vs Performance Disclosure - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Pay vs Performance Disclosure        
Net income (loss) attributable to Duke Energy $ (220) $ 907 $ 584 $ 1,764
v3.23.2
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2023
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
v3.23.2
Organization and Basis of Presentation (Policy)
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
BASIS OF PRESENTATION
These Condensed Consolidated Financial Statements have been prepared in accordance with GAAP for interim financial information and with the instructions to Form 10-Q and Regulation S-X. Accordingly, these Condensed Consolidated Financial Statements do not include all information and notes required by GAAP for annual financial statements and should be read in conjunction with the Consolidated Financial Statements in the Duke Energy's Annual Report on Form 10-K for the year ended December 31, 2022.
The information in these combined notes relates to each of the Duke Energy Registrants as noted in the Index to Combined Notes to Condensed Consolidated Financial Statements. However, none of the registrants make any representations as to information related solely to Duke Energy or the subsidiaries of Duke Energy other than itself.
These Condensed Consolidated Financial Statements, in the opinion of the respective companies’ management, reflect all normal recurring adjustments necessary to fairly present the financial position and results of operations of each of the Duke Energy Registrants. Amounts reported in Duke Energy’s interim Condensed Consolidated Statements of Operations and each of the Subsidiary Registrants’ interim Condensed Consolidated Statements of Operations and Comprehensive Income are not necessarily indicative of amounts expected for the respective annual periods due to effects of seasonal temperature variations on energy consumption, regulatory rulings, timing of maintenance on electric generating units, changes in mark-to-market valuations, changing commodity prices and other factors.
In preparing financial statements that conform to GAAP, management 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.
Basis of Consolidation and Noncontrolling Interest
BASIS OF CONSOLIDATION
These Condensed 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 12 for additional information on VIEs. These Condensed Consolidated Financial Statements also reflect the Duke Energy Registrants’ proportionate share of certain jointly owned generation and transmission facilities.
NONCONTROLLING INTEREST
Duke Energy maintains a controlling financial interest in certain less than wholly owned subsidiaries. As a result, Duke Energy consolidates these subsidiaries and presents the third-party investors' portion of Duke Energy's net income (loss), net assets and comprehensive income (loss) as noncontrolling interest. Noncontrolling interest is included as a component of equity on the Condensed Consolidated Balance Sheets. Operating agreements of Duke Energy's subsidiaries with noncontrolling interest allocate profit and loss based on their pro rata shares of the ownership interest in the respective subsidiary. Therefore, Duke Energy allocates net income or loss and other comprehensive income or loss of these subsidiaries to the owners based on their pro rata shares.
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 condensed consolidated financial statements exclude amounts related to discontinued operations for all periods presented. For the six months ended June 30, 2023, and 2022, the Loss From Discontinued Operations, net of tax on Duke Energy's Condensed Consolidated Statements of Operations includes amounts related to noncontrolling interests. A portion of Noncontrolling interests on Duke Energy's Condensed 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.
Cash, Cash Equivalents, and Restricted Cash CASH, CASH EQUIVALENTS AND RESTRICTED CASHDuke Energy, Duke Energy Carolinas, Progress Energy, Duke Energy Progress and Duke Energy Florida have restricted cash balances related primarily to collateral assets, escrow deposits and VIEs. See Notes 10 and 12 for additional information. Restricted cash amounts are included in Other within Current Assets and Other Noncurrent Assets on the Condensed Consolidated Balance Sheets.
New Accounting Standards
NEW ACCOUNTING STANDARDS
No new accounting standards were adopted by the Duke Energy Registrants in 2023.
Environmental Costs Liabilities are recorded when losses become probable and are reasonably estimable.Costs are typically expensed as Operation, maintenance and other on the Condensed Consolidated Statements of Operations unless regulatory recovery of the costs is deemed probable.
Derivatives 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 Condensed Consolidated Statements of Operations and Comprehensive Income.
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.
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.
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.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.
Revenue from Contract with Customer Duke Energy earns substantially all of its revenues through its reportable segments, EU&I and GU&I.
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. Duke Energy’s participating securities are restricted stock units that are entitled to dividends declared on Duke Energy common stock during the restricted stock unit’s vesting periods. Dividends declared on preferred stock are recorded on the Condensed 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.
v3.23.2
Organization and Basis of Presentation (Tables)
 6 Months Ended
Jun. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Cash, Cash Equivalents and Restricted Cash The following table presents the components of cash, cash equivalents and restricted cash included in the Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
DukeDukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyDukeEnergyProgressEnergyEnergy
EnergyCarolinasEnergyProgressFlorida
Energy(a)
CarolinasEnergyProgressFlorida
Current Assets
Cash and cash equivalents$377 $20 $77 $21 $37 $409 $44 $108 $49 $45 
Other73 8 65 25 36 82 8 74 28 41 
Other Noncurrent Assets
Other11 1 4 4 — 11 1 2 2 — 
Total cash, cash equivalents and restricted cash$461 $29 $146 $50 $73 $502 $53 $184 $79 $86 
(a)    Certain prior year balances have been adjusted for held for sale presentation. See Note 2 for additional information.
Schedule of Utility Inventory The components of inventory are presented in the tables below.
 June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,924 $1,012 $1,359 $905 $454 $131 $372 $14 
Coal850 345 251 149 102 35 219 — 
Natural gas, oil and other fuel326 46 207 110 97 12 2 59 
Total inventory $4,100 $1,403 $1,817 $1,164 $653 $178 $593 $73 
 December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Materials and supplies $2,604 $876 $1,232 $819 $413 $105 $342 $12 
Coal620 253 190 99 91 34 144 — 
Natural gas, oil and other fuel360 35 157 88 69 5 3 160 
Total inventory $3,584 $1,164 $1,579 $1,006 $573 $144 $489 $172 
Schedule of Accounts Payable Finance Programs
The following table represents the changes in confirmed obligations outstanding for the three and six months ended June 30, 2023, and 2022.
Three months ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at the March 31, 2022$19 $1 $9 $1 $8 $4 $1 $5 
Invoices confirmed during the period64 12 20 8 12 9 (1)23 
Confirmed invoices paid during the period(37)(4)(18)(6)(12)(4)— (11)
Confirmed obligations outstanding at June 30, 2022$46 $9 $11 $3 $8 $9 $— $17 
Confirmed obligations outstanding at the March 31, 2023$52 $7 $15 $6 $9 $— $— $29 
Invoices confirmed during the period55 10 20 12 8 2 — 24 
Confirmed invoices paid during the period(67)(12)(21)(6)(15)— — (34)
Confirmed obligations outstanding at June 30, 2023$40 $5 $14 $12 $2 $2 $— $19 
Six months ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Confirmed obligations outstanding at the December 31, 2021$19 $— $9 $— $9 $6 $— $4 
Invoices confirmed during the period95 14 31 10 21 15 1 34 
Confirmed invoices paid during the period(68)(5)(29)(7)(22)(12)(1)(21)
Confirmed obligations outstanding at June 30, 2022$46 $9 $11 $3 $8 $9 $— $17 
Confirmed obligations outstanding at the December 31, 2022$87 $6 $19 $8 $11 $5 $— $57 
Invoices confirmed during the period114 20 42 23 19 3 — 49 
Confirmed invoices paid during the period(161)(21)(47)(19)(28)(6)— (87)
Confirmed obligations outstanding at June 30, 2023$40 $5 $14 $12 $2 $2 $— $19 
v3.23.2
Dispositions (Tables)
 6 Months Ended
Jun. 30, 2023
Discontinued Operations and Disposal Groups [Abstract]  
Disposal Groups, Including Discontinued Operations
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.
(in millions)June 30, 2023December 31, 2022
Current Assets Held for Sale
Cash and cash equivalents$28 $10 
Receivables, net124 107 
Inventory87 88 
Other151 151 
Total current assets held for sale390 356 
Noncurrent Assets Held for Sale
Property, Plant and Equipment
Cost5,343 6,444 
Accumulated depreciation and amortization(1,651)(1,651)
Net property, plant and equipment3,692 4,793 
Operating lease right-of-use assets, net144 140 
Investments in equity method unconsolidated affiliates509 522 
Other216 179 
Total other noncurrent assets held for sale869 841 
Total Assets Held for Sale$4,951 $5,990 
Current Liabilities Associated with Assets Held for Sale
Accounts payable$80 $122 
Taxes accrued16 17 
Current maturities of long-term debt277 276 
Other202 120 
Total current liabilities associated with assets held for sale575 535 
Noncurrent Liabilities Associated with Assets Held for Sale
Long-Term debt1,108 1,188 
Operating lease liabilities153 150 
Asset retirement obligations197 190 
Other262 399 
Total other noncurrent liabilities associated with assets held for sale1,720 1,927 
Total Liabilities Associated with Assets Held for Sale$2,295 $2,462 
As of June 30, 2023, and December 31, 2022, the noncontrolling interest balance is $1.8 billion and $1.6 billion, respectively.
The following table presents the results of the Commercial Renewables Disposal Groups, which are included in Loss from Discontinued Operations, net of tax in Duke Energy's Consolidated Statements of Operations.
Three Months EndedSix Months Ended
June 30,June 30,
(in millions)2023202220232022
Operating revenues$110 $122 $190 $243 
Operation, maintenance and other88 82177 163
Depreciation and amortization(a)
— 64— 128
Property and other taxes9 1119 21
Other income and expenses, net(3)(3)(7)(3)
Interest expense12 1843 37
Loss on disposal1,214 — 1,434 — 
Loss before income taxes(1,216)(56)(1,490)(109)
Income tax benefit(261)(38)(326)(76)
Loss from discontinued operations $(955)$(18)$(1,164)$(33)
Add: Net loss attributable to noncontrolling interest included in discontinued operations7 45 71 72 
Net (loss) income from discontinued operations attributable to Duke Energy Corporation $(948)$27 $(1,093)$39 
(a)    Upon meeting the criteria for assets held for sale, beginning in November 2022 depreciation and amortization expense were ceased.
The following table summarizes Duke Energy's cash flows from discontinued operations related to the Commercial Renewables Disposal Groups.
Six Months Ended
June 30,
(in millions)20232022
Cash flows provided by (used in):
Operating activities$274 $212 
Investing activities(417)(223)
v3.23.2
Business Segments (Tables)
 6 Months Ended
Jun. 30, 2023
Segment Reporting Information [Line Items]  
Business Segment Data
Business segment information is presented in the following tables. Segment assets presented exclude intercompany assets.
Three Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$6,232 $337 $6,569 $9 $— $6,578 
Intersegment revenues18 22 40 25 (65)— 
Total revenues$6,250 $359 $6,609 $34 $(65)$6,578 
Segment income (loss)$850 $25 $875 $(161)$— $714 
Less: Noncontrolling interests(16)
Add: Preferred stock dividend14 
Discontinued operations(948)
Net Loss$(204)
Segment assets(a)
$154,983 $16,385 $171,368 $8,708 $— $180,076 
Three Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$6,126 $430 $6,556 $8 $— $6,564 
Intersegment revenues9 23 32 23 (55)— 
Total revenues$6,135 $453 $6,588 $31 $(55)$6,564 
Segment income (loss)$974 $19 $993 $(126)$(1)$866 
Less: Noncontrolling interests27 
Add: Preferred stock dividend14 
Discontinued operations27 
Net Income$880 
(a)Other includes Assets Held for Sale balances related to the Commercial Renewables Disposal Groups. Refer to Note 2 for further information.
Six Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$12,613 $1,225 $13,838 $16 $— $13,854 
Intersegment revenues35 45 80 49 (129)— 
Total revenues$12,648 $1,270 $13,918 $65 $(129)$13,854 
Segment income (loss)$1,641 $312 $1,953 $(329)$— $1,624 
Less: Noncontrolling interests27 
Add: Preferred stock dividend53 
Discontinued operations(1,093)
Net Income$557 
Six Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Unaffiliated revenues$12,121 $1,439 $13,560 $15 $— $13,575 
Intersegment revenues16 46 62 46 (108)— 
Total revenues$12,137 $1,485 $13,622 $61 $(108)$13,575 
Segment income (loss)(a)
$1,697 $273 $1,970 $(297)$(1)$1,672 
Less: Noncontrolling interests64 
Add: Preferred stock dividend53 
Discontinued operations39 
Net Income$1,700 
(a)EU&I includes $211 million recorded within Impairment of assets and other charges, $46 million within Operating revenues and $20 million within Noncontrolling Interests on the Condensed Consolidated Statements of Operations related to a Duke Energy Indiana Supreme Court ruling. See Note 4 for additional information.
Duke Energy Ohio  
Segment Reporting Information [Line Items]  
Business Segment Data
Three Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherEliminationsTotal
Total revenues$465 $124 $589 $— $— $589 
Segment income (loss)/Net income$54 $18 $72 $(1)$— $71 
Segment assets$7,683 $4,111 $11,794 $10 $(13)$11,791 
Three Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$401 $144 $545 $— $545 
Segment income/Net income$37 $19 $56 $— $56 
Six Months Ended June 30, 2023
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$939 $359 $1,298 $— $1,298 
Segment income (loss)/Net income$103 $70 $173 $(2)$171 
Six Months Ended June 30, 2022
ElectricGasTotal
Utilities andUtilities andReportable
(in millions)InfrastructureInfrastructureSegmentsOtherTotal
Total revenues$813 $370 $1,183 $— $1,183 
Segment income (loss)/Net income$78 $57 $135 $(2)$133 
v3.23.2
Commitments and Contingencies (Tables)
 6 Months Ended
Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Reserves
The following table contains information regarding reserves for probable and estimable costs related to the various environmental sites. These reserves are recorded in Other within Other Noncurrent Liabilities on the Condensed Consolidated Balance Sheets.
(in millions)June 30, 2023December 31, 2022
Reserves for Environmental Remediation
Duke Energy$92 $84 
Duke Energy Carolinas23 22 
Progress Energy23 19 
Duke Energy Progress11 8 
Duke Energy Florida11 11 
Duke Energy Ohio36 33 
Duke Energy Indiana2 3 
Piedmont8 7 
v3.23.2
Debt and Credit Facilities (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments
The following table summarizes significant debt issuances (in millions).
Six Months Ended June 30, 2023
Duke DukeDukeDukeDuke
MaturityInterestDukeEnergyEnergyEnergyEnergyEnergy
Issuance DateDateRateEnergy(Parent)CarolinasProgressOhioIndianaPiedmont
Unsecured Debt
April 2023(a)
April 20264.125 %$1,725 $1,725 $— $— $— $— $— 
June 2023(b)
June 20335.400 %350 — — — — — 350 
First Mortgage Bonds
January 2023(c)
January 20334.950 %900 — 900 — — — — 
January 2023(c)
January 20535.350 %900 — 900 — — — — 
March 2023(d)
March 20335.250 %500 — — 500 — — — 
March 2023(d)
March 20535.350 %500 — — 500 — — — 
March 2023(e)
April 20335.250 %375 — — — 375 — — 
March 2023(e)
April 20535.650 %375 — — — 375 — — 
March 2023(f)
April 20535.400 %500 — — — — 500 — 
June 2023(g)
January 20334.950 %350 — 350 — — — — 
June 2023(g)
January 20545.400 %500 — 500 — — — — 
Total issuances$6,975 $1,725 $2,650 $1,000 $750 $500 $350 
(a)See "Duke Energy (Parent) Convertible Senior Notes" below for additional information.
(b)Proceeds will be used to repay $45 million of maturities due October 2023, to pay down a portion of short-term debt and for general corporate purposes.
(c)Proceeds were used to repay $1 billion of maturities due March 2023, to pay down a portion of short-term debt and for general company purposes.
(d)Proceeds will be used to repay $300 million of maturities due September 2023, to pay down a portion of short-term debt and for general company purposes.
(e)Proceeds will be used to repay $300 million of maturities due September 2023 and a portion of the $100 million term loan due October 2023. Remaining proceeds will be used to repay a portion of short-term debt and for general corporate purposes.
(f)Proceeds were used to repay the $300 million term loan due October 2023. Remaining proceeds will be used to repay a portion of short-term debt and for general company purposes.
(g)Proceeds were used to pay down a portion of short-term debt and for general company purposes.
The following table shows the significant components of Current maturities of long-term debt on the Condensed 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 RateJune 30, 2023
Unsecured Debt
Duke Energy Ohio(a)
October 20235.546 %$150 
Duke Energy (Parent)October 20233.950 %400 
Duke Energy (Parent) Term Loan Facility(a)
March 20245.645 %1,000 
Duke Energy (Parent)April 20243.750 %1,000 
Duke Energy Florida(a)
April 20245.921 %800 
First Mortgage Bonds
Duke Energy ProgressSeptember 20233.375 %300 
Duke Energy OhioSeptember 20233.800 %300 
Other(b)
659 
Current maturities of long-term debt$4,609 
(a)Debt has a floating interest rate.
(b)Includes finance lease obligations, amortizing debt, tax-exempt bonds with mandatory put options and small bullet maturities.
Schedule of Line of Credit Facilities
The table below includes the current borrowing sublimits and available capacity under these credit facilities.
June 30, 2023
DukeDukeDukeDukeDukeDuke
DukeEnergyEnergyEnergyEnergyEnergyEnergy
(in millions)Energy(Parent)CarolinasProgressFloridaOhioIndianaPiedmont
Facility size(a)
$9,000 $2,275 $2,025 $900 $1,350 $700 $950 $800 
Reduction to backstop issuances
Commercial paper(b)
(3,143)(837)(829)(150)(759)(132)(341)(95)
Outstanding letters of credit(39)(27)(4)(1)(7)— — — 
Tax-exempt bonds(81)— — — — — (81)— 
Available capacity under the Master Credit Facility$5,737 $1,411 $1,192 $749 $584 $568 $528 $705 
(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 on the Condensed Consolidated Balance Sheets.
v3.23.2
Related Party Transactions (Tables)
 6 Months Ended
Jun. 30, 2023
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions, Other Revenue and Expense Material amounts related to transactions with related parties included on the Condensed Consolidated Statements of Operations and Comprehensive Income are presented in the following table.
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2023202220232022
Duke Energy Carolinas
Corporate governance and shared service expenses(a)
$192 $191 $388 $397 
Indemnification coverages(b)
8 7 17 14 
Joint Dispatch Agreement (JDA) revenue(c)
8 12 21 38 
JDA expense(c)
34 173 63 267 
Intercompany natural gas purchases(d)
4 5 9 9 
Progress Energy
Corporate governance and shared service expenses(a)
$172 $184 $350 $380 
Indemnification coverages(b)
12 11 24 22 
JDA revenue(c)
34 173 63 267 
JDA expense(c)
8 12 21 38 
Intercompany natural gas purchases(d)
18 19 37 38 
Duke Energy Progress
Corporate governance and shared service expenses(a)
$104 $108 $211 $227 
Indemnification coverages(b)
5 5 10 10 
JDA revenue(c)
34 173 63 267 
JDA expense(c)
8 12 21 38 
Intercompany natural gas purchases(d)
18 19 37 38 
Duke Energy Florida
Corporate governance and shared service expenses(a)
$68 $76 $139 $153 
Indemnification coverages(b)
7 6 14 12 
Duke Energy Ohio
Corporate governance and shared service expenses(a)
$76 $82 $149 $164 
Indemnification coverages(b)
2 1 3 2 
Duke Energy Indiana
Corporate governance and shared service expenses(a)
$84 $91 $183 $215 
Indemnification coverages(b)
2 2 4 4 
Piedmont
Corporate governance and shared service expenses(a)
$37 $37 $75 $72 
Indemnification coverages(b)
1 2 2 3 
Intercompany natural gas sales(d)
22 24 46 47 
Natural gas storage and transportation costs(e)
6 5 12 11 
(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 and Impairment of assets and other charges on the Condensed 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 Condensed 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 Condensed 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 Condensed Consolidated Statements of Operations and Comprehensive Income.
