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Regulatory Matters (Tables)

12 Months Ended

Dec. 31, 2021

Public Utilities, General Disclosures [Line Items]

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)	2021		2020		2021		2020
Regulatory Assets
AROs – coal ash	$	3,408	$	3,408	$	1,399	$	1,357
AROs – nuclear and other	684		754		620		685
Accrued pension and OPEB	2,017		2,317		725		875
Deferred fuel and purchased power	1,253		213		718		162
Storm cost securitized balance, net	991		—		759		—
Nuclear asset securitized balance, net	937		991		937		991
Debt fair value adjustment	884		950		—		—
Retired generation facilities	357		417		265		363
Post-in-service carrying costs (PISCC) and deferred operating expenses	356		397		47		51
Hedge costs deferrals	348		351		137		148
Deferred asset – Lee and Harris COLA	317		356		21		32
Advanced metering infrastructure (AMI)	311		311		130		102
Customer connect project	242		136		124		55
Demand side management (DSM)/Energy efficiency (EE)	235		242		230		241
Vacation accrual	221		221		42		42
Storm cost deferrals	213		1,102		189		893
NCEMPA deferrals	165		124		165		124
CEP deferral	161		117		—		—
Derivatives – natural gas supply contracts	139		122		—		—
COR settlement	123		128		32		33
Nuclear deferral	120		123		42		35
Deferred pipeline integrity costs	108		92		—		—
Costs of removal regulatory asset	107		—		107		—
Manufactured gas plant (MGP)	104		104		—		—
Qualifying facility contract buyouts	94		107		94		107
ABSAT, coal ash basin closure	90		98		23		27
Incremental COVID-19 expenses	87		76		28		23
Amounts due from customers	85		110		—		—
Deferred severance charges	54		86		18		29




Other	426		609		87		158
Total regulatory assets	14,637		14,062		6,939		6,533
Less: current portion	2,150		1,641		1,030		758
Total noncurrent regulatory assets	$	12,487	$	12,421	$	5,909	$	5,775
Regulatory Liabilities
Net regulatory liability related to income taxes	$	7,199	$	7,368	$	2,394	$	2,411
Costs of removal	6,150		5,883		2,955		2,666
AROs – nuclear and other	2,053		1,512		—		—
Provision for rate refunds	274		344		87		123
Hedge cost deferrals	271		24		117		8
Accrued pension and OPEB	213		177		—		—


Other	1,203		1,098		491		483
Total regulatory liabilities	17,363		16,406		6,044		5,691
Less: current portion	1,211		1,377		478		640
Total noncurrent regulatory liabilities	$	16,152	$	15,029	$	5,566	$	5,051

Schedule Of Regulatory Liabilities


	Duke Energy				Progress Energy
	December 31,				December 31,
(in millions)	2021		2020		2021		2020
Regulatory Assets
AROs – coal ash	$	3,408	$	3,408	$	1,399	$	1,357
AROs – nuclear and other	684		754		620		685
Accrued pension and OPEB	2,017		2,317		725		875
Deferred fuel and purchased power	1,253		213		718		162
Storm cost securitized balance, net	991		—		759		—
Nuclear asset securitized balance, net	937		991		937		991
Debt fair value adjustment	884		950		—		—
Retired generation facilities	357		417		265		363
Post-in-service carrying costs (PISCC) and deferred operating expenses	356		397		47		51
Hedge costs deferrals	348		351		137		148
Deferred asset – Lee and Harris COLA	317		356		21		32
Advanced metering infrastructure (AMI)	311		311		130		102
Customer connect project	242		136		124		55
Demand side management (DSM)/Energy efficiency (EE)	235		242		230		241
Vacation accrual	221		221		42		42
Storm cost deferrals	213		1,102		189		893
NCEMPA deferrals	165		124		165		124
CEP deferral	161		117		—		—
Derivatives – natural gas supply contracts	139		122		—		—
COR settlement	123		128		32		33
Nuclear deferral	120		123		42		35
Deferred pipeline integrity costs	108		92		—		—
Costs of removal regulatory asset	107		—		107		—
Manufactured gas plant (MGP)	104		104		—		—
Qualifying facility contract buyouts	94		107		94		107
ABSAT, coal ash basin closure	90		98		23		27
Incremental COVID-19 expenses	87		76		28		23
Amounts due from customers	85		110		—		—
Deferred severance charges	54		86		18		29




