Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2022

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.

	Duke Energy				Progress Energy
	December 31,				December 31,
(in millions)	2022		2021		2022		2021
Regulatory Assets
AROs – coal ash	$	3,205	$	3,408	$	1,429	$	1,399
AROs – nuclear and other	945		684		884		620
Deferred fuel and purchased power	3,866		1,253		2,060		718
Accrued pension and OPEB	2,336		2,017		759		725
Storm cost securitized balance, net	940		991		720		759
Nuclear asset securitized balance, net	881		937		881		937
Debt fair value adjustment	829		884		—		—
Storm cost deferrals	666		213		559		189
Hedge costs deferrals	378		348		128		137
Post-in-service carrying costs (PISCC) and deferred operating expenses	342		356		42		47
Retired generation facilities	316		357		243		265
Deferred asset – Lee and Harris COLA	288		317		21		21
Advanced metering infrastructure (AMI)	283		311		111		130
Customer connect project	271		242		136		124
Costs of removal regulatory asset	221		107		221		107
Vacation accrual	222		221		43		42
Incremental COVID-19 expenses	210		87		78		28
CEP deferral	190		161		—		—
Demand side management (DSM)/Energy efficiency (EE)	189		235		188		230
Derivatives – natural gas supply contracts	168		139		—		—
NCEMPA deferrals	157		165		157		165
Nuclear deferral	154		120		64		42
Deferred pipeline integrity costs	121		108		—		—
COR settlement	120		123		32		32
Deferred coal ash handling system costs	92		90		25		23
Qualifying facility contract buyouts	81		94		81		94
Amounts due from customers	57		85		—		—
Propane caverns	26		—		—		—
Deferred severance charges	21		54		7		18
Manufactured gas plant (MGP)	—		104		—		—
Other	555		426		110		87
Total regulatory assets	18,130		14,637		8,979		6,939
Less: current portion	3,485		2,150		1,833		1,030
Total noncurrent regulatory assets	$	14,645	$	12,487	$	7,146	$	5,909
Regulatory Liabilities
Net regulatory liability related to income taxes	$	6,462	$	7,199	$	2,192	$	2,394
Costs of removal	5,151		6,150		2,269		2,955
AROs – nuclear and other	1,038		2,053		—		—
Hedge cost deferrals	683		364		252		155
Accrued pension and OPEB	211		213		—		—
DOE Settlement	154		—		154		—
Provision for rate refunds	78		274		28		87
Amounts to be refunded to customers	45		—		—		—
Other	1,226		1,110		434		453
Total regulatory liabilities	15,048		17,363		5,329		6,044
Less: current portion	1,466		1,211		576		478
Total noncurrent regulatory liabilities	$	13,582	$	16,152	$	4,753	$	5,566

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on the Consolidated Balance Sheets of Duke Energy and Progress Energy. See separate tables below for balances by individual registrant.

	Duke Energy				Progress Energy
	December 31,				December 31,
(in millions)	2022		2021		2022		2021
Regulatory Assets
AROs – coal ash	$	3,205	$	3,408	$	1,429	$	1,399
AROs – nuclear and other	945		684		884		620
Deferred fuel and purchased power	3,866		1,253		2,060		718
Accrued pension and OPEB	2,336		2,017		759		725
Storm cost securitized balance, net	940		991		720		759
Nuclear asset securitized balance, net	881		937		881		937
Debt fair value adjustment	829		884		—		—
Storm cost deferrals	666		213		559		189
Hedge costs deferrals	378		348		128		137
Post-in-service carrying costs (PISCC) and deferred operating expenses	342		356		42		47
Retired generation facilities	316		357		243		265
Deferred asset – Lee and Harris COLA	288		317		21		21
Advanced metering infrastructure (AMI)	283		311		111		130
Customer connect project	271		242		136		124
Costs of removal regulatory asset	221		107		221		107
Vacation accrual	222		221		43		42
Incremental COVID-19 expenses	210		87		78		28
CEP deferral	190		161		—		—
Demand side management (DSM)/Energy efficiency (EE)	189		235		188		230
Derivatives – natural gas supply contracts	168		139		—		—
NCEMPA deferrals	157		165		157		165
Nuclear deferral	154		120		64		42
Deferred pipeline integrity costs	121		108		—		—
COR settlement	120		123		32		32
Deferred coal ash handling system costs	92		90		25		23
Qualifying facility contract buyouts	81		94		81		94
Amounts due from customers	57		85		—		—
Propane caverns	26		—		—		—
Deferred severance charges	21		54		7		18
Manufactured gas plant (MGP)	—		104		—		—
Other	555		426		110		87
Total regulatory assets	18,130		14,637		8,979		6,939
Less: current portion	3,485		2,150		1,833		1,030
Total noncurrent regulatory assets	$	14,645	$	12,487	$	7,146	$	5,909
Regulatory Liabilities
Net regulatory liability related to income taxes	$	6,462	$	7,199	$	2,192	$	2,394
Costs of removal	5,151		6,150		2,269		2,955
AROs – nuclear and other	1,038		2,053		—		—
Hedge cost deferrals	683		364		252		155
Accrued pension and OPEB	211		213		—		—
DOE Settlement	154		—		154		—
Provision for rate refunds	78		274		28		87
Amounts to be refunded to customers	45		—		—		—
Other	1,226		1,110		434		453
Total regulatory liabilities	15,048		17,363		5,329		6,044
Less: current portion	1,466		1,211		576		478
Total noncurrent regulatory liabilities	$	13,582	$	16,152	$	4,753	$	5,566

