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Revenue (Tables)
6 Months Ended
Jun. 30, 2021
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)20212022202320242025ThereafterTotal
Progress Energy$49 $107 $44 $45 $$51 $303 
Duke Energy Progress4 — — 28 
Duke Energy Florida45 99 36 37 51 275 
Duke Energy Indiana — 12 12 24 55 
Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20212022202320242025ThereafterTotal
Piedmont$34 $67 $64 $61 $60 $336 $622 
Disaggregation of Revenue
Disaggregated revenues are presented as follows:
Three Months Ended June 30, 2021
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,336 $683 $1,216 $478 $738 $171 $265 $ 
   General1,513 498 720 330 390 106 190  
   Industrial705 256 229 160 69 33 189  
   Wholesale521 116 331 285 46 13 63  
   Other revenues234 62 151 71 80 22 23  
Total Electric Utilities and Infrastructure revenue from contracts with customers$5,309 $1,615 $2,647 $1,324 $1,323 $345 $730 $ 
Gas Utilities and Infrastructure
   Residential$158 $ $ $ $ $69 $ $88 
   Commercial91     27  59 
   Industrial30     4  27 
   Power Generation       24 
   Other revenues20     12  (1)
Total Gas Utilities and Infrastructure revenue from contracts with customers$299 $ $ $ $ $112 $ $197 
Commercial Renewables
Revenue from contracts with customers$53 $ $ $ $ $ $ $ 
Other
Revenue from contracts with customers$6 $ $ $ $ $ $ $ 
Total revenue from contracts with customers$5,667 $1,615 $2,647 $1,324 $1,323 $457 $730 $197 
Other revenue sources(a)
$91 $(5)$32 $25 $2 $(1)$5 $18 
Total revenues$5,758 $1,610 $2,679 $1,349 $1,325 $456 $735 $215 
(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 June 30, 2020
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,249 $677 $1,173 $460 $713 $169 $231 $— 
   General1,379 507 611 298 313 103 161 — 
   Industrial658 260 212 154 58 33 152 — 
   Wholesale435 101 285 240 45 44 — 
   Other revenues284 62 191 70 121 19 25 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$5,005 $1,607 $2,472 $1,222 $1,250 $329 $613 $— 
Gas Utilities and Infrastructure
   Residential$157 $— $— $— $— $62 $— $96 
   Commercial75 — — — — 23 — 52 
   Industrial27 — — — — — 22 
   Power Generation— — — — — — — 
   Other revenues12 — — — — — 11 
Total Gas Utilities and Infrastructure revenue from contracts with customers$271 $— $— $— $— $91 $— $187 
Commercial Renewables
Revenue from contracts with customers$55 $— $— $— $— $— $— $— 
Other
Revenue from contracts with customers$$— $— $— $— $— $— $— 
Total revenue from contracts with customers$5,338 $1,607 $2,472 $1,222 $1,250 $420 $613 $187 
Other revenue sources(a)
$83 $$26 $21 $— $$$10 
Total revenues$5,421 $1,610 $2,498 $1,243 $1,250 $423 $617 $197 
(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, 2021
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$4,798 $1,476 $2,378 $1,038 $1,340 $366 $578 $ 
   General2,932 1,000 1,344 636 708 210 379  
   Industrial1,367 512 436 305 131 64 356  
   Wholesale1,025 230 657 577 80 26 113  
   Other revenues460 136 311 154 157 44 41  
Total Electric Utilities and Infrastructure revenue from contracts with customers$10,582 $3,354 $5,126 $2,710 $2,416 $710 $1,467 $ 
Gas Utilities and Infrastructure
   Residential$618 $ $ $ $ $179 $ $439 
   Commercial295     75  215 
   Industrial80     11  70 
   Power Generation       46 
   Other revenues67     17  25 
Total Gas Utilities and Infrastructure revenue from contracts with customers$1,060 $ $ $ $ $282 $ $795 
Commercial Renewables
Revenue from contracts with customers$107 $ $ $ $ $ $ $ 
Other
Revenue from contracts with customers$12 $ $ $ $ $ $ $ 
Total Revenue from contracts with customers$11,761 $3,354 $5,126 $2,710 $2,416 $992 $1,467 $795 
Other revenue sources(a)