Other	426		609		87		158
Total regulatory assets	14,637		14,062		6,939		6,533
Less: current portion	2,150		1,641		1,030		758
Total noncurrent regulatory assets	$	12,487	$	12,421	$	5,909	$	5,775
Regulatory Liabilities
Net regulatory liability related to income taxes	$	7,199	$	7,368	$	2,394	$	2,411
Costs of removal	6,150		5,883		2,955		2,666
AROs – nuclear and other	2,053		1,512		—		—
Provision for rate refunds	274		344		87		123
Hedge cost deferrals	271		24		117		8
Accrued pension and OPEB	213		177		—		—


Other	1,203		1,098		491		483
Total regulatory liabilities	17,363		16,406		6,044		5,691
Less: current portion	1,211		1,377		478		640
Total noncurrent regulatory liabilities	$	16,152	$	15,029	$	5,566	$	5,051

Schedule of Potential Plant Retirements

The table below contains the net carrying value of generating facilities planned for retirement or included in recent IRPs 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, 2021, 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	$	12
Allen Steam Station Unit 5(b)	259	277
Cliffside Unit 5(b)	546	365
Duke Energy Progress
Mayo Unit 1(b)	713	631
Roxboro Units 3-4(b)	1,409	457
Duke Energy Florida
Crystal River Units 4-5(c)	1,442	1,650
Duke Energy Indiana(d)
Gibson Units 1-5(e)	2,845	1,829
Cayuga Units 1-2(e)	1,005	696
Total Duke Energy	8,386	$	5,917

(a) As part of the 2015 resolution of a lawsuit involving alleged New Source Review violations, Duke Energy Carolinas must retire Allen Steam Station Units 1 through 3 by December 31, 2024. The long-term energy options considered in the IRP could result in retirement of these units earlier than their current estimated useful lives. Unit 3 with a capacity of 270 MW and a net book value of $26 million at December 31, 2020, was retired in March 2021, and unit 2 with a capacity of 167 MW and a net book value of $44 million at December 31, 2020, was retired in December 2021.

(b) These units were included in the IRP filed by Duke Energy Carolinas and Duke Energy Progress in North Carolina and South Carolina on September 1, 2020. The long-term energy options considered in the IRP could result in retirement of these units earlier than their current estimated useful lives. In 2019, Duke Energy Carolinas and Duke Energy Progress filed North Carolina rate cases that included depreciation studies that accelerate end-of-life dates for these plants. The NCUC issued orders in the 2019 rate cases of Duke Energy Carolinas and Duke Energy Progress on March 31, 2021, and April 16, 2021, respectively, in which the proposals to shorten the remaining depreciable lives of these units were denied, while indicating the IRP proceeding was the appropriate proceeding for the review of generating plant retirements. Allen Unit 4 with a capacity of 267 MW and a net book value of $170 million at December 31, 2020, was retired in December 2021.

(c) On January 14, 2021, Duke Energy Florida filed the 2021 Settlement 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.

(d) Gallagher Units 2 and 4 with a total capacity of 280 MW and a total net book value of $102 million at December 31, 2020, were retired on June 1, 2021.