Schedule of Potential Plant Retirements

The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs or Carbon Plan as evaluated for potential retirement. Dollar amounts in the table below are included in Net property, plant and equipment on the Consolidated Balance Sheets as of December 31, 2022, and exclude capitalized asset retirement costs.

		Remaining Net
	Capacity	Book Value
	(in MW)	(in millions)
Duke Energy Carolinas
Allen Steam Station Unit 1(a)	167	$	10
Allen Steam Station Unit 5(b)	259	233
Cliffside Unit 5(b)	546	344
Marshall Units 1-2(b)	760	428
Duke Energy Progress
Mayo Unit 1(b)	713	639
Roxboro Units 3-4(b)	1,409	425
Duke Energy Florida
Crystal River Units 4-5(c)	1,442	1,549
Duke Energy Indiana
Gibson Units 1-5(d)	2,845	2,043
Cayuga Units 1-2(d)	1,005	622
Total Duke Energy	9,146	$	6,293

(a)    As part of the 2015 resolution of a lawsuit involving alleged New Source Review violations, Duke Energy Carolinas must retire Allen Steam Station Unit 1 by December 31, 2024.

(b)    These units were included in the IRP filed by Duke Energy Carolinas and Duke Energy Progress in South Carolina on September 1, 2020, and in the Carbon Plan adopted by the NCUC in December 2022. The long-term energy options considered could result in retirement of these units earlier than their current estimated useful lives.

(c)    On January 14, 2021, Duke Energy Florida filed the 2021 Settlement agreement with the FPSC, which proposed depreciation rates reflecting retirement dates for Duke Energy Florida's last two coal-fired generating facilities, Crystal River Units 4-5, eight years ahead of schedule in 2034 rather than in 2042. The FPSC approved the 2021 Settlement on May 4, 2021. The remaining net book value reflected in the table above excludes $200 million of accelerated deprecation collected from retail customers pursuant to Duke Energy Florida's 2017 Settlement.

(d)    The rate case filed July 2, 2019, included proposed depreciation rates reflecting retirement dates from 2026 to 2038. The depreciation rates reflecting these updated retirement dates were approved by the IURC as part of the rate case order issued on June 29, 2020.

Duke Energy Carolinas

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,391	$	1,227	(g)	(b)
Deferred fuel and purchased power(i)	1,614		339		(e)	2024
Accrued pension and OPEB(c)	614		365		Yes	(h)
Storm cost securitized balance, net	220		232			2041
Storm cost deferrals	93		22		Yes	(b)
Hedge costs deferrals(c)	228		171		Yes	(b)
PISCC and deferred operating expenses(c)	30		31		Yes	(b)
Retired generation facilities(c)	39		54		Yes	(b)
Deferred asset – Lee COLA	267		296			(b)
AMI	139		140		Yes	(b)
Customer connect project	62		66		Yes	(b)
Vacation accrual	84		83			2023
Incremental COVID-19 expenses	127		51		Yes	(b)
Nuclear deferral	90		78			2024
COR settlement	88		91		Yes	(b)
Deferred coal ash handling system costs	67		67		Yes	(b)
Other	235		166			(b)
Total regulatory assets	5,388		3,479
Less: current portion	1,095		544
Total noncurrent regulatory assets	$	4,293	$	2,935
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)	$	2,475	$	2,785		(b)
Costs of removal(c)	1,769		2,009		Yes	(f)
AROs – nuclear and other	1,038		2,053			(b)
Hedge cost deferrals	350		209			(b)
Accrued pension and OPEB(c)	44		44		Yes	(h)
Provision for rate refunds	50		124		Yes	(b)
Other	587		461			(b)
Total regulatory liabilities	6,313		7,685
Less: current portion	530		487
Total noncurrent regulatory liabilities	$	5,783	$	7,198