(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle LNG Company, LLC, Hardy Storage Company, LLC and Cardinal Pipeline Company, LLC natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Condensed 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
June 30, 2023
Intercompany income tax receivable$— $— $— $— $2 $— $24 
Intercompany income tax payable89 50 28 95 — 26 — 
December 31, 2022
Intercompany income tax receivable$— $95 $36 $17 $— $— $— 
Intercompany income tax payable37 — — — 17 18 38 
v3.23.2
Derivatives and Hedging (Tables)
 6 Months Ended
Jun. 30, 2023
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.
June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$2,100 $— $— $— $— $— $— 
Undesignated contracts2,027 550 1,250 250 1,000 200 27 
Total notional amount$4,127 $550 $1,250 $250 $1,000 $200 $27 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndianaOhio
Cash flow hedges$500 $— $— $— $— $— $— 
Undesignated contracts2,377 1,250 800 500 300 300 27 
Total notional amount$2,877 $1,250 $800 $500 $300 $300 $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.
June 30, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)28,253 — — — 3,466 24,787 — 
Natural gas (millions of dekatherms)863 290 280 280 — 12 281 
December 31, 2022
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
EnergyCarolinasEnergyProgressOhioIndianaPiedmont
Electricity (GWh)14,086 — — — 1,820 12,266 — 
Natural gas (millions of dekatherms)909 307 292 292 — 11 299 
The following table shows Duke Energy's outstanding derivatives related to foreign currency risk at June 30, 2023.
Fair Value Gain (Loss)(a)
(in millions)
Pay NotionalReceive NotionalReceiveHedgeThree Months Ended June 30,Six Months Ended June 30,
(in millions)Pay Rate(in millions)RateMaturity Date2023202220232022
Fair value hedges
$645 4.75 %600 euros3.10 %June 2028$5 $(16)$10 $(16)
537 5.31 %500 euros3.85 %June 20343 (13)8 (13)
Total notional amount$1,182 1,100 euros$8 $(29)$18 $(29)
(a)    Amounts are recorded in Other Income and expenses, net on the Condensed Consolidated Statement of Operations, which offsets an equal translation adjustment of the foreign denominated debt. See the Condensed 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 Condensed 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 Condensed 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 AssetsJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$75 $16 $18 $12 $6 $4 $37 $1 
Noncurrent93 45 48 48 — — — — 
Total Derivative Assets – Commodity Contracts$168 $61 $66 $60 $6 $4 $37 $1 
Interest Rate Contracts
Designated as Hedging Instruments
Current$107 $— $— $— $— $— $— $— 
Noncurrent12 — — — — — — — 
Not Designated as Hedging Instruments
Current23 — 23 — 23 — — — 
Noncurrent2 1 1 — 1 — — — 
Total Derivative Assets – Interest Rate Contracts$144 $1 $24 $— $24 $— $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Noncurrent10 — — — — — — — 
Total Derivative Assets – Foreign Currency Contracts$10 $— $— $— $— $— $— $— 
Total Derivative Assets$322 $62 $90 $60 $30 $4 $37 $1 
Derivative LiabilitiesJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$235 $121 $86 $86 $— $— $6 $23 
Noncurrent254 62 59 59 — — — 133 
Total Derivative Liabilities – Commodity Contracts$489 $183 $145 $145 $— $— $6 $156 
Interest Rate Contracts
Not Designated as Hedging Instruments
Noncurrent4 — 1 1 — 1 1 — 
Total Derivative Liabilities – Interest Rate Contracts$4 $— $1 $1 $— $1 $1 $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$16 $— $— $— $— $— $— $— 
Total Derivative Liabilities – Foreign Currency Contracts$16 $— $— $— $— $— $— $— 
Total Derivative Liabilities$509 $183 $146 $146 $— $1 $7 $156 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$265 $132 $99 $99 $— $5 $29 $— 
Noncurrent213 104 108 108 — — — — 
Total Derivative Assets – Commodity Contracts$478 $236 $207 $207 $— $5 $29 $— 
Interest Rate Contracts
Designated as Hedging Instruments
Current$101 $— $— $— $— $— $— $— 
Not Designated as Hedging Instruments
Current$216 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets – Interest Rate Contracts$317 $94 $41 $23 $17 $— $81 $— 
Total Derivative Assets$795 $330 $248 $230 $17 $5 $110 $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Commodity Contracts
Not Designated as Hedging Instruments
Current$175 $96 $36 $18 $19 $— $16 $27 
Noncurrent202 31 30 30 — — — 141 
Total Derivative Liabilities – Commodity Contracts$377 $127 $66 $48 $19 $— $16 $168 
Interest Rate Contracts
Not Designated as Hedging Instruments
Noncurrent$2 $— $— $— $— $2 $— $— 
Total Derivative Liabilities – Interest Rate Contracts$2 $— $— $— $— $2 $— $— 
Foreign Currency Contracts
Designated as Hedging Instruments
Current$18 $— $— $— $— $— $— $— 
Noncurrent40 — — — — — — — 
Total Derivative Liabilities – Equity Securities Contracts$58 $— $— $— $— $— $— $— 
Total Derivative Liabilities$437 $127 $66 $48 $19 $2 $16 $168 
Offsetting Assets
The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position and include collateral posted to offset the net position. 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 AssetsJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$205 $16 $41 $12 $29 $4 $37 $1 
Gross amounts offset(23)(13)(10)(10)— — — — 
Net amounts presented in Current Assets: Other$182 $3 $31 $2 $29 $4 $37 $1 
Noncurrent
Gross amounts recognized$117 $46 $49 $48 $1 $— $— $— 
Gross amounts offset(66)(33)(33)(33)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$51 $13 $16 $15 $1 $— $— $— 
Derivative LiabilitiesJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$251 $121 $86 $86 $— $— $6 $23 
Gross amounts offset(42)(24)(12)(12)— — (6)— 
Net amounts presented in Current Liabilities: Other$209 $97 $74 $74 $— $— $— $23 
Noncurrent
Gross amounts recognized$258 $62 $60 $60 $— $1 $1 $133 
Gross amounts offset(80)(43)(37)(37)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$178 $19 $23 $23 $— $1 $1 $133 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$582 $226 $140 $122 $17 $5 $110 $— 
Gross amounts offset(64)(33)(30)(30)— — — — 
Net amounts presented in Current Assets: Other$518 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$213 $104 $108 $108 $— $— $— $— 
Gross amounts offset(97)(40)(57)(57)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$116 $64 $51 $51 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Gross amounts offset(49)(15)(18)(18)— — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Gross amounts offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
Offsetting Liabilities
The following tables present the line items on the Condensed Consolidated Balance Sheets where derivatives are reported. Substantially all of Duke Energy's outstanding derivative contracts are subject to enforceable master netting arrangements. The gross amounts offset in the tables below show the effect of these netting arrangements on financial position and include collateral posted to offset the net position. 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 AssetsJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$205 $16 $41 $12 $29 $4 $37 $1 
Gross amounts offset(23)(13)(10)(10)— — — — 
Net amounts presented in Current Assets: Other$182 $3 $31 $2 $29 $4 $37 $1 
Noncurrent
Gross amounts recognized$117 $46 $49 $48 $1 $— $— $— 
Gross amounts offset(66)(33)(33)(33)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$51 $13 $16 $15 $1 $— $— $— 
Derivative LiabilitiesJune 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$251 $121 $86 $86 $— $— $6 $23 
Gross amounts offset(42)(24)(12)(12)— — (6)— 
Net amounts presented in Current Liabilities: Other$209 $97 $74 $74 $— $— $— $23 
Noncurrent
Gross amounts recognized$258 $62 $60 $60 $— $1 $1 $133 
Gross amounts offset(80)(43)(37)(37)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$178 $19 $23 $23 $— $1 $1 $133 
Derivative AssetsDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$582 $226 $140 $122 $17 $5 $110 $— 
Gross amounts offset(64)(33)(30)(30)— — — — 
Net amounts presented in Current Assets: Other$518 $193 $110 $92 $17 $5 $110 $— 
Noncurrent
Gross amounts recognized$213 $104 $108 $108 $— $— $— $— 
Gross amounts offset(97)(40)(57)(57)— — — — 
Net amounts presented in Other Noncurrent Assets: Other$116 $64 $51 $51 $— $— $— $— 
Derivative LiabilitiesDecember 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Current
Gross amounts recognized$193 $96 $36 $18 $19 $— $16 $27 
Gross amounts offset(49)(15)(18)(18)— — (16)— 
Net amounts presented in Current Liabilities: Other$144 $81 $18 $— $19 $— $— $27 
Noncurrent
Gross amounts recognized$244 $31 $30 $30 $— $2 $— $141 
Gross amounts offset(59)(29)(30)(30)— — — — 
Net amounts presented in Other Noncurrent Liabilities: Other$185 $2 $— $— $— $2 $— $141 
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.
June 30, 2023
DukeDuke
DukeEnergyProgressEnergy
(in millions)EnergyCarolinasEnergyProgress
Aggregate fair value of derivatives in a net liability position$309 $164 $145 $145 
Fair value of collateral already posted28 22 6 6 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered$281 $142 $139 $139 
December 31, 2022
DukeDukeDuke
DukeEnergyProgressEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFlorida
Aggregate fair value of derivatives in a net liability position$141 $86 $55 $48 $7 
Fair value of collateral already posted— — — — — 
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered$141 $86 $55 $48 $7 
v3.23.2
Investments in Debt and Equity Securities (Tables)
 6 Months Ended
Jun. 30, 2023
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $142 $— $— $215 
Equity securities4,483 34 6,836 3,658 105 5,871 
Corporate debt securities2 67 619 1 85 641 
Municipal bonds— 27 324 — 39 330 
U.S. government bonds1 92 1,495 2 112 1,423 
Other debt securities— 17 155 — 18 156 
Total NDTF Investments$4,486 $237 $9,571 $3,661 $359 $8,636 
Other Investments
Cash and cash equivalents$— $— $89 $— $— $22 
Equity securities29 6 146 21 16 128 
Corporate debt securities— 10 84 — 12 84 
Municipal bonds— 2 80 — 3 78 
U.S. government bonds— 1 48 — 2 62 
Other debt securities— 3 53 — 3 41 
Total Other Investments$29 $22 $500 $21 $36 $415 
Total Investments$4,515 $259 $10,071 $3,682 $395 $9,051 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $142 $— $— $215 
Equity securities4,483 34 6,836 3,658 105 5,871 
Corporate debt securities2 67 619 1 85 641 
Municipal bonds— 27 324 — 39 330 
U.S. government bonds1 92 1,495 2 112 1,423 
Other debt securities— 17 155 — 18 156 
Total NDTF Investments$4,486 $237 $9,571 $3,661 $359 $8,636 
Other Investments
Cash and cash equivalents$— $— $89 $— $— $22 
Equity securities29 6 146 21 16 128 
Corporate debt securities— 10 84 — 12 84 
Municipal bonds— 2 80 — 3 78 
U.S. government bonds— 1 48 — 2 62 
Other debt securities— 3 53 — 3 41 
Total Other Investments$29 $22 $500 $21 $36 $415 
Total Investments$4,515 $259 $10,071 $3,682 $395 $9,051 
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 three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains $20 $34 $46 $145 
 Realized losses36 101 82 186 
AFS:
 Realized gains13 11 21 15 
 Realized losses27 42 59 65 
Investments Classified by Contractual Maturity Date
The table below summarizes the maturity date for debt securities.
June 30, 2023
DukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaIndiana
Due in one year or less$142 $7 $121 $25 $96 $5 
Due after one through five years699 227 394 225 169 22 
Due after five through 10 years550 298 208 194 14 11 
Due after 10 years1,467 802 561 524 37 24 
Total$2,858 $1,334 $1,284 $968 $316 $62 
Duke Energy Carolinas  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $53 $— $— $117 
Equity securities2,630 19 3,945 2,147 51 3,367 
Corporate debt securities1 49 393 1 62 401 
Municipal bonds— 5 52 — 10 64 
U.S. government bonds— 45 738 1 51 685 
Other debt securities— 17 151 — 18 148 
Total NDTF Investments$2,631 $135 $5,332 $2,149 $192 $4,782 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $53 $— $— $117 
Equity securities2,630 19 3,945 2,147 51 3,367 
Corporate debt securities1 49 393 1 62 401 
Municipal bonds— 5 52 — 10 64 
U.S. government bonds— 45 738 1 51 685 
Other debt securities— 17 151 — 18 148 
Total NDTF Investments$2,631 $135 $5,332 $2,149 $192 $4,782 
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 three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains$9 $18 $27 $93 
 Realized losses 18 55 47 104 
AFS:
 Realized gains4 9 9 12 
 Realized losses8 21 28 37 
Progress Energy  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $89 $— $— $98 
Equity securities1,853 15 2,891 1,511 54 2,504 
Corporate debt securities1 18 226 — 23 240 
Municipal bonds— 22 272 — 29 266 
U.S. government bonds1 47 757 1 61 738 
Other debt securities— — 4 — — 8 
Total NDTF Investments$1,855 $102 $4,239 $1,512 $167 $3,854 
Other Investments
Cash and cash equivalents$— $— $8 $— $— $11 
Municipal bonds— — 25 — — 25 
Total Other Investments$— $— $33 $— $— $36 
Total Investments$1,855 $102 $4,272 $1,512 $167 $3,890 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $89 $— $— $98 
Equity securities1,853 15 2,891 1,511 54 2,504 
Corporate debt securities1 18 226 — 23 240 
Municipal bonds— 22 272 — 29 266 
U.S. government bonds1 47 757 1 61 738 
Other debt securities— — 4 — — 8 
Total NDTF Investments$1,855 $102 $4,239 $1,512 $167 $3,854 
Other Investments
Cash and cash equivalents$— $— $8 $— $— $11 
Municipal bonds— — 25 — — 25 
Total Other Investments$— $— $33 $— $— $36 
Total Investments$1,855 $102 $4,272 $1,512 $167 $3,890 
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 three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains$11 $16 $19 $52 
 Realized losses18 46 35 82 
AFS:
 Realized gains9 2 12 3 
 Realized losses19 17 31 23 
Duke Energy Progress  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $77 $— $— $56 
Equity securities1,758 15 2,783 1,431 54 2,411 
Corporate debt securities1 17 216 — 22 230 
Municipal bonds— 22 272 — 29 266 
U.S. government bonds1 27 476 1 37 460 
Other debt securities— — 4 — — 7 
Total NDTF Investments$1,760 $81 $3,828 $1,432 $142 $3,430 
Other Investments
Cash and cash equivalents$— $— $5 $— $— $9 
Total Other Investments$— $— $5 $— $— $9 
Total Investments$1,760 $81 $3,833 $1,432 $142 $3,439 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $77 $— $— $56 
Equity securities1,758 15 2,783 1,431 54 2,411 
Corporate debt securities1 17 216 — 22 230 
Municipal bonds— 22 272 — 29 266 
U.S. government bonds1 27 476 1 37 460 
Other debt securities— — 4 — — 7 
Total NDTF Investments$1,760 $81 $3,828 $1,432 $142 $3,430 
Other Investments
Cash and cash equivalents$— $— $5 $— $— $9 
Total Other Investments$— $— $5 $— $— $9 
Total Investments$1,760 $81 $3,833 $1,432 $142 $3,439 
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 three and six months ended June 30, 2023, and 2022, were as follows.
Three Months EndedSix Months Ended
(in millions)June 30, 2023June 30, 2022June 30, 2023June 30, 2022
FV-NI:
 Realized gains$11 $15 $19 $51 
 Realized losses17 45 34 80 
AFS:
 Realized gains8 2 11 3 
 Realized losses17 15 29 20 
Duke Energy Florida  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $12 $— $— $42 
Equity securities95 — 108 80 — 93 
Corporate debt securities— 1 10 — 1 10 
U.S. government bonds— 20 281 — 24 278 
Other debt securities— — — — — 1 
Total NDTF Investments(a)
$95 $21 $411 $80 $25 $424 
Other Investments
Cash and cash equivalents$— $— $2 $— $— $1 
Municipal bonds— — 25 — — 25 
Total Other Investments$— $— $27 $— $— $26 
Total Investments$95 $21 $438 $80 $25 $450 
(a)During the six months ended June 30, 2023, and the year ended December 31, 2022, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are classified as FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
NDTF
Cash and cash equivalents$— $— $12 $— $— $42 
Equity securities95 — 108 80 — 93 
Corporate debt securities— 1 10 — 1 10 
U.S. government bonds— 20 281 — 24 278 
Other debt securities— — — — — 1 
Total NDTF Investments(a)
$95 $21 $411 $80 $25 $424 
Other Investments
Cash and cash equivalents$— $— $2 $— $— $1 
Municipal bonds— — 25 — — 25 
Total Other Investments$— $— $27 $— $— $26 
Total Investments$95 $21 $438 $80 $25 $450 
(a)During the six months ended June 30, 2023, and the year ended December 31, 2022, Duke Energy Florida received reimbursements from the NDTF for costs related to ongoing decommissioning activity of Crystal River Unit 3.
Duke Energy Indiana  
Debt Securities, Available-for-sale [Line Items]  
Debt Securities, Trading, and Equity Securities, FV-NI
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
Investments
Cash and cash equivalents$— $— $— $— $— $1 
Equity securities4 6 91 2 16 79 
Corporate debt securities— — 9 — 1 8 
Municipal bonds— 2 47 — 3 45 
U.S. government bonds— — 6 — — 7 
Total Investments$4 $8 $153 $2 $20 $140 
Debt Securities, Available-for-sale
The following table presents the estimated fair value of investments in debt and equity securities; equity investments are measured at FV-NI and debt investments are classified as AFS.
June 30, 2023December 31, 2022
GrossGrossGrossGross
UnrealizedUnrealizedEstimatedUnrealizedUnrealizedEstimated
HoldingHoldingFairHoldingHoldingFair
(in millions)GainsLossesValueGainsLossesValue
Investments
Cash and cash equivalents$— $— $— $— $— $1 
Equity securities4 6 91 2 16 79 
Corporate debt securities— — 9 — 1 8 
Municipal bonds— 2 47 — 3 45 
U.S. government bonds— — 6 — — 7 
Total Investments$4 $8 $153 $2 $20 $140 
v3.23.2
Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2023
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 Condensed Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 9. See Note 10 for additional information related to investments by major security type for the Duke Energy Registrants.
June 30, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$142 $142 $— $— $— 
NDTF equity securities6,836 6,795 — — 41 
NDTF debt securities2,593 804 1,789 — — 
Other equity securities146 146 — — — 
Other debt securities265 46 219 — — 
Other cash and cash equivalents89 89 — — — 
Derivative assets322 1 280 41 — 
Total assets10,393 8,023 2,288 41 41 
Derivative liabilities(509)(5)(504)— — 
Net assets$9,884 $8,018 $1,784 $41 $41 
December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$215 $215 $— $— $— 
NDTF equity securities5,871 5,829 — — 42 
NDTF debt securities2,550 780 1,770 — — 
Other equity securities128 128 — — — 
Other debt securities265 55 210 — — 
Other cash and cash equivalents22 22 — — — 
Derivative assets795 1 760 34 — 
Total assets9,846 7,030 2,740 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets$9,409 $7,014 $2,319 $34 $42 
Reconciliation of Assets and Liabilities Measured At Fair Value on 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)
Three Months Ended June 30,Six Months Ended June 30,
(in millions) 2023202220232022
Balance at beginning of period$12 $10 $34 $24 
Purchases, sales, issuances and settlements:
Purchases47 77 47 77 
Settlements(38)15 (58)8 
Total gains (losses) included on the Condensed Consolidated Balance Sheet20 (13)18 (20)
Balance at end of period$41 $89 $41 $89 
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
June 30, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio 
FTRs$4 RTO auction pricingFTR price – per MWh$(0.19)-$2.71 $0.83 
Duke Energy Indiana 
FTRs37 RTO auction pricingFTR price – per MWh(1.64)-12.51 1.90 
Duke Energy
Total Level 3 derivatives$41 
December 31, 2022
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio   
FTRs$5 RTO auction pricingFTR price – per MWh$0.89 -$6.25 $3.35 
Duke Energy Indiana   
FTRs29 RTO auction pricingFTR price – per MWh0.09 -21.79 2.74 
Duke Energy
Total Level 3 derivatives$34 
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. Debt related to the Commercial Renewables Disposal Groups is now classified as held for sale and is excluded from the following disclosures. See Note 2 for further information. 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.
