Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2023

Related Party Transactions [Abstract]

Related Party Transactions, Other Revenue and Expense

Material amounts related to transactions with related parties included in the Consolidated Statements of Operations and Comprehensive Income are presented in the following table.

	Years Ended December 31,
(in millions)	2023		2022		2021
Duke Energy Carolinas
Corporate governance and shared service expenses(a)	$	823	$	838	$	894
Indemnification coverages(b)	34		28		24
JDA revenue(c)	34		109		41
JDA expense(c)	177		600		207
Intercompany natural gas purchases(d)	11		12		11
Progress Energy
Corporate governance and shared service expenses(a)	$	736	$	818	$	856
Indemnification coverages(b)	47		43		41
JDA revenue(c)	177		600		207
JDA expense(c)	34		109		41
Intercompany natural gas purchases(d)	75		76		75
Duke Energy Progress
Corporate governance and shared service expenses(a)	$	434	$	469	$	504
Indemnification coverages(b)	20		20		19
JDA revenue(c)	177		600		207
JDA expense(c)	34		109		41
Intercompany natural gas purchases(d)	75		76		75
Duke Energy Florida
Corporate governance and shared service expenses(a)	$	302	$	349	$	352
Indemnification coverages(b)	27		23		22
Duke Energy Ohio
Corporate governance and shared service expenses(a)	$	294	$	334	$	329
Indemnification coverages(b)	5		5		4
Duke Energy Indiana
Corporate governance and shared service expenses(a)	$	365	$	447	$	409
Indemnification coverages(b)	8		8		8
Piedmont
Corporate governance and shared service expenses(a)	$	149	$	155	$	139
Indemnification coverages(b)	4		3		3
Intercompany natural gas sales(d)	86		88		86
Natural gas storage and transportation costs(e)	24		23		22

(a)The Subsidiary Registrants are charged their proportionate share of corporate governance and other shared services costs, primarily related to human resources, employee benefits, information technology, legal and accounting fees, as well as other third-party costs. These amounts are primarily recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.

(b)The Subsidiary Registrants incur expenses related to certain indemnification coverages through Bison, Duke Energy’s wholly owned captive insurance subsidiary. These expenses are recorded in Operation, maintenance and other on the Consolidated Statements of Operations and Comprehensive Income.

(c)Duke Energy Carolinas and Duke Energy Progress participate in a JDA, which allows the collective dispatch of power plants between the service territories to reduce customer rates. Revenues from the sale of power and expenses from the purchase of power pursuant to the JDA are recorded in Operating Revenues and Fuel used in electric generation and purchased power, respectively, on the Consolidated Statements of Operations and Comprehensive Income.

(d)Piedmont provides long-term natural gas delivery service to certain Duke Energy Carolinas and Duke Energy Progress natural gas-fired generation facilities. Piedmont records the sales in Operating Revenues, and Duke Energy Carolinas and Duke Energy Progress record the related purchases as a component of Fuel used in electric generation and purchased power on their respective Consolidated Statements of Operations and Comprehensive Income. These intercompany revenues and expenses are eliminated in consolidation.

(e)Piedmont has related party transactions as a customer of its equity method investments in Pine Needle, Hardy Storage, and Cardinal natural gas storage and transportation facilities. These expenses are included in Cost of natural gas on Piedmont's Consolidated Statements of Operations and Comprehensive Income.

The following table includes the balance of intercompany income tax receivables and payables for the Subsidiary Registrants.

	Duke				Duke		Duke		Duke		Duke
	Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
December 31, 2023
Intercompany income tax receivable	$	—	$	—	$	—	$	—	$	91	$	53	$	—
Intercompany income tax payable	81		92		94		114		—		—		57
December 31, 2022
Intercompany income tax receivable	$	—	$	95	$	36	$	17	$	—	$	—	$	—
Intercompany income tax payable	37		—		—		—		17		18		38