$147 $(28)$58 $40 $10 $(4)$13 $26 
Total revenues$11,908 $3,326 $5,184 $2,750 $2,426 $988 $1,480 $821 
(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, 2020
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$4,515 $1,433 $2,242 $962 $1,280 $345 $496 $— 
   General2,887 1,056 1,275 617 658 217 342 — 
   Industrial1,351 529 428 308 120 68 327 — 
   Wholesale932 215 606 519 87 12 99 — 
   Other revenues475 122 309 133 176 39 41 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$10,160 $3,355 $4,860 $2,539 $2,321 $681 $1,305 $— 
Gas Utilities and Infrastructure
   Residential$519 $— $— $— $— $159 $— $360 
   Commercial244 — — — — 66 — 178 
   Industrial68 — — — — — 58 
   Power Generation— — — — — — — 17 
   Other revenues42 — — — — — 35 
Total Gas Utilities and Infrastructure revenue from contracts with customers$873 $— $— $— $— $243 $— $648 
Commercial Renewables
Revenue from contracts with customers$113 $— $— $— $— $— $— $— 
Other
Revenue from contracts with customers$13 $— $— $— $— $— $— $— 
Total Revenue from contracts with customers$11,159 $3,355 $4,860 $2,539 $2,321 $924 $1,305 $648 
Other revenue sources(a)
$211 $$60 $42 $$(3)$$61 
Total revenues$11,370 $3,358 $4,920 $2,581 $2,330 $921 $1,309 $709 
(a)    Other revenue sources include revenues from leases, derivatives and alternative revenue programs that are not considered revenues from contracts with customers. Alternative revenue programs in certain jurisdictions include regulatory mechanisms that periodically adjust for over or under collection of related revenues.
Reserve for Credit Losses for Trade and Other Receivables The following table presents the reserve for credit losses for trade and other receivables based on adoption of the new standard.
Three Months Ended June 30, 2020 and 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at March 31, 2020$89 $11 $20 $$11 $$$
Write-Offs(9)(3)(3)(3)— — — (4)
Credit Loss Expense15 12 — — 
Other Adjustments— — — — — — — 
Balance at June 30, 2020$102 $14 $29 $14 $14 $5 $3 $6 
Balance at March 31, 2021$147 $34 $37 $23 $15 $$$14 
Write-Offs(5)(4)(3)(1)— — (2)
Credit Loss Expense12 — — 
Other Adjustments(31)(3)(3)— — — — 
Balance at June 30, 2021$123 $42 $36 $21 $16 $4 $3 $13 
Six Months Ended June 30, 2020 and 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2019$76 $10 $16 $$$$$
Cumulative Change in Accounting Principle— — 
Write-Offs(19)(6)(7)(5)(2)— — (5)
Credit Loss Expense33 18 10 — 
Other Adjustments— — — — — — — 
Balance at June 30, 2020$102 $14 $29 $14 $14 $$$
Balance at December 31, 2020$146 $23 $37 $23 $14 $$$12 
Write-Offs(26)(7)(14)(8)(6)— — (3)
Credit Loss Expense29 16 13 — — 
Other Adjustments(26)10 — — — — — 
Balance at June 30, 2021$123 $42 $36 $21 $16 $4 $3 $13 
Aging of Trade Receivables
The aging of trade receivables is presented in the table below. Duke Energy considers receivables greater than 30 days outstanding past due.
June 30, 2021
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$894 $324 $283 $156 $127 $4 $30 $5 
0-30 days1,836 465 781 408 372 55 29 82 
30-60 days148 62 42 22 20 4 2 8 
60-90 days47 20 10 6 4 3 1 5 
90+ days180 74 31 7 24 32 10 12 
Deferred Payment Arrangements(c)
106 46 35 24 11 2  7 
Trade and Other Receivables$3,211 $991 $1,182 $623 $558 $100 $72 $119 
December 31, 2020
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$969 $328 $283 $167 $116 $$16 $86 
0-30 days1,789 445 707 398 307 60 26 149 
30-60 days185 80 54 25 29 
60-90 days22 10 
90+ days119 16 32 23 30 12 
Deferred Payment Arrangements(c)
215 96 80 52 28 — — 
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 $66 million and $114 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of June 30, 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.