June 30, 2023December 31, 2022
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$74,523 $67,125 $69,751 $61,986 
Duke Energy Carolinas15,966 14,693 14,266 12,943 
Progress Energy23,439 21,546 22,439 20,467 
Duke Energy Progress12,041 10,660 11,087 9,689 
Duke Energy Florida9,755 9,106 9,709 8,991 
Duke Energy Ohio3,991 3,705 3,245 2,927 
Duke Energy Indiana4,503 4,148 4,307 3,913 
Piedmont3,712 3,272 3,363 2,940 
(a)Book value of long-term debt includes $1.13 billion and $1.17 billion at June 30, 2023, and December 31, 2022, respectively, of net unamortized debt discount and premium of 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 Condensed Consolidated Balance Sheets.
June 30, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$53 $53 $— $— 
NDTF equity securities3,945 3,904 — 41 
NDTF debt securities1,334 336 998 — 
Derivative assets62 — 62 — 
Total assets5,394 4,293 1,060 41 
Derivative liabilities(183)— (183)— 
Net assets$5,211 $4,293 $877 $41 
December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$117 $117 $— $— 
NDTF equity securities3,367 3,325 — 42 
NDTF debt securities1,298 323 975 — 
Derivative assets330 — 330 — 
Total assets5,112 3,765 1,305 42 
Derivative liabilities(127)— (127)— 
Net assets$4,985 $3,765 $1,178 $42 
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 Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$89 $89 $— $98 $98 $— 
NDTF equity securities2,891 2,891 — 2,504 2,504 — 
NDTF debt securities1,259 468 791 1,252 457 795 
Other debt securities25 — 25 25 — 25 
Other cash and cash equivalents8 8 — 11 11 — 
Derivative assets90 — 90 248 — 248 
Total assets4,362 3,456 906 4,138 3,070 1,068 
Derivative liabilities(146)— (146)(66)— (66)
Net assets$4,216 $3,456 $760 $4,072 $3,070 $1,002 
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 Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$77 $77 $— $56 $56 $— 
NDTF equity securities2,783 2,783 — 2,411 2,411 — 
NDTF debt securities968 234 734 963 225 738 
Other cash and cash equivalents5 5 — 9 9 — 
Derivative assets60 — 60 230 — 230 
Total assets3,893 3,099 794 3,669 2,701 968 
Derivative liabilities(146)— (146)(48)— (48)
Net assets$3,747 $3,099 $648 $3,621 $2,701 $920 
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 Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$12 $12 $— $42 $42 $— 
NDTF equity securities108 108 — 93 93 — 
NDTF debt securities291 234 57 289 232 57 
Other debt securities25 — 25 25 — 25 
Other cash and cash equivalents2 2 — 1 1 — 
Derivative assets30 — 30 17 — 17 
Total assets468 356 112 467 368 99 
Derivative liabilities— — — (19)— (19)
Net assets$468 $356 $112 $448 $368 $80 
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 Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$91 $91 $— $— $79 $79 $— $— 
Other debt securities62 — 62 — 60 — 60 — 
Other cash and cash equivalents— — — — 1 1 — — 
Derivative assets37 — — 37 110 — 81 29 
Total assets190 91 62 37 250 80 141 29 
Derivative liabilities(7)(6)(1)— (16)(16)— — 
Net assets$183 $85 $61 $37 $234 $64 $141 $29 
Reconciliation of Assets and Liabilities Measured At Fair Value on 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)
Three Months Ended June 30,Six Months Ended June 30,
(in millions)2023202220232022
Balance at beginning of period$11 $10 $29 $22 
Purchases, sales, issuances and settlements:
Purchases42 74 42 74 
Settlements(37)16 (56)10 
Total gains (losses) included on the Condensed Consolidated Balance Sheet21 (16)22 (22)
Balance at end of period$37 $84 $37 $84 
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 Condensed Consolidated Balance Sheets.
June 30, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $— $— $— 
Derivative liabilities(156)— (156)(168)— (168)
Net (liabilities) assets$(155)$1 $(156)$(168)$— $(168)
v3.23.2
Variable Interest Entities (Tables)
 6 Months Ended
Jun. 30, 2023
VIE primary beneficiary  
Variable Interest Entities [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 dateFebruary 2025January 2025April 2025April 2024
Credit facility amount$350 $500 $400 $325 
Amounts borrowed at June 30, 2023323 488 400 325 
Amounts borrowed at December 31, 2022350 471 400 250 
Restricted Receivables at June 30, 2023645 855 694 613 
Restricted Receivables at December 31, 2022917 928 793 490 
VIE not primary beneficiary  
Variable Interest Entities [Line Items]  
Schedule of Variable Interest Entities
The following tables summarize the impact of non-consolidated VIEs on the Condensed Consolidated Balance Sheets.
June 30, 2023
Duke EnergyDuke Duke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $131 $183 
Investments in equity method unconsolidated affiliates58 — — 
Other noncurrent assets46 — — 
Total assets$104 $131 $183 
Other current liabilities23 — — 
Other noncurrent liabilities49 — — 
Total liabilities$72 $— $— 
Net assets$32 $131 $183 
December 31, 2022
Duke EnergyDuke Duke
Natural GasEnergyEnergy
(in millions)InvestmentsOhioIndiana
Receivables from affiliated companies$— $198 $317 
Investments in equity method unconsolidated affiliates43 — — 
Other noncurrent assets45 — — 
Total assets$88 $198 $317 
Other current liabilities59 — — 
Other noncurrent liabilities47 — — 
Total liabilities$106 $— $— 
Net (liabilities) assets$(18)$198 $317 
DEFPF | VIE primary beneficiary  
Variable Interest Entities [Line Items]  
Schedule of Variable Interest Entities
The following table summarizes the impact of DEFPF on Duke Energy Florida's Condensed Consolidated Balance Sheets.
(in millions)June 30, 2023December 31, 2022
Receivables of VIEs$5 $6 
Regulatory Assets: Current56 55 
Current Assets: Other36 41 
Other Noncurrent Assets: Regulatory assets803 826 
Current Liabilities: Other9 9 
Current maturities of long-term debt57 56 
Long-Term Debt859 890 
DECNCSF and DEPNCSF | VIE primary beneficiary  
Variable Interest Entities [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.
June 30, 2023December 31, 2022
Duke EnergyDuke EnergyDuke EnergyDuke Energy
(in millions)CarolinasProgressCarolinasProgress
Regulatory Assets: Current$12 $39 $12 $39 
Current Assets: Other8 25 8 29 
Other Noncurrent Assets: Regulatory assets202 662 208 681 
Other Noncurrent Assets: Other1 4 1 2 
Current Liabilities: Other3 8 3 8 
Current maturities of long-term debt10 34 10 34 
Long-Term Debt214 697 219 714 
CRC | VIE not primary beneficiary  
Variable Interest Entities [Line Items]  
Schedule of Variable Interest Entities
The following table shows the gross and net receivables sold.
Duke Energy OhioDuke Energy Indiana
(in millions)June 30, 2023December 31, 2022June 30, 2023December 31, 2022
Receivables sold$354 $423 $333 $508 
Less: Retained interests131 198 183 317 
Net receivables sold$223 $225 $150 $191 
The following table shows sales and cash flows related to receivables sold.
Duke Energy OhioDuke Energy Indiana
Six Months EndedSix Months Ended
June 30,June 30,
(in millions)2023202220232022
Sales
Receivables sold$1,381 $1,247 $1,665 $1,617 
Loss recognized on sale17 7 19 6 
Cash flows
Cash proceeds from receivables sold$1,445 $1,188 $1,793 $1,484 
Collection fees received1 1 1 1 
Return received on retained interests10 3 13 4 
v3.23.2
Revenue (Tables)
 6 Months Ended
Jun. 30, 2023
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)20232024202520262027ThereafterTotal
Progress Energy$31 $66 $7 $7 $7 $36 $154 
Duke Energy Progress4 8 — — — — 12 
Duke Energy Florida27 58 7 7 7 36 142 
Duke Energy Indiana8 16 17 15 7 5 68 
Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20232024202520262027ThereafterTotal
Piedmont$33 $62 $61 $51 $49 $241 $497 
Disaggregation of Revenue
Disaggregated revenues are presented as follows:
Three Months Ended June 30, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,740 $715 $1,555 $539 $1,016 $208 $262 $— 
   General1,876 607 914 369 545 141 212 — 
   Industrial827 320 274 180 94 56 177 — 
   Wholesale498 126 294 259 35 12 66 — 
   Other revenues189 49 144 70 74 22 32 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$6,130 $1,817 $3,181 $1,417 $1,764 $439 $749 $— 
Gas Utilities and Infrastructure
   Residential$179 $— $— $— $— $82 $— $97 
   Commercial100 — — — — 31 — 69 
   Industrial30 — — — — 6 — 24 
   Power Generation— — — — — — — 23 
   Other revenues25 — — — — 5 — 5 
Total Gas Utilities and Infrastructure revenue from contracts with customers$334 $— $— $— $— $124 $— $218 
Other
Revenue from contracts with customers$9 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$6,473 $1,817 $3,181 $1,417 $1,764 $563 $749 $218 
Other revenue sources(a)
$105 $11 $31 $8 $18 $26 $31 $18 
Total revenues$6,578 $1,828 $3,212 $1,425 $1,782 $589 $780 $236 
Three Months Ended June 30, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,625 $736 $1,400 $530 $870 $196 $296 $— 
   General1,817 566 889 370 519 111 251 — 
   Industrial824 296 274 184 90 33 220 — 
   Wholesale629 103 389 281 108 35 102 — 
   Other revenues202 92 247 210 37 20 23 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$6,097 $1,793 $3,199 $1,575 $1,624 $395 $892 $— 
Gas Utilities and Infrastructure
   Residential$197 $— $— $— $— $94 $— $103 
   Commercial127 — — — — 38 — 90 
   Industrial34 — — — — 6 — 28 
   Power Generation— — — — — — — 23 
   Other revenues66 — — — — 6 — 44 
Total Gas Utilities and Infrastructure revenue from contracts with customers$424 $— $— $— $— $144 $— $288 
Other
Revenue from contracts with customers$8 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$6,529 $1,793 $3,199 $1,575 $1,624 $539 $892 $288 
Other revenue sources(a)
$35 $(12)$15 $6 $4 $6 $26 $22 
Total revenues$6,564 $1,781 $3,214 $1,581 $1,628 $545 $918 $310 
(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.
Six Months Ended June 30, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$5,591 $1,539 $2,976 $1,146 $1,830 $442 $634 $— 
   General3,707 1,195 1,755 727 1,028 276 482 — 
   Industrial1,718 616 546 357 189 127 428 — 
   Wholesale1,048 261 642 578 64 21 124 — 
   Other revenues333 127 265 138 127 49 47 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$12,397 $3,738 $6,184 $2,946 $3,238 $915 $1,715 $— 
Gas Utilities and Infrastructure
   Residential$686 $— $— $— $— $244 $— $442 
   Commercial333 — — — — 89 — 244 
   Industrial77 — — — — 15 — 61 
   Power Generation— — — — — — — 46 
   Other revenues65 — — — — 11 — 24 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,161 $— $— $— $— $359 $— $817 
Other
Revenue from contracts with customers$16 $— $— $— $— $— $— $— 
Total Revenue from contracts with customers$13,574 $3,738 $6,184 $2,946 $3,238 $1,274 $1,715 $817 
Other revenue sources(a)
$280 $24 $76 $12 $54 $24 $40 $94 
Total revenues$13,854 $3,762 $6,260 $2,958 $3,292 $1,298 $1,755 $911 
(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.
Six Months Ended June 30, 2022
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$5,392 $1,567 $2,768 $1,154 $1,614 $407 $650 $— 
   General3,421 1,110 1,615 695 920 227 469 — 
   Industrial1,596 572 544 378 166 68 412 — 
   Wholesale1,255 216 800 630 170 58 181 — 
   Other revenues404 203 458 349 109 41 (13)— 
Total Electric Utilities and Infrastructure revenue from contracts with customers$12,068 $3,668 $6,185 $3,206 $2,979 $801 $1,699 $— 
Gas Utilities and Infrastructure
   Residential$769 $— $— $— $— $243 $— $526 
   Commercial396 — — — — 102 — 294 
   Industrial91 — — — — 13 — 78 
   Power Generation— — — — — — — 47 
   Other revenues181 — — — — 12 — 137 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,437 $— $— $— $— $370 $— $1,082 
Other
Revenue from contracts with customers$15 $— $— $— $— $— $— $— 
Total Revenue from contracts with customers$13,520 $3,668 $6,185 $3,206 $2,979 $1,171 $1,699 $1,082 
Other revenue sources(a)
$55 $1 $21 $7 $4 $12 $41 $33 
Total revenues$13,575 $3,669 $6,206 $3,213 $2,983 $1,183 $1,740 $1,115 
(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.
Reserve for Credit Losses for Trade and Other Receivables
The following table presents the reserve for credit losses for trade and other receivables.
Three Months Ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at March 31, 2022$139 $52 $51 $31 $21 $4 $3 $17 
Write-Offs(31)(16)(9)(5)(5)— — (5)
Credit Loss Expense20 8 7 2 5 — — 3 
Other Adjustments7 8 3 3 — — — — 
Balance at June 30, 2022$135 $52 $52 $31 $21 $4 $3 $15 
Balance at March 31, 2023$214 $70 $75 $45 $30 $7 $4 $14 
Write-Offs(43)(20)(18)(10)(8)— — (5)
Credit Loss Expense23 6 12 4 8 1 — 4 
Other Adjustments5 1 4 4 — — — — 
Balance at June 30, 2023$199 $57 $73 $43 $30 $8 $4 $13 
Six Months Ended June 30, 2022 and 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2021$121 $42 $36 $21 $16 $4 $3 $15 
Write-Offs(54)(25)(19)(7)(13)— — (6)
Credit Loss Expense44 13 19 6 13 — — 6 
Other Adjustments24 22 16 11 5 — — — 
Balance at June 30, 2022$135 $52 $52 $31 $21 $4 $3 $15 
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(85)(40)(40)(19)(20)— — (6)
Credit Loss Expense39 13 18 5 13 2 — 5 
Other Adjustments29 16 14 13 1 — — — 
Balance at June 30, 2023$199 $57 $73 $43 $30 $8 $4 $13 
Aging of Trade Receivables
The aging of trade receivables is presented in the table below.
June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$1,123 $441 $354 $215 $139 $3 $26 $5 
Current2,148 593 1,022 535 485 27 104 102 
1-31 days past due244 58 124 51 73 3 15 8 
31-61 days past due108 25 48 37 11 5 9 5 
61-91 days past due41 9 11 5 6 2 8 4 
91+ days past due251 74 69 22 47 54 20 5 
Deferred Payment Arrangements(c)
112 36 46 30 16 3 — 1 
Trade and Other Receivables$4,027 $1,236 $1,674 $895 $777 $97 $182 $130 
December 31, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$1,457 $486 $355 $232 $123 $20 $28 $160 
Current2,347 577 1,059 637 417 15 52 265 
1-31 days past due261 96 60 15 45 5 17 15 
31-61 days past due123 23 61 49 12 6 2 3 
61-91 days past due74 25 18 9 9 3 11 2 
91+ days past due209 70 74 27 47 26 6 4 
Deferred Payment Arrangements(c)
160 57 62 35 27 4 — 1 
Trade and Other Receivables$4,631 $1,334 $1,689 $1,004 $680 $79 $116 $450 
(a)Unbilled revenues are recognized by applying customer billing rates to the estimated volumes of energy or natural gas delivered but not yet billed and are included within Receivables and Receivables of VIEs on the Condensed Consolidated Balance Sheets.
(b)Duke Energy Ohio and Duke Energy Indiana sell, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and account for the transfers of receivables as sales. Accordingly, the receivables sold are not reflected on the Condensed Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. See Note 12 for further information. These receivables for unbilled revenues are $122 million and $172 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of June 30, 2023, and $148 million and $260 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2022.
(c)Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
v3.23.2
Stockholders' Equity (Tables)
 6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Schedule of Earnings Per Share
The following table presents Duke Energy’s basic and diluted EPS calculations, the weighted average number of common shares outstanding and common and preferred share dividends declared.
Three Months Ended June 30,Six Months Ended June 30,
(in millions, except per share amounts)2023202220232022
Net (Loss) Income available to Duke Energy common stockholders$(234)$893 $531 $1,711 
Less: (Loss) Income from discontinued operations attributable to Duke Energy common stockholders(948)27 (1,093)39 
Accumulated preferred stock dividends adjustment(12)(12)— — 
Less: Impact of participating securities1 — 2 1 
Income from continuing operations available to Duke Energy common stockholders$701 $854 $1,622 $1,671 
Loss from discontinued operations, net of tax$(955)$(18)$(1,164)$(33)
Add: Loss attributable to NCI7 45 7172 
(Loss) Income from discontinued operations attributable to Duke Energy common stockholders$(948)$27 $(1,093)$39 
Weighted average common shares outstanding – basic and diluted771 770 770 770 
EPS from continuing operations available to Duke Energy common stockholders
Basic and diluted(a)
$0.91 $1.11 $2.10 $2.17 
(Loss) Earnings Per Share from discontinued operations attributable to Duke Energy common stockholders
   Basic and diluted(a)
$(1.23)$0.03 $(1.41)$0.05 
Potentially dilutive items excluded from the calculation(b)
2 2 2 2 
Dividends declared per common share$1.005 $0.985 $2.010 $1.970 
Dividends declared on Series A preferred stock per depositary share(c)
$0.359 $0.359 $0.719 $0.719 
Dividends declared on Series B preferred stock per share(d)
$— $— $24.375 $24.375 
(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 are payable semiannually in arrears on the 16th day of March and September. The preferred stock has a $1,000 liquidation preference per share.
v3.23.2
Employee Benefit Plans (Tables)
 6 Months Ended
Jun. 30, 2023
Qualified Pension Plans  
Defined Benefit Plan Disclosure [Line Items]  
Components of Net Periodic Pension Costs
The following tables include the components of net periodic pension costs for qualified pension plans.