(e) 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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,227	$	1,414	(h)	(b)

Accrued pension and OPEB(c)	365		427		Yes	(i)
Deferred fuel and purchased power	339		42		(e)	2023
Storm cost securitized balance, net	232		—			2041


Retired generation facilities(c)	54		11		Yes	2023
PISCC(c)	31		32		Yes	(b)
Hedge costs deferrals(c)	171		174		Yes	(b)
Deferred asset – Lee COLA	296		324			(b)
AMI	140		154		Yes	(b)
Customer connect project	66		50		Yes	(b)

Vacation accrual	83		84			2022
Storm cost deferrals	22		205		Yes	(b)



COR settlement	91		95		Yes	(b)
Nuclear deferral	78		88			2023




ABSAT, coal ash basin closure	67		71		Yes	(b)
Incremental COVID-19 expenses	51		31		Yes	(b)

Deferred severance charges	36		57			2023




Other	130		210			(b)
Total regulatory assets	3,479		3,469
Less: current portion	544		473
Total noncurrent regulatory assets	$	2,935	$	2,996
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)	$	2,785	$	2,874		(b)
Costs of removal(c)	2,009		1,975		Yes	(f)
AROs – nuclear and other	2,053		1,512			(b)
Provision for rate refunds(c)	124		170		Yes
Hedge cost deferrals	154		16			(b)
Accrued pension and OPEB(c)	44		32		Yes	(i)


Other	516		429			(b)
Total regulatory liabilities	7,685		7,008
Less: current portion	487		473
Total noncurrent regulatory liabilities	$	7,198	$	6,535

(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.

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

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

(i) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 22 for additional detail.

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,227	$	1,414	(h)	(b)

Accrued pension and OPEB(c)	365		427		Yes	(i)
Deferred fuel and purchased power	339		42		(e)	2023
Storm cost securitized balance, net	232		—			2041


Retired generation facilities(c)	54		11		Yes	2023
PISCC(c)	31		32		Yes	(b)
Hedge costs deferrals(c)	171		174		Yes	(b)
Deferred asset – Lee COLA	296		324			(b)
AMI	140		154		Yes	(b)
Customer connect project	66		50		Yes	(b)

Vacation accrual	83		84			2022
Storm cost deferrals	22		205		Yes	(b)



COR settlement	91		95		Yes	(b)
Nuclear deferral	78		88			2023




ABSAT, coal ash basin closure	67		71		Yes	(b)
Incremental COVID-19 expenses	51		31		Yes	(b)

Deferred severance charges	36		57			2023




Other	130		210			(b)
Total regulatory assets	3,479		3,469
Less: current portion	544		473
Total noncurrent regulatory assets	$	2,935	$	2,996
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(d)	$	2,785	$	2,874		(b)
Costs of removal(c)	2,009		1,975		Yes	(f)
AROs – nuclear and other	2,053		1,512			(b)
Provision for rate refunds(c)	124		170		Yes
Hedge cost deferrals	154		16			(b)
Accrued pension and OPEB(c)	44		32		Yes	(i)


Other	516		429			(b)
Total regulatory liabilities	7,685		7,008
Less: current portion	487		473
Total noncurrent regulatory liabilities	$	7,198	$	6,535

(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.

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

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

(i) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 22 for additional detail.

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,389	$	1,347	(h)	(b)
AROs – nuclear and other	613		683			(c)
Accrued pension and OPEB	351		393			(k)
Deferred fuel and purchased power	303		158		(f)	2023
Storm cost securitized balance, net	759		—			2041


Retired generation facilities	171		189		Yes	(b)
PISCC and deferred operating expenses	47		51		Yes	2054
Hedge costs deferrals	60		89			(b)
Deferred asset – Harris COLA	21		32			(b)
AMI	92		57		Yes	(b)
Customer connect project	57		25		Yes	(b)
DSM/EE(e)	218		224		(i)	(i)
Vacation accrual	42		42			2022
Storm cost deferrals(d)	170		785		Yes	(b)
NCEMPA deferrals	165		124		(g)	2042


COR settlement	32		33		Yes	(b)
Nuclear deferral	42		35			2023




ABSAT, coal ash basin closure	23		27		Yes	(b)
Incremental COVID-19 expenses	28		23		Yes	(b)

Deferred severance charges	18		29			2023




Other	50		122			(b)
Total regulatory assets	4,651		4,468
Less: current portion	533		492
Total noncurrent regulatory assets	$	4,118	$	3,976
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(l)	$	1,695	$	1,662		(b)
Costs of removal	2,955		2,666		Yes	(j)

Provision for rate refunds	87		123		Yes
Hedge cost deferrals	117		8			(b)



Other	395		465			(b)
Total regulatory liabilities	5,249		4,924
Less: current portion	381		530
Total noncurrent regulatory liabilities	$	4,868	$	4,394

(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.

