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Fair Value Measurements (Tables)
 12 Months Ended
Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets. Derivative amounts in the tables below for all Duke Energy Registrants exclude cash collateral, which is disclosed in Note 15. See Note 16 for additional information related to investments by major security type for the Duke Energy Registrants.
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$133 $133 $— $— $— 
NDTF equity securities7,278 7,241 — — 37 
NDTF debt securities2,732 829 1,903 — — 
Other equity securities158 158 — — — 
Other debt securities271 55 216 — — 
Other cash and cash equivalents31 31 — — — 
Derivative assets189 37 137 15 — 
Total assets10,792 8,484 2,256 15 37 
Derivative liabilities(729)(60)(669)— — 
Net assets
$10,063 $8,424 $1,587 $15 $37 
 December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Not Categorized
NDTF cash and cash equivalents$215 $215 $— $— $— 
NDTF equity securities5,871 5,829 — — 42 
NDTF debt securities2,550 780 1,770 — — 
Other equity securities128 128 — — — 
Other debt securities265 55 210 — — 
Other cash and cash equivalents22 22 — — — 
Derivative assets795 1 760 34 — 
Total assets9,846 7,030 2,740 34 42 
Derivative liabilities(437)(16)(421)— — 
Net assets
$9,409 $7,014 $2,319 $34 $42 
Reconciliation of Assets and Liabilities Measured at Fair Value an a Recurring Basis Using Unobservable Inputs
The following table provides reconciliations of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
Derivatives (net)
 Years Ended December 31,
(in millions) 20232022
Balance at beginning of period$34 $24 
Purchases, sales, issuances and settlements:
Purchases47 78 
Settlements(72)(36)
Total gains (losses) included on the Consolidated Balance Sheet6 (32)
Balance at end of period$15 $34 
Quantitative Information Table - Level 3
The following tables include quantitative information about the Duke Energy Registrants' derivatives classified as Level 3.
December 31, 2023
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$2 RTO auction pricingFTR price – per MWh$0.36 –$2.11 $0.71 
Duke Energy Indiana
FTRs13 RTO auction pricingFTR price – per MWh(1.05)–9.64 1.26 
Duke Energy
Total Level 3 derivatives$15 
December 31, 2022
Weighted
Fair ValueAverage
Investment Type(in millions)Valuation TechniqueUnobservable InputRangeRange
Duke Energy Ohio
FTRs$5 RTO auction pricingFTR price – per MWh$0.89 –$6.25 $3.35 
Duke Energy Indiana
FTRs29 RTO auction pricingFTR price – per MWh0.09 –21.79 2.74 
Duke Energy
Total Level 3 derivatives$34 
Schedule of Long-Term Debt Fair Value
The fair value and book value of long-term debt, including current maturities, is summarized in the following table. Estimates determined are not necessarily indicative of amounts that could have been settled in current markets. Fair value of long-term debt uses Level 2 measurements.
 December 31, 2023December 31, 2022
(in millions)Book ValueFair ValueBook ValueFair Value
Duke Energy(a)
$75,252 $69,790 $69,751 $61,986 
Duke Energy Carolinas16,012 15,077 14,266 12,943 
Progress Energy23,759 22,553 22,439 20,467 
Duke Energy Progress11,714 10,595 11,087 9,689 
Duke Energy Florida10,401 10,123 9,709 8,991 
Duke Energy Ohio3,518 3,310 3,245 2,927 
Duke Energy Indiana4,502 4,230 4,307 3,913 
Piedmont3,668 3,336 3,363 2,940 
(a)    Book value of long-term debt includes $1.0 billion as of December 31, 2023, and $1.2 billion as of December 31, 2022, of unamortized debt discount and premium, net in purchase accounting adjustments related to the mergers with Progress Energy and Piedmont that are excluded from fair value of long-term debt.