Three Months Ended June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$29 $9 $7 $5 $4 $— $2 $1 
Interest cost on projected benefit obligation86 21 27 13 15 5 7 3 
Expected return on plan assets(147)(40)(49)(23)(26)(6)(10)(5)
Amortization of actuarial loss3 1 1 1 — — — — 
Amortization of prior service credit(4)— — — — — (1)(2)
Amortization of settlement charges4 2 1 1 1 — 1 1 
Net periodic pension costs$(29)$(7)$(13)$(3)$(6)$(1)$(1)$(2)
Three Months Ended June 30, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$41 $14 $11 $7 $6 $1 $2 $2 
Interest cost on projected benefit obligation59 13 18 8 10 3 5 2 
Expected return on plan assets(141)(38)(47)(22)(24)(6)(10)(6)
Amortization of actuarial loss23 5 7 4 3 1 3 1 
Amortization of prior service credit(4)(1)— — — — (1)(2)
Amortization of settlement charges2 2 — 1 — — — — 
Net periodic pension costs$(20)$(5)$(11)$(2)$(5)$(1)$(1)$(3)
Six Months Ended June 30, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$59 $19 $16 $10 $7 $1 $3 $2 
Interest cost on projected benefit obligation172 42 54 25 29 9 14 5 
Expected return on plan assets(294)(80)(99)(46)(52)(12)(20)(10)
Amortization of actuarial loss5 1 2 1 1 — 1 — 
Amortization of prior service credit(7)— — — — — (1)(4)
Amortization of settlement charges9 4 2 2 1 — 1 2 
Net periodic pension costs$(56)$(14)$(25)$(8)$(14)$(2)$(2)$(5)
Six Months Ended June 30, 2022
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Service cost$81 $26 $23 $14 $10 $2 $4 $3 
Interest cost on projected benefit obligation117 27 36 16 20 6 10 4 
Expected return on plan assets(281)(76)(93)(44)(48)(11)(19)(12)
Amortization of actuarial loss47 10 13 7 6 2 5 3 
Amortization of prior service credit(9)(2)— — — — (1)(4)
Amortization of settlement charges4 3 1 1 — — — — 
Net periodic pension costs$(41)$(12)$(20)$(6)$(12)$(1)$(1)$(6)
v3.23.2
Income Taxes (Tables)
 6 Months Ended
Jun. 30, 2023
Income Tax Disclosure [Abstract]  
Summary of Effective Tax Rates
The ETRs from continuing operations for each of the Duke Energy Registrants are included in the following table.
Three Months EndedSix Months Ended
June 30,June 30,
2023202220232022
Duke Energy13.7 %11.3 %13.7 %7.4 %
Duke Energy Carolinas10.6 %7.3 %11.0 %7.4 %
Progress Energy16.7 %16.8 %16.7 %16.4 %
Duke Energy Progress14.1 %13.8 %14.4 %13.9 %
Duke Energy Florida19.9 %20.2 %19.9 %20.1 %
Duke Energy Ohio15.5 %13.8 %16.2 %(54.7)%
Duke Energy Indiana17.4 %8.6 %17.3 %(48.9)%
Piedmont25.0 %85.7 %17.8 %11.3 %
v3.23.2
Organization and Basis of Presentation (Schedule of Cash and Cash Equivalents) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Jun. 30, 2022
Dec. 31, 2021
Current Assets        
Cash and cash equivalents   $ 409    
Other Noncurrent Assets        
Total cash, cash equivalents and restricted cash $ 567 603 $ 639 $ 520
Duke Energy (Parent)        
Current Assets        
Cash and cash equivalents 377 409    
Other 73 82    
Other Noncurrent Assets        
Other 11 11    
Total cash, cash equivalents and restricted cash 461 502    
Duke Energy Carolinas        
Current Assets        
Cash and cash equivalents 20 44    
Other 8 8    
Other Noncurrent Assets        
Other 1 1    
Total cash, cash equivalents and restricted cash 29 53 47 8
Progress Energy        
Current Assets        
Cash and cash equivalents 77 108    
Other 65 74    
Other Noncurrent Assets        
Other 4 2    
Total cash, cash equivalents and restricted cash 146 184 192 113
Duke Energy Progress        
Current Assets        
Cash and cash equivalents 21 49    
Other 25 28    
Other Noncurrent Assets        
Other 4 2    
Total cash, cash equivalents and restricted cash 50 79 105 39
Duke Energy Florida        
Current Assets        
Cash and cash equivalents 37 45    
Other 36 41    
Other Noncurrent Assets        
Total cash, cash equivalents and restricted cash $ 73 $ 86 $ 77 $ 62
v3.23.2
Organization and Basis of Presentation (Schedule of Inventory) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Public Utilities, Inventory [Line Items]    
Inventory $ 4,100 $ 3,584
Duke Energy Carolinas    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,012 876
Coal 345 253
Natural gas, oil and other fuel 46 35
Inventory 1,403 1,164
Progress Energy    
Public Utilities, Inventory [Line Items]    
Materials and supplies 1,359 1,232
Coal 251 190
Natural gas, oil and other fuel 207 157
Inventory 1,817 1,579
Duke Energy Progress    
Public Utilities, Inventory [Line Items]    
Materials and supplies 905 819
Coal 149 99
Natural gas, oil and other fuel 110 88
Inventory 1,164 1,006
Duke Energy Florida    
Public Utilities, Inventory [Line Items]    
Materials and supplies 454 413
Coal 102 91
Natural gas, oil and other fuel 97 69
Inventory 653 573
Duke Energy Ohio    
Public Utilities, Inventory [Line Items]    
Materials and supplies 131 105
Coal 35 34
Natural gas, oil and other fuel 12 5
Inventory 178 144
Duke Energy Indiana    
Public Utilities, Inventory [Line Items]    
Materials and supplies 372 342
Coal 219 144
Natural gas, oil and other fuel 2 3
Inventory 593 489
Piedmont    
Public Utilities, Inventory [Line Items]    
Materials and supplies 14 12
Natural gas, oil and other fuel 59 160
Inventory 73 172
Duke Energy (Parent)    
Public Utilities, Inventory [Line Items]    
Materials and supplies 2,924 2,604
Coal 850 620
Natural gas, oil and other fuel 326 360
Inventory $ 4,100 $ 3,584
v3.23.2
Organization and Basis of Presentation (Other Noncurrent Assets) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
May 30, 2022
Regulatory Asset [Line Items]      
Other $ 3,444 $ 3,400  
Offshore Wind Arrangement      
Regulatory Asset [Line Items]      
Other     $ 150
v3.23.2
Organization and Basis of Presentation (Confirmed Obligations) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Duke Energy (Parent)        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period $ 52 $ 19 $ 87 $ 19
Invoices confirmed during the period 55 64 114 95
Confirmed invoices paid during the period (67) (37) (161) (68)
Confirmed obligations at end of period 40 46 40 46
Duke Energy Carolinas        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period 7 1 6  
Invoices confirmed during the period 10 12 20 14
Confirmed invoices paid during the period (12) (4) (21) (5)
Confirmed obligations at end of period 5 9 5 9
Progress Energy        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period 15 9 19 9
Invoices confirmed during the period 20 20 42 31
Confirmed invoices paid during the period (21) (18) (47) (29)
Confirmed obligations at end of period 14 11 14 11
Duke Energy Progress        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period 6 1 8  
Invoices confirmed during the period 12 8 23 10
Confirmed invoices paid during the period (6) (6) (19) (7)
Confirmed obligations at end of period 12 3 12 3
Duke Energy Florida        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period 9 8 11 9
Invoices confirmed during the period 8 12 19 21
Confirmed invoices paid during the period (15) (12) (28) (22)
Confirmed obligations at end of period 2 8 2 8
Duke Energy Ohio        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period   4 5 6
Invoices confirmed during the period 2 9 3 15
Confirmed invoices paid during the period   (4) (6) (12)
Confirmed obligations at end of period 2 9 2 9
Duke Energy Indiana        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period   1    
Invoices confirmed during the period   (1)   1
Confirmed invoices paid during the period       (1)
Piedmont        
Contractual Obligations [Roll Forward]        
Confirmed obligations at beginning of period 29 5 57 4
Invoices confirmed during the period 24 23 49 34
Confirmed invoices paid during the period (34) (11) (87) (21)
Confirmed obligations at end of period $ 19 $ 17 $ 19 $ 17
v3.23.2
Dispositions (Narrative) (Details) - Discontinued Operations, Held-for-sale - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Jul. 31, 2023
Brookfield Renewable Partners        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Consideration to be received $ 1,100      
Arclight | Subsequent event        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Consideration to be received       $ 259
Commercial Renewables        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Pre-tax impairment 1,200 $ 220 $ 1,700  
Noncontrolling interest balance $ 1,800   $ 1,600  
v3.23.2
Dispositions (Balance Sheet) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Current Assets Held for Sale    
Total current assets held for sale $ 390 $ 356
Noncurrent Assets Held for Sale    
Total other noncurrent assets held for sale 4,561 5,634
Current Liabilities Associated with Assets Held for Sale    
Total current liabilities associated with assets held for sale 575 535
Noncurrent Liabilities Associated with Assets Held for Sale    
Total other noncurrent liabilities associated with assets held for sale 1,720 1,927
Discontinued Operations, Held-for-sale | Commercial Renewables    
Current Assets Held for Sale    
Cash and cash equivalents 28 10
Receivables, net 124 107
Inventory 87 88
Other 151 151
Total current assets held for sale 390 356
Noncurrent Assets Held for Sale    
Cost 5,343 6,444
Accumulated depreciation and amortization (1,651) (1,651)
Net property, plant and equipment 3,692 4,793
Operating lease right-of-use assets, net 144 140
Investments in equity method unconsolidated affiliates 509 522
Other 216 179
Total other noncurrent assets held for sale 869 841
Total Assets Held for Sale 4,951 5,990
Current Liabilities Associated with Assets Held for Sale    
Accounts payable 80 122
Taxes accrued 16 17
Current maturities of long-term debt 277 276
Other 202 120
Total current liabilities associated with assets held for sale 575 535
Noncurrent Liabilities Associated with Assets Held for Sale    
Long-Term debt 1,108 1,188
Operating lease liabilities 153 150
Asset retirement obligations 197 190
Other 262 399
Total other noncurrent liabilities associated with assets held for sale 1,720 1,927
Total Liabilities Associated with Assets Held for Sale $ 2,295 $ 2,462
v3.23.2
Dispositions (Income Statement) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Loss from discontinued operations $ (955) $ (18) $ (1,164) $ (33)
Add: Net loss attributable to noncontrolling interest included in discontinued operations 7 45 71 72
Net (loss) income from discontinued operations attributable to Duke Energy Corporation (948) 27 (1,093) 39
Discontinued Operations, Held-for-sale | Commercial Renewables        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Operating revenues 110 122 190 243
Operation, maintenance and other 88 82 177 163
Depreciation and amortization 0 64 0 128
Property and other taxes 9 11 19 21
Other income and expenses, net (3) (3) (7) (3)
Interest expense 12 18 43 37
Loss on disposal 1,214 0 1,434 0
Loss before income taxes (1,216) (56) (1,490) (109)
Income tax benefit (261) (38) (326) (76)
Loss from discontinued operations (955) (18) (1,164) (33)
Add: Net loss attributable to noncontrolling interest included in discontinued operations 7 45 71 72
Net (loss) income from discontinued operations attributable to Duke Energy Corporation $ (948) $ 27 $ (1,093) $ 39
v3.23.2
Dispositions (Cash Flow Statement) (Details) - Commercial Renewables - Discontinued Operations, Held-for-sale - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]    
Operating activities $ 274 $ 212
Investing activities $ (417) $ (223)
v3.23.2
Business Segments (Narrative) (Details)
 6 Months Ended
Jun. 30, 2023
segment
Segment
Segment Reporting Information [Line Items]  
Number of reportable segments | Segment 2
Duke Energy Ohio  
Segment Reporting Information [Line Items]  
Number of reportable segments | segment 2
v3.23.2
Business Segments (Business Segment Data) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Segment Reporting Information [Line Items]          
Operating Revenues $ 6,578 $ 6,564 $ 13,854 $ 13,575  
Segment income (loss) 714 866 1,624 1,672  
Less: Noncontrolling interests (16) 27 27 64  
Add: Preferred stock dividend 14 14 53 53  
Discontinued operations (948) 27 (1,093) 39  
Net (Loss) Income (204) 880 557 1,700  
Segment assets 180,076   180,076   $ 178,086
Impairment of assets and other charges   (9) 8 206  
Regulated electric 6,176 6,075 12,500 12,008  
Duke Energy Ohio          
Segment Reporting Information [Line Items]          
Operating Revenues 589 545 1,298 1,183  
Segment income (loss) 71 56 171 133  
Segment assets 11,791   11,791   $ 11,506
Regulated electric 465 401 939 813  
Total Reportable Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 6,569 6,556 13,838 13,560  
Electric Utilities and Infrastructure          
Segment Reporting Information [Line Items]          
Operating Revenues 6,232 6,126 12,613 12,121  
Impairment of assets and other charges       211  
Regulated electric       46  
Electric Utilities and Infrastructure | Duke Energy Supreme Court Ruling          
Segment Reporting Information [Line Items]          
Less: Noncontrolling interests       (20)  
Gas Utilities and Infrastructure          
Segment Reporting Information [Line Items]          
Operating Revenues 337 430 1,225 1,439  
Operating Segments | Total Reportable Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 6,609 6,588 13,918 13,622  
Segment income (loss) 875 993 1,953 1,970  
Segment assets 171,368   171,368    
Operating Segments | Total Reportable Segments | Duke Energy Ohio          
Segment Reporting Information [Line Items]          
Operating Revenues 589 545 1,298 1,183  
Segment income (loss) 72 56 173 135  
Segment assets 11,794   11,794    
Operating Segments | Electric Utilities and Infrastructure          
Segment Reporting Information [Line Items]          
Operating Revenues 6,250 6,135 12,648 12,137  
Segment income (loss) 850 974 1,641 1,697  
Segment assets 154,983   154,983    
Operating Segments | Electric Utilities and Infrastructure | Duke Energy Ohio          
Segment Reporting Information [Line Items]          
Operating Revenues 465 401 939 813  
Segment income (loss) 54 37 103 78  
Segment assets 7,683   7,683    
Operating Segments | Gas Utilities and Infrastructure          
Segment Reporting Information [Line Items]          
Operating Revenues 359 453 1,270 1,485  
Segment income (loss) 25 19 312 273  
Segment assets 16,385   16,385    
Operating Segments | Gas Utilities and Infrastructure | Duke Energy Ohio          
Segment Reporting Information [Line Items]          
Operating Revenues 124 144 359 370  
Segment income (loss) 18 19 70 57  
Segment assets 4,111   4,111    
Other | Other | Duke Energy Ohio          
Segment Reporting Information [Line Items]          
Segment income (loss) (1) 0 (2) (2)  
Segment assets 10   10    
Corporate And Eliminations          
Segment Reporting Information [Line Items]          
Operating Revenues 34 31 65 61  
Segment income (loss) (161) (126) (329) (297)  
Segment assets 8,708   8,708    
Eliminations          
Segment Reporting Information [Line Items]          
Operating Revenues (65) (55) (129) (108)  
Segment income (loss)   (1)   (1)  
Eliminations | Duke Energy Ohio          
Segment Reporting Information [Line Items]          
Segment assets (13)   (13)    
Eliminations | Total Reportable Segments          
Segment Reporting Information [Line Items]          
Operating Revenues 40 32 80 62  
Eliminations | Electric Utilities and Infrastructure          
Segment Reporting Information [Line Items]          
Operating Revenues 18 9 35 16  
Eliminations | Gas Utilities and Infrastructure          
Segment Reporting Information [Line Items]          
Operating Revenues 22 23 45 46  
Eliminations | Other          
Segment Reporting Information [Line Items]          
Operating Revenues 25 23 49 46  
Other          
Segment Reporting Information [Line Items]          
Operating Revenues $ 9 $ 8 $ 16 $ 15  
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Carolinas and Duke Energy Progress) (Details) - Nuclear Regulatory Commission - contention
 6 Months Ended
Sep. 27, 2021
Jul. 28, 2021
Jun. 07, 2021
Jun. 06, 2021
Jun. 30, 2023
Public Utilities, General Disclosures [Line Items]          
Operating license extension (in years)         20 years
Oconee Nuclear Station Subsequent License Renewal | Duke Energy Carolinas          
Public Utilities, General Disclosures [Line Items]          
Comment period (in days)   60 days      
Number of contentions 3        
Oconee Nuclear Station Subsequent License Renewal | Oconee Nuclear Station | Duke Energy Carolinas          
Public Utilities, General Disclosures [Line Items]          
Operating license extension (in years)     20 years    
Operating license (in years)     80 years 60 years  
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Carolinas) (Details) - Duke Energy Carolinas - USD ($)
$ in Millions
 4 Months Ended 12 Months Ended
May 31, 2023
Jan. 19, 2023
Dec. 31, 2026
Aug. 31, 2026
Aug. 31, 2025
Aug. 31, 2024
2023 North Carolina Rate Case | NCUC            
Public Utilities, General Disclosures [Line Items]            
Proposed rate period (in years)   3 years        
2023 South Carolina Storm Securitization            
Public Utilities, General Disclosures [Line Items]            
Storm costs $ 171          
Forecast | 2023 North Carolina Rate Case | NCUC            
Public Utilities, General Disclosures [Line Items]            
Requested rate increase (decrease), amount     $ 823 $ 150 $ 172  
Requested return on equity (as a percent)     15.70%      
Forecast | 2023 North Carolina Rate Case | NCUC | Subsequent event            
Public Utilities, General Disclosures [Line Items]            
Requested rate increase (decrease), amount           $ 501
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Progress) (Details) - Duke Energy Progress - USD ($)
$ in Millions
 6 Months Ended 7 Months Ended 10 Months Ended 11 Months Ended 12 Months Ended
Oct. 06, 2022
Sep. 01, 2022
Dec. 31, 2025
Dec. 31, 2025
Apr. 30, 2026
Apr. 30, 2025
Apr. 30, 2024
May 31, 2027
May 31, 2026
May 31, 2025
May 31, 2024
2022 North Carolina Rate Case | NCUC                      
Public Utilities, General Disclosures [Line Items]                      
Proposed rate period (in years) 3 years                    
2022 North Carolina Rate Case | NCUC | Forecast                      
Public Utilities, General Disclosures [Line Items]                      
Requested rate increase (decrease), amount     $ 587 $ 615 $ 140 $ 127     $ 138 $ 151  
Requested return on equity (as a percent)     15.00%         16.00%      
2022 North Carolina Rate Case | NCUC | Forecast | Subsequent event                      
Public Utilities, General Disclosures [Line Items]                      
Requested rate increase (decrease), amount             $ 320       $ 326
2022 South Carolina Rate Case | PSCSC                      
Public Utilities, General Disclosures [Line Items]                      
Approved rate increase (decrease), amount   $ 52                  
2022 South Carolina Rate Case, Retail Rate Case | PSCSC                      
Public Utilities, General Disclosures [Line Items]                      
Approved rate increase (decrease), amount   $ 36                  
Approved return on equity percentage (as a percent)   9.60%                  
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Equity                      
Public Utilities, General Disclosures [Line Items]                      
Approved return on equity percentage (as a percent)   52.43%                  
2022 South Carolina Rate Case, Retail Rate Case | PSCSC | Debt                      
Public Utilities, General Disclosures [Line Items]                      
Approved return on equity percentage (as a percent)   47.57%                  
2022 South Carolina Rate Case, Coal Ash Basin Closure Costs | PSCSC                      
Public Utilities, General Disclosures [Line Items]                      
Deferred compliance costs period (in years)   7 years                  
Deferred compliance costs   $ 50                  
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Florida) (Details) - Duke Energy Florida
outage in Millions
 12 Months Ended
Jan. 23, 2023
USD ($)
Oct. 17, 2022
USD ($)
Oct. 04, 2022
USD ($)
Jun. 15, 2022
USD ($)
May 04, 2021
USD ($)
Jul. 01, 2020
USD ($)
plant
MW
Dec. 31, 2034
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Sep. 28, 2022
outage
Sep. 27, 2022
USD ($)
Apr. 11, 2022
USD ($)
Solar Project                            
Public Utilities, General Disclosures [Line Items]                            
Estimated cost of facilities           $ 1,000,000,000                
FPSC                            
Public Utilities, General Disclosures [Line Items]                            
Number of solar plants | plant           10                
Generation capacity (MW) | MW           750                
FPSC | Hurricane Ian                            
Public Utilities, General Disclosures [Line Items]                            
Number of outages | outage                       1.1    
Deferred storm coats                   $ 357,000,000        
Storm reserves                   $ 132,000,000     $ 107,000,000  
Interim recovery payments $ 442,000,000                          
2021 Settlement | FPSC                            
Public Utilities, General Disclosures [Line Items]                            
Approved rate increase (decrease), amount                 $ 67,000,000          
Public utilities, approved equity capital structure, percentage (as a percent)         53.00%                  
Public utilities, approved debt capital structure, percentage         47.00%                  
Public utilities, basis points, increase, percentage         0.25%                  
Contract with customer, asset, after allowance for credit loss, noncurrent       $ 154,000,000 $ 173,000,000           $ 62,000,000      
Proceeds from legal settlements       $ 180,000,000                    
Requested rate increase (decrease), amount   $ (56,000,000)                        
Future investment in infrastructure         $ 1,000,000,000                  
2021 Settlement | FPSC | US Treasury Securities                            
Public Utilities, General Disclosures [Line Items]                            
Public utilities, basis points, increase, percentage         0.50%                  
2021 Settlement | FPSC | Minimum                            
Public Utilities, General Disclosures [Line Items]                            
Approved return on equity percentage (as a percent)         8.85%                  
2021 Settlement | FPSC | Minimum | US Treasury Securities                            
Public Utilities, General Disclosures [Line Items]                            
Approved return on equity percentage (as a percent)         9.85%                  
2021 Settlement | FPSC | Maximum                            
Public Utilities, General Disclosures [Line Items]                            
Approved return on equity percentage (as a percent)         10.85%                  
2021 Settlement | FPSC | Maximum | US Treasury Securities                            
Public Utilities, General Disclosures [Line Items]                            
Approved return on equity percentage (as a percent)         10.10%                  
2021 Settlement | FPSC | Weighted Average                            
Public Utilities, General Disclosures [Line Items]                            
Approved return on equity percentage (as a percent)         9.85%                  
2021 Settlement | FPSC | Forecast                            
Public Utilities, General Disclosures [Line Items]                            
Approved rate increase (decrease), amount             $ 79,000,000 $ 49,000,000            
Contract with customer, asset, after allowance for credit loss, noncurrent               $ 111,000,000            
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                      
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Ohio) (Details) - USD ($)
$ in Millions
 1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Apr. 28, 2023
Apr. 03, 2023
Mar. 10, 2023
Dec. 01, 2022
Sep. 19, 2022
Oct. 01, 2021
Dec. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Public Utilities, General Disclosures [Line Items]                        
Operating Revenues               $ 6,578 $ 6,564 $ 13,854 $ 13,575  