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)     Included in rate base.

(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base.

(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina.

(f)    Recovered over the life of the associated assets.

(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.

(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

(i)    Duke Energy Carolinas submitted a fuel filing to the NCUC in May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on Duke Energy Carolinas' Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,391	$	1,227	(g)	(b)
Deferred fuel and purchased power(i)	1,614		339		(e)	2024
Accrued pension and OPEB(c)	614		365		Yes	(h)
Storm cost securitized balance, net	220		232			2041
Storm cost deferrals	93		22		Yes	(b)
Hedge costs deferrals(c)	228		171		Yes	(b)
PISCC and deferred operating expenses(c)	30		31		Yes	(b)
Retired generation facilities(c)	39		54		Yes	(b)
Deferred asset – Lee COLA	267		296			(b)
AMI	139		140		Yes	(b)
Customer connect project	62		66		Yes	(b)
Vacation accrual	84		83			2023
Incremental COVID-19 expenses	127		51		Yes	(b)
Nuclear deferral	90		78			2024
COR settlement	88		91		Yes	(b)
Deferred coal ash handling system costs	67		67		Yes	(b)
Other	235		166			(b)
Total regulatory assets	5,388		3,479
Less: current portion	1,095		544
Total noncurrent regulatory assets	$	4,293	$	2,935
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)	$	2,475	$	2,785		(b)
Costs of removal(c)	1,769		2,009		Yes	(f)
AROs – nuclear and other	1,038		2,053			(b)
Hedge cost deferrals	350		209			(b)
Accrued pension and OPEB(c)	44		44		Yes	(h)
Provision for rate refunds	50		124		Yes	(b)
Other	587		461			(b)
Total regulatory liabilities	6,313		7,685
Less: current portion	530		487
Total noncurrent regulatory liabilities	$	5,783	$	7,198

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)     Included in rate base.

(d)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base.

(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina.

(f)    Recovered over the life of the associated assets.

(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.

(h)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

(i)    Duke Energy Carolinas submitted a fuel filing to the NCUC in May 2022 for recovery of $327 million, which included deferrals through January 2022. This amount is expected to be recovered through August 2023. The next filing will be made in the first quarter of 2023. Duke Energy Carolinas submitted a fuel filing to the PSCSC in July 2022 for recovery of $79 million, which included deferrals through May 2022. The amount is expected to be recovered through September 2023. The next filing will be made in the third quarter of 2023.

Duke Energy Progress

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,418	$	1,389	(g)	(b)
AROs – nuclear and other	869		613			(c)
Deferred fuel and purchased power(l)	705		303		(e)	2024
Accrued pension and OPEB(d)	417		351		Yes	(j)
Storm cost securitized balance, net	720		759			2041
Storm cost deferrals	234		170		Yes	(b)
Hedge costs deferrals	55		60			(b)
PISCC and deferred operating expenses	42		47		Yes	2054
Retired generation facilities	149		171		Yes	(b)
Deferred asset - Harris COLA	21		21			(b)
AMI	81		92		Yes	(b)
Customer connect project	54		57		Yes	(b)
Vacation accrual	43		42			2023
Incremental COVID-19 expenses	78		28		Yes	(b)
DSM/EE(d)	180		218		(h)	(h)
NCEMPA deferrals	157		165		(f)	2042
Nuclear deferral	64		42			2024
COR settlement	32		32		Yes	(b)
Deferred coal ash handling system costs	25		23		Yes	(b)
Other	70		68			(b)
Total regulatory assets	5,414		4,651
Less: current portion	690		533
Total noncurrent regulatory assets	$	4,724	$	4,118
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)	$	1,559	$	1,695		(b)
Costs of removal(d)	2,269		2,955		Yes	(i)
Hedge cost deferrals	252		155			(b)
Provision for rate refunds	28		87		Yes	(b)
Other	344		357			(b)
Total regulatory liabilities	4,452		5,249
Less: current portion	332		381
Total noncurrent regulatory liabilities	$	4,120	$	4,868

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.