(d) South Carolina storm costs are included in rate base.

(e) Included in rate base.

(f) 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.

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

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

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

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

(k) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 22 for additional detail.

(l) 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 23. Portions are included in rate base.

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	1,389	$	1,347	(h)	(b)
AROs – nuclear and other	613		683			(c)
Accrued pension and OPEB	351		393			(k)
Deferred fuel and purchased power	303		158		(f)	2023
Storm cost securitized balance, net	759		—			2041


Retired generation facilities	171		189		Yes	(b)
PISCC and deferred operating expenses	47		51		Yes	2054
Hedge costs deferrals	60		89			(b)
Deferred asset – Harris COLA	21		32			(b)
AMI	92		57		Yes	(b)
Customer connect project	57		25		Yes	(b)
DSM/EE(e)	218		224		(i)	(i)
Vacation accrual	42		42			2022
Storm cost deferrals(d)	170		785		Yes	(b)
NCEMPA deferrals	165		124		(g)	2042


COR settlement	32		33		Yes	(b)
Nuclear deferral	42		35			2023




ABSAT, coal ash basin closure	23		27		Yes	(b)
Incremental COVID-19 expenses	28		23		Yes	(b)

Deferred severance charges	18		29			2023




Other	50		122			(b)
Total regulatory assets	4,651		4,468
Less: current portion	533		492
Total noncurrent regulatory assets	$	4,118	$	3,976
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(l)	$	1,695	$	1,662		(b)
Costs of removal	2,955		2,666		Yes	(j)

Provision for rate refunds	87		123		Yes
Hedge cost deferrals	117		8			(b)



Other	395		465			(b)
Total regulatory liabilities	5,249		4,924
Less: current portion	381		530
Total noncurrent regulatory liabilities	$	4,868	$	4,394

(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.

(d) South Carolina storm costs are included in rate base.

(e) Included in rate base.

(f) 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.

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

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

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

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

(k) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 22 for additional detail.

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	10	$	10		(b)
AROs – nuclear and other	7		2			(b)
Accrued pension and OPEB(c)	374		482		Yes	(g)
Deferred fuel and purchased power	415		4		(f)	2022

Nuclear asset securitized balance, net	937		991			2036

Retired generation facilities(c)	94		174		Yes	2044

Hedge costs deferrals(c)	77		59		Yes	2038

AMI(c)	38		45		Yes	2032
Customer connect project	67		30			2037
DSM/EE(c)	12		17		Yes	2025

Storm cost deferrals(c)	19		108		(e)	(b)






Costs of removal regulatory asset(c)	107		—		(d)	(b)

Qualifying facility contract buyouts(c)	94		107		Yes	2034








Other	37		35		(d)	(b)
Total regulatory assets	2,288		2,064
Less: current portion	497		265
Total noncurrent regulatory assets	$	1,791	$	1,799
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)	$	699	$	749		(b)







Other	97		19		(d)	(b)
Total regulatory liabilities	796		768
Less: current portion	98		110
Total noncurrent regulatory liabilities	$	698	$	658

(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.

(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 22 for additional detail.