Operation, maintenance and other               1,375 1,367 2,685 2,915  
Income Tax Expense From Continuing Operations               (119) (114) (274) (139)  
Duke Energy Ohio                        
Public Utilities, General Disclosures [Line Items]                        
Operating Revenues               589 545 1,298 1,183  
Operation, maintenance and other               121 109 244 287  
Income Tax Expense From Continuing Operations               $ (13) $ (9) $ (33) $ 47  
Duke Energy Ohio Electric Base Rate Case | PUCO | Duke Energy Ohio                        
Public Utilities, General Disclosures [Line Items]                        
Requested rate increase (decrease), amount         $ 23 $ 55            
Requested return on equity (as a percent)         9.50% 10.30%            
Duke Energy Ohio Gas Base Rate Case | PUCO | Duke Energy Ohio                        
Public Utilities, General Disclosures [Line Items]                        
Requested rate increase (decrease), amount $ 32 $ 49                    
Requested return on equity (as a percent) 9.60% 10.30%                    
Requested rate increase, percentage   5.60%                    
Duke Energy Ohio Gas Base Rate Case | PUCO | Duke Energy Ohio | Minimum                        
Public Utilities, General Disclosures [Line Items]                        
Requested rate increase (decrease), amount                       $ 24
Requested return on equity (as a percent)                       9.03%
Duke Energy Ohio Gas Base Rate Case | PUCO | Duke Energy Ohio | Maximum                        
Public Utilities, General Disclosures [Line Items]                        
Requested rate increase (decrease), amount                       $ 36
Requested return on equity (as a percent)                       10.04%
Equity ratio (as a percent) 52.32%                     52.32%
Duke Energy Kentucky Electric Base Rate Case | KPSC | Duke Energy Ohio                        
Public Utilities, General Disclosures [Line Items]                        
Requested rate increase (decrease), amount     $ 31 $ 75                
Requested return on equity (as a percent)     9.55% 10.35%                
Requested rate increase, percentage             17.80%          
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Duke Energy Indiana) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jul. 28, 2021
Jun. 29, 2020
Dec. 04, 2019
Jul. 02, 2019
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Dec. 31, 2022
Feb. 03, 2023
Jun. 15, 2022
Dec. 31, 2020
Public Utilities, General Disclosures [Line Items]                        
Impairment of assets and other charges           $ (9) $ 8 $ 206        
Operating Revenues         $ 6,578 6,564 13,854 13,575        
Duke Energy Indiana                        
Public Utilities, General Disclosures [Line Items]                        
Impairment of assets and other charges               211        
Operating Revenues         780 $ 918 1,755 1,740        
Indiana Coal Ash Recovery | IURC | Duke Energy Indiana                        
Public Utilities, General Disclosures [Line Items]                        
Impairment of assets and other charges                 $ 175      
TDSIG 2.0 | IURC | Duke Energy Indiana                        
Public Utilities, General Disclosures [Line Items]                        
Future investment in infrastructure                     $ 2,000  
Indiana rate case 2019 | IURC | Duke Energy Indiana                        
Public Utilities, General Disclosures [Line Items]                        
Requested rate increase (decrease), amount       $ 395                
Requested rate increase, percentage, net of tax     15.60%                  
Requested rate increase (decrease), amended amount     $ 396                  
Approved rate increase (decrease), amount   $ 146                    
Rate base                       $ 10,200
Reduction of requested rate increase   $ 200                    
Reduction due to depreciation methodology   50.00%                    
Reduction due to approved return on equity   20.00%                    
Public Utilities, Approved Return on Equity, Percentage   9.70%                    
Requested return on equity (as a percent)   10.40%                    
Reduction due to earnings adjustments   20.00%                    
Estimated percentage of total rate increase, step one   75.00%                    
Estimated percentage of total rate increase, step two 25.00%                      
Impairment of assets and other charges               211        
Operating Revenues               $ 46        
Regulatory Matters, Settlement To Customers         $ 70   $ 70     $ 70    
v3.23.2
Regulatory Matters (Regulatory Matters Narrative - Piedmont) (Details)
Oct. 10, 2022
Piedmont | Tennessee Annual Review Mechanism | TPUC  
Public Utilities, General Disclosures [Line Items]  
Approved return on equity percentage (as a percent) 9.80%
v3.23.2
Commitments and Contingencies (Schedule of Environmental Loss Contingencies) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation $ 92 $ 84
Duke Energy Carolinas    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation 23 22
Progress Energy    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation 23 19
Duke Energy Progress    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation 11 8
Duke Energy Florida    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation 11 11
Duke Energy Ohio    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation 36 33
Duke Energy Indiana    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation 2 3
Piedmont    
Environmental Matters Details [Line Items]    
Reserves for Environmental Remediation $ 8 $ 7
v3.23.2
Commitments and Contingencies (Narrative) (Details)
$ in Millions
Jun. 16, 2021
people
Jun. 30, 2023
USD ($)
Dec. 31, 2022
USD ($)
Feb. 28, 2021
case
Texas Storm Uri Tort Litigation | Pending Litigation        
Loss Contingencies [Line Items]        
Loss contingency, pending claims, number | case       5
Duke Energy Carolinas | Ruben Villano, et al. v. Duke Energy Carolinas, LLC | Pending Litigation        
Loss Contingencies [Line Items]        
Number of individuals | people 9      
Number of survivors | people 4      
Number of deceased individuals | people 5      
Duke Energy Carolinas | Asbestos-related Injuries and Damages Claims        
Loss Contingencies [Line Items]        
Asbestos-related injuries and damages reserves | $   $ 446 $ 457  
Probable insurance recoveries | $   595 595  
Duke Energy and Duke Energy Carolinas | ASU 2016-13        
Loss Contingencies [Line Items]        
Reserve for credit losses for insurance receivables | $   $ 12 $ 12  
v3.23.2
Debt and Credit Facilities (Summary of Debt Issuances) (Details)
 6 Months Ended
Jun. 30, 2023
USD ($)
Debt Instrument [Line Items]  
Debt issuances $ 6,975,000,000
4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt  
Debt Instrument [Line Items]  
Interest rate 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 5.40%
Debt issuances $ 350,000,000
4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 4.95%
5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.35%
5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.25%
5.350% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.35%
5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.25%
5.650% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.65%
5.400% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.40%
4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 4.95%
5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Interest rate 5.40%
Maturities Due October 2023  
Debt Instrument [Line Items]  
Repayments of debt $ 45,000,000
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  
Debt Instrument [Line Items]  
Repayments of debt 100,000,000
Maturities Due October 2023  
Debt Instrument [Line Items]  
Repayments of debt 300,000,000
Duke Energy (Parent)  
Debt Instrument [Line Items]  
Debt issuances 1,725,000,000
Duke Energy (Parent) | 4.125% April 2023 2023 Notes Due April 2026 | Unsecured Debt  
Debt Instrument [Line Items]  
Debt issuances 1,725,000,000
Duke Energy (Parent) | 5.400% June 2023 2023 Notes Due June 2023 | Unsecured Debt  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy (Parent) | 4.95% January 2023 Notes Due January 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 900,000,000
Duke Energy (Parent) | 5.350% January 2023 Notes Due January 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 900,000,000
Duke Energy (Parent) | 5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
Duke Energy (Parent) | 5.350% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
Duke Energy (Parent) | 5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 375,000,000
Duke Energy (Parent) | 5.650% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 375,000,000
Duke Energy (Parent) | 5.400% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
Duke Energy (Parent) | 4.950% June 2023 2023 Notes Due January 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 350,000,000
Duke Energy (Parent) | 5.400% June 2023 2023 Notes Due January 2054 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
Duke Energy Carolinas  
Debt Instrument [Line Items]  
Debt issuances 2,650,000,000
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 | 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 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Carolinas | 5.350% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Carolinas | 5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Carolinas | 5.650% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Carolinas | 5.400% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
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 Progress  
Debt Instrument [Line Items]  
Debt issuances 1,000,000,000
Duke Energy Progress | 4.95% January 2023 Notes Due January 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 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
Duke Energy Progress | 5.350% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
Duke Energy Progress | 5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Progress | 5.650% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Progress | 5.400% March 2022 Notes Due April 2053 | 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 Ohio  
Debt Instrument [Line Items]  
Debt issuances 750,000,000
Duke Energy Ohio | 5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 375,000,000
Duke Energy Ohio | 5.650% March 2022 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 500,000,000
Duke Energy Indiana | 4.95% January 2023 Notes Due January 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 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Indiana | 5.350% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Indiana | 5.250% March 2022 Notes Due April 2033 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Indiana | 5.650% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 0
Duke Energy Indiana | 5.400% March 2022 Notes Due April 2053 | First Mortgage Bonds  
Debt Instrument [Line Items]  
Debt issuances 500,000,000
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
Piedmont  
Debt Instrument [Line Items]  
Debt issuances 350,000,000
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
v3.23.2
Debt and Credit Facilities (Summary of Current Maturities of Long-term Debt) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 4,609 $ 3,878
Other debt securities    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 659  
Duke Energy (Parent) | Debt Maturing October 2023, 3.950% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest rate 3.95%  
Current maturities of long-term debt $ 400  
Duke Energy (Parent) | Debt Maturing October 2023, 5.645% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest rate 5.645%  
Current maturities of long-term debt $ 1,000  
Duke Energy (Parent) | Debt Maturing March 2024, 5.385% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest rate 3.75%  
Current maturities of long-term debt $ 1,000  
Duke Energy Ohio    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 475 475
Duke Energy Ohio | Debt Maturing October 2023, 4.879% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest rate 5.546%  
Current maturities of long-term debt $ 150  
Duke Energy Ohio | Debt Maturing September 2023, 3.800% Coupon | First Mortgage Bonds    
Debt Instrument [Line Items]    
Interest rate 3.80%  
Current maturities of long-term debt $ 300  
Duke Energy Carolinas    
Debt Instrument [Line Items]    
Current maturities of long-term debt 18 1,018
Duke Energy Progress    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 370 369
Duke Energy Progress | Debt Maturing September 2023, 3.375% Coupon | First Mortgage Bonds    
Debt Instrument [Line Items]    
Interest rate 3.375%  
Current maturities of long-term debt $ 300  
Duke Energy Florida    
Debt Instrument [Line Items]    
Current maturities of long-term debt $ 1,201 $ 328
Duke Energy Florida | Debt Maturing April 2024, 5.921% Coupon | Unsecured Debt    
Debt Instrument [Line Items]    
Interest rate 5.921%  
Current maturities of long-term debt $ 800  
v3.23.2
Debt and Credit Facilities (Narrative) (Details)
 1 Months Ended 3 Months Ended
Jun. 30, 2023
USD ($)
day
$ / shares
Mar. 09, 2022
USD ($)
Apr. 30, 2023
USD ($)
$ / shares
Mar. 31, 2022
Mar. 31, 2023
USD ($)
Dec. 31, 2022
$ / shares
Debt Instrument [Line Items]            
Sale of debt $ 6,975,000,000          
Common stock, par value (in usd per share) | $ / shares $ 0.001         $ 0.001
4.25% Convertible Senior notes Due April 2026            
Debt Instrument [Line Items]            
Interest rate     4.125%      
Duke Energy (Parent)            
Debt Instrument [Line Items]            
Sale of debt $ 1,725,000,000          
Duke Energy (Parent) | 4.25% Convertible Senior notes Due April 2026            
Debt Instrument [Line Items]            
Sale of debt     $ 1,700,000,000      
Common stock, par value (in usd per share) | $ / shares     $ 0.001      
Conversion ratio     0.0084131      
Debt conversion rate (as a percent)       25.00%    
Progress Energy            
Debt Instrument [Line Items]            
Common stock, par value (in usd per share) | $ / shares $ 0.01         $ 0.01
Convertible Debt | 4.25% Convertible Senior notes Due April 2026 | Debt Conversion Terms One            
Debt Instrument [Line Items]            
Trading days | day 20          
Consecutive trading days | day 30          
Debt conversion rate (as a percent) 130.00%          
Convertible Debt | 4.25% Convertible Senior notes Due April 2026 | Debt Conversion Terms Two            
Debt Instrument [Line Items]            
Trading days | day 5          
Consecutive trading days | day 10          
Debt conversion rate (as a percent) 98.00%          
Master Credit Facility            
Debt Instrument [Line Items]            
Facility size $ 9,000,000,000       $ 9,000,000,000  
Master Credit Facility | Duke Energy Florida            
Debt Instrument [Line Items]            
Facility size $ 1,350,000,000          
Master Credit Facility | Term Loan Facility | Duke Energy (Parent)            
Debt Instrument [Line Items]            
Facility size   $ 1,400,000,000        
Extension period (in years)   2 years        
June 2017 Three Year Revolving Credit Facility            
Debt Instrument [Line Items]            
Facility term (in years)   3 years        
v3.23.2
Debt and Credit Facilities (Schedule of Line of Credit Facilities) (Details) - Master Credit Facility - USD ($)
Jun. 30, 2023
Mar. 31, 2023
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 (39,000,000)  
Tax-exempt bonds (81,000,000)  
Available capacity under the Master Credit Facility 5,737,000,000  
Duke Energy Carolinas    
Line of Credit Facility [Line Items]    
Facility size 2,025,000,000  
Commercial paper (829,000,000)  
Outstanding letters of credit (4,000,000)  
Available capacity under the Master Credit Facility 1,192,000,000  
Duke Energy Progress    
Line of Credit Facility [Line Items]    
Facility size 900,000,000  
Commercial paper (150,000,000)  
Outstanding letters of credit (1,000,000)  
Available capacity under the Master Credit Facility 749,000,000  
Duke Energy Florida    
Line of Credit Facility [Line Items]    
Facility size 1,350,000,000  
Commercial paper (759,000,000)  
Outstanding letters of credit (7,000,000)  
Available capacity under the Master Credit Facility 584,000,000  
Duke Energy Ohio    
Line of Credit Facility [Line Items]    
Facility size 700,000,000  
Commercial paper (132,000,000)  
Available capacity under the Master Credit Facility 568,000,000  
Duke Energy Indiana    
Line of Credit Facility [Line Items]    
Facility size 950,000,000  
Commercial paper (341,000,000)  
Tax-exempt bonds (81,000,000)  
Available capacity under the Master Credit Facility 528,000,000  
Piedmont    
Line of Credit Facility [Line Items]    
Facility size 800,000,000  
Commercial paper (95,000,000)  
Available capacity under the Master Credit Facility 705,000,000  
Duke Energy (Parent) | Proceeds loaned to subsidiary registrants    
Line of Credit Facility [Line Items]    
Commercial paper (625,000,000)  
Duke Energy (Parent) | Duke Energy (Parent)    
Line of Credit Facility [Line Items]    
Facility size 2,275,000,000  
Commercial paper (837,000,000)  
Outstanding letters of credit (27,000,000)  
Available capacity under the Master Credit Facility $ 1,411,000,000  
v3.23.2
Goodwill (Details) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Goodwill [Line Items]    
Goodwill $ 19,303,000,000 $ 19,303,000,000
Accumulated impairment charges 0 0
Duke Energy Ohio    
Goodwill [Line Items]    
Goodwill 920,000,000 920,000,000
Accumulated impairment charges 216,000,000 216,000,000
Progress Energy    
Goodwill [Line Items]    
Goodwill 3,655,000,000 3,655,000,000
Piedmont    
Goodwill [Line Items]    
Goodwill 49,000,000 49,000,000
Electric Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 17,400,000,000 17,400,000,000
Electric Utilities and Infrastructure | Duke Energy Ohio    
Goodwill [Line Items]    
Goodwill 596,000,000 596,000,000
Electric Utilities and Infrastructure | Progress Energy    
Goodwill [Line Items]    
Accumulated impairment charges 0 0
Gas Utilities and Infrastructure    
Goodwill [Line Items]    
Goodwill 1,900,000,000 1,900,000,000
Gas Utilities and Infrastructure | Duke Energy Ohio    
Goodwill [Line Items]    
Goodwill 324,000,000 324,000,000
Gas Utilities and Infrastructure | Piedmont    
Goodwill [Line Items]    
Accumulated impairment charges $ 0 $ 0
v3.23.2
Related Party Transactions (Other Revenue and Expense) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party $ 5,179 $ 5,124 $ 10,788 $ 10,824
Duke Energy Carolinas        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 1,439 1,342 2,965 2,777
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 192 191 388 397
Duke Energy Carolinas | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 8 7 17 14
Duke Energy Carolinas | JDA | Duke Energy Progress        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 34 173 63 267
Related party transaction, other revenues from transactions with related party 8 12 21 38
Duke Energy Carolinas | Intercompany natural gas purchases and sales | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 4 5 9 9
Progress Energy        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 2,575 2,525 5,011 4,922
Progress Energy | Corporate governance and shared service expenses | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 172 184 350 380
Progress Energy | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 12 11 24 22
Progress Energy | JDA | Duke Energy Carolinas        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 8 12 21 38
Related party transaction, other revenues from transactions with related party 34 173 63 267
Progress Energy | Intercompany natural gas purchases and sales | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 18 19 37 38
Duke Energy Progress        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 1,191 1,269 2,453 2,589
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 104 108 211 227
Duke Energy Progress | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 5 5 10 10
Duke Energy Progress | JDA | Duke Energy Carolinas        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 8 12 21 38
Related party transaction, other revenues from transactions with related party 34 173 63 267
Duke Energy Progress | Intercompany natural gas purchases and sales | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 18 19 37 38
Duke Energy Florida        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 1,380 1,252 2,550 2,325
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 68 76 139 153
Duke Energy Florida | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 7 6 14 12
Duke Energy Ohio        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 475 457 1,036 1,050
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 76 82 149 164
Duke Energy Ohio | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 2 1 3 2
Duke Energy Indiana        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 604 718 1,413 1,621
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 84 91 183 215
Duke Energy Indiana | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 2 2 4 4
Piedmont        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 209 302 578 841
Piedmont | Corporate governance and shared service expenses | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 37 37 75 72
Piedmont | Indemnification coverages | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party 1 2 2 3
Piedmont | Intercompany natural gas purchases and sales | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, other revenues from transactions with related party 22 24 46 47
Piedmont | Natural gas storage and transportation costs | Related Party        
Related Party Transaction [Line Items]        
Related party transaction, expenses from transactions with related party $ 6 $ 5 $ 12 $ 11
v3.23.2
Related Party Transactions (Intercompany Income Taxes) (Details) - Related Party - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Duke Energy Carolinas    
Related Party Transaction [Line Items]    
Intercompany income tax payable $ 89 $ 37
Progress Energy    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   95
Intercompany income tax payable 50  
Duke Energy Progress    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   36
Intercompany income tax payable 28  
Duke Energy Florida    
Related Party Transaction [Line Items]    
Intercompany income tax receivable   17
Intercompany income tax payable 95  
Duke Energy Ohio    
Related Party Transaction [Line Items]    
Intercompany income tax receivable 2  
Intercompany income tax payable   17
Duke Energy Indiana    
Related Party Transaction [Line Items]    
Intercompany income tax payable 26 18
Piedmont    
Related Party Transaction [Line Items]    
Intercompany income tax receivable $ 24  
Intercompany income tax payable   $ 38
v3.23.2
Derivatives and Hedging (Notional Amounts of Derivative Instruments) (Details)
Mcf in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Mar. 31, 2023
GWh
Mcf
Jun. 30, 2023
USD ($)
GWh
Mcf
Dec. 31, 2022
USD ($)
Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 4,127 $ 2,877
Commodity contracts | Electricity (GWh)      
Derivative [Line Items]      
Notional amount, energy measure (in gigawatt-hours) | GWh 14,086 28,253  
Commodity contracts | Natural gas (millions of dekatherms)      
Derivative [Line Items]      
Notional amount, volume (in millions of dekatherms) | Mcf 909 863  
Designated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 2,100 500
Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   2,027 2,377
Duke Energy Carolinas | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 550 1,250
Duke Energy Carolinas | Commodity contracts | Natural gas (millions of dekatherms)      
Derivative [Line Items]      
Notional amount, volume (in millions of dekatherms) | Mcf 307 290  
Duke Energy Carolinas | Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 550 1,250
Progress Energy | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 1,250 800
Progress Energy | Commodity contracts | Natural gas (millions of dekatherms)      
Derivative [Line Items]      
