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Related Party Transactions (Tables)
9 Months Ended
Sep. 30, 2020
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 September 30,
 
Nine Months Ended September 30,
(in millions)
2020

 
2019

 
2020

 
2019

Duke Energy Carolinas
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
198

 
$
197

 
$
528

 
$
606

Indemnification coverages(b)
5

 
5

 
15

 
15

Joint Dispatch Agreement (JDA) revenue(c)
6

 
12

 
16

 
52

JDA expense(c)
28

 
32

 
72

 
145

Intercompany natural gas purchases(d)
10

 

 
26

 
7

Progress Energy
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
185

 
$
194

 
$
520

 
$
553

Indemnification coverages(b)
9

 
8

 
27

 
27

JDA revenue(c)
28

 
32

 
72

 
145

JDA expense(c)
6

 
12

 
16

 
52

Intercompany natural gas purchases(d)
18

 
19

 
56

 
57

Duke Energy Progress
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
113

 
$
114

 
$
301

 
$
328

Indemnification coverages(b)
4

 
3

 
13

 
11

JDA revenue(c)
28

 
32

 
72

 
145

JDA expense(c)
6

 
12

 
16

 
52

Intercompany natural gas purchases(d)
18

 
19

 
56

 
57

Duke Energy Florida
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
72

 
$
80

 
$
219

 
$
225

Indemnification coverages(b)
5

 
5

 
14

 
16

Duke Energy Ohio
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
80

 
$
90

 
$
241

 
$
258

Indemnification coverages(b)
1

 
1

 
3

 
3

Duke Energy Indiana
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
102

 
$
109

 
$
300

 
$
299

Indemnification coverages(b)
2

 
2

 
6

 
5

Piedmont
 
 
 
 
 
 
 
Corporate governance and shared service expenses(a)
$
31

 
$
33

 
$
102

 
$
102

Indemnification coverages(b)
1

 
1

 
2

 
2

Intercompany natural gas sales(d)
28

 
19

 
82

 
64

Natural gas storage and transportation costs(e)
6

 
6

 
17

 
17

(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 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.
 
Duke

 
Duke

Duke

Duke

Duke

 
 
Energy

Progress

Energy

Energy

Energy

Energy

 
(in millions)
Carolinas

Energy

Progress

Florida

Ohio

Indiana

Piedmont

September 30, 2020
 
 
 
 
 
 
 
Intercompany income tax receivable
$

$

$

$

$

$

$
14

Intercompany income tax payable
206

49

104

98

6

56


 
 
 
 
 
 
 
 
December 31, 2019
 
 
 
 
 
 
 
Intercompany income tax receivable
$

$
125

$
28

$

$
9

$
28

$
13

Intercompany income tax payable
5



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