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	10	$	10		(b)
AROs – nuclear and other	7		2			(b)
Accrued pension and OPEB(c)	374		482		Yes	(g)
Deferred fuel and purchased power	415		4		(f)	2022

Nuclear asset securitized balance, net	937		991			2036

Retired generation facilities(c)	94		174		Yes	2044

Hedge costs deferrals(c)	77		59		Yes	2038

AMI(c)	38		45		Yes	2032
Customer connect project	67		30			2037
DSM/EE(c)	12		17		Yes	2025

Storm cost deferrals(c)	19		108		(e)	(b)






Costs of removal regulatory asset(c)	107		—		(d)	(b)

Qualifying facility contract buyouts(c)	94		107		Yes	2034








Other	37		35		(d)	(b)
Total regulatory assets	2,288		2,064
Less: current portion	497		265
Total noncurrent regulatory assets	$	1,791	$	1,799
Regulatory Liabilities(a)
Net regulatory liability related to income taxes(c)	$	699	$	749		(b)







Other	97		19		(d)	(b)
Total regulatory liabilities	796		768
Less: current portion	98		110
Total noncurrent regulatory liabilities	$	698	$	658

(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.

(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 22 for additional detail.

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	33	$	22	Yes	(b)

Accrued pension and OPEB	133		149			(g)
Deferred fuel and purchased power	38		—			2022




PISCC and deferred operating expenses(c)	16		16		Yes	2083
Hedge costs deferrals	5		7			(b)

AMI	24		36			(b)
Customer connect project	41		26			(b)
DSM/EE	5		1		(f)	(e)
Vacation accrual	6		6			2022
Storm cost deferrals	2		4			2023

CEP deferral	161		117		Yes	(b)



Deferred pipeline integrity costs	24		21		Yes	(b)

MGP	104		104			(b)









Other	115		140			(b)
Total regulatory assets	707		649
Less: current portion	72		39
Total noncurrent regulatory assets	$	635	$	610
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	602	$	628		(b)
Costs of removal	39		68			(d)

Provision for rate refunds	61		45			(b)

Accrued pension and OPEB	21		17			(g)


Other	78		55			(b)
Total regulatory liabilities	801		813
Less: current portion	62		65
Total noncurrent regulatory liabilities	$	739	$	748

(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.

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

(e) Recovered via a rider mechanism.

(f) Includes incentives on DSM/EE investments.

(g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 22 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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	33	$	22	Yes	(b)

Accrued pension and OPEB	133		149			(g)
Deferred fuel and purchased power	38		—			2022




PISCC and deferred operating expenses(c)	16		16		Yes	2083
Hedge costs deferrals	5		7			(b)

AMI	24		36			(b)
Customer connect project	41		26			(b)
DSM/EE	5		1		(f)	(e)
Vacation accrual	6		6			2022
Storm cost deferrals	2		4			2023

CEP deferral	161		117		Yes	(b)



Deferred pipeline integrity costs	24		21		Yes	(b)

MGP	104		104			(b)









Other	115		140			(b)
Total regulatory assets	707		649
Less: current portion	72		39
Total noncurrent regulatory assets	$	635	$	610
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	602	$	628		(b)
Costs of removal	39		68			(d)

Provision for rate refunds	61		45			(b)

Accrued pension and OPEB	21		17			(g)


Other	78		55			(b)
Total regulatory liabilities	801		813
Less: current portion	62		65
Total noncurrent regulatory liabilities	$	739	$	748

(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.

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

(e) Recovered via a rider mechanism.

(f) Includes incentives on DSM/EE investments.

(g) Recovered primarily over the average remaining service periods or life expectancies of employees covered by the benefit plans. See Note 22 for additional detail.

Schedule of MISO Exit Fee Obligations

The following table provides a reconciliation of the beginning and ending balance of Duke Energy Ohio’s recorded liability for its exit obligation and share of MTEP costs recorded in Other within Current Liabilities and Other Noncurrent Liabilities on the Consolidated Balance Sheets. The retail portions of MTEP costs billed by MISO are recovered by Duke Energy Ohio through a non-bypassable rider. As of December 31, 2021, and 2020, $33 million and $37 million, respectively, are recorded in Regulatory assets on Duke Energy Ohio's Consolidated Balance Sheets.


