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)	2023		2024		2025		2026		2027		Thereafter		Total
Progress Energy	$	31	$	66	$	7	$	7	$	7	$	36	$	154
Duke Energy Progress	4		8		—		—		—		—		12
Duke Energy Florida	27		58		7		7		7		36		142
Duke Energy Indiana	8		16		17		15		7		5		68

Estimated remaining performance obligations are as follows:

	Remaining Performance Obligations
(in millions)	2023		2024		2025		2026		2027		Thereafter		Total
Piedmont	$	33	$	62	$	61	$	51	$	49	$	241	$	497

Disaggregation of Revenue

Disaggregated revenues are presented as follows:

	Three Months Ended June 30, 2023
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,740	$	715	$	1,555	$	539	$	1,016	$	208	$	262	$	—
General	1,876		607		914		369		545		141		212		—
Industrial	827		320		274		180		94		56		177		—
Wholesale	498		126		294		259		35		12		66		—
Other revenues	189		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
Commercial	100		—		—		—		—		31		—		69
Industrial	30		—		—		—		—		6		—		24
Power Generation	—		—		—		—		—		—		—		23
Other revenues	25		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	2,625	$	736	$	1,400	$	530	$	870	$	196	$	296	$	—
General	1,817		566		889		370		519		111		251		—
Industrial	824		296		274		184		90		33		220		—
Wholesale	629		103		389		281		108		35		102		—
Other revenues	202		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
Commercial	127		—		—		—		—		38		—		90
Industrial	34		—		—		—		—		6		—		28
Power Generation	—		—		—		—		—		—		—		23
Other revenues	66		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	5,591	$	1,539	$	2,976	$	1,146	$	1,830	$	442	$	634	$	—
General	3,707		1,195		1,755		727		1,028		276		482		—
Industrial	1,718		616		546		357		189		127		428		—
Wholesale	1,048		261		642		578		64		21		124		—
Other revenues	333		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
Commercial	333		—		—		—		—		89		—		244
Industrial	77		—		—		—		—		15		—		61
Power Generation	—		—		—		—		—		—		—		46
Other revenues	65		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
(in millions)	Duke		Energy		Progress		Energy		Energy		Energy		Energy
By market or type of customer	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Electric Utilities and Infrastructure
Residential	$	5,392	$	1,567	$	2,768	$	1,154	$	1,614	$	407	$	650	$	—
General	3,421		1,110		1,615		695		920		227		469		—
Industrial	1,596		572		544		378		166		68		412		—
Wholesale	1,255		216		800		630		170		58		181		—
Other revenues	404		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
Commercial	396		—		—		—		—		102		—		294
Industrial	91		—		—		—		—		13		—		78
Power Generation	—		—		—		—		—		—		—		47
Other revenues	181		—		—		—		—		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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at March 31, 2022	$	139	$	52	$	51	$	31	$	21	$	4	$	3	$	17
Write-Offs	(31)		(16)		(9)		(5)		(5)		—		—		(5)
Credit Loss Expense	20		8		7		2		5		—		—		3
Other Adjustments	7		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 Expense	23		6		12		4		8		1		—		4
Other Adjustments	5		1		4		4		—		—		—		—
Balance at June 30, 2023	$	199	$	57	$	73	$	43	$	30	$	8	$	4	$	13
	Six Months Ended June 30, 2022 and 2023
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Balance at December 31, 2021	$	121	$	42	$	36	$	21	$	16	$	4	$	3	$	15
Write-Offs	(54)		(25)		(19)		(7)		(13)		—		—		(6)
Credit Loss Expense	44		13		19		6		13		—		—		6
Other Adjustments	24		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 Expense	39		13		18		5		13		2		—		5
Other Adjustments	29		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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	1,123	$	441	$	354	$	215	$	139	$	3	$	26	$	5
Current	2,148		593		1,022		535		485		27		104		102
1-31 days past due	244		58		124		51		73		3		15		8
31-61 days past due	108		25		48		37		11		5		9		5
61-91 days past due	41		9		11		5		6		2		8		4
91+ days past due	251		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
			Duke				Duke		Duke		Duke		Duke
	Duke		Energy		Progress		Energy		Energy		Energy		Energy
(in millions)	Energy		Carolinas		Energy		Progress		Florida		Ohio		Indiana		Piedmont
Unbilled Revenue(a)(b)	$	1,457	$	486	$	355	$	232	$	123	$	20	$	28	$	160
Current	2,347		577		1,059		637		417		15		52		265
1-31 days past due	261		96		60		15		45		5		17		15
31-61 days past due	123		23		61		49		12		6		2		3
61-91 days past due	74		25		18		9		9		3		11		2
91+ days past due	209		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.