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Revenue (Tables)
 3 Months Ended
Mar. 31, 2024
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)20242025202620272028ThereafterTotal
Progress Energy$52 $30 $7 $7 $7 $29 $132 
Duke Energy Progress6 — — — — — 6 
Duke Energy Florida46 30 7 7 7 29 126 
Duke Energy Indiana12 17 17 15 5 — 66 
Estimated remaining performance obligations are as follows:
Remaining Performance Obligations
(in millions)20242025202620272028ThereafterTotal
Piedmont$49 $61 $51 $49 $46 $195 $451 
Disaggregation of Revenue
Disaggregated revenues are presented as follows:
Three Months Ended March 31, 2024
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$3,115 $1,058 $1,517 $742 $775 $253 $287 $— 
   General1,934 717 866 422 444 152 201 — 
   Industrial822 340 266 177 89 32 183 — 
   Wholesale554 138 355 326 29 14 48 — 
   Other revenues253 99 149 78 71 22 34 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$6,678 $2,352 $3,153 $1,745 $1,408 $473 $753 $— 
Gas Utilities and Infrastructure
   Residential$520 $— $— $— $— $147 $— $373 
   Commercial240 — — — — 57 — 183 
   Industrial47 — — — — 11 — 38 
   Power Generation— — — — — — — 8 
   Other revenues40 — — — — 5 — 35 
Total Gas Utilities and Infrastructure revenue from contracts with customers$847 $— $— $— $— $220 $— $637 
Other
Revenue from contracts with customers$7 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$7,532 $2,352 $3,153 $1,745 $1,408 $693 $753 $637 
Other revenue sources(a)
$139 $55 $75 $43 $28 $(15)$6 $39 
Total revenues$7,671 $2,407 $3,228 $1,788 $1,436 $678 $759 $676 
Three Months Ended March 31, 2023
DukeDukeDukeDukeDuke
(in millions)DukeEnergyProgressEnergyEnergyEnergyEnergy
By market or type of customerEnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Electric Utilities and Infrastructure
   Residential$2,851 $824 $1,421 $607 $814 $234 $372 $— 
   General1,831 588 841 358 483 135 270 — 
   Industrial891 296 272 177 95 71 251 — 
   Wholesale550 135 348 319 29 9 58 — 
   Other revenues144 78 121 68 53 27 15 — 
Total Electric Utilities and Infrastructure revenue from contracts with customers$6,267 $1,921 $3,003 $1,529 $1,474 $476 $966 $— 
Gas Utilities and Infrastructure
   Residential$507 $— $— $— $— $162 $— $345 
   Commercial233 — — — — 58 — 175 
   Industrial47 — — — — 9 — 37 
   Power Generation— — — — — — — 23 
   Other revenues40 — — — — 6 — 19 
Total Gas Utilities and Infrastructure revenue from contracts with customers$827 $— $— $— $— $235 $— $599 
Other
Revenue from contracts with customers$7 $— $— $— $— $— $— $— 
Total revenue from contracts with customers$7,101 $1,921 $3,003 $1,529 $1,474 $711 $966 $599 
Other revenue sources(a)
$175 $13 $45 $4 $36 $(2)$9 $76 
Total revenues$7,276 $1,934 $3,048 $1,533 $1,510 $709 $975 $675 
(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 March 31, 2023 and 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Balance at December 31, 2022$216 $68 $81 $44 $36 $6 $4 $14 
Write-Offs(42)(20)(22)(9)(12)— — (1)
Credit Loss Expense16 7 6 1 5 1 — 1 
Other Adjustments24 15 10 9 1 — — — 
Balance at March 31, 2023$214 $70 $75 $45 $30 $7 $4 $14 
Balance at December 31, 2023$205 $56 $74 $44 $31 $9 $5 $11 
Write-Offs(32)(12)(16)(7)(9)— — (1)
Credit Loss Expense10 7 9 4 5 1 2 2 
Other Adjustments21 11 6 6 — 31 9 — 
Balance at March 31, 2024$204 $62 $73 $47 $27 $41 $16 $12 
Aging of Trade Receivables
The aging of trade receivables is presented in the table below.
March 31, 2024
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(b)
$1,066 $361 $361 $250 $111 $113 $174 $57 
Current2,301 706 967 586 380 215 192 208 
1-31 days past due265 82 85 50 35 33 39 25 
31-61 days past due95 33 33 24 9 15 7 7 
61-91 days past due46 18 11 8 3 7 3 7 
91+ days past due215 64 57 21 36 67 23 4 
Deferred Payment Arrangements(c)
115 40 39 29 10 28 7 1 
Trade and Other Receivables$4,103 $1,304 $1,553 $968 $584 $478 $445 $309 
December 31, 2023
DukeDukeDukeDukeDuke
DukeEnergyProgressEnergyEnergyEnergyEnergy
(in millions)EnergyCarolinasEnergyProgressFloridaOhioIndianaPiedmont
Unbilled Revenue(a)(d)
$1,273 $399 $401 $280 $121 $4 $22 $108 
Current2,306 680 1,009 612 395 48 87 199 
1-31 days past due275 97 91 41 50 12 14 9 
31-61 days past due78 20 34 23 11 3 7 2 
61-91 days past due47 15 17 10 7 2 4 1 
91+ days past due253 67 69 24 45 46 27 3 
Deferred Payment Arrangements(c)
104 34 43 26 17 6 — — 
Trade and Other Receivables$4,336 $1,312 $1,664 $1,016 $646 $121 $161 $322 
(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)In March 2024, Duke Energy repaid all outstanding CRC borrowings and terminated the related CRC credit facility. Duke Energy's related restricted receivables outstanding at CRC at the time of termination totaled $682 million, consisting of $316 million and $366 million of restricted receivables that were transferred back to Duke Energy Indiana and Duke Energy Ohio, respectively, to be collected and reported as Receivables on the Condensed Consolidated Balance Sheets. See Note 12 for further information.
(c)Due to ongoing financial hardships impacting customers, Duke Energy has permitted customers to defer payment of past-due amounts through installment payment plans.
(d)Duke Energy Ohio and Duke Energy Indiana sold, on a revolving basis, nearly all of their retail accounts receivable, including receivables for unbilled revenues, to an affiliate, CRC, and accounted for the transfers of receivables as sales. Accordingly, the receivables sold were not reflected on the Condensed Consolidated Balance Sheets of Duke Energy Ohio and Duke Energy Indiana. These receivables for unbilled revenues are $141 million and $197 million for Duke Energy Ohio and Duke Energy Indiana, respectively, as of December 31, 2023.