(d)    Included in rate base.

(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina.

(f)    South Carolina retail allocated costs are earning a return.

(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.

(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.

(i)    Recovered over the life of the associated assets.

(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base.

(l)    Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on Duke Energy Progress' Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,418	$	1,389	(g)	(b)
AROs – nuclear and other	869		613			(c)
Deferred fuel and purchased power(l)	705		303		(e)	2024
Accrued pension and OPEB(d)	417		351		Yes	(j)
Storm cost securitized balance, net	720		759			2041
Storm cost deferrals	234		170		Yes	(b)
Hedge costs deferrals	55		60			(b)
PISCC and deferred operating expenses	42		47		Yes	2054
Retired generation facilities	149		171		Yes	(b)
Deferred asset - Harris COLA	21		21			(b)
AMI	81		92		Yes	(b)
Customer connect project	54		57		Yes	(b)
Vacation accrual	43		42			2023
Incremental COVID-19 expenses	78		28		Yes	(b)
DSM/EE(d)	180		218		(h)	(h)
NCEMPA deferrals	157		165		(f)	2042
Nuclear deferral	64		42			2024
COR settlement	32		32		Yes	(b)
Deferred coal ash handling system costs	25		23		Yes	(b)
Other	70		68			(b)
Total regulatory assets	5,414		4,651
Less: current portion	690		533
Total noncurrent regulatory assets	$	4,724	$	4,118
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(k)	$	1,559	$	1,695		(b)
Costs of removal(d)	2,269		2,955		Yes	(i)
Hedge cost deferrals	252		155			(b)
Provision for rate refunds	28		87		Yes	(b)
Other	344		357			(b)
Total regulatory liabilities	4,452		5,249
Less: current portion	332		381
Total noncurrent regulatory liabilities	$	4,120	$	4,868

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Recovery period for costs related to nuclear facilities runs through the decommissioning period of each unit.

(d)    Included in rate base.

(e)    Pays interest on over-recovered costs in North Carolina. Includes certain purchased power costs in North Carolina and South Carolina and costs of distributed energy in South Carolina.

(f)    South Carolina retail allocated costs are earning a return.

(g)    Earns a debt and equity return on coal ash expenditures for North Carolina and South Carolina retail customers as permitted by various regulatory orders.

(h)    Includes incentives on DSM/EE investments and is recovered through an annual rider mechanism.

(i)    Recovered over the life of the associated assets.

(j)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

(k)    Includes regulatory liabilities related to the change in the federal tax rate as a result of the Tax Act and the change in the North Carolina tax rate, both discussed in Note 24. Portions are included in rate base.

(l)    Duke Energy Progress submitted a fuel filing to the NCUC in August 2022 for recovery of $251 million, which included deferrals through June 2022. This amount is expected to be recovered through November 2023. The next filing will be made in the second quarter of 2023. Duke Energy Progress submitted a fuel filing to the PSCSC in April 2022 for recovery of $44 million, which included deferrals through February 2022. This amount is expected to be recovered through June 2023. The next filing will be made in the second quarter of 2023.

Duke Energy Florida

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	11	$	10		(b)
AROs – nuclear and other	15		7			(b)
Deferred fuel and purchased power(h)	1,355		415		(f)	2024
Accrued pension and OPEB(c)	342		374		Yes	(g)
Nuclear asset securitized balance, net	881		937			2036
Storm cost deferrals(c)	325		19		(f)	(b)
Hedge costs deferrals(c)	73		77		Yes	2038
Retired generation facilities(c)	94		94		Yes	2044
AMI(c)	30		38		Yes	2032
Customer connect project(c)	82		67		Yes	2037
Costs of removal regulatory asset(c)	221		107		(d)	(b)
Qualifying facility contract buyouts(c)	81		94		Yes	2034
Other	55		49		(d)	(b)
Total regulatory assets	3,565		2,288
Less: current portion	1,143		497
Total noncurrent regulatory assets	$	2,422	$	1,791
Net regulatory liability related to income taxes(c)	$	633	$	699		(b)
DOE Settlement	154		—
Other	90		97		(d)	(b)
Total regulatory liabilities	877		796
Less: current portion	244		98
Total noncurrent regulatory liabilities	$	633	$	698

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Certain costs earn/pay a return.

