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Revenue
 3 Months Ended
Mar. 31, 2021
Revenue from Contract with Customer [Abstract]  
Revenue REVENUEDuke Energy earns substantially all of its revenues through its reportable segments, Electric Utilities and Infrastructure, Gas Utilities and Infrastructure and Commercial Renewables.
Electric Utilities and Infrastructure
Electric Utilities and Infrastructure 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)20212022202320242025ThereafterTotal
Progress Energy$71 $107 $44 $45 $7 $51 $325 
Duke Energy Progress6 8 8 8 — — 30 
Duke Energy Florida65 99 36 37 7 51 295 
Duke Energy Indiana2 — 7 12 12 24 57 
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
Gas Utilities and Infrastructure 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 Gas Utilities and Infrastructure 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)20212022202320242025ThereafterTotal
Piedmont$50 $67 $64 $61 $60 $335 $637 
Commercial Renewables
Commercial Renewables earns the majority of its revenues through long-term PPAs and generally sells all of its wind and solar facility output, electricity and Renewable Energy Certificates (RECs) to customers. The majority of these PPAs have historically been accounted for as leases. For PPAs that are not accounted for as leases, the delivery of electricity and the delivery of RECs are considered separate performance obligations.
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 March 31, 2021
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,462 $793 $1,162 $560 $602 $195 $313 $— 
   General1,419 502 624 306 318 104 189 — 
   Industrial662 256 207 145 62 31 167 — 
   Wholesale504 114 326 292 34 13 50 — 
   Other revenues226 74 160 83 77 22 18 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$5,273 $1,739 $2,479 $1,386 $1,093 $365 $737 $— 
Gas Utilities and Infrastructure
   Residential$460 $— $— $— $— $110 $— $351 
   Commercial204 — — — — 48 — 156 
   Industrial50 — — — — 7 — 43 
   Power Generation— — — — — — — 22 
   Other revenues47 — — — — 5 — 26 
Total Gas Utilities and Infrastructure revenue from contracts with customers$761 $— $— $— $— $170 $— $598 
Commercial Renewables
Revenue from contracts with customers$54 $— $— $— $— $— $— $— 
Other
Revenue from contracts with customers$6 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$6,094 $1,739 $2,479 $1,386 $1,093 $535 $737 $598 
Other revenue sources(a)
$56 $(23)$26 $15 $8 $(3)$8 $8 
Total revenues$6,150 $1,716 $2,505 $1,401 $1,101 $532 $745 $606 
(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.
Three Months Ended March 31, 2020
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,261 $756 $1,064 $502 $562 $176 $265 $— 
   General1,492 549 648 319 329 114 181 — 
   Industrial693 269 216 154 62 35 175 — 
   Wholesale497 114 321 279 42 7 55 — 
   Other revenues191 60 118 63 55 20 16 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$5,134 $1,748 $2,367 $1,317 $1,050 $352 $692 $— 
Gas Utilities and Infrastructure
   Residential$362 $— $— $— $— $97 $— $264 
   Commercial169 — — — — 43 — 126 
   Industrial41 — — — — 6 — 36 
   Power Generation— — — — — — — 11 
   Other revenues30 — — — — 6 — 24 
Total Gas Utilities and Infrastructure revenue from contracts with customers$602 $— $— $— $— $152 $— $461 
Commercial Renewables
Revenue from contracts with customers$58 $— $— $— $— $— $— $— 
Other
Revenue from contracts with customers$6 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$5,800 $1,748 $2,367 $1,317 $1,050 $504 $692 $461 
Other revenue sources(a)
$149 $— $55 $21 $30 $(6)$— $51 
Total revenues$5,949 $1,748 $2,422 $1,338 $1,080 $498 $692 $512 
(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.
Three Months Ended March 31, 2020 and 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2019$76 $10 $16 $8 $7 $4 $3 $6 
Cumulative Change in Accounting Principle5 1 2 1 1 — — 1 
Write-Offs(10)(3)(4)(2)(2)— — (1)
Credit Loss Expense18 3 6 2 5 1 — 3 
Balance at March 31, 2020$89 $11 $20 $9 $11 $5 $3 $9 
Balance at December 31, 2020$146 $23 $37 $23 $14 $4 $3 $12 
Write-Offs(21)(8)(10)(5)(5)— — (1)
Credit Loss Expense17 10 7 2 5 — — 3 
Other Adjustments5 9 3 3 1 — — — 
Balance at March 31, 2021$147 $34 $37 $23 $15 $4 $3 $14 
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. Duke Energy considers receivables greater than 30 days outstanding past due.
March 31, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$758 $293 $183 $90 $93 $4 $16 $44 
0-30 days1,656 337 633 357 275 55 35 185 
30-60 days181 62 46 31 15 8 3 21 
60-90 days46 15 11 6 5 3 1 6 
90+ days120 31 26 4 22 28 11 7 
Deferred Payment Arrangements(c)
170 80 53 37 16 4 — 8 
Trade and Other Receivables$2,931 $818 $952 $525 $426 $102 $66 $271 
December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$969 $328 $283 $167 $116 $2 $16 $86 
0-30 days1,789 445 707 398 307 60 26 149 
30-60 days185 80 54 25 29 8 3 8 
60-90 days22 1 10 4 6 2 1 3 
90+ days119 16 32 9 23 30 12 9 
Deferred Payment Arrangements(c)
215 96 80 52 28 — — 7 
Trade and Other Receivables$3,299 $966 $1,166 $655 $509 $102 $58 $262 
(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 11 for further information. These receivables for unbilled revenues are $55 million and $87 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of March 31, 2021, and $87 million and $134 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2020.
(c)    Due to certain customer financial hardships created by the COVID-19 pandemic and resulting stay-at-home orders, Duke Energy permitted customers to defer payment of past-due amounts through an installment payment plan over a period of several months.