Notional amount, volume (in millions of dekatherms) | Mcf 292 280  
Progress Energy | Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 1,250 800
Duke Energy Progress | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 250 500
Duke Energy Progress | Commodity contracts | Natural gas (millions of dekatherms)      
Derivative [Line Items]      
Notional amount, volume (in millions of dekatherms) | Mcf 292 280  
Duke Energy Progress | Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 250 500
Duke Energy Florida | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   1,000 300
Duke Energy Florida | Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   1,000 300
Duke Energy Indiana | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 200 300
Duke Energy Indiana | Commodity contracts | Electricity (GWh)      
Derivative [Line Items]      
Notional amount, energy measure (in gigawatt-hours) | GWh 12,266 24,787  
Duke Energy Indiana | Commodity contracts | Natural gas (millions of dekatherms)      
Derivative [Line Items]      
Notional amount, volume (in millions of dekatherms) | Mcf 11 12  
Duke Energy Indiana | Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 200 300
Duke Energy Ohio | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 27 27
Duke Energy Ohio | Commodity contracts | Electricity (GWh)      
Derivative [Line Items]      
Notional amount, energy measure (in gigawatt-hours) | GWh 1,820 3,466  
Duke Energy Ohio | Undesignated contracts | Interest Rate Contracts      
Derivative [Line Items]      
Notional amount   $ 27 $ 27
Piedmont | Commodity contracts | Natural gas (millions of dekatherms)      
Derivative [Line Items]      
Notional amount, volume (in millions of dekatherms) | Mcf 299 281  
v3.23.2
Derivatives and Hedging (Foreign Exchange Risk) (Details) - Foreign Currency Contracts - Designated contracts
€ in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2023
USD ($)
Jun. 30, 2022
USD ($)
Jun. 30, 2023
EUR (€)
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Notional amount $ 1,182   $ 1,182    
Receive notional | €         € 1,100
Fair value gain (loss) 8 $ (29) 18 $ (29)  
Senior Notes, 3.10% Due June 2028          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Notional amount $ 645   $ 645    
Pay Rate 4.75%   4.75%   4.75%
Receive notional | €         € 600
Rate 0.0310   0.0310   0.0310
Fair value gain (loss) $ 5 (16) $ 10 (16)  
Senior Notes, 3.85% Due June 2034          
Derivative Instruments and Hedging Activities Disclosures [Line Items]          
Notional amount $ 537   $ 537    
Pay Rate 5.31%   5.31%   5.31%
Receive notional | €         € 500
Rate 0.0385   0.0385   0.0385
Fair value gain (loss) $ 3 $ (13) $ 8 $ (13)  
v3.23.2
Derivatives and Hedging (Location and Fair Value Amounts of Derivatives Reflected in the Condensed Consolidated Balance Sheets) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) $ 322 $ 795
Location and fair value amounts of derivatives (Liability) 509 437
Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 205 582
Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 117 213
Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 251 193
Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 258 244
Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 168 478
Location and fair value amounts of derivatives (Liability) 489 377
Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 144 317
Location and fair value amounts of derivatives (Liability) 4 2
Foreign Currency Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 10  
Location and fair value amounts of derivatives (Liability) 16  
Equity Securities Contract    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability)   58
Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 75 265
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 93 213
Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 235 175
Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 254 202
Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 23 216
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 2  
Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 4 2
Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 107  
Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 12  
Designated as Hedging Instruments | Interest Rate Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset)   101
Designated as Hedging Instruments | Foreign Currency Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 10  
Designated as Hedging Instruments | Foreign Currency Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 16 18
Designated as Hedging Instruments | Foreign Currency Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability)   40
Duke Energy Carolinas    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 62 330
Location and fair value amounts of derivatives (Liability) 183 127
Duke Energy Carolinas | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 16 226
Duke Energy Carolinas | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 46 104
Duke Energy Carolinas | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 121 96
Duke Energy Carolinas | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 62 31
Duke Energy Carolinas | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 61 236
Location and fair value amounts of derivatives (Liability) 183 127
Duke Energy Carolinas | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1 94
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 16 132
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 45 104
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 121 96
Duke Energy Carolinas | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 62 31
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset)   94
Duke Energy Carolinas | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Progress Energy    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 90 248
Location and fair value amounts of derivatives (Liability) 146 66
Progress Energy | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 41 140
Progress Energy | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 49 108
Progress Energy | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 86 36
Progress Energy | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 60 30
Progress Energy | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 66 207
Location and fair value amounts of derivatives (Liability) 145 66
Progress Energy | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 24 41
Location and fair value amounts of derivatives (Liability) 1  
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 18 99
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 48 108
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 86 36
Progress Energy | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 59 30
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 23 41
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Progress Energy | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1  
Duke Energy Progress    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 60 230
Location and fair value amounts of derivatives (Liability) 146 48
Duke Energy Progress | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 12 122
Duke Energy Progress | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 48 108
Duke Energy Progress | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 86 18
Duke Energy Progress | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 60 30
Duke Energy Progress | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 60 207
Location and fair value amounts of derivatives (Liability) 145 48
Duke Energy Progress | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset)   23
Location and fair value amounts of derivatives (Liability) 1  
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 12 99
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 48 108
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 86 18
Duke Energy Progress | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 59 30
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset)   23
Duke Energy Progress | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1  
Duke Energy Florida    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 30 17
Location and fair value amounts of derivatives (Liability)   19
Duke Energy Florida | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 29 17
Duke Energy Florida | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Duke Energy Florida | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability)   19
Duke Energy Florida | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 6  
Location and fair value amounts of derivatives (Liability)   19
Duke Energy Florida | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 24 17
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 6  
Duke Energy Florida | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability)   19
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 23 17
Duke Energy Florida | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Duke Energy Ohio    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 4 5
Location and fair value amounts of derivatives (Liability) 1 2
Duke Energy Ohio | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 4 5
Duke Energy Ohio | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1 2
Duke Energy Ohio | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 4 5
Duke Energy Ohio | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1 2
Duke Energy Ohio | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 4 5
Duke Energy Ohio | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1 2
Duke Energy Indiana    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 37 110
Location and fair value amounts of derivatives (Liability) 7 16
Duke Energy Indiana | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 37 110
Duke Energy Indiana | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 6 16
Duke Energy Indiana | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1  
Duke Energy Indiana | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 37 29
Location and fair value amounts of derivatives (Liability) 6 16
Duke Energy Indiana | Interest Rate Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset)   81
Location and fair value amounts of derivatives (Liability) 1  
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 37 29
Duke Energy Indiana | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 6 16
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset)   81
Duke Energy Indiana | Not Designated as Hedging Instruments | Interest Rate Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 1  
Piedmont    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Location and fair value amounts of derivatives (Liability) 156 168
Piedmont | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Piedmont | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 23 27
Piedmont | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 133 141
Piedmont | Commodity Contracts    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Location and fair value amounts of derivatives (Liability) 156 168
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current assets    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Asset) 1  
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Current liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) 23 27
Piedmont | Not Designated as Hedging Instruments | Commodity Contracts | Noncurrent liabilities    
Derivatives, Fair Value [Line Items]    
Location and fair value amounts of derivatives (Liability) $ 133 $ 141
v3.23.2
Derivatives and Hedging (Schedule of Offsetting Assets) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 322 $ 795
Derivative Asset, Current 182 518
Net amounts presented in Current Assets: Other 51 116
Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 205 582
Gross amounts offset $ (23) $ (64)
Derivative Asset, Current, Statement of Financial Position [Extensible Enumeration] Current Assets: Other Current Assets: Other
Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 117 $ 213
Gross amounts offset $ (66) $ (97)
Derivative Asset, Noncurrent, Statement of Financial Position [Extensible Enumeration] Other Other
Duke Energy Carolinas    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 62 $ 330
Derivative Asset, Current 3 193
Net amounts presented in Current Assets: Other 13 64
Duke Energy Carolinas | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 16 226
Gross amounts offset (13) (33)
Duke Energy Carolinas | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 46 104
Gross amounts offset (33) (40)
Progress Energy    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 90 248
Derivative Asset, Current 31 110
Net amounts presented in Current Assets: Other 16 51
Progress Energy | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 41 140
Gross amounts offset (10) (30)
Progress Energy | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 49 108
Gross amounts offset (33) (57)
Duke Energy Progress    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 60 230
Derivative Asset, Current 2 92
Net amounts presented in Current Assets: Other 15 51
Duke Energy Progress | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 12 122
Gross amounts offset (10) (30)
Duke Energy Progress | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 48 108
Gross amounts offset (33) (57)
Duke Energy Florida    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 30 17
Derivative Asset, Current 29 17
Net amounts presented in Current Assets: Other 1  
Duke Energy Florida | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 29 17
Duke Energy Florida | Noncurrent assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1  
Duke Energy Ohio    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 4 5
Derivative Asset, Current 4 5
Duke Energy Ohio | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 4 5
Duke Energy Indiana    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 37 110
Derivative Asset, Current 37 110
Duke Energy Indiana | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 37 $ 110
Piedmont    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized 1  
Derivative Asset, Current 1  
Piedmont | Current assets    
Offsetting Derivative Assets [Abstract]    
Gross amounts recognized $ 1  
v3.23.2
Derivatives and Hedging (Schedule of Offsetting Liabilities) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 509 $ 437
Net amounts presented in Current Liabilities: Other 209 144
Net amounts presented in Current Liabilities: Other 178 185
Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 251 193
Gross amounts offset $ (42) $ (49)
Derivative Liability, Current, Statement of Financial Position [Extensible Enumeration] Current Liabilities: Other Current Liabilities: Other
Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 258 $ 244
Gross amounts offset $ (80) $ (59)
Derivative Liability, Statement of Financial Position [Extensible Enumeration] Other Other
Duke Energy Carolinas    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 183 $ 127
Net amounts presented in Current Liabilities: Other 97 81
Net amounts presented in Current Liabilities: Other 19 2
Duke Energy Carolinas | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 121 96
Gross amounts offset (24) (15)
Duke Energy Carolinas | Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 62 31
Gross amounts offset (43) (29)
Progress Energy    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 146 66
Net amounts presented in Current Liabilities: Other 74 18
Net amounts presented in Current Liabilities: Other 23  
Progress Energy | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 86 36
Gross amounts offset (12) (18)
Progress Energy | Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 60 30
Gross amounts offset (37) (30)
Duke Energy Progress    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 146 48
Net amounts presented in Current Liabilities: Other 74  
Net amounts presented in Current Liabilities: Other 23  
Duke Energy Progress | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 86 18
Gross amounts offset (12) (18)
Duke Energy Progress | Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 60 30
Gross amounts offset (37) (30)
Duke Energy Florida    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized   19
Net amounts presented in Current Liabilities: Other   19
Duke Energy Florida | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized   19
Duke Energy Ohio    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 2
Net amounts presented in Current Liabilities: Other 1 2
Duke Energy Ohio | Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1 2
Duke Energy Indiana    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 7 16
Net amounts presented in Current Liabilities: Other 1  
Duke Energy Indiana | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 6 16
Gross amounts offset (6) (16)
Duke Energy Indiana | Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 1  
Piedmont    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 156 168
Net amounts presented in Current Liabilities: Other 23 27
Net amounts presented in Current Liabilities: Other 133 141
Piedmont | Current liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized 23 27
Piedmont | Noncurrent liabilities    
Offsetting Derivative Liabilities [Abstract]    
Gross amounts recognized $ 133 $ 141
v3.23.2
Derivatives and Hedging (Derivative Instruments with Credit-Risk Related Contingent Features and Cash Collateral) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position $ 309 $ 141
Fair value of collateral already posted 28  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 281 141
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 164 86
Fair value of collateral already posted 22  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 142 86
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 145 55
Fair value of collateral already posted 6  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered 139 55
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 145 48
Fair value of collateral already posted 6  
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered $ 139 48
Duke Energy Florida    
Schedule of Information Regarding Derivative Instruments That Contain Credit-Risk Related Contingent Features    
Aggregate fair value of derivatives in a net liability position   7
Additional cash collateral or letters of credit in the event credit risk-related contingent features were triggered   $ 7
v3.23.2
Investments in Debt and Equity Securities (Estimated Fair Value of Investments in Debt and Equity Securities) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Debt Securities, Available-for-sale    
Estimated Fair Value $ 2,858  
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 4,515 $ 3,682
Unrealized Holding Losses 259 395
Estimated Fair Value 10,071 9,051
NDTF    
Cash and Cash Equivalents    
Estimated Fair Value 142 215
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 4,483 3,658
Gross Unrealized Holding Losses 34 105
Estimated Fair Value 6,836 5,871
Debt Securities, Available-for-sale    
Estimated Fair Value 2,593 2,550
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 4,486 3,661
Unrealized Holding Losses 237 359
Estimated Fair Value 9,571 8,636
Other Investments    
Cash and Cash Equivalents    
Estimated Fair Value 89 22
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 29 21
Gross Unrealized Holding Losses 6 16
Estimated Fair Value 146 128
Debt Securities, Available-for-sale    
Estimated Fair Value 265 265
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 29 21
Unrealized Holding Losses 22 36
Estimated Fair Value 500 415
Duke Energy Carolinas    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,334  
Duke Energy Carolinas | NDTF    
Cash and Cash Equivalents    
Estimated Fair Value 53 117
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 2,630 2,147
Gross Unrealized Holding Losses 19 51
Estimated Fair Value 3,945 3,367
Debt Securities, Available-for-sale    
Estimated Fair Value 1,334 1,298
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 2,631 2,149
Unrealized Holding Losses 135 192
Estimated Fair Value 5,332 4,782
Progress Energy    
Debt Securities, Available-for-sale    
Estimated Fair Value 1,284  
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 1,855 1,512
Unrealized Holding Losses 102 167
Estimated Fair Value 4,272 3,890
Progress Energy | NDTF    
Cash and Cash Equivalents    
Estimated Fair Value 89 98
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 1,853 1,511
Gross Unrealized Holding Losses 15 54
Estimated Fair Value 2,891 2,504
Debt Securities, Available-for-sale    
Estimated Fair Value 1,259 1,252
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 1,855 1,512
Unrealized Holding Losses 102 167
Estimated Fair Value 4,239 3,854
Progress Energy | Other Investments    
Cash and Cash Equivalents    
Estimated Fair Value 8 11
Debt Securities, Available-for-sale    
Estimated Fair Value 25 25
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Estimated Fair Value 33 36
Duke Energy Progress    
Debt Securities, Available-for-sale    
Estimated Fair Value 968  
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 1,760 1,432
Unrealized Holding Losses 81 142
Estimated Fair Value 3,833 3,439
Duke Energy Progress | NDTF    
Cash and Cash Equivalents    
Estimated Fair Value 77 56
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 1,758 1,431
Gross Unrealized Holding Losses 15 54
Estimated Fair Value 2,783 2,411
Debt Securities, Available-for-sale    
Estimated Fair Value 968 963
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 1,760 1,432
Unrealized Holding Losses 81 142
Estimated Fair Value 3,828 3,430
Duke Energy Progress | Other Investments    
Cash and Cash Equivalents    
Estimated Fair Value 5 9
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Estimated Fair Value 5 9
Duke Energy Florida    
Debt Securities, Available-for-sale    
Estimated Fair Value 316  
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 95 80
Unrealized Holding Losses 21 25
Estimated Fair Value 438 450
Duke Energy Florida | NDTF    
Cash and Cash Equivalents    
Estimated Fair Value 12 42
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 95 80
Estimated Fair Value 108 93
Debt Securities, Available-for-sale    
Estimated Fair Value 291 289
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 95 80
Unrealized Holding Losses 21 25
Estimated Fair Value 411 424
Duke Energy Florida | Other Investments    
Cash and Cash Equivalents    
Estimated Fair Value 2 1
Debt Securities, Available-for-sale    
Estimated Fair Value 25 25
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Estimated Fair Value 27 26
Duke Energy Indiana    
Debt Securities, Available-for-sale    
Estimated Fair Value 62  
Duke Energy Indiana | Other Investments    
Cash and Cash Equivalents    
Estimated Fair Value   1
Equity Securities, FV-NI    
Gross Unrealized Holding Gains 4 2
Gross Unrealized Holding Losses 6 16
Estimated Fair Value 91 79
Debt Securities, Available-for-sale    
Estimated Fair Value 62 60
Investments, Accumulated Gross Unrealized Gains (Losses) [Abstract]    
Unrealized Holding Gains 4 2
Unrealized Holding Losses 8 20
Estimated Fair Value 153 140
Corporate debt securities | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 2 1
Gross Unrealized Holding Losses 67 85
Estimated Fair Value 619 641
Corporate debt securities | Other Investments    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 10 12
Estimated Fair Value 84 84
Corporate debt securities | Duke Energy Carolinas | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 1
Gross Unrealized Holding Losses 49 62
Estimated Fair Value 393 401
Corporate debt securities | Progress Energy | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 18 23
Estimated Fair Value 226 240
Corporate debt securities | Duke Energy Progress | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1  
Gross Unrealized Holding Losses 17 22
Estimated Fair Value 216 230
Corporate debt securities | Duke Energy Florida | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 1 1
Estimated Fair Value 10 10
Corporate debt securities | Duke Energy Indiana | Other Investments    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses   1