(e)    Earns a debt return/interest once collections begin.

(f)    Earns commercial paper rate.

(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

(h)    Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The expected recovery period is April 2023 through March 2024.

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on Duke Energy Florida's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	11	$	10		(b)
AROs – nuclear and other	15		7			(b)
Deferred fuel and purchased power(h)	1,355		415		(f)	2024
Accrued pension and OPEB(c)	342		374		Yes	(g)
Nuclear asset securitized balance, net	881		937			2036
Storm cost deferrals(c)	325		19		(f)	(b)
Hedge costs deferrals(c)	73		77		Yes	2038
Retired generation facilities(c)	94		94		Yes	2044
AMI(c)	30		38		Yes	2032
Customer connect project(c)	82		67		Yes	2037
Costs of removal regulatory asset(c)	221		107		(d)	(b)
Qualifying facility contract buyouts(c)	81		94		Yes	2034
Other	55		49		(d)	(b)
Total regulatory assets	3,565		2,288
Less: current portion	1,143		497
Total noncurrent regulatory assets	$	2,422	$	1,791
Net regulatory liability related to income taxes(c)	$	633	$	699		(b)
DOE Settlement	154		—
Other	90		97		(d)	(b)
Total regulatory liabilities	877		796
Less: current portion	244		98
Total noncurrent regulatory liabilities	$	633	$	698

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Certain costs earn/pay a return.

(e)    Earns a debt return/interest once collections begin.

(f)    Earns commercial paper rate.

(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

(h)    Duke Energy Florida submitted a fuel filing to the FPSC in January 2023 for recovery of $795 million, which included the 2022 actual under-recovery of $1.2 billion, offset by projected declining fuel costs in 2023 due to lower natural gas prices. The expected recovery period is April 2023 through March 2024.

Duke Energy Ohio

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	—	$	33	Yes	(b)
Deferred fuel and purchased power	54		38			2023
Accrued pension and OPEB	129		133			(e)
Storm cost deferrals	14		2			2023
Hedge costs deferrals	2		5			(b)
PISCC and deferred operating expenses(c)	15		16		Yes	2083
AMI	18		24			(b)
Customer connect project	54		41			(b)
CEP deferral	190		161		Yes	(b)
Deferred pipeline integrity costs	28		24		Yes	(b)
Propane caverns	26		—			(b)
Manufactured gas plant (MGP)	—		104			(b)
Other	154		126			(b)
Total regulatory assets	684		707
Less: current portion	103		72
Total noncurrent regulatory assets	$	581	$	635
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	496	$	602		(b)
Costs of removal	9		39			(d)
Accrued pension and OPEB	21		21			(e)
Provision for rate refunds	—		61
Other	107		78			(b)
Total regulatory liabilities	633		801
Less: current portion	99		62
Total noncurrent regulatory liabilities	$	534	$	739

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Recovery over the life of the associated assets.

(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on Duke Energy Ohio's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	—	$	33	Yes	(b)
Deferred fuel and purchased power	54		38			2023
Accrued pension and OPEB	129		133			(e)
Storm cost deferrals	14		2			2023
Hedge costs deferrals	2		5			(b)
PISCC and deferred operating expenses(c)	15		16		Yes	2083
AMI	18		24			(b)
Customer connect project	54		41			(b)
CEP deferral	190		161		Yes	(b)
Deferred pipeline integrity costs	28		24		Yes	(b)
Propane caverns	26		—			(b)
Manufactured gas plant (MGP)	—		104			(b)
Other	154		126			(b)
Total regulatory assets	684		707
Less: current portion	103		72
Total noncurrent regulatory assets	$	581	$	635
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	496	$	602		(b)
Costs of removal	9		39			(d)
Accrued pension and OPEB	21		21			(e)
Provision for rate refunds	—		61
Other	107		78			(b)
Total regulatory liabilities	633		801
Less: current portion	99		62
Total noncurrent regulatory liabilities	$	534	$	739

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Recovery over the life of the associated assets.

