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Asset Retirement Obligations
 6 Months Ended
Jun. 30, 2024
Asset Retirement Obligation [Abstract]  
Asset Retirement Obligations ASSET RETIREMENT OBLIGATIONS
The Duke Energy Registrants record AROs when there is a legal obligation to incur retirement costs associated with the retirement of a long-lived asset and the obligation can be reasonably estimated. Actual costs incurred could be materially different from current estimates that form the basis of the recorded AROs.
The following table presents the AROs recorded on the Condensed Consolidated Balance Sheets.
June 30, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Decommissioning of nuclear power facilities(a)
$4,608 $1,999 $2,603 $2,455 $148 $— $— $— 
Closure of ash impoundments5,473 2,058 2,091 2,067 24 71 1,253 — 
Other273 55 97 34 63 65 29 27 
Total ARO$10,354 $4,112 $4,791 $4,556 $235 $136 $1,282 $27 
Less: Current portion636 252 215 214 1 7 162 — 
Total noncurrent ARO$9,718 $3,860 $4,576 $4,342 $234 $129 $1,120 $27 
ARO Liability Rollforward
In April 2024, the EPA issued the 2024 CCR Rule under the Resource Conservation and Recovery Act, which significantly expands the scope of the 2015 CCR Rule by establishing regulatory requirements for inactive surface impoundments at retired generating facilities and previously unregulated coal ash sources at regulated facilities.
The following table presents the change in liability associated with AROs for the Duke Energy Registrants.
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions) EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2023(a)
$9,156 $4,013 $4,145 $3,870 $275 $136 $809 $26 
Accretion expense(b)
204 90 96 91 5 3 17 1 
Liabilities settled(c)
(306)(95)(167)(120)(47)(3)(40)— 
Revisions in estimates of cash flows(d)
1,300 104 717 715 2 — 496 — 
Balance at June 30, 2024$10,354 $4,112 $4,791 $4,556 $235 $136 $1,282 $27 
(a)Primarily relates to decommissioning nuclear power facilities, closure of ash impoundments, asbestos removal, closure of landfills at fossil generation facilities, retirement of natural gas mains and removal of renewable energy generation assets.
(b)For the six months ended June 30, 2024, substantially all accretion expense relates to Duke Energy's regulated operations and has been deferred in accordance with regulatory accounting treatment.
(c)Primarily relates to ash impoundment closures and nuclear decommissioning.
(d)The revision amounts represent the change in discounted cash flows for estimated closure costs as evaluated on a site-by-site basis. The increases primarily relate to additional scope requirements to regulate the disposal of CCR in landfills and surface impoundments as a result of the 2024 CCR Rule, including an increase in groundwater monitoring wells.
Asset retirement costs associated with the AROs for operating plants and retired plants are included in Net property, plant and equipment and Regulatory assets within Other Noncurrent Assets, respectively, on the Condensed Consolidated Balance Sheets.