Estimated Fair Value 9 8
Municipal bonds | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 27 39
Estimated Fair Value 324 330
Municipal bonds | Other Investments    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 2 3
Estimated Fair Value 80 78
Municipal bonds | Duke Energy Carolinas | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 5 10
Estimated Fair Value 52 64
Municipal bonds | Progress Energy | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 22 29
Estimated Fair Value 272 266
Municipal bonds | Progress Energy | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 25 25
Municipal bonds | Duke Energy Progress | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 22 29
Estimated Fair Value 272 266
Municipal bonds | Duke Energy Florida | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 25 25
Municipal bonds | Duke Energy Indiana | Other Investments    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 2 3
Estimated Fair Value 47 45
U.S. government bonds | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 2
Gross Unrealized Holding Losses 92 112
Estimated Fair Value 1,495 1,423
U.S. government bonds | Other Investments    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 1 2
Estimated Fair Value 48 62
U.S. government bonds | Duke Energy Carolinas | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains   1
Gross Unrealized Holding Losses 45 51
Estimated Fair Value 738 685
U.S. government bonds | Progress Energy | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 1
Gross Unrealized Holding Losses 47 61
Estimated Fair Value 757 738
U.S. government bonds | Duke Energy Progress | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Gains 1 1
Gross Unrealized Holding Losses 27 37
Estimated Fair Value 476 460
U.S. government bonds | Duke Energy Florida | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 20 24
Estimated Fair Value 281 278
U.S. government bonds | Duke Energy Indiana | Other Investments    
Debt Securities, Available-for-sale    
Estimated Fair Value 6 7
Other debt securities | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 17 18
Estimated Fair Value 155 156
Other debt securities | Other Investments    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 3 3
Estimated Fair Value 53 41
Other debt securities | Duke Energy Carolinas | NDTF    
Debt Securities, Available-for-sale    
Gross Unrealized Holding Losses 17 18
Estimated Fair Value 151 148
Other debt securities | Progress Energy | NDTF    
Debt Securities, Available-for-sale    
Estimated Fair Value 4 8
Other debt securities | Duke Energy Progress | NDTF    
Debt Securities, Available-for-sale    
Estimated Fair Value $ 4 7
Other debt securities | Duke Energy Florida | NDTF    
Debt Securities, Available-for-sale    
Estimated Fair Value   $ 1
v3.23.2
Investments in Debt and Equity Securities (Realized Gains and Losses) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
FV-NI:        
Realized gains $ 20 $ 34 $ 46 $ 145
Realized losses 36 101 82 186
AFS:        
Realized gains 13 11 21 15
Realized losses 27 42 59 65
Duke Energy Carolinas        
FV-NI:        
Realized gains 9 18 27 93
Realized losses 18 55 47 104
AFS:        
Realized gains 4 9 9 12
Realized losses 8 21 28 37
Progress Energy        
FV-NI:        
Realized gains 11 16 19 52
Realized losses 18 46 35 82
AFS:        
Realized gains 9 2 12 3
Realized losses 19 17 31 23
Duke Energy Progress        
FV-NI:        
Realized gains 11 15 19 51
Realized losses 17 45 34 80
AFS:        
Realized gains 8 2 11 3
Realized losses $ 17 $ 15 $ 29 $ 20
v3.23.2
Investments in Debt and Equity Securities (Maturities) (Details)
$ in Millions
Jun. 30, 2023
USD ($)
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less $ 142
Due after one through five years 699
Due after five through 10 years 550
Due after 10 years 1,467
Total 2,858
Duke Energy Carolinas  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 7
Due after one through five years 227
Due after five through 10 years 298
Due after 10 years 802
Total 1,334
Progress Energy  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 121
Due after one through five years 394
Due after five through 10 years 208
Due after 10 years 561
Total 1,284
Duke Energy Progress  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 25
Due after one through five years 225
Due after five through 10 years 194
Due after 10 years 524
Total 968
Duke Energy Florida  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 96
Due after one through five years 169
Due after five through 10 years 14
Due after 10 years 37
Total 316
Duke Energy Indiana  
Debt Securities, Available-for-sale [Line Items]  
Due in one year or less 5
Due after one through five years 22
Due after five through 10 years 11
Due after 10 years 24
Total $ 62
v3.23.2
Fair Value Measurements (Fair Value Measurement Amounts for Assets and Liabilities) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale $ 2,858  
Derivative assets 322 $ 795
Total assets 10,393 9,846
Derivative liabilities (509) (437)
Net assets (liabilities) 9,884 9,409
NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 142 215
Estimated Fair Value 6,836 5,871
Debt securities, available-for-sale 2,593 2,550
NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 6,836 5,871
Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 89 22
Estimated Fair Value 146 128
Debt securities, available-for-sale 265 265
Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1 1
Total assets 8,023 7,030
Derivative liabilities (5) (16)
Net assets (liabilities) 8,018 7,014
Level 1 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 142 215
Debt securities, available-for-sale 804 780
Level 1 | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 6,795 5,829
Level 1 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 89 22
Estimated Fair Value 146 128
Debt securities, available-for-sale 46 55
Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 280 760
Total assets 2,288 2,740
Derivative liabilities (504) (421)
Net assets (liabilities) 1,784 2,319
Level 2 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 1,789 1,770
Level 2 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 219 210
Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 41 34
Total assets 41 34
Net assets (liabilities) 41 34
Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 41 42
Net assets (liabilities) 41 42
Not Categorized | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 41 42
Duke Energy Carolinas    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 1,334  
Derivative assets 62 330
Total assets 5,394 5,112
Derivative liabilities (183) (127)
Net assets (liabilities) 5,211 4,985
Duke Energy Carolinas | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 53 117
Estimated Fair Value 3,945 3,367
Debt securities, available-for-sale 1,334 1,298
Duke Energy Carolinas | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 3,945 3,367
Duke Energy Carolinas | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 4,293 3,765
Net assets (liabilities) 4,293 3,765
Duke Energy Carolinas | Level 1 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 53 117
Debt securities, available-for-sale 336 323
Duke Energy Carolinas | Level 1 | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 3,904 3,325
Duke Energy Carolinas | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 62 330
Total assets 1,060 1,305
Derivative liabilities (183) (127)
Net assets (liabilities) 877 1,178
Duke Energy Carolinas | Level 2 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 998 975
Duke Energy Carolinas | Not Categorized    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 41 42
Net assets (liabilities) 41 42
Duke Energy Carolinas | Not Categorized | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 41 42
Progress Energy    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 1,284  
Derivative assets 90 248
Total assets 4,362 4,138
Derivative liabilities (146) (66)
Net assets (liabilities) 4,216 4,072
Progress Energy | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 89 98
Estimated Fair Value 2,891 2,504
Debt securities, available-for-sale 1,259 1,252
Progress Energy | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 2,891 2,504
Progress Energy | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 8 11
Debt securities, available-for-sale 25 25
Progress Energy | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,456 3,070
Net assets (liabilities) 3,456 3,070
Progress Energy | Level 1 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 89 98
Debt securities, available-for-sale 468 457
Progress Energy | Level 1 | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 2,891 2,504
Progress Energy | Level 1 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 8 11
Progress Energy | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 90 248
Total assets 906 1,068
Derivative liabilities (146) (66)
Net assets (liabilities) 760 1,002
Progress Energy | Level 2 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 791 795
Progress Energy | Level 2 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 25 25
Duke Energy Progress    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 968  
Derivative assets 60 230
Total assets 3,893 3,669
Derivative liabilities (146) (48)
Net assets (liabilities) 3,747 3,621
Duke Energy Progress | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 77 56
Estimated Fair Value 2,783 2,411
Debt securities, available-for-sale 968 963
Duke Energy Progress | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 2,783 2,411
Duke Energy Progress | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 5 9
Duke Energy Progress | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 3,099 2,701
Net assets (liabilities) 3,099 2,701
Duke Energy Progress | Level 1 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 77 56
Debt securities, available-for-sale 234 225
Duke Energy Progress | Level 1 | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 2,783 2,411
Duke Energy Progress | Level 1 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 5 9
Duke Energy Progress | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 60 230
Total assets 794 968
Derivative liabilities (146) (48)
Net assets (liabilities) 648 920
Duke Energy Progress | Level 2 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 734 738
Duke Energy Florida    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 316  
Derivative assets 30 17
Total assets 468 467
Derivative liabilities   (19)
Net assets (liabilities) 468 448
Duke Energy Florida | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 12 42
Estimated Fair Value 108 93
Debt securities, available-for-sale 291 289
Duke Energy Florida | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 108 93
Duke Energy Florida | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 2 1
Debt securities, available-for-sale 25 25
Duke Energy Florida | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 356 368
Net assets (liabilities) 356 368
Duke Energy Florida | Level 1 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 12 42
Debt securities, available-for-sale 234 232
Duke Energy Florida | Level 1 | NDTF equity securities    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Estimated Fair Value 108 93
Duke Energy Florida | Level 1 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents 2 1
Duke Energy Florida | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 30 17
Total assets 112 99
Derivative liabilities   (19)
Net assets (liabilities) 112 80
Duke Energy Florida | Level 2 | NDTF    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 57 57
Duke Energy Florida | Level 2 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 25 25
Duke Energy Indiana    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 62  
Derivative assets 37 110
Total assets 190 250
Derivative liabilities (7) (16)
Net assets (liabilities) 183 234
Duke Energy Indiana | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents   1
Estimated Fair Value 91 79
Debt securities, available-for-sale 62 60
Duke Energy Indiana | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Total assets 91 80
Derivative liabilities (6) (16)
Net assets (liabilities) 85 64
Duke Energy Indiana | Level 1 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Cash and cash equivalents   1
Estimated Fair Value 91 79
Duke Energy Indiana | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets   81
Total assets 62 141
Derivative liabilities (1)  
Net assets (liabilities) 61 141
Duke Energy Indiana | Level 2 | Other Investments    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Debt securities, available-for-sale 62 60
Duke Energy Indiana | Level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 37 29
Total assets 37 29
Net assets (liabilities) 37 29
Piedmont    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1 0
Derivative liabilities (156) (168)
Net assets (liabilities) (155) (168)
Piedmont | Level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative assets 1  
Net assets (liabilities) 1  
Piedmont | Level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Derivative liabilities (156) (168)
Net assets (liabilities) $ (156) $ (168)
v3.23.2
Fair Value Measurements (Reconciliation of Assets and Liabilities Measured At Fair Value On A Recurring Basis Using Unobservable Inputs) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Derivatives (net)        
Balance at beginning of period $ 12 $ 10 $ 34 $ 24
Purchases, sales, issuances and settlements:        
Purchases 47 77 47 77
Settlements (38) 15 (58) 8
Total gains (losses) included on the Condensed Consolidated Balance Sheet 20 (13) 18 (20)
Balance at end of period 41 89 41 89
Duke Energy Indiana        
Derivatives (net)        
Balance at beginning of period 11 10 29 22
Purchases, sales, issuances and settlements:        
Purchases 42 74 42 74
Settlements (37) 16 (56) 10
Total gains (losses) included on the Condensed Consolidated Balance Sheet 21 (16) 22 (22)
Balance at end of period $ 37 $ 84 $ 37 $ 84
v3.23.2
Fair Value Measurements (Quantitative Level 3 Fair Value Disclosures) (Details)
$ in Millions
Jun. 30, 2023
USD ($)
$ / MWh
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
$ / MWh
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Fair Value Measurement Inputs and Valuation Techniques            
Net derivative asset (liability) | $ $ 41 $ 12 $ 34 $ 89 $ 10 $ 24
Duke Energy Ohio | FTRs | RTO auction pricing            
Fair Value Measurement Inputs and Valuation Techniques            
Net derivative asset (liability) | $ $ 4   $ 5      
Duke Energy Ohio | FTRs | RTO auction pricing | Minimum            
Fair Value Measurement Inputs and Valuation Techniques            
Input measurements (in usd per MWh and usd per MMBtu) (0.19)   0.89      
Duke Energy Ohio | FTRs | RTO auction pricing | Maximum            
Fair Value Measurement Inputs and Valuation Techniques            
Input measurements (in usd per MWh and usd per MMBtu) 2.71   6.25      
Duke Energy Ohio | FTRs | RTO auction pricing | Weighted Average            
Fair Value Measurement Inputs and Valuation Techniques            
Input measurements (in usd per MWh and usd per MMBtu) 0.83   3.35      
Duke Energy Indiana            
Fair Value Measurement Inputs and Valuation Techniques            
Net derivative asset (liability) | $ $ 37 $ 11 $ 29 $ 84 $ 10 $ 22
Duke Energy Indiana | FTRs | RTO auction pricing            
Fair Value Measurement Inputs and Valuation Techniques            
Net derivative asset (liability) | $ $ 37   $ 29      
Duke Energy Indiana | FTRs | RTO auction pricing | Minimum            
Fair Value Measurement Inputs and Valuation Techniques            
Input measurements (in usd per MWh and usd per MMBtu) (1.64)   0.09      
Duke Energy Indiana | FTRs | RTO auction pricing | Maximum            
Fair Value Measurement Inputs and Valuation Techniques            
Input measurements (in usd per MWh and usd per MMBtu) 12.51   21.79      
Duke Energy Indiana | FTRs | RTO auction pricing | Weighted Average            
Fair Value Measurement Inputs and Valuation Techniques            
Input measurements (in usd per MWh and usd per MMBtu) 1.90   2.74      
v3.23.2
Fair Value Measurements (Other Fair Value Disclosure) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 74,523 $ 69,751
Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 67,125 61,986
Piedmont Natural Gas and Progress Energy    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Unamortized debt discount (premium), net 1,130 1,170
Duke Energy Carolinas | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 15,966 14,266
Duke Energy Carolinas | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 14,693 12,943
Progress Energy | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 23,439 22,439
Progress Energy | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 21,546 20,467
Duke Energy Progress | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 12,041 11,087
Duke Energy Progress | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 10,660 9,689
Duke Energy Florida | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 9,755 9,709
Duke Energy Florida | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 9,106 8,991
Duke Energy Ohio | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 3,991 3,245
Duke Energy Ohio | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 3,705 2,927
Duke Energy Indiana | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 4,503 4,307
Duke Energy Indiana | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 4,148 3,913
Piedmont | Book Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt 3,712 3,363
Piedmont | Fair Value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Long-term debt $ 3,272 $ 2,940
v3.23.2
Variable Interest Entities (Narrative) (Details) - VIE primary beneficiary - USD ($)
 1 Months Ended 6 Months Ended
Nov. 30, 2021
Jun. 30, 2023
Variable Interest Entities [Line Items]    
Variable interest entity, financial or other support, amount   $ 0
CRC    
Variable Interest Entities [Line Items]    
Percent of proceeds received as cash   75.00%
Percent of proceeds received as subordinated note   25.00%
Minimum equity balance required by Cinergy Receivables   $ 3,000,000
DECNCSF | Duke Energy Carolinas    
Variable Interest Entities [Line Items]    
Proceeds from issuance of senior secured bonds $ 237,000,000  
DEPNCSF | Duke Energy Progress    
Variable Interest Entities [Line Items]    
Proceeds from issuance of senior secured bonds $ 770,000,000  
v3.23.2
Variable Interest Entities (Schedule of Accounts Receivable Securitizations) (Details) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Variable Interest Entities [Line Items]    
Long-Term Debt $ 69,914,000,000 $ 65,873,000,000
Duke Energy Carolinas    
Variable Interest Entities [Line Items]    
Long-Term Debt 15,648,000,000 12,948,000,000
Duke Energy Progress    
Variable Interest Entities [Line Items]    
Long-Term Debt 11,521,000,000 10,568,000,000
Duke Energy Florida    
Variable Interest Entities [Line Items]    
Long-Term Debt 8,554,000,000 9,381,000,000
CRC | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Facility size 350,000,000  
Long-Term Debt 323,000,000 350,000,000
Accounts receivable from securitization 645,000,000 917,000,000
DERF | Duke Energy Carolinas | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Facility size 500,000,000  
Long-Term Debt 488,000,000 471,000,000
Accounts receivable from securitization 855,000,000 928,000,000
DEPR | Duke Energy Progress | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Facility size 400,000,000  
Long-Term Debt 400,000,000 400,000,000
Accounts receivable from securitization 694,000,000 793,000,000
DEFR | Duke Energy Florida | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Facility size 325,000,000  
Long-Term Debt 325,000,000 250,000,000
Accounts receivable from securitization $ 613,000,000 $ 490,000,000
v3.23.2
Variable Interest Entities (Schedule of Consolidated VIEs) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Variable Interest Entities [Line Items]    
Regulatory Assets: Current $ 3,760 $ 3,485
Current Assets: Other 633 973
Other Noncurrent Assets: Regulatory assets 14,147 14,645
Public Utilities, Property, Plant and Equipment, Plant in Service 168,506 163,839
Accumulated depreciation and amortization (54,030) (52,100)
Other 3,444 3,400
Current Liabilities: Other 2,094 2,167
Current maturities of long-term debt 4,609 3,878
Long-Term Debt 69,914 65,873
Asset Retirement Obligations, Noncurrent 11,991 11,955
Deferred Credits and Other Liabilities 1,353 1,502
Duke Energy Florida    
Variable Interest Entities [Line Items]    
Regulatory Assets: Current 1,039 1,143
Current Assets: Other 100 108
Other Noncurrent Assets: Regulatory assets 2,161 2,422
Public Utilities, Property, Plant and Equipment, Plant in Service 27,094 25,940
Accumulated depreciation and amortization (6,794) (6,377)
Other 409 372
Current Liabilities: Other 335 363
Current maturities of long-term debt 1,201 328
Long-Term Debt 8,554 9,381
Asset Retirement Obligations, Noncurrent 335 357
Deferred Credits and Other Liabilities 77 84
Duke Energy Carolinas    
Variable Interest Entities [Line Items]    
Regulatory Assets: Current 1,483 1,095
Current Assets: Other 61 216
Other Noncurrent Assets: Regulatory assets 4,056 4,293
Public Utilities, Property, Plant and Equipment, Plant in Service 56,116 54,650
Accumulated depreciation and amortization (19,328) (18,669)
Other 1,005 1,036
Current Liabilities: Other 598 580
Current maturities of long-term debt 18 1,018
Long-Term Debt 15,648 12,948
Asset Retirement Obligations, Noncurrent 5,166 5,121
Deferred Credits and Other Liabilities 561 527
Duke Energy Progress    
Variable Interest Entities [Line Items]    
Regulatory Assets: Current 888 690
Current Assets: Other 61 174
Other Noncurrent Assets: Regulatory assets 4,658 4,724
Public Utilities, Property, Plant and Equipment, Plant in Service 39,779 38,875
Accumulated depreciation and amortization (14,598) (14,201)
Other 651 650
Current Liabilities: Other 440 384
Current maturities of long-term debt 370 369
Long-Term Debt 11,521 10,568
Asset Retirement Obligations, Noncurrent 5,555 5,535
Deferred Credits and Other Liabilities 89 76
DEFPF | Duke Energy Florida | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Receivables of VIEs 5 6
Regulatory Assets: Current 56 55
Current Assets: Other 36 41
Other Noncurrent Assets: Regulatory assets 803 826
Current Liabilities: Other 9 9
Current maturities of long-term debt 57 56
Long-Term Debt 859 890
DECNCSF | Duke Energy Carolinas | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Regulatory Assets: Current 12 12
Current Assets: Other 8 8
Other Noncurrent Assets: Regulatory assets 202 208
Other 1 1
Current Liabilities: Other 3 3
Current maturities of long-term debt 10 10
Long-Term Debt 214 219
DEPNCSF | Duke Energy Progress | VIE primary beneficiary    
Variable Interest Entities [Line Items]    
Regulatory Assets: Current 39 39
Current Assets: Other 25 29
Other Noncurrent Assets: Regulatory assets 662 681
Other 4 2
Current Liabilities: Other 8 8
Current maturities of long-term debt 34 34
Long-Term Debt $ 697 $ 714
v3.23.2
Variable Interest Entities (Schedule of Non-Consolidated VIEs) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Variable Interest Entities [Line Items]    
Receivables from affiliated companies $ 2,812 $ 3,106
Investments in equity method unconsolidated affiliates 479 455
Other noncurrent assets 3,444 3,400
Total Assets 180,076 178,086
Other current liabilities 2,094 2,167
Other 1,353 1,502
Duke Energy Ohio    
Variable Interest Entities [Line Items]    
Receivables from affiliated companies 89 73
Other noncurrent assets 74 71
Total Assets 11,791 11,506
Other current liabilities 66 74
Other 95 96
Duke Energy Ohio | Affiliated Entity    
Variable Interest Entities [Line Items]    
Receivables from affiliated companies 180 247
Duke Energy Ohio | VIE not primary beneficiary    
Variable Interest Entities [Line Items]    
Total Assets 131 198
Net assets 131 198
Duke Energy Ohio | VIE not primary beneficiary | Affiliated Entity    
Variable Interest Entities [Line Items]    
Receivables from affiliated companies 131 198
Duke Energy Indiana    
Variable Interest Entities [Line Items]    