			Provisions/		Cash
(in millions)	December 31, 2020		Adjustments		Reductions		December 31, 2021
Duke Energy Ohio	$	50	$	—	$	(4)	$	46

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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	749	$	615	Yes	(b)

Accrued pension and OPEB	222		245			(e)
Deferred fuel and purchased power	158		9			2022



Retired generation facilities(c)	38		43		Yes	2030
PISCC and deferred operating expenses(c)	262		298		Yes	(b)
Hedge costs deferrals	35		22			(b)

AMI	17		19			2031
Customer connect project	11		5			(b)

Vacation accrual	13		12			2022


















Other	50		60			(b)
Total regulatory assets	1,555		1,328
Less: current portion	277		125
Total noncurrent regulatory assets	$	1,278	$	1,203
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	908	$	956		(b)
Costs of removal	575		599			(d)



Accrued pension and OPEB	113		100			(e)


Other	96		83			(b)
Total regulatory liabilities	1,692		1,738
Less: current portion	127		111
Total noncurrent regulatory liabilities	$	1,565	$	1,627

(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.

(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 22 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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)
AROs – coal ash	$	749	$	615	Yes	(b)

Accrued pension and OPEB	222		245			(e)
Deferred fuel and purchased power	158		9			2022



Retired generation facilities(c)	38		43		Yes	2030
PISCC and deferred operating expenses(c)	262		298		Yes	(b)
Hedge costs deferrals	35		22			(b)

AMI	17		19			2031
Customer connect project	11		5			(b)

Vacation accrual	13		12			2022


















Other	50		60			(b)
Total regulatory assets	1,555		1,328
Less: current portion	277		125
Total noncurrent regulatory assets	$	1,278	$	1,203
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	908	$	956		(b)
Costs of removal	575		599			(d)



Accrued pension and OPEB	113		100			(e)


Other	96		83			(b)
Total regulatory liabilities	1,692		1,738
Less: current portion	127		111
Total noncurrent regulatory liabilities	$	1,565	$	1,627

(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.

(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 22 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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)

AROs – nuclear and other	$	22	$	20		(d)
Accrued pension and OPEB(c)	82		88			(g)











Vacation accrual	12		12			2022



Derivatives – natural gas supply contracts(f)	139		122


Deferred pipeline integrity costs(c)	84		71			2025





Amounts due from customers	85		110		(e)	(b)





Other	33		32			(b)
Total regulatory assets	457		455
Less: current portion	141		153
Total noncurrent regulatory assets	$	316	$	302
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	510	$	499		(b)
Costs of removal(c)	572		575			(d)

Provision for rate refunds	2		6

Accrued pension and OPEB(c)	5		3			(g)


Other	25		49		(e)	(b)
Total regulatory liabilities	1,114		1,132
Less: current portion	56		88
Total noncurrent regulatory liabilities	$	1,058	$	1,044

(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.

(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 22 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)	2021		2020		a Return	Period Ends
Regulatory Assets(a)

AROs – nuclear and other	$	22	$	20		(d)
Accrued pension and OPEB(c)	82		88			(g)











Vacation accrual	12		12			2022



Derivatives – natural gas supply contracts(f)	139		122


Deferred pipeline integrity costs(c)	84		71			2025





Amounts due from customers	85		110		(e)	(b)





Other	33		32			(b)
Total regulatory assets	457		455
Less: current portion	141		153
Total noncurrent regulatory assets	$	316	$	302
Regulatory Liabilities(a)
Net regulatory liability related to income taxes	$	510	$	499		(b)
Costs of removal(c)	572		575			(d)

Provision for rate refunds	2		6

Accrued pension and OPEB(c)	5		3			(g)


Other	25		49		(e)	(b)
Total regulatory liabilities	1,114		1,132
Less: current portion	56		88
Total noncurrent regulatory liabilities	$	1,058	$	1,044

(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.

(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 22 for additional detail.