Duke Energy Carolinas  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following tables provide recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$51 $51 $— $— 
NDTF equity securities4,196 4,159 — 37 
NDTF debt securities1,438 375 1,063 — 
Derivative assets35 — 35 — 
Total assets5,720 4,585 1,098 37 
Derivative liabilities(260)— (260)— 
Net assets$5,460 $4,585 $838 $37 
 December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Not Categorized
NDTF cash and cash equivalents$117 $117 $— $— 
NDTF equity securities3,367 3,325 — 42 
NDTF debt securities1,298 323 975 — 
Derivative assets330 — 330 — 
Total assets5,112 3,765 1,305 42 
Derivative liabilities(127)— (127)— 
Net assets$4,985 $3,765 $1,178 $42 
Progress Energy  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$82 $82 $— $98 $98 $— 
NDTF equity securities3,082 3,082 — 2,504 2,504 — 
NDTF debt securities1,294 454 840 1,252 457 795 
Other debt securities23 — 23 25 — 25 
Other cash and cash equivalents18 18 — 11 11 — 
Derivative assets34 — 34 248 — 248 
Total assets4,533 3,636 897 4,138 3,070 1,068 
Derivative liabilities(234)— (234)(66)— (66)
Net assets$4,299 $3,636 $663 $4,072 $3,070 $1,002 
Duke Energy Progress  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$55 $55 $— $56 $56 $— 
NDTF equity securities2,970 2,970 — 2,411 2,411 — 
NDTF debt securities1,050 266 784 963 225 738 
Other cash and cash equivalents14 14 — 9 9 — 
Derivative assets32 — 32 230 — 230 
Total assets4,121 3,305 816 3,669 2,701 968 
Derivative liabilities(219)— (219)(48)— (48)
Net assets$3,902 $3,305 $597 $3,621 $2,701 $920 
Duke Energy Florida  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
NDTF cash and cash equivalents$27 $27 $— $42 $42 $— 
NDTF equity securities112 112 — 93 93 — 
NDTF debt securities244 188 56 289 232 57 
Other debt securities23 — 23 25 — 25 
Other cash and cash equivalents3 3 — 1 1 — 
Derivative assets2 — 2 17 — 17 
Total assets411 330 81 467 368 99 
Derivative liabilities(15)— (15)(19)— (19)
Net assets$396 $330 $66 $448 $368 $80 
Duke Energy Indiana  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Level 3Total Fair ValueLevel 1Level 2Level 3
Other equity securities$98 $98 $— $— $79 $79 $— $— 
Other debt securities64 — 64 — 60 — 60 — 
Other cash equivalents1 1 — — 1 1 — — 
Derivative assets25 5 7 13 110 — 81 29 
Total assets188 104 71 13 250 80 141 29 
Derivative liabilities(18)(18)— — (16)(16)— — 
Net assets$170 $86 $71 $13 $234 $64 $141 $29 
Reconciliation of Assets and Liabilities Measured at Fair Value an a Recurring Basis Using Unobservable Inputs
The following table provides a reconciliation of beginning and ending balances of assets and liabilities measured at fair value using Level 3 measurements.
 Derivatives (net)
 Years Ended December 31,
(in millions)20232022
Balance at beginning of period$29 $22 
Purchases, sales, issuances and settlements:
Purchases42 74 
Settlements(68)(32)
Total gains (losses) included on the Consolidated Balance Sheet
10 (35)
Balance at end of period$13 $29 
Piedmont  
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]  
Fair Value Measurement Amounts for Assets and Liabilities
The following table provides recorded balances for assets and liabilities measured at fair value on a recurring basis on the Consolidated Balance Sheets.
 December 31, 2023December 31, 2022
(in millions)Total Fair ValueLevel 1Level 2Total Fair ValueLevel 1Level 2
Derivative assets$1 $1 $— $— $— $— 
Derivative liabilities(147)— (147)(168)— (168)
Net (liabilities) assets$(146)$1 $(147)$(168)$— $(168)