Receivables from affiliated companies 178 112
Other noncurrent assets 278 254
Total Assets 14,615 14,654
Other current liabilities 179 161
Other 26 65
Duke Energy Indiana | Affiliated Entity    
Variable Interest Entities [Line Items]    
Receivables from affiliated companies 164 298
Duke Energy Indiana | VIE not primary beneficiary    
Variable Interest Entities [Line Items]    
Total Assets 183 317
Net assets 183 317
Duke Energy Indiana | VIE not primary beneficiary | Affiliated Entity    
Variable Interest Entities [Line Items]    
Receivables from affiliated companies 183 317
Pipeline Investments | VIE not primary beneficiary    
Variable Interest Entities [Line Items]    
Investments in equity method unconsolidated affiliates 58 43
Other noncurrent assets 46 45
Total Assets 104 88
Other current liabilities 23 59
Other 49 47
Total liabilities 72 106
Net assets $ 32 $ (18)
v3.23.2
Variable Interest Entities (Receivables Sold) (Details) - VIE not primary beneficiary - CRC - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Duke Energy Ohio    
Variable Interest Entities [Line Items]    
Receivables sold $ 354 $ 423
Less: Retained interests 131 198
Net receivables sold 223 225
Duke Energy Indiana    
Variable Interest Entities [Line Items]    
Receivables sold 333 508
Less: Retained interests 183 317
Net receivables sold $ 150 $ 191
v3.23.2
Variable Interest Entities (Sales and Cash Flows) (Details) - VIE not primary beneficiary - CRC - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Duke Energy Ohio    
Sales    
Receivables sold $ 1,381 $ 1,247
Loss recognized on sale 17 7
Cash flows    
Cash proceeds from receivables sold 1,445 1,188
Collection fees received 1 1
Return received on retained interests 10 3
Duke Energy Indiana    
Sales    
Receivables sold 1,665 1,617
Loss recognized on sale 19 6
Cash flows    
Cash proceeds from receivables sold 1,793 1,484
Collection fees received 1 1
Return received on retained interests $ 13 $ 4
v3.23.2
Revenue (Remaining Performance Obligations) (Details)
$ in Millions
Jun. 30, 2023
USD ($)
Progress Energy  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 154
Progress Energy | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, remaining performance obligation, amount $ 31
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 66
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount $ 36
Duke Energy Progress  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 12
Duke Energy Progress | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, remaining performance obligation, amount $ 4
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 8
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, 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, 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, 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, expected timing of satisfaction, period
Duke Energy Florida  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 142
Duke Energy Florida | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, remaining performance obligation, amount $ 27
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 58
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount $ 36
Duke Energy Indiana  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 68
Duke Energy Indiana | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, remaining performance obligation, amount $ 8
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 16
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 17
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 15
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 7
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
Revenue, remaining performance obligation, amount $ 5
Piedmont  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 497
Piedmont | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-07-01  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, expected timing of satisfaction, period 6 months
Revenue, remaining performance obligation, amount $ 33
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 62
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 61
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 51
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, expected timing of satisfaction, period 1 year
Revenue, remaining performance obligation, amount $ 49
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, expected timing of satisfaction, period
Revenue, remaining performance obligation, amount $ 241
v3.23.2
Revenue (Remaining Performance Obligations Total) (Details)
$ in Millions
Jun. 30, 2023
USD ($)
Progress Energy  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 154
Duke Energy Progress  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 12
Duke Energy Florida  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 142
Duke Energy Indiana  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount 68
Piedmont  
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]  
Revenue, remaining performance obligation, amount $ 497
v3.23.2
Revenue (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 6,473 $ 6,529 $ 13,574 $ 13,520
Revenue from sources other than contracts with customers 105 35 280 55
Total operating revenues 6,578 6,564 13,854 13,575
Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 6,130 6,097 12,397 12,068
Total operating revenues 6,232 6,126 12,613 12,121
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 2,740 2,625 5,591 5,392
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,876 1,817 3,707 3,421
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 827 824 1,718 1,596
Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 498 629 1,048 1,255
Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 189 202 333 404
Gas Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 334 424 1,161 1,437
Total operating revenues 337 430 1,225 1,439
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 179 197 686 769
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 100 127 333 396
Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 30 34 77 91
Gas Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 25 66 65 181
Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers     16  
Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 9 8   15
Duke Energy Carolinas        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,817 1,793 3,738 3,668
Revenue from sources other than contracts with customers 11 (12) 24 1
Total operating revenues 1,828 1,781 3,762 3,669
Duke Energy Carolinas | Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,817 1,793 3,738 3,668
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 715 736 1,539 1,567
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 607 566 1,195 1,110
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 320 296 616 572
Duke Energy Carolinas | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 126 103 261 216
Duke Energy Carolinas | Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 49 92 127 203
Progress Energy        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 3,181 3,199 6,184 6,185
Revenue from sources other than contracts with customers 31 15 76 21
Total operating revenues 3,212 3,214 6,260 6,206
Progress Energy | Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 3,181 3,199 6,184 6,185
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,555 1,400 2,976 2,768
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 914 889 1,755 1,615
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 274 274 546 544
Progress Energy | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 294 389 642 800
Progress Energy | Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 144 247 265 458
Duke Energy Progress        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,417 1,575 2,946 3,206
Revenue from sources other than contracts with customers 8 6 12 7
Total operating revenues 1,425 1,581 2,958 3,213
Duke Energy Progress | Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,417 1,575 2,946 3,206
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 539 530 1,146 1,154
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 369 370 727 695
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 180 184 357 378
Duke Energy Progress | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 259 281 578 630
Duke Energy Progress | Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 70 210 138 349
Duke Energy Florida        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,764 1,624 3,238 2,979
Revenue from sources other than contracts with customers 18 4 54 4
Total operating revenues 1,782 1,628 3,292 2,983
Duke Energy Florida | Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,764 1,624 3,238 2,979
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1,016 870 1,830 1,614
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 545 519 1,028 920
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 94 90 189 166
Duke Energy Florida | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 35 108 64 170
Duke Energy Florida | Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 74 37 127 109
Duke Energy Ohio        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 563 539 1,274 1,171
Revenue from sources other than contracts with customers 26 6 24 12
Total operating revenues 589 545 1,298 1,183
Duke Energy Ohio | Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 439 395 915 801
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 208 196 442 407
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 141 111 276 227
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 56 33 127 68
Duke Energy Ohio | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 12 35 21 58
Duke Energy Ohio | Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 22 20 49 41
Duke Energy Ohio | Gas Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 124 144 359 370
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 82 94 244 243
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 31 38 89 102
Duke Energy Ohio | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 6 6 15 13
Duke Energy Ohio | Gas Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 5 6 11 12
Duke Energy Indiana        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 749 892 1,715 1,699
Revenue from sources other than contracts with customers 31 26 40 41
Total operating revenues 780 918 1,755 1,740
Duke Energy Indiana | Electric Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 749 892 1,715 1,699
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 262 296 634 650
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | General        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 212 251 482 469
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 177 220 428 412
Duke Energy Indiana | Electric Utilities and Infrastructure | Electric Utilities and Infrastructure | Wholesale        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 66 102 124 181
Duke Energy Indiana | Electric Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 32 23 47 (13)
Piedmont        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 218 288 817 1,082
Revenue from sources other than contracts with customers 18 22 94 33
Total operating revenues 236 310 911 1,115
Piedmont | Gas Utilities and Infrastructure        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 218 288 817 1,082
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Residential        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 97 103 442 526
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Commercial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 69 90 244 294
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Industrial        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 24 28 61 78
Piedmont | Gas Utilities and Infrastructure | Gas Utilities and Infrastructure | Power Generation        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 23 23 46 47
Piedmont | Gas Utilities and Infrastructure | Other revenues        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 5 $ 44 $ 24 $ 137
v3.23.2
Revenue (Reserve for Credit Losses for Trade and Other Receivables) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance $ 214 $ 139 $ 216 $ 121
Cumulative Change in Accounting Principle 199 135 199 135
Write-Offs (43) (31) (85) (54)
Credit Loss Expense 23 20 39 44
Other Adjustments 5 7 29 24
Ending balance 199 135 199 135
Duke Energy Carolinas        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 70 52 68 42
Cumulative Change in Accounting Principle 57 52 57 52
Write-Offs (20) (16) (40) (25)
Credit Loss Expense 6 8 13 13
Other Adjustments 1 8 16 22
Ending balance 57 52 57 52
Progress Energy        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 75 51 81 36
Cumulative Change in Accounting Principle 73 52 73 52
Write-Offs (18) (9) (40) (19)
Credit Loss Expense 12 7 18 19
Other Adjustments 4 3 14 16
Ending balance 73 52 73 52
Duke Energy Progress        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 45 31 44 21
Cumulative Change in Accounting Principle 43 31 43 31
Write-Offs (10) (5) (19) (7)
Credit Loss Expense 4 2 5 6
Other Adjustments 4 3 13 11
Ending balance 43 31 43 31
Duke Energy Florida        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 30 21 36 16
Cumulative Change in Accounting Principle 30 21 30 21
Write-Offs (8) (5) (20) (13)
Credit Loss Expense 8 5 13 13
Other Adjustments     1 5
Ending balance 30 21 30 21
Duke Energy Ohio        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 7 4 6 4
Cumulative Change in Accounting Principle 8 4 8 4
Credit Loss Expense 1   2  
Ending balance 8 4 8 4
Duke Energy Indiana        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 4 3 4 3
Cumulative Change in Accounting Principle 4 3 4 3
Ending balance 4 3 4 3
Piedmont        
Accounts Receivable, Allowance for Credit Loss [Roll Forward]        
Beginning balance 14 17 14 15
Cumulative Change in Accounting Principle 13 15 13 15
Write-Offs (5) (5) (6) (6)
Credit Loss Expense 4 3 5 6
Ending balance $ 13 $ 15 $ 13 $ 15
v3.23.2
Revenue (Aging of Trade Receivables) (Details) - USD ($)
$ in Millions
Jun. 30, 2023
Dec. 31, 2022
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables $ 1,123 $ 1,457
Current 2,148 2,347
Deferred Payment Arrangements 112 160
Trade and Other Receivables 4,027 4,631
30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 108 123
60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 41 74
Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 244 261
Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 251 209
Duke Energy Carolinas    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 441 486
Current 593 577
Deferred Payment Arrangements 36 57
Trade and Other Receivables 1,236 1,334
Duke Energy Carolinas | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 25 23
Duke Energy Carolinas | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 9 25
Duke Energy Carolinas | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 58 96
Duke Energy Carolinas | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 74 70
Progress Energy    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 354 355
Current 1,022 1,059
Deferred Payment Arrangements 46 62
Trade and Other Receivables 1,674 1,689
Progress Energy | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 48 61
Progress Energy | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 11 18
Progress Energy | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 124 60
Progress Energy | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 69 74
Duke Energy Progress    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 215 232
Current 535 637
Deferred Payment Arrangements 30 35
Trade and Other Receivables 895 1,004
Duke Energy Progress | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 37 49
Duke Energy Progress | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 5 9
Duke Energy Progress | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 51 15
Duke Energy Progress | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 22 27
Duke Energy Florida    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 139 123
Current 485 417
Deferred Payment Arrangements 16 27
Trade and Other Receivables 777 680
Duke Energy Florida | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 11 12
Duke Energy Florida | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 6 9
Duke Energy Florida | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 73 45
Duke Energy Florida | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 47 47
Duke Energy Ohio    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 3 20
Current 27 15
Deferred Payment Arrangements 3 4
Trade and Other Receivables 97 79
Duke Energy Ohio | CRC    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 122 148
Duke Energy Ohio | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 5 6
Duke Energy Ohio | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 2 3
Duke Energy Ohio | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 3 5
Duke Energy Ohio | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 54 26
Duke Energy Indiana    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 26 28
Current 104 52
Trade and Other Receivables 182 116
Duke Energy Indiana | CRC    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 172 260
Duke Energy Indiana | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 9 2
Duke Energy Indiana | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 8 11
Duke Energy Indiana | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 15 17
Duke Energy Indiana | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 20 6
Piedmont    
Financing Receivable, Past Due [Line Items]    
Unbilled Receivables 5 160
Current 102 265
Deferred Payment Arrangements 1 1
Trade and Other Receivables 130 450
Piedmont | 30-60 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 5 3
Piedmont | 60-90 days    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 4 2
Piedmont | Financial Asset, 1 to 29 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables 8 15
Piedmont | Financial Asset, Equal to or Greater than 90 Days Past Due    
Financing Receivable, Past Due [Line Items]    
Trade and other receivables $ 5 $ 4
v3.23.2
Stockholders' Equity (Earnings Per Share Data) (Details) - USD ($)
$ / shares in Units, shares in Millions, $ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Class of Stock [Line Items]        
Net (Loss) Income Available to Duke Energy Corporation Common Stockholders $ (234) $ 893 $ 531 $ 1,711
Accumulated preferred stock dividends adjustment (12) (12)    
Less: Impact of participating securities 1   2 1
Income from continuing operations available to Duke Energy common stockholders 701 854 1,622 1,671
Loss from discontinued operations, net of tax (955) (18) (1,164) (33)
Add: Net loss attributable to noncontrolling interest included in discontinued operations 7 45 71 72
Discontinued operations $ (948) $ 27 $ (1,093) $ 39
Weighted average common shares outstanding – basic (in shares) 771 770 770 770
Weighted average common shares outstanding – diluted (in shares) 771 770 770 770
Basic (in usd per share) $ 0.91 $ 1.11 $ 2.10 $ 2.17
Diluted (in usd per share) 0.91 1.11 2.10 2.17
EPS from continuing operations available to Duke Energy common stockholders        
Basic (usd per share) (1.23) 0.03 (1.41) 0.05
Diluted (usd per share) $ (1.23) $ 0.03 $ (1.41) $ 0.05
Potentially dilutive items excluded from the calculation (in shares) 2 2 2 2
Common Stock        
EPS from continuing operations available to Duke Energy common stockholders        
Dividends declared per common share (in usd per share) $ 1.005 $ 0.985 $ 2.010 $ 1.970
Preferred stock, Series A        
EPS from continuing operations available to Duke Energy common stockholders        
Dividends declared on preferred stock per depositary share (in usd per share) 0.359 $ 0.359 $ 0.719 0.719
Cumulative dividend rate per annum     5.75%  
Liquidation preference per share (in usd per share) 25   $ 25  
Preferred stock, Series B        
EPS from continuing operations available to Duke Energy common stockholders        
Dividends declared on preferred stock per depositary share (in usd per share)     $ 24.375 $ 24.375
Cumulative dividend rate per annum     4.875%  
Liquidation preference per share (in usd per share) $ 1,000   $ 1,000  
v3.23.2
Employee Benefit Plans (Components of Net Periodic Pension Costs) (Details) - Qualified Pension Plans - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost $ 29 $ 41 $ 59 $ 81
Interest cost on projected benefit obligation 86 59 172 117
Expected return on plan assets (147) (141) (294) (281)
Amortization of actuarial loss 3 23 5 47
Amortization of prior service credit (4) (4) (7) (9)
Amortization of settlement charges 4 2 9 4
Net periodic pension costs (29) (20) (56) (41)
Duke Energy Carolinas        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 9 14 19 26
Interest cost on projected benefit obligation 21 13 42 27
Expected return on plan assets (40) (38) (80) (76)
Amortization of actuarial loss 1 5 1 10
Amortization of prior service credit 0 (1) 0 (2)
Amortization of settlement charges 2 2 4 3
Net periodic pension costs (7) (5) (14) (12)
Progress Energy        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 7 11 16 23
Interest cost on projected benefit obligation 27 18 54 36
Expected return on plan assets (49) (47) (99) (93)
Amortization of actuarial loss 1 7 2 13
Amortization of settlement charges 1   2 1
Net periodic pension costs (13) (11) (25) (20)
Duke Energy Progress        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 5 7 10 14
Interest cost on projected benefit obligation 13 8 25 16
Expected return on plan assets (23) (22) (46) (44)
Amortization of actuarial loss 1 4 1 7
Amortization of settlement charges 1 1 2 1
Net periodic pension costs (3) (2) (8) (6)
Duke Energy Florida        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 4 6 7 10
Interest cost on projected benefit obligation 15 10 29 20
Expected return on plan assets (26) (24) (52) (48)
Amortization of actuarial loss 0 3 1 6
Amortization of settlement charges 1   1  
Net periodic pension costs (6) (5) (14) (12)
Duke Energy Ohio        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 0 1 1 2
Interest cost on projected benefit obligation 5 3 9 6
Expected return on plan assets (6) (6) (12) (11)
Amortization of actuarial loss   1   2
Net periodic pension costs (1) (1) (2) (1)
Duke Energy Indiana        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 2 2 3 4
Interest cost on projected benefit obligation 7 5 14 10
Expected return on plan assets (10) (10) (20) (19)
Amortization of actuarial loss 0 3 1 5
Amortization of prior service credit (1) (1) (1) (1)
Amortization of settlement charges 1   1  
Net periodic pension costs (1) (1) (2) (1)
Piedmont        
Defined Benefit Plan, Net Periodic Benefit Cost (Credit) [Abstract]        
Service cost 1 2 2 3
Interest cost on projected benefit obligation 3 2 5 4
Expected return on plan assets (5) (6) (10) (12)
Amortization of actuarial loss   1   3
Amortization of prior service credit (2) (2) (4) (4)
Amortization of settlement charges 1   2  
Net periodic pension costs $ (2) $ (3) $ (5) $ (6)
v3.23.2
Income Taxes (Effective Tax Rates) (Details)
 3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]        
Effective tax rate 13.70% 11.30% 13.70% 7.40%
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]        
Effective tax rate 10.60% 7.30% 11.00% 7.40%
Progress Energy        
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]        
Effective tax rate 16.70% 16.80% 16.70% 16.40%
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]        
Effective tax rate 14.10% 13.80% 14.40% 13.90%
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]        
Effective tax rate 19.90% 20.20% 19.90% 20.10%
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]        
Effective tax rate 15.50% 13.80% 16.20% (54.70%)
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]        
Effective tax rate 17.40% 8.60% 17.30% (48.90%)
Piedmont        
Reconciliation of Income Tax Expense at the U.S. Federal Statutory Tax Rate to the Actual Tax Expense from Continuing Operations [Abstract]        
Effective tax rate 25.00% 85.70% 17.80% 11.30%