(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

Duke Energy Indiana

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	385	$	749	Yes	(b)
Deferred fuel and purchased power	138		158			2023
Accrued pension and OPEB	214		222			(e)
Hedge costs deferrals	20		35			(b)
PISCC and deferred operating expenses(c)	255		262		Yes	(b)
Retired generation facilities(c)	34		38		Yes	2030
AMI	15		17			2031
Customer connect project	19		11			(b)
Other	44		63			(b)
Total regulatory assets	1,124		1,555
Less: current portion	249		277
Total noncurrent regulatory assets	$	875	$	1,278
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	840	$	908		(b)
Costs of removal	531		575			(d)
Hedge cost deferrals	81		—			(b)
Accrued pension and OPEB	104		113			(e)
Other	85		96			(b)
Total regulatory liabilities	1,641		1,692
Less: current portion	187		127
Total noncurrent regulatory liabilities	$	1,454	$	1,565

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Refunded over the life of the associated assets.

(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on Duke Energy Indiana's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	385	$	749	Yes	(b)
Deferred fuel and purchased power	138		158			2023
Accrued pension and OPEB	214		222			(e)
Hedge costs deferrals	20		35			(b)
PISCC and deferred operating expenses(c)	255		262		Yes	(b)
Retired generation facilities(c)	34		38		Yes	2030
AMI	15		17			2031
Customer connect project	19		11			(b)
Other	44		63			(b)
Total regulatory assets	1,124		1,555
Less: current portion	249		277
Total noncurrent regulatory assets	$	875	$	1,278
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	840	$	908		(b)
Costs of removal	531		575			(d)
Hedge cost deferrals	81		—			(b)
Accrued pension and OPEB	104		113			(e)
Other	85		96			(b)
Total regulatory liabilities	1,641		1,692
Less: current portion	187		127
Total noncurrent regulatory liabilities	$	1,454	$	1,565

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Refunded over the life of the associated assets.

(e)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

Piedmont

Public Utilities, General Disclosures [Line Items]

Schedule of Regulatory Assets

The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – nuclear and other	$	27	$	22		(d)
Accrued pension and OPEB(c)	119		82			(g)
Vacation accrual	12		12			2023
Derivatives – natural gas supply contracts(f)	168		139
Deferred pipeline integrity costs(c)	93		84			2025
Amounts due from customers	57		85		(e)	(b)
Other	35		33			(b)
Total regulatory assets	511		457
Less: current portion	119		141
Total noncurrent regulatory assets	$	392	$	316
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	459	$	510		(b)
Costs of removal(c)	573		572			(d)
Other	66		32		(e)	(b)
Total regulatory liabilities	1,098		1,114
Less: current portion	74		56
Total noncurrent regulatory liabilities	$	1,024	$	1,058

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Recovery over the life of the associated assets.

(e)    Certain costs earn/pay a return.

(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.

(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.

Schedule of Regulatory Liabilities

The following tables present the regulatory assets and liabilities recorded on Piedmont's Consolidated Balance Sheets.

	December 31,				Earns/Pays	Recovery/Refund
(in millions)	2022		2021		a Return	Period Ends
Regulatory Assets(a)
AROs – nuclear and other	$	27	$	22		(d)
Accrued pension and OPEB(c)	119		82			(g)
Vacation accrual	12		12			2023
Derivatives – natural gas supply contracts(f)	168		139
Deferred pipeline integrity costs(c)	93		84			2025
Amounts due from customers	57		85		(e)	(b)
Other	35		33			(b)
Total regulatory assets	511		457
Less: current portion	119		141
Total noncurrent regulatory assets	$	392	$	316
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	459	$	510		(b)
Costs of removal(c)	573		572			(d)
Other	66		32		(e)	(b)
Total regulatory liabilities	1,098		1,114
Less: current portion	74		56
Total noncurrent regulatory liabilities	$	1,024	$	1,058

(a)    Regulatory assets and liabilities are excluded from rate base unless otherwise noted.

(b)    The expected recovery or refund period varies or has not been determined.

(c)    Included in rate base.

(d)    Recovery over the life of the associated assets.

(e)    Certain costs earn/pay a return.

(f)    Balance will fluctuate with changes in the market. Current contracts extend into 2031.

(g)    Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 23 for additional detail.